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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

  • #21,581
  • Feb 16, 2009 3:49pm Feb 16, 2009 3:49pm
Quoting Greenhaze
Good spot for shorting e/g if price will make it there. Trendline/fib confluence + fresh s/r flip zone , 0.9200 round number could be good place to look for price reversal.

I agree. I believe that Weekly BEOB is still in play. Looks like we will close again near the Weekly BEOB's previous bar Low, .8960ish level.

(sorry I can't post a current chart. This one is from a previous post
http://www.forexfactory.com/showpost...ostcount=21433 )
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #21,582
  • Feb 16, 2009 4:06pm Feb 16, 2009 4:06pm
Quoting dkmb92
are you still watching this one? last night on my demo i set a buy limit for 130.30 w/ sl at 129.00 & tp way up at 132.50 (next daily ppz?). this morning (est my time) when price was at 131.30, i sold half of my position and moved the sl up to 130.30. from here if it continues to move up, then i will continue to adjust my sl accordingly. i based this move off the continuation of the daily pin from 2/12 & took the price gap over the weekend into consideration. what do you guys think?
Sounds reasonable enough to me. Pin bar retrace into a gap.
  • #21,583
  • Feb 16, 2009 4:24pm Feb 16, 2009 4:24pm
When the market open, on sunday, with a gap, it can form a PB in shape (like the 1h PB on EurUsd on IB fx feed).
For what I've read and understood, it is not a valid PB (despite location) because it is not between the low and high of the previous bar.
Please, someone correct me if I am wrong.
regards
  • #21,584
  • Feb 16, 2009 4:42pm Feb 16, 2009 4:42pm
Wanted to shout out here quickly. I started reading this thread for hours last night and barely put a dent in the 1000+ pages. Was wondering if James16 did actually put together a website and training material. Until then i will keep at it. thank you.

James16, I actually bought todd mitchells course back in october. There was so much volatility in the market that it wasnt working for on the emini s+p. I am sure no fault of the system as that was my 1st experience ever wiht trading. Since your base seems to come from his principals i am very eager to learn with you. I have confidence in his sytem but needed more mentoring than he could give me. Do you read pm's, or can I email you?

Best Regards,
BB
Whats happening in EUR/USD should be happening to you!
  • #21,585
  • Feb 16, 2009 4:46pm Feb 16, 2009 4:46pm
Quoting BullsAndBear
Wanted to shout out here quickly. I started reading this thread for hours last night and barely put a dent in the 1000+ pages. Was wondering if James16 did actually put together a website and training material. Until then i will keep at it. thank you.

James16, I actually bought todd mitchells course back in october. There was so much volatility in the market that it wasnt working for on the emini s+p. I am sure no fault of the system as that was my 1st experience ever wiht trading. Since your base seems to come from his principals i am very eager...
Hi BB,

All the info you need is here.

http://www.james16group.us/

All the best

Dave
  • #21,586
  • Feb 16, 2009 4:46pm Feb 16, 2009 4:46pm
Quoting Jigsaw
... so when Price action does occur, you are confident in pulling the trigger.

Which is the opposite of waiting for Price action to occur and then going and hunting and looking for reasons to trade it...
Just what I needed to hear today Jigsaw. Remembering to let the pattern come to the price and not the other way round
wash, rinse, spin . . . repeat
  • #21,587
  • Feb 16, 2009 5:37pm Feb 16, 2009 5:37pm
Quoting cvcamper
Yes, I actually did learn alot from the NickB forums before I found forex factory. I guess I use the world "scalp" just to mean an area of "interest" it can either blow by it and prove upward trend or be knocked back and be shorted.... My Lime green shows me that it is a low level of priority to watch for, but nonetheless I want to have it on my chart....
Man I used to do the EXACT same thing. with regards to . . . horizontal lines and I had different colors representing different levels of importance.

My charts look for all intents and purposes the exact same as yours. All I ever use are round numbers, PPZ, Fibs. Thats it.

I am unsure as to what to think of the Scalp Line side of things, I just normally try to pick the strongest areas myself. Although then again I have little experience of using them so . . . In my mind they just a weak PPZ.



I tell you a part of that guy's trading that I like, and theres a thread around ForexFactory with this on it. Is his idea of the "Master Candle" . Basically its a big candle which there are . . What is it - Three more more bars contained inside the high and low of the Master Candle itself ? Am I right in that definition ?

The reason why this works is its an order flow issue. When price reaches whatever end of it, There is just so many orders there in terms of stops and Buys or whatever . . These are really good when Round numbers or PPZ are running through the middle of them .

Great if you have bias in a certain direction . . Just another good form of PA.
  • #21,588
  • Feb 16, 2009 6:11pm Feb 16, 2009 6:11pm
yes there is a site but dont join until you have spent several months here first. by then you can make an educated decision on whats best for you. we have a free guest video section on the site also.

jim

Quoting BullsAndBear
Wanted to shout out here quickly. I started reading this thread for hours last night and barely put a dent in the 1000+ pages. Was wondering if James16 did actually put together a website and training material. Until then i will keep at it. thank you.

James16, I actually bought todd mitchells course back in october. There was so much volatility in the market that it wasnt working for on the emini s+p. I am sure no fault of the system as that was my 1st experience ever wiht trading. Since your base seems to come from his principals i am very eager...
  • #21,589
  • Edited 7:49pm Feb 16, 2009 7:22pm | Edited 7:49pm
Quoting trujillo1980
OMG 25 BLOWN ACCOUNT!!!!!!

PERSEVERANCE=JIM
Yeah Jim is Tenacious with a capital "T". He would probably be successful no matter what business or endeavor he wants to puruse.

