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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

  • #13,461
  • Sep 5, 2008 10:47am Sep 5, 2008 10:47am
Quoting Icehocey77
all kinds of pinbars showing up on the daily's

EURCHF/GBPJPY are decent

USD/JPY is huge.
gap + pinbar = high probability setup. I already have a built position on it, but would add if a valid pinbar forms.
  • #13,462
  • Sep 5, 2008 11:11am Sep 5, 2008 11:11am
here's how i see the EURUSD playing out now that price has busted through the support zone i think many of us were using to jump into the market long using the recent pin (my limit order didn't trigger ) ... all of this is IMO of course as i continue my j16 journey on my demo account ...

if there is any further PA where i can jump in short heading to the levels indicated i might do that (i.e., BEOB, DBHLC, IB ...) or, just stand aside waiting to see if PA will give me the "high" sign ...

cheers and good thoughts for the trading week ahead ...
"Believe nothing you hear and half of what you see." Proverb
  • #13,463
  • Edited 12:17pm Sep 5, 2008 11:53am | Edited 12:17pm
if you're still around ...

i'm really studying and getting experience w/ exits/entries ... trying a host of different methods as i go ... i want to experiment using s/r [as a stop loss method] as you described it throughout this thread and just have a question about if i have picked a logical place for that in this trade (the "x") ... or would you use something more historical (back in 2006-ish?) ... or not as close [for the stop loss] as this s/r point due to my impression this currency has some more to go b/f truly stalling out ...

thanks for your help ... again! and thank you for your continued positive and constructive approach to your responses to our posts ... i don't know you, but your character as a person really comes through in your posts.
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"Believe nothing you hear and half of what you see." Proverb
  • #13,464
  • Sep 5, 2008 12:01pm Sep 5, 2008 12:01pm
Quoting fxgrinder
if you're still around ...

i'm really studying and getting experience w/ exits/entries ... trying a host of different methods as i go ... i want to experiment using s/r as you described it throughout this thread and just have a question about if i have picked a logical place for that in this trade (the "x") ... or would you use something more historical (back in 2006-ish?) ... or not as close as this s/r point due to my impression this currency has some more to go b/f truly stalling out ...

thanks for your help ... again! and thank you for your continued positive and constructive approach to your responses to our posts ... i don't know you, but your character as a person really comes through in your posts.
Hey grinder

Thanks for the kind words, means a lot!

I think I understand your question, but if I am mis-interpreting just let me know.

If you zoom out a lot on the daily, we can't see any support areas. This tells me we are nearly in "no mans land"(see pic 1). So this immediately lets me know I have to go up a timeframe or two.

So if we jump up to the weekly now we can start to get a better idea of the zone for potential support(marked by the blue box on pic 2). This is the area for me. If you jump up even higher to the monthly you can see even more the zones effect on previous price (ie PPZ).

Now there are a few things. Just because I have this area marked off doesn't mean any old PA is going to be good enough. IMO if you found the Support on a weekly timeframe, you should wait for a weekly PA trigger. My reasoning for this is that the weekly should allow enough information where as the daily might give us false triggers until we find the appropriate area within this "zone". Be patient for the appropriate signals.

With that said also, we still have a gap to close, and these are something I will always take into consideration.

I hope I properly addressed your question let me know though,

Best,
Mike
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  • #13,465
  • Sep 5, 2008 12:12pm Sep 5, 2008 12:12pm
Quoting mbqb11
Hey grinder

Thanks for the kind words, means a lot!

I think I understand your question, but if I am mis-interpreting just let me know.

If you zoom out a lot on the daily, we can't see any support areas. This tells me we are nearly in "no mans land"(see pic 1). So this immediately lets me know I have to go up a timeframe or two.

So if we jump up to the weekly now we can start to get a better idea of the zone for potential support(marked by the blue box on pic 2). This is the area for me. If you jump up even higher to the monthly you can see even more the zones effect on previous price (ie PPZ).

Now there are a few things. Just because I have this area marked off doesn't mean any old PA is going to be good enough. IMO if you found the Support on a weekly timeframe, you should wait for a weekly PA trigger. My reasoning for this is that the weekly should allow enough information where as the daily might give us false triggers until we find the appropriate area within this "zone". Be patient for the appropriate signals.

With that said also, we still have a gap to close, and these are something I will always take into consideration.

I hope I properly addressed your question let me know though,

Best,
Mike
HA!!! blame my unclear post, but your response is too good (and i keep learning from you). anyway, i meant the "x" to move my SL to protect my profits ... sorry, i should have reviewed my post before hitting submit ...
"Believe nothing you hear and half of what you see." Proverb
  • #13,466
  • Sep 5, 2008 12:15pm Sep 5, 2008 12:15pm
Quoting fxgrinder
HA!!! blame my unclear post, but your response is too good. i meant the "x" to move my SL to protect my profits ... sorry, i should have reviewed my post before hitting submit ...
ah well, when price free falls like this, I tend to use the previous days high to protect my profits. This steep of a move is just due for a retrace, and with the gap there too. So that looks good to me, I would even use todays high and just lock profit up.

