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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

  • #69,581
  • Edited 11:36am Jul 23, 2010 11:22am | Edited 11:36am
Quoting jeurre
your method rocks ,keep up with more trendlines,please
we had not enough exploration on the power of trendline,it has a lot significance on its mission , i think . so, i am very glad to see people drawing them in a smart manner

jeurre
Hey jeurre,

Well TL's can be abused and drawn everywhere so you have to be careful how you use them - my method is not special as its mainly Price Action focused as discussed in this thread with other bits thrown in that I've learned over the years that help me.

If my strange trading quirks can help others (I am always developing / improving so they may evolve) then great I will share some more, but the key is staying in the game to find what works for you and keeping it simple (which I admit I am not always great at) in the beginning until it becomes part of you and your trading.

A lot of the guys here remind us of that and I have to agree with them. I may complicate things for people. I started with the basics and never stopped learning.

What ever you do, learn to protect your capital/money first as without capital/money there is no trading. Its the same in business....and I had a very nasty experience in business which cost me dearly and taught me a big lesson.

To do this you must learn to be patient enough to wait for the best set-ups, and use charting analysis to pick them. Boy can that be difficult as those itchy trigger fingers and time spent staring at charts can really mess with your head but you will do it if that is what you want to do.
In retrospect we learn. In perspective we earn.
  • #69,582
  • Edited 1:24pm Jul 23, 2010 12:59pm | Edited 1:24pm
im following
nxt week =>

enzd ^^

edit: eaud ^^

usdjpy on weekly 2 bars same low 86.33 and 86.25 on weekly chart i consider as same..
BUT didnt exceed 50% of last week's bar ..
daily hesitating on long above 87.50
  • #69,583
  • Jul 23, 2010 1:05pm Jul 23, 2010 1:05pm
Quoting fx_heaven
Hey jeurre,

Well TL's can be abused and drawn everywhere so you have to be careful how you use them - my method is not special as its mainly Price Action focused as discussed in this thread with other bits thrown in that I've learned over the years that help me.

If my strange trading quirks can help others (I am always developing / improving so they may evolve) then great I will share some more, but the key is staying in the game to find what works for you and keeping it simple (which I admit I am not always great at) in the beginning until it...
brilliant post going into the weekend

Thanks FX
  • #69,584
  • Jul 23, 2010 1:11pm Jul 23, 2010 1:11pm
Quoting mistersimple
ok ghous...

gbpchf was the most explosive today .. well didnt expect it could go so far..
now, next week maybe small retracement.. to pursue heading north?!
A pull back to the consolidation box to the left would be nice.

g.
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I believe . . .
  • #69,585
  • Jul 23, 2010 1:28pm Jul 23, 2010 1:28pm
EURUSD weekly not very good for bulls...?
  • #69,586
  • Jul 23, 2010 1:32pm Jul 23, 2010 1:32pm
Quoting mbqb11
brilliant post going into the weekend

Thanks FX
Thanks Mike

Your video on trading space and traffic was great by the way, made it very clear.
In retrospect we learn. In perspective we earn.
  • #69,587
  • Jul 23, 2010 3:02pm Jul 23, 2010 3:02pm
Quoting mbqb11
This one really went off like a rocket and I know you are either kicking yourself for not taking it, or very happy. I am glad if you did catch that move but I want to show you a few things cause it is very important. First here is my same chart yesterday but on the 1hr with our marked FTA we discussed. . Obviously if you are very conservative you are getting stopped out at b/e and if you are more of a trailing type person like myself you probably caught this.

But this is the other post I want to reference b/c this is exactly what this bar taking...
Your kind words make me feel a little better. I just demoed this one. At the last minute I went with experience. That I needed some sleep bad.

Do you have a reference on what you consider a "large" or good size PB? Does it depend on the pair? This one was about 70 pips lower than the previous bar, so I thought it was a decent size PB.
  • #69,588
  • Jul 23, 2010 3:22pm Jul 23, 2010 3:22pm
Quoting fx_heaven
Nice Dan Gilbert ! If price stays like that and with an earlier entry you might have been able to hold the BEOB which is forming on the Weekly also.
nah.....

One of my rules is "manage weekly trades on a weekly chart, manage daily trades on a daily chart, manage H4 trades on an H4 chart, and manage H1 trades on an H1 chart"

You will see here, I think my full take profit targets were well placed. (the emboldened red horizontal line at 0.83254 for E/G and 1.04105 for U/C)
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Many choose unhappiness over uncertainty.
  • #69,589
  • Jul 23, 2010 3:34pm Jul 23, 2010 3:34pm
what to do with this pinbar?

pro: retraced from a ppz a rn; closed above rn
con: small bar compared to the one left; in traffic.
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meine augen sind die sterne
  • #69,590
  • Jul 23, 2010 3:38pm Jul 23, 2010 3:38pm
Quoting mistersimple
EURUSD weekly not very good for bulls...?
On the weekly there is a doji.
This is an indecision candle - it is neither positive nor negative.
The week has been waiting for the bank stress tests - so indecision is hardly surprising.
The direction of the EUR depends on the market's assessment of the data.
The tests appear not to have been very rigorous.
This is hardly surprising either as the ECB will not want the European banks to fail.
So we will wait for the number crunches to do their thing over the weekend.
  • #69,591
  • Jul 23, 2010 4:17pm Jul 23, 2010 4:17pm
Quoting spookie94
Your kind words make me feel a little better. I just demoed this one. At the last minute I went with experience. That I needed some sleep bad.

