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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

  • #92,981
  • Apr 5, 2011 2:49pm Apr 5, 2011 2:49pm
Quoting jarroo
This is a deja vu, all over again from a very similar trade that Jim took last fall . . .let me find it. . .
Oh I hope I was not the one to complain about it back then too (deja vu) ... because I usually do so here behind my screen each time I see someone posting trades off them....
  • #92,982
  • Apr 5, 2011 2:52pm Apr 5, 2011 2:52pm
Quoting Adilius07
Thanks for reply Jarroo, is just in my thinking it is always was like this: If something can be used for confluence the same thing must be watched to not fade against. Like PPZ, BRN - good example, we use them for confluence and we don't trade right against them.

With MA's is very different somehow


Quoting james16
Hey big dan. Here is one for ya.
Check out this trade from Jim last year . .very similar to the GbpJpy trade. Notice the 365 ema was above this time . .I'm sure Jim was vvvery aware of its presence. . .but the overriding structure of the trade was there. . .you can see what happen to the Euro days, weeks later.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #92,983
  • Edited 3:15pm Apr 5, 2011 2:56pm | Edited 3:15pm
Quoting jarroo
Check out this trade from Jim last year . .very similar to the GbpJpy trade. Notice the 365 ema was above this time . .I'm sure Jim was vvvery aware of its presence. . .but the overriding structure of the trade was there.

Here's some comments made from James16 about the Eur/Usd trade in Sept 2010:

James16:

"A huge portion of what we do is based on an understanding of side to side support and resistance.

We concentrate on being patient and treating this like a business instead of a gambling hall.

Here is a current trade based on NO BAR AT ALL.

This is based on side to side support and a retrace entry to a large round number. it provides a huge upside potential with a stop as low as 30 pips on a DAILY chart.

THE KEY IS STARTING OUT ON DAILY OR WEEKLY CHARTS ON DEMO AND LEARNING TO SIT ON YOUR HANDS UNTIL THE RIGHT SET UP PRESENTS ITSELF."
Indicators show the past. Price Action "Indicates" the future.
  • #92,984
  • Apr 5, 2011 3:05pm Apr 5, 2011 3:05pm
Quoting jarroo
Check out this trade from Jim last year . .very similar to the GbpJpy trade. Notice the 365 ema was above this time . .I'm sure Jim was vvvery aware of its presence. . .but the overriding structure of the trade was there. . .you can see what happen to the Euro days, weeks later.
Thank you! Looks almost the same.
So obviously James puts different weight on MA in different situations. In other words he could sometimes notice it and it's importance, sometimes it would be ignored, all based on the market action at that time.

Me as a newbie I don't think I could do that consistently, so I think it is better to take it off comepletely.
  • #92,985
  • Apr 5, 2011 3:05pm Apr 5, 2011 3:05pm
Quoting six gun
Jarroo mate. Here is my chart.
They are defo 365 and 150 ema on close.
This would make the ema's unusable if they were so different.
I seriously can't understand this. A slight difference but not this much
Which one's the 365 ema ? the one by the 138.00?
Indicators show the past. Price Action "Indicates" the future.
  • #92,986
  • Apr 5, 2011 3:11pm Apr 5, 2011 3:11pm
Quoting Adilius07
Thank you! Looks almost the same.
So obviously James puts different weight on MA in different situations. In other words he could sometimes notice it and it's importance, sometimes it would be ignored, all based on the market action at that time.

Me as a newbie I don't think I could do that consistently, so I think it is better to take it off comepletely.
They are never ignored . .lol . .but back to your main point you made, Adilius . .the strength of the setup itself was the important factor here. . .

Strong Resistance level . .Price Breaks Through and Closes Above . .turns into Support.


You can certainly drop them from your chart . .Mike doesn't use them . .and he does just fine . .
Indicators show the past. Price Action "Indicates" the future.
  • #92,987
  • Apr 5, 2011 3:17pm Apr 5, 2011 3:17pm
Quoting jarroo
Check out this trade from Jim last year . .very similar to the GbpJpy trade. Notice the 365 ema was above this time . .I'm sure Jim was vvvery aware of its presence. . .but the overriding structure of the trade was there. . .you can see what happen to the Euro days, weeks later.
Hi Jarroo

The same chart came to my mind after seeing the GJ example. Thx for the voucher btw
  • #92,988
  • Apr 5, 2011 3:18pm Apr 5, 2011 3:18pm
Quoting jarroo
Which one's the 365 ema ? the one by the 138.00?
The blue line up at the top. 365ema on close
The pink is 150

It is a mile higher than the GBP/JPY chart that was sent out today.
  • #92,989
  • Apr 5, 2011 3:23pm Apr 5, 2011 3:23pm
Quoting Greenhaze
Hi Jarroo

The same chart came to my mind after seeing the GJ example. Thx for the voucher btw

Sure thing GH . . . .I like your style my friend, and your fundamental "funnydementals . .lol" confluence with trades.


