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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

  • #37,781
  • Jul 16, 2009 3:54pm Jul 16, 2009 3:54pm
hello jimboo,

the day you can work out ryan will be the day you reach a level of understanding in this business very few reach.

it is much easier to become a doctor than a succesful trader.

but when you become a succesful trader it really is easy.

i can say with 100 percent certainty what he said is true.

i know it sounds convuleted but its the gods honest truth.

ryan says things all the time that boggle many of your minds but i shake my head in agreement.

you just have to climb the mountain and see that valley to understand.

words cant do it.

jim



those
Quoting jimboo
Forgive me but I can't work you out. One minute you post with charts saying how easy trading is, then you flip flop and say it's more harder than becoming a Doctor?? What type of Doctor are you talking about, a Witch Doctor?

I can say Trading is much easier than being a Doctor who has to deal with different life and death situations everyday....give me a chart anyday, those Doctors are Hero's to me.
  • #37,782
  • Jul 16, 2009 3:58pm Jul 16, 2009 3:58pm
Quoting jimboo
Why are you not living in a Tax free Haven?

Because I like the US and can live any place I want but I am not going to live in a 3rd world country that sucks so I don't have to pay tax, that's just dumb to me.


Also let see if you last past 6 months if this is so easy I am not trying to be a ass but I think you are saying it's so easy and I can see how you are starting to fail already when you say "I take 50% off because I have fear" well once you grow you account and if you do okay when 1 pip = $100 you will see what true EMOTION is much less $1000 a pip, or have 10 losers in a row. Also read some of my old posts before you think I am just a retard bashing on the new people, I have crashed and burned for years before I got it right...


Read this link, Jim put it on the front page.


http://www.forexfactory.com/showpost...ostcount=31232
Keep taking CT trades, I need more money
  • #37,783
  • Jul 16, 2009 4:06pm Jul 16, 2009 4:06pm
Quoting Ryanmcd
The key I am finding out after years of doing this is add'in into a winner not killing it, if I am in a trend trade and it's working out I will be looking at way to add into this position to make it work better and enjoy the run and use PA to add into the position, It's nice having a 2% risk trade make 15+%
Bob would be so proud.
  • #37,784
  • Jul 16, 2009 4:41pm Jul 16, 2009 4:41pm
Quoting alyehoud
I understand. So, for example, what then would a dblhc sitting right on a weekly support line with a confluence of Fibs in an up trend tell you? It's likely to bounce (continue up) in the direction of the trend, or break the strong support level (down) and retrace/change general trend direction?

Does that make sense?
A dblhc is a bullish bar, so...odds are that weekly support is holding.
  • #37,785
  • Jul 16, 2009 4:46pm Jul 16, 2009 4:46pm
Inside bar or TBH on the GBP/JPY daily at trend line resistance and round number. Perhaps a breakout up or down or a few more inside bars along the trendline before it shows its hand?
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I hear and I forget. I see and I remember. I do and I understand.
  • #37,786
  • Jul 16, 2009 4:48pm Jul 16, 2009 4:48pm
Quoting jimboo
That's easy to answer, the Doctors you know and the Traders that failed didn't read this thread.
They did, and still do.

RM
  • #37,787
  • Edited 5:09pm Jul 16, 2009 4:54pm | Edited 5:09pm
Your seasoned critiques would be welcome....I'm looking at a buovb 4hr 90 pip scalp. What do you guys think? It bounced off of a major support level in order to form the buovb...

Perhaps too much traffic there...maybe I'll hold off on this one...Perhaps I'll take it if it closes above 75.60

GregB
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  • #37,788
  • Jul 16, 2009 4:59pm Jul 16, 2009 4:59pm
Quoting tac
Inside bar or TBH on the GBP/JPY daily at trend line resistance and round number. Perhaps a breakout up or down or a few more inside bars along the trendline before it shows its hand?
Second touch of a TL means nothing for me, as it indeed starts the TL.
I would watch 155 strong PPZ and FIB 61 rejection and confluence with HndS neckline.
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Trading: the skill of avoiding trades
  • #37,789
  • Jul 16, 2009 5:09pm Jul 16, 2009 5:09pm
Quoting eswap0
Second touch of a TL means nothing for me, as it indeed starts the TL.
I would watch 155 strong PPZ and FIB 61 rejection and confluence with HndS neckline.
Keep it simple you have so many lines on your chart I can barely see , don't have too many indicators, I pointed out the round number. There is a 50 fib in confluence also. If you dont think price is in an area where it is going to react then you need to read the thread from the beginning.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,790
  • Jul 16, 2009 5:12pm Jul 16, 2009 5:12pm
Quoting batesmotel
Your seasoned critiques would be welcome....I'm looking at a buovb 4hr 90 pip scalp. What do you guys think? It bounced off of a major support level in order to form the buovb...

