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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

  • #55,901
  • Feb 23, 2010 11:25am Feb 23, 2010 11:25am
Quoting Ryanmcd
Mike when are we going to have a J16 yearly get-to-gether?
in vegas right
  • #55,902
  • Feb 23, 2010 11:27am Feb 23, 2010 11:27am
I would like to Thank everybody in this great forum for everything they offered , I mean my performance has improved dramatically before and after I Knew that such great strategy DOES EXIST.
I just want to Thank all of you and especially the guys behind this great thread.
After all , The Best traders ( in my opinion ) are the ones in this forum.:nerd:
  • #55,903
  • Feb 23, 2010 11:29am Feb 23, 2010 11:29am
Quoting mbqb11
in vegas right

Yes no other place I would go. I want to see these mad poker skills in action, I will back ya
Keep taking CT trades, I need more money
  • #55,904
  • Feb 23, 2010 11:33am Feb 23, 2010 11:33am
Quoting triger88990
I submitted to your entire post

just that I heard about this issue that teachers,engineers,doctors,lawyers are from some reason not made for treading

I'm engineer and don't know whay for me is working to be a trader,maybe because I'm a funny guy,but what have this to do with treading...don't know.

The rule is that those jobs aren't made for being a trader.But in order to be a rule there must be something contrary to that rule.

So I'm the exception from the rule,simple math

and I'm telling you that are many successful...
Maybe your not a very good engineer, triger. lol I'm just kidding brother. don't take it the wrong way. lol.
Indicators show the past. Price Action "Indicates" the future.
  • #55,905
  • Feb 23, 2010 11:37am Feb 23, 2010 11:37am
Quoting benji533



Yea indeed. It's time I really do understand the meaning behind your phrases jarroo. It takes time and experience to realize. These are the easiest to manage.
The hard break is a great confirmation for me. It tells that the setup is correct. The Usd/Chf 2 Day is a good example what a weak break tells me. . . something is wrong here. The lack of space didn't help either. lol
Killing that trade should have come sooner for me.

Also the retrace, retest of the break is a great confirmation indication as well.
Indicators show the past. Price Action "Indicates" the future.
  • #55,906
  • Feb 23, 2010 11:42am Feb 23, 2010 11:42am
Quoting jarroo
Maybe your not a very good engineer, triger. lol I'm just kidding brother. don't take it the wrong way. lol.
LOL

maybe is because I'm in my beginning stage of my career as engineer,and I remmeber that back when I was a student I had some issues with my teachers bc of the way I think,although I was a good student with vrey good skills at math and PC, I always had dispute with my teachers,but that's history I graduate university last year

maybe I'm a special guy

all the best!!
  • #55,907
  • Feb 23, 2010 11:47am Feb 23, 2010 11:47am
Quoting triger88990
LOL

maybe is because I'm in my beginning stage of my career as engineer,and I remmeber that back when I was a student I had some issues with my teachers bc of the way I think,although I was a good student with vrey good skills at math and PC, I always had dispute with my teachers,but that's history I graduate university last year

maybe I'm a special guy

all the best!!
You got a good sense of humor, triger.
Indicators show the past. Price Action "Indicates" the future.
  • #55,908
  • Feb 23, 2010 12:10pm Feb 23, 2010 12:10pm
Quoting Ryanmcd
70% chance to lose before you even get in the trade, add emotion, MM and whatever else is going on brings it to about 80-85%. But as the pro's know we have to let you win a few times or else it's just pro's vs pro's and that's no fun

Most people like to be smart and show how good they are at catching the top or bottom, I like making money.
I did't understand what really happened here.

I trade with the trend all day and i do post things before the fact. In fact i snapped this move from 396 to 452. But when i see Fibs+PPZ(daily/weekly) or PPZ(daily/weekly)+Round numbers lining up i do risk 10-30 pips against the trend.

There was no trade by your standard's off course Ryan. There was no Divergence and no way we could take a CT on a lower TF without Divergence.( I actually learned from your posts alot and respect you a great deal)

I took it at 574 with an SL at 584 and it was an S/R (touch) trade . (but i don't like to show/discuss my touch trades)

So i thought we would have a little laugh (and i think Jarroo got it) But all of a sudden i saw a flood of post .

Anyways i think it was some miss communication. (same old dilemma of internet).
.
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  • #55,909
  • Feb 23, 2010 12:30pm Feb 23, 2010 12:30pm
nasir i see alot of chart like the last one that u posted, and i like this style of trading.
can u describe your "check list"(criterion) before entring a trade like this?
tnx.
Wellcome to the good life!
  • #55,910
  • Feb 23, 2010 12:37pm Feb 23, 2010 12:37pm
Quoting yarin
nasir i see alot of chart like the last one that u posted, and i like this style of trading.
can u describe your "check list"(criterion) before entring a trade like this?
tnx.
I have some rules but i don't have a specific check list. This is an aggressive style and involves alot of discretion.

