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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

  • #18,661
  • Jan 15, 2009 4:51am Jan 15, 2009 4:51am
Quoting ghous
Be patient mate

Like most of the successfuly ppl here go through the entire thread, the answer to the question above is'nt what a post or two can handle, the entire thread is the answer

Go through this whole thing, it may look long and a tiring job at first but most infact all of us felt this way and in the ended up reading the thread more than once Such is the information contained in this thread.

"Go through the entire thread" is the best advice anyone here can give you.

Regards,
Ghous.
Thanks fo being informative I appreciate it. I will try my best I have been going through the thread bit by bit but I thought maybe I am missing something thats why I thought it will be nice to ask.
  • #18,662
  • Jan 15, 2009 5:09am Jan 15, 2009 5:09am
Quoting yetibol
Hi Jim,
I am just a newbie to your thread and I find it educational, I have understood the Double/triple High and Low bar but may I know what bar triggers your buy or sell signal and what are the criterias I need to look for to buy/sell.
G'day,

Welcome to the thread.....I have to agree with Ghous that reading this thread....I know it looks long and daunting.....will be the best move you've ever made and will improve your trading beyond your expectations.

There are some great videos on the guest section of the James 16 website that I recommend your look at...... Mikes video called Pin Bar introduction would be a good place to start. You can just trade pin bars alone and totally transform your trading.

Cheers

Dave
  • #18,663
  • Jan 15, 2009 5:10am Jan 15, 2009 5:10am
And of course ....read this

http://www.james16group.us/Guests/mi...uirements.html

  • #18,664
  • Jan 15, 2009 5:17am Jan 15, 2009 5:17am
Quoting fxprocessor
Brent Crude March is the chart I posted.
Sorry, I didn't see March anywhere and thought it was the Feb chart.
For March it is correct.
  • #18,665
  • Jan 15, 2009 5:19am Jan 15, 2009 5:19am
Hi guys,

Anyone got good exit strategies for weekly trades? I shorted both CAD/JY and NZ/US (pins) and made a good load of pips, but came out too early as I could have doubled my pips if I had stayed in till just now. I am getting encouraged by the weeklies as there have been loads of good setups in the past couple of weeks. Just wanted to know if people apply the same exit strategies on the weeklies as they do on the dailies, 4hr etc?
PA is where its at!!
  • #18,666
  • Jan 15, 2009 5:28am Jan 15, 2009 5:28am
Quoting jarroo
Looks like the PB wasn't big enough or strong enough to get even a wimper down move. It tells me that the uptrend is pretty strong. Bullish PA is what I would be looking for around the PPZ,
Is that not a BUOB?
  • #18,667
  • Jan 15, 2009 5:33am Jan 15, 2009 5:33am
Quoting xcov
Is that not a BUOB?
The one after the pin bar yes....but you dont whant to buy into a market going up since its not a bargain and the more price goes up the more sellers gather because it becomes more of a bargain for them....
  • #18,668
  • Jan 15, 2009 5:40am Jan 15, 2009 5:40am
Quoting bertie123
Hi guys,

Anyone got good exit strategies for weekly trades? I shorted both CAD/JY and NZ/US (pins) and made a good load of pips, but came out too early as I could have doubled my pips if I had stayed in till just now. I am getting encouraged by the weeklies as there have been loads of good setups in the past couple of weeks. Just wanted to know if people apply the same exit strategies on the weeklies as they do on the dailies, 4hr etc?
Enter with multiple lots. Drill down to say the 4hr, zoom out and draw in PPZ's (I like to round up or down to the closest round number).....trail it down. Price hits the first PPZ take partial profit and cut down on your exposure or move the stops to break even depending on your risk aversion. If it hits the next profit target, close the lot and move the stops to just above the first profit target.

You'll be surprised how often price will stall at the PPZ's for a breather.
  • #18,669
  • Jan 15, 2009 5:43am Jan 15, 2009 5:43am
Quoting ghous
not A+ ALM....

the shape is good enough the locations is'nt
Hi Ghous,


Since you are talking about the last BEOB signal triggered in the EURUSD 4H charts. I would like to ask you several questions (a newbie, full of confusion in mind!)
1.You see there are two BEOB signal. Would you take them all or just the first?
2. I saw both divergence on MACD of the two. Do not dare to touch any of them.
3. If you take, you take at the 50 ret of the coming bar or take the breakout?
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  • #18,670
  • Jan 15, 2009 5:48am Jan 15, 2009 5:48am
Quoting Shermenator
The one after the pin bar yes....but you dont whant to buy into a market going up since its not a bargain and the more price goes up the more sellers gather because it becomes more of a bargain for them....
Yes I agree with you, I have a sell limit order around the upper area lol...just using buy at the bottom, sell at the top idea..
  • #18,671
  • Jan 15, 2009 5:49am Jan 15, 2009 5:49am
Quoting mbqb11
Hey Ray,

