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Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
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james16 Chart Thread

Quoting biDc
AUD/JPY

Pinbar is not that great of a size but I like the location. Closed above 74
My 2 cents.
Technically PB. But neither close is strong and/or wic is bigger in relation to big bearish bars.
Quoting NICK theF1SH
Hi, guys anyone watching Gold and would you consider shorting if it closes on a DBHLC on the monthly time frame.

Thanks
I would like it if the monthly BEOB closed strongly under 1500.. 1500 to 1550 area could act as a support.
  • #102,183
  • Quote
  • Edited 7:02pm Sep 24, 2011 6:10pm | Edited 7:02pm
Did anyone notice that USDCAD is back above Parity?

OPPORTUNITYISNOWHERE.

Watch List:
USDCHF for Short:
USDJPYFor continuation to 63.00:
EURCHF for cont. Up to 1.2623 before Drop:
EURGBP Blender. Aside:
GOLD 1,682 as hinge:
SILVER Could be a bounce to 35.10 or continuation to 27.20:
AUDUSD Up to 1.037 OR down to 0.9325:
EURAUD Down to 1.2560:
GBPCAD Up to 1.6100 IF it breaks back into the Channel:

USDCAD Challenge 1.045 & Re-Drop to 1.005 before stability.

B
Nothing on my charts but these pairs and trying to work out the logical reasons for them, Don't have much time time right now as I have to go to work but, I was wondering if the USD/JPY pair has a typo. I mean, did you really mean continuation to 63?



Quoting Bemac
Did anyone notice that USDCAD is back above Parity?

OPPORTUNITYISNOWHERE.

Watch List:
USDCHF for Short:
USDJPYFor continuation to 63.00:
EURCHF for cont. Up to 1.2623 before Drop:
EURGBP Blender. Aside:
GOLD 1,682 as hinge:
SILVER Could be a bounce to 35.10 or continuation to 27.20:
AUDUSD Up to 1.037 OR down to 0.9325:
EURAUD Down to 1.2560:
GBPCAD Up to 1.6100 IF it breaks back into the Channel:

USDCAD Challenge 1.045 & Re-Drop to 1.005 before...
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Quoting Pinbar
... I was wondering if the USD/JPY pair has a typo. I mean, did you really mean continuation to 63?
Well no... Now that you called me on it...
I'm actually looking At 62.89.
Confirm...
Yep. 62.898 as a matter of fact.
If I am wrong... then
86.935 will be Resistance.


PB. This disconect from Account Value to Smart Trade is a Learned Skill.
A tough one to learn but it is a Learned trait that can be taught.
You know what I mean.
PM me the Pairs you follow.

B
Quoting Bemac
Well no... Now that you called me on it...
I'm actually looking At 62.89.
Confirm...
Yep. 62.898 as a matter of fact.
If I am wrong... then
86.935 will be Resistance.


PB. This disconect from Account Value to Smart Trade is a Learned Skill.
A tough one to learn but it is a Learned trait that can be taught.
You know what I mean.
PM me the Pairs you follow.

B
Thanks B

As I was reading the "Now that you called me on it", I was thinking my eyes were going to see the digits 73. They did not fall upon that number. LOL

Right now, these are the only pairs, I am looking at & following.
Quoting Pinbar
Nothing on my charts but these pairs and trying to work out the logical reasons for them, Don't have much time time right now as I have to go to work but, I was wondering if the USD/JPY pair has a typo. I mean, did you really mean continuation to 63?
First:
I know that a 12 26 & 9 MACD Makes some sense if you don't understand what they measure but I would bet London to an Orange you have never considered shifting that ratio.
Same goes for All Oscillators. Stohs included. RSI too.
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Have you actually ever researched what Info they are providing?

ps. to the Readers. Don't start with the Lagging Indi Sh.tuff. I cannot educate those unwilling.

North a bit more 1.044xx & then the turn (return) to
1.000
B
Quoting Bemac
First:
I know that a 12 26 & 9 MACD Makes some sense if you don't understand what they measure but I would bet London to an Orange you have never considered shifting that ratio.
Same goes for All Oscillators. Stohs included. RSI too.
Attachment

Have you actually ever researched what Info they are providing?

ps. to the Readers. Don't start with the Lagging Indi Sh.tuff. I cannot educate those unwilling.

North a bit more 1.044xx & then the turn (return) to
1.000
B

Bemac

I understand that MACD measures the difference in the EMAs based on how many days it is set for, no more than that.

I have experimented with other setting on the RSI not the MACD, for the simple reason that someone once told me that 12, 26, 9 is the best setting as most people will be looking at those settings & we want to move with the crowd, not against it.

Got to go to work, will eagerly follow this when I get back.

I have the feeling this, could turn into an epic.
Quoting Pinbar
Bemac

I understand that MACD measures the difference in the EMAs based on how many days it is set for, no more than that.

