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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

  • #70,481
  • Aug 3, 2010 3:49pm Aug 3, 2010 3:49pm
Quoting Adilius07
Well maybe this one is going to be my first short stock trade (demo of course)
-IPB
-BRN
-2Top
-Some room to FTA
my limited knowledge on IPB but that looks pretty good,
  • #70,482
  • Aug 3, 2010 3:58pm Aug 3, 2010 3:58pm
Quoting mbqb11
my limited knowledge on IPB but that looks pretty good,
lol, I have no knowledge at all, but looks good. Will try.
Thanks for finviz.com - easy to navigate I love it!
  • #70,483
  • Aug 3, 2010 4:27pm Aug 3, 2010 4:27pm
My today's choose for IPB...
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Trading: the skill of avoiding trades
  • #70,484
  • Aug 3, 2010 4:31pm Aug 3, 2010 4:31pm
Quoting eswap0
My today's choose for IPB...
Eswap, looks promising. Have you entered? How do you enter on close of IPB or you look for some other confirmations, like from lower TF?
IPB's are something really new to me.
  • #70,485
  • Aug 3, 2010 4:36pm Aug 3, 2010 4:36pm
Quoting Adilius07
I was wondering. Does anyone trade stocks with J16 method?
For example Sp500 Index. 500 highly liquid stocks.
Easier to choose "a perfect setup" from 500 than from 30....

One reason I think it would not be wise is that stocks gap a lot?

Anyone had any experience? Thanks.
I dont trade them personally. At first i didnt know if the J16 method works with them as well.

On the charts posted below i have a trade that i watched about two months ago and i took it but when i was a little in profit i got scared and closed it But you can see that it worked out just fine in the end.

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Here is another one.

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  • #70,486
  • Aug 3, 2010 4:40pm Aug 3, 2010 4:40pm
Quoting ppfx
I dont trade them personally. At first i didnt know if the J16 method works with them as well.

On the charts posted below i have a trade that i watched about two months ago and i took it but when i was a little in profit i got scared and closed it But you can see that it worked out just fine in the end.

Attachment Attachment

Here is another one.

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Ppfx, you traded off monthly charts?
yes setups look more reliable, but of course you would have to wait so long for trade to work out. Needs a lot of patience, I'm not even sure I could handle that style of trading. Really a position trading I think.
  • #70,487
  • Aug 3, 2010 4:42pm Aug 3, 2010 4:42pm
Quoting Adilius07
Eswap, looks promising. Have you entered? How do you enter on close of IPB or you look for some other confirmations, like from lower TF?
IPB's are something really new to me.
First, IPB are a little tricky, not the classical J16 stuff, so, as Ghous is repeating over and over, demo trades are required before trading live.
The enter is taken just @ the close of the bar, SL is put just few pips away the short wick and TP (total or partial) some pips before the end of the long wick.
As always (here comes the link to J16 lessons) location is even more important than the candle itself.
Hope it helps a little bit.
Trading: the skill of avoiding trades
  • #70,488
  • Aug 3, 2010 4:44pm Aug 3, 2010 4:44pm
Quoting jarroo
Some bearish PA at the 1195.00 would look nice. If that's what you mean.
Im looking for an opportunity on gold for a few weeks now. You can see a quite nice monthly BUOB on the swing high. Im waiting it to brake the blue area. Meanwhile on the weekly you can see a pinbar just off the trendline. And the trend is up for quite some time now with a few moves down. So if it brakes the trendline imho i think it can go to 1100 or even to 1000, but i dont think the BUOB is big enough for a move like this. Will see what happens. Im definitely gonna watch it closely.

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  • #70,489
  • Aug 3, 2010 4:44pm Aug 3, 2010 4:44pm
anyone watching the AudCad? so many daily candles stop at basicly the same place.
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  • #70,490
  • Aug 3, 2010 4:46pm Aug 3, 2010 4:46pm
Quoting mbqb11
I am hanging out in the chat with some people if anyone wants to

