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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

  • #96,881
  • Jun 17, 2011 8:51pm Jun 17, 2011 8:51pm
No, this is not the hotel we are staying in. LOL

Just caught my attention as being an interesting old building which is still standing, just like this thread.

I think Black & white photography is much more interesting.

Looks like we are stuck in HK for another week.

How many more GTs can this liver take? LOL
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  • #96,882
  • Jun 17, 2011 9:33pm Jun 17, 2011 9:33pm
The trend for unconditional generosity, altruism and friendship is far from over.

The worm's on steroids Jim!!

g.
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I believe . . .
  • #96,883
  • Jun 18, 2011 2:27am Jun 18, 2011 2:27am
Hope all enjoyed the birthday celebrations! Here is to the next 6 years. Wouldn't mind an equity curve like the one typist posted! By the end of the year will do just fine!

A
:applause

Seriously if I can do that in 5 yrs will be delighted
  • #96,884
  • Jun 18, 2011 3:40am Jun 18, 2011 3:40am
Hi ya Everyone...

oooops! sorry I'm late to the party .... but "HAPPY 6th BIRTHDAY!!!!" ..

I'd like to send a BIG thank you to Jim for starting this thread..you really have opened my eye's to all the nuances of trading and improved my trading enormously!! ..
Also I'd like to say a BIG thank you to all your happy helpers who have tirelessly trudged on to help us newb's, Mike, Jarroo, SC, etc...and the list could go on but you know who you are!, and also another thank you to everyone else for asking questions that I wouldn't have even thought of to improve my knowledge....

"HAPPY 6th BIRTHDAY!!"...thank you for creating this thread James16!!..

Cheers,
Adrian
  • #96,885
  • Jun 18, 2011 5:01am Jun 18, 2011 5:01am
Quoting MuddBuddha
Hey B!
Glad your here!
Yes, I referred to you and SupremeChaos earlier as the "olds"!
.....

but im not that old, Sir
Glad to see everyone un-lurking
  • #96,886
  • Jun 18, 2011 9:41am Jun 18, 2011 9:41am
Happy Birthday all!

A BIG thank you to James 16 and everyone and anyone who has supported and taken part in this awesome forum. You've given me a real clear direction in the world of trading, (all be it still a Newbie). Given all the noise out there, it means hell of a lot to me.

Something new I'm trying out:

These are charts from FreeStockCharts.com, all on the daily. I've highlighted x5 charts of interest just by going through Energy Stocks. I'm not trading these, just watching how they move. It is the first time I've looked outside of forex and Silver/Gold.

1) HEP -Pin Bar with clear FTA and target at 51.90. Did not close above 50.00.
2) MXC - IB's below 8.80 in an overall downtrend.
3) SEP - BUOB at swing low. Could have closed a little higher for my liking.
4) TGA - IB at swing low. Possible continuation to the downside?
5) XEC - Interesting level. First time back and 82.00 BRN

Please feel free to share your thoughts. Can anyone here recommend a broker with a good library of stocks?

Celebrate on people...

Tomek
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  • #96,887
  • Jun 18, 2011 9:46am Jun 18, 2011 9:46am
Hero calls followed by margin calls...
  • #96,888
  • Jun 18, 2011 10:56am Jun 18, 2011 10:56am
Bit late..but HAPPY BIRTHDAY to this BEAUTIFUL THREAD..
i must say,this is best thing i have ever found on internet till now..
dont know the longevity of this thread but it should run more than 100 years..

inspite of all those erroneous,unnecessary criticism from "morons" it still thrived to live up to..DATS THE SPIRIT GUYS!!!!!!!

J16 GUNNERS RULE!!!!
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  • #96,889
  • Jun 18, 2011 11:07am Jun 18, 2011 11:07am
Thanks for giving me the inspiration to keep at it....
I am stunned by the dedication and the extra mile that people on this thread will go to in order to make everyone feel at home and to help each other learn. Just wonderful

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  • #96,890
  • Jun 18, 2011 2:31pm Jun 18, 2011 2:31pm
Quoting 5.25
Happy Birthday all!

A BIG thank you to James 16 and everyone and anyone who has supported and taken part in this awesome forum. You've given me a real clear direction in the world of trading, (all be it still a Newbie). Given all the noise out there, it means hell of a lot to me.

Something new I'm trying out:

These are charts from FreeStockCharts.com, all on the daily. I've highlighted x5 charts of interest just by going through Energy Stocks. I'm not trading these, just watching how they move. It is the first time I've...

Hi Tomek

I traded stocks a lot years ago but after discovering futures and currency didn't really trade stock any more. I did all of this trading on 5m charts.
Nowadays, I only trade daily and 4h with 1h at times.
There are so few trades though that I started getting my toes wet again on stocks with S/R, PA trading so that there may be some more opportunities. I've traded some A++++ setups with some success and have just observed many others to see how S/R, PA works on these random stocks.
I use Interactive Brokers for the stock trades.
Something just came up, gotta run, more later.
We can talk about scanning for stocks.

Thanks for the charts.
  • #96,891
  • Jun 18, 2011 2:39pm Jun 18, 2011 2:39pm
Quoting Kalbar
Guys

A long, long way to go but sometimes its better to travel than arrive! Putting a few good weeks and months together will be the acid test.

kal
Just had to comment on this because I am right there in the same situation with you and couldn't agree more. I find (more so the older that I get ) that I enjoy the journey most of all. There is just nothing better than to be on a path seeking to accomplish something and celebrating milestones along the way. I am loving this journey that I am on with everyone here and hope that it never stops. Looking at it more like a multileg journey than one destination, and everyone here is what makes it all worth while.
  • #96,892
  • Jun 18, 2011 3:11pm Jun 18, 2011 3:11pm
Quoting ghous
The trend for unconditional generosity, altruism and friendship is far from over.

