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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

  • #18,981
  • Jan 18, 2009 3:21am Jan 18, 2009 3:21am
Quoting bundyraider

EUR/JPY

Same as above , but as Belakas said, it didn't close within the previous bar, so it doesn't fit the mould so to speak, and shouldn't be traded as a pin. ...good retracement though. ...Something doesn't look right (to me) with this pair, either, for a long.
Looks like its still playing inside its range from 116.40 to 131. I will be buying above resistance or selling below support if the bottom breaks, but somehow its unlikely to happen. Also keeping in mind that the eurodollar looks bottom'ish for now and theres a bullish weekly pin on the Yen

I have posted my analysis at my cave, click on my signature and you will be taken there. Dont want to clutter the forum posting same charts
  • #18,982
  • Jan 18, 2009 3:34am Jan 18, 2009 3:34am
Quoting ghous
Sure Nick

Add to all this the H&S clearly visible on the daily...KABOOM...as Rac puts it
you see chfjpy reaching 85.00 in the coming week?

Ayour2a
  • #18,983
  • Jan 18, 2009 3:45am Jan 18, 2009 3:45am
Quoting ghous
Hi there,

You are absolutely right when you say that the merit of a setup is based entirely off 2 things, Location and Overall look of the bar,

The bar I am referring to is not a Pin bar it is a BUOB

As far as location is concerned the best thing to look for is the confluence

IMO there is sufficeint confluence, illustrated in each of the attatched charts.

Other things you might add in favor of the setup is ofcaorse the fact that it's with the trend

I was referring to the close of the bar above 0.9 as a positive...
Ghous, i would goto H1 TF and analyze e/g a bit more. it look alot more like cup and handle...
  • #18,984
  • Jan 18, 2009 3:55am Jan 18, 2009 3:55am
Hi everyone;

I have been a regular visitor to this thread for a long time, but only made one post. After recently becoming interested in Price Action trading and after studying and learning from some veterans, I decided to be a permanent member of this Great thread, and perhaps, when the time comes, even a James16 group member.

I am currently compiling this thread to form a complete course, I finished the first 50 pages. Even though i will check and read every single page to ensure perfect compilation, any assistance regarding the location of key/major points or new lessons will be much appreciated to help me move on with studying while compiling the complete course.

Thank you all in advance and good trading;

Sebo
  • #18,985
  • Jan 18, 2009 4:13am Jan 18, 2009 4:13am
You won't go far wrong if looking for all posts by MBQB11 and J16. Entire thread is worth reading though.

Quoting seboileroom
Hi everyone;

I have been a regular visitor to this thread for a long time, but only made one post. After recently becoming interested in Price Action trading and after studying and learning from some veterans, I decided to be a permanent member of this Great thread, and perhaps, when the time comes, even a James16 group member.

I am currently compiling this thread to form a complete course, I finished the first 50 pages. Even though i will check and read every single page to ensure perfect compilation, any assistance regarding the location...
  • #18,986
  • Jan 18, 2009 4:17am Jan 18, 2009 4:17am
Quoting ghous
Sure Nick

Add to all this the H&S clearly visible on the daily...KABOOM...as Rac puts it
Hi Ghous,


And the 80.00 round number :-)
  • #18,987
  • Jan 18, 2009 4:45am Jan 18, 2009 4:45am
Quoting seboileroom
Hi everyone;

I have been a regular visitor to this thread for a long time, but only made one post. After recently becoming interested in Price Action trading and after studying and learning from some veterans, I decided to be a permanent member of this Great thread, and perhaps, when the time comes, even a James16 group member.

I am currently compiling this thread to form a complete course, I finished the first 50 pages. Even though i will check and read every single page to ensure perfect compilation, any assistance regarding the location...
welcome to the journey mate
  • #18,988
  • Edited 8:32am Jan 18, 2009 8:18am | Edited 8:32am
Quoting ayour2a
you see chfjpy reaching 85.00 in the coming week?

Ayour2a
Hi Ayour2a,

Yes I have 85 as my first target, on the weekly it seems inevitable...But we'll see...
I believe . . .
  • #18,989
  • Edited 8:39am Jan 18, 2009 8:24am | Edited 8:39am
Quoting mirex
Ghous, i would goto H1 TF and analyze e/g a bit more. it look alot more like cup and handle...
When looking at a tf as high as daily, action on the 1H is irrelavant...

PS this is not my style nor is it coming from my set of prefernces, you need to take it as a law

Cheers

Regards,
Ghous.
I believe . . .
  • #18,990
  • Jan 18, 2009 8:37am Jan 18, 2009 8:37am
Quoting seboileroom
Hi everyone;

I have been a regular visitor to this thread for a long time, but only made one post. After recently becoming interested in Price Action trading and after studying and learning from some veterans, I decided to be a permanent member of this Great thread, and perhaps, when the time comes, even a James16 group member.

I am currently compiling this thread to form a complete course, I finished the first 50 pages. Even though i will check and read every single page to ensure perfect compilation, any assistance regarding the location...
Hi Sebo,

That would be extremely kind of you. We see ppl come in to the thread and see them vanish in thin air.

Very few want to make their learning curves a "forever help" for future newbies, I was planning a similiar document in a few months time, it is going to be hard work ofcaorse but would be a great addition to the first page. it would be great if you can come up with a document too

PS welcome to the magnificent thread!

