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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

  • #109,201
  • Mar 22, 2012 11:11am Mar 22, 2012 11:11am
Quoting Rust
Maybe you would shed some light on the thought process , if not rude to ask
Apologies for linking to somewhere else, but I must feed the kids and haven't much time. http://www.forexfactory.com/showthre...15#post5497815

Basically, the second chart will show you that looking into the past will show you what will happen in the future. Massive amounts of short orders were left there after such a massive decision on value.

The third chart will show you my thoughts on proving that it was true

Best

If
  • #109,202
  • Mar 22, 2012 12:54pm Mar 22, 2012 12:54pm
Just throwing this out there ...I found another company that does taxes for traders.....

http://www.tradersaccounting.com
"Greed is good,greed is right,greed works"
  • #109,203
  • Mar 22, 2012 1:56pm Mar 22, 2012 1:56pm
Quoting Ifmyante
Apologies for linking to somewhere else, but I must feed the kids and haven't much time. http://www.forexfactory.com/showthre...15#post5497815

Basically, the second chart will show you that looking into the past will show you what will happen in the future. Massive amounts of short orders were left there after such a massive decision on value.

The third chart will show you my thoughts on proving that it was true

Best

If
Interesting , thanks If
  • #109,204
  • Mar 22, 2012 3:16pm Mar 22, 2012 3:16pm
my chart GBP/CHF Pakistan 1:00 Am +5GMT
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  • #109,205
  • Mar 22, 2012 3:29pm Mar 22, 2012 3:29pm
Hi aslam
On GBPCHF the price is stuck in this consolidation/range market and your pin bar pushed the price exactly where we expected.
Take a look to Mike's charts, you will find plenty of this situation and how to read them.
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Nothing personal,just business
  • #109,206
  • Mar 22, 2012 3:31pm Mar 22, 2012 3:31pm
Quoting aslam
my chart GBP/CHF Pakistan 1:00 Am +5GMT
Hey Aslam

Yes the general idea behind a pinbar is that price will go opposite direction. So the direction of the "nose" is lying to us(where the name Pinocchio
bar comes from). Now by itself a bar is just a bar so remember not all bars are created equal. It is the confluence/location/make up of the bar that gives us the true idea together where price should go. In this case the EMAs are flat telling us price is largely sideways. We can also see this by visually looking at our chart(notice no direction price is moving sideways). I also circled why else price was supported along with your EMAs as well as why price went to where it went.

Hope this helps
Mike
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  • #109,207
  • Mar 22, 2012 4:46pm Mar 22, 2012 4:46pm
It seems that the heavy support from a previous potential trade is coming back into play on the EUR/GBP. I believe much is pointing toward long here, but that previous daily, bearish bar has me wondering. Otherwise, this is screaming for a long, or?


http://i42.tinypic.com/b4dk53.png
  • #109,208
  • Mar 22, 2012 4:48pm Mar 22, 2012 4:48pm
Puzzled on this one,
Its a pinbar (I think), off a trendline and a round number, with the 150ema behind. FTA is recent swing high. Pin bar shape is poor, but it is bullish bar.

Will watch this with interest and commit it to memory how it plans out.

Any seniors have a word from the wise?
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  • #109,209
  • Mar 22, 2012 4:52pm Mar 22, 2012 4:52pm
A nice one on gbpnzd, with a BRN and ema to act as resistance. think high probability to return to trend line. FTA is close though.
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  • #109,210
  • Mar 22, 2012 4:58pm Mar 22, 2012 4:58pm
AUDCAD lacking confluence,
Shame, nice bar.
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  • #109,211
  • Mar 22, 2012 5:17pm Mar 22, 2012 5:17pm
Mike
Good evening

What do you think about the LONG gold?

And nzd/chf?

Thank you very much

Sorry for my bad English
  • #109,212
  • Mar 22, 2012 5:23pm Mar 22, 2012 5:23pm
Quoting Yehuda Sh
Mike
Good evening

What do you think about the LONG gold?

And nzd/chf?

