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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

  • #41,781
  • Aug 22, 2009 7:28pm Aug 22, 2009 7:28pm
well lets say a good five this year anyway.

i wont know for sure until they have all hatched.

stay tuned.

lol.

jim



Quoting TiaForex
Hi Jim,

Are you still planning on posting those pictures of the thing you do that gives you six figures a year and is 80% passive? I've been wondering about that all week.

Pretty please?
  • #41,782
  • Aug 22, 2009 7:48pm Aug 22, 2009 7:48pm
Quoting james16
well lets say a good five this year anyway.

i wont know for sure until they have all hatched.

stay tuned.

lol.

jim
You big tease

  • #41,783
  • Aug 22, 2009 7:52pm Aug 22, 2009 7:52pm
Check post 18415 Tia
Page 1228
  • #41,784
  • Aug 22, 2009 7:59pm Aug 22, 2009 7:59pm
[quote=james16;2979407]i can testify to this.

your a lot like me.

i drive a lot of people nuts.

just recently i contacted a physics professor at cal berkley because of something he wrote about pulsars/ astrophysics. this is another one of my hobbies. ive had telescopes so big it required two people to set it up.

took me 3 weeks to get thru to him and he flat could not believe i was some 50 year old guy in texas reading an obscure paper he wrote 3 years ago.

ive called him 3 times now and i can tell by his voice he thinks im a stalker or something. lol.

i could care less if he likes me or not im trying to understand something im interested in.

its in his brain and damned if im going to give up until i get it out and understand it.

thought you might like that story sto.

jim


Jim,
Anyway you could post the article you are talking about?I myself am very interested in these things.I remember the times when I was about 12-13 years camping out in the back yard looking up at the night sky,asking myself where does space end?Kinda gets the brain hurting....I like that though,maybe that is why I am trying to learn how to trade.LOL.Have a great weekend!!
  • #41,785
  • Aug 22, 2009 8:08pm Aug 22, 2009 8:08pm
Quoting Im4age
Check post 18415 Tia
Page 1228
Wow. That cat is out the bag (and at risk of being eaten too by the looks of things).
  • #41,786
  • Aug 22, 2009 8:38pm Aug 22, 2009 8:38pm
Quoting Im4age
Check post 18415 Tia
Page 1228
Like a detective....Or a great memory
  • #41,787
  • Aug 22, 2009 9:33pm Aug 22, 2009 9:33pm
very good.

i had forgotten about that post.

jim


Quoting Im4age
Check post 18415 Tia
Page 1228
  • #41,788
  • Aug 22, 2009 9:45pm Aug 22, 2009 9:45pm
Quoting james16
very good.
i had forgotten about that post.
...
same here.. Amnesia almost had me there.
Thanks for refreshing us, Im4age
  • #41,789
  • Aug 22, 2009 10:03pm Aug 22, 2009 10:03pm
Quoting benji533
.....I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
16y.o.?! Great revelation!
hey, i think u know that not all MLMs are fake schemes. btw, who's Johnny?

I find it uber-amazing a 16y.o. is trading amongst us! no wonder u are a fast learner! u are a sponge since i think u have not been "tainted" yet, trading-wise... U started with the correct foot with the james16 thread!!!!

Now, let's have another lurker reveal to us that he/she's 13 or even 10y.o.
  • #41,790
  • Aug 22, 2009 10:16pm Aug 22, 2009 10:16pm
Quoting benji533
Hey Mike,

Personally I play less attention to round numbers (every 100 pips) on daily and weekly simply because I have noticed they do not really have any dramatic effect on the price.
Most of the time weekly and daily pin bars will be working also without looking at location.
On the other hand, I can see ton of PA setups on the 1H which do not work.

Ben
Quoting StoragePro
Yes - until you have existing confluence as at these round numbers. Confluence is the key - right? Most round numbers don't matter - until they do... ;-)

Great posts Ben and SP.

Many things in these posts to discuss, but SP's point of confluences, as he said, "is the key". Especailly when trading on the lower time frames, which I define as the 4 Hour and Hourly.

