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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

  • #46,221
  • Oct 17, 2009 1:25pm Oct 17, 2009 1:25pm
Quoting frankm7
I just spotted this one too... Right at a PPZ with almost 200 pips of space to move up... only thing I'm weary about is the strong downward trend. Comments?

By the way, to Mike, I haven't posted lately but I continue to trade! I am proud to say that I have reached a point of equilibrium, lol! I loss trades and then recover them! I know if I start being more patient/picky with my trades i'll start profiting more.
Way to go Frank, this is a big step up from a consistently losing trader. The b/e stage can be just as long and frustrating but it is a good place to move up to. So keep going!

Best
Mike
  • #46,222
  • Oct 17, 2009 1:37pm Oct 17, 2009 1:37pm
Quoting mbqb11
all signs pointing higher
Hi ya Mike..

could you give us a run down with a chart why you say all signs pointing higher please..

thanks,
Adrian
  • #46,223
  • Oct 17, 2009 1:40pm Oct 17, 2009 1:40pm
Quoting aarangio
Hi ya Mike..

could you give us a run down with a chart why you say all signs pointing higher please..

thanks,
Adrian
Hey Adrian

It really isn't anything on the chart. weekly is another BUB(bullish bar), 1.5 is REAL close above, which I am sure has heavy orderflow one way or the other, and the market gets attracted to areas of interest. So my "guess" is we see higher at least at some point in the shorter term. Like most I am interested in seeing what happens a bit higher from where we are now. The only semi trade would be a break of the TBH(two bar high) as a continuation on the daily to 1.5

Hope that helps
Mike
  • #46,224
  • Oct 17, 2009 1:49pm Oct 17, 2009 1:49pm
Quoting mbqb11
Hey Adrian

It really isn't anything on the chart. weekly is another BUB(bullish bar), 1.5 is REAL close above, which I am sure has heavy orderflow one way or the other, and the market gets attracted to areas of interest. So my "guess" is we see higher at least at some point in the shorter term. Like most I am interested in seeing what happens a bit higher from where we are now. The only semi trade would be a break of the TBH(two bar high) as a continuation on the daily to 1.5

Hope that helps
Mike
Cheers..thanks for that Mike
  • #46,225
  • Oct 17, 2009 2:25pm Oct 17, 2009 2:25pm
Quoting mbqb11

Mike
Hey Mike,

Just thought you would like watching this chart.

Seems to be a nice breakout pattern. The "first quick short pullback" already occurred and formed a buob.

I will be looking for another pullback, and for a short from 11.500 if it goes higher.

We can smack the market both ways...let it decide which he prefers

Ben

PS - who remembers my long touch trade last week? 1.5 pip less and I would be holding a 6 R trade now
Attached Image (click to enlarge)
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  • #46,226
  • Oct 17, 2009 3:18pm Oct 17, 2009 3:18pm
Hi,

I wonder if anyone have any comment on EUR/JPY Daily pin bar. Maybe just a coincidence, there was another pin bar last Aug. 24th and the Oct 16th pin bar is at similar location where I believe is a strong resistance.

Rick
Attached Image (click to enlarge)
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I'm a disciplined trader and that's the only way I trade.
  • #46,227
  • Oct 17, 2009 3:40pm Oct 17, 2009 3:40pm
Quoting mbqb11
Hey Arthur

. . . have you followed the j16 minimum requirements on page 1, that is you are able to trade daily/weekly? Before that I am highly against people jumping down.

My other answer would be, I am going to watch the 1.0500 area for more clear signals, bigger bars. Or any potential breakout patterns forming for a more of a base.

Hope that helps

Mike

Let's see if I can explain this comment on Mike's post, but on the current Gbp/Jpy Daily chart. ( Mike, let me know if I'm off track here).

On the Daily Gbp/Jpy we have Price at a very good confluenced location. Nice round numbers, 140.00, 141.00,
50% retrarcement level, and most importantly, a strong PPZ level.

We see some PA developing, but nothing Big and Bold to what we would like to have to counter this strong move down. As days pass, a consolidation area develops forming a Base of which we could play a breakout trade. The Base (or consolidation area or wedge formation, or etc.) is now an added confluence to support a breakout to the north or to the south.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #46,228
  • Oct 17, 2009 4:12pm Oct 17, 2009 4:12pm
Quoting joelcf
The most valuable of all talents is that of never using two words when one will do.
"Brevity is the soul of wit." Shakespeare.

I wouldn't change any words in your posts, joel.
Indicators show the past. Price Action "Indicates" the future.
  • #46,229
  • Oct 17, 2009 4:14pm Oct 17, 2009 4:14pm
Quoting mbqb11
Hey Kiwi

Just wanted to say welcome, you already got the answers I would give so I will just add some links on pinbars to help supplement those answers

http://www.forexfactory.com/showpost...ostcount=22084

Post again if you need help and welcome

Mike
Thanks guys for the replies and the welcome.
I am off to do some learning, but i will be back as i have a serious determination to trade the longer term charts. I just need to learn this method, to enable me to do this.

