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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

  • #98,981
  • Jul 20, 2011 1:41pm Jul 20, 2011 1:41pm
Quoting mbqb11
boring days are good days too, time to do other stuff and step away and not get antsy on these days. Believe me people are trying to squeak pips out of anything that moves, days like this are brutal in my eyes

Best
Mike
Lol that was me a couple of months ago
  • #98,982
  • Jul 20, 2011 1:48pm Jul 20, 2011 1:48pm
@jarroo

i am thinking about this hcr-lcs-stuff.
in the chart below, you only consider the hcr as important.
and don't consider the ppz forming a little lower around the four or five wicks?
correct?
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meine augen sind die sterne
  • #98,983
  • Jul 20, 2011 1:52pm Jul 20, 2011 1:52pm
Quoting thermobee
Lol that was me a couple of months ago


was all of us at some point and majority of people do it

So much less stressful to sit and wait huh?

Mike
  • #98,984
  • Jul 20, 2011 1:52pm Jul 20, 2011 1:52pm
gbp/cad forming a pinbar at major-ppz. this pair is in sideways since about a year. next ppz at around 1.5400. i would wait for the pinbar closing positive.
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meine augen sind die sterne
  • #98,985
  • Jul 20, 2011 2:04pm Jul 20, 2011 2:04pm
mcd formed a diamond. could be better seen on the H1. stock is in a big uptrend and crossing north now. will very likely go higher.
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meine augen sind die sterne
  • #98,986
  • Jul 20, 2011 2:16pm Jul 20, 2011 2:16pm
Quoting james16
A little request for some good vibes and maybe a few prayers.

Im having surgery on thursday. Nothing serious but surgery is surgery.

Ive decided to have a sex change so i can hook up with Bemac. The old fart just turns me on and im gonna do something about it.



seriously though i would appreciate any good vibes i can get headed my way.

Jim, I am sure that you will be fine. I will just keep picturing you coming back to the forums better than ever See if I can't put in a good word with the big man above too.
  • #98,987
  • Jul 20, 2011 2:22pm Jul 20, 2011 2:22pm
Quoting mbqb11


was all of us at some point and majority of people do it

So much less stressful to sit and wait huh?

Mike
Its almost liberating. Its such a good feeling knowing that you dont have to be in a trade all the time and even though Im at work I still feel a lot more relaxed. I think Im finally starting to turn the corner, even when I am in trades I am relaxed and easy going and just make rational decisions on what I see. It doesnt mean Ill always be right, but as long as I am increasing my account I am happy camper
  • #98,988
  • Jul 20, 2011 2:25pm Jul 20, 2011 2:25pm
Hi guys very curious to know what value of RSI should we use here for checking a divergence confluence( i have heard 6 but just wanted to confirm is there any more rules to this divergence ? Do we have an indicator plotting auto divergences?


regards,
Kunal
  • #98,989
  • Jul 20, 2011 2:54pm Jul 20, 2011 2:54pm
Quoting fx trader-
Hi guys very curious to know what value of RSI should we use here for checking a divergence confluence( i have heard 6 but just wanted to confirm is there any more rules to this divergence ? Do we have an indicator plotting auto divergences?


regards,
Kunal
i use RSI period 9. i personally think it give the divergence quicker than any other i tried but is still pretty reliable
And clearer


jon
PATIENCE... DISCIPLINE
  • #98,990
  • Jul 20, 2011 2:59pm Jul 20, 2011 2:59pm
well price is very much respecting this South Channel. this time its also RN 1.3300 so i am planning to go short on brack of this Inside Bar with a tight SL and potentially a huge TP. what you guys think of this???????
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  • #98,991
  • Jul 20, 2011 3:34pm Jul 20, 2011 3:34pm
Quoting aserbfx
gbp/cad forming a pinbar at major-ppz. this pair is in sideways since about a year. next ppz at around 1.5400. i would wait for the pinbar closing positive.
I'm very concerned about these levels!
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Nothing personal,just business
  • #98,992
  • Jul 20, 2011 3:36pm Jul 20, 2011 3:36pm
U/J - beob on a nothing location

GBP/AUD - possible pin but not the best of locations and not much space for trade to move

I am flat for the day.
Trading is a test match not a Twenty20.
  • #98,993
  • Jul 20, 2011 4:14pm Jul 20, 2011 4:14pm
Quoting Khurr@m
well price is very much respecting this South Channel. this time its also RN 1.3300 so i am planning to go short on brack of this Inside Bar with a tight SL and potentially a huge TP. what you guys think of this???????
I like it. I would have played a touch of the .3300 level if I was paying attention when it happened.

