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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

  • #82,261
  • Dec 11, 2010 10:05pm Dec 11, 2010 10:05pm
Quoting Autumm
Comments?

Pinbar rejected off 1.6 ppz. Confluence with 50 Fib level from previous minor swing up. Bar is a little small though. FTA is at black line. A strong break through could bring us to 1.58 where there is stronger support.
Hey Autumm, what's up.

Good analysis on your part with regards to round number and fta. I agree with you on those points.

Looking at the bar quality, however, it's a low quality setup. The bar doesn't protrude from surrounding bars. This goes along with the lack of space. I would define this setup as below average.

Bars that have close fta's can be tricky to trade because you can get caught with a hard rejection right after entry. Know that when you enter these type of trades and be prepared for the worst.

Not trying to be critical Autumm, just want you to see someone else's thought process.

-- Danny
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  • #82,262
  • Edited Dec 12, 2010 12:08am Dec 11, 2010 11:53pm | Edited Dec 12, 2010 12:08am
Quoting Guerrillawar
Hello all fellow price action traders. This is one of the only worthwhile threads on this forum. I know of some respectable traders that sometimes frequent this thread. There are quite a few things I agree with that this method advocates and some things I don't. Some things are definitely retail amateur hour, a professional would never manage risk in such a manner. Its much more in the realm of the analyst or "at home professional" rather than the risk taker at a instution. Any how dont want to be negative this is a good...



Then why did you "PISS" on the methodology, in your very first post?

That is what annoyed the hell out of me and why do you compare the people in this thread to Professional institutional risk takers, this thread is not an institution.

Sounds like you think you are some kind of hot shot, bragging about your floor trader friends, what is there for you to learn here?

EDIT:

Well, this sums it up perfectly.

"I want clever questions I didn't think of to ask CME traders."

So you want to appear smart to these people, by getting other people to think of your clever questions.
If you are not clever enough to think of the questions, what makes you think you will be clever enough to understand the answers?


It would have been clever of you to not piss on the methodology and the people in this thread on your first post, don't you think?


This guy knows some respectable traders that sometime visit this thread! What does that make Mike, Jarroo, Ghous & Sc who are in this thread daily, helping people like us?


What A F*****G Joke this guy is! I am really, really Pissed off!
  • #82,263
  • Dec 12, 2010 12:40am Dec 12, 2010 12:40am
Very nice thread but too big. Anywhere in here a summary.

Thanks
  • #82,264
  • Dec 12, 2010 12:46am Dec 12, 2010 12:46am
Quoting bluetrader
Hey Autumm, what's up.


Not trying to be critical Autumm, just want you to see someone else's thought process.

-- Danny
Danny,

That's fine with me. The Purpose of posting is definitely to see other people's train of thought and see if I have let out anything. I see the line u highlighted just below the pinbar as a very very minor fta. Reason being I always noticed the high/low of a pinbar always posing some kind of support. Will look to set entry slightly below that line and wait for price.
  • #82,265
  • Dec 12, 2010 1:46am Dec 12, 2010 1:46am
So where is this method actually explained? I have no idea what is going on in the charts...
What is any ocean but a multitude of drops?
  • #82,266
  • Edited 2:39am Dec 12, 2010 2:21am | Edited 2:39am
Quoting Pinbar
Well, this guy hardly came here in the spirit of learning anything, now did he.

I think this guy is trying to setup a commercial forum and trying to lay down the foundations. They enter an already proven thread, slag everyone and some people think they have something. They suck them in and then start a commercial forum. Hopefully, he will stick to trading his M5 charts and leave us alone.
+1

No offense, Guerillawar. But you remind me of the guy who claimed that he visited Jacko at home, became his apprentice and is now sharing this "great gift" with the community. After being mislead by these guys I've become very sceptical when it comes to posts and offers like yours. Especially when delivered with this "What a great chance this is for alll you guys!" tone. Besides, your offer has nothing to do with the J16 thread. So why not starting your own? Everyone interested could visit and post questions. This thread would stay what it was made for: the discussion of J16 related material. All the best - Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #82,267
  • Dec 12, 2010 2:33am Dec 12, 2010 2:33am
Quoting sf73
Very nice thread but too big. Anywhere in here a summary.