I have experimented with other setting on the RSI not the MACD, for the simple reason that someone once told me that 12, 26, 9 is the best setting as most people will be looking at those settings & we want to move with the crowd, not against it.
let's just look at Daily.
12 Makes sense. 12 Bars on Daily = 2 Weeks of Measure.
26 bars on Daily = what?
9 Bars of the Avg. result on Daily = what?

If you haven't noticed yet... My MACD, Stoh & RSI vary from TF to TF.
Just another little arrow I carry.


Most "People" lose!
B
Quoting Pinbar
Bemac...
Well look at you... 10+. That means something. ... Relax. It's about being You.

B
Quoting Pinbar
Bemac

I understand that MACD measures the difference in the EMAs based on how many days it is set for, no more than that.

I have experimented with other setting on the RSI not the MACD, for the simple reason that someone once told me that 12, 26, 9 is the best setting as most people will be looking at those settings & we want to move with the crowd, not against it.

Got to go to work, will eagerly follow this when I get back.

I have the feeling this, could turn into an epic.
Not sure who is credited with the Original MACD but I do beg to offer an opinion.
Why; If i am looking at a 1Hr Chart should I be remotely interested in an EMA of the last 12 Bars as compared to the last
26 bars.
And then Trade based on a 9 bar average the above?
No. I think it has merit but is most often missused.

Think. Can you do that?
Think your way to success.

B
Quoting ghous
Just like regular pin bars don't expect IPBs to be reversing trends all the time.

The mosrt conservative way to play these (and they way I play them) is to take full profit before the bar low (in case of a bearish IPB) is hit. Notice that in this case we are not damaging the over all story by taking a short term trade to the short side. This is similar to what you do with an A+ bearish pin bar against a decent uptrend. You still go for it but you know that expecting 500 pips out of it is not the right thing to do.

Again that doesn't go on to...
Hi ghous,tks for the answer,but I think is a misunderstanding!
My post was only an interpretation for another perspective of the price within the range market and how the old consolidation's resistence acted as support with the dblhc,and non an interpretation of the last candle as an IPB.
Nothing personal,just business
Quoting sakrani
Waiting for this pair to close above 3500 as confluence of BRN with Fib and TL looks good.
I think you're drawing the trendline wrong - don't connect a point from the chart with your current bar, with nothing between them. You can always draw a trendline like that(there's always a line between two points).

you need at least two previous closes to define a trendline. Not a previous close and the current one - that holds no significance, you'll always be able to draw a line between them.
Quoting stochman
Interesting but, on my broker feed, it looks completely different on the daily, neither of the last two bars appear to be pinbars.

It looks a little better on my 240 minute chart but there's horrible looking traffic congestion to the left with an FTA around about 30 pips away from current price, also on my 240 chart there is a much nicer looking bullish pin that precedes the other two, unfortunately it was almost at a mini high, for me I would have liked to have seen it close a little lower down just above the PPZ that I have marked up with...
Man, it's quite frightening to know that broker feeds are so diverse, even on the daily!
Quoting fluiDynamic
Man, it's quite frightening to know that broker feeds are so diverse, even on the daily!
Could it be due to different opening/closing times of daily bars?
opening and closing times sure make dramatic differences, but what is more worrying is the H/L values.
Quoting mbqb11
watching
Thanks go to Mike and Bemac for the heads up
Quoting Bemac
let's just look at Daily.
12 Makes sense. 12 Bars on Daily = 2 Weeks of Measure.
26 bars on Daily = what?
9 Bars of the Avg. result on Daily = what?

If you haven't noticed yet... My MACD, Stoh & RSI vary from TF to TF.
Just another little arrow I carry.


Most "People" lose!
B
Hmm, it seems that 1 bar=1.2days therefore, 26 should = 31.2 days.

My head is spinning already without working out the average of 9 bars.

Calculated before my first Harbin beer after a hard days work.

Much better than Tsing Tao, by the way.
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  • #102,199
  • Quote
  • Edited 9:50am Sep 25, 2011 9:21am | Edited 9:50am
Just a little bit about the MACD in case any other newbies like myself are interested.

Developed by Gerald Appel in the late seventies, Moving Average Convergence-Divergence (MACD) is one of the simplest and most effective momentum indicators available. MACD turns two trend-following indicators, moving averages, into a momentum oscillator by subtracting the longer moving average from the shorter moving average. As a result, MACD offers the best of both worlds: trend following and momentum. MACD fluctuates above and below the zero line as the moving averages converge, cross and diverge. Traders can look for signal line crossovers, centerline crossovers and divergences to generate signals. Because MACD is unbounded, it is not particularly useful for identifying overbought and oversold levels.


Here is the link to the much more detailed explanation
http://stockcharts.com/school/doku.p..._average_conve

Actually, I have a question for Bmac.

That being that while I was working out the MACD calculations which may or may not be incorrect, I noticed you are using the stochastic and RSI and wonder why you prefer them to the MACD?

PS: Thank you to Jarroo & Bemac for the vouch.

Now, I will have to earn them.
Just want to say that I started looking at this thread and it looks really promising. I go back to read...
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