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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

  • #70,221
  • Jul 30, 2010 5:16am Jul 30, 2010 5:16am
anyone watching GU at 4HR tf?
  • #70,222
  • Jul 30, 2010 5:24am Jul 30, 2010 5:24am
Quoting Donkey
I demo traded a small, bearish daily IPB last night off of the 1.6200...
i think u played that well.
i remember eswapo traded that too.

continue practice trading it, if u are into IPBs.
  • #70,223
  • Jul 30, 2010 5:25am Jul 30, 2010 5:25am
Quoting six gun
I just read this on a forum.
It is for the UK but you can put US and change the numbers I'm sure.
LOL.
everyone's in a mess right now.
  • #70,224
  • Jul 30, 2010 5:25am Jul 30, 2010 5:25am
Quoting hijackxx
anyone watching GU at 4HR tf?
Right now there are two doji on the daily.
This is at 1.56.

Is that the end of the bull run or is it just having a rest?

On 4H my chart shows a largish bodied bullish pin bar.
I think price is waiting for economic data.
  • #70,225
  • Jul 30, 2010 5:50am Jul 30, 2010 5:50am
Quoting six gun
I just read this on a forum.
It is for the UK but you can put US and change the numbers I'm sure.


The UK is in DEEP trouble...

The population of this country is approximately 60 million.

32 million are retired.

That leaves 28 million to do the work..

There are 17 million in school or at Universities.

Which leaves 11 million to do the work.

Of this there are 8 million employed by the UK government.

Leaving 3 million to do the work.

1.2 million are in the armed forces preoccupied with killing Osama Bin-Laden,
and fighting in Afghanistan...
wait....that doesn't even mention the unemployed....yikes we have 2.5 million people unemployed (more would be realistic)

so that's -2.5 million people doing the work - blimey no wonder we need immigration
In retrospect we learn. In perspective we earn.
  • #70,226
  • Jul 30, 2010 6:07am Jul 30, 2010 6:07am
Quoting fx_heaven
wait....that doesn't even mention the unemployed....yikes we have 2.5 million people unemployed (more would be realistic)

so that's -2.5 million people doing the work - blimey no wonder we need immigration
Well we know that only fools and horses work.

What is happening is there is the Black Economy.
No income tax, no VAT, no money back, no guarantee.

And then there's the City of London, one of the world centres for funny money and dodgy dealings.
  • #70,227
  • Jul 30, 2010 6:11am Jul 30, 2010 6:11am
Quoting six gun
I just read this on a forum.
It is for the UK but you can put US and change the numbers I'm sure.


The UK is in DEEP trouble...

The population of this country is approximately 60 million.

32 million are retired.

That leaves 28 million to do the work..

There are 17 million in school or at Universities.

Which leaves 11 million to do the work.

Of this there are 8 million employed by the UK government.

Leaving 3 million to do the work.

1.2 million are in the armed forces preoccupied with killing Osama Bin-Laden,
and fighting in Afghanistan...
32 Million retired?

Hmm, something's wrong with that. For instance, wikipedia disagrees: http://en.wikipedia.org/wiki/Demogra...#Age_structure

If only 15.7% is aged 65+, then how can more than 50% of the whole population be retired? Hmm, better check your source on that...

(I do get the punt though )
  • #70,228
  • Jul 30, 2010 6:54am Jul 30, 2010 6:54am
Quoting o990l6mh
32 Million retired?

Hmm, something's wrong with that. For instance, wikipedia disagrees: http://en.wikipedia.org/wiki/Demogra...#Age_structure

If only 15.7% is aged 65+, then how can more than 50% of the whole population be retired? Hmm, better check your source on that...

(I do get the punt though )
It's a joke - but you know that already "(I do get the punt though )"
  • #70,229
  • Jul 30, 2010 9:01am Jul 30, 2010 9:01am
A bunch of us are hanging in the chat for a late week chat come by if you want I will be there for another hour or so

http://www.james16group.us/Guests/guestchat.html
  • #70,230
  • Jul 30, 2010 10:00am Jul 30, 2010 10:00am
Quoting Donkey
I demo traded a small, bearish daily IPB last night off of the 1.6200 . Sold at 1.6175 with a s/l at 1.6210. Set a T/P of 1.6105. This was only the second IPB, I've demo'd and it worked out. For those of you who play these regularly was this a valid bar, or maybe some beginners luck?

hey donkey, how do you get a 6175 entry on that daily ipb? from what I've read your entry would be at the break of the low at that ipb...?
  • #70,231
  • Jul 30, 2010 10:30am Jul 30, 2010 10:30am
Quoting Donkey
I demo traded a small, bearish daily IPB last night off of the 1.6200 . Sold at 1.6175 with a s/l at 1.6210. Set a T/P of 1.6105. This was only the second IPB, I've demo'd and it worked out. For those of you who play these regularly was this a valid bar, or maybe some beginners luck?
Quoting True777
hey donkey, how do you get a 6175 entry on that daily ipb? from what I've read your entry would be at the break of the low at that ipb...?

