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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

  • #43,881
  • Sep 16, 2009 12:27pm Sep 16, 2009 12:27pm
Was messing around with this chart last night, woke up to this:


might be on to something....
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  • #43,882
  • Sep 16, 2009 12:33pm Sep 16, 2009 12:33pm
Quoting Icehocey77
Was messing around with this chart last night, woke up to this:


might be on to something....
OK - Please dumb this down for me. On what?
I'm pretty much done with all this ...
  • #43,883
  • Sep 16, 2009 12:43pm Sep 16, 2009 12:43pm
Quoting supermatt
hey I was eyeing off this cad jpy aswell.
I agree, perhaps the pin couldve closed further into the previous candles body but it is longest and cleanest pin I have seen for a while.
may have to manage this one tightly seems a few potential trouble spots are lurking not to far away
Rikrok and Supermatt,
You guys still in this? How did/are you managing it? Today's pullback was a bit frustrating, but got out near current high of the day an hour ago. (No, I didn't have a crystal ball, just had my target set at 2R, with initial risk 1/2 of bar height.)

Finally a winner on a daily trade. Only 5 trades on daily/weekly since 8/1/09... 2L, 2b/e, 1W. Could we be starting some trending markets in more pairs now?...maybe.

- Patience. Perseverance. Commit to my goals.

Josh
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  • #43,884
  • Sep 16, 2009 12:51pm Sep 16, 2009 12:51pm
Agree on that, have taken 0 trades so far.

Quoting Ryanmcd
on this weeks market action on the 5min... Please see attached chart.
  • #43,885
  • Sep 16, 2009 1:12pm Sep 16, 2009 1:12pm
Tempting, but where is price going? Nowhere. I knew that!

P
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  • #43,886
  • Sep 16, 2009 1:35pm Sep 16, 2009 1:35pm
Quoting Primi
Tempting, but where is price going? Nowhere. I knew that!

P
EXACTLY. Nice call.

What was once support, very often becomes resistance. Since we know that, why throw your cash away?
I'm pretty much done with all this ...
  • #43,887
  • Sep 16, 2009 1:46pm Sep 16, 2009 1:46pm
Finally the breakout of this figure happened.
My idea is to wait for a pullback towards 0.8825 zone in minor time frame and then go long...
Is it correct? I'm asking it to the breakout trades' gurus or everyone who wants to answer me..!
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  • #43,888
  • Sep 16, 2009 2:30pm Sep 16, 2009 2:30pm
Quoting Jduester
Rikrok and Supermatt,
You guys still in this? How did/are you managing it? Today's pullback was a bit frustrating, but got out near current high of the day an hour ago. (No, I didn't have a crystal ball, just had my target set at 2R, with initial risk 1/2 of bar height.)

Finally a winner on a daily trade. Only 5 trades on daily/weekly since 8/1/09... 2L, 2b/e, 1W. Could we be starting some trending markets in more pairs now?...maybe.

- Patience. Perseverance. Commit to my goals.

Josh
This here was a great trade, I love your trade management strategy.

Awesome stuff bro !
  • #43,889
  • Sep 16, 2009 2:39pm Sep 16, 2009 2:39pm
Quoting StoragePro
OK - Please dumb this down for me. On what?
just playing some racman retraces, lightbulbs are starting to come on. Scary how well they work.....now just need to figure out a good S/L method and I'll be in business.
  • #43,890
  • Sep 16, 2009 2:45pm Sep 16, 2009 2:45pm
Hi,

What are these lightbulbs ? Is that a PA pattern
  • #43,891
  • Sep 16, 2009 2:53pm Sep 16, 2009 2:53pm
Quoting tradertt
Errr QUESTION (Hands up)

What is the Break and What is the trigger?
Thought the trigger point was the break?

Or after typing this sentence a thought came to my mind,

Trigger = 5 - 10 pips below the break for a sell

Is it?
Quoting TiaForex
I'm not Jarroo (but I play him on tv)

I assume he means that the trigger is the low/high of the actual bar that triggered the trade, whereas the break is the entry point of the trade. Meaning that depending on your buffer when price turns around to retest, it is retesting the low/high of the trigger bar. Price doesn't care about where your entry is, but the high/low of the trigger can act as an SR level. Which is why it can be a good idea to nestle your stop a little behind break even.

