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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

  • #76,061
  • Sep 30, 2010 1:09pm Sep 30, 2010 1:09pm
Quoting PA Trader
Do yourself a favour and just get price patterns by Pring, it's where james16 stole his ideas from.

http://www.pring.com/pricepattern.htm

James16 does acknowledge Martin Prings influence on his method.

Does Pring talk about Price targets or where Price is likely to go?

Does Pring talk about the importance of the location of these patterns and how they close?

Does Pring talk about confluences and their locational value ?

Does Pring talk about the trade management of these patterns?

I could go on and on . . .


Martin Pring on Price Patterns is a good read and a very good supplement to what James16 teaches.
Indicators show the past. Price Action "Indicates" the future.
  • #76,062
  • Sep 30, 2010 1:15pm Sep 30, 2010 1:15pm
you know i thought about this for a while and i think you might be right. lolol.

pring has been given credit by me personally for 5 years all thru this thread.

i have probably sold more books for him than any other single person on the net.

jim

Quoting jarroo
James16 does acknowledge Martin Prings influence on his method.

Does Pring talk about Price targets or where Price is likely to go?

Does Pring talk about the importance of the location of these patterns and how they close?

Does Pring talk about confluences and their locational value ?

Does Pring talk about the trade management of these patterns?

I could go on and on . . .


Martin Pring on Price Patterns is a good read and a very good supplement to what James teaches.
  • #76,063
  • Sep 30, 2010 1:17pm Sep 30, 2010 1:17pm
Quoting james16
you know i thought about this for a while and i think you might be right. lolol.

pring has been given credit by me personally for 5 years all thru this thread.

i have probably sold more books for him than any other single person on the net.

jim
I agree. Pring owes you an advertising check.
Indicators show the past. Price Action "Indicates" the future.
  • #76,064
  • Sep 30, 2010 1:25pm Sep 30, 2010 1:25pm
Quoting ppfx
Thanks Jim. The thing is that i have someone who opened my eyes a few days ago. I think you know who am i talking about.... thats right, the one im talking about is YOU

Ive read a lot about touch trading, ive gone through the majority of raczek's posts and i became familiar with his type of trading, but then the other day when you posted those charts it was like a revelation for me. It just hit me. I was like aha:
http://clow.ipsd.org/images/lmc/lmc_.../bulb_idea.gif

I then opened my charts and began looking for some...
Glad I could help, ppfx.

Go . . ppfx . .. go ..
Indicators show the past. Price Action "Indicates" the future.
  • #76,065
  • Sep 30, 2010 1:37pm Sep 30, 2010 1:37pm
Quoting james16
charts

Don't worry Jim . .the next one will go to the moon .. .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,066
  • Sep 30, 2010 1:57pm Sep 30, 2010 1:57pm
Quoting james16
you know i thought about this for a while and i think you might be right. lolol.

pring has been given credit by me personally for 5 years all thru this thread.

i have probably sold more books for him than any other single person on the net.

jim

OH NO---Now the naysayers will be saying you are being paid by Pring. Or James16 is an alias for Pring.
  • #76,067
  • Sep 30, 2010 1:58pm Sep 30, 2010 1:58pm
Hello
Looks like the cable may turn 1.57 to its support which was formerly the resistance and i expect it to rally up.
Guys please give your take on it.
Regards
Maarc
  • #76,068
  • Sep 30, 2010 2:03pm Sep 30, 2010 2:03pm
The bar is not closed yet but looks like its getting there to be a Pin bar...
Any one with me?
Attached Image (click to enlarge)
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Anything can happen - You never know
  • #76,069
  • Sep 30, 2010 2:08pm Sep 30, 2010 2:08pm
Quoting kwikwis
The bar is not closed yet but looks like its getting there to be a Pin bar...
Any one with me?
Attachment
Hey Kwi

Unless it can close very bullish I would be very skeptical right now this late in the day. Liquidity is going to die down and this might not be able to get legs under it. Be careful with these off a couple huge bear bars. If it does break it could get back to the box around 1.5750

Best
Mike
  • #76,070
  • Sep 30, 2010 2:22pm Sep 30, 2010 2:22pm
Quoting mbqb11
Hey Kwi

