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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

  • #85,041
  • Jan 9, 2011 1:36pm Jan 9, 2011 1:36pm
Quoting nwo-trader
Cool, thank you Adi, If we had the resources we could get a system like this lol jj

Source - http://www.flickr.com/photos/steve_p...7623389907037/
cccrrraaaaaaaaaazy man,how can they make sense of that much spray graffitti
  • #85,042
  • Jan 9, 2011 2:02pm Jan 9, 2011 2:02pm
There you go. Another one.
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  • #85,043
  • Jan 9, 2011 2:11pm Jan 9, 2011 2:11pm
Quoting Adilius07
There you go. Another one.
I look at it and I see not much space, but possibly a box. So the trade of the upper extreme of the box? Maybe ok with tight trade management...
  • #85,044
  • Jan 9, 2011 2:15pm Jan 9, 2011 2:15pm
4:15 am here
good night all
  • #85,045
  • Jan 9, 2011 3:45pm Jan 9, 2011 3:45pm
Hello everybody. Very interesting, what are you think about GDP/USD for this week. 1.55 - important level, don't thik so?
  • #85,046
  • Jan 9, 2011 3:54pm Jan 9, 2011 3:54pm
Quoting Adilius07
Hello Ppfx...
Do you know if I can make it auto with this? Looks so (by the fields) but I cannot get it to work in auto...!!
Quoting Adilius07
Wow that gives me exact the same amount in UNITS as I was doing just now myself!!! Lol, thanks a lot!!! I saw that site before but I thought it is only good for lots... haha, now I got two ways to calculate exact size http://cdn.forexfactory.com/images/s.../yim/happy.gif
right in the top middle part, look for 'Use Custom Settings'. put a check on that one & start from there.
  • #85,047
  • Jan 9, 2011 3:58pm Jan 9, 2011 3:58pm
Quoting hupipko
Hi ddinnov
Thank you for the Trading log Excel sheet....
bumping this so ddinov get to see it more.

welcome Imre...
overtrading is a typical disease.
i still overtrade.
u just have to overcome &/or minimise it somehow.
please keep posting!
  • #85,048
  • Jan 9, 2011 4:03pm Jan 9, 2011 4:03pm
Quoting Daskus
Hello everybody. Very interesting, what are you think about GDP/USD for this week. 1.55 - important level, don't thik so?
Hello Daskus,
maybe u can post a chart so we can get to understand your point more..

1.55/1.5550 looks critical, yes.
i expect price to revisit 1.56 area soon.
& possibly, go to 1.58 - 1.60 this week. if so, i would watch PA around 1.56 - 1.57 to see if price is really bullish/has potential to move further up.

hope that helps
  • #85,049
  • Jan 9, 2011 4:31pm Jan 9, 2011 4:31pm
Quoting supremeChaos
Hello Daskus,
maybe u can post a chart so we can get to understand your point more..

1.55/1.5550 looks critical, yes.
i expect price to revisit 1.56 area soon.
& possibly, go to 1.58 - 1.60 this week. if so, i would watch PA around 1.56 - 1.57 to see if price is really bullish/has potential to move further up.

hope that helps
GBP/USD W has DBLHC not triggered yet. I like it long on the break of the bar and trend line.
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Anything can happen - You never know
  • #85,050
  • Jan 9, 2011 4:41pm Jan 9, 2011 4:41pm
Quoting kwikwis
GBP/USD W has DBLHC not triggered yet. I like it long on the break of the bar and trend line.
that's a possible trade setup, Sir.
just have to be careful/alert... as price might still be in consolidation &/or holiday mode.
  • #85,051
  • Jan 9, 2011 4:57pm Jan 9, 2011 4:57pm
Quoting Dan Gilbert
It's funny you say this because I have always thought the same thing. I still believe that at times, you have some price action prior to the NFP friday indicating what it will be. I know I have traded some CAD price action in the past that was the day before a big release, and surprise surprise, the PA was correct to how the market responded to the news release....
So you think that the report is completed a few days before the release? Then some bold PA days before the release would make sense . . .insiders with an edge of knowing what others don't and taking a position.

