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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

  • #55,561
  • Feb 21, 2010 5:52am Feb 21, 2010 5:52am
Quoting Riskee
Hey Folks , Check out the Aussie 4H chart seems interesting to me with a Beautiful BEOB + Clean trend break + Close below the 50 Fib level well , I entered this trade ( Micro lot ) . Best of Luck
This is 1 of 3 trades i took last week. but for some reason i did not move my stop to BE ASAP. I am still holding on to it though i think the RN which the OB is sittin on cud stil hold price down if price gets there.

Hunri
  • #55,562
  • Feb 21, 2010 7:01am Feb 21, 2010 7:01am
Just watching the training video from j16, thanks Jim lightbulbs going off everywhere. Genius.
  • #55,563
  • Feb 21, 2010 7:04am Feb 21, 2010 7:04am
Quoting didymario
This is 1 of 3 trades i took last week. but for some reason i did not move my stop to BE ASAP. I am still holding on to it though i think the RN which the OB is sittin on cud stil hold price down if price gets there.

Hunri
That was a really good setup , managed to get out with profit +45 , but the EUR/USD has hit a major support last friday and may gain upside momentum that might add some strength to the aussie as well ( being the main currency in the dollar index ) . Hope you the best Buddy
  • #55,564
  • Feb 21, 2010 7:09am Feb 21, 2010 7:09am
Quoting TiaForex
The problem here longshot is that this is the James16 chart thread and a particular method is taught here. Price action, at PPZs, with sound money management. You have every right to trade how you will, but if you are trading against the main principles of this thread then there is no real way that anyone can offer constructive criticism.

You may be better served in another thread, because the view of most people on the James16 chart thread will be that you're going about this all wrong. You're perfectly entitled to trade your own way of course,...

I Honestly enjoy ur posts bro just dont stop. lol! keep writing
  • #55,565
  • Feb 21, 2010 7:14am Feb 21, 2010 7:14am
Quoting Riskee
That was a really good setup , managed to get out with profit +45 , but the EUR/USD has hit a major support last friday and may gain upside momentum that might add some strength to the aussie as well ( being the main currency in the dollar index ) . Hope you the best Buddy
Thanks Budd.

Hunri
  • #55,566
  • Feb 21, 2010 7:25am Feb 21, 2010 7:25am
Quoting TiaForex
That's my feeling too. It's been pushing my buttons recently, but maybe I am getting more crochety in my old age

General thoughts follow. Not directed at Benji at all, but sparked by his post.

I think 'advanced techniques' are fine if you've been doing them for years and are consistently profitable at them. But if you haven't even proved yourself on demo with these supposed 'advanced techniques' then why are you posting them?

I use the term 'advanced techniques' very loosely because too often I think it's just a fancy way of saying 'overtrading'....
I am Happy we hav some1 like u in dis thread. u re a real blessing to this thread and i mean it.
  • #55,567
  • Feb 21, 2010 7:43am Feb 21, 2010 7:43am
Quoting benem
Hallo Matt,i took this trade...
Thanks Triger & Benem

As always, failure to look at the bigger picture!
  • #55,568
  • Feb 21, 2010 7:54am Feb 21, 2010 7:54am
Quoting benji533
On the other hand, if you have a small account, risking 1% per trade, and have no problems suffer the draw down time, go for it.
I have a small account, but I am going to treat it exactly like I will treat my future huge account that would bring me the money to support my future family.
An no, I am not going to grow my tiny account to be huge, and only then shift my trading style. I will work hard to earn money from the side, and un the meantime get extremely good at what I do. This is real business.

Great post Benji.

Hunri
  • #55,569
  • Feb 21, 2010 8:30am Feb 21, 2010 8:30am
Quoting daveoz001
Just thought I'd take a minute to say hello.

I only started to read this thread last night, I have only read page 1 so far and am following the directions posted there, I have a LOT of reading AND learning to do!

It seems like this is a great place to do both.

I am very thankful to James16 and the other senior members who contribute so much of their time to share their knowledge and wisdom.
That is a rare gift not many people are willing to give.

Anyway that is enough from me, so a big HELLO to everyone.
And thanks in advance!!!

Dave....
Welcome aboard dave!You will find a great deal of talent around here!If you haven't checked out James free videos here they are.
http://www.james16group.us/

Well good to have you around, if you need any help just ask
  • #55,570
  • Feb 21, 2010 9:10am Feb 21, 2010 9:10am
Quoting chatzi
Bush could barely string a sentence together, you dont want someone like that running the country. Also the USA might get a NHS finally so people without money can get healthcare. Just my opinions.

" So people without money can get healthcare "

OH YEAH.........That's why I'm determined to become a good trader....so I can hand over my hard earned money to these folks.
  • #55,571
  • Feb 21, 2010 9:15am Feb 21, 2010 9:15am
Quoting goldtrader
Good trade for next week? BEOB... the buyers are shaking now, aren't they?
This is 1 trade i will just watch and journal and not trade. i like the bar (the engulfing bar closed slightly below the low of the nxt bar 2 d left on my feed, fxpro), i like the area also but it still falls short of A+ d way i view it. it is just my opinion.

