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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

  • #27,421
  • Apr 20, 2009 3:18am Apr 20, 2009 3:18am
Quoting alter
So the traffic is more important then PPZ+fib confluence?
I found that there is always traffic unless I trade extreme high or extreme low as BuOB you have shown. Unfortunatelly these trades are very rare .
Since we don't live in an utopia (DO we?) the good opportunities will be rare Alter. Except this fact, and embrace it. Good traders don't need anything more than these "rare" setups

Regards,
Ghous.
I believe . . .
  • #27,422
  • Apr 20, 2009 3:25am Apr 20, 2009 3:25am
Target hit.

Great session gang. Gotta go.

Later.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #27,423
  • Apr 20, 2009 3:26am Apr 20, 2009 3:26am
Quoting raczekfx
treat it as H&S
When you come to think of it, H&S is nothing else but a... pinbar
One Chart is Worth Ten Thousand Words.
  • #27,424
  • Apr 20, 2009 3:27am Apr 20, 2009 3:27am
Quoting pipmyride
Sorry - talking about this area
mornin pipmyride, i would have loved to have been awake for that lttle pattern,i had closed half of my possition when the consolidation started and went bed,it would have been a great way,imo, of putting it back on with very little risk (or much bigger pip value) my plan now is to see if price breaks the TL and look for some pa to add to my possition further if price retraces.
still, nice to wake up to +130!! (stop on last half now at 1.4650)
jon
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PATIENCE... DISCIPLINE
  • #27,425
  • Apr 20, 2009 3:30am Apr 20, 2009 3:30am
Jaroo do you think this 2D BeOB on GBPUSD has no traffic on the left side?
Well, I see a lot of bars, how would you classify that?
  • #27,426
  • Apr 20, 2009 4:00am Apr 20, 2009 4:00am
She's really moving now. Take me to the moon.

Stop loss keeps moving down.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,427
  • Apr 20, 2009 4:02am Apr 20, 2009 4:02am
Quoting jarroo
She's really moving now. Take me to the moon.

Stop loss keeps moving down.

This was me saying: be patient - I doubt it will go down

Peter
Jesus Christ is my only Lord !
  • #27,428
  • Apr 20, 2009 4:05am Apr 20, 2009 4:05am
Quoting alter
Jaroo do you think this 2D BeOB on GBPUSD has no traffic on the left side?
Well, I see a lot of bars, how would you classify that?
Good question alter. The traffic on this setup was a concern, absolutely. But the swing high, PA formation and off a strong round number (1.5000.) gave me the green light to take the trade.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,429
  • Apr 20, 2009 4:13am Apr 20, 2009 4:13am
Quoting alter
Jaroo do you think this 2D BeOB on GBPUSD has no traffic on the left side?
Well, I see a lot of bars, how would you classify that?
This was a more ideal situation on the chart you posted. Notice what happen to Price when it reached above the red circle at the red line. Price started coming down.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,430
  • Apr 20, 2009 4:16am Apr 20, 2009 4:16am
Hi guys

Starting my 3 month period on the dailies /weeklies today as per james 16 methodology. Have scanned my charts on 18 or so pairs and do not see any setups at the moment. Just wondered if anyone has spotted any potential setups I may have missed? Resisting the temptation to move down to the 4hour!!

berti
PA is where its at!!
  • #27,431
  • Apr 20, 2009 4:19am Apr 20, 2009 4:19am
Quoting bertie123
Hi guys

Starting my 3 month period on the dailies /weeklies today as per james 16 methodology. Have scanned my charts on 18 or so pairs and do not see any setups at the moment. Just wondered if anyone has spotted any potential setups I may have missed? Resisting the temptation to move down to the 4hour!!

berti
Great stuff Bertie

For my money I see no A+ trades on the highers for today

You gotta get used to a whole bunch of such days, honestly you'll do yourself wonders if you do!!!
I believe . . .
  • #27,432
  • Apr 20, 2009 4:22am Apr 20, 2009 4:22am
Quoting jarroo
Very nice Alias. Good eye. Yes I'll combine many different time periods when Price has reached a good location and confluence.

My only concern is the size of the 3 Day PB, may not be strong enough.

Bounce of the 1.2000, extra special round number and the 1.2100 is very strong as well. Strong break of the 1.2200 not the PB, very good.

Also look for the break of the 1.2200 then retrace back. 1.2200 then may act as support from resistence.

Well done sir.

Jim

Hey AliasSmith. How's that 3 Day PB looking on the Cad.


Alright now, I really got to go.

