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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

  • #20,781
  • Feb 8, 2009 7:18pm Feb 8, 2009 7:18pm
Yen pairs have been starting to reverse and some pairs are at the first important resistance now. For Nzd/Jpy i am curious what will happen at 50...
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  • #20,782
  • Feb 8, 2009 8:26pm Feb 8, 2009 8:26pm
Is anyone else taking this trade?

I'm thinking of taking profits after 90 pips at 1.7900 and setting the stop to b/e to let it run. The only issue I have is that the high of the pin is 1.8413 on my feed so its about a 430 pip stop loss.
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  • #20,783
  • Feb 8, 2009 8:27pm Feb 8, 2009 8:27pm
Quoting jarroo
I told you that feed is magical.
I feel like I am being jipped on my ibfx feed, should i consider changing my feed to fxpro? Is this an issue for anyone else, and have they switched because of lack of signals? Or does it just not really matter because ibfx will have signals fxpro doesnt? Thought?
  • #20,784
  • Feb 8, 2009 9:47pm Feb 8, 2009 9:47pm
James uses ibfx, some weeks ibfx has signals that fxpro doesn't.
  • #20,785
  • Feb 8, 2009 10:07pm Feb 8, 2009 10:07pm
Hi guys,

Just need opinion about the USDCAD PB on H4. This is just learning process questions.

I think this is not a good pinbar and not a tradable PB, though I like the formation of the PB.

Location analysis:
Pros:
It bounces from daily PPZ (round number) and daily trendline.
Cons:
Directly going into congestion area, the downmove prior to the PB was sort of full of momentum.

So, what do you guys think? Am I on the right track?
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  • #20,786
  • Feb 8, 2009 10:58pm Feb 8, 2009 10:58pm
Quoting arcus
Hi guys,

Just need opinion about the USDCAD PB on H4. This is just learning process questions.

I think this is not a good pinbar and not a tradable PB, though I like the formation of the PB.

Location analysis:
Pros:
It bounces from daily PPZ (round number) and daily trendline.
Cons:
Directly going into congestion area, the downmove prior to the PB was sort of full of momentum.

So, what do you guys think? Am I on the right track?

Good analysis IMO. I think there is way too much traffic to be taking this pin although the formation is pretty decent(could have a longer nose though). Those bar lows directly to the left of that scare me.
  • #20,787
  • Feb 9, 2009 12:55am Feb 9, 2009 12:55am
Quote
Strong pin just formed on gbp/jpy H1, can any james16 pros confirm ?
if u r going to trade 1hr pin with hi success, aside looking for 1. location 2. good pin size 3. non congested area also ensure that big psycological number has rejected the pin. u wont lose money trading this kinda pin
  • #20,788
  • Feb 9, 2009 1:23am Feb 9, 2009 1:23am
Quoting dmc
I feel like I am being jipped on my ibfx feed, should i consider changing my feed to fxpro? Is this an issue for anyone else, and have they switched because of lack of signals? Or does it just not really matter because ibfx will have signals fxpro doesnt? Thought?
Mr. Smith is right. Different feeds will give different signals and I do believe they equal out over time.

It is nice when an "A" trade is confirmed on many feeds. Coincidence? Maybe.

Gotta love your Avatar. Nice. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #20,789
  • Feb 9, 2009 5:01am Feb 9, 2009 5:01am
Quoting james16
wow one of those posts that could get my juices flowing.

everyone thought the world was flat until they sailed over the "edge".

you would be correct mr sing.

let me ask all of you something.

is a real trader someone that takes 2 or 3 trades a month and goes months without a loss?

is a real trader someone that trades 1 hour and sits up all day and night losing all of there money over and over?

is a real trader someone that takes 20 trades a day trying to eek out a living after taxes and commissions?

being a real trader does not mean...
James 16 your post deserves an academy award lol everyone should read this over and over ..
  • #20,790
  • Feb 9, 2009 5:07am Feb 9, 2009 5:07am
Here is a little something o defently pay attention to for price action....make a plan around this area...



