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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

  • #87,941
  • Feb 3, 2011 5:51pm Feb 3, 2011 5:51pm
Quoting john225
Yes i know that method too. I tried it on a online roulette game with play money. Its like the same 1$ on black if you win then 1$ on red if you lose double it if you lose again double it again... If you get for example a lose streak of reds you will risking in my example 150$ for 2$ that is crazy xD

I think with this method a margin call is guaranteed
Now I remember: martingale strategy

http://en.wikipedia.org/wiki/Martingale_(betting_system)
  • #87,942
  • Feb 3, 2011 6:14pm Feb 3, 2011 6:14pm
Quoting jarroo
You just made Mike smile . . .
I take it thats a good Idea then
  • #87,943
  • Feb 3, 2011 6:22pm Feb 3, 2011 6:22pm
Quoting spookie94
I take it thats a good Idea then
So it seems
  • #87,944
  • Feb 3, 2011 6:36pm Feb 3, 2011 6:36pm
Funny
I read much earlier today what the interest rate would be, and still it comes as a surprise to the market
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  • #87,945
  • Feb 3, 2011 6:48pm Feb 3, 2011 6:48pm
Quoting jarroo
Wow . . really good video Pb. . .

Believe me . .I would like to take credit for this as my "teachings" . .but its really what I've learned from James16 and Mike.

I may have put a more quailfying confirmation on the "Close above or below" to confirm potential Support or Resistance levels of the PPZ levels.. . .but hey . . that's what James and Mike talk about all the time . not with just PPZ levels.

I guess I just talk about it more . .10,000 posts..
Thanks Jim

I hear you.

Interesting, and your post on USD/JPY gives me ideas but also raises the question about EUR/CHF. Has this this move finished already on H1?
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  • #87,946
  • Edited 7:32pm Feb 3, 2011 6:53pm | Edited 7:32pm
Quoting jarroo
Another good one PB ..

I don't want to take away from your analysis from how you found that PPZ level acting as Resistance right in front of that PB . .it was very good and keep doing it . .

But soon you'll find a quick analysis is all you'll need . . . a relatively small PB, not at a swing point , with small Space and running into traffic . .and easy pass. . .next.

Again . I do not want to take away from your analysis of finding good PPZ levels and seeing how they are acting as . .either Support or Resistance.

Keep doing it...
Agree on this one Jim. The size & no space was the main thing.

thanks Jim.
  • #87,947
  • Feb 3, 2011 7:12pm Feb 3, 2011 7:12pm
I'm a bit apprehensive about this trade kicking in.

It breaks my rules
The close wasn't below Tuesday's close, and I couldn't call it 'engulfing'.

I could call it a 2 day PB I suppose.

Maybe it's tiredness that has me not getting excited about it. And the R:R isn't ideal.

I know I'd be up all night minding it.
I think I'll give it a time limit to kick in.

Now that I've dissed it enough it's starting to look like a very good trade
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  • #87,948
  • Feb 3, 2011 7:12pm Feb 3, 2011 7:12pm
Quoting sr2
Would appreciate that 5. Thanks.
Hazaa! Meta Trader on Apple (with Windows 7 and Parallel emulator).

Things are looking very promising... all I need to do now is re-draw my charts!

Enough computer talk, time to find me some 'pipage'.

Thanks for the heads up.
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  • #87,949
  • Feb 3, 2011 7:17pm Feb 3, 2011 7:17pm
AUD/NZD moving very hard, we can watch the lower TF for something to develop
  • #87,950
  • Feb 3, 2011 7:31pm Feb 3, 2011 7:31pm
Quoting Patrick.
AUD/NZD moving very hard, we can watch the lower TF for something to develop
It really is!
I had it closed due to the 15 pip spread
  • #87,951
  • Feb 3, 2011 7:35pm Feb 3, 2011 7:35pm
This is one serious PB. LoL
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  • #87,952
  • Feb 3, 2011 7:37pm Feb 3, 2011 7:37pm
Quoting Pinbar
This is one serious PB. LoL
Good new avatar for you
  • #87,953
  • Feb 3, 2011 7:37pm Feb 3, 2011 7:37pm
Quoting Ifmyante
It really is!
I had it closed due to the 15 pip spread
I shouldn't dwell on getting stopped out on the 1.300 to 1.2920 retracement.

Stink!
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  • #87,954
  • Feb 3, 2011 7:39pm Feb 3, 2011 7:39pm
Quoting Ifmyante
Good new avatar for you
LOL....Yeah
  • #87,955
  • Feb 3, 2011 7:40pm Feb 3, 2011 7:40pm
Quoting 5.25
I shouldn't dwell on getting stopped out on the 1.300 to 1.2920 retracement.

Stink!
A win is a cause for celebration and education. Always
  • #87,956
  • Feb 3, 2011 7:44pm Feb 3, 2011 7:44pm
PB, have you been thinking more about a broker?
  • #87,957
  • Feb 3, 2011 8:13pm Feb 3, 2011 8:13pm
Quoting Ifmyante
PB, have you been thinking more about a broker?

Actually, not yet.

I am really busy at the moment with other stuff going on.
  • #87,958
  • Feb 3, 2011 8:13pm Feb 3, 2011 8:13pm
Quoting Ifmyante
A win is a cause for celebration and education. Always
This is true, but I think failure will be far more educational!
  • #87,959
  • Feb 3, 2011 8:15pm Feb 3, 2011 8:15pm
Just looking at the EUR/CHF setup.

Not so sure I like it.

I would have preferred to see price violate the BRN more and close below it and give us a setup at a true wing high.

The lower TL looks dodgy and space is rather limited.

Wonder what Mike thinks about it?
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  • #87,960
  • Feb 3, 2011 8:43pm Feb 3, 2011 8:43pm
Quoting Pinbar
Just looking at the EUR/CHF setup.

Not so sure I like it.

I would have preferred to see price violate the BRN more and close below it and give us a setup at a true wing high.

The lower TL looks dodgy and space is rather limited.

Wonder what Mike thinks about it?
Hey Pin

We are just stuck in a tight box, I don't play in these personally. But they are great information once we get outside them and crucial to understanding price better

Best
Mike
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