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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

  • #74,961
  • Sep 16, 2010 8:07am Sep 16, 2010 8:07am
Quoting stewrigh
Yeah but the CHF news was good for the franc
Quoting stewrigh
No - I was looking at industrial production.
at the time of your post/question, all the CHF-related news have been released, including the rate decision.
& i think the market looked forward to the rate-related news & in the process (mildly) ignored that ind. production data.

& it feels like they timed it well.... BOJ & SNB tag team.
who's next?
  • #74,962
  • Sep 16, 2010 8:13am Sep 16, 2010 8:13am
Quoting bboyomega83
long nose and at a swing high. The only question on my mind is IF it breaks then where can we expect price to stall. My first inclination is at the top or middle of the consolidation it just broke out of.
IMHO, the more important question to consider is "will your trade get a good chance of hitting FTA &/or will the trade succeed?"
in 1 of my feeds, the distance of that PB's low to the immediate trouble area is about 10-15pips.
the nose is average in size, in the context of the current uptrend.
so, in other words, be careful

just my view, Sir
  • #74,963
  • Edited 8:38am Sep 16, 2010 8:21am | Edited 8:38am
Quoting supremeChaos
IMHO, the more important question to consider is "will your trade get a good chance of hitting FTA &/or will the trade succeed?"
in 1 of my feeds, the distance of that PB's low to the immediate trouble area is about 10-15pips.
the nose is average in size, in the context of the current uptrend.
so, in other words, be careful

just my view, Sir

Points taken.

And that was one of the negatives on my mind about this bar. How close it is to the area where it is most likely to stall. Thanks
  • #74,964
  • Sep 16, 2010 8:28am Sep 16, 2010 8:28am
Quoting supremeChaos
at the time of your post/question, all the CHF-related news have been released, including the rate decision.
& i think the market looked forward to the rate-related news & in the process (mildly) ignored that ind. production data.

& it feels like they timed it well.... BOJ & SNB tag team.
who's next?
Thats why it surprised me. The news was released way before the spike.

SNB playing games again.
  • #74,965
  • Sep 16, 2010 8:46am Sep 16, 2010 8:46am
Good Morning Dudes,

Just wondering if anyone else likes this bar.

http://imgur.com/gL08q.gif
Price is beautiful. A repetitive method is a competitive method.
  • #74,966
  • Sep 16, 2010 9:21am Sep 16, 2010 9:21am
Quoting jarroo
Nice . .did I call this one or what Rac . .


.
Just wait to see what will come next...
  • #74,967
  • Sep 16, 2010 10:26am Sep 16, 2010 10:26am
Sorry if I am posting in the wrong area, I have been looking through the james16 thread and can not seem to find any info on how to set up a chart- MAs indicators etc to trade the way j16 recommends. Can anyone help please ?
Rgds Grahame
  • #74,968
  • Sep 16, 2010 11:02am Sep 16, 2010 11:02am
Quoting grahamec
Sorry if I am posting in the wrong area, I have been looking through the james16 thread and can not seem to find any info on how to set up a chart- MAs indicators etc to trade the way j16 recommends. Can anyone help please ?
Rgds Grahame
Hey Grahame

There is not much to setup on your charts since we are analyzing price action, support and resistance.

Some people will use some long terms MAs and Shorter ones. The common ones are the 365 and 150 ema, the shorter ones are a bit trader specific. Many people like myself use nothing but price itself.

The other common indicator is an oscillator(like MACD, RSI) used specifically for spotting divergence

Let us know if you have more questions
Mike
  • #74,969
  • Sep 16, 2010 11:28am Sep 16, 2010 11:28am
Quoting grahamec
... can not seem to find any info on how to set up a chart- MAs indicators etc to trade the way j16 recommends...
Hello Grahame,
if u are not familiar with the MT4 platform(assuming this is what u are using)..

within MT4 go to Help or press F1.
&check this thread.
  • #74,970
  • Sep 16, 2010 11:31am Sep 16, 2010 11:31am
Hi Mike , thanks for your reply. I have watched nearly all of your video's in the guest area and find them very informative thank you.
Could you tell me what the 365 and 150 signify and what settings to use with MACD.
Thanks
Grahame
  • #74,971
  • Sep 16, 2010 11:33am Sep 16, 2010 11:33am
Quoting supremeChaos
Hello Grahame,
if u are not familiar with the MT4 platform(assuming this is what u are using)..

