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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

  • #19,721
  • Jan 27, 2009 11:12pm Jan 27, 2009 11:12pm
Quoting mbqb11
Hey Pip,

The main thing I am trying to stress, is the amount of traffic this pinbar is in....
Honestly usd/jpy, chf/jpy daily charts look like giant W reversal formations to me with lower lows just being made.

Just cant help shake off this feeling but of course I am most likely wrong.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #19,722
  • Jan 27, 2009 11:32pm Jan 27, 2009 11:32pm
sorry just realize it already discuss and ask before, i just wake up and saw that setup decided to post, i see now it still in traffic and heavy suport, thx mike.
  • #19,723
  • Jan 27, 2009 11:39pm Jan 27, 2009 11:39pm
Quoting Piproo
Thanks for the encouragement
Mike. actually, my trading is very conservative..
Just my two cents Pip.

Good job on the demo trading. This is where we learn, practise and learn. You are following the path much of us have taken. Early on, we look at any opportunity for a gooding looking PA setup to trade.

Searching for location, formation, PPZs and other confluences to develop, so we can trade. We then look at entries a bit more aggressively at 50% & 61.8 retracements, before the break, left eye entries and so on.

I believe this OK to do with demoing, of course. It's part of the learning and confidence building process. We hit a couple a A+ trades which just stand out (see any James16 chart). After awhile you'll notice your most successful trades were the one that stood out amoung the rest. The A+trades, the Mike trades.

You'll say to yourself "that Mike guy is right again". Waiting for the best setup will win every time.

I know each trader will develop their own style of trading over time. But what I do often, and it helps me alot. I ask myself "would Mike take this trade?" More often then not, the voice says "No". But at least I know if I enter, I'll be grabbing pips quickly and getting out of these so-so trades.

Good looking charts by the way.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #19,724
  • Jan 27, 2009 11:52pm Jan 27, 2009 11:52pm
Quoting jarroo
You'll say to yourself "that Mike guy is right again". Waiting for the best setup will win every time.

"would Mike take this trade?"
LOL ! I actually must admit to doing this too sometimes, or Dave is another example I have . . . James himself of course.

It's like the name of a book I once saw , , , "What would Jesus eat?"
  • #19,725
  • Jan 27, 2009 11:58pm Jan 27, 2009 11:58pm
Quoting Jigsaw
Hey Bertie,

I have definately been there,.

1) Watch more pairs
2) I would say still trade the higher timeframes (Daily, 4Hour)
2) I personally sellotape my trading "plan" to the wall beside where I trade, it includes stuff like risk, what I am looking for to take trades, that keeps me disciplined, I am the first person to own up to "shotgunning trades" that get's me NOWHERE
Note - Jim posted a chart within the first 100pages of this thread where he puts rectangles around areas of fibonacci/PPZ confluence. . . When he does this...
Great post here Jig
Indicators show the past. Price Action "Indicates" the future.
  • #19,726
  • Jan 28, 2009 12:08am Jan 28, 2009 12:08am
Quoting jarroo
I like the 1.4000 as resistence then turning into support better then the 1.4050 as well, Jig.
Good analysis that proved to be , If I saw a legitimate close below 1.40 yesterday I was definately taking my ball home.

Quoting Jigsaw
Up to 1.4350 ? ! ? . . . . . . . .
Are you still long Jarroo ?

Bit of a trouble at 1.42 yesterday . . . I wasn't scared . . . That BUOB from 1HR is kicking is up.

Do you see anything on your charts in terms of resistance ? It's relatively clear sailing to 1.4350 in my eyes. . But from .4350 upwards it all seems a little dodgy . . . And increasingly so as you get closer to the .45 . . .

Thoughts ?
  • #19,727
  • Jan 28, 2009 12:23am Jan 28, 2009 12:23am
Quoting jarroo
Just my two cents Pip.

Good job on the demo trading. This is where we learn, practise and learn. You are following the path much of us have taken. Early on, we look at any opportunity for a gooding looking PA setup to trade.

Searching for location, formation, PPZs and other confluences to develop, so we can trade. We then look at entries a bit more aggressively at 50% & 61.8 retracements, before the break, left eye entries and so on.

I believe this OK to do with demoing, of course. It's part of the learning and confidence building process....
Thanks Jaroo. Yes, im trying my best , to be patient.

Yes, I am collecting the charts from this thread for mths. But honestly, it's hard, very hard for me to indentify what's an A+++ setup, I have my favorite setup pattern which im currently comfortable with. but not sure A+++ or not.

so wondering , if ppl can mark A+, or A, or A- basing on own standard when posting charts, spcially from u senior guys, it will help a lot . (dont mark during the trade but after, I really want to learn but not follow)
  • #19,728
  • Jan 28, 2009 12:26am Jan 28, 2009 12:26am
Quoting Jigsaw
Good analysis that proved to be , If I saw a legitimate close below 1.40 yesterday I was definately taking my ball home.



Are you still long Jarroo ?

Bit of a trouble at 1.42 yesterday . . . I wasn't scared . . . That BUOB from 1HR is kicking is up.

Do you see anything on your charts in terms of resistance ? It's relatively clear sailing to 1.4350 in my eyes. . But from .4350 upwards it all seems a little dodgy . . . And increasingly so as you get closer to the .45 . . .

