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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

  • #30,841
  • May 23, 2009 2:50pm May 23, 2009 2:50pm
Quoting lddd
thanks jigsaw for your nice detailed answers on my previous questions.

i got another one before going out... are trades allready triggered during the candle is still building up and forming (daily time frame) or do i just have to check every chart 5 minutes before a trading day is over and a candle finished? So in my understanding on trading a daily timeframe with price action one candle would represent one trading day with its open/close and highs and lows. So i would wait until this candle is formed (at the end of one trading day) and looking...
Hi lddd,

A good way to work is to mark the important support resistance areas on your charts (all pairs, you can do this any time, and you only do it once then update it now and again). I would do this on weekly (watch this video from James16 guest videos for how to do this). Then when you get a pin bar off a pivot zone then it has higher probability.


To be honest its best to either read this whole thread or a quicker opion is to join the private forum as there are videos and lots of educational information.


Hope that helps

Mark
Economists have forecast 9 out of the last 5 recessions
  • #30,842
  • May 23, 2009 2:54pm May 23, 2009 2:54pm
Quoting TotalNewbie
Well said. That's also been my experience. I wonder why it took so long for me to get it even though I read about it repeatedly in this thread, and even watched videos explaining it on the website.
I guess if it was just a matter of reading it then we would all be like Jim/Mike etc after reading the thread, I think you need to hear some things over and over sometimes before it clicks otr your brain connects the neurons to have that moment of clarity.
Economists have forecast 9 out of the last 5 recessions
  • #30,843
  • May 23, 2009 3:12pm May 23, 2009 3:12pm
Quoting markmm
Hi lddd,

A good way to work is to mark the important support resistance areas on your charts (all pairs, you can do this any time, and you only do it once then update it now and again). I would do this on weekly (watch this video from James16 guest videos for how to do this). Then when you get a pin bar off a pivot zone then it has higher probability.


To be honest its best to either read this whole thread or a quicker opion is to join the private forum as there are videos...
Excellent video. Very helpful. Many thanks for posting the video link.
every Saint has a past. Every Sinner has a Future
  • #30,844
  • May 23, 2009 5:52pm May 23, 2009 5:52pm
Quoting james16
CHART
Hello james,

I am new to this forum but i have a question for you.What is the most effective way of trading the inside bar and the Bearsh bar? what is it that you look for when these bars or set-up are in place?
  • #30,845
  • May 23, 2009 6:19pm May 23, 2009 6:19pm
Quoting pdean123
I'm not getting back in but 347 pips since DBHLC with Negative Reversal earlier in the week. No hurry. It's Friday.
I am new to this forum and trying to understand your terms..........what idoes DBHLC means?
  • #30,846
  • May 23, 2009 8:56pm May 23, 2009 8:56pm
Quoting row
I am new to this forum and trying to understand your terms..........what idoes DBHLC means?
double bar high with a lower close on second bar

see this:

http://www.forexfactory.com/showpost...0&postcount=28
  • #30,847
  • May 23, 2009 9:13pm May 23, 2009 9:13pm
Quoting row
I am new to this forum and trying to understand your terms..........what idoes DBHLC means?
Although the thread can seem intimidatingly long, most of the answers you are looking for are in James' charts and posts in the first 50 or so pages. That should give you a good grounding and then if there's something not answered there people will always be willing to help you out here.

DBHLC is a double bar high lower close as someone else mentioned. Bearish bars are not typically used as triggers for trades, just an indication of a bearish move in the market, and inside bars are the trickiest of all to trade and best left until you really know your way around pin bars and Bullish and Bearish Outside Bars.
  • #30,848
  • May 23, 2009 9:24pm May 23, 2009 9:24pm
Quoting TiaForex
Although the thread can seem intimidatingly long, most of the answers you are looking for are in James' charts and posts in the first 50 or so pages. That should give you a good grounding and then if there's something not answered there people will always be willing to help you out here.

DBHLC is a double bar high lower close as someone else mentioned. Bearish bars are not typically used as triggers for trades, just an indication of a bearish move in the market, and inside bars are the trickiest of all to trade and best left until you really...
Thanks for the quick response guys i really appreciate it.................let me read the first 50 pages and see if i can find some examples of these bars.
  • #30,849
  • May 23, 2009 9:28pm May 23, 2009 9:28pm
Tia,
Could you elaborate in brief about bearish bar not tpically used as triggers? (thinking that must mean bullish DBLHC is more dependable?)
Thanks
john

Quoting TiaForex
Although the thread can seem intimidatingly long, most of the answers you are looking for are in James' charts and posts in the first 50 or so pages. That should give you a good grounding and then if there's something not answered there people will always be willing to help you out here.

