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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

  • #53,101
  • Jan 27, 2010 8:31pm Jan 27, 2010 8:31pm
Quoting Dan Gilbert
you got my vouch, between this, and the E/J breakout.... I love the way you trade. good stuff.
Hehe shucks, I'm flattered

Thanks Dan ! Really appreciate it. I'm going to hit you one right back, when I get access to vouch. You are an awesome trader yourself, and post alot of good stuff!

CHEERS!!!!
lowest draw down possible please.
  • #53,102
  • Jan 27, 2010 9:13pm Jan 27, 2010 9:13pm
Hi guys,

First of all, thanks a lot because you give me the opportunity to "loose" 2 hours everyday by reading all the nice trades and explanation you post here.

Secondly, this possible trade definetely is not an A trade but it has some things we should take in consideration.

Two Bars ( almost same top-5 pips difference ), both of the rejected near the round number-10700 . Also, even if I saw that you are not using volumes as a reason for taking a trade, after a long bullish bar two days ago, yesterday the bar was short and rejected by the same area even if the volume was bigger. This could be a sign that the bulls are out from the trade or they are exhausted.

My question is: IS there any mistake in taking this trade, 10 pips below the last bar for a quick partial profit at the bottom at the long bullish bar from 26th January and maybe riding it on a bearish trend?

Thanks a lot.
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  • #53,103
  • Jan 27, 2010 9:41pm Jan 27, 2010 9:41pm
Nice long nose PIN forming on the EU 4h, would be CT but would be a bounce of 1.4000 & could be good for hundreds pips of so.

Or at least that's how I read it
Learning to be rigid in my rules & flexible in my expectations
  • #53,104
  • Jan 27, 2010 9:52pm Jan 27, 2010 9:52pm
Quoting raczekfx
It will ... @ 130...?

The 130 looks good but I'll take the 128.75 for now.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,105
  • Jan 27, 2010 9:53pm Jan 27, 2010 9:53pm
Quoting Treefingers
Nice long nose PIN forming on the EU 4h, would be CT but would be a bounce of 1.4000 & could be good for hundreds pips of so.

Or at least that's how I read it
i don't know if I should demo this.... or live it..... I'm pretty sure mike is looking at it right now though...
Many choose unhappiness over uncertainty.
  • #53,106
  • Jan 27, 2010 9:57pm Jan 27, 2010 9:57pm
Quoting Dan Gilbert
i don't know if I should demo this.... or live it..... I'm pretty sure mike is looking at it right now though...

If Mike is looking into it then I must be onto something, gives me a warm fuzzy feeling.
Learning to be rigid in my rules & flexible in my expectations
  • #53,107
  • Jan 27, 2010 9:59pm Jan 27, 2010 9:59pm
Quoting Treefingers
If Mike is looking into it then I must be onto something, gives me a warm fuzzy feeling.
it's the big round number..... 1.4000

edit: also swing low, divergence, PPZ (of course)
Many choose unhappiness over uncertainty.
  • #53,108
  • Jan 27, 2010 10:05pm Jan 27, 2010 10:05pm
Quoting Dan Gilbert
i don't know if I should demo this.... or live it..... I'm pretty sure mike is looking at it right now though...
Watching this area but don't like the time it formed or the close of the bar. So gonna stand aside and see what happens in euro session.

Mike
  • #53,109
  • Jan 27, 2010 10:18pm Jan 27, 2010 10:18pm
Quoting mbqb11
Watching this area but don't like the time it formed or the close of the bar. So gonna stand aside and see what happens in euro session.

Mike
I set a line alerter on the break of the pin. I'll wait for that. some good breakout consolidation areas are lining up right now though, so I see those as better opportunities than this pin.....
Many choose unhappiness over uncertainty.
  • #53,110
  • Jan 27, 2010 10:20pm Jan 27, 2010 10:20pm
Quoting FXMaecenas
Hi guys,

First of all, thanks a lot because you give me the opportunity to "loose" 2 hours everyday by reading all the nice trades and explanation you post here.

Secondly, this possible trade definetely is not an A trade but it has some things we should take in consideration.

Two Bars ( almost same top-5 pips difference ), both of the rejected near the round number-10700 . Also, even if I saw that you are not using volumes as a reason for taking a trade, after a long bullish bar two days ago, yesterday the bar was short and rejected by the...

No mistake. This is a valid, confluenced PA setup.

