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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

  • #17,141
  • Dec 18, 2008 9:41am Dec 18, 2008 9:41am
Quoting rustyjeff
Yeah, and it keeps getting cuter..
If we close the week somewhere near where we are or a bit lower it makes for a great weekly beob @ a ppz & fib. looking fwd to see how it continues.
of course it may go straight back up.
so that settles it then - we've all decided that EUR has had it's day

everyone sell EUR now

(warning this is not trading advice)
  • #17,142
  • Dec 18, 2008 9:55am Dec 18, 2008 9:55am
Quoting pipsja
Watching the dailies the past few days have been extremely boring. I have decided to concentrate on trading only daily charts before I go lower and have been successful for the past couple of months by taking only A+ setups. The problem is that I have not spotted any of these on the dailies for a long time. In my frustration I took a B trade and failed. It seems that the lower time frame is where all the action is at the moment because all the trades that you guys have been discussing for the past weeks have all been on the 4hr or 1hr. Time was...

Have a look at the euchf.
My entry short on that was a pure break of the daily ib at swing high/ppz & 78% fib. Its been my best trade this week.& it has a good chance to go a lot further.
My best trades or trades that give me the best return are based on dailies/weeklies if not taken purely on a daily or weekly bar.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euchf4.gif Size: 13 KB
  • #17,143
  • Dec 18, 2008 10:00am Dec 18, 2008 10:00am
to early to tell if EURJPY wil form a pin on daily
but look at the 4hr IB - off weekly PPZ and 61fib on 4hr

might be a chance to get in early - if it goes the right way then this will create the pin on the daily anyway.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR_JPY 4hr (17-DEC-08).png Size: 19 KB
Click to Enlarge Name: EUR_JPYdaily (17-DEC-08).png Size: 12 KB
  • #17,144
  • Dec 18, 2008 10:20am Dec 18, 2008 10:20am
Quoting Rainmaker
Jeff, Bundy,

you´re watching this, too?

RM
I was but gotta run out for a while.
could be great RM.
Attached Image (click to enlarge)
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  • #17,145
  • Dec 18, 2008 10:41am Dec 18, 2008 10:41am
Quoting rustyjeff
Yeah, and it keeps getting cuter..
If we close the week somewhere near where we are or a bit lower it makes for a great weekly beob @ a ppz & fib. looking fwd to see how it continues.
of course it may go straight back up.
that is so true
Patience + Humility + Study = Success
  • #17,146
  • Dec 18, 2008 11:11am Dec 18, 2008 11:11am
Quoting pipsja
Watching the dailies the past few days have been extremely boring. I have decided to concentrate on trading only daily charts before I go lower and have been successful for the past couple of months by taking only A+ setups. The problem is that I have not spotted any of these on the dailies for a long time. In my frustration I took a B trade and failed. It seems that the lower time frame is where all the action is at the moment because all the trades that you guys have been discussing for the past weeks have all been on the 4hr or 1hr. Time was...
You qualify for a rude awakening mate as Jim says...

And i am not threatening you, i am warning you.

let me explain why,

You empty all your pockets, your drawers, your bank accounts, all your savings to establish a retail business for you, and you still don't have enough, you go for a bank loan and finally do set up a business. now think abt this, would you want to quit simply because you find dealing with customers extremely boring! Tell that to anybody whose money is what helps the stove cook food twice a day.

It's all abt how serious you are and how much of your remaining life do you want to transform into the one you always dreamt off. Do not forget that even a person without limbs can dream of dancing his heart off in front of thousands of ppl, it's the odd one or two amongst millions of such ppl who will actually add crutches to each limb to give it a fair try, what do you think the rest will do? wake up, shake the head to get rid of the "silly" dream and carry on with the rest of their lives miserably on the wheelchairs.

Believe me you don't have to do so much to trade well, just a proper business mindset and a strong determination to succeed will do. Do you think Jim's a mad guy who will keep trying to exaggerate things out here! does he not know that any newbie in this business could easily get bored on the dailies? why in your opinion does he not want the newbies to face the low tfs? i won't give you the answer you already know it, it's your attitude that won't allow you to see the whole thing as you should.

Today don't want to trade the dailes as you find them boring, tomorrow you won't want to trade the 4H for some other reason, then day after tomorrow you will want to get impressed with the way Ryan (Ryanmcd) trades on the 5M.

If you want success as a newbie it's all there for you on the dailes, the odd few will still make it starting off much lower but you don't want to believe you're one of these even if you are, cuz mathematically you have a higher probability of proving to be an extremely overconfident idiot.

I have just abt graduated from the very early stages of my trading career and i cannot stress enough what the daily runners mean for me.

