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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

  • #22,121
  • Feb 20, 2009 4:44pm Feb 20, 2009 4:44pm
Cant complain, really cant complain lol If we had such solid setups all the time, ohhh man
  • #22,122
  • Feb 20, 2009 5:19pm Feb 20, 2009 5:19pm
Quoting rustyjeff
dont know how many we get.. dont care really.
Try to focus instead on what you will do with them when they come along.

this one is a bit smaller then the one on 9/21/08
It is a bit crowded compared to how we would like to see them but playable in my book.
areas of interest are marked.
These sort of pins are my favourite.

If you draw in the falling wedge on the daily, you'll see that a break of the pin is in close confluence of breaking the falling wedge. These set-ups are my favourite where a break of the pin also constitutes a break of a TL.

Aussie PB on the monthly back in July 08 is a perfect example of this, break of the pin also broke the rising wedge support.

We have a bearish outside bar on the swissy daily and weekly as well. Sorry if it's been picked up already.
  • #22,123
  • Feb 20, 2009 6:23pm Feb 20, 2009 6:23pm
Quoting raczekfx
that's right, have a trading plan ready, so you know what to do when trades are delivered to you on a golder platter.. just like fiber ...

And HERE is a little wisdom by James from the past. Not sure how many of you saw this, but a sound of lost 700k makes me work harder.
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Good trade there raczekfx . I also like that kind of candle, I actually make profits from this type. What do we consider this type of candle? Is it also called a pin bar?
  • #22,124
  • Feb 20, 2009 6:26pm Feb 20, 2009 6:26pm
Quoting Chris P
Good to hear someone's already profiting from this concept. It's always benefitial to know that a concept can work. Now comes the lengthy process of testing and refining...

Thanks Bundy
Chris
Just to be clear... My way of trading pins in reverse involves fading the move when a pin is in the 'wrong place' kind of. Though, to me, it's the right place for that type of trade.

I know where in a chart to do this and I don't play a break of the nose as you may be thinking I do.

Jduester pointed out the discussion about failed pins middle of last year, if you're wondering where that conversation took place look around then.
...I remember it was then, because I went absolutely crap for those couple of months. lol ...for various reasons.
Bundy's status today: "Waiting..."
  • #22,125
  • Feb 20, 2009 6:35pm Feb 20, 2009 6:35pm
Quoting bundyraider
...I remember it was then, because I went absolutely crap for those couple of months. lol ...for various reasons.
Hello and good day to you Mr Bundy Sir.

I remember the period quite well. Even Jim had a loser if I remember correctly on the EU. And that doesn't happen often.
  • #22,126
  • Feb 20, 2009 6:56pm Feb 20, 2009 6:56pm
Quoting bundyraider
Just to be clear... My way of trading pins in reverse involves fading the move when a pin is in the 'wrong place' kind of.
"fading" ive seen this term, but am still unclear exactly what it means. does it have anything to do w/ scaling into/outof a position? (i dont know). thx.
  • #22,127
  • Feb 20, 2009 6:58pm Feb 20, 2009 6:58pm
Weekly PB Eur/Usd. Looking good.
How many different feeds are showing this one. I would quess all of them.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #22,128
  • Feb 20, 2009 7:18pm Feb 20, 2009 7:18pm
and it's a bullish outside bar on the Forex Ltd and interbank daily feeds. plus the dollar index has a big pin on it's weekly chart and a bearish outside bar on the daily. this one sure is tempting . . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro_usd.gif Size: 20 KB
Click to Enlarge Name: dollar_index.gif Size: 18 KB
"Don't trade to trade . . . trade to win." - James16
  • #22,129
  • Feb 20, 2009 7:26pm Feb 20, 2009 7:26pm
Quoting dkmb92
"fading" ive seen this term, but am still unclear exactly what it means. does it have anything to do w/ scaling into/outof a position? (i dont know). thx.
Fading is pretty much entering without confirmation.

(One example would be entering on a touch of a level just because you have a strong gut feeling it will reverse about there. )

So although it's not defined as scaling in/out of a position (has nothing to do with it), the risk of the trade usually means that is scaling in is something you often do hand in hand with fading anyway. lol

When many confluences line up at a particular price point and you have continuing evidence of the level holding many times, to an experienced campaigner fading the move becomes an option. ...pretty much entering on an educated guess. ...one example anyway.

.
Bundy's status today: "Waiting..."
  • #22,130
  • Feb 20, 2009 8:57pm Feb 20, 2009 8:57pm
Quoting mbqb11
Hey BW

Welcome to the thread. A lot of these concepts can/will only become clear after going through the posts from page 1 a few times. I know it seems like a monstrous task but it will be worth all your time. What is taught here can't be summed up in a post with "everything". I know most threads on FF have a first post summary of their super system, but this is something that needs to be learned and honed in over time.

