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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

  • #9,181
  • Feb 19, 2008 3:12pm Feb 19, 2008 3:12pm
great stuff....i am glad that i found this thread...i am going to follow those requierments.........

I trully want be member in james16 but 129$ per month is too much for me...i am going to stay here for along time lets see what will happen i may join in the future.......

what are you doing in the group?....how do you learn?

Thanks
Shay
  • #9,182
  • Feb 19, 2008 3:45pm Feb 19, 2008 3:45pm
Quoting Pat Ciceroni
Hi guys, an alternative way to have traded the CAD weakness we have seen since last Friday was via a nice little PA set up in CAD/YEN. This cross has struggled at the strong ppz resistance 107.90-109.40, and in so doing formed a bearish rising wedge pattern. Last Friday's PA saw a BEOB, followed by an IB this Monday. Today's action saw both these triggered and the bottom TL of the wedge broken.

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Hi,

to create dbhlc the diffrence between the high/low should be no more than 2-3 pips is this rule change in others time frames?

Thanks
Shay
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  • #9,183
  • Feb 19, 2008 4:19pm Feb 19, 2008 4:19pm
Hi Shay,

The PA I showed is of a BEOB, followed by an IB, and I sold on the break of the low of the IB. I don't believe that the last two bars constitute a DBHLC, as you rightly point out, their highs are a little too far apart. They are also in traffic rather than at a swing high or low.

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  • #9,184
  • Feb 19, 2008 4:28pm Feb 19, 2008 4:28pm
thanx!!!
  • #9,185
  • Feb 19, 2008 7:13pm Feb 19, 2008 7:13pm
Quoting shayb
great stuff....i am glad that i found this thread...i am going to follow those requierments.........

I trully want be member in james16 but 129$ per month is too much for me...i am going to stay here for along time lets see what will happen i may join in the future.......

what are you doing in the group?....how do you learn?

Thanks
Shay
Shay, one great highlight that I like personally is the live chat sessions. We are able to have live "classroom" seminars via Skype and screen share software. James, as well as the others, teach their particular style and techniques live. Of course we also have plenty of trading journals and help threads that we are welcome to participate in. This free thread at Forex Factory is a great place to begin and I would encourage anyone interested in the private side to start here first.
  • #9,186
  • Feb 19, 2008 7:40pm Feb 19, 2008 7:40pm
still in the zone... are we going to get a break out in europe..?
it will probably be a violent one..
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  • #9,187
  • Feb 19, 2008 7:56pm Feb 19, 2008 7:56pm
LOL...gotta funny story...I signed up for some 4x signals awhile back..I cancelled because he was getting stopped out on all the trades..even though I cancelled he insists on sending me his signals...so he sent me a gy trade tonight...I want to send him the link to james 16 thread!!! I banked 211 gy pips last night thanks to what I have learned here in less than 2 weeks! WOW...
  • #9,188
  • Feb 19, 2008 8:04pm Feb 19, 2008 8:04pm
Quoting KrazyD
LOL...gotta funny story...I signed up for some 4x signals awhile back..I cancelled because he was getting stopped out on all the trades..even though I cancelled he insists on sending me his signals...so he sent me a gy trade tonight...I want to send him the link to james 16 thread!!! I banked 211 gy pips last night thanks to what I have learned here in less than 2 weeks! WOW...
You should tell him about your wins then ask him if he wants to subscribe to YOUR signals and charge him double to make back the money you lost
  • #9,189
  • Feb 19, 2008 8:18pm Feb 19, 2008 8:18pm
Quoting zoopy
You should tell him about your wins then ask him if he wants to subscribe to YOUR signals and charge him double to make back the money you lost
  • #9,190
  • Feb 19, 2008 8:53pm Feb 19, 2008 8:53pm
and my signal guy is stopped out!!! Had I not known any better, perhaps I might have gone short gy....but up 100 pips gy...hope you all are too
  • #9,191
  • Feb 19, 2008 8:57pm Feb 19, 2008 8:57pm
Quoting KrazyD
and my signal guy is stopped out!!! Had I not known any better, perhaps I might have gone short gy....but up 100 pips gy...hope you all are too
Maybe you're suppose to take the opposite trades of his signal? lol
Nice trading
  • #9,192
  • Feb 19, 2008 9:15pm Feb 19, 2008 9:15pm
Quoting zoopy
Maybe you're suppose to take the opposite trades of his signal? lol
Nice trading
thanks zoopy! I really feel like this guy needs this thread!! I am sure his other subscribers are not happy! This price action has literally changed my trading in less than 2 weeks..I wished I would have known about it when I had a full account! I enjoy being able to take a confident trade...
  • #9,193
  • Edited 1:52am Feb 20, 2008 1:40am | Edited 1:52am
Quoting KrazyD
Thanks Mike for your reply..
And, to whomever might reply, I've been going through james16 thread now..
How is the PF going? I did a terribly stupid regretful costly mistake and joined forexbastards in July...blew through a $5000 account on top of paying them $250 a month...I got out within 3 months...I am still experiencing trading trauma and side effects from the ordeal!!! I have been looking for personal coaching, mentoring etc...but am afraid of getting taken again! Any information is welcome by me...I knowthat just with this forum alone in the last few days the info I have learned is more than I ever had imagined..
Thanks
Hey

Hang in there.

