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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

  • #56,741
  • Mar 1, 2010 10:30pm Mar 1, 2010 10:30pm
Quoting spookie94
How do you get to that area?
Here you go spookie;

http://www.james16group.us/Guests/guestmaterial.html
Indicators show the past. Price Action "Indicates" the future.
  • #56,742
  • Edited 11:33pm Mar 1, 2010 11:10pm | Edited 11:33pm
Quoting mbqb11
Hey Jim^2

You are right it is all about location. I always add the caveat these days that ultimatly the bars are triggers and location is everything. So I just try to stress(since I think more beginners in the public thread) the traditional spots. What I do want everyone to know is that I take trades at all areas. Continuations, pullbacks, open space etc. So I thought I would just note that. But I can usually tell when someone is just looking at the bar as opposed to you understanding the location. So I think the ability to play the different...

Hey Mike, that Daily Aud/Nzd continuation PB is turning out nicely. Maybe we'll hit some long term highs. Or, of course maybe that juicy BRN, 1.3000.
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Indicators show the past. Price Action "Indicates" the future.
  • #56,743
  • Mar 1, 2010 11:23pm Mar 1, 2010 11:23pm
Quoting mbqb11
Hey Jacob

In the PF we had some Mac users trouble shooting this seemed to work for most so hopefully it does for you...

I'll give this a shot in the morning. Thanks!
  • #56,744
  • Mar 1, 2010 11:44pm Mar 1, 2010 11:44pm
This will happen over and over and over again...can't help smiling at it each time it presents itself...a "confluence-laden" A+ setup doing exactly what you should expect it to do.

g.
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I believe . . .
  • #56,745
  • Mar 2, 2010 12:14am Mar 2, 2010 12:14am
Quoting ghous
This will happen over and over and over again...can't help smiling at it each time it presents itself...a "confluence-laden" A+ setup doing exactly what you should expect it to do.

g.
Nice One.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #56,746
  • Mar 2, 2010 12:30am Mar 2, 2010 12:30am
Quoting Cherry
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
Cherry,
I've had no problems with the videos myself, I am on Vista so don't know if that would matter, but if I ever have troubles with a video in windows mp,
I watch them on GOM player, I don't think there is a video it won't play......not any I've found anyway!!!!!!!
Good luck,
Dave.
  • #56,747
  • Mar 2, 2010 12:31am Mar 2, 2010 12:31am
Quoting ertorque
Hi Oromek,

Understand that Jaroo and Goldtrader have given their comments on the failed BEOB. Here I notice a few other probable setups that present itself. Some work out and some didn't.

PA1 - BEOB, off 61% FIB, shortlived and price went back up, swing high could be more prominent though
PA2 - BEOB, off 61% FIB,...
hi ertorque
i'n my opinion there is absolutly no reason to start doubting on PA. Take into account that properly managed every of your setups should finish at BE in the worst case, and PA2 and PA3 should earn some pips. My full bar loss was casued by opening position exactly on SR (caused by short experience). From hindsight i should do:
1. leave this setup as it's definitely not A+ setup, and very close to first trouble area
2. open a position exactly at BEOB break, and move SL to BE at place where i opened my trade

This is the effect when someone (me) try to advance to the next level too quick, and starts to play with "so-so" setups, while there is still a lot of to learn with A setups. On the other hand is there a better way to learn something, than on your own faults?
Taking your setups and managing according to rules should bring you some nice pips, so why to doubt?
cheers
oromek
  • #56,748
  • Mar 2, 2010 12:40am Mar 2, 2010 12:40am
Quoting oromek
hi ertorque
i'n my opinion there is absolutly no reason to start doubting on PA. Take into account that properly managed every of your setups should finish at BE in the worst case, and PA2 and PA3 should earn some pips. My full bar loss was casued by opening position exactly on SR (caused by short experience). From hindsight i should do:
1. leave this setup as it's definitely not A+ setup, and very close to first trouble area
2. open a position exactly at BEOB break, and move SL to BE at place where i opened my trade

This is the effect when someone...
The stand out trade there has 2 of the most important "secrets" in my trading. Size and BRN. The others are easily passable in my books. All still went to where you would expect them to stall. It is understanble to doubt something when not fully understanding it. But you have to persevere through that to get to the point you do. No one can get you fully there but yourself.

