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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

  • #54,341
  • Feb 8, 2010 3:03am Feb 8, 2010 3:03am
Correct Me If I'm Wrong ...

I Didn't Felt Comfortable To Tool This Long Trade At The Break Of The IB In E/G Because :

1) There is a Strong Resistance (PPZ) Above It.

2) I Expect To See a Box as I Drew In The Picture Attached Below.

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: eg pa.gif Size: 18 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #54,342
  • Feb 8, 2010 3:13am Feb 8, 2010 3:13am
Quoting myfx
hello Nasir,

Other than double bottom on GU (1h), i don't see any other confluence..am I missing something here?
sorry for the late response. I was fixing the ceiling of my dad's shop which is made of tin I was putting stones on it cause there is a thunderstorm here in my countryside home.
put on a weekly and see november-08
  • #54,343
  • Feb 8, 2010 3:16am Feb 8, 2010 3:16am
Quoting nasir.khan
just bought Eu at 1.3631 ( SEE LINE CHART IN 1H)
And Gu at 1.5558 ( DOUBL BOTTOM IN 1H)
Given that I often refer absolute beginners to this thread I'm looking for price action a la J16 ethos and not seeing any for these trade calls. Do you have a TP or stop loss in mind? Would these (counter trend) trade calls, whether they are right or wrong, be better posted on the EU and cable threads?
Gone to a better place
  • #54,344
  • Feb 8, 2010 3:19am Feb 8, 2010 3:19am
Quoting nasir.khan
just bought Eu at 1.3631 ( SEE LINE CHART IN 1H)
And Gu at 1.5558 ( DOUBL BOTTOM IN 1H)


..................unless is just some scalp,which is a good entry, hope you know where to exit,as I said befor you knows my thought about what I think is coming up.

why do guys try to catch a falling knife,don't you see you are fighting a hurricane.

well I have just discovered something,time is important(85%),when this move are occurred, because they are doing all the time the same think.
For example january is like a barometer for the market during this month are sets the market's direction for the year(not all the time is this case),but almost during this time are coming big move.

I'm don't base my trade on this theory,I'm aware of it,but I'm trusting more on my charts which are more than kindly with me

we all do have some expectation about what price is going to do next but can we be fair enough with us to accept that we may be wrong.
And all those expectation are come from what we know and from what we don't know that we allready know it,is from our experience with the market.

the above statements aren't pointed at you nasir are just my thoughts,I know you are smart enough to protect yourself

but again I could be totally wrong
  • #54,345
  • Feb 8, 2010 3:31am Feb 8, 2010 3:31am
hi guys

i took this GBP/NZD trade today,a 2 day pin bar.stop moved to BE.didn't take partial profit.the first trouble area seems to be at 2.2450-2.2500.
waiting to take partial profit at the 1st trouble area.
Attached Image (click to enlarge)
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  • #54,346
  • Feb 8, 2010 3:38am Feb 8, 2010 3:38am
Quoting triger88990
..................unless is just some scalp,which is a good entry, hope you know where to exit,as I said befor you knows my thought about what I think is coming up.

why do guys try to catch a falling knife,don't you see you are fighting a hurricane.

well I have just discovered something,time is important(85%),when this move are occurred, because they are doing all the time the same think.
For example january is like a barometer for the market during this month are sets the market's direction for the year(not all the time is this...
Yes Trig I know what I am doing.
and sell orders are already placed. and you know where they are placed don't you???
  • #54,347
  • Feb 8, 2010 3:49am Feb 8, 2010 3:49am
Quoting nasir.khan
Yes Trig I know what I am doing.
and sell orders are already placed. and you know where they are placed don't you???
I'm willing to add more to my position as well, we will take the same train

all the best!!
  • #54,348
  • Feb 8, 2010 3:59am Feb 8, 2010 3:59am
Quoting smikester
Given that I often refer absolute beginners to this thread I'm looking for price action a la J16 ethos and not seeing any for these trade calls. Do you have a TP or stop loss in mind? Would these (counter trend) trade calls, whether they are right or wrong, be better posted on the EU and cable threads?
hey smikester,I always post charts showing my Stops and PPZ areas with my trades. But I am currently on my cell phone so can't post any charts.
anyways I understood you're point, so no live calls from now on. Thanks.
  • #54,349
  • Edited 5:06am Feb 8, 2010 4:33am | Edited 5:06am
Pros

Pin bar with the longer term daily trend.
Trendline confluence
PPZ

Cons

Not the biggest pin.
PPZ is just above price action.

