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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

  • #64,161
  • May 18, 2010 6:29pm May 18, 2010 6:29pm
Quoting Atc
I guess so Dan.

I do like the gold move, but it doesn't meet my criteria-rules.

That EUR/ChF wall looks interesting....I'ld like to rip those 1.4 stops out with my lots!
lol.... I'm liking what I'm seeing, A LOT. Hopefully the trend does continue tommorow
Many choose unhappiness over uncertainty.
  • #64,162
  • May 18, 2010 6:30pm May 18, 2010 6:30pm
Quoting Dan Gilbert
natural gas is the absolute best, gold (tied for absolute best), EURJPY, NZDJPY

ALL TREND CONTINUATION BARS, MY ABSOLUTE FAVORITE KIND
The Gold trade looks pretty good. I would take it, but I am not ready to risk $25 for 1 unit on a trade through Oanda. I am not to that point in my career yet, I am still trading $1 max on my Forex trades.

EURJPY is a nice continuation BEOB but we are hitting so VERY low prices (historically). Will the Yen keep getting stronger or will this pitter out and just go flat for a while. If it was not SOOOO low, I would be interested.

NZDJPY looks like 63 is a pretty strong PPZ, so I am staying out after the sharp move down.

EURCHF (not mentioned by you Dan) looks like it could explode if it does break the wall at 1.4, but with the Swiss bank intervention in the past, I wonder if it isn't the Swiss bank itself holding this pair above 1.4.

I don't see anything to trade. I am so pissed off at myself. It was obvious the Euro was going to crash, shit, every twit on TV was reporting and we all know that socialist Europe has lived on credit far too long. And I didn't make a GD penny off of it.
  • #64,163
  • May 18, 2010 6:31pm May 18, 2010 6:31pm
Hi Everyone. Just thought Id say hello. Ive been lurking in the background for some time, but now feel ready to start asking questions re. techniques shown here on price action etc. I have opened a Demo 5k acct, and had some "luck" so far on the 3 trades using the techniques shown on this forum. Thanks.
  • #64,164
  • May 18, 2010 6:34pm May 18, 2010 6:34pm
Quoting mbqb11
and to add what I said.

http://www.forexfactory.com/showpost...ostcount=64020

All these bars did as much as we can expect trading into their areas.

I marked all the charts for you.

Gbp/usd never broke the high = not a valid bar + trading right into 1.4500 your buy stop should go above this area. If it did break the high on your broke no bar was able close above that round number.

usd/jpy - not a pinbar as the nose was not lower and clearly lower then the previous bar , this should be an easy pass.

eur/usd = very...
Awesome post Mike. I can see this post being referenced often.

Great job as always.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #64,165
  • May 18, 2010 6:35pm May 18, 2010 6:35pm
nat gas.

EJ.
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Many choose unhappiness over uncertainty.
  • #64,166
  • May 18, 2010 6:38pm May 18, 2010 6:38pm
Quoting egkid
Hi bro
Here it's so Facts - Copy Part
“The International Energy Agency Last Wednesday lowered its 2010 world oil...
Add to that my chart for Oil and closing under TL Last week
http://www.forexfactory.com/showpost...1&postcount=28
  • #64,167
  • May 18, 2010 7:07pm May 18, 2010 7:07pm
Quoting extraneo
here is gbpcad daily
thanx man, if u ignore the sunday bar (the small second to last) the same chart, but cleaner lol
i thought it would give ,more...???having said that,..its a pair i understand little.

cheers

jon
PATIENCE... DISCIPLINE
  • #64,168
  • May 18, 2010 7:19pm May 18, 2010 7:19pm
Quoting Sjr
Hi Everyone. Just thought Id say hello. Ive been lurking in the background for some time, but now feel ready to start asking questions re. techniques shown here on price action etc. I have opened a Demo 5k acct, and had some "luck" so far on the 3 trades using the techniques shown on this forum. Thanks.
Welcome Sjr.

Care to share one or all of those trades? There may have been no luck at all involved.
Indicators show the past. Price Action "Indicates" the future.
  • #64,169
  • May 18, 2010 7:20pm May 18, 2010 7:20pm
Quoting mbqb11
I made a video that I have re-uploaded so I don't have to find the post.

http://drop.io/cfnoat3

This should clear up the chart below. And aside for the space issue one major thing I never do is trade into a PPZ, which 12.5 is clearly so we want to trade away from these areas to have the wind at our backs(so without knowing anything else I would never trade into the 12.5 that is our first trouble area traffic aside). I marked a pinbar that has space, vs the one you took.

Let me know if that helps
Mike
Mike , that vid is the biss.!! i agree with jaroo.
I love how you ignored everything but PA and PPZ.
the funny thing is, the first thing that i noticed is your will to help us out! space and traffic i watched the second time.

u must live pretty well im guessing,?? not many guys around willing to put the effort in like yourself and the rest(you know who you are)i hope.)

CHEERS

jon
PATIENCE... DISCIPLINE
  • #64,170
  • May 18, 2010 7:27pm May 18, 2010 7:27pm
Quoting jeurre
how did you know it so precisely, man ! I am speachless now
get used to it...



jon
PATIENCE... DISCIPLINE
  • #64,171
  • May 18, 2010 7:51pm May 18, 2010 7:51pm
Quoting mbqb11
and to add what I said.

http://www.forexfactory.com/showpost...ostcount=64020

All these bars did as much as we can expect trading into their areas.