DBHLC is a double bar high lower close as someone else mentioned. Bearish bars are not typically used as triggers for trades, just an indication of a bearish move in the market, and inside bars are the trickiest of all to trade and best left until you really...
  • #30,850
  • Edited 12:59am May 24, 2009 12:47am | Edited 12:59am
hi, i see a lot of new names posting recently. so i thought it might be a good time to post this doc again.for those who havnet yet read the thread this has been posted many times, among others, and is great for reference.the second was posted recently and may help with understanding the pinbars.

cheers
jon
Attached File(s)
File Type: pdf price action.pdf   45 KB | 1,246 downloads
File Type: doc Swing Highs and Lows - Understanding the Pin Bar.doc   94 KB | 2,210 downloads
PATIENCE... DISCIPLINE
  • #30,851
  • Edited 1:06am May 24, 2009 12:57am | Edited 1:06am
update..au/cad..no pin but the bar closed a BEOB and closed below the .87 round number and the 61.8 fib.
looks good to me??
jon
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 124 KB
PATIENCE... DISCIPLINE
  • #30,852
  • May 24, 2009 1:09am May 24, 2009 1:09am
Quoting derondevoux
Tia,
Could you elaborate in brief about bearish bar not tpically used as triggers? (thinking that must mean bullish DBLHC is more dependable?)
Thanks
john
In the first few pages of the thread James goes through the various bars. A bearish bar is listed there and is simply a bar that shows that price went down a lot during the bar (It's a bar with open and close at opposite ends of the bar). There are also bullish bars that show price going up. I didn't mean that bearish price action signals are better than bullish price action signals. Not at all. Have a look through the bar definitions in James' early thread charts and it's explained visually and more clearly.

What I meant was that the "bearish bar" and "bullish bar" are not signals to trade, whereas the bearish outside bar, bullish outside bar, bearish pinbar and bullish pinbar all are (when found at the right location and with confluence).

For anyone new coming in, I really really recommend reading as much of this thread as you can. Most of the basics are in the first hundred pages or so, and then after that there is tons of great information. I can say that of the best traders here, almost all of them have read the entire thread through, and many of them have read it through several times (albeit when it was smaller). As a small tip, although the seniors here are incredibly generous with their time, they will inevitably be much more helpful to you if they see you've put in some time studying the thread first.

Good luck. Hand on heart I can say that everything that you need to be a profitable trader is in this thread.
  • #30,853
  • May 24, 2009 1:50am May 24, 2009 1:50am
Hey gj, thanks for those documents. The PA one I've seen, but that swing trading one was a good read!

JR

Quoting g_j_hook@yah
hi, i see a lot of new names posting recently. so i thought it might be a good time to post this doc again.for those who havnet yet read the thread this has been posted many times, among others, and is great for reference.the second was posted recently and may help with understanding the pinbars.

cheers
jon
Be happy, be humble.
  • #30,854
  • May 24, 2009 4:08am May 24, 2009 4:08am
Hi everybody!
Sorry if this post shouldn't be posted here: if it's the case, just tell me to move it to the suitable place.
I am reading "Trading in the zone", by Mark Douglas, since I got a recomendation in this thread: I am really enjoying it, and realizing (once again) how important is to achieve a mental training before jumping to the arena.
My question is: I have a 13 years old son. As most of his age mates, he is really skilled in computers, net games, etc and, as he is excellent in studies, he's got free time to play.
I am thinking about starting to teach him a litle bit of trading this summer, of course under demo basis, because I am pretty sure his brain is now prepared to learn without fears and without the pressure of money, just like a game.
Of course I would try to enphasize the strict rules of good trading, just as this thread is doing with all of us.
Do you think it is a good idea? Or, is it too soon? Any personal experiences with sons (or daughters) related to trading?
Thanks!
Trading: the skill of avoiding trades
  • #30,855
  • May 24, 2009 4:26am May 24, 2009 4:26am
Quoting eswap0
Hi everybody!
Sorry if this post shouldn't be posted here: if it's the case, just tell me to move it to the suitable place.
I am reading "Trading in the zone", by Mark Douglas, since I got a recomendation in this thread: I am really enjoying it, and realizing (once again) how important is to achieve a mental training before jumping to the arena.
My question is: I have a 13 years old son. As most of his age mates, he is really skilled in computers, net games, etc and, as he is excellent in studies, he's got free time to play.
I am thinking about...
Well I am currently a 19 year old and have been trading since I was 17 and I wish I would of started younger. Its a great experience and it will be good for him to get the gredy emotions out at a young age. Good luck with it
  • #30,856
  • May 24, 2009 4:39am May 24, 2009 4:39am
Quoting eswap0
Do you think it is a good idea? Or, is it too soon? Any personal experiences with sons (or daughters) related to trading?
Thanks!
Just look at Williams' daughter Michelle.
Says a lot.
Bundy's status today: "Waiting..."
  • #30,857
  • May 24, 2009 4:49am May 24, 2009 4:49am
Quoting TiaForex
For anyone new coming in, I really really recommend reading as much of this thread as you can. Most of the basics are in the first hundred pages or so,

