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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

  • #58,121
  • Mar 13, 2010 1:38am Mar 13, 2010 1:38am
Quoting Dan Gilbert
I know this thread is not a signal service, so I'm just going to say two things right now.

1. EURUSD

2. buy-limit



that is all
Dan, can you elaborate on your analysis for the newbies?
  • #58,122
  • Mar 13, 2010 1:47am Mar 13, 2010 1:47am
right lads i believe it is my turn to contribute to the best thread on the net.. i was telling Jim last night over email that i have taken 20 trades since end of November which only have 3 losers (2 of them were trading errors).

After 5 years of seeking success in this business i am finally finding it. Going to give myself another 2-3 more months before i start throwing money into it. I spent thousands on education (including mentoring) and all that i needed in the end was £80 (one month) on the premium J16 forum for it to resonate home with me and here i am today.

Long way to go still but this has been the longest running consistency i have ever achieved. I keep expecting to have a string of losers but the winners keep coming. moreover, i am learning more from trading errors than ever before. its like i finally understand the market. What i just dont understand is how can these institutions pay thousands per news terminal for their traders when they don't even need it.

any way enough ramblings here is a screen shot of my success with J16 to date. i am still experimenting with breaking up the trading into multiple targets but i feel that taking it all at the first target could reward more since most of my trades get stopped out with only half the position closed out for profit. maybe i need to refine that %.
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  • #58,123
  • Mar 13, 2010 1:48am Mar 13, 2010 1:48am
here are the charts promised, trades made this week.
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  • #58,124
  • Mar 13, 2010 2:21am Mar 13, 2010 2:21am
Quoting Jonners67
Dan, can you elaborate on your analysis for the newbies?
I think some where here (arrow).
.
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  • #58,125
  • Mar 13, 2010 4:00am Mar 13, 2010 4:00am
Quoting nasir.khan
I think some where here (arrow).
.
or maybe here?
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  • #58,126
  • Mar 13, 2010 4:41am Mar 13, 2010 4:41am
I see breakdown, so according to rules I should wait for pullback and PA, right?
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  • #58,127
  • Edited 7:31am Mar 13, 2010 7:17am | Edited 7:31am
Quoting g_j_hook@yah
hi Jarroo, thanx and im glad you brought this up. when the swing high/low is fairly small and the PA bar goes right through 2 or 3 fib ,levels do you still take that as serious as any other??i.e a bar which forms at the end of a longer swing h/l and is easily contained within one fib level. to me sometimes it seems too unevitable that the bar will pass through/to a level or stop near by that level andsometimes i lose confidence in the signal.what i tend to do is go down a frame or 2 and see price did at those levels to try and see if they are...

Hey jon.

Let's back up a bit. Fib levels, 50% Ret., EMAs, RNs, Trendlines, Divergence, etc., all have their unique trading tool characteristic by themselves. But we don't use them by themselves. We use them as a confluencing tool. They hold little or no strength when used alone (imo).

But when they are confluencing with a major or minor PPZ level or even a S or R level, they gain much more strength. And the more of them the merrier.

I do look at fib levels/50% ret. levels as zones, not as an exact horizontal line. I'm still learning that from Rac.

A few examples on the same pair (Nzd/Cad). They can be found on any pair.


Edit: With that being said, did I come close to answering your question, jon ? or did I miss it. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #58,128
  • Mar 13, 2010 8:01am Mar 13, 2010 8:01am
Quoting Asmodeus8
I see breakdown, so according to rules I should wait for pullback and PA, right?
Some strong bearish PA wouldn't be a bad play off the 1.0300 or 1.0200.

We are still in the middle of a strong PPZ level on the Weekly. Let's see if Price can show us a sign, PA style.
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Indicators show the past. Price Action "Indicates" the future.
  • #58,129
  • Mar 13, 2010 8:04am Mar 13, 2010 8:04am
Quoting squeezy
shiiiish!!! since monday ...lol
have a lovely weekend guys
btw: anybody take the gold 4hr rac attack....it was a pretty fast approx 4R for me (good for the demo acc)

Nice chart squeezy and entry. Rac would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #58,130
  • Mar 13, 2010 8:14am Mar 13, 2010 8:14am
Quoting jarroo
Some strong bearish PA wouldn't be a bad play off the 1.0300 or 1.0200.

