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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

  • #8,021
  • Dec 4, 2007 7:02pm Dec 4, 2007 7:02pm
Quoting SeekingLight
That's what I thought originally, too.

Later on I realized I was simply trying to see setups everywhere and taking anything anywhere. It took me a while to realize that just because a bar looks like something mentioned here doesn't make it a good setup.

I think what is crucial is figuring out what factors contribute to setups that worked out and then looking for them in the here and now.
Support and resistance plays a big role imho.

That and not forcing setups onto charts when things aren't as crystal clear as they can get / most ideal. If I had a pip for every neutral bar that's been called a pin bar or every traffic clustered PB or every "4h IB" etc pp...



Well you won't get good at anything (sports, art, music, anything in life) if you throw in the towel after a short while already

The most detrimental thing for me was to keep looking, trying, stopping, moving on, repeating the same system hopping over and again. Leads nowhere.
Not talking about throwing in the towel, just wondering if i can make this more mechanical. I will keep fumbling. Yes you are right about hopping from system to system, won't get anywhere that way. Probably come back here in a couple of years much more dejected. I do force setups since i only look at forex long term, have not found a legit platform that i can trade other things (that will take my small $ like forex). Thx for your thoughts.
  • #8,022
  • Dec 4, 2007 7:03pm Dec 4, 2007 7:03pm
Quoting coolshades
i am not a mature trader.i am a newbie. the word trader is a misnomer for most of us. to prove how bad i am, i have had a margin call on one account. since sept i started focusing on pa, have been consistently and successfully trading 4 PAs

  1. pin bars
  2. beovb
  3. buovb
  4. dbhlc and dblhc

i didnt read the whole j16 thread. i read the first 10 pages. i follow very few specific posters like mqb and ademac. i used to trade a variety of systems right from fozzy.. i have deleted all indicators now, and only look at these four set ups. i am not doing anything different to whats in those set ups mentioned in the few charts posted at the start of j16.

so far i have been successful in the last 3 months. yes the trending market has helped, but i can only trade what the market throws at me.

i am confident in pa.

i have learnt to ignore the 'noise' on these ff, and believe me, theres lots of it.

hope that helps in whatever way, to whoever.

I respect your progress, what sort of TF you trading?
  • #8,023
  • Dec 4, 2007 7:09pm Dec 4, 2007 7:09pm
Quoting Philww
Man, your name looks all too familiar and reminds me of another forum that I'd like to forget! Could be mistaken though.

Just to add on to what Seeking said. James constantly reiterated how important it is to be patient and wait for the best setups. Not just good setups but the best. I think an important thing to realize here is that James trades everything under the sun, of which forex is just a part, so he gets a lot of opportunities. If you're not trading a lot of different instruments and also if you're sticking to higher time frames then the setups are much fewer and farther btwn and then the danger is much greater that you will take less than ideal setups or you'll start forcing them. Or you'll be so happy to finally see a pin that you'll forget it's in traffic. Something to keep in mind.
I wish you were mistaken. Well at least i am in control of losing my own money now!

Yeah i was nailed on the recent daily pin on EUR/USD, very stupid of me. Pin was in traffice and did not even break and i was already placing orders.... I see to few of them. Do you trade anything else besides FX? All the commodity platforms that take small money come from Russia or other places i don't really trust.
  • #8,024
  • Dec 4, 2007 8:48pm Dec 4, 2007 8:48pm
EURCAD

a Daily PA would make me close my position in this long trade if it happens in this area - kinda ppz, weekly Ema,and also because somewhen it will have to retrace and i want to be in it with a larger equity..(as if i have 100K+) just thinking like that..

would like to see posts on this one.
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  • #8,025
  • Dec 4, 2007 11:03pm Dec 4, 2007 11:03pm
Quoting raczekfx
We've got SOME daily bar today...
Price will most likely continue in the same direction till 1.6560/1.66 before we see a pullback imo..

p.s. we are not far from weekly resistance though...
Well,... stopped 12ps short of 1.66...
Let's see if we can push it down to and reverse at 1.6430...
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  • #8,026
  • Dec 5, 2007 1:55am Dec 5, 2007 1:55am
daily and weekly only

Quoting saskgui
I respect your progress, what sort of TF you trading?
  • #8,027
  • Dec 5, 2007 2:27am Dec 5, 2007 2:27am
Quoting raczekfx
Well,... stopped 12ps short of 1.66...
Let's see if we can push it down to and reverse at 1.6430...
I'd rather see a merciless smashdown into the depths of hell *devil*

Given the fierceness of the last 2 London open burnouts on the CHF pairs I feel something is up...