Unless it can close very bullish I would be very skeptical right now this late in the day. Liquidity is going to die down and this might not be able to get legs under it. Be careful with these off a couple huge bear bars. If it does break it could get back to the box around 1.5750

Best
Mike
Thank you Mike.
But what about BRN and trend continuation?
I target 1.5765 which is Fib Retracement
Anything can happen - You never know
  • #76,071
  • Sep 30, 2010 2:25pm Sep 30, 2010 2:25pm
Quoting kwikwis
Thank you Mike.
But what about BRN and trend continuation?
I target 1.5765 which is Fib Retracement
Hey Kwi

The BRN are 1.5 and 1.6 so this would be of a larger round number of 1.5700 but it would have to close above strong to be even considered. Gbp/usd is trapped and this can make for a very tough market to trade. Your target would be the underside of the top box which is good b/c one can expect a bounce off there

Again these weak pins with those bearish closes after strong bear moves always suggest weakness to me especially at this time of day.

Take care
Mike
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  • #76,072
  • Sep 30, 2010 2:29pm Sep 30, 2010 2:29pm
Hello Kwi
The 89 EMA is also looming below this pinbar( in formation).
So could be a nice trade.
  • #76,073
  • Sep 30, 2010 2:32pm Sep 30, 2010 2:32pm
Quoting john225
Feels good to see that some experience traders took the same trade

Looks like a fakkey
Okay sell order gets triggerd
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  • #76,074
  • Sep 30, 2010 2:50pm Sep 30, 2010 2:50pm
The yellow area looks like it has been a strong support area in the past with this bullish flag pattern dropping right onto it. Does anyone think it is a good place to look for PA to enter long? I know it is against the long term trade, but the strong up-move weeks back suggests that it is a possibility. It is also around 131 RN.

Attached Image (click to enlarge)
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The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #76,075
  • Sep 30, 2010 2:58pm Sep 30, 2010 2:58pm
Quoting james16
you know i thought about this for a while and i think you might be right. lolol.

pring has been given credit by me personally for 5 years all thru this thread.

i have probably sold more books for him than any other single person on the net.

jim
Oh my God! Don't tell me Pring is in on the "scam" too!
  • #76,076
  • Sep 30, 2010 3:05pm Sep 30, 2010 3:05pm
Quoting jimmynoodles
The yellow area looks like it has been a strong support area in the past with this bullish flag pattern dropping right onto it. Does anyone think it is a good place to look for PA to enter long? I know it is against the long term trade, but the strong up-move weeks back suggests that it is a possibility. It is also around 131 RN.


Yes, I do think its a good area to look for Bullish PA.

On the Weekly chart, we have a BUOB ("strong up-move weeks back") and Price is retracing to its previous bar High which is near the 131.00, PPZ level.

But the Weekly BUOB did not break which usually means the bullish momentum has been lost, allbeit temporaily. So I would not rule out the 131.00 or the 130.00 BRN for Price to regain its Support and continue its upward potential move.

Again with solid PA to show us the way.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,077
  • Sep 30, 2010 3:23pm Sep 30, 2010 3:23pm
Hey Guys
I have a query eating my mind. I know every round number is important and i have seen price stopping at every round number even if its temporary, but it does. So how do we know that the round number will break or not.

Please enlighten me with your thoughts.

Thanks In Advance
Maarc
  • #76,078
  • Sep 30, 2010 3:24pm Sep 30, 2010 3:24pm
Quoting jarroo
Again with solid PA to show us the way.
So you would drop to a lower timeframe to look for a PA at support/PPZ ?

As this is a weekly BUOB whats the lowest timeframe you would drop to for a PA signal ?
  • #76,079
  • Sep 30, 2010 3:38pm Sep 30, 2010 3:38pm
Pin bar bouncing off of the .7650 zone and not wanting to reach the 365 EMA.

Doesn't appear to be a lot of room on the downside, as it may stall out around the support of .7550.

I am demo trading only, so I may test it out with the expectation to take a few quick pips and move stop to B/E.

Then, if it does break below the support we may see a nice fall.
Attached Image
  • #76,080
  • Sep 30, 2010 3:41pm Sep 30, 2010 3:41pm
Quoting jarroo
Yes, I do think its a good area to look for Bullish PA.....
Thanks for reply Jarroo.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
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