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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

  • #44,281
  • Sep 21, 2009 10:59am Sep 21, 2009 10:59am
Quoting triger88990
here is something helpful for those people who are struggling
to read this entire thread.

I have just finishing to read all jame's post,and I copy/paste them in an word document.

here you will find all james post,hope you will find useful:
http://www.4shared.com/file/13424564...s16_posts.html

This is not a substituent for reading the hole thread which I recommended to all of you who have never read it.

I have been reading from this thread almost +2000 pages which it was helpful for me.

Ps: for sure it will come another...
Thanks a lot!
I am learning English, but still cannot speak well.
  • #44,282
  • Sep 21, 2009 11:08am Sep 21, 2009 11:08am
Quoting Que
Thoughts Welcome

Que
que, the pin worked and it went to the first trouble area/TP(prior bar's low). depends on how you would manage the trade, you may or may not have partial/full position by this point.

i don't think it's a good idea to look for entry now because of the pin you highlighted before, it had served its purpose(it's over) imo. if you enter again it should be because you get another new setup later.

just my views.
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  • #44,283
  • Edited 12:15pm Sep 21, 2009 11:20am | Edited 12:15pm
Possible 4hr PB forming on loonie (using Fxpro). Close needs to be within previous body.

Edit: Skip, close was above previous candle body.

Nice one last week, raczekfx.
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  • #44,284
  • Sep 21, 2009 11:24am Sep 21, 2009 11:24am
Quoting benji533
Hey guys,
Does anyone has a PDF or know a thread which is speaking about Ryan's style? Does he pay attention to traffic?....
in fairness & in respect to traders who have come before & will come after u,
i suggest u visit Jankone's thread & post/learn about M5 charts/lower timeframe chart there.
newer readers might/will get confused if we deviate from the main/basic H4 chart & up trading recommendation on post#1.
  • #44,285
  • Sep 21, 2009 11:33am Sep 21, 2009 11:33am
Quoting supremeChaos
in fairness & in respect to traders who have come before & will come after u,
i suggest u visit Jankone's thread & post/learn about M5 charts/lower timeframe chart there.
newer readers might/will get confused if we deviate from the main/basic H4 chart & up trading recommendation on post#1.
Agreed.
Thanks.
  • #44,286
  • Sep 21, 2009 11:44am Sep 21, 2009 11:44am
Quoting Que
In the mean time, I am going to make this thread my home. If you guys do not mind, the next few posts will be asking some advice on current trades I am in and I will explain why I entered them.

Thanks for everything,

Que
Hey Que please do hang around here
  • #44,287
  • Sep 21, 2009 12:37pm Sep 21, 2009 12:37pm
Quoting supremeChaos
Jankone's thread
A must read thread!
  • #44,288
  • Sep 21, 2009 12:49pm Sep 21, 2009 12:49pm
Hi guys !

Very nice thread, I'm learning a lot. Im actually reading it while trying to follow the latest posts and i got a question :

When you say for example +6R for a trade, is it the same thing that the Risk:Reward ratio ?
for this example, 6R = 1:6 R:R ? meaning that you won 6 times your risk ?

thanks
  • #44,289
  • Sep 21, 2009 2:57pm Sep 21, 2009 2:57pm
Quoting bakko85
Pin bar forming on the 4h TF on EurCad.

This is the tipical situation in which i don't know what to do. So i ask what you think about this possible setup!

The pin itself i think it's lovely (long nose), the location is good (at a swing high + confluence with strong PPZ at 1.5800 and trendline) + double top with divergence BUT we've some traffic below 1.58, you can see the chart.
On my chart it actually closed above the previous bar so not technically a pin bar. Even so, as you state looking at where I would expect the price to go, there is a lot of immediate traffic - 1.5800 as you pointed out and then 1.5770. After PPZ exists at the round numbers of 1.5700 and 1.5650. So no, I didn't and wouldn't have taken this trade based on this trading methodology...I would have taken it as a slightly aggresive bounce of the trendline and double top i.e. it is more aggressive because you are not waiting for the bar to close - however this is not the trading style of this thread.

The same could be said of the USD/CAD pin, which was a valid pin on my chart, but there was immediate PPZ zone below it at 1.0745

Just my views as a novice to this thread
  • #44,290
  • Sep 21, 2009 3:45pm Sep 21, 2009 3:45pm
Hi, appreciate if anyone check the following list of do's are correct.
1- Begining of the wk I draw a simple trend line for the wk.
2- then I draw the possibile support and resistence lines on the pair. I use the line charts which are based on close of the pair, then I change to bar charts and adjust the horizontal lines acording to the highs in the vicinity.
3- Then I draw the fibs on the wkly chart from the highest point to the lowest point.
4- On daily charts I draw the fibs from highest to lowest.
5- then I draw pivots on the daily.
6- then I draw lines on the xx.50 and xx.00 round numbers
7- I only enter if it is in the direction of the wkly trend
8- I only enter if and only if it is atleast 20 pips away from the confluence or it has bounced from the confluence area.
9- I only trade if and only if there is a confirmation of a price action.

