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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

  • #14,921
  • Nov 3, 2008 12:57am Nov 3, 2008 12:57am
I wanted to adress something to the James 16 followers. It.s been a year since I discover Forex Factory and hagning around to learn new system and strategies to trade the market. To be honest I have try every sytem that exist and they dont work for me but I was Always telling to my self Wath is price action Why so many people accept the concept And I I finallysaid to myself... we need to get these guy all toghether at the same place so here is my plan we will met at the lac Brulé on december 24 for all your famailly no problem o kk Are you ready to beleive in Quebequerrs!!!! We as Quebecerss beleive in american for decades for aour future we have the ressources and we need you to beleive in us and we need American to come here to tell us that it's going to be ok... We need to see the american population herre like we are maybe the the american population has forgot!!!! Freedom... self esteem if the american as forgot I dont want to be negative but we in canada have voted for Harper wich is the same as A Bush wich is the same as John
McCain everybody Knows that we need change and you citizen of USA can make the difference so all off you on the the 4 of november need to give your opinion by having the chance to vote there is no way you can let somebody not vote everybodya needs to vote you have as a citizen bring the people to the voting center and make all you can do to vote I want all of the forex trader to vote is that ok!!!!!
  • #14,922
  • Nov 3, 2008 1:23am Nov 3, 2008 1:23am
Quoting Bridge
I wanted to adress something to the James 16 followers. It.s been a year since I discover Forex Factory and hagning around to learn new system and strategies to trade the market. To be honest I have try every sytem that exist and they dont work for me but I was Always telling to my self Wath is price action Why so many people accept the concept And I I finallysaid to myself... we need to get these guy all toghether at the same place so here is my plan we will met at the lac Brulé on december 24 for all your famailly no problem o kk Are you ready to beleive in Quebequerrs!!!! We as Quebecerss beleive in american for decades for aour future we have the ressources and we need you to beleive in us...
????
I believe . . .
  • #14,923
  • Edited 1:56am Nov 3, 2008 1:33am | Edited 1:56am
Quoting ghous
on the charts above the steepness seems to be overdone and exagerrated due to the reshaping of the image, the trendlines are'nt exactly as steep as they appear in my post above.

But anyways i get the point thanks Dude, this was something new to me, i can see what you mean

just for reference here is the Gu chart (as is):


Regards,
Ghous.
A better way to check for steepness is to use your fib tool.

If any corresponding pull-back can line up up with fibs in good confluence it has a better chance of working out. If confirming PA comes about in that exact same spot to signal an entry you're looking pretty good.

You'll have to practice this to understand how well everything has to line up. Like every thing you want the best circumstance. You can filter out a lot of "lazy" breakouts doing this.

edit: What you'll find is a lot of steep trend lines (and many that are too flat) have little chance of lining up well with an appropriate fib area. More often than not, it's these that don't snap into profit quickly and continue on. ....What I like to see happen. They are more of a gamble trade. Lower probability.
Bundy's status today: "Waiting..."
  • #14,924
  • Nov 3, 2008 1:37am Nov 3, 2008 1:37am
Quoting Bridge
I wanted to adress something to the James 16 followers. It.s been a year since I discover Forex Factory and hagning around to learn new system and strategies to trade the market. To be honest I have try every sytem that exist and they dont work for me but I was Always telling to my self Wath is price action Why so many people accept the concept And I I finallysaid to myself... we need to get these guy all toghether at the same place so here is my plan we will met at the lac Brulé on december 24 for all your famailly no problem o kk Are you ready to beleive in Quebequerrs!!!! We as Quebecerss beleive in american for decades for aour future we have the ressources and we need you to beleive in us...
Thanx Frined for sharing strategy.. what is SL and TP? :nerd: just joking
Never sell @ lower upward channel unless breacked and vise versa .
  • #14,925
  • Nov 3, 2008 1:45am Nov 3, 2008 1:45am
Quoting bundyraider
A better way to check for steepness is to use your fib tool.

If any corresponding pull-back can line up up with fibs in good confluence it has a better chance of working out. If confirming PA comes about in that exact same spot to signal an entry you're looking pretty good.

You'll have to practice this to understand how well everything has to line up. Like every thing you want the best circumstance. You can filter out a lot of \"lazy\" breakouts doing this.
Looks like a solid strategy, could you share a chart or two Bundy?
I believe . . .
  • #14,926
  • Nov 3, 2008 1:59am Nov 3, 2008 1:59am
Quoting ghous
Looks like a solid strategy, could you share a chart or two Bundy?
I will mate. Wanted to, but later on when I get home. I'm using a track pad on my laptop . Not fun for doing that stuff. lol
Bundy's status today: "Waiting..."
  • #14,927
  • Nov 3, 2008 2:04am Nov 3, 2008 2:04am
Quoting ghous
Looks like a solid strategy, could you share a chart or two Bundy?
let me see if got it right Bundy,

