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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

  • #8,641
  • Jan 7, 2008 11:10am Jan 7, 2008 11:10am
Quoting raczekfx
They also mentioned, they wouldn't be surprised to see correction in Dow this year by 25-35%....
Well, if that happens we won't see 220 anytime soon...

Not really that much though, is it?
25% of 14k is barely 3500 points...I think stock markets have never really had a "real" bear market, ever..just corrections/dips..a "real" bear market would both last, trend and make continually new lows over several years preferably.

I think it's pretty amazing we really only know unidirectional movement due to the way we created and shaped our economies...everything keeps adjusting itself endlessly higher....inflation earnings profits taxes debt cycles..everything keeps moving on..
But I don't have near enough qualification to say anything about that stuff..I just trade them charts n bars
Trust price. Know yourself.
  • #8,642
  • Jan 7, 2008 11:50am Jan 7, 2008 11:50am
Quoting raczekfx
Of course it counts,... much more than that of jasdel's dude...

  • #8,643
  • Jan 7, 2008 12:11pm Jan 7, 2008 12:11pm
The day isn't over yet but looking at a DLHC on the daily chart. Looks like some resistance underneath. Any thoughts on this one if it closes this way?
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Life is too short to have anything but delusional notions about yourself.
  • #8,644
  • Jan 7, 2008 12:27pm Jan 7, 2008 12:27pm
Up looks good from here.
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  • #8,645
  • Edited 1:20pm Jan 7, 2008 1:03pm | Edited 1:20pm
Quoting hoss
The day isn't over yet but looking at a DLHC on the daily chart. Looks like some resistance underneath. Any thoughts on this one if it closes this way?
I'll post the same thing I posted when we hit 1.6350 and had a daily PB - I'll be looking to sell whatever rally + setup we get

Admittedly, it rallied 200 more pips last time than I expected

BUT I ended up being right looking for a sell, didn't I

(And sell I did)

What I'm trying to say is - while everything carryish is falling like a rock looking to buy any bounces or retracements to me is a very daring endeavour.

Not that we couldn't end all this any day now; and the point of all the reversal setups is to sorta reverse things and all - I just don't like the direction.

That, and depending on how creative one gets with the TLs we might just be rallying to retest the underside of a lost channel.

Nonetheless, in other circumstances and within an "intact" trend the setup itself might be more attractive.

Anyhow, I'm staying a carry trade miser.

(That 1.62 area looks tempting - and the EURxxx really desperately needs to equate the DJI descent more at some point...no? Unfair preference there over GBP..but we shall see)
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Trust price. Know yourself.
  • #8,646
  • Jan 7, 2008 3:50pm Jan 7, 2008 3:50pm
Quoting hoss
The day isn't over yet but looking at a DLHC on the daily chart. Looks like some resistance underneath. Any thoughts on this one if it closes this way?
I always look at xxx/chf crosses before trading yen.
Simply saying: xxx/chfs are leaders and xx/jpys are followers..

p.s. raczekfx on steroids..; i'm posting way too much lately... ok. I'll shut up now....
  • #8,647
  • Jan 7, 2008 5:21pm Jan 7, 2008 5:21pm
Dang man... what am I on then....???

I thought those were B-12 shots I was getting... !!!

Quoting raczekfx
I always look at xxx/chf crosses before trading yen.
Simply saying: xxx/chfs are leaders and xx/jpys are followers..

p.s. raczekfx on steroids..; i'm posting way too much lately... ok. I'll shut up now....
  • #8,648
  • Jan 7, 2008 6:12pm Jan 7, 2008 6:12pm
Here's a tempting little daily pin. with the trend.
stong fundies for the nzd as well.
thoughts / comments !!
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  • #8,649
  • Jan 7, 2008 6:36pm Jan 7, 2008 6:36pm
Quoting rustyjeff
Here's a tempting little daily pin. with the trend.
stong fundies for the nzd as well.
thoughts / comments !!
I will throw my comments in, some of us were chatting about this in the chatroom.

I don't like to get involved in these pinbars on the daily timeframe, because you have to finesse your exits a lot more. I find it very difficult to play in a market that is moving sideways like this(although near the bottom of the TL. The bar itself isn't all that impressive. Would like to see a much longer nose. Overall I just find being in a market that is this choppy makes it much harder to hold for me personally.

If anything I would maybe use that as direction on the smaller timeframes for an intraday trade.

