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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

  • #52,441
  • Jan 21, 2010 7:05pm Jan 21, 2010 7:05pm
Quoting Dan Gilbert
Nice.
Indicators show the past. Price Action "Indicates" the future.
  • #52,442
  • Jan 21, 2010 7:10pm Jan 21, 2010 7:10pm
looks like this breakout+retrace touch trade I executed last week might be hitting the trailing stop I have manually been moving down here (over the highs of the daily bars)... thank you very much E/G sell limit order.... we had a good run...
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Many choose unhappiness over uncertainty.
  • #52,443
  • Jan 21, 2010 7:26pm Jan 21, 2010 7:26pm
Do you old timers generally recommend newbies to stay away from the jpy, it seems a bit tougher to trade?

When they move they really move.
Learning to be rigid in my rules & flexible in my expectations
  • #52,444
  • Jan 21, 2010 7:32pm Jan 21, 2010 7:32pm
Quoting Treefingers
Do you old timers generally recommend newbies to stay away from the jpy, it seems a bit tougher to trade?

Wen they move they really move.
jpy is just like any other pair, sure they all have their own little personalities, but a quality setup is a quality setup no matter what the pair or instrument. All pairs have their moments when they move hard and fast and thank God they do. lol
Indicators show the past. Price Action "Indicates" the future.
  • #52,445
  • Jan 21, 2010 7:48pm Jan 21, 2010 7:48pm
Quoting Dan Gilbert
Nice to see someone else still in for the ride. Hoping to see more momentum during London session.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #52,446
  • Jan 21, 2010 7:52pm Jan 21, 2010 7:52pm
Quoting LasVahGoose
Nice to see someone else still in for the ride. Hoping to see more momentum during London session.
U targeting 165.00? I think I'll target 165 and trail along the highs of the daily bars @ close of each daily bar. I like doin it that way.
Many choose unhappiness over uncertainty.
  • #52,447
  • Jan 21, 2010 7:52pm Jan 21, 2010 7:52pm
Quoting urchman
http://www.forexfactory.com/showthre...45#post3367345

i may not be a regular "contributor" also im not yet a member of the PF but i spend approximately 72 hours of my hard precious time every week going through james16 chart thread.I've have been studying the charts posted on this treasure thread for like a year and 6 months.something i find extraordinary amazing is how i have learned how to study Price and most important of all is i now know myself .Thanks Sir Jim a.k.a James16, Sir Mike (mbq11):...i've have been...
It's all here for the taking Michael. While the thanks are accepted by all who contribute directly to this thread, it is the individual trader who excercises the proper discipline, puts in the effort, time and concentration that gets the due reward. I wish you the best in your trading endeavor. As far as this thread goes take all the info here for yourself and then try your best to give some back. I really thought that your GOLD chart was a good contribution and that's why I commented. It's a situation to behold over the past couple of years to see who passes through here takes a little and then becomes an asset to J16. This has been one of the most rewarding affiliations of my lifetime, I hope that you can experience at least some of the fullfillment that I have by being a small part of J16.

K.I.S.S.
  • #52,448
  • Jan 21, 2010 7:57pm Jan 21, 2010 7:57pm
Quoting KissFan
It's all here for the taking Michael. While the thanks are accepted by all who contribute directly to this thread, it is the individual trader who excercises the proper discipline, puts in the effort, time and concentration that gets the due reward. I wish you the best in your trading endeavor. As far as this thread goes take all the info here for yourself and then try your best to give some back. I really thought that your GOLD chart was a good contribution and that's why I commented. It's a situation to behold over the past couple of years to...

Ditto Roger.

(I wish I'd have said that. )
Indicators show the past. Price Action "Indicates" the future.
  • #52,449
  • Jan 21, 2010 7:58pm Jan 21, 2010 7:58pm
Quoting Dan Gilbert
That's where it's at brother. I'm in the same boat with you on this and the gbp/jpy. I entered the gbp/jpy due to the weekly IB setups. It's been winding up for quite some time now.
I dream, therefore I become.
  • #52,450
  • Jan 21, 2010 7:59pm Jan 21, 2010 7:59pm
Quoting Treefingers
Do you old timers generally recommend newbies to stay away from the jpy, it seems a bit tougher to trade?

When they move they really move.

Hi Treefingers

I was thinking exactly the same thing the other night. JPY seems like a wild beast compared to the other currencies, and makes me nervous when I put a trade on it. So I started playing around on the charts, I saw something amazing (for me anyway) on USDJPY monthly. Check it out, swing low to swing high Fibs( or vice versa), it retraces to 50 so often its uncanny, very occasionally it goes to another level, but mostly 50.

