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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

  • #73,221
  • Aug 29, 2010 5:15pm Aug 29, 2010 5:15pm
Quoting mbqb11
The question is why would it be more logical? If your trade is based on a weekly bar and the look of the weekly, why make it more confusing and drop to the lower timeframe. Again if it seems logical to YOU and works for YOU, then that is ALL that matters.

But have you ever seen James post a chart and then drop down to show how to manage it ?
Yeah I think so, it all boils down to ones own preferances and what works the best for you, thanx.

May the force be with you.http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #73,222
  • Aug 29, 2010 5:17pm Aug 29, 2010 5:17pm
Quoting michal7
Maybe if someone is interested, I'm gonna share how my trading is going... I found interest in trading at the end of 2008... found j16 thread/method in november 2009... stutied a lot.....
man I love you guys, and you all make this so worth it man!
  • #73,223
  • Aug 29, 2010 5:34pm Aug 29, 2010 5:34pm
Quoting mbqb11
man I love you guys, and you all make this so worth it man!
I hope Mike, that some day you would say same words to me, lol....
  • #73,224
  • Aug 29, 2010 5:36pm Aug 29, 2010 5:36pm
Quoting Adilius07
I hope Mike, that some day you would say same words to me, lol....
that was a general comment to all those working hard at it. It can be a long road but you don't have to kill yourself while getting there slowly. All about taking things slow and working at getting better. Like anything else it doesn't happen over night

  • #73,225
  • Aug 29, 2010 5:52pm Aug 29, 2010 5:52pm
Quoting mbqb11
that was a general comment to all those working hard at it. It can be a long road but you don't have to kill yourself while getting there slowly. All about taking things slow and working at getting better. Like anything else it doesn't happen over night

You're way too helpful and generous all the time. I'm thinkin' someones been spiking your breakfast cereal with some sort of happy drug.

  • #73,226
  • Aug 29, 2010 6:07pm Aug 29, 2010 6:07pm
Quoting Ace284
You're way too helpful and generous all the time. I'm thinkin' someones been spiking your breakfast cereal with some sort of happy drug.

lololol, i gave that up in college
  • #73,227
  • Aug 29, 2010 7:14pm Aug 29, 2010 7:14pm
Quoting michal7
Maybe if someone is interested, I'm gonna share how my trading is going... I found interest in trading at the end of 2008... found j16 thread/method in november 2009... stutied a lot.....
Wow!

All beginners out there, this is precisely what you need to be doing - searching for consistency with realistic targets and a strong control over the "get rich quick thoughts" so you don't end up taking 19 trades a week including 16 loosers, unlike Micheal here.

Great job bud!

g.
I believe . . .
  • #73,228
  • Aug 29, 2010 7:56pm Aug 29, 2010 7:56pm
Quoting mbqb11
those who like retracement entries, how about a buy around 85 /84.90 area and a stop under the two lows? Something like a 40 pt stop for a potential HUGE move up?
I like this one too. If you notice closer, that area could also serve as a retest of the daily TL breakout. In that case, it would really be very appealing. Nice to see your target the same as mine btw, I guess I am getting a little better
  • #73,229
  • Aug 29, 2010 8:15pm Aug 29, 2010 8:15pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting packhorse
I hope so Mike......it's the trade I have just opened.

Glynn
Packhorse, what did you set your stop loss to and why? I have not traded on the weekly, am a bit nervous about the big range. Thanks.
  • #73,230
  • Aug 29, 2010 8:28pm Aug 29, 2010 8:28pm
Quoting Adilius07
here

Great post Nuke.

I often find contradicting reasons to keep me out of a trade.
  • #73,231
  • Aug 29, 2010 8:35pm Aug 29, 2010 8:35pm
Quoting packhorse
My order for USD/JPY Long has just opened. I have, until now, only taken Daily Pinbar trades. This is my first Weekly PB.
My target/limit order is the 87.17 monthly pivot.
I will let you know how I get on. Keep your fingers crossed for me.

Packhorse


You watching the FTA at 85.86?
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  • #73,232
  • Edited 9:44pm Aug 29, 2010 8:36pm | Edited 9:44pm
Quoting mbqb11
lololol, i gave that up in college
LOL, nice

Thanks Ghous for the vouch!! Getting a vouch from you an Jarroo on the same day, thanks guys its an honor.

