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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

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  • Post #45,521
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  • Oct 8, 2009 7:02pm Oct 8, 2009 7:02pm
  •  Jduester
  • | Joined Jan 2009 | Status: Member | 1,036 Posts
Quoting mbqb11
Disliked
I usually give these numbers as a basis.

Weekly 20-40
Daily 10-30
4hr 10-20
1hr 8-15

...Best
Mike
Ignored
Definitely bookmarked for helping newbies... I've been looking for a post like this Mike (not for myself but something to reference). Thanks.

Now let's get that g/j running a bit higher...

Josh
  • Post #45,522
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  • Oct 8, 2009 7:49pm Oct 8, 2009 7:49pm
  •  Gerard212
  • | Joined Apr 2007 | Status: Member | 125 Posts
Mike

Hope you well,may i ask your opinion on a trade i entered yesterday being the Eur/Cad daily pin. Pin had good shape,with trend and round no 1.55.
It also appeared to have room to move but it as you can see did,nt.

Appreciate you thoughts.

Gerard
  • Post #45,523
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  • Oct 8, 2009 8:06pm Oct 8, 2009 8:06pm
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
Quoting Gerard212
Disliked
Mike

Hope you well,may i ask your opinion on a trade i entered yesterday being the Eur/Cad daily pin. Pin had good shape,with trend and round no 1.55.
It also appeared to have room to move but it as you can see did,nt.

Appreciate you thoughts.

Gerard
Ignored
Hey Gerard for the last few months(back to really late july) price has literally just chopped around(look at two big blue boxes) Look at all the spikes created from highs and lows. The pin you took was very very small and within this "area". So when we play small pins like this(notice size doesn't really stand out versus this mess), in all this traffic, we MUST always be aware of that first trouble area(marked in small blue horizontal box). So it really didn't have much room to go, but it did make it to that first trouble area where it stalled.

Let me know if you can see this

Mike
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  • Post #45,524
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  • Oct 8, 2009 8:19pm Oct 8, 2009 8:19pm
  •  Que
  • Joined May 2007 | Status: ??? | 1,265 Posts
Any opinions on this trade? I was very confident in this when I made it. Came bace a few hours later and I am not feeling so good about it. Price has stalled exactly where I thought. The only problem is, I am not as confident as I was when I placed the trade that it can go through it.

I entered this trade based on the H4 chart after seeing an overbought situation on the daily. I saw a nice pin so on the next bar (marked with an arrow) I sold at the 50% retracement of the pin.

Thanks,

Que

*edit*
I think this was an overall good trade. I analyzed the situation, initiated a sell and it went exactly where I predicted. I am currently +30 on this trade, and I initiated it with a 30 pip stop. The question now is, do I stay or Steve Miller it?
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Que
  • Post #45,525
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  • Oct 8, 2009 8:23pm Oct 8, 2009 8:23pm
  •  joelcf
  • Joined Jun 2009 | Status: My gun control is a steady hand. | 871 Posts
Quoting mbqb11
Disliked
I usually give these numbers as a basis.

Weekly 20-40
Daily 10-30
4hr 10-20
1hr 8-15
Ignored
I went to the trouble of calculating average ranges for each timeframe, and trying to determine a movement 'threshold' based on average volatility that would indicate a break, not just random noise... and it ended up being almost exactly what mike said.

Just goes to show - putting effort in is a waste of time

(fwiw, i never go below 5 pips, even on the 15m)
When you have to shoot, shoot. Dont talk.
  • Post #45,526
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  • Oct 8, 2009 8:34pm Oct 8, 2009 8:34pm
  •  Gerard212
  • | Joined Apr 2007 | Status: Member | 125 Posts
Mike

Thanks i can now see the noise above.I appreciate your clarity as always.

Gerard
  • Post #45,527
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  • Oct 8, 2009 9:16pm Oct 8, 2009 9:16pm
  •  b612
  • | Joined Sep 2009 | Status: Member | 17 Posts
Quoting enculée
Disliked
beautiful levels on all US indices with divergence, and the NQ has turned from leader to laggard (nice doji close too), a push down next week perhaps?

edit: mornin' Ryan! going well I hope.
Ignored
Just a question. What do you use such an offensive username? I think it is totally inappropriate for this forum.
  • Post #45,528
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  • Oct 8, 2009 10:00pm Oct 8, 2009 10:00pm
  •  Que
  • Joined May 2007 | Status: ??? | 1,265 Posts
Went the safe route. Took half my position off the table, moved my stop to BE and letting it go.

