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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

  • #4,861
  • Jul 23, 2007 6:26am Jul 23, 2007 6:26am
Hi Raz, How do I join the J16's PF I would appreciate your info here or any body's else who already done that. Thanks, Dan
  • #4,862
  • Jul 23, 2007 6:28am Jul 23, 2007 6:28am
Quoting mbqb11
yeah this is but, these bars are much more reliable when the close is lower then the previous bars low.

And also you really shouldn't even be looking to play anything on the 1 hr charts. Stick to the daily/weekly in the beginning it will save you a lot of headaches I promise.

M
Thanks Mike,

Just trying to get my eye accustomed to recognizing the setups. I am not entering - just observing for the time being. Not even scalping. Very difficult this AM. Feels like they are stop hunting. Or just hunting- but what?

Edit - Whilst you are here!!- The eye to the right of the weekly(this week) on the weekly chart is now lower than the eye on the left. That make me more warry. But how do you view it?
  • #4,863
  • Jul 23, 2007 6:29am Jul 23, 2007 6:29am
Quoting dltvn
Hi Raz, How do I join the J16's PF I would appreciate your info here or any body's else who already done that. Thanks, Dan
Hey Dan,

Go to www james16group com and click on the Acceptiva link on the right.
Then it takes you step by step through the process.
At the end, you'll see the James16 Group link at the bottom of the forums list here at FF.

Good decision.

Tom
  • #4,864
  • Jul 23, 2007 6:30am Jul 23, 2007 6:30am
Quoting Tiki Trader
storagepro you are right about all that... !! I will study more first on this one !!
How about an update?

It came all the way down to the fib/support confluence - formed a Pin Bar on the 4 hr chart and it headed up.

Can't call it prognostication, and the day is not yet over (it is only 9:30AM EST and the NY session is just firing up), but when we see things like this standing in the way of price movement, it sure helps us out. It could have been a winner with the right TP. It is all about the odds, and odds are, that a recently tested support will provide support - yet again. The breakout is where we can make money too.

Ultimately, I would like to see it break cleanly through. You could place a Sell Stop on the other side of the confluence and hitch a ride. A safer play is to wait for the confirming price action to play out and then jump in.
I'm pretty much done with all this ...
  • #4,865
  • Jul 23, 2007 6:32am Jul 23, 2007 6:32am
Quoting moneybags
Hey Dan,

Go to www james16group com and click on the Acceptiva link on the right.
Then it takes you step by step through the process.
At the end, you'll see the James16 Group link at the bottom of the forums list here at FF.

Good decision.

Tom
Thanks Tom, I appreciate your help. Dan
  • #4,866
  • Jul 23, 2007 6:49am Jul 23, 2007 6:49am
Quoting mimas
Hi Raz,
I think it was NZD/JPY post 4797 on page 320.
Cheers
hard to k eep up...
Never say never.
  • #4,867
  • Jul 23, 2007 6:49am Jul 23, 2007 6:49am
Ah yes, I know what you mean...but the quick rise up and then down(with the downside not breaking below the previous low) formed a 1-2-3.

PB+trading with the trend+ (1-2-3)= bling bling. Confluence of events according to Jim right?


Quoting moneybags
I think the big gap open followed by the big drop threw some people off(including myself).
But it worked out eventually so that's good.
  • #4,868
  • Jul 23, 2007 6:54am Jul 23, 2007 6:54am
Hi Seeking,
I agree with oanda´s execution and spreads, as long as you stay away from news...their charts are so crap though, what charts do you watch? Or have you got the knack of their (Oandas) configuration, I have to admit I love mt4, but I miss out on a few of the pairs I would like to watch...anyway, will trade oanda when I go live with j16, there is nothing like trading exactly as much or as little as you want (position size wise I mean) but I really do find their charts lacking, take care, Raz
Never say never.
  • #4,869
  • Jul 23, 2007 7:35am Jul 23, 2007 7:35am
I'm not too familiar with Oanda, but FX Solutions is pretty good. Their spreads stay the same, even during the news. And you can change your account options at your leisure from a contract size of 1,000/5,000/10,000/50,000/100,000. And if you want you can change your leverage from 50:1, 100:1, 200:1, 250:1, 300:1 and 400:1. Also, you can change your default lot amount anywhere from 1-10lots. Hope that helps!

Quoting razldazl
Hi Seeking,
I agree with oanda´s execution and spreads, as long as you stay away from news...their charts are so crap though, what charts do you watch? Or have you got the knack of their (Oandas) configuration, I have to admit I love mt4, but I miss out on a few of the pairs I would like to watch...anyway, will trade oanda when I go live with j16, there is nothing like trading exactly as much or as little as you want (position size wise I mean) but I really do find their charts lacking, take care, Raz
  • #4,870
  • Jul 23, 2007 7:39am Jul 23, 2007 7:39am
Quoting razldazl
Hi Seeking,
I agree with oanda´s execution and spreads, as long as you stay away from news...their charts are so crap though, what charts do you watch? Or have you got the knack of their (Oandas) configuration, I have to admit I love mt4, but I miss out on a few of the pairs I would like to watch...anyway, will trade oanda when I go live with j16, there is nothing like trading exactly as much or as little as you want (position size wise I mean) but I really do find their charts lacking, take care, Raz

Dear god, no, I don't use Oanda for anything else other than pushing buttons.

MT4 all the way. Price differences can be annoying, but that's life.

Using IBFX = InterbankFX Demo for most of my charting as you can see by the screenshots. That's GMT. Has the pairs I trade mainly.