Beauty of a trade there, well done...it's nice when the hardest part is deciding how much profit to cover
  • #13,467
  • Sep 5, 2008 12:22pm Sep 5, 2008 12:22pm
Someone is either not paying attention or is just looking for a place to throw his daggars. I seem to remember tons of posts that were talking about setups as they developed and the advise by james16 and everyone else to practice (demo) PA till good at it to the point it seemed like over kill. I also seem to remember a rant from Mr fibb in the early few hundred pages of the thread (I could be wrong), along with the other noise, that it helped me to decide to join the james16 group to eliminate that noise. So thanks again Mr fibb. You give me absolute confirmation that I am in the right place.

Rick
  • #13,468
  • Edited 12:38pm Sep 5, 2008 12:26pm | Edited 12:38pm
Quoting mbqb11
ah well, when price free falls like this, I tend to use the previous days high to protect my profits. This steep of a move is just due for a retrace, and with the gap there too. So that looks good to me, I would even use todays high and just lock profit up.

Beauty of a trade there, well done...it's nice when the hardest part is deciding how much profit to cover
ya, it's the drawdowns that really send me for an emotional tailspin (which is what i encountered during my first month demo-ing j16) and that is how i recognized that for me, i really need to focus a great deal of attention to my tolerance for watching a positive trade go dipping down for a while before resuming (that's why i finally settled on being really conservative during the first part of the trade and get aggressive later). funny thing is, i'm better at watching it hang around in the negative for long periods of time before it finally kicks off in my direction -- go figure.

anyway, good stuff ... happy weekend ...
"Believe nothing you hear and half of what you see." Proverb
  • #13,469
  • Sep 5, 2008 12:28pm Sep 5, 2008 12:28pm
Oh my gosh....they are talking about actual setups on this very page!!!
  • #13,470
  • Sep 5, 2008 12:30pm Sep 5, 2008 12:30pm
This is a chart of euro, showing trades both long and short that a good setups, 4 trades won, 1 trade lost, keep in mind the potential for the winners were huge, ALOT bigger then the one loss, anyone like fib got questions about my chart fire away, but don't complain about hindsight, if you wanna see this stuff not in hindsight, you can use the f12 key in mt4 to take you day by day and see it all unfold in front of your eyes, pound chart was even better then this, no losses. This method actually is the holy grail of trading, sorry to say but it's true.
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  • #13,471
  • Sep 5, 2008 12:49pm Sep 5, 2008 12:49pm
Quoting Rick E
Oh my gosh....they are talking about actual setups on this very page!!!
it certainly has been tough (for us noobs) lately w/ all the negative posts - even something said that is positive is turned into an opportunity to criticize j16 or a poster in some way. i am committed to continuing w/ the j16 trading plan and constantly trying to learn as much as i can from others, but like i said, it's been tough and i have thought about simply give up on the thread and going it alone (which i doubt would do me any good). hopefully, the dark cloud around here lately will dissipate so we can get back to the interactive positive dialogue we had going before.

cheers and happy trading.
"Believe nothing you hear and half of what you see." Proverb
  • #13,472
  • Sep 5, 2008 12:51pm Sep 5, 2008 12:51pm
GOLD, and uj, I took this pin, closed part as it hit previous monthly highs, now I've moved my stop to a point where if I get hit, i get a overall b/e trade, just showing there is many different ways to successfully trade these.
This uj has a potential for a huge run.
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  • #13,473
  • Sep 5, 2008 1:18pm Sep 5, 2008 1:18pm
Quoting Mr Smith
but don't complain about hindsight, if you wanna see this stuff not in hindsight, you can use the f12 key in mt4 to take you day by day and see it all unfold in front of your eyes, pound chart was even better then this, no losses. This method actually is the holy grail of trading, sorry to say but it's true.
I would be delighted to learn from you if you would be so kind as to post your trades as they happen as people like Jaroo do.
  • #13,474
  • Sep 5, 2008 1:54pm Sep 5, 2008 1:54pm
Quoting fxprocessor
I would be delighted to learn from you if you would be so kind as to post your trades as they happen as people like Jaroo do.

I'll post some trades before they happen, but if the posts jaroo and others are doing is not enough for you, then I'm afraid, no matter what I post will not make or break this method for you, but I will start to post a few live trades like I said, but I will not spend all my time posting every single trade I take like some signal service or soemthing, you seem to want to learn, so lets stop all the BS posts and complaints, if your here to learn quit complaining and dig down and study, if it doesn't suit you, or you find your always losing and you dont like this method, then leave this thread alone, don't come on here and complain that a pinbar failed blablabla. Noone is forcing anyone into this thread, again I'd like someone to post a chart over the last 3months showing how they took all the good setups and how they lost overall in that period, cause that seems to be the complaint here, that over the last 2 months people got slaughtered, and you know what, even if that were true, that this method had a losing 2 months, that does not mean anything in the large scheme of trading, if you cannot handle streaks of losses occaisonally, i'd seriously consider not trading forex, or any trading for that matter.