Hunri
  • #55,572
  • Feb 21, 2010 9:22am Feb 21, 2010 9:22am
Have you guys seen the bearish pinbar on the dollar index chart?

http://img638.imageshack.us/img638/9436/dollarindex.jpg

I will be looking to go short on the USD this week
  • #55,573
  • Feb 21, 2010 9:39am Feb 21, 2010 9:39am
Current SL.
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  • #55,574
  • Feb 21, 2010 9:44am Feb 21, 2010 9:44am
Jim!
Curious, how do You handle this kind of situation.
Would You sell the GREEN bar (arrow) low break?
Or not, because...
THX, PH
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  • #55,575
  • Feb 21, 2010 9:53am Feb 21, 2010 9:53am
Quoting mikeb
Have you guys seen the bearish pinbar on the dollar index chart?

http://img638.imageshack.us/img638/9436/dollarindex.jpg

I will be looking to go short on the USD this week
looking at it's size compared to last 2 bars I think it won't fall below bar high's just below it. So becareful.
  • #55,576
  • Feb 21, 2010 11:02am Feb 21, 2010 11:02am
Quoting chatzi
Just watching the training video from j16, thanks Jim lightbulbs going off everywhere. Genius.

Hi Chatzi, where are "training Videos"located?

Thx
av8r
  • #55,577
  • Feb 21, 2010 11:03am Feb 21, 2010 11:03am
Sorry nasir.khan I don't quite understand the "I think it won't fall below bar high's just below it." part. Do you mean it will retest the older resistance, and now support area on the top of the consolidation area? (around 60,80). If so, yeah your right, I see it now, very little space left for a drop. Thanks for comment
  • #55,578
  • Feb 21, 2010 12:06pm Feb 21, 2010 12:06pm
Quoting joelcf
ah, weekends.



No one seriously watches Fox for news*. You might watch a bit of Glenn Beck to find out which liberalmedia nazi democrat communist socialists are trying to steal your children and turn them into gay negro 'snivel libertarian' chinese illegal immigrant spies on welfare, but that's about it.

For business news, I only watch Bloom, CNBC and Sky. Mostly Sky.
At work, we only have Bloom, CNBC and Sky.

Take that how you will.


* on the other hand, its my source of all that is Jack Bauer.
Glenn Beck and Sean Hannity get pretty carried away, so I never really watch them. Though Glenn Beck questioning, and getting a few of Obama's Czars should earn him a place of honor. Thank god for him starting that whole snowball. Got rid of a few very shady characters.

I don't know what Sky is, and I don't get Bloomberg (as I think many Amercans do not, because it often costs extra on cable packages). CNBC can be damn good, just for news (don't even have to get financial news).
  • #55,579
  • Edited 12:56pm Feb 21, 2010 12:42pm | Edited 12:56pm
Quoting Dan Gilbert
I broke down how i see it. With evidence.

Hi Dan

Great chart as always. Looking at the GbpUsd Daily on my FxPro feed it looks like price has broken that support and retested it. This is where I sometimes find it useful to look at a lower timeframe to see how price reacted at a particular level. ( see 2nd chart - 4H ).

This just looked interesting to me as from your chart this isn't immediately evident but can be seen on the FxPro Daily feed without even looking at a lower timeframe.
I know this is just due to the time zone on the different brokers but I think the point I'm trying to make is your chart makes going long possible as there is a bit of room before the first trouble but looking at my chart it would be a definate NO ( besides the obvious fact it not really a Pin bar on my chart ) as the trade would immediately be hitting those previous bar lows.

I know one can trade based purely by looking at the Daily but does anybody else do this. Look at the lower timeframe to see what actually happened at a particular level.

Dan lets assume on your chart there was a bit more room to the first trouble area and based on your Daily chart you decided to take this trade. Would looking at the lower timeframe change your decision or is it just better to only look at the timeframe you are basing your trade on. It just seems in this case doing this could have potentially kept one out of a bad trade.

Ok that got a bit longer than I had intended but would be great if anybody has something to add about this.

Leon
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  • #55,580
  • Feb 21, 2010 1:24pm Feb 21, 2010 1:24pm
Quoting unlv_tj
Glenn Beck and Sean Hannity get pretty carried away, so I never really watch them. Though Glenn Beck questioning, and getting a few of Obama's Czars should earn him a place of honor. Thank god for him starting that whole snowball. Got rid of a few very shady characters.

I don't know what Sky is, and I don't get Bloomberg (as I think many Amercans do not, because it often costs extra on cable packages). CNBC can be damn good, just for news (don't even have to get financial news).
Sky and Bloomberg are news. That is why most Americans are not much on to it. Speaking as a life long American we'd rather be told how to think, rather than think for ourselves and experience the world as it is.

BTW - I kind of enjoy the BBC - maybe it is the accent ...
I'm pretty much done with all this ...
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