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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

  • #39,441
  • Jul 30, 2009 10:08am Jul 30, 2009 10:08am
It is both about what the market do, and what I want. If I don't want to trade, I would not be here.

Cheers,

Quoting oltciter
Is not about what we want.Is about what market do! It took me some time to understand that!
  • #39,442
  • Jul 30, 2009 10:09am Jul 30, 2009 10:09am
Quoting layton
Yep, sorry I should've rephrased that.
I totally agree with you. Just wanted to post that to show how blessed I am to have found this thread.
we know better.
layton,
no sorry needed.

oh... i think u meant to say "interesting article" in a sarcastic way...

well, traders like us here have Dreams.
we want to take charge of our finances
we want to take charge of our lives.
we want Financial Freedom.

Finding & reading this thread is SUCCESSFUL step #1.
Applying the james16 method is SUCCESSFUL step #2.
Applying the james16 method consistently is SUCCESSFUL step #3.
(step 2 & 3 can be combined/intertwined)

all traders on step #1 are already winners. All they have to do is "actuate (put into practice - demo &/or real account) their winnability" by going through step #2 onwards...
Just like athletes: athletes visualize in their minds what they have to do & what it takes to win. then they execute it via action/repeated practice

in other shorter words:
Visualization (james16 method) [then] Action (putting j16 method into practice)
OR
Visual (james16 method) [then] Concrete (using j16 method, leading to future profits)
OR
Idea (james16 method) [then] Effort (using j16 method)

I bet i rambled again, but i hope i made some sense
  • #39,443
  • Jul 30, 2009 10:19am Jul 30, 2009 10:19am
Quoting ghous
I am kicking myself for getting out prematurely, I was done for the month when this trade opp came about and although no initial plans of doing so I happened to trail the SL far too tight...

Still managed some 90 good pips bonus on this one. the entry trigger was all that I said in the quoted post and the actual entry was taken on the close of the doji from the previous week. (somewhat a blind trade)

PA is still the king and goes beyond well beyond a few bars and their looks.

Ghous.

I am trailing this one too.
lets see how todays bar closes. looking for a target of 82..
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  • #39,444
  • Jul 30, 2009 10:22am Jul 30, 2009 10:22am
Thanks Supreme,

Makes perfect sense.



Quoting supremeChaos
layton,
no sorry needed.

oh... i think u meant to say "interesting article" in a sarcastic way...

well, traders like us here have Dreams.
we want to take charge of our finances
we want to take charge of our lives.
we want Financial Freedom.

Finding & reading this thread is SUCCESSFUL step #1.
Applying the james16 method is SUCCESSFUL step #2.
Applying the james16 method consistently is SUCCESSFUL step #3.
(step 2 & 3 can be combined/intertwined)

all traders on step #1 are already winners. All they have to do is "actuate...
  • #39,445
  • Jul 30, 2009 10:25am Jul 30, 2009 10:25am
Quoting Jazflyer
Here's the chart.
Jaz asked me to comment on this I must have missed it.

Although The channel is good for a breakout, I would never just play a pure sell of it. This to me is just to open for anything and more flipping a coin. I would prefer to use my skills of pa analysis s/r etc to determine an entry on a breakout. I do this by waiting for a pullback to the former breakout area. So if we used the daily as the base of the channel I then drop down to the 1hr, and 4hr and watch for the breakout and pullback, and at the pullback confirming PA. This is nearly the only was I trade breakouts. The only time I trade a pure break is on multiple bar highs or lows.

So this one pulled back slightly but not enough to the former support of the trendline area for a retest. This trade did work out nice for you though so kudos. Easy target or breakeven area the clear round number at .8500

Hope that helps sorry for missing your post

Mike
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  • #39,446
  • Jul 30, 2009 10:29am Jul 30, 2009 10:29am
Quoting kk007
I am using H1 chart. Don't know what I can learn from this experience. Perhaps, learn to accept loss again.

Cheers,
You Should Find It Out Yourself. Maybe That's It

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #39,447
  • Jul 30, 2009 10:31am Jul 30, 2009 10:31am
Quoting jarroo
The size was too small compared to the strong move down. Also, playing iinto a some traffic on the left. To fight through that traffic, would like to have a bigger size (longer nose).