Quoting Ace284
Thanks Jim, I appreciate your insights. You definitely right, the bullish pressure is clearly there and has been there since the open for the week. As for the area acting as support, I'm going to wait for a while and analyze PA. I'm waiting for a retest. Will only take the trade is there is a break of bullish PA at the support.



I enjoyed that video! Good explanation man.



It hasn't confirmed anything yet. I'm still waiting for the low of the 4H bar to break like I said on the chart.
Quoting jarroo
Your analysis was dead on the Aud/Cad we just needed a PA trigger to complete the picture. To bad it happened over the weekend.


Here's what the bearish PA looked like over the weekend on the Hourly, a big Pin Bar looking BEOB . we just didn't see it . . .just kidding too bad it didn't happen on Monday.
Hey Jim,

I made a video on the weekend to re cap how I traded the AUDCAD last week. I'm debating as to whether I should post it here because it doesn't have a lot to do with traditional James16 Setups. I does have a lot to do with PPZ, fine tuning an entry and risk:reward.

I know some senior members here don't pay attention to risk:reward ratios which is fine in the context of James16 setups (where you look for high percentage setups) This allows you to risk a little bit more than you can gain.

For the context of the strategy in the video, risk:reward is key because there tends to be a lower win percentage. A few of you guys liked the first video I made "Forex USDCAD Hedge Trade Setup" and this new video is quite similar to that.

Jim, since you and I were talking about this quite a bit last week I thought I'd just post it anway.

Inserted Video


Enjoy
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  • #73,233
  • Aug 29, 2010 8:40pm Aug 29, 2010 8:40pm
Quoting xmzhang
Hey ad, I seem to have the same problem. For instance if I see a valid PA on the daily, I like to switch to a lower TF (ie. 1H TF) to optimize my entry as I explained earlier. But when I switch to a lower TF I seem to see much more PPZ's, which I didn't see on the daily. Then I think by myself, how do manage daily PA by only looking at the daily TF, as the senior members told me to do, without taking these lower TF PPZ's in consideration ? When I see all these lower TF PPZ's I start to hesitate, because I've learned that position, traffic, FTA's,...

Yeah, that is my problem, right now.
Over analysis paralysis, is what they call it
  • #73,234
  • Aug 29, 2010 9:03pm Aug 29, 2010 9:03pm
Quoting Pinbar
Packhorse


You watching the FTA at 85.86?
hi pb, can you explain how you have arrived at 85.86 as the FTA ? thanks
  • #73,235
  • Aug 29, 2010 9:17pm Aug 29, 2010 9:17pm
Quoting mbqb11
lololol, i gave that up in college
Hi Mike,

You mean you gave up Cereals in college.

Cheers,
Novice 198
  • #73,236
  • Edited 10:36pm Aug 29, 2010 9:40pm | Edited 10:36pm
Quoting roundrock
hi pb, can you explain how you have arrived at 85.86 as the FTA ? thanks
RR

Sure, here you go.

BOJ just announced some futile effort to curb the rising yen, obviously it is not considered enough of an effort.
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  • #73,237
  • Aug 29, 2010 10:48pm Aug 29, 2010 10:48pm
The more I am looking at this weekly UJ PB, the less I like it.

Seems to be a monthly pivot that is also valid on the weekly at 85.93.

I do hope it works out for P-horses sake.
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  • #73,238
  • Aug 29, 2010 11:00pm Aug 29, 2010 11:00pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting Pinbar
Packhorse

You watching the FTA at 85.86?
After this Pinbar post, it went up, tapped 85.88, and headed right back down. Calling an FTA like that and then seeing it happen is just awesome to see. Those who did not know the J16 thinking behind it would think it's magic. Well done.
  • #73,239
  • Aug 29, 2010 11:12pm Aug 29, 2010 11:12pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
I couldn't believe Mike (mbqb11) took Cereals right up to college.
Explains why he's good in BO trades.
I have seen the enemy, and it is me.
  • #73,240
  • Aug 29, 2010 11:25pm Aug 29, 2010 11:25pm
Quoting Pinbar
RR

Sure, here you go.

BOJ just announced some futile effort to curb the rising yen, obviously it is not considered enough of an effort.
Yes, right before FTA, traffic and the small bar - is a good enough reason to pass for me. Also trying to check the HTF (higher TF) like Jarroo showed - well looks like it is falling hard there.
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