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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

  • #86,081
  • Edited 2:54pm Jan 17, 2011 1:45pm | Edited 2:54pm
Quoting spookie94
You mean Ive been taking trading advise from someone who could'nt even drink leagally (in US) . LOL.
And it's some of the best advice you'll receive here at that Happy Birthday Ghous! Do it up right brother, 21 flies by.
I dream, therefore I become.
  • #86,082
  • Jan 17, 2011 1:47pm Jan 17, 2011 1:47pm
I was going through my charts and that is what I have discovered, lol... This is 1 year of information for this pair. Can you show an A+ trade (whatever this trade maybe for you).... Anyone? Please.

P.s. I was not able to find one..if I am picky and take ppz, space, bar size and structure into consideration there is just no trades for me...

http://finviz.com/fx_image.ashx?usdj...08713450468750
  • #86,083
  • Jan 17, 2011 1:55pm Jan 17, 2011 1:55pm
Happy Birthday Ghous!
Wish you all the best on your journey to success!!!
  • #86,084
  • Jan 17, 2011 1:59pm Jan 17, 2011 1:59pm
Wow...I am deeply honored.

Thank you very very much everyone. Much appreciated.

It's good to be 21. I am really bring flushed here with emotions - all sorts of them and I don't even think I can translate them in words. So instead of making this a nonsense post I'd rather keep them inside and allow them to subside as this Birthday bash ends. Again the day's end couldn't have been better to see so many warm wishes from my family here.

And no I didn't spend the day here at the thread, but for all the wrong reasons. Anyways it was still better studying finance than one of those crappy qualitative management courses.

Love ya'll!

g.
I believe . . .
  • #86,085
  • Jan 17, 2011 2:10pm Jan 17, 2011 2:10pm
Quoting spookie94
You mean Ive been taking trading advise from someone who could'nt even drink leagally (in US) . LOL.
I can't find more space for an age disclaimer in my sig. lol

No but seriously, you guys rate me higher than I probably deserve. I am not even close when it comes to every aspect of trading skills that Mike, Jarroo, the big guy and the other senior pros posses. I am blessed to have these guys at my head for long enough to learn something, and that is really the truth.

The purpose behind every post here is to fulfil the promise we've all made to the big guy in return for all he's done for us - to show the same torch of light to others that seek refuge here at this thread.

I've been asked several times, if I get paid to do what I do here. And boy does that hurt.

g.
I believe . . .
  • #86,086
  • Jan 17, 2011 2:19pm Jan 17, 2011 2:19pm
Quoting ghous

I've been asked several times, if I get paid to do what I do here. And boy does that hurt.

g.
Ghous
I don't believe in anything supernatural, but I refuse to disbelieve in Karma, and from what I've read from you already, I truly hope you're getting yours
Happy Birthday

Michael
  • #86,087
  • Jan 17, 2011 2:23pm Jan 17, 2011 2:23pm
Quoting Adilius07
I was going through my charts and that is what I have discovered, lol... This is 1 year of information for this pair. Can you show an A+ trade (whatever this trade maybe for you).... Anyone? Please.

P.s. I was not able to find one..if I am picky and take ppz, space, bar size and structure into consideration there is just no trades for me...

http://finviz.com/fx_image.ashx?usdj...08713450468750
Here you go Adill,
After 5 min staring this two jumped out as A+ for me.
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Anything can happen - You never know
  • #86,088
  • Jan 17, 2011 2:28pm Jan 17, 2011 2:28pm
Quoting kwikwis
Here you go Adill,
After 5 min staring this two jumped out as A+ for me.
Attachment
Hey Kwik, thanks for reply! Of course I saw them too, however don't those both beobs closed right above a strong ppz level? (those series of bar highs)

Edit: and with first one, besides ppz there is a lot of traffic too, the trade would be heading right into traffic
  • #86,089
  • Jan 17, 2011 2:42pm Jan 17, 2011 2:42pm
Quoting Adilius07
Hey Kwik, thanks for reply! Of course I saw them too, however don't those both beobs closed right above a strong ppz level? (those series of bar highs)

Edit: and with first one, besides ppz there is a lot of traffic too, the trade would be heading right into traffic
Looks like a good high quality setup to me. Divergence, strong beob, BRN, strong level to watch where price is likely to go.
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  • #86,090
  • Jan 17, 2011 2:45pm Jan 17, 2011 2:45pm
Quoting mbqb11
Looks like a good high quality setup to me. Divergence, strong beob, BRN, strong level to watch where price is likely to go.
Thanks Mike. So sorry i'm on my ipad now and can't draw on chart. But i see that blue box you have a little higher (where those series of highs are) no? If so the beob closed right at that support level.
  • #86,091
  • Jan 17, 2011 2:52pm Jan 17, 2011 2:52pm
Quoting Adilius07
Thanks Mike. So sorry i'm on my ipad now and can't draw on chart. But i see that blue box you have a little higher (where those series of highs are) no? If so the beob closed right at that support level.
Hey Adi

Notice if you sell a break of the low of the beob(making it valid) you are under those bar highs you are talking about. Then we have a very logical area(my blue box I think we agree is very obvious looking) of wehre to watch. The flip side though are your bar highs we can use to help manage our trade right? If price starts to bounce around and that area can't hold we have a place to cut out. Or if price drops to my area, we can move our stops down if we want to see if it will run more. All the information is important, it is about using it in a logical way together as a whole. Notice trades posted by James, myself or others that have been doing this we try to use all the information to better develop our entry and mgmt. Notice also my blue box ended up holding as resistance again after breaking through(not that many wouldn't be out if they caught that crazy down move, but it still shows the power). And notice the 3 bar lows(that price just closed under) price retraced to there before dropping down. Doesn't that look like great information to use to help manage ones trade(say move stop down above that high?)

