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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

  • #80,941
  • Nov 26, 2010 5:45pm Nov 26, 2010 5:45pm
Yes, could be.
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  • #80,942
  • Nov 26, 2010 5:45pm Nov 26, 2010 5:45pm
Quoting jarroo
I like your thinking Atc. .

Very clear . .res to support . . support to res . . once Price broke through.
Thx Jim...couldn't have done it without YOU.....I just edited the Nzd/Usd chart >>i had the trend line wrong and some txt wrong ...litte tired...next week I will be here more often and then following week will be seeking the elusive white tail! BBL
  • #80,943
  • Nov 26, 2010 9:46pm Nov 26, 2010 9:46pm
Hi All,

I'm new to this thread although I have spent many weeks and months reading past posts, watching guest content on the J16 group site and doing general research and learning on trading in general. I have been demoing on and off for the past 6 months or so. I'd like to post some charts for a bit of a critique if anyone is willing. 2 weeks ago I began a new MT4 demo account which I will trial for 3 months. Here are a couple of my latest trades. The EURCHF was a successful PB trade. The AUSNZD is currently in progress. We'll see what happens on Monday morning. Any comments or criticisms would be great!
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Thanks

Viv
  • #80,944
  • Nov 26, 2010 10:56pm Nov 26, 2010 10:56pm
Quoting jarroo
Sorry I missed this post Adilius. I don't think it takes alot of time to find this levels, especially when you start on the higher time frames and look for the ones that stick out and are obvious.

Yes, I would like to see your diffeent approach.
Hey Jarroo, that is regarding that particular chart. Why in my view the price went down from there. Here is the chart I made with some examples.
I saw it works a lot of time. So this is a valid level for me to look for a setup too. Like minor pivotal s/r something like this.
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  • #80,945
  • Nov 26, 2010 11:13pm Nov 26, 2010 11:13pm
Quoting Adilius07
Hey Jarroo, that is regarding that particular chart. Why in my view the price went down from there. Here is the chart I made with some examples.
I saw it works a lot of time. So this is a valid level for me to look for a setup too. Like minor pivotal s/r something like this.

Interesting Adi...Can you show me that on a weekly chart with a bullish and bearish example?

Thanks
  • #80,946
  • Nov 26, 2010 11:14pm Nov 26, 2010 11:14pm
Quoting Pinbar
Interesting Adi...Can you show me that on a weekly chart with a bullish and bearish example?

Thanks
Hey Pinbar, yes, which pair, any?
  • #80,947
  • Nov 26, 2010 11:20pm Nov 26, 2010 11:20pm
Quoting Adilius07
Hey Pinbar, yes, which pair, any?

Yes, any is fine...thanks
  • #80,948
  • Nov 26, 2010 11:21pm Nov 26, 2010 11:21pm
Quoting Adilius07
Hey Pinbar, yes, which pair, any?
Here, the ones that stand out. Sometimes it would not even come close, sometimes it is spot on. Like everything else I guess. But I think knowing this, should help me.
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  • #80,949
  • Nov 26, 2010 11:24pm Nov 26, 2010 11:24pm
Quoting Adilius07
Here, the ones that stand out. Sometimes it would not even come close, sometimes it is spot on. Like everything else I guess. But I thinking knowing this, should help me.
4th arrow down would be and example of a setup I would be looking for. It is still below major resistance, but at "pivotal" resistance - so would be valid for me if the bar was a little prettier.
  • #80,950
  • Nov 26, 2010 11:25pm Nov 26, 2010 11:25pm
So, you need 5 bars to make up the fractal.
In other words a high with two lower lows on each side of it, to make a high and reverse for a low?
  • #80,951
  • Nov 26, 2010 11:29pm Nov 26, 2010 11:29pm
You seem to have your reservations about this in saying, sometimes it is spot on, sometimes it isn't.

