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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

  • #45,081
  • Oct 1, 2009 5:02pm Oct 1, 2009 5:02pm
Quoting ikki
never...
missed original post Ikki.
not sure which Mark you referred to . If it's me, than here you go:

http://www.james16group.us/forums/sh...&postcount=694
  • #45,082
  • Oct 1, 2009 5:04pm Oct 1, 2009 5:04pm
Quoting jarroo
I totally agree.

He's explanations is how I started and its why I'm still trading profitable today.

Although I may drift to my own style of trading now and again (lol) but Mike's teachings and examples are the best foundation to learn and understand what we do here.

His posts are a must read. (All Of Them)

Jim
you all humble me thank you but all credit to the big guy J16, none of this without him. I fwd my thank yous to him

Mike
  • #45,083
  • Oct 1, 2009 5:12pm Oct 1, 2009 5:12pm


Quoting raczekfx
missed original post Ikki.
not sure which Mark you referred to . If it's me, than here you go:

http://www.james16group.us/forums/sh...&postcount=694
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #45,084
  • Oct 1, 2009 6:24pm Oct 1, 2009 6:24pm
Quoting ikki
Just keep in mind that by the time you read about it, it is too late to do anything with the information. Even worse, you will end up putting an order in at the end of the move and being liquidity for the guys closing their positions.

They dont exactly send out a press release saying 'hay guyz, we r gonna sell off SFr, get ur limit orders in!'
When you have to shoot, shoot. Dont talk.
  • #45,085
  • Oct 1, 2009 7:01pm Oct 1, 2009 7:01pm
Quoting joelcf
Just keep in mind that by the time you read about it, it is too late to do anything with the information. Even worse, you will end up putting an order in at the end of the move and being liquidity for the guys closing their positions.

They dont exactly send out a press release saying 'hay guyz, we r gonna sell off SFr, get ur limit orders in!'
Yep. They've been leaving mammoth footprints on the EURCHF chart for a while but always at 1.5 I would imagine the world and his dog would enter a buy limit around that area now hoping for a ride on the intervention, so they've come in a little bit earlier this time. To me that chart looks way too choppy to play right now between 1.5 and 1.54. I don't have much experience behind me yet so I stay away. Rac played it like the pro he is.
  • #45,086
  • Edited 8:58pm Oct 1, 2009 7:20pm | Edited 8:58pm
Quoting mbqb11
you all humble me thank you but all credit to the big guy J16, none of this without him. I fwd my thank yous to him

Mike
Hell yeah, I can never thank the big guy enough. I think if I thank him again he'll put me on his "ignore list", God bless'em. lol

I'm sure everyone would agree that Jim handed off that football to you and you ran with it, brother.

Studying a Jim video and then Mike video . . . . Wow .. . its powerful stuff. It never gets old.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #45,087
  • Oct 1, 2009 8:21pm Oct 1, 2009 8:21pm
Quoting raczekfx
....
p.s. nonf tomorrow.
I can see at least dozen crosses that will depreciate by at least 50-80ps in the next 12hrs..
All PMs have been answered... (just in time I hope..)

Before nonfarm it is a harvest time.
Here is just a handful of 50+ pipers, I mentioned above.

Be careful tomorrow guys!
Be well, Trade well...
.
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  • #45,088
  • Oct 1, 2009 8:32pm Oct 1, 2009 8:32pm
Quoting raczekfx
p.s. nonf tomorrow.
I can see at least dozen crosses that will depreciate by at least 50-80ps in the next 12hrs..
I'm going to ask the question....

How on earth did you know this was going to happen? I can see individual pairs moving for chart reasons, but this en masse move....that was an amazing call
  • #45,089
  • Oct 1, 2009 8:50pm Oct 1, 2009 8:50pm
Quoting TiaForex
I'm going to ask the question....

How on earth did you know this was going to happen? I can see individual pairs moving for chart reasons, but this en masse move....that was an amazing call
No, no. no bows please. It's really simple Aaron. Tons of hints in the pf as well. I also mentioned it on FF twice before, prior to previous NF events..

