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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #65,281
  • Jun 1, 2010 8:37pm Jun 1, 2010 8:37pm
Helo Pinbar,
Cyrus probably has his thread pages with 40 posts each (the default is 15 posts per page).
[FYI: u can edit options here
http://www.forexfactory.com/profile.php?do=editoptions
near the bottom u will see "Number of Posts to Show Per Page"]


Cyrus,
i'll try to PM u when it hits 2500.
it wont be long
  • #65,282
  • Jun 1, 2010 8:48pm Jun 1, 2010 8:48pm
Quoting joelcf
.....
Same goes for an insto dealer trying to undercut the vwap for a client order and earn himself an Elise.
It's all a matter of perspective.
u say it's a matter of perspective...
so the $1 question is:
is Elise a lady or the car?

....."undercut the vwap for a client order and earn himself an Elise"? sounds
like a sly tactic
  • #65,283
  • Jun 1, 2010 9:34pm Jun 1, 2010 9:34pm
anybody watching or intending to play this DBHLC which looks good in my book.
My problem is with the position size given the 1600pips full bar length (if one were to place a SL at the top of that bar)!!
Comments anyone?


CY
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  • #65,284
  • Jun 1, 2010 9:40pm Jun 1, 2010 9:40pm
AUD/JPY Possible Daily PB forming.

We have a clear PPZ at BRN and fibo confluence & a definite declining wedge.
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  • #65,285
  • Jun 1, 2010 9:44pm Jun 1, 2010 9:44pm
The yen is acting too wierd for me. It's all over the place. Even the professional analysts can't seem to figure out where it might be going. Then again I could be wrong.
  • #65,286
  • Jun 1, 2010 9:50pm Jun 1, 2010 9:50pm
Great location. You have a PPZ, 61.8 fib. and the 1.10 round number in your favor. I would place a sell stop order just under 1.09 if my broker carried this pair.

Scott

Quoting ljr
Hi All

About the only setup on dailies that looks good to me is the BEOB on CadChf.
I like the way it closed below the last 2 bars. It is also comming off the 61.8 fib from the high in 2007 to the low in 2008.

There has been a strong up trend on this pair over the last 6 months but if this is going to retrace this looks like a good position for that to happen. It is best to look at the weekly chart to get an overall view.

My concerns are that this BEOB could have been bigger considering the strong trend and previous bigger bearish bars...
  • #65,287
  • Edited 10:31pm Jun 1, 2010 10:17pm | Edited 10:31pm
Quoting Cyrus
Hey Joel how's it hangin' down under? Traders should just stick to their style and TF. I have begun to realise that it's a matter of expression.

Jimmy Rogers like LONG term trends. Others scalp, swing, etc. It's a matter of the trader. A noob mistake is to factor in everything... more noise, more mess.
Australia: just as dull as ever. Might be visiting your part of the world soon, if only for a night or two.

Couldnt have put it better myself. Everyone is in such a hurry to include everything they can, so they dont realise they are just ending up in the same 'indicator hell' that they were trying to escape from.... they have just traded a mess of indicators for a mess of timeframes with conflicting signals, fundamentals they dont understand and approaches that dont mesh.

Quoting Cyrus
When you have to shoot, shoot right? At the end of the day, it's what puts a good % the account on a regular, consistent basis. That's all that really matters. I've avoided posting here lately...Either way, 1000pips still means nothing if you've got a notional 10 in size on. Unless the account's like $50 or something. LOL.

It's been awhile mate. Hope you're fairing well. =)
It's been going really well All the market swings have definitely helped beef up my longterm positions, and I've been killing it on the m5. Forcing myself to focus on one chart, rather than a dozen, really gives some clarity. Or maybe it is just that I dont have time to post charts and second guess myself anymore

Pity it is only my mini-lot account that I forced myself to use as a 3 month demo before going live!

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(dodgy screenshot, excel doesnt like exporting graphs)

In fact, after the last month, I'm not even sure I want to pull money out of my positions to fund this properly, since I completely expect variance to come and bite me in the ass for having such a lucky streak, lol.

Good to see you drop in, you should make a habit out of it

Quoting supremeChaos
u say it's a matter of perspective...
so the $1 question is:
is Elise a lady or the car?
Definitely the car

(edit: unless you manage to find a girl named Elise with curves just as nice, perfect handling and temperament, low maintenance costs... and that costs under a hundred k to own... )
When you have to shoot, shoot. Dont talk.
  • #65,288
  • Jun 1, 2010 10:25pm Jun 1, 2010 10:25pm
Quoting ertorque
anybody watching or intending to play this DBHLC which looks good in my book.
My problem is with the position size given the 1600pips full bar length (if one were to place a SL at the top of that bar)!!
Comments anyone?


