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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

  • #79,541
  • Nov 8, 2010 12:41pm Nov 8, 2010 12:41pm
Quoting rumpfunk
ok great thanks,

So you would say everything I need is here without having to join the seperate site?
The additional site has more stuff /info/webinars/forums/videos

But there is MORE then enough contained in this thread to turn someone profitable or given a chance to make it in this business.

Enjoy!
Mike
  • #79,542
  • Nov 8, 2010 1:37pm Nov 8, 2010 1:37pm
First off, happy b-day to Jimbo.... Don't get too drunk, old man... Hangover+arthritis is not a good combo!

Here is my only open trade currently.

AUDCHF daily bullish pin off the PPZ.

I'm going to move my S/L under todays PA bar (the 'X' on the chart) at the US market close.

Trading into some chop here, but overall seems like a manageable trade.
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Many choose unhappiness over uncertainty.
  • #79,543
  • Nov 8, 2010 1:40pm Nov 8, 2010 1:40pm
Happy Birthday James

Thanks for your great help that you invest your free time to help people to be better in trading there aren´t so many good guys like you
  • #79,544
  • Nov 8, 2010 1:49pm Nov 8, 2010 1:49pm
Quoting rumpfunk
ok great thanks,

So you would say everything I need is here without having to join the seperate site?

hey rump

before 10 months ago i was feeling like you. i didn't know where to start.i tried to learn this stuff from here but one need too much time b/c here is tooooooo much noise.i wanted to learn to trade with a solid method and decided to join the pf after 4 days struggling here to learn. you can learn much much faster b/c everybody in the group is trying to help.it is really a great feeling to know that you are not alone in this wild forex jungle.

i am very proud to be a J16 member and it is worth to learn this stuff,b/c you are stopping to loose
after 3-4 months i begin to trade with great confidence and i am very happy that i decided to join the pf.

best for you my friend...
  • #79,545
  • Nov 8, 2010 1:58pm Nov 8, 2010 1:58pm
Quoting unlv_tj
Is anyone short the EURGBP off the BEOB from 2 weeks ago?

I am in....
Hey, I am short too E/G since last week break, my original stop was at 8830 and the price got till 8818 so i survived the heat proper position sizing helped
now i moved stop to 8730...8700 looks like resistance
targets are like yours at 8530 i will exit half and look for more clues in PA.
We'll see what will happen
Anything can happen - You never know
  • #79,546
  • Nov 8, 2010 2:21pm Nov 8, 2010 2:21pm
Quoting unlv_tj
Is anyone short the EURGBP off the BEOB from 2 weeks ago?

I am in....
Hi,

Im still in it,

Took half at 86.10 (38.2% of the up wave) moved stop loss to 86.65 and let the rest ride, we´ve got resistance at 85.00, will keep an eye to see how price reacts.

As soon as we break the 86 level (if we do) and we are around 85.50 ill be moving my stop to 86.15, will be moving my stop loss as price keeps going.

Thats how im playing it.
Trade Smart
  • #79,547
  • Nov 8, 2010 3:29pm Nov 8, 2010 3:29pm
Thanks guys. I just think when the opportunity for a very long term trade (weekly) forms, we can discuss it here as it progresses.

The seniors here often say that management is the key, but it is discussed so little on this forum, or only discussed in hindsight (which is understandable many trades are done in a few hours or a day).

I think it his .8530, and I think I will hold my full stop until it gets there. If it continues to chop between .8700 and .8600 for a few weeks, I may just put up the white flag and get out at BE. But I believe this one is worth holding.
  • #79,548
  • Nov 8, 2010 4:04pm Nov 8, 2010 4:04pm
Quoting unlv_tj

I think it his .8530, and I think I will hold my full stop until it gets there. If it continues to chop between .8700 and .8600 for a few weeks, I may just put up the white flag and get out at BE. But I believe this one is worth holding.
It really looks promising because monthly PB got validated.
Anything can happen - You never know
  • #79,549
  • Nov 8, 2010 7:20pm Nov 8, 2010 7:20pm
Quoting jarroo
I chose the .7600 because the levels looked clearer in purple. . .surprising that it wasn't the .7500 BRN . .its a crazy pair.

Be Cool, you are right . . , the .7650 is a PPZ level I just see the .7600 as a stronger level, because of the muliple touches as Resistance it had. You can see today how the .7650 is acting as Resistance. . .
Hi Jaroo
I've been thinking about your chart since last week, when ghous and pinbar explain boxes. Now i know that price move from one boxes to the next. And when it breaks out of boxes and give PA that we want to trade. What was once the lower/upper boundary of boxes has flipped from sup/res to res/sup.

With this in mind, i assume you always look for retest once price breaks out of consolidation. Then you look for PA in the direction away from the box.
I also notice that price can retest right away after the break (A), or it can breaks and get carried away for several bars before retest(B).

Now my question is, would you take trade in situation like A where there seems to be not much space? Also it is at swing low

Please advise. Thanks alot
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  • #79,550
  • Nov 8, 2010 7:23pm Nov 8, 2010 7:23pm
Quoting unlv_tj
Thanks guys....