The worm's on steroids Jim!!

g.
This is just truely amazing to see. We will be breaking the 100k resistance point here soon... I have never been that active on this thread (or the PF either) mainly because it is my style to shut up and listen, but I look forward to becoming much more active on this thread. I don't know much, but that which I do will do my best to help with . As always I will be listening to those who know more than I do in an effort to expand my knowlege as well.

Just want to send a sincere thanks out to everyone on this belated Birthday congrats. It is because of all of the insight provided by people like Jim, Mike, Bemac, Jarroo and others (the list is just too big) that I am trading live and more importantly trading live profitably. I am grateful every day for having come into contact with a group of people who are such genuinely great souls.

Thank you and I look forward to the many years yet to come!
Ryan
  • #96,893
  • Jun 18, 2011 6:44pm Jun 18, 2011 6:44pm
THANK YOU ALE,

JIM

Quoting ale555it
Happy Birthday to the Thread!!!

And most of all, thank you Jim!!!

And thank you all people for making this Thread GREAT !!!

  • #96,894
  • Jun 18, 2011 6:47pm Jun 18, 2011 6:47pm
Interesting life you lead my friend,

jim

Quoting pinbar
no, this is not the hotel we are staying in. Lol

just caught my attention as being an interesting old building which is still standing, just like this thread.

I think black & white photography is much more interesting.

Looks like we are stuck in hk for another week.

How many more gts can this liver take? Lol
  • #96,895
  • Jun 18, 2011 6:48pm Jun 18, 2011 6:48pm
LOL.

Your a true friend ghous.

jim

Quoting ghous
The trend for unconditional generosity, altruism and friendship is far from over.

The worm's on steroids Jim!!

g.
  • #96,896
  • Jun 18, 2011 9:15pm Jun 18, 2011 9:15pm
I been following this for about 3 weeks now and learning more then i have in the last 4 years i been doing it

SO THANK YOU MORE THEN YOU COULD EVER IMAGINE J16

Anyway, question I have is about the pivots

I thought these were something you would just draw on the chart by eye.
I thought that swing highs and swing lows reacting of the same price was a pivot but now i am up to page 30 and people are talking about "working out the pivots mathematically" so I am confused????

Which is it? By eye or by mathematical calculation?

Or both? Or are the ones you draw by eye i'm talking about have a different name?
  • #96,897
  • Jun 18, 2011 9:41pm Jun 18, 2011 9:41pm
Quoting Strick
I been following this for about 3 weeks now and learning more then i have in the last 4 years i been doing it

SO THANK YOU MORE THEN YOU COULD EVER IMAGINE J16

Anyway, question I have is about the pivots

I thought these were something you would just draw on the chart by eye.
I thought that swing highs and swing lows reacting of the same price was a pivot but now i am up to page 30 and people are talking about "working out the pivots mathematically" so I am confused????

Which is it? By eye or by mathematical calculation?

Or both?...

Disclaimer: I am new here as well and barely know what I am talking about but from what I understand....

The pivot zones are drawn by hand looking at flips in support and resistance. I think you are looking at the calculations for daily pivots which can be used to add an extra layer of confluence to your trade, just like a fib level. So if you have a pivot zone and a daily pivot line up it increases the probability of the trade. J16 uses the term pivot point zone for support and resistance areas, where price flips back and forth. Other traders use the term pivot point to represent a line based on the average of the high, low and close of a particular time period.

Hope that helps

Jacob
  • #96,898
  • Jun 18, 2011 10:14pm Jun 18, 2011 10:14pm
Quoting J.W. Holmes
Disclaimer: I am new here as well and barely know what I am talking about but from what I understand....

The pivot zones are drawn by hand looking at flips in support and resistance. I think you are looking at the calculations for daily pivots which can be used to add an extra layer of confluence to your trade, just like a fib level. So if you have a pivot zone and a daily pivot line up it increases the probability of the trade. J16 uses the term pivot point zone for support and resistance areas, where price flips back and forth. Other traders...
Cheers mate, it helps alot!

Thats what I was guessing but I really was only guessing as I had no idea so cheers for clearing that up.

Do you know if they only keep the pivot for the previous day or do they keep them on the chart for at least a few days or?...

And do you just look at the weekls and daily pivots ar do we go for monts, 6month, yearly etc..
  • #96,899
  • Jun 18, 2011 10:16pm Jun 18, 2011 10:16pm
Quoting J.W. Holmes
Disclaimer: I am new here as well and barely know what I am talking about but from what I understand....

The pivot zones are drawn by hand looking at flips in support and resistance. I think you are looking at the calculations for daily pivots which can be used to add an extra layer of confluence to your trade, just like a fib level. So if you have a pivot zone and a daily pivot line up it increases the probability of the trade. J16 uses the term pivot point zone for support and resistance areas, where price flips back and forth. Other traders...
Yeah, you are right about the horizontal support and resistance or PPZ levels, where price is flipping from one pole to the other.
However, not many people use conventional pivots with FX, in this thread.
Combining Round Numbers, with PPZ and other confluence factors such as fibos, TLs etc, is the way to go.

Happy trading
  • #96,900
  • Jun 18, 2011 10:18pm Jun 18, 2011 10:18pm
Quoting Strick
Cheers mate, it helps alot!

Thats what I was guessing but I really was only guessing as I had no idea so cheers for clearing that up.

Do you know if they only keep the pivot for the previous day or do they keep them on the chart for at least a few days or?...

And do you just look at the weekls and daily pivots ar do we go for monts, 6month, yearly etc..

Higher TF PPZ like the monthly or weekly can be kept on the chart permanently.
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