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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

  • #2,881
  • Mar 8, 2007 9:20pm Mar 8, 2007 9:20pm
aud/can .9192 possible short coming to fruition
  • #2,882
  • Mar 9, 2007 5:41am Mar 9, 2007 5:41am
what markets is everyone watching see any setups? why is it that I want to short AD here pretty soon on the daily?
  • #2,883
  • Edited 10:02am Mar 9, 2007 10:00am | Edited 10:02am
hi jim
thanks a lot for sharing ur great ideas
pls let me chick for this
if bars 1&2 are 4 pips apart could be as dbl?
so at bar 3 it closed high enough to break 1&2 and also the trend line
then i applied fib to bar 3 to get 50% and 61% ret of it as long entry
entry at 61 was already hit while writing _ i placed 20 pip target cos i'm afraid_
so was this setup a dblhc or nearly
i appreciate ur comment
regards
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  • #2,884
  • Mar 9, 2007 11:57am Mar 9, 2007 11:57am
check out this opportunity in soyabean meal.
after a steady run up the price paused to catch its breath.
you can see a tight channel.
a dbc first and then a dbl and tight resistance overhead - over the four days the highs were just a few ticks away from one another.
on the fifth day you get your tbl and same day its straight through the resistance.
this could have been played with a trailing stop at the low of each day to capture over 400 ticks in 10 sessions before being stopped out at the top.
Attached Image
  • #2,885
  • Mar 9, 2007 1:12pm Mar 9, 2007 1:12pm
Quoting shamstec
hi jim
thanks a lot for sharing ur great ideas
pls let me chick for this
if bars 1&2 are 4 pips apart could be as dbl?
so at bar 3 it closed high enough to break 1&2 and also the trend line
then i applied fib to bar 3 to get 50% and 61% ret of it as long entry
entry at 61 was already hit while writing _ i placed 20 pip target cos i'm afraid_
so was this setup a dblhc or nearly
i appreciate ur comment
regards
On a 1 hour chart you want your DBL to be exact. 4 pips is too much of a difference on the one hour chart. I also suggest starting on the daily/weekly charts when you are new to this stuff.

Best of luck,
Mike
  • #2,886
  • Mar 9, 2007 2:07pm Mar 9, 2007 2:07pm
Hi all,

Nice chart.It's already fail to make higher high on the last second candle and the last candle already break the inside bar.did u catch it?

have fun with the trade

Quoting the_wizard
check out this opportunity in soyabean meal.
after a steady run up the price paused to catch its breath.
you can see a tight channel.
a dbc first and then a dbl and tight resistance overhead - over the four days the highs were just a few ticks away from one another.
on the fifth day you get your tbl and same day its straight through the resistance.
this could have been played with a trailing stop at the low of each day to capture over 400 ticks in 10 sessions before being stopped out at the top.
  • #2,887
  • Mar 9, 2007 2:35pm Mar 9, 2007 2:35pm
hi mike
thank u very much for lighting this out
by the way in bovb:
- should the first bar be bullish or just it's enough that the second one closes
lower than its open and lower than the 1st's low
i was confused
thanks again
regards
  • #2,888
  • Mar 9, 2007 4:26pm Mar 9, 2007 4:26pm
James16 can you tell me what those lines are on the charts that you displayed on the first few pages of this thread. Are they MA's or fib lines.
Very interesting the explaination you gve with each chart.

Tks for your response.

AceTrader
  • #2,889
  • Mar 9, 2007 4:32pm Mar 9, 2007 4:32pm
Hello Guys,

Wow. I went through the entire thread, took me over 2 weeks

This is an amazing thread, with REAL trading information, setups, ideas. I'm so glad I've found it.

I'm learning trading since last year April. I've managed getting hooked on indicators, systems, scalping, etc. I've opened live account, managed to loose 20%, then since last September I've started seriously studying how to trade on longer TF, H4, and D1. After 2 and a half months of demo, I went back to live trading, and did pretty well, brough my account up, over 15% of my initial amount...just to loose 40% since the end of January.
Now I'm back to demo again.

All this time I've read countless forums, books, and study trading till morning (I work afternoons). I've put so much effort, yet the results weren't promising. It's not what some imagine - course on trading and bang, here we go, joining the millionaires' club. Trading forex is really hard, well, at least for me. And going through hell...well, I think it is necessary at least to some degree
Funny, last few months I've had the feeling that I should stick to trading D1 and take signals/setups from Weekly, etc, but never actually did that.
Imagine my surprise when I've read Jim saying exactly that!
I've also realized how important it is not to see "opportunities" to trade all the time!

Jim and Guys: I must say it again- this is an amazing place! Wish I've found it much earlier!

I did 2 entries on demo: USD/JPY and EUR/GBP, I attach pictures. On USD/JPY SL is already mover, and I closed half of the trade.
Please, tell me how did I do.

Best to You All!