Just my view of course

Mike
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  • #8,650
  • Jan 7, 2008 7:06pm Jan 7, 2008 7:06pm
Mike

Just curious why you ignored the June 13th pin bar on your tutorial video in the guest area? Did you not like it or just have enough of other examples?
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  • #8,651
  • Jan 7, 2008 7:36pm Jan 7, 2008 7:36pm
Quoting saskgui
Mike

Just curious why you ignored the June 13th pin bar on your tutorial video in the guest area? Did you not like it or just have enough of other examples?
I was only picking some recent examples out at the time. I wasn't going through and picking out everyone(just the ones that fit on the chart at the time). I wanted to get a wide range of examples that I see people calling pinbars.

That is an example of a good pinbar


Mike
  • #8,652
  • Jan 7, 2008 7:55pm Jan 7, 2008 7:55pm
By a good pin bar you mean a pin bar that you would trade i think.

Just wanted to make sure you were not rejecting if for some reason.
  • #8,653
  • Jan 7, 2008 7:57pm Jan 7, 2008 7:57pm
Quoting saskgui
By a good pin bar you mean a pin bar that you would trade i think.

Just wanted to make sure you were not rejecting if for some reason.
yep it meets all my criteria
  • #8,654
  • Jan 7, 2008 8:31pm Jan 7, 2008 8:31pm
Quoting mbqb11
I will throw my comments in, some of us were chatting about this in the chatroom.

I don't like to get involved in these pinbars on the daily timeframe, because you have to finesse your exits a lot more. I find it very difficult to play in a market that is moving sideways like this(although near the bottom of the TL. The bar itself isn't all that impressive. Would like to see a much longer nose. Overall I just find being in a market that is this choppy makes it much harder to hold for me personally.

If anything I would maybe use that as direction on the smaller timeframes for an intraday trade.

Just my view of course

Mike
Hi Mike,

Understand you don't like to trade pin bars in sideway, could you show how you trade breakout . Thankyou.
  • #8,655
  • Jan 7, 2008 8:52pm Jan 7, 2008 8:52pm
Quoting nico28
Hi Mike,

Understand you don't like to trade pin bars in sideway, could you show how you trade breakout . Thankyou.
Hey Nico,

I PMed you as well. I will give you an example of how I trade breakouts, but for those that are in the James16 PF, will know it is a large topic so here is an example of a pair I am looking at.


The AUD/NZD has put in a sharp move down. Price has now entered into a retracement channel. So After this channel, breaks and retests the channel, we can look for confirming price action .
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  • #8,656
  • Jan 8, 2008 2:52am Jan 8, 2008 2:52am
Hi James,

Seem me too late enter this Forex Market... You already post many thing and seem me really have to study really hard and read all your thread.. But you chart really cool.

Btw, could you advise where to get Mr.Todd Michell book or program ? since I'm in Indonesia.

Also please advise how to determine the price action ? since I see many of your chart and start to confuse

Do you trade Forex in 5 min chart ?

could you please the step before enter the trade ?

Pls help ... Thanks a lot for your sharing

Regards,
Monalisa

Quoting james16
wow trinity, a baby alarm and your seventy five. i got a real kick out of that. mr. mitchells program is tradable in any market on any time frame even though the core is daytrading. he offers a complete refund if not satisfied. trailing stops are part of his program. it is packed with good info but i would be remiss if i did not tell you that if you are new to trading it will take you a while to take in, understand and implement the whole course. jim
  • #8,657
  • Jan 8, 2008 4:20am Jan 8, 2008 4:20am
Short scalp on uj off of pzz, e-109.68
  • #8,658
  • Jan 8, 2008 4:30am Jan 8, 2008 4:30am
Just start to read from the 1st page..u'll find tons of VERY usefull thing here.If you just look the chart only that attached here..yes you maybe confuse..by reading all..u'll find it become a nice story..just dont become lazy before u read (by seeing the amount of page)..Voyage..it is

Quoting pipfirst
Hi James,

Seem me too late enter this Forex Market... You already post many thing and seem me really have to study really hard and read all your thread.. But you chart really cool.

Btw, could you advise where to get Mr.Todd Michell book or program ? since I'm in Indonesia.

Also please advise how to determine the price action ? since I see many of your chart and start to confuse

Do you trade Forex in 5 min chart ?

could you please the step before enter the trade ?

Pls help ... Thanks a lot for your sharing

Regards,
Monalisa
  • #8,659
  • Edited 9:24am Jan 8, 2008 8:22am | Edited 9:24am
G/U has stayed at daily EMA365 for a very long time, any thought?
  • #8,660
  • Jan 8, 2008 9:55am Jan 8, 2008 9:55am
Thinking out loud. Another way of looking at the current Market.

Nothing to do with PB..just simple Higher high and lower low...maybe EUR is getting ready for an adjustment like Cable???

Any thoughts?
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