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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

  • #92,621
  • Mar 31, 2011 2:23am Mar 31, 2011 2:23am
Quoting Greenhaze
It didnt broke yet. Price needs to break the bar high, which in this case is 1.3760 on fxpro.

Broke on my FXDD feed but, I think it is going to have trouble around the 1.3770 area and may give us a deeper pullback. The close of the PB is also outside the eye of the previous bar on this feed.

I want to see it hit the TL, the 61.8 fibo, the 1.3600 RN & show me a more decisive PA setup.
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  • #92,622
  • Mar 31, 2011 2:58am Mar 31, 2011 2:58am
I hope u r all well

2 trades

CAD CHF - sold it at 0.9435 just under the break of the Daily PB. FTA at 0.9340 so not optimistic itll reach my TP at 91

GBP USD - Buy Limit for 6110 - bad thing is there is no PA at the moment but I think this pair can explode quicker than the CAD CHF. Hope to take it as a Pullback into that consolidation there. I think it has more potential than the CADCHF.

Lets see
  • #92,623
  • Mar 31, 2011 3:10am Mar 31, 2011 3:10am
Quoting Reset_JL
Ifmyante - keep up the great charts and posts on RT entries. Would love to have ideas on how to enter on the retrace after Daily OBs based on PA of 4-hour candles.
Hi JL

Thanks for the encouragement

To respond to your post I opened a chart and picked on the first D1 PA with RT that I saw.
I'm afraid it was a bit too small to find RT opportunities on H4. But looking at M30 (come to think of it, I would have seen it on H1 too had I looked!) there was an absolutely obvious entry/re-entry to be found. It didn't work to the pip, but the lack of upper wicks to the 2 top bars of the RT were a signal of upside exhaustion, and a good cue to trigger a trade.

Now, it's your turn to find a RT entry for me

Best

If
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  • #92,624
  • Mar 31, 2011 3:23am Mar 31, 2011 3:23am
Quoting antgal23

CAD CHF - sold it at 0.9435 just under the break of the Daily PB. FTA at 0.9340 so not optimistic itll reach my TP at 91
Also, looking at the weekly, price has a memory of .9322
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  • #92,625
  • Mar 31, 2011 3:35am Mar 31, 2011 3:35am
And just to beat the CC subject to death, here's a little more on it
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  • #92,626
  • Mar 31, 2011 3:37am Mar 31, 2011 3:37am
Quoting Ifmyante
And just to beat the CC subject to death, here's a little more on it
Looks awesome to me really! Now, how to make money with all this info?
  • #92,627
  • Mar 31, 2011 3:38am Mar 31, 2011 3:38am
Quoting Adilius07
Looks awesome to me really! Now, how to make money with all this info?
Doop de doop de dooooop
  • #92,628
  • Mar 31, 2011 3:40am Mar 31, 2011 3:40am
Quoting Ifmyante
Doop de doop de dooooop


P.S. My CADCHF short was at the perfect spot then. BRN+Imbalance.
All I need it to do now is not to breakeven on me and reach 0.94
  • #92,629
  • Mar 31, 2011 3:48am Mar 31, 2011 3:48am
Quoting Adilius07
Looks awesome to me really! Now, how to make money with all this info?
No, seriously.

We can use it for easily spotting our TAs. I know this is what the seniors have been saying for years, it's just now that the why of it has hit me!

Another way to use it is pretty far from the principles of this thread, but has a very high win ratio with very low risk and high multiples of reward to risk.

I don't think it should be used as more than a TA spotter though until one knows the J16 principles inside out first.

So please kids, don't try this at home just yet

Once we've graduated here, though, we can make a killing!
  • #92,630
  • Mar 31, 2011 3:50am Mar 31, 2011 3:50am
Quoting Adilius07


P.S. My CADCHF short was at the perfect spot then. BRN+Imbalance.
All I need it to do now is not to breakeven on me and reach 0.94
Nice spot, seems like EUR/CAD is taking off as well.
  • #92,631
  • Mar 31, 2011 3:53am Mar 31, 2011 3:53am
Quoting Adilius07


P.S. My CADCHF short was at the perfect spot then. BRN+Imbalance.
All I need it to do now is not to breakeven on me and reach 0.94
Where did you get in? I got in at .9469. I pressed the button at .9470, the very top of the RT, but it had dropped a pip by the time the order got placed.

