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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

  • #45,581
  • Oct 9, 2009 5:58am Oct 9, 2009 5:58am
Quoting james16
i will try to answer this and es question above.

guys i have been doing this since late 1982.

i try to teach things that i have learned over the years that new people can have at least a prayer at staying above water for the first year.

pa, s/r etc etc... i teach basic stuff that i know works. there are many things i do that i cant teach on a forum or anywhere other than by my side and even that would not work until you had crossed the desert with it. the single hardest thing is the rifle mentallity and then not letting good entries...
What all of us must realize that once we have a great understanding of the who, what, where, how and when of a classic A+ trade, other opportunties begin to appear. Just ask the Rac-man and how he got started. The man knows a great location, and I'm sure the J16 way helped him get there.

Thanks Jim,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #45,582
  • Oct 9, 2009 6:01am Oct 9, 2009 6:01am
Quoting james16
it is sad and it always brings something to my mind.

why the hell do people vote for a thought process that says the good guy has less rights than the bad guy?

people in texas look at places like california in total disbelief,

same with taxes.

want to lose an election in texas? just talk about higher taxes or a state tax and your done.

california etc etc? they just keep right on voting for higher and higher taxes that never solve a damn thing.

unreal,

jim

I'm not sure what happened to my state of Michigan but it did produce this man, God Bless him.

Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #45,583
  • Oct 9, 2009 6:09am Oct 9, 2009 6:09am
Quoting ljr
Anybody watching this one?

Reasonable size pin off the 17050 area, 50% fib and with the trend. I'm watching to see if the left eye will hold. Target will be the recent lows around 16750.

Attachment
My TP at 16760 was just hit. Entry was 16930 so a good 170 pips.

Had a look at the news page to see what caused this quick move down and I see there were strong figures for CAD so this may push lower now and if my position was bigger I would have only closed half but I stuck to my original plan and it has worked out so I'm happy with that.

Leon
  • #45,584
  • Oct 9, 2009 6:15am Oct 9, 2009 6:15am
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....
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  • #45,585
  • Oct 9, 2009 6:30am Oct 9, 2009 6:30am
Quoting arthurwtm
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....
Hi Arthur

For me that Pin was too small and also did not stick out very far past the previous bars. Not at my charts now but from your charts it doesn't look like a significant PPZ. I also don't pay any attention to the 23% fib.
  • #45,586
  • Oct 9, 2009 6:46am Oct 9, 2009 6:46am
Quoting b612
Just a question. What do you use such an offensive username? I think it is totally inappropriate for this forum.
it is more an adjective for myself than another person, if the truth is offensive then so be it 8)
  • #45,587
  • Oct 9, 2009 6:47am Oct 9, 2009 6:47am
Quoting james16
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
I'd be very interested to see your YM trades if it's not too much trouble James.
  • #45,588
  • Oct 9, 2009 6:48am Oct 9, 2009 6:48am
Quoting arthurwtm
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....
let me give it a try why it wasn't a good PB

if you would open your eye you should see that you are trading right against a PPZ.

and how about the size of the bar in relation with the previous bar. isn't it a small bar?

do you expected such a small bar can turn those last 3 strong bearish bar, probably here where some guys take some profits covering their position.Price did what it's expected to do.

Looks what price did after have broke the support line(blue box) after that appear the PB, but if you knew that old S become new R have you been in this trade.Price broke the PB but now we whant this zone to become resistant and this is what it does,price was rejected and have momentum just look at MACD what are you see?

mayby this answers will drive you crazy,this is where I was some months ago, and I didn't understand why only after hours of looking at charts and hard studying. Man when I say hour I say 10 hour/per days. just give it a time!

thank you guys!

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  • #45,589
  • Oct 9, 2009 6:49am Oct 9, 2009 6:49am
Quoting jarroo
What all of us must realize that once we have a great understanding of the who, what, where, how and when of a classic A+ trade, other opportunties begin to appear. Just ask the Rac-man and how he got started. The man knows a great location, and I'm sure the J16 way helped him get there.

