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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

  • #25,081
  • Mar 27, 2009 4:43pm Mar 27, 2009 4:43pm
A profitable daily pin bar in soybeans with confluence at 61 fibo targeting the 900 level.
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It's all about cautious - and highly educated - wagering on probabilities.
  • #25,082
  • Mar 27, 2009 4:45pm Mar 27, 2009 4:45pm
Quoting ikki
look page 9, post 49
Sorry, where is the post in the PF? In the forums? I can't find it lol
  • #25,083
  • Mar 27, 2009 4:46pm Mar 27, 2009 4:46pm
Quoting Santana55
A profitable daily pin bar in soybeans with confluence at 61 fibo targeting the 900 level.
Yeah, I saw that Santana. Very nice. Did you notice why it had trouble breaking?
Indicators show the past. Price Action "Indicates" the future.
  • #25,084
  • Mar 27, 2009 4:58pm Mar 27, 2009 4:58pm
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) written by 'analysts'...

If they were good traders, they wouldn't have to earn a living by writing stories. When they wrong, they twist a story around and come out with a new analysis, correction theory or another...

Rac,

When you say "your favorite retracement" as mentioned in the post above are you referring to taking a Fib retracement of the PA bar itself as opposed to using swing highs/lows?

If so, do you use this methos to fine tune your entry? I've never really considered using fibs in this manner.
It's all about cautious - and highly educated - wagering on probabilities.
  • #25,085
  • Mar 27, 2009 5:01pm Mar 27, 2009 5:01pm
Quoting jarroo
Yeah, I saw that Santana. Very nice. Did you notice why it had trouble breaking?

Jaroo,

The bar following the PB closed above support and this put the brakes on for a day or so. Once it broke under that PPZ the move was confirmed and beans followed corn and wheat down.
It's all about cautious - and highly educated - wagering on probabilities.
  • #25,086
  • Mar 27, 2009 5:09pm Mar 27, 2009 5:09pm
Quoting jarroo
Could some post a Daily Eur/Jpy. Is that a DBHLC on the Daily or close to one?

Not only that but a weekly PB at same level adding some more confluence to a short biased trade.
It's all about cautious - and highly educated - wagering on probabilities.
  • #25,087
  • Mar 27, 2009 5:14pm Mar 27, 2009 5:14pm
ahhh man i aint nobody but im glad if you at least made breakeven on this.

jim

Quoting krue
Jim, as always, I am so grateful for your mentoring. after seeing your yestodays' comment, I told my girlfriend that I really love this man, she was excited too.

okey, let me try to answer the question as a learning opportunity for your review, kick me off if I made wrong point. thank you.

what I will be doing is to keep this trade open and tight, first target point is .9500, then, 0.9600. I believe in this pair has the energy to reach its historical high, and nothing more than that if I am not wrong.

I haven't had such a pleasant chat in...
  • #25,088
  • Mar 27, 2009 5:17pm Mar 27, 2009 5:17pm
welcome sn,

jim

Quoting sn3h
Btw good morning, and thanks for nice thread.... I've been scouting around for a long time, this is the first post
  • #25,089
  • Mar 27, 2009 5:28pm Mar 27, 2009 5:28pm
Quoting markmm
Note: Check the log tab on the main NT window. If it mentions PlaySound then ive attached a new version, and a sound file which must be unzipped to sit in root C: and keep the name (Alert.wav).
I'm not even that far unfortunately. I loaded ninajtrader, conntected to the gain feed, and have the "multi instrument strat" in the label marked "strategies". I don't see that pretty window you made at all. I've searched through FAQ trying to figure this out, man, I am not good at this stuff. If you could help me out from there, just a quick pop in the right direction, that would be great. Ty
  • #25,090
  • Mar 27, 2009 5:29pm Mar 27, 2009 5:29pm
ok this might be post one material.

jim

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) written by 'analysts'...