Hey U.


I closed the EG trade yesterday for a small profit.
The reason I closed it was that price was lingering around and the RN+365 EMA+ fibo confluence, does not appeal.
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  • #79,551
  • Nov 8, 2010 7:26pm Nov 8, 2010 7:26pm
Quoting Be Cool
Hi Jaroo
I've been thinking about your chart since last week, when ghous and pinbar explain boxes. Now i know that price move from one boxes to the next. And when it breaks out of boxes and give PA that we want to trade. What was once the lower/upper boundary of boxes has flipped from sup/res to res/sup.

With this in mind, i assume you always look for retest once price breaks out of consolidation. Then you look for PA in the direction away from the box.
I also notice that price can retest right away after the break (A), or it can breaks and...


Does it have any other confluence factors to support the trade?

Also, you can't consider taking a weekly bar, as it is only Tuesday and the bar has not closed yet.


Look at that bar on my feed. Looks more bullish to me.

Is that an old chart you posted, the weekly with the PB?
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  • #79,552
  • Nov 8, 2010 8:17pm Nov 8, 2010 8:17pm
Quoting Pinbar
Does it have any other confluence factors to support the trade?

Also, you can't consider taking a weekly bar, as it is only Tuesday and the bar has not closed yet.


Look at that bar on my feed. Looks more bullish to me.

Is that an old chart you posted, the weekly with the PB?
Hi PB

I am not contemplating about taking this trade. I am asking about the location of PA when it retest suppose there is some confluence. Right after the break OR after many bars.

Yes, that was as old chart -maybe not a good example.
I mean something like this (for location B):
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  • #79,553
  • Nov 8, 2010 8:22pm Nov 8, 2010 8:22pm
Quoting Be Cool
Hi PB

I am not contemplating about taking this trade. I am asking about the location of PA when it retest suppose there is some confluence. Right after the break OR after many bars.

Yes, that was as old chart -maybe not a good example.
I mean something like this (for location B):


I see....Yes, that chart by Jarroo is something to fix in our heads on a permanent basis.

Good job.
  • #79,554
  • Nov 8, 2010 8:33pm Nov 8, 2010 8:33pm
Quoting pwellsau
Hi all,

Does anyone have any thoughts on this potential trade? GBP/DKK Weekly bullish bar at swing low, through BRN.

http://i845.photobucket.com/albums/a...k-31-10-10.gif

My second question is a bit off topic but any help or where to look would be appreciated....
Hey Paul,

How's this going for you so far?
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I believe . . .
  • #79,555
  • Nov 8, 2010 8:34pm Nov 8, 2010 8:34pm
Quoting Pipzilla
Happy Birthday James.And thank you for sharing all this trading

knowledge with us.
Wowoo...

It was the big guy's Birthday yesterday!

Happy half century Jim.

g.
I believe . . .
  • #79,556
  • Nov 8, 2010 8:50pm Nov 8, 2010 8:50pm
Quoting Pinbar
Thanks Jarroo, I had a good teacher..YOU!

Things are starting to come together, bit by bit.

I had some good teachers too . .

bit by bit . . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,557
  • Nov 8, 2010 8:57pm Nov 8, 2010 8:57pm
Can't find any good setup on daily today. EURNZD -just PPZ and IB
Doesn't look convincing enough
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  • #79,558
  • Nov 8, 2010 9:13pm Nov 8, 2010 9:13pm
Quoting Be Cool
Can't find any good setup on daily today. EURNZD -just PPZ and IB
Doesn't look convincing enough
one of the biggest thing b/w the winners and losers. Sitting on your hands

Easier said then done, but crucial


Mike
  • #79,559
  • Nov 8, 2010 9:20pm Nov 8, 2010 9:20pm
Quoting unlv_tj
Is anyone short the EURGBP off the BEOB from 2 weeks ago?

I am in. I considered playing this like Jarroo, small stop loss, and a quick target profit and look for it to run.

So far, if I had played this like Jarroo, I would be at BE. I probably would have taken profit right above the .8600 round number at .8630 or .8625.

Instead, my stop is hidden above .8800 at .8825 and my 1st TP is .8530. At this point I will take enough off the table I make money regardless and my final TP is at .8230.

Just thought it might be interesting to discuss the...
That is why high quality setups can be played in many different ways and the Weekly BEOB on the Eur/Gbp is one of them in my book.

The strong Weekly PPZ level (.8650) that this BEOB was trading into keep me out of a hard break trade. But you can see, an entry just below this level would have worked just fine . . .straight out of James16's "This is Critical".

"A" setups like this, can be managed just as discussed throughout this Thread . . . stop loss above/below the setup. The trick is . . how are you going to manage it after it hits its target(s)?

Knowing that we have a nice BEOB on the Weekly, the Daily offered a nice opportunity . .(daily chart)
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Indicators show the past. Price Action "Indicates" the future.
  • #79,560
  • Nov 8, 2010 9:31pm Nov 8, 2010 9:31pm
AUD/JPY looks like it is around an interesting area.
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