Thanks Jim,

Jim
lol... you're bad.

I said many times that, but people seemed to ignore they have ears and eyes..
It's been like that and it's going to be like that for centuries for come, who cares..
You don't just watch Jims videos, you look for tidbits of info 'he lets it slip' from time to time in them. It's the info that I read between the lines, that made the difference from me. I haven't just started trading the way I do on my own, I've seen it 'with my eyes closed' in Jims videos.
It could be just a few sec in a lengthy videos he's made that can made the difference for you, but you have to be little more than just a student. I haven't watched videos posted in the guest section, but I'm sure 'the code' is there as well'

In the end, 'only the strongest will survive'.

Enjoy the weekend. No need to trade everyday, if you know the code....
  • #45,590
  • Oct 9, 2009 6:50am Oct 9, 2009 6:50am
Quoting arthurwtm
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....
There is a BEOB on weekly tf and 1.5656 is a good res with fib confluence.
Sometimes it helps to fine tune the res/sup on h4 tf. Playing it against the trend was a bit risky without tight management but it went exactly where it should.
  • #45,591
  • Oct 9, 2009 7:01am Oct 9, 2009 7:01am
Quoting arthurwtm
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....
Hello arthur

Actually nothing went wrong here, but it did what was expected and went to first trouble area.
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  • #45,592
  • Oct 9, 2009 7:23am Oct 9, 2009 7:23am
Quoting FinnTrader
How about this one? GBPJPY 4H beob.

-At minor swing high
-Size bigger than last 10 bars
-From 143.00
-Not major support below before 140.00
Hi FT,

The bar was good, but if you looked around the charts, you'd have found other JPY based pairs with more room for that first push down.

On G/J there was a couple of areas where it got all gathered up (blue boxes on my 4hr chart).

The bar says a lot to me. You were right to look at it. It wasn't too bad. It just had a few things working against it.

Actually, on my second chart here you can see a Fib off of the weekly chart that I also have on my working charts in front of me ( I've done a cleaner version for you). The fib in itself doesn't say that much , but it lines up with a good PPZ. A really good one. That's the important bit. Draw this fib on the weekly then shoot down to your 4 hr chart. In fact, take it right down to the 1 hr chart even and examine the level ....Price has stopped RIGHT on this Fib-aligned PPZ, and not just on the way down this time.

It's always good to look at a heap of charts with good signals and just pick the one or two that have the best potential only.

(Edit: By the way , these charts are different time zone to yours, so they don't show your signal bar)
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Bundy's status today: "Waiting..."
  • #45,593
  • Oct 9, 2009 7:41am Oct 9, 2009 7:41am
Quoting icarusfx
was just thinking the same bundy! esp the yen pairs... it's only a matter of time before we see some general yen weakness and i'd dearly love to be on that train early.

regards

ic
As Rac just said above.... Don't need to trade every day, and those yen charts and a G/U touch trade have given me good easy coin to end the week with.

Don't see any point waiting around into the end hours of the week for anything else.

Have a good one, all y'all. I'm off to bed.
Bundy's status today: "Waiting..."
  • #45,594
  • Edited 8:24am Oct 9, 2009 8:11am | Edited 8:24am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Well, the break of the 2 4hr PB came with a PB in the opposite direction (up), which is the direction of the daily PB on Oct 7....hmm we'll see
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  • #45,595
  • Oct 9, 2009 8:11am Oct 9, 2009 8:11am
Hello guys,

Sorry if my question is off topic..................

Wouldn't it be MORE rewarding to buy Forex Options than buying/selling classic Forex lot ?

For example, buying a call option at a major PPZ support and buying a put option at a major PPZ resistance ?

