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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

  • #49,101
  • Dec 2, 2009 9:12pm Dec 2, 2009 9:12pm
Quoting KissFan
I just moved this trade to BE. It's currently up 60 pips. This is one of the first trades that I learned to take waaaaay back when I started learning this stuff. It is a trade straight out of Mr Fudd's playbook.

http://www.james16group.us/Guests/guestmaterial.html (see mbq11's "pinbar introduction" video)

We must be patient enough to wait for them. Not all of them are going to take off like this one. All of these can be managed to reduce the initial risk. You da man Mike!

K.I.S.S.

This is an extremely good runner so far. I assume you are looking to hold this for a loooong time considering the weekly divergence you posted on the original post?


Also thank you for enjoying my pictures lol.... I find that making those actually help me learn.
Many choose unhappiness over uncertainty.
  • #49,102
  • Dec 2, 2009 9:21pm Dec 2, 2009 9:21pm
Quoting Dan Gilbert
This is an extremely good runner so far. I assume you are looking to hold this for a loooong time considering the weekly divergence you posted on the original post?


Also thank you for enjoying my pictures lol.... I find that making those actually help me learn.
It's really tough for me to hold an hourly chart trade for more than a couple of days at the longest. I'd like to see this one hit the 88.60 area for TP. If UJ gets to that point I will likely close the trade. I see a daily trendline, resistance and a major fib in that area. If I can get back in long after it retraces from there I certainly will. I'll do my best to keep you informed on this one so that we can both learn from the management of this trade.

K.I.S.S.
  • #49,103
  • Dec 2, 2009 9:22pm Dec 2, 2009 9:22pm
Hello everyone,

I am a novice and have decided to check out this thread as I have been recommened it many times. As I really want to learn Price Action, Support and Resistance I would be gratefull if you could get me up to speed. I have a confession, I just don't have the time to go throught the entire thread, so even if anyone could help point me in the right direction on where to start which posts to refer to for the basic etc... Thanks heaps in advance.
  • #49,104
  • Dec 2, 2009 9:41pm Dec 2, 2009 9:41pm
Quoting magisana
Hello everyone,

I am a novice and have decided to check out this thread as I have been recommened it many times. As I really want to learn Price Action, Support and Resistance I would be gratefull if you could get me up to speed. I have a confession, I just don't have the time to go throught the entire thread, so even if anyone could help point me in the right direction on where to start which posts to refer to for the basic etc... Thanks heaps in advance.
Hello magisana. A couple of pointers for you sir. Most of us will not "learn" this in a short few months. I am humbled daily when I think of how little I "know". Learning how to trade to the point that I am trading now has taken me no less than a couple of thousand hours over the past two years of reading trading psycology, studying how to plot support and resistance/trendlines/fibs understanding supply and demand, order flow, confluence, "first time back" and finally just spending the time with charts becoming more proficient in seeing how price will likely behave at certain areas. I wish you the best of luck here. "Here" is where you can learn all of the above. My advice is (and you asked) is to read the stuff from the most senior posters and skip the others. Once you realize that you have found the real deal, you will not have any problem going back and spending the time to read all of this great information.

Sincerely,

K.I.S.S.
  • #49,105
  • Dec 2, 2009 10:13pm Dec 2, 2009 10:13pm
Quoting magisana
Hello everyone,

I am a novice and have decided to check out this thread as I have been recommened it many times. As I really want to learn Price Action, Support and Resistance I would be gratefull if you could get me up to speed. I have a confession, I just don't have the time to go throught the entire thread, so even if anyone could help point me in the right direction on where to start which posts to refer to for the basic etc... Thanks heaps in advance.
If you want a shortcut to the good posts, here is a good place to start: http://www.forexfactory.com/showpost...ostcount=23250

That post is linked on the very first post of this thread, along with a lot of other links to valuable posts. Also, be sure to check out all of the guest videos on the pf, here: http://www.james16group.com
  • #49,106
  • Dec 2, 2009 10:43pm Dec 2, 2009 10:43pm
Quoting joelcf
price action trading is a branch of technical analysis
i thought this was a 'typo' or u simply put your finger on the space bar for too long
  • #49,107
  • Dec 2, 2009 10:44pm Dec 2, 2009 10:44pm
Quoting Dan Gilbert
...
Also thank you for enjoying my pictures lol.... I find that making those actually help me learn.
i think many people learn from it too.
  • #49,108
  • Edited 2:23am Dec 3, 2009 1:41am | Edited 2:23am
Quoting breakfastbar
Ah, the EURJPY short didn't work out. I was so confident of this trade, too -- but it's the trades that I'm nervous about that usually turns into winners. Interesting that everybody and their mothers are beating up on the Yen lately. Let's wait for the next opportunity.