Que
Que
  • Post #45,529
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  • Oct 8, 2009 11:26pm Oct 8, 2009 11:26pm
  •  raczekfx
  • | Commercial Member | Joined Oct 2005 | 2,899 Posts
You don't read/hear about it. When you do, it's already too late...
You pay for the information and then use it to your advantage...
Here's your DNTs double whacks off of 48, each worth almost 100ps
I'll stop right here.... You can have your 1.53 now..
.


Quoting supremeChaos
Disliked
i'll put my analyst's hat on.
i'd love to take u up on this, Sir. (i had this in my mind for months now)
it would just be a friendly fan vs. idol challenge anyway, nothing big. & i love learning.
after several months (i'd look for that particular post i've made), i still believe
fiber is bullish.
that DNT u are referring to (i havent seen/read abt it yet) may get broken of course.

i believe we have not reached this year's top. if we breach 1.49, then it's possible 1.50 - 1.53. am bullish while 1.4450-14550 supports. (i'll review my...
Ignored
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  • Post #45,530
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  • Oct 9, 2009 12:05am Oct 9, 2009 12:05am
  •  Cyrus
  • | Joined Jun 2007 | Status: Truth is an empty cup | 459 Posts
Hi Guys,

Am reading through some posts by the seniors now.

Reading Ryanmcd's. This one was just too damn good too keep to myself.

Bold's & underlines mine. Full post here.

http://www.forexfactory.com/showpost...ostcount=31292

I can relate to this a tonne. For awhile I was wondering how come there were so many ways of trading J16 stuff then I realised that, hey, if everyone can trade it so differently and make it work for them, then, THE PROBLEM MUST BE ME.

Recently I've just been working on my psychology and asking myself, "how do I make this stuff work in a way that I like and can relate to?"

I realised trading largely is about using all these awesome tools here to tailor a system that is custom fitted to us individually. If you know how to 'tailor' then your system grows as you grow as a trader. And along this path, I believe is consistent profitability.

Guys who have are already walking the consistently profitable road, kindly correct me if I'm not thinking right pse.


-----

Quote:
Originally Posted by markmm http://cdn.forexfactory.com/images/buttons/viewpost.gif
Thats amazing returns over 120% a year, you will be richer than Bill Gates if you can keep that up, how long have you had those returns if you dont mind me asking?

If you can trade with the small brokers cheating you and having 10pip spreads at news time then if you can grow that account you can get away from all that crap. You can even trade with no spreads and just pay comms if you like.

It really does not matter how much I make to be honest why don't you work on learning how to trade and learn what your faults are. Or you can be like the 4 friends I helped and they all LOST money with me TELLING them when to buy and sell, yes it did happen. I would make money they would lose.

You need to worry less of what others do and wasting time challenging what they do, if someone comes on here says they make 10 million a day who cares, how is that helping you is what you need to be thinking. You need to work on YOURSELF, I know I used to always think everyone is better or has something special or better then what I am doing but that is not the case.

The only reason I post is to help people and maybe it will shave some time off of them getting this stuff down. Some people have good ideas that I add to what I do but I trade the same way the past 9 years because it works

Look over my old posts, I posted charts with my trades on them in the past just to show I was no bs'ing. It was a screen shot when I was trading with Oanda.
One Mind, Any Market
  • Post #45,531
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  • Oct 9, 2009 12:07am Oct 9, 2009 12:07am
  •  Cyrus
  • | Joined Jun 2007 | Status: Truth is an empty cup | 459 Posts
Recent trade I took.

Swissy 4hour. Broad trend down. Short on PB @ weekly Pivot + 50% ret of swing. Risked 35pips to get 80ish pips.

Getting a hang of this =)

I'm just looking for those 1 to 2, maybe 3 good trades per week.
Realising that consistent profitability is directly proportional to trade picky-ness!

