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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

  • #14,141
  • Oct 2, 2008 2:53pm Oct 2, 2008 2:53pm
Quoting my30marahaba
dear sir,

you are right sir.... the PA to be go down but not this time
now i have learned one lesson from here .......
I have to re'draw my chf chart for next future movement
thanks for your advise......

best regards,
my30marahaba
I went long on that 4 hour swissy bull flag you posted. Figured it for a good chance to test the old high. Missed the profit target by 1 pip! Moral of the story is .....you never know.

I really liked seeing how Ghous and Mike drew their charts different. It still amazes me how we can see the exact same thing yet get totaly different ideas about it. You guys think charts are kinda like the ink blot test? We are prone to see what we want to in them?

Mike you consider a trend line invalidated after a price has moved threw it by a certian amount?

regards,

Jason
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May the fish in your stream of life always bite.
  • #14,142
  • Oct 2, 2008 5:03pm Oct 2, 2008 5:03pm
We have seen some very significant moves in the last months and just thought it might be useful to show some longer term charts to show how important they may be. The charts are quarterly candles (i.e. 3mths each ).

I have selected the AUD/USD, which shows a strong BEOB off the 50% fib. and price breaking the rising trendline.
Similar patterns are evident in EUR/USD and EUR/YEN.
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  • #14,143
  • Oct 2, 2008 5:16pm Oct 2, 2008 5:16pm
Quoting aSandman
I went long on that 4 hour swissy bull flag you posted. Figured it for a good chance to test the old high. Missed the profit target by 1 pip! Moral of the story is .....you never know.

I really liked seeing how Ghous and Mike drew their charts different. It still amazes me how we can see the exact same thing yet get totaly different ideas about it. You guys think charts are kinda like the ink blot test? We are prone to see what we want to in them?

Mike you consider a trend line invalidated after a price has moved threw it by a certian amount?

regards,

Jason
hi bro.....yeah its interesting to see the difference between the 2 chart, hard to believe we were looking at the same thing..unlucky on the trade bro 1 pip miss is bad luck..but was a great trade...

i need to spend more time in this thread...i always gain so much
good luck with the non farm tomorrow bro
  • #14,144
  • Oct 2, 2008 11:50pm Oct 2, 2008 11:50pm
Hi guys here is a nice DBHLC i see on my charts...it is perfect because the highs were perfectly matched, they both occured at 1.0799 without a single pip difference.

Regards,
Ghous.
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I believe . . .
  • #14,145
  • Oct 3, 2008 12:23am Oct 3, 2008 12:23am
Quoting ghous
Hi guys here is a nice DBHLC i see on my charts...it is perfect because the highs were perfectly matched, they both occured at 1.0799 without a single pip difference.
mine shows a bearish outside bar on the 4hr (low is 10750 if that helps). also ... a triple top 10819, 10807, 10807 ... next support level 10700-ish ... then freerolling to 10548 ... have a good time w/ this one ghous!!
"Believe nothing you hear and half of what you see." Proverb
  • #14,146
  • Oct 3, 2008 12:41am Oct 3, 2008 12:41am
Quoting ghous
Hi guys here is a nice DBHLC i see on my charts...it is perfect because the highs were perfectly matched, they both occured at 1.0799 without a single pip difference.

http://www.forexfactory.com/attachme...1&d=1223009428

Regards,
Ghous.
I guess ur pointing out for the possible short...Am not so familiar wif pin bar language,,,

Nice work..
Sonic
  • #14,147
  • Oct 3, 2008 1:23am Oct 3, 2008 1:23am
Quoting sonicdeejay
I guess ur pointing out for the possible short...Am not so familiar wif pin bar language,,,

Nice work..
Sonic
this is not Pin bar language but James16 bar shapes that he so often talks abt. it's all there in the early pages of the thread.

Regards,
Ghous.
I believe . . .
  • #14,148
  • Oct 3, 2008 6:50am Oct 3, 2008 6:50am
Hi all, this is my first post here and I thought id kick it off with a chart. Im still in my demoing stage and loving it. I currently dont trade 4h charts, only daily and weekly but i can still peek!
Confluence between the PPZ and the fibo in a down trend, (lower lows and lower highs) with a nice pin bar.
The pin hasnt broken yet so no trade atm.
Cheers
Lakey
Attached Image
  • #14,149
  • Oct 3, 2008 9:00am Oct 3, 2008 9:00am
Quoting sonicdeejay
I guess ur pointing out for the possible short...Am not so familiar wif pin bar language,,,

Nice work..
Sonic
it is for a short, but it is another parttern: Double Bar High Lower Close, so DBHLC.
  • #14,150
  • Oct 3, 2008 6:44pm Oct 3, 2008 6:44pm
Bearish outside bar on gold. Any thoughts on how to play this? The low is 819.20, so what's the number to watch for a break? 810 or 800 or 815? I love the fact that this method works with all markets. Just starting to get a feel for gold, silver, crude, and the indexes.

