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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

  • #81,361
  • Dec 1, 2010 7:09pm Dec 1, 2010 7:09pm
Quoting fxgroup
Thanks Mike,it is an honour for me to be here.This dblhc could be part of monthly's pin retreacement,till above arrow,where I'm looking for short because of it's good location-ppz+cluster fibo+left pin's eye-.

Hi, and welcome FXGROUP.

This actually does not qualify as a DBLHC because, there are more than 2 pips difference in the lows.

That used to confuse me also.

Welcome again and wishing you a good journey.
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  • #81,362
  • Dec 1, 2010 7:45pm Dec 1, 2010 7:45pm
I didn't realize Aussie retail sales data would push this pair down as much as it did.

Nor did I realize how reliant I have become on my desktop computer...it shit the bed ....so I've been out of action
  • #81,363
  • Dec 1, 2010 8:05pm Dec 1, 2010 8:05pm
Quoting bluetrader
Hey lallous,

I place less importance on diagonal trendlines and don't use them to plot support/resistance. I prefer "side-to-side" support/resistance as James teaches.

Some of the things I like about this setup is that it's off an obvious price flip as well as the 110.00 round number. I don't consider 111.00 to be huge, otherwise I'd be plotting horizontal lines every 100 pips. So 110, 115, 120 are big (I believe these are Mike's RN's as well).

The pin bar itself has a nice long nose protruding through the price flip and round number and the...
I like the 111.50 to be the FTA, if this trade triggers !!
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #81,364
  • Dec 1, 2010 8:43pm Dec 1, 2010 8:43pm
Quoting Atc
I didn't realize Aussie retail sales data would push this pair down as much as it did.

Nor did I realize how reliant I have become on my desktop computer...it shit the bed ....so I've been out of action
Sorry about your desktop, but I am not sure what you are talking about with the Aussies.

The AUDUSD, AUDJPY both had Daily BUOB that have currently retraced slightly into the BUOB.
  • #81,365
  • Dec 1, 2010 8:55pm Dec 1, 2010 8:55pm
Quoting unlv_tj
Sorry about your desktop, but I am not sure what you are talking about with the Aussies.

The AUDUSD, AUDJPY both had Daily BUOB that have currently retraced slightly into the BUOB.
If one checks the 5 min tf you will see the the news effect i believe.
  • #81,366
  • Dec 1, 2010 9:32pm Dec 1, 2010 9:32pm
Quoting Atc
If one checks the 5 min tf you will see the the news effect i believe.
Here you go.
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  • #81,367
  • Dec 2, 2010 12:47am Dec 2, 2010 12:47am
Quoting mbqb11
That is confluence in my eyes , Momentum change, bar size, Space etc Confluence is just multiple factors. Factors are what we define as the trader(which varies)

Mike
I see. Thanks
  • #81,368
  • Dec 2, 2010 12:58am Dec 2, 2010 12:58am
Quoting xmzhang
Not only him, a lot of the other guys who used to post here when I joined this thread in august seem to have stopped visiting this thread, maybe they all have become succesfull traders now thanx to this thread

Yeah I guess some of them just move on . .but I think a lot of them lurk in the background.
Indicators show the past. Price Action "Indicates" the future.
  • #81,369
  • Dec 2, 2010 1:02am Dec 2, 2010 1:02am
Quoting bluetrader
Hey lallous,

I place less importance on diagonal trendlines and don't use them to plot support/resistance. I prefer "side-to-side" support/resistance as James teaches.

Some of the things I like about this setup is that it's off an obvious price flip as well as the 110.00 round number. I don't consider 111.00 to be huge, otherwise I'd be plotting horizontal lines every 100 pips. So 110, 115, 120 are big (I believe these are Mike's RN's as well).

The pin bar itself has a nice long nose protruding through the price flip and round number...
Hi Bluetrader,

Yes I agree with you on what you stated above.
I just wanted to reveal how price reacted previously to the 111 zone.

http://i.imgur.com/XvW1G.png

Nevertheless , I have that pinbar on my radar !
  • #81,370
  • Dec 2, 2010 1:20am Dec 2, 2010 1:20am
Quoting lallous
...
I just wanted to reveal how price reacted previously to the 111 zone.
Nevertheless , I have that pinbar on my radar !
no worries Sir, both of your posts have merits
  • #81,371
  • Dec 2, 2010 1:24am Dec 2, 2010 1:24am
Quoting 666Doom
Thanks Jarroo,
You are always rocking sir.

