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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

  • #75,021
  • Sep 17, 2010 8:37am Sep 17, 2010 8:37am
I've a question for the senior members about the CHF-crosses on the 4H-TF today. Most of these crosses generated a PB on the 4H-TF today. First the E-C, the PB closed below the RNB 13300 and FTA would be at the next PPZ @ 13200-ish. The PB on the G-C was off the BRN/PPZ @ 16000, FTA would be the PPZ @ 15858. Finally the PB on the C-C was off a PPZ @ 9950-ish but FTA at the RNB/PPZ @ 9900 was very near. If we would wait for a close below this level then the FTA would be at the next PPZ @ 9840-ish. So in this case I would prefer the PB on the E-C because price has more space to run into. Do the senior members share my view on this one, Mike, Jarroo ?

May the force be with you.
Pipcrawler
  • #75,022
  • Sep 17, 2010 8:41am Sep 17, 2010 8:41am
Quoting xmzhang
I've a question for the senior members about the CHF-crosses on the 4H-TF today. Most of these crosses generated a PB on the 4H-TF today. First the E-C, the PB closed below the RNB 13300 and FTA would be at the next PPZ @ 13200-ish. The PB on the G-C was off the BRN/PPZ @ 16000, FTA would be the PPZ @ 15858. Finally the PB on the C-C was off a PPZ @ 9950-ish but FTA at the RNB/PPZ @ 9900 was very near. If we would wait for a close below this level then the FTA would be at the next PPZ @ 9840-ish. So in this case I would prefer the PB on the E-C...
Hey Zhang

Your viewpoint is fine in my eyes. I would personally always prefer the setups supported by the BRN as gbp/chf was at 1.6. Intraday I am very heavy around these areas to support my trades

Best
Mike
  • #75,023
  • Sep 17, 2010 8:43am Sep 17, 2010 8:43am
Quoting joelcf
Wait til you see his videos on Goss Bars, Jaro-style hard breaks and Mick breakout trades.
What are goss bars Jaro Style hard breaks and Mick breakout trades?
  • #75,024
  • Sep 17, 2010 8:54am Sep 17, 2010 8:54am
Thank you to James Mike Jarroo Ghous ,well everyone , an amazing thread
  • #75,025
  • Sep 17, 2010 8:57am Sep 17, 2010 8:57am
Quoting mbqb11
Hey Zhang

Your viewpoint is fine in my eyes. I would personally always prefer the setups supported by the BRN as gbp/chf was at 1.6. Intraday I am very heavy around these areas to support my trades

Best
Mike
Thanx very much for your quick and clear relpy !http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #75,026
  • Sep 17, 2010 9:33am Sep 17, 2010 9:33am
Quoting Jonnyislost
Nice Chris This must have been close to your no trades after 12pm (UK) rule

I just closed the GBP/CHF for 0.5R. There's a good chance it will run further and there is a Daily bearish pinbar forming. But it's doing battle with a very stong PPZ now and being a friday afternoon I figured I'd just TP.

Have a nice weekend
Jon,
Can I ask what broker you use.
Just curious cos I can't see that pb on my feed - I thought it was bcos I was in UK and my broker uses CET but I see ur in UK also.
  • #75,027
  • Sep 17, 2010 9:47am Sep 17, 2010 9:47am
Quoting stewrigh
Jon,
Can I ask what broker you use.
Just curious cos I can't see that pb on my feed - I thought it was bcos I was in UK and my broker uses CET but I see ur in UK also.
hey stewrigh

The broker in the post is "the Collective FX" I just scan their charts for that 4hour close (8am - 12pm - 4pm UK)
they are a bit "bucket-shop" but fine for demo.

My actual broker is Oanda

J
  • #75,028
  • Sep 17, 2010 9:47am Sep 17, 2010 9:47am
Quoting Cyrus
Post summaries by the seniors. If there's anyone you think should be in that I missed out, let me know please. I don't track this great thread page by page anymore so I'm abit dated in who else posts good stuff.

If I may give my 2cents (I'm gonna give it anyway. LOL), for the newer folk, learn as much as you can, then simplify as much as you can. Then, ensure that you are trading your OWN style/expression of what James/Mike/Jarroo/Kiss etc are showing you. Stay within this material until you "get it" before venturing too far out lest...

Wow . .what a great post

. . .not just for your continuous contributions of putting these posts together in an orderly fashion (no idea how you do that) .

. . .but for the content you have here in this post . ."learn as much as you can, then simplify as much as you can". . .great stuff . .

I should just but quotes on the whole post and repost it.

Rant on, brother . . .rant on . . 1st post material, for sure.


Jim


5000 . . .Rules
Indicators show the past. Price Action "Indicates" the future.
  • #75,029
  • Sep 17, 2010 9:56am Sep 17, 2010 9:56am
Quoting Jonnyislost
hey stewrigh

The broker in the post is "the Collective FX" I just scan their charts for that 4hour close (8am - 12pm - 4pm UK)
they are a bit "bucket-shop" but fine for demo.