Just a mini rant I am catching my breath from tonight LOL
Mike
  • #56,749
  • Mar 2, 2010 1:04am Mar 2, 2010 1:04am
Hey guys,
Can someone tell me if there is a post anywhere, or maybe create one that has a list of the abbreviations commonly used on the thread?

I have figured out most, but Mike just threw out another that has me scratching my head......BRN......or maybe it's not supposed to be figured out as it's one of his "secrets".

C'mon Mike share the secret......Buy Right Now......Big Red Nuts.....Boys Rule the Nest.....

See what I'm going through.......and I know what you're thinking........Bloody Rude Newcomer!!!!!!!!!!!!

All jokes aside is there a post?????????

Thanks
Dave
  • #56,750
  • Edited 9:34am Mar 2, 2010 1:08am | Edited 9:34am
Quoting daveoz001
Hey guys,
Can someone tell me if there is a post anywhere, or maybe create one that has a list of the abbreviations commonly used on the thread?

I have figured out most, but Mike just threw out another that has me scratching my head......BRN......or maybe it's not supposed to be figured out as it's one of his "secrets".

C'mon Mike share the secret......Buy Right Now......Big Red Nuts.....Boys Rule the Nest.....

See what I'm going through.......and I know what you're thinking........Bloody Rude Newcomer!!!!!!!!!!!!

All jokes aside...

hahah even though it is 4am and I am in desperate need for sleep you just made me laugh out loud

BRN = Big Round number. It is soemthing I have sort of termed in my own way of the round numbers every 500 pips. instead of regular round numbers.

As for the rest of the abbreviations here is off the top of my head.

PPZ = price pivot zone
BEOB = bearish outside bar
BUOB = bullish outisde bar
pin = pinbar
DBLHC = double low higher close
DBHLC = double high lower close
TBH = two bar high
TBL = two bar low
IB = inside bar
I4b = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trendline
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = countertrend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back
I will add to this if I think of anything in the next 5 mins

Mike
  • #56,751
  • Edited 1:29am Mar 2, 2010 1:14am | Edited 1:29am
Quoting mbqb11
hahah even though it is 4am and I am in desperate need for sleep you just made me laugh out loud

BRN = Big Round number....
Thanks Mike,
I'll keep this post in a safe place, glad I made you laugh.... you need get some sleep......'cause its 7.00pm here and you've been up for 15 hours longer than you think!!!!!!
Dave.

P.S I should have figured it out.... I have heard you use it in your videos!
  • #56,752
  • Mar 2, 2010 1:16am Mar 2, 2010 1:16am
Apart from the obvious 8950 support, what does anybody think of the BEOB below?

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Gone to a better place
  • #56,753
  • Mar 2, 2010 1:18am Mar 2, 2010 1:18am
Quoting mbqb11
BO + PB = breakout + pullback
I'd like to make an amendment to the current Bill before the house to rename BO + PB to be BOP for break out pull back from this day forward.

Can I get second?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #56,754
  • Mar 2, 2010 1:34am Mar 2, 2010 1:34am
Quoting oromek
hi ertorque
i'n my opinion there is absolutly no reason to start doubting on PA. Take into account that properly managed every of your setups should finish at BE in the worst case, and PA2 and PA3 should earn some pips. My full bar loss was casued by opening position exactly on SR (caused by short experience). From hindsight i should do:

cheers
oromek
Hi Oromek,
Thanks for the comments. The 'dent' in my confidence I guess came about after seeing what I deemed as passable setups ended in opposite directions. On second (and 3rd and 4th) thoughts, you were right abt those losing trades if managed properly would yield no losses (BE) and would in effect generate net positive gains with all 4 setups.
I don't understand your remark that entry is poor because it is done at S/R zone. I had thought the location is good since there are confluences of BRN of 80, off 38.2% of 2 FIBs (green and blue levels in my chart). The only cons according to our seniors are the bars not being big enough and probably space. Have I misunderstood you?