2.25 GBPCHF and 1.6 EURCHF eventually would be nice
But I have no idea if without another gasp in the stock market that's doable..either way, I'd like to move past 1.6430 which I know you're looking to buy buy buy and on down down down ;p
Trust price. Know yourself.
  • #8,028
  • Dec 5, 2007 6:16am Dec 5, 2007 6:16am
Quoting coolshades
i have been consistently and successfully trading 4 PAs

  1. pin bars
  2. beovb
  3. buovb
  4. dbhlc and dblhc

i used to trade a variety of systems right from fozzy..


.

what do beovb, buovb and dbhlc and dblhc mean ?

i thought fozzy is very highly rated and widely praised ?
  • #8,029
  • Dec 5, 2007 6:30am Dec 5, 2007 6:30am
Quoting findcount
what do beovb, buovb and dbhlc and dblhc mean ?

i thought fozzy is very highly rated and widely praised ?
I don't know about beovb & buovb

But dbhlc & dblhc are Double High Low Close & Double Low High Close.

Search this thread for them as they explain it far better than I could & I don't know where abouts & what page they are. I have found them before by just searching on dbhlc.

I will myself search for the beovb's.
Le singe est dans l'arbre
  • #8,030
  • Dec 5, 2007 6:32am Dec 5, 2007 6:32am
BUOB and BEOB

Bullish outside bar and Bearlish outside bar....
  • #8,031
  • Dec 5, 2007 7:00am Dec 5, 2007 7:00am
Quoting findcount
what do beovb, buovb and dbhlc and dblhc mean ?

i thought fozzy is very highly rated and widely praised ?
Hi findcount,
the best thing to do is read the thread through thoroughly, from page 1. You wont be sorry. Fozzy is also very highly rated, but its not discussed on J16, Jim only follows PA. All of the setups you have mentioned are discussed at length in this thread, but its really best you start and keep reading until you understand them..good luck, Raz
Never say never.
  • #8,032
  • Dec 5, 2007 7:35am Dec 5, 2007 7:35am
Quoting razldazl
Hi findcount,
the best thing to do is read the thread through thoroughly, from page 1. You wont be sorry. Fozzy is also very highly rated, but its not discussed on J16, Jim only follows PA. All of the setups you have mentioned are discussed at length in this thread, but its really best you start and keep reading until you understand them..good luck, Raz
many thanks..........i read the first few TENS of this thread but it's up to over 500 pages now !

it's like the 'War and Peace' thread of FF now..........my eyes will go Fozzy before i can finish the thread.........

i hope you guys don't think i'm too lazy to read but my eyes get tired very quickly....more so when watching the screen.........
  • #8,033
  • Dec 5, 2007 7:49am Dec 5, 2007 7:49am
I agree that somewhere here, perhaps at the first page, there should be a discription of the basic PA set-ups and how they are traded... I was unable for a very long time to get anywhere in this thread because it is so long, and there is no original discription of what is going on or what it is all about or how to trade PA.... I would have come in here and stayed many months earlier if it were not for that...

Quoting findcount
many thanks..........i read the first few TENS of this thread but it's up to over 500 pages now !

it's like the 'War and Peace' thread of FF now..........my eyes will go Fozzy before i can finish the thread.........

i hope you guys don't think i'm too lazy to read but my eyes get tired very quickly....more so when watching the screen.........
  • #8,034
  • Dec 5, 2007 7:54am Dec 5, 2007 7:54am
Quoting findcount

it's like the 'War and Peace' thread of FF now..........my eyes will go Fozzy before i can finish the thread.........

i hope you guys don't think i'm too lazy to read but my eyes get tired very quickly....more so when watching the screen.........
findcount.......