Which bring me to fxvision's post:

Quoting fxvision
Anyone trading EUR/JPY to the long side these days?

Long myself from the 133 area from smaller TF.
Not sure on his long entry from a smaller time frame, but I got a pretty good quess.

Its been talked about many times on the thread, that if one wants to venture down to the lower time frames (4H, 1H) their locational search should be at the higher time frame PPZ levels with supporting confluences.

The Eur/Jpy (thanks fxvision);

133.00 is a very clear and strong PPZ level. Check the 133.00 on th Daily/Weekly in 2003, 2004 and 2005.

Did the 133.00 RN form the PPZ level or did the PPZ level form at the 133.00 RN? Mike and Joel give great insight on these Round Number situations. Here is mine: Who cares. lol (no disrespect here. )
As long as I understand that it is there, its all I need.

Now add the 50% retracement from the last move up, the 150 ema and you got yourself a very strong location. The added confluences to the RN and PPZ level gives it strength, as SP was saying.

Now let's move to the lower time frames at this great location. . . .
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy daily 133.00.gif Size: 25 KB
Indicators show the past. Price Action "Indicates" the future.
  • #41,791
  • Aug 22, 2009 10:42pm Aug 22, 2009 10:42pm
Quoting nuclear62
Hello all, have a great weekend!
I just had to post because i´m so with you benji, i started 15 years old and i´m now 17, fantastic....
nuclear62,
same goes for u... Fantastic age to trade/learn trading!!


Quoting Bocajunior
Big hello to all here,
I've been a long time lurker and I guess its out of order that I have taken so long to actually make a post. This is a great thread and it is only in the last few months that I feel I have actually got anywhere as a trader, despite being trading for almost three years now. Hope to be a regular contributer here from now on.....
Big hello too.
will be looking forward to your contributions.


Quoting Radsson
Just don't forget about girls and other stuff called real life
I personally believe we get to live the "real life" more once we attain financial freedom earlier in life.
though it is not for many (as many will easily quit), I believe trading is 1 path , 1 of the quickest paths, to financial freedom.


To the younger ones, think about this:
after school (high school or college), do u want to get a measly &/or "high" paying job & work 10-20hrs a day, for 10-40yrs like that? yes, with a job, u get monthly salary, from Month 1 of the job...
OR
after school, practice/demo trade for 1-5yrs (learning curve-dependent), reduce your time out with friends etc & focus on demoing instead, then right after demoing, go live trading & (u dont earn right away like in an employment situation but u) slowly reap the profits & eventually "live the real life" earlier & better than most humans? btw, the profits u get takes u 1-5x faster (time & amount-wise) than the employees take &get.

This is just 1 way of looking at it. I personally hate the rat race, so much so i did not participate in it. of course it's a different topic if a person trades & still have a job/business on the side, specially if he/she is passionate of that job/business..
  • #41,792
  • Edited Aug 23, 2009 3:17am Aug 22, 2009 10:43pm | Edited Aug 23, 2009 3:17am
Quoting jarroo
Now let's move to the lower time frames at this great location. . . .
No definable Price Action formations on this feed, on the 4 hour chart. I would look at different feeds to see if a clearer PA exist. (Blue line represents the Daily 150 ema on the 4 Hour and Hourly).

Remember that different feeds will present Price cut up differently, but the PPZ levels and other confluences will stay the same. ( most of the time.).

On the Hourly, I suspect fxvision took the BUOB. Very Nice.

But as you can see there were many opportunities on these lower time frames once the higher time frame PPZ level with confluences were identified.

Here's another one that is currently on the Eur/Gbp . . . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy 4 hour 133.00.gif Size: 27 KB
Click to Enlarge Name: eurjpy hour 133.00.gif Size: 26 KB
Indicators show the past. Price Action "Indicates" the future.
  • #41,793
  • Aug 22, 2009 10:49pm Aug 22, 2009 10:49pm
Quoting supremeChaos
16y.o.?! Great revelation!
hey, i think u know that not all MLMs are fake schemes. btw, who's Johnny?