Hope that helps,

Aaron
Quoting tradertt
Is it the opposite?
lol Good one Tia.


Yeah Tia, I have the Trigger as your order and the Break as the High/Low of the PA setup. Your reasoning is dead on, which is that Price will retest the Break of the setup and bypass your entry (Trigger). Having your stop behind the break (or behind the bar that breaks) can give a little more room to confirm your setup.
Indicators show the past. Price Action "Indicates" the future.
  • #43,892
  • Sep 16, 2009 2:57pm Sep 16, 2009 2:57pm
Quoting atton
Hi,

What are these lightbulbs ? Is that a PA pattern
hehe

People just mean the lightbulbs coming on in their heads that they are beginning to understand things better

Mike
  • #43,893
  • Sep 16, 2009 2:58pm Sep 16, 2009 2:58pm
Quoting Icehocey77
Was messing around with this chart last night, woke up to this:


might be on to something....
Quoting Icehocey77
just playing some racman retraces, lightbulbs are starting to come on. Scary how well they work.....now just need to figure out a good S/L method and I'll be in business.


Quoting raczekfx


PA of solid PPZ and fibs confl and lift off...?
And so on, and so....
Confluence is a beautiful thing . . . . the more the merrier. A little practise on fine tuning and you'll get there.
Indicators show the past. Price Action "Indicates" the future.
  • #43,894
  • Sep 16, 2009 3:06pm Sep 16, 2009 3:06pm
Quoting mbqb11
hehe

People just mean the lightbulbs coming on in their heads that they are beginning to understand things better

Mike

Mike is the electrician that helps make these lightbulbs glow.
Indicators show the past. Price Action "Indicates" the future.
  • #43,895
  • Sep 16, 2009 3:08pm Sep 16, 2009 3:08pm
Quoting jarroo
Mike is the electrician that helps make these lightbulbs glow.
How many j16ers does it take to screw in a lightbulb?
  • #43,896
  • Sep 16, 2009 3:19pm Sep 16, 2009 3:19pm
Quoting mbqb11
How many j16ers does it take to screw in a lightbulb?
How many are looking at the thread when the light bulb goes out?
I'm pretty much done with all this ...
  • #43,897
  • Sep 16, 2009 3:25pm Sep 16, 2009 3:25pm
Quoting mbqb11
How many j16ers does it take to screw in a lightbulb?

I give up . . . I'll think of something. lol
Indicators show the past. Price Action "Indicates" the future.
  • #43,898
  • Sep 16, 2009 3:29pm Sep 16, 2009 3:29pm
Almost two hours of new guest videos are now available on the site.

1. A webinar excerpt from 8/31/09 from Mbqb11.

2. An hour and a half video from James16 titled Rants and charts - A closer look at what we do.

I think you will enjoy both.

jim
  • #43,899
  • Sep 16, 2009 3:29pm Sep 16, 2009 3:29pm
Stupid me
Ok but nowadays you can never know what some words mean in the real life.
  • #43,900
  • Sep 16, 2009 3:35pm Sep 16, 2009 3:35pm
Quoting Jduester
Rikrok and Supermatt,
You guys still in this? How did/are you managing it? Today's pullback was a bit frustrating, but got out near current high of the day an hour ago. (No, I didn't have a crystal ball, just had my target set at 2R, with initial risk 1/2 of bar height.)

Finally a winner on a daily trade. Only 5 trades on daily/weekly since 8/1/09... 2L, 2b/e, 1W. Could we be starting some trending markets in more pairs now?...maybe.

- Patience. Perseverance. Commit to my goals.

Josh
Josh,

I am still in this trade.

Entry at 84.10

Moved stop to BE once it broke through the 84.50 trouble area. If today closes above 85, I will move my stop under 85 to lock in profit. My target is 85.80.

Ross
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