Read the e-book first, then skim the original thread and check-out my 4 hour chart Fozzy-style trading.

Successful Fozzy-style trading requires that a person make a decision about HOW they will apply the principles of this method and then faithfully stick with that strategy regardless of what the market does. Determination and patience are necessities. You have to trade like a robot!

I Fozzy trade everyday (as do many others) and it works!
  • #8,035
  • Dec 5, 2007 10:35am Dec 5, 2007 10:35am
Quoting SeekingLight
I'd rather see a merciless smashdown into the depths of hell *devil*

..
we have to have more patience....

dj is testing ppz again. It will be interesting to see what market will do next week if feds decide to cut rates by .50 again. Somehow, I don't think we'll shoot through the roof this time around if they cut....
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  • #8,036
  • Dec 5, 2007 10:40am Dec 5, 2007 10:40am
Quoting raczekfx
... this weekly BUOVB may also suggest upside potential.....
waiting for retrace....
buovb is working hard. it hasn't retraced past 38
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  • #8,037
  • Dec 5, 2007 11:12am Dec 5, 2007 11:12am
Quoting raczekfx
we have to have more patience....

dj is testing ppz again. It will be interesting to see what market will do next week if feds decide to cut rates by .50 again. Somehow, I don't think we'll shoot through the roof this time around if they cut....

What's completely screwed up is that GU GC GJ is dying nonetheless - even with stocks rallying their butts off.

Oh well, shrug and grin.
Trust price. Know yourself.
  • #8,038
  • Dec 5, 2007 11:46am Dec 5, 2007 11:46am
Quoting SeekingLight
What's completely screwed up is that GU GC GJ is dying nonetheless - even with stocks rallying their butts off.

Oh well, shrug and grin.
Seeking, One of the main reasons in my opinion for the recent pound weakness is a possible change in monetary policy could be coming. The BOE has become more dovish in recent months. I know that is more of a fundies outlook at it but big money follows monetary policy decisions. Just my 2 cents.......
  • #8,039
  • Dec 5, 2007 11:53am Dec 5, 2007 11:53am
Quoting Wall_Street
Seeking, One of the main reasons in my opinion for the recent pound weakness is a possible change in monetary policy could be coming. The BOE has become more dovish in recent months. I know that is more of a fundies outlook at it but big money follows monetary policy decisions. Just my 2 cents.......
Yea, I was wondering something along those lines, but nobody knows before it's released, no?

Well I expected the moves(wrote such in Sunday night's FXNotes summary for the week ahead), I'm just amazed at the fierceness and the utter disregard for levels I had expected to put up a fight on the way...

Then again I should read what I write more closely...I was expecting an impulsive/third wave

Quoting from_my_fxnotes
this reeks of at least a 1-2-3 move downwards, with us being in the 3 now.
Even the weak target is already 2.0335, [..top secret words..]. Below this is roughly 2.0030.
We basically covered almost 60+% of the move this morning alone! Scary

And if we take what we got on 1h / 4h as HNS then 2.0215ish should be the target of that in turn..

It smells like a lot of people are very, very scared. There's a sense of change in the air...almost like everyone is covering their butts and running for it

Cascading prices...snowballs rolling...question is what's gonna happen the next 2 days
Trust price. Know yourself.
  • #8,040
  • Dec 5, 2007 12:05pm Dec 5, 2007 12:05pm
Quoting saskgui
I wish you were mistaken. Well at least i am in control of losing my own money now!

Yeah i was nailed on the recent daily pin on EUR/USD, very stupid of me. Pin was in traffice and did not even break and i was already placing orders.... I see to few of them. Do you trade anything else besides FX? All the commodity platforms that take small money come from Russia or other places i don't really trust.

I "invest" in other instruments, but I don't actively trade anything else yet, I'd love to get into futures when and if time permits. I'm not sure what you mean by small money, but I have one forex account with MB Trading and I know their Global One account allows you to trade everything from one platform, stocks, options, futures etc. Reg account min is $1,000 and Margin account min is $2,000
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