True777, entries are at the Close of the IPB not the break of the low in this case.

Actually Donkey, this is IB that looks like an IPB. I don't think you got lucky because . . if I can understand your thinking . . you saw Price at a proven Resistance level, 1.6200, at a High and some divergence (although I can't see it on your chart). A touch trade at the 1.6200, with a tight stop loss would not be that crazy . . just ask the Rac-man.

But with that IPB looking Inside Bar gave a bit more confirmation to take your 1.6175 entry then just a touch trade. But a Bigger (longer) IPB that wasn't an IB would have given even more confirmation. A nice tight stop loss just above the 1.6200 would have been beautiful.

. . .again just to understand your thinking, meaning I don't think you were lucky, D-Man . .
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Indicators show the past. Price Action "Indicates" the future.
  • #70,232
  • Jul 30, 2010 11:31am Jul 30, 2010 11:31am
Quoting jarroo
True777, entries are at the Close of the IPB not the break of the low in this case.

Actually Donkey, this is IB that looks like an IPB. I don't think you got lucky because . . if I can understand your thinking . . you saw Price at a proven Resistance level, 1.6200, at a High and some divergence (although I can't see it on your chart). A touch trade at the 1.6200, with a tight stop loss would not be that crazy . . just ask the Rac-man.

But with that IPB looking Inside Bar gave a bit more confirmation to take your 1.6175 entry then just a touch...
Hey D,

Personally I didn't like how price was building up at the 1.62, and like jarroo mentioned the bar in consideration was more of an IPBish looking IB than a proper IPB, so it was an easy pass for me. Good to see it make it down to where you'd expect it to go though.



g.
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I believe . . .
  • #70,233
  • Jul 30, 2010 11:56am Jul 30, 2010 11:56am
I've been just surfing the web and found this fantastic post about J16 method. I had such a good laugh over it

So will share the post for you to enjoy (I don't know if it is ok to post a link to the other forum)

so here goes the post:

Re: Question about J16 pin bars

after some detailed study i have come to the conclusion that J16 method has a distinctive edge but only the pin bars. I could not find any evidence of an edge in his other formations, there is nothing in inside and outside bars that i could personally find.

Problem is i find a distinctive edge in pin bars but only on daily charts, so there are very few signals. It will work but account growth will be slow at around 8% a month.

It would take 8-10 years to hit a million if u started with 1k, I dont think anyone has that kind of patience.

For large accounts say atleast 50k its great.

Wahaha that really made my day! Using PinBars with my 5K I would hit 1 million in a 2-3 years, damn that's just too slow

Have a great weekend everyone!
  • #70,234
  • Jul 30, 2010 12:00pm Jul 30, 2010 12:00pm
Quoting Adilius07
I've been just surfing the web and found this fantastic post about J16 method. I had such a good laugh over it

So will share the post for you to enjoy (I don't know if it is ok to post a link to the other forum)

so here goes the post:...
Location makes a world of a difference
  • #70,235
  • Jul 30, 2010 12:31pm Jul 30, 2010 12:31pm
Any thought about e/u on daily ?
Thanks
  • #70,236
  • Jul 30, 2010 12:39pm Jul 30, 2010 12:39pm
Only 8% a month? LMFAO, that would be some amazing returns.

Not saying there are not people here already doing that, but if you can average 8% a month returns, you are destroying the average.
  • #70,237
  • Jul 30, 2010 12:48pm Jul 30, 2010 12:48pm
if I knew I'd be a millionaire in 10 years I'd be air five'ing you guys right now =)
  • #70,238
  • Jul 30, 2010 12:56pm Jul 30, 2010 12:56pm
I read through the first good bit of the thread about a year or so ago, life took me other directions and not till now that I'm able to pursue it more. I feel I retained most of the setups and rules, but find myself asking questions that seem pretty basic at times. Such as this last one, entering at an IPB and not the break. So, was there ever a compilation of system rules, setups, entries and the such of the original stuff, along with stuff added along the way?
  • #70,239
  • Jul 30, 2010 12:56pm Jul 30, 2010 12:56pm
some setups for next week.
GBPAUD: my sentiment LONG
why? => bounce from 1.73 + trendline
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  • #70,240
  • Jul 30, 2010 1:34pm Jul 30, 2010 1:34pm
usdjpy
off 86 + doji
long?
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