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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

  • #97,261
  • Jun 24, 2011 9:15am Jun 24, 2011 9:15am
a few charts
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  • #97,262
  • Jun 24, 2011 9:23am Jun 24, 2011 9:23am
Quoting PIPtaser
GM all, saw this one, possibly a good bounce play?
Hey Pip

It could be for a bounce but I would be careful with the extent of a bounce to expect. B/c it's friday price may not have the push to break down. But we are coming off very strong bearish move and now price is consolidating. Price likes to break these consolidations with the current momentum, which is down. So be cautious. Also I would say being new to this be VERY cautious playing touch trades(just buying/selling support/resistance) when new. Focus on locations and price action bars to get your footing(it's much easier in my eyes)

Best
Mike
  • #97,263
  • Jun 24, 2011 2:08pm Jun 24, 2011 2:08pm
what do you think about this h&s on eur/usd? i'm waiting for a break of the neckline for entering short on a pullback to this one or after breaking of 1.4
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  • #97,264
  • Jun 24, 2011 4:25pm Jun 24, 2011 4:25pm
Quoting mbqb11
a few charts

http://www.forexfactory.com/attachme...9&d=1308924911

Always love seeing when I am seeing things similarly to mythical Mike


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Was messing around with this chart yesterday and posted a where is price going setup. Always love seeing that I am on track even if I did not take the trade.

To anyone who is new or demoing at the moment I will say that doing this exercise not only greatly helped me to become more accurate, but surprisingly it made it easier to pass on trades. Oftentimes I am right, but I seek to only trade the absolute best. On all of the other subpar trades it helped to at least "prove" to my mind that I could do it, even if I didn't want to take the trade.

Original Chart:
http://www.forexfactory.com/attachme...9&d=1308867554
  • #97,265
  • Jun 24, 2011 4:35pm Jun 24, 2011 4:35pm
Quoting huskyboy
Great help, thanks. Problem is i hate reading, stopped at p.37 last sunday so only 6449 to go . The video's are no problem, love to see them and they are off great value.

On the early pages i read about a private forum (oct 2005); is that pf stil active, if so it must be good, very good.
Hey Husky, I had the same problem and if I may offer some advice which worked great for me is study all charts posted by the J16 Seniors - I focus on James16, Jarroo, and Mqb11 - they all even type notes straight on their charts. To do this, just go these members' pages and view their attachments. This will unquestionably be a thousand times shorter than reading the entire or most of this thread. Also as Supremo said watch the free videos over and over. If/when you're ready I trust it would be well worth the investment to join the J16 PF.

Good Luck!
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #97,266
  • Jun 24, 2011 6:21pm Jun 24, 2011 6:21pm
Hey Friend there,

This is a previous BEOB but I got some confusion here, a nice looking BEOB which engulfs previous 4 bars, I saw someone entered that trade, but looks like the BEOB did not break through the 1.605 that is a small RN and PPZ of support, however the price DID go down as the BEOB enforced...

Did I misundestand some point of the BEOB definition?
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----------------------------- Discipline makes the difference.
  • #97,267
  • Jun 24, 2011 10:43pm Jun 24, 2011 10:43pm
Quoting Bemac
Cool PB. Say hello to Harbin for me. Been there. Done That & Watched the 'T' Shirt being made.

B
Small world eh B.

When were you in Harbin?
Seems from what I gather, it has changed a great deal in the last 15 years or so, even my wife does not recognize half of the place after being away for so long.
  • #97,268
  • Jun 24, 2011 10:47pm Jun 24, 2011 10:47pm
Quoting james16
not a trade rec but i would be very surprised to see it trade below the pin before hitting 1.0350. that level corresponds with the previous bar high. 1.0250 is also solid support.
Hit the nail right on the head there Jim, as always. LoL

I guess this is one for WIPG, and even the less than good setups will hit their FTA.

But from the perspective of a trade, would you have taken this one?
I doubt it but, I may be wrong?
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  • #97,269
  • Jun 24, 2011 11:19pm Jun 24, 2011 11:19pm
Quoting Pinbar
Small world eh B.

When were you in Harbin?
..
First time was '94. The Built roads for us to get to or project.

Ne hoa ma.

