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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

  • #2,621
  • Feb 13, 2007 2:52pm Feb 13, 2007 2:52pm
was wondering how it is different on the inside Private forum. (james 16) than the public forum.
I notice quite a few traders post trades for others to see or critique ahead of time and different opinions are posted here which I like. the last forex group I was in had like 50 members and only 3-4 trades were posted a week and hardly anybody answered your questions?
  • #2,622
  • Feb 13, 2007 3:03pm Feb 13, 2007 3:03pm
Quoting Jimmywa
was wondering how it is different on the inside Private forum. (james 16) than the public forum.
I notice quite a few traders post trades for others to see or critique ahead of time and different opinions are posted here which I like. the last forex group I was in had like 50 members and only 3-4 trades were posted a week and hardly anybody answered your questions?
I wouldn't join the private forum to look for trade calls. The private forum is where you will learn to be independent and trade price, learn MM and psychology, and learn dialists knife. Questions will be answered within hours(minutes even ) from other members, and James, Fiji, and Dialist are always as fast as they can be(they get a lot of questions). Quite a few people keep journals, but again I wouldn't sign up looking for trade calls. I would sign up so you can do all this stuff on your own!

If you have any more questions about what is inside shoot me a PM.

Best,
Mike
  • #2,623
  • Feb 13, 2007 4:37pm Feb 13, 2007 4:37pm
Quoting habeeb
Hi Billser,
Here's the link to the latest update of the indicator.
http://www.forexfactory.com/showpost...2&postcount=39

Take Care
Habeeb
As Alway Habeeb and everyone.....thanks for the quick response
It's All About Attitude ...
  • #2,624
  • Feb 13, 2007 6:09pm Feb 13, 2007 6:09pm
we have what looks like a pin forming on the GBP 4 hr chart I tried to wait for confirmation but just could not help myself short 1.9472
  • #2,625
  • Feb 13, 2007 6:45pm Feb 13, 2007 6:45pm
Any thoughts on this set up.

Is the pink lines considered diverganeces and if so what about the 365 ema.

What would you do with this set up...if anything.

Thank you.
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It's All About Attitude ...
  • #2,626
  • Feb 13, 2007 7:08pm Feb 13, 2007 7:08pm
newbie answer here,
that is divergence,
but i personally draw the tl on the price on the lows of the candles in this
situation, not on the tops.
As far as trade setup, i dont' take any here.

westie

Quoting billser
Any thoughts on this set up.

Is the pink lines considered diverganeces and if so what about the 365 ema.

What would you do with this set up...if anything.

Thank you.
  • #2,627
  • Feb 13, 2007 8:16pm Feb 13, 2007 8:16pm
Hello everyone, I love u all dude...Spread the love.
  • #2,628
  • Feb 13, 2007 9:46pm Feb 13, 2007 9:46pm

I DID IT


177 Pages
2650 Posts
Hours of reading and studying charts
Meeting new people
Learning a huge amount of valueable information
Priceless........
Next step my taxes then the PF Group

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  • #2,629
  • Feb 14, 2007 6:55am Feb 14, 2007 6:55am
Hi,
i went though a good number of posts here and see that james16 and others mainly use bar charting....I am beginner so i am happy that i can understand one, and alas that is candles... I was thinking about joining the james16 private forum but this discourages me a bit... Any info about what are those guys using there?
Maybe, i am just not well educated in fx but what do you think which one is better suited for short term trading? Or is there anybody who is using both??
Thank you for your help in advance.
All the best, xrbor.
  • #2,630
  • Edited 7:24am Feb 14, 2007 7:10am | Edited 7:24am
Quoting xrbor
Hi,
i went though a good number of posts here and see that james16 and others mainly use bar charting....I am beginner so i am happy that i can understand one, and alas that is candles... I was thinking about joining the james16 private forum but this discourages me a bit... Any info about what are those guys using there?
Maybe, i am just not well educated in fx but what do you think which one is better suited for short term trading? Or is there anybody who is using both??
Thank you for your help in advance.
All the best, xrbor.
Hey xrbor,

Bars and candles are the same thing. I orginally used candles like yourself, but after spending some time using bar charts I found it easier on my eyes. Many people inside the PF still use candlesticks. But candle and bar charts are both telling you the same thing. It is apersonal preference. But James does use Bar charts in his teachings, when I joined orginally I used candles and after a few weeks inside, I switched to bars. Many have not though.