Back to demo-ing btw. Want to be able to pick em' A grade stuff well. =P

I place the crappy B-/C grade rubbish "errr... I dont know, but wtf. I'll just give it a shot anyways" trades on another demo account.
No prizes to guess how that account is fairing. LOL
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One Mind, Any Market
  • Post #45,532
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  • Oct 9, 2009 12:09am Oct 9, 2009 12:09am
  •  james16
  • | Commercial Member | Joined Feb 2005 | 2,875 Posts
These are todays trades. Im up a little over 23,000 on them. this does not include my mini dow trading which is the core of my trading.

i choose to not lead people into trades. i have thousands of former students that can do this as well as me.

i didnt give them a fish. i taught them to fish.

im proud of that.

i dont know how much longer i will be at forex factory but wherever i go i will continue to help people for free and with no pressure to join anything.

jim
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  • Post #45,533
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  • Oct 9, 2009 12:18am Oct 9, 2009 12:18am
  •  james16
  • | Commercial Member | Joined Feb 2005 | 2,875 Posts
make that 25,280.

does anyone want updates?

i promised my wife i would never do this in public.

please dont tell on me.

jim

Quoting james16
Disliked
These are todays trades. Im up a little over 23,000 on them. this does not include my mini dow trading which is the core of my trading.

i choose to not lead people into trades. i have thousands of former students that can do this as well as me.

i didnt give them a fish. i taught them to fish.

im proud of that.

i dont know how much longer i will be at forex factory but wherever i go i will continue to help people for free and with no pressure to join anything.

jim
Ignored
  • Post #45,534
  • Quote
  • Oct 9, 2009 12:35am Oct 9, 2009 12:35am
  •  dengzhi
  • | Joined Jan 2008 | Status: Member | 302 Posts
Quoting james16
Disliked
make that 25,280.

does anyone want updates?

i promised my wife i would never do this in public.

please dont tell on me.

jim
Ignored
hehe nice
  • Post #45,535
  • Quote
  • Oct 9, 2009 12:37am Oct 9, 2009 12:37am
  •  esbatu
  • | Joined Sep 2009 | Status: Member | 114 Posts
Hi James, if you don't mind me asking, how many pips do you use for buffer for trading daily mini dow, nasdaq, gold, silver and oil?

On my feed, yesterday the NQ has setup a bearish pinbar with the low of the bar at 1711.25. Would 1710 level considered a breaking level?
Thanks
  • Post #45,536
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  • Oct 9, 2009 12:42am Oct 9, 2009 12:42am
  •  supermatt
  • | Joined Jun 2009 | Status: Member | 463 Posts
jim if u dont mind me asking, What were the basis of these trades. I know you have a tonne of experience but, i cant see any pins or anything. I guess my question is, were all these trades based purely around the fact that price touched key support or resistance levels? and for the A/J it broke a key level?

sorry I hope I havnt lost the plot, im at work
  • Post #45,537
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  • Oct 9, 2009 1:09am Oct 9, 2009 1:09am
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
Quoting supermatt
Disliked
jim if u dont mind me asking, What were the basis of these trades. I know you have a tonne of experience but, i cant see any pins or anything. I guess my question is, were all these trades based purely around the fact that price touched key support or resistance levels? and for the A/J it broke a key level?

sorry I hope I havnt lost the plot, im at work
Ignored
Even I almost pulled the trigger on the A/J for a pure breakout

Notice all the bar highs. When you get multiple within a short span. Orderflow builds above that, that even if it is a false breakout, it will still push hard enough (stops + buys) for a "burst" breakout. We can still look to this former area for PA as well on a pullback

Not coincidentally this lines up with the 80 mark round number. Buy stop can go above this(safe would be 15-20 pips above the highest high

Mike
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  • Post #45,538
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  • Oct 9, 2009 1:11am Oct 9, 2009 1:11am
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
This is another example of one I actually took. Those that know me know I don't play to many pure breaks but these are the rare circumstances that I do.

Just an expansion to the a/j

Mike
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  • Post #45,539
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  • Oct 9, 2009 1:21am Oct 9, 2009 1:21am
  •  pizdun
  • | Joined Nov 2007 | Status: Member | 95 Posts
hey guys. bored. decided to go to stockcharts.com.

puled up 4 of the most popular charts of the day. one of them even has a trade setup for tumoro.

the hardest part is being alive to trade them

http://i432.photobucket.com/albums/q...zdun/stock.jpg
  • Post #45,540
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  • Oct 9, 2009 1:23am Oct 9, 2009 1:23am
  •  supermatt
  • | Joined Jun 2009 | Status: Member | 463 Posts
thanks mike. i havnt even thought about breakouts seems i have been so caught up in pa signals. The aj i had my eyes on as yeh the 80 level was obvious. What about jims other trades, where they just based on touches of support and resistance?
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