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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

  • #48,821
  • Nov 27, 2009 12:41pm Nov 27, 2009 12:41pm
Yen crosses look cool for next week.

Sure rac and triger are up to something
  • #48,822
  • Nov 27, 2009 12:52pm Nov 27, 2009 12:52pm
Quoting mbqb11
Monday will be back to business and traders will resume what they look for(whatever that may be) just as they did before turkey day.
Moving average crosses and bollinger band touches?


not hatin'......

Many choose unhappiness over uncertainty.
  • #48,823
  • Nov 27, 2009 1:42pm Nov 27, 2009 1:42pm
Can you folks tell me if i am looking at this chart right. I am on the daily chart on the cable. It has a nice long pin bar forming. It has retraced to the 50% fib, and the 1.6300 round number. This appears to ba a fairly solid support. This also looks like a swing low. It would look to me to be an A+ trade as i understand you folks.
Attached Image (click to enlarge)
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  • #48,824
  • Nov 27, 2009 2:09pm Nov 27, 2009 2:09pm
From my little experience, i would term that an A+ though the PB is not quite on a swing low.............but i already got my Buy Limit in place...........on both gbpusd & gbpchf though gbpjpy looks much better.........

Some help Richard, what software is that you are using on your charts?Cheers

Quoting R Richards
Can you folks tell me if i am looking at this chart right. I am on the daily chart on the cable. It has a nice long pin bar forming. It has retraced to the 50% fib, and the 1.6300 round number. This appears to ba a fairly solid support. This also looks like a swing low. It would look to me to be an A+ trade as i understand you folks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy (daily).gif Size: 19 KB
  • #48,825
  • Edited 3:09pm Nov 27, 2009 2:45pm | Edited 3:09pm
I'm going to go ahead and post my intraday winning trade of the day.

inside bar on EUR/USD 4 hr chart with strong confluenced area.

The other 50% of my position is still open...

I usually don't prefer inside bars to make my trades, but this area was so strong that I knew I had to catch something. The inside bar was optimal size so I went for it.

Trade was managed automatically with the j16 manager EA
Attached Image (click to enlarge)
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Many choose unhappiness over uncertainty.
  • #48,826
  • Nov 27, 2009 3:04pm Nov 27, 2009 3:04pm
Quoting R Richards
Can you folks tell me if i am looking at this chart right. I am on the daily chart on the cable. It has a nice long pin bar forming. It has retraced to the 50% fib, and the 1.6300 round number. This appears to ba a fairly solid support. This also looks like a swing low. It would look to me to be an A+ trade as i understand you folks.
Hey Richard

Yeah just be careful since this isn't really a great swing low. It is more minor swing low. Also what is worrying me about a lot of these bars that they might just barely close within the prior bar at the very low of it. That is always a caution sign for me to at least if I do play one to play it tight.

I just marked up a chart to show visually the difference of the swing points.

Best
Mike
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  • #48,827
  • Nov 27, 2009 3:14pm Nov 27, 2009 3:14pm
Quoting mbqb11
Hey Richard

Yeah just be careful since this isn't really a great swing low. It is more minor swing low. Also what is worrying me about a lot of these bars that they might just barely close within the prior bar at the very low of it. That is always a caution sign for me to at least if I do play one to play it tight.

I just marked up a chart to show visually the difference of the swing points.

Best
Mike

Mike made a very similar response to me in regards to the EUR/AUD daily pin that formed LAST Friday. He was right.
Many choose unhappiness over uncertainty.
  • #48,828
  • Nov 27, 2009 3:25pm Nov 27, 2009 3:25pm
Thanks guys. that helps a lot. The software i use for the pics is called Snagit. Works great.
  • #48,829
  • Nov 27, 2009 3:47pm Nov 27, 2009 3:47pm
I am looking at 4 hour charts and note pivot levels and s/r levels.
Only a demo so far but my idea is to put ocu orders either side of Pinbars or breakout bars(engo=ulfing bar).
Is this better than jumping straight in?
(In other words to let the price come to me)
Thanks
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every Saint has a past. Every Sinner has a Future
  • #48,830
  • Edited 6:02pm Nov 27, 2009 5:02pm | Edited 6:02pm
Quoting raczekfx
btw: this guy on a bike was once also under a 9 month mentorship....
no more chinese food for me
Rac,

I will not be eating any Chinese food in a hurry after seeing this

thanks for sharing.
  • #48,831
  • Edited 6:01pm Nov 27, 2009 5:11pm | Edited 6:01pm
I entered a touch trade just above the 140 area on GBPJPY today. Great PPZ area combined with divergence and a one way market that was bound (probably) to retrace. Closed for a modest profit but wish I had kept hold of it... no problem though, more opportunities round the corner

Attached screenshot shows what I saw as I entered the trade.

Some nice setups for early next week. USDJPY looks interesting for one.
Attached Image (click to enlarge)
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  • #48,832
  • Nov 27, 2009 6:48pm Nov 27, 2009 6:48pm
Quoting bundyraider
There's more to this longer time frames gig than meets the eye.

The great aspect about trading those longer time frames is instilling that ability to wait for the best trades and, once in one, to wait out a trades various "noise" phases . If you can do that (i.e not checking back every hour on a daily or weekly trade), you've developed a great skill that will work with ALL time frames later on. If you need to watch certain levels in between, then set alerts.

That ability to wait for the correct opportunities is a good one to have.
no truer words av been spoken!!! wish i could transfer this ability to my real account!!!
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PATIENCE... DISCIPLINE
  • #48,833
  • Edited 7:48pm Nov 27, 2009 7:33pm | Edited 7:48pm
Good to see all of You here.
Hope that lots of You are having a nice and family Thanksgiving Holiday now You and Your families are havinga a warm, nice and unforgetable time again.

