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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

  • #58,061
  • Mar 12, 2010 6:28am Mar 12, 2010 6:28am
Quoting nasir.khan
I like to see a PIN now.
.
Well... according to j16, yes. But for me, I'm already short from 1.02 and would probably add another unit after I see a pin.

Quoting KissFan
This one is no longer on my watch list. 1.0018 maybe?

K.I.S.S.
Yea.. we have the same first target
  • #58,062
  • Mar 12, 2010 6:33am Mar 12, 2010 6:33am
So,

Will history repeat itself??

Lets see.
.
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  • #58,063
  • Mar 12, 2010 6:36am Mar 12, 2010 6:36am
Quoting wh1zz0
There you go... The loonie makes a new two year low..
I read this and my first reaction was " no it's bloody not! it was only... (checks chart)" ..where the hell has that time gone!

don't you just hate when that happens (or is it just me lol could well be)
  • #58,064
  • Mar 12, 2010 7:02am Mar 12, 2010 7:02am
Here is what we got this week. You can rate these from A+ to C- , CT, no CT - trade all of them, none of them, some of them, I don't care.

7 James16 principal daily setups this week. All of them made money, even those you shouldn't take if you are picky. Cant be simpler than that...the only problem is your crappy mind.

It is what it is. If you don't understand, shoot me a PM. This is not any mysterious market sentiment behavior which took me 10 years of trading to discover and worth 30 billions so I can't tell you for free. No crap no nonsense no secrets no ego. Just an extremely simple technical edge James16 teaches, which is very easy to grasp.

Now pick only the best 3 per month and what edge can be better than this simple stuff? Believe me all you need is a few minutes before bed time when daily bars close and that's it.
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  • #58,065
  • Mar 12, 2010 7:03am Mar 12, 2010 7:03am
charts
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  • #58,066
  • Mar 12, 2010 7:07am Mar 12, 2010 7:07am
Quoting nasir.khan
Can't say about the Flags but this is interesting. (nice SHS in 4h)
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That's nice.
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  • #58,067
  • Mar 12, 2010 7:51am Mar 12, 2010 7:51am
Hi guys,

10 min left and we will have nice setups if you ask me.

Good luck.
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  • #58,068
  • Mar 12, 2010 8:09am Mar 12, 2010 8:09am
I have spotted something, I might be wrong but i think that the better setup there is, the less seniors talks about it..
  • #58,069
  • Mar 12, 2010 8:21am Mar 12, 2010 8:21am
Quoting Nawry
I have spotted something, I might be wrong but i think that the better setup there is, the less seniors talks about it..
ok, and why should they do so?
meine augen sind die sterne
  • #58,070
  • Mar 12, 2010 8:29am Mar 12, 2010 8:29am
Quoting Nawry
I have spotted something, I might be wrong but i think that the better setup there is, the less seniors talks about it..
if you believe u have a good setup put it up for discussion, you don't expect senior members to do analysis for you
remember this is not a signal service.
Simplicity is the key to success
  • #58,071
  • Mar 12, 2010 8:39am Mar 12, 2010 8:39am
Nice charts, benji.

I also check the charts before going to bed (00:00 GMT Portugal) and sometimes I don't take trades cause the first trouble area is quite close and I might not be around when prices reaches it.
I believe you face the same problem and you just go around it taking full profit on that first trouble area (0.25R, 0.4R, 0.75R .... whatever).

My question is: Do you set you SL beyond the PA bar or do you adjust it based on the distance to the first trouble area or something else like beyond left eye or round number. I'm sure it depends on the situation but just like to have some thoughts from you.

Once again, congratulations for the trades.

Nos




Quoting benji533
Here is what we got this week. You can rate these from A+ to C- , CT, no CT - trade all of them, none of them, some of them, I don't care.

7 James16 principal daily setups this week. All of them made money, even those you shouldn't take if you are picky. Cant be simpler than that...the only problem is your crappy mind.

It is what it is. If you don't understand, shoot me a PM. This is not any mysterious market sentiment behavior which took me 10 years of trading to discover and worth 30 billions so I can't tell you for free. No crap no nonsense...
  • #58,072
  • Mar 12, 2010 8:42am Mar 12, 2010 8:42am
Quoting squeezy
if you believe u have a good setup put it up for discussion, you don't expect senior members to do analysis for you
remember this is not a signal service.
Absolutely agree, my intention was to make a little smile on your faces In fact I'm very satisfied that it is like it is, it suits me very well that nobody is telling me "put your order here because there is a pinbar and your s/l here or here, your target set at x.xxxxx" or something like that, i really admire form of this thread.
  • #58,073
  • Mar 12, 2010 9:42am Mar 12, 2010 9:42am
I've got my eye on this one. EURCAD H4 BEOB.

1. Large BEOB
2. Off confirmed TL
3. With established downtrend
4. At swing high.

Cons:

Price currently stalled at PPZ, marked in red. Will wait for break. First trouble area expected to be recent lows.

