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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

  • #92,921
  • Apr 4, 2011 6:45pm Apr 4, 2011 6:45pm
Im always humbled and thrilled when people say my stuff is actually helping them.

its why im still here.

thank you,

jim

Quoting Ifmyante
I've never been in the thread at the same time as Jim either.

Feels like the prophet of our religion is breaking bread with us!

Let me take this opportunity to humbly thank James16 for turning my equity curve around
  • #92,922
  • Apr 4, 2011 6:46pm Apr 4, 2011 6:46pm
thank you.

imho spending a few months here first is a great idea.

people do much better when they come in a little educated.

jim

Quoting AndreasF
I spent the last weekend with watching the free excellent videos on J16 website -and want to thank you all for such a great thread.

I'm planning on joining PF end of May, after my return of an extended business trip back to Europe.

I'm trying to get familiar with J16 method and shorted EURCHF H4 on the break of the BEOB.


Cheers
Andreas
  • #92,923
  • Apr 4, 2011 6:58pm Apr 4, 2011 6:58pm
damn dude.



Quoting jarroo
Holy Smokes . . .11,000. . . .
  • #92,924
  • Apr 4, 2011 7:19pm Apr 4, 2011 7:19pm
Quoting james16
thank you.

imho spending a few months here first is a great idea.

people do much better when they come in a little educated.

jim
Good to see ya back. I have learned a lot in the last month thanks to you and Mike.
"Don't trade to trade . . . trade to win." - James16
  • #92,925
  • Apr 4, 2011 8:06pm Apr 4, 2011 8:06pm
Quoting mbqb11
Hey Malarky

Yep you got it, adding PPZ as part of confluence and then areas to watch is what it is all about. We never need too much on our charts

As for Money Mgmt, it's all about position sizing. If I risk 2% per trade, it doesn't matter if my stop loss is 20 pips or 200 pips, they both represent 2% risk. I simply adjust my position size so the loss exceeds my risk tolerance.

You can read more here about MM

http://www.forexfactory.com/showthre...light=beginner

Best
Mike
Mike, quick question about MM. Do you risk the same percentage of your account on a 4H set up as you do on a weekly set up?

Thanks
  • #92,926
  • Apr 4, 2011 8:14pm Apr 4, 2011 8:14pm
Quoting Tap-in
Mike, quick question about MM. Do you risk the same percentage of your account on a 4H set up as you do on a weekly set up?

Thanks
Hey T

Yep all my price action trades have the same risk

Best
Mike
  • #92,927
  • Apr 4, 2011 9:41pm Apr 4, 2011 9:41pm
Welcome Hame Lad.

Sit ye doon. Ah g't the remedy fer whitever ails ye.


Guid tae see yi again ma Friend.

B
  • #92,928
  • Apr 5, 2011 12:18am Apr 5, 2011 12:18am
Quoting Bemac
Welcome Hame Lad.
Sit ye doon. Ah g't the remedy fer whitever ails ye.
Guid tae see yi again ma Friend.
Guid tae see yi again, too, Sir 'Mac'

Quoting jarroo
Holy Smokes . . .11,000. . . .

i predict u will hit/visit the 13000 BRN area by end-2011
  • #92,929
  • Apr 5, 2011 12:18am Apr 5, 2011 12:18am
Seeing a ton of areas to watch, but not much PA to go with it. Watching the 1.5000 BRN on GBPCHF.....which happens to be the 50% retracement level, almost to the pip.
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  • #92,930
  • Apr 5, 2011 12:40am Apr 5, 2011 12:40am
Quoting Donkey
Seeing a ton of areas to watch, but not much PA to go with it. Watching the 1.5000 BRN on GBPCHF.....which happens to be the 50% retracement level, almost to the pip.
looking at your chart..
if 1.4800 - 1.4870 area holds as support (see the horizontal line in your chart @1.4876 acting as a nice PPZ), i think it's almost ripe for a move towards 1.54 - 1.56 area.

along the way, potential trouble spots are
1.50 (not given a lot of respect as seen on the chart, as price zigzags through it)
& 1.51 - 1.52 area.
  • #92,931
  • Apr 5, 2011 12:42am Apr 5, 2011 12:42am
Quoting Be Cool
Thanks for making time to still be here, Jim
What would we do without you
Now lets see if i understand you correctly ...
May i ask what do you mean by the red text above? Do you expect those level to once again act as resistance once PBTCB?
Thanks Jim - I really don't know how you manage your time between day job, PF and here -really appreciate it, bud
Hey Be Cool.