I find it uber-amazing a 16y.o. is trading amongst us! no wonder u are a fast learner! u are a sponge since i think u have not been "tainted" yet, trading-wise... U started with the correct foot with the james16 thread!!!!

Now, let's have another lurker reveal to us that he/she's 13 or even 10y.o.

hey, thanks. MLMs are not schemes, they are completely legal. I have been marketing an Israeli lottery company...even done quite well. I was advertising myself and spent time with potential leads over the phone - but guess what....no one in my team worked, and they all just cried that they are loosing money. At a certain point I just couldn't tell people that it worth to join after all the other people loosed their money. I decided to quit during the time I was still making a few buck profit from it each month. It was taking all my time....I hated doing it. Just not fits my personality. I also feel that the people in this business just don't damn care about you. The only thing they see in you is their few monthly bucks if you are in their downline. And at a certain point I saw myself treating others that way.....for what? for a few monthly bucks....
That was the worst experience.

Then came the PONZIs. I'm not sure if you guys are familiar with the whole "industry" of HYIPS and autosurfs. These are program that pay unrealistic ROIs like 144% in 12 days, completely pure PONZIs. The modes of the forums make agreements with the programs admins behind investors backs, push their programs by lies, allow them to have multiple users on forums if they pay them enough, fake registration company documents, sell hacked accounts of payments processors which are similar to PayPal, etc. Just a dirty nasty place to be. I have made also there a few thousands bucks cause I spent time checking out what is going on there....but heck! I want to build something real I can live from in the future without all this crap and illegal stuff. Just before I think 2 months and something I understood what the word "forex" is all about, and I love all the concepts of it. It is diffenitly something that worth the time of learning deeply and building experience over time....even if you don't make a living from it.

That is why I am glad to be here.

Ben
  • #41,794
  • Edited Aug 23, 2009 3:18am Aug 22, 2009 11:00pm | Edited Aug 23, 2009 3:18am
Quoting jarroo
Here's another one that is currently on the Eur/Gbp . . . .
Daily Eur/Gbp.

Nice strong location here. PPZ level at the .8700 RN, 150 ema at a 61.8 fib retracement from the last move down.

4 hour PB. Although the size could be bigger, it has good potential.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp daily 8700.gif Size: 24 KB
Click to Enlarge Name: eurgbp 4 hour 8700.gif Size: 34 KB
Indicators show the past. Price Action "Indicates" the future.
  • #41,795
  • Aug 22, 2009 11:21pm Aug 22, 2009 11:21pm
benji533,
i mean some fake/Ponzi schemes pose as/call themselves MLMs..
yes, i am aware of HYIPs etc but i have not delved into them like u & i think ghous has..

Quote
It is definitely something that worth the time of learning deeply and building experience over time....even if you don't make a living from it.
That is why I am glad to be here.
hey, glad u are here too.
it's like im seeing myself/my twin but doing this FX thing 3-5yrs much earlier (than i actually did).
people like u/us are very few (human population wise).... we take ''something'' serious early on in our life..
I was "introduced" to businesses like MLM in my late teens, forex only in my early 20's... u are very lucky that u are young now yet this is the decade FX was introduced to the "small fish" --- u are simply at the right place at the right time. i hope more people like u (& nuclear62 & other lurker-young traders) get into business/trading early on, so more people/families will prosper & have fruitful lives.

Absorb like a sponge as much as u can (just like what u are doing now) & let's do this for "some" years to come.

Did u notice how good ghous, mike w & mbqb11 are? except for ghous (who is turning 20 next January--- welcome to the "20's club" ghous ), all of them are in their 20's only.
I firmly believe u are (1 of the very few) next in line, sooner or later. Just focus, stay disciplined & patient, give yourself at least 1-5yrs in this endeavor.
  • #41,796
  • Aug 22, 2009 11:24pm Aug 22, 2009 11:24pm
Quoting james16
very good.

i had forgotten about that post.

jim
I for one will never forget that post.