Thats my list of do's, just wanted to check if I need to refine something or that should be fine.

Kind regards to all and happing trading. Good luck.
  • #44,291
  • Sep 21, 2009 3:48pm Sep 21, 2009 3:48pm
Quoting mkashifk
Hi, appreciate if anyone check the following list of do's are correct.
1- Begining of the wk I draw a simple trend line for the wk.
2- then I draw the possibile support and resistence lines on the pair. I use the line charts which are based on close of the pair, then I change to bar charts and adjust the horizontal lines acording to the highs in the vicinity.
3- Then I draw the fibs on the wkly chart from the highest point to the lowest point.
4- On daily charts I draw the fibs from highest to lowest.
5- then I draw pivots on the daily.
6- then...
Hey MK

I think that is a good start to begin to limit things down. Just be careful not to overload on certain things. For examples for me personally I often see many people overloading the charts with fibs. Make sure to take the obvious ones. Sometimes I see a chart with lines everywhere and that can lead to analysis paralysis. If you use that template to begin to find trades, just make sure to keep it as clean and obvious as possible.

Be sure to post a chart or two so we can visually see what else we might be able to help you out with.

Look forward to some charts
Mike
  • #44,292
  • Sep 21, 2009 3:59pm Sep 21, 2009 3:59pm
Quoting Que
I did not know this thread was still around and active. I was once a member of the J16 group (Until money became an issue). I would like to note a few things about James.
Are you the Que that made that insane excel spreadsheet? That thing is pretty awesome. Good Job on that.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #44,293
  • Sep 21, 2009 4:07pm Sep 21, 2009 4:07pm
Thanks Mike, posting a EurUsd chart. I forgot to mention, once I get the confluence area I clean all the fibs. Thanks for the indication.
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  • #44,294
  • Sep 21, 2009 4:08pm Sep 21, 2009 4:08pm
Quoting mkashifk
Thanks Mike, posting a EurUsd chart. I forgot to mention, once I get the confluence area I clean all the fibs. Thanks for the indication.
Great! Nice clean chart and that is an area of interest to me as well

Best
Mike
  • #44,295
  • Sep 21, 2009 4:11pm Sep 21, 2009 4:11pm
Quoting mbqb11
Great! Nice clean chart and that is an area of interest to me as well

Best
Mike
Very nice of you. Kind regards
  • #44,296
  • Sep 21, 2009 4:44pm Sep 21, 2009 4:44pm
just wondering if anyone has any opinions on the latest gold pa. is gold still bullish? depends what feed you have but the pin is probably a B grade one? wouldve been better with a stronger close into the previous bar? not sure
  • #44,297
  • Sep 21, 2009 4:57pm Sep 21, 2009 4:57pm
Quoting supermatt
just wondering if anyone has any opinions on the latest gold pa. is gold still bullish? depends what feed you have but the pin is probably a B grade one? wouldve been better with a stronger close into the previous bar? not sure
Can you put up a chart? Nothing on mine >:/

(definitely still bullish on gold, just waiting for an entry.. until that happens, though, it has seen enough volatility that I am happy playing the swings either way)

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When you have to shoot, shoot. Dont talk.
  • #44,298
  • Sep 21, 2009 5:02pm Sep 21, 2009 5:02pm
Quoting supermatt
just wondering if anyone has any opinions on the latest gold pa. is gold still bullish? depends what feed you have but the pin is probably a B grade one? wouldve been better with a stronger close into the previous bar? not sure
Not a pin on mine since the open and close are not within the prior bar which means we prob have to go higher still to close it, but nothing worth getting involved since this pin is a swing high. This means no space which can mean immediate traffic.

I do agree we should be watching this area like a hawk. But still in wait mode for me

Mike
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  • #44,299
  • Sep 21, 2009 5:22pm Sep 21, 2009 5:22pm
lol yeh joel i see what you mean. your feed is completely different. thanks for the posts though mike and joel. I was just referring to the setup on the feed mike has. All good, shall keep waiting and watching this area, still think the gold rush is about to come shortly
  • #44,300
  • Sep 21, 2009 5:36pm Sep 21, 2009 5:36pm
Quoting rikrok
4X=0,
You are not the first.

Charles Dickens's documented this in his novel David Copperfield.

There was an amiable character called Mr Dick, he tries to write novels but cannot concentrate because King Charles I keeps infiltrating his head.

Its a long novel but superb and worth a read.
Dickens was obviously way ahead of his time.
Thank you for the thoughtful recommendation. Recently I obtained "the lost symbol" by dan brown as a way to keep my mind occupied. This david copperfield may be the next book i read personally - though charles dickens had been dead for one hundred years before i am aware that this was possible today. an ironic aspect of reading a book such as david copperfield is that the purpotrator of this horrible 'game' on me will be listening to each word that crosses my eyes.
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