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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

  • #18,521
  • Jan 14, 2009 3:17am Jan 14, 2009 3:17am
Hello,

Anyone else taking the 4hr pb on the eur?
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  • #18,522
  • Jan 14, 2009 3:24am Jan 14, 2009 3:24am
yea how far do you think i should ride it up to?
  • #18,523
  • Jan 14, 2009 3:24am Jan 14, 2009 3:24am
Quoting y.caesar
Hello,

Anyone else taking the 4hr pb on the eur?
The market is not at a good bargain price ...theirs supply but probably not enough
  • #18,524
  • Jan 14, 2009 3:44am Jan 14, 2009 3:44am
Quoting tehuringa
Anyone catch that inside bar break on the AUDUSD??

Good for some pips right to where you'd expect it to stop...... at the round number PPZ

Can it be call counter trend trade which the RR is higher? Im on my way down for this pair...
  • #18,525
  • Jan 14, 2009 3:47am Jan 14, 2009 3:47am
Quoting ownenated
yea how far do you think i should ride it up to?
Hi Ownenated, GRats on the first post mate.

I've got 1.3070 ...So watch out anywhere from 1.3050 to 1.3100 for starters.

Edit: Not in on that, by the way.
Bundy's status today: "Waiting..."
  • #18,526
  • Jan 14, 2009 4:07am Jan 14, 2009 4:07am
BEOVB on most USD crosses and JPY crosses 4hr tf
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #18,527
  • Jan 14, 2009 4:17am Jan 14, 2009 4:17am
Quoting Almfx
BEOVB on most USD crosses and JPY crosses 4hr tf
ALM
Be careful ALM, the markets are'nt in the most normal of state...

Play it safe...:

Regards,
Ghous.
I believe . . .
  • #18,528
  • Jan 14, 2009 4:19am Jan 14, 2009 4:19am
As I'm in the UK I naturally use GMT for my charts and tend to bias my analysis to 1H charts as that way I know everyone can see what I can. Occassionally I will look at the close one hour after GMT 4H as this would reflect EST 4H.

Does anyone switch their chart clock between GMT/EST to reflect the market they are in at the time?
  • #18,529
  • Jan 14, 2009 4:20am Jan 14, 2009 4:20am
Quoting ghous
Be careful ALM, the markets are'nt in the most normal of state...

Play it safe...:

Regards,
Ghous.
Thanks for your concerns mate!
I know the market can reverse anytime, I am planning to trail behind the price!
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #18,530
  • Jan 14, 2009 4:42am Jan 14, 2009 4:42am
Ghous,

Have read some of your posts recently and must agree with your assessment of the higher TFs as recommended by Jim, Mike etc. Back in Oct/Nov I was getting a lot of winning trades (17/19) using the J16 methods, but I became a bit cocky and started to make a lot of silly mishtakes on the lower TFs and my losing trades increased a lot.

So, have decided to go back to higher TFs for a while and hey, presto, have had a couple of good winning trades on the weeklies (CAD/jy+Nz/US) already this week. It proves what you guys say and anyone still learning the game should heed this great advice.

I would like to eventually go down to shorter TFs when I have the confidence but that is a while away just now. Just one aside, I am now trading microlots as I feel that my discipline is better with just a little money on the line rather than none at all.

Berti
PA is where its at!!
  • #18,531
  • Jan 14, 2009 4:45am Jan 14, 2009 4:45am
Just as a follow on from last post, I shorted the weekly pins on CAD/JY and NZ/USD. Maybe could have held on(patience required) but took profits when my charts showed ppz on 4h.
PA is where its at!!
  • #18,532
  • Jan 14, 2009 4:55am Jan 14, 2009 4:55am
I was doing well on Daily with demo and I too have had many losers trading Hourly.

I think the difficult bit is to have the discipline to hold the winners for longer on the higher timeframes. If you can master that then thats half the battle
  • #18,533
  • Jan 14, 2009 5:17am Jan 14, 2009 5:17am
Quoting bertie123
Ghous,

Have read some of your posts recently and must agree with your assessment of the higher TFs as recommended by Jim, Mike etc. Back in Oct/Nov I was getting a lot of winning trades (17/19) using the J16 methods, but I became a bit cocky and started to make a lot of silly mishtakes on the lower TFs and my losing trades increased a lot.

So, have decided to go back to higher TFs for a while and hey, presto, have had a couple of good winning trades on the weeklies (CAD/jy+Nz/US) already this week. It proves what you guys say and anyone still...
great stuff Berti

You must consider yourself extremely fortunate to have made such a sensible descision,

Wish you all the best of luck Mate

Regards,
Ghous.
I believe . . .
  • #18,534
  • Jan 14, 2009 5:19am Jan 14, 2009 5:19am
Quoting advfntrader
I was doing well on Daily with demo and I too have had many losers trading Hourly.

I think the difficult bit is to have the discipline to hold the winners for longer on the higher timeframes. If you can master that then thats half the battle
You've hit the nail on the head bro,

the only contradiction i have to the post above is that mastering the higher tfs is'nt victory over half the battle...

IMO It has to be a lot more then half...

Regards,
Ghous.
I believe . . .
  • #18,535
  • Jan 14, 2009 5:42am Jan 14, 2009 5:42am
Ghous,

Thanks for the encouragement. The time taken by guys like you, Jarroo, mike and james, etc to help and encourage us lesser mortals just makes me more determined to succeed at this game!

cheers,

berti
PA is where its at!!
  • #18,536
  • Jan 14, 2009 7:02am Jan 14, 2009 7:02am
Quoting Almfx
BEOVB on most USD crosses and JPY crosses 4hr tf
ALM
I like these Alm. Not sure what the "normal state" is there ghous.

charts to follow.
Indicators show the past. Price Action "Indicates" the future.
  • #18,537
  • Jan 14, 2009 7:12am Jan 14, 2009 7:12am
Hi there
A question if I may;
I entered this latest daily PB(USD/CAD) upon break of the bottom of the PB. However, price seems to be reversing somewhat.
Could anybody be so good as to criticise my entry, and perhaps explain why it may not be a good one? Or is this current price action within 'normal' parameters?
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  • #18,538
  • Jan 14, 2009 7:15am Jan 14, 2009 7:15am
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #18,539
  • Jan 14, 2009 7:17am Jan 14, 2009 7:17am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
Gbp/Usd:
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #18,540
  • Jan 14, 2009 7:18am Jan 14, 2009 7:18am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
Euro:
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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