http://www.james16group.us/Guests/guestchat.html
Mike congratz on reaching the magic number 5000 Keep up the good work. We all wants new amazing post from you.
  • #70,491
  • Aug 3, 2010 4:47pm Aug 3, 2010 4:47pm
Quoting eswap0
First, IPB are a little tricky, not the classical J16 stuff, so, as Ghous is repeating over and over, demo trades are required before trading live.
The enter is taken just @ the close of the bar, SL is put just few pips away the short wick and TP (total or partial) some pips before the end of the long wick.
As always (here comes the link to J16 lessons) location is even more important than the candle itself.
Hope it helps a little bit.
Thanks! I have not done any IPB's yet. I think I would start with moving full position to BE (like after 20-30 pips), and exiting full position at longer wick.
R:R is fantastic. But I need to learn to spot them. thanks.
  • #70,492
  • Aug 3, 2010 4:49pm Aug 3, 2010 4:49pm
Quoting ppfx
Mike congratz on reaching the magic number 5000 Keep up the good work. We all wants new amazing post from you.
ha didn't even realize . Thanks buddy
  • #70,493
  • Aug 3, 2010 4:50pm Aug 3, 2010 4:50pm
Quoting Adilius07
Ppfx, you traded off monthly charts?
yes setups look more reliable, but of course you would have to wait so long for trade to work out. Needs a lot of patience, I'm not even sure I could handle that style of trading. Really a position trading I think.
well im experimenting something with one of my demo accounts. From the screenshot below you can see that since april 27th i only had 1 losing trade. I know that my account didnt grow much but thats because i didnt cacth a runner yet. I would catch it once or twice, but because i moved my stops to BE early i was taken out. And also the trade i posted above would also help me gain a percent or two
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  • #70,494
  • Aug 3, 2010 4:53pm Aug 3, 2010 4:53pm
Quoting ppfx
well im experimenting something with one of my demo accounts. From the screenshot below you can see that since april 27th i only had 1 losing trade. I know that my account didnt grow much but thats because i didnt cacth a runner yet. I would catch it once or twice, but because i moved my stops to BE early i was taken out. And also the trade i posted above would also help me gain a percent or two
just a few days ago my stats was like this

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  • #70,495
  • Aug 3, 2010 4:55pm Aug 3, 2010 4:55pm
Quoting ppfx
well im experimenting something with one of my demo accounts. From the screenshot below you can see that since april 27th i only had 1 losing trade. I know that my account didnt grow much but thats because i didnt cacth a runner yet. I would catch it once or twice, but because i moved my stops to BE early i was taken out. And also the trade i posted above would also help me gain a percent or two
Hey that looks cool!
If you protect your capital, runners will happen!
  • #70,496
  • Aug 3, 2010 5:07pm Aug 3, 2010 5:07pm
Quoting ppfx
well im experimenting something with one of my demo accounts. From the screenshot below you can see that since april 27th i only had 1 losing trade. I know that my account didnt grow much but thats because i didnt cacth a runner yet. I would catch it once or twice, but because i moved my stops to BE early i was taken out. And also the trade i posted above would also help me gain a percent or two
slow and steady bud! Most people that says -10 every month
  • #70,497
  • Aug 3, 2010 5:14pm Aug 3, 2010 5:14pm
someone in the chat asked me my general view of gbp/usd

We are approaching the 1.6 and it might look to take a breather. Strong support 61.8 as well. It could also temporarily pause there then push through and pullback and it turn to support again. I am open to both scenarios


Mike
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  • #70,498
  • Aug 3, 2010 7:29pm Aug 3, 2010 7:29pm
Quoting Adilius07
Well maybe this one is going to be my first short stock trade (demo of course)
-IPB
-BRN
-2Top
-Some room to FTA
Ad, Which trading software/broker is this ?

Edit: Saw your other post. You said Finviz, right ? Can we trade also from this site (Demo) ?
  • #70,499
  • Aug 3, 2010 7:39pm Aug 3, 2010 7:39pm
Quoting cprao
Ad, Which trading software/broker is this ?
TD Ameritrade implementation of the thinkorswim package.

As endorsed by ADA Jack McCoy.
When you have to shoot, shoot. Dont talk.
  • #70,500
  • Aug 3, 2010 9:04pm Aug 3, 2010 9:04pm
Quoting xmzhang
Hey Jarroo,
I also noticed on my 4H Guppy chart a bearish divergence of price and MACD, which was confirmed by a DBHLC. But right after the DBHLC price made a green bar engulfing the previous DBHLC, so now we see a BuOB after that price dropped. Would you have taken the trade on the DBHLC ?

May the force be with you,
I am not seeing your DBHLC nor your BUOB on the 4 hour Guppy.

Gotta chart ?
Indicators show the past. Price Action "Indicates" the future.
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