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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

  • #51,641
  • Jan 15, 2010 1:34am Jan 15, 2010 1:34am
Quoting mike w
That's all it's been lately brother! Not much of anything else too exciting PA-wise other than the gold trade that you already saw. Those false break IBs are my favorite ones to be honest. Those are the one that break with conviction after the initial fake out, which is sweet.

Yeah those are nice. You gotta love the low risk charteristic that the possess. I like how you look down a time frame, looking for hints (i.e. PA) for clues to give yourself maybe even a smaller risk for a bigger pay out.
Time to check out some of your older posts where you talk about them.

There's aways a way to skin that cat.

Thanks Mike W.
Indicators show the past. Price Action "Indicates" the future.
  • #51,642
  • Jan 15, 2010 1:40am Jan 15, 2010 1:40am
wow jaroo glad you are back among us, is always a pleasure reading your post.

and with all those welcoming is seems that your present is very appreciate and valuable in here and people are strongly care about you.

you are more than welcome jaroo, hope you enjoyed the extra time wisely.

looking forword to your post.

wish you the best!!
  • #51,643
  • Jan 15, 2010 1:42am Jan 15, 2010 1:42am
Things that make you go Hmm
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  • #51,644
  • Jan 15, 2010 1:48am Jan 15, 2010 1:48am
Welcome back Jarroo
  • #51,645
  • Jan 15, 2010 1:53am Jan 15, 2010 1:53am
Quoting triger88990
wow jaroo glad you are back among us, is always a pleasure reading your post.

and with all those welcoming is seems that your present is very appreciate and valuable in here and people are strongly care about you.

you are more than welcome jaroo, hope you enjoyed the extra time wisely.

looking forword to your post.

wish you the best!!
Thanks triger. It's great to be back. Its fun reading all the post to catch up.
Indicators show the past. Price Action "Indicates" the future.
  • #51,646
  • Jan 15, 2010 1:55am Jan 15, 2010 1:55am
Quoting pipmyride
ive been waiting for a sign !
This trade is going slow, but starting to look good! initial 22 pip draw down, 40 pips up, no indies!! http://cdn.forexfactory.com/images/icons/icon10.gif
What you do is a reflection of you....what I do is a reflection of me.
  • #51,647
  • Jan 15, 2010 2:05am Jan 15, 2010 2:05am
Quoting benji533
Welcome back Jarroo
Thanks, Ben. I see your still rocking and rolling, buddy. We'll be calling you Beczekfx in no time.
Indicators show the past. Price Action "Indicates" the future.
  • #51,648
  • Jan 15, 2010 2:13am Jan 15, 2010 2:13am
Quoting LasVahGoose
I think that is a safe bet. Now we must ask, Where is BundyRaider?
lol, is it a trend?
well, i believe he is lurking &/or on a much shorter vacation than jarroo's.
i PM'ed him last December, he replied... so nothing to worry, i guess.
  • #51,649
  • Jan 15, 2010 2:19am Jan 15, 2010 2:19am
Annular solar eclipse, anyone?
will go out & watch it now...
  • #51,650
  • Jan 15, 2010 2:29am Jan 15, 2010 2:29am
Quoting james16
CHARTS
Quoting TiaForex
Nice to see you posting Jim. Your charts always bring home the simplicity of this business to me, especially when a common sense approach is taken.

Looking at that UCAD chart reminded me of that. A few trades a year and sitting tight and adding in....

A Jim chart always makes my day.
You can say that again Aaron. Whenever you need to step back and refocus on what we are trying to do here, take a day and review as many james16 charts and/or videos and relax and soak it in. It really puts you back on the right path.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #51,651
  • Jan 15, 2010 2:30am Jan 15, 2010 2:30am
Quoting jarroo
Thanks, Ben. I see your still rocking and rolling, buddy. We'll be calling you Beczekfx in no time.
Thanks buddy. Actually I have decided to take some timeout from the thread recently. It's been roughly 6 month since I get to know what forex is, and I have gone through a lot of ideas, methods and screen hours since then.

I now have enough experience to understand what really matters, what fits and will fit me in the best way. How I take the best tools for this mater from each method, make my own way - and most importantly, stick with it from now on. How I can be more patient, and sit on my hands longer. Till now it was more like a playstation game for me...but my account grew..and it's time to make it a business.

