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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

  • #31,541
  • May 29, 2009 3:03pm May 29, 2009 3:03pm
Quote
hey , i took this but as i closed half for +30pips , i set my other half to -30pips , took a nap....got stopped out, so all in all, made nothing & lost nothing as well.....

squeezy,
Think positive about it..... u earned one way, & u learned the other way.
Also remember, we'll get a lot of BE trades with j16 (if we often put stops to BE, instead of BE + x pips), & that BE is better than a loss..
  • #31,542
  • May 29, 2009 3:09pm May 29, 2009 3:09pm
Quoting Forex007
Josh, did you mean that price never went (against you) more than 50% of your SL? Drawdown refers to your capital (trading a/c).

Interesting thoughts, please keep more coming Have a great weekend!
Yes sorry for confusion.
  • #31,543
  • May 29, 2009 3:46pm May 29, 2009 3:46pm
Quoting supremeChaos
squeezy,
Think positive about it..... u earned one way, & u learned the other way.
Also remember, we'll get a lot of BE trades with j16 (if we often put stops to BE, instead of BE + x pips), & that BE is better than a loss..
yeah! thinking +ve man
i didnt loose anything on dat trade so im not dat bothered, wit the way im trading , i feel as soon as i can close my pp, i can walk away either setting my stop to be or -ve the no of pips i closed on my pp, dat way i dont walk away wit a loss...
dats how ive been trading on demo for a while and ive been happy wit my results so far, currently in eurusd & audusd long, locked in profit in both so i can walk away knowing hey, i cant come out wit a loss....never
anyways thnx for ur comments, as i mentioned in an earlier post " ur posts r usually catchy wit all the colors n smiles"
hav a lovely weekend mate
Simplicity is the key to success
  • #31,544
  • May 29, 2009 3:58pm May 29, 2009 3:58pm
Quoting Shermenator
Here is a setup that is very high probabilty in my book if we get the good close.....

If you take a look at the usdjpy this pair has broken out of the wedge earlier this month and has turned into a decending triangle. Also take a look at how each time we bounce of the 93.80 area we are bouncing less as well as more sell stops are being build below 2 months ago's low. I will most likely will be looking to ride this puppy down ....

Attachment
I took around 100 pips on the usd/jpy on the same analyses and it gave nice signal on the H4 chart and in my opinion next week of the break of the low of this week it could more down

and we can get a very nice trade there
The million dollar man Alkhatarey
  • #31,545
  • May 29, 2009 4:05pm May 29, 2009 4:05pm
Hi,
I also noticed USDJPY d2 hammer. I am posting picture so everyone can seeand discus.
When I look at its shape, possition and at gold chart , I would be realy surprised if this one fails. But lets see.
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  • #31,546
  • May 29, 2009 4:05pm May 29, 2009 4:05pm
Quoting KissFan
I know that this is "old news" but I wanted to follow up on the possible trade opportunity on GBPUSD from a couple of days back & post a chart. First let me say that I couldn't agree more with Mike that this was an "iffy" pin bar. Now that the trade has played out, I wanted to note a few observations.

I hope this helps someone gain some additional perspective. Have a good weekend.

K.I.S.S.
It's definitely helped me.
The whole issue of trading price reversals and always being counter-trend has been on my mind recently, and this point about the PB nose length is critical.
At least it is now that I'm beginning to grasp WHY you need a long nose!
Thanks for this.
  • #31,547
  • Edited 7:47pm May 29, 2009 4:20pm | Edited 7:47pm
i think the next week we can get a very nice moves in these pairs

GBP/CHF "Has probapility for long " made Dodji on the 150 ema daily chart and good ppz

USD/JPY "Short " Tested triangle and IB on the test and under the 150 ema daily chart

AUD/JPY "Short" Under 61 fib , Under the 365 Ema on the daily chart made kind of PB


CHF/JPY "Short " very good Resistance , good ppz 50% fib

GBP/JPY "short for medium term" until 151.50 now its 135.90 around 250 pips target not bad for the next PPZ support

USD/CHF is on a trend line now we have to see if will break it or retrace from there looking for pattern

Tell me What do you think guys ?

and i think most of the jpy pairs following the usd/jpy , except the euro/jpy

tell me what do you think guys about these opportunities?


see you guys next week
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The million dollar man Alkhatarey
  • #31,548
  • May 29, 2009 5:27pm May 29, 2009 5:27pm
Quoting KissFan
I know that this is "old news" but I wanted to follow up on the possible trade opportunity on GBPUSD
KISS Fan, Thanks for your inquest into that trading opportunity, your comments have helped me understand the difference between a possible trade and a good A grade trade.

