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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

  • #24,541
  • Mar 23, 2009 1:34pm Mar 23, 2009 1:34pm
http://www.forexfactory.com/showpost...ostcount=24515

Josh,
excellent analysis...

as an add-on, the mentioned PBs are those w/c can be called "trend continuation" PBs wherein the upmove is rejected then eventually breached.

on your 2nd chart, the PB (bar 2), in other situations, can be a false break to the upside, taking price back inside the consolidation &/or even go down further & break the lower part of that range/consolidation. In this case, it would be a "regular" PB.
  • #24,542
  • Mar 23, 2009 1:39pm Mar 23, 2009 1:39pm
Quote
quasi-BEOB.....
yes, very much aware of that. It's more of an observation that's why i've emphasized it's a "quasi-BEOB"/doji/neutral bar. Thanks for pointing that out for the others ghous
  • #24,543
  • Mar 23, 2009 3:04pm Mar 23, 2009 3:04pm
Quoting urchman
helllo jarroo im also looking forward to the 2nd half(hope she falls to my traps), though i only managed 140pips on the first run. And BTW i still want to thank jim for this GOD blessed thread, it's really a gem.. peace to you all.
How's that 2nd half treating you on the Weekly Cad BEOB, urchman?

Price Action Rules!!
Indicators show the past. Price Action "Indicates" the future.
  • #24,544
  • Mar 23, 2009 3:28pm Mar 23, 2009 3:28pm
jarroo's finally here... ghous has been looking for u. what do u say, ghous?

more to go on $cad, jarroo?
  • #24,545
  • Mar 23, 2009 3:31pm Mar 23, 2009 3:31pm
IMO those triple top/bottom bounces arent very convincing to expect good reversal move. The possible 4th bounce will tell us something about the bears/bulls strenght.
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  • #24,546
  • Mar 23, 2009 3:51pm Mar 23, 2009 3:51pm
Quoting supremeChaos
more to go on $cad, jarroo?
i'm no jarro, but if I was short ucad... I'd watch this pin closely, very closely ....
.
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  • #24,547
  • Mar 23, 2009 4:02pm Mar 23, 2009 4:02pm
Quoting raczekfx
i'm no jarro, but if I was short ucad... I'd watch this pin closely, very closely ....
.
I'm no raczek, and I would agree. lol.

Your probably waiting for that PB to confirm your 1.2201 long entry.
Indicators show the past. Price Action "Indicates" the future.
  • #24,548
  • Mar 23, 2009 4:06pm Mar 23, 2009 4:06pm
Quoting supremeChaos
jarroo's finally here... ghous has been looking for u. what do u say, ghous?
Ghous and I were looking at the 2 day PB on the Usd/Jpy. Nice hard break, caught 42 pips/ breakeven on that one. It will now probably go to the moon. lol
Indicators show the past. Price Action "Indicates" the future.
  • #24,549
  • Mar 23, 2009 5:45pm Mar 23, 2009 5:45pm
Quoting supremeChaos
juribe2,
alternatively, u can also check out http://www.7-zip.org




johnnyonspot, hans356 (same age ),
once i save up enough fx profits, i plan to build a house, get a citizenship &/or retire somewhere in your area/canada. i believe Canada is an excellent all-in-1 place (wilderness, nature, adventure, culture, people, economy, location). want it soon but no need to rush.. "Patience"
Thanks,

I got the files unziped but can't open them using my Acrobat Reader 8. Maybe I need to upgrade the reader.

Juan.
  • #24,550
  • Mar 23, 2009 6:10pm Mar 23, 2009 6:10pm
this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.

it is very common for me to say out loud to my computer screen.

THANK YOU!!!

they rarely fail me if i "treat" them right.

i love it when i see that same graititude toward them from some of you.

they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.

the holy grail in this business is a method that is "market condition" blind.

is this it? if so are there more?

i dont know but i do know that i dont have a regular job and i can pretty much do what i want when i want.

that was always my goal.

im about to write a check for 6 figures to the IRS tomorrow.

do i think its too much?

yes.

is it better than punching a clock, dreading monday and hoping for a thousand dollar refund every year from the IRS?

hell yes.



Quoting jarroo
Ghous and I were looking at the 2 day PB on the Usd/Jpy. Nice hard break, caught 42 pips/ breakeven on that one. It will now probably go to the moon. lol
  • #24,551
  • Mar 23, 2009 6:20pm Mar 23, 2009 6:20pm
Quoting james16
this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.

it is very common for me to say out loud to my computer screen.

THANK YOU!!!

they rarely fail me if i "treat" them right.

i love it when i see that same graititude toward them from some of you.

they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.

the holy grail...
Bemac IMMEDIATELY changes his Moniker to IRS.
Thank you sir. You have now been moved from our "it List to No further enquries are required.

Your contribution to surviving the current crisis is greatly appreciated. {Keep Tradin' 'n Takin' their Money}

If you need some assistance in that endeavour... Well... we have done some sillier things....

Go Jim...
ps. 6 for me too {NOT}
  • #24,552
  • Edited 6:54pm Mar 23, 2009 6:38pm | Edited 6:54pm
Quoting james16
this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.

it is very common for me to say out loud to my computer screen.

