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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

  • #37,821
  • Jul 16, 2009 11:45pm Jul 16, 2009 11:45pm
Quoting PippingMama
Hello Ghous,

Is it this the nice IPB that we should look for?

I found so many pairs have formed the IPB today, most of the Yen pairs.

Do you think it is tradable? I want to get in but too late since I do not have too much confidence on the IPB yet.

Pippingmama
Hi PM,

Sorry for the late reply, I am asleep (Mike's only 1 ) during the Asian sessions.

Most of these IPBs are at good locations but I don't like the shapes, they are way too small, for them to be powerful you need them long and authoritative.

But a good break below the close of these bearish IPBs confirm their validity.

It's good that you did not trigger any trades despite the temptation. Practice them on your demo till you get good with them PM...an advice not uncommon.

Regards,
Ghous.
I believe . . .
  • #37,822
  • Jul 16, 2009 11:54pm Jul 16, 2009 11:54pm
Quoting Jlr
Eswap is right though, you can't draw a trendline simply from 2 points, if you did, every single pip move upward would be breaking some trendline you need at least 3 points
Ok ill go with Martin Pring.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,823
  • Jul 17, 2009 12:01am Jul 17, 2009 12:01am
I've become a big fan of trend lines, I've been trading with Jacko for the last few months. He uses 2 trend lines one for support and one for resistance. Trades with the trend and looks at round numbers and the 50% fib. Simple and it works. Cha Ching $$$$

So trend lines are working for some people. Naturally, it doesn't mean it will work for everyone. All these methods of trading in the end are filters for looking at the market. I'm thinking it is a matter of finding a filter for your brain so you can see the market and start raking in the dough.

Don't get me wrong, I'm huge fan of the J16 way, PPZ's "are the ultimate power in the universe, I suggest we use them".
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #37,824
  • Jul 17, 2009 12:12am Jul 17, 2009 12:12am
Aud/usd is an interesting chart to watch. Two approaching trendline and the .8000 in the mix.
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  • #37,825
  • Edited 12:40am Jul 17, 2009 12:26am | Edited 12:40am
Quoting tac
Ok ill go with Martin Pring.
hey tac mate, i feel you were a bit defensive with your responce to eswapO's posts. they were trying to help. the only point they were trying to make is that the point at which you have used for the second touch for ur TL is not a good 1. think about it price nust keep falling to make that TL valid. the fact you were talking about it as a confluence gave us reason to be concerned as it wouldnt be.(untill price dropped AT LEAST and for me a third reaction to validate the line.) just dont want you to waste any money old bean,
good luck
jon
p.s. here's a couple of TL trades iv took latley if anyone is interested
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PATIENCE... DISCIPLINE
  • #37,826
  • Jul 17, 2009 12:39am Jul 17, 2009 12:39am
Quoting Icehocey77
Aud/usd is an interesting chart to watch. Two approaching trendline and the .8000 in the mix.
this on my watch list also. its gonna do something sooner or later thats for sure. it looks a bit bearish to me but lets wait n see if the 80 level holds??
cheers jon
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PATIENCE... DISCIPLINE
  • #37,827
  • Jul 17, 2009 12:40am Jul 17, 2009 12:40am
Quoting g_j_hook@yah
hey tac mate, i feel you were a bit defensive with your responce to eswapO's posts. they were trying to help. the only point they were trying to make is that the point at which you have used for the second touch for ur TL is not a good. think about it price nust keep falling to make that TL valid. the fact you were talking about it as a confluence gave us reason to be concerned as it wouldnt be.(untill price dropped AT LEAST and for me a third reaction to validate the line.) just dont want you to waste any money old bean,
good luck
jon
p.s....
Hear HEAR!

It's the TL guy...

Good job Jon.
I believe . . .
  • #37,828
  • Jul 17, 2009 12:48am Jul 17, 2009 12:48am
Quoting ghous
Hear HEAR!

It's the TL guy...

Good job Jon.
ohho!! stop right there sir ghous!!
i know nothing! just pointing out the obvious mate. wouldnt want to see cash thrown away.
jon
p.s. u are up early arnt u!! ahhh the energy of youth!! lol
pps. thats actually my name...Guy ! haha
PATIENCE... DISCIPLINE
  • #37,829
  • Jul 17, 2009 12:54am Jul 17, 2009 12:54am
Quoting g_j_hook@yah
ohho!! stop right there sir ghous!!
i know nothing! just pointing out the obvious mate. wouldnt want to see cash thrown away.
jon
p.s. u are up early arnt u!! ahhh the energy of youth!! lol
pps. thats actually my name...Guy ! haha
lol!

It's 10:53 am here bro, I am fortunate enough to see the sun during the Ny and London session and have the liberty to sleep through the boring Asian sessions (night time here in Pakistan).

Ghous.
I believe . . .
  • #37,830
  • Jul 17, 2009 12:56am Jul 17, 2009 12:56am
Quoting tac
Ok ill go with Martin Pring.
i have only read bits of his books so i cant say but in my search i couldnt find anything better than whats here on FF. i agree with SC on this one try aediaz1's and belekas' threads and posts. good stuff.
jus my opinion
jon
PATIENCE... DISCIPLINE
  • #37,831
  • Jul 17, 2009 12:58am Jul 17, 2009 12:58am
Quoting ghous
lol!

It's 10:53 am here bro, I am fortunate enough to see the sun during the Ny and London session and have the liberty to sleep through the boring Asian sessions (night time here in Pakistan).

