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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

  • #59,181
  • Mar 26, 2010 3:08am Mar 26, 2010 3:08am
Thank-you trigger!

Quoting triger88990
Is very difficult to have a right answer here.

But in this circumstance on this trade, I would play the pure break of the setup(rememeber + buffer) and expecting for a hard break that will push price hard through that PPZ,if I would not see any conviction on price to go through the PPZ you must be prepare to KILL it.

It was an alternative that I give, to place your order below that PPZ.There are many ways you could play any given setup. You must find your one way,what is accordingly with your personality.

hope it helps!!
  • #59,182
  • Mar 26, 2010 3:29am Mar 26, 2010 3:29am
Quoting mbqb11
Hey Thierry another new face too welcome

I would not personally use divergence from the daily to find trades on the 4hr, but that could be a personal thing. With that said though, the move down has been REALLY strong and that bar is really small. So we don't want to try to pick the bottom with these small pins, we will get a slap in the rear many many times. Look for the bar that stands out vs the strong down moves and that is the bar that will be a high probability bar(through in some confluence and you will be just fine )

Best
Mike
Thanks Mike,

Trade went into a loss, but i know now what was wrong (downtrend is so strong @ the moment). Must stick to daily chart.
I understand that i have to learn a lot, but this method is the best i've ever seen and will learn the next few months more about price action, SR etc. by reading all posts from you and james and other seniors and review the video's. Hope to make a living from this over a few years

Best,
Thierry
  • #59,183
  • Mar 26, 2010 3:51am Mar 26, 2010 3:51am
Quoting triger88990
where is everyone else,it is strange that only few people are online

usually this thread is more active that you barely can keep it up with it


Attachment
was on the road, now here trig to add 1 to that no.....lol

update on gbpchf trade, i dont see anything till 1.55 but need price to close convincinly below 1.585 first, Mike must have closed already
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Simplicity is the key to success
  • #59,184
  • Mar 26, 2010 4:00am Mar 26, 2010 4:00am
Quoting triger88990
where is everyone else,it is strange that only few people are online...
Hey bro,
It's Friday.
early weekend for most of us.
  • #59,185
  • Mar 26, 2010 4:02am Mar 26, 2010 4:02am
Quoting squeezy
was on the road, now here trig to add 1 to that no.....lol

update on gbpchf trade, i dont see anything till 1.55 but need price to close convincinly below 1.585 first, Mike must have closed already
nicely done buddy

you could catch here a nice runner if ,as you say it, price will close with conviction below 1.585

on the weekly and monthly chart there is a lot of SPACE

all the best!!
  • #59,186
  • Mar 26, 2010 4:06am Mar 26, 2010 4:06am
Quoting supremeChaos
Hey bro,
It's Friday.
early weekend for most of us.
so you took all the profits and leave the market alone like the majority of people who don't like to exposure their money during the weekends

smart thing to do,isn't it

wish you the best!!
  • #59,187
  • Mar 26, 2010 4:23am Mar 26, 2010 4:23am
Quoting squeezy
was on the road, now here trig to add 1 to that no.....lol

update on gbpchf trade, i dont see anything till 1.55 but need price to close convincinly below 1.585 first, Mike must have closed already
It will need to break out of this (flag?) pattern first IMO
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  • #59,188
  • Mar 26, 2010 4:28am Mar 26, 2010 4:28am
Quoting triger88990
update on AUSSIE

.............................
From where we stand at this point I'm expecting it to revers or if not the next level 0.9135 , If I see that is taken out I will be clearly out of this trade.

all the best!

Attachment
It seems that it was a huge sell off from that point,

money flowed into the market that's the only confirmation you would need to know that this move is sustained by real pro selling,and that there are new fresh sellers into the market.

Now we must wait and see if this sellers have the power to go through that PPZ, if they can smash the wall, we can be pretty sure it is a valid move and we are right in our assumption over the market.

PS: I'll update it after the next important event

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  • #59,189
  • Mar 26, 2010 4:33am Mar 26, 2010 4:33am
Where she stops nobody knows????
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  • #59,190
  • Mar 26, 2010 4:35am Mar 26, 2010 4:35am
It's interesting to see how the USDJPY is working its way up, from wedge to wedge.
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  • #59,191
  • Edited 4:39am Mar 26, 2010 4:38am | Edited 4:39am
ciao everybody
I am newbie and learning this method
any comment on my question much appreciated

would you please confirm that during any retracement of an up or down trend, I can use Fib levels to find confluence together with PPZ or BRN etc, and wait for some PA confirmation in that area either both for a short or long trade no matter what direction is the retracement?
always taking into consideration that going CT is lets say statistically more difficult rather then going in the same trend direction

many thanks for your help

Andrea
  • #59,192
  • Mar 26, 2010 4:40am Mar 26, 2010 4:40am
Quoting printer69
ciao everybody
I am newbie and learning this method
any comment on my question much appreciated

would you please confirm that during any retracement of an up or down trend, I can use Fib levels to find confluence together with PPZ or BRN etc, and wait for some PA confirmation in that area either both for a short or long trade no matter what direction is the retracement?
always taking into consideration that going CT is lets say statistically more difficult rather then going in the same trend direction

