james16 Chart Thread | Page 3060 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #61,181
  • Apr 19, 2010 2:28am Apr 19, 2010 2:28am
ah, I read a couple of times your post, would say more clear now on what you tried to express. I put my understanding below in blue color for your comment. please correct me if I am wrong. thanks


Quote Begin
++++++++++++++++++++++++++++++++++++
You're looking to take advantage of one of two things...

One.... is momentum from that bar the moment it does it's thing. (wether you catch a retracement entry or whatever). The best set up bars are large and close right at the extreme , or not far from it. The buying/selling pressure is strong at THAT time. This time you missed it. Don't get beat up over it. You need to evaluate your strategy over many trades, not just one. [ retrace not necessarily take place each time, it depands on momentum, if missed one, then move on to the next. regarding the setup quality, you prefer to seeing a larger size, as well the close ideally beyond current level ]


Two.... is another independent setup off of the same level later on. Another pin or BEOB or whatever next week or something off of that 127.70 or so level again. This is where sellers came in, twice. [ chance still exists if price pullback into his short limit order level, exercise some patience to wait for unless price break another level, then a different story. ]

+++++++++++++++++++++++++++++++++
Quote End



Quoting bundyraider
Sure, no worries.

Which points exactly?

Later too, though. I gotta get out and get me some sun. lol
  • #61,182
  • Apr 19, 2010 2:28am Apr 19, 2010 2:28am
Quoting supremeChaos
hahah. Thank you Sir.
my point in that post is NO one can get crazy until i become one FIRST.
lol You have a good spirt, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #61,183
  • Apr 19, 2010 3:32am Apr 19, 2010 3:32am
Gooood morning guys!!

This is an Inside Bar trade....I placed the stop order on friday close...and this morning..surprise! Target easily hit!! Out at the first trouble area..
Fast +27 pips... my way to scalp the daily
Attached Image (click to enlarge)
Click to Enlarge Name: gc.gif Size: 10 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #61,184
  • Apr 19, 2010 3:48am Apr 19, 2010 3:48am
It is interesting how we all started to realise this.....take full profit at first trouble area.......as much as i started it recently.....i find myself more comfortable taking full profit at first trouble are a Mental/Psychology point of view..............

Quoting jarroo
Good point Dan. Nothing wrong with taking a full profit at the 1st target. It makes sense.
  • #61,185
  • Apr 19, 2010 3:52am Apr 19, 2010 3:52am
Quoting Danku
It is interesting how we all started to realise this.....take full profit at first trouble area.......as much as i started it recently.....i find myself more comfortable taking full profit at first trouble are a Mental/Psychology point of view..............
I agree too!!
My daily demo trades are fast and profitable taking full profit at the first trouble area, the hit rate is really high...and I tend to search for a better R:R searching for a good stop area on the 1H timeframe, basing my position sizing on that..
Market is like a puzzle, YOU have to fit the pieces!!
  • #61,186
  • Apr 19, 2010 4:47am Apr 19, 2010 4:47am
Hi esbatu,

Your post is relevant enough for me to reply. Cheers. If you re-read your post, you will realise that the factor of swing H/L is unnecessary.

Quote
1. it ensures that price has space to move.
2. it ensures that price has retrace high/low enough to rebound, especially if swing high/low is at 50/62 fibs.

For the first, you make decision based on "space". For the second, you make decision based on "Fibo. Retracement".

As said:

Quote
Of course if you take a number of factors into consideration and include swing high/low, the uselessness of the swing high/low consideration may not be that obvious, because of the present of the other factors considered.

At the moment of decision, what "Swing H/L" tells you? It keeps silent. If you make you decision right and the price goes up, you see the "Swing Low", and now it tells you " You see. I told you!". If you make your decision wrong and the price shows down, you would not see the "Swing Low", and now it tells you "I haven't asked you to enter, why did you do?". In both cases, the hindsight fortunate teller is right. You see my point?