My actual broker is Oanda

J
thx
  • #75,030
  • Sep 17, 2010 10:20am Sep 17, 2010 10:20am
Quoting jarroo
Interesting where Price was caught between on the DJIA30 through all of last week. Between the previous bar Low of the Weekly BEOB and the previous bar High of the Weekly DBLHC, which barely broke through.

More to upside this week on the DJIA30 if the Weekly DBLHC plays out and finds the 10500 to act as strong Support, breakout - pullback style.
No surprise where the Weekly DBLHC was going on the DJIA30 . . 1st target hit earlier this week.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,031
  • Sep 17, 2010 10:34am Sep 17, 2010 10:34am
Quoting Jonnyislost
Some potential stock market trades

Update;

They all had hard breaks except STRM which didn't get triggered (yet)
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  • #75,032
  • Sep 17, 2010 10:36am Sep 17, 2010 10:36am
Quoting Jonnyislost
Saw an interesting short setup on the on the EUR/AUD last night, but it doesn't comply with my usual style so I just played it on demo.

EUR/AUD 4 Hour
Strong Downtrend

Retracement to;
Descending trendline
1.4000 BRN
Price flip

Bearish Pinbar.

The Pinbar was tiny and badly formed but considering all the added confluence here I think it was an high probability trade

Jonny

Classic . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,033
  • Sep 17, 2010 10:39am Sep 17, 2010 10:39am
in a Jarroo free trade now.

i4b straddling VBRN... I have not been taking many trades at all this past month.... feels boring but all the best trades have been happening on 4hr at about 5-7 AM mountain time.... no way I can catch those lol....

edit: my stop loss was initially under the low of the I4B
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Many choose unhappiness over uncertainty.
  • #75,034
  • Sep 17, 2010 10:42am Sep 17, 2010 10:42am
I have two off the wall questions, which don't relate directly to James16. The members of this thread are some of the best people I have found on the net, so I wanted to bring these questions here to see if I could get the answers in one place.

#1) Internet connection. My DSL at home is driving me crazy. Add to it, if I drop my Verizon cell phone, and my DSL, and just get an iPhone4 and use it to teather, for like $30 more a month I can have internet though it anywhere. Has anyone tried using the teathered 4G connection, and if so, is it realiable enough to be a home internet connection?


#2) Futures trading in the USA. My trading has come along nicely, thanks in large part to the help of the fine folks here. I am wanting to eventually open an account with Interactive Brokers and start trading futures. Joel brought up a great point about leverage. I believe the max leverage on futures is 1:2, so instead of $2,500 for a contract, you just need $1,250 of your own money. Is this correct? If so, I think some of the cheaper mini futures are around $500 to trade, is that correct? Just trying to calculate how much I will need, and how much risk I will be taking on.

Thank you to everyone here!

T.J.
  • #75,035
  • Sep 17, 2010 10:46am Sep 17, 2010 10:46am
Quoting Dan Gilbert
in a Jarroo free trade now.

i4b straddling VBRN... I have not been taking many trades at all this past month.... feels boring but all the best trades have been happening on 4hr at about 5-7 AM mountain time.... no way I can catch those lol....

edit: my stop loss was initially under the low of the I4B
Darn . .I saw this one too but missed it . . .well done sir.
Indicators show the past. Price Action "Indicates" the future.
  • #75,036
  • Sep 17, 2010 10:46am Sep 17, 2010 10:46am
Awesome johnny!! did you us finviz.com t spot these? or did you just scroll thru freestockcharts.com?

Quoting Jonnyislost
Update;

They all had hard breaks except STRM which didn't get triggered (yet)
  • #75,037
  • Sep 17, 2010 10:51am Sep 17, 2010 10:51am
Quoting jarroo
Darn . .I saw this one too but missed it . . .well done sir.

Not a horrible one to skip, the bar wasn't exactly small... just barely an I4B. But these work too well to miss anymore. I did miss the USDCHF earlier this week
Many choose unhappiness over uncertainty.
  • #75,038
  • Sep 17, 2010 10:53am Sep 17, 2010 10:53am
Quoting dmc
Awesome johnny!! did you us finviz.com t spot these? or did you just scroll thru freestockcharts.com?
Yeah I use Finviz initially to scan for PA, and then switch to freestockcharts to do the full analysis. I have a demo account with investopedia to keep track of trades
  • #75,039
  • Edited 11:09am Sep 17, 2010 10:58am | Edited 11:09am
Quoting Dan Gilbert
Not a horrible one to skip, the bar wasn't exactly small... just barely an I4B. But these work too well to miss anymore. I did miss the USDCHF earlier this week
I saw that the I4B and its previous bar, closed was above the 1.6000, Resistance turning back into Support of the 1.6000 PPZ level.

But many times this type of analysis gets in the way of these I4B+BRNs .. . lol . . .if it broke the other way it would probably have been equally as good.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,040
  • Sep 17, 2010 10:59am Sep 17, 2010 10:59am
Nice!!

One last question and I will stop bothering you. What technical Candelstick do you browse? Hammer? Inverted? Doji?

Also do you just search at end of day/ Market close?

Quoting Jonnyislost
Yeah I use Finviz initially to scan for PA, and then switch to freestockcharts to do the full analysis. I have a demo account with investopedia to keep track of trades
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