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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

  • #81,881
  • Dec 8, 2010 5:28am Dec 8, 2010 5:28am
Quoting xmzhang
I'am already long off a 1H-PB @ 13200. FTA @ 13250 minor PPZ, target would be the high of that weekly PB, we also have to deal with the 13300. SL a few pips below the 1H-PB @ 13175.
You are eh..LoL

I like this OB at the 50, nice close.
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  • #81,882
  • Dec 8, 2010 5:35am Dec 8, 2010 5:35am
thats a great question pin. in my early years i would get screwed up when i looked at anything other than what i was trading. if you look close enough either way you can almost always find something that contradicts your main trading time frame. it killed me personally but i know a ton of people that couldnt trade without drilling up or down. i guess you really dont know what type you are until you have done it for an extended period of time,

take the 5 minute charts i just posted. when i sat down earlier tonight wild horses could not have drug me to look at a 15, 30 or 1 hour chart.

honestly i know many of you get tired of hearing this but once again (at least for me) it comes down to account size. im up a little over 17,000 for tonight. now dont get me wrong thats a wonderful trading session for me but i guaruntee you if i was trading with a small account the whole thought process would have been different. price moved well tonight in both directions. thats what i need. i want movement. if things are going sideways for a couple of hours and ive lost a coupl of trades for 10 pips or so due to no movement i go to bed. i dont fight it.

i sit for days waiting for these nights. i could have 10 bad days in a row (i wont ) and not lose what i made tonight. its very common for me to set a 30 pip stop initially and get out at an 8 pip loss because it didnt move like i expected.

after 30 years i have a great feel for what should happen.

im not always right but small losses and breakevens are winners in my head from a psych standpoint.



Quoting Pinbar
James16..Any chance you could answer this question?

In the videos I watched you trading only the daily and not even looking at the higher TF. I realize, you have been to the gates of hell and back and have done this a very long time, I understand you know where the monthly and weekly flips are looking only at the daily.

But, do you really trade like that or is that just to keep the videos simple for us?

Thanks in advance.
  • #81,883
  • Dec 8, 2010 5:44am Dec 8, 2010 5:44am
i owe a bunch of you some pm replies.

will get to those tomorrow.

jim
  • #81,884
  • Dec 8, 2010 5:48am Dec 8, 2010 5:48am
many thanks James.

Yes, I can tell through the tone of your voice, you have done this with Guts, blood, sweat and probably more than a few tears.

Yes, that is an interesting point you make...I always get confused watching 25 pairs and flipping TF. That is the time I watch your videos and see how simple it really should be. I really feel i can do it when I watch your vids and it keeps me striving to keep it simple.

Thanks for a great thread and even greater people.
  • #81,885
  • Dec 8, 2010 5:52am Dec 8, 2010 5:52am
Quoting james16
i owe a bunch of you some pm replies.
will get to those tomorrow.
..
Sir Jim,
advanced happy holidays to you & your whole thread
  • #81,886
  • Dec 8, 2010 5:53am Dec 8, 2010 5:53am
bottom line is this.

if what your doing is not simple, repeatable, refinable and in my humble opinion non indicator based then its a long brutal road.

you can have a method that meets that criteria and still bomb if you dont use common sense and a business like approach.

most people dont have a snow balls chance in hell when trading with an amount of money per pip that "causes" them to act stupid because it means nothing to them.

its when you have the method combined with experience and an account size that only needs a few good trades a month to make you nearly pass out that this business begins to work for some people.

i know its hard for many of you.

been there. it almost killed me and im serious.

its why i started this thread all those years ago.

Quoting james16
thats a great question pin. in my early years i would get screwed up when i looked at anything other than what i was trading. if you look close enough either way you can almost always find something that contradicts your main trading time frame. it killed me personally but i know a ton of people that couldnt trade without drilling up or down. i guess you really dont know what type you are until you have done it for an extended period of time,

take the 5 minute charts i just posted. when i sat down earlier tonight wild horses could not have drug...
  • #81,887
  • Dec 8, 2010 5:55am Dec 8, 2010 5:55am
thank you my friend.

Quoting Pinbar
many thanks James.

Yes, I can tell through the tone of your voice, you have done this with Guts, blood, sweat and probably more than a few tears.

Yes, that is an interesting point you make...I always get confused watching 25 pairs and flipping TF. That is the time I watch your videos and see how simple it really should be. I really feel i can do it when I watch your vids and it keeps me striving to keep it simple.

Thanks for a great thread and even greater people.
  • #81,888
  • Dec 8, 2010 5:56am Dec 8, 2010 5:56am
ahh my old buddy supreme.

an honor to see you.

suns coming up and im off to bed.

i will be back tomorrow night.

jim

Quoting supremeChaos
Sir Jim,
advanced happy holidays to you & your whole thread
  • #81,889
  • Dec 8, 2010 5:59am Dec 8, 2010 5:59am
Not that hard for me really, I'd rather be 0.5% up than 10% down. LoL

That is how I think of it, not in monetary terms.
  • #81,890
  • Dec 8, 2010 6:26am Dec 8, 2010 6:26am
Oh boy ! Look at all those epic J16 posts, cant wait to get home and read those juicy charts

Nice to see you back on the thread
  • #81,891
  • Dec 8, 2010 6:38am Dec 8, 2010 6:38am
Quoting james16
ahh my old buddy supreme.

an honor to see you.

suns coming up and im off to bed.

i will be back tomorrow night.

jim
What the heck bud get some sleep! I am just waking up and this guys just going to bed. Texan for ya
  • #81,892
  • Dec 8, 2010 6:41am Dec 8, 2010 6:41am
Great to see a post from the master himself! What a great thread this is Sir Jim! Glad to have found it!

thanks,

kal
  • #81,893
  • Dec 8, 2010 6:44am Dec 8, 2010 6:44am
Quoting mbqb11
What the heck bud get some sleep! I am just waking up and this guys just going to bed. Texan for ya

Got the answer to that question, at LaaaaaaaaaaaaaaaaaaasT.