Fastbrokers has some more oddball pairs like EURAUD as well and along with Northfinance and Windsor it's all there. The last two however have 1 hour different 4h candles(close one hour later).
And yes, I have 3 or 4 MT4 demos open throughout the day, I'm a sick sick bas***d

(I'm sure that reads bassist...ah wait, that has a t, now I'm thrown, hmmm)



It's true, their sizing is as precise as you will get, but there's always pros and cons as mentioned. They're absolutely fine for normal PA however I have found so far.
Trust price. Know yourself.
  • #4,871
  • Jul 23, 2007 7:49am Jul 23, 2007 7:49am
Quoting moneybags
Good job aqua. I'm glad you're doing well with all the material. It really is great stuff!
I'm also in this trade. I'm just letting it run until it shows reversal signs.
This was a good one.

Tom
Thanks Tom. Letting it run would definately have been ideal. This was my 1st trade on a 4HR chart; I didn't want to miss a T/P exit only to have it reverse while asleep. I prefer not to partially exit (T/P) a position, but rather trail a stop with the entire position based on S/R of closed bars. However, in light of cutting my profit potential short in this instance, I think I'll reevaluate this piece of my trade plan; at least on timeframes lower than Daily.

Hopefully this 'good one' will continue to get better for you!

Tony
  • #4,872
  • Jul 23, 2007 8:12am Jul 23, 2007 8:12am
Quoting Tw0eleven
I'm not too familiar with Oanda, but FX Solutions is pretty good. Their spreads stay the same, even during the news. And you can change your account options at your leisure from a contract size of 1,000/5,000/10,000/50,000/100,000. And if you want you can change your leverage from 50:1, 100:1, 200:1, 250:1, 300:1 and 400:1. Also, you can change your default lot amount anywhere from 1-10lots. Hope that helps!
Thks 211,
the good thing about oanda is you can literally trade 1 cent lots if you want, so its really a lot more flexible than other brokers, ie normally the smallest you can trade is one minilot or 1 dollar. Great for live testing and compounding, but hard to take seriously...also they really have excellent execution, but the drawback is the chart package is soooo basic. Anyway good to know about the fx solutions, Raz
Never say never.
  • #4,873
  • Jul 23, 2007 9:29am Jul 23, 2007 9:29am
Quoting lava
Thanks Mike,

Just trying to get my eye accustomed to recognizing the setups. I am not entering - just observing for the time being. Not even scalping. Very difficult this AM. Feels like they are stop hunting. Or just hunting- but what?

Edit - Whilst you are here!!- The eye to the right of the weekly(this week) on the weekly chart is now lower than the eye on the left. That make me more warry. But how do you view it?
the right eye is never my focus, all my focus is on the left eye.

Take care,
Mike
  • #4,874
  • Jul 23, 2007 9:32am Jul 23, 2007 9:32am
Quoting razldazl
Thks 211,
the good thing about oanda is you can literally trade 1 cent lots if you want, so its really a lot more flexible than other brokers, ie normally the smallest you can trade is one minilot or 1 dollar. Great for live testing and compounding, but hard to take seriously...also they really have excellent execution, but the drawback is the chart package is soooo basic. Anyway good to know about the fx solutions, Raz
both oanda and FXsol are very good. I have used both, and still, have an account with oanda. With FXsol, the swap becomes very high as your leverage is increased. As for retail brokers go, both oanda and fxsol are great. As with any broker, their are drawbacks and positives.

Best,
Mike
  • #4,875
  • Jul 23, 2007 10:04am Jul 23, 2007 10:04am
I really love oanda !!! Yeah, many things about Oanda are not so great, but I can trade whatever size trade I want right down to half a penny a pip if I llike... and that is great for little traders like me with 2K accounts...!!!
  • #4,876
  • Jul 23, 2007 10:05am Jul 23, 2007 10:05am
USD/JPY

Yeah, I havemy order in waiting to break the other side of the fib line... I still say price coming down more... maybe not today... but coming
  • #4,877
  • Jul 23, 2007 10:14am Jul 23, 2007 10:14am
Quoting streetguy88
Hi everyone, noob here.. virgin post.

all feedback are welcomed.

I'm planning to long the USDCAD.

1)DBLHC on daily.
2)near support line and S1 pivot
3)MM lines near 1/8 signalling buy.
4)potential PB on weekly chart.


any constructive feedback are much appreciated.
just remember u have better chances of succeeding going with the trend
100% of traders are losers. Just that some win more than they lose!
  • #4,878
  • Jul 23, 2007 12:09pm Jul 23, 2007 12:09pm
Quoting mbqb11
both oanda and FXsol are very good. I have used both, and still, have an account with oanda. With FXsol, the swap becomes very high as your leverage is increased. As for retail brokers go, both oanda and fxsol are great. As with any broker, their are drawbacks and positives.

Best,
Mike
rest up! Raz
Never say never.
  • #4,879
  • Jul 23, 2007 1:19pm Jul 23, 2007 1:19pm
Can anyone suggest some free charting program that has more pairs ?? You guys are trading other pairs but MT4 does not have them... I don't even have EUR/CAD...

Yes, I know I am cheap... but I am still poor too... !!!

My oanda has all the good pairs, but the charts suck...

THX
  • #4,880
  • Jul 23, 2007 1:32pm Jul 23, 2007 1:32pm
Quoting Tiki Trader
Can anyone suggest some free charting program that has more pairs ?? You guys are trading other pairs but MT4 does not have them... I don't even have EUR/CAD...

Yes, I know I am cheap... but I am still poor too... !!!

My oanda has all the good pairs, but the charts suck...

THX
You could try a MT4 demo from North Finance. They have a lot of currency pairs. I'm sure you know about selecting 'show all' from the right mouse click menu in the market watch window to view all possible pairs from your MT broker.
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