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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

  • #23,821
  • Mar 15, 2009 8:30pm Mar 15, 2009 8:30pm
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
  • #23,822
  • Mar 15, 2009 8:31pm Mar 15, 2009 8:31pm
Quoting Darkstar
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
DS!
  • #23,823
  • Mar 15, 2009 8:49pm Mar 15, 2009 8:49pm
Quoting mbqb11
DS!
LOL... Speaking Of Darkstar.... I'm having an hallucination right now. I keep seeing a post above yours from him.

Good poster. Wonder what happened to 'im?
Bundy's status today: "Waiting..."
  • #23,824
  • Mar 15, 2009 9:17pm Mar 15, 2009 9:17pm
Post #149 . . . fabulous, simply fabulous!!!

http://www.forexfactory.com/showpost.php?p=18981&postcount=149
  • #23,825
  • Mar 15, 2009 9:21pm Mar 15, 2009 9:21pm
Quoting Darkstar
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
Yo Dark Star, still only making 50 pips a week . . . . at a $1000 a pip. lol
Indicators show the past. Price Action "Indicates" the future.
  • #23,826
  • Mar 15, 2009 9:56pm Mar 15, 2009 9:56pm
The only guy who Ive come across that I beleive to have a true premise for making his trades.

I would have done thesame about the thread.
Living the adventure in my head.
  • #23,827
  • Edited 11:06pm Mar 15, 2009 11:05pm | Edited 11:06pm
Quoting Darkstar
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
Good Lord, the prodigy returns!

(Finally I had the courage to post in this thread)
  • #23,828
  • Mar 16, 2009 1:43am Mar 16, 2009 1:43am
regarding the cad weekly beob,theres a 4h beob also, better stop size for me n my mini acount(the break is the break of the weekly setup)
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #23,829
  • Mar 16, 2009 2:26am Mar 16, 2009 2:26am
Is anyone looking for a shoert on the USD/CHF. It has had some nice daily pin bars and not much support underneath if it breaks.
  • #23,830
  • Mar 16, 2009 2:42am Mar 16, 2009 2:42am
Quoting Darkstar
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
Darkstar!

I never met you on here man, but on the recommendation of mbqb11 I read all of your posts. They transformed my thinking about forex. Thanks for the resource and for sharing your knowledge.

What brings you back?
  • #23,831
  • Mar 16, 2009 2:51am Mar 16, 2009 2:51am
Quoting james16

3. learn to use side to side support and resistance ( j16 pivot zones if you wish) to manage your trades and allow them to be the basis for whether its a day/swing or position trade.


Jim
Hi ya Everyone..

Sorry, could someone explain what Jim is saying by "side to side" please..not sure if it means confluence with another S/R?..

Adrian
  • #23,832
  • Mar 16, 2009 2:58am Mar 16, 2009 2:58am
Quoting otm
Is anyone looking for a shoert on the USD/CHF. It has had some nice daily pin bars and not much support underneath if it breaks.
i dont see any daily pins on us/chf ???
PATIENCE... DISCIPLINE
  • #23,833
  • Mar 16, 2009 3:06am Mar 16, 2009 3:06am
Quoting g_j_hook@yah
regarding the cad weekly beob,theres a 4h beob also, better stop size for me n my mini acount(the break is the break of the weekly setup)
Nice approach gj.

Let's zoom in on the Weekly and see some barriers I would like to see Price break through as confirmation that its moving lower. Staying below the previous bar (candle) Low of the Weekly BEOB, breaking the Highs of 1.11.09 & 2.15.09 (1.2672) and breaking the BEOB itself.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #23,834
  • Mar 16, 2009 3:41am Mar 16, 2009 3:41am
Quoting jarroo
Nice approach gj.

Let's zoom in on the Weekly and see some barriers I would like to see Price break through as confirmation that its moving lower. Staying below the previous bar (candle) Low of the Weekly BEOB, breaking the Highs of 1.11.09 & 2.15.09 (1.2672) and breaking the BEOB itself.
thanx for your insight jarroo,price is trying it best to break that level.what kind of TF are you thinking off?? eg, a 4h close below the 126.70 area ,a daily close??
one problem i have in looking at longer TF charts is trying to put a time frame to my expectations. i have done most of my self-studying on the 1h and 15 min charts and find it a real struggle trying to change my mind set!?
PATIENCE... DISCIPLINE
  • #23,835
  • Mar 16, 2009 3:59am Mar 16, 2009 3:59am
Quoting aarangio
Hi ya Everyone..

