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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

  • #45,681
  • Oct 9, 2009 9:40pm Oct 9, 2009 9:40pm
Quoting james16
i asked him if he was scared and he stared off for a moment and said he really didnt think about dying.

he said i was 20 years old. if i had been in that plane at 40 i would have died of a heart attack from fear.

i thought that was profound.
Is fear more a function of unresolved emotions and belief conflicts collected over years of our lives...?
  • #45,682
  • Oct 9, 2009 9:44pm Oct 9, 2009 9:44pm
i dont know but i personally should be deader than a door nail based on the stuff i did when i was 20.

i had no fear of death.

now i pray every night that i can just live long enough to see my boys raised and off to a good life. i worry all the time i wont get that time.

jim



Quoting HipsterPipster
Is fear more a function of unresolved emotions and belief conflicts collected over years of our lives...?
  • #45,683
  • Oct 9, 2009 10:16pm Oct 9, 2009 10:16pm
Quoting james16
one

forex factory DOES NOT have to go down the same road that moneytec did just for the sake of "business"

moneytec died a slow ugly death due to its total disregard of its decent members and allowing dirtbags to take over.

jim
What did moneytec do wrong? i am not a member there.
  • #45,684
  • Oct 10, 2009 2:10am Oct 10, 2009 2:10am
some interesting weekend setups,

2 day PB with divergence on EURUSD
weekly PB with div on USDJPY
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Click to Enlarge Name: JPY.jpg Size: 151 KB
  • #45,685
  • Oct 10, 2009 2:23am Oct 10, 2009 2:23am
Hello Jim,

Quote
a killer entry would be a spike or very quick move up to the 50 fib and a continued divergence with rsi. a great place to throw a little risk dough at some cheap out of the money options with 4 to 6 months left.
If you don't mind asking you, 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 for your attention,

Best regards,

Angel
  • #45,686
  • Oct 10, 2009 4:16am Oct 10, 2009 4:16am
Quoting raczekfx
another one..

Price will close above previous bars high as a 2-week PB.
Right now it is sitting on weekly ppz, but if it breaks, we'll probably go to 135.
That's if fiber and dj can behave in reasonable manner next week..

Watch Jims video guys again and again, and you won't believe your eyes.
They might just add 5th dimension to your trading..
Hi Mark!
Great trade!

And, how do you like this one?
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  • #45,687
  • Oct 10, 2009 4:37am Oct 10, 2009 4:37am
" James16:
i love this place and i love the people that are behind it and i will never speak badly of them but i will tell you what i think about the forum.

forex factory has/is making some terrible mistakes in my opinion and i wont stay unless it stops.

im just a regular guy here and i dont feel high and mighty in any way, shape or form but if my tenure here means anything to them then im gonna try my best to get there attention.

forex factory DOES NOT have to go down the same road that moneytec did just for the sake of "business"

moneytec died a slow ugly death due to its total disregard of its decent members and allowing dirtbags to take over.

moneytec is now on the rebound because it finally woke up and cleaned house.

will forex factory go down the same road?

i have 5 years invested here and i wont watch it go down without fighting to get someone to wake up and reverse the current course.

jim "

Jim, I agree with you completely here. In fact, I have given up posting in the main forum and am finding myself drifting away from here, because it is just to painful for me to watch what is happening in the forums I gave so much time for. I am saddened it appears that it was for not. I can see constant bickering and scamming and copyright infringements and mis-information and plagiarism. I see the same people doing this stuff, I temporarily suspend them as we are suppose to do and then they are right back the next day, doing the same thing. I am afraid the virtues and high standards that were in place are not at this time; like civility and honesty and intelligent discourse.

Fading away, Scott
  • #45,688
  • Oct 10, 2009 4:58am Oct 10, 2009 4:58am
Quoting kesh
hi, ive been reading this thread for the past 3 months or so and have just registered now to say thanks to jim and also mike whos posts ive found truly eye opening.

i started trading about a year ago, began by reading a couple of books and a few articles on the internet and thought it would be a piece of cake to get the hang of and quicky double, treble, quadrouple my money.

i wont bore you with all the details but i blew 3 x £2000 accounts in that time without having a clue what i was doing. you name it i did it - went on tilt, chased losses,...
Kesh,
Mike would and probably will reference your post too (he's probably still out on the town from last night's Yankee win). I just wanted to say that you are in the right place. You have a great list there. Just keep being patient. Jim has mentioned several times that there is no reason to risk live money until you have a plan, have developed the proper patience/eye for the setups, and have proven yourself profitable on daily charts.
It seems you are well on your way and are taking the right steps. The biggest step I took in my growth was posting potential setups on this thread with a chart. I'd include what I liked and was concerned about the setup. The feedback I received from the experts on price action here steepened my learning curve.
I would also suggest going through all of Mike and James16's posts. Welcome to the thread!

Josh
  • #45,689
  • Oct 10, 2009 5:46am Oct 10, 2009 5:46am
I will Jim and thanks for all tht you do. I can't tell you enough how much this forum has changed my trading. I actually can go into a trade with much more confidence with this method. Keep it up man.

Quoting james16
im 1 year 1 month behind him.

tell him happy birthday from me,

jim
"Luck favors the prepared mind"
  • #45,690
  • Edited 6:21am Oct 10, 2009 6:11am | Edited 6:21am
edit*

found it thanks
"Whether you think you can or can't, you're right." Henry Ford
  • #45,691
  • Oct 10, 2009 7:23am Oct 10, 2009 7:23am
Quoting raczekfx
Amen bro !