In the attatched chart below, the magenta trendline is my original line i am watching for a possible breakout. I can see that if my line was that aqua trendline which is comparitively steeper the breakout would have been somewhere around the 23.6 fib ratio which is'nt enough of a retracment to threaten a reversal of the shorter term trend (which is "up" in this case while the longer term is "down") whereas looking at a possible break from the magenta trendline tells us that the the PA should occur somewhere around the 38.2 fib which is slightly better, a more perfect breakout would be around the 50 or the 61.8 retracment.....is that right?
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I believe . . .
  • #14,928
  • Nov 3, 2008 2:12am Nov 3, 2008 2:12am
Quoting ghous
let me see if got it right Bundy,

In the attatched chart below, the magenta trendline is my original line i am watching for a possible breakout. I can see that if my line was that aqua trendline which is comparitively steeper the breakout would have been somewhere around the 23.6 fib ratio which is'nt enough of a retracment to threaten a reversal of the shorter term trend (which is \"up\" in this case while the longer term is \"down\") whereas looking at a possible break from the magenta trendline tells us that the the PA should occur somewhere around the 38.2 fib which is slightly better, a more perfect breakout would be around the 50 or the 61.8 retracment.....is that right?
here is an even better current example, the Gu chart

You're a genius Bundy
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I believe . . .
  • #14,929
  • Nov 3, 2008 2:31am Nov 3, 2008 2:31am
I fyou promise to vote I will give you more is this a deal?
Quoting WedWed
Thanx Frined for sharing strategy.. what is SL and TP? :nerd: just joking
  • #14,930
  • Nov 3, 2008 2:37am Nov 3, 2008 2:37am
Quoting ghous
here is an even better current example, the Gu chart

You're a genius Bundy
No, no. Hang on. I think you've miss-understood. lol

I meant the pullback and the fib. AFTER the break out. I will have to do an example. I'll definitely do one later. It's hard to explain without some examples.
Bundy's status today: "Waiting..."
  • #14,931
  • Nov 3, 2008 2:51am Nov 3, 2008 2:51am
Quoting bundyraider
No, no. Hang on. I think you've miss-understood. lol

I meant the pullback and the fib. AFTER the break out. I will have to do an example. I'll definitely do one later. It's hard to explain without some examples.
haha! LOL! ok then will have to wait for it, but i can say i get a blurred idea of what you're trying to say

Regards,
Ghous.
I believe . . .
  • #14,932
  • Nov 3, 2008 2:53am Nov 3, 2008 2:53am
ok there is a big bull run on the euro at 1.2870 so load your long and hold this trade for many years if you want to make money! buy silver at the same time and thanks to james 16 for his unlimited generosity!!!
  • #14,933
  • Nov 3, 2008 2:55am Nov 3, 2008 2:55am
Quoting SeekingLight
This pogression is that \"yea, one really never knows what's coming\" progression. IMHO this is pretty much what Mike does, just including a bit more safety with retests and stuff.

Breakouts / TL combos, with textbook outcomes each time. This is a great example(despite it having a ton of delay and struggle on the way) of how these corrective moves sometimes progress, so I'm posting it:

(None of these are edited and were posted to my journal \"along the way\")
...Check out this post (click it) by SL while you're at it, Ghous.
Bundy's status today: "Waiting..."
  • #14,934
  • Nov 3, 2008 2:58am Nov 3, 2008 2:58am
Quoting Bridge
ok there is a big bull run on the euro at 1.2870 so load your long and hold this trade for many years if you want to make money! buy silver at the same time and thanks to james 16 for his unlimited generosity!!!
Humble Lifetime Member
  • #14,935
  • Nov 3, 2008 3:56am Nov 3, 2008 3:56am
Quoting bundyraider
...Check out this post (click it) by SL while you're at it, Ghous.
Yeah this guy is another "HULK" of trading knowledge, thanks for the referance Bundy, enjoyed this post, Thankyou SL

Regards,
Ghous.
I believe . . .
  • #14,936
  • Nov 3, 2008 4:07am Nov 3, 2008 4:07am
Quoting ghous
Haha! funny stuff!

thats one way to go broke hey buddy ..i dont think jim is going to be to happy with that!
  • #14,937
  • Nov 3, 2008 4:13am Nov 3, 2008 4:13am
Quoting bundyraider
No, no. Hang on. I think you've miss-understood. lol

I meant the pullback and the fib. AFTER the break out. I will have to do an example. I'll definitely do one later. It's hard to explain without some examples.
I may be wrong, but if Price has a trendline break out and retraces back to the green box, along with supporting PA, would help confirm a trendline breakout.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,938
  • Nov 3, 2008 4:15am Nov 3, 2008 4:15am
Quoting nAVIN2007
thats one way to go broke hey buddy ..i dont think jim is going to be to happy with that!
I agree, I apologize.

Post deleted.
I believe . . .
  • #14,939
  • Nov 3, 2008 4:17am Nov 3, 2008 4:17am
Quoting jarroo
I may be wrong, but if Price has a trendline break out and retraces back to the green box, along with supporting PA, would help confirm a trendline breakout.
yes i think that's it, let's wait for Bundy to clarify things further...
I believe . . .
  • #14,940
  • Nov 3, 2008 6:13am Nov 3, 2008 6:13am
What do you guys here think about this pin? As what i have read in this thread, this is a pin bar you should trade, shouldn't it? how many percent of win you guys think it is, i hope it gone to 1.5260, stop @ 1.4390, entry at 50% ret of pin @ 1.4600, that's what i planed.
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