james16 Chart Thread | Page 2032 | 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

  • #40,621
  • Aug 11, 2009 4:18pm Aug 11, 2009 4:18pm
Quoting jarroo
Hey Ben. Just been reading some of your recent post . . . good stuff brother.

Lately I have been plaly the Double Inside Bars as decribed by Dale on this thread and also some I4Bs or I10+Bs. I like more definable PA at these areas instead of IBs. But they are very tradable at the right location and confluence.
ohh well...this one took off eventually...currently +140 pips....never mind, next time

By the way, what is "I10+Bs" ? Can you throw a link please
Thanks mate.

Ben

http://img220.imageshack.us/img220/5044/dugmr2.jpg
  • #40,622
  • Aug 11, 2009 4:19pm Aug 11, 2009 4:19pm
It looks like a big picture and MACD going is a major "no" factor.
I will stand aside as my 4hr charts close at the very odd time. Broker is UK based (Alpari) and the bars are closing GMT+2 instead of GMT+1 (which equals local British Summer Time).

I've bagged some pips on GJ and CJ today and will keep them away form my broker's sticky fingers
  • #40,623
  • Aug 11, 2009 4:22pm Aug 11, 2009 4:22pm
Quoting tradertt
:
1) Traffic (Meaning are we trading into a messy area with lots of highs and lows as taught by Jarroo ie SPACE)
2) Timing - Meaning that if the PA occurs during the mid day of the USA Session, I will not take it cause there isn't much volatility.

Anything I am missing or am wrong? If so, please add on to this post.

It seems there are more and more things to look out for and it may be bringing me to Paralysis

P.S. Thanks to everyone replying to my previous posts. I have glanced through them but had a busy day so no time to delve deeply...
Hang on there tradertt. The "Space" we look for may be explained by me, but its taught by and learned from MIKE (mbqb11).

All that I know and all the successsfull trades that I have had, would not exist if it wasn't for Mike and Jim (James16). Period. Exclamation Point.

Their posts and videos (free ones seen here in the guests section : http://www.james16group.us/ ) should be studied every day.

Have you seen the free videos, tradertt? If you have, how many times have you viewed them? twice, 5 times . . . I suggest at least 12 times . . . . maybe that's just me.

Check them out tradertt. You will be glad you did.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #40,624
  • Aug 11, 2009 4:22pm Aug 11, 2009 4:22pm
Bearish action continues to prevail on Cable. Today we have a DBLLC forming as well as a H&S formation brewing. I feel this will break and have a short order already for the DBLLC.

My TP is 1.6075 area for three congruent reasons:

  1. 73% retrace from June 8th swing low to August 5th swing high (yellow fib)
  2. 1.61 fib extension from the current bearish action (red fib)
  3. 987 pips (fibonacci sequence) from August 5th swing high (blue line)

I recognise the traffic from recent action but feel price action is strong enough to break through.

p.s. been doing well on my demo account recently, up nearly 5% this week. I'm consistently winning more than losing now, which is great. Thanks all.

Attached Image (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 178 KB
The customer is always right!
  • #40,625
  • Aug 11, 2009 4:40pm Aug 11, 2009 4:40pm
could someone be kind enough to tell me what was the entry trigger on the G/J trade? on my daily all there is are huge green and red candles. I couldnt really see a trigger on the daily. On the 4 hour there was a few pins but I dont really trade 4 hour.
  • #40,626
  • Aug 11, 2009 4:42pm Aug 11, 2009 4:42pm
Quoting benji533
Hi tradertt,

The market moves in waves (Google Eliot waves theory). They will always be major waves, and minor waves which are creating the majors.

If you trade a 4H chart, so zoom out (or go to daily) and place the major waves on your screen. I personally trade the daily (also 4H if I'm bored).
The major high and low swings on 4H will me minors on daily and weekly, so it's all comparative.

