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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

  • #44,061
  • Sep 17, 2009 11:38pm Sep 17, 2009 11:38pm
Quoting potato
hey bundy how come u didnt like this trade?
i posted this one a few pages back too.
If the pin was larger (Stronger come-back) , I'd feel better about it pushing through against the trend and against that pink line I drew earlier.

It's not a shit trade, man. I'd just prefer my trades to have an easier path so I can manage it easier.

The target starts getting too close if I try and trade off of a break through that line, which would be one option normally. In the end that is what killed the idea of a trade, for me.

Your target's good, by the way. I'm thinking somewhere around there anyway. Maybe we'll get a good short signal off of there.

See the pink Dot-Dash-Dot line just above my yellow 'X'? ... That's a trend line off of the weekly chart that has been given a good workout. Would not be surprised at all if that's where we'll continue down from later on.
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Bundy's status today: "Waiting..."
  • #44,062
  • Sep 18, 2009 12:17am Sep 18, 2009 12:17am
Quoting bundyraider
If the pin was larger (Stronger come-back)...
See the pink Dot-Dash-Dot line just above my yellow 'X'? ... That's a trend line off of the weekly chart that has been given a good workout. Would not be surprised at all if that's where we'll continue down from later on.
u mean, 1.0750-60-ish area?
on the weekly chart, since May31, price had a hard time breaking down or closing below this area.
if i extend this line backwards, towards Aug2008, or even June2007, it seem to work as PPZ/price flip.

Being aware of the range action on (weekly chart) June-Aug2007 & Aug-mid-Sept2008, let's see if $CAD will range within 1.03 - 1.08 or will it trend upwards/downwards from here on...
  • #44,063
  • Sep 18, 2009 1:35am Sep 18, 2009 1:35am
Hi guys, quick questions here.

How do you guys manage your trade on volatile pairs if you can't be around to monitor it? Do you use trailing stop to move the stop to BE? Or just simply pass the trade?

I was in this GBPJPY trade. The top blue line was my target. The second blue line was the area I noticed where price would get some resistance, 151 level. When price went to 151, I moved my stop to BE manually. Price went down and I got stop out at BE.

I was wondering some people who trade daily and weekly do not watch the screen all day. How do you deal with this situation?
Thanks
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  • #44,064
  • Sep 18, 2009 2:01am Sep 18, 2009 2:01am
Quoting james16
The rants and charts video in the guest area is now working.

jim
I guess everyone hasn't made it through yet the video yet, but this is pure gold. This should be required viewing to anyone new joining the thread. Thanks Jim.
  • #44,065
  • Sep 18, 2009 2:05am Sep 18, 2009 2:05am
thanks ice.

Quoting Icehocey77
I guess everyone hasn't made it through yet the video yet, but this is pure gold. This should be required viewing to anyone new joining the thread. Thanks Jim.
  • #44,066
  • Sep 18, 2009 2:07am Sep 18, 2009 2:07am
thanks so much for posting that in depth vid jim, you go beyond the call of duty but thankyou so much for your knowledge and wisdom
  • #44,067
  • Sep 18, 2009 2:26am Sep 18, 2009 2:26am
my pleasure

Quoting supermatt
thanks so much for posting that in depth vid jim, you go beyond the call of duty but thankyou so much for your knowledge and wisdom
  • #44,068
  • Sep 18, 2009 2:30am Sep 18, 2009 2:30am
Daily PB at UsdCad. But first trouble area is near.
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  • #44,069
  • Sep 18, 2009 2:56am Sep 18, 2009 2:56am
what video are all talking about, i cannot see any new video in the guest area, please post the link anybody
  • #44,070
  • Sep 18, 2009 2:58am Sep 18, 2009 2:58am
Quoting datogio
what video are all talking about, i cannot see any new video in the guest area, please post the link anybody
http://www.james16group.us/Guests/vi...iningvideo.wmv
  • #44,071
  • Sep 18, 2009 3:02am Sep 18, 2009 3:02am
Quoting nasir.khan
http://www.james16group.us/Guests/vi...iningvideo.wmv
thanks nasir
  • #44,072
  • Sep 18, 2009 3:03am Sep 18, 2009 3:03am
nice nasir.

im smiling about my profit for sure. some of it in the bank already.

Quoting nasir.khan
Daily PB at UsdCad. But first trouble area is near.
  • #44,073
  • Sep 18, 2009 3:08am Sep 18, 2009 3:08am
Quoting james16
nice nasir.

im smiling about my profit for sure. some of it in the bank already.
Ahhh great to have you sir on my side.
  • #44,074
  • Sep 18, 2009 3:13am Sep 18, 2009 3:13am
Quoting james16
nice nasir.

im smiling about my profit for sure. some of it in the bank already.
Nice work gentlemen....I was umming and ahhhing about this one but passed in the end....good to see you got a few

Cheers

Dave
  • #44,075
  • Edited 11:12am Sep 18, 2009 3:44am | Edited 11:12am
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  • #44,076
  • Sep 18, 2009 3:51am Sep 18, 2009 3:51am
Quoting bundyraider
I've got to agree with mike on where you've gotten to.

For someone who hasn't been posting much till lately , your charts are good to check out. You post wedges and so on, ...for me to come along and check out.

You and a couple of others make for our own little personal pattern EAs.
Thank you bundy and the others

Ben
  • #44,077
  • Edited 4:16am Sep 18, 2009 4:01am | Edited 4:16am
A rac trade?

Edit: ignore the other trade on my chart.
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  • #44,078
  • Sep 18, 2009 4:12am Sep 18, 2009 4:12am
Quoting james16
nice nasir.

im smiling about my profit for sure. some of it in the bank already.


115 pips in my bank

Your info is gold Jim, gold.
  • #44,079
  • Sep 18, 2009 4:16am Sep 18, 2009 4:16am
Quoting benji533
.
I'm short on this as well Benji. A nice PB on the 4H closed on my charts 15 mins ago
  • #44,080
  • Sep 18, 2009 4:23am Sep 18, 2009 4:23am
Quoting Grousman
I'm short on this as well Benji. A nice PB on the 4H closed on my charts 15 mins ago
Yea I saw that 4H bar in the way to close as a great looking pin, much more powerful than the 1H. But I entered early on the 1H pin in purpose to get a smaller stop (better R:R)

Now I have even more confidence in this trade after this 4H pin. Just remember that trading reversals is natural trading into traffic...so manage it accordingly.

Ben
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