Quoting esbatu
Hi KK007, reading your post about swing high/low, reminds me about similar questions that I posted sometimes ago. IMHO, i agree with you that swing high/low itself does not have predictive power. But it does have its use in my trading:
1. it ensures that price has space to move
2. it ensures that price has retrace high/low enough to rebound, especially if swing high/low is at 50/62 fibs.

Those two points above put the odds in our favor and as SC said "trading is about probabilities" and we want as many factors in our favor. Just my 2 cents as...
For those who believe in Swing H/L as a useful predictor, I have a strategy for you to make you a billionaire in no time. And that is:

"Buy at swing low and Sell at swing high."

That is, when you see the price is at swing low, don't hesitate and have no fear. Buy! When it go up to the swing high, don't be greedy, Sell!
.
  • #61,187
  • Apr 19, 2010 4:54am Apr 19, 2010 4:54am
I really don't understand what point you are trying to get across. Are you interested in price action trading as per James16 methodology?

Quoting kk007
Hi esbatu,

Your post is relevant enough for me to reply. Cheers. If you re-read your post, you will realise that the factor of swing H/L is unnecessary.



For the first, you make decision based on "space". For the second, you make decision based on "Fibo. Retracement".

As said:



At the moment of decision, what "Swing H/L" tells you? It keeps silent. If you make you decision right and the price goes up, you see the "Swing Low", and now it tells you " You see. I told you!". If you make your decision wrong and the price shows down,...
  • #61,188
  • Apr 19, 2010 5:25am Apr 19, 2010 5:25am
Although not all or most people responded to my posts understand what I have been talking about, I find some of them do understand. For those who understand what I have been talking about, I have replied in details. If you don't think what I have said have any significance, you may feel free to ignore my posts. No worry.

Quoting fxprocessor
I really don't understand what point you are trying to get across. Are you interested in price action trading as per James16 methodology?
  • #61,189
  • Apr 19, 2010 5:30am Apr 19, 2010 5:30am
Quoting Chris_B
Gooood morning guys!!

This is an Inside Bar trade....I placed the stop order on friday close...and this morning..surprise! Target easily hit!! Out at the first trouble area..
Fast +27 pips... my way to scalp the daily
And not that there's anything wrong with that.

Scalping higher tfs can be lucrative and powerful. The assumption here being that you know what you're doing.

nice trade Chris.

g.
I believe . . .
  • #61,190
  • Apr 19, 2010 5:32am Apr 19, 2010 5:32am
Quoting kk007
Although not all or most people responded to my posts understand what I have been talking about, I find some of them do understand. For those who understand what I have been talking about, I have replied in details. If you don't think what I have said have any significance, you may feel free to ignore my posts. No worry.
Point taken Kk, we can move on now...can we?

g.
I believe . . .
  • #61,191
  • Apr 19, 2010 5:33am Apr 19, 2010 5:33am
Quoting Trndsurfer
mate do you have some personal issue with you ego?
Kk is no stranger and has been with the group for some time. He probably thinks his ideas are being ditched here...

g.
I believe . . .
  • #61,192
  • Apr 19, 2010 5:40am Apr 19, 2010 5:40am
Quoting ghous
And not that there's anything wrong with that.

The assumption here being that you know what you're doing.

nice trade Chris.

g.
I think so.. because at the moment I'm having good results even with the worst setups..

Thanks Ghous!
Market is like a puzzle, YOU have to fit the pieces!!
  • #61,193
  • Apr 19, 2010 5:44am Apr 19, 2010 5:44am
Quoting Chris_B
I think so.. because at the moment I'm having good results even with the worst setups..

Thanks Ghous!
Don't let that difference between a "good BUOB" and "just a bullish outside bar" disappear though.

A brotherly advice.

g.
I believe . . .
  • #61,194
  • Apr 19, 2010 5:52am Apr 19, 2010 5:52am
Quoting ghous
Kk is no stranger and has been with the group for some time. He probably thinks his ideas are being ditched here...

g.
hi Ghous!

