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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

  • #17,161
  • Dec 18, 2008 2:53pm Dec 18, 2008 2:53pm
Quoting emda
I expect a crazy crazy friday
It's already Friday
Patience + Humility + Study = Success
  • #17,162
  • Dec 18, 2008 3:00pm Dec 18, 2008 3:00pm
Quoting bundyraider
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!

Same to you Bundy. You have a great Christmas and New Year if we don't see ya.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #17,163
  • Dec 18, 2008 3:03pm Dec 18, 2008 3:03pm
Quoting DutchTrader
Forming a nice pin to the other side on the daily
looks short of a pin by about 70 pips
  • #17,164
  • Dec 18, 2008 3:04pm Dec 18, 2008 3:04pm
I like this setup, trend , pin bar with trend
but... nothing it happens sometimes:-)

http://img201.imageshack.us/img201/1295/gu5ia5.gif
  • #17,165
  • Dec 18, 2008 3:05pm Dec 18, 2008 3:05pm
Quoting Interceptor
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...
You seem to have it. One must be consistently profitable on the daily and weekly before graduating to smaller time frames.
  • #17,166
  • Dec 18, 2008 3:14pm Dec 18, 2008 3:14pm
Quoting Interceptor
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...
Hi Interceptor,

I understand where you are coming from. It can make you feel like you're missing out on something when others are trading shorter time frames. It can make you take trades that you're not ready to take. I think a lot of people feel the need to trade and because there aren't as many setups on the higher time frames, smaller tf trades are searched for (I do this too !). Lack of setups can also make one take less than A+ setups which I'm guilty of too so I am talking from experience !

Good luck,

Joe

My advice is to try and ignore the shorter tf trades and stick to daily and above. Today there are a number of daily tf setups. When/if you get good at higher tf then demo on lower time frames.
  • #17,167
  • Dec 18, 2008 3:25pm Dec 18, 2008 3:25pm
good common sense advice. the only thing i would add is this.

if you simply MUST trade intraday time frames for gods sake do it on demo until you have proven you can do it with success.

jim

Quoting GetSmart
Hi Interceptor,

I understand where you are coming from. It can make you feel like you're missing out on something when others are trading shorter time frames. It can make you take trades that you're not ready to take. I think a lot of people feel the need to trade and because there aren't as many setups on the higher time frames, smaller tf trades are searched for (I do this too !). Lack of setups can also make one take less than A+ setups which I'm guilty of too so I am talking from experience !

Good luck,

Joe

My advice is to try and ignore...
  • #17,168
  • Dec 18, 2008 3:30pm Dec 18, 2008 3:30pm
go to the guest area of the site and read "so you want to be a trader?" and "minimum requirenments". most wont follow its advice but im not trying to reach the most that wont....just the few that will.

jim



Quoting Interceptor
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...
  • #17,169
  • Dec 18, 2008 3:38pm Dec 18, 2008 3:38pm
If it close like this at the end of the day ...will it be a nice set-up...confused...it is EURUSD...!!!?
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  • #17,170
  • Dec 18, 2008 4:02pm Dec 18, 2008 4:02pm
Quoting james16
most wont follow its advice but im not trying to reach the most that wont....just the few that will.

jim
Wow, that's a powerful line. Nice.

I say that only because it wasn't until I followed the advice did things starting turning around for me. Prior to that, I was lost trading wise.
Indicators show the past. Price Action "Indicates" the future.
  • #17,171
  • Dec 18, 2008 4:04pm Dec 18, 2008 4:04pm
Quoting faltuuse
If it close like this at the end of the day ...will it be a nice set-up...confused...it is EURUSD...!!!?
I would say yes it has potential. Where are your PPZ levels?
Indicators show the past. Price Action "Indicates" the future.
  • #17,172
  • Dec 18, 2008 4:12pm Dec 18, 2008 4:12pm
Quoting james16
go to the guest area of the site and read "so you want to be a trader?" and "minimum requirenments". most wont follow its advice but im not trying to reach the most that wont....just the few that will.

jim

Hey Jim,

It is a powerful line as Jarroo just mentioned !

I like your "occupation" as "seeker"..... Didn't know you were into 60's Aussie Folk influenced bands !

Joe
  • #17,173
  • Dec 18, 2008 4:13pm Dec 18, 2008 4:13pm
Thanks all who responded.
I still don't understand why, if higher timeframes are more powerful(ie successful), anybody feels so bored with their lives that they just HAVE to go lower in order to be doing something.
Cheers, and an excellent holiday to all.
  • #17,174
  • Dec 18, 2008 4:16pm Dec 18, 2008 4:16pm
Quoting Interceptor
Thanks all who responded.
I still don't understand why, if higher timeframes are more powerful(ie successful), anybody feels so bored with their lives that they just HAVE to go lower in order to be doing something.
Cheers, and an excellent holiday to all.
A man after Jim's heart. lol

Very well said sir.
Indicators show the past. Price Action "Indicates" the future.
  • #17,175
  • Edited 4:32pm Dec 18, 2008 4:22pm | Edited 4:32pm
Ok folks,

So here is a setup that I'm not sure whether to play or not. BEOB on the daily audusd.

1. Would you classify this as an A trade ?
2. There's nice fib and ppz confluence above or middle of the bar
3. But there's minor ppz, support and resistance at .6750, at break of the bar

Would you wait for a break and retrace or pure break ? Perhaps its in a little too much traffic.

Appreciate your thoughts,

Joe

ps. also applies to BUOB on the USDCAD
Attached Image
  • #17,176
  • Dec 18, 2008 4:27pm Dec 18, 2008 4:27pm
Quoting Interceptor
Thanks all who responded.
I still don't understand why, if higher timeframes are more powerful(ie successful), anybody feels so bored with their lives that they just HAVE to go lower in order to be doing something.
Cheers, and an excellent holiday to all.
Greed and impatience is the correct answer, I think :-)
Cheers
  • #17,177
  • Dec 18, 2008 4:37pm Dec 18, 2008 4:37pm
Quoting Interceptor
Thanks all who responded.
I still don't understand why, if higher timeframes are more powerful(ie successful), anybody feels so bored with their lives that they just HAVE to go lower in order to be doing something.
Cheers, and an excellent holiday to all.
Good point. I guess it's just an appetite for risk ?
  • #17,178
  • Dec 18, 2008 4:38pm Dec 18, 2008 4:38pm
I am considering this pair. Looks clear for at least 1R:1R. Bottom of monthly ppz area and could ride this for awhile. Daily divergence.
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  • #17,179
  • Dec 18, 2008 4:39pm Dec 18, 2008 4:39pm
ok with such a daily candle on EURUSD... I am going to scale in a short for tomorrow at fibs levels of today's range.
  • #17,180
  • Dec 18, 2008 4:39pm Dec 18, 2008 4:39pm
Quoting ghous
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.
Wow!! I trade PAs except IBs and I haven't seen a A+ setup on the dailies for at least 2 weeks and you found all of four. Damn!!! I think I'm missing something so I'll take a second look. Do you mind saying which ones you're in?
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