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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

  • #91,081
  • Mar 8, 2011 2:55pm Mar 8, 2011 2:55pm
Quoting ts63
Euro Dollar daily chart. It didn't take long for yesterday's pin to reach the old resistance. Draw those lines, wait for PA and take the money.
And reverse....TT long 61.8 FTB ...back up we go for a few pippys Your move
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  • #91,082
  • Mar 8, 2011 3:00pm Mar 8, 2011 3:00pm
Quoting FxPrelude
Allso took this trade ... idk i try to draw those boxes and chek the corealtion ... fibo , PPZ , S/R , TL... PB looks good to me and it bounced of former resitance ... maybe its not souch a bad trade .

Mike or other seniors should corect me if i draw some thing wrong and if my toughts are wrong .

sory for my english ...
Hey FXP

My thoughts on chart

Best
Mike
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  • #91,083
  • Mar 8, 2011 3:19pm Mar 8, 2011 3:19pm
Thank you Mike ... tough i still need to learn about that space thing and i know what you mean about slow market.... US sesion stops and it goes sideways for a few hours .
Tough some times it does produce nice signal at the end of US sesion and Asean/ Australian sesion continiues in your fawor ... if your on the wright side lol
Im form Slovenija 22:13 nou and while some can trade EU and US sesion im at work thats why some times i risk and take a trade at this time .
  • #91,084
  • Mar 8, 2011 3:27pm Mar 8, 2011 3:27pm
Quoting FxPrelude
Thank you Mike ... tough i still need to learn about that space thing and i know what you mean about slow market.... US sesion stops and it goes sideways for a few hours .
Tough some times it does produce nice signal at the end of US sesion and Asean/ Australian sesion continiues in your fawor ... if your on the wright side lol
Im form Slovenija 22:13 nou and while some can trade EU and US sesion im at work thats why some times i risk and take a trade at this time .
3 am here when London opens :-(. I'm usually up till the morning, sleeping at 6 am then waking up for class at 10:30. Only thing that sucks about forex.
  • #91,085
  • Mar 8, 2011 3:45pm Mar 8, 2011 3:45pm
Quoting FxPrelude
Allso took this trade ... idk i try to draw those boxes and chek the corealtion ... fibo , PPZ , S/R , TL... PB looks good to me and it bounced of former resitance ... maybe its not souch a bad trade .

Mike or other seniors should corect me if i draw some thing wrong and if my toughts are wrong .

sory for my english ...
what software is this if you don't mind me asking?
  • #91,086
  • Mar 8, 2011 3:48pm Mar 8, 2011 3:48pm
Quoting DBallerz
3 am here when London opens :-(. I'm usually up till the morning, sleeping at 6 am then waking up for class at 10:30. Only thing that sucks about forex.
Yes it can be hard to trade and chek charts wright on time .... thats why i started learning how to trade higer TFs and came acros this tread ...wich is probably best thing that happen to me in my learning curve
I think its still much easyer to trade 4h and daily versus 30min 1H ... you miss to much trades , you get to much false signals , and like murphy law you enter on allmost all of the bad ones
made some money and loose some ... atleaste i didnt blow my acc lol
  • #91,087
  • Mar 8, 2011 3:51pm Mar 8, 2011 3:51pm
Quoting DBallerz
what software is this if you don't mind me asking?
FXCM Marketscope 2.0
tugh i allso use MBT and IBFX feed to chek diferend feeds ... wich still kinda messes up with my decidions ...
  • #91,088
  • Mar 8, 2011 3:51pm Mar 8, 2011 3:51pm
Quoting FxPrelude
Thank you Mike ... tough i still need to learn about that space thing and i know what you mean about slow market.... US sesion stops and it goes sideways for a few hours .
Tough some times it does produce nice signal at the end of US sesion and Asean/ Australian sesion continiues in your fawor ... if your on the wright side lol
Im form Slovenija 22:13 nou and while some can trade EU and US sesion im at work thats why some times i risk and take a trade at this time .
Hey FXp

I did a free video on the space thing in the guest section if you are interested, seemed to help some

As for trading on off times, that is a dangerous slope to only trade when you can. I notice a lot of people work then come home and say ok time for me to trade. That can lead to some issues, but if you can work around them that is all good. I always say if you can't trade the lower timeframes(which no one should till they follow the j16 min requirements first) then stick to the higher timeframes anyway. Stress free and very little chart time

