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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

  • #122,821
  • Jan 26, 2013 6:15am Jan 26, 2013 6:15am
Quoting ghous
Its not a regular pin bar but it is still in the scope of the advanced James16 material. Its a pin bar by proxy but I totally agree with you Steve in that its not a great setup at all running straight into parity.

g.

Yeah, I hear you and realize it can be a PB by proxy, however I was just trying to point out that the location is of equal importance as the PA itself and thus how useless the PB dashboard indicator is. You know, Ping, Ping "PB on blah blah blah". You spend more time looking at rubbish than not using the indicator. I know, I used to use one. LOL
  • #122,822
  • Jan 26, 2013 6:18am Jan 26, 2013 6:18am
Quoting CryAgony
Hey Steve,

Sticking to USDCAD, what do you think of the level noted on the chart? It's a confluence of HCR and 50% retr. of the last big swing, broken aggressively on Friday.
Could it play as support (or eventually retrace till 1.0000 BRN) in order to continue the bullish move ?

Many thx!

Yes, indeed.
So the question of if the PB breaks really is academic as, it first has to get below that SH.

Also, note the consolidation at that area on the weekly TF.


Good Job there.
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  • #122,823
  • Jan 26, 2013 6:29am Jan 26, 2013 6:29am
Quoting Pinbar
Yeah, I hear you and realize it can be a PB by proxy, however I was just trying to point out that the location is of equal importance as the PA itself and thus how useless the PB dashboard indicator is. You know, Ping, Ping "PB on blah blah blah". You spend more time looking at rubbish than not using the indicator. I know, I used to use one. LOL

Well, in my opinnion its the lcoation which makes this a good setup since the level at 1.00562 has acted as resistance many times before and the bar has closed exactly beneath it.

I know there are way better setups but i think fading a small position is not completely devious.
  • #122,824
  • Jan 26, 2013 6:41am Jan 26, 2013 6:41am
Quoting daveone
Well, in my opinnion its the lcoation which makes this a good setup since the level at 1.00562 has acted as resistance many times before and the bar has closed exactly beneath it.

I know there are way better setups but i think fading a small position is not completely devious.
I fade swing points all the time but have serious reservations where a trade is running straight into a big round number.

1.00 is a seriously watched-out-for price level and such a swift bullish move straight through it is not good news for bears. Of course we might look for a pull back to it, in which case a risky trade could be squeezed in but knowing the difference between this and your other trades is important.



g.
I believe . . .
  • #122,825
  • Jan 26, 2013 7:49am Jan 26, 2013 7:49am
Quoting ghous
I fade swing points all the time but have serious reservations where a trade is running straight into a big round number.

1.00 is a seriously watched-out-for price level and such a swift bullish move straight through it is not good news for bears. Of course we might look for a pull back to it, in which case a risky trade could be squeezed in but knowing the difference between this and your other trades is important.



g.
this one resembles what I call the wick play. You actually buy into that wick on the usd/cad with such a weak close above a swing and BRN. Often price will get up to the wick high again before sellers come back in

Mike
  • #122,826
  • Jan 26, 2013 11:53am Jan 26, 2013 11:53am
USDPLN, undisputable....
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  • #122,827
  • Jan 26, 2013 12:52pm Jan 26, 2013 12:52pm
Quoting Microtrader_
USDPLN, undisputable....
I like this chart. I didnt have this one on my radar. Thanks MT. Nice box on the daily. A Daily PPZ was formed and then bearish PA was the confirmation for a recent strong move down. What I really like about this is the support at the bottom of this box. I think its a really important area. If you havent already, check the weekly chart out. I think we are heading into a major weekly support(daily and weekly LCS too). Would be nice to see a PBT&CB.

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Rolo
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,828
  • Jan 26, 2013 11:12pm Jan 26, 2013 11:12pm
Quoting mbqb11
this one resembles what I call the wick play. You actually buy into that wick on the usd/cad with such a weak close above a swing and BRN. Often price will get up to the wick high again before sellers come back in

Mike
Yup the 1.00 could well serve the launch pad for your wick to be filled Mike!

g.
I believe . . .
  • #122,829
  • Jan 27, 2013 6:18am Jan 27, 2013 6:18am
hi guys what do you think of this bar
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my name is tom and i like crayons
  • #122,830
  • Jan 27, 2013 6:28am Jan 27, 2013 6:28am
I notice that a lot of people are using MA's as a source for confluence, but was wondering about the best values for this; many seem to be using 150 MA's, but I saw that in an earlier post suggested that James used 21, 79 and 365 SMA's along with an 89 EMA.

