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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

  • #1,301
  • Nov 13, 2006 2:07am Nov 13, 2006 2:07am
Hi

For bullish/bearish engulfing bars, the close must be above/below the prior bar....page 1, post#10

I would say the 6th bar from left is not a beovb as the close is not below the prior bar.

(See the 14th bar from left for a good example of BUOVB - the close IS above prior bar high)

Quote
Does the 2nd bar mean BUOVB? but if it is, why it went down?
Thats Forex....Even it was the perfect bar/signal.....price may not go where you expect it
  • #1,302
  • Nov 13, 2006 9:39am Nov 13, 2006 9:39am
Thnks James for sharing this superbe method! I have just read this thread and i am going to apply on virtual mode 1st. If it succeed, i think we should attach to this forum as a proof that actually this method does works and lead us to profits.
Happy trading for Everyone!!!
Forex has never been this SO exciteD !!
  • #1,303
  • Nov 13, 2006 9:57am Nov 13, 2006 9:57am
James16 and everyone... just thought I would share a wonderful success I have experienced last night...

Using some PA analysis taught in this thread... I noticed that on Friday... the EUR/USD created a decent looking pin bar.. the HIGH of which happened to be at a .618 retracemtn on the WEEKLY chart AND a nice little down trend line...

I placed a limit sell at the .618 retrace of the DAILY PB @ 1.2875...

yoiu'll notice the high of today's little retrace was 1.2879!!! (InterbankFX data)...

I was filled on my shorts - 5 lots... and have taken a total of 120 pips (on 4 of the lots) so far on today's decline and my 5th lot is trailing with 60 pips profit alone so far...!!!!

Needless to say, I will be joining the PF ASAP... to make sure I get all of the insights not available on the public thread...

Thanks for sharing these methods with us James!!!

Dave
  • #1,304
  • Nov 13, 2006 10:07am Nov 13, 2006 10:07am
Quoting leo2006
Thnks James for sharing this superbe method! I have just read this thread and i am going to apply on virtual mode 1st. If it succeed, i think we should attach to this forum as a proof that actually this method does works and lead us to profits.
Happy trading for Everyone!!!
If it doesn't work, then you're doing it wrong. It's been proven over and over again.
Keeping it Simple
  • #1,305
  • Nov 13, 2006 10:33am Nov 13, 2006 10:33am
Quoting habeeb
If it doesn't work, then you're doing it wrong. It's been proven over and over again.
Totally agree. Yay for EURUSD / USDCHF(both still open&running with stops at b/e), shame on me for snoozing still when that GBPUSD happened
Also made 45 pips on AUDUSD from an IB.

And a big yay for James!
Trust price. Know yourself.
  • #1,306
  • Nov 13, 2006 2:17pm Nov 13, 2006 2:17pm
dave777 i had exactly the same ta as you trendline on weekly chart and fibs from 3668 to 1668 see chart
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  • #1,307
  • Nov 13, 2006 3:21pm Nov 13, 2006 3:21pm
Quoting SeekingLight
Totally agree. Yay for EURUSD / USDCHF(both still open&running with stops at b/e), shame on me for snoozing still when that GBPUSD happened
Also made 45 pips on AUDUSD from an IB.

And a big yay for James!
Don't mention cable. I think we snooze the same time.
Keeping it Simple
  • #1,308
  • Nov 13, 2006 4:29pm Nov 13, 2006 4:29pm
Hi, I have finally finished reading this thread, then re-reading, and reading it again!!! It is amazing the amount of knowledge found here!!! I have learned a lot, and continue to learn every time I read it. But something that has eluded my understanding is when an internal bar is an internal bar. I can see clearly the bearish/bullish outside bars, and understand its logic. But the internals bars still confuse me. What exactly constitutes an internal bar? When is it bullish/bearish? What is a I4B? I know it means "inside bar, smallest of 4"...but...which 4? To me this is a little confusing!!!

Can somebody "illuminate " me? I am going through my 4th reading of the whole thread....still learning.
  • #1,309
  • Nov 13, 2006 4:59pm Nov 13, 2006 4:59pm
Quoting alcastro
What exactly constitutes an internal bar? When is it bullish/bearish? What is a I4B? I know it means "inside bar, smallest of 4"...but...which 4? To me this is a little confusing!!!

Can somebody "illuminate " me? I am going through my 4th reading of the whole thread....still learning.
Internal bar I assume you mean inside bar.

Insidebar is any bar that has its highs and lows within the previous bar

An I4B, is an inside bar that is the smallest bar(range high to low) of the previous 3 bars, and is inside the previous bar. Here is a chart.