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  • #20,791
  • Feb 9, 2009 5:33am Feb 9, 2009 5:33am
As posted by Shermenator we are reaching an interesting zone on Daily GBPCHF.
Confluence of Fibs, PPZ and round number zone.
My concern is that the PA is (for the moment) a bullish one, which is a bit counterintuitive. So the reasonable guess is to stay away.

For the experienced guys, is this the kind of zone you are looking carefully, waiting for a bearish PA figure?
Would a Pin on the 1.7400 level to be a good figure for a bearish trade?

Cheers
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  • #20,792
  • Feb 9, 2009 6:53am Feb 9, 2009 6:53am
Hello Jim, the other masters, all james16 members and readers,

It has been very enrichment everything I've been reading and learning lately on this forum.
Thanks to everyone for sharing your knowledge and experience.

May I have some input about this BUOB on E/U 4h chart?
It broke a trendline but is very close to expected strong resistence near 1.3050. Any ideas?
Thank you in advance.
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  • #20,793
  • Feb 9, 2009 7:20am Feb 9, 2009 7:20am
This may be of interest to Ghous who I believe to have a lot more talent than his account size allows him to make the most of.
http://www.forexfactory.com/showthread.php?t=151783
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #20,794
  • Feb 9, 2009 7:53am Feb 9, 2009 7:53am
Quoting Jim4x
This may be of interest to Ghous who I believe to have a lot more talent than his account size allows him to make the most of.
http://www.forexfactory.com/showthread.php?t=151783
Thnx buddy will check it out

Regards,
Ghous.
I believe . . .
  • #20,795
  • Feb 9, 2009 7:58am Feb 9, 2009 7:58am
Here is one of the sweet setups that popped up lately

Hope Mike's aound...

Nice pin off restest of broken trendline...

(Looks like the rocket is all set to blast off Jig )

tp 1 hit all stops to breakeven, back to the waiting game...

Regards,
Ghous.
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I believe . . .
  • #20,796
  • Feb 9, 2009 7:58am Feb 9, 2009 7:58am
Quoting Luso
Hello Jim, the other masters, all james16 members and readers,

It has been very enrichment everything I've been reading and learning lately on this forum.
Thanks to everyone for sharing your knowledge and experience.

May I have some input about this BUOB on E/U 4h chart?
It broke a trendline but is very close to expected strong resistence near 1.3050. Any ideas?
Thank you in advance.
Hi Luso,

Welcome to the thread!

You're right in identifying both the trendline and more importantly the PPZ at 1.3050. When price is close to a major level of support or resistance like this, you have to work out whether the risk is worth the reward. IMO this clearly is going to fall into the category of not having enough potential for the risk. I'd rather be watching this level for PA around it, rather than trading into it.

I took a trade on this pair earlier today based on the 4h PB that retested the trendline and 4h PPZ at 1.2900. I took this as from here it had plenty of room to move before the PPZ above. Can you see the difference between the two setups in terms of space? I'm all out of this position now... waiting for PA off 1.3050....

Best,

Chris
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  • #20,797
  • Feb 9, 2009 8:04am Feb 9, 2009 8:04am
Quoting ghous
Here is one of the sweet setups that popped up lately
Haha, beat me to it! Nice trade buddy :-)
  • #20,798
  • Feb 9, 2009 8:09am Feb 9, 2009 8:09am
a number of you pointed out beobs/buobs on the weekly tf.

with respect to these here are some trades i am in today.
perhaps not the best looking PA bars but the locations are all good and an early retrace entry to the weekly tf.
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  • #20,799
  • Feb 9, 2009 8:11am Feb 9, 2009 8:11am
Wow, I actually spotted that trade myself, and traded it. Kept refreshing this thread last night, looking for good ideas, but was empty and had to look on my own (oh my). Wasn't sure if it was exactly a james16 type criteria trade, but it just looked so nice, and I couldn't resist. Anyway enough patting myself on the back, just happy, I think I actually have learned something... felt brain dead for the last few weeks. Thanks all for the help as always
  • #20,800
  • Feb 9, 2009 8:13am Feb 9, 2009 8:13am
Quoting Chris P
Haha, beat me to it! Nice trade buddy :-)
lol!

Nice response to Luso's query I was abt to type something untill I read your great post

Regards,
Ghous.
I believe . . .
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