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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

  • #1,321
  • Nov 14, 2006 10:46am Nov 14, 2006 10:46am
Quoting leo2006
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.
Sorry leo, I won't be able to summarize this entire 90 page thread. You'll just have to read the entire thread, from the first page.
Wouldn't it be nice if I could summarize the English language, or any other language. Unfortunately, I don't think it's possible. Price Action is the language of the markets. With practice, it'll become second nature.
Keeping it Simple
  • #1,322
  • Nov 14, 2006 10:55am Nov 14, 2006 10:55am
Quoting leo2006
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...
Here's a Mouteki trade, but my entry was based on what I learnt from Jim, resulting in a smaller stop and larger profit target.
Attached Image
Keeping it Simple
  • #1,323
  • Nov 14, 2006 10:58am Nov 14, 2006 10:58am
Quoting Geldmeister
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.
Geldmeister, Could you tell me how to set the stop loss in Mouteki Trading? all i know that we should set 15 - 30 pips for stop loss. Am i right? Or there might be somekind of calculation?

Thnks for your reply and i really hope that u can attach some drawings here of succesful trade...

Leo
Forex has never been this SO exciteD !!
  • #1,324
  • Nov 14, 2006 11:09am Nov 14, 2006 11:09am
Quoting habeeb
Here's a Mouteki trade, but my entry was based on what I learnt from Jim, resulting in a smaller stop and larger profit target.
Wow! Thanks to you Habeeb.. for the drawings..
Herewith i attach the Mouteki for GBP.USD.
Please correct me if i am wrong...
Attached Image
Forex has never been this SO exciteD !!
  • #1,325
  • Nov 14, 2006 11:19am Nov 14, 2006 11:19am
Quoting Geldmeister
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.
one more thing before i go to sleep ( because it's already 1.17 am here in indonesia hehehe ). Please please tell me about James16 signal such as PB and also how to set the MOuteki TL break...
I might not go over the pages, so please tell me the shortcut...

Thnks so much!!
Forex has never been this SO exciteD !!
  • #1,326
  • Nov 14, 2006 12:27pm Nov 14, 2006 12:27pm
Quoting leo2006
one more thing before i go to sleep ( because it's already 1.17 am here in indonesia hehehe ). Please please tell me about James16 signal such as PB and also how to set the MOuteki TL break...
I might not go over the pages, so please tell me the shortcut...

Thnks so much!!
What do you mean by "James16 signal such as PB"?
Keeping it Simple
  • #1,327
  • Nov 14, 2006 12:33pm Nov 14, 2006 12:33pm
Quoting habeeb
What do you mean by "James16 signal such as PB"?
I think he means James16 signal such as pin bar.
  • #1,328
  • Nov 14, 2006 12:54pm Nov 14, 2006 12:54pm
Quoting fijitrader
I see lots of triangles and elipses. I spent about 10 minutes looking at some of the charts. If this approach appeals to people and they are willing to devote the time to it then cool. It reminds me somewhat of Gann. I think with most discretionary trading approaches if you spend enough time and develop the restraint to stay out of marginal trades you eventually can achieve a higher success ratio than with mechanical systems.

The majority of people cannot trade discretionary systems successfully. Heck the majority cannot trade mechanical ones either because they turn them into discretionary systems.

FT
Was browsing through this thread again, and thought to myself that this is so true.
Keeping it Simple
  • #1,329
  • Nov 14, 2006 12:55pm Nov 14, 2006 12:55pm
Quoting hidethereal
I think he means James16 signal such as pin bar.
Keeping it Simple
  • #1,330
  • Nov 14, 2006 2:41pm Nov 14, 2006 2:41pm
Quoting leo2006
Geldmeister, Could you tell me how to set the stop loss in Mouteki Trading? all i know that we should set 15 - 30 pips for stop loss. Am i right? Or there might be somekind of calculation?

Leo
I do not know of any calculation. Defining appropriate stops was one of the objectives of my testing Mouteki across 10 pairs. It varies a bit, but generally many of my succesful trades only needed a stop of 10-20 pips. However, with volatile pairs such as GBP/USD it's more like 30. So I guess you are none the wiser, but that's how it is, a matter of experience, discretion and money management
Consistency and patience is everything
  • #1,331
  • Nov 14, 2006 2:42pm Nov 14, 2006 2:42pm
Quoting leo2006
one more thing before i go to sleep ( because it's already 1.17 am here in indonesia hehehe ). Please please tell me about James16 signal such as PB and also how to set the MOuteki TL break...
I might not go over the pages, so please tell me the shortcut...

