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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

  • #36,861
  • Jul 9, 2009 5:19am Jul 9, 2009 5:19am
Quoting Interceptor
Keeping an eye on this on the hourly.
A break down through 0.8615 may be worth consideration.
I had an order in this, but have since pulled it as we approach BOE. I'm thinking there will be some reaction to BOE, in either/both directions, which may have both triggered and stopped me out.

I haven't fully decided what I should be doing on days when a reserve bank system is making an announcement. Thus far, I've been placing daily trades normally, but if they aren't filled within a few hours of the announcement, I then cancel it...

Basically, I don't want to get filled based on the reaction... I want to get filled because of PA.

Again, still learning... Josh
  • #36,862
  • Jul 9, 2009 5:46am Jul 9, 2009 5:46am
Quoting jarroo
Hey Mike. What does Price tell you when it smashes through a Big Round Number with S/R support. Like the Gbp/Jpy 150.00?

Price cut through that 150.00 like butter, without hesitation.

Tells me we are in for a big fall.
Good day to all J16 gang member.

It is a real pleasure making my first post to this great thread. The reason this is so is because, although I was on the prowl from as far back as last year, most of my question got answered while going through the long post.

I would like to ask about clean break. Because I don't have the time to check the chart all day, I will probable check in the morning or end of day.
How can I tell if a bar or candle stick has make a clean break of an area. You see what I am trying to say is that when you look at the chart it will break and then retrace quickly, but because you were not around you would not know if "yes' this has broken cleanly as Jarroo as so countless times talk about.

I hope the question was clear.

Thanks to all, both old and new members, You are all an inspiration to some one who is trying to get it right one day
  • #36,863
  • Jul 9, 2009 5:59am Jul 9, 2009 5:59am
Quoting Borrob
Good day to all J16 gang member.

It is a real pleasure making my first post to this great thread. The reason this is so is because, although I was on the prowl from as far back as last year, most of my question got answered while going through the long post.

I would like to ask about clean break. Because I don't have the time to check the chart all day, I will probable check in the morning or end of day.
How can I tell if a bar or candle stick has make a clean break of an area. You see what I am trying to say is that when you look at the chart...
In your case, I think looking at a much lower timeframe will tell you how well it broke the PA. For example, you are looking to enter a pinbar 10 pips below a daily pin. So you put a line on your chart there. Then you look down at a 5 or 15 minute timeframe and find where it first crossed that line, thus electing/filling your order. Then you can look how the subsequent bars traded. Maybe they continued to run through the line 50 pips. But maybe they went through it by 10 pips and came right back...

Hope this answers your question. If not, please clarify.

Josh
  • #36,864
  • Jul 9, 2009 6:00am Jul 9, 2009 6:00am
Quoting Borrob
Good day to all J16 gang member.

It is a real pleasure making my first post to this great thread. The reason this is so is because, although I was on the prowl from as far back as last year, most of my question got answered while going through the long post.

I would like to ask about clean break. Because I don't have the time to check the chart all day, I will probable check in the morning or end of day.
How can I tell if a bar or candle stick has make a clean break of an area. You see what I am trying to say is that when you look at the chart...
If I understand correctly what you are asking just go down to say the hourly or 30min chart and you will be able to see how hard/fast/cleanly the break was. Basically the lower timeframes will show you how the Daily bar was made up.
  • #36,865
  • Jul 9, 2009 6:20am Jul 9, 2009 6:20am
Quoting Jduester
I had an order in this, but have since pulled it as we approach BOE....
Interesting points, but can you in fact have it 'both' ways?
By this I mean that, if the philosophy re "The News" is that you just ignore it, then said philosophy must surely be of universal application? Eg, you cannot cherry pick which news items/events are tradeable(and this incorporates the negative, ie deliberately NOT trading when news announcements are expected). If you deliberately choose not to trade around an expected news event, then you are in essence trading the news.
PA is all PA, whether it's a violent reaction to Trichet placing his foot in his mouth(again!), or an absence of market direction due to an absence of market shifting 'news' sentiment.
It's worth remembering that all of the chart patterns which you see and trade are, in part, there as a direct result of news flow.
The 'grail' for me is to see the same picture which the big money sees.
If the big money pays due respect to news flow, then hey, who are we to argue?
Just my tuppence worth. Cheers.
  • #36,866
  • Jul 9, 2009 6:25am Jul 9, 2009 6:25am
Quoting Interceptor
Keeping an eye on this on the hourly.
A break down through 0.8615 may be worth consideration.
I didn't even notice this had triggered as I was writing the above response to Josh.
Would prefer to exit sooner rather than later, but that's a monkey of a retrace!
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  • #36,867
  • Jul 9, 2009 6:25am Jul 9, 2009 6:25am
Quoting Interceptor
Keeping an eye on this on the hourly.
A break down through 0.8615 may be worth consideration.
I had an order in at 8625 which is just below the IB on my 4H chart. This has triggered now and it ran down to around 8585 as the BOE announcement came through.

