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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

  • #58,601
  • Mar 18, 2010 9:41am Mar 18, 2010 9:41am
Possible stop loss placements in black.

Below the bar that breaks.

Below the Daily PPZ, 125.25.

Below the PB.
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Indicators show the past. Price Action "Indicates" the future.
  • #58,602
  • Mar 18, 2010 9:42am Mar 18, 2010 9:42am
Quoting StoragePro
Ain't it the truth....
I jumped quite a bit in OZ and the US and i think it's something everyone should do at least once.... i still vividy remember the first time i climed out the door of a little cessna onto the wheel b4 dangling from the wing strut then letting go.... i felt like james bond 10000 ft up climing on the outside of a plane (it's amazing how quickly you get used to something like that)


i recommend Jim Wallace to new jumpers as he's a really nice chap who been about for years (from the 70's) if i remember correctly logging 10k plus jumps (he's also the person the cameron diaz's of the world jump with) he's based in perris valley and they also have a wind tunnel (and swimming pool for the kids to mess about in)

sorry if i sound like an infomercial.

regards ic

ps, go on jump you know you want to :oD
  • #58,603
  • Mar 18, 2010 10:22am Mar 18, 2010 10:22am
Jarroo, remember that H4 TL I mentioned today?
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One Chart is Worth Ten Thousand Words.
  • #58,604
  • Mar 18, 2010 10:27am Mar 18, 2010 10:27am
Quoting Forex007
Jarroo, remember that H4 TL I mentioned today?
Yeah I see. It lines up with that 1st trouble area as well.
Indicators show the past. Price Action "Indicates" the future.
  • #58,605
  • Mar 18, 2010 10:33am Mar 18, 2010 10:33am
Quoting jarroo
Possible stop loss placements in black.

Below the bar that breaks.

Below the Daily PPZ, 125.25.

Below the PB.
I'm gonna give this some time and room...USD has strengthened quickly across the board (good for my EU short!) but the EJ , GJ etc is holding up ok...JPY is looking weak...a bit wishy washy argument I know! My stop is a few pips below the main PPZ.
  • #58,606
  • Mar 18, 2010 10:35am Mar 18, 2010 10:35am
nothing to say here. nice trade so far
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  • #58,607
  • Mar 18, 2010 10:37am Mar 18, 2010 10:37am
Quoting 4X=0
Some of James' earlier educational charts are using futures markets....

Thank you so much for your post 4X=0. I truly appreciate you taking the time to respond. Trading the ES can be a bit frustrating on the lower tick charts...especially for a beginner trader. I've been thinking about FX for a long time and I feel that its time to make the jump. This thread and the teachings (and people) have given me even more reason to make the switch. If it will help me to refine the J16 techniques, and allows me to post on this thread more frequently, then I'll be a happy trader.

Thanks again and take care,
  • #58,608
  • Mar 18, 2010 10:55am Mar 18, 2010 10:55am
A 'touch trade' opportunity for some people I think
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  • #58,609
  • Mar 18, 2010 10:57am Mar 18, 2010 10:57am
Quoting lovejoy80
I'm gonna give this some time and room...USD has strengthened quickly across the board (good for my EU short!) but the EJ , GJ etc is holding up ok...JPY is looking weak...a bit wishy washy argument I know! My stop is a few pips below the main PPZ.
The below PPZ is a good SL placement and this Eur/Jpy 4 hour PB could work out nicely before its low is taken out.

But the main point of this little exercise . . . Is this an A+ setup? No.

The size looks good but could be bigger, off a PPZ level, some fib ret., possible up trend forming from the Daily and so on. But it was it the middle of bad traffic . . no space. The swing low could be lower. This being on the 4 hour time frame we need to meet these high standards even more to really get a strong PA signal.

As we get pickier and picker on our setups these types of setups are passed on 9 times out of 9.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #58,610
  • Mar 18, 2010 11:11am Mar 18, 2010 11:11am
Quoting 4X=0
nothing to say here. nice trade so far
Congrats! Very nice trade.

The price has exactly hit the 1st trouble area.

However, I didn't take this trade as I am still hesitating on the size of the pin bar. Anyway, I gotta learn more.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,611
  • Mar 18, 2010 11:12am Mar 18, 2010 11:12am
Quoting mbqb11
I think those who are starting on the daily/weekly as per james need to watch more charts. Commodities, futures, equities, more forex pairs(don't fear those exotics ).

Nothing wrong with watching the lower timeframes if you have the time, chart time is always good. But keep your J16 minimum requirements demo on its own.