An I4B is an inside bar, but an inside bar isnt always an I4B

Hope this helps,
Mike

Oh ya those small bars are Interbank Sunday bars, those I dont count. And yes that I4B could really be more then just the last 4, but for learning purposes I didnt count them
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  • #1,310
  • Nov 13, 2006 6:23pm Nov 13, 2006 6:23pm
Thanks MBQB,


your chart is very helpful. By looking at it: an IB is always in the opposite direction of the preceding bar? and it signals a trend continuation when broken, in the direction of that preceding bar?
  • #1,311
  • Nov 13, 2006 6:27pm Nov 13, 2006 6:27pm
an IB is not always the same as the previous bar, my chart just happens to be like that. Basically when you see an IB you can look for a breakout either way. It's showing consolidation in a sense, being contained within previous Highs, and Lows.

Best,
mike
  • #1,312
  • Nov 13, 2006 10:41pm Nov 13, 2006 10:41pm
Hi Harold...

wonderful... great mihnds think alkie eh?

I hope you made abundle!!!!

let's keep looking for great set-ups like that one was..

Happy Trading

Dave

Quoting harold4x
dave777 i had exactly the same ta as you trendline on weekly chart and fibs from 3668 to 1668 see chart
  • #1,313
  • Nov 14, 2006 2:49am Nov 14, 2006 2:49am
Pin Bar on Daily GbpChf. Second eye has retraced to within 1 pip of the first eye. Nice place to enter long to keep the stop small. Or just wait for price action on the lower timeframe.
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Keeping it Simple
  • #1,314
  • Nov 14, 2006 3:00am Nov 14, 2006 3:00am
Here's the 1hr Pin that just formed.
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Keeping it Simple
  • #1,315
  • Nov 14, 2006 7:29am Nov 14, 2006 7:29am
Hi,

I am looking at joining the James 16 PF. Can someone tell me when the month starts? Do I need to wait till the first of the month or is it from date of payment?

Thanks in advance
  • #1,316
  • Nov 14, 2006 7:38am Nov 14, 2006 7:38am
Quoting minute
Hi,

I am looking at joining the James 16 PF. Can someone tell me when the month starts? Do I need to wait till the first of the month or is it from date of payment?

Thanks in advance

Hi,
hope it's ok if I just jump in and answer it: it's a month from date of payment, so it doesn't matter when you join. You can join anytime

Best regards,

SeekingLight
Trust price. Know yourself.
  • #1,317
  • Nov 14, 2006 9:37am Nov 14, 2006 9:37am
Here was a nice trade off of yesterday's NZDUSD Daily chart. I4B (inside 4 bar) which broke to the downside. Took 1/2 proift @ +40, 2nd half still running. Will watch for price action as it approaches the 365 to manage open position.

Price action rules! Thanks James16!
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Michael fxgorilla
  • #1,318
  • Nov 14, 2006 9:42am Nov 14, 2006 9:42am
Quoting habeeb
If it doesn't work, then you're doing it wrong. It's been proven over and over again.
Well, actually i still need a brief explanation about this method, since there are many improvements made. I just understand the DBHLC, DBLHC, "pinochio". And so far, i am playing with a simple BAr chart and it did gave me profit. I have learned that everytime the "pinochio" appears, it will bring a reverse trend. All i have to do is set the target to 5 - 10 pips.
I still dont understand about the FIBs, I4B and many other indicators in associated with james chart.
So please, anyone, could u guys give me an explanation about the recent james chart setting ( including the signs and the indicators and how to set them ). Like Habeeb said, it's been proven over and over again. So please let me know the summary of the james chart.
I also find that reading the Forex calender will help me much in analyzing the chart. I am totally a newbies and i really need your help now...

Thnks. Sorry if my english is not too good.
Forex has never been this SO exciteD !!
  • #1,319
  • Nov 14, 2006 10:28am Nov 14, 2006 10:28am
Quoting habeeb
Hi Volvo,
I guess this is what Jim is getting at. I'm sure you too have seen the "quest for Mouteki filters" threads around. Mouteki's method works great on it's own. But, with price action, you can minimize your losses and thus making it a more profitable system than it is already.

Here's an example in the chart. Price openned below the bottom trendline ... a Mouteki sell signal. So you enter immediately (according to Mouteki that is). When the next bar opens, you'd have seen that the bar you entered on is a Pin Bar. So you exit your trade for a small loss, instead of waiting for price to hit your stop.

Price action compliments any system.

Take Care
Habeeb
Habeeb,
Does MOuteki work with "James chart" ? I have learned mouteki before. I am just wondering if u have proven it works to determine the price projection... It'll be superbe if u could attach the latest trade u had by using mouteki...
Forex has never been this SO exciteD !!
  • #1,320
  • Nov 14, 2006 10:37am Nov 14, 2006 10:37am
As I have already reported on a number of threads, I have been demo trading both 'systems' across 10 pairs over the past 4-5 weeks with both very good results.

I tried to move on from M15 to H1 indicator based system and migrate to longer time frames. So Mouteki got me into TL's and price action and James16 gave me an even bigger picture.

So my take is that it's good lo look at several timeframes and if you can get a James16 signal such a PB and then also a Mouteki TL break, you are likely to have a high probability trade. Ideally you should then also check H1 chart or even M15 as well for best point of entry.
Consistency and patience is everything
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