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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

  • #98,501
  • Jul 14, 2011 4:25pm Jul 14, 2011 4:25pm
Quoting walk4x
Hey guys how do i properly setup the 150 and 365 ema on my charts

Just go to Insert> Indicators> Trend> Moving Average

It will bring up a box and select all of the parameters that you want to choose.

Jim, the CEO of our pack , sets his to the close of the bar as well.

Oh and welcome to the group partner. We all look forward to seeing you on here!
  • #98,502
  • Jul 14, 2011 4:31pm Jul 14, 2011 4:31pm
would this be a valid pb? the bar before the arrow....bullish trend failed to close above bottom of triangle and bar came up and touched 38.2 on fib

thank you alan

any comments greatly appreciated
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  • #98,503
  • Jul 14, 2011 4:37pm Jul 14, 2011 4:37pm
Quoting almann400
would this be a valid pb? the bar before the arrow....bullish trend failed to close above bottom of triangle and bar came up and touched 38.2 on fib

thank you alan

any comments greatly appreciated

Yes it is a valid pin bar. Don't want to put you on the spot, but before I give any feedback on it- Would you take it? And what would your trade plan be?
  • #98,504
  • Jul 14, 2011 4:48pm Jul 14, 2011 4:48pm
No worries i want to post possible trades to be put on spot and make myself better. Yes i took this trade but i am being cautious with the 365 very close and the weekend coming along. my trade plan was to have a stop above the bottom line of the triangle and hope it took off sometime tonight otherwise deeply consider reasons to hold over weekend . and i was think a nice tp would be in the 1.4 range for quick profit i definetly see extensions lower if the weekly bar closes lower it would trigger a strong bearish trend but if my move doesnt move tonight it could form a possible pb on weekly supporting the bulls which would cause a small loss on my part. i think having such a good month has made me a little more aggressive lately . does that make sense? haha

sl 14225 tp 1.4
  • #98,505
  • Jul 14, 2011 4:52pm Jul 14, 2011 4:52pm
Hey I want to have a moving average on my chart but I do not know how to properly set it up I would like for the moving averages to cross how do I properly set this up
  • #98,506
  • Jul 14, 2011 5:06pm Jul 14, 2011 5:06pm
Quoting almann400
No worries i want to post possible trades to be put on spot and make myself better. Yes i took this trade but i am being cautious with the 365 very close and the weekend coming along. my trade plan was to have a stop above the bottom line of the triangle and hope it took off sometime tonight otherwise deeply consider reasons to hold over weekend . and i was think a nice tp would be in the 1.4 range for quick profit i definetly see extensions lower if the weekly bar closes lower it would trigger a strong bearish trend but if my move doesnt move tonight...

Sounds good. You have a plan and that is the key. Where are you placing your entry? I think the plan is good, and the only thing that I can think of other than what you said in your post is (only a suggestion) moving both the SL and TP up by a few pips.

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Good luck and good trading,
Ryan
  • #98,507
  • Jul 14, 2011 5:06pm Jul 14, 2011 5:06pm
Quoting walk4x
Hey I want to have a moving average on my chart but I do not know how to properly set it up I would like for the moving averages to cross how do I properly set this up
You are going to have to explain this further. Maybe a diagram in paint?
  • #98,508
  • Jul 14, 2011 5:14pm Jul 14, 2011 5:14pm
thank you ....and that is exactly what i was thinking atleast about the sl. so should i place it at the pb bar high or just above? and on the tp how much higher do you suggest moving it? i thought 1.4 was at the the support line? maybe move the tp to 14050? i understand that its only your opinion however i would like to compare mine to others!!
  • #98,509
  • Jul 14, 2011 5:15pm Jul 14, 2011 5:15pm
chart goes with last post
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  • #98,510
  • Jul 14, 2011 5:25pm Jul 14, 2011 5:25pm
Quoting gungriffin
You are going to have to explain this further. Maybe a diagram in paint?

LOL

That cracked me up.