If they were good traders, they wouldn't have to earn a living by writing stories. When they wrong, they twist a story around and come out with a new analysis, correction theory or another...
  • #25,091
  • Mar 27, 2009 5:48pm Mar 27, 2009 5:48pm
Quoting james16
ok this might be post one material.

jim
Carefull Jim; Your shakespear is showing.
  • #25,092
  • Mar 27, 2009 5:54pm Mar 27, 2009 5:54pm
Quoting jarroo
we want to manage our trade off the Weekly and/or Daily time frames. If we see a reversing PB on the Hourly or 4 hour charts, this doesn't mean we end our trade. (for me at least.) It also doesn't mean that these lower time frame PBs won't work out. They may work out just fine but their life may be short lived. I can show this better with charts but I can't post them now.
Jarroo look no further than my bonehead mistake last week. USDCAD, I let a small 4hr pinbar scare me out of a weekly trade. It cost me well over 200 pips. I had it in my mind to reenter a sell but I froze up.

Learn from my mistakes guys cuz I make plenty lol.
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"Whether you think you can or can't, you're right." Henry Ford
  • #25,093
  • Mar 27, 2009 5:57pm Mar 27, 2009 5:57pm
aud/usd weekly: nice pin bar on 0.7 + 38.2 fib.

eur/jpy weekly: extremely nice pin bar on 133 + 38.2 fib.

what do you think?
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  • #25,094
  • Mar 27, 2009 6:01pm Mar 27, 2009 6:01pm
Quoting Eclipse
what do you think?
I think next week is gonna be a good week.

"Whether you think you can or can't, you're right." Henry Ford
  • #25,095
  • Mar 27, 2009 6:15pm Mar 27, 2009 6:15pm
Quoting Santana55
Jaroo,

The bar following the PB closed above support and this put the brakes on for a day or so. Once it broke under that PPZ the move was confirmed and beans followed corn and wheat down.
Member since March 2009? Is that a misprint. You sound like an old veteran.
Very nice Santana.
Indicators show the past. Price Action "Indicates" the future.
  • #25,096
  • Mar 27, 2009 6:17pm Mar 27, 2009 6:17pm
Quoting Scot Pippin'
I think next week is gonna be a good week.

i hope so, even if it's going to be good just for my demo account..lol!
it seems a pretty simple stuff, but following jim's first page rules is not that easy...
i'm forcing myself to follow them very strictly...
  • #25,097
  • Mar 27, 2009 6:20pm Mar 27, 2009 6:20pm
EUR_JPY Spot.png

this one looks TEMPTING.......

baz
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  • #25,098
  • Mar 27, 2009 6:24pm Mar 27, 2009 6:24pm
Quoting Scot Pippin'
Jarroo look no further than my bonehead mistake last week. USDCAD, I let a small 4hr pinbar scare me out of a weekly trade. It cost me well over 200 pips. I had it in my mind to reenter a sell but I froze up.

Learn from my mistakes guys cuz I make plenty lol.
I'm right with you Scot P.
I wrote that from my own many, many bonehead mistakes . . . let's call them missteps. lol

Its one thing if your trade started on the 4 hour time, but the Weekly is a whole different ball game.

Always learning and improving.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #25,099
  • Mar 27, 2009 6:32pm Mar 27, 2009 6:32pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Jim, I had similar trade with AUDJPY on the date of Mar.25.09, with a breakeven; I didn't move my stop for this pair - EURGBP, just want to see how thing might develop. I am doing this for an opportunity to going through the entire process managing daily trade, I still have the believe this pair will go to its place (.9500,.9600 and porbably .9800). now, I have a H4 bullish Pinbar to backup, weekly isn't that bad, and the trend is with me, though a resistance is interrupting its way up. so, I am still interesting to see how thing might develop. of cause, the upcoming time will be very stressful. I am glad I have an opportunity thinking together with you and other experienced traders, this is worth more than the pips.








Quoting james16
ahhh man i aint nobody but im glad if you at least made breakeven on this.

jim
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: stressful eurgbp h4 w pinbar _ mar.28.09.gif Size: 10 KB
  • #25,100
  • Mar 27, 2009 6:43pm Mar 27, 2009 6:43pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
hey, jarroo, I am taking better position to understand where issues might come from. looking into weekly chart, you may realise why this pair moves in a difficult situation. I could be wrong, but, I believe in there is high probability this could happen at this location. thank a lot for your attention, buddy.

Quoting jarroo
Well at least you got out at break even . . . . right?
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