George

PS:
I'm joining PF on Monday, I can afford only a month for now. I've already wrote to Jim and got his reply. Thank you Jim.
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  • #2,890
  • Mar 10, 2007 3:15am Mar 10, 2007 3:15am
Quoting GeorgeW

I did 2 entries on demo: USD/JPY and EUR/GBP, I attach pictures. On USD/JPY SL is already mover, and I closed half of the trade.
Please, tell me how did I do.

George your entries are spot on! looks like you have done your reading so far.

Glad to have you in the PF hope to see you posting inside


Best,
Mike
  • #2,891
  • Mar 10, 2007 5:12am Mar 10, 2007 5:12am
Hello,

does anyone have a printable version of this thread with pics? I know I can switch to a printable chart but it is without the charts which are very important.
I wanted to go through the thread but dont like reading on screen. I might read this thread more than one time so it could be helpful.
Mayby there is a trick not to copy and past each page.

Regards
Kpt
  • #2,892
  • Mar 10, 2007 10:20am Mar 10, 2007 10:20am
The chart is a 4H of EUR/USD. (white line is the 365 ema the 2 yellow lines are the high and low of yesterday's NFP)

My question is how does head and shoulders, triangles, pendants etc fit into trading with PA. If you see a great set up for an up trend using PA but a head and shoulder is forming what would you do?

Thanks

Billser
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It's All About Attitude ...
  • #2,893
  • Mar 10, 2007 11:35am Mar 10, 2007 11:35am
hello ace, give me the post numbers.

jim

Quoting acetrader
James16 can you tell me what those lines are on the charts that you displayed on the first few pages of this thread. Are they MA's or fib lines.
Very interesting the explaination you gve with each chart.

Tks for your response.

AceTrader
  • #2,894
  • Mar 10, 2007 2:57pm Mar 10, 2007 2:57pm
Just A Thought:

The below chart is a 200 ma using fib number levels. The fib lines are set at 13, 34, 55, 89, 144, 233, 377, 610, 987, 1597 with corresponding minus levels. (yes its kinda the same as the Vegas tunnel but using a bigger ma number)

What I find very interesting about the 200 ma and the fib lines is the way that the NFP yesterday bounced right off them.

Any thoughts about this set up with regards to PA.

Thanks
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It's All About Attitude ...
  • #2,895
  • Mar 10, 2007 9:29pm Mar 10, 2007 9:29pm
EUR/USD may retrace and test 1.3130/35 area. In general, I would start to look for James16 Price Action signals around here and ready to go short.

Ken
  • #2,896
  • Mar 10, 2007 10:42pm Mar 10, 2007 10:42pm
Hello James16

The post #'s are: 2,3,5,10,14,16,19 & 30. The line all look the same, but
can't figure them out. Is this your primary method of trading using band
a bar patters? Looks interesting. Tks for your response.

AceTrade
  • #2,897
  • Mar 10, 2007 10:49pm Mar 10, 2007 10:49pm
Hey Ace if you look at post 9, these are the settings of James stuff from back then


Quoting james16
thanks trinity, yes i will post my indicators but going into what i do with them would be to much i think. lets just say i use them as support and resistance levels, they help me to see the big picture. the ma's are simple 21, 79 and 365. the exponential ma is 89. the bands are a keltner channel set at 8,1.3,1.3. i want to take this oppurtunity to thank todd mitchell who taught me much of this. if you ever want to spend two grand and actually come away happy check him out.
  • #2,898
  • Mar 11, 2007 8:15am Mar 11, 2007 8:15am
Quoting SeekingLight
Tiny-Trades on USDJPY 1h, good for 25-60 pips or so...

Always, always, always WAIT FOR RETRACE
hi

should i always wait for ret
what if i got 23% on 1st bar shd i wait the next one
what is the min acceptable ret -for safty-
  • #2,899
  • Mar 11, 2007 8:52am Mar 11, 2007 8:52am
hi everyone

if someone cd help i'd appreciate that so much

please give comment about IB's 1 and 2
how to know if IB is bullish or bearish ??
thank everyone
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  • #2,900
  • Mar 11, 2007 3:38pm Mar 11, 2007 3:38pm
Quoting shamstec
hi everyone

if someone cd help i'd appreciate that so much

please give comment about IB's 1 and 2
how to know if IB is bullish or bearish ??
thank everyone

Hi Sham,

IBs are not bearish, or bullish bars. Theya re a sign of consolidation. The premise behind them is that after a period of consolidation we have a break out. They are usually played with a straddle(ie. a break of the high or low gets us into the market). You can however play a break only one way or the other if your bias is that way.

For example if an IB is sitting on a support line. Your bias would be long(since we have support underneath).

Also may I suggest to use the daily/weekly/monthly. I see a lot of people playing IBs are the 4hour, and to be honest it takes a lot more finesse as you have a lot more falses on the 4hr and under.

Best of luck,
Mike
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