CY
On second thought after remembering James words here : http://www.forexfactory.com/showpost...ostcount=47113,
maybe it is not a good idea after all. Looks like it's overdone selling here.

CY
  • #65,289
  • Jun 1, 2010 10:33pm Jun 1, 2010 10:33pm
Quoting ertorque
On second thought after remembering James words here : http://www.forexfactory.com/showpost...ostcount=47113,
maybe it is not a good idea after all. Looks like it's overdone selling here.

CY
I am so glad you found that post Cy
  • #65,290
  • Jun 1, 2010 10:39pm Jun 1, 2010 10:39pm
Quoting ertorque
anybody watching or intending to play this DBHLC which looks good in my book.
My problem is with the position size given the 1600pips full bar length (if one were to place a SL at the top of that bar)!!
Comments anyone?
..........
Hello CY,
wow, monthly chart...talk about a long term trade
that's a huge bar.
if u plot a Fib from 2008 lows to the 2010 highs, that huge bar stopped at 50%.
i remember a post by Sir James16 (it was discussed a few weeks/months back, but i dont have the link yet, will look for it) talking about a huge bar like this one piercing several fib levels & ends up at/closes around 50/61.8% Fib ..... it gets a bounce (move up) instead of continuing down.
i see possible traffic around 70.00/71.00 area.

if u plan to take this one, u may reduce your position size
or wait for a retracement so u can have a tighter stop
or simply say "pass" on this trade.

EDIT:
ok, that's the one, u got it, LOL
http://www.forexfactory.com/showpost...ostcount=47113


Quoting Pinbar
AUD/JPY Possible Daily PB forming.
are u referring to the latest daily bar?
if so, it's pretty small... & an inside bar-- it's not protruding away from the other bars
also, possible traffic at 75.00 area.
  • #65,291
  • Jun 1, 2010 10:48pm Jun 1, 2010 10:48pm
Quoting joelcf
.....
Definitely the car
(edit: unless you manage to find a girl named Elise with curves just as nice, perfect handling and temperament, low maintenance costs... and that costs under a hundred k to own... )
wouldnt that be nice?

"hey bro, i drove Porsche around town in my Porsche Carrera"
Lotus Elise car = girl named Elise
Ferrari car = girl named Ferrari?
Lamborghini car = girl named Lamborghini?!?!!
Aston martin car = girl named Aston ..... lol
  • #65,292
  • Jun 1, 2010 10:54pm Jun 1, 2010 10:54pm
Quoting supremeChaos
Aston martin car = girl named Aston ..... lol
haha. At that point, I think I walk
When you have to shoot, shoot. Dont talk.
  • #65,293
  • Jun 1, 2010 11:14pm Jun 1, 2010 11:14pm
Hey all,

I just thought i'd introduce myself here. I have just started following this thread, havent you guys been busy I have been trading profitably with a totally different method, but this thread and it's ideas have caught my attention. I am really interested in learning here.

Thanks to all contributors and Goold luck too all.
  • #65,294
  • Jun 1, 2010 11:36pm Jun 1, 2010 11:36pm
Quoting Pinbar
AUD/JPY Possible Daily PB forming.

We have a clear PPZ at BRN and fibo confluence & a definite declining wedge.
be carefull here buddy, this is no way a wedge pattern. i doubt anyone is gonna see it as such. When playing these patterns i find it is best to play only the most obvious ones, then there is more chance everyone is seeing it (even if they dont trade it)

jon

EDIT: notice the words 'OUTLINE PRICE...'
this discription is foe a declining wedge
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PATIENCE... DISCIPLINE
  • #65,295
  • Jun 1, 2010 11:37pm Jun 1, 2010 11:37pm
Quoting djmartymac
Hey all,

I just thought i'd introduce myself here. I have just started following this thread, havent you guys been busy I have been trading profitably with a totally different method, but this thread and it's ideas have caught my attention. I am really interested in learning here.

Thanks to all contributors and Goold luck too all.

welcome bro, im sure you will find it profitable. dont hesitate to post...

jon
PATIENCE... DISCIPLINE
  • #65,296
  • Jun 2, 2010 1:08am Jun 2, 2010 1:08am
Quoting g_j_hook@yah
be carefull here buddy, this is no way a wedge pattern. i doubt anyone is gonna see it as such. When playing these patterns i find it is best to play only the most obvious ones, then there is more chance everyone is seeing it (even if they dont trade it)

jon

EDIT: notice the words 'OUTLINE PRICE...'
this discription is foe a declining wedge

Many thanks for your advice Jon.

