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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

  • #77,381
  • Oct 13, 2010 7:37pm Oct 13, 2010 7:37pm
Quoting Pinbar
Great charts xmzhang, looks like an intricate electrical circuit board.

I see you are working hard on the story behind PA.

Very inspiring.
I thought so too :-) Very cool charts !!
Sometimes same chart in different colors and the way are drawn helps me see some patterns which are not obvious otherwise. Must be subconscious thing.

Are you using any special software or do you mark everything yourself xmzhang? Do you mind sharing which broker is this?

cheers
  • #77,382
  • Edited 7:52pm Oct 13, 2010 7:42pm | Edited 7:52pm
Quoting Adilius07
Could anyone suggest which to add? Nasdaq 100, Russel 1000 or 2000 (and why), Maybe that AMEX Index components? I mean there are SO MANY stocks, of course SP and DOW would be most liquid - so the best, but what are the others? Are Nasdaq stocks ok for J16 method? What is the difference between Russel 1000 and 2000???
Grab the Nasdaq 100, FTSE100, maybe the Nik225/DAX30/CAC40/ASX50 if you are desperate. Just check the daily turnover and the insider ownership if you are adding smaller caps... otherwise, you are just asking for trouble.

Skip AMEX and Russell. In general, they are too thin to really be tradeable. Obviously there are a bunch of Rus1k companies are liquid, but they will show up in your S&P and Dow scans anyways. The rest arent really worth the headache IMO.

Quoting Adilius07
What is the difference between Russel 1000 and 2000???
The Russell3000 is a bigass index of the top 3000 US equities (across all exchanges). It represents 98% of all tradable equities.
The Rus1000 is the top 1000 companies of the Rus3000, which represents 90%. You are already seeing most of them in your Nas and SP500. The rest arent worth the headache.
The Rus2000 is the bottom 2000 companies of the Rus3000, which represent 8%. That's why you want to avoid it.



Quoting ghous
Joel you there?
I'm always out there, watching. Kind of like Batman, but instead of fighting crime I lecture people on the internet
When you have to shoot, shoot. Dont talk.
  • #77,383
  • Oct 13, 2010 7:48pm Oct 13, 2010 7:48pm
Quoting Imphilomath
I thought so too :-) Very cool charts !!
Sometimes same chart in different colors and the way are drawn helps me see some patterns which are not obvious otherwise. Must be subconscious thing.

Are you using any special software or do you mark everything yourself xmzhang? Do you mind sharing which broker is this?

cheers

I think he is drawing everything by hand, I don't see any signs of software, looks like the platform is Trading Station.
  • #77,384
  • Oct 13, 2010 7:55pm Oct 13, 2010 7:55pm
Quoting Osman
There a very few brokers that offer currency index, Forex LTD and Liteforex are the only ones that I know that offer it, which i wont recommend them as a broker.
You can use currency futures for the same purpose, but they are generally a bit thin. Alternately, you can construct your own synthetic - that's likely all your broker is doing anyway (assuming they arent just a straight bucket shop).
When you have to shoot, shoot. Dont talk.
  • #77,385
  • Oct 13, 2010 8:03pm Oct 13, 2010 8:03pm
Quoting jarroo
Very nice Pb . . .an excellent exercise . . one that I learned from James16 and Mike . .
Thanks Jarroo, this kind comment couldn't have come at a better time. LOL

I am blowing my fuses.
  • #77,386
  • Oct 13, 2010 8:06pm Oct 13, 2010 8:06pm
Quoting joelcf



I'm always out there, watching. Kind of like Batman, but instead of fighting crime I lecture people on the internet
hahah you always crack me up man
  • #77,387
  • Oct 13, 2010 8:13pm Oct 13, 2010 8:13pm
EURCHF BOVB 4HR


was gonna take it at the 23.8 retrace but it closed right at the 23.8 retrace from the high.
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  • #77,388
  • Oct 13, 2010 8:30pm Oct 13, 2010 8:30pm
whats BOVB ?
  • #77,389
  • Oct 13, 2010 8:33pm Oct 13, 2010 8:33pm
Quoting billm
Is the 150 ema applied to the 4Hr chart only and factored x4 when looking at a 1Hr chart ?
Not sure but my guess is every time frame has it's own calculations for the MAs, because obviously the 150 bar closes that the 1H has will be different to the price values of these bar closes on the 4H,

g.
I believe . . .
  • #77,390
  • Oct 13, 2010 8:48pm Oct 13, 2010 8:48pm
Quoting fascist
where would your TP be?
sorry I didn't respond, I went to bed shortly after. I was looking at 1.5900 as an area to move my SL to BE with my TP around 1.5815.

