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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

  • #26,781
  • Apr 9, 2009 7:31pm Apr 9, 2009 7:31pm
Quoting raczekfx
Almost none. I showed 1hr to make fib retracement stand out better. I usually take a quick look at the location (low) of the left eye plus fibs. Those are my reference points. Not saying, I'm trading retracements all the time.
Thanks for reply mark.Will note what you said.
  • #26,782
  • Apr 9, 2009 7:44pm Apr 9, 2009 7:44pm
Quoting markmm
Sorry Jim, I disagree, eveything you teach told me to stay out of this trade (PA pointing into a brick wall). I prefer to have not traded this than have a 30 pip loss.

Mark mm

Quoting dengzhi
agreed, i followed what Jim has been teaching all along and to me this was not an A+ setup (running into strong S/R zone and plus the look of the candle wasn't that great), therefore i did not take the trade. I am patiently waiting for the next perfect setup only on daily or higher TF.
Good Job guys, your on your way to a better trading life.

I sometimes view a potential "A" trade differently then Mike and Jim. Or should I say, a more aggressive approach at times. lol

When the end of the month comes and a trading review is taken, the Jim and Mike A+ trades win every time. Not sometimes . . . . . every time.

Also I need to reprint Jim's " THIS IS CRITICAL . ." info next to my computer in bolder print.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #26,783
  • Apr 9, 2009 7:47pm Apr 9, 2009 7:47pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
today seems not much to play, uhm? need some exercise to calm myself down. huhhhh, tough life
  • #26,784
  • Apr 9, 2009 8:00pm Apr 9, 2009 8:00pm
Quoting krue
today seems not much to play, uhm? need some exercise to calm myself down. huhhhh, tough life
Not much all week imo, but been fun, nice and relaxing Few trades, few bucks, lots of R&R
  • #26,785
  • Apr 9, 2009 8:35pm Apr 9, 2009 8:35pm
Quoting mrsingha
Morning all,
NU looks good but none of the other Yen pairs have similar setups.
As they all tend to move in unison would this not put any doubt in your mind?

Steve.
It can. BUT it's the NZD that was moving. This pair gave the opportunity I liked amongst the NZ pairs.

Not an A++ trade by a long shot, but great chance of getting some profit locked in.

Sorry mate, I missed your post originally , just seen it then.

Chart...
Attached Image
Bundy's status today: "Waiting..."
  • #26,786
  • Apr 9, 2009 9:16pm Apr 9, 2009 9:16pm
Interesting to observe things like this.

Not going to add any more to my position here. Very happy where I am.

The spread is crap this time of day, otherwise I'd put in a quick order to take a few pips and, depending on PA, keep some on just like yesterdays "add to".

Doing a lot of watching of things like this gives you a good understanding of support/resistance. i.e. Which ones should I ignore, which ones are going to be brick walls and which ones will give an opportunity for a free trade.

Sorry about the five minute stuff. Just the way it's worked out at the minute. At least it gives a few hangers on here something to look at. Actually keen to get some sun. So back to the larger TFs now. Beautiful day outside.

.
Attached Image (click to enlarge)
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Bundy's status today: "Waiting..."
  • #26,787
  • Apr 9, 2009 9:29pm Apr 9, 2009 9:29pm
Hey everyone,

I was just checking to make sure I am drawing my horizantal S&R lines in the correct spots.

Do they look ok?

Thanks

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp horizontals.gif Size: 18 KB
"Luck favors the prepared mind"
  • #26,788
  • Apr 9, 2009 9:44pm Apr 9, 2009 9:44pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
bundy, many screen hours before getting a good feel about S/R?

Quoting bundyraider
Interesting to observe things like this.

Not going to add any more to my position here. Very happy where I am.

The spread is crap this time of day, otherwise I'd put in a quick order to take a few pips and, depending on PA, keep some on just like yesterdays "add to".

Doing a lot of watching of things like this gives you a good understanding of support/resistance. i.e. Which ones should I ignore, which ones are going to be brick walls and which ones will give an opportunity for a free trade.

Sorry about the five minute stuff. Just the...
  • #26,789
  • Apr 9, 2009 10:28pm Apr 9, 2009 10:28pm
Quoting krue
bundy, many screen hours before getting a good feel about S/R?
How long's a piece of string? lol

You get a big head start by coming to this thread.

Just stick to the main levels for your trades and the rest just comes over time.
Bundy's status today: "Waiting..."
  • #26,790
  • Apr 9, 2009 10:38pm Apr 9, 2009 10:38pm
Quoting jpa0827
Hey everyone,

I was just checking to make sure I am drawing my horizantal S&R lines in the correct spots.

Do they look ok?

Thanks

Jim
They look great Jim. I got the same levels. It looks like you started on the Weekly which is a great place to start your search. The strong ones will be the same on the Daily and Weekly. I like to highlight areas on the Daily (green line) that stand out as well.