Thanks again
Lee
PASR student.
  • #46,230
  • Oct 17, 2009 4:30pm Oct 17, 2009 4:30pm
Quoting james16
CHART
I know the feeling. (darn it.)
Indicators show the past. Price Action "Indicates" the future.
  • #46,231
  • Oct 17, 2009 4:38pm Oct 17, 2009 4:38pm
Quoting mbqb11
Hey Fxlan

Nzd/jpy a bit more appealing with the divergence and a bit bigger size. Marked the first trouble areas for you which gives a bit more room with nzd/jpy.

Just my views
Mike
Indicators show the past. Price Action "Indicates" the future.
  • #46,232
  • Oct 17, 2009 4:48pm Oct 17, 2009 4:48pm
Quoting jarroo
Let's see if I can explain this comment on Mike's post, but on the current Gbp/Jpy Daily chart. ( Mike, let me know if I'm off track here).

On the Daily Gbp/Jpy we have Price at a very good confluenced location. Nice round numbers, 140.00, 141.00,
50% retrarcement level, and most importantly, a strong PPZ level.

We see some PA developing, but nothing Big and Bold to what we would like to have to counter this strong move down. As days pass, a consolidation area develops forming a Base of which we could play a breakout...
Dman.....that could be a lovely one!
Attached Image (click to enlarge)
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  • #46,233
  • Oct 17, 2009 4:54pm Oct 17, 2009 4:54pm
Quoting benji533
Dman.....that could be a lovely one!
Exactly.
Indicators show the past. Price Action "Indicates" the future.
  • #46,234
  • Oct 17, 2009 7:37pm Oct 17, 2009 7:37pm
I have a pin PB with medium overbought conditions at at a good horizontal resistance.. Nearest congestion at 80.00 Also have it as a cycle turn date..
Any comments

PS. does any body know how to paste images on the post from a mac.. tried a few things cant manage it.
  • #46,235
  • Oct 17, 2009 9:03pm Oct 17, 2009 9:03pm
Quoting esbatu
Anybody know which thread Rac is referring to?
i suspect it's a thread in the PF.
i better join the PF ASAP..
  • #46,236
  • Oct 18, 2009 12:26am Oct 18, 2009 12:26am
Quoting supremeChaos
i suspect it's a thread in the PF.
i better join the PF ASAP..
Hi SC, thanks.
I was looking all over FF for this thread but no result. And while searching, I found the term RDB and RTL on the old post by Rac. Guess that was in the PF too. Can't find any explanation for those terms
  • #46,237
  • Oct 18, 2009 1:30am Oct 18, 2009 1:30am
Quoting mkashifk
am I somewhere?
You're not in mid air...that's for sure.

Don't get it why you want to sell of 80 though. A sell limit most nearly points towards a potential blind entry that you're looking for which in my book is on (at the price you mentioned) only when price can make it's way down 80 comfortably and then come back to kiss it.

You're on solid ground bro, just keep yourself at it.

g.
I believe . . .
  • #46,238
  • Oct 18, 2009 1:36am Oct 18, 2009 1:36am
Quoting drick008
Hi,

I wonder if anyone have any comment on EUR/JPY Daily pin bar. Maybe just a coincidence, there was another pin bar last Aug. 24th and the Oct 16th pin bar is at similar location where I believe is a strong resistance.

Rick
Looks good Rick,

133 could be a possibility

g.
Attached Image (click to enlarge)
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I believe . . .
  • #46,239
  • Oct 18, 2009 3:43am Oct 18, 2009 3:43am
Quoting ghous
You're not in mid air...that's for sure.

Don't get it why you want to sell of 80 though. A sell limit most nearly points towards a potential blind entry that you're looking for which in my book is on (at the price you mentioned) only when price can make it's way down 80 comfortably and then come back to kiss it.

You're on solid ground bro, just keep yourself at it.

g.
Thanks buddy...the reason for selling it on 80 was on the basis that my wkly chart shows me that it is a potential 'emotional point', and according to martin pring's 'Risk management with technical analysis' and james last video on the guest section, they both (if i hv got it correct) are of the view that the drop should be hard in such circumstances. James also said that he waits for the price to come back like you have pointed out. Please correct me.
  • #46,240
  • Oct 18, 2009 3:49am Oct 18, 2009 3:49am
Quoting jarroo
Let's see if I can explain this comment on Mike's post, but on the current Gbp/Jpy Daily chart. ( Mike, let me know if I'm off track here).

On the Daily Gbp/Jpy we have Price at a very good confluenced location. Nice round numbers, 140.00, 141.00,
50% retrarcement level, and most importantly, a strong PPZ level.

We see some PA developing, but nothing Big and Bold to what we would like to have to counter this strong move down. As days pass, a consolidation area develops forming a Base of which we could play a breakout trade....
Jim you are never off man, ever.

Mike
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