Looks like your target was hit dead on . .nice . .
It would have been a tough one for me to take. .to crowded. But it sure shows that if Price is going to cut through all that traffic, PA will make it happen . . . and that strong 1.3700 PPZ level (location) was sure part of it too.

What I meant by Price respecting those levels was that Price would react to them if Price got there, more so as Support as they did the day or so prior. (indicated in yellow)

Now it the Daily or Weekly bar closed below the 1.3700, I could see those same levels still have a Price reaction to them but also PBT&CBelow them . . . . and we would see more downward movement.

Hope that makes some sense.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #92,932
  • Apr 5, 2011 1:03am Apr 5, 2011 1:03am
Quoting Osman
Liked the location of this IPB on GBP/NZD but we are in a very strong down trend.
EDIT: IPB closed below 2.100 BRN... a big reason to pass on this setup aside from the strong down trend.
check the huge IPB on top of that downmove (swing high)
this IPB is tiny compared to that one.
just noticed it, so i thought of mentioning it.
  • #92,933
  • Apr 5, 2011 1:17am Apr 5, 2011 1:17am
Quoting ts63
My targets are the red lines. My stop is at BE+20, I'm patiently waiting for the RBA rate decision in 11 hours (will people sell the news ?).
I didn't mean to so short which my post, ts. . .sorry about that.

That target was really close for such a small PB on the 4 hour time frame in a strong uptrend. Moving to BE quickly was a smart move. Looks like your target was hit . . nice one.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,934
  • Apr 5, 2011 1:20am Apr 5, 2011 1:20am
Quoting james16
damn dude.


That's what I said when I noticed it. . .It seems like just last week I had 10,000. . . time and posts fly by when your having fun, I guess. .
Indicators show the past. Price Action "Indicates" the future.
  • #92,935
  • Apr 5, 2011 1:54am Apr 5, 2011 1:54am
Quoting jarroo
Holy Smokes . . .11,000. . . .
10,998 . . 10,999 . . . 11,000 gold nuggets...and counting. . . . .

Attached Image
I believe . . .
  • #92,936
  • Apr 5, 2011 2:07am Apr 5, 2011 2:07am
lol Ghous you made me spill my coffe

I see that the founder of this theread is back wery nice to see you James and thank you for starting this thread i dont know where would most of us be if there wouldnt be people like you , Mike and other seniors here .
This trading style finaly stoped my equty curve go like a hart beat monitor hehe
  • #92,937
  • Apr 5, 2011 2:14am Apr 5, 2011 2:14am
Quoting ghous
10,998 . . 10,999 . . . 11,000 gold nuggets...and counting. . . . .

lol that's about how I count too lol
Indicators show the past. Price Action "Indicates" the future.
  • #92,938
  • Apr 5, 2011 2:24am Apr 5, 2011 2:24am
Quoting jarroo
Yes that would qualify in my book . .but you would have to use a proxy High (the previous bar high) for your stop loss placement . . that would go above it. FTA would be 1300.

Hey ghous . .looks like this Monthly IPB on the S&P 500 is hanging tough with its proxy high . .we shall see, it could be a long Month or a short one. .lol . . .

later, gotta go

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #92,939
  • Apr 5, 2011 2:27am Apr 5, 2011 2:27am
Quoting jarroo
Hey ghous . .looks like this Monthly IPB on the S&P 500 is hanging tough with its proxy high . .we shall see, it could be a long Month or a short one. .lol . . .

later, gotta go

Jim
It does look like a glorious setup though... we shall see...

g.
I believe . . .
  • #92,940
  • Apr 5, 2011 2:33am Apr 5, 2011 2:33am
Quoting fx_rookie
there were several posts for eurcad on daily, I will add my D1 chart and one more on 12H.
Quoting fx_rookie
I look at lower frames at the moment to precise my entry. on 2H nice PB on 38 Fib Ret.
still working on eur/cad
I see lower frame setup at the moment. on 1H we have a nice PB on Fib Ret, near previous highs - now support zone.
IMHO, if we can close 4H over 1.3750 - we will have a beautiful pic there too.
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