I marked all the charts for you.

Gbp/usd never broke the high = not a valid bar + trading right into 1.4500 your buy stop should go above this area....
Great post as always Mike. I always get to learn something new from your posts. This time, I learned that a good close tells as much story as a long nose. I did long the GBP/JPY for a short-term gain, but I got stopped out in a flash for a 30 pip loss. Initially my SL was full bar of the PB but I just felt insecure of the heavy traffic I'm trading into, yet I still made that trade but adjusted the SL much tigher. Yeah, how stupid of me, taking a trade for the sake of trading. Sometimes it's just that A+ setups are so rare, James himself admitted that he takes only 2 or 3 trades a month. It takes a huge deal of patience to achieve that. My patience always fails me, sigh!
  • #64,172
  • May 18, 2010 8:22pm May 18, 2010 8:22pm
Quoting jarroo
Welcome Sjr.

Care to share one or all of those trades? There may have been no luck at all involved.

Sure just as soon as I learn how to post a chart. BTW, I'm using gecko track and trade Forex, only because my research took me there. It appears everyone else is using other platforms. Not sure if its a good thing or not ...yet.
  • #64,173
  • May 18, 2010 8:48pm May 18, 2010 8:48pm
Hello Sjr,
try & practice here.
if what u are using is a non-MT4 based platform, read the respective manual/s.
many here use an MT4-based platform/broker, like FXPro (u can try a free demo account)

again, Welcome to the thread!
  • #64,174
  • May 18, 2010 9:41pm May 18, 2010 9:41pm
Quoting Dan Gilbert
yes, but I understand the Japanese actually SAVE their money. A concept the USA is unaware of.
Lived in Spain for a while, talk about living beyond your means.
  • #64,175
  • May 18, 2010 9:46pm May 18, 2010 9:46pm
Quoting mbqb11
and to add what I said.

http://www.forexfactory.com/showpost...ostcount=64020

All these bars did as much as we can expect trading into their areas.

I marked all the charts for you.

Gbp/usd never broke the high = not a valid bar + trading right into 1.4500 your buy stop should go above this area. If it did break the high on your broke no bar was able close above that round number.

usd/jpy - not a pinbar as the nose was not lower and clearly lower then the previous bar , this should be an easy pass.

eur/usd = very...
Had all these on my watch list too. Each had something that I felt could be a problem, so I passed on all.
  • #64,176
  • May 18, 2010 10:16pm May 18, 2010 10:16pm
Quoting jarroo
Do not look at the current weekly bar for any confirmation or indication of any PA formation. The current weekly bar is still forming. You can look at the weekly bars that have closed, which the last two weeks were some big Bullish bars.

I agree with you Pb, that the 1.1300 is a strong Weekly and Daily PPZ level....


Nice explanation Jarroo, I think I see the basics of your analysis.

On a more basic level, I can see that the open or left eye of that D PB is way outside the close of the previous bar by 15 pips or so and also that there was a lot of traffic from Jan of 2009, March & May and the break of the PB stopped right around that level.

I have to really take your KISS advice and stop my perhaps over analysis, possibly it is putting me on the verge of A-Paralysis.

Yes, I am feeling that I am sort of falling into that trap and really need to ground myself.

I wonder if many other people have experienced this and if they have any remedies or something to get out of it?


Thanks Jarroo
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  • #64,177
  • May 18, 2010 10:55pm May 18, 2010 10:55pm
Quoting Sjr
Sure just as soon as I learn how to post a chart. BTW, I'm using gecko track and trade Forex, only because my research took me there. It appears everyone else is using other platforms. Not sure if its a good thing or not ...yet.
Thanks cool Sjr. I don't even know how many posts you have to have to posts charts.

Check out many Plats and see what you like. MT4 seems to be the favorite.

You can write out the trade ( pair, time frame, date) . . . if you like.
Indicators show the past. Price Action "Indicates" the future.
  • #64,178
  • Edited May 19, 2010 8:28am May 18, 2010 11:00pm | Edited May 19, 2010 8:28am
Quoting Pinbar
Nice explanation Jarroo, I think I see the basics of your analysis.

On a more basic level, I can see that the open or left eye of that D PB is way outside the close of the previous bar by 15 pips or so and also that there was a lot of traffic from Jan of 2009, March & May and the break of the PB stopped right around that level.

I have to really take your KISS advice and stop my perhaps over analysis, possibly it is putting me on the verge of A-Paralysis.

Yes, I am feeling that I am sort of falling into that trap and really need to ground myself....
Viewing a James16 and Mike video does the trick for me.

Have you veiwed many of James16 charts from the thread lately?
Indicators show the past. Price Action "Indicates" the future.
  • #64,179
  • May 18, 2010 11:12pm May 18, 2010 11:12pm
yes he is and a Texan to boot.




Quoting Dan Gilbert
Kissfan is a beast..... get used to it
  • #64,180
  • May 18, 2010 11:13pm May 18, 2010 11:13pm
Quoting james16
yes he is and a Texan to boot.


Jim-bo, what goin on, brother.
Indicators show the past. Price Action "Indicates" the future.
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