Sorry, could someone explain what Jim is saying by "side to side" please..not sure if it means confluence with another S/R?..

Adrian


Adrian,

I think Jim means horizontal support/resistance as opposed to diagonal trendlines. I hope this helps.
Take care,
Dave
  • #23,836
  • Mar 16, 2009 4:57am Mar 16, 2009 4:57am
A good time to be watching gb/us imo ??
bearish div. forming on daily and 4h, but there is plenty of room for a break to the upside also
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PATIENCE... DISCIPLINE
  • #23,837
  • Mar 16, 2009 4:57am Mar 16, 2009 4:57am
Hi Guys, it might be my first real post here (that is not a one liner).

I've been a member of the PF for 2 months and since the year 2009 due to financial problems I have to cancel the membership, but I'm hoping to rejoin in a few months time.

I've learned a lot from the PF and from this public side, which really enlightens me and now I can tell myself after 3 years of account blowing (and life threatening) that finally "There's a light at the end of the tunnel" (I'm sure someone here said that before, sorry for the plagiarism ).

There are some that still bugs me though, I've read and watched that an A trade would be from a reversal pin or an outside bar at a swing high / low, well I haven't traded any outside bars myself, but lately in a strong trending market, a reversal pin would be againts the trend right? so we should be more cautious? even in a ranging market, a pin that is with the previous trend is what my "wishful thinking" almost always hoping to go further.

I've saw myself some pins that acts as a trend continuation on a fib area, which happens after retracements usually create quite a long run... but due to the fact that I have little risk tolerance, I think even if I catch such a pin, I'd chicken out after it hits certain S/R areas and start turning back, I really don't like profit trades goes to B/E, I'll take my 1/3 cash and wait for another really good setup, this is my trader discretion.

About that 1/3 cash... I saw that pinbars will almost always goes 1/3 of the pin size (or nearest S/R) before prices turns againts it, will that mean that trades will usually have 1:3 Risk/Reward histories? I haven't calculated yet even with 80% success rate of reaching a 3:1 Risk/Reward what is the result in the long run, can any of you share your experience on this?

I myself is not a fan of R/R because you can never calculate reward prior trade, but it is history what I'm asking about.

Thanks.

Marcel
  • #23,838
  • Mar 16, 2009 6:05am Mar 16, 2009 6:05am
Quoting davema
Adrian,

I think Jim means horizontal support/resistance as opposed to diagonal trendlines. I hope this helps.
Take care,
Dave
Hi ya Davema..

Thanks for your help on this

Adrian
  • #23,839
  • Mar 16, 2009 6:22am Mar 16, 2009 6:22am
Hi there all - as you know I'm new to this method having only discovered it a couple of weeks ago after a spell of unsuccessful (understatement!) forex scalping.

I was looking at daily charts and came across what I thought (in light of looking at all the videos on the J16 site) was a pretty good pin bar on the GBP/JPY on Friday. So anyway, last night I decided to place a demo long trade. This morning, what do you know, I'm up 325 pips!

For me this is truly astonishing, and though it's probably beginner's luck it's made me feel optimistic about James' PA method to say the least.

Just thought this was worth sharing, but one question: Given that I have the equivalent of one contract on this trade (I'm spread betting) what should I do now? Price looks to be approaching an area of resistance so is it time to move the stop to BE?

Thanks
When in doubt, sit on your hands...
  • #23,840
  • Edited 6:51am Mar 16, 2009 6:38am | Edited 6:51am
Quoting Gododddin
Hi there all - as you know I'm new to this method having only discovered it a couple of weeks ago after a spell of unsuccessful (understatement!) forex scalping.

I was looking at daily charts and came across what I thought (in light of looking at all the videos on the J16 site) was a pretty good pin bar on the GBP/JPY on Friday....
i have mine just below 138.50...is it low enough to keep me in...i dont know for sure,but im not prepared to give anymore back!! hehe
at anyrate, i think BE would be a good idea,...325 you say??
you might want to book some profits at this stage,
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