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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

  • #93,281
  • Apr 8, 2011 1:15pm Apr 8, 2011 1:15pm
Quoting the_wizard
Hey guys,

I've been getting a fair few pms about my setups so I thought I might run an informal webinar on Sunday evening before the FX open.

I'm just going to go through some trades I've taken recently, discuss what I'm looking at in the week ahead and give a few pointers on how I trade with maybe a few war stories from my time in prop trading (the guy that did 1200 lots in the S&P just before non-farms and walked off to get some lunch is the best). If you've got any questions, I'll answer those too :-)

I've been a J16 follower since near...
That is splendid news Wiz!

Count me in.



g.
I believe . . .
  • #93,282
  • Apr 8, 2011 1:26pm Apr 8, 2011 1:26pm
Quoting the_wizard
Hey guys,

I've been getting a fair few pms about my setups so I thought I might run an informal webinar on Sunday evening before the FX open.

I'm just going to go through some trades I've taken recently, discuss what I'm looking at in the week ahead and give a few pointers on how I trade with maybe a few war stories from my time in prop trading (the guy that did 1200 lots in the S&P just before non-farms and walked off to get some lunch is the best). If you've got any questions, I'll answer those too :-)

I've been a J16 follower since...
hey wiz
add me too....
  • #93,283
  • Apr 8, 2011 1:34pm Apr 8, 2011 1:34pm
Quoting ghous
Hi P,

EUR/GBP will need to close below 8800 if it has to even fall within my radar for next week. But if we do get a close below the shape will distort in that the body would be large and the nose very small.

Moreover I am finding it tough to locate a single horizontal price level . . . a brick wall to validate the location but the best I could do was to fine tune a range of prices between 8800 and 8850. Again not something I am comfortable with when trading IPBs. The PPZ for me needs to be very precise and conspicuous with the right close,...
Never miss your post,even if i know wat ur thoughts are!!
  • #93,284
  • Apr 8, 2011 1:38pm Apr 8, 2011 1:38pm
Quoting the_wizard
Hey guys,

I've been getting a fair few pms about my setups so I thought I might run an informal webinar on Sunday evening before the FX open.

I'm just going to go through some trades I've taken recently, discuss what I'm looking at in the week ahead and give a few pointers on how I trade with maybe a few war stories from my time in prop trading (the guy that did 1200 lots in the S&P just before non-farms and walked off to get some lunch is the best). If you've got any questions, I'll answer those too :-)

I've been a J16 follower since near...

I'm also interested
  • #93,285
  • Apr 8, 2011 1:40pm Apr 8, 2011 1:40pm
Quoting pex
hey wiz
add me too....

Will do, buddy...

Oh and before I forget...

The S&P is going to get interesting...
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  • #93,286
  • Apr 8, 2011 1:48pm Apr 8, 2011 1:48pm
I would love to hear some thoughts on the DBHLC on 4H ES. It has touched this top several times but is there too much junk to the left?

Thanks
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  • #93,287
  • Apr 8, 2011 2:05pm Apr 8, 2011 2:05pm
Quoting aserbfx
eur/chf is forming a boat. a close below 1.3050 on a daily in the next days would be nice to see it sinking.
Aser you made my day tooday ... i didnt laugh so hard in ages
Im not being disrespectful or any thing its just that i love the picture and your idea/words how you would like it to unflod .
  • #93,288
  • Apr 8, 2011 2:10pm Apr 8, 2011 2:10pm
Quoting rackem89
I'm also interested
No probs.

Just so the thread doesn't get clogged up and everyone can concentrate on the setups, can I ask anyone else to pm me if you want to join the webinar and provide me with your email address. I will send out the login on Sunday and that's it. I hate spam more than I hate lightning :-)

If you can't pm, then email me through the site.

Wiz
  • #93,289
  • Apr 8, 2011 2:12pm Apr 8, 2011 2:12pm
Evening Guys
I am looking at this PB set up forming on GBP/JPY
Can anyone advise if my FTA's 1 & 2 look about right and also any other thoughts very much appreciated
Thanks
Malarky
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  • #93,290
  • Apr 8, 2011 2:19pm Apr 8, 2011 2:19pm
Quoting FxPrelude
Aser you made my day tooday ... i didnt laugh so hard in ages
Im not being disrespectful or any thing its just that i love the picture and your idea/words how you would like it to unflod .
me too.
for more check this:
http://www.forexfactory.com/showthread.php?t=185027
meine augen sind die sterne
  • #93,291
  • Apr 8, 2011 2:21pm Apr 8, 2011 2:21pm
Malarky (lovely name),

Your FTA's look correct but this is not a bar I would personally take.