Thanks
Welcome, sf73. Have you read all the links in the first post? I think they are a good start. Another good place to learn is the guest material section at the PF. And you should really start to read this thread from the beginning. At least for a few hundred pages. Over time you will know which members get to the core of the matter and which posts are maybe not essential for your learning process. After that you could read all posts by these advanced traders like James16, mbqb11, Jarroo, Ghous, SeekingLight, SupremeChaos and so on (sure I forgot some). Have fun!
Thanks J16, Sam Seiden, Udine and Jacko
  • #82,268
  • Dec 12, 2010 2:33am Dec 12, 2010 2:33am
Just going through all my notes on James 16 videos and I found an interesting one on AUD/USD July 2008.

He was talking about boxes and how they make up our PPZ.
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  • #82,269
  • Dec 12, 2010 2:38am Dec 12, 2010 2:38am
Quoting sf73
Very nice thread but too big. Anywhere in here a summary.

Thanks
hi buddy, welcome to the thread This thread can be daunting but the first few hundred pages will give you a good start and put you in a position to understand the basic methodology we are learning here and take part.
the first page is the best place to start and follow all the linx on that page. There is some pdf files around here somewhere which have only the posts of Mike,Jarro and all the seniors. u might find them in the attachments??although i think they are better understood when read in context with the discussions takin place at the time
feel free to post questions along the way.
oh yeah and read every post from James16....gold!

jon
PATIENCE... DISCIPLINE
  • #82,270
  • Dec 12, 2010 2:48am Dec 12, 2010 2:48am
Quoting Guerrillawar
Wow, are you serious? Commercial forum thats comical. If you looked a bit closer I have been a member for years here, I didn't come out of thin air. The last thing I want to do is be on my computer any more than I already am no intentions other than help people who enjoy trading without indicators. If you don't want to ask any questions so be it. And I clearly stated I respect the work that is done here. Its nothing confusing or ambiguous I really do respect it. I believe that certain things discussed here are in the sphere of analysis and that...
hi Guerrillawar, could you share some of what you have learned at your time on the floor?? what surprised you the most when you first watched the pros trade?? how many use divergence?? how strong is the herd mentality??
cheers
jon
PATIENCE... DISCIPLINE
  • #82,271
  • Edited 7:22am Dec 12, 2010 4:10am | Edited 7:22am
Quoting g_j_hook@yah
...at the end of the day it wont make a difference to my trading though, a strong trigger bar at a good location with some space and my opinion becomes null and void!! lol
Well said. In the end this is what is important.
  • #82,272
  • Dec 12, 2010 5:43am Dec 12, 2010 5:43am
Quoting Pinbar
Then why did you "PISS" on the methodology, in your very first post?

That is what annoyed the hell out of me and why do you compare the...

Cool Down Pinbar,
I think that guy really wanted to help,but internally with some other motive.
Anyway he needs 4 vouches to start a thread in here.

Everyone in here knows this thread has took the stand against time,and all the people who came here did become a part of the family here,so we got nothing to prove or be offended of.
So calm down sir,and get to helping others.
Regards
Taz
  • #82,273
  • Dec 12, 2010 6:01am Dec 12, 2010 6:01am
Quoting 666Doom
Cool Down Pinbar,
I think that guy really wanted to help,but internally with some other motive.
Anyway he needs 4 vouches to start a thread in here.

Everyone in here knows this thread has took the stand against time,and all the people who came here did become a part of the family here,so we got nothing to prove or be offended of.
So calm down sir,and get to helping others.
Regards
Taz
Apparently not.

Wanted to help, by calling the method and those that teach it Amateur hour type traders.

http://www.forexfactory.com/showthread.php?t=219561
  • #82,274
  • Dec 12, 2010 6:35am Dec 12, 2010 6:35am
Quoting sf73
Very nice thread but too big. Anywhere in here a summary.

