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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

  • #5,661
  • Aug 28, 2007 5:21am Aug 28, 2007 5:21am
We have a TBH on this showing as a strong resistance also scanning back to 27th ish of April also shows as hitting res around this point 1.3684, so a break of this could prove a plus.....
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  • #5,662
  • Aug 28, 2007 5:24am Aug 28, 2007 5:24am
Quoting SeekingLight
Guys, I need your help.

I need you to check out this thread
http://forexfactory.com/showthread.php?t=44435

and vote for what you believe is best. Please also state your opinion in text if got the time.
It's about the new way charts are only thumbnailed instead of shown directly

So please take a look and if you liked the old way better, too, vote!

Thanks!
SL,
Done.
Would have to agree with you here........bring back the old way, for sure....!
  • #5,663
  • Aug 28, 2007 5:39am Aug 28, 2007 5:39am
I have my metratader with NorthFinace for charts analysis and all that stuff, and I enter my trades using FxSol due to the convenience of its trailing stop.
This morning I was long in the Eur/US and suddenly I saw a incredibly long spike going south in the NorthFinance platform-almost 200 pips!!!. Of course it hit my s/l. But I checked my fxsol trade and I am still live there.
What happened at NF? Was it stop hunting? Can they make those massive moves? It must have killed everybody!!!!
  • #5,664
  • Aug 28, 2007 5:41am Aug 28, 2007 5:41am
Quoting alcastro
I have my metratader with NorthFinace for charts analysis and all that stuff, and I enter my trades using FxSol due to the convenience of its trailing stop.
This morning I was long in the Eur/US and suddenly I saw a incredibly long spike going south in the NorthFinance platform-almost 200 pips!!!. Of course it hit my s/l. But I checked my fxsol trade and I am still live there.
What happened at NF? Was it stop hunting? Can they make those massive moves? It must have killed everybody!!!!
nah just a bad price feed
  • #5,665
  • Aug 28, 2007 9:54am Aug 28, 2007 9:54am
Quoting mimas
Hi J2FcM,
Nice pin on EUR/AUD, but can I ask what made you jump on GBP/USD ?
Was it a pin as on my chart feed does not show up ???
Just interested.

Sorry for no pic... but basically, eyes were Fri and Monday. Nose was Sunday, and both eyes were below the 38, and 50 of 2 fib retraces. The nose poked through the fibs. And the 38% and 50% fib lines had almost perfect confluence.

The bad? - the nose was sunday. The 2nd eye was able to hit a 4 point higher high than the 1st eye. I got out with 20 pips because I got antzy last night after losing my EUR\AUD. (which I got back in on).

the formation had 1st eye high .138, nose .190, 2nd eye .141 (FXCM Charts)
Thoughts on the quality of my GBP\USD and why I should've avoided it?
"Please sir, may I have some more pips?"
  • #5,666
  • Aug 28, 2007 11:40am Aug 28, 2007 11:40am
Pin bar in process for daily.
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  • #5,667
  • Aug 28, 2007 11:45am Aug 28, 2007 11:45am
i don't want to be thought to be arrogant but there is some calculations i use in order to know how many pips i made in a trade that was partially closed while the rest is going on, visit here:

http://www.forexfactory.com/showpost...0&postcount=28


Michael
  • #5,668
  • Aug 28, 2007 3:00pm Aug 28, 2007 3:00pm
I have traded the AUD/USD PB... looking like a good trade but I don't know if I dare to wait and see if price will come all the way down to the 365 ema
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  • #5,669
  • Aug 28, 2007 3:18pm Aug 28, 2007 3:18pm
Quoting Tiki Trader
I have traded the AUD/USD PB... looking like a good trade but I don't know if I dare to wait and see if price will come all the way down to the 365 ema
Good for you Tiki!,
I missed it and so will wait for a retrace before considering entering.
  • #5,670
  • Aug 28, 2007 3:47pm Aug 28, 2007 3:47pm
Quoting Tiki Trader
I have traded the AUD/USD PB... looking like a good trade but I don't know if I dare to wait and see if price will come all the way down to the 365 ema

By now / at the current phase of trading I'd rather risk the handful of pips I could have had NOW rather than miss out being in the next big snowball down when I had a great entry.

It is still devilishly hard to do however, but I am trying my best. Takes a lot of confidence and faith though, and I am still a poor wavering soul a lot of times
Trust price. Know yourself.
  • #5,671
  • Aug 28, 2007 4:30pm Aug 28, 2007 4:30pm
  •  zinc6
  • | Joined May 2007 | Status: don't just do something, sit there! | 54 Posts
Quoting J2FcM
btw - thanks for the reply zinc, how has J16's strategy been treating you? Are you trading it live? And what other signals coazed you into the EUR\AUD? mine was just a nice pin, and a retrace. But being that sunday was the nose worried me!
Hi J2FcM,

J16 PA has been going OK for me ... I'm still very new but for me the J16 stuff is very clear and logical ... it does take time though but I can see contant improvement in my trading, which keeps me motivated to keep learning.

I am trading live but only with a nano account, I think the withdrawal fees would wipe out the account so the money was gone when I deposited it. The reason for this as oppossed to demo is that live trades can behave differently than demo around news time etc in terms of what fill you get on your orders. I don't want any nasty shocks/differences when I do go live with a full account.

Not quite sure what you mean by signals ... as my time with J16 has progressed I have removed more and more indicators from my charts which are now pretty much indicator free. I guess the answer is price ... where it is and how it looked ... which I know is not a very satisfactory answer but it's really hard to explain. It always used to annoy me when people said this to me as it was not really clear what they mean ... however the J16 new videos have helped me alot to understand this concept.

