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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

  • #50,761
  • Edited 7:21am Jan 5, 2010 7:09am | Edited 7:21am
you have all right and thanks for the support btw because i saw that a lot of you made journals i decided to make screenshots of my trades and posible trading oportunities and save it so that later i can check it out and see when i made the mistakes and what was good so that i will know what to do in the future.
  • #50,762
  • Edited 2:13pm Jan 5, 2010 7:38am | Edited 2:13pm
Quoting StoragePro

You might notice patterns that emerge - I did with me. There are times where I do not trade as a result of what I have learned about me.
.
Any patterns having to do with losses after a certain percentage gain? Curious because recently read some of Millionaire Traders and a couple guys spoke about their goal for daily/weekly. After they met their goal they would stop trading for the day/week because they had learned over time that they performed poorly after that particular threshold. I noticed something similar today in just my day trading w the journal. I passed up a decent setup but after my first profit I took a couple trades that were much worse.

I would think that shutting down for the week would cause you to miss opportunities. In their case they had proven over time that it became a negative proposition. Thanks for the encouragement SP, I can already tell that mistakes become glaring with good journaling.
"Whether you think you can or can't, you're right." Henry Ford
  • #50,763
  • Jan 5, 2010 7:40am Jan 5, 2010 7:40am
Quoting supremeChaos
to u, what's the significance of 1.5750 & 1.5550?
1.5750 = weekly support?

curious as always, thanks Sir
EDIT: i remember this post in mid-December.
gbp bear bear bear, lol http://cdn.forexfactory.com/images/smilies/yim/smug.gif
Let's see..
SC-

Here is a simple chart. I see bar highs on the way down at these levels. Also round number and fib confluence at the same levels.

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdsc2.gif Size: 45 KB
  • #50,764
  • Jan 5, 2010 7:52am Jan 5, 2010 7:52am
Yen pairs be actin' a fool
Many choose unhappiness over uncertainty.
  • #50,765
  • Jan 5, 2010 8:03am Jan 5, 2010 8:03am
Quoting gasgas
In other words ''clear your head after each trade'' no matter how it ends, wright?
Absolutely.
I believe . . .
  • #50,766
  • Jan 5, 2010 8:30am Jan 5, 2010 8:30am
Ej 4H IPB

Swing high

Divergence

(not at all happy abt missing this one)
Attached Image
I believe . . .
  • #50,767
  • Jan 5, 2010 8:38am Jan 5, 2010 8:38am
GU
Attached Image
Many choose unhappiness over uncertainty.
  • #50,768
  • Jan 5, 2010 8:39am Jan 5, 2010 8:39am
Quoting ghous
Ej 4H IPB

Swing high

Divergence

(not at all happy abt missing this one)

Hy ghous,

If I may ask, what was the bar that you refer on your post?

Is it the tiny green PB that reaches to the top?
  • #50,769
  • Jan 5, 2010 8:42am Jan 5, 2010 8:42am
anyone spotting that 2 day pinbar on AUD/JPY which is forming right now ?

any thoughts `?
Never whishing, always trading.
  • #50,770
  • Jan 5, 2010 9:03am Jan 5, 2010 9:03am
Quoting Dan Gilbert
GU
way to close to 1.6 big round no
Simplicity is the key to success
  • #50,771
  • Jan 5, 2010 9:15am Jan 5, 2010 9:15am
Quoting raczekfx
why anticipate...?
What if it keeps going and going..?

When in doubt, I make things even easier for myself.
I plot the line chart and go with the flow. try it one day.
You WILL leave the crowd behind much faster, than you think...

already said too much.... I .
thanks for putting your valuable thoughts over my plans Rac. got the same message from "reminiscense of a stock operator". but I always get afraid by thinking that I am buying at the top or selling at the bottom so I wait for the retraces. and I have a little experience of tradiing in the stock market where the mentallity is that it can't go up cause it has gone up so much already. thanks for the tip about the line chart I will do my RnD on it.
  • #50,772
  • Jan 5, 2010 9:58am Jan 5, 2010 9:58am
Quoting est1958
can we consider that it pinbar ---
Hey EST

If we combined all those bars we would get a 9hr pinbar. Many people do this, because they know that the price bars are merely the trigger and it is LOCATION that is the most important. I would caution against this in your early stages and sticking to looking for the traditional one bar patter that James teaches as the pin. This will prevent a lot of overtrading that combining all bars can lead to without a further understanding of the best areas to trade them out.