I don't usually worry too much about the news but I have moved my stop to BE incase this reverse up quickly.
  • #36,868
  • Jul 9, 2009 6:27am Jul 9, 2009 6:27am
Quoting ljr
I had an order in at 8625 which is just below the IB on my 4H chart. This has triggered now and it ran down to around 8585 as the BOE announcement came through.

I don't usually worry too much about the news but I have moved my stop to BE incase this reverse up quickly.
Trimmed my s/l to 8630, but wish I as at b/e!
  • #36,869
  • Jul 9, 2009 6:30am Jul 9, 2009 6:30am
Quoting Interceptor
Trimmed my s/l to 8630, but wish I as at b/e!
.....and to breakeven(bit nervy!).
  • #36,870
  • Jul 9, 2009 6:44am Jul 9, 2009 6:44am
Quoting Interceptor
Interesting points, but can you in fact have it 'both' ways?
By this I mean that, if the philosophy re "The News" is that you just ignore it, then said philosophy must surely be of universal application? Eg, you cannot cherry pick which news items/events are tradeable(and this incorporates the negative, ie deliberately NOT trading when news announcements are expected). If you deliberately choose not to trade around an expected news event, then you are in essence trading the news.
PA is all PA, whether it's a violent reaction to Trichet placing...
I see your points. I have heard of traders not trading on NFP days though... it actually seems pretty common. I think we CAN have it both ways... trading some news and not others. As you say, we always have to make a decision... whether to take a setup or not, whether to trade regardless of news, whether to move a stop because of news (which seems even more common). As I said, still learning. As of now, this trade has not reached my point where i would have moved to B/E...
  • #36,871
  • Jul 9, 2009 6:55am Jul 9, 2009 6:55am
Quoting Jduester
I see your points. I have heard of traders not trading on NFP days though... it actually seems pretty common. I think we CAN have it both ways... trading some news and not others. As you say, we always have to make a decision... whether to take a setup or not, whether to trade regardless of news, whether to move a stop because of news (which seems even more common). As I said, still learning. As of now, this trade has not reached my point where i would have moved to B/E...
I think you're quite right in saying that many traders do not trade around NFP's; indeed many also avoid FOMC's and BOE's etc. This, to me, is the sensible approach. However, there are some, of shall we say a slightly more 'dogmatic' outlook, who say that you can basically just ignore ALL news and blithely trade on as though it wasn't happening in the first place.
Which in all honesty I think is just errant nonsense.
  • #36,872
  • Jul 9, 2009 6:59am Jul 9, 2009 6:59am
Trying a ghous like blind order here. orange lines indicate PPZ and the solid blue line is the 38% retrace of move down from the high.

trying a blind short. Lets see how it works. Small profit target.
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  • #36,873
  • Jul 9, 2009 7:00am Jul 9, 2009 7:00am
Quoting verno
Trying a ghous like blind order here. orange lines indicate PPZ and the solid blue line is the 38% retrace of move down from the high.

trying a blind short. Lets see how it works. Small profit target.
I am in short with you
  • #36,874
  • Jul 9, 2009 7:41am Jul 9, 2009 7:41am
Quoting verno
Trying a ghous like blind order here. orange lines indicate PPZ and the solid blue line is the 38% retrace of move down from the high.

trying a blind short. Lets see how it works. Small profit target.
Hi Verno,

May I ask you which platform are you using?..
I see it has 2H bars which I like..

