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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

  • #64,941
  • May 27, 2010 2:25am May 27, 2010 2:25am
Quoting Dan Gilbert
out at B/E... volatile markets are volatile!
I'm still in just barely. Got in at 130.62 Watchin' it creep back my way.

I haven't traded G/J in a while. Forgot what a roller coaster ride it can be. lol
  • #64,942
  • May 27, 2010 2:26am May 27, 2010 2:26am
Quoting XNAdam
I'm still in just barely. Got in at 130.62 Watchin' it creep back my way. :

I haven't traded G/J in a while. Forgot what a roller coaster ride it can be. :O lol
I set a super-tight management on the northbound break, I don't like to be long on it... southbound was much looser management.
Many choose unhappiness over uncertainty.
  • #64,943
  • May 27, 2010 2:36am May 27, 2010 2:36am
Quoting ertorque
lol, next time I'll asked you BEFORE I placed my pending order what your bias is. Price broke NORTH! in the opposite direction of your bias..............Guess you now have to up your i4b contrarion rate to 85% .

You guys are selling this at the bottom?
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  • #64,944
  • May 27, 2010 2:40am May 27, 2010 2:40am
Has there been any discussion on the slight bearish pin on daily USD/CHF? I skimmed back a few pages but didn't see much.

It's funny, I can watch all the vids that James and Mike put up and follow along and think "oh yeah, that's totally obvious, I see what you did there."

And then I go to look at charts by myself and I'm like "Umm.... wait what?"

  • #64,945
  • May 27, 2010 2:43am May 27, 2010 2:43am
Quoting Pinbar
You guys are selling this at the bottom?
I'm currently long, but it's not lookin' like it's going anywhere anytime relatively soon. It's hovering right over my breakeven order. lol
  • #64,946
  • May 27, 2010 2:43am May 27, 2010 2:43am
Quoting Pinbar
You guys are selling this at the bottom?
it is a lot easier than going against trend... especially as strong as the current one.
Many choose unhappiness over uncertainty.
  • #64,947
  • May 27, 2010 2:45am May 27, 2010 2:45am
Quote
It's funny, I can watch all the vids that James and Mike put up and follow along and think "oh yeah, that's totally obvious...
Hello XNAdam,
based on your post,
it seems u need to watch the videos several times more.... until it sinks in.
  • #64,948
  • May 27, 2010 2:47am May 27, 2010 2:47am
I am watching the EJ on H4 & H1, there is not much room but could run 60 pips or so if managed well.
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  • #64,949
  • May 27, 2010 2:49am May 27, 2010 2:49am
Quoting Dan Gilbert
it is a lot easier than going against trend... especially as strong as the current one.
most pairs seem to warrant retracements... & its probably time.
it's either starting a retracement or reversal.

in gbpjpy, for instance, i think if we dont get a sustained break above 131/132 then we may have a false upside breakout of the current range.

Let us see..
  • #64,950
  • May 27, 2010 2:54am May 27, 2010 2:54am
Quoting supremeChaos
Hello XNAdam,
based on your post,
it seems u need to watch the videos several times more.... until it sinks in.
Maybe I'll leave them playing on loop while I sleep, get it hammered into my subconscious.

and hi! nice to meet you.
  • #64,951
  • May 27, 2010 3:02am May 27, 2010 3:02am
This is a demo experimental trade and I am basing it off the H1 with confirmation of H4 and placing the SL based on the 365 EMA on M15.

Just an experiment too teach me a lesson.
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  • #64,952
  • May 27, 2010 3:03am May 27, 2010 3:03am
XNAdam,
if it works for u, go for it.
i review those videos too, from time to time..
helps to keep me in sync & sane.

Nice to see u posting more. Keep it up, Sir!
  • #64,953
  • May 27, 2010 3:10am May 27, 2010 3:10am
Quoting Pinbar
This is a demo experimental trade and I am basing it off the H1 with confirmation of H4 and placing the SL based on the 365 EMA on M15.....
sell stop, based on H1 PA (that potential BEOB)?
a SL based on M15's 365ema might be too tight (will possibly stop u out before price moves in your favor).
it would be better to place a stop loss, in this case, at an M30/H1/H4 swing high &/or EMA, or strictly at an H1 area (if H1 is the trade setup timeframe).

