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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

  • #521
  • Nov 11, 2005 4:18am Nov 11, 2005 4:18am
sorry couldnt resist! jim - your charts are probably the best on this forum (sorry guys)...don't stop posting here!
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  • #522
  • Edited 6:39am Nov 11, 2005 6:25am | Edited 6:39am
note: there is no right hand side probability analysis here

just a one off example:

*edit - there is a near 900 pip pattern height for the teal symmetric triangle from the white dot (jun 05) at the bottom of the chart to the top edge now it has broke near the apex: so that gives an approx 13800 + 900 = 14700 for this pair well into next year. for such a big pattern i just don't know if that might happen though*


http://img363.imageshack.us/img363/3...ekly2lz.th.gif
  • #523
  • Edited 7:50am Nov 11, 2005 7:44am | Edited 7:50am
I'd like to comment on the triangle breakout shown on Jim16's chart above, as I believe it was a perfect triangle breakout pattern setup (I am a big fan of price pattern breakouts - wedges, channels and triangles mostly).

Triangle breaks up, then we have a retracement that cannot push below the high of the last bar within the triangle (bar right before the breakout), where prices bounces vigorously up again.

Target is equal to the triangle width, even though I always play conservative aiming for a 20% shorter move in order to not incur in the risk of missing my target for a mere handful of pips.

Please see picture attached.
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  • #524
  • Nov 13, 2005 6:53pm Nov 13, 2005 6:53pm
Jim and everyone:

Thanks for your combined efforts. I belong to several forums. I've never seen so many folks working together on something like this and I want to be a part of it. I've posted a chart and am integrating what I've learned in this thread to confirm my signals. The 'pins' I noticed in this sell may not be textbook, but they do show selling pressure, which is a good thing when you're short or considering getting short.

Thru
  • #525
  • Nov 13, 2005 6:57pm Nov 13, 2005 6:57pm
The chart.


Thru
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  • #526
  • Nov 13, 2005 8:48pm Nov 13, 2005 8:48pm
Quoting Isotonic
sorry couldnt resist! jim - your charts are probably the best on this forum (sorry guys)...don't stop posting here!
you are a very very smart person iso, far more so than i will ever be.
  • #527
  • Nov 13, 2005 8:49pm Nov 13, 2005 8:49pm
Quoting WTB
I'd like to comment on the triangle breakout shown on Jim16's chart above, as I believe it was a perfect triangle breakout pattern setup (I am a big fan of price pattern breakouts - wedges, channels and triangles mostly).

Triangle breaks up, then we have a retracement that cannot push below the high of the last bar within the triangle (bar right before the breakout), where prices bounces vigorously up again.

Target is equal to the triangle width, even though I always play conservative aiming for a 20% shorter move in order to not incur in the risk of missing my target for a mere handful of pips.

Please see picture attached.
great stuff, i never even noticed the triangle even though i look for them.
  • #528
  • Nov 13, 2005 8:50pm Nov 13, 2005 8:50pm
Quoting Thruline
Jim and everyone:

Thanks for your combined efforts. I belong to several forums. I've never seen so many folks working together on something like this and I want to be a part of it. I've posted a chart and am integrating what I've learned in this thread to confirm my signals. The 'pins' I noticed in this sell may not be textbook, but they do show selling pressure, which is a good thing when you're short or considering getting short.

Thru
welcome thruline, we are glad to have you. jim
  • #529
  • Nov 13, 2005 8:52pm Nov 13, 2005 8:52pm
Quoting Thruline
The chart.


Thru
this is what i like to see. people using price action to augment and improve what they are already doing. jim
  • #530
  • Nov 14, 2005 4:21am Nov 14, 2005 4:21am
thanks for the compliment jim (you're not too bad yourself!)

i personally don't see myself as any better than anybody else here actually. ability or potential is one thing. realising that through hard work and dedication to task is something else. just like any other endeavour i guess.

i think right now FF is the best place to learn trading right now, in a friendly and relaxed environment. lets hope it stays that way!

