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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

  • #52,661
  • Jan 23, 2010 2:24pm Jan 23, 2010 2:24pm
Been a Lovely week Guyz , Thank you all for making this thread so beneficial for us all , I would like to know how do you see the USD/CAD next week , saw a nice Bullish engulfing bar on the weekly , But I think we might retrace to 1.0511 or even deeper to 1.0456 , Where I'd be going Long in this one ...Targets around ...say 1.0750 & 1.09xx
Any Ideas ?!!
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  • #52,662
  • Jan 23, 2010 2:30pm Jan 23, 2010 2:30pm
Quoting alifari
Hi,

Firstly I would like to thank everybody in this thread for their contribution. I am practising J16 Method since last 8 months on both live and demo accounts and last couple of months, I have been doing pretty well. Although, I don't post much due to my busy schedule.

Here are my trades for this week. Most of these trades are based on J16 Method.


Thanks once again.
nicely done

ps: like your signature
  • #52,663
  • Jan 23, 2010 2:59pm Jan 23, 2010 2:59pm
Quoting ghous
Here are my likes for next week...

g.
Ah nice.. was about posting that. You seem to love those IPB's

However, IMO for the NZD/CHF, I'd love to see a nice pull back to the 38, 50 or 61 fib level of that bar. It's no news that I love smaller stops. And as for the NZD/USD I'm still short from monthly pins.
  • #52,664
  • Jan 23, 2010 3:58pm Jan 23, 2010 3:58pm
I was just looking at this pair, and it seems to me that the 80.00 level could be a good area to look for some PA early next week, at least to get a retracement from the move down this week.
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You got to know when to hold them, and know when to fold them.
  • #52,665
  • Jan 23, 2010 7:22pm Jan 23, 2010 7:22pm
hi .

do you have guys some experience with broker " Instaforex " ?
  • #52,666
  • Jan 23, 2010 8:54pm Jan 23, 2010 8:54pm
Chart
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  • #52,667
  • Jan 23, 2010 9:59pm Jan 23, 2010 9:59pm
Quoting FxJb
Hello everyone. For the last 2 years i have read this tread (mostly in the weekends). I have been a passive reader. Now that i have more time, I started to day trade forex. In the last two years i have trade occasionally.

So, i just wanna say thanks to everyone in this trade, specially to Jim for the insights he gave.


For now, I attach a pic of Cable. What u think guys thinks of the wedge?


Good trades.
Welcome Fxjb.

Nice 1st post. Looking for great locations is what we love to do here. And what makes a great location: Confluence.

The wedge looks good. I like the area you noted. Nice confluenced area; PPZ level, 61.8 Fib and a trendline. All lining up at the same level. Nice. (More noticable on the 4 hour chart)

Some convincing bullish Price Action on the Daily (and/or 4 hour) would be what we look for to support a given PA setup. There may be some traffic issue on this one meaning we would like more space to allow for more movement, but it looks good.

Nice one Fxjb.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #52,668
  • Jan 23, 2010 10:04pm Jan 23, 2010 10:04pm
Quoting ghous
Here are my likes for next week...

g.

Thanks for heads up ghous. My eye will follow.
Indicators show the past. Price Action "Indicates" the future.
  • #52,669
  • Edited Jan 24, 2010 1:06am Jan 23, 2010 10:36pm | Edited Jan 24, 2010 1:06am
Quoting marcelnyo
Don't sweat it jarroo, I'd never take anything from you badly and the post didn't sound like it was meant for anything bad, too.

The "Jim" part was meant for you I guess next time I'll just call you by the nickname , because takingthepip's question was specifically asked for you, so I had to write something or else I'd feel very awkward about it later, again, I hope u don't mind

yes it was xmas week but it was so good I just can't resist, so I did risk 1% on it, maybe it was negligence in my part but it works, I even remembered...
Ok, thanks marcel. I just was confused about the "people harrassing you" part. I haven't felt any harassment from anyone.

Big PPZ levels. I used to make them too big myself and they caused me confusion. Once I started refining them down or smaller it helped me a lot.

Round number especially the bold ones, like the 1.4000 on the Usd/Sgd, can't be ignored. Shoot . . Mike doesn't even open a chart without these bold RNs already highlight. And he does it for a reason.

Don't ever feel awkward about commenting on a post, be it addressed to me or anyone. This is why we are here.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #52,670
  • Jan 23, 2010 10:48pm Jan 23, 2010 10:48pm
Quoting ghous
-------------

So you see it's how you grade the setup and how you look at the entire situation that ultimately decides your MM and trade plan...there's no one right way except the one which works for you.

cheers,

g,.
Excellent post ghous.

Well done.
Indicators show the past. Price Action "Indicates" the future.
  • #52,671
  • Jan 23, 2010 11:15pm Jan 23, 2010 11:15pm
Quoting ts63
jarroo > Please check and comment the attached NZD SGD chart

I believe you mean the USD/SGD not the NZD/SGD.

This pair does appear to be turning over, meaning the trend may be turning from down to up (Higher Lows). So your Inverted H&S maybe a valid one.

Your Price projections look good. But the Inverted Pin Bar that ghous has pointed out maybe in play. So a break of the Inverted H&S maybe delayed.