We are still in the middle of a strong PPZ level on the Weekly. Let's see if Price can show us a sign, PA style.
My man Jim always knows what's up! I wouldn't trade that down for the life of me right now, however if we get a two week pin or something of that nature, I would definitely trade it back to the top of the range. It's impossible to "predict" these things though because things change so often and you have to do it right along with them.
I dream, therefore I become.
  • #58,131
  • Mar 13, 2010 8:24am Mar 13, 2010 8:24am
Quoting mike w
My man Jim always knows what's up! I wouldn't trade that down for the life of me right now, however if we get a two week pin or something of that nature, I would definitely trade it back to the top of the range. It's impossible to "predict" these things though because things change so often and you have to do it right along with them.
I hear you Mike. Could be a fake out down, you never know. Although that dive down looks pretty strong. I do like Asmodeus8's Pullback/PA approach. Should be fun to see how it plays out.
Indicators show the past. Price Action "Indicates" the future.
  • #58,132
  • Mar 13, 2010 9:50am Mar 13, 2010 9:50am
Quoting jarroo
I hear you Mike. Could be a fake out down, you never know. Although that dive down looks pretty strong. I do like Asmodeus8's Pullback/PA approach. Should be fun to see how it plays out.
Most definitely! There's a chance to make money on it either way, depending on the PA that pops up.
I dream, therefore I become.
  • #58,133
  • Mar 13, 2010 9:54am Mar 13, 2010 9:54am
Hi guys! Im back (hope you still remember me ). I had a few hard exams in the past month so i had no time to trade and since this thread is moving so fast i was also unable to follow you guys. For now the college is in first place for me.

So after one month of absence i see that you guys where very busy - you wrote over 4000 posts which is equal to more or less 150 pages . I have a lot to read now, better that i start right now so that i can catch up with you.

PS:Keep up the good work.
  • #58,134
  • Mar 13, 2010 10:44am Mar 13, 2010 10:44am
Thanks Jaroo and Mike, you give me confidence that I can at least spot that’s something is going on Sign up to James group this month and just following what I’ve been told. Anyway grate job lads.
  • #58,135
  • Mar 13, 2010 11:05am Mar 13, 2010 11:05am
Quoting Bollocks
right lads i believe it is my turn to contribute to the best thread on the net.. i was telling Jim last night over email that i have taken 20 trades since end of November which only have 3 losers (2 of them were trading errors).

After 5 years of seeking success in this business i am finally finding it. Going to give myself another 2-3 more months before i start throwing money into it. I spent thousands on education (including mentoring) and all that i needed in the end was £80 (one month) on the premium J16 forum for it to resonate home with me...
Awesome dude! Continued success going forward

Mike
  • #58,136
  • Mar 13, 2010 11:07am Mar 13, 2010 11:07am
Quoting jarroo
Some strong bearish PA wouldn't be a bad play off the 1.0300 or 1.0200.

We are still in the middle of a strong PPZ level on the Weekly. Let's see if Price can show us a sign, PA style.
I would love a real strong push to 1
  • #58,137
  • Mar 13, 2010 11:10am Mar 13, 2010 11:10am
Quoting mbqb11
I would love a real strong push to 1
I wonder how many orders are sitting right there...man, it's interesting just to think about IMO. Good god, I'm a nerd.
I dream, therefore I become.
  • #58,138
  • Mar 13, 2010 1:07pm Mar 13, 2010 1:07pm
kind of a lousy weekly I4B, size-wise. But those trendlines tell a nice story, and will provide some amazing opportunities.
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Many choose unhappiness over uncertainty.
  • #58,139
  • Mar 13, 2010 2:01pm Mar 13, 2010 2:01pm
Quoting Dan Gilbert
kind of a lousy weekly I4B, size-wise. But those trendlines tell a nice story, and will provide some amazing opportunities.
its weekend, just playing around with my charts
please dont pay any attention to me
have a couple more scenarios
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Simplicity is the key to success
  • #58,140
  • Mar 13, 2010 2:34pm Mar 13, 2010 2:34pm
selected only this 2 chart among others

first chart GBPCHF

Curent price was rejected off of one big round number 1.6, and we have a clear setup I6B with the last 2 candel having 2 matching highs at 1.6119

second chart GBPAUD

a nice PB off weekly chart

After the huge sell of when no one wants a currency,one can dare to take a falling knife

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