james16 Chart Thread | Page 189 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #3,761
  • May 24, 2007 5:02pm May 24, 2007 5:02pm
Quoting fayeaa0d[SIZE=2
]It is good to see you posting again Jim.

[/size]Whats the news on the web site or book. I'm eagrly waiting
Book... What book?

Jim, are you writing a book?
  • #3,762
  • May 24, 2007 5:14pm May 24, 2007 5:14pm
Quoting Goozman
Book... What book?

Jim, are you writing a book?
no book lol

New website in the making though
  • #3,763
  • May 24, 2007 6:59pm May 24, 2007 6:59pm
yeah i have to admit i laughed when i saw this and then i went and looked at some of my old trading books and really laughed. i could do a damn good one and who knows, maybe someday.

jim

Quoting mbqb11
no book lol

New website in the making though
  • #3,764
  • May 24, 2007 7:02pm May 24, 2007 7:02pm
Quoting james16
yeah i have to admit i laughed when i saw this and then i went and looked at some of my old trading books and really laughed. i could do a damn good one and who knows, maybe someday.

jim
damn straight you could, with matching dvd set

i am personally waiting for the james16 music video
  • #3,765
  • May 24, 2007 7:41pm May 24, 2007 7:41pm
Where can we get this music video ?????????????????????????????????????????????????????????????????????????????????????
  • #3,766
  • May 24, 2007 9:10pm May 24, 2007 9:10pm
LOL. believe it or not i was in a high school rock band in the seventies. we sucked but man the chicks were thick. could tie my hair in a knot under my chin. if i could have been anything in life i would have chosen rock star. when i was around 20 i hired on with a production company to help build the stages for all the state rock festivals. traveled all over the country. florida jam, california jam, you name it. i partied to hard to remeber a lot but it was a blast.

back stage pass and sat right on the stage. partied personally with bands like van halen, foreigner, ozzy, eddie money, heart, zztop, steve miller, journey, styx, you name it. i was on the stage at the florida jam the day randy rhodes died. all of ozzies roadies were there bringing his stuff on. i was standing right there when someone came up and told them to stop and take everything off that randy had died and ozzy wasnt coming. the stories i could tell you wouldnt believe. ive seen cops snort cocaine on many occassions at those shows back stage

jim

.
Quoting rlelijah
Where can we get this music video ?????????????????????????????????????????????????????????????????????????????????????
  • #3,767
  • May 24, 2007 10:06pm May 24, 2007 10:06pm
I'm at kindergarten level & not sure I should be continuing in this thread, but it's very interesting. Thnx
BUT--I don't understand much of it:
don't understand application of wkly pivot level, or how to put in on a chart.
what is fib confluence
you mentioned pin bar; which one?

Sorry--I know this is very basic. I'm on pg 9 & will continue to read & study graphs. It seems I'm the only one in the thread not knowing a hell of a lot (more like not knowing a hell of a little).
Thnx, Sid
  • #3,768
  • May 24, 2007 10:12pm May 24, 2007 10:12pm
Quoting yendis70
I'm at kindergarten level & not sure I should be continuing in this thread, but it's very interesting. Thnx
BUT--I don't understand much of it:
don't understand application of wkly pivot level, or how to put in on a chart.
what is fib confluence
you mentioned pin bar; which one?

Sorry--I know this is very basic. I'm on pg 9 & will continue to read & study graphs. It seems I'm the only one in the thread not knowing a hell of a lot (more like not knowing a hell of a little).
Thnx, Sid
Hey Sid,

Don't be discouraged. This is a huge thread, and you have just started on page 9. I would venture to guess almost all the questions you could ask have been answered in this thread more then once. So I highly recommend going through the whole thread a few times, and things will start to click I promise

Fib confluence - is when you have 2 or more fibs lining up. This would be a place where you look for price action. Ex. You draw fib retracments from 2 different swing low to highs and you have an area where a 50% retrace on one and a 38.2% retrace line up. This is an area of confluence. Confluence can come in different forms as you will see going through this thread. It could be a EMA and a Fib, or a TL, FIB, EMA etc

A pinbar is just the description of a reversal bar that we look for at swing highs and lows. I checked that chart, and it is tough to see what is going on there. There are a few pinbars there, I would just skip that chart and move on many many more examples in the coming pages for you

Best of luck!
Mike
  • #3,769
  • May 24, 2007 10:21pm May 24, 2007 10:21pm
ok lets go one step at a time. very simple stuff and you will see that soon if you work at it. i was where you are once and everyone else also.

