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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

  • #97,881
  • Jul 5, 2011 1:04pm Jul 5, 2011 1:04pm
so u go to church, but you evicted people in a forclosure home so u can profit?

jesus might have a problem with that.

Quoting jp1900
I'm not sure if this is the right place to post this message, so please move it if you deem necessary. Let me provide a little context. I am a newbie researching Forex. I've done well in my career and have always enjoyed following the financial markets. Forex to me offers another possibility to make money.

I've seen a number of posts questioning the motives of James and the Private Forum. I am not a member of the private forum and have never been there. My take on all of this is that James is here to provide you with an edge. You become a member...
  • #97,882
  • Jul 5, 2011 1:18pm Jul 5, 2011 1:18pm
Nice pin off a weekly PPZ, shame about the traffic..
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Anything can happen.
  • #97,883
  • Jul 5, 2011 1:21pm Jul 5, 2011 1:21pm
I think these weekly PPZ levels are going to become mandatory for any trade I take now
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Anything can happen.
  • #97,884
  • Jul 5, 2011 1:22pm Jul 5, 2011 1:22pm
Quoting Razorman
so u go to church, but you evicted people in a forclosure home so u can profit?

jesus might have a problem with that.
Someone will have bought the house and had to evict them. Blame the previous owner for putting it up for sale
Anything can happen.
  • #97,885
  • Jul 5, 2011 1:40pm Jul 5, 2011 1:40pm
Quoting deankenny21
HI, yes i use fxpro also to chart, and your daily chart you posted up is EAXACTLY how im seeing mine, its not a long pinbar, pretty short, but my first go at it, so im really only trading for education at the moment, see how it turns out, look back at it etcetc
Like i said this isnt a pinbar, this is an indecision bar. Anyway trading on demo for educational puproses is the best. Becacuse you learn the best from your own mistakes. At least thats how it worked/works for me. Happy trading.
  • #97,886
  • Jul 5, 2011 1:44pm Jul 5, 2011 1:44pm
Quoting mrhb30jr
Hi Mike,

what do you think EUCAD D1,
SELL entry 1.3945 SL above BRN 1.4005 TP 1.3591 (R:R 7:1)
two IB state around BRN and rising TL break out at 3 day candle

brgds,
maxy
Hey Maxy

I don't mind the IB bar play off the BRN. i would be cautious with expecting such a huge move from it. Not that it can't but this pair has been choppy and till proven otherwise I always believe a pair will be more likely to be choppy then not. Just be sure to protect yourself once it gets moving no need to take a loss, if it runs it runs

Best
Mike
  • #97,887
  • Jul 5, 2011 1:48pm Jul 5, 2011 1:48pm
silver approaching upper trend channel.
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meine augen sind die sterne
  • #97,888
  • Jul 5, 2011 1:49pm Jul 5, 2011 1:49pm
Quoting deankenny21
thanks dude, are you a part of James16 private group, you seem to be a popular member here?
He's not just a private group member, besides james16, jarroo and a few other members he's a legend on this forum. They have selflessly helped hundreds of new members to start trading the james16 way. Me including. And for that i will be always grateful to them. All i have to say is

BTW where is jarroo? Its strange not seeing him post for more than a day.
  • #97,889
  • Jul 5, 2011 2:31pm Jul 5, 2011 2:31pm
Quoting Mr Trend
Heh... Mike's been around for awhile. Hell, I remember when he was just a little squirt trying to figure out what a pinbar was...

Yessiree those were the days... hic!
lolol

I can't even believe I have been at this almost a decade. Where the heck does the time go

Mike
  • #97,890
  • Jul 5, 2011 2:31pm Jul 5, 2011 2:31pm
Quoting ppfx
He's not just a private group member, besides james16, jarroo and a few other members he's a legend on this forum. They have selflessly helped hundreds of new members to start trading the james16 way. Me including. And for that i will be always grateful to them. All i have to say is

BTW where is jarroo? Its strange not seeing him post for more than a day.
shucks thanks pp

Jarroo is around hes got his own section in the PF now so it's tough to juggle it all, but he will no doubt be around here time to time

Mike
  • #97,891
  • Edited 3:12pm Jul 5, 2011 2:31pm | Edited 3:12pm
still 30 min to go, but disney seems to return in the rectangle. stock is in a big uptrend since feb 09. a close above 40 usd is very bullish and may result in a further rise.

EDIT: closed below 40 usd and nearly in the middle of the daily candle. dis had 4 positive days in a row. maybe a little to much for now. a very conservative entry will be with a limit of about 39 usd (strong support at 38.80 usd).
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meine augen sind die sterne
  • #97,892
  • Jul 5, 2011 2:45pm Jul 5, 2011 2:45pm
jnj on daily. a nice breakout on a neutral nyse-day. next target would be 70 usd.
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meine augen sind die sterne
  • #97,893
  • Jul 5, 2011 3:02pm Jul 5, 2011 3:02pm
Hi guys,

I'm currently looking to the EURCHF. It seems interesting to me for different reasons
1°) Shape: BIG DBHLC.
Nearly strong close (it will be the condition to pull the trigger)

2°) Location :
Retracement of the huge downtrend --> in direction of the trend
S/R levels identified corresponding to the BRN (1,23 & 1,21 & 1,20)
Confluence between 2 fib levels (38,2 & 23,6) and the BRN 1,23

3°) Space : if it closes below 1,21, 1,20 seems to be a clear target

Conclusion : if it closes below 1,21 --> short TP 1,2010 & SL 1,2360

Your comments would be highly appreciated.