Many times Price Action will cut through a lot of traffic, if the size and supporting confluences have strength.
This made me so happy to see posted, although no surprise it was from you lol

Remember Jims chart about a poodle pinbar, and a pitbull pinbar. You need a pitbull to be able to fight off a strong move. The poodles work nicely in choppy markets. I run with the pitbulls
  • #39,448
  • Jul 30, 2009 10:36am Jul 30, 2009 10:36am
Hey Cyrus

You are new to this stuff, and you nailed it that perfect? Man you are going to have no problems, just a matter of time and gaining that experience. Once you are able to effectively spot these areas, then it just becomes understanding yourself and what is comfortable. Most people are maybe partial off there stop to b/e. Others stop to b/e see if it breaks etc.

Well done man, really. If that doesn't put a smile on Jims face then I don't know what would

Mike

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...
  • #39,449
  • Jul 30, 2009 10:39am Jul 30, 2009 10:39am
Currently watching this one for 1pm close...
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  • #39,450
  • Jul 30, 2009 11:01am Jul 30, 2009 11:01am
Quoting mbqb11
This made me so happy to see posted, although no surprise it was from you lol

Remember Jims chart about a poodle pinbar, and a pitbull pinbar. You need a pitbull to be able to fight off a strong move. The poodles work nicely in choppy markets. I run with the pitbulls
Hi Mike,
About This PB ... I Don't Want To Take It, I Just Want To Know Your Comment On This

P.S. : Both U/CHF And G/U Have Same Direction PinBars. I Don't Like This Situations. But U/CHF Is Looking Good To Me

EDIT : It Doesn't Look PB To Me Anymore For GU And U/CHF And The Candle Closes.

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #39,451
  • Jul 30, 2009 11:02am Jul 30, 2009 11:02am
Quoting mbqb11
Jaz asked me to comment on this I must have missed it.
Although The channel is good for a breakout........
So this one pulled back slightly but not enough to the former support of the trendline area for a retest. This trade did work out nice for you though so kudos. Easy target or breakeven area the clear round number at .8500
....
Mike,
how about the (minor) PPZ around 0.8570-80? does it suit your eye's attention? this PPZ (chocolate color) goes back to June3, or even way back to Nov25'08. it's visible in H4 & Daily chart. price formed a small PB off of that PPZ (& short of the 0.86round number), heralding the eventual (almost 100-pip) move down.

btw, what timezone is MT4NF? these charts are AFB MT4 (similar to FXPro, GMT + 3)
I asked because i noticed the difference between the two MT4's with regards the lower pink line/channel. MT4NF's pink line is quite far from the price, while AFB's pink line skewered price around the PPZ.

thanks!
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  • #39,452
  • Jul 30, 2009 11:04am Jul 30, 2009 11:04am
Quoting Basber
Hi Mike,
About This PB ... I Don't Want To Take It, I Just Want To Know Your Comment On This

P.S. : Both U/CHF And G/U Have Same Direction PinBars. I Don't Like This Situations. But U/CHF Is Looking Good To Me

Regards,
Basber
Hey Basber, not enough confluence there for me to take it along with the size. Had this been running through .8500 it would have been worth a shot , but just not quite there, seems a large amount of order came in just before it.

Best
Mike
  • #39,453
  • Jul 30, 2009 11:06am Jul 30, 2009 11:06am
hey basber im watching that one too seems to have a little space but not much confluence. the low is a nice round number .8500

nice long nose though. ill just watch see what happens
  • #39,454
  • Edited 11:12am Jul 30, 2009 11:06am | Edited 11:12am
Quoting supremeChaos
Mike,
how about the (minor) PPZ around 0.8570-80? does it suit your eye's attention? this PPZ (chocolate color) goes back to June3, or even way back to Nov25'08. it's visible in H4 & Daily chart. price formed a small PB off of that PPZ (& short of the 0.86round number), heralding the eventual (almost 100-pip) move down.

btw, what timezone is MT4NF? these charts are AFB MT4 (similar to FXPro, GMT + 3)
I asked because i noticed the difference between the two MT4's with regards the lower pink line/channel. MT4NF's pink line is quite far from the price,...
Hey Supreme

Yes the concept is the same, just in your case you are using the PPZ. I prefer to only trade very clear nice PA off PPZ areas, and with breakouts the pattern must be a clear pattern(easily recognizable for all, even the daily channel didn't quite wet my lips enough). With breakout trades, on the pullback I will take less optimal bars then you might be lead on to believe I only take.