1. pivot levels. i could tell you but do this on your own. google floor trader pivots. in 30 minutes you will know everything you need. there are pivot calculators all over the web. plug in the numbers and out it comes. just plot them on your chart.

2. fib confluence is where two different fib levels line up. confluence can also be a pivot and a fib line. google this also.

3. pin bars are a single bar formation described in detail all thru this thread.

4. what we do here is as simple as trading gets. by a long shot. wont take you long. dedicate a little time everyday and go thru the thread post by post. most people that accomplish it dont regret it.

jim



2.
Quoting yendis70
I'm at kindergarten level & not sure I should be continuing in this thread, but it's very interesting. Thnx
BUT--I don't understand much of it:
don't understand application of wkly pivot level, or how to put in on a chart.
what is fib confluence
you mentioned pin bar; which one?

Sorry--I know this is very basic. I'm on pg 9 & will continue to read & study graphs. It seems I'm the only one in the thread not knowing a hell of a lot (more like not knowing a hell of a little).
Thnx, Sid
  • #3,770
  • May 25, 2007 12:18am May 25, 2007 12:18am
Quoting yendis70
I'm at kindergarten level & not sure I should be continuing in this thread, but it's very interesting. Thnx
BUT--I don't understand much of it:
don't understand application of wkly pivot level, or how to put in on a chart.
what is fib confluence
you mentioned pin bar; which one?

Sorry--I know this is very basic. I'm on pg 9 & will continue to read & study graphs. It seems I'm the only one in the thread not knowing a hell of a lot (more like not knowing a hell of a little).
Thnx, Sid
Well, whatever level you are at, you are one smart guy. If I had found this thread when I was starting out...it would have saved me a lot of time, energy, money, frustration...so hats off to you for being such a clever guy so early in the game, Raz
Never say never.
  • #3,771
  • May 25, 2007 12:27am May 25, 2007 12:27am
A bit early in the day to say for sure but there looks like a lot of PB's forming on most of the YEN crosses.
  • #3,772
  • May 25, 2007 12:48am May 25, 2007 12:48am
So far almost all the yen crosses seem to be forming pin bars, but it doesnt make sense to buy on all of them. So how do you know which PBs have the higher probabilty of winning? Does how much the bar goes up by influence the strength of PBs?
  • #3,773
  • May 25, 2007 1:07am May 25, 2007 1:07am
Quoting nikim
So far almost all the yen crosses seem to be forming pin bars, but it doesnt make sense to buy on all of them. So how do you know which PBs have the higher probabilty of winning? Does how much the bar goes up by influence the strength of PBs?
hi nikim, Im just a nobody here but I think you should definitely follow james' advice and take things one step at a time...if there are many pinbars forming on yen crosses it signals temporary weakness/strength in the yen, so depending on the timeframe you are looking at, wait for a close and then take every individual pair and analyze it to death until you find one that is just right...ths sounds like a perfect time to pick a goodie from the bunch really doesnt it? Make sure the tf you are looking at is closed though, as say the daily charts have still got 14 hours to close...As usual you are looking for confluence at a swing high/low, s/r points, fibs, trendlines, emas, all the stuff j16 repeats in this thread...happy pipping, Raz
Never say never.
  • #3,774
  • May 25, 2007 1:25am May 25, 2007 1:25am
So here goes another eur chart, we have broken another tbl, which set off a limit order I had just below. My target is the fib confluence area at 1.3370 ish, and I will look out from there for some pa signal to get me in long anywhere from that area to 3300, the 61 fib and trendline confluence as well...comments please! Raz
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 55 KB
Never say never.
  • #3,775
  • May 25, 2007 1:37am May 25, 2007 1:37am
really a great thread...i came across this pin bar thing just before a couple of days....im a big big fan of "minimalistic" aproaches, so this appeals to me very much...

