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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

  • #4,761
  • Jul 20, 2007 12:39pm Jul 20, 2007 12:39pm
Quoting mimas
Cateful,
Heres the chart from MVP Global Trading feed.
Oh yes I see it now. It never got broken though. So no losses there.
Take a report.
  • #4,762
  • Jul 20, 2007 12:52pm Jul 20, 2007 12:52pm
Does the Pin have to close near to the top of the bar?

Cateful: Agree with you- I have two screens and two eyes and both work.
  • #4,763
  • Jul 20, 2007 12:53pm Jul 20, 2007 12:53pm
Quoting lava
Does the Pin have to close near to the top of the bar?
you want the open and close to be near the top of the bar(when looking to go long), as much as possible. It is even better when the close is higher then the open. But it doesn't have to be exact. Basically top 1/4 of the bar with a looong nose is the best. And you want the open and close with the previous bar
  • #4,764
  • Jul 20, 2007 1:06pm Jul 20, 2007 1:06pm
Hi all,
One step closer to live trading the j16 method, I see BEOBs forming on daily on all jpy pairs, next week should be interesting!
Have a great weekend, Raz
Never say never.
  • #4,765
  • Edited 1:30pm Jul 20, 2007 1:22pm | Edited 1:30pm
Thanks Mike,

I got the breakout wrong it was 1.4047 on the Dragon's Tail. But support should be at 1.4065. As former resistance becomes support. It is also around the 3/8 level of the Murray Math.
  • #4,766
  • Jul 20, 2007 1:36pm Jul 20, 2007 1:36pm
Quoting lava
Thanks Mike,

I got the breakout wrong it was 1.4047 on the Dragon's Tail. But support should be at 1.4065. As former resistance becomes support. It is also around the 3/8 level of the Murray Math.
What is a dragons tail, and whats murray math and all these calculations, Im getting really confused, is this j16? Ive never heard of this stuff, where is it I havent seen it before...I find it hard enough to follow jims terminology without adding more guys, dont get me more confuseddddddd take care, Raz
Never say never.
  • #4,767
  • Jul 20, 2007 1:40pm Jul 20, 2007 1:40pm
Quoting razldazl
Hi all,
One step closer to live trading the j16 method, I see BEOBs forming on daily on all jpy pairs, next week should be interesting!
Have a great weekend, Raz




Great job!

I think you're doing insanely well on Demo from all I've read from you!

Have to congratulate you on your ongoing effort and success, seems you're really cut out for it, which is great =)

Murrey Math and - I hope this time I am 100% right hehehe - "dragon's tail" aren't part of Jim's PA as far as I know....which might mean nothing considering the Pyramid botch hehehe ;p

You have a great weekend, too, and everyone!

Take care,

SeekingLight
Trust price. Know yourself.
  • #4,768
  • Jul 20, 2007 1:45pm Jul 20, 2007 1:45pm
Quoting razldazl
What is a dragons tail, and whats murray math and all these calculations, Im getting really confused, is this j16? Ive never heard of this stuff, where is it I havent seen it before...I find it hard enough to follow jims terminology without adding more guys, dont get me more confuseddddddd take care, Raz
I don't use indicators beside a few MAs, fibo, pivots and s/r
correct me if I'm wrong, but I think this is what Jim uses as well.
If you're confused just don't think about it. Don't use it. Keep your charts simple and clean.
Take a report.
  • #4,769
  • Jul 20, 2007 1:49pm Jul 20, 2007 1:49pm
Quoting razldazl
What is a dragons tail, and whats murray math and all these calculations, Im getting really confused, is this j16? Ive never heard of this stuff, where is it I havent seen it before...I find it hard enough to follow jims terminology without adding more guys, dont get me more confuseddddddd take care, Raz
It isn't important to J16- but I have learnt many systems and all of them have some very powerful signals. For example the Dragon's tail is a setup. You can do a search on it and you will find a lot about it.
Murray Math is my Pivot system and gives me estimates as to how long a trade make take before I reach TP.
I am a scalper as well. So I need to know these things.
Please don't get confused!!!!
Stick to what you know and do it well. Just ignore me!
I am trying to learn the J16 system.
Just like Mr Jim- I have a need to know and learn as much as humanly possible and I am a price watcher.
I apologize.
  • #4,770
  • Jul 20, 2007 1:49pm Jul 20, 2007 1:49pm
Well, I am interested anyways.... what's a Dragons Tail ?????
  • #4,771
  • Jul 20, 2007 1:52pm Jul 20, 2007 1:52pm
The CAD setup looks nice. I think I may pass on that one as it is against the overall trend. Picking trend reverals drives me mad!
Life is too short to have anything but delusional notions about yourself.
  • #4,772
  • Jul 20, 2007 1:58pm Jul 20, 2007 1:58pm
THX Got it !!!

HOSS Dang !! You might be right about going against the trend... always gotta be something man !!!
  • #4,773
  • Jul 20, 2007 2:15pm Jul 20, 2007 2:15pm
Quoting hoss
The CAD setup looks nice. I think I may pass on that one as it is against the overall trend. Picking trend reverals drives me mad!
Agreed, but I think taking a nice little retraction trade wouldn't be too bad either.
Take a report.
  • #4,774
  • Jul 20, 2007 2:23pm Jul 20, 2007 2:23pm
Quoting SeekingLight
IB broke to upside and yep a DBLHC might be coming at that spot.
I missed this cross due to action in jpy, but hope to get a second change on retrace to 1.0440/50 area. Summer isn't over yet but I'll be looking for CAD to weaken in the next few months as demand for oil goes down. A few longer term calls should perform nicely.. imho
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  • #4,775
  • Jul 20, 2007 2:34pm Jul 20, 2007 2:34pm
Hi raczekfx,

If it gets that far I am outta here! 1.4065 max.
  • #4,776
  • Jul 20, 2007 2:48pm Jul 20, 2007 2:48pm
Daily pin forming after 3rd test of 4755 since Jan 07.
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  • #4,777
  • Jul 20, 2007 2:51pm Jul 20, 2007 2:51pm
Quoting raczekfx
Daily pin forming after 3rd test of 4755 since Jan 07.
the only problem with entering on it's break is that solid bub bar on weekly..
It's just a gut feeling, but we might see another attempt to break that high.
any thoughts?
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  • #4,778
  • Jul 20, 2007 2:52pm Jul 20, 2007 2:52pm
Quoting lava
Hi raczekfx,

If it gets that far I am outta here! 1.4065 max.
hi lava, why would you be selling at a support level?
  • #4,779
  • Jul 20, 2007 3:00pm Jul 20, 2007 3:00pm
Hi raczekfx,

For reasons I can not explain on this thread but I am long averaging 1.4032.
  • #4,780
  • Jul 20, 2007 3:02pm Jul 20, 2007 3:02pm
Not sure if it was posted earlier but there is a pin on the weekly GBP/JPY. Not a perfect one. Again, you are trying to pick a top against the trend in this situation, though.
Life is too short to have anything but delusional notions about yourself.
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