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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

  • #39,401
  • Jul 30, 2009 5:56am Jul 30, 2009 5:56am
Quoting LasVahGoose
We have a super market here in the U.S. that tries to get as much organic food as possible, they do have meat from NZ, but it is $45-$50 dollars per pound.
It's only the protectionist policies of the US and EU that make it expensive. If only they practised what they preached about free markets... everybody could eat quality meat
  • #39,402
  • Jul 30, 2009 6:07am Jul 30, 2009 6:07am
To be or not to be? ..... break!
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  • #39,403
  • Jul 30, 2009 6:18am Jul 30, 2009 6:18am
Quoting oltciter
To be or not to be? ..... break!
1.4000 Will Be a Level To Get Worried ... I Don't Like Selling Above Big Round (Psych) Numbers Or Vice Versa.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #39,404
  • Jul 30, 2009 6:19am Jul 30, 2009 6:19am
Quoting oltciter
To be or not to be? ..... break!
Doesnt the fact that at the bottom of that swing low(just before the pin) there seems to be quite a strong support level mean that there is strong possibility that price will go up?
  • #39,405
  • Jul 30, 2009 6:23am Jul 30, 2009 6:23am
Quoting Headless
It's only the protectionist policies of the US and EU that make it expensive. If only they practised what they preached about free markets... everybody could eat quality meat
Oh, that is an old psychological trick they play. In the U.S. you really have corporatism / Mussolini style Fascism, BUT they call it quote unquote "Free Market". That way they can blame "free market" for failure (even though it is really fascism that is failing) and turn around and say, Well we tried the "free market" system and it didn't work so we need to turn towards socialism. Which is a joke as well since the central banks are going to end up owning everything.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #39,406
  • Jul 30, 2009 6:27am Jul 30, 2009 6:27am
Quoting Basber
1.4000 Will Be a Level To Get Worried ... I Don't Like Selling Above Big Round (Psych) Numbers Or Vice Versa.

Regards,
Basber

If 1.4100 holds as resistance and 1.4000 holds as support, something is going to have to give.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #39,407
  • Jul 30, 2009 6:27am Jul 30, 2009 6:27am
Quoting bfd
Doesnt the fact that at the bottom of that swing low(just before the pin) there seems to be quite a strong support level mean that there is strong possibility that price with go up?
I think this 4h movement have an impulsive structure and ,IMO, I will see the wave number five. It is posible to be wrong.
If will go down and will be stop on 1.4000 level , my profit will be about 30 pips, and this is good. A BE position is a good one, a profit position is excellent one! Sorry for my english!
  • #39,408
  • Jul 30, 2009 6:40am Jul 30, 2009 6:40am
Quoting LasVahGoose
If 1.4100 holds as resistance and 1.4000 holds as support, something is going to have to give.
I'm More Bullish With This Pair, As Long As The Bullish Trend Holds.

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #39,409
  • Jul 30, 2009 6:58am Jul 30, 2009 6:58am
While I am waiting for my flight, I was wondering if there were any screen shots or new feature details of the impending MT5? I am hoping they will have dynamic timeframes, and configuable keyboard shortcuts, so I can press a key to remove all objects or apply default template.
I hear and I forget. I see and I remember. I do and I understand.
  • #39,410
  • Jul 30, 2009 7:03am Jul 30, 2009 7:03am
Quoting tac
While I am waiting for my flight, I was wondering if there were any screen shots or new feature details of the impending MT5? I am hoping they will have dynamic timeframes, and configuable keyboard shortcuts, so I can press a key to remove all objects or apply default template.
http://metatrader5.blogspot.com/2009...nal-first.html


High performance and outstanding working speed;
- 3 chart-types, 21 timeframes and over 70 analytical tools;
- 5 order types and 4 execution modes available for trading;
- trading operations on different markets (forex, options, futures and stocks);
- Advanced built-in reports on all trading activities;
- MQL5 development environment with new IntellySence system and more advanced strategy tester.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #39,411
  • Jul 30, 2009 7:11am Jul 30, 2009 7:11am
Quoting LasVahGoose
http://metatrader5.blogspot.com/2009...nal-first.html