Looking good.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #26,791
  • Apr 9, 2009 11:13pm Apr 9, 2009 11:13pm
Thanks Jarroo,

You are correct. I did start with the weekly. I like your thoughts on making the daily S/R green. I'll be doing that in the future.
"Luck favors the prepared mind"
  • #26,792
  • Apr 9, 2009 11:30pm Apr 9, 2009 11:30pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
thanks,bundy, for the insightful advise. simplicity is powerful, so, agreed, will stick the major ones to start with and enrich the knewledge with details step by step.

Quoting bundyraider
How long's a piece of string? lol

You get a big head start by coming to this thread.

Just stick to the main levels for your trades and the rest just comes over time.
  • #26,793
  • Apr 9, 2009 11:32pm Apr 9, 2009 11:32pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hey, Jlr, how is everything going? I dropped you a PM a few minutes ago. happy trading

Quoting Jlr
Not much all week imo, but been fun, nice and relaxing Few trades, few bucks, lots of R&R
  • #26,794
  • Apr 9, 2009 11:33pm Apr 9, 2009 11:33pm
Needless to say, I'm very impressed with Jim's methods, and approach.
I've been studying Jacko's method for about a year, still hear many good things about the James 16 group, and seriously am thinking about joining it.

It seems like you have to make some kind of commitment to really get something out of a teaching as opposed to spending alot of time in these threads, it's kind of like going to school................lol

Once your enrolled, you either commit to the learning or drop out.
  • #26,795
  • Apr 10, 2009 12:02am Apr 10, 2009 12:02am
Hello All,

I have been reading this thread for years off/on. I finally broke down and made a decision to be serious about practicing the material. So I first want to start off by saying THANKS to everyone that posts here. The sharing of ideas no matter how big or how small make this thread a great place. I look forward to my continued readership and interaction with all of you.

Thanks Jarroo for this post, I saved it to remind me of this trade. I took the EUR/USD trade also with a 181 pip loss. Man was I blind for not seeing the 1.335ish area of resistance. That was surely a good lesson about running into brick walls with a blindfold on


Quoting jarroo
Took a -30 pip loss on this one, because I got away from my trading plan.

I didn't do #1., #2., #3. and definetly not #4.

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

Notice a strong s/r area just beyond our pa if it exists.

Know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay...
  • #26,796
  • Apr 10, 2009 12:24am Apr 10, 2009 12:24am
Quoting Aliassmith
Hello All,

I have been reading this thread for years off/on. I finally broke down and made a decision to be serious about practicing the material. So I first want to start off by saying THANKS to everyone that posts here. The sharing of ideas no matter how big or how small make this thread a great place. I look forward to my continued readership and interaction with all of you.

Thanks Jarroo for this post, I saved it to remind me of this trade. I took the EUR/USD trade also with a 181 pip loss. Man was I blind for not seeing the 1.335ish area...

"This is CRITICAL" info from James16 was a huge piece of the puzzle for me when I started putting it all together. I was finding great PA setups with good results but something was missing to allow me to manage these trades more efficiently. This was IT.

"This is CRITICAL" info is the second step when I search for that great PA setup. The first step is patiently waiting for the ideal situation when a PA formation presents itself at the best location with strong supporting confluences. When that happens, then this second step becomes very easy.

Glad to have you here Al. I look forward to seeing some of your charts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #26,797
  • Apr 10, 2009 12:25am Apr 10, 2009 12:25am
Quoting raczekfx
it all depends how you approach that pin. There a couple of schools for every pin..
.
rac, you da man !!

i let my eu/yen trade run from +80 something to - 5 yesterday so you guys on the eu/us trade dont feel so bad!! hehe( got out with same loss - 5 or so)
jon
EDIT: actually it was - 1,just checked.
PATIENCE... DISCIPLINE
  • #26,798
  • Apr 10, 2009 12:30am Apr 10, 2009 12:30am
2 questions please...
how do you multi qoute posts???
what are you guys using to put the text boxes on your charts??
thanx jon
PATIENCE... DISCIPLINE
  • #26,799
  • Apr 10, 2009 12:35am Apr 10, 2009 12:35am
Quoting g_j_hook@yah
2 questions please...
how do you multi qoute posts???
what are you guys using to put the text boxes on your charts??
thanx jon
Multi post: Open another window of the thread and find the 2nd quote you want, highlight it and use "Ctrl" "C". Then in the 1st post use "Ctrl" "V".

That's what I do.
Indicators show the past. Price Action "Indicates" the future.
  • #26,800
  • Apr 10, 2009 12:43am Apr 10, 2009 12:43am
Quoting jarroo
Multi post: Open another window of the thread and find the 2nd quote you want, highlight it and use "Ctrl" "C". The in the 1st post use "Ctrl" "V".

That's what I do.
thanx jarroo.
EDIT: got it, thanx again
PATIENCE... DISCIPLINE
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