Quoting ghous
IPB introuction's your place...

IPB introduction

IPB examples

g.

The 1.4050 PPZ level supports the IPB nicely. It just depends on the strength of the bullish movement from last week.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,672
  • Jan 23, 2010 11:50pm Jan 23, 2010 11:50pm
Quoting Jankone
hi .

do you have guys some experience with broker " Instaforex " ?
I would NOT recommend instaforex. I almost actually transferred funds to instaforex to trade, almost got sucked into their 25% deposit bonus bs....they have no way to actually get funds into their account w/o moving through a 3rd party.

I tried to use their "perfectmoney" setup, you will see it on their website under "deposit options"....I used a wire transfer, the bank was in Guatemala...the phone for the perfectmoney company had no one ever there to answer and no voice mail/message machine. Long story short, after 1 month...my money did show up in the perfectmoney account and I withdrew it as quick as I could click the buttons.

The fee was like 3.5 percent to move the money back in to my account which is ridiculous....

Long story short, I've now opened an account with OANDA...they have been great. Good execution, low EUR spread, zero cost to open account or transfer funds. ONLY 50:1 LEVERAGE THOUGH. the 50:1 isn't a problem for me but might be for some.

Anyway, I just wanted to let you know my experience with instaforex. Also, in that month where I was trying to figure out where my money was...I did some google searches and read on another forex regulation site. There are numerous incidences if you google search "instaforex scam".

Take care and good luck,

Donnie
  • #52,673
  • Jan 24, 2010 12:56am Jan 24, 2010 12:56am
Quoting bauerjj10
Chart
I'm actually in this one, long from the 1.0300, so I have been eye balling big bearish PA at a strong PPZ level. I thought the 1.0500 was going to give me some indication but Price blew by it. Although I do not think that Price is done with this level just yet.

I like using the most current High and Low for my fib levels, but I do not think yours are wrong. This area you have noted with its confluence of PPZ levels, 1.0600-0650 RN, fib levels and trendline is definitely worth watching for some big bearish PA.

Nice chart bauerjj.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,674
  • Jan 24, 2010 2:33am Jan 24, 2010 2:33am
hi yawl,sos if this has been posted allready, i havnt had time to catch up as im on my way to work, but just a heads up...
i feel if we can get past the 2.000 level then we could have a good trade...???

cheers
jon

hey jarroo !!! long time no see!!!! good to see you back mate
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PATIENCE... DISCIPLINE
  • #52,675
  • Jan 24, 2010 3:20am Jan 24, 2010 3:20am
Quoting g_j_hook@yah
hi yawl,sos if this has been posted allready, i havnt had time to catch up as im on my way to work, but just a heads up...
i feel if we can get past the 2.000 level then we could have a good trade...???

cheers
jon

hey jarroo !!! long time no see!!!! good to see you back mate
that term of bullish tats true
DRAGON-TECHNICAL ANALYSIS!
  • #52,676
  • Jan 24, 2010 5:27am Jan 24, 2010 5:27am
Jankone i would also recommend you Oanda like uraceulose said. I have been using Oanda for about 5 months now (i know that this is not such a long period of time, but for me, who has been around fx for a year and a half, it is) and i had no problems with them the only thing it bothers me is that their charts are bad, so i use mt4 platform from fxpro and ibfx for charting
  • #52,677
  • Jan 24, 2010 6:45am Jan 24, 2010 6:45am
Quoting bauerjj10
Chart
Sure is worth a watch Bro

g.
I believe . . .
  • #52,678
  • Jan 24, 2010 6:49am Jan 24, 2010 6:49am
Quoting goldtrader
Thanks ghous, you keep me back track, even still confusing now but i think i should stick with what i planed when i get this trade... pheeeew it's just a little of inpatient and anxiety ... bad sign!!!
You'll grow out of it soon...stay on the right path and let your mind play the games, it'll eventually understand what you want.

g.
I believe . . .
  • #52,679
  • Jan 24, 2010 6:52am Jan 24, 2010 6:52am
Quoting g_j_hook@yah
hi yawl,sos if this has been posted allready, i havnt had time to catch up as im on my way to work, but just a heads up...
i feel if we can get past the 2.000 level then we could have a good trade...???

cheers
jon

hey jarroo !!! long time no see!!!! good to see you back mate
hey John!!! long time no see!!!! good to see you back mate

Not surprisingly you're bang on target again with your charts and thoughts!

g.
I believe . . .
  • #52,680
  • Jan 24, 2010 11:33am Jan 24, 2010 11:33am
Quoting sas
I was just looking at this pair, and it seems to me that the 80.00 level could be a good area to look for some PA early next week, at least to get a retracement from the move down this week.

Hi Sas

Been lurking for a long time so guess its time to give something back!

I've also got this pair on my radar. The trend support line is not easy I agree, but we seem to have it in more or less the same place. If you look carefully at the attached chart I thought you might find the 356 and 150 EMA's interesrting too. In terms of conflurnce they are on top of each other where the next pin could land!

As for me I've been paper trading for while now but haven't taken the big step. Being in the UK I think I will spread bet Forex.

Hope this was of interest / helpful

S
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