reg euryen a.o....i think, one of the best locations to watch out for PBs are at the end of pullbacks when the market/timeframe is in an uptrend or at the end of rallys when the market/timeframe is in a downtrend...so, euryen was a buy in my eyes...unfortunatyl i was asleep when the 1h PB showed up

but the PB on 1h usdcad does work well so far
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euryen.JPG Size: 51 KB
Click to Enlarge Name: usdcad.jpg Size: 62 KB
  • #3,776
  • May 25, 2007 2:27am May 25, 2007 2:27am
Quoting peter100
unfortunatyl i was asleep when the 1h PB showed up
Tell me about it, I just closed a trade that went +120 2-3 hours after going to bed for -20 after waking up because I was too pigheaded and didn't put in the limit I had in mind...(actually spent 15 minutes debating with myself whether I should put it in or not last night)

No trailing stop available here either :S

C'est la vie.
Trust price. Know yourself.
  • #3,777
  • Edited 3:01am May 25, 2007 2:51am | Edited 3:01am
seeking,

i most definitly would not short any of those aud, cad, eur, gbp ..yen pairs...untill theres some definite unwinding starting...somewhere over the rainbow...

in general i would consider shorting a swing high in an uptrending market (or vice versa) only with a smaller trade size... like for example going long on usdcad

btw, euryen and the european stock market have a strong correlation
Attached Image (click to enlarge)
Click to Enlarge Name: euryen-dax.jpg Size: 82 KB
  • #3,778
  • May 25, 2007 3:07am May 25, 2007 3:07am
Quoting james16
LOL. believe it or not i was in a high school rock band in the seventies. we sucked but man the chicks were thick. could tie my hair in a knot under my chin. if i could have been anything in life i would have chosen rock star. when i was around 20 i hired on with a production company to help build the stages for all the state rock festivals. traveled all over the country. florida jam, california jam, you name it. i partied to hard to remeber a lot but it was a blast.

back stage pass and sat right on the stage. partied personally with bands like van halen, foreigner, ozzy, eddie money, heart, zztop, steve miller, journey, styx, you name it. i was on the stage at the florida jam the day randy rhodes died. all of ozzies roadies were there bringing his stuff on. i was standing right there when someone came up and told them to stop and take everything off that randy had died and ozzy wasnt coming. the stories i could tell you wouldnt believe. ive seen cops snort cocaine on many occassions at those shows back stage

jim

.
God that brings back those good old days, I would have been one of the stupid groupie girls in love with every long haired guitar smashing rock star...I remember we used to go to this one club with live bands and me and my friends were doing the groupie thing at the bands' table and one of the band guys said "how does it feel to be young and tight?" LOLLLLLL Im sure nobody will ever say that to me again ...Raz
Never say never.
  • #3,779
  • May 25, 2007 3:29am May 25, 2007 3:29am
Following James suggestion:
Some daily PINs, demo only to see how they play out.....

23/5 AUDUSD daily PIN off 20MA & 50% fib
Short 82.10 (early entry), stop 82.78,
watch out for support at 8170/80, so take profit on half at 8180
24/5 move stop to 82.47 (daily high)

23/5 AUDJPY daily PIN off highs
Short 99.72, stop 100.50
(weak, against trend, close around previous daily high)
24/5 move stop 100.22 (daily high)

24/5 GBPCHF daily PIN off 76% fib
Short 2.4351, stop 2.4453
(weak, short nose, against trend, against monthly PIN)

None of these are 5 star PINs (with trend, long nose & strong confluence), but I'll monitor them to see how they play out.
  • #3,780
  • May 25, 2007 5:18am May 25, 2007 5:18am
a potential PB on crude oil yesterday...location looks ok to me
Attached Image
71 traders viewing now