Very interesting answer actually.
  • #81,894
  • Dec 8, 2010 6:52am Dec 8, 2010 6:52am
Quoting Pinbar
The PB tip stopped right at the weekly PPZ right above the 0.8500 BRN
Hi PB Long time no chat
I had my PPZ drawn at 0.8460 - i remembered you said you didn't look at what price you drew PPZ at - just sort of eyeball it. That's why i didn't draw PPZ at 0.8500 - Now was i wrong drawing it at that level or did you really mean you draw PPZ as you see it on the chart (without looking at what price ) but you also pay attention to see if PA bar closed above the nearest BRN?

Your insight is always most invaluable
Thanks
  • #81,895
  • Dec 8, 2010 6:57am Dec 8, 2010 6:57am
Quoting Fxnumen
Hi there,

I want to thank you all for this lovely thread especially the senior ones. Please keep the fire burning.

I have a question. In the attached chart is the marked BEOB an A+ trade for you guys or something you just demo instead of live-trading....
Hey Numen

The fire is burning strong welcome bud

Your bar is just barely a beob with the lower low then the previous bar. Notice though if you go and zoom out your chart a bit more you can get a better picture of this bar. It is very small coming off those recent Bullish moves(blue boxes). It sort of has a "pause" look rather then any real look of a reversal. This is important. It really lacks bar size and confluence for a reason to get back in short. This is a pass in my book, much better trades to come especially on a lower timeframe like the 4hr

Hope that helps and again welcome

Mike
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  • #81,896
  • Dec 8, 2010 7:03am Dec 8, 2010 7:03am
Quoting Be Cool
Hi PB Long time no chat
I had my PPZ drawn at 0.8460 - i remembered you said you didn't look at what price you drew PPZ at - just sort of eyeball it. That's why i didn't draw PPZ at 0.8500 - Now was i wrong drawing it at that level or did you really mean you draw PPZ as you see it on the chart (without looking at what price ) but you also pay attention to see if PA bar closed above the nearest BRN?

Your insight is always most invaluable
Thanks

I eyeball them and I also draw the major weekly PPZ.

yeah, sure, you always want to see a PA setup close above a BRN.

Don't forget, I am also a newbie, you are better off reading what Jarroo, Mike, Suprerme & Ghous post for the advanced stuff.
  • #81,897
  • Dec 8, 2010 7:28am Dec 8, 2010 7:28am
Hi guys

Just taking in material on this great thread and having a go at ppz s on weekly TF's. Trying to plot them near to the current price action so that they come into play when looking for potential trades. Anyone care to comment on this chart's ppz? Maybe the zones are a bit too wide?

Thanks,

Kal
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  • #81,898
  • Dec 8, 2010 7:28am Dec 8, 2010 7:28am
Quoting 666Doom
You are fighting a heavy fall BC.
More to it you are going against PPZ.
Take a look.
Ask again if unclear.
Regards
Taz
Hi Taz,
Seems like everybody draws PPZ differently. This has been my difficulty learning PA. I had mine at 0.8460, PinBar at 0.85 and yours is a bit higher. I can see that there's a PPZ but am having problem determining the exact level.
What's your approach if i may ask?
Thanks
  • #81,899
  • Dec 8, 2010 7:52am Dec 8, 2010 7:52am
Quoting Be Cool
Hi Taz,
Seems like everybody draws PPZ differently. This has been my difficulty learning PA. I had mine at 0.8460, PinBar at 0.85 and yours is a bit higher. I can see that there's a PPZ but am having problem determining the exact level.
What's your approach if i may ask?
Thanks
Here's my 2 cents. I think you guys are really all looking at the same major ppz zone but different minor ones within it.. There is a good bit of consolidation around 8500 and this is one of those areas where I don't think you're going to see a well defined price line. On the weekly chart you could argue you almost have one major 200 pip zone centered around 8500.

I'm a newbie as well so take my thoughts with a grain of salt.
  • #81,900
  • Dec 8, 2010 8:10am Dec 8, 2010 8:10am
Quoting Be Cool
Hi Taz,
Seems like everybody draws PPZ differently. This has been my difficulty learning PA. I had mine at 0.8460, PinBar at 0.85 and yours is a bit higher. I can see that there's a PPZ but am having problem determining the exact level.
What's your approach if i may ask?
Thanks
Hi Be Cool ,

First of all the pinbar didnt break so by the rules it is not a failed pinbar.
If you look at the daily chart you'll see a series of lower highs and lower lows with last highs at the 0.8500 area which is working as a strong res and break above it would be a trigger for the pinbar. Hope it helps. Cheers
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