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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

  • #36,781
  • Jul 8, 2009 5:00pm Jul 8, 2009 5:00pm
Quoting jarroo
Not a surprise at all. I wonder if the big Oil guys follow this thread. If they do, its best to start with the 1st post and learn from there guys. lol

Just an Oil update. We are again not surprised. Higher time frame PA Rules.
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Indicators show the past. Price Action "Indicates" the future.
  • #36,782
  • Jul 8, 2009 5:06pm Jul 8, 2009 5:06pm
yes but but your life will surely be easier if you put J16 climate czar.

also remember that if you need to resign at any time due to stress and/or vile messages i will understand.

you probably wont want this gig for more than a week or two.

just dont get banned by doing anything crazy or at least not until i get back.

btw -

i considered a private jet charter for this trip but decided on my big ole suburban instead.

maybe i can split a charter with old al the next time he comes thru my area.

he doesnt come to texas very often.

no secret why.

ya'll have fun now and be good.





Quoting jarroo
AHhhh . . . that's better.
  • #36,783
  • Jul 8, 2009 5:11pm Jul 8, 2009 5:11pm
Quoting alifari
Hi,

I have been doing demo based on James16 system and have reasonable success and have finally decided to go live. I came across forex broker DeltaStocks and noticed they are currently offering 20% credit bonus on initial deposit. Can anyone advise of any past experience with this broker, since they are offering a pretty high credit bonus, I am a bit suspicious.

Moreover, Alpari is offering 10% credit bonus on initial deposit.

Would appreciate your comments on both these brokers.

Thanks,

Alifari
Careful well be aware I know with Alpari you have to trade at least 100 full lot size trades over a specific time frame, 1 month, 2 month's, it was 1 month for there birthday celebration in Dec 2009 when i went live with them, just check small print or don't rely on bonus.
  • #36,784
  • Jul 8, 2009 5:12pm Jul 8, 2009 5:12pm
Quoting james16
yes but but your life will surely be easier if you put J16 climate czar.

also remember that if you need to resign at any time due to stress and/or vile messages i will understand.

you probably wont want this gig for more than a week or two.

just dont get banned by doing anything crazy jarroo or at least not until i get back.

btw -

i considered a private jet charter for this trip but decided on my big ole suburban instead.

maybe i can split a charter with old al the next time he comes thru my area.

he doesnt come to texas very often....
I understand that some have a political view of climate, instead of a scientific view. I'll have fun with it, no doubt about it.
Indicators show the past. Price Action "Indicates" the future.
  • #36,785
  • Jul 8, 2009 5:13pm Jul 8, 2009 5:13pm
Quoting 1 Day ...
Careful well be aware I know with Alpari you have to trade at least 100 full lot size trades over a specific time frame, 1 month, 2 month's, it was 1 month for there birthday celebration in Dec 2008 when i went live with them, just check small print or don't rely on bonus.
sorry 2008 not 2009.
  • #36,786
  • Jul 8, 2009 5:16pm Jul 8, 2009 5:16pm
I've Got This PB, Any Comments ?

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #36,787
  • Jul 8, 2009 5:18pm Jul 8, 2009 5:18pm
Quoting Basber
I've Got This PB, Any Comments ?

Regards,
Basber
Hey Basber

I know some hate when I am so picky but hey that is me lol. Technically this isn't a pin b/c the close is under the previous bars low by a few pips. That is what makes me nervous about all these close to pins. There isn't a ton of confluence to get me excited that this wasn't just a pause before another fall(think falling knife). Now the size is pretty good but that one little aspect makes me nervous. If that left eye doesn't hold this thing could just keep tumbling.

Just my perspective though

Mike
  • #36,788
  • Jul 8, 2009 5:24pm Jul 8, 2009 5:24pm
When I see that huge movement. I wait for a A++++ bar. I've burnt in those pins .
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #36,789
  • Jul 8, 2009 5:26pm Jul 8, 2009 5:26pm
brokers are starting to remind me of poker sites now. that scares me a bit :o
  • #36,790
  • Jul 8, 2009 5:29pm Jul 8, 2009 5:29pm
Quoting mbqb11
Hey Basber

I know some hate when I am so picky but hey that is me lol. Technically this isn't a pin b/c the close is under the previous bars low by a few pips. That is what makes me nervous about all these close to pins. There isn't a ton of confluence to get me excited that this wasn't just a pause before another fall(think falling knife). Now the size is pretty good but that one little aspect makes me nervous. If that left eye doesn't hold this thing could just keep tumbling.

Just my perspective though

Mike
I Appreciate Your Perspective Mike ... I've Token This Trade Because Of The Size Of The Nose ... It's Rate To The Other Side Of The Candle , Is About 5. Anyway, I Waited For A Little Retrace (Because Of Asia Session) And I Will Trail I Closely ... Do You Suggest Any TP If It Goes North ? I Like 130.8x

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #36,791
  • Jul 8, 2009 5:32pm Jul 8, 2009 5:32pm
Quoting Basber
I Appreciate Your Perspective Mike ... I've Token This Trade Because Of The Size Of The Nose ... It's Rate To The Other Side Of The Candle , Is About 5. Anyway, I Waited For A Little Retrace (Because Of Asia Session) And I Will Trail I Closely ... Do You Suggest Any TP If It Goes North ? I Like 130.8x

Regards,
Basber
If it does get legs under it, just shy of 130 would be the first trouble area I would look into

Mike
  • #36,792
  • Jul 8, 2009 5:33pm Jul 8, 2009 5:33pm
Quoting ikki
When I see that huge movement. I wait for a A++++ bar. I've burnt in those pins .
Ikki my man!
  • #36,793
  • Jul 8, 2009 5:38pm Jul 8, 2009 5:38pm
Quoting SeekingLight
I just wanted to add to FXP that there's one thing always true:

Trading can be dirt simple, but for almost anyone(starting out) it is NEVER easy.