THANK YOU!!!

they rarely fail me if i "treat" them right.

i love it when i see that same graititude toward them from some of you.

they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.

the holy...
Its funny Jim, how you sense a graitutude towards these Bars as it has change your life over the years. I haven't really thanked the Bars. (yet) lol.

You see, when I see a hard and fast break of a well placed PB that takes place after patiently waiting for days, the THANK YOU is at the computer screen for sure. But its at a funny looking avatar with Merlin's head on it. Which is followed by,"The big guy (James16) is freaking awesome."

Thanks again for all that you and your team do.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #24,553
  • Mar 23, 2009 6:45pm Mar 23, 2009 6:45pm
I'm still learning so the bars are fricken b$&*#$* a*holes to me

  • #24,554
  • Mar 23, 2009 7:05pm Mar 23, 2009 7:05pm
If I were combining the two bars marked by the yellow arrow to create a 2 day pin bar, should my entry be based on:

  1. break of bar #1 (sky blue line)
  2. break of bar #2 (red line)

I realize that this set up would not have far to go before running into resistance, especially compared with the stop loss necessary.

Just wondering about appropriate entry when combining bars.

Thanks in advance....and slow this thread down so I can keep up!

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  • #24,555
  • Mar 23, 2009 7:14pm Mar 23, 2009 7:14pm
Quoting uBERpIP
If I were combining the two bars marked by the yellow arrow to create a 2 day pin bar, should my entry be based on:

  1. break of bar #1 (sky blue line)
  2. break of bar #2 (red line)

I realize that this set up would not have far to go before running into resistance, especially compared with the stop loss necessary.

Just wondering about appropriate entry when combining bars.

Thanks in advance....and slow this thread down so I can keep up!

Hey Uber

You would want to use the high of bar one if you were combining them both. If you were not looking at them as combined bars then you could trade the Inside bar by itself. But when you combine the bars you take open from the first, and close from the second. You then take the highest high of both, and the lowest low of both.

Best

Mike
  • #24,556
  • Mar 23, 2009 7:19pm Mar 23, 2009 7:19pm
Quoting uBERpIP
If I were combining the two bars marked by the yellow arrow to create a 2 day pin bar, should my entry be based on:

  1. break of bar #1 (sky blue line)
  2. break of bar #2 (red line)

I realize that this set up would not have far to go before running into resistance, especially compared with the stop loss necessary.

Just wondering about appropriate entry when combining bars.

Thanks in advance....and slow this thread down so I can keep up!

Break of the blue line. This is my exact setup that I took today. What caught my eye was the size of the 2 Day PB compared to the preceeding bars (candles). Entry above the setup to help confirmation, about 5-10 pips.

It this a A+ setup? No.

The location could have been a heck of alot better. Meaning at a deeper swing low. The resisitence you mentioned is correct, it needed more space to travel. I'm sure many would pass on this one. My approach was to have a tight stop loss and grab a decent amount and move to break even quickly.
Indicators show the past. Price Action "Indicates" the future.
  • #24,557
  • Mar 23, 2009 7:21pm Mar 23, 2009 7:21pm
Quoting james16
this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.

it is very common for me to say out loud to my computer screen.

THANK YOU!!!

they rarely fail me if i "treat" them right.

i love it when i see that same graititude toward them from some of you.

they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.

the holy grail...
my inspiration and the man for my thank yous
  • #24,558
  • Mar 23, 2009 7:33pm Mar 23, 2009 7:33pm
its a big big world out there... this game is dangerous and attracts some of the meanest sharks in the sea. ...one shark is enough to ruin your day.
  • #24,559
  • Mar 23, 2009 7:39pm Mar 23, 2009 7:39pm
Thanks for the fast reply guys!

I'm slowly starting to "see."

With my level of experience and what I perceive to be my mind set, I think I am much better suited to placing my trade with SL and TP set, and then just walking away from the computer.

Otherwise, I am likely to start second guessing or tinkering with the trade along the way, based on the tunnel vision of the moment.

Just need some legit screen time, focused on this one large concept presented in the thread.....to build the confidence that I can spot A+ trades.

Eventually I can then build that into actively managing the trade.

Quote
Break of the blue line. This is my exact setup that I took today. What caught my eye was the size of the 2 Day PB compared to the preceeding bars (candles). Entry above the setup to help confirmation, about 5-10 pips.
Quote
You would want to use the high of bar one if you were combining them both. If you were not looking at them as combined bars then you could trade the Inside bar by itself. But when you combine the bars you take open from the first, and close from the second. You then take the highest high of both, and the lowest low of both.
  • #24,560
  • Mar 23, 2009 7:55pm Mar 23, 2009 7:55pm
Quoting mbqb11
my inspiration and the man for my thank yous

My THANK YOUs have been at the many versions of Mr. Fudd.

God knows where my trading would be without Mr. Mike. Let the ramblings begin. lol.

Your one of the best around, brother.

Jim
Indicators show the past. Price Action "Indicates" the future.
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