But I'm sill here, lurking, so don't stop posting bro

Ben
  • #51,652
  • Jan 15, 2010 2:36am Jan 15, 2010 2:36am
Quoting benji533
Thanks buddy. Actually I have decided to take some timeout from the thread recently. It's been roughly 6 month since I get to know what forex is, and I have gone through a lot of ideas, methods and screen hours since then.

I now have enough experience to understand what really matters, what fits and will fit me in the best way. How I take the best tools for this mater from each method, make my own way - and most importantly, stick with it from now on. How I can be more patient, and sit on my hands longer. Till now it was more like a playstation...
That's great Ben.

Just remember its a marathon not a sprint. But I think you already know that. We all enjoy your charts as well brother.
Indicators show the past. Price Action "Indicates" the future.
  • #51,653
  • Jan 15, 2010 2:46am Jan 15, 2010 2:46am
Quoting TiaForex
That last reply I wrote got me thinking about something that's been on my mind a bit lately but it was a little off the topic of what atclarkson wrote so I thought I'd just add a footnote here.

I read something once that the great Darkstar posted. It made no sense to me at the time. He said that the biggest mistake people make is thinking that trading is a science not an art. Jim then said something similar on a webinar of his. It haunted me and only now am I beginning to realise what it means.

What I wanted when I started was the reassurance...
Another Tia classic. Good stuff my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #51,654
  • Jan 15, 2010 3:09am Jan 15, 2010 3:09am
what if this closes as a PB tt
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  • #51,655
  • Jan 15, 2010 3:35am Jan 15, 2010 3:35am
Hello ezz,
i'll pass on this one.

fairly small PB with huge bearish candle prior.
plus it's not in an 'ideal' swing low ('ideal' is a extreme swing low with 'space' to the left). this one is right in the middle of traffic (see the range on the left).

if ever this one does move up, obvious immediate resistance is around the 1.4450-80 area.

in summary, a PA setup in itself is not enough for us to decide & trade it. we must consider location (which is more important than PA size), & the environment price is in (trending or ranging; candle/s prior the PA setup; are we in 'space' or are we in traffic?; etc).

Hope this helps
  • #51,656
  • Jan 15, 2010 4:35am Jan 15, 2010 4:35am
Jarroo coming back made me remember this (written after I made an error saying Jarroo was not in PF)....happy days....

(Speaking of which, it's probably time for us to quote from the big guy again. Haven't seen the original on this thread in a while)

Quoting TiaForex
Oops :

THIS IS CRITICAL

Before typing information about Jarroo we MUST LEARN TO:

1. Do our research and establish the facts
2. If we do not do our research we must be prepared for Jarroo to "stop us out"

Once we have done our research and know the facts we have three choices:

1. Tell the truth
2. Make something up
3. Start a new group and take credit for everything, pausing only to call Jarroo a girl.

If we do not do this we have no chance in this business people. Period paragraph.
  • #51,657
  • Jan 15, 2010 4:38am Jan 15, 2010 4:38am
Here we go guys. James16 posted this a while ago and if you're new there is no greater advice than this. Knowing the first area of trouble is the key to this game. As Mike always says 'if I take a loss on this I won't be suprised. that's the key. not being left scratching your head but knowing exactly why price turned around where it did'

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

Notice a strong s/r area just beyond our pa if it exists.
Know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
  • #51,658
  • Jan 15, 2010 5:45am Jan 15, 2010 5:45am
hi all

a short video that might help u a bit in your trading,

http://upgradereality.com/will-smith-wisdom-about-life

enjoy john
  • #51,659
  • Jan 15, 2010 6:18am Jan 15, 2010 6:18am
wellcome back JARROO
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Respect a man, and he will do all the more.
  • #51,660
  • Jan 15, 2010 6:40am Jan 15, 2010 6:40am
Quoting ppfx
took the trade on a demo, will see what will come out... didnt want to risk it on real because as much as i like this pair, i have the worst win/loss ratio on it

seems that for every good trade i make on it, i then soon make two bad ... happened a lot of times in the past, i dont know why this pair doesnt like me
closed the trade with a little profit and now waiting for the break the time will tell in which direction it will go... patience
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