Perhaps too much traffic there...maybe I'll hold off on this one...Perhaps I'll take it if it closes above 75.60

GregB

Hey Bates, not only that but to my newbie eyes I see a daily bullish pin on the 60 ma with fib confluence...am I off base?
  • #37,791
  • Jul 16, 2009 5:15pm Jul 16, 2009 5:15pm
Quoting Bemac
To the Daunted:
Would you rather that it be 2 pages long?
Man you are so right and the poster that said if you aren't willing to go through it or want the quick summary you aren't serious enough. I agree 100%. When I found this and other info, it was NEVER long enough. So I re-read it a million times. This is the hardest easiest thing I ever learned to do.
  • #37,792
  • Jul 16, 2009 5:16pm Jul 16, 2009 5:16pm
Quoting tac
If you dont think price is in an area where it is going to react
I did't say that: just said TL was not important here.
Quoting tac
then you need to read the thread from the beginning.
Done!
Trading: the skill of avoiding trades
  • #37,793
  • Jul 16, 2009 5:17pm Jul 16, 2009 5:17pm
Quoting Rainmaker
They did, and still do.

RM
RM shouldn't you be cutting someones belly open while trading. Here is a man that does BOTH!
  • #37,794
  • Jul 16, 2009 5:18pm Jul 16, 2009 5:18pm
Quoting Bryan
Hey Bates, not only that but to my newbie eyes I see a daily bullish pin on the 60 ma with fib confluence...am I off base?
I'm not sure I picture what you're talking about...post a Chart if you can (edit your message....go to "advanced") ...you can add a jpg or gif there.

GregB
  • #37,795
  • Jul 16, 2009 5:22pm Jul 16, 2009 5:22pm
Quoting eswap0
I did't say that: just said TL was not important here.

Done!
Then why have you all the lines on your chart?
I hear and I forget. I see and I remember. I do and I understand.
  • #37,796
  • Jul 16, 2009 5:35pm Jul 16, 2009 5:35pm
Quoting eswap0
Done!

LOL...I've read it three times and I'm not "done"...LOL

I think Mike is in the double digits somewhere. I may not be the sharpest tool in the box but I'm no dummy. I don't think you can read this thread once and have it down IMHO.
Ghost Rider - WWTBMD?
  • #37,797
  • Jul 16, 2009 5:39pm Jul 16, 2009 5:39pm
Quoting tac
Then why have you all the lines on your chart?
IMHO TL can be important, but much less than PPZ, as you can draw TL in many different ways, so it is difficult to guess what everybody will do.
But in any case, if you are in a bar after the second point of a TL you can not say the preceding bar is a resistance, because it is too close to it.
Just trying to help.
Trading: the skill of avoiding trades
  • #37,798
  • Jul 16, 2009 5:44pm Jul 16, 2009 5:44pm
Quoting albchr
LOL...I've read it three times and I'm not "done"...LOL
English is not my mother tongue: not trying to say I already learned everything, but my lack of trading skills don't come for a lack of reading.
Trading: the skill of avoiding trades
  • #37,799
  • Jul 16, 2009 5:48pm Jul 16, 2009 5:48pm
Quoting eswap0
IMHO TL can be important, but much less than PPZ, as you can draw TL in many different ways, so it is difficult to guess what everybody will do.
But in any case, if you are in a bar after the second point of a TL you can not say the preceding bar is a resistance, because it is too close to it.
Just trying to help.
A trend line is simply connecting highs or lows, on a daily chart its obvious. Read the thread again, one of Jims first advice is to watch for trendlines when trading, also the bars are at a round number, as I have stated, I feel you are nitpicking, and don't understand why.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,800
  • Jul 16, 2009 5:54pm Jul 16, 2009 5:54pm
Trend lines can have their place when plotted correctly. I'm actually studying up on plotting them right as just another tool in the box.

Side to side are the best IMHO but a well drawn TL to me can be like a fib or MACD, just another form of confluence.
Ghost Rider - WWTBMD?
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