Regards,
Ghous.
I believe . . .
  • #18,991
  • Edited 8:50am Jan 18, 2009 8:39am | Edited 8:50am
Quoting ghous
When looking at a tf as high as daily, action on the 1H is irrelavant...

Cheers

Regards,
Ghous.
You're right but you can make use of trend within a tend method or use the intermediate TF between them e.g 4hrs

"IF YOU GIVE A MAN A FISH - HE WILL HAVE A SINGLE MEAL. IF YOU TEACH HIM HOW TO FISH - HE WILL EAT ALL HIS LIFE"
  • #18,992
  • Jan 18, 2009 8:40am Jan 18, 2009 8:40am
Quoting fxprocessor
Hi Ghous,


And the 80.00 round number :-)
I get a feeling we might want to test this level first before the uptrend resumes

My order will ofcoarse lie in ambush 20 pips from the high of the Pin Bar

Regards,
Ghous.
I believe . . .
  • #18,993
  • Jan 18, 2009 8:42am Jan 18, 2009 8:42am
Quoting Fx Referee
You're right but you can make use of trend with a tend method or use the intermediate TF between them e.g 4hrs

"IF YOU GIVE A MAN A FISH - HE WILL HAVE A SINGLE MEAL. IF YOU TEACH HIM HOW TO FISH - HE WILL EAT ALL HIS LIFE"
That's a great qoute...

Thanks Fx referee...

Regards,
Ghous.
I believe . . .
  • #18,994
  • Jan 18, 2009 9:03am Jan 18, 2009 9:03am
Quoting ghous
That's a great qoute...

Thanks Fx referee...

Regards,
Ghous.
Thanks a million Ghous for your words.
I was one time a member at James16 group which i learnt father of Fx systems PRICE ACTION, no price action no trade for me.

I make it as my head of my trading system and today it has make me some good stuff.

You guyz are good, please keep it up.

"IF YOU GIVE A MAN A FISH - HE WILL HAVE A SINGLE MEAL. IF YOU TEACH HIM HOW TO FISH - HE WILL EAT ALL HIS LIFE"
  • #18,995
  • Jan 18, 2009 9:17am Jan 18, 2009 9:17am
Ghous,

Wouldn't that be a reverse head and shoulder as the head is lower than the shoulders?
Patience + Humility + Study = Success
  • #18,996
  • Jan 18, 2009 10:34am Jan 18, 2009 10:34am
Quoting ghous
When looking at a tf as high as daily, action on the 1H is irrelavant...

PS this is not my style nor is it coming from my set of prefernces, you need to take it as a law

Cheers

Regards,
Ghous.

yes i agree, the thing is it play out in such a short time, that daily might be clouding the underlying directions.

monthly is still down, weekly is DBLHC, but is it really? if so, why did the price not close higher on the bar but toward the middle? 4h, if it's so strong, why was the high of that bar cant even breach the high of the previous bar?
  • #18,997
  • Jan 18, 2009 11:01am Jan 18, 2009 11:01am
Quoting mirex
yes i agree, the thing is it play out in such a short time, that daily might be clouding the underlying directions.

monthly is still down, weekly is DBLHC, but is it really? if so, why did the price not close higher on the bar but toward the middle? 4h, if it's so strong, why was the high of that bar cant even breach the high of the previous bar?
I am not sure exactly what you're trying to deliver here

If all of the above are questions you want answered then...

Th monthly is not down for me atall, it was just a pullback to a level as important and a number as round as 0.9. Even when the monthly is bearish to me it's still a very good bull sign for me given the market mechanism tends to use support at a prior resistance region and vice versa.

the weekly is not a DBLHC by any means it's a TBL i.e a Two Bar Low. But I don't consider this particular PA setup much, honestly the weekly is'nt as interesting as the daily and the monthly are.

I don't what to say abt that 4H query lol! I mean why would you want a close higher than the previous bar here? It's a double bottom setup. simple as that

Regards,
Ghous.
I believe . . .
  • #18,998
  • Jan 18, 2009 11:03am Jan 18, 2009 11:03am
Quoting DutchTrader
Ghous,

Wouldn't that be a reverse head and shoulder as the head is lower than the shoulders?
Yeah right, I missed that point.

Thnx Buddy!

Regards,
Ghous.
I believe . . .
  • #18,999
  • Jan 18, 2009 11:05am Jan 18, 2009 11:05am
My question is regarding the weekly tf will you put your order before the market opens on sunday night (Friday closing price) or when the market closes on sunday night (Sunday closing price). When do the prices for the week really start?
  • #19,000
  • Jan 18, 2009 11:07am Jan 18, 2009 11:07am
Quoting Fx Referee
Thanks a million Ghous for your words.
I was one time a member at James16 group which i learnt father of Fx systems PRICE ACTION, no price action no trade for me.

I make it as my head of my trading system and today it has make me some good stuff.

You guyz are good, please keep it up.

"IF YOU GIVE A MAN A FISH - HE WILL HAVE A SINGLE MEAL. IF YOU TEACH HIM HOW TO FISH - HE WILL EAT ALL HIS LIFE"
No worries Bro,

C ya around

Regards,
Ghous.
I believe . . .
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