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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

  • #59,841
  • Apr 1, 2010 10:24pm Apr 1, 2010 10:24pm
i figured I'd let my j16 friends follow along with me here

best confluence in the history of time...

this is a rac style trade, first target @ 140.00


edit: initial S/L is 100 pips above entry
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Many choose unhappiness over uncertainty.
  • #59,842
  • Apr 1, 2010 10:47pm Apr 1, 2010 10:47pm
Quoting Dan Gilbert
ibfx looks like that...
Thanks for mentioning (i have my ibfx on the other PC)

Quoting Jcp
Hey Supreme, it's GFT Dealbook Web. The 4H chart also has a real nice PB. I'm unable to upload now, but will do a bit later.
Thanks Jcp!
  • #59,843
  • Apr 1, 2010 11:43pm Apr 1, 2010 11:43pm
Quoting supremeChaos
Thanks for mentioning (i have my ibfx on the other PC)


Thanks Jcp!
Here's the 4H PB I was referring to on GFT.
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  • #59,844
  • Apr 2, 2010 12:52am Apr 2, 2010 12:52am
Quoting mbqb11
yeah this would have been a deadly one. One of these days I am going to put some more time into this touch trading round number business
I'll be very glad to get some insights from you Mike.
.
  • #59,845
  • Apr 2, 2010 1:18am Apr 2, 2010 1:18am
Quoting Jcp
Here's the 4H PB I was referring to on GFT.

The reason you're seeing pins on chf pairs is because the SNB (Swiss national bank) has been intervening in the currency markets to devalue the franc. Most of their focus is on the eurchf, but it affects other chf pairs nonetheless.

So far their efforts have failed.
  • #59,846
  • Apr 2, 2010 1:25am Apr 2, 2010 1:25am
Quoting Dan Gilbert
i figured I'd let my j16 friends follow along with me here

best confluence in the history of time...

this is a rac style trade, first target @ 140.00


edit: initial S/L is 100 pips above entry
lol - be careful about any whipsaws from NFP...if numbers are good we could see a whipsaw up before a sell off
  • #59,847
  • Apr 2, 2010 1:32am Apr 2, 2010 1:32am
.
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  • #59,848
  • Apr 2, 2010 1:37am Apr 2, 2010 1:37am
Quoting nasir.khan
Spot on Jarroo.

I can't see the strong signs that could reverse this strong move. I did checked the market today by shorting AJ and UJ @ double top but got stopped out.

The beauty of a touch trade is that it should shake hands with your Confluence zone and then run as hard as it could.lol....
Can't Just help Buying this Trend. If it turns back i'll be stopped out and may miss a touch trade but

"why anticipate...?
What if it keeps going and going..?"
.
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  • #59,849
  • Apr 2, 2010 1:52am Apr 2, 2010 1:52am
Quoting nasir.khan
Can't Just help Buying this Trend. If it turns back i'll be stopped out and may miss a touch trade but

"why anticipate...?
What if it keeps going and going..?"
.
When you've loaded up as much profit as you have there...then it's definitely worth it and a no brainer. Do you use the same risk on each new position?
  • #59,850
  • Apr 2, 2010 1:56am Apr 2, 2010 1:56am
Quoting lovejoy80
When you've loaded up as much profit as you have there...then it's definitely worth it and a no brainer. Do you use the same risk on each new position?
Yep same risk every time.
.
  • #59,851
  • Apr 2, 2010 2:34am Apr 2, 2010 2:34am
Nice loading up there, Nasir. Very Livingston/Livermore.
It's not about how much you make, it's about how much you don't lose.
  • #59,852
  • Apr 2, 2010 4:09am Apr 2, 2010 4:09am
Quoting Dhb
Nice loading up there, Nasir. Very Livingston/Livermore.

Thanks Boy.

