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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

  • #103,741
  • Oct 29, 2011 4:40pm Oct 29, 2011 4:40pm
Quoting Greenhaze
Cool video. Somehow reminds me of the Inception movie

You need to get some sleep, GH . . lol . .(just kidding)
Indicators show the past. Price Action "Indicates" the future.
  • #103,742
  • Oct 29, 2011 4:41pm Oct 29, 2011 4:41pm
Quoting dropkick-cat
Tinkering around... Is the weekly chart to daily chart transition correct?
No that's not a Daily HCR level of that consolidation, dkc . .try again . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,743
  • Oct 29, 2011 5:05pm Oct 29, 2011 5:05pm
Quoting jarroo
No that's not a Daily HCR level of that consolidation, dkc . .try again . .
Thanks Jarroo, for giving me the retry Did I get it now? The overall picture, at least, looks much better to me now without those protruding bars...
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  • #103,744
  • Oct 29, 2011 5:10pm Oct 29, 2011 5:10pm
Quoting dropkick-cat
Thanks Jarroo, for giving me the retry Did I get it now? The overall picture, at least, looks much better to me now without those protruding bars...

Aahh .. that's better.

Noitice that since Price couldn't Close above the 9.832 on Thursday, Price was still acting as Resistance at this level and went down on Friday. Consolidation areas can be very predictable at times . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,745
  • Oct 29, 2011 5:45pm Oct 29, 2011 5:45pm
Quoting jarroo
Lol . .well I am in the intelligent design camp. . ..isn't survival of the fittest a design? . .I don't know if fibs are part of that . .lol . .maybe.

1630.10?? Do you mean the 1683.0. HCR level ..Yes I can see price returning to test that level that is now Support.
What is it with me these days, typos all over the place

Yes, 1683.10 not 1630.10. It was there on the chart!

Guess I don't fit into that "intelligent by design camp" of yours
  • #103,746
  • Oct 29, 2011 5:55pm Oct 29, 2011 5:55pm
Jarroo, about the gold chart's LCS. I found this here:

Quoting jarroo
Also you can use the Open because we know this is just the prior Day's Close. . .mainly due to Weekend and even Daily gaps. I like using the higher of the two but I look at both.
Does this apply here, just that it's "the lower of the two" (support), not higher (resistance)? So a monday bar's Open, if it gaps, can be used as the friday's Close? This is way over my head

Thank you!
dkc
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  • #103,747
  • Oct 29, 2011 6:12pm Oct 29, 2011 6:12pm
Hey guys, sorry if I appear to be a troll, but is it just me or doesn't the search function on FF threads work anymore?
  • #103,748
  • Edited 3:47am Oct 30, 2011 3:36am | Edited 3:47am
Quoting hunzul
Hey guys, sorry if I appear to be a troll, but is it just me or doesn't the search function on FF threads work anymore?
what exactly did u try to search?
it appears FF made some improvements (profile, & search-related, etc.). i tried the Search tool, it's still working ok on my end.

Quoting mbqb11
I thought it would be a happy weekend too
Then someone brought a blizzard to NYC.......
PLEASE NOT SNOW YET
yeah, i checked online news. it appears this is unseasonable snow.
i hope it's not a precedent to a very cold end-2011 for you guys.
  • #103,749
  • Oct 30, 2011 3:53am Oct 30, 2011 3:53am
Quoting jarroo
Looks good, ydaudw . .and welcome to the thread (officially)

Yes I would look for some bullish PA at that level.

Looks like you missed this one the Weekly. .chart.

Price almost retraced to that weekly HCR level but hit the minor Daily HCR instead . .I know my feed is different than yours ..
Thanks for the warm welcome Jaroo
Our feed is different but I got your point there. I add HCR on Daily, I can see it is not able to breakthrough previous HCR.

