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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

  • #1,181
  • Oct 23, 2006 5:50am Oct 23, 2006 5:50am
Quoting jarroo

See you next month at the PF where I will be rejoining.
I don't blame you jaroo. I was there for a couple of months earlier in the year and hope to join again soon. I know this is paradoxical but I need to be making more money to join the PF.

See you there soon I hope.

Neil.
  • #1,182
  • Oct 23, 2006 9:20am Oct 23, 2006 9:20am
Quoting makron
Hi, guys!
Look at my beautiful position, that was opend by James price action.
Uuuuhh =)
Also catch that move. I’m new to price analysis, but according my logic that was:

<o> </o>1. 1.8541 is the level of great importance (some time ago it was support, resistance and now again support)
2. Fib retracement 61,8%
3. Monthly pivot point support 1
4. Bullish engulfing pattern
5. 2006.10.11 inverted hammer

Have I missed something?
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  • #1,183
  • Oct 23, 2006 11:52am Oct 23, 2006 11:52am
Quoting vasyuta
Also catch that move. I’m new to price analysis, but according my logic that was:

<?xml:namespace prefix = o /><o></o>1. 1.8541 is the level of great importance (some time ago it was support, resistance and now again support)
2. Fib retracement 61,8%
3. Monthly pivot point support 1
4. Bullish engulfing pattern
5. 2006.10.11 inverted hammer

Have I missed something?
The break of the the Double Top is what was standing out (screaming out) to me.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #1,184
  • Oct 23, 2006 2:27pm Oct 23, 2006 2:27pm
Quoting jarroo
The break of the the Double Top is what was standing out (screaming out) to me.

Jim
Yeah, but DBH break was on the level 1.8737. And I entered at 1.8620 (that was 16.10), that bar confirmed what I listed above. May be that was too early, but a lot of things were telling me that prices will go long. Also on my chart after the DBH is going DBLHC, break of DBH was one more proof that bulls were strong.

Alex
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  • #1,185
  • Oct 24, 2006 12:57am Oct 24, 2006 12:57am
James, you are great. I have been a while in this forum, reading several good threads and come to know you when other members mentioned about how good your price action is. I only had a chance to go thru this thread several days ago and i am glad, finally i did complete it from 1st page to 81th page. What a relieve :-)

I have been trading with price action too, combine with candle stick and support resistance things. By reading ur thread, it broaden my knowleadge to have a depth understanding. As you make it easier for other people especially newbies to understand it. I think I have to go thru ur price action chart one more time before apply it for demo or real.

Keep up the good work, Jim!
  • #1,186
  • Oct 24, 2006 1:45am Oct 24, 2006 1:45am
thank you sir,

glad you are getting something out of it. never forget there is no system that will not fail miserably at some point but price action analysis is different. it can be stated simply as a method. a method is always more simple and always more reliable. combine a method with a system that is practical and robust and your onto something.
Quoting turin0107
James, you are great. I have been a while in this forum, reading several good threads and come to know you when other members mentioned about how good your price action is. I only had a chance to go thru this thread several days ago and i am glad, finally i did complete it from 1st page to 81th page. What a relieve :-)

I have been trading with price action too, combine with candle stick and support resistance things. By reading ur thread, it broaden my knowleadge to have a depth understanding. As you make it easier for other people especially newbies to understand it. I think I have to go thru ur price action chart one more time before apply it for demo or real.

Keep up the good work, Jim!
  • #1,187
  • Oct 24, 2006 11:51am Oct 24, 2006 11:51am
Hello james,


Many thanks for the above post which I find helpful. If I may quote you , you mentioned that:-


"price action analysis is different. it can be stated simply as a method. a method is always more simple and always more reliable. combine a method with a system that is practical and robust and your onto something. "


I agree with the point about price action. Price is "King" in terms of trading. You also mentioned above about combining price action method with a practical system. Please can you mention the name of a system that you use in conjunction with the james16 price action method or perhaps mention the name of a system that appears to work in conjunction with the james16 price action method. Many thanks in advance.



regards,

volvo
  • #1,188
  • Oct 24, 2006 11:57am Oct 24, 2006 11:57am
volvo, did u try vegas method. If you use price action in conjuction with vegas 1 hr or vwb i think ull see some good things
  • #1,189
  • Oct 24, 2006 1:22pm Oct 24, 2006 1:22pm
give me some time to think how i want to reply to this volvo.


jim
Quoting volvo264
Hello james,


Many thanks for the above post which I find helpful. If I may quote you , you mentioned that:-


"price action analysis is different. it can be stated simply as a method. a method is always more simple and always more reliable. combine a method with a system that is practical and robust and your onto something. "


I agree with the point about price action. Price is "King" in terms of trading. You also mentioned above about combining price action method with a practical system. Please can you mention the name of a system that you use in conjunction with the james16 price action method or perhaps mention the name of a system that appears to work in conjunction with the james16 price action method. Many thanks in advance.



regards,

volvo
  • #1,190
  • Oct 24, 2006 2:47pm Oct 24, 2006 2:47pm
Awesome questions Volvo. I cant wait for james to respond. I love the James Price Action education! I have been applying it to VWB and the 1 hr tunnel. Good stuff.

