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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

  • #68,321
  • Jul 10, 2010 11:05am Jul 10, 2010 11:05am
this is what it looks like on my chart and i like it.
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  • #68,322
  • Jul 10, 2010 11:15am Jul 10, 2010 11:15am
Quoting Bemac
I'll leave the J16 PA for Mike to address but wanted to comment on this one if that's ok.

I agree with the Q?
"Solid support. Can this hold one more time?"
I Suspect that it will.

IF AND:
If it does
And it climbs to FTA4; we will be setup for a Potential H&S so I would expect a bit of a fight there.
Attachment

If the Support fails it would suggest to me that the Bears are Hunting Parity again.
I am with you on both - 1) FTA 4- H &S
2) If support breaks - running for parity.
  • #68,323
  • Jul 10, 2010 1:00pm Jul 10, 2010 1:00pm
Quoting ddinnov
Thanks!

That's actually the trade checklist, on the left screen I have the trading beliefs and out of the picture to the left on the wall I have the actual plan.

I read them all each day before opening up my charts.
that made my weekend
  • #68,324
  • Jul 10, 2010 1:01pm Jul 10, 2010 1:01pm
Quoting Grousman
Hi all and keep up great work. I use FX Lite Trader 4 - Demo account for charts but place trades with another broker. My brokers charts not that good.

Noticed some charts here are not offered by FX Lite.

Any free, comprehensive, sites I can have a look at?

Any help appreciated!!
Hey Grous

Check out fxpros demo, it has a ton of pairs and a bunch of other securities as well

Mike
  • #68,325
  • Jul 10, 2010 1:08pm Jul 10, 2010 1:08pm
Quoting Bemac
I'll leave the J16 PA for Mike to address but wanted to comment on this one if that's ok.

I agree with the Q?
"Solid support. Can this hold one more time?"
I Suspect that it will.

IF AND:
If it does
And it climbs to FTA4; we will be setup for a Potential H&S so I would expect a bit of a fight there.
Attachment

If the Support fails it would suggest to me that the Bears are Hunting Parity again.
man if that H&S plays out that is one big bear move coming
  • #68,326
  • Jul 10, 2010 1:34pm Jul 10, 2010 1:34pm
Quoting mbqb11
that made my weekend
Thanks Mike -

I'm certainly seeing an improvement. It's almost as though blowing that (small) live account was one of the best investments I've made
Anything can happen.
  • #68,327
  • Jul 10, 2010 5:36pm Jul 10, 2010 5:36pm
I noticed that I read much slower than the thread grows
So will try to place a trade as soon as market opens...with the info I learned so far...

This is what I have chosen friday (should have already placed my order) but was a little too slow....
Initial SL would be 3% on this trade

Will try to post my first attachment now
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  • #68,328
  • Jul 10, 2010 5:58pm Jul 10, 2010 5:58pm
I'm seeing an argyle sweater with frilly lace on the bottom of this H&S
http://www.forexfactory.com/attachme...hmentid=505505
  • #68,329
  • Jul 10, 2010 9:35pm Jul 10, 2010 9:35pm
Quoting benji533
Hey jeurre,

When I say a breakout pattern is a sign of a pause I mean we are in a...

Many thanks appreciate the input.

Hhmm, does that mean the IB's are the least reliable of all the setups?
  • #68,330
  • Jul 10, 2010 9:50pm Jul 10, 2010 9:50pm
This month's trade, still full but free, hoping it will down more, will watch it carefully...
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Back to the beginning ... demo
  • #68,331
  • Jul 10, 2010 10:34pm Jul 10, 2010 10:34pm
Quoting goldtrader
This month's trade, still full but free, hoping it will down more, will watch it carefully...
This is a good one. I didn't trade this since BEOB left a long wick at the bottom. It suggested me that bears are NOT in complete control..
I guess I was wrong.

Good one though. All the best.. It looks like it still has more steam to go down.

Now I looking at the weekly BEOB to enter a position. (Posted above).
  • #68,332
  • Jul 10, 2010 11:14pm Jul 10, 2010 11:14pm
Great trade, gold trader!

No Beob that I can see cprao. I could be wrong.
  • #68,333
  • Jul 11, 2010 12:08am Jul 11, 2010 12:08am
Quoting tubguy
No Beob that I can see cprao. I could be wrong.



