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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

  • #49,601
  • Dec 11, 2009 9:40am Dec 11, 2009 9:40am
Quoting Dan Gilbert
sell triggered, moving stop to B/E at 1.6268.....
Here is the result of this trade....
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Many choose unhappiness over uncertainty.
  • #49,602
  • Dec 11, 2009 9:45am Dec 11, 2009 9:45am
Hi Benji, been watching your trades and i have no words, you have really caught on fast......i was wondering.....you say you have gone through Rac's posts.........are on PF or on some thread?

Cheers and Nice Weekend all

Quoting benji533
No, not a master yet. Gone through only 420 of rac's posts so far, very slowly. Long way ahead of me....

Anyway, I thank god for finding this thread with James, Mike and Mark included.

Trade well mate...
  • #49,603
  • Dec 11, 2009 9:46am Dec 11, 2009 9:46am
Quoting Dan Gilbert
lol, I hope I have one more chance on this EURUSD buy limit.... missed my order by just a few pips....
Guessing you're in now! What's your stop? 1.46?
  • #49,604
  • Dec 11, 2009 9:47am Dec 11, 2009 9:47am
Quoting MattW
Guessing you're in now! What's your stop? 1.46?
1.4589 to be exact. 11 pips below round number.... This thing has a ton of downward momentum, and touch trades are hard. lol. Happy trading.
Many choose unhappiness over uncertainty.
  • #49,605
  • Dec 11, 2009 9:51am Dec 11, 2009 9:51am
Quoting benji533
.
Benji, I'm assuming you took that short based on the 4H PPZ and the 1H PB that formed at the top end of the range, yes? Too bad on my MT4, the PB looks very small :/ Great Job!
  • #49,606
  • Dec 11, 2009 9:56am Dec 11, 2009 9:56am
In long from yesterday (yellow arrow) on the 4 hour pin. It was in traffic, but I hung on trying to stick to my plan with a long bias.

The amazing thing was how it got triggered and how close it got to my stop (see chart). Would I take this trade again? Probably NOT, but I'm happy with the way I managed it once I committed to the trade.

I'm at BE now.
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  • #49,607
  • Dec 11, 2009 9:57am Dec 11, 2009 9:57am
Great stuff on this Thread...this is how I learned how to trade. A mix of Jacko, James16 and Clockwork...

These are the guys you need to be listening to...

Find out how I've been doing, check out my blog.
  • #49,608
  • Dec 11, 2009 9:58am Dec 11, 2009 9:58am
Quoting Danku
Hi Benji, been watching your trades and i have no words, you have really caught on fast......i was wondering.....you say you have gone through Rac's posts.........are on PF or on some thread?

Cheers and Nice Weekend all
I'm not a member in the PF It's all here, and free.

Quoting frankm7
Benji, I'm assuming you took that short based on the 4H PPZ and the 1H PB that formed at the top end of the range, yes? Too bad on my MT4, the PB looks very small :/ Great Job!
Yep, that's right. PA is just another great tool, but the main thing is location. If the bar looks ok relativity to other recent bars, I would say it's ok.
  • #49,609
  • Dec 11, 2009 10:06am Dec 11, 2009 10:06am
Quoting ljr
Sorry if this sounds obvious but have you tried just pressing Alt-PrintScrn. This should save the active window of any application to the clipboard and then paste it to MSPaint or whatever to save it as .jpg or .bmp
I tried that but it just prints it out.........bring up a daily chart and draw pivot areas on at 1.65 and 1.60 and it pretty much sums it up!!

Nathan
  • #49,610
  • Dec 11, 2009 10:13am Dec 11, 2009 10:13am
Quoting ljr
Sorry if this sounds obvious but have you tried just pressing Alt-PrintScrn. This should save the active window of any application to the clipboard and then paste it to MSPaint or whatever to save it as .jpg or .bmp
no no no! Someone posted this a while ago, it's a great tool. Watch the video here for a tutorial:

Inserted Video
Many choose unhappiness over uncertainty.
  • #49,611
  • Edited 10:38am Dec 11, 2009 10:18am | Edited 10:38am
Quoting Dan Gilbert
1.4589 to be exact. 11 pips below round number.... This thing has a ton of downward momentum, and touch trades are hard. lol. Happy trading.
Hey Dan,

How are you doing?

Just a little thought about fiber right now. We have just broken a very long term and established TL. IMO that might and can be a hint for a trend reserve, or at least a pause of it. In addition, you have a weekly GOLD pin bar with some good space to go - hint for dollar strengthening.
On top of all that, it's now Friday..weekend...and price is falling hard.
That is like trying to catch a falling knife even with PA confirmation. So personally touches would be a no-no for me in this case.

Hope that helps a bit...

