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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

  • #82,561
  • Dec 15, 2010 9:05am Dec 15, 2010 9:05am
Quoting mbqb11
Hey Jon

I personally wouldn't take such a tiny buob trading into the BRN. I go for a lot of the eye sores

Best
Mike
of course not, i should av known
PATIENCE... DISCIPLINE
  • #82,562
  • Dec 15, 2010 9:07am Dec 15, 2010 9:07am
Quoting aserbfx
and this one here , too...
i wish i would have taken this beautiful setup. but i have not. don't really know why not.
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meine augen sind die sterne
  • #82,563
  • Dec 15, 2010 9:13am Dec 15, 2010 9:13am
Hey Jon !!

Nice entries..

It depends on your trading style, as long as it works for you.. great .. im still finding my trading style.. slowly slowly

Quoting g_j_hook@yah
i was lucky enough to get a couple of nice entries not strictly J16 stuff but all the frame work is, i used 15 min pinish bars to time my entries.
im not using the channel formation personally it doesnt satisfy me technicaly,the only valid TL i have is the one on my chart, low of 8th and 13th
plan to keep the second on a tight leash and give my first entry a little room and see what happens. (no surprise whats stopping price right now!)

caught a nice price on gold also...

jon
Trade Smart
  • #82,564
  • Dec 15, 2010 9:18am Dec 15, 2010 9:18am
Quoting mbqb11
Hey Adi

IN terms of just a general statement....

Hi Mike:

This is a very important topic to me and I have asked this on the site before with no response, at least not that I was alerted to. In the 7 major currency pairs, how much is the minimum size where you can no longer merely enter and exit on buy and sell stop orders during U.S. and London market hours? I have been told anywhere from 70 standard lots to 600 standard lots assuming a 100,000 size standard lot by various brokers. I am surprised when people talk about 70 standard lots as to big for buy and sell stops because the 7 majors are supposed to be the most liquid markets in the world.
  • #82,565
  • Dec 15, 2010 9:25am Dec 15, 2010 9:25am
Quoting marxdhr
Hi Mike:

This is a very important topic to me and I have asked this on the site before with no response, at least not that I was alerted to....
hi marxdhr, if i understand you correctly, as far as i know there isnt a min. its more of a case of how fast you will get the order filled. and of course getting a good price through out the lots.

jon
PATIENCE... DISCIPLINE
  • #82,566
  • Dec 15, 2010 9:29am Dec 15, 2010 9:29am
Quoting Osman
Hey Jon !!

Nice entries..

It depends on your trading style, as long as it works for you.. great .. im still finding my trading style.. slowly slowly
cheers,
yeah me also,i got a bit lucky with those entries. i find too many reasons to trade sometimes,j16 material, candle sticks, price patterns, range trades, TLs...!!! still haven't refined the best yet. slowly gettin there though..
PATIENCE... DISCIPLINE
  • #82,567
  • Edited 10:32am Dec 15, 2010 9:39am | Edited 10:32am
Quoting Be Cool
Hi Os
Just curious, what made you disregard the small flip right under the BEOB that may acted as support? Maybe i went into paralysis mode, but it spooked me out from taking the trade.
Hey Cool,

Ive missed many trades because of near FTA, its taking time for me to get better at it.. im very picky and if I see a FTA near my setup i will just pass but the story helps us deciding which ones are worth taking.

First, I missed this trade.. i wished i took it..(I have to wake up earlier )

We are in a down trend, the size and close of the bar was really nice, it engulfed 10 previous bars not 2 or 3.. 10 !! . Price went below the 1.55, went up but couldn't close above the 1.5540 area went down and up again maybe to retest the area to see if they were still any buyers out there, and the beob showed the down power closing strong below the 1.55 BRN

The 1.5450 area you´re talking about is a valid s/r area, but the down trend, the engulfing+size+story made it a valid trade imo, could you get stopped ? yes.. did I know it was going to be such a big move ? no...

 

  1. Good bar size
  2. Strong close below 1.55 level
  3. Engulfing 10bars
  4. Downtrend
  5. 365 ema above
  6. Divergence


Trading is a probability business, I thought it was trade worth taking a shot at..... again I didn't take it and its easy to say its a good setup once already moved.

Im still learning so if any senior think im wrong with the explanation or wants to add something, please do so...

Hope it helps...

Os.