High performance and outstanding working speed;
- 3 chart-types, 21 timeframes and over 70 analytical tools;
- 5 order types and 4 execution modes available for trading;
- trading operations on different markets (forex, options, futures and stocks);
- Advanced built-in reports on all trading activities;
- MQL5 development environment with new IntellySence system and more advanced strategy tester.
21 timeframes, excellent,
1,2,3,4,5,6,10,12,15,20,30 mins = 11
1,4 hour = 2
day, week, month = 3

total 16

That leaves 5 hmmm wonder what they are. Hopefully 2 hour 8 hour and 2 day are there.
I hear and I forget. I see and I remember. I do and I understand.
  • #39,412
  • Jul 30, 2009 7:14am Jul 30, 2009 7:14am
Quoting LasVahGoose
Oh, that is an old psychological trick they play. In the U.S. you really have corporatism / Mussolini style Fascism, BUT they call it quote unquote "Free Market". That way they can blame "free market" for failure (even though it is really fascism that is failing) and turn around and say, Well we tried the "free market" system and it didn't work so we need to turn towards socialism. Which is a joke as well since the central banks are going to end up owning everything.
  • #39,413
  • Jul 30, 2009 7:25am Jul 30, 2009 7:25am
Quoting jarroo
Ryanmcd would be proud. PB with the trend. Oh yeah. lol

Hey Jarroo,

You're chart is so clean, do you use anything besides the bars and Horizontal SR? MA's , divergence, trendlines, fibs?
I hear and I forget. I see and I remember. I do and I understand.
  • #39,414
  • Jul 30, 2009 7:34am Jul 30, 2009 7:34am
Hello everyone,

Still relatively new to the James16 method.

Would appreciate some comments on this signal please.

Space, Shape and Location look fine to me.
Nice shooting star w long rejection tail off mR1 @ a swing high.
(would be better if it was a red shooting star yes)

Was wondering about the trade management.
Thought it might decline abit more, but today's bounce off PPZ was quite big.

Could I get comments from you guys on how you would have managed the trade?

My train of thought was taking partial profits @ PPZ 1 which it hit and bounced off today.
But the bounce was rather solid.

Thought the drop might have been bigger though...

Would appreciate comments and feedback from your experiences please.

Thanks alot guys

AUDUSD Daily.
Attached Image
One Mind, Any Market
  • #39,415
  • Jul 30, 2009 7:50am Jul 30, 2009 7:50am
Quoting Cyrus
Hello everyone,

Still relatively new to the James16 method.

Would appreciate some comments on this signal please.

Space, Shape and Location look fine to me.
Nice shooting star w long rejection tail off mR1 @ a swing high.
(would be better if it was a red shooting star yes)

Was wondering about the trade management.
Thought it might decline abit more, but today's bounce off PPZ was quite big.

Could I get comments from you guys on how you would have managed the trade?

My train of thought was taking partial profits @ PPZ 1 which it hit...
Hi Cyrus,

I'd have done exactly the same thing as you.

You managed it right for a trade that had a area to get through, IMO. You knew exactly where there would be trouble.

Quote
Thought the drop might have been bigger though...

You have to keep in mind that you can't know which trades are going to be big winners and which ones small winners. So don't beat yourself up in any way about this one not hitting the mother load or whatever. Just grind away like that and you'll catch some great movers some times as well.

,B
Bundy's status today: "Waiting..."
  • #39,416
  • Jul 30, 2009 7:58am Jul 30, 2009 7:58am
This is my trade on eurusd 4h and 8h charts!
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  • #39,417
  • Jul 30, 2009 8:00am Jul 30, 2009 8:00am
Cyrus,
looking exclusively at your chart, it looks traffick-y.
depending on how many were your positions in it, u can take partial or full profits on the first hurdle.
your train of thought ("taking partial profits @ PPZ 1") is 1 way of doing it. if this were the case, u can immediately put remaining position/s on BE, or alternatively leave your stop behind the PA (the PB in this particular case) if u think it's necessary.


Refer to James16 this is Critical:
THIS IS CRITICAL.
WE MUST LEARN TO:
1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
  • #39,418
  • Jul 30, 2009 8:03am Jul 30, 2009 8:03am
good timing...

bundyraider,
i was going to say earlier today that i like your new avatar better.
& "nice" picture here. hahah
  • #39,419
  • Jul 30, 2009 8:06am Jul 30, 2009 8:06am
Quoting LasVahGoose
Jim holding the 'crystal ball'
Catching up -

I always fancied a light in his hand...
I'm pretty much done with all this ...
  • #39,420
  • Jul 30, 2009 8:17am Jul 30, 2009 8:17am
Quoting supremeChaos
good timing...

bundyraider,
i was going to say earlier today that i like your new avatar better.
& "nice" picture here. hahah
Yeah, now that I know James uses the avatars to get his bearings I think I could have some fun changing them up more often.
Bundy's status today: "Waiting..."
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