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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

  • #10,521
  • May 2, 2008 11:55am May 2, 2008 11:55am
thought for next week.
dj futures..
what it means????
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  • #10,522
  • May 2, 2008 11:56am May 2, 2008 11:56am
Quoting tenantro
I spent 9hrs today on this thread, read all James's posts, made a summary and saved all the charts he posted.

I did this for myself, but I decided to post it here as well for other people interested in his method.Not to brag, but probably very few people have the patience or time to do this for 9hrs in a row

Anyway...this could save you a lot of time and help you decide faster if you want to sign up for the private forum, which I'm currently trying to determine as well.

Hopefully I've managed to accurately summarize the methods he presented so far.If anyone spots anything wrong with my pdf, let me know and I'll correct it and then repost it.

So, to sum up, I'm attaching a pdf with a very concise summary of James's posts so far and a zip file containing all the charts he uploaded so far.

The zip file seems to be too large so I uploaded to an external site instead.
Just click on Request Ticket and then on Download to get the file.

http://ifile.it/tas1jvb
Thanks for doing all the work.
I appreciate the time you put into it.
  • #10,523
  • Edited 1:31pm May 2, 2008 12:10pm | Edited 1:31pm
Quoting HipsterPipster
I trust the ppz more than the candle formation. This is more of a, "high-wave, spinning top"=indecision, candle in my opinion. Daily we are consolidating or trapped between price 203-209 and I am not convinced we are going to change that today. I could, of course, be wrong.

Thx again for clearing up

My geppy short got triggered and i shorted the gpb/chf right away and will move my stop to BE as soon as it retraced to 2.0779.
EUR/USD got not triggered.
  • #10,524
  • May 2, 2008 12:14pm May 2, 2008 12:14pm
Quoting tenantro
I spent 9hrs today on this thread, read all James's posts, made a summary and saved all the charts he posted.
Thousand thanks ! my best wishes
  • #10,525
  • May 2, 2008 12:53pm May 2, 2008 12:53pm
Quoting rustyjeff
thought for next week.
dj futures..
what it means????
Yeah, I was paying attention to that also, oil up...
  • #10,526
  • May 2, 2008 1:06pm May 2, 2008 1:06pm
anyone thinking long eurgbp 4hr pinbar of the ema 365 also pin on the daily at support area looks a good set up same with eurusd.
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  • #10,527
  • May 2, 2008 1:10pm May 2, 2008 1:10pm
Quoting AidanPryde
Thousand thanks ! my best wishes
You are welcome, sorry probably should not have posted my trade, being it was more of a ppz trade with a confusing candle.
  • #10,528
  • May 2, 2008 1:26pm May 2, 2008 1:26pm
Quoting HipsterPipster
You are welcome, sorry probably should not have posted my trade, being it was more of a ppz trade with a confusing candle.
no problem ,i think the trade will play out good!

But u probably confused my answers but nonetheless thank you very much
  • #10,529
  • Edited 6:23pm May 2, 2008 1:29pm | Edited 6:23pm
Quoting woolley
anyone thinking long eurgbp 4hr pinbar of the ema 365 also pin on the daily at support area looks a good set up same with eurusd.

Yep i placed a buy stop @ @ the break of the pin..
also had one already @ EUR/USD..

thx for the wink wooley..would have missed that one *g*

EDIT: I cancel the one @ the eur/usd..thats not an pin..

eur/gpb is valid absolutely..@ yearly Resistance1 and PPZ
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  • #10,530
  • May 4, 2008 12:15am May 4, 2008 12:15am
This was very kind of you to do this, Thank you. I also have been reading and taking notes of all Jim has said. I am only on page 13, so I really do appreciate what you have done. I will continue to read along until I finish it.
But now I can just compare it to your work and add to it if need be.

Thanks!!



Quoting tenantro
I spent 9hrs today on this thread, read all James's posts, made a summary and saved all the charts he posted.

I did this for myself, but I decided to post it here as well for other people interested in his method.Not to brag, but probably very few people have the patience or time to do this for 9hrs in a row

Anyway...this could save you a lot of time and help you decide faster if you want to sign up for the private forum, which I'm currently trying to determine as well.

Hopefully I've managed to accurately summarize the methods he presented so far.If anyone spots anything wrong with my pdf, let me know and I'll correct it and then repost it.

So, to sum up, I'm attaching a pdf with a very concise summary of James's posts so far and a zip file containing all the charts he uploaded so far.

The zip file seems to be too large so I uploaded to an external site instead.
Just click on Request Ticket and then on Download to get the file.

http://ifile.it/tas1jvb
Thanks, Jonathan
  • #10,531
  • May 4, 2008 12:26am May 4, 2008 12:26am
Quoting exitand4getit
This was very kind of you to do this, Thank you. I also have been reading and taking notes of all Jim has said. I am only on page 13, so I really do appreciate what you have done. I will continue to read along until I finish it.
But now I can just compare it to your work and add to it if need be.

Thanks!!

Np mate, glad it's useful to you.There were some things I could not summarize, like very specific replies to a few questions regarding particular setups.Other than that, it should all be in there, except for a "ppz" thing which I didn't manage yet to figure out what it was, or if it was something significant.
  • #10,532
  • Edited 1:21pm May 4, 2008 3:50am | Edited 1:21pm
Here's my take on the GBP/JPY in a nutshell.

