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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

  • #39,481
  • Jul 30, 2009 3:12pm Jul 30, 2009 3:12pm
diggs is like one of the first out of the womb. mid 04. your the man diggs.

JIM

Quoting diggsnoob
pretty sure i lost all of my posts...haha. i know i had more than this, and it was from the pf.
  • #39,482
  • Jul 30, 2009 3:18pm Jul 30, 2009 3:18pm
Quoting tac
Hey Jarroo,

You're chart is so clean, do you use anything besides the bars and Horizontal SR? MA's , divergence, trendlines, fibs?
Yes, besides PPZs and Bars (Price Action formations), I'll use Fib retracements, 50% retracements, Round Numbers, MACD divergence, long term MAs (365 ema, 150 ema), and sometimes high time frame trendlines.

But that's it. If they don't apply to the trade, I'll take them off so the chart looks a lot clearer.
Indicators show the past. Price Action "Indicates" the future.
  • #39,483
  • Jul 30, 2009 3:25pm Jul 30, 2009 3:25pm
Quoting supremeChaos
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...
I love seeing this. It brought my trading to the next level. Period.
Indicators show the past. Price Action "Indicates" the future.
  • #39,484
  • Jul 30, 2009 3:25pm Jul 30, 2009 3:25pm
Double top. With Divergence. 2 - 4 hr bar's forming the PB. On the 79.0.

Sorta the stuff we want to see?

Sorta - yep.
Attached Image (click to enlarge)
Click to Enlarge Name: aj 7-30 4hr.gif Size: 16 KB
I'm pretty much done with all this ...
  • #39,485
  • Jul 30, 2009 3:27pm Jul 30, 2009 3:27pm
Quoting jarroo
I love seeing this. It brought my trading to the next level. Period.
Supreme noted:

1. notice a strong s/r area just beyond our pa if it exists.

Man, That took over a year and half to sink into my head. I don't know why, it just did.

Life got a lot easier once it did.
I'm pretty much done with all this ...
  • #39,486
  • Jul 30, 2009 3:29pm Jul 30, 2009 3:29pm
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
lol I like the pitbull pinbars in the choppy markets too.
Indicators show the past. Price Action "Indicates" the future.
  • #39,487
  • Jul 30, 2009 3:35pm Jul 30, 2009 3:35pm
hi james i just wanted to add to the pf discussion.

i just started my second month there and there is no question it is well worth it. Its more than a mentorship its like an online family standing ready to show you everything you need to grow into a trader.

your education there can move as slow or as fast as you like it.

there is sections there that cover, psychology and money management. there is tons on technique and how to trade the market. There is tons of video like tiaforex said and webinars.

there is a ton of stuff there.

in the forum section you can ask anybody anything without feeling stupid. there is always guidance support.

In this crazy world of forex there is so many people that are ready to beat you up and take your money wether through trading or through crappy live rooms and crappy course. It is a total breath of fresh air to know that James created this place for us where we can feel safe knowing that all he wants (and all his senior crew) is for us to suceed.
  • #39,488
  • Jul 30, 2009 3:36pm Jul 30, 2009 3:36pm
Quoting mbqb11
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
Yeah it will bring a smile on his face.

Cyrus, being relatively new to J16 and understanding this simple projection of where Price would likely go, after a solid PA setup, I would say your train of thought is right on track.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #39,489
  • Jul 30, 2009 3:38pm Jul 30, 2009 3:38pm
Easy pips on NZDCHF 2day chart? Why not?!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf_d2.png Size: 36 KB
  • #39,490
  • Jul 30, 2009 3:39pm Jul 30, 2009 3:39pm
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...

Wow. Nice charts sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #39,491
  • Jul 30, 2009 3:40pm Jul 30, 2009 3:40pm
Quoting oltciter
Easy pips on NZDCHF 2day chart? Why not?!
Because I don't have it in my bag...

BTW - Nice having you here. I am enjoying your posts and charts!
I'm pretty much done with all this ...
  • #39,492
  • Jul 30, 2009 3:43pm Jul 30, 2009 3:43pm
Quoting StoragePro
Supreme noted:

1. notice a strong s/r area just beyond our pa if it exists.

