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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

  • #83,081
  • Dec 19, 2010 2:20pm Dec 19, 2010 2:20pm
Quoting jarroo
Nice job guys.

Also something to look at on the 1st PB (chart).


The 2nd PB one was even more interesting . . . .

2nd PB same thing.


Wait . What? . . how did you know that the 87.32 was going to do that? (chart 1)


Let me zoom out a bit and see why . .(chart 2).
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #83,082
  • Dec 19, 2010 2:33pm Dec 19, 2010 2:33pm
Quoting Adilius07
Can someone please tell me what TF is this?
Hey Adi,

This is a 7 hour chart. I use MT4 period converter indicator, works great for me personally.

Quoting geniusztc
conratulations!
and , i am always confused with the money mangement.you said your per...
Hey gen,

Yea 0.5% fixed risk per trade. That was for last week. I use Oanda broker so I have no problem position sizing me trades to the exact cent. 200$ is more than enough for correct position sizing now days like Mike said.

Quoting ghous
Lovely! http://cdn.forexfactory.com/images/s...yim/rockon.gif

g.
Quoting dmc
Wow great trading man!
Thanks

Quoting mbqb11
way to go Benji

Be sure to PM me soon with a follow up to what we chatted about http://cdn.forexfactory.com/images/s.../yim/happy.gif

Mike
gimme a sec
  • #83,083
  • Dec 19, 2010 2:41pm Dec 19, 2010 2:41pm
Quoting benji533
Hey all

Here are my trades for the last week:
10 winners, 1 loser.

Things got tough for me with a larger account. But now after cutting my risk back to 0.5% per trade this week went smooth. Now climbing up to 0.75% after Christmas and we shall see what's going on...

James and the rest of you rich guys I don't have a clue how you can kip doing it but my hat goes off for you that's for sure.

Happy holiday time for ya all
Quoting benji533
.


This guy Rocks . . . Awesome Ben.

Did you play the BUOB on the 90min on the Gbp/Chf off the 1.5000?
Indicators show the past. Price Action "Indicates" the future.
  • #83,084
  • Edited 3:40pm Dec 19, 2010 2:58pm | Edited 3:40pm
Quoting jarroo
This guy Rocks . . . Awesome Ben.

Did you play the BUOB on the 90min on the Gbp/Chf off the 1.5000?
Yea what doesn't work the 1st time works the 2nd time

http://cdn.forexfactory.com/attachme...1&d=1292702304

Enjoy your holidays my friend Good to see you
  • #83,085
  • Edited 6:23pm Dec 19, 2010 5:50pm | Edited 6:23pm
Quoting jarroo
2nd PB same thing.


Wait . What? . . how did you know that the 87.32 was going to do that? (chart 1)


Let me zoom out a bit and see why . .(chart 2).

Jarroo, I see.

For some reason, I thought you were not into a single TF analysis but, your chart shows that indeed, the same principles can be used on any TF basically. My mistake.

Yeah, Ghous blew the chart away in seconds and nobody is going to give an alternative opinion after that. Still, it was really good to see Ghous go about it and we learned something from it.

I suppose price is price and S&R is S&R and RN are also RNs on any time frame. Great post that brings it home.

Thank you Jarroo.

EDIT: Can't grasp why that space has any influence on current price?
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  • #83,086
  • Dec 19, 2010 6:19pm Dec 19, 2010 6:19pm
Quoting jarroo
This guy Rocks . . . Awesome Ben.

Did you play the BUOB on the 90min on the Gbp/Chf off the 1.5000?

Ok now I'm confused - 90mins???? where did that come from - how many tf's do you check for chrissake.

I look at Wkly Daily 8/6/4/1hr do I now need to add 90mins LoL.
  • #83,087
  • Dec 19, 2010 7:12pm Dec 19, 2010 7:12pm
Quoting stewrigh
Ok now I'm confused - 90mins???? where did that come from - how many tf's do you check for chrissake.

I look at Wkly Daily 8/6/4/1hr do I now need to add 90mins LoL.
lol.. price moves...period. you can chop it in how ever many ways you are comfortable with. the bars jus represent a segment of time or PA. sometimes different segments give different info and different trigger bars (which i believe is what Benji takes advantage of)but basically the PA is the same.

hope this helps clarify the situ??

jon
PATIENCE... DISCIPLINE
  • #83,088
  • Dec 19, 2010 7:22pm Dec 19, 2010 7:22pm
support turning to resistance, will it hold and protect my stop??...

classic stuff, just ask Jarroo.,.

stayin below 1.55 is good for me!!??

one thing i always meant to ask you Jarroo. where does the name come from???

jon
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PATIENCE... DISCIPLINE
  • #83,089
  • Dec 19, 2010 7:35pm Dec 19, 2010 7:35pm
Quoting g_j_hook@yah
support turning to resistance, will it hold and protect my stop??...

classic stuff, just ask Jarroo.,.

stayin below 1.55 is good for me!!??

one thing i always meant to ask you Jarroo. where does the name come from???

jon
I wanted to ask the same quieston b/c is comon slovak name lol.
  • #83,090
  • Dec 19, 2010 7:54pm Dec 19, 2010 7:54pm
Quoting benji533
Hey all

Here are my trades for the last week:
10 winners, 1 loser.

