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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

  • #37,701
  • Jul 16, 2009 4:10am Jul 16, 2009 4:10am
Quoting Cyrus
Hi Guys,

Pretty new to the thread.
Not new to trading.
Been trading and breaking even for quite awhile...
This stuff has been pushing my equity curve upward.
Betting small for now as developing more and more confidence. =)

Read through the 1st 100++ pages of the thread.
It's AWESOME STUFF.
I'm a convert.
And yes, THANK YOU JAMES.

Quick question, I refer to post #37677 by Jarroo on the thread, pg 2512.

This be a 16 hour pinbar per se right?...

Not a strict PB in the way we trade them, Open and Close not within the previous bar. But Mr. Pring would say "looks good".

You can combine any number of bars, in any way you want. You would be surprised what you will see. J16 PA turns up in many different combos.
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Indicators show the past. Price Action "Indicates" the future.
  • #37,702
  • Jul 16, 2009 4:12am Jul 16, 2009 4:12am
Quoting Cyrus


"Only those who have the patience to do simple things perfectly will acquire the skill to do difficult things easily"



I almost forgot. Love that quote.
Indicators show the past. Price Action "Indicates" the future.
  • #37,703
  • Jul 16, 2009 5:08am Jul 16, 2009 5:08am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Quoting jarroo
Usd/Jpy 4 Hour BEOB. Trigger was below 94.00. A tight stop loss just above the BarBreak would have worked out nicely. About 10-15 pips s/l.

Does it work all the time? No. But you would be surprised how often it does.

Ist target hit by the way at 93.50.
Well, a lot of vampires are hiding and waiting for a close below 93.50....I recon one of them is SL.
  • #37,704
  • Jul 16, 2009 5:14am Jul 16, 2009 5:14am
Aloha all,

First post here and wanted to share something that might be helpful to other newbies, such as myself. Not that time is so much an issue when trading daily/weekly charts, but I found it somewhat cumbersome determining what my ideal lot size per pair should be for a given percentage of account size.
I've used the following excel file to aide me in this effort. I use it in the MT4 platform and if you would like to do the same it is necessary to enable the DDE server under "tools" - "options" - "server". You will need to have the MT 4 platform open and update the workbook upon opening
I realize this determination might be quite simple for most of you but it has helped me.

Mahalo for all the insight, Newbs and OT's alike
Attached File(s)
File Type: xls Lot_size_management.xls   18 KB | 708 downloads
A lawn mower is not an effective tool to pick-up dog poop!
  • #37,705
  • Jul 16, 2009 5:20am Jul 16, 2009 5:20am
Quoting joelcf
It isnt a formal ranking system

A+ means good.
A+++ means gooder.
A++++++++++++++ means goodest.

The others are even more subjective!
B means im boredtrading
c means i should know better but am considering actin a fool.
d means i finished that bottle of single malt tonight and its shotgun time!
LOL...
  • #37,706
  • Jul 16, 2009 5:33am Jul 16, 2009 5:33am
Quoting jarroo
Usd/Jpy 4 Hour BEOB. Trigger was below 94.00. A tight stop loss just above the BarBreak would have worked out nicely. About 10-15 pips s/l.

Does it work all the time? No. But you would be surprised how often it does.

Ist target hit by the way at 93.50.
Jaroo I think that might also be one of those IPB bars that ghous (I think) talks about trading.
  • #37,707
  • Jul 16, 2009 5:54am Jul 16, 2009 5:54am
Waiting for a retracement.
I am on page 48 now. Littlebit confused about confluence or PPZ. Reading on, so It will get cleared.
Mahesh
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  • #37,708
  • Jul 16, 2009 5:56am Jul 16, 2009 5:56am
Quoting Almfx
I will be looking to trade LONG at the next PPz (153) in the way down.
BTW, what is that case study thing all about?
ALM
The blind entry plays out!
SL at BE and +100pip and counting
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #37,709
  • Jul 16, 2009 6:11am Jul 16, 2009 6:11am
I am in learning phase. Please let me know if I am wrong.
Thanks in advance.
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  • #37,710
  • Jul 16, 2009 6:14am Jul 16, 2009 6:14am
Quoting maheshbohir
Waiting for a retracement.
I am on page 48 now. Littlebit confused about confluence or PPZ. Reading on, so It will get cleared.
Mahesh
Hi Mahesh,

Yes, that is a TBLHC.

