james16 Chart Thread | Page 1925 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #38,481
  • Jul 23, 2009 12:18am Jul 23, 2009 12:18am
Quoting supremeChaos
scott,
I agree with jarroo.

I too, like this one:

This is a very coordinated, well thought-out pro-transition process.
Try it out, I was really glad I started doing it. I don't know if it will work for everyone but for me it curbs those feelings of needing to trade frequently to make serious money. You can look at your live account, look at the demo, and realize you aren't trading any differently between the two! The only difference is account capitalization!**

This really helps me see that I don't have to change what I am going now to make the kind of money I want. The only thing I need is a large account, which can be had in time.


Scott

**edit: I'm sure a lot of people know that they don't have to change their trading to achieve what they want. I think actually taking the trades on a large account with a small live account and seeing the dollars and cents add up (and compound over time) helps. You can also see right in front of your face that you were the one that grew this large demo and you have the numbers and account history (both live and demo) to prove it.
  • #38,482
  • Jul 23, 2009 12:27am Jul 23, 2009 12:27am
Quoting Shermenator
Look for price action here ...we should at least get a retracement to the last fall over the past couple of days...

Attachment
Got nice divergence too on my 4Hr
Nice PA at 1.1 Round number will be nice
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #38,483
  • Jul 23, 2009 1:45am Jul 23, 2009 1:45am
Quoting batesmotel
Question:

Ok....I knew this SOB CADJPY was heading north...there was a PERFECT Weekly BUOVB...BUT, the Englfing Bull Bar closed right on the the Monthly Resistance level and round number 85.00.

Can I take a Long in this scenario? GOD, I wanted to go long...but I refrained myself...I reckon it has approx. 423 pips worth of legs before encountering any major resistance...

Maybe it's not too late...or perhaps I can catch a limit buy if I get picked up at 85.00.

Comments would desperately help here.....

GregB
While to me it looks quite enticing too, especially the bounce off the pivot fib, but if you scale down to the daily TF there seems to be a nice H&S pattern forming. Think I'd want some more definite confirmation b4 letting this one ride too long. Just my thoughts.

Aloha
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 14 KB
A lawn mower is not an effective tool to pick-up dog poop!
  • #38,484
  • Jul 23, 2009 1:55am Jul 23, 2009 1:55am
Quoting supremeChaos
Cyrus,
since u too are from Asia, i decided to intentionally delay posting this (u went offline about the same time as me last night).
Since u are now online.... here's my response:


if u would notice, my previous response was directed purely to the discussion of the PA shape (sort of the "meat" of your initial question)
but it's great that u are looking for confluences as in this potential trade setup, to discern if if a setup is promising/valid or not (according to your own risk profile)

Location & Shape (PA's shape in the context of itself...
Dude.
Thanks alot. Appreciate it plenty. =)
One Mind, Any Market
  • #38,485
  • Jul 23, 2009 1:57am Jul 23, 2009 1:57am
Quoting Shermenator
Look for price action here ...we should at least get a retracement to the last fall over the past couple of days...

Attachment
Shermenator

Where did u get that indicator that shows all the short and long levels and how does it work ? Looks very interesting.
  • #38,486
  • Jul 23, 2009 2:18am Jul 23, 2009 2:18am
Hey Guys,

Just a quick update before I go to work, my first demo trade went exactly to the pip where I placed my T/P. I know not all will be like this but thanks to Jim and the guys, this thread is absolutely invaluable. . 2% Risked gained 1.58%.

Regards

Tac
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-07-22_2233_USDJPY_Winner.png Size: 75 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #38,487
  • Jul 23, 2009 2:39am Jul 23, 2009 2:39am
tac,
first demo trade: profitable. Congrats!
More practice, & slowly u will be on your way!
  • #38,488
  • Jul 23, 2009 2:40am Jul 23, 2009 2:40am
Here is the other setup I am looking for ..all I need now is the clear price action...

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 31 KB
  • #38,489
  • Jul 23, 2009 2:42am Jul 23, 2009 2:42am
Quoting Billy73
Shermenator

Where did u get that indicator that shows all the short and long levels and how does it work ? Looks very interesting.
they are fibbs...istead of saying 38.2 50 and 61.8 I have names on them
  • #38,490
  • Jul 23, 2009 2:44am Jul 23, 2009 2:44am
Quoting supremeChaos
tac,
first demo trade: profitable. Congrats!
More practice, & slowly u will be on your way!
Thanks SC, Ill be demoing this stuff till im doing it in my sleep. (And save up a pile)
I hear and I forget. I see and I remember. I do and I understand.
  • #38,491
  • Edited 3:06am Jul 23, 2009 3:05am | Edited 3:06am
Quoting Billy73
Shermenator

Where did u get that indicator that shows all the short and long levels and how does it work ? Looks very interesting.
Without stepping on Sherm's toes, it's simply a MT4 fib tool with the labels renamed.
Long = 61.8
Pivot = .50
Short = 38.2
Low = 0.0
High = 100.0

Nice to see ya here from Bo's thread Sherm
A lawn mower is not an effective tool to pick-up dog poop!
  • #38,492
  • Jul 23, 2009 3:07am Jul 23, 2009 3:07am
Quoting tac
Im on demo for the foreseeable future but would still like any feedback from anyone on this thread regarding my trades.