Inside Bar at a PPZ level (1.0650) at a swing High with trendine line confluence. A break below the 1.0600 would be my play.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,111
  • Jan 27, 2010 10:20pm Jan 27, 2010 10:20pm
Quoting Dan Gilbert
I set a line alerter on the break of the pin. I'll wait for that. some good breakout consolidation areas are lining up right now though, so I see those as better opportunities than this pin.....
yep were at some great areas across the board. Just waiting for the beauty to pop up and tip me off
  • #53,112
  • Jan 27, 2010 10:36pm Jan 27, 2010 10:36pm
Quoting jlmac27
Hello Marxdhr,
Maybe this will clear a little up for you.This is a response I got from Jim when asking a similiar question.

"

great question and a simple answer but it wont seem simple to you for a while. it will however if you keep the focus of only taking the best set ups. how do you know the best? after practicing for a while.

ok the answer.

i literally know with almost certainty that when i enter a trade its going to do one of two things virtually every time.

1. give me a profit either full or partial

or at the least

2. give me a chance...
Thanks for sharing this, it's just what I need, I think I'm overtrading the 4H bars, seriously, the only way to cure that "need to trade" is to relax and sit on your hands... or watch tons of markets! I want to do the latter so I went for stocks
  • #53,113
  • Jan 27, 2010 10:49pm Jan 27, 2010 10:49pm
Quoting nasir.khan
Well there is only one guy that i know out of many individual traders who do TA. Actually i was inspired by him in the beginning when i started to look at charts ( months before FX).

In KSE anyone like AKD, JS, AH could move a stock in any direction they wan't but of course they need this crowd ( ones like your friend and my B-in-Law) for their liquidity need.

When the crowd gets a rumor/news it's actually floated by them so they could snatch their holdings and when...
I'm looking forward to knowing the outcome.

g.
I believe . . .
  • #53,114
  • Jan 27, 2010 11:12pm Jan 27, 2010 11:12pm
Quoting raczekfx


... Asia looks v.interesting tonight.
sweet e/j, 40 more please.

why? look at the daily wall.
  • #53,115
  • Jan 27, 2010 11:18pm Jan 27, 2010 11:18pm
Quoting raczekfx
sweet e/j, 40 more please.

why? look at the daily wall.
aaahhhh . . . . got a chart handy?
Indicators show the past. Price Action "Indicates" the future.
  • #53,116
  • Jan 27, 2010 11:47pm Jan 27, 2010 11:47pm
Quoting Cyrus
My small tribute to the J16 thread.

In essence, have grabbed all of the posts from James16, mbqb11, raczekfx from page 1 to 2500 of the thread and stuck them into 1 file.

It's like reading book of all their posts....
Just resurrecting this post as it helped me up find a true treasure of knowledge.. Taking the Big man's advice new traders should take the time to read the whole thread.. yet if you want to take a head start to define the methods and see how they work for you, I hope this would do.. just be sure to know you have "tailored" the methods for yourself..

I'm just grateful for everything and everyone I've found here and am thankful for all the help they give out..
  • #53,117
  • Edited 12:28am Jan 28, 2010 12:05am | Edited 12:28am
Quoting raczekfx


I had a buy orders set at 125.20 and 124.80.
Price kissed my first order and flew away.
Missed it by the spread. Asia looks v.interesting tonight.
Hey Rac a question if you are still around.

I don't see a Strong PPZ at 125. ( except some high/lows from DEC-08 and MAR-09) there is a Fib 50% but its at 125.62

Just 125 and Double Bottom in DOW??

Thanks.
.
  • #53,118
  • Jan 28, 2010 12:17am Jan 28, 2010 12:17am
Any thoughts on this appreciated - its a H8 EU chart - pin does not have the greatest real body but its sitting on a congestion area (not drawn) and has BIG div ... I will probably have a pending above it and see how it breaks ..
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  • #53,119
  • Jan 28, 2010 12:46am Jan 28, 2010 12:46am
Quoting pipmyride
Any thoughts on this appreciated - its a H8 EU chart - pin does not have the greatest real body but its sitting on a congestion area (not drawn) and has BIG div ... I will probably have a pending above it and see how it breaks ..
Also sitting on that big RN 1.4000. so yeah the confluences and location look good. But the size is what it is lacking. Few of thoses this morning.
A hard break would make the difference in my book. (if it breaks)
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Indicators show the past. Price Action "Indicates" the future.
  • #53,120
  • Jan 28, 2010 12:46am Jan 28, 2010 12:46am
Quoting jarroo
A hard break would make the difference in my book. (if it breaks)
that sentence has so much meaning to it I hope people understand with this type of bar/scenario
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