We can discuss it sometimes via skype, over a beer in TO or elsewhere, but I'm not going to talk about it on the public forum. You never know who's reading this..
This info is worth more than all the trading books, ebooks or trading systems you ever care to purchase.. . You know people come here, rephrase/rename few things and claim it as their own, repackage and sell it on the net. No thanks, just ask JIM...
  • #45,090
  • Oct 1, 2009 9:28pm Oct 1, 2009 9:28pm
Quoting raczekfx
No, no. no bows please. It's really simple Aaron. Tons of hints in the pf as well. I also mentioned it on FF twice before, prior to previous NF events..

We can discuss it sometimes via skype, over a beer in TO or elsewhere, but I'm not going to talk about it on the public forum. You never know who's reading this..
This info is worth more than all the trading books, ebooks or trading systems you ever care to purchase.. . You know people come here, rephrase/rename few things and claim it as their own, repackage and sell it on the net. No thanks,...
Good point Mark. And you know how much it sticks in my craw when we get thieves on here. And that's the word for them, plain and simple. Thieves. I've seen enough J16 ripoff websites on the net.

I'm due to give your stuff a thorough going over when I've settled in the basics of PA trading that I am focussing on now. After I've read through all your stuff, I'll take you up on that kind offer. I've got family in Toronto so you never know...

Have a safe NFP and a good weekend.
  • #45,091
  • Oct 1, 2009 10:44pm Oct 1, 2009 10:44pm
sometimes when i read this thread, "time" by pink floyd comes to my mind and i think to myself that it's so weird that some catch this stuff so quickly, some take their time and eventually get it, and some will never get there regardless how many years sacrificed.... and the game is just about some virtual numbers- isn't it sad?
anyway great reading tonight gentlemen
  • #45,092
  • Oct 1, 2009 10:46pm Oct 1, 2009 10:46pm
Quoting mbqb11
Eur/gbp - again this is at a swing high, no space created. We want a bullish pin at a swing low. ...Small bar also = no trade
Low has not broken yet so this is still alive technically speaking.

gbp/usd - We want bullish pins at swing high points this is a swing low
point...
Hey Mike,
I got kinda lost on the bold statements above. I'm pretty green on pa and have been trying to learn as quickly as I can...could you please explain a bit more on the above.

Also, I'm thinking about joining "the group," but I don't have a fast internet connection...I am able to download the guest videos, and the webinars I could probably review after they were done and if there were recorded to video...but doubt I would be able to attend. Do you think it would be still valuable to join?
  • #45,093
  • Oct 1, 2009 10:55pm Oct 1, 2009 10:55pm
Quoting jfharper
Hey Mike,
I got kinda lost on the bold statements above. I'm pretty green on pa and have been trying to learn as quickly as I can...could you please explain a bit more on the above.

Also, I'm thinking about joining "the group," but I don't have a fast internet connection...I am able to download the guest videos, and the webinars I could probably review after they were done and if there were recorded to video...but doubt I would be able to attend. Do you think it would be still valuable to join?
Hey jf

What I was getting at, is that pinbar although technically a pin by itself was at a poor location. We want to see that bar at a swing low, instead of where it was near a swing high.

Notice the area marked in blue with swing low. This is where we want to see a bullish pin bar indicating a long. The area we were at had a great bearish pin at a swing high point.

Some swing points are better then others. We have main swing points and minor swing points. Just like major PPZ and minor PPZ as well. I marked another chart with that just to give some more examples.

As for the group everything is recorded and saved for download and offline viewing. I highly recommend checking out the tour the member area videos to decide if it is right for you. The guest videos give a good idea of the video aspect of what we do inside and then we have a lot of text material etc. Shoot me a PM if you have more questions

Hope this helps
Mike
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  • #45,094
  • Oct 1, 2009 10:59pm Oct 1, 2009 10:59pm
Where was I when I missed this easy one.

Eur/Cad 4 Hour BUOB off a Daily/Weekly PPZ level, 1.5650, at a swing Low, nice space and 50% retracement level. And of course the beautiful hard break with no draw down that doesn't look back.
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Indicators show the past. Price Action "Indicates" the future.
  • #45,095
  • Oct 1, 2009 11:08pm Oct 1, 2009 11:08pm
Quoting jfharper
Hey Mike,
I got kinda lost on the bold statements above. I'm pretty green on pa and have been trying to learn as quickly as I can...could you please explain a bit more on the above.

Also, I'm thinking about joining "the group," but I don't have a fast internet connection...I am able to download the guest videos, and the webinars I could probably review after they were done and if there were recorded to video...but doubt I would be able to attend. Do you think it would be still valuable to join?
Hi JF,

I'm pretty new to the PF group as well. So allow me to chip in for abit.