B
  • #97,270
  • Jun 24, 2011 11:30pm Jun 24, 2011 11:30pm
i just saw that and came over to see if anyone else saw it.

Yes its a viable trade entry and the reason why was the bar closed above 1.0300. The odds were 90/10 or better i was going to be right. I could have easily said the next bar high at 1.0385. Odds imho were about the same of it reaching that also, which it did.

I just encourage everyone to see how high of a hit rate you can do. Its pretty damn easy after 6 months or so of getting in the 75 plus percent range. Ive been doing it so long its pretty damn hard for me to drop below 90 percent.

Not bragging/just the truth.

Anyone can do it with some time and effort.

I had someone (a person i thought was a friend and is in this commercial forum to this day) say a couple of years ago that "He knew i was a fraud when i made the statement i had gone months without a loss".

I was telling the truth but i understand why thats hard for people to believe.

I dont trade like most people. I trade to win and if that means 1 trade a month then thats what it means.

Hell i can go weeks without a miss calling shit set ups so calling a price prediction on good set ups without a loss for months is very easy for me.

The ones i miss would almost always end in BE anyway so in reality its probably 95 plus percent.

No reason it cant be easy for anyone here.

The fact of that satatement is why this thread and the group continues to prosper.

I would have been an after thought long ago if i didnt teach something that people can learn and actually make work.

Im proud of that and im proud of where you have been and where you are now pin.

Anyone can do it and the obstacle list is short.

Small account size and not treating it like a true business.

Those are the killers.





Quoting Pinbar
Hit the nail right on the head there Jim, as always. LoL

I guess this is one for WIPG, and even the less than good setups will hit their FTA.

But from the perspective of a trade, would you have taken this one?
I doubt it but, I may be wrong?
  • #97,271
  • Jun 24, 2011 11:44pm Jun 24, 2011 11:44pm
Hello James, I saw your post just now and I thought I would take a chance in posting this question. I was going through my early trades (failed ones) trying to see where I was wrong. Mostly I see that my choice was poor, was not picky enough etc. So the loss was fair.

However, I just cannot understand or "see" where was I wrong with this Stock trade. If I don't see the error means I would repeat it in future, which is not what I want to do. So maybe you can point out the mistake?

Here is the loss. The BEOB of pinish shape looked as "certain" to me but still failed. Why? Is it one of those rare events where the setup will just fail, or my choice was poor? Is there a reason to skip this trade?
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  • #97,272
  • Jun 25, 2011 12:15am Jun 25, 2011 12:15am
Quoting james16
i just saw that and came over to see if anyone else saw it.

Yes its a viable trade entry and the reason why was the bar closed above 1.0300. The odds were 90/10 or better i was going to be right. I could have easily said the next bar high at 1.0385. Odds imho were about the same of it reaching that also, which it did.

I just encourage everyone to see how high of a hit rate you can do. Its pretty damn easy after 6 months or so of getting in the 75 plus percent range. Ive been doing it so long its pretty damn hard for me to drop below 90 percent....

Wow , thanks for the analysis Jim.

You said something that sort of opens a can of worms for me.
"Yes its a viable trade entry and the reason why was the bar closed above 1.0300".
On my feed it closed barley right on the 1.0300, and this makes me think that, perhaps I need to check other feeds or just trade what I see on this feed and if it is a pass, don't worry about it.

Also, thanks for the kind comment but please remember, I would not be anywhere at all apart from blowing all my accounts, if it had not been for you and the special understanding you have. You know what I mean, for sure. Thanks again Jim for being straight up guy you are.
Truly, inspiring and this has nothing and everything to do with trading, which you taught me a while ago.
  • #97,273
  • Jun 25, 2011 12:45am Jun 25, 2011 12:45am
Quoting Bemac
First time was '94. The Built roads for us to get to or project.

Ne hoa ma.

B
WO HEN HOU.

What was the project Bemac. The building of the subway?
I bet you drank more than a little of the Harbin beer in the green bottles. The Germans built the beer factory and oversaw it many years ago.
  • #97,274
  • Jun 25, 2011 2:33am Jun 25, 2011 2:33am
Quoting Pinbar
WO HEN HOU.