But, It would be better located at a good swing low. Also, be aware that there is the 1.65 round number just above it.

Well, it can work out fine, but it is a little bit too risky in my opinion... if you play it, just pay attention to all the factors...
  • #37,711
  • Jul 16, 2009 6:20am Jul 16, 2009 6:20am
hey Luso,
Thanks for a prompt reply.
I am in love of this thread for this.
Quoting Luso
Hi Mahesh,

Yes, that is a TBLHC.

But, It would be better located at a good swing low. Also, be aware that there is the 1.65 round number just above it.

Well, it can work out fine, but it is a little bit too risky in my opinion... if you play it, just pay attention to all the factors...
  • #37,712
  • Jul 16, 2009 6:30am Jul 16, 2009 6:30am
Quoting maheshbohir
hey Luso,
Thanks for a prompt reply.
I am in love of this thread for this.
Hey Mahesh,

No problem.

I think you are finding good candles regarding their shape... But more important than that is the location... I would suggest you go to the weekly and daily tf, zoom out your chart, and find the best horizontal S/R (ppz's = zones)...

regards,
Luso

P.S. - You will love this thread more after interacting with the masters of James16 method, not me...
  • #37,713
  • Jul 16, 2009 6:35am Jul 16, 2009 6:35am
Quoting Luso
P.S. - You will love this thread more after interacting with the masters of James16 method, not me...
Sure
  • #37,714
  • Jul 16, 2009 6:37am Jul 16, 2009 6:37am
First trade
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  • #37,715
  • Jul 16, 2009 6:48am Jul 16, 2009 6:48am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Hey Mahesh,
Welcome and congrats for your first trade.
Re your GU dlhc, just have a look at the bigger pix...daily.
BTW this is not an trade/no trade recommendation....just the way I see it .
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  • #37,716
  • Jul 16, 2009 6:54am Jul 16, 2009 6:54am
Quoting 2mas
Hey Mahesh,
Welcome and congrats for your first trade.
Re your GU dlhc, just have a look at the bigger pix...daily.
BTW this is not an trade/no trade recommendation....just the way I see it .
I am just confirming whether I am wrong or not? Yes, I agree that bigger pix is the key always. Now for this DBLHC on cable-H4 is in sync with daily chart as there is nice bullish pin bar three days back.
Please, let me know if I'm wrong.

P.S. My English skills are poor. So sometimes I could not convey properly what I want to say.
  • #37,717
  • Jul 16, 2009 6:57am Jul 16, 2009 6:57am
maheshbohir,
u sure u are just in the learning phase?
coz u are either a genius or a quick learner.


2mas,
that's it, 1 post at a time. I know u can do it, Sir
... there's an ongoing conspiracy within the 'frequent posters circle', which is not to post at all, so u can 'do your thing' here.
  • #37,718
  • Jul 16, 2009 6:57am Jul 16, 2009 6:57am
Just curious about it.
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  • #37,719
  • Jul 16, 2009 7:53am Jul 16, 2009 7:53am
couple of nice 1hr bars shaping up on USD and JPY pairs..
Grabbing the bull by the horns!
  • #37,720
  • Jul 16, 2009 7:57am Jul 16, 2009 7:57am
Niceish pin forming on the AUDJPY 1h/4h.

AUDJPY 4H - 16/07/09 2300hrs
1h/4h pin (2d)
Nose to 75.85
Break at 75.13

Entry Target 74.95

Pros: Bouncing right off a PPZ on 1h and 4h, low risk

Cons: right into a round number, pin doesnt extend through the ppz, i just got home from a 12h day at work, then dinner where I ate almost a kilo of wagyu and i feel sick.

Potential roadblocks:
75.00 - round number
74.80 - s/r ppz (daily), 23.6 fib

74.50 - swing low
73.75 - PPZ, 38.2 fib
72.50ish - big ppz, 61.8 fib


Potential stops:
76.10: r=115- above pin nose, round number, ppz
...


to be honest, if it wasnt 11pm and after a longass day, I would consider playing this one for a short term bounce down to 74.80, stop to b/e and then trail as per above.

As it is, I probably couldnt be bothered staying up for the 50-100 pips on a B grade setup in traffic

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double con: I think AUDUSD looks tastier. Longer pin, roundtrip through ppz, less traffic.

And has a tighter spread, since it isnt a stupid cross.
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When you have to shoot, shoot. Dont talk.
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