Ok, my first ever J16 demo trade, im taking this quick 50 pips scalp got my SL down to 70 below the eye, so not 1:1 but im not worrying about R:R just where I see price going.

Quoting tac
Hey Guys,

Just a quick update before I go to work, my first demo trade went exactly to the pip where I placed my T/P. I know not all will be like this but thanks to Jim and the guys, this thread is absolutely invaluable. . 2% Risked gained 1.58%.

Regards

Tac

Very nice tac. Although not the best setup we look for . . but within the teachings of the big guy.


Notice the break of this Daily PB blue (30min chart to show break) very hard and strong. This is what I look for for confirmation that the setup is correct.

Notice the other PB (green) break was soso but it had a better confluence of a PPZ and 38.2 at the 94.50. The trade did reach the obvious target in purple.

Don't know if you took all off the table but a partial position at break even could go to the moon or the 96.00, 150 ema, 61.8 , which is the same thing. lol

Nice trade to learn from tac.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpydaily.gif Size: 26 KB
Click to Enlarge Name: jpy30.gif Size: 30 KB
Indicators show the past. Price Action "Indicates" the future.
  • #38,493
  • Jul 23, 2009 3:40am Jul 23, 2009 3:40am
Quoting jarroo
Very nice tac. Although not the best setup we look for...
Hi Jarroo,

Yeah, I knew it wasn't a A+, although the local levels it rejected and it shape showed a sharp rejection, I intend to play these setups and just take full profit at the first minor area of S/R (which is what I did here), Its the A+ setups that ill be more inclined to let them run longer. Thanks for the charts very useful. I dont care now if it runs to the moon, I got my profit .
I hear and I forget. I see and I remember. I do and I understand.
  • #38,494
  • Jul 23, 2009 3:44am Jul 23, 2009 3:44am
Quoting Shermenator
Here is the other setup I am looking for ..all I need now is the clear price action...

Attachment
Nice post, I just noticed the pattern on several other Yen pairs. I know I'll be watching to see how these play out.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #38,495
  • Jul 23, 2009 3:45am Jul 23, 2009 3:45am
Quoting tac
Hi Jarroo,

Yeah, I knew it wasn't a A+, although the local levels it rejected and it shape showed a sharp rejection, I intend to play these setups and just take full profit at the first minor area of S/R (which is what I did here), Its the A+ setups that ill be more inclined to let them run longer. Thanks for the charts very useful.

Even better tac. Not a bad way to go to take full profit on less the A+ setups.

But you never know . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #38,496
  • Jul 23, 2009 3:50am Jul 23, 2009 3:50am
This will close as a BUOB, but I'm looking for a bigger one. Gotta like the location. Maybe good for a hard break look.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #38,497
  • Jul 23, 2009 3:52am Jul 23, 2009 3:52am
Quoting jarroo
Even better tac. Not a bad way to go to take full profit on less the A+ setups.

But you never know . . . .
True but rather than sit babysitting a trade I would rather take profit where I know price should go based on this material. If that it 50 pips away or 500 then so be it. I will play as many pin bars as I can (on daily that are valid and have a chance of making at least 0.5RR) in order to learn them inside out, I think trading a set-up makes you more involved. This may evolve but fior now I am on a mission to master the pin bar.

Thanks for the input it is appreciated Jarro. I look forward to more posts.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,498
  • Jul 23, 2009 3:53am Jul 23, 2009 3:53am
Quoting jarroo
This will close as a BUOB, but I'm looking for a bigger one. Gotta like the location. Maybe good for a hard break look.
Usd/Chf's a better sight.
Attached Image
I believe . . .
  • #38,499
  • Edited 4:10am Jul 23, 2009 3:55am | Edited 4:10am
Quoting jarroo
This will close as a BUOB, but I'm looking for a bigger one. Gotta like the location. Maybe good for a hard break look.
Plus no signification retrace of that whole move down, support area, and some divergence showing in MACD.

50% retrace almost on top of the 1.13 round number.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-07-23_0204.jpg Size: 140 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #38,500
  • Jul 23, 2009 3:57am Jul 23, 2009 3:57am
Quoting ghous
Usd/Chf's a better sight.
I am also looking at Eu with interest.
Attached Image
I believe . . .
49 traders viewing now, 1 is registered:
Zojahamad