Thank you

D.
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  • #97,894
  • Jul 5, 2011 3:29pm Jul 5, 2011 3:29pm
Quoting ddinnov
Getting there..
i went short on EUR JPY after close of yesterdays candle, short pin up into resis and round number, i just took some profits off the table at +39pips with SL to BE

ps: what does the abbreviation BRN mean, i beein doing forex for 8 months, and this thread first time i come across it
  • #97,895
  • Jul 5, 2011 3:32pm Jul 5, 2011 3:32pm
Quoting deankenny21
i went short on EUR JPY after close of yesterdays candle, short pin up into resis and round number, i just took some profits off the table at +39pips with SL to BE

ps: what does the abbreviation BRN mean, i beein doing forex for 8 months, and this thread first time i come across it
Big round number - meaning every 500 pips. For the EJ it would be 115.00, 200.00, etc. Pinbars signature has a link to all of the j16 abbreviations.
  • #97,896
  • Jul 5, 2011 3:35pm Jul 5, 2011 3:35pm
Quoting mbqb11
lolol

I can't even believe I have been at this almost a decade. Where the heck does the time go

Mike
Now if we can just make you a Cardinals fan, we'd be all set... bruahahaha!
Mr. Trend
  • #97,897
  • Edited 3:50pm Jul 5, 2011 3:45pm | Edited 3:50pm
Quoting dede777
Hi guys,

I'm currently looking to the EURCHF. It seems interesting to me for different reasons
1°) Shape: BIG DBHLC.
Nearly strong close (it will be the condition to pull the trigger)

2°) Location :
Retracement of the huge downtrend --> in direction of the trend
S/R levels identified corresponding to the BRN (1,23 & 1,21 & 1,20)
Confluence between 2 fib levels (38,2 & 23,6) and the BRN 1,23

3°) Space : if it closes below 1,21, 1,20 seems to be a clear target

Conclusion : if it closes below 1,21 --> short TP 1,2010 & SL 1,2360

Your...

Seems like a very interesting point to look at doing something like this. I will say that before saying anything about the trade itself that you have a very clear and thought out plan that will go a long way towards minimizing your risk on this trade.

Things I like:
-Reaction off of a major PPZ and also, though a bit less important, the 38.2 fib from the run down.
-definitely with the trend and just after a retrace to the 38.2
-In your trade it would not be looking to battle with the 1.2 BRN

Not so keen on:
-Big SL on the trade, but it is neccessary to get behind a very strong point of resistance.
-Above makes the RR not the greatest
-Large bearish bar today

You have a clearly defined plan and that is one of the most important items. Overall my gut instinct says it is much more likely to hit the 1.2 than the S/L of 1.2360. Would just say that this is one that I would be looking for a quick reaction and some sort of move to BE. I would NOT want to take a full bar loss.

Best of luck no matter your decision,
Ryan
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  • #97,898
  • Jul 5, 2011 4:12pm Jul 5, 2011 4:12pm
I'm on the run right now but will someone please post a chart of Daily NZDUSD?

On my mobile it looks like a bearish outside engulfing candle. It also looks to be at a round number, at a swing high and possibly have closed with a good close for the first trouble area to be a good enough amount away.
  • #97,899
  • Jul 5, 2011 4:13pm Jul 5, 2011 4:13pm
Quoting gungriffin
Seems like a very interesting point to look at doing something like this. I will say that before saying anything about the trade itself that you have a very clear and thought out plan that will go a long way towards minimizing your risk on this trade.

Things I like:
-Reaction off of a major PPZ and also, though a bit less important, the 38.2 fib from the run down.
-definitely with the trend and just after a retrace to the 38.2
-In your trade it would not be looking to battle with the 1.2 BRN

Not so keen on:
-Big SL on the trade, but it is neccessary...
Hey Gungriffin,

Thank you very much for your feedback, very much appreciated.

Concerning the stop loss, I have understood by reading the thread that the R:R ratio doesn't really matter --> it is the probability of reaching the first FTA that has to be taken into consideration. As I'm a newbie, I systematicaly place my SL above/below the bar, whatever the R:R ratio.

Can you say me where you would have placed your SL & TP?

Thank you in advance.

D.
  • #97,900
  • Jul 5, 2011 4:19pm Jul 5, 2011 4:19pm
Quoting crusen
I'm on the run right now but will someone please post a chart of Daily NZDUSD?

On my mobile it looks like a bearish outside engulfing candle. It also looks to be at a round number, at a swing high and possibly have closed with a good close for the first trouble area to be a good enough amount away.
Concerning the NZDUSD, it is a pass for me due to the fact that :
- shape : not a real BUOB & the close is quite weak
- location : swing high : yes but just above a S/R level
- space : 0,82 in sight and a lot of traffic around it

Just my 2 cents

Comments are of course welcome

Thank you

D.
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