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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

  • #99,841
  • Aug 3, 2011 11:32pm Aug 3, 2011 11:32pm
more charts
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  • #99,842
  • Aug 3, 2011 11:34pm Aug 3, 2011 11:34pm
charts
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  • #99,843
  • Aug 3, 2011 11:37pm Aug 3, 2011 11:37pm
morre charts
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  • #99,844
  • Aug 3, 2011 11:39pm Aug 3, 2011 11:39pm
Why not spend time doing this whether your trading them or not?

I love doing this.

July was a slow month for me due to my surgery but i was 2 for 3.

I will post those in about a month.

Jim
  • #99,845
  • Aug 3, 2011 11:57pm Aug 3, 2011 11:57pm
Can this Doji considered as BuOB?
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  • #99,846
  • Aug 4, 2011 1:03am Aug 4, 2011 1:03am
Thanks for your responses, guys...
  • #99,847
  • Aug 4, 2011 1:09am Aug 4, 2011 1:09am
Quoting james16
[indent]In the group i have a section called price predictions. I will share those here after a month or so.

Total predictions for june was 8 and all 8 were accomplished.

The question for you is can you do the same? Sure you can.

Total pips? I dont know you can go look and count them.

The purpose of the exercise is to make succesful calls.

This is about predicting price movement and building incredible confidence by demonstrating extremely high accuracy.

[b][u]If i can have an 80 plus percent hit rate on good set ups do you...
Wow, thanks James
believe me, it helps a lot!

kpt
  • #99,848
  • Aug 4, 2011 1:33am Aug 4, 2011 1:33am
Quoting james16

In the group i have a section called price predictions. I will share those here after a month or so.

Total predictions for june was 8 and all 8 were accomplished.

The question for you is can you do the same? Sure you can.

Total pips? I dont know you can go look and count them.

The purpose of the exercise is to make succesful calls.

This is about predicting price movement and building incredible confidence by demonstrating extremely high accuracy.

[b][u]If i can have an 80 plus percent hit rate on good set ups do you...

WOW! This start to look interesting! So in the group peple can see trades before they happen? That one fact worth joining. Not because one could use those calls to trade (I don't think people are so lazy that don't even wish to make their OWN analysis) but to build confidence. If I see that someone can really "predict" price movement with the method I would really gain confidence in the method. And then all I need to do is just make myself to comply with the method. That's all.

Don't get me wrong but analysis of past price action of course is helpful to us newbies but is really not the same as these "prediction" charts you just showed, James. So if there is such thing in the group its awesome.

One question please. How come you have never told us that in the group there are setup calls BEFORE the trade is completed?
  • #99,849
  • Aug 4, 2011 2:02am Aug 4, 2011 2:02am
Anyone tell me why this pin on au would've not been a good trade, or was it just one that didn't work out?
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  • #99,850
  • Aug 4, 2011 2:03am Aug 4, 2011 2:03am
nice Bullish OB on e/u .Anyone going to take it ?
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  • #99,851
  • Aug 4, 2011 2:13am Aug 4, 2011 2:13am
Quoting forex1962
Anyone tell me why this pin on au would've not been a good trade, or was it just one that didn't work out?
It did work.Just my thoughts.
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Nothing personal,just business
  • #99,852
  • Aug 4, 2011 2:14am Aug 4, 2011 2:14am
Quoting fxgroup
It did work.Just my thoughts.
I see we were in a strong downtrend but I thought the pa of the pin suggested a move back up?
  • #99,853
  • Aug 4, 2011 2:16am Aug 4, 2011 2:16am
Hi all,

I understand that risk-reward doesn't really come into it when trading purely A-grade setups, and James has mentioned that he's quick to lock in 30-40 pips and move stop to BE in order to take some profit and protect capital. All good!

But... what happens when price moves far enough to trigger your entry and then reverses into draw-down? How far do you let it go against you, say if you're positioned with a 150-pip stop and you were originally targeting what you thought was a guaranteed 50-odd pips?

Thanks
JR
Be happy, be humble.
  • #99,854
  • Aug 4, 2011 2:26am Aug 4, 2011 2:26am
Quoting james16
more charts
I look at your prediction charts James, and I think to myself on eveyone one - 'I was convinced it was going there too, but didn't take it because the FTA is so close'.

My concern would be that I wouldn't want to move to BE at these levels, as they're too close for risk of being stopped on a small retracement. And halving my position size at the levels wouldn't seem worth it, if I had an initial full bar stop. I sure wouldn't want to exit the trade if I think there's a possibility of it continuing onwards. Is there any general advice you could give on how you would approach this problem? I'm sure I've overlooked something in J16 post 1 here, I'll go back through and try and answer my question anyway..

