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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

  • #35,881
  • Jul 2, 2009 10:24am Jul 2, 2009 10:24am
Quoting Angel65
Hello Bob, Ryan, Ghous,

Very very interesting subject..................

Following the famous adage stating 'trend is your friend" :

1) how else could we define what a trend really is ?
2) By using a moving average, trend lines, oscilators...etc.....?
3) On which time frame if you trade the 4 hours for example ?

Thanks for your attention,

Happy trading,

Cheers

Angel
With your eyes. Use the eyes in the front of your head. Trends move in macro and micro levels. Longterm weekly trends may be up, but on a four hour down.

Which part of the river do you want to swim in? The big long term flow, or the eddies and swirls? It is up to you to figure out what will work out for you. Swim where you do well.
I'm pretty much done with all this ...
  • #35,882
  • Jul 2, 2009 10:28am Jul 2, 2009 10:28am
Thanks for your quick replies guys, it's very kind of you !!!

Personaly, I use the old 200 and 50 EMA on daily TF.

Cheers,

Angel
  • #35,883
  • Jul 2, 2009 10:29am Jul 2, 2009 10:29am
There you go, there's a lot of info on this chart, suck it up. You can succeed trading this way, it's piss easy.

Edit: There's even a trade I missed, can you spot it?
Attached Image (click to enlarge)
Click to Enlarge Name: euro 60 min.gif Size: 20 KB
Private Ryan is saved.
  • #35,884
  • Jul 2, 2009 10:30am Jul 2, 2009 10:30am
Quoting verno
Thanks Jaroo and ghous, I think the above was the statement I was looking for.

On the attached is the bearish OB still valid in the 2nd box? If not what has invalidated it:

a) the move downwards to 1.58 region (and if so at what point does this move invalidate it)?

b) the retracement is nearly a full retracement meaning lower probability of success

The BEOB (in blue) fullfilled itself perfectly and countered the move with a bullish PB. An ideal stiuation to go long with the trend. The green box had nothing to with the BEOB directly, in terms of retracement.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #35,885
  • Jul 2, 2009 10:38am Jul 2, 2009 10:38am
Quoting jarroo
The BEOB (in blue) fullfilled itself perfectly and countered the move with a bullish PB. An ideal stiuation to go long with the trend. The green box had nothing to with the BEOB directly, in terms of retracement.
Thanks Jaroo and ghous I appreciate the explanation. I think I am clear now.
  • #35,886
  • Jul 2, 2009 10:41am Jul 2, 2009 10:41am
Bonjour Bobability,

Thanks very much, I appreciate..............

Hats off to you...

I wish you the best...

Regards

Angel
  • #35,887
  • Jul 2, 2009 10:41am Jul 2, 2009 10:41am
Trade the swing extreme Pinbars if you wish, I will wait 'till they are confirmed first then trade the WT bars, it's less risk and easier, no crappy indicators or voodoo explanations, it is as you see it. I'm willing to share this info for free, you will make money on this everyday. See your profits build.
Private Ryan is saved.
  • #35,888
  • Jul 2, 2009 10:41am Jul 2, 2009 10:41am
Quoting bobability
There you go, there's a lot of info on this chart, suck it up. You can succeed trading this way, it's piss easy.

Edit: There's even a trade I missed, can you spot it?
So you basically trade PA bars with the trend on lower time frames?
I believe . . .
  • #35,889
  • Jul 2, 2009 10:43am Jul 2, 2009 10:43am
Quoting bobability
Trade the swing extreme Pinbars if you wish, I will wait 'till they are confirmed first then trade the WT bars, it's less risk and easier, no crappy indicators or voodoo explanations, it is as you see it. I'm willing to share this info for free, you will make money on this everyday. See your profits build.
Does look like a good way to trade the J16 stuff on the lower time frames. Thanks Bob, that was constructive.
I believe . . .
  • #35,890
  • Jul 2, 2009 10:43am Jul 2, 2009 10:43am
Quoting bobability
Trade the swing extreme Pinbars if you wish, I will wait 'till they are confirmed first then trade the WT bars, it's less risk and easier, no crappy indicators or voodoo explanations, it is as you see it. I'm willing to share this info for free, you will make money on this everyday. See your profits build.
Some very good info here folks for short term traders Take your notes... .
I can identify with it. It's simple, yet very effective.

Quoting bobability
There you go, there's a lot of info on this chart, suck it up. You can succeed trading this way, it's piss easy.

Edit: There's even a trade I missed, can you spot it?
.
Attached Image (click to enlarge)
Click to Enlarge Name: bobs.jpg Size: 81 KB
  • #35,891
  • Jul 2, 2009 10:47am Jul 2, 2009 10:47am
Quoting raczekfx
Some very good info here folks for short term traders Take your notes... .
I can identify with it. It's simple, yet very effective.


.