Price has already broken below BRN 1.4000.

- TTP -
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  • #58,074
  • Mar 12, 2010 10:09am Mar 12, 2010 10:09am
Have most people who have a pending trade for the G/U weekly canceled there order. This is an interesting situation becasue it looks to be forming another smaller pin at the 1.50 BRN.

Also it is getting late on Friday and I am worried my order will trigger as more of a TP of the market then as a gneuone strong move.

Any thougths on this?
  • #58,075
  • Mar 12, 2010 10:13am Mar 12, 2010 10:13am
Quoting takingthepip
I've got my eye on this one. EURCAD H4 BEOB.

1. Large BEOB
2. Off confirmed TL
3. With established downtrend
4. At swing high.

Cons:

Price currently stalled at PPZ, marked in red. Will wait for break. First trouble area expected to be recent lows.

Price has already broken below BRN 1.4000.

- TTP -
Looks good as a continuaton bar to me...just not keen on trading these on friday afternoons, but thats just me.
  • #58,076
  • Mar 12, 2010 10:18am Mar 12, 2010 10:18am
Quoting dmc
Have most people who have a pending trade for the G/U weekly canceled there order. This is an interesting situation becasue it looks to be forming another smaller pin at the 1.50 BRN.

Also it is getting late on Friday and I am worried my order will trigger as more of a TP of the market then as a gneuone strong move.

Any thougths on this?
I didn't. In fact i went long on Wednesday's PB (took half off at FTA, moved stop to BE). Pending order still holding. I would have went long on 61.8% retracement, but i'm trying to wait only for good solid valid (and so on) setups.

Seems it might get filled..

Yeah it did just now.
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  • #58,077
  • Mar 12, 2010 10:23am Mar 12, 2010 10:23am
Quoting FXMaecenas
Hi guys,

10 min left and we will have nice setups if you ask me.

Good luck.
For USDCHF, I take the pin as some pause, you can develope a theory to trade when price break the nose of the pin (i mean more down ), it's just me...
Back to the beginning ... demo
  • #58,078
  • Mar 12, 2010 10:30am Mar 12, 2010 10:30am
I was trying to demonstrate to a trading friend the power of trading on the higher time frames as he is not convinced...personally I trade both the higher setups and intraday too, but I pulled up an EU chart and drew a few lines and within a few minutes I showed him how he could be sitting 18.5R in profit from november last year on EU shorts...

Chart attached.

The obvious setups to take would have been:

1. pin bar at double top.
2. pin bar on pull back at PPZ
3. Aggresive breakout
4. break out and pullback
5. breakout and pullback.

Now if you had used 2% of balance for each trade and put stops initally at the top of each PA or 50 pips for the breakout trades and had moved all stops down as we go with it currently being at 1.3850 (i.e. 50pips above the 1.3800 PPZ area) then you would be sitting on about 18.5R or 37% account growth at the present time.

Now this is just one chart from at least 20 available on most feeds and on one time frame...you obviously need to be very patient to ride out the long trends like this and trade what the chart is telling you rather than your P&L...but if you can control your emotions in this respect then there is some serious account growth to be made by just trading the higher time frames.

As I mentioned I trade from 5min to weekly time frames with different methods for each, but the power of the higher timeframes should not be underestimated and you CAN grow your account quickly just by trading the higher timeframes.

Note: he actually trades the equity markets more than FX so I did the same exercise on the FTSE for him too...probably missed a few there though as didnt look in depth just market the blatantly obvious setups.
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  • #58,079
  • Mar 12, 2010 10:31am Mar 12, 2010 10:31am
Quoting KissFan
This one is no longer on my watch list. 1.0018 maybe?

K.I.S.S.
That's interesting. I trade with with IG Index and this pin broke - but not according to your feed. Is this because of my trading platform (Joelcf replied to me on this a couple of days ago)?

That makes 3 losses out of 3 for the month (two pants entires chasing trading). Finding this concept simple but terribly frustrating and disenchanted after better than break even paper trading for 3 months - just dripping cash slowly out now that it's for real.

Back to the learning board.

PS Just triggered my weekly cable buy - now thinking I should have removed the limit buy as good ppz and original PA, but no divergence. In at 15210 (above BRN) with target 1 @ 15390 (good R/R) and target 2 15550 at bar lows.

Someone tell me this analysis is vaguley close!

Rant over!
  • #58,080
  • Mar 12, 2010 10:39am Mar 12, 2010 10:39am
Quoting dmc
Have most people who have a pending trade for the G/U weekly canceled there order. This is an interesting situation becasue it looks to be forming another smaller pin at the 1.50 BRN.

Also it is getting late on Friday and I am worried my order will trigger as more of a TP of the market then as a gneuone strong move.

Any thougths on this?
I just checked and my pending orders have been activated...I'm happy to let it ride, the reason why I put a pending order there initially is still the same.
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