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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

  • #126,381
  • Jun 24, 2013 6:43am Jun 24, 2013 6:43am
Quoting albchr
{quote} lol...I stop in almost everyday. But I will not pretend to be anywhere good enough to "add" to the teachings here. Perhaps one day.
hem.. I'd doubt that...
From what I've read of your posts here and there...
Plus it's always good to hear about old timers' views and thought process
Slow & steady
  • #126,382
  • Jun 24, 2013 6:46am Jun 24, 2013 6:46am
Quoting patapouer
{quote} hem.. I'd doubt that... From what I've read of your posts here and there... Plus it's always good to hear about old timers' views and thought process
Hey! who you calling an "old" timer? ...

Thanks buddy.
Ghost Rider - WWTBMD?
  • #126,383
  • Jun 24, 2013 7:00am Jun 24, 2013 7:00am
Quoting str8
{quote} How should we play those inside bars? If it's neutral it means it can go up or down. It's good to put 2 pending orders, one short and one long? Or it's good to skip the trade?
i dont play them much, but you dont really play them at all. You want to play the location. its that what is all important with these IB (just as all the trigger bars.)
check out the chart for a simple example. price has returned back to a solid PPZ that is a RN. It is also circa the fib level from the massive down trend earlier. we have strong divergence and probably other factors of confluence aswell to help.? knowing that this is currently acting as resistence and seeing the confluence,we are expecting some reaction when/price gets there. when it does it prints the IB, now if price breaks south from the IB it fairly obvious that the 1.6300 level is still acting as resistance. How does resistance work..?? order stacks. the bias is down. If price breaks above then we can see that 1.6300 is not strong enough to act as resistance anymore and may or may not act as support. but for the time being i personally would be waiting for some confirmation that it is before i would be entering the market. so basically no trade if it brakes north. Basic explanation but you get the idea.
This id just my take on them im sure they are others...

jon
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PATIENCE... DISCIPLINE
  • #126,384
  • Jun 24, 2013 7:04am Jun 24, 2013 7:04am
Quoting albchr
{quote} Hey! who you calling an "old" timer? ... Thanks buddy.

i remember your first few posts when you explained your situation and the reasons (some of them)why you were getting into trading!!how long ago does that seem???I cant remember even if it was this thread now??
yeah get used to it.......ole timer!?

haha

jon
PATIENCE... DISCIPLINE
  • #126,385
  • Jun 24, 2013 7:08am Jun 24, 2013 7:08am
Quoting g_j_hook@yah
{quote} i remember your first few posts when you explained your situation and the reasons (some of them)why you were getting into trading!!how long ago does that seem???I cant remember even if it was this thread now?? yeah get used to it.......ole timer!? haha jon
... ...lol

At least I'm not alone I guess, eh Jon? Good to see you bro.
Ghost Rider - WWTBMD?
  • #126,386
  • Jun 24, 2013 7:11am Jun 24, 2013 7:11am
Quoting albchr
{quote} ... ...lol At least I'm not alone I guess, eh Jon? Good to see you bro.
lol, even feel it these days..
keep posting bro..

jon
PATIENCE... DISCIPLINE
  • #126,387
  • Jun 24, 2013 7:18am Jun 24, 2013 7:18am
Quoting albchr
{quote} Hey! who you calling an "old" timer? ... Thanks buddy.
a young old timer? an old timer younger than old old timers? a not so old old timer? a still young old timer?

damn...
a "one of the wanna be like him" whatever timer?
Slow & steady
  • #126,388
  • Jun 24, 2013 7:27am Jun 24, 2013 7:27am
Quoting g_j_hook@yah
{quote} lol, even feel it these days..
lol...I hear that! I look at time as irrelevant these days.

Though my body may age, my spirit remains that of a child.
Though my body may die, I plan to live forever.
Ghost Rider - WWTBMD?
  • #126,389
  • Jun 24, 2013 7:37am Jun 24, 2013 7:37am
Quoting ghous
{quote} lol. Don't look at me like I have stars on my head, glistening translucent wings and a magic wand in my hand. This is still only my own analysis. If its still unclear, I just wanted to spark a discussion (for the sake of everyone's learning) directed at spotting "the apparently not so obvious" faults with this setup. g. {image} {image}
Hey G. .

Just to add to your reasons why this 4 hour PB lacked a momentum break . . it was sitting on a Strong Daily LCS level. If that 4 Hour PB had a strong Close Below that Daily LCS (and your trend line), we could have had decent move down.