I still a newbie even though i get to know abt FX ard 2yrs ago. I spend 1 yr lost in demo and indicators . Then early last yr got back to basic and learn stuff from Philp Nel from 4hr MACD, then late last yr i decided to start trading Daily only and got rid of all indicators and even stop using 4hr MACD method too. So i'm fully naked now. So far my account is postive as i dun trade frequently. Mostly a few trades per week. Now i trying to fight the monster within myself as i kinda of know my PA reading works majority of the time.

Here's my personal experience:
I am lucky, i paid for a FX course ard USD700, 2 days. To its credit, it teaches basic candle stick patterns combined with RSI (daily) and tries explaining what price action is. I didnt get understand what price action is then but the candle pattern is useful. Still considering that i can learn candlestick FREE on the web, USD700 is costly. On the brightside, i am introduced to the world of FX.

What i want to warn pple of is DONT believe in any single proclaims of profitable systems even if it is profitable. PA beats anything hands dwn. Coz YOU are the system. The brain.

Dont Believe in any BOOKS esp LionsXXX. I bought it and i tink its crap.

My suggestions.

1) Go thru' James 16. Great stuff here. I have yet to join the PF but the public stuff is good enough to get you started.

2) Hang ard FF and get to know who are the REAL traders. Read their posts. U learn more than anything u paid for those craps out there.

3) Spend time looking at the charts, see how price react today and tomorrow...look at the price rejection and how it reacts...this really took alot of time for me to "see".

4) Read books recommended frequently here. E.g. Jesse Livermore's book. I got a "aha" moment in the midst of reading .

5) Practise good MM. Capital preservation.

It's a long difficult road ahead...full of frustrations and still is for me. I gg to keep myself afloat in this sea of sharks and dangers.

Wish all newbies like me to be successful eventually.

cheers

P.s. forgive for any grammar or spelling mistakes, english not my mother tongue.
  • #9,194
  • Feb 20, 2008 3:07am Feb 20, 2008 3:07am
Hello,

Are these valid PBs for Gb/Chf on 4H and Nzd/Usd on Daily?

Thank you.
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We leave no soldier behind.
  • #9,195
  • Feb 20, 2008 3:37am Feb 20, 2008 3:37am
pin bar 4h gbpjpy....
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Financial Freedom
  • #9,196
  • Feb 20, 2008 3:45am Feb 20, 2008 3:45am
Hi g,

nzdusd daily bar: this does not qualify for a valid pin as the close of the pin did not finish under the left eye(bar to the left of pin). For it to be a valid pin the open and close of the pin must be inside the left eye.
4hr gbpchf bar: personally i did not get this on my feed(odl MT4 GMT) but by the looks of your chart it was tradable. It also bounced of [email protected].
You probably would not have gotten filled as the bar after the pin did not move up past the pin bar high with momentum.The thing to look for after the pin has been formed is a good strong follow through on the bar after the pin.
Hope this helps.

Cheers
Steve
  • #9,197
  • Feb 20, 2008 4:01am Feb 20, 2008 4:01am
@gagiul.

below is an example of a good tradable pin found on the gbpjpy daily.
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  • #9,198
  • Feb 20, 2008 4:17am Feb 20, 2008 4:17am
Quoting skfx
Hi g,

nzdusd daily bar: this does not qualify for a valid pin as the close of the pin did not finish under the left eye(bar to the left of pin). For it to be a valid pin the open and close of the pin must be inside the left eye.
4hr gbpchf bar: personally i did not get this on my feed(odl MT4 GMT) but by the looks of your chart it was tradable. It also bounced of [email protected].
You probably would not have gotten filled as the bar after the pin did not move up past the pin bar high with momentum.The thing to look for after the pin has been formed is a good strong follow through on the bar after the pin.
Hope this helps.

Cheers
Steve
thanx a lot for your help. I didnt get filled on Gbp/Chf yet, but Im waiting.
We leave no soldier behind.
  • #9,199
  • Feb 20, 2008 4:50am Feb 20, 2008 4:50am
No worries g.

Just something extra, personally i like my order filled the VERY NEXT bar after the pin bar.It all has to do with momentum.If you get a pin bar and then have to wait around a few more bars after the pin to be filled then momentum has likely weakened and i will usually delete the order and start the process again.
This is just my opinion based on my experiences playing PB's.I like it to pin and the next bar to take off.
Just test and see what works best for you.
Take care.

Cheers
Steve.
  • #9,200
  • Feb 20, 2008 6:04am Feb 20, 2008 6:04am
Hi Guys

LOOK AT THE PB IN EUR/AUD DAILY CHART.....RIGHT BELOW SUPPORT THAT BECAME RESISTANCE.

IS IT OK TO GO LONG?
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