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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

  • #24,261
  • Mar 19, 2009 2:40pm Mar 19, 2009 2:40pm
Quoting marcelnyo
It's not a pin in my feed... but then again, I've never traded H4 Yet... ><
Can't stress enough how great a Job that is.

A HeArTy ThUmBsUp!!
I believe . . .
  • #24,262
  • Mar 19, 2009 2:44pm Mar 19, 2009 2:44pm
Quoting ghous
I'd love it to somehow make it to 1.38, that would be super cool!

problem is this beast really doesn't always grant you with what you dearly want, some negotiation may have to be done
I personally am holding out for it. A nice thrust and temporary exhaustion should get us there. 1.3825 looks very appealing.
  • #24,263
  • Mar 19, 2009 2:51pm Mar 19, 2009 2:51pm
Quoting enculée
Are you not trading candlestick confirmations at all mate?

Nice little IB/proxy pin setting up on Oanda's 3H chart if you're interested.

A lot of my friends trade like you, but I sh*t myself everytime if I try hehe, how d'you determine your stops?
Interesting friends you've got....
I do all the time, but I also trade break outs, retraces and my very own Rdb.
It takes time to build up confidence, but once you get it... it's yours to keep till market characteristics change.
stops?
behind S/Rs, pins and other setup bars.
if I got my 3760 trade, it would've been @ 3785
  • #24,264
  • Mar 19, 2009 2:54pm Mar 19, 2009 2:54pm
this looks good to me
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  • #24,265
  • Mar 19, 2009 2:56pm Mar 19, 2009 2:56pm
actually entered here
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  • #24,266
  • Mar 19, 2009 3:00pm Mar 19, 2009 3:00pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I was searching Jame's earlier post, and found this one, probably a variety of your RPB, things are getting complicated as it seems???

Just wondering the reason he didn't exit his trade upon the appearance of Pinbar which is the second one from right.

I think there are a lot to be appreciated before one could master this technique.

http://www.forexfactory.com/showthre...=2331&page=595

I post his pic here for easy reference


Quoting ghous
Don't worry abt that Krue, did you read abt the number of live accounts Jim blew away when he first descided he wanted to master this? We are all humans and have our strengths and weaknesses,

it's true that some will get to tune up thier attitudes sooner than others, but given that you do justice to the due diligence the long term's ditto for both the parties, if you don't believe me think abt Jim, or the light bulb that's lighting your room. Thomas Edison found 200 ways to not make a light bulb before he made one.



I am not ready to...
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  • #24,267
  • Mar 19, 2009 3:02pm Mar 19, 2009 3:02pm
Quoting raczekfx
Interesting friends you've got....
I do all the time, but I also trade break outs, retraces and my very own Rdb.
It takes time to build up confidence, but once you get it... it's yours to keep till market characteristics change.
stops?
behind S/Rs, pins and other setup bars.
if I got my 3760 trade, it would've been @ 3785
Nice

The guy that sits next to me trades the same way; it's impressive that you run your positions as long as you do given your entry, most of the traders I know take profit as soon as the order flow turns against them.

Its a personality thing I guess, I like to wait for the candle, although I miss a lot of trades this way. When I daytrade I read the orderflow so I sometimes trade like you, I still sh*t my pants until I'm well onside haha.
  • #24,268
  • Mar 19, 2009 3:12pm Mar 19, 2009 3:12pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
here is another variation, bearish PA at swing high, but, he traded as bullish, noted the BEOB and his entry line? I don't think he was trading based on the BUOB coz the buying point was before the close of BUOB

This is a little bit confused, though he was talking about his MA systems. I thought that could be a short opportunity at the retracement to the BEOB

I also attached his pic for easy reference



Quoting ghous
And here's that mysterious bar again,

I've watched abt 6 of these bars in live action and not one failed, they had to do a lot with solid location too just like any other PA bar. i am still in the process of figuring out though, but my guess (since I am still obviously not 100% sure till i can see through another 15 to 20 of these on different time frames) is a bullish Pin bar at a swing high has a bearish composition and a bearish Pin bar at a swing low has a bullish composition. Again a lot has to do with the location of the...
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  • #24,269
  • Mar 19, 2009 3:13pm Mar 19, 2009 3:13pm
Quoting joebryce
this looks good to me
with you on that one - have an order pending - also on the usdchf which is a similar setup.
The only thing that concerns me is the very steep decline - almost like catching a falling knife - this seems to be a trade off to the "cherry picking" setups that Mike likes.

what say you, Mike - a rip cherry or falling knife?
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  • #24,270
  • Mar 19, 2009 3:17pm Mar 19, 2009 3:17pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Jigsaw

Sorry for being late in response, I was searching James' earlier post in a hope to find a Pinbar that didn't close within the eyes, but, I failed. in my memory I don't know where it seemed I got one which not within the eyes. I think I mistook something. it is a good lesson for me, thanks for pointing this out, I will do it in a strict manner.

As for the time of close, I sometimes anticipate, coz it was about 2 min before bar close. it is dangerous, but, you know something, I am hot temper person, can not stand by for patience, see, so many weak points need to be sort out

Quoting Jigsaw
First one was NOT a pin bar (Did not close within high of the previous bar)

Why are you short on the second one and it's not even closed yet ? (At the time of me originally writing this it was not closed I had to go look at the other screens to check the PA ) It has not broke the bottem of the bar so it has not proven anything. Nose did not protrude from surrounding price at all at all.