Just curious when the report is actually completed, a fews days or a few weeks before. A few days would make sense . . . gathering and compling up the prior month's data takes time . .or maybe not . .
Indicators show the past. Price Action "Indicates" the future.
  • #85,052
  • Jan 9, 2011 5:08pm Jan 9, 2011 5:08pm
Quoting nwo-trader
Cool, thank you Adi, If we had the resources we could get a system like this lol jj

Source - http://www.flickr.com/photos/steve_p...7623389907037/
that is like a seizure making machine, jeez
  • #85,053
  • Jan 9, 2011 5:22pm Jan 9, 2011 5:22pm
Quoting Pinbar
GBP/CHF location is looking interesting.

EDIT: Sort of a seeking light TL there, don't worry about it folks.
If it is good enough for SL, it sure is good enough for me.

And I am thinking of these areas like a soccer pitch recently, we are now approaching the midfield area.
Who is going to take the ball and run with it here, the Bear team or the Bull team.
The Bear team have their defenders just above this area to tackle any would be bulls.

All we have to do is wait for the best team to take the ball and let the referee show us his flag as...
Nice charts, Pb.


Notice on the Weekly at the 1.5310 ish level (in white). No bar closed below it and lines up nicely with the bar lows in blue. Then price breaks through and closes below . (Weekly chart)

But your right on . . on the Daily, those bar Lows in green are definitely in play to support some Bearish PA.

Notice that if bearish PA develops at the Yellow areas I marked, they will be at a swing high.

Good eye . .Steve.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,054
  • Jan 9, 2011 5:33pm Jan 9, 2011 5:33pm
Quoting torontobboy2
off topic..but its about metatrader
if i am viewing daily and i enter my notes, when i go down to 4hour or 1 hour the location of that text changes. its no longer visible. is there a way to enter text in metatrader so my notes are always visible on top right which time frame i'm looking at?
Using the "Text label" tool instead of the "Text" tool should help you resolve this.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,055
  • Jan 9, 2011 5:36pm Jan 9, 2011 5:36pm
Woo Hooo!!! Lifetime member as of today.....
  • #85,056
  • Jan 9, 2011 5:54pm Jan 9, 2011 5:54pm
Quoting slade1986
Woo Hooo!!! Lifetime member as of today.....

Good for you, slade . .
Indicators show the past. Price Action "Indicates" the future.
  • #85,057
  • Jan 9, 2011 6:17pm Jan 9, 2011 6:17pm
Quoting torontobboy2
Can someone take a look and suggest a room for improvement?
I dont want to be overloaded with information i'm drawing on my charts...and want to ensure ppz is correctly drawn...

thanks for the comments

I'm sure that you have read the 1st post of this thread where James16 talks about starting on the Daily and Weekly time frames.

It is on these times frames where we look for our PPZ levels and wait for PA to develop.

I would start there, toronto.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,058
  • Jan 9, 2011 8:22pm Jan 9, 2011 8:22pm
Quoting jarroo
A work of art on so many levels Mike . . . .great trade to start the year.


The Gbp/Nzd appears to have (or had) a simliar setup. I'm looking to see the 2.0500 to continue to act as strong Resistance ( previous strong Support). Bearish PA at this level.

I'm wondering it this flag setup still has potential or has it fullfilled itself by reaching its target(s) and thus no longer has potential. . . I suspect the latter.


Thanks Mike,


Jim
Sorry Jim, i didnt realise it was GbpNzd -i thought it was the one Mike took earlier.I agree with you 2.050 was still resistance on daily.But the 2.0375 level that had me confused.On daily this level was still support but our 4Hour PB off 2.050 couldnt close below 2.0375.Last night i read your back post when you and J16 was discussing a failed PB with a very near FTA below it.You and J16 seem to suggest placing order below the very near FTA.However it made me wonder -arent you afraid of false break?
  • #85,059
  • Jan 9, 2011 8:47pm Jan 9, 2011 8:47pm
Take a look at 3 hour USD/EUR chart. This would be a pinbar correct?

Looking to go short.
What is any ocean but a multitude of drops?
  • #85,060
  • Jan 9, 2011 8:53pm Jan 9, 2011 8:53pm
Quoting jarroo
Nice charts, Pb.


Notice on the Weekly at the 1.5310 ish level (in white). No bar closed below it and lines up nicely with the bar lows in blue. Then price breaks through and closes below . (Weekly chart)

But your right on . . on the Daily, those bar Lows in green are definitely in play to support some Bearish PA.

Notice that if bearish PA develops at the Yellow areas I marked, they will be at a swing high.

Good eye . .Steve.

Many thanks Jarroo.

It is the eye you lent me, my friend.


Got to keep it polished & shiny to retain that Gleam it had, before you so kindly lent it to me!
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