james16 Chart Thread | Page 913 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #18,241
  • Jan 11, 2009 3:44pm Jan 11, 2009 3:44pm
Quoting NoBread
No i get that it is neutral after it closed, my question was when i bought the break (over the line) how do you know? because i get whipsawed to death.
Hey NB,

I am a bit confused on your question. What were you trying to buy? Can you clarify a bit thanks

Mike
  • #18,242
  • Jan 11, 2009 3:46pm Jan 11, 2009 3:46pm
Quoting mbqb11
Hey NB,

I am a bit confused on your question. What were you trying to buy? Can you clarify a bit thanks

Mike
Hi Mike Hows the old buddy doing? Wanted to catch you on skype but seems you are not using it
  • #18,243
  • Jan 11, 2009 3:51pm Jan 11, 2009 3:51pm
Quoting belekas
Hi Mike Hows the old buddy doing? Wanted to catch you on skype but seems you are not using it
I'll be sure to hop on a few times this week Shoot me a msg during the week when your around so we can chat


Mike
  • #18,244
  • Jan 11, 2009 3:53pm Jan 11, 2009 3:53pm
Hi James16;
good to have u here today;

A great thread and great work. It is a pitty that not all of us, posters and lurkers, can afford to be on your private group/forum. Your generousity is appreciated by all, keep it up. Thanks a million.

Seboileroom
  • #18,245
  • Jan 11, 2009 3:54pm Jan 11, 2009 3:54pm
Quoting mbqb11
I'll be sure to hop on a few times this week Shoot me a msg during the week when your around so we can chat


Mike
I have already popped a few so when your online just send a reply. Ill be around trading most time of the day this week
  • #18,246
  • Jan 11, 2009 3:58pm Jan 11, 2009 3:58pm
I guess I have a little trouble with s&r because i never am sure if i have them right, i got stoped on aud usd last week as well just to watch it go my way.
I posted another pic and i guess mike what i am trying to get at is how do you know when it is a ture break. Should i have waited for the candle to close? Then taken the next? but that one fell as well ( as jim would say to the pip) off the next resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: sr.gif Size: 24 KB
  • #18,247
  • Jan 11, 2009 4:06pm Jan 11, 2009 4:06pm
Quoting NoBread
I guess I have a little trouble with s&r because i never am sure if i have them right, i got stoped on aud usd last week as well just to watch it go my way.
I posted another pic and i guess mike what i am trying to get at is how do you know when it is a ture break. Should i have waited for the candle to close? Then taken the next? but that one fell as well ( as jim would say to the pip) off the next resistance area.
Hey NB,

Sorry if I am misunderstanding still, but what it seems you did was just buy for no real reason. I don't see any price action to warrant a buy. Instead it looks like you bought off a neutral bar and then price retested a prior bars high and fell. SO what I mean is there was no PA to tip off to get in anywhere in your chart up there. If you are looking to play a breakout of support/resistance. My prefered method is to wait for a pullback. So if you identify clear resistance above price. You wait for price to break above the resistance, then pull back and to retest this resistance. Look for PA to confirm the test of the resistance turning into support. Just be patient to wait for the clear PA signals, especially on a timeframe like the 4hr. There is never a reason to take anything less then an A trade.

The best thing to do when learning this all would be the following.

Learn to identify the main bar patterns, and the perfect looking ones. For example a big huge pinbar at a swing high/low. Or a big huge BEOB/BUOB. Do all of this on the daily/weekly charts. Mark of the most clear PPZ(support and resistance areas). Focus on trading less and trading the most clear patterns that emerge. This will give you the confidence and discipline to trade better.

Ghous reposted the minimum requirements that James sets out a few posts back. Follow those and you will be on the right path.

Hope that helps
Mike
  • #18,248
  • Edited 8:44pm Jan 11, 2009 4:21pm | Edited 8:44pm
Quoting james16
wish i knew a way to have this greet every new person to this thread.

if i could just convince all of you to do this you would have a real chance at your dream/s.

Awww come on Jim . . I need to make money NOW . . . this month . .this week. Those requirements could take at least 9 months or a year . . maybe even two years. I don't have time for that . . . I just need to . . . . .


. . . . wait a mintue . . . I just had a flash back . .

Sorry about that Jim . . . I just remembered what was going through my head back then. It wasn't until after 9 months or to a year of losses and confusion that I realized the requirements are a powerful teaching and learning tool.

