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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

  • #59,081
  • Mar 25, 2010 3:11am Mar 25, 2010 3:11am
Quoting mbqb11
Here ya go JCP

http://www.forexfactory.com/showpost...ostcount=15851

http://www.forexfactory.com/showpost...ostcount=33436


Best
Mike
Mike
Do you enter at the break of the 4th (smallest) bar? Or wait for the break of highs or lows of previous larger bars?

In fact with any IB in good location is it the break of the smaller inside bar?

I know some traders use the break of the larger preceeding bar so just wondered.

Thanks,
Cherry
  • #59,082
  • Mar 25, 2010 3:11am Mar 25, 2010 3:11am
Quoting lovejoy80
I think that is one of the most important points about J16 - location, location, location.

I remember when I first started reading this thread and started demoing trades, it was all about looking for PA, scanning the higher time frame charts for outside bars and pin bars and getting excited whenever I found one. You then have the mindset that you WANT to find reasons to take the trade i.e. you want to find enough supporting confluences in order to convince yourself that it is a valid trade...it is also harder in that the higher timeframes require...
Great post lovejoy80.

Excellent advice. We all seem to start out the same way, don't we. I've been there.
Indicators show the past. Price Action "Indicates" the future.
  • #59,083
  • Mar 25, 2010 3:16am Mar 25, 2010 3:16am
Quoting arctos

Thanks for the kind words jarroo. I guess I can consider myself a newbie no more when I get the consistent 3 months in a row. For now I'm sitting on my hands so much that it feels like it's going numb.
I know the feeling. You have to move your fingers around a bit to get the blood circulating back in them. lol

Indicators show the past. Price Action "Indicates" the future.
  • #59,084
  • Mar 25, 2010 3:26am Mar 25, 2010 3:26am
Quoting jarroo
Great post lovejoy80.

Excellent advice. We all seem to start out the same way, don't we. I've been there.
I second Jaroo's compliment.
And Jaroo, I know that you are a proponent of identifying PPZ at higher time frames and then looking for PA when price reaches those levels.
Your charts almost always shows a sequence of different time frames with the same labels or boxes or arrrows on each of the charts.
  • #59,085
  • Mar 25, 2010 3:26am Mar 25, 2010 3:26am
Hello guys... just wanted to introduce myself. I am newbie and this system took my attention. Before starting to ask million questions i will go a bit backward and read the other pages.. but i believe soon enough will bother some of u

anyway... wish u all good trade. Probably (but who knows how far stupidity can boost me) having a more careful look @ this thread would have dissuaded me from the short that i took yesterday on usdjpy @ 91.47

Well anyway... have green pips everybody
I don't want a job, i want money!
  • #59,086
  • Mar 25, 2010 3:31am Mar 25, 2010 3:31am
Quoting The Captain
Hey Benji, just curious what broker you use to trade equities and what charting package that is?.. I haven't found a good charting package like that for equities.
Hey Caption,

That is FXPro, MT4 platform.
There are 134 different things to trade there.
Just be sure to right click market watch and show all (thanks mike).

Ben
  • #59,087
  • Mar 25, 2010 3:37am Mar 25, 2010 3:37am
dario1002,
Greetings!
i think i've seen your name down in the thread viewer's list for some time now.

Just read on & pop some questions for people to answer here.
btw, lovejoy80's post earlier was a good read, check it out too.
Good luck!
  • #59,088
  • Mar 25, 2010 3:41am Mar 25, 2010 3:41am
Quoting ertorque
I second Jaroo's compliment.
And Jaroo, I know that you are a proponent of identifying PPZ at higher time frames and then looking for PA when price reaches those levels.
Your charts almost always shows a sequence of different time frames with the same labels or boxes or arrrows on each of the charts.
Thanks ertorque.

When I do venture down to the lower time frames I try to always be aware of what the highertime frames are telling me.
Indicators show the past. Price Action "Indicates" the future.
  • #59,089
  • Mar 25, 2010 4:11am Mar 25, 2010 4:11am
So... by the way... the first question is... starting to apply to a new method (as i am about to do), should i "delete" the past things?? ... i.e. that short of mine on usdjpy is still on... 50 pips under water now (it was much worst before) .... so i am kind of still mentally biased on that one.

so, clean that one, and start a new "page" of trading?
I don't want a job, i want money!
  • #59,090
  • Mar 25, 2010 4:16am Mar 25, 2010 4:16am
dario1002,
the answer is:
it depends on YOU: how far u have traveled in this journey & how helpful/beneficial your 'current page' is helping u.

u can start a completely NEW page or
u can add another page (the james16 method) into your 'book'.

