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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

  • #24,361
  • Mar 20, 2009 4:47pm Mar 20, 2009 4:47pm
Quoting james16
you can get end of day charts for futures and stocks many places.

ken has been around a long time. many love him and many dont.

he has a great tools section to his site which i have used for years that runs 30 a month.

I AM NOT recomending anything he sells. anyone considering that needs to do there own research.

jim
thanks Jim
the reason i mentioned Ken ,was i bought a Course of him,quite a long time ago.....the 123 principle..and he only did N.American futures only...and Paper charts as well !!......so you can tell how we have advanced......but thanks a lot......he has since retired,i think

baz
  • #24,362
  • Mar 20, 2009 5:00pm Mar 20, 2009 5:00pm
Quoting james16
CHART
Hey James, I am new to this thread and I am reading through the beginning and also the end to see some more recent scenarios that I can follow real time.

I have a question about the outside bars. Near the beginning of the thread you talk about waiting for a 50% retrace for A entries. Is this still something you follow? I have noticed that it seems to be very rare that an outside bar retraces 50% within the next bar, seemingly because it is so long. What general rules do you follow regarding outside bars and retracing? If you have 2 points of confluence near the same area do you just enter as close to 50% as possible?

Thanks in advance!

Scott
  • #24,363
  • Mar 20, 2009 5:01pm Mar 20, 2009 5:01pm
Quoting baz
hi Jim or anyone
where can i pick a sevice provider for these FUTURES charts
thanks in advance

baz

ps anyone heard of Ken Roberts ?
Try the link below. I use them on occasion for looking at futures.
I don't dig to deep but have yet to create a login.

http://www2.barchart.com/mktcom.asp?section=indices
  • #24,364
  • Mar 20, 2009 5:21pm Mar 20, 2009 5:21pm
Quoting Fx_Genius
Try the link below. I use them on occasion for looking at futures.
I don't dig to deep but have yet to create a login.

http://www2.barchart.com/mktcom.asp?section=indices
thanks

baz
  • #24,365
  • Mar 20, 2009 6:04pm Mar 20, 2009 6:04pm
Quoting james16
CHART
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
Indicators show the past. Price Action "Indicates" the future.
  • #24,366
  • Mar 20, 2009 6:18pm Mar 20, 2009 6:18pm
Quoting jarroo
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
And for me it was a lesson that despite the news, if a set-up is an A+ set-up, let it ride. I pulled out of the trade before the FMOC meeting. I come back from a 2 hour meeting to see that I would have already hit TP1 and been on the home stretch.

I learned from it, that is why I like trading, you can learn and grow from your decisions.

Heading into the weekend, I only noticed two set-ups that my broker carries (Oanda).

USDJPY - 2 day pin that closed above 95. I will probably pass on this trade. As sharp as the USD sold off this week, it is tough to long the USD to start next week. Also there is a lot of traffic between 95 and 100. Where is this thing going? Probably get lost between 95 and 100 again, but not sure enough to put money behind it.

Silver - Weekly BUOB. I believe Clockwork already got in this trade on the Daily Pin bar (great trade Clockwork). Looks to really be a good set-up. With TP1 probably at the high from a could weeks ago around 14.50 or so. If it can get through 14.50, it might go all the way to 16.
  • #24,367
  • Mar 20, 2009 6:34pm Mar 20, 2009 6:34pm
yeah i only hesitated on that one because it looks to a newbie like a neutral bar. its a strange bar actually at least on my ibfx feed. i will probably post it but im sure you guys already have.

jim

Quoting jarroo
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
  • #24,368
  • Mar 20, 2009 6:47pm Mar 20, 2009 6:47pm
Quoting unlv_tj
And for me it was a lesson that despite the news, if a set-up is an A+ set-up, let it ride....
In the interest of clarity and full disclosure, I actually went long SLV, which is a silver-related ETF.....not the spot market.

CW
  • #24,369
  • Mar 20, 2009 8:31pm Mar 20, 2009 8:31pm
Waaaaw...you guys are amaizing...James and the gang, you are still keeping the original thread alive and posting after all this time.I haven't been the part of your group for some time now,but the things I have learned with you are precious.