These requirements will test if your serious about trading and if you really want to trade for a living.
If your not able to fullfill the requirements, you may be in the wrong business.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #18,249
  • Jan 11, 2009 4:30pm Jan 11, 2009 4:30pm
I'm also watching this one. Pretty good fib confluence off the 50 and 38 levels.
Attached Image (click to enlarge)
Click to Enlarge Name: euro_chf.gif Size: 13 KB
"Don't trade to trade . . . trade to win." - James16
  • #18,250
  • Jan 11, 2009 4:35pm Jan 11, 2009 4:35pm
@jarroo

Even though I'm not of James16s students I printed it out
the time I came across the beauty of price action.
I too thought I could make more money on M5, M15 timeframes
and that I only had to trade 1-2 hours a day. Boy I was wrong.
Fact is:
1. With the small timeframe my demo was a bloody rollercoaster and
it was very stressful.
2. With daily timeframe 90% of the work is moving stops and locking in profit.
It almost gets boring being profitable.
  • #18,251
  • Jan 11, 2009 4:39pm Jan 11, 2009 4:39pm
Quoting mbqb11
The best thing to do when learning this all would be the following.

Learn to identify the main bar patterns, and the perfect looking ones. For example a big huge pinbar at a swing high/low. Or a big huge BEOB/BUOB. Do all of this on the daily/weekly charts. Mark of the most clear PPZ(support and resistance areas). Focus on trading less and trading the most clear patterns that emerge. This will give you the confidence and discipline to trade better.

Ghous reposted the minimum requirements that James sets out a few posts back. Follow those and...
Great stuff Mike, as always.
Indicators show the past. Price Action "Indicates" the future.
  • #18,252
  • Jan 11, 2009 4:40pm Jan 11, 2009 4:40pm
Quoting Flem26
I'm also watching this one. Pretty good fib confluence off the 50 and 38 levels.
Looks like a bullish flag
Attached Image (click to enlarge)
Click to Enlarge Name: ecx.jpg Size: 109 KB
  • #18,253
  • Jan 11, 2009 5:32pm Jan 11, 2009 5:32pm
Hello,
earlier last week we had a bullish daily pin on aud/usd which did not break, so I just looked at the weekly chart and saw that price bounced on a very good weekly ppz + 50 fib ret. There is no clear PA pattern now but I will look for one to form around 0.6980 probably on a retracement.
What are your thoughts ?
Attached Image (click to enlarge)
Click to Enlarge Name: audusdw1.gif Size: 11 KB
  • #18,254
  • Jan 11, 2009 6:05pm Jan 11, 2009 6:05pm
Hi guys, just wondering..on my Aud/Usd Weekly chart the previous week candle seems like a decent PB, what do you guys see?
I can't post charts right now, got some internet problems..
  • #18,255
  • Jan 11, 2009 6:07pm Jan 11, 2009 6:07pm
Quoting xcov
Hi guys, just wondering..on my Aud/Usd Weekly chart the previous week candle seems like a decent PB, what do you guys see?
I can't post charts right now, got some internet problems..
Hey X

The body and the nose are nearly the same length, in my book that is not a pin. Wait for those big looking pins. They will jump out and smack you in the face

Mike
  • #18,256
  • Jan 11, 2009 6:18pm Jan 11, 2009 6:18pm
Quoting xcov
Hi guys, just wondering..on my Aud/Usd Weekly chart the previous week candle seems like a decent PB, what do you guys see?
I can't post charts right now, got some internet problems..
Here is the chart. Like Mike says, this one is not an "A" pinbar. Check out this video by Mike. It really helped me and others.

http://www.james16group.us/Guests/guestmaterial.html
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 34 KB
  • #18,257
  • Jan 11, 2009 6:18pm Jan 11, 2009 6:18pm
Quoting mbqb11
Hey X

The body and the nose are nearly the same length, in my book that is not a pin. Wait for those big looking pins. They will jump out and smack you in the face

Mike
I agree......you want to look for a big long nose
  • #18,258
  • Jan 11, 2009 7:03pm Jan 11, 2009 7:03pm
thanks thexder,

i was considering this among other things.

jim

Quoting Thexder
Everyone has the authority to edit the first post of their own threads so you could either copy the text into the first post or write a note to refer people to a certain thread post number/page and have them go there.

Some threads that get large have the first post of the thread updated regularly with links to specific posts to keep track.
  • #18,259
  • Jan 11, 2009 7:04pm Jan 11, 2009 7:04pm
good to see you also b,

jim

Quoting belekas
Good to see you around James
  • #18,260
  • Jan 11, 2009 7:06pm Jan 11, 2009 7:06pm
thanks,

its not much by most standards but i know not everyone can do it and to be honest it bugs the crap out of me. thats where this thread comes in.

jim

Quoting seboileroom
Hi James16;
good to have u here today;

A great thread and great work. It is a pitty that not all of us, posters and lurkers, can afford to be on your private group/forum. Your generousity is appreciated by all, keep it up. Thanks a million.

Seboileroom
34 traders viewing now