Take care and keep your great work

Ben
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  • #49,612
  • Dec 11, 2009 11:04am Dec 11, 2009 11:04am
Quoting raczekfx
...just checking if FF came to their senses or we're still commercial...
have you caught that 8 PB with divergence..

btw. how's your fund doing Ax, any progress?
.
I see no sign of xtrader, so I thought I quickly update on this trade.
Some folks here might still enjoy it....

Have a great Christmas and if I don't hear from you, Lots of pips (won) in the New 2010 Year.
.
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File Type: pdf eurusd call.pdf   152 KB | 811 downloads
  • #49,613
  • Edited 12:06pm Dec 11, 2009 12:05pm | Edited 12:06pm
Took the AUD/CAD H4 Long here @.9658 on the BUOB off support. Here's my take on it:

Pros:
BUOB (engulfing last 4 bars)
Off 2 trendlines (PPZ)
Away from traffic
Off 50 fib retrace

Cons:
Still sorta congested area
Not at a swing low

Anybody in on this? Anyone like to comment?

Thanks.

-- Danny
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  • #49,614
  • Dec 11, 2009 12:11pm Dec 11, 2009 12:11pm
Quoting benji533
Hey Dan,

How are you doing?

Just a little thought about fiber right now. We have just broken a very long term and established TL. IMO that might and can be a hint for a trend reserve, or at least...

Thanks benji. This week I only made a single PA trade, and came out at break even on that one, and I'm 0 for 4 on all my touch trades. Some day I will execute a rac trade like you and it will be glorious!


I feel like I usually have the right general idea of where price is going, but I'm always jumping the gun on when I enter the trade. Thanks for your help.
Many choose unhappiness over uncertainty.
  • #49,615
  • Dec 11, 2009 12:39pm Dec 11, 2009 12:39pm
Quoting benji533
Just a little thought about fiber right now. We have just broken a very long term and established TL. IMO that might and can be a hint for a trend reserve, or at least a pause of it. In addition, you have a weekly GOLD pin bar with some good space to go - hint for dollar strengthening.
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Many choose unhappiness over uncertainty.
  • #49,616
  • Dec 11, 2009 12:48pm Dec 11, 2009 12:48pm
Quoting Dan Gilbert
Thanks benji. This week I only made a single PA trade, and came out at break even on that one, and I'm 0 for 4 on all my touch trades. Some day I will execute a rac trade like you and it will be glorious!


I feel like I usually have the right general idea of where price is going, but I'm always jumping the gun on when I enter the trade. Thanks for your help.
Dan,

I had the same result on two "touch" trades this week - both resulted in small losses. I have decided to stick with the J16 basics for now, and once I am confident and competent with that, I will then take another look at touch trading.

So far, I find that if I stick with the regular J16 method, I am usually successful (positive pips) and rarely lose money, and even those losses are small. I just need to get pickier with the trades I take.
  • #49,617
  • Dec 11, 2009 12:57pm Dec 11, 2009 12:57pm
Quoting Wamo
Dan,

I had the same result on two "touch" trades this week - both resulted in small losses. I have decided to stick with the J16 basics for now, and once I am confident and competent with that, I will then take another look at touch trading.

So far, I find that if I stick with the regular J16 method, I am usually successful (positive pips) and rarely lose money, and even those losses are small. I just need to get pickier with the trades I take.
I'm pursuing both forms of trading simultaneously, the j16 PA method, and the rac-style touch trades. And yes, the j16 method is much much more consistent - I very rarely have something worse than a break even trade. Touch trades.... eh.... not so much . All on demo though so at least this is not costing me anything.
Many choose unhappiness over uncertainty.
  • #49,618
  • Dec 11, 2009 1:01pm Dec 11, 2009 1:01pm
Quoting Dan Gilbert
I'm pursuing both forms of trading simultaneously, the j16 PA method, and the rac-style touch trades. And yes, the j16 method is much much more consistent - I very rarely have something worse than a break even trade. Touch trades.... eh.... not so much . All on demo though so at least this is not costing me anything.
Ditto that. My problem with touch trades is identifying my stop loss location. I'm assuming a previous bar or set of bars highs or lows? TIA.
  • #49,619
  • Dec 11, 2009 1:42pm Dec 11, 2009 1:42pm
Quoting Dan Gilbert
no no no! Someone posted this a while ago, it's a great tool. Watch the video here for a tutorial:

http://www.youtube.com/watch?v=7SFWSB6Zl98
Our work network is NT and I cannot use that great feature like I could on my computer. I will post the Eur/Aud daily chart with my zones over the weekend to show what I am talking about.

Nathan
  • #49,620
  • Dec 11, 2009 1:57pm Dec 11, 2009 1:57pm
Quoting dobe_r_man
Our work network is NT
Wow...isn't it about time for an upgrade??
skype: ststroud. let's talk trading.
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