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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

  • #34,081
  • Jun 21, 2009 11:53am Jun 21, 2009 11:53am
Should of added that Thurs pin low is right between th 50 & 61.8 fib retrace of Fridays bar
  • #34,082
  • Jun 21, 2009 12:27pm Jun 21, 2009 12:27pm
Quoting StoragePro
Based on the chart in front of me (Is it really copper?? Your chart has little resemblance to mine) I see little reason for any trade based on PA out side of a blind bounce off of the 50% retrace. You can do this, but the risk is much higher than taking a trade based on price action. Your friend is rolling the dice and the odds are in favor of the house - no?
Hi!
Thanks StoragePro for your reply.
Our charts looked different because I was using a "several bars into one" chart.
Find attached my daily chart (same as yours) and a new 3 weeks chart: perhaps what I meant looks now clearer.
Thanks!
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Trading: the skill of avoiding trades
  • #34,083
  • Jun 21, 2009 1:23pm Jun 21, 2009 1:23pm
Quoting ghous
gotta be going for Pak/Sri 20 20 worldcup final...I get a feeling we're bringing the cup home...time will tell...

See you ppl in a while.

Regards,
Ghous.
Hey Ghous

Well done in the cricket. I am from South Africa so have been following the cricket closely. I picked Pakistan to win in a little competition.... they deserved it.

Leon
  • #34,084
  • Jun 21, 2009 1:30pm Jun 21, 2009 1:30pm
Sorry for this offline post

At this topic you follow a certain method ?
or any body can post his/her analysis for each pair that want ?

thanks alot
  • #34,085
  • Edited 7:01pm Jun 21, 2009 2:42pm | Edited 7:01pm
Quoting USDmakers
Sorry for this offline post

At this topic you follow a certain method ?
or any body can post his/her analysis for each pair that want ?

thanks alot
This is a price action related thread based on the material James16 teaches. It's outlined in the first 50 or so pages of the thread and in the free guest section of his private group www.james16group.us

The method allows for the following of many pairs and some commodities and even the occasional stock. It's characterised by a largely indicator free approach, relying on price action bars at key locations known as pivot zones. It's an almost purely technical approach so there is little discussion of fundamentals here.

If you're interested, read the first hundred or so pages of the thread and if it fits your style and personality, follow along on the daily posts.

Hope that helps.
  • #34,086
  • Jun 21, 2009 3:25pm Jun 21, 2009 3:25pm
Thanks Jarroo,

Your answers are the gold information to me. I will test it out more with your strategy and I am sure the R:R will be much better than taking the full bar stop.

Happy smile on me and I am look forward to test it out more in the coming week.

Thanks!









Quoting jarroo
What if the potential support or resistence requires a drawdown for over 30 pips, maybe 40 or 50 pips? Will you want to give it a try or you just cut the loss immediately no matter what? Again depending on the setup. On A+ trades I will take the initial pips offered on the 1st half and place my stop loss on the 2nd half at the top/bottom of that given setup.

[color=magenta]1. Base on your answer, do you mean you will kill 1st half of the position on the first stoploss point and still set the stoploss above or below the bottom...
  • #34,087
  • Jun 21, 2009 5:31pm Jun 21, 2009 5:31pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
seems the pa will make its setup near the gap area down there. but, i could be very wrong




Quoting StoragePro
Based on the chart in front of me (Is it really copper?? Your chart has little resemblance to mine) I see little reason for any trade based on PA out side of a blind bounce off of the 50% retrace. You can do this, but the risk is much higher than taking a trade based on price action. Your friend is rolling the dice and the odds are in favor of the house - no?
  • #34,088
  • Jun 21, 2009 6:45pm Jun 21, 2009 6:45pm
Quoting TiaForex
This is a price action related thread based on the material James16 teaches. It's outlined in the first 50 or so pages of the thread and in the free guest section of his private group www.jamesgroup.us
....
I believe the correct url is
http://www.james16group.us
skype: ststroud. let's talk trading.
  • #34,089
  • Jun 21, 2009 7:02pm Jun 21, 2009 7:02pm
Quoting tyler812
I believe the correct url is
http://www.james16group.us
Oops thanks Tyler. I've adjusted my post.
  • #34,090
  • Jun 21, 2009 8:47pm Jun 21, 2009 8:47pm
Going to watch how s/r holds up at tha 61 fib like to see it run up a bit then come back for a test and leave something nice on the 4hr b/4 getting involved.The 1hr came back to the pip
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  • #34,091
  • Jun 21, 2009 9:52pm Jun 21, 2009 9:52pm
Quoting ljr
Hey Ghous

Well done in the cricket. I am from South Africa so have been following the cricket closely. I picked Pakistan to win in a little competition.... they deserved it.