Do you have a reference on what you consider a "large" or good size PB? Does it depend on the pair? This one was about 70 pips lower than the previous bar, so I thought it was a decent size PB.
Hey Spookie,

For me it depends on what the look is around it. IMO the reason this worked so well was the predominant trend was down and there was some buying coming in at that level and being it was friday everyone wanted out and we got a cascade effect. The important thing is not that you CANT trade those bars as I said, but you need to take note of the areas we discussed and THEN make your decisions(whatever they may be , they will vary trader to trader). Someone like Jarroo likes to take 1/2 off or so at those trouble areas. Move his stop to where he is NET breakeven (not where his entry was) this now allows for him to have more room b/c many times you are going to get a retest of where your entry is(above the bar high) b/c highs and lows are very important, then fresh buyers come in. I believe(not at my charts) that this is a case where that would have happened and boom a runner.

I just knew once I saw price doing this your brain was going 100miles a minute so I wanted to ease those thoughts one way or another before you got here

Enjoy the weekend all

Mike
  • #69,592
  • Jul 23, 2010 7:35pm Jul 23, 2010 7:35pm
I've been recommended this thread via word of mouth, 4600 posts! Woa!!
  • #69,593
  • Jul 23, 2010 9:16pm Jul 23, 2010 9:16pm
Hey everyone,

First post with a question:

1) I am going to be tracking my trades and management on a personal website. I wanted to reference this thread because the majority of what I use/know I learned here. How should I do this? Hyperlink? I am just learning how to make a website, so if anyone could direct a lay-person to the rules I'd be very grateful.

Thanks Jim! You've taught me so much and hopefully set me on the road being able to retire some day. I can't say thanks enough, that goes for Jaro, Mbqb and everyone. After saving up enough I'll be able to someday join the sought after private forum too!
No sig
  • #69,594
  • Jul 24, 2010 12:23am Jul 24, 2010 12:23am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting mbqb11
Hey Spookie,

For me it depends on what the look is around it....
Hi Mike, does using the 'J16 manager EA' as found in this thread work well with the recommended profit taking / SL trade management strategy of Jim?
I have seen the enemy, and it is me.
  • #69,595
  • Jul 24, 2010 1:41am Jul 24, 2010 1:41am
Quoting FibbinArchie
I've been recommended this thread via word of mouth, 4600 posts! Woa!!

Hi, & welcome.

That is 4600 pages & nearly 7000 posts.

You have a lot of reading to do.


I managed it in 3 months.
  • #69,596
  • Jul 24, 2010 1:46am Jul 24, 2010 1:46am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting Pinbar
Hi, that is 4600 pages & nearly 7000 posts.
Its better late than never. Who knows you'd be glad you learnt here now and at about 10,000 pages length you might be thankful you'd joined at 4600th page. And when you finally become a millionaire, remember Jim and the rest of us.
I have seen the enemy, and it is me.
  • #69,597
  • Jul 24, 2010 2:06am Jul 24, 2010 2:06am
Quoting Jey
Its better late than never. Who knows you'd be glad you learnt here now and at about 10,000 pages length you might be thankful you'd joined at 4600th page. And when you finally become a millionaire, remember Jim and the rest of us.
I'm on page 16 and steadily moving forward. I have a lot of reading to do, but I'm excited about what I will learn.

Synergy
  • #69,598
  • Jul 24, 2010 2:41am Jul 24, 2010 2:41am
Quoting supremeChaos
Hello Adilius07,
i think that is not possible.....
i think Adilius07 & several others would LOVE this.
Changing TFs of all open charts to a single TF simultaneously..... it just recently became possible!
(click -->) Thanks to zznbrm!
  • #69,599
  • Jul 24, 2010 2:57am Jul 24, 2010 2:57am
Quoting tubguy
Hey Novice,

Sorry if I caused some confusion. My objective was to show that even a guy like me, that has been at this for a long time can miss something and lose.
I have a bit of a wild streak and occasionally jump on a trade to early, but
I can deal with the loss if it happens. That being said, I do not advocate anyone taking trades that I may take. Stick with the standard J16 trades and profit.
I made a very good profit in the beginning trading Jim's standard stuff. Then
I decided to go play about every other style and method here and on the...
Thanks for the clarification and the indicator. Both are great. I started about two months back on J16 and now I am again a confused man and struggling. I just don't find any trades using J16 method and as a result I look for trades using my old methods which I wanted to erase with a final result of some small wins but more big losses.

From next week I hope to start fresh.
Cheers
Novice 198
  • #69,600
  • Jul 24, 2010 3:44am Jul 24, 2010 3:44am
Quoting Dan Gilbert
I cannot believe no one has mentioned this yet!

I13B, also a squeeze alert 3 bar pattern, stradding VBRN 1.0500.

I have set my sell stop and buy stop below and above the smallest (most recent) bar in the pattern. T/P are at the ORANGE fibo lines of 100.00 and 0.00

my favorite daily pattern in trading.
Dan,
Pls pardon my ignorance, what strategy are you applying. Is it break of an IB?
Cheers
Novice 198
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