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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

  • #94,181
  • Apr 21, 2011 7:27am Apr 21, 2011 7:27am
Quoting Dan-FX
Yes TD does mention he learnt a lot from J16. Worth reading the whole thread if you can, maybe just his posts and comments, there are some real gems in there. It is very similar to the early posts in this thread where Jim posted chart after chart, kind of drums the message home of what you're looking for
Thanks Dan! Yes I will go on with the thread for sure. Some things are familiar and some are very new to me.
  • #94,182
  • Apr 21, 2011 7:39am Apr 21, 2011 7:39am
Quoting Adilius07
Thanks Dan! Yes I will go on with the thread for sure. Some things are familiar and some are very new to me.
do you mind posting the link to this thread?
thanks
meine augen sind die sterne
  • #94,183
  • Apr 21, 2011 7:51am Apr 21, 2011 7:51am
Quoting aserbfx
do you mind posting the link to this thread?
thanks
Sure, here you go:

http://www.trade2win.com/boards/firs...y-trading.html
  • #94,184
  • Apr 21, 2011 8:04am Apr 21, 2011 8:04am
Quoting Dan Gilbert
I don't intend to hold any positions for "months"

I use the 8700 round number, and added 23 pips for buffer.

I may end up shutting it down before then with a S/L moved into profit.

Mike has posted some breakouts like this in the past, where he just targeted round numbers when you start to head into "no-mans land"...

I think based on momentum, I could get my target of 8700 reached within this week, if not, I may shut it down manually. I'll keep you posted.
Yep right on Dan.

This is exactly what I would have wanted to see as well. I would for sure have my stop above todays high at worst and see if we get some follow through.

Best
Mike
  • #94,185
  • Apr 21, 2011 8:08am Apr 21, 2011 8:08am
Quoting Syu_z
Hi guys, good day to you all.

Have been reading James16 Chart thread for quite sometime now. I am a newbie trader with only a few trade experiences on demo account. Luckily for me, those trades turned out really well. I am pretty sure it wasn't due to any skill of mine though, I probably was having some beginner's luck.

I started demo trading after I had read up a few books, and I have no intention to give my money to the market. Although it's inevitable (as many people and books have pointed out), I want to protect my capital as much as possible...

Welcome Syu

Glad to have you , and I think PA and learning S/R especially how James introduced it is only going to help your trading. Even if you use it to help compliment something you are already comfortable with.

Look forward to your posts

Best
Mike
  • #94,186
  • Apr 21, 2011 8:33am Apr 21, 2011 8:33am
hi traders,

any thoughts about this buob? closed above 0.9500

happy trading
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  • #94,187
  • Apr 21, 2011 8:40am Apr 21, 2011 8:40am
Quoting trader3000
hi traders,

any thoughts about this buob? closed above 0.9500

happy trading
Hey T3000

I put some thoughts on a chart for you

Best
Mike
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  • #94,188
  • Apr 21, 2011 10:28am Apr 21, 2011 10:28am
Quoting mbqb11
Hey T3000

I put some thoughts on a chart for you

Best
Mike

In other words, weak buying? If price managed to take out that low and close near it... could we interpret it as that buyers are more enthusiastic atm?

/ Shuan
  • #94,189
  • Apr 21, 2011 10:47am Apr 21, 2011 10:47am
Quoting Wakanapi
In other words, weak buying? If price managed to take out that low and close near it... could we interpret it as that buyers are more enthusiastic atm?

/ Shuan
Hey Shuan

It doesn't necessarily mean weak buying, but the thing is how strong is it to place an actual trade? See the difference there? I like that its closing over the BRN, but we can't ignore the other pieces. If price could have closed over that low, that would change the entire story for me from an actual trade perspective. Does it make that BUOB not tradeable? Definitely not, we just need to understand the other moving pieces and decide how we will react there.

Updated chart
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  • #94,190
  • Apr 21, 2011 11:47am Apr 21, 2011 11:47am
This is purely based off of James16's method.