Welcome to the HUGE j16 thread....
Mike,

Thanks for your guidance and thanks james16 for shairng his trading method. I will study more and try to read up the whole thread. Hope I can catch up with you guys soon. By the way, I have a question, must we really join james16 private forum in order to master trading? Can we just learn by reading on this thread. Recently I am having some cashflow problem recently, unable to fork out more cash for james16 private forum. Hope I do not offend anyone by asking this question.
  • #18,672
  • Jan 15, 2009 5:50am Jan 15, 2009 5:50am
Tehuringa,

Thanks for the sound advice man. Yes, I do sometimes target eg 4hppz but I am not yet fully confident in the placing of my ppz lines on the charts. You say that you do try and place yours near round numbers, do you also look to replace or add to your ppz s at the start of each new week etc?
PA is where its at!!
  • #18,673
  • Jan 15, 2009 5:57am Jan 15, 2009 5:57am
Quoting xcov
Is that not a BUOB?
That sure is and nice bit of observation xcov

I am not jarroo in any regard ofcaorse but if you ask me that BUOB was not tradable. the reason i have (not sure if jarroo has the same reason...) is that the BUOb although indicating bullish strenghth, has'nt been able to "peek" over and above the green rectangle marked as the "ppz zone" by Jarroo.

The rectangle is'nt just a fancy way of showing the "ppz zone" how wide you draw it is actually very important.

Jarroo's rectangle ends somewhere abt 1.235 which has been an impressive region of resistance and a good location for the end of the width of his ppz rectangle.

It would have been great had the BUOB closed above the 1.235 level (hence above jarroo's rectangle) with authority, it did not.

Although you can have a pending order placed above the rectangle instead of taking the break of the BUOb to solve this "a ppz close to PA setup" problem it is certainly not the best, acknowledgment of a greater risk than you would like is imperitave

Regards,
Ghous.
Attached Image
I believe . . .
  • #18,674
  • Jan 15, 2009 6:09am Jan 15, 2009 6:09am
Hi Ghous,


More questions about how to set the target? I mean what is the criteria to deside stay in the market if you have 40 to 50 pips of profit.
I am trading 4H chart. I can not take the such great sl in the daily chart.
My account is really mini. So I can afford to trade 0.2 lots. The question leave for me is either take profit out or stay. The most depressing thing is the profit finally become a loss.

here is the two examples. A BEOB triggered the short on EURUSD. I entered at the breakout. When it came to the resistance, the price was consolidated for a while. There is about 40 pips of profit. So took profit out. Then the price break out again. I missed a huge move.

The second time it is the "fakey" setup in USDCAD 4H charts. I entered at breakout. And put the sl above the pin bar. I learn from last leason. Be greedy for several houndred pips. so I decided to stay and did not move to break even. then I was burnt.

I wish you could share some of your opinione how to trade like this. that really helps me move forward. Thanks a lot
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  • #18,675
  • Jan 15, 2009 7:59am Jan 15, 2009 7:59am
Anybody following the PB on 4h EU?
It's looking good...
  • #18,676
  • Jan 15, 2009 8:02am Jan 15, 2009 8:02am
I am
Quoting xcov
Anybody following the PB on 4h EU?
It's looking good...
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #18,677
  • Jan 15, 2009 8:03am Jan 15, 2009 8:03am
Here goes cable again, anyone looking to take this?
  • #18,678
  • Jan 15, 2009 9:06am Jan 15, 2009 9:06am
Quoting bertie123
Hi guys,

Anyone got good exit strategies for weekly trades? I shorted both CAD/JY and NZ/US (pins) and made a good load of pips, but came out too early as I could have doubled my pips if I had stayed in till just now. I am getting encouraged by the weeklies as there have been loads of good setups in the past couple of weeks. Just wanted to know if people apply the same exit strategies on the weeklies as they do on the dailies, 4hr etc?

This is very impressive
please can you share your entry strategy and stop loss on this 2 trade
that was a 500 pips bar. Do you risk the whole 500pips?
Learning to trade the wkly and daily time frames
  • #18,679
  • Jan 15, 2009 9:09am Jan 15, 2009 9:09am
Quoting xcov
Anybody following the PB on 4h EU?
It's looking good...
Wow...look what happened now...
  • #18,680
  • Jan 15, 2009 9:16am Jan 15, 2009 9:16am
To All Newbies:

I encourage you all to read this thread from beginning to end. And then, read it again, and again, and again. Finally, pay attention to what James and the senior members say and stick to it.

For the last two weeks, I've taken a step back and just started really focusing on s/r, the location of the bars, and divergence via demo. The result: 100% success. This stuff works, but you have to put in the time, be patient, and never give up (now if I can only listen to my own advice).

It's like, I've fallen in love with this method all over again. Thanks James and the rest of the James16 crew.
"Don't trade to trade . . . trade to win." - James16
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