Thnks so much!!
Leo2006,
Having this huge pool of fantastic information and advice here at FF is as much of a shortcut to trading success as you can expect! Otherwise, you must make the effort to read through the threads that you are interested in.
Re explaining Mouteki rules: if you even bothered to check out the start of that thread you'd see the manual that in itself is very short and concise for your convenience.
Re James16: I myself must confess not to have worked through all pages but at least gone far enough to pick up the key stuff.
So if you are serious spend at least some time studying!
Good luck with your trading
Consistency and patience is everything
  • #1,332
  • Nov 14, 2006 10:44pm Nov 14, 2006 10:44pm
Quoting Geldmeister
I do not know of any calculation. Defining appropriate stops was one of the objectives of my testing Mouteki across 10 pairs. It varies a bit, but generally many of my succesful trades only needed a stop of 10-20 pips. However, with volatile pairs such as GBP/USD it's more like 30. So I guess you are none the wiser, but that's how it is, a matter of experience, discretion and money management
Thanks Geldmeister..
Forex has never been this SO exciteD !!
  • #1,333
  • Nov 15, 2006 3:13am Nov 15, 2006 3:13am
This Pin looks very promising. We've got a 4hr pin too, but it's going against the daily pin. Will wait for price to move higher before going short.
Attached Image
Keeping it Simple
  • #1,334
  • Nov 15, 2006 5:19am Nov 15, 2006 5:19am
Wew!! yesterday i thought that i was still confused of this method. As time goes along. i start to know how James16 and Mouteki works Superbe if they are combined.
I have made several profit and loss However, the profit happens many times than the loss. i get exited and so far things are running as planned.
Here with i attach my latest positions and i think it will reach the PP ( price projection ) target.
Those reds below ( Aud/usd - long ) were made before i knew this method. Well, i am still hoping that the reds will turn green someday.

Leo
Attached Image
Forex has never been this SO exciteD !!
  • #1,335
  • Nov 15, 2006 5:30am Nov 15, 2006 5:30am
HI, i am back again.. Herewith i attach the usd/jpy. Anyone does the same thing? All i am using is 4hour bar chart, coz i was told that it is the most suitable time range for making profit.
If we look back at the chart, i notice that everytime a "pinochio" happens, it always creates a reverse trend. So, after a "pinochio" happens and it is signaling for a reverse trend, i will apply directly the Mouteki to determine a price projection. So far, it works! As you see from my previous post.
Analyzing the forex calender really help me much in making decision, whether we should go long or short.
Maybe i am too exited.. but i am! Any suggest and crtitics, pls let me know
Attached Image
Forex has never been this SO exciteD !!
  • #1,336
  • Nov 15, 2006 5:54am Nov 15, 2006 5:54am
Anybody else trade channel bounces.
Attached Image
Keeping it Simple
  • #1,337
  • Nov 15, 2006 5:59am Nov 15, 2006 5:59am
Quoting leo2006
I am trying to post a live chart and not back-tested chart. And this time is eur/usd. When 1st pinochio appeared, i direstly apply the mouteki. And i go SHORT when there is a short signal @ 1.2811. BAsed on calculation for price projection, i should get 134 pips ! or when the price reached @ 1.2677. The Pinochio which happened twice convinced me to go short.
And more, based on forex calender ( http://www.forexfactory.com/index.php?page=calendar ), the USd will go weaker due to "German current account" ( which caused the eur go strong ). On thursday, usd might be strong for a while before it will start to be weaker again due to "consument sentiment", which might cause the Usd weaks.
So, these analyzes so far have convinced me to put EUR/USD on short.

Does anyone agree with me ??

Leo
Looks like you've made yourself a system. But you sound too excited. Relax, and keep your concentration.

Take Care
Habeeb
Keeping it Simple
  • #1,338
  • Nov 15, 2006 6:01am Nov 15, 2006 6:01am
Once again, using the 1hr to confirm the bounce, and keep the stop small.
Attached Image
Keeping it Simple
  • #1,339
  • Nov 15, 2006 11:24am Nov 15, 2006 11:24am
wtf!?!

i should of used this one in my indicators motivational poster! pollock, eat yer heart out!!! :

Quoting TheRumpledOne
I JUST LOVE HORIZONTAL LINES...

http://kreslik.com/forums/userpix/3_...006Oct17_1.jpg
  • #1,340
  • Nov 15, 2006 11:25am Nov 15, 2006 11:25am
jim,

i hafta to say out of all the system threads out there this is the only one i keep coming back to. don't worry you'll regain pole position in no time!
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