Hope this helps,
Mike
  • #2,631
  • Feb 14, 2007 7:47am Feb 14, 2007 7:47am
Quoting xrbor
Hi,
i went though a good number of posts here and see that james16 and others mainly use bar charting....I am beginner so i am happy that i can understand one, and alas that is candles... I was thinking about joining the james16 private forum but this discourages me a bit... Any info about what are those guys using there?
Maybe, i am just not well educated in fx but what do you think which one is better suited for short term trading? Or is there anybody who is using both??
Thank you for your help in advance.
All the best, xrbor.
Hi xrbor,

I agree basically with Mike. Also what he said about James using bars is true.
I started with candles, too, then switched to bars and realized they helped me see things better after a while. I still occasionally toggle when I want to look for a candlestick pattern, but really I'm with bars now. It doesn't take long to adjust. Humans are adaptable
So it's not really a problem if you ask me.

Best regards,

SeekingLight
Trust price. Know yourself.
  • #2,632
  • Feb 14, 2007 8:04am Feb 14, 2007 8:04am
Hi,
Thanks for your kind answers! Ok, so i knew too that they are basically, just somehow the visuals differ. But wait, what about the different chart patterns?? i am slowly learning all these nicely sounding candle formations like bearish harami,bullish engulfing,etc. Does bar charting have the equivalent patterns? Even if bar charts don't have such mystical names, there must be very similar concepts...
All the best, xrbor.
  • #2,633
  • Feb 14, 2007 8:14am Feb 14, 2007 8:14am
Quoting xrbor
Hi,
Thanks for your kind answers! Ok, so i knew too that they are basically, just somehow the visuals differ. But wait, what about the different chart patterns?? i am slowly learning all these nicely sounding candle formations like bearish harami,bullish engulfing,etc. Does bar charting have the equivalent patterns? Even if bar charts don't have such mystical names, there must be very similar concepts...
All the best, xrbor.

Yep a pinbar on a bar chart is just a hammer(i think!? haah) on a candle. It is all the same stuff, just different names. I am sure you recognize the name Habeeb after going through this thread. He uses candles and he does very very well.

M
  • #2,634
  • Feb 14, 2007 8:41am Feb 14, 2007 8:41am
Hi,
Can you recommend some free stuff on bar chart terms and different patterns? It would be good to learn the basics if i want to switch... Concerning candles, it helps me a lot to recognize these candle patterns...
Again thanks very much, xrbor.
  • #2,635
  • Edited 9:11am Feb 14, 2007 8:50am | Edited 9:11am
Quoting xrbor
Hi,
Can you recommend some free stuff on bar chart terms and different patterns? It would be good to learn the basics if i want to switch... Concerning candles, it helps me a lot to recognize these candle patterns...
Again thanks very much, xrbor.
Well as far as free stuff goes, this thread is FILLED with free bar chart names and examples. If you mean something that shows a bar and then a candlestick pattern that matches that, it really is a matter of just looking at the two. Once you understand how to read a price bar (http://www.investopedia.com/terms/b/barchart.asp ), you will quickly get the hang of transfering that over to a candlestick bar. If there is something more specific you need lemme know. If you are going through this thread and find a bar pattern you can't seem to make out on candles let me know and I can post a chart.

Best

Mike

edit** Here is the same chart with a few price bars labeled. One is the bar chart and the other is the candlestick chart. This is just to give you an idea. There are much more price bars talekd about in this thread. Thought I would just throw this up.;
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  • #2,636
  • Feb 14, 2007 9:32am Feb 14, 2007 9:32am
Since we're posting bar charts, I thought I might throw in a good example of PA and retrace entries at work...