Clode
  • #36,875
  • Jul 9, 2009 7:45am Jul 9, 2009 7:45am
James16,

I'm not attacking you and don't want to be rude, but:

while reading your thread I've noticed james16group, went to this site, noticed 129$ for something and then stopped - you know what I'm talking about. Don't be angry - we all have seen this before. Assurance, testimonials......and Visa card picture at the end.

C'mon James, what do you need the goddamn 129 bucks for? Why are you selling something? Do you have to earn money this way? Why? Forex is not enough?

P.S.

Every one who's been in forexland for some time knows why I'm being sceptical.
  • #36,876
  • Jul 9, 2009 7:58am Jul 9, 2009 7:58am
Quoting T.E.Lawrence
James16,

I'm not attacking you and don't want to be rude, but:

while reading your thread I've noticed james16group, went to this site, noticed 129$ for something and then stopped - you know what I'm talking about. Don't be angry - we all have seen this before. Assurance, testimonials......and Visa card picture at the end.

C'mon James, what do you need the goddamn 129 bucks for? Why are you selling something? Do you have to earn money this way? Why? Forex is not enough?

P.S.

Every one who's been in forexland for some time knows why I'm being...
In reading this thread, you should notice a difference between this one and other threads that promote paid sites or whatever--This thread is not a "I have a winning method join my private paysite to find out how I got rich" thread. James16 is still very active in this thread, and is definitely not pitching the private forum (PF). I'm not a member of the PF, so I hope I am not overstepping my bounds, but I believe the PF is there for advanced traders who wish to dive deeper into PA analysis and live trading. There is even a wealth of invaluable material in the guest area of james16group. As I said, I'm not a paying member of the PF, nor am I bitter about it's existence. James16 openly discusses his strategies and price action analysis here and I do not ever recall reading any advertising or promoting for james16group. Perhaps you should keep reading before making assumptions... I don't mean to offend or attack you, this is just my opinion.

Tyler
skype: ststroud. let's talk trading.
  • #36,877
  • Jul 9, 2009 8:00am Jul 9, 2009 8:00am
Quoting T.E.Lawrence
James16,

I'm not attacking you and don't want to be rude, but:

while reading your thread I've noticed james16group, went to this site, noticed 129$ for something and then stopped - you know what I'm talking about. Don't be angry - we all have seen this before. Assurance, testimonials......and Visa card picture at the end.

C'mon James, what do you need the goddamn 129 bucks for? Why are you selling something? Do you have to earn money this way? Why? Forex is not enough?

P.S.

Every one who's been in forexland for some time knows why I'm...
lol...you can tell you just started to trade and have not had to figure out the things for yourself, If you had you would not give it free. And even though I am not in his site $ 129 is free from my perspective.
  • #36,878
  • Jul 9, 2009 8:06am Jul 9, 2009 8:06am
Quoting T.E.Lawrence
James16,

I'm not attacking you and don't want to be rude, but:

while reading your thread I've noticed james16group, went to this site, noticed 129$ for something and then stopped - you know what I'm talking about. Don't be angry - we all have seen this before. Assurance, testimonials......and Visa card picture at the end.

C'mon James, what do you need the goddamn 129 bucks for? Why are you selling something? Do you have to earn money this way? Why? Forex is not enough?

P.S.

Every one who's been in forexland for some time knows why I'm being...

Did you notice the date of when the thread started by chance?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #36,879
  • Jul 9, 2009 8:20am Jul 9, 2009 8:20am
Quoting LasVahGoose
Did you notice the date of when the thread started by chance?
NFA says a typical person lost 10k usd to a forex scam broker.

if they pay 100$ following j method probably most will avoid such a fate.
  • #36,880
  • Jul 9, 2009 8:35am Jul 9, 2009 8:35am
I really suggest you read a little more!



Quoting T.E.Lawrence
James16,

I'm not attacking you and don't want to be rude, but:

while reading your thread I've noticed james16group, went to this site, noticed 129$ for something and then stopped - you know what I'm talking about. Don't be angry - we all have seen this before. Assurance, testimonials......and Visa card picture at the end.

C'mon James, what do you need the goddamn 129 bucks for? Why are you selling something? Do you have to earn money this way? Why? Forex is not enough?

P.S.

Every one who's been in forexland for some time knows why I'm...
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