many thanks for your...
I'll let someone else commonet on your real question...but my immediate comment is ahhhh my eyes, don't use that horrible yellow colour lol!
  • #59,193
  • Mar 26, 2010 4:57am Mar 26, 2010 4:57am
Quoting printer69
ciao everybody
I am newbie and learning this method
any comment on my question much appreciated

would you please confirm that during any retracement of an up or down trend, I can use Fib levels to find confluence together with PPZ or BRN etc, and wait for some PA confirmation in that area either both for a short or long trade no matter what direction is the retracement?
always taking into consideration that going CT is lets say statistically more difficult rather then going in the same trend direction

many thanks for your...
the main purpose we use it is for taken trades with the previous trend. Thats what fib were developed for.Stocks or any other instrument will often pull back or retrace a percentage of the previous move before reversing

Once the stock or any other instruments begins to pull back (retrace), then you can plot these retracement levels on a chart to look for signs of a reversal.

Being said that I only take trade in the direction of the retracement
hope I was clear enough

I will use also a chart to be sure you understand it better

USDCHF

-fib tool drawn from recent swing high/low point
-PPZ
-BRN 1.5
-a small PA red arrow

all this variables aligned perfectly in one spot

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  • #59,194
  • Mar 26, 2010 4:58am Mar 26, 2010 4:58am
Quoting printer69
ciao everybody
I am newbie and learning this method
any comment on my question much appreciated

would you please confirm that during any retracement of an up or down trend, I can use Fib levels to find confluence together with PPZ or BRN etc, and wait for some PA confirmation in that area either both for a short or long trade no matter what direction is the retracement?
always taking into consideration that going CT is lets say statistically more difficult rather then going in the same trend direction

many thanks for your...
The whole problem with this approach to trading is unless you have a 100k or more its never going to get you to the stage that Jim etc talk about. From what I can see even the best J16 traders get a few % a month.

If you are starting with a smaller account expect to be slugging it out for 10-20 years.

I think the conservative nature of this thread is stifling there are traders out there making crazy money using this stuff.
You need to search for them though. Don't go down the happy with 3% a month path, unless you have a massive account like Jim.


Chatzi
  • #59,195
  • Mar 26, 2010 4:59am Mar 26, 2010 4:59am
Quoting triger88990
Some thoughts about fiber.

Althought there are many people who expect eur to recovery despite Greek financial crisis, many investors where cought in this fade breakout(see chart) trying to push their luck by overcome a positive outcome for euro zone.


The overall sentiment is bearish if you have a an open mind and reasonably clear sight to loock at chart. I'm in opinion that Greece will bailout but is just not the time yet,it's a metter of how and when, till then I can't see a base where this sell of can end.


This drop that we are dealing...
Very good analysis Triger, also very clear that newbie like me has no problem understanding. Thank you so much!
Dreams are hard to follow, but don't let anyone, tear them away...
  • #59,196
  • Mar 26, 2010 5:07am Mar 26, 2010 5:07am
Quoting triger88990
the main purpose we use it is for taken trades with the previous trend. Thats what fib were developed for.Stocks or any other instrument will often pull back or retrace a percentage of the previous move before reversing

Once the stock or any other instruments begins to pull back (retrace), then you can plot these retracement levels on a chart to look for signs of a reversal.

Being said that I only take trade in the direction of the retracement
hope I was clear enough

I will use also a chart to be sure you understand it better

USDCHF

-fib...
Man, I hate this USDCHF trade... People talk about it every day. I was there, I saw it and I said pass, for not (even) touching the 1.05... And that little daily pin turned into a little weekly pin...

Like I said before: on to the next one.
  • #59,197
  • Mar 26, 2010 5:08am Mar 26, 2010 5:08am
Quoting lovejoy80
I'll let someone else commonet on your real question...but my immediate comment is ahhhh my eyes, don't use that horrible yellow colour lol!
yeah you are right as soon as I realized what yellow was I changed it...
apologize and thanks
Andrea
  • #59,198
  • Mar 26, 2010 5:11am Mar 26, 2010 5:11am
Hei guy's think this time get it how pin bars looks like... One on Aussie and another one on Looney weekly TF(inverted corellation).....
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  • #59,199
  • Mar 26, 2010 5:19am Mar 26, 2010 5:19am
Hi everybody,

I would like to post this one.

I understand there is not of space above but it could make up to 100 pips.
The support level 1.585 has been rejected several times.
Any thoughts ?

Thanks
Ogeid
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  • #59,200
  • Mar 26, 2010 5:19am Mar 26, 2010 5:19am
Quoting triger88990
the main purpose we use it is for taken trades with the previous trend. Thats what fib were developed for.Stocks or any other instrument will often pull back or retrace a percentage of the previous move before reversing

Once the stock or any other instruments begins to pull back (retrace), then you can plot these retracement levels on a chart to look for signs of a reversal.

Being said that I only take trade in the direction of the retracement
hope I was clear enough

I will use also a chart to be sure you understand it better

USDCHF...

ciao Triger88990

many thanks your reply extremely laud&clear
all very clear to me now
your post one for my learning book...!!!

really much appreciated
grazie
ciao Andrea
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