Edit: make that .3284, that is where I have the LCS on my chart. I would have taken a touch there. I have taken some pips out of this pair the last couple weeks/months.

Best of luck

Jacob
  • #98,994
  • Jul 20, 2011 5:30pm Jul 20, 2011 5:30pm
Quoting fx trader-
Hi guys very curious to know what value of RSI should we use here for checking a divergence confluence( i have heard 6 but just wanted to confirm is there any more rules to this divergence ? Do we have an indicator plotting auto divergences?


regards,
Kunal
For me, it depends on the Time Frame of the Chart I am attaching it to.
Attached Image


Hope it helps & opens some eyes.



B
  • #98,995
  • Jul 20, 2011 6:48pm Jul 20, 2011 6:48pm
Quoting Bemac
For me, it depends on the Time Frame of the Chart I am attaching it to.
Attachment

Hope it helps & opens some eyes.



B
hi Bemac, i find the 9 period RSI to give a clearer signal than the 12 from 1D down to 15min. can you expand on your reasoning??


jon
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PATIENCE... DISCIPLINE
  • #98,996
  • Jul 20, 2011 7:19pm Jul 20, 2011 7:19pm
Quoting g_j_hook@yah
hi Bemac, i find the 9 period RSI to give a clearer signal than the 12 from 1D down to 15min. can you expand on your reasoning??


jon
Sure. I'm a Tech Trader that Rides all that News Release stuff with thoughts of IF Better then... & If Worse ... Then... But for me... It's a Grid.
It's Math. I don't believe the Big Boys are playing Sentiment. They are playing Building Blocks.
Let me grab that graphic again...
I'll be back
  • #98,997
  • Jul 20, 2011 7:25pm Jul 20, 2011 7:25pm
Quoting fx trader-
Hi guys very curious to know what value of RSI should we use here for checking a divergence confluence( i have heard 6 but just wanted to confirm is there any more rules to this divergence ? Do we have an indicator plotting auto divergences?


regards,
Kunal
Here is a post from Pinbar a couple weeks ago with an RSI divergence indi

http://www.forexfactory.com/showthre...16#post4726516
  • #98,998
  • Jul 20, 2011 7:28pm Jul 20, 2011 7:28pm
I just lit a few incense sticks for you my friend.

You will be out and laughing like this big guy, before you know it.
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  • #98,999
  • Jul 20, 2011 7:44pm Jul 20, 2011 7:44pm
Quoting Pinbar
I just lit a few incense sticks for you my friend.

You will be out and laughing like this big guy, before you know it.
Thanks PB. Huge.
Can I light a wicker & scal it?
You Go Jim.Better is out there.

B
  • #99,000
  • Jul 20, 2011 9:03pm Jul 20, 2011 9:03pm
Quoting fx trader-
Hi guys very curious to know what value of RSI should we use here for checking a divergence confluence( i have heard 6 but just wanted to confirm is there any more rules to this divergence ? Do we have an indicator plotting auto divergences?


regards,
Kunal
In my opinion the number doesn't really matter as long as its fairly small. if its too large it will become too much of a lagging signal.

I also suggest you using multiple RSI, for example use 2 RSI that have the value 13, 21 etc, and when both of your indicators all show divergence. the signal is likely to be more valid, since it has multiple period confirmation

I personally use 13 day RSI, and 21 day percent B bollinger band. when I combine both at the same time, i find the divergence signal i get is usually very accurate, way more than MACD.
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