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  • #103,750
  • Oct 30, 2011 10:20am Oct 30, 2011 10:20am
Quoting Greenhaze
I wont forget the last winter here in Sweden. It was almost 6 month long and snow was falling day after day making this thick layer of frozen white mass ... I see you've got battlefield 3 which i am planning to buy aswell..... It looks really good and it may be good for those cold snowy evenings.

gh

Good news snow is gone! HAHA

BF3 is flat out awesome. At least the game itself I haven't done multiplayer and i'll be getting COD soon

Hope everyone had a nice weekend!
  • #103,751
  • Oct 30, 2011 11:21am Oct 30, 2011 11:21am
Hi to all traders out there, its a sunday night here and a query just came to my mind.

since this place is pretty much anonymous i was wondering if the successful traders here can share a bit about how profitable they have been on an average month ($10k? $100k?) and having been a successful trader, how has that changed your life? are you guys still working or trading full time?

for me, i do not yet consider myself an accomplished trader and i am still trying to cover my losses (or tuition fees) over the past 2 years before i knew about James16.

i just wanna have a gauge or a general yardstick to have an idea of what my future trading plan holds for me or the newbies here if they be patient and disciplined.
  • #103,752
  • Oct 30, 2011 11:31am Oct 30, 2011 11:31am
Quoting fascist
since this place is pretty much anonymous i was wondering if the successful traders here can share a bit about how profitable they have been on an average month ($10k? $100k?) and having been a successful trader, how has that changed your life? are you guys still working or trading full time?
hola fascist, you should check some posts in this thread a couple of years ago. this question arises time after time again and again, and i think you will never get a definitive answer to it.

to my opinion it's best to concentrate on the quality, not quantity of your trading. and the quantity (in $$) will follow ))

just my $0.02, sorry if no useful info in it. have a nice week!
  • #103,753
  • Oct 30, 2011 11:57am Oct 30, 2011 11:57am
Sorry if this has been posted before, couldn't find it:

USDJPY weekly closed below a ~10-week support. Already did a retest of the lowest weekly close ~76.50, would have been a nice short, but I only saw this today.

How would you guys play this if you still want to enter short? There's a minor 2-day support level with lowest close around 76 that also broke. Enter short on a retrace, with a stop just above?

There's also the problem that no bottom is defined.
  • #103,754
  • Oct 30, 2011 2:12pm Oct 30, 2011 2:12pm
Quoting mbqb11
Good news snow is gone! HAHA

BF3 is flat out awesome. At least the game itself I haven't done multiplayer and i'll be getting COD soon

Hope everyone had a nice weekend!
Been watching a ton of YouTube videos on BF3 and it does look epic to fair. I've been toying with getting either BF3 or Forza 4. Still undecided at the moment.
  • #103,755
  • Oct 30, 2011 4:37pm Oct 30, 2011 4:37pm
"What a bloody mess is this chart", was my first and second (and third and ten minutes later) thought. I almost skipped it, but here it is. What do you guys think?
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  • #103,756
  • Oct 30, 2011 4:38pm Oct 30, 2011 4:38pm
i think clock is forwarded one hour more from now due to Euro Daylight saving time...

Hav good day all!
  • #103,757
  • Oct 30, 2011 8:04pm Oct 30, 2011 8:04pm
Bit thin around here today. You can tell it is the end of the month.

Happy Halloween folks and I hope Mike isn't celebrating Xmas, with all that snow.
  • #103,758
  • Oct 30, 2011 9:53pm Oct 30, 2011 9:53pm
Hi guys,

What other learning resources do you guys use other than J16? Mike feel free to add to some to this, I would like to be a multi-faceted trader : )
  • #103,759
  • Oct 30, 2011 10:50pm Oct 30, 2011 10:50pm
Hi Mike/ Jarroo,
Yen collapsed the last few hrs due to mkt intervention by govt. I know u guys ignore Sunday bars, but in this case where there is a huge move (a few hundred pips) due to govt intervention, will u guys consider the Sunday bar valid?

I attached the weekly USDJPY and EURJPY charts here (well almost weekly as there is abt 20mins more to closing of that bar). Currently its a BUOB. Based on your yrs of experience, for such a big move up, wld u still enter on a break of BUOB or wld entering on a retrace be a safer option? Thks!

Edit: Bet 2 these 2 pairs, I prefer the EURJPY as there appears to be more room for upside move. What are your thoughts?
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  • #103,760
  • Oct 30, 2011 11:14pm Oct 30, 2011 11:14pm
Quote
Hi to all traders out there, its a sunday night here and a query just came to my mind.

since this place is pretty much anonymous i was wondering if the successful traders here can share a bit about how profitable they have been on an average month ($10k? $100k?) and having been a successful trader, how has that changed your life? are you guys still working or trading full time?

for me, i do not yet consider myself an accomplished trader and i am still trying to cover my losses (or tuition fees) over the past 2 years before i knew about James16....

http://en.wikipedia.org/wiki/George_...cy_speculation


Although I don't agree with his world view, here is an example of someone who made a lot of money currency trading.


Best regards

Dale
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