Good luck!
  • #59,091
  • Mar 25, 2010 4:19am Mar 25, 2010 4:19am
Quoting dario1002
So... by the way... the first question is... starting to apply to a new method (as i am about to do), should i "delete" the past things?? ... i.e. that short of mine on usdjpy is still on... 50 pips under water now (it was much worst before) .... so i am kind of still mentally biased on that one.

so, clean that one, and start a new "page" of trading?
Hallo Dario welcome to the group.......I'm italian too.Best place to learn....happy trading.
Patience is essential
  • #59,092
  • Mar 25, 2010 4:26am Mar 25, 2010 4:26am
Quoting benem
Hallo Dario welcome to the group.......I'm italian too.Best place to learn....happy trading.

Hi benem... nice to see somebody else from italy over here, maybe u will be able to give some more explanation in italian when and if i don't understand something

anyway... time to go to page 1 again!
I don't want a job, i want money!
  • #59,093
  • Mar 25, 2010 5:33am Mar 25, 2010 5:33am
hi james, i saw all of the setups that u posted in realtime, i took all of them exept the usdchf and the usdjpy.
the usdchf I didnt take b/c the pin look 2small and he didnt penetrate the 1.05 level so i didnt like it...
and the usdjpy - look chart:
-i see sideway market
-first trouble area is too close to the entery point
-is this realy a swing low?
-no BRN
-no div
am i worng with my analysis?
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Wellcome to the good life!
  • #59,094
  • Mar 25, 2010 5:35am Mar 25, 2010 5:35am
Watching Cable and Fibre like a Hawk.

(...Hawks get distracted by forums too , don't they? )

(Super confluence on Cable. Chart later...)
Bundy's status today: "Waiting..."
  • #59,095
  • Mar 25, 2010 5:57am Mar 25, 2010 5:57am
Quoting yarin
hi james, i saw all of the setups that u posted in realtime, i took all of them exept the usdchf and the usdjpy.
the usdchf I didnt take b/c the pin look 2small and he didnt penetrate the 1.05 level so i didnt like it...
and the usdjpy - look chart:
-i see sideway market
-first trouble area is too close to the entery point
-is this realy a swing low?
-no BRN
-no div
am i worng with my analysis?
While you wait for James, I'll share what was my own my analysis at the time... it might be total rubbish so feel free to ignore.

Something to add...price was ranging between 88 and 92.20 on daily chart for a while...just because price is ranging doesn't mean we cant take trades...price ranges more than it trends so you just use the same principles at the major PPZ areas within the range.
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  • #59,096
  • Mar 25, 2010 6:12am Mar 25, 2010 6:12am
Breakout occuring and breakout about to occur...maybe
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  • #59,097
  • Mar 25, 2010 6:16am Mar 25, 2010 6:16am
Quoting bundyraider
Watching Cable and Fibre like a Hawk.

(...Hawks get distracted by forums too , don't they? )

(Super confluence on Cable. Chart later...)
Interesting brother. Deja vu all over again.
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Indicators show the past. Price Action "Indicates" the future.
  • #59,098
  • Mar 25, 2010 6:23am Mar 25, 2010 6:23am
I'm supposed to trade tonight it seems...

Can only get Forex Factory on my browser but no other sites. Can't collect email....

But my broker connections all work. LOL

If I wasn't watching Cable so closely I'd restart the PC. lol

Great time to be rebuilding my backup PC. Not.
Bundy's status today: "Waiting..."
  • #59,099
  • Mar 25, 2010 6:32am Mar 25, 2010 6:32am
Quoting yarin
hi james, i saw all of the setups...
and the usdjpy - look chart:
-i see sideway market
-first trouble area is too close to the entry point
-is this realy a swing low?
-no BRN
-no div..
u have mentioned good factors we consider for a trade.
but dont forget trading is discretionary & there is no 'one size fits all'.

-sideways market is tradable. Sir james16 mentioned that several times. if u avoided this setup because of price being ranging, & u are inexperienced to trade consolidations, then it was a good decision.
-no BRN on the setup? yes. but round numbers (not the BRNs) are tradable too. also, 90.00 was breached along the way in this trade
-no div? yes, no div. but div is not A requirement for EVERY trade. we use div as confluence or additional confirmation.
-no swing low? yes, none. (if u want to) u can consider this as a double top or a higher swing low . again, this is trading a sideways, messy market.

hope this helps
  • #59,100
  • Mar 25, 2010 6:32am Mar 25, 2010 6:32am
Another area to be watching...
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