I took this trade as a short term play , wished I could have got out for a quick profit but was away from the PC, so let it run and ended up with a loss.

A less than A grade entry +Lack of sound planning = loss.
(All on demo, but nevertheless....)
If you can wait and not be tired by waiting...
  • #31,549
  • May 29, 2009 6:05pm May 29, 2009 6:05pm
Quoting KissFan
I know that this is "old news" but I wanted to follow up on the possible trade opportunity on GBPUSD from a couple of days back & post a chart. First let me say that I couldn't agree more with Mike that this was an "iffy" pin bar. Now that the trade has played out, I wanted to note a few observations.

1. I have been here before.-------Do I take this trade or not? I have taken this type of bar as a trade and made a profit more times than not. The thing that I didn't like about being in this sort of trade is that by the time it breaks...
This a great post. This is the type of approach I should have taken with that CAD/Yen pin.
"Don't trade to trade . . . trade to win." - James16
  • #31,550
  • May 29, 2009 6:24pm May 29, 2009 6:24pm
Quoting adam777
Re: AUDCAD Weekly Beob: 1st lot= 24pips banked 9:14am 22/05; 2nd lot= still open.

I'm guilty of dropping down to the 4h looking @ resistance as well.
Dropping down from, say, the Daily to the 8 hour or 4 hour is not so bad when looking for short term targets. But from the Weekly to the 4 hour is a big difference.

For an extreme example, say you took a high quality Bearish PB on the Daily and you see a Bullish A+ PB on the 15 min, would that cause you to exit the trade? No, even if it broke hard and ran because that 15 min Bullish PB may have a short life and then continue back down with the Bearish Daily PB.

Let me know if I'm making sense. lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #31,551
  • May 29, 2009 7:58pm May 29, 2009 7:58pm
Quoting jarroo
Dropping down from, say, the Daily to the 8 hour or 4 hour is not so bad when looking for short term targets. But from the Weekly to the 4 hour is a big difference.

For an extreme example, say you took a high quality Bearish PB on the Daily and you see a Bullish A+ PB on the 15 min, would that cause you to exit the trade? No, even if it broke hard and ran because that 15 min Bullish PB may have a short life and then continue back down with the Bearish Daily PB.

Let me know if I'm making sense. lol

Jim
Hey jim

in my Experiance you have do this :

If you found a pb on the daily chart bullish for example you can enter a better price on the 15 mins chart for exmple could be on the daily chart a bullish pin bar but on the second day the price will go first more down trying to break the last support so from the samller time frames like the 4 hours chart in this setuation you could know if the price will retrace a little bit or go with the way OFthe pin bar , but you cant close your trade because you found a pin bar on the 15 mins chart , it could be just correction for the last trend on the 15 mins

STICK WITH THE BIGER TIME FRAMES AND GET BETTER PRICE ON THE SMALLER TIME FRAMES ALWAYS THE BIGER TIME FRAMES WILL BE THE WINNING TRADES SO TRADE THE 15 MINS CHART ON THERE WAY

HOPE THIS HELPS DUDE
The million dollar man Alkhatarey
  • #31,552
  • May 29, 2009 8:27pm May 29, 2009 8:27pm
Quote
sChaos, you have many posts which can be very (how do you say?) . . animated . . at times.
No disrespect, friend, I don't see many charts from you. This is a Chart Thread after all. Maybe you can show that trade you had yesterday. Was it Price Action related?Just curious
jarroo,
u seem to be (have been) online. Sorry for the late reply for the above post (Thursday), Sir.
had only 3-4hours of sleep during that time. i just had 3-4hours of sleep earlier too (woke up 7am Manila time). it seems that i've got mbqb11's vitality.

anyway, the gbp$ long trade (live) was PA-related, but the stop/money management employed is of a restrained nature (due to account size) so u could say that my stop was not PA-based. so i refrained from posting it here (as much as possible i try to post charts that are purely j16).