After struggling for a while, started to see some real good winner.

Thanks all.

comments are welcome.

From this point on, if the price withdraws, I will take the ~400 profit, if it goes up, I will look for PA to add more position.

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  • #94,191
  • Apr 21, 2011 11:47am Apr 21, 2011 11:47am
Hi Mike,

I noticed that the GBP has not been bought the last four hours on the small down move.

Could there be a correction into the 6430 are possible?
  • #94,192
  • Apr 21, 2011 11:52am Apr 21, 2011 11:52am
Quoting stewrigh
Works for me lol.

Attachment
Me too ,
these are just news related events l think,what ever the case, show great oversold levels these are gold nuggets!!
  • #94,193
  • Apr 21, 2011 11:58am Apr 21, 2011 11:58am
Quoting leelar
This is purely based off of James16's method.
...comments are welcome..
hello leelar,
what was entry setup? entry price?

awesome trade
  • #94,194
  • Apr 21, 2011 12:13pm Apr 21, 2011 12:13pm
Quoting supremeChaos
hello leelar,
what was entry setup? entry price?

awesome trade
SC, I love your charts, thanks for the support.

It was just simple BUOB off Resistence turned Support.

Thanks you very much.

These are my journal:

3/30:
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4/17:
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4/20:
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  • #94,195
  • Apr 21, 2011 12:16pm Apr 21, 2011 12:16pm
Thanks James and everyone who helped.

This is another winner with James16's method:

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  • #94,196
  • Apr 21, 2011 12:21pm Apr 21, 2011 12:21pm
Quoting mbqb11
Hey Shuan

It doesn't necessarily mean weak buying, but the thing is how strong is it to place an actual trade? See the difference there? I like that its closing over the BRN, but we can't ignore the other pieces. If price could have closed over that low, that would change the entire story for me from an actual trade perspective. Does it make that BUOB not tradeable? Definitely not, we just need to understand the other moving pieces and decide how we will react there.

Updated chart
Wow I get it, I've been reasoning similar to that but the difference is I haven't been aware of my reasoning until you just mentioned it (sounds damn stupid yea haha).

For instance yesterday we had a mediocre pinbar on the EURCHF pair, I was considering to "scalp" it to its FTA but I passed it beacuse I would be more confident in the potential scalp if price would bounce off the BRN 1.30000 (i.e. a larger bar + stronger confluence).

Thanks for the help of making me aware of something I weren't really aware of lol.

Regards
Shuan
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  • #94,197
  • Apr 21, 2011 12:27pm Apr 21, 2011 12:27pm
Quoting leelar
...
It was just simple BUOB off Resistence turned Support.
..These are my journal:...
i see. thank you for your charts.
so, it's a BUOB trade.
well done.

manage it 'well', if u think u havent yet
keep it up!
  • #94,198
  • Apr 21, 2011 1:30pm Apr 21, 2011 1:30pm
Quoting aserbfx
i don't use the finviz screener very much, but here is a nice chart with a possible breakout today. nsh on daily
remember: "this stuff is dirt simple, guys"...
-------------
and this here, too.
long since 37.57 usd. currently 38.02 usd. a profit of about 1.2% in 5 hours. i am out here.
wooohooo
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meine augen sind die sterne
  • #94,199
  • Apr 21, 2011 1:43pm Apr 21, 2011 1:43pm
Quoting supremeChaos
i see. thank you for your charts.
so, it's a BUOB trade.
well done.

manage it 'well', if u think u havent yet
keep it up!
I am always open to learn. Give me criticism, it is all welcome.

  • #94,200
  • Apr 21, 2011 2:25pm Apr 21, 2011 2:25pm
Quoting aserbfx
remember: "this stuff is dirt simple, guys"...
-------------
and this here, too.
long since 37.57 usd. currently 38.02 usd. a profit of about 1.2% in 5 hours. i am out here.
wooohooo
Well done! Keep the good work up

Is there any particular reason why you trade mostly stocks?

Regards
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