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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

  • #85,361
  • Jan 12, 2011 7:44am Jan 12, 2011 7:44am
Quoting supremeChaos

Hello lucas,
if u look closely at his charts, it says "IT-finance.com"
I Think IT Finance are the charts that the broker IG Index use
  • #85,362
  • Jan 12, 2011 7:48am Jan 12, 2011 7:48am
Quoting supremeChaos
nyek

Hello lucas,
if u look closely at his charts, it says "IT-finance.com"
Thanx SC my friend, my broker is : igindex.co.uk they use the tradingsoftware of IT-finance for their clients.
Pipcrawler
  • #85,363
  • Jan 12, 2011 7:52am Jan 12, 2011 7:52am
I'm in the middle of watching Jim's webinar 522 in the PF.

The simplicity of his reasoning matched with the accuracy of his analysis is truly amazing.

A while back I studied Mouteki's beautiful work on fibs, and from it began to learn with some accuracy where price was going to go.

But, and this is a big BUT, I could never tell wchich route it was going to take to get there. So many of my predictions provided me with massive drawdowns and panicked closes before price turned in my direction again.

If only I had learned at the same time, from Jim and the other great teachers in the pf and here, which routes price was going to follow, my laptop would now be sitting on a glass topped coffee table in a stilted chalet over the clear waters of Bora Bora!

Here's what I love most about the pf at the moment, not having scraped the surface of its contents yet:

In one minute of a webinar, I learn more than in 50 posts on a forum. It's like a classroom relative to a book. A class being taught by the author.

This thread is magnificent as a study group after the class, filled with the greatest minds on the subject, reiterating the lessons and adding ingenious additions and observations.

The whole package is a lifesaver, and I'm so grateful it's here

Best to all

Michael
  • #85,364
  • Jan 12, 2011 7:55am Jan 12, 2011 7:55am
Quoting chriskins
Good point, don't see people like wizard or seeking light though, do they still post hee or in the PF? (I am around 400 pages into the thread btw)
SL is very active in the PF, and wiz had taken a trading job and posts(or did from what I am told) over at T2W boards(spreadbetting I believe they are). He pops in once and a blue moon . He has issues with lighting strikes ()

We all try to do our best to keep up with this thread and the PF. This will always be the safe haven for newbies and lost traders alike! That you can count on.

I just shoveled 14 inches of snow so I am ready for bed again LOL

Mike
  • #85,365
  • Jan 12, 2011 7:59am Jan 12, 2011 7:59am
Quoting grahamec
I Think IT Finance are the charts that the broker IG Index use
Quoting xmzhang
http://cdn.forexfactory.com/images/s...m/big_grin.gifThanx SC my friend, my broker is : igindex.co.uk they use the tradingsoftware of IT-finance for their clients.
lol,
that was a hasty reply from me.
yeah, i forgot to mention IG Index (which is actually the right answer to lucas' question )

thanks Sir graham & xmzhang
  • #85,366
  • Jan 12, 2011 8:00am Jan 12, 2011 8:00am
Quoting mbqb11
SL...
I just shoveled 14 inches of snow so I am ready for bed again LOL
...
hmmm... let me guess..
time for a bottle of beer?
keep those muscles healthy & flexed

i just wish u can ship them snows, still intact, to my place.
  • #85,367
  • Jan 12, 2011 8:01am Jan 12, 2011 8:01am
Quoting supremeChaos
hmmm... let e guess..
time for a bottle of beer?
keep those muscles healthy & flexed

i just wish u can ship them snows, still intact, to my place.
beer?! it is 9am on a Wednesday , this isn't college anymore

time for hot coffee
  • #85,368
  • Jan 12, 2011 8:02am Jan 12, 2011 8:02am
Quoting Ifmyante
Hi Kancha,

If only native English speakers could spell half as well as you, the world would be a much more refined place!

I think you and I may very well be around the same level of the learning curve.

Please post any potential trades you see, and I'll do the same. We can decide, with some help, I hope, how strong they are.

Thanks for your encouragement my friend. I look forward to reading more from you

Best

Michael
thanks Ifmyante^^
It take a long time to write in English(I m really slow slow writer , though, I will. try my best

Ken
  • #85,369
  • Jan 12, 2011 8:06am Jan 12, 2011 8:06am
Quoting mbqb11
beer?! it is 9am on a Wednesday , this isn't college anymore
time for hot coffee
so, u drink a bucketful of beer before going to class, huh?

an ice cold beer is always the first choice after snow shovelling, isnt it?
maybe u have changed, Mike
  • #85,370
  • Jan 12, 2011 8:09am Jan 12, 2011 8:09am
Quoting xmzhang
Just closed my long on cable, I've scalped some pips on a pullback of a 3H-BEOB, which closed as a (not perfect one) BUOB on the 15m-TF. I'am now looking for some bearish PA @ 15615-ish to sell Cable and to preempt the break of that 3H-BEOB.
Bummer, shouldn't have closed my long on Cable #@#$%?! I was quite sure price would bump its head against that minor PPZ @ 15615, that 3H-BEOB and Jon's 4H-BUOB were backing me up, so I closed my longs when price touched the 15615 and waited for some bearish PA to reverse my long for a preemptive break of that BUOB. Well I DIDN'T see a descent sell PA (even on the very low TF's) after I closed my long, BUT what I did see was a nice buy trigger on the 5m-TF via a BUOB right @ 15600 lol, this should've been a signal to stay long. At the moment price has retraced more than 61,8 % of the range of that BUOB so for me that invalidates the BUOB. Looking at the higher TF, price has broken that TL and retested the TL, this should've been another reason to reconsider going short, which I didn't because I was to occupied looking @ the lower TF. But I did scalpe some pips though
Pipcrawler
  • #85,371
  • Jan 12, 2011 8:09am Jan 12, 2011 8:09am
Sorry forgot the chart ................
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 211 KB
Pipcrawler
  • #85,372
  • Jan 12, 2011 8:14am Jan 12, 2011 8:14am
Quoting kancha1115
thanks Ifmyante^^
It take a long time to write in English(I m really slow slow writer , though, I will. try my best

Ken
I wonder how long it would take me to type こんにちは?