Leon
Hey Leon,

There were a quite a few teams that really did deserve it, you guys were one of them...but yeah Pak has been extraordinary in the field for some strange reason...

Amongst all that has happened in the country and all that is happening in the country along with dead cricket this was a true gift, maybe this is where we really deserved it. It was all over the news yesterday ppl had gone berserk in celebration and it was great (to say the least) to have been privileged to except such an unexpected yet beautiful gift.

Cheers.

Ghous.
I believe . . .
  • #34,092
  • Jun 21, 2009 10:49pm Jun 21, 2009 10:49pm
.com works also.

always has. ive just never mentioned it.



Quoting TiaForex
Oops thanks Tyler. I've adjusted my post.
  • #34,093
  • Jun 21, 2009 11:03pm Jun 21, 2009 11:03pm
Quoting 4fun
Going to watch how s/r holds up at tha 61 fib like to see it run up a bit then come back for a test and leave something nice on the 4hr b/4 getting involved.The 1hr came back to the pip
That sure is a nice resistance level that may just have bee broken, like most of us I am waiting for the trigger too.
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I believe . . .
  • #34,094
  • Jun 21, 2009 11:08pm Jun 21, 2009 11:08pm
Quoting PippingMama
Thanks Jarroo,

Your answers are the gold information to me. I will test it out more with your strategy and I am sure the R:R will be much better than taking the full bar stop.

Happy smile on me and I am look forward to test it out more in the coming week.

Thanks!
Glad I could help PipingM.

The key here is the quality of the setup. A high time frame A+ PA setup, meaning in form, size, location, many supporting confluences with common sense targets can make for an easy trade no matter how its managed.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #34,095
  • Jun 21, 2009 11:10pm Jun 21, 2009 11:10pm
Quoting 4fun
Last weeks bar is bearish, trend is down I didnt take Thursdays pin but was looking at this and if it gets a bounce off Wednesdays low if it gets there look at how its hung up at some 4hr support a retest of thurs pin low at 38.2 fib has nice 4hr resistance and a chance to get short with trend.
Agreed,

but looking at the pin it did exactly what it was supposed to do, hoping for it do the same again might be a little too much to ask. Ofcoarse a trade could aim at the 4H resistance you talked abt in which case it should be treated like a 4H supp/res trade. IT WILL NOT BE THE DAILY PIN BAR TRADE.

Regards,
Ghous.
I believe . . .
  • #34,096
  • Jun 21, 2009 11:17pm Jun 21, 2009 11:17pm
Quoting uncle gromit
Hi all,

My 1st post here.
I have followed this thread for some time.
Since its creation by Jim, and with the regular contributions from Jarro, Mike, Ghous etc, it has become a gold mine of quality PA analysis.
So much good stuff never felt the need nor inclination to contribute.
That said, just thought I'd post a poss setup, since we are at a critical stage on USD/JPY.
Potential change in trend with a nice short entry in the making.
PB now with Thursdays IB.
Big round number, 50% ret, supp and res level. Rejection from 150EMA.
Also in my consideration...
Hi Unlce Gormit,

Welcome on board and congrats on your first post.

We seriously want more posters like you. You seem to be a great observer in that your analysis is sound. I am not into waves as such (not to say they don't work of coarse) but I agree Uj is cooking something...let the PA work like your nose...We'll be picking up the scent of what's on the stove before it is served
I believe . . .
  • #34,097
  • Edited 11:35pm Jun 21, 2009 11:21pm | Edited 11:35pm
Déjà vu, all over again? Weekly I4B on the Gbp/Usd. (i.e I10+B on the Weekly Eur/Jpy, Usd/Jpy from a week ago.)


Charts: Weekly I4B on the Gbp/Usd with some interesting confluenced areas. Daily showing some divergence on MACD.
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Indicators show the past. Price Action "Indicates" the future.
  • #34,098
  • Jun 21, 2009 11:54pm Jun 21, 2009 11:54pm
Quoting ghous
Hi Unlce Gormit,

Welcome on board and congrats on your first post.

We seriously want more posters like you. You seem to be a great observer in that your analysis is sound. I am not into waves as such (not to say they don't work of coarse) but I agree Uj is cooking something...let the PA work like your nose...We'll be picking up the scent of what's on the stove before it is served
Uj.
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I believe . . .
  • #34,099
  • Jun 22, 2009 12:35am Jun 22, 2009 12:35am
CHART
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  • #34,100
  • Jun 22, 2009 12:56am Jun 22, 2009 12:56am
EURGBP Friday's Hard Break trade, now a free trade, half profit already taken.
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