Man, That took over a year and half to sink into my head. I don't know why, it just did.

Life got a lot easier once it did.

I hear you. lol

I just thought PA would break right throught it and when it didn't, I would "hope" it would come back. I would take a big loss and wonder "why did that happen?" lol
Indicators show the past. Price Action "Indicates" the future.
  • #39,493
  • Jul 30, 2009 3:52pm Jul 30, 2009 3:52pm
Quoting StoragePro
Because I don't have it in my bag...

BTW - Nice having you here. I am enjoying your posts and charts!
Thank you! I'm glad to read that!
  • #39,494
  • Jul 30, 2009 3:56pm Jul 30, 2009 3:56pm
guys i know this is off topic but i need some suggestions for a decent broker. i have ibfx and gft for live accounts.

i stopped tradeing ibfx coz i was ready for a change and i didn't like the 5 decimal thing they are moving into

i have gft with dealbook and hoestly im sick of them.
there reports are hard to read
there charting is a pain in the ass and i cannot save my current layout exactly as i want without it changing something stupid for example the right margin i set to 50 but it always goes back to 3 when i sign on so i can't scroll my charts to the left more than 3 bars lenth.

im just agravated with them yesterday i had set a stop for b/e but it wasn't honered and a winning trade turned into a loser.

any suggestions guys. are you happy with your broker and if so who is it?
thanks, john
  • #39,495
  • Jul 30, 2009 4:00pm Jul 30, 2009 4:00pm
Quoting johnnykanoo
guys i know this is off topic but i need some suggestions for a decent broker....
I'm pretty sure everyone is going to move to 5 decimal and MT5 is on the horizon.

I've only used Oanda and have no complaints, they maybe one of the best in the industry.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #39,496
  • Jul 30, 2009 4:01pm Jul 30, 2009 4:01pm
Quoting bundyraider
Hi Cyrus,

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
Read this every day for a month, Cyrus. I'm going to as well, just because its great.

And don't get cocky when the big runners hit, because they will hit.

(sorry, that last line was for me.)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #39,497
  • Jul 30, 2009 4:02pm Jul 30, 2009 4:02pm
I use Oanda (luv them)
and FXCM, I know many hate fxcm, I have good luck with them, luv there simple trading station for entries.
  • #39,498
  • Jul 30, 2009 4:10pm Jul 30, 2009 4:10pm
thanks for the replys.

is anyone beta testing mt5? when is it due to roll out?

i wouldnt mind learning more about it.

i went to dealbook coz i listened to to many people saying mt4 was amatuerish but in all honestly i like mt4 much better. I hope mt5 isn't totaly different.
  • #39,499
  • Jul 30, 2009 4:18pm Jul 30, 2009 4:18pm
Quoting johnnykanoo
thanks for the replys.

is anyone beta testing mt5? when is it due to roll out?

i wouldnt mind learning more about it.

i went to dealbook coz i listened to to many people saying mt4 was amatuerish but in all honestly i like mt4 much better. I hope mt5 isn't totaly different.
The interface is pretty much the same, but every indicator will need to be rewritten since they won't be compatible.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #39,500
  • Jul 30, 2009 4:19pm Jul 30, 2009 4:19pm
Quoting TiaForex
Just to add one thing on PF:

I am always very cautious when talking about PF and am keen to stress that everything you need is here. That's not because I am ambiguous about PF. As you can tell from what I wrote I think it's superb and the best money I ever spent.

It's more because I don't want someone reading this thread who can't afford PF to think "man all the good stuff is in there, and I can't afford it" This thread isn't a tease for the paid site. Everything you need really is here. It's one of the reasons I admire Jim, he basically gives...

What were you looking at Tia? I'm a lifetime member. LOL

I joined the PF for only a couple of months in 2006. Time, schedules and whatever gave me limited eyes on the computer back then. I remember I was thinking of rejoining again in late 2006 and asked Jim if I should wait until the new website was up to rejoin. He said wait until the new one was up. I never forgot that.
Indicators show the past. Price Action "Indicates" the future.
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