It was a breakout trade with an unfortunately tight stop (25 pips, if i remember) so i did not pan out very well. sometimes or often, tight stops kill a promising trade --- then again, it depends on a trade.

anyway, here is the chart, with the live long trade (within the bar with a white check mark) & a j16 trade.
& thanks for the curiosity.
Attached Image (click to enlarge)
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  • #31,553
  • May 29, 2009 8:34pm May 29, 2009 8:34pm
Quoting alkhatarey
Hey jim
in my Experiance...
Greetings alkhatarey ,
i'm pretty sure jarroo was not asking a question. he was mainly telling u something.

Cheers
  • #31,554
  • Edited 9:07pm May 29, 2009 8:46pm | Edited 9:07pm
Quoting alkhatarey
Hey jim

in my Experiance you have do this :

If you found a pb on the daily chart bullish for example you can enter a better price on the 15 mins chart for exmple could be on the daily chart a bullish pin bar but on the second day the price will go first more down trying to break the last support so from the samller time frames like the 4 hours chart in this setuation you could know if the price will retrace a little bit or go with the way OFthe pin bar , but you cant close your trade because you found a pin bar on the 15 mins chart , it could...
Yes, this is a good approach as well if I understand you correctly. Lower time frame opposite Price Action indicating a retrace. Or Bullish PB forms and then retraces. Look for Bullish PA on lower time frames on the retrace. The NuckingFuts approach.
Indicators show the past. Price Action "Indicates" the future.
  • #31,555
  • May 29, 2009 8:47pm May 29, 2009 8:47pm
Quoting g_j_hook@yah
WHOOHOOOOOOO!!%#$@
oanda has a trailing stop!!!! YEEESSSSSS!!!!
about bloody time!
just a note to those looking to short the gb/chf...this is just my observation but a strong gb usually will hold the gb/chf up a bit.
jon
cool. probably will check oanda out within this year.
  • #31,556
  • May 29, 2009 8:48pm May 29, 2009 8:48pm
Quoting aLLerGic
Hi all,
I just want to share my trading result since using James16 Method. It's a small account, but Im very happy of it. No indicator involved in this trading mission. LOL
aLLerGic of Studying
Congratulations aLLerGic!

seems your "studying allergy" is decreasing by the day, & eventually u will be freem from it. keep it up!
  • #31,557
  • May 29, 2009 8:50pm May 29, 2009 8:50pm
Quote
The NuckingFuts approach.

coined by jarroo
  • #31,558
  • May 29, 2009 8:54pm May 29, 2009 8:54pm
Quoting jarroo
Hey junior. Your exams may be ending but your studying will never end.

See you soon,

Jim
....

Talk abt trading education and I'll embrace it with open arms....

These are strangling me.

As I walked through the thread yesterday the stress drained away pretty nicely, it was a real good feeling.

Thanks for the heads up guys,

Regards,
Ghous.
I believe . . .
  • #31,559
  • May 29, 2009 8:57pm May 29, 2009 8:57pm
Quoting supremeChaos
jarroo,
u seem to be (have been) online. Sorry for the late reply for the above post (Thursday), Sir.
had only 3-4hours of sleep during that time. i just had 3-4hours of sleep earlier too (woke up 7am Manila time). it seems that i've got mbqb11's vitality.

anyway, the gbp$ long trade (live) was PA-related, but the stop/money management employed is of a restrained nature (due to account size) so u could say that my stop was not PA-based. so i refrained...
Nice Chart sChaos. I would like to see more of them then funny faces.

They don't have to pure J16 setup, just relate in some way. Also remember, waiting for the break on all PA setups-Confirms the setup. If the is no break, there is no valid setup.

Thanks sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #31,560
  • May 29, 2009 9:05pm May 29, 2009 9:05pm
Quoting supremeChaos
coined by jarroo
lol. He is a member of the forum.
Indicators show the past. Price Action "Indicates" the future.
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