Each concept you mention above is talked about many times over by James and others here. The best thing you could do is....
I just saw this post as I go backward. Thanks, Mike. That sums it all up for me and the rest of the new guys in a singe post.
  • #22,131
  • Feb 20, 2009 9:34pm Feb 20, 2009 9:34pm
Quoting mbqb11
I know most threads on FF have a first post summary of their super system, but this is something that needs to be learned and honed in over time.


Mike
This one comes pretty close to a first post summary. lol Very nice.
Indicators show the past. Price Action "Indicates" the future.
  • #22,132
  • Feb 20, 2009 11:19pm Feb 20, 2009 11:19pm
hi all

found forex factory 5months ago,gone through a few system and interactice threads and found this one which sent my mind into overdrive,up to page 36

with the monthly,weekly,daily pivots and the r1,r2,s1.s2 is there a autotemplate that can plot it on mt4 platform

got alot of pages to go

thanks
  • #22,133
  • Feb 21, 2009 12:01am Feb 21, 2009 12:01am
Quoting desperate
hi all

found forex factory 5months ago,gone through a few system and interactice threads and found this one which sent my mind into overdrive,up to page 36

with the monthly,weekly,daily pivots and the r1,r2,s1.s2 is there a autotemplate that can plot it on mt4 platform

got alot of pages to go

thanks
You won't need them. Trust me.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #22,134
  • Feb 21, 2009 12:03am Feb 21, 2009 12:03am
ok thank u,ill keep reading
  • #22,135
  • Feb 21, 2009 3:46am Feb 21, 2009 3:46am
Quoting ghous
First group of live trades in 12 days
http://www.forexfactory.com/showpost...ostcount=22016
Ghous, im very amazed by ur trade. very very nice. 3 trade all tp hit so well (gj is only a few pips away).

Hope we all can re-study the 3 charts again and again, also how u allocate the risk into the 3 trades, and how u min the SL. so nice and thank u so much for that.

http://www.forexfactory.com/showpost...ostcount=22057
  • #22,136
  • Feb 21, 2009 7:30am Feb 21, 2009 7:30am
Quoting NuckingFuts
Hello and good day to you Mr Bundy Sir.

I remember the period quite well. Even Jim had a loser if I remember correctly on the EU. And that doesn't happen often.
Just read about this too... Nice memory NF (or was it nightmares?)

Last time I figured it out, 60 for 68 was over 88%. Very nice James. And that is on the daily, proving trading daily only can and does work. And this was during some volatile, (unpredictable?) markets. As I have referred to it and continue to do so, treat this thread as you would a textbook. Read, Study, Refer to the charts, take lots of notes. Then reread, Study, Refer to the Charts, take lots of notes and Contribute...

Great thread and thanks to all who have made it so over the past few years. For those that treat this like a business, this thread is a perfect guide, with hundreds (thousands?) of examples, IMHO the best way to learn.

http://www.forexfactory.com/showpost...ostcount=13438

Happy weekend all.

Josh
  • #22,137
  • Feb 21, 2009 8:28am Feb 21, 2009 8:28am
lol,I just posted that very same chart sure looks sweet.

Quoting Flem26
and it's a bullish outside bar on the Forex Ltd and interbank daily feeds. plus the dollar index has a big pin on it's weekly chart and a bearish outside bar on the daily. this one sure is tempting . . .
Attached Image (click to enlarge)
Click to Enlarge Name: 40-usdx -pin weekly -pin bar,bar 19-02-09.gif Size: 17 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #22,138
  • Feb 21, 2009 8:41am Feb 21, 2009 8:41am
Quoting desperate
hi all

found forex factory 5months ago,gone through a few system and interactice threads and found this one which sent my mind into overdrive,up to page 36

with the monthly,weekly,daily pivots and the r1,r2,s1.s2 is there a autotemplate that can plot it on mt4 platform

got alot of pages to go

thanks
that's the one i'm using
Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 613 downloads
  • #22,139
  • Feb 21, 2009 10:08am Feb 21, 2009 10:08am
Quoting hijackxx
I just saw this post as I go backward. Thanks, Mike. That sums it all up for me and the rest of the new guys in a singe post.
True that bro...true that
There's no easy way to be successful in life...nevertheless in trading it's way more harder
  • #22,140
  • Feb 21, 2009 10:41am Feb 21, 2009 10:41am
Quoting ghous
First group of live trades in 12 days
You got it Ghous !! Very Beautiful work indeed.
Find an Edge. Only way to succeed in this business.
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