I can say that of the best traders here, almost all of them have read the entire thread through, and many of them have read it through several times

Good luck. Hand on heart I can say that everything that you need to be a profitable trader is in this thread.
I would like to stress the importance of these statements made by Tia. I'm now "almost" finished with reading this entire thread for the second time. When I'm done, I'll start my third time because you don't learn to hit home runs by swinging the bat once or twice. I'm a fairly quick study but on my second read through I've up picked points I missed and reinforced ones I didn't. I'm sure the third and fourth times through will prove to be no different.

Like many I'm sure, when I was first pointed to this thread (THANKS RANDY!!) roughly two months ago, the shear size of this thread made it a somewhat daunting thought to read. The "need" for me to be a profitable trader to insure my families survival cannot be understated so that was my personal motivation to get serious. You see, I have both an advantage and a disadvantage.

The disadvantage is, I became disabled November 07 after running my own construction business for 30 years since age 16. I've had no income since and I've been supporting my family of 5 (2 in collage and one heading there next year) off what I saved and I now have just enough left to start a very small account with. The advantage is, I've had the time to dedicate no less than 16 hours everyday (yes, 7 days a week), to reading this thread. You won't see many posts from me but you WILL see me logged in almost 24/7 and that's because I'm READING and learning.

I sincerely pray nobody finds themselves in my position and I completely understand that anyone working for a living can't devote that kind of time to reading this thread. When I worked, it was 16 hours a day 6 days a week so believe me, I understand. BUT, if you're serious about learning to trade successfully, PLEASE scrape together any and all free time you possibly can and study this thread completely! Everything you need to know is here. After spending 4500 bucks on a 3 month course designed to "teach me to trade", I can honestly and without ANY hesitation say that I've learned more in two weeks from reading this thread than that course could have ever taught me. And it's FREE!!

I'm a senior member in a woodcarving forum and as such, I'm one of the guys who helps teach new carvers to learn the trade. So I completely understand what it's like to repeatedly answer the same questions over and over again. The senior members here are quite frankly the salt of the Earth and their words are GOLD. PLEASE show them the respect they both deserve and have earned by starting at page 1 of this thread and seriously digging in to learn. If you come across a point you don't understand then by all means, ask a question and they will happily help out. This is why you won't see me post very often because the answers are already in the thread.

I sincerely hope I'll be able to repay James and the senior members of this thread by getting to a point where I can help others. With what I've learned here and a lot of time and practice, I'm sure at some point down the road, I will.

Going live this week guys. Wish me luck and a HUGE THANKS to all of you!!
Ghost Rider - WWTBMD?
  • #30,858
  • May 24, 2009 4:56am May 24, 2009 4:56am
Quoting g_j_hook@yah
update..au/cad..no pin but the bar closed a BEOB and closed below the .87 round number and the 61.8 fib.
looks good to me??
jon
A PB is not always the right side of the equation...?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Weekly Chart Before.JPG Size: 50 KB
Click to Enlarge Name: Weekly Chart after.JPG Size: 50 KB
  • #30,859
  • May 24, 2009 4:57am May 24, 2009 4:57am
Quoting albchr
Going live this week guys. Wish me luck and a HUGE THANKS to all of you!!
Everybody should read you last post if in doubt about going on with the reading of so many posts.
Your history touched me: I trully wish you best of lucks!
Trading: the skill of avoiding trades
  • #30,860
  • May 24, 2009 5:15am May 24, 2009 5:15am
Quoting albchr
I would like to stress the importance of these statements made by Tia. I'm now "almost" finished with reading this entire thread for the second time. When I'm done, I'll start my third time because you don't learn to hit home runs by swinging the bat once or twice. I'm a fairly quick study but on my second read through I've up picked points I missed and reinforced ones I didn't. I'm sure the third and fourth times through will prove to be no different.

Like many I'm sure, when I was first pointed to this thread (THANKS RANDY!!) roughly two...
Immense post,

On an off-topic note can I get a link to that woodcarving forum ? I love carving and have seen many beautiful pieces, and I would love to be able to create something like it, however my own feeble attempts have been pretty shocking lol

Regards,
Jig
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