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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

  • #95,961
  • Jun 3, 2011 3:30am Jun 3, 2011 3:30am
Quoting supremeChaos

are u familiar with Russian Matryoshka dolls? where the smaller dolls get stacked inside another?
that's how we want the IB's to look like, as opposed to the ones on the chart which are randomly situated within the confines of a big (mother) candle.
That's THE comparison buddy
Follow my trading on Twitter and FB: @pumlitch
  • #95,962
  • Jun 3, 2011 3:51am Jun 3, 2011 3:51am
Quoting supremeChaos
no merienda (afternoon snack), Sir

ah, i do.... charts


hello pipphunter,
glad to see u posting.

http://theworldstore.files.wordpress...ian_dolls1.jpg

are u familiar with Russian Matryoshka dolls? where the smaller dolls get stacked inside another?
that's how we want the IB's to look like, as opposed to the ones on the chart which are randomly...
Love your analogy SC.
  • #95,963
  • Jun 3, 2011 4:01am Jun 3, 2011 4:01am
Quoting pipphunter
Thanks SC, for your advise and correcting me. I will study more in regrd to the IBs. from your experience, would your think this will be good trade if it get triggered. do you personally will take trader like this, or wait better oppotunity to come.
appreicate your quick respond.
hey pipphunter, im not SC but i dont think this is something he would take.
my chart looks very different due to closing times of the bars and mine is looking more bullish than bearish. that big bearish candle and the first ib on your chart is just a spike on mine thrusting below some recently broken resistence that has now become support. To me the fact that price didnt last long under this level shows the bullish sentiment.
on my chart price is currently forming BUOB after retesting this level so i would personally be more bullish right now. i drew in a red line to try and highlight the level price has broke and retested. Right now i personally wouldnt like to bet on which way it will go, especially with the non farm numbers coming later.
IBs can be tricky to trade but they can also be great setups, but as with them all we need to very picky and try and take the "bigger picture" in to account also.There is alway an obvious setup on the way.
just my view

hope this helps

jon
Attached Image(s) (click to enlarge)
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PATIENCE... DISCIPLINE
  • #95,964
  • Jun 3, 2011 5:48am Jun 3, 2011 5:48am
Quoting pipphunter
.. would your think this will be good trade if it get triggered. do you personally will take trader like this, or wait better opportunity to come. ....
i havent traded outside FX, & i dont know the overall behavior of Gold, so i cant help much in that regard.

having said that, Gold looks overall bullish on daily.
i agree with jon (g_j) above... my concern is 1500-1520 might not be far enough from your entry (are u quick enough to react/take profits?). this area might give u a problem.
in case price moves with momentum...., possible trouble areas below 1500 are 1480, 1450, 1430 areas.
jon also mentioned it's US NFP later today

so overall, i'd be comfortable looking for/trading other setups.

Quoting Pumlitch
That's THE comparison buddy
Quoting plund
Love your analogy SC.
thank you, Pumlitch & plund
  • #95,965
  • Jun 3, 2011 6:23am Jun 3, 2011 6:23am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting aserbfx
so, finally got green lights from the doctors yesterday for my trip to india.
will be off from tomorrow for three weeks.
have a good time so long....

-----------------------------------

hope to be able to board my train...
Enjoy your ride bro, you should be doing this as below to gain maximum enjoyment;
http://i77.photobucket.com/albums/j5...ier/india5.jpg

http://i77.photobucket.com/albums/j5...ier/india4.jpg

http://i77.photobucket.com/albums/j5...ier/india3.jpg

http://i77.photobucket.com/albums/j5...ier/india1.jpg
I have seen the enemy, and it is me.
  • #95,966
  • Jun 3, 2011 6:32am Jun 3, 2011 6:32am
Quoting Jey
Enjoy your ride bro, you should be doing this as below to gain maximum enjoyment;
http://i77.photobucket.com/albums/j5...ier/india5.jpg

http://i77.photobucket.com/albums/j5...ier/india4.jpg

http://i77.photobucket.com/albums/j5...ier/india3.jpg

http://i77.photobucket.com/albums/j5...ier/india1.jpg
lol

sick
Hero calls followed by margin calls...
  • #95,967
  • Jun 3, 2011 6:36am Jun 3, 2011 6:36am
Quoting Jey
Enjoy your ride bro, you should be doing this as below to gain maximum enjoyment;
COOL!
i'd love to try that... although im not sure if i'll enjoy the speed of the ride

hey Avanish, have u tried such a ride?
hope u invite me to do that once i get to visit india. (how about in Pakistan, nasir, ghous?)
  • #95,968
  • Jun 3, 2011 6:39am Jun 3, 2011 6:39am
Quoting supremeChaos
i havent traded outside FX, & i dont know the overall behavior of Gold, so i cant help much in that regard.