The only thing I have to say is that I wish I was here YEARS ago. It's not just the info that's immense, its the community too.

I've recently considered everything that I've learned before joining this J16 thread and the PF, as JUNK and starting again from scratch.

I can read a chart, I've read more damn books than I can keep track of. Nothing comes close.
(this is a "commercial" thread yah? might as well utilize that fully )

But in all seriousness, if you're green, this is an awesome place to start. I've been doing some major mental renovation in e past 2 months. It's much easier to build a house from scratch than it is to renovate and remodel the whole thing.

My 2 pips pls =)

Cy

PS: Mike's extremely gracious. To my knowledge, he reads EVERY post and answers EVERY question.
If you go back a couple of pages, I've compiled ALL of his posts from pg 1 to 3000. I think you'll find a major amount of reading there.

It should answer all your questions. It's answering many of mine.
One Mind, Any Market
  • #45,096
  • Oct 1, 2009 11:12pm Oct 1, 2009 11:12pm
this flat blessed my socks off.

thank you,

jim

Quoting Cyrus
Hi JF,

I'm pretty new to the PF group as well. So allow me to chip in for abit.

The only thing I have to say is that I wish I was here YEARS ago. It's not just the info that's immense, its the community too.

I've recently considered everything that I've learned before joining this J16 thread and the PF, as JUNK and starting again from scratch.

I can read a chart, I've read more damn books than I can keep track of. Nothing comes close.
(this is a "commercial" thread yah? might as well utilize that fully )

But in all seriousness,...
  • #45,097
  • Oct 2, 2009 12:31am Oct 2, 2009 12:31am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
hey, I reserved a seat for you here, if you don't mind, jarroo? but, to be honest, I am a little bit uncertain about this type of setup, given what Mike said about space as below link, which, of course, I don't understand well though.

http://www.forexfactory.com/showpost...ostcount=45042


the thing is, why do you have so much difference in talking about space?
I am not saying any one of you were wrong, simply curious what could be the difference between two of you.


Quoting jarroo
Where was I when I missed this easy one.

Eur/Cad 4 Hour BUOB off a Daily/Weekly PPZ level, 1.5650, at a swing Low, nice space and 50% retracement level. And of course the beautiful hard break with no draw down that doesn't look back.
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  • #45,098
  • Oct 2, 2009 12:33am Oct 2, 2009 12:33am
Mike

Your help is much appreciated however i am still a little confused re swing hi/lo , can u show some examples please.

Thanks Gerard
  • #45,099
  • Oct 2, 2009 12:50am Oct 2, 2009 12:50am
Quoting krue
hey, I reserved a seat for you here, if you don't mind, jarroo? but, to be honest, I am a little bit uncertain about this type of setup, given what Mike said about space as below link, which, of course, I don't understand well though.

http://www.forexfactory.com/showpost...ostcount=45042


the thing is, why do you have so much difference in talking about space?
I am not saying any one of you were wrong, simply curious what could be the difference between two of you.
The Difference is the Time Frames. Mike was on the Daily, while I was on the 4 Hour. The Daily's space was very closed or trafficy (is that a word) in relation to the setup while the 4 Hour space was very open or less trafficy to the 4 hour setup.

Granted, Mike will require more space for a setup then I might at times, but the important thing here is that there is a good amount of space on a given time frame for that setup.

Am I making sense?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #45,100
  • Oct 2, 2009 1:04am Oct 2, 2009 1:04am
Quoting krue
, I am a little bit uncertain about this type of setup, given what Mike said about space as below link, which, of course, I don't understand well though.
http://www.forexfactory.com/showpost...ostcount=45042
the thing is, why do you have so much difference in talking about space?
I am not saying any one of you were wrong, simply curious what could be the difference between two of you.
After re-reading Mike's post I believe he was talking about a potential Daily PB setup. Which I would agree with Mike about the lack of space or traffic that this setup would be running into.

Where as the 4 hour time frame had more space or less traffic compared to the Daily.

The confluenced location was very good (Daily/Weekly PPZ level, 50% ret, etc). Also, the BUOB was at a deeper swing low on the 4 hour than on the Daily potential PB.
Indicators show the past. Price Action "Indicates" the future.
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