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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

  • #33,461
  • Jun 16, 2009 1:30am Jun 16, 2009 1:30am
Au...

My exams keep ensuring I miss my trades...lol!
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I believe . . .
  • #33,462
  • Edited 2:03am Jun 16, 2009 1:30am | Edited 2:03am
Quoting ghous
I recall myself posting something like...

"My demo's been a great support in these stressful times for me"

It's a treat when you can take some time off something you don't enjoy doing to undertake something you love to do.

I can actually give my credits to the thread and my mt4 for a great exam session...one more exam to go and I am relaxed as hell.
Exactly the same feeling here after having back to back exams today and yesterday. Finally get to go home and look at some charts : ). I still got two to go though
  • #33,463
  • Jun 16, 2009 1:30am Jun 16, 2009 1:30am
Quote
It's a treat when you can take some time off something (exams? ) you don't enjoy doing to undertake something you love (trading? ) to do. ....

it seems your studies are interfering with your trading....
seriously, strive for the best grades. u know u can always trade demo/live anytime. u deserve to further your formal education too.

see u after the exams... good luck!
  • #33,464
  • Jun 16, 2009 1:38am Jun 16, 2009 1:38am
Quoting supremeChaos
it seems your studies are interfering with your trading....
seriously, strive for the best grades. u know u can always trade demo/live anytime. u deserve to further your formal education too.

see u after the exams... good luck!
You're literally pushing me out of this thread Chaos.



:cough: :cough:

:sniff:

I am outta here.

hehe...
I believe . . .
  • #33,465
  • Jun 16, 2009 1:39am Jun 16, 2009 1:39am
Quoting Tipers
Exactly the same feeling here after having back to back exams today and yesterday. Finally get to go home and look at some charts : ). I still not two to go though
Love your avator...

That man just cracks me up whenever I see him
I believe . . .
  • #33,466
  • Jun 16, 2009 2:36am Jun 16, 2009 2:36am
Quoting Tipers
Exactly the same feeling here after having back to back exams today and yesterday. Finally get to go home and look at some charts : ). I still got two to go though
enjoy that I finish my last one tomorrow then im FREE, till I have to go to work the next day to meet deadlines
Grabbing the bull by the horns!
  • #33,467
  • Jun 16, 2009 2:43am Jun 16, 2009 2:43am
Tipers, whitegoodman,
are we all near ghous' age? (as if)
good luck to your upcoming exams too...
  • #33,468
  • Jun 16, 2009 3:10am Jun 16, 2009 3:10am
does this count as a pin bar? The second last bar
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  • #33,469
  • Jun 16, 2009 3:24am Jun 16, 2009 3:24am
Quoting Autumm
does this count as a pin bar? The second last bar
Yes it does...

The next step is to weigh up the odds to see if it can be traded.
I believe . . .
  • #33,470
  • Jun 16, 2009 3:27am Jun 16, 2009 3:27am
Quoting ghous
Au...

My exams keep ensuring I miss my trades...lol!
1st target hit...next one marked...
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I believe . . .
  • #33,471
  • Jun 16, 2009 3:34am Jun 16, 2009 3:34am
Back on the train Chaos....hmmmm...there is no one here now!
  • #33,472
  • Jun 16, 2009 3:36am Jun 16, 2009 3:36am
Quote
Yes it does...
The next step is to weigh up the odds to see if it can be traded.
Autumm,
aside from the PPZs, confluences, etc, always be mindful of the bars/PA before the bar u are identifying. in your post, i'm talking about the HUGE bearish bar prior the PB which u identified. PBs do not always equate to a reversal: it may mean/show a temporary pause/consolidation which may be followed by the underlying trend (which currently is down; broke out downwards after a multi-day 97 - 99 range).

Also, note that your H4 candle (IBFX MT4) has approx 3.5 hours to go before it closes, so anything may happen.
  • #33,473
  • Jun 16, 2009 3:42am Jun 16, 2009 3:42am
Alexandra,
i believe Sir jarroo is still on the eurjpy Short train.
  • #33,474
  • Jun 16, 2009 3:44am Jun 16, 2009 3:44am
Quoting supremeChaos
Alexandra,
i believe Sir jarroo is still on the eurjpy train.

Is he?...I don't see him...LoL- thought he was still short. Maybe he is in the dining car using his profits?
  • #33,475
  • Jun 16, 2009 3:50am Jun 16, 2009 3:50am
yes, i meant short. are u still long eurjpy?
  • #33,476
  • Edited 4:06am Jun 16, 2009 3:53am | Edited 4:06am
Quoting supremeChaos
yes, i meant short. are u still long eurjpy?