Take care
Mike
  • #50,773
  • Jan 5, 2010 9:59am Jan 5, 2010 9:59am
Hiya everyone,
I have been following the enthusiastically over the past 2 years. been busy doing Master :-(

Hope to post some more charts for comment + feedback.

I been faffing round in indicator hell for a while even though I had been reading J16. Got to a point where I just cleared charts and looked at Weekly & Daily. focusing on Swing Highs & Lows. Also utilizing PA patterns at these points.

Just got to work out how to be more consistent

Fantastic thread to learn from. I just wanted to chip in and say thanks to the contributors .. but much has already been said...
cheers
Rev
  • #50,774
  • Jan 5, 2010 10:02am Jan 5, 2010 10:02am
err yeh forgot to attach chart

Rev

Quoting Revstar
Hiya everyone,
I have been following the enthusiastically over the past 2 years. been busy doing Master :-(

Hope to post some more charts for comment + feedback.

I been faffing round in indicator hell for a while even though I had been reading J16. Got to a point where I just cleared charts and looked at Weekly & Daily. focusing on Swing Highs & Lows. Also utilizing PA patterns at these points.

Just got to work out how to be more consistent

Fantastic thread to learn from. I just wanted to chip in and say thanks to the contributors...
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy - sold 1h pin + r.gif Size: 13 KB
  • #50,775
  • Jan 5, 2010 10:19am Jan 5, 2010 10:19am
Quoting squeezy
way to close to 1.6 big round no
That is right. perfect setup. or you could close half the position @ 1.60 and stick a 50-65 trailing stop on the remainder of your position, see if you can catch anything extra, at no expense
Many choose unhappiness over uncertainty.
  • #50,776
  • Jan 5, 2010 10:28am Jan 5, 2010 10:28am
Quoting Hova
anyone spotting that 2 day pinbar on AUD/JPY which is forming right now ?

any thoughts `?
I definitely see it as well, although my only concern is this pair and the Nzd/Jpy pair are the stronger pairs of the xxx/Jpy basket. If you compare it to gbp/jpy, usd/gpy or eur/jpy you will see what I mean.

Doesn't mean it won't work out (assuming it closes as 2-day pin), but if there is a reversal in these pairs you would expect this pair to bounce back stronger than the others.

It is a little late to the party in my opinion after further study. Having said that, it almost guarantees you success with this trade.........ha ha.

Nathan
  • #50,777
  • Jan 5, 2010 10:32am Jan 5, 2010 10:32am
Quoting supremeChaos
if joel is referring to TiaForex... check his own thread (it was discontinued).
if it's not the one, then he must be referring to Aaron's journal inside the James16 PF.
Sorry - I was referring to the latter.
When you have to shoot, shoot. Dont talk.
  • #50,778
  • Jan 5, 2010 10:38am Jan 5, 2010 10:38am
Quoting dobe_r_man
I definitely see it as well, although my only concern is this pair and the Nzd/Jpy pair are the stronger pairs of the xxx/Jpy basket....
so you would take it ?

nzd/usd also looks like a pin today

note to me : must become more picky !
Never whishing, always trading.
  • #50,779
  • Jan 5, 2010 10:49am Jan 5, 2010 10:49am
Quoting Hova
nzd/usd also looks like a pin...
This is what I'm looking at for NZD/USD. I've still got 3 Hours before bar close -- it's a long time where a lot can happen.

.7300 is a solid PPZ on this pair... personally, I'll consider where the close is before taking it.

Just my thoughts.

-- Danny
Attached Image
  • #50,780
  • Jan 5, 2010 10:55am Jan 5, 2010 10:55am
Quoting Hova
so you would take it ?

nzd/usd also looks like a pin today

note to me : must become more picky !
No...personally I won't but that shouldn't affect your decision.

Regarding the Nzd/Usd, that is a small pin that would be going right back into a Buob. I wouldn't play this either (and I don't mean to sound negative about these trades), but if you did I would be concerned .7300 might hold as support.

These may both work out well, but over the long run I think you are 50/50 at best on these types of setups.

Nathan
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