Yes, I believe you are right, and it is TOO easy for me to form a biased opinion, even if it is pushing it a bit.
Indeed, as you say, the more obvious it is, the better.
That article mentions at least 5 touches of the upper and lower TL, the wedge I imagines, has only 3 at best.

I have to get this, if it doesn't jump out at me thing down!

Once again, appreciate the input.
  • #65,297
  • Jun 2, 2010 1:33am Jun 2, 2010 1:33am
Quoting Pinbar
Many thanks for your advice Jon.

Yes, I believe you are right, and it is TOO easy for me to form a biased opinion, even if it is pushing it a bit.
Indeed, as you say, the more obvious it is, the better.
That article mentions at least 5 touches of the upper and lower TL, the wedge I imagines, has only 3 at best.

I have to get this, if it doesn't jump out at me thing down!

Once again, appreciate the input.
glad to help,
heres one im watching atm small TF though. Also it comes after consolodation rather than a run up so it is not the best setup. i might take a decent bullish trigger bar from the lower border or the break north if it happens with some momentum. i like to play these with a 15 pip stop and all out at +30-45 (on these i ignore RN etc unless it is gonna break right into a strong PPZ)with a TSL of 15 pips. they are a good setup when they come as a genuine break in a trend. which this one isnt! lets see what happens

jon
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PATIENCE... DISCIPLINE
  • #65,298
  • Jun 2, 2010 1:41am Jun 2, 2010 1:41am
Quoting supremeChaos
Hello CY,
wow, monthly chart...talk about a long term trade
that's a huge bar.
if u plot a Fib from 2008 lows to the 2010 highs, that huge bar stopped at 50%.
i remember a post by Sir James16 (it was discussed a few weeks/months back, but i dont have the link yet, will look for it) talking about a huge bar like this one piercing several fib levels & ends up at/closes around 50/61.8% Fib ..... it gets a bounce (move up) instead of continuing down.
i see possible traffic around 70.00/71.00 area.

if u plan to take this one, u may reduce your...
Hi Supreme,
I am confused here. To me Post 47113 says that if there is long term uptrend and when price goes for small correction, then one should not play the BUOB if this bar has pierced the 61.8% FIb level retracement from the Long term high to short term swing low. Whereas in this case you are drawing Fibs from 2008 Lows to 2010 highs which is not what is depicted in post 47113 and 47114.
Can you pls elaborate further on this.

Cheers,
Novice 198
  • #65,299
  • Jun 2, 2010 1:43am Jun 2, 2010 1:43am
Quoting g_j_hook@yah
glad to help,
heres one im watching atm small TF though. Also it comes after consolodation rather than a run up so it is not the best setup. i might take a decent bullish trigger bar from the lower border or the break north if it happens with some momentum. i like to play these with a 15 pip stop and all out at +30-45 (on these i ignore RN etc unless it is gonna break right into a strong PPZ)with a TSL of 15 pips. they are a good setup when they come as a genuine break in a trend. which this one isnt! lets see what happens

jon

Very interesting stuff Jon.

Obviously, you have paid your dues on the higher TF.
I am grounded on posting anything less than D1, or I am going to get the boot in the butt.

I heard that PA will actually work on even the M5 TF and know a person who only trades PB's on M5. Quite successfully it seems.

Very interesting though. Thank you very much.
  • #65,300
  • Jun 2, 2010 1:57am Jun 2, 2010 1:57am
Quoting Pinbar
Very interesting stuff Jon.

Obviously, you have paid your dues on the higher TF.
I am grounded on posting anything less than D1, or I am going to get the boot in the butt.

I heard that PA will actually work on even the M5 TF and know a person who only trades PB's on M5. Quite successfully it seems.

Very interesting though. Thank you very much.
yes,
pa works on all TFs but things move much faster obviously so the decisions need to be almost auto which is why longer tfs are recomended here at least untill we have a good grounding and understanding to work from. many people never move to lower TFs as it isnt nesesary to make money and it fits better into there life style. i know of a few peaple from this thread who almost print money from the 5 min TF and also others who make big bucks just from the dailies.
It boils down to your preference and personality. i do trade down to 15 mins but my preference would be a good daily bar or a good 4h bar as these carry more info and tend to be easier to trade.

cheers

jon
PATIENCE... DISCIPLINE
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