Now that would be very interesting to see if it hits the blue box near NFP.
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  • #59,853
  • Apr 2, 2010 4:59am Apr 2, 2010 4:59am
Quoting nasir.khan
Can't Just help Buying this Trend. If it turns back i'll be stopped out and may miss a touch trade but

"why anticipate...?
What if it keeps going and going..?"
.
So where do you see it going? I assume the latest long is in line with an expectation to see this run continue...

g.
I believe . . .
  • #59,854
  • Apr 2, 2010 5:16am Apr 2, 2010 5:16am
Quoting ghous
So where do you see it going? I assume the latest long is in line with an expectation to see this run continue...

g.
Well i will just keep on buying after every consolidation breakout and trailing my stops and i am aware that i'll have to give away some 100-200 pips when price will fall back cause of my trade management style.

On the other hand i will take some touch trades on areas posted here but will still hold my longs and wait to get stopped out.
Hope i made some sense to you.
  • #59,855
  • Apr 2, 2010 6:01am Apr 2, 2010 6:01am
Hi all,

Is anyone watching cable for a short down to 1.5000 in keeping with a reverse H&S on the daily chart?

http://www.ddfxtrading.com/wp-conten...d-1024x580.gif

Then a possible move up after that? I see last month's candle isn't a perfect pin bar but is it any kind of strong indication of an end to the downtrend?

http://www.ddfxtrading.com/wp-conten...4/gbpusd1m.gif

I'm still learning the J16 method and hoping for a PA candle from today showing a bearish move off the H&S neckline - or a break upwards? I know the NFP + Easter might not make for a very reliable candle from today but I'd love to hear any opinions of the more experienced J16 traders on what I'm doing wrong

Happy Easter all - off the the gym now!
Anything can happen.
  • #59,856
  • Apr 2, 2010 8:21am Apr 2, 2010 8:21am
Quoting nasir.khan
..

"why anticipate...?
What if it keeps going and going..?"
This Rac's post has definitely changed my way of trading It was a real revelation for me. I first thought that candle chart is best for trading and that the line chart simply dont show you enough information, but sometimes is this just what you need! I still look at the bar charts mostly but i always check the line charts before entering a trade because they really helps you.
So thanks again for posting this Rac

ppfx
  • #59,857
  • Apr 2, 2010 8:48am Apr 2, 2010 8:48am
Quoting ddinnov
Hi all,

Is anyone watching cable for a short down to 1.5000 in keeping with a reverse H&S on the daily chart?

http://www.ddfxtrading.com/wp-conten...d-1024x580.gif

Then a possible move up after that? I see last month's candle isn't a perfect pin bar but is it any kind of strong indication of an end to the downtrend?

http://www.ddfxtrading.com/wp-conten...4/gbpusd1m.gif

I'm still learning the J16 method and hoping for a PA candle from today showing a bearish move off the H&S neckline...
Hi!
Im watching it too. Im waiting the break of 1.5350 , after the break i will probably enter the trade, cause on the left is not much traffic so it should be a smooth ride to 1.5580 which is the first trouble area imo. If it breaks of course and if everything goes according to plans. There are lot of if so... will see

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Happy Easter to you too and to all others

ppfx
  • #59,858
  • Apr 2, 2010 9:03am Apr 2, 2010 9:03am
I dont take many weekly setups...but decided to take this setup on SGD/JPY on Monday. BUOB over PPZ and BRN, moved to BE @ FTA and about to take half profit and move other half to just under FTA.

Normally, when I see a setup like this I will scroll down the lower time frames and wait for some PA to confirm the move and thus can get in with less risk and more potential reward...but this is not a pair I look at intraday (I have a hard enough time focusing on the pairs I do without adding another one to the mix!) so happy to take the weekly setup.
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  • #59,859
  • Apr 2, 2010 12:11pm Apr 2, 2010 12:11pm
It's awfully quiet in here.

Happy Easter and a Happy New Year (if time flies like it did the last couple of months, I was thinking of wishing you in advance; in a few days we'll celebrate Christmas and what not..)
  • #59,860
  • Apr 2, 2010 12:12pm Apr 2, 2010 12:12pm
phewww I slept in extra late and was hoping you all did the same


Just wishing everyone a very nice long weekend!


Mike
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