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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

  • #27,541
  • Apr 20, 2009 7:07pm Apr 20, 2009 7:07pm
Quoting psneto
What do you guys think about the PB on EUR/JPY on 4H, nzd/usd 4h and USD/chf 4h and daily?
hehe I'm pretty sure EUR/JPY was not a good one... one more for the collection
  • #27,542
  • Apr 20, 2009 7:15pm Apr 20, 2009 7:15pm
Quoting psneto
hehe I'm pretty sure EUR/JPY was not a good one... one more for the collection
The 3 charts you posted...NZD/USD was not a pin bar and swiss and EJ were very small. All 3 countertrend on the 4 hour. Odds were way against you. I didn't look to see if any were at S/R either. Something that has helped me and others around here is to look for reasons NOT to trade. Less is more
  • #27,543
  • Apr 20, 2009 7:16pm Apr 20, 2009 7:16pm
Quoting bundyraider
Was about to edit my post, but now that you've read it... There are .PDF documents attatched to the original threads somewhere. They'll be the right threads to check out.

Look up Dialist. He started the original threads I think. Pretty sure. ...And it was he who came up with the knife system additions anyway.
I've found this thread here:

http://www.forexfactory.com/showthre...tunnel+trading

looks like a some kind of summary. Is there the most stuff being located ? What PDF files do you mean Bundy ?
Sorry again for topic on the james16 thread, hope I won't be thrown through the window for these questions.
Thank you very much Bundy.
  • #27,544
  • Apr 20, 2009 7:19pm Apr 20, 2009 7:19pm
Hi GUys

Don't see any good setups on daily/weekly - that's 2 days of sticking to my rulesdiscipline, so just another 88 days to go as recommended by J16! You have to start somewhere, right?

Will bid you all good night/trading, as it's 1.20 am here in Bonnie Scotland now,

berti
PA is where its at!!
  • #27,545
  • Apr 20, 2009 7:38pm Apr 20, 2009 7:38pm
Hello All,

Looking for some advice. I have never traded a pair that did not include the USD. I'm in the US, so my trading currency is dollars. Is there anything I should be aware of? For example, if I go long the pound/yen and get a winner, won't my earnings be affected by how the pound/dollar did, as well? Just not sure of the mechanics and how my profits/losses will be affected.

Thanks in advance.
"A is A"
  • #27,546
  • Apr 20, 2009 8:31pm Apr 20, 2009 8:31pm
Quoting catiron
Hello All,

Looking for some advice. I have never traded a pair that did not include the USD. I'm in the US, so my trading currency is dollars. Is there anything I should be aware of? For example, if I go long the pound/yen and get a winner, won't my earnings be affected by how the pound/dollar did, as well? Just not sure of the mechanics and how my profits/losses will be affected.

Thanks in advance.
pound/yen = pound/usd x usd/jpy. Thus both currencies affect pound yen. I don't usually trade cross trade besides euro yen due to their high volatility and low predictability.
  • #27,547
  • Apr 20, 2009 8:51pm Apr 20, 2009 8:51pm
Quoting Life of Pi_p
The 3 charts you posted...NZD/USD was not a pin bar and swiss and EJ were very small. All 3 countertrend on the 4 hour. Odds were way against you. I didn't look to see if any were at S/R either. Something that has helped me and others around here is to look for reasons NOT to trade. Less is more

Yes.,.. I need to keep this in my mind all the time... I don't know what's happening but I've been chosing the worst pairs to trade lately... argh

Thanks for reminding me!
  • #27,548
  • Apr 20, 2009 9:09pm Apr 20, 2009 9:09pm
Quoting pakiestra
... I will do a search and see what's that stuff is about.
I traded knife for over two years with not bad results.
It's the superior tweak of the infamous vegas guy. It works very well in a trending market, but I ran into some problems in a wild swings, like we're experiencing right now.
It is only my opinion off course, but If I were you, I would just commit 100% of my time to j16PA method. Once you get enough practice here, you will never look anywhere else.
Trust me...

p.s. i think knife was a bit too conservative for my persona...
  • #27,549
  • Apr 20, 2009 11:11pm Apr 20, 2009 11:11pm
Quoting raczekfx
It is only my opinion off course, but If I were you, I would just commit 100% of my time to j16PA method. Once you get enough practice here, you will never look anywhere else.
Trust me...
Ditto that, brother.
Indicators show the past. Price Action "Indicates" the future.
  • #27,550
  • Edited 11:20pm Apr 20, 2009 11:18pm | Edited 11:20pm
Hi all,
first post here,
is it a good 12H PB?
above 5500 and ema365
http://www.imageurlhost.com/images/x...zll0radpjm.jpg
  • #27,551
  • Apr 21, 2009 12:15am Apr 21, 2009 12:15am
Quoting bakko85
Chart!
Looks good bakko,

I'd love to see some rejection off the 7050 level which is also the 50 fib of the recent swing.

