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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

  • #65,001
  • May 27, 2010 11:37am May 27, 2010 11:37am
Quoting Dan Gilbert
crude looks like it's approaching an important zone.
You are expecting a bounce off the PPZ + 50 fib?
  • #65,002
  • May 27, 2010 11:41am May 27, 2010 11:41am
Quoting Daneel
You are expecting a bounce off the PPZ + 50 fib?
yes, need PA....
Many choose unhappiness over uncertainty.
  • #65,003
  • May 27, 2010 11:55am May 27, 2010 11:55am
Quoting Pinbar
Quick non trading question.

What does the "16" stand for in James 16?

Did Jim initially discover 16 candle patterns or something, or is my mind working overtime again?
maybe when he was creating his FF account he tried James, James1, James2, James3... in the username until he got James16 available
  • #65,004
  • Edited 12:00pm May 27, 2010 11:58am | Edited 12:00pm
anyone game on CounterTrending the recent sharp selling based on the bullish (almost) PB? Location I think is good as there is BRN and 61% FIB. Comments?

CY
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  • #65,005
  • May 27, 2010 12:58pm May 27, 2010 12:58pm
Quoting Dan Gilbert
(no shorting allowed for me )
why?
  • #65,006
  • May 27, 2010 1:08pm May 27, 2010 1:08pm
Quoting mbqb11
off for a long weekend to visit my brother. If I don't get to your pms/posts that is why

Enjoy your weekends!
Mike
good weekend Mike!
  • #65,007
  • May 27, 2010 1:08pm May 27, 2010 1:08pm
Quoting Dan Gilbert
crude looks like it's approaching an important zone.
Yep

and DOW too.

This could bring another rally today, in majors (many of them are at crucial levels).
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  • #65,008
  • May 27, 2010 1:22pm May 27, 2010 1:22pm
Gold would also be interesting to watch (maybe next week).

BRN+DIVG+Double Top+ TL

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  • #65,009
  • May 27, 2010 1:23pm May 27, 2010 1:23pm
Quoting ertorque
anyone game on CounterTrending the recent sharp selling based on the bullish (almost) PB? Location I think is good as there is BRN and 61% FIB. Comments?

CY
This is an interesting pb on the EUR/AUD.
It formed this afternoon when price went down through 1.45 and then rapidly reversed.
It was due to reverse from fibs plotted during the decent.
Plot a fib from the last swing high on the way down to 1.45 put a 38.2% around 1.462. Price stalled there this evening and is currently 50 pips lower than this price.

Your swing high is a very interesting one and would predict a much more significant retracement.
I have made quite a few pips on this pair in the last few days.
I am watching it closely.
Over the last hour there has been very little movement in price.
My bet is that price will continue down.
There was something on my news feed with my platform about a big short on this pair coming out of London this afternoon.
  • #65,010
  • May 27, 2010 1:30pm May 27, 2010 1:30pm
Quoting Pinbar
Quick non trading question.

What does the "16" stand for in James 16?

Did Jim initially discover 16 candle patterns or something, or is my mind working overtime again?
I heard that when James had made $16 thousand zillion trillion on the markets he heard that it was easier for a rich man to get into Heaven than pass through the eye of a needle.

Not wanting to go on a strict diet he decided he would guarantee his place in Heaven by telling us lot about his secret method for success.
  • #65,011
  • May 27, 2010 1:47pm May 27, 2010 1:47pm
1H BEOB???

Nit much time left for that. lol

Anyways lets see...
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  • #65,012
  • May 27, 2010 1:48pm May 27, 2010 1:48pm
GBP/USD has broken 1.46. If you'd asked me this morning I would have suggested it would bounce off that level, but now I wouldn't be surprised to see it continue up.
  • #65,013
  • May 27, 2010 2:13pm May 27, 2010 2:13pm
Quoting six gun
I heard that when James had made $16 thousand zillion trillion on the markets he heard that it was easier for a rich man to get into Heaven than pass through the eye of a needle.

Not wanting to go on a strict diet he decided he would guarantee his place in Heaven by telling us lot about his secret method for success.
Here ya go fellas...

http://www.forexfactory.com/showpost...ostcount=56953
.
  • #65,014
  • May 27, 2010 2:44pm May 27, 2010 2:44pm
Quoting emiliolopez
why?
strong uptrend on gold since 2001. trying to short is like trying to stop a freight train with your body weight - - it doesn't end well.
Many choose unhappiness over uncertainty.
  • #65,015
  • May 27, 2010 2:49pm May 27, 2010 2:49pm
ok, once again, I4Bs straddling VBRNs prove successful.

I got out at B/E on this, but price did in fact later hit what would have been my final t/p target.
Attached Image
Many choose unhappiness over uncertainty.
  • #65,016
  • May 27, 2010 2:51pm May 27, 2010 2:51pm
Quoting Dan Gilbert
ok, once again, I4Bs straddling VBRNs prove successful.

I got out at B/E on this, but price did in fact later hit what would have been my final t/p target.
nice
  • #65,017
  • May 27, 2010 2:57pm May 27, 2010 2:57pm
Hello Dan
what is the best number of Fibo retracement?
  • #65,018
  • May 27, 2010 2:59pm May 27, 2010 2:59pm
Dan,

Nice trade you are awesome with the I4B's. I have said this before that I would like to start trading them and I think you may have answered a previous question on them for me.

What is your money managment and position sizing for the I4b's, stops and what not.

Thanks in advance for your help.

Quoting Dan Gilbert
ok, once again, I4Bs straddling VBRNs prove successful.

I got out at B/E on this, but price did in fact later hit what would have been my final t/p target.
  • #65,019
  • May 27, 2010 3:15pm May 27, 2010 3:15pm
Quoting extraneo
Hello Dan
what is the best number of Fibo retracement?
50%, and 61.8%. probably 61.8% more than 50%. I take off the other fib levels from my fib retracement tool because they don't seem to work very often for me.

Quote
Dan,

Nice trade you are awesome with the I4B's. I have said this before that I would like to start trading them and I think you may have answered a previous question on them for me.

What is your money managment and position sizing for the I4b's, stops and what not.

Thanks in advance for your help.

this one on GBP/JPY was a 2% risk on BOTH SIDES. I liked it that much. stops are on the other side of the inside bar. on the break upward, I was 30 pips to B/E, and if it broke southbound, I was going for a 60 pips to B/E, because I liked the downside break more than upside (because trend is down). But you can take I4B's both sides, in fact I suggest it.
Many choose unhappiness over uncertainty.
  • #65,020
  • May 27, 2010 3:31pm May 27, 2010 3:31pm
thanks Dan
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