As for your trades on the daily, you are'nt getting them because you don't want them, I don't trade too many pairs but i am in 4 daily trades and the one least profitable is at 300 pips.

get your attitude right, and you'll get most of it right

Regards,
Ghous.
I believe . . .
  • #17,147
  • Dec 18, 2008 12:02pm Dec 18, 2008 12:02pm
Anyone watching the Chf/Jpy daily?
Patience + Humility + Study = Success
  • #17,148
  • Dec 18, 2008 12:05pm Dec 18, 2008 12:05pm
Quoting rustyjeff
I was but gotta run out for a while.
could be great RM.
Same story here as with EURCHF...did run without looking back. Where have all the pullbacks gone???

RM
  • #17,149
  • Dec 18, 2008 12:05pm Dec 18, 2008 12:05pm
Quoting DutchTrader
Anyone watching the Chf/Jpy daily?
I'm watching it, also watching kiwi, waiting for close and there should be a few good daily setups upon us.
Attached Image (click to enlarge)
Click to Enlarge Name: nz.gif Size: 15 KB
  • #17,150
  • Dec 18, 2008 12:11pm Dec 18, 2008 12:11pm
Hello, could someone post a daily chart of eurchf please ? I can't post a chart right now but I there's a pinbar forming in a great location, 50, 38.2 and 61.8 onfluence + daily support + in the trend direction. It's an A+ setup for sure if it closes that way.
  • #17,151
  • Dec 18, 2008 12:41pm Dec 18, 2008 12:41pm
Quoting boomswitch
Hello, could someone post a daily chart of eurchf please ? I can't post a chart right now but I there's a pinbar forming in a great location, 50, 38.2 and 61.8 onfluence + daily support + in the trend direction. It's an A+ setup for sure if it closes that way.

yup just needs to close abit higher
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_CHF (18-DEC-08).png Size: 17 KB
  • #17,152
  • Dec 18, 2008 12:59pm Dec 18, 2008 12:59pm
Quoting simoncs
yup just needs to close abit higher
Assuming EURCHF closes for the week in this general area, I will be looking to go short on a retrace back... take a look at the weekly... I plan to hold this baby for awhile.
Mr. Trend
  • #17,153
  • Dec 18, 2008 1:00pm Dec 18, 2008 1:00pm
Quoting Rainmaker
Same story here as with EURCHF...did run without looking back. Where have all the pullbacks gone???

RM
I know. Annoying.

That's it for me.
I'm backing out till after the new year. Taken trades the past couple of days that I wouldn't normally take. I think now's the time to enjoy the holiday season. lol

In case I don't drop in, have a good one everybody!
Bundy's status today: "Waiting..."
  • #17,154
  • Dec 18, 2008 1:03pm Dec 18, 2008 1:03pm
Quoting Mr Trend
Assuming EURCHF closes for the week in this general area, I will be looking to go short on a retrace back... take a look at the weekly... I plan to hold this baby for awhile.
Nice.
Bundy's status today: "Waiting..."
  • #17,155
  • Dec 18, 2008 1:08pm Dec 18, 2008 1:08pm
thank you simoncs
  • #17,156
  • Dec 18, 2008 2:14pm Dec 18, 2008 2:14pm
Both Chf/Jpy and nzd/usd are moving well to form some nice PA setups imvho.
Patience + Humility + Study = Success
  • #17,157
  • Dec 18, 2008 2:25pm Dec 18, 2008 2:25pm
Quoting DutchTrader
Anyone watching the Chf/Jpy daily?
I am still long from the pin bar last friday.
  • #17,158
  • Dec 18, 2008 2:28pm Dec 18, 2008 2:28pm
Quoting joebryce
I am still long from the pin bar last friday.
Forming a nice pin to the other side on the daily
Patience + Humility + Study = Success
  • #17,159
  • Dec 18, 2008 2:40pm Dec 18, 2008 2:40pm
Quoting ghous
You qualify for a rude awakening mate as Jim says...

And i am not threatening you, i am warning you.

let me explain why,

You empty all your pockets, your drawers, your bank accounts, all your savings to establish a retail business for you, and you still don't have enough, you go for a bank loan and finally do set up a business. now think abt this, would you want to quit simply because you find dealing with customers extremely boring! Tell that to anybody whose money is what helps the stove cook food twice a day.

It's all...
Sorry to butt in on this, but I am a little confused about something.
Most of the stuff I've read about James16's methodology stresses the longer timeframes-daily charts seem to get the biggest tick. Indeed, a friend of mine is a new-ish member of the J16 group, and he says that this is the case.
Yet, after reading this thread regularly recently, it seems that the vast majority of posters seem to prefer/use 4 hour charts.
Why?
Are daily charts a 'newbie' only experience?
Do long-standing J16 group members 'graduate' onto shorter timeframes?
Or is it a lack of discipline from many regarding 'the need to trade' etc?
Confused.
  • #17,160
  • Dec 18, 2008 2:49pm Dec 18, 2008 2:49pm
I expect a crazy crazy friday
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