Things got tough for me with a larger account. But now after cutting my risk back to 0.5% per trade this week went smooth. Now climbing up to 0.75% after Christmas and we shall see what's going on...

James and the rest of you rich guys I don't have a clue how you can kip doing it but my hat goes off for you that's for sure.

Happy holiday time for ya all
What is BRN? Can someone enlighten me on that?
  • #83,091
  • Dec 19, 2010 7:59pm Dec 19, 2010 7:59pm
Quoting Ray_1
What is BRN? Can someone enlighten me on that?
BRN = Big Round Number
PATIENCE... DISCIPLINE
  • #83,092
  • Dec 19, 2010 8:40pm Dec 19, 2010 8:40pm
Whoops! Sorry chaps, was away on vacation, missed the big 5500 RN.

Time for my once in 500 pages rant. LOL.

Over the time taken in the past 500 pages, what has really been grounded into my trading is that this business takes TIME. Some 'get it' quickly, others, like me take longer... perhaps its stubbornness or perhaps the desire to really express J16 principles in my own manner; one can play them like the seniors do and be profitable VERY quickly (I'm thinking benji... speaking of which, where is that kid? Oh yes, IDF…), or grind it out and find one's own path and really express oneself using these same principles.

I took the latter path. It's really taken me awhile, cause I'm the kinda bloke who needs to understand WHY stuff works, and not just "oh yea. that works. let me try that"... methinks that its because "oh! it works! copy!" is the same attitude that the holy grail hunter/system hopper has (been there, done that). Congrats to the folks who have had the good fortune of “copying” J16 principles, they’re the shit, pure awesomeness. I recently read that one of the best ways to learn is to copy someone successful until you gradually assimilate the principles and reasons for WHY they’re successful, and then, apply your own style to it.

Over the past erm 500 pages (however long that took), my style has more or less crystalised. I have found setups I REALLY can relate to and understand WHY it would be a good trade.

I have learned….
“Location” isn’t important. It’s crucial
The best of setups can fail. That’s why we need to manage risk and have STOPS.. because SHIT HAPPENS. Your setup works because some other blokes are willing to bid or offer above/below your entry price. SIMPLE AS THAT.
To measure my ‘success’ by the quality of the setup, not whether it works out (because.. see above)
Chipping away at “boring” setups makes up a REALLY hefty return… *cough-compounding-cough cough*
Once in awhile, those “to infinity and beyond!” trades REALLY give your account a BIG KICKER (I thank PC, Jarroo and SL for this)
Patience is not something you try to have, it comes as a natural result of understanding that a massive account isn’t going to come overnight… (and if you start FX with one... well, it's a quick way to turn a big account into a medium/small account. rofl)
There is a gap between what you think you know and what you apply and consistency comes largely from experience in applying the J16 principles in YOUR OWN way (or a copied one… no harm in tt. It makes $$)
Consistency comes from understanding and applying that understanding again and again and again
Being too damn small to move the market is a GREAT and WONDERFUL edge
Trends are beautiful!
To be a tracker… and sniff out where the big boys are most likely going to begin barking….
The same (good) shit happens AGAIN and AGAIN and AGAIN
There is ALWAYS room for improvement
Markets always change and the good trader changes with it…
Great setups always look the same, but are always different. Know thy variations
It takes TIME and a lot of experimentation to find something that really expresses you. When you get there, its really the sweet spot.
Continuing to experiment and “play” like a child in the sandbox is important. Great epiphanies can come from ‘wasting time’ mucking around. Continual research is a necessity.
This is a performance sport. Practice is essential. Journal!
To keep things simple. The variations of simple setups are enough to keep you busy (making Rs)
To ask, “what drives this trade?” If I can’t get a clear answer, I pass.

Kk, end of rant. =)

Edit: I might add, if you know what you're doing, the returns are AWESOME
Attached File(s)
File Type: zip J16, 5000 to 5500.zip   1.1 MB | 976 downloads
One Mind, Any Market
  • #83,093
  • Dec 19, 2010 9:07pm Dec 19, 2010 9:07pm
Can someone please help me to understand the "two consecutive matching lows as a trend continuation breakout"? I am referring to posts 2 & 3 of this thread.