Now if you trade the 4H swings, you should look for the same confluence factors you have mentioned in your post. Zoom out to daily and weekly to see what...
Hi Ben,

Thanks man....well explained.. i am new to this method too & you guys are great.

Tq
-happyTrading-myFx.
  • #40,627
  • Aug 11, 2009 4:42pm Aug 11, 2009 4:42pm
Quoting benji533
ohh well...this one took off eventually...currently +140 pips....never mind, next time

By the way, what is "I10+Bs" ? Can you throw a link please
Thanks mate.

Ben

Mike and Jim have some good posts on Inside 4 Bars within the thread.
Here's one from Mike, there are many others. http://www.forexfactory.com/showpost...ostcount=15851

An Inside 10+ Bars are just more the 10 bars larger in range then the IB as descrided by a I4B.
Indicators show the past. Price Action "Indicates" the future.
  • #40,628
  • Aug 11, 2009 4:50pm Aug 11, 2009 4:50pm
Quoting Pipfox
Bearish action continues to prevail on Cable. Today we have a DBLLC forming as well as a H&S formation brewing. I feel this will break and have a short order already for the DBLLC.


My TP is 1.6075 area for three congruent reasons:[list=1][*]73% retrace from June 8th swing low to August 5th swing high (yellow fib)[*]1.61 fib extension from the current bearish action (red fib)[*][font=Verdana]987 pips (fibonacci sequence)...
Hiya,
I sold cable last week and will be adding (if when whatever) on a break of the tbl on daily, chart attached. I think we are going to continue down too! Sometimes I feel like my trading has gone soooo simple I really have nothing interesting to add here, so I prefer to lurk. You guys are all so smart!!!
Nothing much happening in Mallorca, just a few bombs here and there!!! lol (ETA means terrorism folks, not separitism)
Attached Image (click to enlarge)
Click to Enlarge Name: cable daily tbl.gif Size: 14 KB
Never say never.
  • #40,629
  • Aug 11, 2009 4:52pm Aug 11, 2009 4:52pm
Quoting myfx
Hi Ben,

Thanks man....well explained.. i am new to this method too & you guys are great.

Tq
You are welcome.
Good to see you here


Quoting jarroo
Mike and Jim have some good posts on Inside 4 Bars within the thread.
Here's one from Mike, there are many others. http://www.forexfactory.com/showpost...ostcount=15851

An Inside 10+ Bars are just more the 10 bars larger in range then the IB as descrided by a I4B.
ohh got it now.
I was familiar with the I4B....but the I10B was strange to me.
Thank you

Ben
  • #40,630
  • Aug 11, 2009 5:00pm Aug 11, 2009 5:00pm
http://www.tripodo.com/gallery/image...d-mallorca.jpg
Quoting razldazl
Hiya,
(ETA means terrorism folks, not separitism)
I had to look that up. Looks like relaxing place to live, other than the mad bombers. Looks like a great place to go for a hike & swim too.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #40,631
  • Aug 11, 2009 5:02pm Aug 11, 2009 5:02pm
Quoting supermatt
could someone be kind enough to tell me what was the entry trigger on the G/J trade? on my daily all there is are huge green and red candles. I couldnt really see a trigger on the daily. On the 4 hour there was a few pins but I dont really trade 4 hour.
Hi supermatt,
On the daily chart, an inside bar breakout formed off resistance which is also a double top now.

Here you go (the red bar is the inside bar - it's low and high are within the previous bar):

http://www.forexfactory.com/%3Ca%20h...nd%20others%21http://img401.imageshack.us/img401/5044/dugmr2.jpg

Ben
  • #40,632
  • Aug 11, 2009 5:10pm Aug 11, 2009 5:10pm
Razl,

I'd be very wary of that 1.6075 mark I pointed out, seems tough to me, but your trade is your trade, just my 2 pence.

Ingles o espanol? como escribas, digo ingles! Uno q busca tiempo/vida mejor?

