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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

  • #13,301
  • Sep 2, 2008 10:44am Sep 2, 2008 10:44am
Quoting DutchTrader
Agree, the economic picture of the US imvho is sort of counteracting technicals. Just my .02, any thoughts?
from the technical point of view no way were those pins failing!! this has got to do with economics, guess it all goes down to prove that the fundamentals are also important...

now i just wish the NFP does'nt have more suprises for us tehnical traders...
I believe . . .
  • #13,302
  • Sep 2, 2008 10:51am Sep 2, 2008 10:51am
Quoting gagiul
... God, how much did you guys risk coz the PB was quite large?
... the same amount they would have risked if the PB was smaller????? (per j16 1% or 2% per trade ...)
"Believe nothing you hear and half of what you see." Proverb
  • #13,303
  • Sep 2, 2008 11:07am Sep 2, 2008 11:07am
Quoting ghous
... guess it all goes down to prove that the fundamentals are also important...
... i've actually been incorporating general fundamentals into my j16 trading ... there was a post by "the_wizard" some time back that really caught my attention (during my 2nd read of the thread). he suggested setting up the fibs, TL's, s/r, etc. FIRST (plan the trade) ... and then watching for a PB, BUOB, double bottom, etc. to jump on board (trade the plan) --- this can also be done using some basic knowledge of the fundamentals ... for instance, there is a much going on fundamentally w/ the USD and the EUR ... and this has very much been reflected in the price action as of late ... so, when the fundamentals kept saying short, and then these weak pins appeared (in traffic, no ppz, etc.) ... it was kind of reinforcing the idea to PASS on those bullish "pins." i instead ended up trading the EURUSD & GBPUSD short (after getting my butt kicked by those goofy pins) by jumping in using one of mbqb's combo pins on the EURUSD and BEOB on the GBPUSD and i made out really nicely there.

anyhow, let's stay positive and make some good trades this month!!
"Believe nothing you hear and half of what you see." Proverb
  • #13,304
  • Sep 2, 2008 11:12am Sep 2, 2008 11:12am
here are another set of highly tempting pins on the daily charts...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj.gif Size: 13 KB
Click to Enlarge Name: ej.gif Size: 12 KB
I believe . . .
  • #13,305
  • Sep 2, 2008 11:16am Sep 2, 2008 11:16am
Quoting fxgrinder
... i've actually been incorporating general fundamentals into my j16 trading ... there was a post by "the_wizard" some time back that really caught my attention (during my 2nd read of the thread). he suggested setting up the fibs, TL's, s/r, etc. FIRST (plan the trade) ... and then watching for a PB, BUOB, double bottom, etc. to jump on board (trade the plan) --- this can also be done using some basic knowledge of the fundamentals ... for instance, there is a much going on fundamentally w/ the USD and the EUR ... and this has very much been reflected in the price action as of late ... so, when the fundamentals kept saying short, and then these weak pins appeared (in traffic, no ppz, etc.) ... it was kind of reinforcing the idea to PASS on those bullish "pins." i instead ended up trading the EURUSD & GBPUSD short (after getting my butt kicked by those goofy pins) by jumping in using one of mbqb's combo pins on the EURUSD and BEOB on the GBPUSD and i made out really nicely there.

anyhow, let's stay positive and make some good trades this month!!
right. but...i also know that Jim (James16) pays little attention to news and generally goes wherever price takes him, i also know that many other good traders around rarely consider the news to be a hell of a factor, except the NFP and few other major announcments Jim himself advised me not to worry
too much abt economic impacts provided my trading is suplemented well with sound money managment
I believe . . .
  • #13,306
  • Sep 2, 2008 11:21am Sep 2, 2008 11:21am
Quoting ghous
here are another set of highly tempting pins on the daily charts...
Keep an eye on how the geppy PB closes, that is such a big PPZ and a gap needs filling putting 197 on the cards. Its counter-trend though so know it's a high risk, high reward trade. If you take it and it works, not sure I will but let's see, don't forget to reverse your position and double your position size for the ride to 180...

As for E/J, don't trust that bitch with a dime!!

Tight MM should see you...
Money & Pain Respect the market, protect your capital, be patient
  • #13,307
  • Sep 2, 2008 11:39am Sep 2, 2008 11:39am
Quoting ghous
right. but...i also know that Jim (James16) pays little attention to news and generally goes wherever price takes him,
right you are ... however, i have been using basic understanding of the fundamentals (the overall "trend" you might say) as it's own source of support/resistance in addition to what the fibs, pure price support/resistance, MA's, etc. are telling me about the price action ... so, i won't be "trading" NFP ... but i certainly will be paying attention to it in terms of the potential to shift/reverse/retrace the present "trends," support, resistance, etc. for any future positions i may enter.

besides, the fundamentals are a good distraction for me when there are no price actions in sight and i am tempted to trade something ....... (and in the past ... anything)
"Believe nothing you hear and half of what you see." Proverb
  • #13,308
  • Sep 2, 2008 11:48am Sep 2, 2008 11:48am
Quoting fxgrinder
right you are ... however, i have been using basic understanding of the fundamentals (the overall "trend" you might say) as it's own source of support/resistance in addition to what the fibs, pure price support/resistance, MA's, etc. are telling about the price action ... so, i won't be "trading" NFP ... but i certainly will be paying attention to it in terms of the potential to shift/reverse/retrace the present "trends," support, resistance, etc. for any future positions i may enter.

