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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

  • #25,041
  • Mar 27, 2009 8:52am Mar 27, 2009 8:52am
Excelent!, Mark

Quoting raczekfx
Trading plan for fiber from yesterday after replying to someone.
.............
..............
This is exactly why Jim stresses trading on a higher TF until you get good....

If you look at the ship from up close (1 min charts), you don't know where it's heading. When you jump on a plane and look from a distance (daily tf) you know exactly where it's heading or if perhaps it's turning)

With that thought... Have great weekend all. Trade wisely...
.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,042
  • Mar 27, 2009 9:08am Mar 27, 2009 9:08am
Quoting raczekfx
Trading plan for fiber from yesterday after replying to someone.
1. we've got our pa setup
2. wait for rac's favorite retrace
3. stop above PA or 61 if you're ultra cautious
4. sell
5. tp? if yes, take some or full profit

This is exactly why most of successful traders following j16 method, ignore the news (I meant analysis)...
euro missed my limit sell by 5 pips . . . oh well. more to come. thanks again. words of wisdom right there.
"Don't trade to trade . . . trade to win." - James16
  • #25,043
  • Mar 27, 2009 9:16am Mar 27, 2009 9:16am
Mark, waiting a bounce in Dow or you will hold your short positions?
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,044
  • Mar 27, 2009 9:33am Mar 27, 2009 9:33am
Quoting ikki
Mark, waiting a bounce in Dow or you will hold your short positions?
I was waiting for it to go to 7740, but right now I don't think it will go that low, unless someone irresponsible open his mouth again.

anyhow, closed fiber 3310 and reversed to long 3279
also long e/chf 1.5193 (5% on this one)(check the daily chart and look for jim's post/email in the pf )
looking to buy yen crosses....
  • #25,045
  • Mar 27, 2009 9:35am Mar 27, 2009 9:35am
Quoting 4fun
Scot Pippen, I had to laugh my morning has mimmic yours I woke up and saw I missed some easy pips no big, being on the west coast this happens have to sleep ocasionally hehe anyway poured an Irish coffee got my head back in the game and currently in eur/gbp trade @.9306. I really dont post much but you made me laugh!! Have a graet weekend this trade should ease the pain.
Yes damn sleep..I also caught 65 pips off the GBPCAD 4hr pinbar. So the cheapest therapy is to wait for the next trade. Have a good weekend! Maybe someday I can afford to live on the west coast
"Whether you think you can or can't, you're right." Henry Ford
  • #25,046
  • Mar 27, 2009 9:51am Mar 27, 2009 9:51am
Quoting raczekfx
I was waiting for it to go to 7740, but right now I don't think it will go that low, unless someone irresponsible open his mouth again.

anyhow, closed fiber 3310 and reversed to long 3279
also long e/chf 1.5193 (5% on this one)(check the daily chart and look for jim's post/email in the pf )
looking to buy yen crosses....
Hi raczekfx,

where is this Jame's post in the pf? I couldn't find it.

thanks
  • #25,047
  • Mar 27, 2009 9:52am Mar 27, 2009 9:52am
someday....

Quoting raczekfx
.............
also long e/chf 1.5193 (5% on this one)(check the daily chart..........
looking to buy yen crosses....
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,048
  • Mar 27, 2009 9:53am Mar 27, 2009 9:53am
look page 9, post 49

Quoting psneto
Hi raczekfx,

where is this Jame's post in the pf? I couldn't find it.

thanks
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,049
  • Mar 27, 2009 10:00am Mar 27, 2009 10:00am
Quoting raczekfx
I was waiting for it to go to 7740, but right now I don't think it will go that low, unless someone irresponsible open his mouth again.

anyhow, closed fiber 3310 and reversed to long 3279
also long e/chf 1.5193 (5% on this one)(check the daily chart and look for jim's post/email in the pf )
looking to buy yen crosses....
Hey Mark, just trying to observe and learn more about how you identify your entries. Where did you get 3279? I was watching 3300-3330, below there looked perilous? Were you using the 5min?

I don't see much on the daily ec either???
  • #25,050
  • Mar 27, 2009 10:04am Mar 27, 2009 10:04am
Quoting ikki
someday....
Thanks ikki, I found it.
  • #25,051
  • Mar 27, 2009 10:13am Mar 27, 2009 10:13am
Hey Mark, i guess I see the ec. Your just buying that ppz basically?
  • #25,052
  • Mar 27, 2009 10:25am Mar 27, 2009 10:25am
Quoting joebryce

I don't see much on the daily ec either???
this is what i see on daily..

re my entries.... It's better to wait for a meaningful PA, trust me. Right now there is nothing indicating longs and I'm just scalping 40-50 pips here and there...
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  • #25,053
  • Mar 27, 2009 10:44am Mar 27, 2009 10:44am
raczek,

On the Eur/Chf, it bounced off a ppz in the 1.51 area. Am I correct in seeing that?
Patience + Humility + Study = Success
  • #25,054
  • Mar 27, 2009 10:56am Mar 27, 2009 10:56am
nice ppz there..
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  • #25,055
  • Mar 27, 2009 10:57am Mar 27, 2009 10:57am
Quoting rustyjeff
nice ppz there..
Ahh.so i was seeing it correctly. Thanks jeff
Patience + Humility + Study = Success
  • #25,056
  • Mar 27, 2009 11:01am Mar 27, 2009 11:01am
Quoting DutchTrader
Ahh.so i was seeing it correctly. Thanks jeff
thats how i see it. zoom out some more & it becomes real obvious..
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  • #25,057
  • Mar 27, 2009 11:05am Mar 27, 2009 11:05am
PB on 4h + Fib and SR confluence.
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  • #25,058
  • Edited 6:00pm Mar 27, 2009 12:16pm | Edited 6:00pm
Quoting krue
I am getting into this trouble now...... all the earned pips evaporating

Quoting krue
what I will be doing is to keep this trade open and tight, first . . .
Well at least you got out at break even . . . . right?
Indicators show the past. Price Action "Indicates" the future.
  • #25,059
  • Mar 27, 2009 12:40pm Mar 27, 2009 12:40pm
I'm new here and I'm sure this question has been asked before....

Would you take a daily or 4hr PA bar on Friday afternoon? Is there a risk of holding a trade over the weekend or it gapping up or down on Sunday open?

Thanks
  • #25,060
  • Mar 27, 2009 1:09pm Mar 27, 2009 1:09pm
Quoting layton
I'm new here and I'm sure this question has been asked before....Would you take a daily or 4hr PA bar on Friday afternoon? Is there a risk of holding a trade over the weekend or it gapping up or down on Sunday open? Thanks
at this point i am looking at the weekly charts and planning for next week....
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