Later,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #27,433
  • Apr 20, 2009 4:26am Apr 20, 2009 4:26am
Quoting ghous
Great stuff Bertie

For my money I see no A+ trades on the highers for today

You gotta get used to a whole bunch of such days, honestly you'll do yourself wonders if you do!!!
Thanks Ghous,

Good to receive encouragement from a guy like yourself - have followed your journey thru the thread and would like to get to where you are now. This is the start for me in terms of developing patience and discipline, as I know it is the only way to go!

Cheers man,

berti
PA is where its at!!
  • #27,434
  • Apr 20, 2009 4:29am Apr 20, 2009 4:29am
Quoting bertie123
Hi guys

Starting my 3 month period on the dailies /weeklies today as per james 16 methodology. Have scanned my charts on 18 or so pairs and do not see any setups at the moment. Just wondered if anyone has spotted any potential setups I may have missed? Resisting the temptation to move down to the 4hour!!

berti
Berti,
I didn't take any trades either. Lots of people combined daily bars and took the 2day BEOB on GBP/USD off of the 150.00 PPZ, which is turning out to be a great trade.
Not concerned about 'missing' it though. I'm not combining bars yet.

Good patience Berti,

Josh
  • #27,435
  • Apr 20, 2009 4:57am Apr 20, 2009 4:57am
Quoting Jduester
Berti,
I didn't take any trades either. Lots of people combined daily bars and took the 2day BEOB on GBP/USD off of the 150.00 PPZ, which is turning out to be a great trade.
Not concerned about 'missing' it though. I'm not combining bars yet.

Good patience Berti,

Josh
nice 1 josh for sticking to your plans,the gb trade had plenty to tempt a less disiplined person. well done mate.you know your trades will come and you know trading you plan will win for you over all. all signs of a trader who can make it imo.
jon
PATIENCE... DISCIPLINE
  • #27,436
  • Apr 20, 2009 5:01am Apr 20, 2009 5:01am
Quoting bertie123

patience and discipline

.....

berti
my two favourite words!!! when i can master these two last major lessons i will make it also! wish id got it as early as yourself! nice one
PATIENCE... DISCIPLINE
  • #27,437
  • Apr 20, 2009 5:10am Apr 20, 2009 5:10am
Guys

It is so good to receive encouragement from people on this thread - makes me more determined to succeed at trading. I know it is not easy but I want to give it my best shot and this is the best thread in the trading world that I have come across.

berti
PA is where its at!!
  • #27,438
  • Apr 20, 2009 5:12am Apr 20, 2009 5:12am
anyone party to the aussie down fall!!!??
i slept through my setup.( forgive me for posting a non j16 set up)a nicley formed triangle(or possibly a diamond)break and a retrace to the break price area. this would have confirmed the set up for me.
well done to anyone who is short right now!
cheers
jon
gb trade = +235(whats left of it) isnt it times like these when you wish you had left the full possition open!!
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PATIENCE... DISCIPLINE
  • #27,439
  • Apr 20, 2009 5:53am Apr 20, 2009 5:53am
Quoting bertie123
Hi guys

Starting my 3 month period on the dailies /weeklies today as per james 16 methodology. Have scanned my charts on 18 or so pairs and do not see any setups at the moment. Just wondered if anyone has spotted any potential setups I may have missed? Resisting the temptation to move down to the 4hour!!

berti
Sounds good. You don't lose money being out of the market.

I've been involved in discussions about the strong cable short signals the past day and yet still missed taking advantage of it. Not willing to chase the market. It means waiting even longer for another trade.

Resisting that temptation to move down is a big deal mate. Never ignore the significance of being able to wait. It's a key trait you need to be successful.

If there were any set ups you missed on the daily, someone would have piped up. Believe me. There's lot's of us ready to post the really good set ups when they finally come along. They'll all come at once. You watch. lol
.
Bundy's status today: "Waiting..."
  • #27,440
  • Apr 20, 2009 5:55am Apr 20, 2009 5:55am
Quoting g_j_hook@yah
anyone party to the aussie down fall!!!??
i slept through my setup.( forgive me for posting a non j16 set up)a nicley formed triangle(or possibly a diamond)break and a retrace to the break price area. this would have confirmed the set up for me.
well done to anyone who is short right now!
cheers
jon
gb trade = +235(whats left of it) isnt it times like these when you wish you had left the full possition open!!
Hook,

This looked like a classic BPC trade, but because its on the 1 hr I would not have taken it at the moment as I am on daily and weekly - not seeing any setups on these TFs at the moment.
PA is where its at!!
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