I think he was talking about my signature. No worry.

Move on or not? If no one make new relevant posts to the view I addressed, I will not make new post about that view again.

cheer,
kk
  • #61,195
  • Apr 19, 2010 6:06am Apr 19, 2010 6:06am
Quoting kk007
Hi Nasir,

What you are talking about is "last" swing H/L rather than the simple direct meaning of swing H/L.

In your case the logic problem does not exist. Nevertheless, I am not sure , among all responses, if you are the only one taking swing H/L as the "last" swing H/L.

K.K.
Well this is how i choose my swing points, simple and effective,

that's all.
.
  • #61,196
  • Apr 19, 2010 6:11am Apr 19, 2010 6:11am
Quoting kk007
If you take the fake chart for fun or just as a side issue, that is ok. If someone take it seriously, and treat it as if the main issue of my first post, it is very odd to me.

It doesn't contain full OHLC information, and they don't represent market dynamic, and it is so obvious that it is fake. No enough information to make a wise decision on the fake chart. I just took minimal time to sketch it for illustration.
http://cdn.forexfactory.com/attachme...1&d=1271598701
No this is not fun.

That's what i do all day long, all day strong.
.
  • #61,197
  • Apr 19, 2010 6:13am Apr 19, 2010 6:13am
Quoting Chris_B
Gooood morning guys!!

This is an Inside Bar trade....I placed the stop order on friday close...and this morning..surprise! Target easily hit!! Out at the first trouble area..
Fast +27 pips... my way to scalp the daily
Nice little cute trade haha.
.
  • #61,198
  • Apr 19, 2010 6:25am Apr 19, 2010 6:25am
Quoting jarroo
I like your targets, the Highs before the 1.0300, but getting through 1.0200 with be a good confirmation.

You got to love the textbook structure of this BUOB. One rule one thumb with Outside Bars (when they're acting right), is that they will retrace to their previous bar High on BUOB, (previous bar Low with BEOBs). Call it the left eye of OBs. (left eye reference to PBs). This previous bar High is the 1.0100. I wouldn't mind some bullish PA at this level, if it retraces before or after the break.
Jarroo

when you say you would like some retrace then bullish PA on this UC weekly BUOB, do you mean going down to the smaller TFs or waiting for some PA to develop on the weekly? If the weekly then presumably this could take some time to develop?
PA is where its at!!
  • #61,199
  • Apr 19, 2010 6:28am Apr 19, 2010 6:28am
Hm, another 007...

---

KK, many people here answered your questions as good as they could. Just go through those posts again, with your eyes and ears open (and your mouth shut - I am not being rude, this is a figure of speech ).

Your original example was re ambiguity of PB location, i.e. how do we know where the price will turn to make the swing point. The answers are: (a) we never know for sure (but that doesn't mean we cannot trade with that uncertainty being there) and (b) the location of a potential swing point (i.e. what looks like a swing point) is relative to what you see on the left side of your chart (you need to zoom out to see that well).

Search and read all posts on PPZ, detailed answers to your questions are there.
One Chart is Worth Ten Thousand Words.
  • #61,200
  • Apr 19, 2010 6:31am Apr 19, 2010 6:31am
Interesting! Some people here understand the specific idea in my first post and responded accordingly, while some don't understand and talk about J16 method in general. No offense.

cheers.

Quoting Forex007
Hm, another 007...

---

KK, many people here answered your questions as good as they could. Just go through those points again with your eyes and ears open (and your mouth shut - I am not being rude, this is a figure of speech ).

Your original example was re ambiguity of PB location, i.e. how do we know where the price will turn to make the swing point. The answers are: (a) we don't for sure (and that doesn't mean we cannot trade with that uncertainty being there) and (b) the location of the potential swing point (i.e. what looks like...
155 traders viewing now