having said that, Gold looks overall bullish on daily.
i agree with jon (g_j) above... my concern is 1500-1520 might not be far enough from your entry (are u quick enough to react/take profits?). this area might give u a problem.
in case price moves with momentum...., possible trouble areas below 1500 are 1480, 1450, 1430 areas.
jon also mentioned it's US NFP later today

so overall, i'd be comfortable looking for/trading other setups....
thanks SC, i will keep my eye open look for better setups
seeing through
  • #95,969
  • Jun 3, 2011 6:42am Jun 3, 2011 6:42am
Quoting g_j_hook@yah
hey pipphunter, im not SC but i dont think this is something he would take.
my chart looks very different due to closing times of the bars and mine is looking more bullish than bearish. that big bearish candle and the first ib on your chart is just a spike on mine thrusting below some recently broken resistence that has now become support. To me the fact that price didnt last long under this level shows the bullish sentiment.
on my chart price is currently forming BUOB after retesting this level so i would personally be more bullish right now....
Thank Jon for the very detail respond. yes, patience and being picky for the setup will pay off.
seeing through
  • #95,970
  • Jun 3, 2011 6:45am Jun 3, 2011 6:45am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting supremeChaos
COOL!
i'd love to try that... although im not sure if i'll enjoy the speed of the ride

hey Avanish, have u tried such a ride?
hope u invite me to do that once i get to visit india. (how about in Pakistan, nasir, ghous?)
To increase the speed of the ride, you need to get the guys hanging on the rear side to hold hand fans which can help propel abit faster.
I have seen the enemy, and it is me.
  • #95,971
  • Jun 3, 2011 6:57am Jun 3, 2011 6:57am


WOW!!!!!

thats some train ride!!!

cooool
PATIENCE... DISCIPLINE
  • #95,972
  • Jun 3, 2011 7:02am Jun 3, 2011 7:02am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Anyone can spot Ghous riding on the 2nd train?
I have seen the enemy, and it is me.
  • #95,973
  • Jun 3, 2011 7:06am Jun 3, 2011 7:06am
Quoting Jey
Anyone can spot Ghous riding on the 2nd train?
lol...

knowing ghous he'l be driving it!!
PATIENCE... DISCIPLINE
  • #95,974
  • Jun 3, 2011 7:08am Jun 3, 2011 7:08am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting g_j_hook@yah
lol...

knowing ghous he'l be driving it!!
... while also trading with the other hand
I have seen the enemy, and it is me.
  • #95,975
  • Jun 3, 2011 7:13am Jun 3, 2011 7:13am
Quoting Jey
... while also trading with the other hand
He's probably the guy with the yellow skirt stuck on the front of the locomotive
Looks like he boarded the train on the run (fast run).
Follow my trading on Twitter and FB: @pumlitch
  • #95,976
  • Jun 3, 2011 7:19am Jun 3, 2011 7:19am
Quoting supremeChaos
COOL!
i'd love to try that... although im not sure if i'll enjoy the speed of the ride

hey Avanish, have u tried such a ride?
hope u invite me to do that once i get to visit india. (how about in Pakistan, nasir, ghous?)
Hey SC..
i mostly try to go by such trains..these are Metro Rails..Mono Rails will be coming soon..

http://m3chennai.com/wp-content/uplo...elhi-Metro.jpg

http://www.imageurlhost.com/images/f...rw2cxyggok.jpg
  • #95,977
  • Jun 3, 2011 7:52am Jun 3, 2011 7:52am
And Avanish has always good company too.....
Attached Image
  • #95,978
  • Jun 3, 2011 8:02am Jun 3, 2011 8:02am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
You mean he brings alot of models' pics when he travels?
I have seen the enemy, and it is me.
  • #95,979
  • Jun 3, 2011 8:05am Jun 3, 2011 8:05am
Quoting Panthera
And Avanish has always good company too.....
Quoting Jey
You mean he brings alot of models' pics when he travels?
hey Jey,since u have Salman Khan pic on ur profile..i think Katrina Kaif suits u better..lol lol
  • #95,980
  • Jun 3, 2011 8:06am Jun 3, 2011 8:06am
Quoting Panthera
And Avanish has always good company too.....

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