What defines the entry? The first bar that closes below the 2 previous lows?

Thanks in advance!!:-)
  • #83,094
  • Dec 19, 2010 9:23pm Dec 19, 2010 9:23pm
Quoting rd122481
Can someone please help me to understand the "two consecutive matching lows as a trend continuation breakout"? I am referring to posts 2 & 3 of this thread.

What defines the entry? The first bar that closes below the 2 previous lows?

Thanks in advance!!:-)
Hey RD

Matching lows, are considered potential continuation breakouts when those lows are taken out. So meaning right on the break. I like them when you have 4-5 matching lows/highs. They get stronger. Something I think often gets passed up here with all the other patterns. They can be great signals to help manage a trade too

Best
Mike
  • #83,095
  • Dec 19, 2010 10:27pm Dec 19, 2010 10:27pm
Quoting Cyrus
Whoops! Sorry chaps, was away on vacation, missed the big 5500 RN....

Hey Cyrus looking fwd to your next update in your journal
  • #83,096
  • Dec 19, 2010 10:34pm Dec 19, 2010 10:34pm
Quoting benji533
Yea what doesn't work the 1st time works the 2nd time

http://cdn.forexfactory.com/attachme...1&d=1292702304

Enjoy your holidays my friend Good to see you

Indicators show the past. Price Action "Indicates" the future.
  • #83,097
  • Dec 19, 2010 11:01pm Dec 19, 2010 11:01pm
Quoting Pinbar
Jarroo, I see.

For some reason, I thought you were not into a single TF analysis but, your chart shows that indeed, the same principles can be used on any TF basically. My mistake.

Yeah, Ghous blew the chart away in seconds and nobody is going to give an alternative opinion after that. Still, it was really good to see Ghous go about it and we learned something from it.

I suppose price is price and S&R is S&R and RN are also RNs on any time frame. Great post that brings it home.

Thank you Jarroo.

EDIT: Can't grasp why that space has any...

All time frames have PPZ levels i.e. S/R, all time frames have situation where Price turns from Res to Sup (vis vers) once Price breaks through and close above or below. I view the higher TFs as stronger levels which can be seen on the lower TFs, much like BRNs are on all the time frames.


There's is not a direct relationship from the 1st PB. I was showing that the current Price situation has no Space.

Since I haven't seen any WIPG on this one but from you . . here's my take:
Price could find Support on top of the consolidation and move back up.
Or Price can come down and find Resistance again within the consolidation and move down. Obviously . .PA will show us the way.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #83,098
  • Dec 19, 2010 11:07pm Dec 19, 2010 11:07pm
Quoting Pinbar
Jarroo, I see.

For some reason, I thought you were not into a single TF analysis but, your chart shows that indeed, the same principles can be used on any TF basically. My mistake.

Yeah, Ghous blew the chart away in seconds and nobody is going to give an alternative opinion after that. Still, it was really good to see Ghous go about it and we learned something from it.

I suppose price is price and S&R is S&R and RN are also RNs on any time frame. Great post that brings it home.

Thank you Jarroo.

EDIT: Can't grasp why that space has any...
The middle PB had some Space and you can see that it did move down.
Attached Image (click to enlarge)
Click to Enlarge Name: nsumon20a.jpg Size: 119 KB
Indicators show the past. Price Action "Indicates" the future.
  • #83,099
  • Dec 19, 2010 11:11pm Dec 19, 2010 11:11pm
Quoting jarroo
All time frames have PPZ levels i.e. S/R, all time frames have situation where Price turns from Res to Sup (vis vers) once Price breaks through and close above or below. I view the higher TFs as stronger levels which can be seen on the lower TFs, much like BRNs are on all the time frames.


There's is not a direct relationship from the 1st PB. I was showing that the current Price situation has no Space.

Since I haven't seen any WIPG on this one but from you . . here's my take:
Price could find Support on top of the consolidation and move...

Thanks Jarroo

I was just asking about that first space area and what relationship it has to the current price. You mentioned that it is relevant yet, in this post you seem to be suggesting it is not relevant to current price?

I see now, you are talking about that first PB the one I posted the WIPG on.
  • #83,100
  • Dec 19, 2010 11:13pm Dec 19, 2010 11:13pm
Quoting stewrigh
Ok now I'm confused - 90mins???? where did that come from - how many tf's do you check for chrissake.

I look at Wkly Daily 8/6/4/1hr do I now need to add 90mins LoL.
PA is all relative to any TF. I do believe that the higher TFs give stronger PPZ levels and S/R levels, which can be played on the lower TFs.

The key point to Ben's 90min setup was the 1.5000 BRN . .a key level on any TF.
Indicators show the past. Price Action "Indicates" the future.
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