Thanks

Happy trading

Cheers

Angel
  • #45,596
  • Oct 9, 2009 8:17am Oct 9, 2009 8:17am
Quoting james16
i only teach 10 percent of what i actually do. i cant teach the "mental" part and thats the biggest part to succesful trading.
.....
one of my future plans is to have a live trading room or live set ups. dont know when and a lot has to do with whether my wife will permit it. right now she gets pissed if i even mention it.
.....
jim
There are hundreds of trading rooms... but if one really deserves to lead one - it's YOU Sir.
  • #45,597
  • Oct 9, 2009 8:19am Oct 9, 2009 8:19am
Quoting arthurwtm
i'd just like to know why the pinbar didnt initiate a change in direction of the trend. (EUR/CAD DAILY)

besides the pinbar, it has also pierced thru fib's 23.6 level plotted from the absolute highest to the absolute lowest point

i'd just like to know what other signs have indicated that the pinbar will not work and if my fib is drawn wrongly please correct me....

My two cents, when ever you enter into a trade you need to do the same thing that you would do crossing a road in the US. LOOK LEFT ... focus on the right an all you see is empty space and then WHAM the 18 wheeler hits you.

That pin you took was headed straight where one would expect it to before encountering MAJOR resisitance. There is a pin bar that comes down on the 16th/17th September and trading into that requires balls. That trade of yours went further than expected.

Dave
  • #45,598
  • Oct 9, 2009 8:21am Oct 9, 2009 8:21am
Quoting triger88990
let me give it a try why it wasn't a good PB

if you would open your eye you should see that you are trading right against a PPZ.

and how about the size of the bar in relation with the previous bar. isn't it a small bar?

do you expected such a small bar can turn those last 3 strong bearish bar, probably here where some guys take some profits covering their position.Price did what it's expected to do.

Looks what price did after have broke the support line(blue box) after that appear the PB, but if you knew that old S become new R have you...
thanks for the input!! but i have a few questions

-what do you mean trading agaisnt PPZ? from what i understand, PPZ is a critical area where it tends to be a support/resistance, am i right?

Quoting Greenhaze
There is a BEOB on weekly tf and 1.5656 is a good res with fib confluence.
Sometimes it helps to fine tune the res/sup on h4 tf. Playing it against the trend was a bit risky without tight management but it went exactly where it should.

-it is logical that the BEOB(or is it double bar high with lower close??) signals a downtrend and hence determines the direction of the daily trend...thanks!
-however, how did you get 1.5656 as resistance? will it be too much trouble to plot the resistance and fibs out for me? i'm still trying to learn and i'll greatly appreciate it

Quoting FinnTrader
Hello arthur

Actually nothing went wrong here, but it did what was expected and went to first trouble area.
-yes i do notice the blue bar as a significant support/resistance area. BUT, how do you determine if the blue bar will become a resistance instead of support? IF it is seen as a support, i would have definitely been misled....
  • #45,599
  • Oct 9, 2009 8:22am Oct 9, 2009 8:22am
Quoting bundyraider
As Rac just said above.... Don't need to trade every day, and those yen charts and a G/U touch trade have given me good easy coin to end the week with.

Don't see any point waiting around into the end hours of the week for anything else.

Have a good one, all y'all. I'm off to bed.
i quite agree, i don't trade friday afternoons i sometimes have friday off altogether for a round of golf but with all the rain i had some time to get in and out today.

have a good weekend
  • #45,600
  • Oct 9, 2009 8:44am Oct 9, 2009 8:44am
Quoting 2mas
Well, the break of the 2 4hr PB came with a PB in the opposite direction (up), which is the direction of the daily PB on Oct 7....hmm we'll see
Afternoon 2mas, yeah i've been watching yen pairs today (well two small in n outs)

from a daily perspective geppy is "currently" showing a pin into a ppz (i know it means nothing with so much of the day to go) esp going into the weekend i wouldn't touch it with a barge pole...but with a possible double bottom in place @ a strong ppz (also @ the 50% fib from jan low june high) it could start to get exciting lol (as if geppy isn't exciting enough) but i'm more than happy to wait till next week.

kind regards

ic
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