Edit: In the spirit of learning, if anybody considered taking this trade before, but decided not to, can you please share your thoughts? Thanks.
That trade didn't work out for me and I was confident as well.
Really, I didn't see one reason to not take it (maybe the look of the 4h PB), it happens.
Maybe should we have to move the S/L to BE when our profit reached ~30pips.
Otherwise EURUSD, GBPUSD,AUDUSD coming to nice PPZ's
Edit: I like the GBPUSD PB (4h & 1h) which is also at 61 fibo.
  • #49,109
  • Dec 3, 2009 2:07am Dec 3, 2009 2:07am
TL breakout + retrace + PB
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  • #49,110
  • Dec 3, 2009 3:00am Dec 3, 2009 3:00am
Quoting breakfastbar
Ah, the EURJPY short didn't work out. I was so confident of this trade, too -- but it's the trades that I'm nervous about that usually turns into winners. Interesting that everybody and their mothers are beating up on the Yen lately. Let's wait for the next opportunity.

Edit: In the spirit of learning, if anybody considered taking this trade before, but decided not to, can you please share your thoughts? Thanks.
Breakfast, here's my picture of that pair. The reason I chose not to take it is that I considered the trendline broken and there was a risk it would hold, particularly as I have 1.3100 as a PPZ.
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  • #49,111
  • Dec 3, 2009 3:17am Dec 3, 2009 3:17am
Breakout and retrace.
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  • #49,112
  • Dec 3, 2009 3:19am Dec 3, 2009 3:19am
I took the GBPUSD short trade (PB at PPZ), 30pips profit, S/L moved at BE.
  • #49,113
  • Dec 3, 2009 4:37am Dec 3, 2009 4:37am
Quoting nasir.khan
TL breakout + retrace + PB
Very nice trade. I wish I woke up earlier today
The nail that sticks out gets hammered back in
  • #49,114
  • Dec 3, 2009 4:43am Dec 3, 2009 4:43am
Quoting nasir.khan
TL breakout + retrace + PB
Beautiful!

Nice to see you doing well bro.
I believe . . .
  • #49,115
  • Dec 3, 2009 5:07am Dec 3, 2009 5:07am
I just wanted to show why I talked out traders against the short position yesterday using the 1 hr chart

As expected the AUD has made a full retrace against the short potential...
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Without women, money would have no meaning - Aristotle Onassis
  • #49,116
  • Edited 6:07am Dec 3, 2009 5:14am | Edited 6:07am
Quoting ghous
Beautiful!

Nice to see you doing well bro.
Thanks Ghous and Nology.

Btw waiting for your clean white charts with aqua boxes.
  • #49,117
  • Edited 5:30am Dec 3, 2009 5:18am | Edited 5:30am
Quoting nasir.khan
Thanks man.

Btw waiting for your white charts with aqua boxes.
I might consider a shift back to the black background,

White makes me dizzy if I stare too long at my screen...

Bet Jarroo's got some load on his nose too...
I believe . . .
  • #49,118
  • Dec 3, 2009 5:30am Dec 3, 2009 5:30am
Quoting ghous
I might consider a shift back to the back background,

White makes me dizzy if I stare too long at my screen...

Bet Jarroo's got some load on his nose too...
well i was always impressed by your charts but when i put them on i couldn't take it more then 3 minutes.

well yesterday it was revealed that i need to see a doctor.

http://library.thinkquest.org/C005949/fun/eyechart.htm

20/50
  • #49,119
  • Dec 3, 2009 5:30am Dec 3, 2009 5:30am
Hey guys what do you do if you are caught in this sideways action?

tnx
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  • #49,120
  • Dec 3, 2009 5:42am Dec 3, 2009 5:42am
Try getting your charts to the daily time frame, the shorter time frames, frankly are not worth it, here is my take on the usdcad daily chart
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Without women, money would have no meaning - Aristotle Onassis
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