You should better Practice the basics first.
  • #55,911
  • Feb 23, 2010 1:02pm Feb 23, 2010 1:02pm
Quoting yarin
what went worng?
am i the only one who gonna take a full bar loss on this one?
If you're gonna take a counter trend trade then you gotta be looking for pins like this...didn't take this myself as don't trade this pair intraday, but noticed it when scrolling through my daily charts.

Have you noticed the BUOB on the EUR / AUD...how does this compare in size to the pin bar that you took...
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  • #55,912
  • Feb 23, 2010 1:09pm Feb 23, 2010 1:09pm
So Yen went up today. (as expected)

Will they intervene in the morning.??
.
  • #55,913
  • Feb 23, 2010 1:47pm Feb 23, 2010 1:47pm
chart
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  • #55,914
  • Feb 23, 2010 1:50pm Feb 23, 2010 1:50pm
A fair few BEOB / BUOB's on the dailies following todays moves...

A few that are off interest to me attached...

Probably will give EG a miss as the first area of trouble is right below so I would be looking for a quick fast break...but i'll be asleep so will leave it.
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  • #55,915
  • Feb 23, 2010 2:10pm Feb 23, 2010 2:10pm
I am playing this BEOB on NZD/USD, of all the outside bars on my pairs it has the most room to move initally. It also is off a daily ppz and 150 ema. I will be looking at monthly low as target, but moving to BE quickly.

Chatzi
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  • #55,916
  • Feb 23, 2010 2:12pm Feb 23, 2010 2:12pm
What do you think guys about this setup? (Jim, Mike, jarroo?)

My take:
+nice BUOB engulfing several previous bars
+extrem low
+off of the strong support from few years back
+very close from BIG round number (1.5000)
+divergence

-first minor trouble area quite near (30 pips)
-it's against a trend that is lasting 14 months
-didn't close above 3 prevous bars (on gmt+2 time frame, might still close above on gmt+1 or gmt time frame)

I'd say it's A setup for me for sure. Any thoughts?
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  • #55,917
  • Feb 23, 2010 2:20pm Feb 23, 2010 2:20pm
Quoting michal7
What do you think guys about this setup? (Jim, Mike, jarroo?)

My take:
+nice BUOB engulfing several previous bars
+extrem low
+off of the strong support from few years back
+very close from BIG round number (1.5000)
+divergence

-first minor trouble area quite near (30 pips)
-it's against a trend that is lasting 14 months
-didn't close above 3 prevous bars (on gmt+2 time frame, might still close above on gmt+1 or gmt time frame)

I'd say it's A setup for me for sure. Any thoughts?
Hey Michal

My problem lies in the bar itself as opposed to the location. I want to see a much stronger close then that. Although a buob it has a neutral look to it. I need that close higher personally

Best
Mike
  • #55,918
  • Feb 23, 2010 2:29pm Feb 23, 2010 2:29pm
Hey Mike,
thanks for feedback. I'm glad you confirmed one of my worries. If it closed near its high(ideally above 1.5200) I would take this trade(would be first this month).
I go to bed in 30 minutes so if it doesn't go there till then(close gmt+1), no trade for me

I knew something was missing to rate it A+. Appreciate your response.

Cheers,
Mikey
  • #55,919
  • Feb 23, 2010 2:37pm Feb 23, 2010 2:37pm
Short 7 positions just close it all out, yes I do get whipped sometimes when it's sideways but starting with 2% risk for about about 25% gain is worth it. Or you can be smart and play with the 1 position and CT stuff

P.S. Sign up my to Rymacdaddy's billions of pips system! only 3k a seat, seating limitied to 150 and the 1st 50 people get a free stuffed bunny!
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Keep taking CT trades, I need more money
  • #55,920
  • Feb 23, 2010 2:39pm Feb 23, 2010 2:39pm
Quoting michal7
What do you think guys about this setup? (Jim, Mike, jarroo?)

My take:
+nice BUOB engulfing several previous bars
+extrem low
+off of the strong support from few years back
+very close from BIG round number (1.5000)
+divergence

-first minor trouble area quite near (30 pips)
-it's against a trend that is lasting 14 months
-didn't close above 3 prevous bars (on gmt+2 time frame, might still close above on gmt+1 or gmt time frame)

I'd say it's A setup for me for sure. Any thoughts?
The bar setup is an outside bar, but the close isn't that impressive. Also mind that you're going against the daily trend.

The setup may very well work out nicely, but in my book it isn't an A setup.
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