Just my thoughts of course
Mike
cheers, looks like i need to expand my 'portfolio' to anything and everything and pick the best opportunities
  • #58,612
  • Mar 18, 2010 11:17am Mar 18, 2010 11:17am
Quoting lovejoy80
A 'touch trade' opportunity for some people I think
Hi Lovejoy,

Thank you for the chart. It may seem a dumb question to ask but may I know what a "touch trade" is about? I have seen this term through some posts and still can't figure out what it means....I apologize if it was mentioned somewhere in the thread, as I have only read the 1st 200 pages and the later pages since Mar 2010.

Many thanks to you and other great seniors!
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,613
  • Mar 18, 2010 11:28am Mar 18, 2010 11:28am
Rumors that the US may raise the discount rate later today are the reason for USD strength.
  • #58,614
  • Mar 18, 2010 11:33am Mar 18, 2010 11:33am
Hi Guys,

I had a buy order on the GBP / USD set at 15220 and I can see from IG's charts that price went to this level at around 3pm however my order did not get filled! Price has subsequently gone 30 pips in my anticipated direction since!

Can I get IG to somehow manually fill my order at that price?

This along with yesterdays discussion on rolling contracts is starting to annoy me now!!

Thanks,

MP.

  • #58,615
  • Mar 18, 2010 11:43am Mar 18, 2010 11:43am
Quoting s005606
Hi Lovejoy,

Thank you for the chart. It may seem a dumb question to ask but may I know what a "touch trade" is about? I have seen this term through some posts and still can't figure out what it means....I apologize if it was mentioned somewhere in the thread, as I have only read the 1st 200 pages and the later pages since Mar 2010.

Many thanks to you and other great seniors!
I am certinaly not the person to be asking about these types of trades as I am still learning and demoing this style of trading.

To be honest (and I dont mean to be patronising) but I would forget all about touch trading and focus on PA with high amounts of confluence at great locations on the higher time frames....that stuff is pure gold and should keep you busy. Take it one step at a time and learn this method and become profitable doing this method and then try out other trading techniques in addition to this one if you want...it is easy to over clog ones mind with lots of different trading styles and techniques when starting out when I would would recommend sticking to the core of what this thread is about...doing your research, reading, studying, practicing and asking questions.
  • #58,616
  • Mar 18, 2010 11:52am Mar 18, 2010 11:52am
Quoting lovejoy80
I am certinaly not the person to be asking about these types of trades as I am still learning and demoing this style of trading.

To be honest (and I dont mean to be patronising) but I would forget all about touch trading and focus on PA with high amounts of confluence at great locations on the higher time frames....that stuff is pure gold and should keep you busy. Take it one step at a time and learn this method and become profitable doing this method and then try out other trading techniques in addition to this one if you want...it is easy to...
Thank you Lovejoy for your reply. Sure I agree with you that I have to learn and practice more on PA, there's still a long way for me to go.....was just curious about term anyway......

I suppose this should be some advance stuff and I'd better leave it till I've managed well the PA basics.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,617
  • Mar 18, 2010 11:53am Mar 18, 2010 11:53am
Quoting triger88990
Time for making some decisions.........

when you are trying to catch up some swing position you must be prepare for a large drawdown, you must have a god mental shape for this kind of trade.you must know yourself otherwise you will suffer a lot if you get emotional with your trades.For me it doesn't bother me at all the DD.

All you need is to know from what points those DD can be a reversal signal,so you can KILL IT

gj is up by 7R= 14%
ej is up by 10R=20%
uj is up by 12R=24%

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Sir may I know where are your initial stoploss in this three charts? Thank you.
  • #58,618
  • Mar 18, 2010 12:09pm Mar 18, 2010 12:09pm
Quoting lovejoy80
A 'touch trade' opportunity for some people I think
I've got that level marked on the charts too, but no way would I trade a touch trade based on a 'messy' level like that.

Needs to be perfect in my opinion. Clear precise rejections at that level.
The top and bottom of the current sideways market on the Euro, is a better example.
Bundy's status today: "Waiting..."
  • #58,619
  • Mar 18, 2010 12:25pm Mar 18, 2010 12:25pm
Quoting jarroo
Yeah I see. It lines up with that 1st trouble area as well.
I know you don't trade H1 (much), but that EJ retracement to the TL ended just below xx00, forming a nice PB for short, which played out well.
Attached Image
One Chart is Worth Ten Thousand Words.
  • #58,620
  • Mar 18, 2010 12:28pm Mar 18, 2010 12:28pm
Quoting Lyra
Sir may I know where are your initial stoploss in this three charts? Thank you.
usd/jpy 89.60 below the huge bearish bar(I enter after the close of the bar+other reasons)
eurjpy 121.37 below 61.8 fib
gbpjpy 133.50
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