Hey everyone,
You have my full, insanely jealous, attention.
Bundy's status today: "Waiting..." 
james16 Chart Thread
- #58,961
- Mar 24, 2010 5:12am Mar 24, 2010 5:12am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
You have my full, insanely jealous, attention.
- #58,965
- Mar 24, 2010 5:50am Mar 24, 2010 5:50am
Havent got a chart to hand...but EU broke multi-day lows this morning and retraced back to test the fromer support now resistance area and formed a 1HR BEOB from this leel and through the BRN below...a decent continuation bar IMO, however weekly support level not far below so order placed below this level.
anyways
Simplicity is the key to success
- #58,966
- Mar 24, 2010 6:04am Mar 24, 2010 6:04am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
"<-- My other job."
You have my full, insanely jealous, attention.
i pm'ed him about it as soon as i saw his post.
- #58,970
- Mar 24, 2010 9:06am Mar 24, 2010 9:06am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
- #58,972
- Mar 24, 2010 9:21am Mar 24, 2010 9:21am
weekly I4B straddling the 90.00 big round number on USDJPY taken on the live account for a 2% risk
- S/L moved to break-even after 30 pips into profit.
- first target hit at 91.81, 1/3 position closed.
- next target highlighted to close another 1/3 position.
EDIT: I also had sell stop orders placed below the weekly i4b - - we don't care which way it's going, but the consolidation will usually make a hard break in either direction, so I wanted to catch it regardless of what way it decided to breakout.
im waiting for 9070 area to join you if it pulls back accordingly
Simplicity is the key to success
- #58,973
- Mar 24, 2010 9:27am Mar 24, 2010 9:27am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #58,974
- Mar 24, 2010 9:27am Mar 24, 2010 9:27am
Hi all
My first post, new to the forum, been following J16 teachings here and I love the way it started back in 2005 as bar-formations and fib retracement teaching and now has evolved to concentrate on a better method, that is S/R and basic price action, mainly reversal bars/pins (seems fib retracement has taken a backseat to J16 price "flipzones" - which seems to be the right thing to do as fibs are a little bit "hope and pray" I feel). It's almost like everyone chipping in together over the years have managed to evolve the teachings of Jim into the best possible way to trade, so I want to say a massive thank you to everyone who took part and shared.
I hope an experienced J16 follower can help with this one:
Jim mentioned right near the start of the post that he "drops down" in timeframe to look for a good price action entry at an S/R area. Makes sense. I'm sure many of you do. But can anyone help elaborate/share experience on this? The thing is, if you spot an S/R area (price flip) on the daily and then go to intraday for the signal, what kind of timeframes would you look at? 1Hr? 1Min? Is there no set standard? Do you just casually flick through the frames?
Also, what else would you look for at this point? Let's say the daily is at strong support as shown by a J16 priceflip zone, you think IF the area holds it will go back to the next cluster of bar highs, as per J16 teaching. So you drill down to a smaller timeframe, say, 15min (???) to look at price action. You see a half-decent pinbar. What else would you look for? Does anyone use any indicators (I hate indicators, I try to stay away from them) for maybe divergence? Or any neat trick/rule of thumb to help confirm the entry is a highest probability as possible?
Any input would be thankfuly received
Thanks all
Trig
My first post, new to the forum, been following J16 teachings here and I love the way it started back in 2005 as bar-formations and fib retracement teaching and now has evolved to concentrate on a better method, that is S/R and basic price action, mainly reversal bars/pins (seems fib retracement has taken a backseat to J16 price "flipzones" - which seems to be the right thing to do as fibs are a little bit "hope and pray" I feel). It's almost like everyone chipping in together over the years have managed to evolve the teachings of Jim into the best possible way to trade, so I want to say a massive thank you to everyone who took part and shared.
I hope an experienced J16 follower can help with this one:
Jim mentioned right near the start of the post that he "drops down" in timeframe to look for a good price action entry at an S/R area. Makes sense. I'm sure many of you do. But can anyone help elaborate/share experience on this? The thing is, if you spot an S/R area (price flip) on the daily and then go to intraday for the signal, what kind of timeframes would you look at? 1Hr? 1Min? Is there no set standard? Do you just casually flick through the frames?
Also, what else would you look for at this point? Let's say the daily is at strong support as shown by a J16 priceflip zone, you think IF the area holds it will go back to the next cluster of bar highs, as per J16 teaching. So you drill down to a smaller timeframe, say, 15min (???) to look at price action. You see a half-decent pinbar. What else would you look for? Does anyone use any indicators (I hate indicators, I try to stay away from them) for maybe divergence? Or any neat trick/rule of thumb to help confirm the entry is a highest probability as possible?
Any input would be thankfuly received
Thanks all
Trig
- #58,975
- Mar 24, 2010 9:29am Mar 24, 2010 9:29am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
- #58,976
- Mar 24, 2010 9:36am Mar 24, 2010 9:36am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
didn't take this trade, too much traffic. Although the very small I4B was ALMOST irresistible
Many choose unhappiness over uncertainty.
- #58,977
- Mar 24, 2010 9:43am Mar 24, 2010 9:43am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
nice trade Dan
im waiting for 9070 area to join you if it pulls back accordingly
Many choose unhappiness over uncertainty.
- #58,978
- Mar 24, 2010 10:25am Mar 24, 2010 10:25am
- Joined Oct 2009 | Status: Thank You eohater | 790 Posts
Hey Cpt.
I am in agreement with the 5pm est. In my opinion it is sort of the unofficial official closing time. Considering NY is all done by now in the other markets. Again if you use a 6pm or even 7 I don't think your going to really lose much in the long run once you understand the material since the bars are only a smaller piece of the puzzle. I think anything past a few hours after NY is fishy as you get asia/Australia etc mixed in and those are the smaller periods of the trading day
Best
Mike
Hi Captain,
Allow me to jump in and ask, how do u view the EO methods? I also happened to have learned the EO methods, however, I didn't have much luck understanding/applying the methods....that was before I have read this James16 PA stuff.....I saw many people are having success with it, so how do you think about the EO's methods?
"<-- My other job."
You have my full, insanely jealous, attention.
Cap