I always view these Higher TF levels on the lower TFs.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #126,390
  • Edited 8:10am Jun 24, 2013 7:50am | Edited 8:10am
Quoting Giovanni V
setup next weekly {image}
Strong level of Resistance, Giovanni. Weekly and Daily HCR level with a Weekly 150 ema confluence.

Notice where the two Daily Highs of the Day hit. .not a coincidence . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #126,391
  • Jun 24, 2013 7:53am Jun 24, 2013 7:53am
Quoting jarroo
{quote} Hey G. . Just to add to your reasons why this 4 hour PB lacked a momentum break . . it was sitting on a Strong Daily LCS level. If that 4 Hour PB had a strong Close Below that Daily LCS (and your trend line), we could have had decent move down. I always view these Higher TF levels on the lower TFs. Jim {image} {image}
Magnificent!

g.
I believe . . .
  • #126,392
  • Jun 24, 2013 7:57am Jun 24, 2013 7:57am
Quoting ghous
{quote} Magnificent! g.
What the heck is a Czech Koruna? . .lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #126,393
  • Jun 24, 2013 8:05am Jun 24, 2013 8:05am
Quoting jarroo
{quote} What the heck is a Czech Koruna? . .lol . .
Slight variation of a very good Mexican beer??
Ghost Rider - WWTBMD?
  • #126,394
  • Jun 24, 2013 8:14am Jun 24, 2013 8:14am
Quoting jarroo
{quote} What the heck is a Czech Koruna? . .lol . .
Give us a market for door hinges and we'll trade it.

g.
I believe . . .
  • #126,395
  • Jun 24, 2013 8:24am Jun 24, 2013 8:24am
Quoting ghous
{quote} Give us a market for door hinges and we'll trade it. g.
LOL...as an "old" carpenter, I'd say BUY! Cost of materials has been on a steady 4 year rise in the US.
Ghost Rider - WWTBMD?
  • #126,396
  • Jun 24, 2013 8:31am Jun 24, 2013 8:31am
Quoting albchr
{quote} LOL...as an "old" carpenter, I'd say BUY! Cost of materials has been on a steady 4 year rise in the US.
I am not a big fan of buying high. Will wait for pull back on the USD/HNG and with enough confluence unload 200 standard lots

g.
I believe . . .
  • #126,397
  • Jun 24, 2013 8:35am Jun 24, 2013 8:35am
Quoting ghous
{quote} I am not a big fan of buying high. Will wait for pull back on the USD/HNG and with enough confluence unload 200 standard lots g.
... the way things are going here, that could be a very long wait.

USD/HNG is almost surpassing silver now.
Ghost Rider - WWTBMD?
  • #126,398
  • Jun 24, 2013 8:35am Jun 24, 2013 8:35am
Quoting g_j_hook@yah
{quote} i dont play them much, but you dont really play them at all. You want to play the location. its that what is all important with these IB (just as all the trigger bars.) check out the chart for a simple example. price has returned back to a solid PPZ that is a RN. It is also circa the fib level from the massive down trend earlier. we have strong divergence and probably other factors of confluence aswell to help.? knowing that this is currently acting as resistence and seeing the confluence,we are expecting some reaction when/price gets there....
In the GBP USD example it's good to enter the trade at the break of the IB or at the break of the mother bar?

Let's say price breaks and closes above 1.6300 and the next bar is an inside bar with close above 1.6300. Would you enter in the market with a buy?
  • #126,399
  • Jun 24, 2013 8:45am Jun 24, 2013 8:45am
Quoting str8
{quote} In the GBP USD example it's good to enter the trade at the break of the IB or at the break of the mother bar? Let's say price breaks and closes above 1.6300 and the next bar is an inside bar with close above 1.6300. Would you enter in the market with a buy?
hey str8, Technically it says to trade the break of the IB but probably as many would wait for the break of the mother bar?? Its a personal thing youlle need to research.

jon
PATIENCE... DISCIPLINE
  • #126,400
  • Jun 24, 2013 8:46am Jun 24, 2013 8:46am
Quoting ghous
{quote} I am not a big fan of buying high. Will wait for pull back on the USD/HNG and with enough confluence unload 200 standard lots g.
so thats what swing trading is all about!!



jon
PATIENCE... DISCIPLINE
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