Thoughts ?
Yes, I got in on the break of this grouping of PBs (1.4024). I didn't want to post it because its a bit off the trail. But it looked good for a small position trade.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #19,729
  • Jan 28, 2009 12:30am Jan 28, 2009 12:30am
Quoting Piproo
Thanks Jaroo. Yes, im trying my best , to be patient.

Yes, I am collecting the charts from this thread for mths. But honestly, it's hard, very hard for me to indentify what's an A+++ setup, I have my favorite setup pattern which im currently comfortable with. but not sure A+++ or not.

so wondering , if ppl can mark A+, or A, or A- basing on own standard when posting charts, spcially from u senior guys, it will help a lot . (dont mark during the trade but after, I really want to learn but not follow)
Check james16 charts and Mike's charts over and over again.

Like I said, your coming along nicely. It's just a matter of time and you'll get there.
Indicators show the past. Price Action "Indicates" the future.
  • #19,730
  • Jan 28, 2009 12:47am Jan 28, 2009 12:47am
Quoting Jigsaw
Do you see anything on your charts in terms of resistance ? It's relatively clear sailing to 1.4350 in my eyes. . But from .4350 upwards it all seems a little dodgy . . . And increasingly so as you get closer to the .45 . . .

Thoughts ?
I see a clear shot as well to the 1.4350. Consolidating at that level would make me hang on a lot longer.
Indicators show the past. Price Action "Indicates" the future.
  • #19,731
  • Jan 28, 2009 12:47am Jan 28, 2009 12:47am
Quoting jarroo
Check james16 charts and Mike's charts over and over again.

Like I said, your coming along nicely. It's just a matter of time and you'll get there.
Cheers, Jarro , honestly, im on page 250 again

my 2 cents on g/u, ur target area. I think it's a really good idea for tp....well, I didnt join the long because it's a counter trend.

I found heavy confluence in this area, TL, fibo 61, and my ema 21. and the resistence (or ppz?).

So will u guys looking for PA to short in this area too?
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  • #19,732
  • Jan 28, 2009 12:55am Jan 28, 2009 12:55am
CHART
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  • #19,733
  • Jan 28, 2009 1:00am Jan 28, 2009 1:00am
Quoting jarroo
Yes, I got in on the break of this grouping of PBs (1.4024). I didn't want to post it because its a bit off the trail. But it looked good for a small position trade.
, Nice trade bro. I am in off of the 15Min from the 1.36 area. . Small stop loss and .5% of a position. This material really just gives and keeps on giving. . . If I only have to work ethic to take from it. Probably one of the best trades I have ever taken. What am I saying, it IS the best single trade I have taken.

I will definately be happy to see this one off at .4350 . . . Not quite the cool emotionless warrior of the markets that my mind sometimes like to think of myself as. . . I was thinking about it all last night. All I need now is for London to blast it north, Although depending on price action on the lower TF's (:nerd:blush: I might hedge or possibly close it out.

Good support to be had now around .42 . . .
  • #19,734
  • Jan 28, 2009 1:00am Jan 28, 2009 1:00am
Quoting Piproo

So will u guys looking for PA to short in this area too?
  • #19,735
  • Jan 28, 2009 1:04am Jan 28, 2009 1:04am
Quoting james16
CHART
Price rarely lies . .

Great chart sir

Regards,
Thomas
  • #19,736
  • Jan 28, 2009 1:17am Jan 28, 2009 1:17am
sometime im gonna take a break from pip hunting and return to the homeland and do a little eel hunting with jig. in fact my guess is some beers and eel hunting would be a lot of fun.

Quoting Jigsaw
Price rarely lies . .

Great chart sir

Regards,
Thomas
  • #19,737
  • Jan 28, 2009 1:22am Jan 28, 2009 1:22am
Quoting james16
CHART
Honestly, since I started following PA, I never......look at fundemantal stuff....and honestly, I never consider so called psyco level like 00...

Should I?
  • #19,738
  • Jan 28, 2009 1:49am Jan 28, 2009 1:49am
Quoting james16
sometime im gonna take a break from pip hunting and return to the homeland and do a little eel hunting with jig. in fact my guess is some beers and eel hunting would be a lot of fun.
Oh yes !

Over here :


http://www.roadtoireland.eu/ireland_provinces.gif

Doing a bit of :

http://eelfishing.co.uk/eel_clip_image004.jpg

And some of this :

http://www.peeledcarrots.com/wp-cont...od-for-you.jpg

= Good times !

Now you said it Jim !
  • #19,739
  • Jan 28, 2009 2:05am Jan 28, 2009 2:05am
Quoting james16
CHART

Thanks James,
A clear case of trade what you see not what you think.
I didn't take the trade as I spent too much time mulling over all the bad news coming out of the UK at the moment and thought the Pound was doomed again this week.
I think it comes down to trusting in what the charts show you and having enough belief and confidence in yourself to follow it through.

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #19,740
  • Jan 28, 2009 2:26am Jan 28, 2009 2:26am
morning to all
sorry had system malfunction earlier but im back now
im still short on cadchf since yday, has been quiet
anyways time to look at other potential trades
hope u guys r doing good
cheers
Simplicity is the key to success
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