within MT4 go to Help or press F1.
&check this thread.
Thanks SupremeChaos, it is more to do with what to put on the charts.
rgds
Grahame
  • #74,972
  • Sep 16, 2010 11:54am Sep 16, 2010 11:54am
Quoting grahamec
Hi Mike , thanks for your reply. I have watched nearly all of your video's in the guest area and find them very informative thank you.
Could you tell me what the 365 and 150 signify and what settings to use with MACD.
Thanks
Grahame
Hey G

Thanks for the nice words

The MAs are simply averages of price. Jim has been using the 365 for a long time as well as the 150(365 could be said for 365 days in the year). Never the less they aren't magic but simply a way to gauge past price and a historical average of that price. It will tend to keep you on the right side of larger trends and can be used for additional confluence. A good starting place is to for example check out what price does the first time it breaks through and pulls back to these Moving average. Couple that with support/resistance and price action, and once can begin to build a logical approach to the market. But certainly it is just a small tool.

MACD is standard settings of 12,26,9

Best
Mike
  • #74,973
  • Sep 16, 2010 12:04pm Sep 16, 2010 12:04pm
Thanks Mike
  • #74,974
  • Sep 16, 2010 12:43pm Sep 16, 2010 12:43pm

  • #74,975
  • Sep 16, 2010 1:36pm Sep 16, 2010 1:36pm
Quoting raczekfx
Just wait to see what will come next...
So more waves are coming??


I see the 134.00 acting much like how the Aud/Cad did weeks ago . . .good old Resistance turning into Support . . although the overall market structure is a bit different on the Gbp/Jpy.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcaddaily.jpg Size: 108 KB
Click to Enlarge Name: gjdaily16zz.gif Size: 36 KB
Indicators show the past. Price Action "Indicates" the future.
  • #74,976
  • Sep 16, 2010 2:16pm Sep 16, 2010 2:16pm
Again a nice Fakkey like Nial is teaching. But it wasnīt with the Trend. But it was only demo trading ^^
Attached Image (click to enlarge)
Click to Enlarge Name: fakkey1.jpg Size: 78 KB
  • #74,977
  • Sep 16, 2010 2:44pm Sep 16, 2010 2:44pm
Quoting john225
Again a nice Fakkey like Nial is teaching. But it wasnīt with the Trend. But it was only demo trading ^^
John, if you don't mind, can you explain little bit more on these fakey set-ups. You posted about NU also yesterday..

How are you determining that it is a fakey set-up ?
  • #74,978
  • Sep 16, 2010 2:54pm Sep 16, 2010 2:54pm
Quoting cprao
John, if you don't mind, can you explain little bit more on these fakey set-ups. You posted about NU also yesterday..

How are you determining that it is a fakey set-up ?
Hi cprao I have the Setup from Nial Fuller http://www.learntotradethemarket.com...rading-videos/
He has many free videos were he is explaining how he trades the IB PB and Fakkeys. I donīt know how he is determine the Fakkeys. In the last week after i have found the site i have traded only the Fakkey Setup so if the IB broked out i have set my Limit order on the opposite and havenīt trade the normal IB breakout.
Hope i could help you ;-)
  • #74,979
  • Sep 16, 2010 4:08pm Sep 16, 2010 4:08pm
Quoting cprao
...can you explain little bit more on these fakey set-ups...
How are you determining that it is a fakey set-up ?
'Fakey' from the word 'fake'.
price moves in 1 direction then suddenly reverses & continues in that direction.

i think it's simply an IB traded in a certain way.

btw, if i remember correctly, Nial is a former (& now hostile?) j16 PF student.
  • #74,980
  • Sep 16, 2010 4:09pm Sep 16, 2010 4:09pm
I see we are approaching 5000 pages! Congrats to everyone who contributes to making this such a wonderful thread, and a big thank you to jim who started it all!

As for me, I had a truly amazing week making close to double I set out as my weekly goal. Taking a long weekend and will be spending it in the Kruger National Park!

See all of you on monday!
Thank you j16!
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