1HR timeframe as well . . .

More reading of the thread needed methinks,

Regards,
Jig
  • #24,271
  • Mar 19, 2009 3:20pm Mar 19, 2009 3:20pm
Hey guys! I was reading this thread and thought that you guys really are proffesionals on forex. Thanks for your posts! They are really useful for newbies like me.

What do you think about that H&S patternt wich is forming in E/U?
  • #24,272
  • Mar 19, 2009 3:22pm Mar 19, 2009 3:22pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Yeah, you are absolutely correct, buddy, patience, patience is always my biggest problem, thanks for point this out

Quoting Jduester
What is the confluence for these trades? Looks like the E/U is in a strong bull run the last week or so... I'm not seeing a strong PPZ until 1.38ish.

Patience... Patience...

Josh
  • #24,273
  • Mar 19, 2009 3:24pm Mar 19, 2009 3:24pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, Jig

here it is, he said, the eyes are secondary consideration.

http://www.forexfactory.com/showpost...&postcount=544

in any case, I think I'd better start from the strict form



Quoting Jigsaw
First one was NOT a pin bar (Did not close within high of the previous bar)

Why are you short on the second one and it's not even closed yet ? (At the time of me originally writing this it was not closed I had to go look at the other screens to check the PA ) It has not broke the bottem of the bar so it has not proven anything. Nose did not protrude from surrounding price at all at all.

1HR timeframe as well . . .

More reading of the thread needed methinks,

Regards,
Jig
  • #24,274
  • Mar 19, 2009 3:25pm Mar 19, 2009 3:25pm
Quoting enculée
Nice

The guy that sits next to me trades the same way; it's impressive that you run your positions as long as you do given your entry, most of the traders I know take profit as soon as the order flow turns against them.

Its a personality thing I guess, I like to wait for the candle, although I miss a lot of trades this way. When I daytrade I read the orderflow so I sometimes trade like you, I still sh*t my pants until I'm well onside haha.
I don't know about you, but most traders I know never made any money. This is the sole reason, I don't read posts that say: I'm long, I'm short, I'm..... full of it.
It's just a noise for your brain. Trust me, your brain can be master of its own destruction. I don't remember when was the last time I read someone's journal.

The sooner you find your own way by implementing j16 method, the sooner you will be...... diapers free... (sorry for the expression, i couldn't resist)

It's sad, but 90% of people posting on FF will never make any real money. New guys, who just started this journey and trade on 1hr or lower are very important for the big guys. They constantly supply them with cash and pay for their toys. After all it's a zero sum game (business)

ok, enough of me here for some time. trade wisely.
  • #24,275
  • Mar 19, 2009 3:46pm Mar 19, 2009 3:46pm
Quoting simoncs
with you on that one - have an order pending - also on the usdchf which is a similar setup.
was looking at that also but I have a ppz right above that one at 1.13.
  • #24,276
  • Mar 19, 2009 4:11pm Mar 19, 2009 4:11pm
Daily IB on the DOW, sitting at resistance.
  • #24,277
  • Mar 19, 2009 4:36pm Mar 19, 2009 4:36pm
Quoting raczekfx
don't know. i had my limit sell set at 3760, but price hit 3740 and quickly reversed 100ps. next
.
Well, it looks like there was some obvious reaction. I like the confluence of the 61 retracement nearing 3850.
  • #24,278
  • Mar 19, 2009 4:55pm Mar 19, 2009 4:55pm
Folks;
Fair Market Value... {i pulled it down from the title because I thought it might be missed.}

How much is a pristeen 67 'Cuda Worth?{Lets call that The Bull. (no influence intended)}
How about a Pristeen '76 Pacer? {Lets call that The Bear. (again,no influence intended)}

If you don't understand cars then don't Trade Cars. Do some research & study.

Would you throw your money at it?
Same thing with Countries & their Currencies.

Mandate:
Wait until you are confident Before You roll the die.
  • #24,279
  • Mar 19, 2009 5:04pm Mar 19, 2009 5:04pm
Quoting simoncs
with you on that one - have an order pending - also on the usdchf which is a similar setup.
The only thing that concerns me is the very steep decline - almost like catching a falling knife - this seems to be a trade off to the "cherry picking" setups that Mike likes.

what say you, Mike - a rip cherry or falling knife?
falling knife. Notice the large size of the previous bars. THen notice the close is not within the previous bars body(only a rule for falling knife theory). Small bar, NOT enough to reverse a huge move for me. Also next bar didn't break. These I don't touch with a 10 foot pole(well ok my account)

Take care

Mike
  • #24,280
  • Mar 19, 2009 5:49pm Mar 19, 2009 5:49pm
more pure gold from a member of the pure gold gang.

they ride hard and fast and tell it like it is baby.



Quoting raczekfx
I don't know about you, but most traders I know never made any money. This is the sole reason, I don't read posts that say: I'm long, I'm short, I'm..... full of it.
It's just a noise for your brain. Trust me, your brain can be master of its own destruction. I don't remember when was the last time I read someone's journal.

The sooner you find your own way by implementing j16 method, the sooner you will be...... diapers free... (sorry for the expression, i couldn't resist)

It's sad, but 90% of people posting on FF will never...
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