First the bar does not jump out as large, definitely a small bar.
Also the tail does not protrued away from price. Do you see how most of the bar is within the previous bars? This looks like more of a pause to me.

Another important thing to note is to look at the green bars preceding the past few bars. That is a very strong move. Would you want to take this size pin bar against those moves?
Would you want to fight a person with a Machete with safety scissors?

WOW that was an awful analogy.

These are just my thoughts based on your chart. I havent looked at my charts for this one today so I could be completely wrong.

Hope this helps.

Quoting Malarky
Evening Guys
I am looking at this PB set up forming on GBP/JPY
Can anyone advise if my FTA's 1 & 2 look about right and also any other thoughts very much appreciated
Thanks
Malarky
  • #93,292
  • Apr 8, 2011 2:23pm Apr 8, 2011 2:23pm
Quoting the_wizard
No probs.

Just so the thread doesn't get clogged up and everyone can concentrate on the setups, can I ask anyone else to pm me if you want to join the webinar and provide me with your email address. I will send out the login on Sunday and that's it. I hate spam more than I hate lightning :-)

If you can't pm, then email me through the site.

Wiz
Hi Wiz,
It is great idea. Do you often make trading webinars? I would be happy to attend some in the future but just this Sunday evening I go on Slayer / Megadeth concert
Follow my trading on Twitter and FB: @pumlitch
  • #93,293
  • Apr 8, 2011 2:29pm Apr 8, 2011 2:29pm
Hey DMC

Thanks for your help, much appreciated.

Yep, after looking at the good points you raise I guess I better put those safety scissors qiuetly back in the draw and tiptoe quietly away from that battle !! .

Cheers

Malarky

Quoting dmc
Malarky (lovely name),

Your FTA's look correct but this is not a bar I would personally take.



First the bar does not jump out as large, definitely a small bar.
Also the tail does not protrued away from price. Do you see how most of the bar is within the previous bars? This looks like more of a pause to me.

Another important thing to note is to look at the green bars preceding the past few bars. That is a very strong move. Would you want to take this size pin bar against those moves?
Would you want to fight a person with a Machete with...
  • #93,294
  • Apr 8, 2011 2:33pm Apr 8, 2011 2:33pm
Quoting aserbfx
me too.
for more check this:
http://www.forexfactory.com/showthread.php?t=185027
omg my head started to hurt after a few of those charts on drugs lol
Can you imagine people trading those chatrs ? i would go
  • #93,295
  • Apr 8, 2011 2:48pm Apr 8, 2011 2:48pm
Quoting aserbfx
eur/chf is forming a boat. a close below 1.3050 on a daily in the next days would be nice to see it sinking.
Hahahaha thatīs nice
I have another nice holly grail 100% win rate pattern its the duck pattern

http://a.imageshack.us/img163/3305/patternz.jpg
BTW: It was only a joke there is no 100% win rate system
  • #93,296
  • Apr 8, 2011 3:06pm Apr 8, 2011 3:06pm
Thanks for the comments supreme. Even though my hours may be "unfortunate" there has to be a gazzilion people in the same boat as I am - anyone with a full time job in the eatern US. So how many times are you saying you have to montior the trade when trading dailies? I do it once - almost excatly half way through the daily bar. I'm not sure why that wouldn't be sufficient. Anyone else have a comment on my post?

Thanks all.
  • #93,297
  • Apr 8, 2011 3:19pm Apr 8, 2011 3:19pm
Thank you so much for clearing up my question regarding the engulfing candles.
Cleared up everything and makes thing more understandable!!
  • #93,298
  • Apr 8, 2011 3:24pm Apr 8, 2011 3:24pm
Quoting john225
Hahahaha thatīs nice
I have another nice holly grail 100% win rate pattern its the duck pattern


BTW: It was only a joke there is no 100% win rate system

i like this, too.
maybe we can generate a system with this.
meine augen sind die sterne
  • #93,299
  • Apr 8, 2011 3:33pm Apr 8, 2011 3:33pm
No problem.

Of course nothing is 100% . I am just giving you some things to think about. Could very well work, but this setup just doesnt jump out enough to put my money on time and time again. Those are the ones to look for.

Quoting Malarky
Hey DMC

Thanks for your help, much appreciated.

Yep, after looking at the good points you raise I guess I better put those safety scissors qiuetly back in the draw and tiptoe quietly away from that battle !! .

Cheers

Malarky
  • #93,300
  • Apr 8, 2011 3:36pm Apr 8, 2011 3:36pm
That is great! lololol

Quoting john225
Hahahaha thatīs nice
I have another nice holly grail 100% win rate pattern its the duck pattern

http://a.imageshack.us/img163/3305/patternz.jpg
BTW: It was only a joke there is no 100% win rate system
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