There was some big moves this week. I hope you all got some pips on the weekly pins on the euro, pound, and aussie.
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"Don't trade to trade . . . trade to win." - James16
  • #14,151
  • Oct 3, 2008 7:14pm Oct 3, 2008 7:14pm
Another chart of the loonie. The currency pair that actually got me interested in Forex in the first place. I'm an American living in Canada, and been earning US dollars for some time. (oh the pain)

My favorite kind of inside bar: the one's that look like pin bars. They seem to be the most potent. If you use the Interbank chart feed you'll see one on cable too from a number of months ago on the daily chart.
Attached Image(s) (click to enlarge)
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"Don't trade to trade . . . trade to win." - James16
  • #14,152
  • Oct 3, 2008 11:48pm Oct 3, 2008 11:48pm
Quoting Flem26
.... living in Canada, and been [exchanging] US dollars for some time. (oh the pain)
boy do i know that feeling ... uggh
"Believe nothing you hear and half of what you see." Proverb
  • #14,153
  • Oct 4, 2008 12:30am Oct 4, 2008 12:30am
Quoting nAVIN2007
hi bro.....yeah its interesting to see the difference between the 2 chart, hard to believe we were looking at the same thing..unlucky on the trade bro 1 pip miss is bad luck..but was a great trade...

i need to spend more time in this thread...i always gain so much
good luck with the non farm tomorrow bro
lol yeah missed that one by one pip, but like Mike and other great traders say ....Its just another trade. I got 1:1.5 and split. Looking back over the last hundred trades or so by FAR the biggest losses were caused by over trading showing a grotesque lack of discipline on my part. Further enhanced by having no written plan. The thing I am wrestling with is which part of J16 and what I do should be discretionary and what part systematic? Only questions I can answer for myself. I have two accounts, one I have taken only the best of the best trades in. The other I have traded freely with no restrictions. One is up 11% for the month, the other is down 1.5%. Guess which is which? I sat the no farm out

Take care,

Jason
May the fish in your stream of life always bite.
  • #14,154
  • Oct 4, 2008 2:32am Oct 4, 2008 2:32am
Hi guys,

some interesting charts i found over my weekend analysis...

Regards,
Ghous.
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I believe . . .
  • #14,155
  • Oct 4, 2008 2:54am Oct 4, 2008 2:54am
Quoting ghous
Hi guys,

some interesting charts i found over my weekend analysis...

Regards,
Ghous.

Dear Sir,
How about this USDCHF any possible to going down this week,
see the plan of the USD CHF ....... need your advise sir,
double top with out side bar ....

Regards,
My30marahaba
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  • #14,156
  • Oct 4, 2008 3:25am Oct 4, 2008 3:25am
Quoting my30marahaba
Dear Sir,
How about this USDCHF any possible to going down this week,
see the plan of the USD CHF ....... need your advise sir,
double top with out side bar ....

Regards,
My30marahaba
the double top is valid, it's clear that price is finding nice resistance around 1.14, another thing that favors a downmove is the bearish divergence, and with the usd showing weakness all around you can be biased i.e anticipate that it's going to go down.

However be aware that there has'nt been any sure confirmation of such a downmove as yet, atleast nothing from James16's book. that bearish bar is not an aoutside bar the high clearly lies below the high of the previous bar. so i would suggest you to wait for an opportunity rather than chase one

Regards,
Ghous.
I believe . . .
  • #14,157
  • Oct 4, 2008 3:33am Oct 4, 2008 3:33am
Quoting ghous
the double top is valid, it's clear that price is finding nice resistance around 1.14, another thing that favors a downmove is the bearish divergence, and with the usd showing weakness all around you can be biased i.e anticipate that it's going to go down.

However be aware that there has'nt been any sure confirmation of such a downmove as yet, atleast nothing from James16's book. that bearish bar is not an aoutside bar the high clearly lies below the high of the previous bar. so i would suggest you to wait for an opportunity rather than chase one

Regards,
Ghous.
Thanks sir for your advise ......

Regards,
My30marahaba
  • #14,158
  • Oct 4, 2008 3:48am Oct 4, 2008 3:48am
Quoting ghous
the double top is valid, it's clear that price is finding nice resistance around 1.14, another thing that favors a downmove is the bearish divergence, and with the usd showing weakness all around you can be biased i.e anticipate that it's going to go down.
As much as I try to avoid fundamental bias lately, there are a lot of people pulling money from markets at the moment. They want their US dollars in their sweaty palms. They don't care what the charts say or even care whether the dollar deserves to be valued at current levels. ...It's a force you can't fight. (Wish I was on to that quicker myself. lol)

Expect the unexpected. Be ready to trade either outcome.

.
Bundy's status today: "Waiting..."
  • #14,159
  • Oct 4, 2008 3:50am Oct 4, 2008 3:50am
Quoting my30marahaba
Thanks sir for your advise ......

Regards,
My30marahaba
here is the chart.
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I believe . . .
  • #14,160
  • Oct 4, 2008 3:55am Oct 4, 2008 3:55am
Quoting bundyraider
As much as I try to avoid fundamental bias lately, there are a lot of people pulling money from markets at the moment. They want their US dollars in their sweaty palms. They don't care what the charts say or even care whether the dollar deserves to be valued at current levels. ...It's a force you can't fight. (Wish I was on to that quicker myself. lol)

Expect the unexpected. Be ready to trade either outcome.

.
i don't find one valid reason to disagree with you Bundy...

but all this fundamental dominance these days does'nt impress me one bit to look into it. i think fundis clearly suck! it's easily the most boring part of forex trading.(sorry fundi traders if any out there ) let's just try and stick to what we've been doing thus far and what we have been told to do. but like unknown danger have your defense tight i.e only "anticipate" price rather than "predict" it.

Regards,
Ghous.
I believe . . .
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