Zero DD feels good
  • #92,632
  • Mar 31, 2011 3:57am Mar 31, 2011 3:57am
Quoting Ifmyante
...Another way to use it is pretty far from the principles of this thread, but has a very high win ratio with very low risk and high multiples of reward to risk...
Something like THAT cannot be far from the principles of this thread, imo
Can we talk more about this please?
Can you share anything on this, a link or a hint or anything?
  • #92,633
  • Mar 31, 2011 4:01am Mar 31, 2011 4:01am
Quoting Ifmyante
Where did you get in? I got in at .9469. I pressed the button at .9470, the very top of the RT, but it had dropped a pip by the time the order got placed.

Zero DD feels good
Mine was on breakout of H4 BEOB, I only do breakout entries for now. I know almost each time they retrace, but still not sure how can I implement that "knowledge" into my trade managment rules, so for now just break of the setup bar. Entry was 0.9447 (4 pips below H4 BEOB on FxPro)
  • #92,634
  • Mar 31, 2011 4:04am Mar 31, 2011 4:04am
My feed tells me the KoF (Swiss Institute for Business Cycle Research) came in with better data than expected yesterday. This looks like the reason the Swissy strengthen during the day with the release of this information.

This does not please the Fed. USD/CHF is right at the bottom and for price to go any lower we will have to break all time lows. Having said that the USD has been in constant decline against the CHF since 2000, so this train has been travelling for quite a long time now.
  • #92,635
  • Mar 31, 2011 4:04am Mar 31, 2011 4:04am
Quoting Adilius07
Something like THAT cannot be far from the principles of this thread, imo
Can we talk more about this please?
Can you share anything on this, a link or a hint or anything?
pm me your skype or messenger. I'll dig up what I have. There are hours and hours of webinars and articles, but it all boils down to the charts I've posted since last night.

You can study it for weeks, but in the end you'll find out that all you need to do is see what price has been doing on the charts.

I don't mean analyse it- Analysis will get in the way. Just (like in Avatar) see it
  • #92,636
  • Mar 31, 2011 4:08am Mar 31, 2011 4:08am
gbp usd pull back missed the first time by 3 pips , waiting for a deeper pullback the 2nd time
  • #92,637
  • Mar 31, 2011 4:11am Mar 31, 2011 4:11am
Quoting antgal23
gbp usd pull back missed the first time by 3 pips , waiting for a deeper pullback the 2nd time
any chart ant?

I've just seen where you live, so 'Top o' the marnin to ya!'
Or if you're from Dublin, 'owya!'
  • #92,638
  • Mar 31, 2011 4:30am Mar 31, 2011 4:30am
Yesterday a few posters were looking at USD/CHF and CAD/CHF. Which short off the pinbars to go for.

This is not something I have read being discussed here or anywhere else for that matter and I might not get any discussion anyway but here goes.

Clearly all currencies are linked and everything will match up as it were. Situations where the USD has an absolute value higher against the GBP as opposed to the CHF will not happen. There will be computers working constantly looking for fractions of a cent to arbitrage.

The CHF is the CHF, it will have an absolute value, its worth 1 CHF. Let's say the USD and CAD are at parity and they both buy 1 CHF. If the CHF is appreciating against these, this would lead us to short USD/CHF and CAD/CHF. As it happens the CAD is also appreciating against the USD. USD/CAD is declining.

So if you were deciding which pair, USD/CHF or CAD/CHF to short, the choice should fall to USD/CHF. Although both USD and CAD are weakening against the CHF, the USD is the weakest of the three.

If you shorted USD/CHF and CAD/CHF at the same time your profit should be greater in the USD/CHF pair.

I am looking at two positions, one taken last night in USD/CHF and one in CAD/CHF. Both in profit but the USD/CHF appears to be in more profit.
USD/CAD is moving down at the moment.
  • #92,639
  • Mar 31, 2011 4:35am Mar 31, 2011 4:35am
Seeing who's in the market at any one time is very important. Being able to spot the consistent losers is very easy, and extremely lucrative! Once we can see them, we can take their money.
I was one of them for a while, buying on a strong move up, following the stampede, elated at the speed of the move, only to have price turn on a penny and have me move my SL farther into loss in the futile hope of price going my way again.

Give me a minute and I'll draw up a chart (I hate cherrypickers and will not do it myself) showing where I traded as a consistent loser and where the consistent winners took my money.
  • #92,640
  • Mar 31, 2011 5:11am Mar 31, 2011 5:11am
Hi Ifmyante

originally from near Belfast now living in the Caucasus

trade just triggered now dropping like a stone - will jump ship at my 1% at 1.6085 ish

also cad chf has broken out of a LTF trend so will keep an eye on that one too

where u from?
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