Best
Mike
  • #91,089
  • Mar 8, 2011 3:52pm Mar 8, 2011 3:52pm
After the last trade I posted where I entered a short on the GBP/JPY on the 4hr time frame after seeing the Daily pin bar I tried a similar trade today on the cable.
The attached charts show a BEOB on the daily time frame that closed below a trendline i had on my chart.
The 4hr shows my entry which was the beob which closed below where my entry would have been had i traded straight off of the daily charts.
Again this cut my required stop/risk considerably and I took full profit at the FTA
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  • #91,090
  • Mar 8, 2011 4:19pm Mar 8, 2011 4:19pm
Quoting mbqb11
Hey FXp

I did a free video on the space thing in the guest section if you are interested, seemed to help some

As for trading on off times, that is a dangerous slope to only trade when you can....
Sure im interested in all videos you made !!! Realy liked your explantion on price action in last video you posted here .

Yes i know but i try not to take every single signal that is produced during that pause ... tough before i did trade lower TFs for allmost a year live and eaven had one month 100% profit on my deposit ... but it was a Alpari test acc with 1000$ and with risk 10-20% ... to much risk and to much stres... other than that it was maybe a few % profit each month basicly going no where lol
I know it was stupid what i was doing before ... but i have goal to learn how to trade in 3-5 years and all before and nou is just what every stubern trader like me will go trugh ... some of us are like need to try it to belive it .

Yes i agree 200% with you nou i realy start to understand why its so much beter to trade higer TFs .
  • #91,091
  • Mar 8, 2011 4:52pm Mar 8, 2011 4:52pm
aser - one to look at.
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  • #91,092
  • Mar 8, 2011 4:53pm Mar 8, 2011 4:53pm
I think it's time for a clue:wbeob...or...shampoo(sideways continuation)?It will be fun to watch!
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Nothing personal,just business
  • #91,093
  • Mar 8, 2011 4:53pm Mar 8, 2011 4:53pm
Ohh Mike sory but i dont know how to finde it ... and where is that guest section ?
sory my english is not so good some times and i missunderstand some things or expres my self a bit strange .
  • #91,094
  • Mar 8, 2011 5:25pm Mar 8, 2011 5:25pm
Quoting FxPrelude
Ohh Mike sory but i dont know how to finde it ... and where is that guest section ?
sory my english is not so good some times and i missunderstand some things or expres my self a bit strange .
Click on the Guest link:

http://www.james16group.us/
  • #91,095
  • Mar 8, 2011 5:25pm Mar 8, 2011 5:25pm
Quoting john225
Fresenius looks nice what you guys think about it?
Fresenius moved trough the FTA and moved exactly to the pip to the next PPZ and retraced back ;-)
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  • #91,096
  • Mar 8, 2011 5:27pm Mar 8, 2011 5:27pm
Quoting ljr
Click on the Guest link:

http://www.james16group.us/

Thank you
  • #91,097
  • Mar 8, 2011 5:36pm Mar 8, 2011 5:36pm
Nice BUOB on DT.Telekom. But i would never trade such big bars because i donīt know how to handle such volatile markets ;-)
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  • #91,098
  • Mar 8, 2011 6:00pm Mar 8, 2011 6:00pm
Quoting FxPrelude
Ohh Mike sory but i dont know how to finde it ... and where is that guest section ?
sory my english is not so good some times and i missunderstand some things or expres my self a bit strange .
thanks LJ

Your English is great my friend, and I can understand you perfectly

Mike
  • #91,099
  • Mar 8, 2011 6:02pm Mar 8, 2011 6:02pm
I'm liking the daily I4B on EUR/JPY today.
Many choose unhappiness over uncertainty.
  • #91,100
  • Mar 8, 2011 6:35pm Mar 8, 2011 6:35pm
Quoting johoma
Daily GbpUsd. I'm liking this dBEOB. Reasonable size, at swing high, has tested and broken through major PPZ's at 1.6270 and 1.6250 and neg div against Macd. I have a dPPZ at 1.6187 and a lesser 4h PPZ at 1.6160 that I'd like to see broken before a straight entry upon break of the bar low. Maybe I'm being too cautious here? Alternatively, look for a discounted entry upon retest of 1.6234 (prev bar low) or the 1.6250PPZ.

I like it, John.

The 1.6100ish looks like a excellent confluenced level for a target and/or bullish PA. Price has nearly hit that level already. Its been a strong move down would not be surprised to see it go futher down . .
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Indicators show the past. Price Action "Indicates" the future.
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