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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

  • #66,781
  • Jun 20, 2010 7:33am Jun 20, 2010 7:33am
Quoting nuclear62
Happy trading!

I´ve noticed the power of Mike´s cherry trades! Then I noticed I have a problem when trying to find space when selling. Is this right? We have space to sell, when price has rised and then moved a little bit sideways?

Loving this thread, loving the life more and more
here you go.

hope it clears the issue.

g.
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I believe . . .
  • #66,782
  • Edited 8:43am Jun 20, 2010 7:50am | Edited 8:43am
Quoting ghous
here you go.

hope it clears the issue.

g.
Thank you ghous, it cleared, a lot

This is a pair I´ve been keeping my eye on..In this situation(I4B at BRN), we have little space. We have TAs near so we want to manage this tightly. Getting these things.. Hopefully

And there´s another chart, is this a good example about when we have space?
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  • #66,783
  • Jun 20, 2010 8:12am Jun 20, 2010 8:12am
Please forgive me if this is a stupid question, but I'm a newbie at trading and has just started to follow this thread. One of the points I've grasped is that it's necessary to have a large account with a small risk. I just want to know how large should an account be? I'm just a college student at the moment, and a $2,000 deposit for live account is fine, but I'm afraid not more than that. Is it ok?

Any help is truly appreciated. Thanks.
  • #66,784
  • Jun 20, 2010 9:18am Jun 20, 2010 9:18am
Hi ghous:

I am not sure whether there is some concern I pointed out in my modified chart. There is some price flip there. Could you share me your thought on finding the FTA?

Thanks,
Yang

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Quoting ghous
here you go.

hope it clears the issue.

g.
  • #66,785
  • Jun 20, 2010 11:07am Jun 20, 2010 11:07am
Quoting nuclear62
Happy trading!

I´ve noticed the power of Mike´s cherry trades! Then I noticed I have a problem when trying to find space when selling. Is this right? We have space to sell, when price has rised and then moved a little bit sideways?

Loving this thread, loving the life more and more
Hey Nuc

Yep this is correct sir. There are degrees of space just like degrees of PPZs

Mike
  • #66,786
  • Jun 20, 2010 11:07am Jun 20, 2010 11:07am
Hi everyone.

Just found this post and it really is a breath of fresh air! Ive been trading for about 2 years now, and havent really moved forward but really hoping this will teach me everything I need to know. Im currently on page 52 of this thread so about 4400 to go! I was just wondering if the paid forum is like this too? or if all the information is in one easily accessible place?

Thanks again!

Nick
  • #66,787
  • Jun 20, 2010 11:23am Jun 20, 2010 11:23am
Quoting nuclear62
Thank you ghous, it cleared, a lot

This is a pair I´ve been keeping my eye on..In this situation(I4B at BRN), we have little space. We have TAs near so we want to manage this tightly. Getting these things.. Hopefully

And there´s another chart, is this a good example about when we have space?
You got it!
I believe . . .
  • #66,788
  • Jun 20, 2010 12:06pm Jun 20, 2010 12:06pm
http://www.hiddenmysteries.net/gltes...00610081702539
  • #66,789
  • Edited 1:34pm Jun 20, 2010 1:19pm | Edited 1:34pm
Quoting fxdrive
I addition to the last post would the following be a 3 day pin bar and is it a valid J16 PA setup?
Yes, that would be a 3 Day PB.

Here's a similar example. Eur/Usd on the Weekly.

If we look at the Monthly chart, we know that we are only 3 weeks into the Month. So we can see Price being presented as a 3 Week PB at the end of this week on the Monthly. Not just with the Euro but with all pairs, meaning other pairs will represent a 3 week formation on the Monthly.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,790
  • Jun 20, 2010 1:27pm Jun 20, 2010 1:27pm
Quoting mbqb11
mark the major PPZs they will come back
I figured you could tell where the BRNs were anyway, Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #66,791
  • Jun 20, 2010 1:39pm Jun 20, 2010 1:39pm
Quoting ghous
I have said it before and I am going to say it again...

You enter an entire new dimension in your trading career, on the very the day you stop "bar hunting" ...
g.
A fantastic post. This really made me stop and think about what I am doing and why. I'm still trying to open the door to this new trading dimension you all live in but feel that bit closer.
  • #66,792
  • Jun 20, 2010 1:41pm Jun 20, 2010 1:41pm
Quoting jarroo
Yes, that would be a 3 Day PB.

Here's a similar example. Eur/Usd on the Weekly.

If we look at the Monthly chart, we know that we are only 3 weeks into the Month. So we can see Price being presented as a 3 Week PB at the end of this week on the Monthly. Not just with the Euro but with all pairs, meaning other pairs will represent a 3 week formation on the Monthly.
It would be interesting to see the body of the fully formed monthly pin bar end up sitting above the 1,25 BRN. That would be a decent sized pb.
The EUR has been in decline for a long time - I don't see a fundamental reason for a change but a bottom in this market had to be reached at some time.
  • #66,793
  • Edited 2:05pm Jun 20, 2010 1:42pm | Edited 2:05pm
Quoting fxdrive
A fantastic post. This really made me stop and think about what I am doing and why. I'm still trying to open the door to this new trading dimension you all live in but feel that bit closer.