  • #98,511
  • Jul 14, 2011 5:27pm Jul 14, 2011 5:27pm
Quoting almann400
thank you ....and that is exactly what i was thinking atleast about the sl. so should i place it at the pb bar high or just above? and on the tp how much higher do you suggest moving it? i thought 1.4 was at the the support line? maybe move the tp to 14050? i understand that its only your opinion however i would like to compare mine to others!!
Where exactly you want to place your stop depends on you and how agressive you want your trade plan to be... That is something that only you can answer. The proper and traditional J16 was would be above the top of the pin bar by a few pips. That having been said many modify their stops to allow larger positions or to pay for fewer pips (still work the same postion size as above pin so in the event of a loss, the loss would be smaller). Only you can answer with plenty of practice which you prefer. As for the BRN as strong as 1.4 the best way to explain that I can think of is it is like two magnets of the same polarity. It just requires more of a push the closer that they get to each other. At a minimum if I were going to take the 1.4 BRN I would add in the spread. IE a 1.6 pip spread would have my TP at 1.40016 . This is just to help ensure that it will hit. If I think it will break through then I may just keep and eye once it reaches 1.4 with the TP below to start. Then what I do with the TP would would depend on how it reacts at 1.4

Ryan
  • #98,512
  • Jul 14, 2011 5:29pm Jul 14, 2011 5:29pm
Quoting Pinbar
LOL

That cracked me up.



Thank you. Thank you. You all have been a wonderful audience.
  • #98,513
  • Jul 14, 2011 5:31pm Jul 14, 2011 5:31pm
CHART
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  • #98,514
  • Jul 14, 2011 5:34pm Jul 14, 2011 5:34pm
Quoting gungriffin
Where exactly you want to place your stop depends on you and how agressive you want your trade plan to be... That is something that only you can answer. The proper and traditional J16 was would be above the top of the pin bar by a few pips. That having been said many modify their stops to allow larger positions or to pay for fewer pips (still work the same postion size as above pin so in the event of a loss, the loss would be smaller). Only you can answer with plenty of practice which you prefer. As for the BRN as strong as 1.4 the best way to explain...

that was exactly what i was looking for an experianced view upon this trade and i thank you for your response youve answered all my questions and given me things to think about in the future.....hope this one goes well
  • #98,515
  • Jul 14, 2011 5:37pm Jul 14, 2011 5:37pm
CHART
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  • #98,516
  • Jul 14, 2011 5:39pm Jul 14, 2011 5:39pm
Quoting james16
CHART

Learning to LOVE these. They seem to be seriously powerful. Do you tuck your stop just above the BRN Jim?
  • #98,517
  • Jul 14, 2011 5:40pm Jul 14, 2011 5:40pm
Quoting james16
CHART
James do you use simple or exponential?
  • #98,518
  • Jul 14, 2011 5:42pm Jul 14, 2011 5:42pm
Quoting thermobee
James do you use simple or exponential?
My understanding from Mike is that Jim uses a 150 and 365 EMA set to the close. Don't want to put words in Jim's mouth though
  • #98,519
  • Jul 14, 2011 5:43pm Jul 14, 2011 5:43pm
Quoting walk4x
Hey guys how do i properly setup the 150 and 365 ema on my charts
Quoting walk4x
Hey I want to have a moving average on my chart but I do not know how to properly set it up I would like for the moving averages to cross how do I properly set this up
If you're using a MT4 Plat, this pic should help.

Let me know if you need more help . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #98,520
  • Jul 14, 2011 5:49pm Jul 14, 2011 5:49pm
Quoting walk4x
Hey I want to have a moving average on my chart but I do not know how to properly set it up I would like for the moving averages to cross how do I properly set this up

Hey partner, just want to clarify that I was not trying to be a smart butt with my post. We all want to help. I was just confused as to what you were looking to accomplish when I posted my first reply and that did not seem to answer your question. We all try to be very helpful and sometimes I come across a bit brash, but I am working on fixing that.

Thanks for posting,

Ryan
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