Pull back to solid (imo) ppz with 61fib confl. with a tiny stop..
I took it in the morning and had to leave for few hours. Just closed this as we're approaching daily ppz.
It feels almost like you're given a free lunch on a golden platter..
Believe it or not, few guys I know shorted, right when we would've gone long. We're not created equal, and that's a bonus...lol
besides a 61fib level, which other fib levels are more significant?
and when u said 'tiny stop' what do you mean?

congrats on that trade tho!
  • #45,692
  • Oct 10, 2009 7:33am Oct 10, 2009 7:33am
Quoting M42
Hi Mark!
Great trade!

And, how do you like this one?
i'm watching that usd/cad trade as well.

i've drawn a fib retracement and the 61.8 is in the same zone as the weekly pivot...
-can i say they are in 'confluence'?
-and is my fib drawn correctly?

*the turqoise line is the weekly ppz
Attached Image (click to enlarge)
Click to Enlarge Name: confluence.gif Size: 17 KB
  • #45,693
  • Oct 10, 2009 8:18am Oct 10, 2009 8:18am
I want to start to incorporate divergence into my trading so I wanted to look for a recent example. Please take a look at this and tell me whether I'm on the right track.

Looking at the 2-pin there. Yes/No ?
Attached Image
"Whether you think you can or can't, you're right." Henry Ford
  • #45,694
  • Oct 10, 2009 9:18am Oct 10, 2009 9:18am
Quoting smjones
" [i]James16:
i love this place and i love the people that are behind it and i will never speak badly of them but i will tell you what i think about the forum.

forex factory has/is making some terrible mistakes in my opinion and i wont stay unless it stops.

im just a regular guy here and i dont feel high and mighty in any way, shape or form but if my tenure here means anything to them then im gonna try my best to get there attention.

forex factory DOES NOT have to go down the same road that moneytec did just for the sake of "business"

moneytec...
must be very tough for you two, who literally help build this place to what it is

Scott you used to spend so much time cleaning up the crap, those were the days of great modding with you antra etc. I ENJOYED the main side very much too outside of this thread. I go over to just peek in on some friends. That is it.

Mike
  • #45,695
  • Oct 10, 2009 9:21am Oct 10, 2009 9:21am
Quoting kesh
hi, ive been reading this thread for the past 3 months or so and have just registered now to say thanks to jim and also mike whos posts ive found truly eye opening.

i started trading about a year ago, began by reading a couple of books and a few articles on the internet and thought it would be a piece of cake to get the hang of and quicky double, treble, quadrouple my money.

i wont bore you with all the details but i blew 3 x £2000 accounts in that time without having a clue what i was doing. you name it i did it - went on tilt, chased losses,...
Welcome Kesh!

You are doing the right thing by going back to demo and taking things slow. Hell of a good first trade

And yes Josh, last night was nuts. Thought you had us for sure in the 11th , tough loss for you guys

Best
Mike
  • #45,696
  • Oct 10, 2009 9:22am Oct 10, 2009 9:22am
Quoting arthurwtm
i'm watching that usd/cad trade as well.

i've drawn a fib retracement and the 61.8 is in the same zone as the weekly pivot...
-can i say they are in 'confluence'?
-and is my fib drawn correctly?

*the turqoise line is the weekly ppz
Hey arthur

Yep your fib is drawn correct, and yes we are approaching some nice confluence, but we have to be patient and let the market show us its hand

Mike
  • #45,697
  • Oct 10, 2009 9:23am Oct 10, 2009 9:23am
Quoting Scot Pippin'
I want to start to incorporate divergence into my trading so I wanted to look for a recent example. Please take a look at this and tell me whether I'm on the right track.

Looking at the 2-pin there. Yes/No ?

Yep this is divergence.

Hey scottie pippin

As long as price is going in a different direction then your MACD. So price is going lower in this case, and the macd is going higher. So they are diverging

Best
Mike
  • #45,698
  • Oct 10, 2009 9:44am Oct 10, 2009 9:44am
Those were the days eh Mike?

Still, there have been friendships made here that will continue (as will J16 in whatever form), whether FF is still here or not

Have yourself a great weekend matey!

Kind Regards
Steve
Quoting mbqb11
must be very tough for you two, who literally help build this place to what it is

Scott you used to spend so much time cleaning up the crap, those were the days of great modding with you antra etc. I ENJOYED the main side very much too outside of this thread. I go over to just peek in on some friends. That is it.

Mike
  • #45,699
  • Oct 10, 2009 9:49am Oct 10, 2009 9:49am
Thanks Mike,
So would you say that divergence is a must or rather a plus that gives more confidence in a setup? Cause going through I see alot of setups without divergence that I can tell. It seems to show up around double tops/bottoms, has to do with price exhaustion?
"Whether you think you can or can't, you're right." Henry Ford
  • #45,700
  • Oct 10, 2009 10:03am Oct 10, 2009 10:03am
i see quite a good setup forming in the usd/jpy weekly chart

-MACD divergence
-triple bottom?
-hitting previous support

comments/criticism?

my question is, what if i use the daily timeframe to look for an entry point, but the bars DO NOT form any price action bars/pinbars etc at the bottom, is it advisable to trade?

*the turqoise lines are confluence fib levels
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