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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

  • #84,961
  • Jan 8, 2011 9:39am Jan 8, 2011 9:39am
fmc on weekly.
beob engulfing two bars.
no new highs since 5 weeks.
forming a double top.
will likely get back in the trendchannel.
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meine augen sind die sterne
  • #84,962
  • Jan 8, 2011 9:48am Jan 8, 2011 9:48am
Here's one on AT&T (weekly)
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  • #84,963
  • Jan 8, 2011 11:40am Jan 8, 2011 11:40am
Quoting Adilius07
Yes, I did that kind of backtest too. Going bar bу bar - and I lose in my backtests too, lol. So there is really something in the plan I agree with you. Will work on this. Maybe I need less setups but with more clear entry rules, don't know yet, will think about this. Thanks!
Sorry, been busy last few days, just catching up on this end.

Adilius,
I may be missing something here but I don't quite understand why you went ahead and traded a plan that didnt even work in backtests?
Kind Regards Chris
  • #84,964
  • Jan 8, 2011 11:41am Jan 8, 2011 11:41am
any comments about usd/jpy daily BEOB?
  • #84,965
  • Jan 8, 2011 11:42am Jan 8, 2011 11:42am
mmm.........
  • #84,966
  • Jan 8, 2011 11:48am Jan 8, 2011 11:48am
Quoting chriskins
Sorry, been busy last few days, just catching up on this end.

Adilius,
I may be missing something here but I don't quite understand why you went ahead and traded a plan that didnt even work in backtests?
Hey Chris,

Lol, a fantastic question you made
And thanks for your reply.
I will try to explain don't know if I could make it clear, I'll try...

As you know there is no one rule like: When fast ma below slow ma, and sto is in overbought and miracle indicator says sell ---> SHORT. Instead here we have to use discretion, and a lot of discretion. And we have to be picky (this actually means to use even more discretion).

And to answer this question it was like this: I lost a few times on different pairs (in backtest) and learned just one thing: BE MORE PICKY. Then I went ahead with my demo using this knowledge and lost 9 times in a row! Now I sit and change my plan to: BE EVEN MORE PICKY..

All other components of my plan like: locations, space, structure, etc. etc. stay the same...

Well, hope that clarifies, me too shocked by such a terrible performance I have. My MA cross system that I used 4 years ago was much better

Hope I can change the way things are in 2011...
  • #84,967
  • Jan 8, 2011 11:50am Jan 8, 2011 11:50am
Quoting Adilius07
Here's one on AT&T (weekly)
Hi Adilius,

Not sure if you are going to play that one, but going from just your (naked) chart it looks like the you are shorting into traffic and a resistance turned support or price flip, not sure if there is more if you zoom out. (from that high to the left).
Kind Regards Chris
  • #84,968
  • Jan 8, 2011 12:04pm Jan 8, 2011 12:04pm
Hi Guys,

Just wondering if anyone can share any success stories of using the J16 stuff, either first or second hand?

Commiting to demoing and practicing this for a year is a major thing for me and I was hoping for some examples of success in the long term.

I think it would help others too.

Not that I am questioning whether this stuff works or not, I firmly believe it does.
Kind Regards Chris
  • #84,969
  • Jan 8, 2011 1:16pm Jan 8, 2011 1:16pm
Quoting Adilius07
Hey Chris,

Lol, a fantastic question you made
And thanks for your reply.
I will try to explain don't know if I could make it clear, I'll try...

As you know there is no one rule like: When fast ma below slow ma, and sto is in overbought and miracle indicator says sell ---> SHORT....
Hey Adi,at least your honest and showing your loosing trades,a lot of people wouldn't dream of doing this,stick with it and I am sure 2011 will be your year for turn around
  • #84,970
  • Jan 8, 2011 1:34pm Jan 8, 2011 1:34pm
Quoting Tedge UK
Hey Adi,at least your honest and showing your loosing trades,a lot of people wouldn't dream of doing this,stick with it and I am sure 2011 will be your year for turn around
Thank you Tedge, your words mean a lot to me.
I will keep on posting them until I either get profitable or give up! (Latter never happen )
  • #84,971
  • Jan 8, 2011 1:58pm Jan 8, 2011 1:58pm
Quoting kancha1115
Imo,10 second is enoughhttp://cdn.forexfactory.com/images/s...im/winking.gif If I try to take only great(clear) sign(which everyone can see) , chance will increase.
Quoting kancha1115
I think , I do trade on my own belief ,, belief that I can not trade in Lower time frames , that I can not do good on counter trading..etc.
so I made my rules to keep myself from things I can`t do.. and then PA and PPZ , things like that will come later.
if I can feel the firm ground under my feet , then I will be able to jump without hesitation.

that`s my thought .hope this will help someone even a little and thanks for everyone reading all my bad bad English to the end.