Quoting 666Doom
That breakout was good.
But sad part guys.
My TP was missed by 5 pips at the top,i closed positions for tiny profit.
But got a win,so i'm happy.
Hey Taz thanks.

Was your trade on the Hourly Aud/Usd a breakout of the highs? Sorry, I'm a bit lost on this setup.

I am enjoying your Touch Trader Method thread . . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,372
  • Dec 2, 2010 1:28am Dec 2, 2010 1:28am
Quoting lallous
Thanks Jarroo,
as time passes this fact is proving itself to me

It will continue to prove itself to you . .there's nothing like a strong confluenced location . .add a great bar confirmation and look out. ..
Indicators show the past. Price Action "Indicates" the future.
  • #81,373
  • Dec 2, 2010 1:37am Dec 2, 2010 1:37am
Quoting mbqb11
Yeah there are a few different phenomenons that I see over and over again around these BRNs after watching them so long. Love it

Look where price went no surprises right guys?

Mike

That poodle target was not a bad, low risk sell entry . . good for a nice amount of pips.

I guess I would rather have people looking at these poodles (in this case bullish poodle PB) as a possible selling opportunity rather than having people buy into them.

Just some thoughts.
Indicators show the past. Price Action "Indicates" the future.
  • #81,374
  • Dec 2, 2010 1:42am Dec 2, 2010 1:42am
Quoting jarroo
Yeah I guess some of them just move on . .but I think a lot of them lurk in the background.
Jim and X,

I used to wonder about this too.

But if my experience is typical the answer is that we still lurk and occasionally post.

Now I don't use the J16 method exclusively, but it does form a major part of my trading and I shall be eternally grateful to all the guys(I won't name them all bcos I'm bound to miss someone) on this thread for their help over the past few years, although they probly didn't realise they were helping at the time.

It's taken me about 5+ years to get here and it's bloody hard but I think I'm a slow learner lol. I just wish I had started sooner.

Anyway THANKS guys.
  • #81,375
  • Dec 2, 2010 1:43am Dec 2, 2010 1:43am
Quoting benji533
Loooooong time............Where is Mikeee

here's a chart for him

Hey ben . .good to see you.


Wait . .What?? No divergence on that chart?? . . . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,376
  • Dec 2, 2010 1:54am Dec 2, 2010 1:54am
Quoting xmzhang
I'am putting my money on the N-J, price found solid support as anticipated. On the 1H-TF we see multiple support confluences. If price closes on the daily as a BUOB (or DBLHC) I'll be looking for a long via a pullback entry as usual ......

There you go xmz . .


BUOB on the Daily with a retracement level Hourly BUOB.

Notice the retracement to the previous bar high on both the Daily and Hourly BUOBs. The 63.00 RN and Daily 365 ema was a nice added touch of confluence.
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Indicators show the past. Price Action "Indicates" the future.
  • #81,377
  • Dec 2, 2010 2:06am Dec 2, 2010 2:06am
Quoting jarroo
There you go xmz . .


BUOB on the Daily with a retracement level Hourly BUOB.

Notice the retracement to the previous bar high on both the Daily and Hourly BUOBs. The 63.00 RN and Daily 365 ema was a nice added touch of confluence.
I'm in this one as of 62.90

Hopefully I'll be at BE by the time it's NFP as I'd like this one to have some legs
Anything can happen.
  • #81,378
  • Edited 2:28am Dec 2, 2010 2:12am | Edited 2:28am
Quoting stewrigh
Jim and X,

I used to wonder about this too.

But if my experience is typical the answer is that we still lurk and occasionally post.

Now I don't use the J16 method exclusively, but it does form a major part of my trading and I shall be eternally grateful to all the guys(I won't name them all bcos I'm bound to miss someone) on this thread for their help over the past few years, although they probly didn't realise they were helping at the time.

It's taken me about 5+ years to get here and it's bloody hard but I think I'm a slow learner lol....
Great post stewrigh . . .we know you're out there . . . .it's go to see guys still looking in now and then, either to post a chart or just to say "Hey".

All good things, my friend.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #81,379
  • Dec 2, 2010 2:17am Dec 2, 2010 2:17am
Quoting ddinnov
I'm in this one as of 62.90

Hopefully I'll be at BE by the time it's NFP as I'd like this one to have some legs

Previous bar high entry on that one ddin?
Indicators show the past. Price Action "Indicates" the future.
  • #81,380
  • Dec 2, 2010 2:27am Dec 2, 2010 2:27am
Price is testing Support of the 1.0000 on the Usd/Chf. . .putting up a pretty good fight.
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Indicators show the past. Price Action "Indicates" the future.
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