<3
  • #1,191
  • Oct 26, 2006 10:44am Oct 26, 2006 10:44am
Hello james ,



If I may quote yourself :-


"give me some time to think how i want to reply to this volvo."



James I just wanted to ask do you need a few days more to answer the question? I just wanted the information thats all. It was not designed as a difficult question. All the best.



volvo
  • #1,192
  • Oct 26, 2006 10:55am Oct 26, 2006 10:55am
hello volvo,

good thing you reminded me because i forgot. with 10 to 20 emails and pm's a day i tend to do that more than i used to. i dont want to give a quick answer so be back with a decent one asap.
Quoting volvo264
Hello james ,



If I may quote yourself :-


"give me some time to think how i want to reply to this volvo."



James I just wanted to ask do you need a few days more to answer the question? I just wanted the information thats all. It was not designed as a difficult question. All the best.



volvo
  • #1,193
  • Oct 26, 2006 2:41pm Oct 26, 2006 2:41pm
Good Day all! My 1st post; been at this a week. Could someone offer their point of view on the USD/CAD H4 Chart? It looks to me like a nice Pin Bar topped out against 2 Fib. Ret. of 50 & 61.8 all lining up. Anyone that can confirm this looks good...or that I'm still clueless?? Thanks
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  • #1,194
  • Oct 26, 2006 2:52pm Oct 26, 2006 2:52pm
well i caught that one today as well I played it for a quick 20 pts was a nice little profit. I had a very small stop on it too , worked out well

according to your chart, looks like you got in very late. I dont know how i feel about jumping in as late as you did. i would just wait for the next opportunity

regards
mike
  • #1,195
  • Oct 26, 2006 5:04pm Oct 26, 2006 5:04pm
yea, a few hours too late due to the real job I still keep. No worries though, I'm more focused on training the eye to pick out the 'A' price formations. Thanks for your viewpoint and confirmation Mike.

Tony
  • #1,196
  • Oct 26, 2006 5:48pm Oct 26, 2006 5:48pm
Hi!
If you want my opinion:
Looks like the 4h bearish outside bar (on my 4h, that's the pin on your 4h) turned into a daily pin here on my timezone.

I'd wait for a retrace to about 1.1250 and go short there if you are convinced that it's a true pin and a good setup. (I don't know, I think it's not in the best place but 4h does hint at lower)

Please keep in mind however that if you do this you are attempting to trade a pin that hasn't broken/been activated yet. (price has not moved below the pins body yet).

A break of 1.1200 would confirm well and as shown on the chart I'd aim at 1.1120 and 1.1050 for taking profit, all the while moving the stop up accordingly so as to not lose more than necessary.
Keep in mind tho that grabbing at resistance a few times before moving down could be likely, especially if 1.1200 struggles and puts up a fight.

Personally I can't stand USDCAD as it's too much oil based and that's way way way too erratic for me. I try to stay away.(could be a clue as to oil falling again after it's insane 2+$ rise tho)

Just my 2 cents, not telling you to trade this. (i.e. I don't have a clue, this is an opinion, not an advice or recommendation).

Best Regards and wishing you good luck,

SeekingLight
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Trust price. Know yourself.
  • #1,197
  • Oct 26, 2006 6:19pm Oct 26, 2006 6:19pm
It'll be better to wait till price went below 1.2000 i think, pinbar low is exactly at 618 retracement area, and there's trendline break too

http://img93.imageshack.us/img93/219...dfozzy1im9.gif.
  • #1,198
  • Oct 26, 2006 9:33pm Oct 26, 2006 9:33pm
Hi All,
Just wondering how many of you look at monthly charts, reason i ask is i was looking at the swissy daily today and flicked it to the monthly and saw a lovely little shooting star candle forming AKA pin bar, so i put a fib on it and low and behold the high of the candle is right on a 618 ret, very interesting, so i zoomed out a bit further and the high of the candle happens to be pretty close to old support levels going back to may 2003 and october 1998 which now could become resistance, sending the swissy back into it's downtrend.
Anyway just wondering if anyone else has an oppinion on this, agree or disagree, Also would be good if James would give his opinion on this.
Cheers
geoff
  • #1,199
  • Oct 26, 2006 10:33pm Oct 26, 2006 10:33pm
Well caught Geoff!!

Looks good to me.

Quoting geoffrod
Hi All,
Just wondering how many of you look at monthly charts, reason i ask is i was looking at the swissy daily today and flicked it to the monthly and saw a lovely little shooting star candle forming AKA pin bar, so i put a fib on it and low and behold the high of the candle is right on a 618 ret, very interesting, so i zoomed out a bit further and the high of the candle happens to be pretty close to old support levels going back to may 2003 and october 1998 which now could become resistance, sending the swissy back into it's downtrend.
Anyway just wondering if anyone else has an oppinion on this, agree or disagree, Also would be good if James would give his opinion on this.
Cheers
geoff
Bundy's status today: "Waiting..."
  • #1,200
  • Oct 27, 2006 2:30pm Oct 27, 2006 2:30pm
I received this email link from EWI (Elliot Wave International) about price pattern setups and found it quite interesting. Check it out, its a short read but quite informative.

http://www.elliottwave.com/club/prot...arPatterns.pdf
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