You're doing a great job, so please don't apologise again.

By the way, it looks like you're learning English, not American. The more difficult route.

Well done
  • #85,373
  • Jan 12, 2011 8:16am Jan 12, 2011 8:16am
Quoting xmzhang
aclixxgoal4..
Sorry forgot the chart ......
hahaha... things happen.
i was in a long in gbpusd too. i gave back about 70pips via a "wide" trailing stop getting hit, just a few hours ago. i think i need to try a much wider stop.

based on current PA, i maintain my stance that it still wants to go to 1.58 1.60. let's see how the day closes
  • #85,374
  • Jan 12, 2011 8:27am Jan 12, 2011 8:27am
Location: Close above BRN 130.00, Above 61.8 fibo, above box and 365 ema.
Bar: BUOB, very nice close.
Space: Target is 131.50

Comments are welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy 4h buob.gif Size: 22 KB
  • #85,375
  • Jan 12, 2011 8:29am Jan 12, 2011 8:29am
Quoting mbqb11
Hey Gladiator

Glad to see you are learning from the thread....
Thanks a lot for your reply..... very much appreciated...I wish you all the very best for your trading...
  • #85,376
  • Jan 12, 2011 8:29am Jan 12, 2011 8:29am
Quoting supremeChaos
hahaha... things happen.
i was in a long in gbpusd too. i gave back about 70pips via a "wide" trailing stop getting hit, just a few hours ago. i think i need to try a much wider stop.

based on current PA, i maintain my stance that it still wants to go to 1.58 1.60. let's see how the day closes
yeah, i have to agree. i wouldnt have thought it but i think any break above 1.57 could take us to 1.59...
like you say lets watch n see...?

jon
PATIENCE... DISCIPLINE
  • #85,377
  • Jan 12, 2011 8:31am Jan 12, 2011 8:31am
Quoting g_j_hook@yah

its interesting to see your TL slightly higher than mine?? the fact that the 4h BEOB closed below that was an important confluence for me.

jon
Hey Jon, I've drawn my longterm TL off the weekly TF connecting two consecutive swing point highs. Drawing a longterm TL off a lower TF is not accurate because of the noise, this could mean that two traders don't necesarilly have exactly the same TL although they both might use the same method in constructing a TL, on the weeklies however this noise is filtered out and every trader is looking @ the same TL ........ if one uses the same method in constructing a TL ie. connecting two consecutive swing highs/lows. Looking @ our different TL's on Cable, in your case the TL would support your initial thought to sell Cable as it closes below your TL, in my case on the other hand the TL would support the thought to buy Cable, because price broke and pulled back right to the TL. So different TL's give different views of which only one is right
Pipcrawler
  • #85,378
  • Jan 12, 2011 8:37am Jan 12, 2011 8:37am
Quoting mbqb11
SL is very active in the PF, and wiz had taken a trading job and posts(or did from what I am told) over at T2W boards(spreadbetting I believe they are). He pops in once and a blue moon . He has issues with lighting strikes ()

We all try to do our best to keep up with this thread and the PF. This will always be the safe haven for newbies and lost traders alike! That you can count on.

I just shoveled 14 inches of snow so I am ready for bed again LOL

Mike
Wow! good workout though. I think I will join the PF next month, this month I will purchase ForexTester and get to work on backtesting my ass off.
Kind Regards Chris
  • #85,379
  • Jan 12, 2011 8:42am Jan 12, 2011 8:42am
Quoting Thierry
Location: Close above BRN 130.00, Above 61.8 fibo, above box and 365 ema.
Bar: BUOB, very nice close.
Space: Target is 131.50

Comments are welcome.
Do you see an obstacle around 130.76?

I'm to be taken with a pinch of salt at the moment, so don't panic
  • #85,380
  • Jan 12, 2011 8:43am Jan 12, 2011 8:43am
btw, off topic.
im trying something different this new year.

anyone of you have an experience with online jobs, transcription service, pay to click sites, etc?
if so, i'd like to hear your views. kindly PM me.
i joined a few of these to see what's up with them & if they are legit, etc.
i wont mention any sites, as that maybe against the rules, despite being non-FX related.

im in front of the PC for about 10 - 15 hours per day.... reading, checking charts, monitoring setups/open positions (i trade live), posting here, surfing the web, checking local/international news, etc
& as u know, (depending on your experience & setup 'pickiness') not many trading setups happen daily.
i thought 'why not try these stuff (i rejected the idea for at least a year or two) & see what happens. just to fill in some of my empty, nonproductive computer time.
if i can get +/- $100 - $1000 a year from this that's decent enough. if i can earn that monthly much better!! (take note, in my country, the average employee earns about $130 - $250 per month; i've never been employed so the actual salary maybe higher or lower; it's not uncommon to hear about /see people living without a job or living off of $1 - $5 a day)
my point & purpose is for me to get much much productive (time, experience, finance, knowledgewise) this new year.

if anyone has insights or comments (even negative comments), PM me.
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