Yup, knew you would get it.
Private Ryan is saved.
  • #35,892
  • Jul 2, 2009 10:47am Jul 2, 2009 10:47am
Quoting raczekfx
.
and
Attached Image (click to enlarge)
Click to Enlarge Name: bob.GIF Size: 48 KB
  • #35,893
  • Jul 2, 2009 10:49am Jul 2, 2009 10:49am
Quoting bobability
Yup, knew you would get it.
Do you enter on the break of the PB or at the close of the PB?
Indicators show the past. Price Action "Indicates" the future.
  • #35,894
  • Jul 2, 2009 10:51am Jul 2, 2009 10:51am
Quoting bobability
Yup, knew you would get it.

Bob same stuff I did with the 5min and PB's

http://www.forexfactory.com/showthread.php?t=163972

Download the Ryanmcd.doc and read it LOL.
Keep taking CT trades, I need more money
  • #35,895
  • Jul 2, 2009 10:53am Jul 2, 2009 10:53am
Quoting jarroo
Do you enter on the break of the PB or at the close of the PB?

Break, then its confirmed.
Private Ryan is saved.
  • #35,896
  • Jul 2, 2009 10:56am Jul 2, 2009 10:56am
Quoting Ryanmcd
Bob same stuff I did with the 5min and PB's

http://www.forexfactory.com/showthread.php?t=163972

Download the Ryanmcd.doc and read it LOL.

If I understand your method you traded on the close of the pinbar, I wait for confirmation, it's less risk, there are numourous other rev candles/bars than I use also, pinbars are just one of them. Great minds think alike, what you doing pissing around with dailies and 5 mins when you can trade 60 mins with less stress?
Private Ryan is saved.
  • #35,897
  • Jul 2, 2009 10:59am Jul 2, 2009 10:59am
Quoting bobability
If I understand your method you traded on the close of the pinbar, I wait for confirmation, it's less risk, there are numourous other rev candles/bars than I use also, pinbars are just one of them. Great minds think alike, what you doing pissing around with dailies and 5 mins when you can trade 60 mins with less stress?

Hey man that's why I am moving up out of it as you see by my posts. 3min 5min was the only shit I knew, lucky me I stared with the hardest 1st, now when I see people not "Getting it" I am think WTF they have it easy, If you need anything let me know man. Also thanks for not just bashing this time, some good people on here, some retards also though
Keep taking CT trades, I need more money
  • #35,898
  • Jul 2, 2009 11:00am Jul 2, 2009 11:00am
Not something I'm very clear with but is this a possible 8H PB rejection from the 0.8600 level ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurogbp.gif Size: 17 KB
Never underestimate an idiot.
  • #35,899
  • Jul 2, 2009 11:01am Jul 2, 2009 11:01am
Quoting bobability
Trade the swing extreme Pinbars if you wish, I will wait 'till they are confirmed first then trade the WT bars, it's less risk and easier, no crappy indicators or voodoo explanations, it is as you see it. I'm willing to share this info for free, you will make money on this everyday. See your profits build.
Hey Bob welcome to the thread number 2 the civil way we like

Just to clarify here. No one disagrees about lower timeframes. James simply is trying to help every new trader that comes into trading and starts off there to get slaughtered. The daily/weekly help develop the habits to trade the lower timeframes. You can make profit on all timeframes there is no doubt about that, and all different ways.

It's all about taking the proper steps to insure you don't have to lose an arm and a leg to the market while learning. Personally the daily/weekly make up about 25% of my total trades for the month on avg. But when I see new traders trying to trade every pinbar(with or against the trend) on the hourly it shows me that their mentally not ready. Most start at the lower timeframes and just continue to beat themselves up until they quit. It doesn't even give them a chance to learn what it is like to be profitable or close to profitable and hang around past that part of the learning curve. The allure of forex riches and all that other BS that almost every single one of us had coming into it needs to be taken out to think logical and treat it like a business. That is what putting it through the page 1 process James speaks about. For any an all timeframes.

Oh and yes you are quite right, pips mean nothing. That has been debated to death on FF

Welcome to the thread Bob and happy trading

Mike
  • #35,900
  • Jul 2, 2009 11:03am Jul 2, 2009 11:03am
Quoting bobability
If I understand your method you traded on the close of the pinbar, I wait for confirmation, it's less risk, there are numourous other rev candles/bars than I use also, pinbars are just one of them. Great minds think alike, what you doing pissing around with dailies and 5 mins when you can trade 60 mins with less stress?

hi there,
I find your approach very intuitive and easily digestible. I have two questions though if you dont mind.

1. When looking at a possible entry do you also use volume in conjunction with what you already see on the chart to strengthen your conviction to enter the trade ?

2. As far as profit taking goes, I am 99% sure that you take partial profits along the way, but how would you determine that the current H1/H4 trend is begging to abate? Would you go to lesser time frames ?

Thank you in advance !
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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