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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

  • #54,841
  • Feb 12, 2010 4:18am Feb 12, 2010 4:18am
Jaroo, thank you very much Sir for your reply, it's a lot clearer for me now, really needed a word from someone experienced, hope we will ride together beasts like that in future
  • #54,842
  • Feb 12, 2010 4:21am Feb 12, 2010 4:21am
Quoting Nawry
Jaroo, thank you very much Sir for your reply, it's a lot clearer for me now, really needed a word from someone experienced, hope we will ride together beasts like that in future

Hell yeah we will. Just takes a little time, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #54,843
  • Feb 12, 2010 4:27am Feb 12, 2010 4:27am
wow nice kaaboom, thanks rac
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  • #54,844
  • Feb 12, 2010 4:29am Feb 12, 2010 4:29am
Quoting jarroo
This was a very good quality PA setup, which I give more leeway on my stop loss location or just place them were they should be place . .above the PA formation in this case.
GBPCHF post 52544:

Jim!
In this case Your initial SL was above the setup, and You just narrowed it after took some profit?
Would You mind how it was managed? (I think..., but who knows...)
THX, PH
  • #54,845
  • Feb 12, 2010 4:32am Feb 12, 2010 4:32am
Quoting Danku
Hey jarroo

Thanks for helping me with the 8hr mt4 bars, very handy i must say.

I followed the instructions yesterday and it worked well, infact i took a GBPNZD PB Long and it went to the first trouble area for a cool 97Pips..........this morning i opened the Platform and noticed Price has not moved................on the 8hr TF.........is there something i should be doing because for every pair i loaded the 8hr TF, price has not moved.........now i see no Bars since yesterdays installation, when i check the other TFs, price has moved..........i...

You must note that the "offline" charts are just that . .off line. So they are not recieving a data feed, they're just a snapshot of Price in that time frame.

The periodcon of the time frame you converted will refresh itself but you have to close the plateform and then reopen it. This is the only way I know how its done. And some times it doesn't work. I will have to close/reopen many times to get a refreshed conversion.

Anyone know an easier way?
Indicators show the past. Price Action "Indicates" the future.
  • #54,846
  • Feb 12, 2010 4:37am Feb 12, 2010 4:37am
Hi, Second trade for this week, enter trade at G/U H4 BEOB 1.5656 (small blue area) SL is above the last H4 candle. BTW, the picture got different feed with my real account, tp at the other blue area.
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  • #54,847
  • Feb 12, 2010 4:38am Feb 12, 2010 4:38am
Quoting datogio
wow nice kaaboom, thanks rac
Nice datogio. Classic Rac-man.
Indicators show the past. Price Action "Indicates" the future.
  • #54,848
  • Feb 12, 2010 4:45am Feb 12, 2010 4:45am
Quoting jarroo
Nice datogio. Classic Rac-man.
thanks buddy, the rr is so huge this only trade was worth waiting couple of months

patience is virtue
  • #54,849
  • Feb 12, 2010 4:45am Feb 12, 2010 4:45am
Quoting Prof Hunter
GBPCHF post 52544:

Jim!
In this case Your initial SL was above the setup, and You just narrowed it after took some profit?
Would You mind how it was managed? (I think..., but who knows...)
THX, PH

Tell me what you think first, PH. With some charts . . would be nice too.
Indicators show the past. Price Action "Indicates" the future.
  • #54,850
  • Feb 12, 2010 4:50am Feb 12, 2010 4:50am
Quoting datogio
thanks buddy, the rr is so huge this only trade was worth waiting couple of months

patience is virtue
Nice.

I'm still looking at those Rac touch trades (demo). That Eur/Gbp at .8835 was excellent and obvious. You got to love the exercise of finding those strong confluenced level.
Indicators show the past. Price Action "Indicates" the future.
  • #54,851
  • Feb 12, 2010 4:51am Feb 12, 2010 4:51am
A perfect pin, close withing the prior bar, long nose picking out above all the massive old bar highs. Strong resistance level. Divergence.
Moved my stop to BE at the purple line. Exited on confluence of a major round number + PPZ + TL + 50% fib ret.