As for mt4, sorry not a clue! I only know the US eastern times my charts close.

Best
Mike
  • #39,455
  • Jul 30, 2009 11:31am Jul 30, 2009 11:31am
mbqb11,
aha... got ya! so there is "still" something u dont know about
kidding aside, what is the exact time now (in HH:MM) in your MT4NF mt4?

Quote
So this one pulled back slightly but not enough to the former support of the trendline area for a retest.
i think what i meant to ask was, with or without the knowledge of that PPZ (assuming u approve the PPZ's validity), u would still not short it there (via the small PB off the chocolate PPZ ---a short based on a break & retest of that PPZ)? u still want a short off of your blue box area (trendline retest)?
Thanks!
  • #39,456
  • Jul 30, 2009 11:33am Jul 30, 2009 11:33am
Quoting supremeChaos
mbqb11,
aha... got ya! so there is "still" something u dont know about
kidding aside, what is the exact time now (in HH:MM) in your MT4NF mt4?


i think what i meant to ask was, with or without the knowledge of that PPZ (assuming u approve the PPZ's validity), u would still not short it there (via the small PB off the chocolate PPZ ---a short based on a break & retest of that PPZ)? u still want a short off of your blue box area (trendline retest)?
Thanks!
Right now NF is at the 19:00 bar

And yes everything in my trading is kept separate. My intraday is different then my daily/weekly, which is different then my breakout trading, etc. It is how I keep things structured and stay discipline for myself

Best
Mike
  • #39,457
  • Jul 30, 2009 11:38am Jul 30, 2009 11:38am
Quoting johnnykanoo
hey basber im watching that one too seems to have a little space but not much confluence. the low is a nice round number .8500

nice long nose though. ill just watch see what happens
There Is 2 Reasons Besides What Mike Said That I Like To Not Trade This PB :
1) It's MidDay In US Session, So Volatility Going To Decrease And It Will Become Much More Unreliable During Asia Session, Specially In This Situation That It's Not A Perfect Setup. I Took Perfect PBs Anytime But Not This One.

2)
Quoting LasVahGoose
16:00 GMT is the last hour of the London session (IBFX), so you could also have had the London day traders closing out their shorts at the end of the session, which means lots of buying. I see pinbars form at the end of sessions a lot. But this is still a pretty weak observation. We can try and figure out 'why' all day long since nothing will be 100%
I Believe In It Too. I Think Like Mike Said There Was a Huge Order Execution In Previous Bars And I Think That Close Their Position Because Of Two Things :
A) End Of UK Session (Like LasVahGoose Said)
B) Round Number 0.8500

So I Don't Think Big Boys Are Trying To Push It Up, They Are Trying To Save Their Pips. So Instead Of Opening New Buy Positions, I Think There Are Moslty Closing Their Sell Positions.

Anyway, It's Just My Opinion And That's Why I Would Step Aside. Maybe It'll Go Up, But I Will Not Regret It

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #39,458
  • Jul 30, 2009 11:43am Jul 30, 2009 11:43am
nice look to this one...
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  • #39,459
  • Jul 30, 2009 11:52am Jul 30, 2009 11:52am
Pretty sharp stuff Basber.

From a chart perspective, there is a well formed and tested PPZ at 8550 as well. I have no idea what this bar may do, but I know a bad opportunity when I see one.


Quoting Basber
There Is 2 Reasons Besides What Mike Said That I Like To Not Trade This PB :
1) It's MidDay In US Session, So Volatility Going To Decrease And It Will Become Much More Unreliable During Asia Session, Specially In This Situation That It's Not A Perfect Setup. I Took Perfect PBs Anytime But Not This One.

2)


I Believe In It Too. I Think Like Mike Said There Was a Huge Order Execution In Previous Bars And I Think That Close Their Position Because Of Two Things :
A) End Of UK Session (Like LasVahGoose Said)
B) Round Number 0.8500

So...
I'm pretty much done with all this ...
  • #39,460
  • Jul 30, 2009 11:52am Jul 30, 2009 11:52am
Ahhhh...USDCHF...that is a pretty bar in 9 minutes
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