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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

  • #60,681
  • Apr 12, 2010 10:00am Apr 12, 2010 10:00am
Quoting Dan Gilbert
am I the only one who cheated on the GBPCHF pin and got in on the retrace???

This thing was just way too A+ for me to miss it. Probably the best pin bar I have seen since discovering J16
I'm in with my demo (entered on the retrace)

Closed 80% of my position...20% still in the game..
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,682
  • Apr 12, 2010 10:05am Apr 12, 2010 10:05am
Quoting Chris_B
I'm in with my demo (entered on the retrace)

Closed 80% of my position...20% still in the game..
care to explain why you closed such a huge portion so soon?
Many choose unhappiness over uncertainty.
  • #60,683
  • Apr 12, 2010 10:08am Apr 12, 2010 10:08am
Quoting Dan Gilbert
care to explain why you closed such a huge portion so soon?
I closed it at the first trouble area...this is a demo account with 100.000 euro...and, as James says, with this amount of money you become a different trader :-) and you tend to manage trades tightly...
Market is like a puzzle, YOU have to fit the pieces!!
  • #60,684
  • Apr 12, 2010 10:37am Apr 12, 2010 10:37am
Did I just hear on the radio that the obama administration is expected to intervene in the way airlines handle their business?


......... Is this what we have come to?
Many choose unhappiness over uncertainty.
  • #60,685
  • Apr 12, 2010 10:57am Apr 12, 2010 10:57am
Quoting mike w
I've looked into it a bit more...and you're brilliant man. You've really taken peak and trough and ran with it. I'm lovin it dude! I've been going through the pdf's and everything and it just clicks. Phenomenal material there.
It's really simple Mike.

1-Just find an entry with PA (or a Touch).

2-Mark the PPZ's in your way.

3- Wait for Peaks-Valleys or you can say consolidations and add in after the breakout.

4- No trade between a Peak-Valley. (Except your doing something else)
.
  • #60,686
  • Apr 12, 2010 11:01am Apr 12, 2010 11:01am
A possible touch trade.
.
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  • #60,687
  • Apr 12, 2010 11:29am Apr 12, 2010 11:29am
Quoting Dan Gilbert
Did I just hear on the radio that the obama administration is expected to intervene in the way airlines handle their business?


......... Is this what we have come to?
OOOOooo.... Time to check out some intraday Airline charts. lol
Bundy's status today: "Waiting..."
  • #60,688
  • Apr 12, 2010 11:43am Apr 12, 2010 11:43am
Quoting Dan Gilbert
Did I just hear on the radio that the obama administration is expected to intervene in the way airlines handle their business?


......... Is this what we have come to?

yes , sorry to say
  • #60,689
  • Apr 12, 2010 11:56am Apr 12, 2010 11:56am
Quoting gjworley1952
yes , sorry to say
well at least the gov't has done their research and clearly has found that socialism is the best system (this has been proven in history, of course)... otherwise they wouldn't be doing these things.


right?
Many choose unhappiness over uncertainty.
  • #60,690
  • Edited 12:32pm Apr 12, 2010 12:17pm | Edited 12:32pm
what do you think about AUD/USD and GBP/USD today ?

AUD/USD
nice bearish engulfing(BEOB) + rsi divergence + ppz +slow stoch OB zone
1st target = bottom of channel / probably 9170

GBP/USD
and bearish counter attack + 50 fib + ppz +slow stoch OB zone
1st target = 5150

sure we need to wait for the close but i wanted to ask in advance

thx for reviewing
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Never whishing, always trading.
  • #60,691
  • Apr 12, 2010 12:45pm Apr 12, 2010 12:45pm
I just caught up on all the posts over the weekend, and wanted to throw out some advice for any newer traders who are wise enough to listen to it. There is a ton of information in this thread, and it can be overwhelming. Even just getting all the abbreviations can take some time.

If you want to understand this material as quickly as possible, take things one step at a time. It seems counter intuitive, but I can tell you from experience that if you will just learn the basics first, without getting distracted by more advanced strategies, then you will understand those strategies quicker than if you are trying to understand everything at once.