Everybody including myself are licking our chops :o))) on the set ups. I like for instance USD/JPY only. I don't know why I feel some of those bars are just continuation bars (so at the end beginning a new trend this time down for some correction).
They just look like closed below their (so far) respected resistance zones, so what should happen in the good setup - it should test the resistance line from below- the best possible entry and then down or I'm just imagining ???
I will be haunting on Sunday open as well, ok then...See whatta happens :O)))) and lets have some more pips Chaps
Again
Kind regards
  • #48,834
  • Nov 27, 2009 8:15pm Nov 27, 2009 8:15pm
i am really not to convinced on all these yen pinish looking bars.
If you played any trades from support touches think you would be in the box seat now for sure

i guess thats why we dont enter on the close to save our bacon
  • #48,835
  • Nov 27, 2009 8:23pm Nov 27, 2009 8:23pm
Quoting supermatt
i am really not to convinced on all these yen pinish looking bars.
If you played any trades from support touches think you would be in the box seat now for sure

i guess thats why we dont enter on the close to save our bacon
Well to be honest I've played only one touch - EUR/USD (that wasn't bad at all to finish the week) :-)
No, my miniscule capital preservation is a golden rule, never expose the account to too may trades in the same direction - I've been there.
Only pair worth looking for me is U/J as touch of the 1995 level, of course it can go down as well.
  • #48,836
  • Nov 28, 2009 2:22am Nov 28, 2009 2:22am
Quoting g_j_hook@yah
no truer words av been spoken!!! wish i could transfer this ability to my real account!!!
WoW...trading with 5 full lot on 5k account...Where is your money managment man?

Thats great you doing well...keep on doing so.

Regards,
  • #48,837
  • Nov 28, 2009 3:49pm Nov 28, 2009 3:49pm
Quoting james16
12. HOW MANY EDUCATIONAL SITES HAVE HELPED 1000 TIMES MORE PEOPLE FOR FREE THAN PAID MEMBERS?
Im proud to be one of such person who has benefited from Jim's amazing priceless works.I know one thing for sure, God in heaven has prepared alot of award to you and others who made this thread PRICELESS.Thank you jim!
Respect a man, and he will do all the more.
  • #48,838
  • Nov 28, 2009 4:37pm Nov 28, 2009 4:37pm
Quoting urchman
Im proud to be one of such person who has benefited from Jim's amazing priceless works.I know one thing for sure, God in heaven has prepared alot of award to you and others who made this thread PRICELESS.Thank you jim!
Nice.
Ive done a few things for him but I never considered this to be one of them.

Prayers may be answered but that does not equate to a Free Pass.

This section entails attention & judicion.

Pacs vobiscum.

{please; just keep your wits about you.}
  • #48,839
  • Nov 28, 2009 5:38pm Nov 28, 2009 5:38pm
Quoting xtrader88878
Hi All

I know I probably will be flamed or even cost me this account (but what the heck) for saying this.

Does giving live trading signals equate with catching a fish for you?
Does giving live trading signals meant that people in this forum will never know how to trade?

All those rants about live signals = spoonfeeding has never been proven justified or true.

Here something about myself and my work. I am a full time FX trader myself working in a investment bank and have never been exposed to FX previously. Through connections and good acadamic...
There are many "before the fact" setups on this thread all the time. You are either not paying attention or you haven't taken the time to read the thead.

http://www.forexfactory.com/showpost...ostcount=48258

http://www.forexfactory.com/showpost...ostcount=25758


We look for PA setups at great locations taught and discussed by James16, Mike and many others. When a setup is presented, many different approaches (since we have many different personalities) can be applied in many different ways.

James16: "This is why i dont comment on live trades. people are always better off learning from how they react personally."

http://www.forexfactory.com/showpost...ostcount=25908


"I will know when he is eating, when he is taking a bomb, . . " God forbid your mentor passes away or leaves town.

By developing your own approach, your own style while learning the J16 methology and proving it to yourself time and time again . . . .your next winning trade will be yours not your mentor's.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #48,840
  • Nov 28, 2009 6:07pm Nov 28, 2009 6:07pm
Quoting jarroo
There are many "before the fact" setups on this thread all the time. You are either not paying attention or you haven't taken the time to read the thead.

http://www.forexfactory.com/showpost...ostcount=48258

http://www.forexfactory.com/showpost...ostcount=25758


We look for PA setups at great locations taught and discussed by James16, Mike and many others. When a setup is presented, many different approaches (since we have many different personalities) can be applied in many different...
Those sorts of posts are usually a thinly disguised advert for a signal service. And given how popular the J16 thread is, people try and ride the traffic and promote themselves. Usually they come in here, scream at everyone, stir the point and then announce they are going to set up a paid service. It's usually utter lies and garbage and we get one every now and again.

Anyone who's new, trust me on this as someone who has been down this road. I know you are craving a shortcut like a man crawling through the desert craves water.. I did too. I gave people money to trade for me while I learnt this stuff. Makes sense I thought. I could even follow their trades while I learnt. Well I lost more than most people make in a year. One trader blew up spectacularly and margin called the account. I say this for one reason and one reason only. To let you know...


....there are no shortcuts.

There really aren't. The thing that helps, after understanding the material, is practice and chart time. A serious approach plus months of experience.....well there's no substitute. But those moments when things begin to click and you suddenly realise you know a little bit about this.....it's like climbing a mountain and stopping to look down and think "wow....base camp is a long way away...I really have come far". Those are sweet moments.

I really don't think it's skill that separates the winners from the losers. I think it's persistence. Most people bet too big too early and never give themselves the chance to stay in the game. Which is a real shame. Because just by giving yourself a little time and wiggle room, you accrue that invaluable experience which adds up to success.
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