Show me any other method that can make you high probability money in a sideways market like this. Any other trader would get killed in this type of market, with no understanding of support and resistance.

Took me 3 minutes to get my stop to BE, and 12 minutes to exit, on the 4H chart.

I have zero loses this month so far.

How much money would that move worth on a large account?

James16 principles rock

Ben
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  • #54,852
  • Feb 12, 2010 4:55am Feb 12, 2010 4:55am
Quoting jarroo
Nice.

I'm still looking at those Rac touch trades (demo). That Eur/Gbp at .8835 was excellent and obvious. You got to love the exercise of finding those strong confluenced level.
yes for sure, i missed it even on demo
  • #54,853
  • Feb 12, 2010 4:58am Feb 12, 2010 4:58am
Hi Guys, I have a few questions in response to the recent discussions we have been having about hard breaks, momentum etc.

Pring in Price Patterns mentions that the more steep a rate of incline / decline (faster momentum) the more likely it is to stall at the first point of support or resistance. This is obviously different to a hard break of support / resistance but I just wanted to know your views on this. If I saw a nice long candle (in comparison to those around it) on say a daily TF leading up to a resistance level I would be pretty confident it would be broken. I know I need PA to show me this but I would be likely to whittle down to the 4hr chart and place a long entry at any support within the long daily candle.

  • #54,854
  • Feb 12, 2010 5:00am Feb 12, 2010 5:00am
Quoting benji533
A perfect pin, close withing the prior bar, long nose picking out above all the massive old bar highs. Strong resistance level. Divergence.
Moved my stop to BE at the purple line. Exited on confluence of a major round number + PPZ + TL + 50% fib ret.

Show me any other method that can make you high probability money in a sideways market like this. Any other trader would get killed in this type of market, with no understanding of support and resistance.

[u][b]Took me 3 minutes to get my stop to BE, and 12 minutes to exit, on the...
Very nice Ben.

I'm going to have to start a Ben folder with your charts because that one is a keeper.
Indicators show the past. Price Action "Indicates" the future.
  • #54,855
  • Feb 12, 2010 5:07am Feb 12, 2010 5:07am
Quoting jarroo
Tell me what you think first, PH. With some charts . . would be nice too.
???
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  • #54,856
  • Feb 12, 2010 5:09am Feb 12, 2010 5:09am
Quoting benji533
A perfect pin, close withing the prior bar, long nose picking out above all the massive old bar highs. Strong resistance level. Divergence.
Moved my stop to BE at the purple line. Exited on confluence of a major round number + PPZ + TL + 50% fib ret.

Show me any other method that can make you high probability money in a sideways market like this. Any other trader would get killed in this type of market, with no understanding of support and resistance.

[u][b]Took me 3 minutes to get my stop to BE, and 12 minutes to exit, on the...

  • #54,857
  • Feb 12, 2010 5:09am Feb 12, 2010 5:09am
Quoting jarroo
Very nice Ben.

I'm going to have to start a Ben folder with your charts because that one is a keeper.
A keeper you say?

This one is the real thing everyone here should keep

http://www.james16group.us/Guests/video/eurcadpb.wmv

http://cdn.forexfactory.com/attachme...6&d=1244846556
  • #54,858
  • Feb 12, 2010 5:14am Feb 12, 2010 5:14am
Nice work Benji. You are quite an inspiration.

BTW, does anyone know how long it takes before I come off pre-mod? And what these voucher things next to number of peoples posts are?

Thanks.

  • #54,859
  • Feb 12, 2010 5:22am Feb 12, 2010 5:22am
Quoting Prof Hunter
???

Ok. I see.

If you want to move you stop loss to a tighter placement, you want to use the previous Highs/Lows, RNs, PPZ levels, etc., on the the same time frame that the setup was given. And this setup was a 2 Day PB.

I'm not saying that you using the hourly for key locations is wrong , I'm just saying that using the same time frame that the setup was given will give you a stronger or truer stop loss placement.
Indicators show the past. Price Action "Indicates" the future.
  • #54,860
  • Feb 12, 2010 5:31am Feb 12, 2010 5:31am
Lets see if we can close below the 0.9500 level

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