besides, the fundamentals are a good distraction for me when there are no price actions in sight and i am tempted to trade something ....... (and in the past ... anything)
I believe . . .
  • #13,309
  • Sep 2, 2008 11:50am Sep 2, 2008 11:50am
Quoting ghous
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  • #13,310
  • Sep 2, 2008 12:09pm Sep 2, 2008 12:09pm
Quoting ghous
here are another set of highly tempting pins on the daily charts...
... tempting indeed on the EURJPY ...

however, i think i am going to pass ... price has already busted through a thick floor of support ("ppz") from 15962 all the way through 15823 and there isn't any demand for the pair now until 154-155 ... [the "pin" ... should price close in the top 10-25% of the bar, is untradeable anyway by my rules as the nose doesn't stick out below the left eye at least by 50% of the range of the "pin" bar)
"Believe nothing you hear and half of what you see." Proverb
  • #13,311
  • Sep 2, 2008 1:25pm Sep 2, 2008 1:25pm
Check these "Pinbars" on interbank... it's very very very strong short momentum with no pinbar


Quoting ghous
here are another set of highly tempting pins on the daily charts...
  • #13,312
  • Sep 2, 2008 1:37pm Sep 2, 2008 1:37pm
Double barrel PBs on the 4 hour (or 8 hour PB) Aud/Usd.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #13,313
  • Sep 2, 2008 2:11pm Sep 2, 2008 2:11pm
1st target .8480ish. And/or fib targets
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #13,314
  • Sep 2, 2008 3:31pm Sep 2, 2008 3:31pm
Hi all,

30 min to close for my broker, and the only nice pinbar I see
is USDCAD. From the other pins, the noses are a bit short, compared with its length of the bodys imho.

But there are 30 minutes left to build some better pins
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 12 KB
  • #13,315
  • Sep 2, 2008 3:46pm Sep 2, 2008 3:46pm
Hey Peaches I was was looking at that too
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd-cad ,daily ,8.30pm ,2nd sept.gif Size: 45 KB
Click to Enlarge Name: usd-cad monthly ,8.30pm ,2nd sept.gif Size: 37 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,316
  • Sep 2, 2008 3:51pm Sep 2, 2008 3:51pm
Quoting peaches
Hi all,

30 min to close for my broker, and the only nice pinbar I see
is USDCAD. From the other pins, the noses are a bit short, compared with its length of the bodys imho.

But there are 30 minutes left to build some better pins
She's a looker peaches, spotted. Double top?
Money & Pain Respect the market, protect your capital, be patient
  • #13,317
  • Sep 2, 2008 4:07pm Sep 2, 2008 4:07pm
Quoting toyboy tramp
She's a looker peaches, spotted. Double top?


Oh, haven´t noticed until now
  • #13,318
  • Sep 2, 2008 4:09pm Sep 2, 2008 4:09pm
Quoting Bones
Hey Peaches I was was looking at that too
  • #13,319
  • Sep 2, 2008 5:13pm Sep 2, 2008 5:13pm
Quoting jarroo
Double barrel PBs on the 4 hour (or 8 hour PB) Aud/Usd.
Jarroo, in the last month GU was dropping like crazy, making lower highs and lower lows, I only use daily candles in my analysis and I couldn´t spot a nice setup to get in short, not a double bar low or and outside candle that would get me a nice entry point, I had a feeling it was going lower and lower but I didnt know when to enter, what do you do in those cases, do you resort to 4hr TF?? GU has tanked like 2000 pips, did you grab any? if so, how??

if there were in deed daily setups, please showém to me.
  • #13,320
  • Sep 2, 2008 6:11pm Sep 2, 2008 6:11pm
Quoting judith
Jarroo, in the last month GU was dropping like crazy, making lower highs and lower lows, I only use daily candles in my analysis and I couldn´t spot a nice setup to get in short, not a double bar low or and outside candle that would get me a nice entry point, I had a feeling it was going lower and lower but I didnt know when to enter, what do you do in those cases, do you resort to 4hr TF?? GU has tanked like 2000 pips, did you grab any? if so, how??

if there were in deed daily setups, please showém to me.
Hey judith. Great question.

What do you do in a strong trending market where there is no obvious signs of Price Action to get you in?
My solution is to drop down to the 8 hour and 4 hour time frames. Look for PA at S/R levels (PPZs) just like higher time frames.

The move down on GU has been so strong and long that you have to look for PPZs at 2006/2007 levels. Trust me, Price remembers these levels.

I can't post a chart now, but if you look at BEOBs and played only the bottom breaks on Inside Bars, GU has been very good to you last month.

Aust 7th (4 hour) had a BEOB followed by some IBs was a great trade I took last month.

Only playing Bullish PA in a uptrend, Bearish PA in a down trend when the trend is strong is the best and easiest way to trade.
Indicators show the past. Price Action "Indicates" the future.
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