Trade Smart
  • #82,568
  • Dec 15, 2010 9:59am Dec 15, 2010 9:59am
Are these not DBLHC bars? Why is the stock not going up?

http://content.screencast.com/users/...57.18%20AM.png
What is any ocean but a multitude of drops?
  • #82,569
  • Edited 10:29am Dec 15, 2010 10:14am | Edited 10:29am
My new Guest videos are now up as well. The new include

Traffic vs space - the basics(posted here a lot but about time I got it up)
Aud/cad one hr beob, a live trade video
11-23-10 webinar excerpt

Sorry that took so long to update

Mike
  • #82,570
  • Dec 15, 2010 10:20am Dec 15, 2010 10:20am
Quoting marxdhr
Hi Mike:

This is a very important topic to me and I have asked this on the site before with no response, at least not that I was alerted to....
Hey Marx

I am no where close to swinging lines like that so I couldn't really give you a good answer here. One thing as liquid as these markets are there is still constantly a hunt for liquidity. Sounds crazy but it's true. I wouldn't even know how to give you a solid answer on that. So instead I'll link someone I greatly respect with much more knowledge on these topics

http://www.forexfactory.com/showpost...64&postcount=2
Sorry can't be of more help here
Mike
  • #82,571
  • Dec 15, 2010 10:22am Dec 15, 2010 10:22am
Quoting Xhale12
Are these not DBLHC bars? Why is the stock not going up?
Hey Xhale

Remember the bars themselves will not make prices necessarily do anything. It is the context in which they exist(location confluence, bar structure etc). Here for example in my view the lows are two far apart and I can't tell what timeframe or anything, but I don't see anything that jumps out to be getting long. Now they may indicate price wants to but that doesn't necessarily make it a high probability setup. Also remember setups are not valid till the highs/lows break.

Take care
Mike
  • #82,572
  • Dec 15, 2010 10:56am Dec 15, 2010 10:56am
I see we passed 10 million views.

Im honored and blessed to have so many friends.
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  • #82,573
  • Dec 15, 2010 11:02am Dec 15, 2010 11:02am
Quoting james16
I see we passed 10 million views.

Im honored and blessed to have so many friends.
Congrats James, you have clearly created a positive and unique environment on FF.
Measure twice, cut once
  • #82,574
  • Edited 11:35am Dec 15, 2010 11:15am | Edited 11:35am
Congratulations Mr James, You have made here a lot of good work and so many people like Jarroo, Mike, Ghous, .... whose charts and advices are so helpful.
  • #82,575
  • Dec 15, 2010 11:17am Dec 15, 2010 11:17am
im truly honored to have you say that.

thank you very much.

i dont like being in this commercial forum but im stuck so ive got to make the best of it.

people like you make it worth the effort.

Quoting aediaz1
Congrats James, you have clearly created a positive and unique environment on FF.
  • #82,576
  • Dec 15, 2010 11:23am Dec 15, 2010 11:23am
Quoting mbqb11
My new Guest videos are now up as well. The new include

Traffic vs space - the basics(posted here a lot but about time I got it up)
Aud/cad one hr beob, a live trade video
11-23-10 webinar excerpt

Sorry that took so long to update

Mike
Hey Mike,

Thanks a lot for the video updates. Really helps.

I have a question that came up while watching the webinar excerpt.
You said you cancelled the sell order because the BEOB didn't break on the next bar and this is a rule for you.

What about if you enter a trade, eventually adjust your SL reducing the risk and then price stalls for a few bars nor reaching TP or SL. Do you have any rule that makes you "kill" the trade?

Probably there is no straight forward answer but I decided to ask you anyway.

Thanks a lot.

Nos
  • #82,577
  • Dec 15, 2010 11:27am Dec 15, 2010 11:27am
You know I am a bit of a newcomer to FF forums (been using FF's calendar only since about 2008) and your awesome thread. There are a lot of great traders out there. But you have a simple approach, and most admirably a very supportive, humble, and friendly style. Your senior group members Mike, Jarroo,..etc. obviously follow the same culture. All you have to do is visit the EURUSD thread to see how hostile some threads can be.

A Huge Congratulations to you and your Group on this thread, and the reputation and success of the James16 Group!

Happy Holidays!


Quoting james16
im truly honored to have you say that.

thank you very much.

i dont like being in this commercial forum but im stuck so ive got to make the best of it.

people like you make it worth the effort.
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #82,578
  • Dec 15, 2010 11:36am Dec 15, 2010 11:36am
Quoting james16
im truly honored to have you say that.

thank you very much.

i dont like being in this commercial forum but im stuck so ive got to make the best of it.

people like you make it worth the effort.
Hey James. I just started reading this thread a few days ago and I am hooked. GREAT stuff here. It is truly fantastic.

Question, can you look at the chart I posted about an hour ago and give me your thoughts?

Also does your private board still get alot of posters?
What is any ocean but a multitude of drops?
  • #82,579
  • Dec 15, 2010 11:42am Dec 15, 2010 11:42am
1 - James, may I join the member area on your website on trial basis?
2 - I hear everyone saying ''the system works''. What is this ''system."? Is it simply based on Pin Bar, or other price action elements? I've reading your thread but just thought I would ask anyways.
3 - Are your materials / pictures printable? I tried to print as I like reading off the screen but it was not appealing to my eyes.

Thanks for your help!
  • #82,580
  • Dec 15, 2010 11:51am Dec 15, 2010 11:51am
I know I didn't want to take any december trades... but A+ is A+.... This trade even earned extra credit making it 110% A+ . Only risked 0.5% though due to it be December....
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Many choose unhappiness over uncertainty.
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