Quoting james16
you are a very very smart person iso, far more so than i will ever be.
  • #531
  • Nov 14, 2005 7:14pm Nov 14, 2005 7:14pm
this thread is now the most viewed on Forex Factory. I plan to keep it that way even after the pf launch. i am humbled and honored that so many people on so many occassions have thought my stuff worthy enough to take a look. not one time have i ever given a live trading call. what i have done is teach some good stuff and encouraged the reader to investigate and practice some of the information found in this thread. i have literally hundreds of emails saved from people all over the world who have used the concepts in this thread to help thier trading. after the launch of the pf i plan to expand on the information in this thread. just because someone does not want to pay for the help will not stop me from offering help here in this public arena. i will not forget how i got to this point. jim
  • #532
  • Nov 14, 2005 7:28pm Nov 14, 2005 7:28pm
hey jim...are you for real. i have neva seen anyone as good hearted and humble as you. you know so much...and still are humble. man you rock . if there are more people like you in this world....that means all seats in heaven are already reserved.......and me gonna land in hell..cause me not even half as good hearted as you. not good ...but i can live with that...cause i will be buyin my seat in heaven....by donating some money to red cross...once i start making some .


gabroo
and i grow...pip by pip.......pip by pip!!!!
  • #533
  • Nov 14, 2005 7:44pm Nov 14, 2005 7:44pm
Quoting gabroo_munda
hey jim...are you for real. i have neva seen anyone as good hearted and humble as you. you know so much...and still are humble. man you rock . if there are more people like you in this world....that means all seats in heaven are already reserved.......and me gonna land in hell..cause me not even half as good hearted as you. not good ...but i can live with that...cause i will be buyin my seat in heaven....by donating some money to red cross...once i start making some .


gabroo
i always enjoy your posts gabroo. i dont think you have anything to worry about my friend. jim
  • #534
  • Nov 15, 2005 4:06pm Nov 15, 2005 4:06pm
Jim, getting back to your trade on EurJpy. The dashed (sell) lines are red, showing that you moved your stops to breakeven, on both trades. When will you exit this trade? When you see a reversal sign on the weekly, or is that too long.

Thanx
Habeeb
Keeping it Simple
  • #535
  • Nov 15, 2005 8:47pm Nov 15, 2005 8:47pm
Quoting habeeb
Jim, getting back to your trade on EurJpy. The dashed (sell) lines are red, showing that you moved your stops to breakeven, on both trades. When will you exit this trade? When you see a reversal sign on the weekly, or is that too long.

Thanx
Habeeb
the late run up stopped me out late friday. someone commented it looked like stop gunning. i dont know abut that but it sure surprised me. oh well i made some good money on the trade but not as much as i hoped for. jim
  • #536
  • Nov 19, 2005 8:07am Nov 19, 2005 8:07am
James,

Just wanted to thank you again. Your price action teaching has really given direction to my studies. As a newb it has not only propelled me in my understanding of the markets, but also has helped me shape my attitude towards approach to those markets.

Your the best....And thats not easy to say with the company you keep!
HJ

Quoting james16
this thread is now the most viewed on Forex Factory. I plan to keep it that way even after the pf launch. i am humbled and honored that so many people on so many occassions have thought my stuff worthy enough to take a look. not one time have i ever given a live trading call. what i have done is teach some good stuff and encouraged the reader to investigate and practice some of the information found in this thread. i have literally hundreds of emails saved from people all over the world who have used the concepts in this thread to help thier trading. after the launch of the pf i plan to expand on the information in this thread. just because someone does not want to pay for the help will not stop me from offering help here in this public arena. i will not forget how i got to this point. jim
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #537
  • Nov 20, 2005 1:30am Nov 20, 2005 1:30am
This chart should speak for itself.
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  • #538
  • Nov 20, 2005 4:45am Nov 20, 2005 4:45am
Quoting Kosta Berj
This chart should speak for itself.
It's also on the 50 fib line for the big swing starting on the far left of the chart (running from early June to late July).

Also the price area shows resistance in late October early November.

If you look at the intra day chart this fib group has been stalling price upwards for 3 days.

Quack Quack.


P.S. Thanks very much James for the wonderful thread.


Silver
In trading you are only as smart as your dumbest mistake. - Ralph Vince
  • #539
  • Nov 21, 2005 5:04am Nov 21, 2005 5:04am
Check the weekly chart on the usd/chf. It had a weekly pin form. I may be wrong here but I don't think that the eur and usd move in the same direction on the chf and being a weekly pin on the us/chf may seem to swing a heavier bat.
Some additional light on this might help.
I took a short posi on the dollar at 1.3148, sl is now at break even and currently up 40 odd pips (demo of course) exit is at 1.2884.

Cheers Jim,

Ron F.
  • #540
  • Nov 21, 2005 7:24am Nov 21, 2005 7:24am
I agree. The eur/chf is looking very strong but the usd/chf looks like it's reversing. The weekly pin bar just touches the bollinger band, stochs are moving down through 80, as is CCI. MACD histogram is still above the signal line and haven't lowered its pins yet. Several MA's still indicate uptrend but it's a good bet the pair will turn here. I am short from 1.3250. SL moved to 1.3170 (+80 pips).
Always wait for the opportune moment… just be careful not to miss it.
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