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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

  • #66,061
  • Jun 11, 2010 2:44pm Jun 11, 2010 2:44pm
Quoting ghous
I can't believe I googled that!
lolll
Indicators show the past. Price Action "Indicates" the future.
  • #66,062
  • Jun 11, 2010 2:49pm Jun 11, 2010 2:49pm
nothing could make me happier than if Merlin stopped by around the time i started it on the 17th.

that would be my only wish.

i dont know how to make that happen.

Jim

Quoting ghous
Woohooo!!! that's 1826 days and 6 hours of unprecedented giving and taking.

Geez...that calls for...errr....ummm...something BIG!
  • #66,063
  • Jun 11, 2010 2:53pm Jun 11, 2010 2:53pm



Quoting ghous
I can't believe I googled that!
  • #66,064
  • Jun 11, 2010 2:56pm Jun 11, 2010 2:56pm
Quoting james16
nothing could make me happier than if Merlin stopped by around the time i started it on the 17th.

that would be my only wish.

i dont know how to make that happen.

Jim
That would be cool.

A "Hi' from Dialist would be nice too.
Indicators show the past. Price Action "Indicates" the future.
  • #66,065
  • Jun 11, 2010 3:02pm Jun 11, 2010 3:02pm
Quoting jarroo
You got love those multi confluenced levels.
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?

Thanks and have a good weekend
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  • #66,066
  • Jun 11, 2010 3:03pm Jun 11, 2010 3:03pm
Quoting james16
nothing could make me happier than if Merlin stopped by around the time i started it on the 17th.

that would be my only wish.

i dont know how to make that happen.

Jim
Wow! that would be cool

Does he even stop by FF these days, haven''t seen a post from him in ages.

g.
I believe . . .
  • #66,067
  • Jun 11, 2010 3:05pm Jun 11, 2010 3:05pm
Quoting Dan-FX
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?

Thanks and have a good weekend
This is one reason why I generally refrain from using them extensively in my analysis, you miss the end of a single wick by a millimeter and it turns out you miss an entire supp/res zone several bars later. It all happens because a trend line get's drawn at an angle.

There ar no specific rules of drawing trend lines either. Some prefer them drawn from the bar closes/line chart others use bar highs and lows...


g.
I believe . . .
  • #66,068
  • Jun 11, 2010 3:11pm Jun 11, 2010 3:11pm
Quoting Dan-FX
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?

Thanks and have a good weekend

For me . . . Trendlines, MAs, Fibs, etc are confluencing tools as they relate to PPZ levels. PPZ levels are at the core of what we do here. When these confluencing tools line up with, emerge on, start to layer upon these PPZ levels they add more strength to the level. (imo) One could do just nicely with just the PPZ level alone. But an added confluence is always great to have.
Indicators show the past. Price Action "Indicates" the future.
  • #66,069
  • Jun 11, 2010 4:13pm Jun 11, 2010 4:13pm
Quoting ghous
I can't believe I googled that!
oh man that is hilarious
  • #66,070
  • Jun 11, 2010 5:24pm Jun 11, 2010 5:24pm
Quoting Dan-FX
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?
Do we have a bearish flag there breaking Dan's trend line?
  • #66,071
  • Jun 11, 2010 5:29pm Jun 11, 2010 5:29pm
Quoting mbqb11
THIS is what we look for. Pinbar the lights are getting bright!

Many thanks Mike, it is all due to the unselfish & humble people in this forum.

For some reason, I found identifying the swing highs and lows much harder than many other aspects of trading, which is truly strange.

Maybe, when I started studying, I would go over the whole chart from top to bottom, moving down TF after TF drawing PPZ, till I got a birdcage, that possibly blinded me from seeing the swing highs and lows.

Now, I shall find a setup, then draw the PPZ...!

Many thanks.
  • #66,072
  • Jun 11, 2010 8:49pm Jun 11, 2010 8:49pm
i invented something new its called a tequila martini
  • #66,073
  • Jun 11, 2010 8:51pm Jun 11, 2010 8:51pm
tequila

lime flavored grenadine stuff olive juice... an olive

tastes ok
  • #66,074
  • Jun 11, 2010 8:52pm Jun 11, 2010 8:52pm
Quoting jarroo
Rac ....

....would (in this case) enter at 1.2150 (or 1.2147) ...

.
You read me like an open book, my friend...
I've set up limit sell exactly @ 1.2150 last night...
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  • #66,075
  • Jun 11, 2010 9:04pm Jun 11, 2010 9:04pm
im open to screencasting however you do it over there but not before im putting on over 10,000 units. 40,000 will be a good day, 100,000 is better. hand full of pips risk it will blwo your mind. WEALTH CREATION
  • #66,076
  • Jun 11, 2010 9:04pm Jun 11, 2010 9:04pm
amen and a nother martini to taht
  • #66,077
  • Jun 11, 2010 9:10pm Jun 11, 2010 9:10pm
tough crowd
  • #66,078
  • Jun 11, 2010 9:35pm Jun 11, 2010 9:35pm
Quoting raczekfx
You read me like an open book, my friend...
I've set up limit sell exactly @ 1.2150 last night...
Yeah . . Rac-man! Good to see you brother.

You're a good teacher what can I say, keep the student thinking on his own. lol

Funny how the "KaBoom" (albeit a minor one) happened when Price hit the 1.2150, not a pip less. Interesting.


Maybe you caught the GU . . same type setup . . didn't hit the 1.4500 though. I know the trendline is not the best . . being late on Friday probably not the best time. Worked out nice for about 50 pips.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,079
  • Jun 11, 2010 10:03pm Jun 11, 2010 10:03pm
This is not a typical question for this thread but it is an interesting area (to me anyway)

Often I see price forming arches - take spot silver, the 4H chart for palladium PAU0.sb - yes palladium.

These aren't the first I've come across.
This topic may be cover elsewhere.
Technical analysis of the sort I am aware of does not fit but these surely must represent an opportunity if a method is available/can be devised.
Yes you too can successfully trade palladium!

I see that when price has reached the top of an arch it consolidates and "grows hair" - wicks sprout out are price tries to get higher but selling pressure put a cap on it to use an analogy.

The trick is to determine the top of the arch.
With palladium it looks reasonably sorted.
Then where is the bottom - well there will be a ppz so I guess it is a matter of drawing these in and looking left.

Clearly there is profit in these - the fall over 6 days in May for palladium was over 1300 pips.
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  • #66,080
  • Jun 11, 2010 10:26pm Jun 11, 2010 10:26pm
Quoting mbqb11
Hey ATC

I am talking about his chart
Mike,

I am a bit confused here. My understanding is that High impact news will not have much impact on Daily TF but on H1 TF the impact can be severe. As PB was trading on the H1 TF, therefore, it is an issue to watchout for after the news release.

Pls correct me if I am wrong in this.

Cheers
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