Quoting mbqb11
The stand out trade there has 2 of the most important "secrets" in my trading. Size and BRN. The others are easily passable in my books. All still went to where you would expect them to stall. It is understanble to doubt something when not fully understanding it. But you have to persevere through that to get to the point you do. No one can get you fully there but yourself.
Just a mini rant I am catching my breath from tonight LOL
Mike
Hey Mike,
If it is from you, rant all you want, I do not mind at all
Seriously, my previous post was a rant from myself.
Which is your stand out trade? Do you mean PA2 (off BRN 82) or PA3 (off BRN 80)?
Thanks for the words of encouragement.

CY
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  • #56,755
  • Mar 2, 2010 1:35am Mar 2, 2010 1:35am
Quoting LasVahGoose
I'd like to make an amendment to the current Bill before the house to rename BO + PB to be BOP for break out pull back from this day forward.

Can I get second?
I'll put both options on my list, but I think Mike will have to be the one to approve it.

But it might have to wait 'cause I think he's
  • #56,756
  • Mar 2, 2010 1:43am Mar 2, 2010 1:43am
Quoting LasVahGoose
I'd like to make an amendment to the current Bill before the house to rename BO + PB to be BOP for break out pull back from this day forward.

Can I get second?

Sounds good.

BOP = Big Opportunity for Profit??

I'm glad you explained what it means or who knows what Daveoz001 would have come up with. That made me laugh too.
  • #56,757
  • Mar 2, 2010 1:52am Mar 2, 2010 1:52am
Quoting mbqb11
hahah even though it is 4am and I am in desperate need for sleep you just made me laugh out loud

BRN = Big Round number....
Mike,

Maybe it would be a good idea to add a glossary to the opening post of this thread, since questions about abbreviations are being asked so frequently?

Boy
It's not about how much you make, it's about how much you don't lose.
  • #56,758
  • Mar 2, 2010 1:55am Mar 2, 2010 1:55am
Quoting ertorque
...
I don't understand your remark that entry is poor because it is done at S/R zone. I had thought the location is good since there are confluences of BRN of 80, off 38.2% of 2 FIBs (green and blue levels in my chart). The only cons according to our seniors are the bars not being big enough and probably space. Have I misunderstood you?
...
CY
take a look at Jim's response to my post: http://www.forexfactory.com/showpost...ostcount=56673
i entered exactly where the blue line is on his chart, 10 pips under low of BUOB. I should move my SL to BE there, not open a trade, that was my fault.
i attach his chart again
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  • #56,759
  • Mar 2, 2010 2:09am Mar 2, 2010 2:09am
Quoting oromek
take a look at Jim's response to my post: http://www.forexfactory.com/showpost...ostcount=56673
i entered exactly where the blue line is on his chart, 10 pips under low of BUOB. I should move my SL to BE there, not open a trade, that was my fault.
i attach his chart again
Gotcha this time!
Thanks buddy.
  • #56,760
  • Mar 2, 2010 2:11am Mar 2, 2010 2:11am
Quoting jarroo
Hey Mike, that Daily Aud/Nzd continuation PB is turning out nicely. Maybe we'll hit some long term highs. Or, of course maybe that juicy BRN, 1.3000.
Hey jaroo, i knew you'd like this trade..... i think you may of missed my post( below) in response to trigger, but it's funny how we both used the word "juicy".

take it easy

ic

Quoting icarusfx
hi trigger although i agree with your analysis.... the pa looks better from the 1h tf , a nice pin from 1.2800 down to the 1.2750 res and back. This pin also came with some good div.

but my main point is, this trade would also be good for the same reasons you mentioned as being a problem (multi year high's) I would expect jaroo would probably agree (although he may not) but to establish a zero risk position before a test of these highs seems like a juicy proposition to me from a r/r perspective!?!

regards ic
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