Just wondering how you would rate it being on the ball or off the ball, as a percentage wise.
  • #80,952
  • Nov 26, 2010 11:32pm Nov 26, 2010 11:32pm
Quoting Pinbar
So, you need 5 bars to make up the fractal.
In other words a high with two lower lows on each side of it, to make a high and reverse for a low?
Yes exactly. 5 bars. I noticed also that if there is a fractal which consist of only 3 bars (one to left one to right) many times it is a FTA because it would be a 5 bar fractal on lower TF.

So If I see a 3 bar fractal on Weekly. I know it is a 5 bar fractal on Daily. So I can just pay attention to it without checking lower TF PA.
  • #80,953
  • Nov 26, 2010 11:36pm Nov 26, 2010 11:36pm
Quoting Pinbar
You seem to have your reservations about this in saying, sometimes it is spot on, sometimes it isn't.

Just wondering how you would rate it being on the ball or off the ball, as a percentage wise.
Exactly same % as for PPZ
  • #80,954
  • Nov 26, 2010 11:41pm Nov 26, 2010 11:41pm
Quoting Adilius07
Exactly same % as for PPZ
Yeah, if it enhances your J16 study, go for it, if it works against it, drop it like a hot brick.
  • #80,955
  • Nov 26, 2010 11:46pm Nov 26, 2010 11:46pm
Quoting Pinbar
Yeah, if it enhances your J16 study, go for it, if it works against it, drop it like a hot brick.
It is perfectly goes with J16 study I think. I watch James videos, Mike's example's and I apply some stuff about pivots I learned before and it makes perfect sense! The problem I have is overtrading, taking the setup which I would then be sorry to take even if it didn't move anywhere... I knew I should've not taken it but I did - this kind of problem...
  • #80,956
  • Nov 26, 2010 11:46pm Nov 26, 2010 11:46pm
Here's a Where is price going chart...This is the daily chart.

Don't be fooled by it being on the right of the chart, I moved it over there.

I will post the answer tomorrow to give people a chance.


No, up and down answers, please.....LoL
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  • #80,957
  • Edited Nov 27, 2010 12:07am Nov 26, 2010 11:53pm | Edited Nov 27, 2010 12:07am
Remember that quote in that famous book, "It was not my thinking that made me rich but, sitting on my hands"

That was a real cracker and that guy was half crazy.
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  • #80,958
  • Nov 27, 2010 12:03am Nov 27, 2010 12:03am
Quoting Pinbar
Here's a Where is price going chart...This is the daily chart.

Don't be fooled by it being on the right of the chart, I moved it over there.

I will post the answer tomorrow to give people a chance.


No, up and down answers, please.....LoL

Ok, since it is quiet I'll be the first one. Here is my take, tried to be creative here, lol. No way I'm gonna short it, it is going up, but where, I tried to "forecast"...
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  • #80,959
  • Nov 27, 2010 12:12am Nov 27, 2010 12:12am
Quoting Adilius07
Ok, since it is quiet I'll be the first one. Here is my take, tried to be creative here, lol. No way I'm gonna short it, it is going up, but where, I tried to "forecast"...

Yeah, it is quiet now after Jarroo's roll this morning.
Man, he was flying.

It is times like this, I like to watch naked charts and just drag a single line around eyeballing things, just trying to build up chart time and see the real deal.
  • #80,960
  • Nov 27, 2010 2:23am Nov 27, 2010 2:23am
Quoting Pinbar
Remember that quote in that famous book, "It was not my thinking that made me rich but, sitting on my hands"

That was a real cracker and that guy was half crazy.
Great one. This reminds me of the Jesse Livermore quote: "We get paid to wait."

Quoting Pinbar
Here's a Where is price going chart...This is the daily chart.

Don't be fooled by it being on the right of the chart, I moved it over there.

I will post the answer tomorrow to give people a chance.


No, up and down answers, please.....LoL
It did not close below the former high. So according to Jarroo we would ask: Will it act as support? It's very likely I think. I've marked three TAs, right in order of my expectation: The highest being the most likely for me and the lowest being the most unlikely.
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Thanks J16, Sam Seiden, Udine and Jacko
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