Made this since people over in the cable thread still believe the market moves by the law of news releases and not on PA setups

I mean....even if it were so, the price movement immediately reflects itself on the chart, what other reality is there? And that in turn becomes recognizable...so all news and fundamentals end up PA on your historic chart anyhow
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Trust price. Know yourself.
  • #2,637
  • Feb 14, 2007 9:41am Feb 14, 2007 9:41am
Mike, no, this is not what i mean... For candle charts, there are quite a lot of nice articles explaining how they work, what to watch,etc. Like this series at investopedia, http://www.investopedia.com/articles.../02/121702.asp
Also tons of other things about bearish / bullish formations,etc. Here in the thread what i could see is DBLHC, BOVB, etc. so mainly applying these things...it would be nice to know some background too, ie. what are the bearish formation, trend breakout signals, etc.
Anyhow, i know it is not your job to answer the 100th newbie's question so if i disturb you, just ignore my stuff. Otherwise i really appreciate your help and comments!!!!
All the best, xrbor.
  • #2,638
  • Feb 14, 2007 10:05am Feb 14, 2007 10:05am
Quoting xrbor
Mike, no, this is not what i mean... For candle charts, there are quite a lot of nice articles explaining how they work, what to watch,etc. Like this series at investopedia, http://www.investopedia.com/articles.../02/121702.asp
Also tons of other things about bearish / bullish formations,etc. Here in the thread what i could see is DBLHC, BOVB, etc. so mainly applying these things...it would be nice to know some background too, ie. what are the bearish formation, trend breakout signals, etc.
Anyhow, i know it is not your job to answer the 100th newbie's question so if i disturb you, just ignore my stuff. Otherwise i really appreciate your help and comments!!!!
All the best, xrbor.
No bother at all, I just hope I am understanding you correctly now .

Well in this thread all bar formations can be bullish or bearish. If I understand you correctly you are talking about how candlestick formations can have 3 or so bars that make up a bullish pattern or bearish pattern. James teaches many single and double bar formations. So for instance if you are going through this thread, you can have a pin bar at a swing low which what make you look for long and a pin at a swing high which would make you look for a short.

If you go through this thread you will be able to see what are considered breakout bars(such a TBH(two bar highs), what are bullish bars(such as BUOB(Buillish outside bar)). Many of these bars can be used as both bullish and bearish signals. So for instance a break of a TBH could be use to play a breakout, where as a formation of a TBH signals an exhaustion and can be played for a short. Of course certain bars are only bullish or bearish. A dblhc signals a long(but when that TBL is broke of the DBLHC it can be used as a breakout). Then you have bars like an IB(inside bar), and can play a breakout either way.

I think if you go through this whole thread 2-3 times(i know its long but so worth it). You will quickly see which bars are bullish and which are bearish. If you have any particular questions about a bar it would be easier for me to address, as I feel I am not answering your question properly.


Also as you go through this thread you will understand what to look for. Finding a bar doesn't mean to play it. James teaches that the location of where these bars are located are the most important. This thread gives out a lot on information, but the PF is where James goes into much more detail about how to play these bars.

Sorry if this wasn't what you were asking, maybe 3rd time will be a charm

Best,
Mike
  • #2,639
  • Feb 14, 2007 10:53am Feb 14, 2007 10:53am
I know this is not a PB and it is neautral but can it be played in the say way. I.E. put a stop at the bottom of it and enter the trade once the next bar breaks the high. ( from the break to the top of the next bar is 114 pips....or was that this mornings news coming out?)

Thanks

edit.....and there is the Daily Pivot line to consider...
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  • #2,640
  • Feb 14, 2007 11:12am Feb 14, 2007 11:12am
Yeap, that's what i meant, many thanks, indeed!!! So i think i have my little homework to do...i try to read through the thread, iguess, it will take some time...
What about the James16 PF?? i am considering learning / trading part-time... Currently i am living the not so laid-back life of a programmer at a consulting firm in Hungary, do you think joining the PF can still be useful in such a way as well??
As usual, again, many thanks for the comments and time, xrbor.
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