As you said, it is not an eye catching BEOB. probably not a tradable bar.
http://www.forexfactory.com/showpost...ostcount=68317
  • #68,334
  • Jul 11, 2010 2:46am Jul 11, 2010 2:46am
I took USD/CAD but it was a DBHLC on my feed. Took all profits at 1.0380, maybe I should have stayed in..
Anything can happen.
  • #68,335
  • Jul 11, 2010 3:41am Jul 11, 2010 3:41am
Hi All,

I am an old member of ForexFactory. I don't even remember my old nick. I used to trade between (end of) 2005 and (mid) 2007.

I lost $50,000 to the forex market. Sucka. Wife says "wish you had a bought a nice house for us". Hmmm.

I was so disgusted with what happened, that I decided to completely quit this area, and got myself a job.

It has been 3 years now. I did various things to support myself and family in these 3 years.

In the last 3 weeks, I have been having this strange "calling back" to the markets. I even had a couple strong dreams, where I saw arranging the funds to get in and start.

When I faced reality fnally, 2 weeks back, I decided if I would get in this time, I wouldn't touch a single indicator, no matter how good or tempting. Also, I took stock of my thoughts, to gauge my feelings when thinking about trading.

I tell you, those $50,000 taught me a heavy heavy lesson.

And then I remembered J16. Just before I had quit the markets in 2007, a friend from UK had intro'd me to this name. But my disgust forced me to look away and never come back. A sort of VOW.

Believe me guys, 10 days back, I was frantically searching for the name, trying all sorts of combinations on Google to come up with the name (havent met my friend since months), and finally, some search I gave, popped up the James16 name.

Been around this thread for the past week, and it has been really refreshing. For me, it has been easy grasping the concepts here, because this isn't new for me. The core reason for my losing the hefty sum was bad money and risk management (unless they are same).

I have demoing for the last week and out of 5 trades, have lost only one, which actually was a winner, but I lost due to tight stops.

I am moving to a live account with $250, not to turn it into a million (you never know, rob booker said he did that lol), but to detach myself from the emotions, the greed and an even bigger enemy, The Fear.

Sorry James, if I am breaking the rule.

I plan to go live tomorrow, and for next 3 months, will strictly stick to trading Pin Bar Reversal/Pin Bar Retracement w/ Fibonacci and couple MAs to identify key areas. Simple.

On Daily Charts. I find the balance there. Nothing above, nothing below.

Thanks for allowing me to express my heart.
  • #68,336
  • Jul 11, 2010 5:10am Jul 11, 2010 5:10am
Quoting ddinnov
I took USD/CAD but it was a DBHLC on my feed. Took all profits at 1.0380, maybe I should have stayed in..

CAD employment figures came out on Friday. Thats what strenghthened the CAD. Big news like that i would play safe. Either Breakeven and/or cash in or just HOPE the news is in your favour.

Pippage
  • #68,337
  • Jul 11, 2010 7:18am Jul 11, 2010 7:18am
Quoting ddinnov
...That's actually the trade checklist, on the left screen I have the trading beliefs a....
unable to read the two, can u share what the two lists say?


Quoting everydayguid
Hi All,
I am an old member of ForexFactory. I don't even remember my old nick. I used to trade between (end of) 2005 and (mid) 2007.
.....
Glad u found your way back!
Welcome & hope to see u posting actively soon
  • #68,338
  • Jul 11, 2010 8:04am Jul 11, 2010 8:04am
Quoting everydayguid
Hi All,

I am an old member of ForexFactory. I don't even remember my old nick. I used to trade between (end of) 2005 and (mid) 2007.

I lost $50,000 to the forex market. Sucka. Wife says "wish you had a bought a nice house for us". Hmmm.

I was so disgusted with what happened, that I decided to completely quit this area, and got myself a job.

It has been 3 years now. I did various things to support myself and family in these 3 years.

In the last 3 weeks, I have been having this strange "calling back" to the markets. I even had a couple...

Very honest and heart touching story, I am sure there are many more people who went through this.

May, I ask why you want to start live tomorrow and not trade this system on demo for a while?

Either way, wishing you good trading.
  • #68,339
  • Jul 11, 2010 8:23am Jul 11, 2010 8:23am
Quoting Atc
I'm seeing an argyle sweater with frilly lace on the bottom of this H&S
That's no Lace laddie. That's ma Sporren.
  • #68,340
  • Jul 11, 2010 8:28am Jul 11, 2010 8:28am
Quoting Bemac
That's no Lace laddie. That's ma Sporren.

Bemac, may I ask a question about your charts?


I noticed you seem to be using some time based grid, maybe a Gann grid.

Do you find adding this time dimension to trading or perhaps rather a sporren cycle type trading aspect, has many benefits? LoL

Thanks in advance.
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