This isn't because the trading bit isn't possible(or possible to be easy); it's because people aren't easy.

I dare to say:
Trading requires many things as characteristics that are the exact opposite of the things that people lured to forex often possess.

I would even say that, for many, [u]if they did not have the characteristics initially that WILL MAKE YOU FAIL...
I am deeply touched and humbled by your words of wisdom Seek.. They really got me good, as I reminisce the phases I've been through and how silly I was and still am. One day I'll get there though, slowly but surely

Regards

Zen

PS: Do tell me when you find the light you're seeking for (not referring to a holy grail or system/method), because seeking light too, is my raison detre.
  • #36,794
  • Jul 8, 2009 5:43pm Jul 8, 2009 5:43pm
Quoting Basber
I've Got This PB, Any Comments ?

Regards,
Basber
Hey Basber check out the Gbp/Jpy 4 Hour PB. It looks better in structure, but as Mike has said about the supporting confluences on the Eur/Jpy, nothing really standing out on the confluence side. It has already broken, not very impressive, again maybe time of day. 150.00 would be a likely target.
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Indicators show the past. Price Action "Indicates" the future.
  • #36,795
  • Jul 8, 2009 5:45pm Jul 8, 2009 5:45pm
Quoting mbqb11
If it does get legs under it, just shy of 130 would be the first trouble area I would look into

Mike
Thanks For The Advice Will BE When Goes to +30, A Little Retrace Is Possible After Such A Move , And When Price Is Oversold, So It Gives Me Time To BE My Position, If It Goes Up, I'll Catch It , And If It Goes Down , It Will Be At Most A BE For Me. Anyway, Thanks For The Explanation For PBs. Learnt So Much From You , Specially From Your Videos
Wish You Anything You Want

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #36,796
  • Jul 8, 2009 5:48pm Jul 8, 2009 5:48pm
Quoting jarroo
Hey Basber check out the Gbp/Jpy 4 Hour PB. It looks better in structure, but as Mike has said about the supporting confluences on the Eur/Jpy, nothing really standing out on the confluence side. It has already broken, not very impressive, again maybe time of day. 150.00 would be a likely target.
Hi Jarroo,
I've Seen That, But Because Of The Bullish Trend In EUR/GBP, I Rather To Take The Eur ...

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #36,797
  • Edited 6:06pm Jul 8, 2009 5:55pm | Edited 6:06pm
Quoting mbqb11
Hey Basber

I know some hate when I am so picky but hey that is me lol. Technically this isn't a pin b/c the close is under the previous bars low by a few pips. That is what makes me nervous about all these close to pins. There isn't a ton of confluence to get me excited that this wasn't just a pause before another fall(think falling knife). Now the size is pretty good but that one little aspect makes me nervous. If that left eye doesn't hold this thing could just keep tumbling.

Just my perspective though

Mike
Hi Mike, i was just wondering if you could explain the importance of the left eye price/level. i often see price make that perfect right eye,i.e. the same price, but the price doent seem to hold any value appart from it being the left eye price?? hope this makes sense to you
cheers
jon
PATIENCE... DISCIPLINE
  • #36,798
  • Jul 8, 2009 6:05pm Jul 8, 2009 6:05pm
Quoting Basber
Hi Jarroo,
I've Seen That, But Because Of The Bullish Trend In EUR/GBP, I Rather To Take The Eur ...

Regards,
Basber
Hi Basber, the rise in the eu/gb may not reflect a strong euro, it could be just that the gb is weaker in comparison. also from what i read(not experience or tested fully yet) the eu/yen is more likely to mirror the gb/yen rather than the eu.gb. Since jan of this year the gb/yen has risen about 30% and the eu/yen about 20-25%in the same period.
just some food for thought
jon
PATIENCE... DISCIPLINE
  • #36,799
  • Jul 8, 2009 6:09pm Jul 8, 2009 6:09pm
Quoting dmc

Also I know you do not want to take a full loss on this trad ewhich is why you cut it short but since there weren't more confluent aspect of this trade it may not have that momentum that you wanted.

the bar break stop, whcih would still keep you in this trade with reduced risk. After the bar breaks put your stop behind the bar that breaks it, that way if it is not a momentum setup you will be stopped out with lower risk, because to be honest you dont want to be in a low momentum setup on the 4hr IMHO.
Well said dmc. It is my humble opinion as well.
Indicators show the past. Price Action "Indicates" the future.
  • #36,800
  • Jul 8, 2009 6:11pm Jul 8, 2009 6:11pm
Quoting g_j_hook@yah
Hi Mike, i was just wondering if you could explain the importance of the left eye price/level. i often see price make that perfect right eye,i.e. the same price, but the price doent seem to hold any value appart from it being the left eye price?? hope this makes sense to you
cheers
jon
Hey Jon

That is exactly the observation I was trying to share. Now granted this isn't every pin, but just in these types of falling down scenario with little to no confluence on the rebounding pin. Basically what happens is that floor being the left eye is so far up on the pin itself, so if that level can't hold there is really no support to prop it up very good. Your observation is basically the same as I was getting at. Now if this pin had a much higher close then it would have a stronger and different look. But when I see closes that just miss the body, or barely(and not within the body of the previous bar also), it is a heads up for me. I don't mess with these.

Mike
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