What was the project Bemac. The building of the subway?
I bet you drank more than a little of the Harbin beer in the green bottles. The Germans built the beer factory and oversaw it many years ago.
"WO HEN HAO. "
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A chart helps those who can read it.
  • #97,275
  • Jun 25, 2011 3:12am Jun 25, 2011 3:12am
would .98250 have been a valid entry; there was a BUOB which came out of the trouble zone and daily/weekly pivot, there is surely an uptrend, brake of the 80.9 fib level and above ema 47, OR are previous highs the reason for not entering ? Thanks.
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  • #97,276
  • Jun 25, 2011 3:15am Jun 25, 2011 3:15am
Quoting teemo
Hey Husky, I had the same problem and if I may offer some advice which worked great for me is study all charts posted by the J16 Seniors - I focus on James16, Jarroo, and Mqb11 - they all even type notes straight on their charts. To do this, just go these members' pages and view their attachments. This will unquestionably be a thousand times shorter than reading the entire or most of this thread. Also as Supremo said watch the free videos over and over. If/when you're ready I trust it would be well worth the investment to join the J16 PF.

Good...
Thanks for the advice, exactly what i was doing and i wonder if there would be a file with all the charts in it ?
  • #97,277
  • Jun 25, 2011 3:28am Jun 25, 2011 3:28am
Quoting huskyboy
would .98250 have been a valid entry; there was a BUOB which came out of the trouble zone and daily/weekly pivot, there is surely an uptrend, brake of the 80.9 fib level and above ema 47, OR are previous highs the reason for not entering ? Thanks.
Hi Huskyboy, how could that bar be tradable? Look at its weak close. The bar closed at the half of its range. Plus we want the bar at the swing low (for longs) or the swing high (for shorts).

Actually the one before (look at the arrow) looks much stronger. See how strong the close is, swing high, space to go. Those are the bars we are looking for (but location is the key).

In general this chart looks really terrible, too much chop for this pair on this TF.

Just my 2 cents.
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  • #97,278
  • Jun 25, 2011 3:56am Jun 25, 2011 3:56am
Quoting Adilius07
Hi Huskyboy, how could that bar be tradable? Look at its weak close. The bar closed at the half of its range. Plus we want the bar at the swing low (for longs) or the swing high (for shorts).

Actually the one before (look at the arrow) looks much stronger. See how strong the close is, swing high, space to go. Those are the bars we are looking for (but location is the key).

In general this chart looks really terrible, too much chop for this pair on this TF.

Just my 2 cents.

great help, thanks, again learned something. Would there have been a reason for shorting the previous bar at swing high?
  • #97,279
  • Jun 25, 2011 4:02am Jun 25, 2011 4:02am
Quoting huskyboy
great help, thanks, again learned something. Would there have been a reason for shorting the previous bar at swing high?
Some do, and most of the time they work. But if you really want to be picky (which I learn myself) choose only those that STICK OUT. Meaning the BEOB must have it's high above previous bars and be the swing bar (i.e. it's high represents the swing high).

Not sure if I explained it ok, just look at this chart, the BEOB right in the middle is the one. Its high sticks out above, it is a swing bar, it has nice strong close, it has room to go. This is A+.

EDIT: Also look for those that are "PITBULL" bars, i.e. skip all small, medium sized once. Trade the true monster

http://www.forexfactory.com/attachme...1&d=1308154281

In general you want to avoid trading in the traffic (like usdcad chart) you want to enter at true SWINGs where your bar is potential swing bar/reversal bar.
  • #97,280
  • Jun 25, 2011 6:05am Jun 25, 2011 6:05am
Quoting huskyboy
would .98250 have been a valid entry; there was a BUOB which came out of the trouble zone and daily/weekly pivot, there is surely an uptrend, brake of the 80.9 fib level and above ema 47, OR are previous highs the reason for not entering ? Thanks.
i was lookin at your chart to comment but i couldnt see the price! i would take a lot of the "stuff" of the chart if it was me, imho you will get a much better feel for PA and the setups that present themselves if you can actually see it
i dont see that fractels will help you much at this stage?( just guessing), and if you want to take note of floor pivots why dont you try and mark in the important ones in a less obscuring way, maybe even just take a note of the prices and leave the chart clean? heres my buissiest charts and they are like this cos i trade them regulary. i try and keep the colours in the background so as not to draw my eye away from price too much... the rest look pretty much untouched compared to these.
jus my view



jon
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