Weekly - DBLHC (yellow area). It is still in play from 3 weeks ago. It has retraced to the 50% twice in the last 2 weeks and Price closed above the 365ema. (also TBH week 4/13 & 4/27, 208.99 and 209.00 respectively)

Daily - Inside Bar (green area). Broke the top.

4 hour - Pin Bar (purple area). Pin Bar at recent highs (2 month Highs) and is at a PPZ (S/R levels).

So, if you go by the known fact that "Higher Time Frames Rule" like I go by, then we are heading upwards.

But (isn't there always a "But"), we could be retracing down again signaled by the 4 hour Pin Bar which is with the downtrend of the Weekly and Daily. Yet, the 4 hour trend is up.

A Price break (hard and strong) above the 4 hour Pin Bar looks good northwards on so many levels.

Jim

Update: Forgot to mention the break of the top of the Weekly Inside Bar too. Price tucked inside that weekly IB by a few pips. Still more uptrend potienal. (Gold area)
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Indicators show the past. Price Action "Indicates" the future.
  • #10,533
  • May 4, 2008 4:43am May 4, 2008 4:43am
Quoting jarroo
Here's my take on the GBP/JPY in a nutshell.
Nice jarroo... I was playing a similar move on the GBP/CHF last week. An upside break on the geppy looks good for a trade.
  • #10,534
  • May 4, 2008 5:05am May 4, 2008 5:05am
May I add,
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  • #10,535
  • May 4, 2008 1:18pm May 4, 2008 1:18pm
Quoting mbqb11
Just to expand,

If chf/jpy makes its move down, we can see we have another large area of support to look out for.

This is why IMO it is safer to watch for a break long as there is less resistance on the way up, as there is on the way down. I trail my stops, and when there is resistance I often get bumped out before I can catch a move(this is a personal thing).

But I think we can all see how keeping things simple is so important. This is not magic, this is just the phenomenon of support and resistance.

Watch these levels no matter which way you are looking to play

Mike
This comment from Mike, sure rang true on the Aud/Usd for me last week, trying to anticipate a short entry on the Weekly Pin Bar. Now we have 2 PBs.

Thanks Mike. Just letting you know, I'm paying attention.

Jim
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #10,536
  • May 4, 2008 1:51pm May 4, 2008 1:51pm
The AUDUSD weekly setup is tempting but the monthly still looks bullish (almost a monthly BUB for April). I may take a short but last months bar and indeed the general uptrend would make me personally cautious about holding for too long.
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  • #10,537
  • May 4, 2008 1:56pm May 4, 2008 1:56pm
Quoting fxprocessor
The AUDUSD weekly setup is tempting but the monthly still looks bullish (almost a monthly BUB for April). I may take a short but last months bar and indeed the general uptrend would make me personally cautious about holding for too long.
I guess a short off the Weekly Pins would just be a retracement of larger trend.

Thanks fxprocessor.
Indicators show the past. Price Action "Indicates" the future.
  • #10,538
  • Edited 2:00am May 5, 2008 1:42am | Edited 2:00am
Been studying all of this and this was a set up I watched on the 1 hour on Friday. Turned into a nice trade. Just studying charts and where the pin topped out was a area of resistance from 2 days before and a 4hour trend line. I know the nose should be longer, but was just my 1st live pin I watched and paper traded and yes I will be trading longer time frames but in studying set ups at times the 1 hour does show me the price paterns I'm wanting to study. Any thoughts on this and was I looking at it right
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  • #10,539
  • Edited 6:26am May 5, 2008 2:24am | Edited 6:26am
Quoting f4mnect
Been studying all of this and this was a set up I watched on the 1 hour on Friday. Turned into a nice trade. Just studying charts and where the pin topped out was a area of resistance from 2 days before. I know the nose should be longer, but was just my 1st live pin I watched and paper traded and yes I will be trading longer time frames but in studying set ups at times the 1 hour does show me the price paterns I'm wanting to study. Any thoughts on this and was I looking at it right

That was a nice Price Action setup. The nose looks fine to me. Easy for me to say since the Pin Bar worked. lol

Let's see what else. Pin Bar forms at a S/R level, below M4. Also Price was making relatively new highs for the week and the Pin Bar (candle) was at a trendline. Good.

When Price Action presents itself you want to look at other confluences to support your trade. New Highs, Ema's (there are many but the 150ema, 200ema and 365ema are very popular), Fibonacci levels, Support/Resistance pivots, Pivot Point Zones, Swing lows/highs, Trend Lines, Price Action on Higher Frames Times, etc.

You also want to look at other factors that do not support your trade. Which contradicts your short trade in this case. These can be from the same list above.

Friday was a big news day (NFP), so Price can be erratic. (Yet, it looks like PA showed the way, despite NFP. Interesting.)

Price Action on lower time frames does work, they just need a lot more confluences to be effective.

All in all, nice job f4.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,540
  • May 5, 2008 2:30am May 5, 2008 2:30am
Thank you very much, yes on friday with nfp. was not a trade I wanted to jump into, but was one I watched as it went down and that was a big help in slowly breaking my indicator habit lol. There still there, but I'm slowly walking away from them.
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