Lemme know if you can ship a couple of those to me here,

We don't get these beauties out here

just a few eery snake charmers selling WC rat snakes with their teeth ripped off with a stick moved swiftly right across their mouths while keeping them shut with the other hand, claimed as being "Charmed" and bites "spiritually effaced of venom"....(jeez, rat snakes aren't even venomous to start with)

Thought you should know this jim

G
I believe . . .
  • #41,797
  • Aug 22, 2009 11:25pm Aug 22, 2009 11:25pm
Quoting jarroo
4 hour PB. Although the size could be bigger, it has good potential.

Quoting james16
If your going to chase every healthy baby antelope that gets within half a
mile your going to starve. ( ie - marginal 4 hour trades etc...etc...)


Jim
Is this 4 Hour PB on the Eur/Gbp a baby antelope with a broken leg, that is blind and stuck in the mud? No.

Maybe a baby antelope with a twisted ankle that needs glasses so I will wait until he's 2 feet away from me. In other words, I will manage it tightly.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #41,798
  • Aug 22, 2009 11:34pm Aug 22, 2009 11:34pm
Quoting supremeChaos
benji533,
i mean some fake/Ponzi schemes pose as/call themselves MLMs..
yes, i am aware of HYIPs etc but i have not delved into them like u & i think ghous has..


hey, glad u are here too.
it's like im seeing myself/my twin but doing this FX thing 3-5yrs much earlier (than i actually did).
people like u/us are very few (human population wise).... we take ''something'' serious early on in our life..
I was "introduced" to businesses like MLM in my late teens, forex only in my early 20's... u are very lucky that u are...
Thank you supreme for this post. I appreciate it
And yea, ghous knows what I am talking about It is encouraging too see where he got to. Great job ghous!

Ben
  • #41,799
  • Aug 22, 2009 11:35pm Aug 22, 2009 11:35pm
Quoting benji533
hey, thanks. MLMs are not schemes, they are completely legal. I have been marketing an Israeli lottery company...even done quite well. I was advertising myself and spent time with potential leads over the phone - but guess what....no one in my team worked, and they all just cried that they are loosing money. At a certain point I just couldn't tell people that it worth to join after all the other people loosed their money. I decided to quit during the time I was still making a few buck profit from it each month. It was taking all my time....I hated...
MLMs sure make money....the problem lies in the fact that it's not for everyone not because they fail to come to terms with the correct mental state or skill or anything...it's just purely for the talented and those naturally good at it.

Not everybody posses the required "convincing power" that you need in this biz, and unfortuntaley no matter how many e-books you read your knowledge will hardly ever influence your success.

A very close friend of mine has his legs in up to 5 different ML and down line building programs and he makes a fortune...a real fortune with them.

HYIPs are illegal, yes. they are ponzis, yes. they are scams, yes. they go down soon, yes. But again I know a few that make a "living" off hyips. One of them tells me the biz is more abt the "feel" and the incorrect/correct decision of entry and exit that determines your success, this he says "is very much like your (that is me) forex trading, where it all just comes down to experience.

Bottom line:

Money is out there, and it really could be at a hand stretch...for ones who know themselves well.

g
I believe . . .
  • #41,800
  • Aug 22, 2009 11:37pm Aug 22, 2009 11:37pm
Quoting jarroo
Is this 4 Hour PB on the Eur/Gbp a baby antelope with a broken leg, that is blind and stuck in the mud? No.
Maybe a baby antelope with a twisted ankle that needs glasses so I will wait until he's 2 feet away from me. In other words, I will manage it tightly.
recently pitbulls were mentioned... now there are cheetahs.
it's great that we have the "domesticated" & the "wild" version. Now, there's no reason for anyone not to understand this stuff as everyone can now relate.

next time, i wont be surprised to see posts like:
"look at this PB. is it a pitbull or a chihuahua? what do u think?"
OR
"that BUOB is not at a great location + it's a healthy antelope. i'm personally a cheetah waiting to pounce at a lower price 1.xxxx if in case that antelope strays that far away down"
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