No more rants from me.
  • #13,475
  • Sep 5, 2008 2:30pm Sep 5, 2008 2:30pm
You are obviously very successful trading price action so I look forward to your posts


Quoting Mr Smith
I'll post some trades before they happen, but if the posts jaroo and others are doing is not enough for you, then I'm afraid, no matter what I post will not make or break this method for you, but I will start to post a few live trades like I said, but I will not spend all my time posting every single trade I take like some signal service or soemthing, you seem to want to learn, so lets stop all the BS posts and complaints, if your here to learn quit complaining and dig down and study, if it doesn't suit you, or you find your always losing and you dont like this method, then leave this thread alone, don't come on here and complain that a pinbar failed blablabla. Noone is forcing anyone into this thread, again I'd like someone to post a chart over the last 3months showing how they took all the good setups and how they lost overall in that period, cause that seems to be the complaint here, that over the last 2 months people got slaughtered, and you know what, even if that were true, that this method had a losing 2 months, that does not mean anything in the large scheme of trading, if you cannot handle streaks of losses occaisonally, i'd seriously consider not trading forex, or any trading for that matter.

No more rants from me.
  • #13,476
  • Sep 5, 2008 2:36pm Sep 5, 2008 2:36pm
Hi guys, do you noticed the closing at IBFX live accounts today?
Just compare the prices from the market view tab with the prices from the open trades.....
Does someone of you encountered that before?
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I don't say
  • #13,477
  • Sep 5, 2008 3:14pm Sep 5, 2008 3:14pm
On sunday I will be looking to short uchf with a 35 pip stop, daily pinbar from a few days ago has barely broken, this type of trade can be a small stop with huge potential, it's a semi high risk trade so I only risk about 1/4 % position size. So stop around 1204, we'll see as sunday opens.

Goes without saying that this is to show a few of the types of setups I take, and noone should try these until they prove to themselves, they know what there doing, there is no such thing as a set of exact rules you can follow without some intelligence in forex, so be smart.
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  • #13,478
  • Sep 5, 2008 3:29pm Sep 5, 2008 3:29pm
Now, just watch out for the new book "ENCYCLOPEDIA OF FAILED PINBARS AND OTHER AMAZING PATTERNS" by Gagiul, FxProcessor & Co...soon to be published by a prestigious editure.
They granted me exclusive distribution and the 1st 1000000000 buyers get a huge discount. This combined with James16 method, automatically guarantees tremendous profitability.

And I'm going to share with you the best kept secret. James16 and presumably W.B. have a large stake in this new web site:

http://www.absolute_the_best_forex_b...or_newbies.com

Just click on it. This broker implements an absolute function (you need to know a bit of Excel) NEW_LOSS = ABS(whateverl_loss_you_have).

And they just ask for proof of newbie status, nothing else, and will fund your account with extra $100 after 1st 10 trades.

If the servers are overloaded due to huge traffic, then try this:


www.forex_on_steroids.com

or:

{link to be posted soon by moderator}
Once A Trader Always A Trader.
  • #13,479
  • Sep 5, 2008 3:33pm Sep 5, 2008 3:33pm
Quoting Mr Smith
On sunday I will be looking to short uchf with a 35 pip stop, daily pinbar from a few days ago has barely broken, this type of trade can be a small stop with huge potential, it's a semi high risk trade so I only risk about 1/4 % position size. So stop around 1204, we'll see as sunday opens.

Goes without saying that this is to show a few of the types of setups I take, and noone should try these until they prove to themselves, they know what there doing, there is no such thing as a set of exact rules you can follow without some intelligence in forex, so be smart.
hi. Can I ask you why would you short the Usd/Chf now? I dont see any PA supporting it, the PB has been broken to the upside. Only MACD shows divergence....
We leave no soldier behind.
  • #13,480
  • Sep 5, 2008 3:39pm Sep 5, 2008 3:39pm
Quoting Liviu
Now, just watch out for the new book "ENCYCLOPEDIA OF FAILED PINBARS AND OTHER AMAZING PATTERNS" by Gagiul, FxProcessor & Co...soon to be published by a prestigious editure.
They granted me exclusive distribution and the 1st 1000000000 buyers get a huge discount. This combined with James16 method, automatically guarantees tremendous profitability.

And I'm going to share with you the best kept secret. James16 and presumably W.B. have a large stake in this new web site:

http://www.absolute_the_best_forex_b...or_newbies.com

Just click on it. This broker implements an absolute function (you need to know a bit of Excel) NEW_LOSS = ABS(whateverl_loss_you_have).

And they just ask for proof of newbie status, nothing else, and will fund your account with extra $100 after 1st 10 trades.

If the servers are overloaded due to huge traffic, then try this:


www.forex_on_steroids.com

or:

{link to be posted soon by moderator}
Lol, your humour is a really weird, to use a nice word. Besides, I dont get why do you include FxProcessor in the same category.
We leave no soldier behind.
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