The reason I say this is I see new people (or people who haven't ever posted at least) asking about touch trading, IPBs, IBs, etc., when they obviously haven't mastered pinbars or outside bars.

The easiest thing to trade in this thread is pinbars. You can do great with just pinbars, and you aren't "missing out" on other opportunities by focusing on one thing at a time and mastering it.

If you have to ask how inverted pinbars and pinbars differ without just glancing at a chart of both, you aren't ready to trade ipbs successfully. This isn't a knock on anyone asking that, we all have to start somewhere, and all of this can be confusing, but my point is once you understand how to trade pinbars, adding outside bars, inside bars, ipbs, becomes much easier, because you already understand confluence and what a great area looks like.

More importantly, building your own patience and self-discipline will help your trading more than any specific type of bar you learn about

Sincerely,

Cory
  • #60,692
  • Apr 12, 2010 1:17pm Apr 12, 2010 1:17pm
Quoting mike w
I've looked into it a bit more...and you're brilliant man. You've really taken peak and trough and ran with it. I'm lovin it dude! I've been going through the pdf's and everything and it just clicks. Phenomenal material there.
Mike what pdf's are you referring to here?

Leon
  • #60,693
  • Apr 12, 2010 1:27pm Apr 12, 2010 1:27pm
Quoting Cbh123
I just caught up on all the posts over the weekend, and wanted to throw out some advice for any newer traders who are wise enough to listen to it....
Thanks Cory.
I was waiting for someone to say this. I think it should be reminded once a month.
  • #60,694
  • Apr 12, 2010 1:42pm Apr 12, 2010 1:42pm
Quoting nasir.khan
Thanks Cory.
I was waiting for someone to say this. I think it should be reminded once a month.
Something's not right with the EURJPY man... It may explode in the next... well, in the future sometime.
  • #60,695
  • Apr 12, 2010 1:43pm Apr 12, 2010 1:43pm
Quoting ljr
Mike what pdf's are you referring to here?

Leon
check the PDF's in this thread especially one of Martin Pring (i think its attached somewhere near 2nd or 3rd post.)
http://www.forexfactory.com/showthread.php?p=3588194
I would've attached them here but sorry I am posting from my mobile.
  • #60,696
  • Edited 2:02pm Apr 12, 2010 1:51pm | Edited 2:02pm
Quoting neutro
Something's not right with the EURJPY man... It may explode in the next... well, in the future sometime.
Why do you say that? Personally I think the AJ is more likely to 'explode'...look @ at all those multiple lows...
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  • #60,697
  • Apr 12, 2010 1:54pm Apr 12, 2010 1:54pm
Quoting neutro
Something's not right with the EURJPY man... It may explode in the next... well, in the future sometime.
LoL its my 1st trade on my live account and its making me sick every time I look at it.
  • #60,698
  • Apr 12, 2010 1:59pm Apr 12, 2010 1:59pm
Quoting lovejoy80
Why do you say that? Personally I think the AJ is more likelt ot 'explode'...look @ at all those multiple lows...
On my feed maybe it will close as an DHLC on the daily...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,699
  • Apr 12, 2010 2:08pm Apr 12, 2010 2:08pm
Quoting nasir.khan
LoL its my 1st trade on my live account and its making me sick every time I look at it.
I hate the ones that just sit around doing nothing...they drive me mad sometimes lol. It's sitting on support right now...

Good luck with the live account...though I know you don't need it, if you can replicate your demo trades you'll be more than fine
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  • #60,700
  • Apr 12, 2010 2:12pm Apr 12, 2010 2:12pm
Quoting nasir.khan
LoL its my 1st trade on my live account and its making me sick every time I look at it.
Yeah, mine too (though I shouldn't), but I'm going 0.01 lots at a time, naked style with a mix of gap play. (maybe we shouldn't discuss this here)

And I'm saying that it will explode not necessarily up, but that it's squeezing so tight that it will break hard in any direction (though down will be highly appreciated by a lot of traders, myself included)
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