Hope this helps give you a better idea of how I work through a chart
Mike
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  • #86,092
  • Jan 17, 2011 2:55pm Jan 17, 2011 2:55pm
Quoting Adilius07
Can you show an A+ trade (whatever this trade maybe for you).... Anyone? Please.
Hey Adi, what's up. I'll take a stab at this too. I highlighted my view of some good setups with relevant FTA. 5 winners assuming you took profit at FTA, 1 loser and one tricky passed setup.

Hope this helps,

-- Danny
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  • #86,093
  • Jan 17, 2011 2:55pm Jan 17, 2011 2:55pm
Quoting Adilius07
I was going through my charts and that is what I have discovered, lol... This is 1 year of information for this pair. Can you show an A+ trade (whatever this trade maybe for you).... Anyone? Please.

P.s. I was not able to find one..if I am picky and take ppz, space, bar size and structure into consideration there is just no trades for me...

http://finviz.com/fx_image.ashx?usdj...08713450468750
yeah i agree there wasnt many on the daily, not at home so cant look properly or post charts but after a quick look i saw these. there were multiple break out trades (if you use TLs or patterns )and a few decent looking IBs, but not A+imo. but for pure PA trades i found these 2 only

may the 5th...BEOB off BRN with great divergence (RSI 9 period, my standard setting) for me an A+

June 4th...BEOB from 92 RN PPZ good divergence (from may 13th high) not a cherry but very tradable imho.

let me know wot u think?

jon

EDIT: oh.. i see Mike beat me too it. lol
PATIENCE... DISCIPLINE
  • #86,094
  • Jan 17, 2011 2:56pm Jan 17, 2011 2:56pm
Quoting Adilius07
Thanks Mike. So sorry i'm on my ipad now and can't draw on chart. But i see that blue box you have a little higher (where those series of highs are) no? If so the beob closed right at that support level.
Is just I was thinking how realistic it is to have all these criteria I have now and still be able to trade. I have to violate something, and when I do I get a loser. Ok even if I don't violate anything and take 1 or 2 trades per year per pair and if I use tight trade management they could be BE as well.. This definitely not how I want it to be of course, so where is my error hiding?
  • #86,095
  • Jan 17, 2011 3:00pm Jan 17, 2011 3:00pm
Quoting ghous
I can't find more space for an age disclaimer in my sig. lol

No but seriously, you guys rate me higher than I probably deserve. I am not even close when it comes to every aspect of trading skills that Mike, Jarroo, the big guy and the other senior pros posses. I am blessed to have these guys at my head for long enough to learn something, and that is really the truth.

The purpose behind every post here is to fulfil the promise we've all made to the big guy in return for all he's done for us - to show the same torch of light to others that...
I guess I can let it slide that your still a young one. At least your studing finance.
  • #86,096
  • Jan 17, 2011 3:01pm Jan 17, 2011 3:01pm
Yes thanks. I see the entry would be below those bars highs, but as I also heard many times here, markets are not perfect and the s/r is not just a line but more a zone. I just afraid that in real life i would consider this to be a strong support zone...

Quoting mbqb11
Hey Adi

Notice if you sell a break of the low of the beob(making it valid) you are under those bar highs you are talking about....
  • #86,097
  • Jan 17, 2011 3:04pm Jan 17, 2011 3:04pm
Quoting bluetrader
Hey Adi, what's up. I'll take a stab at this too. I highlighted my view of some good setups with relevant FTA. 5 winners assuming you took profit at FTA, 1 loser and one tricky passed setup.

Hope this helps,

-- Danny
Thanks Danny, oh man was my mistake to start this question when my normal pc is not available. But i really see ppz levels against those setups. Anyway thanks a lot for your chart. I will come to my pc today and try to analyze why i see things differently than you guys.
  • #86,098
  • Jan 17, 2011 3:09pm Jan 17, 2011 3:09pm
Quoting Adilius07
Hey Kwik, thanks for reply! Of course I saw them too, however don't those both beobs closed right above a strong ppz level? (those series of bar highs)

Edit: and with first one, besides ppz there is a lot of traffic too, the trade would be heading right into traffic
There will be always some PPZ below or above.Imho thats where importance of FTA comes into play - how far the setup can go with higher probability.
1st DBLHLC is at double top and yes there is a lot of traffic but FTA is clear to me around 93.
2nd BEOB closed below PPZ 92 and FTA is around 91.
Thats what i see.
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Anything can happen - You never know
  • #86,099
  • Edited 3:14pm Jan 17, 2011 3:09pm | Edited 3:14pm
Hey Jon, thanks! Have you noticed that you pointed exactly the same trades that Kwikwis and one of Mike with same way of thinking on Mike's trade. And to be honest I didn't like those two the most!!! I liked the one that Danny show (second arrow)- the long trade off a double bottom with some space (however i found some ppz on the way too so skipped it)

So I don't know why is it this with me...
Overanalysing maybe or something.

Quoting g_j_hook@yah
yeah i agree there wasnt many on the daily, not at home so cant look properly or post charts but after a quick look i saw these. there were multiple break out trades (if you use TLs or patterns )and a few decent looking IBs, but not A+imo....
  • #86,100
  • Jan 17, 2011 3:12pm Jan 17, 2011 3:12pm
Quoting mbqb11
Looks like a good high quality setup to me. Divergence, strong beob, BRN, strong level to watch where price is likely to go.
that was an extremely fun trade to be a part of, and an absolutely unbelievable historic day in the markets.

I still think about it regularly.

what madness....
Many choose unhappiness over uncertainty.
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