I think price has a good chance of making it to the descending trendline. If price can close strongly above the PPZ I will move my stop just under it.
Attached Image (click to enlarge)
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  • #54,350
  • Feb 8, 2010 5:10am Feb 8, 2010 5:10am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
probably this is better, but, who knows
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  • #54,351
  • Feb 8, 2010 5:16am Feb 8, 2010 5:16am
Quoting Pipzilla
Hey Kiss
What did you think of the Dr.Pepper commercial during the
Super Bowl !!!!
All things KISS are awesome! LOL!!!

K.I.S.S.
  • #54,352
  • Feb 8, 2010 5:19am Feb 8, 2010 5:19am
looking good?
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Wellcome to the good life!
  • #54,353
  • Feb 8, 2010 5:49am Feb 8, 2010 5:49am
Quoting nasir.khan
Well I believe these people ( one like your accountant), have a huge role in our success.
When I started off first one my best friend and I don't have many friends in the outside world. His said that " IF YOU KEEP ON DOING THIS YOU WILL NEVER BE SUCCESSFUL IN YOUR LIFE WITH ANYTHING, I KNOW THAT SORT OF STUFF".
Second one was my brother in law who is himself a stock trader and doesn't believes in TA. Well he simply laughed at me ( like all of them).
Third one was the chartist in my company he would often tell me " LISTEN BOY IT TOOK ME 15...
It's ironic isn't it? The very ones trying to tear you down are helping to steel your resolve.

K.I.S.S.
  • #54,354
  • Feb 8, 2010 7:17am Feb 8, 2010 7:17am
Quoting nasir.khan
hey smikester,I always post charts showing my Stops and PPZ areas with my trades. But I am currently on my cell phone so can't post any charts.
anyways I understood you're point, so no live calls from now on. Thanks.
Hey Nasir. Thanks for clarifying that.
Gone to a better place
  • #54,355
  • Feb 8, 2010 7:19am Feb 8, 2010 7:19am
All is quiet on the chart thread this morning. Are we waiting for the market to open in New York? I'll post a chart of what I am looking at in the meanwhile. I am looking to short EURJPY. I know that I could buyright now but I'll wait as the trend is down and I'd just rather sell if price tells me I can. It's been a good day already. I hope that everyone is having a good day as well.

K.I.S.S.
Attached Image (click to enlarge)
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  • #54,356
  • Feb 8, 2010 8:03am Feb 8, 2010 8:03am
Hi guys,

Sorry, a little OOT,

can any of you recommend a good book that teaches meditation and stress management? I'm feeling all chopped up right now and can't even push myself to put my head into the charts, and most of my friends are here anyway.

Thanks,

Marcel
  • #54,357
  • Feb 8, 2010 9:05am Feb 8, 2010 9:05am
Quoting nasir.khan
hey smikester,I always post charts showing my Stops and PPZ areas with my trades. But I am currently on my cell phone so can't post any charts.
anyways I understood you're point, so no live calls from now on. Thanks.
He may not like em but I absofrigginlutely love em Nasir! You're brilliant and your charts can be learned from.
I dream, therefore I become.
  • #54,358
  • Feb 8, 2010 9:12am Feb 8, 2010 9:12am
Here is the line chart and also the candle chart of what Nasir was talking about. Hmm, seems familiar. Recent bar highs create support? Whaaat? No way! That can't be?! lol
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: heres the line chart nasir was talking about.gif Size: 14 KB
I dream, therefore I become.
  • #54,359
  • Feb 8, 2010 9:14am Feb 8, 2010 9:14am
There's also no WAY this can be just as visible on the usd/chf too! Pin bar right off the middle of the range?! Jim, you're crazy man! This stuff doesn't work!?!
Attached Image (click to enlarge)
Click to Enlarge Name: it can't also be visible on the usdchf either.gif Size: 18 KB
I dream, therefore I become.
  • #54,360
  • Feb 8, 2010 9:15am Feb 8, 2010 9:15am
Quoting marcelnyo
Hi guys,

Sorry, a little OOT,

can any of you recommend a good book that teaches meditation and stress management? I'm feeling all chopped up right now and can't even push myself to put my head into the charts, and most of my friends are here anyway.

Thanks,

Marcel
i would like to recommed you "Trading in the Zone" written by Mark Douglas.
It's not about meditation and stress management, but it teaches how not to feel stress and fear during trading, and how irrational are those feelings. It describes where those negative feelings stems from and how to accept bad moments during trading without hurting themselves.
When i was reading this book i felt like someone was describing my own feelings, and my own emotional approach to trading. It would be really good if your stress comes from trading, otherwise just forget my response
Let me know if need more detailed description.
oromek
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