Ken.

Hey Ken . .

That is a great line . . "I am always trying to judge quality of PA within 5~10 second. If I can`t do it within 10 second , then simply I pass that pair. " For those of you that think its hard to analyze 40 to 50 pairs/instruments or more, here's a way to help you through them . . .


If I may make a suggestion . .

and please Ken, I do not want you to take this the wrong way, your trading plan is good and it fits you great. . .

But much of the core of that James16 teaches lies with the PPZ levels . .where Support and Resistance levels meets or flips. If you could add this additional confluence to your plan it may strengthen the quality of your setups . . .(Charts)

Again, I'm not trying to change your plan . .that's the last thing I want to do. I'm just showing you another confluence that can aide you in your plan.


Great posts . .Ken . .



Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #84,972
  • Jan 8, 2011 2:35pm Jan 8, 2011 2:35pm
Quoting mbqb11
For those interested I have gone ahead and closed this trade first of the year
A work of art on so many levels Mike . . . .great trade to start the year.


The Gbp/Nzd appears to have (or had) a simliar setup. I'm looking to see the 2.0500 to continue to act as strong Resistance ( previous strong Support). Bearish PA at this level.

I'm wondering it this flag setup still has potential or has it fullfilled itself by reaching its target(s) and thus no longer has potential. . . I suspect the latter.


Thanks Mike,


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #84,973
  • Edited Jan 9, 2011 3:04am Jan 8, 2011 6:10pm | Edited Jan 9, 2011 3:04am
Quoting jarroo

If I may make a suggestion

and please Ken, I do not want you to take this the wrong way, your trading plan is good and it fits you great. . .

But much of the core of that James16 teaches lies with the PPZ levels . .where...

I think your charts are also a great work of art.

One line on a chart, the trap is set and I can almost see you lying in the bushes waiting for the beast to arrive.


What a great hunter you are Jarroo!

SO inspiring just looking at your charts, always makes me want to draw PPZ.


EDIT: WTH.........EMAs on Jarroo's charts.........I have waited for this day...
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  • #84,974
  • Jan 8, 2011 6:37pm Jan 8, 2011 6:37pm
Quoting chriskins
Hi Adilius,

Not sure if you are going to play that one, but going from just your (naked) chart it looks like the you are shorting into traffic and a resistance turned support or price flip, not sure if there is more if you zoom out. (from that high to the left).
There is more to it because Verizon is going to sell iphone, everybody hates AT&T service.
Fundamental Confluence
Anything can happen - You never know
  • #84,975
  • Jan 8, 2011 8:04pm Jan 8, 2011 8:04pm
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  • #84,976
  • Jan 9, 2011 12:02am Jan 9, 2011 12:02am
dbhlc on e/g weekly.
fta is about 150 pips away.
if you consider a full bar loss on this, it would result in a bad r:r.
any comments...
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meine augen sind die sterne
  • #84,977
  • Jan 9, 2011 1:37am Jan 9, 2011 1:37am
Quoting Atc
thanks atc.
i saw that, too. but did you check the daily tf? the friday-bar closed as (rather small) pin. and the close of the weekly bar isn't strong either...
i am not sure about this.
meine augen sind die sterne
  • #84,978
  • Jan 9, 2011 1:43am Jan 9, 2011 1:43am
off topic..but its about metatrader
if i am viewing daily and i enter my notes, when i go down to 4hour or 1 hour the location of that text changes. its no longer visible. is there a way to enter text in metatrader so my notes are always visible on top right which time frame i'm looking at?
  • #84,979
  • Jan 9, 2011 2:11am Jan 9, 2011 2:11am
Quoting torontobboy2
off topic..but its about metatrader
if i am viewing daily and i enter my notes, when i go down to 4hour or 1 hour the location of that text changes. its no longer visible. is there a way to enter text in metatrader so my notes are always visible on top right which time frame i'm looking at?

Metatrader is not good at handling time frame changes.

Horizontal lines such as our PPZ work fine but Trend Lines get screwed up, maybe it is the same with text.

Or it could be that you are writing these on the higher tf and when you move back to the lower tf. it is just off the screen.
  • #84,980
  • Jan 9, 2011 2:20am Jan 9, 2011 2:20am
weekly-pinbar on rok.
big candle breaking the high of the last weeks but coming back down.
it is the largest candle which closes as a pin in the whole upmove since april 2009.
please comment...
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meine augen sind die sterne
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