I ended up moving my SL to BE when it broke 1.5900 and taking 1/2 off because I was no longer able to watch the trade. It went down but missed my TP by 20 pips. Got stopped out but still a little something in the bank.
  • #77,391
  • Oct 13, 2010 9:26pm Oct 13, 2010 9:26pm
got 2 nice looking pbs here. Just looking at PA alone, since each has already broke the pb would it be still a potential trade? Neither would have triggered my entry yet (spread + buffer).
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  • #77,392
  • Oct 13, 2010 9:36pm Oct 13, 2010 9:36pm
How do you guys like to play potentail trades like this one? Do you pefer the play on the break of the BRN or do you wait for a break and look for a play off the retrace? IMO I think this one will either break hard or head back down. I think it has spent too much time around the BRN for a fakeout.
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  • #77,393
  • Oct 13, 2010 9:53pm Oct 13, 2010 9:53pm
Quoting spookie94
got 2 nice looking pbs here. Just looking at PA alone, since each has already broke the pb would it be still a potential trade? Neither would have triggered my entry yet (spread + buffer).
IMO, the close wasn't above BRNs. A pass for me but that doesn't mean it wouldn't go up.
  • #77,394
  • Oct 13, 2010 10:03pm Oct 13, 2010 10:03pm
Hi, I am not sure if James16 still here or not, hopefully some official members or students member can help me out.

I like to have some updated information on james16 group.

So it is 129 a month, and is it still month to month services? meaning I can stop if it is not satisfactory? Also if subscribed one year, is it totally free after that or there will be other service charge.

Either way is fine, but I like to be sure, I don't think the sign me up page is clear enough.

The guest areas video show videos up to 2008, are there any new video going on? Is the group still actively running?

I know many newbie questions, I tried to read the whole thread, but it is 5160 pages in total and I only up to 35.

Thanks in advanced for any answer.
  • #77,395
  • Oct 13, 2010 10:25pm Oct 13, 2010 10:25pm
Quoting ertorque
IMO, the close wasn't above BRNs. A pass for me but that doesn't mean it wouldn't go up.
Good point. I am passing on these because the Pb is smaller in size compared to the previous bear bar.

I was just using these to charts as an example to see if they were still valid to trade into because the pbs have already been broken. Or is the setup valid until it breaks your trigger? Or would I be "chasing these"?
  • #77,396
  • Oct 13, 2010 10:50pm Oct 13, 2010 10:50pm
Quoting Osman
Im sure many of you guys have heard of pair index,
....
Quoting Adilius07
Thanks... I checked my Thinkorswim broker, unfortunately looks like it doesn't have it. I could've added this to my instrument list...
Quoting joelcf
You can use
....
you can construct your own synthetic - that's likely all your broker is doing anyway.....
Adilius,
i view it just like joel: it's an in-house index by that broker (SIGtrader)

Quoting roundrock
whats BOVB ?
it's BuOVB = bullish outside vertical bar
simply BUOB

Quoting Pinbar
Great charts xmzhang, looks like an intricate electrical circuit board.....
His charts are a reflection of his being an electrical engineer
  • #77,397
  • Oct 13, 2010 10:54pm Oct 13, 2010 10:54pm
Quoting spookie94
Good point. I am passing on these because the Pb is smaller in size compared to the previous bear bar.

I was just using these to charts as an example to see if they were still valid to trade into because the pbs have already been broken. Or is the setup valid until it breaks your trigger? Or would I be "chasing these"?
Hey Spookie

i think it becomes chasing it, b/c that is exactly why we use buffers so we don't get in before a specific level breaks, for that specific reason to keep us aside.

I agree with the analysis that these pinbars are under strong previous support potential resistance areas, and closed very weak. Lack any real bullish sentiment on them

Best
Mike
  • #77,398
  • Oct 13, 2010 11:01pm Oct 13, 2010 11:01pm
Quoting uBERpIP
Thanks for the feedback!

With not a lot of screen time behind me, it's amazing how the 2nd guessing just eats at you as long as you keep watching the market after putting on a trade.

Although I exited this position profitable, I still completely broke the pre-trade rules I made. Since I am on demo, I told myself I was going to look for my opportunity, set the SL and then leave the trade alone. Risking 1% is good MM, so I should only be trading an opportunity where I am convinced losing that 1% is worth the opportunity that I see ahead...
Yep . .we all do the same thing . . .time and practise . .baby steps, they add up quick over time.

Price sure is respecting that 1.4100 . .would have like to have seen a Daily bar close strong below the 1.4000 to continue to the next target.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,399
  • Oct 13, 2010 11:12pm Oct 13, 2010 11:12pm
Quoting mbqb11
Hey Spookie

i think it becomes chasing it, b/c that is exactly why we use buffers so we don't get in before a specific level breaks, for that specific reason to keep us aside.

I agree with the analysis that these pinbars are under strong previous support potential resistance areas, and closed very weak. Lack any real bullish sentiment on them

Best
Mike
thanks Mike
  • #77,400
  • Oct 13, 2010 11:15pm Oct 13, 2010 11:15pm
Quoting ghous
Not sure but my guess is every time frame has it's own calculations for the MAs, because obviously the 150 bar closes that the 1H has will be different to the price values of these bar closes on the 4H,

g.

I hear the 25 EMA is good on the H4.
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