Yeah I know . .the 1.61 on the GU is still holding now . . .
Indicators show the past. Price Action "Indicates" the future.
  • #92,990
  • Apr 5, 2011 3:29pm Apr 5, 2011 3:29pm
Quoting six gun
The blue line up at the top. 365ema on close
The pink is 150

It is a mile higher than the GBP/JPY chart that was sent out today.
What broker feed is that? I can't find any of my feeds that place the 365 there.
Indicators show the past. Price Action "Indicates" the future.
  • #92,991
  • Apr 5, 2011 3:30pm Apr 5, 2011 3:30pm
Quoting supremeChaos
looking at your chart..
if 1.4800 - 1.4870 area holds as support (see the horizontal line in your chart @1.4876 acting as a nice PPZ), i think it's almost ripe for a move towards 1.54 - 1.56 area.

along the way, potential trouble spots are
1.50 (not given a lot of respect as seen on the chart, as price zigzags through it)
& 1.51 - 1.52 area.
Sorry bit late on this one just catching up on today's posts. I'm looking at the 1.5 level too, didn't check the fibs but having drawn them on now the 61.8 lines up nicely too. SC the 1.5 level looks a lot neater on the monthly.

https://lh4.googleusercontent.com/_T...pchf-daily.gif

https://lh6.googleusercontent.com/_T...hf-monthly.gif
  • #92,992
  • Apr 5, 2011 3:38pm Apr 5, 2011 3:38pm
Quoting jarroo
What broker feed is that? I can't find any of my feeds that place the 365 there.
GFT.

It is automatically on GMT but that won't make any difference.
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  • #92,993
  • Apr 5, 2011 3:39pm Apr 5, 2011 3:39pm
Quoting jarroo
What broker feed is that? I can't find any of my feeds that place the 365 there.
Has to do with broker time/time-zone.

First chart oanda with 7 hours left behind,
second chart SIG.

Both ema 365 close.
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  • #92,994
  • Apr 5, 2011 3:44pm Apr 5, 2011 3:44pm
Quoting fxgroup
You are right my friend,the consolidation within the PB's range was great and as you said ...patience....because the patience...rewards.First target hit,partial profit banked,SL at BE and looking for 1.58 zone.
Second target hit,only 10% in,looking to 1.5826 to close all.
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Nothing personal,just business
  • #92,995
  • Apr 5, 2011 3:44pm Apr 5, 2011 3:44pm
Quoting peaches
Has to do with broker time/time-zone.

First chart oanda with 7 hours left behind,
second chart SIG.

Both ema 365 close.
Oh, I see . . .Thanks peaches ..
Indicators show the past. Price Action "Indicates" the future.
  • #92,996
  • Apr 5, 2011 3:46pm Apr 5, 2011 3:46pm
Quoting peaches
Has to do with broker time/time-zone.

First chart oanda with 7 hours left behind,
second chart SIG.

Both ema 365 close.
That means ema is useless. Well I am on GMT so at least London will be working on the same time as me.

The ema is useful because it is commonly plotted and so lots of people see it and react to it. If we are seeing different things that makes it much less effective.
  • #92,997
  • Apr 5, 2011 3:46pm Apr 5, 2011 3:46pm
Quoting fxgroup
Second target hit,only 10% in,looking to 1.5826 to close all.
Quoting fxgroup
You are right my friend,the consolidation within the PB's range was great and as you said ...patience....because the patience...rewards.First target hit,partial profit banked,SL at BE and looking for 1.58 zone.
Looking good, fxg . . .
Indicators show the past. Price Action "Indicates" the future.
  • #92,998
  • Apr 5, 2011 3:47pm Apr 5, 2011 3:47pm
Quoting six gun
Jarroo mate. Here is my chart.
They are defo 365 and 150 ema on close.
This would make the ema's unusable if they were so different.
I seriously can't understand this. A slight difference but not this much
yeah, which broker feed is that?
(presence/absence of) Sunday bars (like on James16's chart) & broker datafeed are the main factors.

Quoting Adilius07
...
With MA's is very different somehow
Quoting Adilius07
.. In other words he could sometimes notice it and it's importance, sometimes it would be ignored, all based on the market action at that time.
Me as a newbie I don't think I could do that consistently, so I think it is better to take it off completely.
if that is how u feel about it, then i think it's the best that u can do & it's what's gonna benefit u most, for now.
the use & choice of MAs is personal/subjective, much like the use (& plotting of) Fibs, TLs, indicators
  • #92,999
  • Edited 4:06pm Apr 5, 2011 3:48pm | Edited 4:06pm
Quoting six gun
Jarroo mate. Here is my chart.
They are defo 365 and 150 ema on close.
This would make the ema's unusable if they were so different.
I seriously can't understand this. A slight difference but not this much
Hope you dont mind me jump in ... i noticed a while back it can have huge diference from 60-70 pips in some cases . And depending on your trade managment it can mean a lossing trade instedad of wining one or you dont enter it at all lol
one example for EUR/CHF that i liked but didnt play it

1st feed is FXCM 2th is IBFX ...

I know i didnt give answer to this ... but im confused about it allso .
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  • #93,000
  • Apr 5, 2011 3:55pm Apr 5, 2011 3:55pm
Quoting supremeChaos
yeah, which broker feed is that?
(presence/absence of) Sunday bars (like on James16's chart) & broker datafeed are the main factors.



if that is how u feel about it, then i think it's the best that u can do & it's what's gonna benefit u most, for now.
the use & choice of MAs is personal/subjective, much like the use (& plotting of) Fibs, TLs, indicators
Hi supreme
It is a Dealbook 360 platform broker is GFT on GMT time.
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