I just thank God it was trading so we can learn form his mistakes, successes and everything that goes on in this business. Not many experienced successful traders are willing to do that.
Indicators show the past. Price Action "Indicates" the future.
  • #21,590
  • Feb 16, 2009 11:38pm Feb 16, 2009 11:38pm
Quoting mbqb11
I have traded this pattern down to the 5min timeframe....
Been at the Miami boat show again, so missed alot here including this post by mike, which i consider should be in the hall of fame. Hang on, we should have a j16 hall of fame maybe????

awesome stuff.

& found my cad trade was stopped for like 80 pips + 4 days swap so not complaining. should get back to work but I got those yachts on my brain
  • #21,591
  • Feb 16, 2009 11:50pm Feb 16, 2009 11:50pm
Quoting trujillo1980
OMG 25 BLOWN ACCOUNT!!!!!!

PERSEVERANCE=JIM

This is why James16 is here. The Dude just wants to help others not suffer as much.
People that appreciate this will get it & succeed. People that dont will fade away..

To all that want it. Enjoy,relax & take it all in. There is no rush. There is plenty to go around & you will be better off if you do nothing in your life other than listen to this fine gentleman.

You can consider me biased. I have learnt all my trading skills here & in the pf. I trade full time & have for over 1 year now.

its simple if you let it be.
  • #21,592
  • Feb 17, 2009 12:04am Feb 17, 2009 12:04am
James16: In the attached g/u 4hr chart:
Long when BBand line turns green, exit when turns orange.
Short when BBand line turns orange, exit when turns green.

The arrows are for adding positions during the trend.

I plan on going live after demo trading this system for 3 mo., but I would like to know your recommendation for adding positions - would it be better to trade same lot size each time at each arrow and risk 1% or 2% on each trade, or adjust lot size based on a fixed ratio formula while risking 1% or 2% on each trade? During each trend, the positions would remain open until the exit signal occurs.

I plan to add a fibo indicator to determine stops.
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  • #21,593
  • Feb 17, 2009 12:08am Feb 17, 2009 12:08am
Quoting james16
yes there is a site but dont join until you have spent several months here first. by then you can make an educated decision on whats best for you. we have a free guest video section on the site also.

jim

James16, I am trading live now and doing pretty good, but i would be lightning years ahead if i could start in with your teachings. I will aslo be hanging out here. Its tuff sifting thru infinite pages of material but it is good excercise for patience. i like to be precise like a laser. thanks so much for being here. Its like walking thru a desert about to die of thirst and finally finding water to quench and bring back your life again.

Regards
BB
Whats happening in EUR/USD should be happening to you!
  • #21,594
  • Feb 17, 2009 12:29am Feb 17, 2009 12:29am
As Mike touched on Gap trade briefly in his webinar tonight, was wondering what people thought of this? I need to review the chapter in "Pring on Price Patterns" on Gap Trades. But if they generally close most of the time would this pin maybe signal that the gap may close soon? Not good location at all but off the 117 level and 38.2 fib(not awesome). That blue line is a 150 ema which also doesn't make this too appealing. Just looking for some comments from people who have traded gaps and wondering how reliable especially when combined with PA bars???
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  • #21,595
  • Feb 17, 2009 12:45am Feb 17, 2009 12:45am
Hi Guys,

Is this a valid break out trade? Would we enter short on valid PA on the broken treand line?
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  • #21,596
  • Feb 17, 2009 12:54am Feb 17, 2009 12:54am
Hi, Guys,

Im not good at IB trading at all, but i found this setup on g/j daily.

Can u guys please comments on this please?

Well, for IB trading, normally where u put ur sl, the IB candle low or the mother candle low?

Also say if IB break one direction and then back to break the other direction, will u reverse ur postion?

Many thanks
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  • #21,597
  • Feb 17, 2009 1:26am Feb 17, 2009 1:26am
Quoting Pirabuji
Hi Guys,

Is this a valid break out trade? Would we enter short on valid PA on the broken treand line?
yes - i am in this trade from yesterday. It also had the benefit of closing the gap on the pullback
  • #21,598
  • Feb 17, 2009 1:33am Feb 17, 2009 1:33am
Quoting Piproo
Hi, Guys,

Im not good at IB trading at all, but i found this setup on g/j daily.

Can u guys please comments on this please?

Well, for IB trading, normally where u put ur sl, the IB candle low or the mother candle low?

Also say if IB break one direction and then back to break the other direction, will u reverse ur postion?

Many thanks
Hey Piproo! Is that a SUNDAY bar, take caution that sunday bar does not have much volatility. Lack of movement in price can appear to be an Inside Bar.
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #21,599
  • Feb 17, 2009 1:43am Feb 17, 2009 1:43am
Quoting simoncs
yes - i am in this trade from yesterday. It also had the benefit of closing the gap on the pullback
Simon,
Could you post a chart of that trade please.
"The more I practice, the luckier I get." (Gary Player)
  • #21,600
  • Feb 17, 2009 1:44am Feb 17, 2009 1:44am
Quoting Piproo
Hi, Guys,

Im not good at IB trading at all, but i found this setup on g/j daily.

Can u guys please comments on this please?

Well, for IB trading, normally where u put ur sl, the IB candle low or the mother candle low?

Also say if IB break one direction and then back to break the other direction, will u reverse ur postion?

Many thanks
No it's not a Sunday bar, it's Monday a Bar which was a Holiday. All Holiday bars should be viewed as a Sunday bar and ignored.
Indicators show the past. Price Action "Indicates" the future.
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