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: au 4h.gif Size: 11 KB
I believe . . .
  • #27,552
  • Apr 21, 2009 12:24am Apr 21, 2009 12:24am
Quoting qwer2004
Hi all,
first post here,
is it a good 12H PB?
above 5500 and ema365
http://www.imageurlhost.com/images/x...zll0radpjm.jpg
Why would you need a whole bunch of stars to tell you which bar is a PA bar mate?

I can understand that it is perhaps facilitating you in some way but trust me you're hurting your skills by depending on such indicators

Just as a brotherly advise I would want you to get rid of all these flashy indis and train your naked eye to spot the PA bars and setups. The talisman of naked trading is just one of the few rocking advantages of following the teachings contained in this thread and by cramping your charts up you're hurting your eyes and perception.

Secondly since you're just staring off it is highly recommended that you DO NOT merge bars. Stick to the basics first. Pull up your daily chart and start looking for the few A+ setups that pop up every month.



Regards,
Ghous.
I believe . . .
  • #27,553
  • Apr 21, 2009 12:39am Apr 21, 2009 12:39am
Quoting ghous
Why would you need a whole bunch of stars to tell you which bar is a PA bar mate?

I can understand that it is perhaps facilitating you in some way but trust me you're hurting your skills by depending on such indicators



Regards,
Ghous.
Thanks for your advice
is NZD/USD a similar story as your AUD/USD chart above?
fibo 61.8, wait for some rejection after the retracment


Regards
Enoch

http://www.imageurlhost.com/images/e...siojke8q20.jpg
  • #27,554
  • Apr 21, 2009 1:06am Apr 21, 2009 1:06am
Thanks for the chart and analysis man.
Can u share where to get all these indicator i love them
  • #27,555
  • Apr 21, 2009 1:26am Apr 21, 2009 1:26am
Quoting ghous
...
On the chart you marked up a beob. Can a beob also look like this, or is it only where the 2nd bar's H & L totally encompass the first bar?
WARNING: Don't follow me as I'm just learning
  • #27,556
  • Apr 21, 2009 1:48am Apr 21, 2009 1:48am
Quoting adam777
On the chart you marked up a beob. Can a beob also look like this, or is it only where the 2nd bar's H & L totally encompass the first bar?
yeah the second bar must have a Higher high and a lower low then the previous bar with a close near the bottom portion of the bar.

The bar marked above is just a BEB(bearish bar)


Best
Mike
  • #27,557
  • Apr 21, 2009 3:24am Apr 21, 2009 3:24am
Quoting adam777
On the chart you marked up a beob. Can a beob also look like this, or is it only where the 2nd bar's H & L totally encompass the first bar?
My bad Adam, I was in a hurry,

That is not a beob it's just a bearish bar as Mike pointed out, in which case it is obviously untradable,

sorry for the confusion

Regards,
Ghous.
I believe . . .
  • #27,558
  • Apr 21, 2009 3:41am Apr 21, 2009 3:41am
[quote=raczekfx;2682678]
It is only my opinion off course, but If I were you, I would just commit 100% of my time to j16PA method. Once you get enough practice here, you will never look anywhere else.
Trust me.../quote]

Would you tell as how much is enough please?
  • #27,559
  • Apr 21, 2009 3:53am Apr 21, 2009 3:53am
Quoting ghous
My bad Adam, I was in a hurry,

That is not a beob it's just a bearish bar as Mike pointed out, in which case it is obviously untradable,

sorry for the confusion

Regards,
Ghous.
I thought so but I thought it may be something new. I do appreciate your posts and I'm always learning something new.

Thank you!
WARNING: Don't follow me as I'm just learning
  • #27,560
  • Apr 21, 2009 4:06am Apr 21, 2009 4:06am
[quote=alter;2683395]
Quoting raczekfx
It is only my opinion off course, but If I were you, I would just commit 100% of my time to j16PA method. Once you get enough practice here, you will never look anywhere else.
Trust me.../quote]

Would you tell as how much is enough please?

Hello alter,
this is really good and friendly advice. They adviced me the same ysterday, and the truth is that we can be as good as they are, but we have to work really much.
"Enough" - would be when we will start saying it to others - in my opinion.

Peter
Jesus Christ is my only Lord !
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