Thank you very much

Sorry for my bad English
Hey Yehuda

Godld didn't close as a pinbar on my feed but even if it did it's more just price trickling lower. No strong confluence or signs. Remember we want to bars + location to create our story

Nzd/chf is a tiny pinbar after we just broke out VERY strong to the downside. So we would be trading back up into that and this potential head and shoulders pattern. I prefer looking to short back down at an area like this

Hope that helps
Mike
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  • #109,213
  • Mar 22, 2012 5:32pm Mar 22, 2012 5:32pm
Any updates on the upcoming Guest Materials Mike?
  • #109,214
  • Mar 22, 2012 5:34pm Mar 22, 2012 5:34pm
Mike
Good evening

Thank you for the fast reply

DBHLC pair EUR/CAD

What's your opinion?


Sorry for my bad English
  • #109,215
  • Mar 22, 2012 5:39pm Mar 22, 2012 5:39pm
Quoting Yehuda Sh
Mike
Good evening

Thank you for the fast reply

DBHLC pair EUR/CAD

What's your opinion?


Sorry for my bad English
Hey Yehuda

This would be up at a swing high point, remember we want to find them at swing lows when learning.

No need to keep apologizing for your English it is great

Best
Mike
  • #109,216
  • Mar 22, 2012 5:40pm Mar 22, 2012 5:40pm
Quoting biDc
Any updates on the upcoming Guest Materials Mike?
wheels are a spinning

James is working hard to improve things for everyone members and non members alike. The guy is a champion


Best
Mike
  • #109,217
  • Mar 22, 2012 5:47pm Mar 22, 2012 5:47pm
Quoting mbqb11
wheels are a spinning

James is working hard to improve things for everyone members and non members alike. The guy is a champion


Best
Mike
Amen to that!
  • #109,218
  • Edited 7:38pm Mar 22, 2012 7:22pm | Edited 7:38pm
Quoting jarroo
Here we are again, Pinbar . .


Daily / Weekly Bearish PA would be nice.

or

We could flip back to Support . .


Jim

This is interesting Jim.
Looking at this with the base system and using the 60 Ema as J16 actually uses as opposed to the 50 which Patrick is using.
This could be curve fitting but, it appears that price actually broke above parity and the 60 EMA acting as confluence with the 1.00078, pushed price down after it got charged by breaking both the 365 & 150.

Your thoughts on this are appreciated.
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  • #109,219
  • Mar 22, 2012 8:21pm Mar 22, 2012 8:21pm
Quoting Pinbar
This is interesting Jim.
Looking at this with the base system and using the 60 Ema as J16 actually uses as opposed to the 50 which Patrick is using.
This could be curve fitting but, it appears that price actually broke above parity and the 60 EMA acting as confluence with the 1.00078, pushed price down after it got charged by breaking both the 365 & 150.

Your thoughts on this are appreciated.

I understand the base method but I like to use it when its confluenced with S/R levels. . .maybe that's what your saying??

All I'm saying is that this a great Monthly level for not only being at parity (1.0000) but also in the structural aspects of Support and Resistance . .in this case, HCR/LCS levels. .

Price doesn't like to hang around here for very long .. as you can see historically ..

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #109,220
  • Mar 22, 2012 8:36pm Mar 22, 2012 8:36pm
Quoting jarroo
I understand the base method but I like to use it when its confluenced with S/R levels. . .maybe that's what your saying??

All I'm saying is that this a great Monthly level for not only being at parity (1.0000) but also in the structural aspects of Support and Resistance . .in this case, HCR/LCS levels. .

Price doesn't like to hang around here for very long .. as you can see historically ..

Jim

Yes, that is exactly what I am saying.
The HCR & LCS combined with the base system, is what I am looking into.
Not trying to get the perfect system because, I know there is no perfect system and any system will also have failures. The same way that, nobody can tell 100% before hand, if a certain PPZ will hold or get violated, that is why we use PA to show us which way price wants to go.
Just trying to work out if the base will or will not, show us another reasonably reliable confluence factor.

Thanks for your thoughts Jim.

PS: Like the GU trade I am still holding after taking most off the table.
More than likely, I am going to get stopped out here but, I am trying to see if this small TF swing point that has confluence with the 25, is going to hold or not.
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