Thank you for everything!
  • #24,370
  • Mar 20, 2009 8:43pm Mar 20, 2009 8:43pm
Morning all,
I had one of those brainfart moments yesterday. I jumped into a trade without any real planning and consequently when it went against me I panicked and bailed out at -50. The monetary value lost is insignificant (not even 0.5%), what annoys and concerns me is how easily I lost my discipline, which makes me wonder if you senior members still have moments of madness like this or have you completely ridded yourselves of this kind of indiscipline?
Don't get me wrong, I'm not beating myself up over it nor I have lost any confidence, I guess I'm just dissapointed with myself for still making silly elementary mistakes.

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #24,371
  • Mar 20, 2009 8:52pm Mar 20, 2009 8:52pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
demo,demo,demo.......
pull trigger,pull trigger,pull trigger whenever you have the need.......
blow up,blow up, blow up....... till some day you are tired of such behavior

Advise won't work, neither feel guilty,coz you want to change your behavior pattern, it won't change in a second after knowing its danger. so, do it yourself to the extreme...... this is one of the demo's mission for you

this is what I meant if one can not control the enemy, let it show till exhaustion




Quoting mrsingha
Morning all,
I had one of those brainfart moments yesterday. I jumped into a trade without any real planning and consequently when it went against me I panicked and bailed out at -50. The monetary value lost is insignificant (not even 0.5%), what annoys and concerns me is how easily I lost my discipline, which makes me wonder if you senior members still have moments of madness like this or have you completely ridded yourselves of this kind of indiscipline?
Don't get me wrong, I'm not beating myself up over it nor I have lost any confidence, I guess...
  • #24,372
  • Mar 20, 2009 9:17pm Mar 20, 2009 9:17pm
Quoting krue
demo,demo,demo.......
It was only on demo Krue, but my demo account is like real money to me.
"The more I practice, the luckier I get." (Gary Player)
  • #24,373
  • Mar 20, 2009 9:34pm Mar 20, 2009 9:34pm
This is what I got on the loony weekly for Broco, Interbank, and FXPro feeds. What are you guys thinking about the buovb for gold? How much of a break up is required for an entry 5, 10, 20 points? For currencies, I've settled on 10 for the 4 hour, 15 for the daily, and 20 on the weekly plus the spread of course.
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"Don't trade to trade . . . trade to win." - James16
  • #24,374
  • Mar 20, 2009 10:01pm Mar 20, 2009 10:01pm
still going strong happy.

jim

Quoting happy camper
Waaaaw...you guys are amaizing...James and the gang, you are still keeping the original thread alive and posting after all this time.I haven't been the part of your group for some time now,but the things I have learned with you are precious.

Thank you for everything!
  • #24,375
  • Mar 20, 2009 10:17pm Mar 20, 2009 10:17pm
Quoting james16
yeah i only hesitated on that one because it looks to a newbie like a neutral bar. its a strange bar actually at least on my ibfx feed. i will probably post it but im sure you guys already have.

jim
I see what you mean. It was a little better on FxPro.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #24,376
  • Mar 20, 2009 10:48pm Mar 20, 2009 10:48pm
Quoting jarroo
I see what you mean. It was a little better on FxPro.
Your chart looks different Jarroo
  • #24,377
  • Mar 20, 2009 10:49pm Mar 20, 2009 10:49pm
you have been around for a while.

charting 123's on paper charts is old school.

his paper charts were great and many old timers still use them

jim

Quoting baz
thanks Jim
the reason i mentioned Ken ,was i bought a Course of him,quite a long time ago.....the 123 principle..and he only did N.American futures only...and Paper charts as well !!......so you can tell how we have advanced......but thanks a lot......he has since retired,i think

baz
  • #24,378
  • Mar 20, 2009 10:50pm Mar 20, 2009 10:50pm
yes but even on my feed its still a bearish outside bar and at a great great place.

jim

Quoting jarroo
I see what you mean. It was a little better on FxPro.
  • #24,379
  • Mar 20, 2009 10:51pm Mar 20, 2009 10:51pm
Quoting arcus
Your chart looks different Jarroo
James16 uses Bar charts, I wanted to see what Jim was seeing.
Indicators show the past. Price Action "Indicates" the future.
  • #24,380
  • Mar 20, 2009 11:30pm Mar 20, 2009 11:30pm
CHART
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