Good luck!!
  • #64,954
  • Edited 4:25am May 27, 2010 3:23am | Edited 4:25am
Quoting supremeChaos
sell stop, based on H1 PA (that potential BEOB)?
a SL based on M15's 365ema might be too tight (will possibly stop u out before price moves in your favor).
it would be better to place a stop loss, in this case, at an M30/H1/H4 swing high &/or EMA, or strictly at an H1 area (if H1 is the trade setup timeframe).

Good luck!!

Thanks for the advice.

Possibly, a wider SL will reduce the risk reward ratio to a point where it is not worth taking.

Yes, there is also a BEOB on H1 for further confirmation.

EDIT: Now I am seeing the 61.8 being tested and if I look at the H4 TF I can see that the entry I made was above the tip of the H4 PB.

I decided to move the SL to above the ranging area, not because of the 61.8 being tested but as a precaution.

Now, I can see that going to a lower TF and making an entry on that PA, may not be such a good idea.

That said, the trend line is right at the 61.8 fibo and the 111.10 but, the 50 fibo is now acting as support.


Still, we have yet to see but, it will serve as a good lesson, whichever way it goes.
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  • #64,955
  • May 27, 2010 4:34am May 27, 2010 4:34am
Quoting supremeChaos
most pairs seem to warrant retracements... & its probably time.
it's either starting a retracement or reversal.
I remember when I used to think like that
When you have to shoot, shoot. Dont talk.
  • #64,956
  • May 27, 2010 5:01am May 27, 2010 5:01am
joelcf,
hihihih...
just thinking out loud... plotting possible outcomes..
im much less married to my trades/opinions now..compared to a few years back.

anyway, we'll see how the market behaves
  • #64,957
  • May 27, 2010 5:04am May 27, 2010 5:04am
Quoting supremeChaos
joelcf,
hihihih...
just thinking out loud... plotting possible outcomes..
im much less married to my trades/opinions now..compared to a few years back.

anyway, we'll see how the market behaves
I'm just hassling ya

Despite what people say, I dont see anything wrong with taking a view.
When you have to shoot, shoot. Dont talk.
  • #64,958
  • May 27, 2010 5:10am May 27, 2010 5:10am
I know.
u always mess with our minds (that's your way of "saying hi")
somehow, i feel like u are already in 'Friday mode' lol
  • #64,959
  • May 27, 2010 6:50am May 27, 2010 6:50am
Quoting joshk
Would it benefit a complete newbie to sign up for the membership site?

I've been playing online poker professionally for seven years now and I'm growing tired of it and would like to start transitioning into a different way of making a living.

I've been going through babypips and reading various articles and lurking here for a few days. Would the site be too advanced?
The private site is not too advanced.
I recommend it even for a newbie.
The consideration is the cost.
If is saves you messing up on trades then join - you will save money.
If it accelerates the process of you becoming a successful trader then join.
If it saves you from giving up when you could have learnt to be a successful trader and transformed your life - there is no question to answer is there.

There is a lot of good stuff on this thread - it is working through and digging it out. It is easier and put together logically on the private site.
There is stuff I have not seen here.
You get the webinars - horrid times for those in Europe but they are recorded.

It depends on how you view the monthly cost of the website.
I weighed it up and felt it was worth biting the bullet and paying the cost.

The mega plus is, it is not a scam. You can spend the site fee, two, three, ten times over only to find it is a scam.
The information is mostly on this thread but I still recommend people who are serious about learning to be a long term trader join and learn the material.
That means reading it all and then reading it again and again.
Going over the charts back testing everything.
Demo testing the ideas again and again.
The methods do work - there are too many people around and this has operated for way too long to not have a valid basis.
  • #64,960
  • Edited 7:14am May 27, 2010 7:01am | Edited 7:14am
Quoting six gun
The private site is not too advanced.
I recommend it even for a newbie.
The consideration is the cost.
If is saves you messing up on trades then join - you will save money.
If it accelerates the process of you becoming a successful trader then join.
If it saves you from giving up when you could have learnt to be a successful trader and transformed your life - there is no question to answer is there.

There is a lot of good stuff on this thread - it is working through and digging it out. It is easier and put together logically on the private site.
There...


Maybe a complete newbie to trading would find it advantageous to complete the free course at babypips, get the basics under their belt, then join the J16 PF.

In the meantime I am watching this EJ play out.

Now on H1 we have a DBHLC & price still refuses to break the support area.

This will teach me not to take shorts at bottoms and ranging areas.

About the only thing going for this right now, is the lower high and less penetration of the trend line.
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