Does this mean the beast is actually tame when you get to know it!?
  • #52,451
  • Jan 21, 2010 8:02pm Jan 21, 2010 8:02pm
Quoting Dan Gilbert
U targeting 165.00? I think I'll target 165 and trail along the highs of the daily bars @ close of each daily bar. I like doin it that way.
I will look closely at PA @ 1.6675 area. Price just seems to coil around that number if it breaks below that level I'm looking at the lower trend line. IF we get down that far. Still have a lot to fight through. I'm pretty famous for being wrong. LOL.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #52,452
  • Jan 21, 2010 8:02pm Jan 21, 2010 8:02pm
Quoting mike w
That's where it's at brother. I'm in the same boat with you on this and the gbp/jpy. I entered the gbp/jpy due to the weekly IB setups. It's been winding up for quite some time now.
Great minds think alike brother. Took on the break. Dale would like this one.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,453
  • Jan 21, 2010 8:11pm Jan 21, 2010 8:11pm
Quoting bauerjj10
Is this a good example of a BEOB trade?
Hello Bauer. This is one of those bars that is very debatable. Whie it is a very substantial looking bar and has by the way just been broken by the new daily bar, I personally see better set ups for trading on a regular basis. I could see where one might argue that this is a "continuation" bar. I would have jumped on this bar if it was where we see the bullish bar on Jan 7th. This specimen at an extreme swing high is a better set up IMHO.

K.I.S.S.
  • #52,454
  • Jan 21, 2010 8:15pm Jan 21, 2010 8:15pm
Thank you ! I'll add this on my notes..

Quoting Pip Pride
Hi Strateg119

The lesson though is that without the parameters of the Trade Plan, I would definitely have tinkered to bits with these trades as they went live, I would have hovered over them and started to micro manage them and probably even turned them into losers. I am learning so much about myself and trading by just letting price on these trades do whatever it wants.
  • #52,455
  • Jan 21, 2010 8:18pm Jan 21, 2010 8:18pm
Quoting jarroo
Ditto Roger.

(I wish I'd have said that. )
I'm speaking from the heart Jim. BTW could you conjure up a chart scenario where we see EURO/USD climb back up to 1.47? I'd really like to short it from way up there!

K.I.S.S.
  • #52,456
  • Jan 21, 2010 8:47pm Jan 21, 2010 8:47pm
Quoting Pip Pride
Hi Treefingers

I was thinking exactly the same thing the other night. JPY seems like a wild beast compared to the other currencies, and makes me nervous when I put a trade on it. So I started playing around on the charts, I saw something amazing (for me anyway) on USDJPY monthly. Check it out, swing low to swing high Fibs( or vice versa), it retraces to 50 so often its uncanny, very occasionally it goes to another level, but mostly 50.

Does this mean the beast is actually tame when you get to know it!?
Yep I see what you mean, makes this business seem easy
Learning to be rigid in my rules & flexible in my expectations
  • #52,457
  • Jan 21, 2010 8:52pm Jan 21, 2010 8:52pm
Quoting KissFan
I'm speaking from the heart Jim. BTW could you conjure up a chart scenario where we see EURO/USD climb back up to 1.47? I'd really like to short it from way up there!

K.I.S.S.
There you go brother . I think Rac ( and yourself) have the same chart.

But getting there is another story. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #52,458
  • Jan 21, 2010 8:57pm Jan 21, 2010 8:57pm
Quoting jarroo
There you go brother . I think Rac ( and yourself) have the same chart.But getting there is another story. lol
Hehe! No kiddin'. Maybe we'll get some PA at 1.4150. I'm hittin the sack till 2am. Ya'll have a good night!

K.I.S.S.
  • #52,459
  • Jan 21, 2010 9:02pm Jan 21, 2010 9:02pm
Quoting KissFan
Hehe! No kiddin'. Maybe we'll get some PA at 1.4150. I'm hittin the sack till 2am. Ya'll have a good night!

K.I.S.S.
That would be nice. Although the 1.3800 has some nice confluences.

Night buddy.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,460
  • Jan 21, 2010 9:18pm Jan 21, 2010 9:18pm
For you equity buffs

Someone brought this up in my webinar. Simple stuff. Pin of historical PPZ 60 round number, false breakout higher, nice size bar, hidden divg for those that like it
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