Thanks
nhi
For me the first page and this summary helped me a lot http://www.forexfactory.com/showpost...6&postcount=32 (Thanks bug for this summary)

And of course the big guys by asking asking them ;-)
  • #82,275
  • Dec 12, 2010 7:45am Dec 12, 2010 7:45am
My view on the G-U is somewhat bearish for the moment. The resistance zone for the moment is build up of the weekly PPZ @ 15840-ish, 61.8 fib @ 15860. For the bearish scenario to continue this resistance zone should hold. Price did slightly break the 15860 but price couldn't stay above. On the 4H-TF price is moving in a upward channel and has broken a declining TL, but this break hasn't been confirmed yet by a throwback. On the upside if price is able to break the 15860 and confirm this break by a pullback than it should be able to move up to 15900 (50%) and subsequently 16000 (61.8%). On the downside, since price is extending a bearish divergence, price should revisit the 15660 (the high of a small base) when the upward channel breaks. A break below 15660, price should be able to revisit the 15500.
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Pipcrawler
  • #82,276
  • Dec 12, 2010 8:47am Dec 12, 2010 8:47am
WIPG ? Any thoughts?
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  • #82,277
  • Dec 12, 2010 10:28am Dec 12, 2010 10:28am
Hi folks, i have a question for those who uses FxPro (or other) for charting and trades through Oanda. I'm looking at a weekly pin on EURCAD and as you see on the FxPro picture the distance from the break and the low of the pin is 326 pips and the distance from the break and the FTA is 125 pips. That is RR to FTA of 0.38.

But... if i check the highs and lows on Oanda to place my order, you can see that there is quite a bit of price difference, so on Oanda you get a RR to FTA of 0.25.

How do you guys handle this?

http://www.forexfactory.com/attachme...1&d=1292171171
http://www.forexfactory.com/attachme...1&d=1292171171
  • #82,278
  • Dec 12, 2010 10:45am Dec 12, 2010 10:45am
Quoting Pinbar
I take it that area is the TL?


Quoting jarroo
lol . .that quote was inspired from somewhere . .big guy.

Will the 1.5823 hold (on your chart) . .?
Quoting jarroo
Still no close below . .
Hey Pb.

That wasn't the trendline area I was talking about. It was previous Resistance that Price broke through.

When I asked, "Will Price hold at 1.5823?" I was looking for Price to keep closing above the 1.5823 to "hold" as Support, which it did . . . for awhile.

(charts)
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Indicators show the past. Price Action "Indicates" the future.
  • #82,279
  • Dec 12, 2010 11:19am Dec 12, 2010 11:19am
[quote=blaz86;4237457]Hi folks, i have a question for those who uses FxPro (or other) for charting and trades through Oanda. I'm looking at a weekly pin on EURCAD and as you see on the FxPro picture the distance from the break and the low of the pin is 326 pips and the distance from the break and the FTA is 125 pips. That is RR to FTA of 0.38.

How do you guys handle this?


Your answer is in your question. Chart on FXPro. Trade on Oanda = (remove all info except price)
  • #82,280
  • Dec 12, 2010 11:30am Dec 12, 2010 11:30am
Quoting Pinbar
Jarroo,

I looked back through my notes on those videos of J16 and found I had made a NB memo on that Long PB that had the close below the open.
It was EUR/USD Daily Jan 07 2007.

It is now clear why that was an ok trade.

Wow, making notes of important things & dates really help when watching videos.


EDIT:
I think it stuck in my memory because he said, (the close is outside the eye but it is ok to trade those folks)

This morning I am feeling much better and look forward to a full day of practicing eyeballing charts J16 style and finding...

Glad your feeling better, Pb.

Yes, you nailed it. It was the mutliple confluences that were present at that PPZ level or where Price turned from Resistance to Support.

It those confluences weren't present at that PPZ level, that weakly closed PB would have no relevance. It was the strength of its location (PPZ level with multiple supporting confluences) that made that trade possible.

Side note: Interesting how that 1.3300 is still playing a strong role today. . .
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Indicators show the past. Price Action "Indicates" the future.
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