Ghous.
ahha!! for some reason i though you were in the uk!?!? dont know why.
happy hunting bro
jon
p,s, i like your new signiture !!lol it reminds me of some of my ex girlfriends! hehe
Quote
Man has to suffer. When he has no real afflictions he invents some...
PATIENCE... DISCIPLINE
  • #37,832
  • Jul 17, 2009 1:00am Jul 17, 2009 1:00am
I read this quote from the Master James

<<what all of you have to see in this is that Ryan earned his stripes. the fact that he is better at lower time frames than larger is no mysterious thing. im better at a 2000 tick dow chart than i am a daily forex chart. in my case its not really the time frames its the markets. i know the dow from years of trading it.>>

James if you know the 2000 Tick chart and trading the Dow better than the Daily Forex chart, can you please teach us your wisdom and experience so we can trade the 2000 Tick chart on the Dow?

Pretty Please?

Trading is trading to me, I don't care how money is made, but to learn to trade the Dow intraday would be wicked!
Just a boy playing with big bars.
  • #37,833
  • Jul 17, 2009 1:17am Jul 17, 2009 1:17am
Quoting jimboo
I read this quote from the Master James

<<what all of you have to see in this is that Ryan earned his stripes. the fact that he is better at lower time frames than larger is no mysterious thing. im better at a 2000 tick dow chart than i am a daily forex chart. in my case its not really the time frames its the markets. i know the dow from years of trading it.>>

[b]James if you know the 2000 Tick chart and trading the Dow better than the Daily Forex chart, can you please teach us your wisdom and experience so...
hey Jimboo hes doing just that!! i believe he trades that market like any other. thats one of the beauties of this method.
jon
PATIENCE... DISCIPLINE
  • #37,834
  • Jul 17, 2009 2:16am Jul 17, 2009 2:16am
Quoting g_j_hook@yah
hey tac mate, i feel you were a bit defensive with your responce to eswapO's posts. they were trying to help. the only point they were trying to make is that the point at which you have used for the second touch for ur TL is not a good 1. think about it price nust keep falling to make that TL valid. the fact you were talking about it as a confluence gave us reason to be concerned as it wouldnt be.(untill price dropped AT LEAST and for me a third reaction to validate the line.) just dont want you to waste any money old bean,
good luck
jon
p.s....
Not defensive just trying to help people, trendlines are drawn on 2 or more touches, like you have drawn in your chart. The trendline I drew is hit 4-5 times by daily bars, maybe not fractals. I wouldn't trade based on just that I also mentioned the round number then 2 fibs levels from different swings. I would call that confluence.

Hope that helps you. Good trading.

Tac
I hear and I forget. I see and I remember. I do and I understand.
  • #37,835
  • Jul 17, 2009 2:23am Jul 17, 2009 2:23am
Quoting supremeChaos
Chris,
i believe i've mentioned this awhile back.
u can check out aediaz1's thread & post, also belekas'.

Hmmm...never been there SC. I'll have to go look sometime.
Ghost Rider - WWTBMD?
  • #37,836
  • Jul 17, 2009 2:23am Jul 17, 2009 2:23am
Quoting g_j_hook@yah
i have only read bits of his books so i cant say but in my search i couldnt find anything better than whats here on FF. i agree with SC on this one try aediaz1's and belekas' threads and posts. good stuff.
jus my opinion
jon
You should read his books you will learn loads along with this great thread. I think Jim even mentions him as an influence. Try reading this thread from the beginning also, check out isotonics charts, youll see why drawing trendlines as confluence is helpful. http://www.forexfactory.com/showpost...&postcount=521
I hear and I forget. I see and I remember. I do and I understand.
  • #37,837
  • Jul 17, 2009 2:32am Jul 17, 2009 2:32am
jimboo,
i believe there's a slim chance for that.
Sir james16 wants us all to concentrate & get good at H4 & up charts first.

...probably in the near future when we are all collectively better in higher TF trading. probably he discusses Dow in the PF (private/paid forum) too.
  • #37,838
  • Jul 17, 2009 2:35am Jul 17, 2009 2:35am
Quoting tac
You should read his books you will learn loads along with this great thread. I think Jim even mentions him as an influence. Try reading this thread from the beginning also, check out isotonics charts, youll see why drawing trendlines as confluence is helpful. http://www.forexfactory.com/showpost...&postcount=521
jeeez, i give up
good luck fella.
p.s. if you had read it you would see iv been posting over a year.
i didnt see the TL hit 4 or 5 times???
were jus trying to help mate.
jon
PATIENCE... DISCIPLINE
  • #37,839
  • Jul 17, 2009 3:20am Jul 17, 2009 3:20am
Quoting tac
Not defensive just trying to help people, trendlines are drawn on 2 or more touches, like you have drawn in your chart. The trendline I drew is hit 4-5 times by daily bars, maybe not fractals. I wouldn't trade based on just that I also mentioned the round number then 2 fibs levels from different swings. I would call that confluence.

Hope that helps you. Good trading.

Tac
Jon's right Tac,

The trend line you drew was just not valid.

trend lines are drawn on more than 2 touches not 2 or more touches.

It is pretty ok to be wrong at times, after all we're all here to correct and be corrected.
I believe . . .
  • #37,840
  • Jul 17, 2009 3:25am Jul 17, 2009 3:25am
for what it is worth. James does not even use trendlines. Just horizontal support and resistance. I only personally use Extremely clear trendlines for breakouts.


Mike
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