Has the thread adapted to believe the 150 SMA is best, or is it simply down to personal preference?

Thanks, Dave
  • #122,831
  • Jan 27, 2013 6:48am Jan 27, 2013 6:48am
Quoting drod
I notice that a lot of people are using MA's as a source for confluence, but was wondering about the best values for this; many seem to be using 150 MA's, but I saw that in an earlier post suggested that James used 21, 79 and 365 SMA's along with an 89 EMA.

Has the thread adapted to believe the 150 SMA is best, or is it simply down to personal preference?

Thanks, Dave
I personally use 10 and 20 ema for short term mean value and 150,365 ema for long term

There isn't a best ema, after all you must be confident with the tools you are using. It's not even mandatory to use ema's at all
150 and 365 are the most common tho

Hope it helps
  • #122,832
  • Jan 27, 2013 6:51am Jan 27, 2013 6:51am
Quoting tc640
hi guys what do you think of this bar
IMO wait for the next bar. Look in for 4hr TF and determine the price action and then enter. I think it's testing the previous support. So i will wait the next bar to reconfirm it
  • #122,833
  • Jan 27, 2013 6:53am Jan 27, 2013 6:53am
Quoting drod
I notice that a lot of people are using MA's as a source for confluence, but was wondering about the best values for this; many seem to be using 150 MA's, but I saw that in an earlier post suggested that James used 21, 79 and 365 SMA's along with an 89 EMA.

Has the thread adapted to believe the 150 SMA is best, or is it simply down to personal preference?

Thanks, Dave
Hey Dave,

Its still a matter of personal preference and the MA value that you feel works for you the most.

Since most here idealize James thoughts' and his ways there is inevitable tilt to using the 150 and the 365 EMA as the big guy uses them too.

For what its worth though there is no hard and fast rule as to the EMAs ppl use in this thread. The important thing to remember is that whatever MAs you use they must only be used as supporting confluence.

Cheers.

g.
I believe . . .
  • #122,834
  • Jan 27, 2013 11:40am Jan 27, 2013 11:40am
Quoting ghous
Hey Dave,

Its still a matter of personal preference and the MA value that you feel works for you the most.

Since most here idealize James thoughts' and his ways there is inevitable tilt to using the 150 and the 365 EMA as the big guy uses them too.

For what its worth though there is no hard and fast rule as to the EMAs ppl use in this thread. The important thing to remember is that whatever MAs you use they must only be used as supporting confluence.
Hi all, Thanks for the info. I'd realized it was personal preference and wanted to make sure I didn't use something that appeared to be ok, but happened to give false signals by matching most things.

Thanks, Dave
  • #122,835
  • Jan 27, 2013 6:38pm Jan 27, 2013 6:38pm
I like the look of this.
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  • #122,836
  • Jan 28, 2013 12:24am Jan 28, 2013 12:24am
Quoting Pinbar
I like the look of this.
Hi Pinbar..this is what I'm looking for !
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Nothing personal,just business
  • #122,837
  • Jan 28, 2013 1:24am Jan 28, 2013 1:24am
Quoting rolo1128
I like this chart. I didnt have this one on my radar. Thanks MT. Nice box on the daily. A Daily PPZ was formed and then bearish PA was the confirmation for a recent strong move down. What I really like about this is the support at the bottom of this box. I think its a really important area. If you havent already, check the weekly chart out. I think we are heading into a major weekly support(daily and weekly LCS too). Would be nice to see a PBT&CB.

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Rolo

Your Welcome.
So far USDPLN has been working according to the expectations.
IMO normally it should not make us any bad surprise.
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  • #122,838
  • Jan 28, 2013 3:35am Jan 28, 2013 3:35am
Quoting Pinbar
I like the look of this.

Hey Pinbar,

I agree with you. Where would you EXACTLY put youR buy limit in this case?
  • #122,839
  • Jan 28, 2013 3:53am Jan 28, 2013 3:53am
Quoting Microtrader_
Hey Pinbar,

I agree with you. Where would you EXACTLY put youR buy limit in this case?

I wouldn't, I would would for lower tf PA to show me, what the real deal is.
  • #122,840
  • Jan 28, 2013 5:39am Jan 28, 2013 5:39am
I jumped into gold short... looking for quick pips.
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all is eternal - this is good news for people who loves bad news
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