But many thanks for the recent posts, it's strange how I can still learn something new 2 years down the line after following the same method. Trading really isn't much like anything I've ever studied before. Appreciate the charts.

Quoting Adilius07
Not because one could use those calls to trade (I don't think people are so lazy that don't even wish to make their OWN analysis) but to build confidence. If I see that someone can really "predict" price movement with the method I would really gain confidence in the method. And then all I need to do is just make myself to comply with the method. That's all.
Good point Adi, that's exactly how I feel about this.
  • #99,855
  • Aug 4, 2011 2:32am Aug 4, 2011 2:32am
Quoting forex1962
I see we were in a strong downtrend but I thought the pa of the pin suggested a move back up?
Not necessarily a move back up,but a consolidation in that area.Look at the pin in top of consolidation with the mail trend.If I would have traded 4h,that pin bar with the trend ti would be even better for me.Just mine.
Nothing personal,just business
  • #99,856
  • Aug 4, 2011 2:37am Aug 4, 2011 2:37am
Quoting forex1962
I see we were in a strong downtrend but I thought the pa of the pin suggested a move back up?
yes Sir, but, like u said, it is merely a suggestion, not a guarantee.
u still have to assess the overall situation (trend, traffic, etc)

just like in a road intersection.
when the light is green ("Go" signal), u still look left/right to assess the situation. u dont just drive straight though, oblivious of your surrounding.

Quoting J-r
...
But... what happens when price moves far enough to trigger your entry and then reverses into draw-down? How far do you let it go against you, say if you're positioned with a 150-pip stop and you were originally targeting what you thought was a guaranteed 50-odd pips?...
R:R comes into it, but it's not a priority. IMHO, u can use it more like a gauge rather than a criteria for good/bad.
the answer lies in your trading personality. so it will be different for everybody.

assuming the setup is A+, u can opt to
-sail through the drawdown.
-exit at a certain area which u think needs to hold (as support or resistance).
-exit a portion of position to reduce risk

if the setup is not A+, & u just realized it, u can decide to exit ASAP, with a profit/loss..

we will handle it differently. u just have to find what suits you.



Many thanks for the charts, Sir James16!
  • #99,857
  • Aug 4, 2011 2:41am Aug 4, 2011 2:41am
Quoting piru16
nice Bullish OB on e/u .Anyone going to take it ?
Hello piru16,
the more important question is will YOU take it? why/why not?
discuss it here with the others. u will learn more & FASTER this way
  • #99,858
  • Aug 4, 2011 2:57am Aug 4, 2011 2:57am
Quoting supremeChaos
Hello piru16,
the more important question is will YOU take it? why/why not?
discuss it here with the others. u will learn more & FASTER this way
Not A+ setup .Not a swing rather little congestion.but if it breaks up through it may be interesting
Looking on weekly chart i am more bearish atm and hope it will fall more
  • #99,859
  • Aug 4, 2011 3:35am Aug 4, 2011 3:35am
Quoting forex1962
Anyone tell me why this pin on au would've not been a good trade, or was it just one that didn't work out?
wasn't worth the hassle... your high/nose is at 1.0755. Given the current volatility, even if it's on h4, you'd want at least 15 pips above the nose. That puts you at 1.077.

1.077-1.08 is the key/pivot/name it how you want area of aud/usd for this year... It's more or less the most important zone on the chart in the last 6 months.

Had an alarm if it went above 1.0815-1.082. And would've went with it on a close over 1.08. Which never happened.

Much like eur/aud and aud/cad you can see posted yesterday - aud/cad didn't have a close over 1.035 and eur/aud didn't have a close under 1.3265(you might think a close under 1.33 would be enough, but in that case, it'd be a very big chance it'd be reversed at 1.3265 - here's a crappy explanation why, I'm sure you can find 20 better in the thread as I'm a disaster at explaining things, but don't know where - http://www.forexfactory.com/showthre...70#post4819970). Or you could do a quick 1.33 - 1.327 on H1 or M30 in eur/aud, but doubt it'd be worth the hassle given transaction costs are 5.5 pips, so ~18% of projected gain. But again, none of them triggered.

Much like the aud/usd - never triggered.
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  • #99,860
  • Aug 4, 2011 4:27am Aug 4, 2011 4:27am
Quoting J.W. Holmes
Understood, I see now. this is what I am looking at with this pair.
I saw the same thing J.W. . . .chart is a bit messy . .I missed the long entry at the 2 Bar High.
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Indicators show the past. Price Action "Indicates" the future.
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