I agree, its a great post.

I like this line . . . "PPZ levels . . . "gas stations" for Price".
Indicators show the past. Price Action "Indicates" the future.
  • #66,794
  • Jun 20, 2010 1:50pm Jun 20, 2010 1:50pm
Quoting jarroo
Yes, that would be a 3 Day PB.

Here's a similar example. Eur/Usd on the Weekly.

If we look at the Monthly chart, we know that we are only 3 weeks into the Month. So we can see Price being presented as a 3 Week PB at the end of this week on the Monthly. Not just with the Euro but with all pairs, meaning other pairs will represent a 3 week formation on the Monthly.
Nice one. Thanks for the clarification and charts. I've had trouble in the past trading a weekly chart. Would you trade a weekly chart all by itself without drilling down into the daily or use the information in the weekly setup to show direction and then take a daily setup if it shows itself?
  • #66,795
  • Edited 2:09pm Jun 20, 2010 1:52pm | Edited 2:09pm
Quoting six gun
It would be interesting to see the body of the fully formed monthly pin bar end up sitting above the 1,25 BRN. That would be a decent sized pb.
The EUR has been in decline for a long time - I don't see a fundamental reason for a change but a bottom in this market had to be reached at some time.

Nice analysis six gun, and an important point.

Its true, that viewing Price in an aggregated or combined way will present more PA formations but this does not mean they are tradable. We still have to do our due diligence of seeing . . PPZ levels, Swing High/Low, Confluences, Bar size, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #66,796
  • Jun 20, 2010 2:02pm Jun 20, 2010 2:02pm
Quoting fxdrive
Nice one. Thanks for the clarification and charts. I've had trouble in the past trading a weekly chart. Would you trade a weekly chart all by itself without drilling down into the daily or use the information in the weekly setup to show direction and then take a daily setup if it shows itself?

Yes to both questions.

Check out oneuniverse recent post on the Nzd/Jpy. You can use the Higher time frames( Monthly, Weekly) in confluence with the Daily. Meaning any good bearish PA on the Daily ( Big bar, swing high, etc) would be in agreement with these higher time frames. (mainly with the Monthly)

Or just taking the higher time frame setup (like a Monthly BEOB) as a stand alone setup will work also.

Quoting oneuniverse
Hi,
Just my 2 cents.....

NJ monthly shows a BEOB with 50% fib retracement and the next month candle is retracing the BEOB monthly candle which could soon resume the down trend

Only Weekly, there is strong support from lower wicks near lower rectangle and good resistance around 65

On H4, we see traingle patter consolidating the upmove, it seems it is poised for upbreakout!

Looking at all three, I would look for shorts near 65 with nice PA

Kind Regards
Winston
Indicators show the past. Price Action "Indicates" the future.
  • #66,797
  • Jun 20, 2010 2:20pm Jun 20, 2010 2:20pm
Quoting sollavia
Please forgive me if this is a stupid question, but I'm a newbie at trading and has just started to follow this thread. One of the points I've grasped is that it's necessary to have a large account with a small risk. I just want to know how large should an account be? I'm just a college student at the moment, and a $2,000 deposit for live account is fine, but I'm afraid not more than that. Is it ok?

Any help is truly appreciated. Thanks.
Welcome sollavia.

But your money away for now, please . Follow the 1st post of this thread and open a Demo account. You got to prove it to yourself on demo first, my friend.

Again welcome to the journey,


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #66,798
  • Edited 2:48pm Jun 20, 2010 2:37pm | Edited 2:48pm
Quoting nickchan24
Hi everyone.

Just found this post and it really is a breath of fresh air! Ive been trading for about 2 years now, and havent really moved forward but really hoping this will teach me everything I need to know. Im currently on page 52 of this thread so about 4400 to go! I was just wondering if the paid forum is like this too? or if all the information is in one easily accessible place?

Thanks again!

Nick
Hey Nick and welcome.

I would continue on this thread for awhile, alot a great stuff here.

I don't know if you have seen the guest material:
http://www.james16group.us/Guests/guestmaterial.html

The James16 Group has a ton more videos, webinars and different methods incorporating Price Action. Definitely worth a long look when you feel the time is right. But I may have a bias, because I'm a lifetime member. I can't say enough about it, its a great place.
Indicators show the past. Price Action "Indicates" the future.
  • #66,799
  • Jun 20, 2010 3:01pm Jun 20, 2010 3:01pm
Wishing all Dad's a HAPPY FATHERS DAY!
  • #66,800
  • Jun 20, 2010 3:06pm Jun 20, 2010 3:06pm
Quoting tubguy
Wishing all Dad's a HAPPY FATHERS DAY!
I will second that
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