On my daily charts I "add Sunday Bars to Monday Bars" and treat it as one bar rather than totally ignore Sunday bars (which are actually the Monday Asian session).

Good Luck with your trading ... seems this pin is going very nicely now...

br,

zinc6
  • #5,672
  • Aug 28, 2007 5:14pm Aug 28, 2007 5:14pm
OK I took my 120 pips profit on LONG USD/CAD... !!! I think we are getting close to the top of the right shoulder on CAD head and shoulder... price seems bouncing off the 365 ema... not taking any chances... took my profit here... when I see a real sign of topping out here... I plan to go short on this pair for ride down on Right side of shoulder !!!

+ 113 pips on yesterday's PB AUD/USD... can it keep going??? Oh I sure do hope so... but so seldom are the forex Gods on my side !!! PT here is .8000

I am liking trading the AUD/USD more and more !!
  • #5,673
  • Aug 28, 2007 5:21pm Aug 28, 2007 5:21pm
Quoting Tiki Trader
OK I took my 120 pips profit on LONG USD/CAD... !!! I think we are getting close to the top of the right shoulder on CAD head and shoulder... price seems bouncing off the 365 ema... not taking any chances... took my profit here... when I see a real sign of topping out here... I plan to go short on this pair for ride down on Right side of shoulder !!!

+ 113 pips on yesterday's PB AUD/USD... can it keep going??? Oh I sure do hope so... but so seldom are the forex Gods on my side !!! PT here is .8000

I am liking trading the AUD/USD more and more !!
Nice going Tiki!
  • #5,674
  • Aug 28, 2007 6:37pm Aug 28, 2007 6:37pm
the newblette decrees: james16 methodology is awsum.


+200 pips. 3 trades. 1.5 weeks. sniper in bush.
"Please sir, may I have some more pips?"
  • #5,675
  • Aug 28, 2007 6:45pm Aug 28, 2007 6:45pm
Quoting Tiki Trader
OK I took my 120 pips profit on LONG USD/CAD... !!!

+ 113 pips on yesterday's PB AUD/USD... can it keep going???
In these conditions it's a good idea to live up to "let your profits run" instead of cutting them without a reason. I took a small amount of profit but held over 60% on USDCAD myself as I see the USD breaking out again. We could be in for more of a surprise than many thought perhaps. It will be an interesting Asia indeed.
Trust price. Know yourself.
  • #5,676
  • Aug 28, 2007 7:06pm Aug 28, 2007 7:06pm
Quoting SeekingLight
By now / at the current phase of trading I'd rather risk the handful of pips I could have had NOW rather than miss out being in the next big snowball down when I had a great entry.

It is still devilishly hard to do however, but I am trying my best. Takes a lot of confidence and faith though, and I am still a poor wavering soul a lot of times
Hey SL,

This is so with my thinking. I am willing to give up small winners that will turn into small losers for the chance to join you on the snowball.

I have had a few inquires from people regarding my PIN score card most appear to think that because i have only a 50%-60% strike rate that PIN trading is overrated/or i am crap at it. Glad i read "TYWTFF" and "Trading in the Zone". Has helped me to see the fallacy of always having to win/be right. Now i just require my winners to outweigh my losers.

Enjoy
Ademac
  • #5,677
  • Aug 28, 2007 7:24pm Aug 28, 2007 7:24pm
Quoting SeekingLight
In these conditions it's a good idea to live up to "let your profits run" instead of cutting them without a reason. I took a small amount of profit but held over 60% on USDCAD myself as I see the USD breaking out again. We could be in for more of a surprise than many thought perhaps. It will be an interesting Asia indeed.
I agree with you completely except in this case I only had the one position and could not close part of it out... and after my losses in the last couple of days ( which I have conveniently not mentioned here ) I did not want to take the chance... I saw the price bounce there a bit at the ema... I fully expected cad would still go up a bit to reach top of shoulder... but I am very often wrong. Especially when I am winning !!!

So I took my money and ran !!!!
  • #5,678
  • Aug 28, 2007 7:56pm Aug 28, 2007 7:56pm
Also noticing on my Alpari MT4 and my MIG MT4... there is almost a 30 pip difference between the 365 ema on this pair !!!
  • #5,679
  • Aug 29, 2007 2:00am Aug 29, 2007 2:00am
how about;

GBP\CHF, pin bar from 2 days ago. On 8 hour I see very recent DHLC. Pin bar goes thru 2 fib retraces, at 38% and 50%.

I'm demo'ing it.
"Please sir, may I have some more pips?"
  • #5,680
  • Aug 29, 2007 7:07am Aug 29, 2007 7:07am
Quoting SeekingLight
Guys, I need your help.

I need you to check out this thread
http://forexfactory.com/showthread.php?t=44435

and vote for what you believe is best. Please also state your opinion in text if got the time.
It's about the new way charts are only thumbnailed instead of shown directly and I want the old way back.

I have had major headaches not being able to see my own posted charts directly in my own journal and Merlin said that if other people agree that the old way of viewing charts directly was better, he'd change it back.

I also believe that the old way of displaying charts is a lot better for posting them here and being able to read both the post content explaining what's on the chart WHILE seeing the chart AT THE SAME TIME, TOO.
Without having only a thumbnail.

So please take a look and if you liked the old way better, too, vote!

Thanks!
Hi Seeking, I am all for the old way and voted so. I agree that the "thumb nailed" charts are a "pain" and take away from the ease of the forum.
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Hamadamin