Nick
The customer is always right!
  • #40,633
  • Aug 11, 2009 5:11pm Aug 11, 2009 5:11pm
cool thanks benji
  • #40,634
  • Aug 11, 2009 5:17pm Aug 11, 2009 5:17pm
Quoting jarroo
Pop goes the weasel. lol

I knew that Cad poodle PB had some strength. The Power of a great location. I've taken some of the table at the 1.0920 area and letting it ride. Now let's get some supportive strength at the 1.1000.
Sorry I can't post charts now

Nice one Mr. Bates.

Jim
Thanks!!....let see how far we can ride this bull....GregB
  • #40,635
  • Aug 11, 2009 5:19pm Aug 11, 2009 5:19pm
Its been a long time since I have visited Majorca, remember it being a beautiful place.

I in no way condone the methods ETA are using for their plight but they have been through some horrible history. Franco allowed Hitler to test the worlds first large scale aerial bombing on the Basques, Guernica, it was absolute hell on earth.

They are one of the few places in Europe that have maintain relative autonomy over their own region, resisting imperialism, the catalans also spring to mind. Did you know that around 100 years ago less than 25% of France actually spoke the French language as we now know it. Cultures such as the Basque's should be celebrated and, in my opinion given the autonomy they require to do this. Again, this does not condone killing innocent people.

A good film on the subject is "El Lobo" (The Wolf).

Nick

p.s. please excuse the off-topic politics, its late and i'm tired!
The customer is always right!
  • #40,636
  • Aug 11, 2009 5:21pm Aug 11, 2009 5:21pm
Quoting benji533
Hi supermatt,
On the daily chart, an inside bar breakout formed off resistance which is also a double top now.

Here you go (the red bar is the inside bar - it's low and high are within the previous bar):



Ben
If you mentally combine those two bars, it forms a PB - perfectly legit - and snazzy at a nice location.

I use them often at lower time frames - 4hr and 1 hr.

I'll have to look one up, but when I get PA at a PPZ, Outside bar, PB, and a IB forms nudged up against the bar showing PA, I use the break of that IB to enter. It does not happen a lot on the dailies, but they are nice when they do.
I'm pretty much done with all this ...
  • #40,637
  • Aug 11, 2009 5:22pm Aug 11, 2009 5:22pm
Quoting supermatt
cool thanks benji
Your welcome.
  • #40,638
  • Aug 11, 2009 5:28pm Aug 11, 2009 5:28pm
Lets not talk about it, it just gets ugly. I shouldnt have mentioned it and as you said its off-topic...english or spanish are both fine! Happy trading all!
Never say never.
  • #40,639
  • Aug 11, 2009 5:30pm Aug 11, 2009 5:30pm
Quoting StoragePro
If you mentally combine those two bars, it forms a PB - perfectly legit - and snazzy at a nice location.

I use them often at lower time frames - 4hr and 1 hr.

I'll have to look one up, but when I get PA at a PPZ, Outside bar, PB, and a IB forms nudged up against the bar showing PA, I use the break of that IB to enter. It does not happen a lot on the dailies, but they are nice when they do.
Hi SP,

Basically all the "patterns" mean the same - That price is rejected.

If you combine DBHLC, DBLHC, BEOB, BUOB, they are all pin bars. They show that price was rejected. Many times you can combine to daily bars, and on 2 days chart you will get a nice pin bar.

That is the reason we need to understand what price is actually telling us, use common sense and not just enter every every bar like a robot.

(I know you know all this far time ago before me....just felt like writing it lol).

Ben
  • #40,640
  • Aug 11, 2009 5:55pm Aug 11, 2009 5:55pm
im keeping my eye on this E/A setup forming. Bullish engulfing or BUOB as you guys put it forming on daily. Seems to be forming of a pretty good support level. 6900 area
Will have to see

only has limited space up. perhaps good for 90 or so pips if it works out.

what do you guys think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 17 KB
Click to Enlarge Name: 1.GIF Size: 14 KB
56 traders viewing now