Re-entered long.....need to take out 134 for a return to 135. Honestly, jarroo quoted a new "trend" lower, but I really saw it as stop running. On the other hand, one could argue yesterday for some odd risk adversion flow into JPY and USD that I don't fully understand. It's a fundamental debate, but technically the PA causes me to re-enter long at this point.

His view, I believe, is to await sufficient PA on the weekly or daily to mandate an exit his ongoing short taken off the weekly. My view is based on the support level of 133.50-131.50 relative to my bullish view, which for the moment has held.

Actually, that would be an excellent educational point. When viewing your daily or weekly for PA, Jarroo, at what point are you satisfied to the extent that you pull the trigger?
  • #33,477
  • Edited 4:14am Jun 16, 2009 4:00am | Edited 4:14am
Alexandra,
u both or whomever can take opposite trades & yet both of u can come out profitable. it all depends on how u trade the markets.

are u on demo or live?
we may reverse near the current price up to low 134's. if we can't take 134.50 - 135 real soon, renewed selling may kick in.

be sure to tread carefully....
Trade your plan, in short.


Quote
Actually, that would be an excellent educational point. When viewing your daily for PA, at what point are you satisfied?
I'm not sure i get what u mean, but i think the answer is:
every trader is unique. for exits, some may prefer to look at lower TFs , some may stick with the TF of trade entry , or just wait for the trail.stop to get hit.
  • #33,478
  • Edited 4:20am Jun 16, 2009 4:04am | Edited 4:20am
Quoting PippingMama
Hello Jarro,

I really hope you can do a demo video on this, like managing the G/U and E/J Trade. It will be really helpful.

I am in process try to minimize the loss even I am comfortable by selecting good PA at certain location.

Maybe you can show a video showing us the process of how you try to manage the GU and EJ trade.

I was in the GU trade today by but having draw down of 100 pips before going green for me, but I really don't feel comfortable with that when I see the big draw down.

I want to learn the skill from you on the trade...
A video would be fun, but as sChaos has posted these videos by James16 and Mike in the Guest section:http://www.james16group.us/Guests/guestmaterial.html are very good. (also in the PF, I'm a life time member)

I don't think I could come close to the great job these guys do.

Also, the James16 "This is Critical" plays an important role once a high quality PA setup is determined.

Managing a trade once your 1st target is hit is an individual thing. I tend to turn towards a more long term approach.
Indicators show the past. Price Action "Indicates" the future.
  • #33,479
  • Jun 16, 2009 4:10am Jun 16, 2009 4:10am
Quoting supremeChaos
Alexandra,
u both or whomever can take opposite trades & yet both of u can come out profitable. it all depends on how u trade the markets.

are u on demo or live?
we may reverse near the current price up to low 134's. if we can't take 134.50 - 135 real soon, renewed selling may kick in.

be sure to tread carefully....
Trade your plan, in short.
Sorry for the delay - obviously we have had a move ongoing the last few minutes, and 134 has been taken out rather easily. Actually this is a nice real-time look for the readers at the various inputs/thoughts. Jarroo, chime in here on how you handled this one off of the weekly/daily chart, and I think we can show people something here through the last series of posts. We've both made nice trades here, but in opposite directions, as Chaos mentions.

LOL - Yes, I am am live - I've been at this a while
  • #33,480
  • Jun 16, 2009 4:15am Jun 16, 2009 4:15am
Quoting ghous
I am not Jarroo but thought I needed myself to say this...

100 pips will never freak you out if it's within good MM criteria.

Jarroo does have a great edge over many others in that he can manage his trades exceptionally well, and it's good that you want to follow his trail,

However make sure you don't look at him as your savior from this so called "DRAW DOWN FEAR"

You must understand that the strategy does not count for risk/reward ratios and hence may point towards a certain degree of significant risk when...
Greats points in this ghous, very nice.

I'm always learning and improving on each and very trade I take. And so is every one else.
The difference between me and others is that I just been practising at this a little long then most. Once people put in the time, practise and find their own style that there comfortable with, they could easily pass me and I could be learning from them.

Concentrating on then A+ trade is the key to everything in my view, it makes every thing so much easier (i.e. managing , targets, etc.)
Indicators show the past. Price Action "Indicates" the future.
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