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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

  • #103,761
  • Oct 30, 2011 9:28pm Oct 30, 2011 9:28pm
Yeah, I was waiting for the pullback to 80.602, thought by the LO we would be setup but, it took off without me after not coming all the way back.
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  • #103,762
  • Edited 10:21pm Oct 30, 2011 10:00pm | Edited 10:21pm
We may see a nice strong close below today.

Bmac's Ice also seems to agree, although I would like to hear from the man himself, Tiaforex or Aserbfx about this.

Kind of still tricky for me to work these areas out.

Here is the logic for choosing this box area. as Tiaforex taught me.
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  • #103,763
  • Oct 30, 2011 10:30pm Oct 30, 2011 10:30pm
Quoting jarroo
I couldn't have answered that any better, decentchap. thanks . .
hi Jarroo,
If I'm not mistaken, I think DC was replying to Fascist questions, though I think it did touch on some but not all of my questions. Here's a repost of some of the questions with slight edit:

-Someone asked you abt SL earlier. My question abt SL is how tight do u typically keep it at? Is it always no more than 25-30pips regardless of the TF?

-On touch trade entry: Do u buy at the EXACT HCR or when it comes close to say 5-10pips within HCR as price sometimes comes close by dont touch before turning. What's your buffer?

-Do u set a buy stop/ sell stop for such touch trade entries?

Thanks again for your patience
  • #103,764
  • Oct 30, 2011 11:37pm Oct 30, 2011 11:37pm
Quoting Pinbar
We may see a nice strong close below today.

Hmm, it is looking more and more like just a breather.
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  • #103,765
  • Oct 31, 2011 1:31am Oct 31, 2011 1:31am
@ Pinbar

it may be a breather but it was also an opportunity to buy some cheap £ against the $
  • #103,766
  • Oct 31, 2011 1:44am Oct 31, 2011 1:44am
Quoting antgal23
@ Pinbar

it may be a breather but it was also an opportunity to buy some cheap £ against the $

You could try being more specific and posting a chart.
Also, I hardly think cheap is the operative word at these prices.
In the meantime, I had to switch to FXPRO as my IBFX account was timing out every 2 mins.
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  • #103,767
  • Oct 31, 2011 1:54am Oct 31, 2011 1:54am
here is the chart
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  • #103,768
  • Oct 31, 2011 2:02am Oct 31, 2011 2:02am
Quoting antgal23
here is the chart
Buy in below the VBRN and against such a bearish H4 bar?


You have got to be joking.

It is not what I am into, for sure.
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  • #103,769
  • Oct 31, 2011 2:52am Oct 31, 2011 2:52am
I'm with you Pinbar. It's a kind of risky...
  • #103,770
  • Oct 31, 2011 5:25am Oct 31, 2011 5:25am
Quoting cold chisel
I'm with you Pinbar. It's a kind of risky...

It is very risky indeed and if we look at the former consolidation area, we can see that price is at least for now, back in this zone.

This is the ISH zone Jarroo mentioned.

Take a look at the monthly
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  • #103,771
  • Oct 31, 2011 6:42am Oct 31, 2011 6:42am
Quoting Pinbar
It is very risky indeed and if we look at the former consolidation area, we can see that price is at least for now, back in this zone.

This is the ISH zone Jarroo mentioned.

Take a look at the monthly
hey Steve,

I wanted to ask you if you restrict yourself and take Daily and above tf setups with Jaroo's method or go down lower tf and take the entry there?
Currently i am setting up Monthly and Weekly HCR, LCS on my charts and monitoring the charts on daily basis for flips and PA bars(plus other confluences) for confirmation..
Trading is a test match not a Twenty20.
  • #103,772
  • Oct 31, 2011 7:11am Oct 31, 2011 7:11am
Quoting halfstep
Hi guys,

What other learning resources do you guys use other than J16? Mike feel free to add to some to this, I would like to be a multi-faceted trader : )
Hey Half

I don't personally check anything else trading wise, but the J16thread and most my time in the PF. I simply am at a point where it's more about me. If that makes sense. I am NOT saying there aren't other good resources out there. I am sure there are. I just wouldn't know what to recommend. I have read tons of books, other things and most of it is garbage as it's more about learning and developing and practicing.

Have a great week
Mike
  • #103,773
  • Oct 31, 2011 7:14am Oct 31, 2011 7:14am
Quoting Fx7877
Hi Mike/ Jarroo,
Yen collapsed the last few hrs due to mkt intervention by govt. I know u guys ignore Sunday bars, but in this case where there is a huge move (a few hundred pips) due to govt intervention, will u guys consider the Sunday bar valid?

I attached the weekly USDJPY and EURJPY charts here (well almost weekly as there is abt 20mins more to closing of that bar). Currently its a BUOB. Based on your yrs of experience, for such a big move up, wld u still enter on a break of BUOB or wld entering on a retrace be a safer option? Thks!

Edit:...
Hey FX

My weeklies look very different, but based on your charts I still would not be looking to get into either. Eur/jpy BUOB is not at a swing low and barely engulfing the previous bar. That is approaching a continuation buob which I recommend staying away from till you can get them in the traditional place. Usd/jpy would look much better but I would need to see a close above the VERY important box(former support) area and BRN of the 80 mark.

Best
Mike
  • #103,774
  • Oct 31, 2011 8:34am Oct 31, 2011 8:34am
Hey guys show us any daily or above trades you have taken in last couple of weeks successful or unsuccessful
I was in couple but they didn't trigger.
Trading is a test match not a Twenty20.
  • #103,775
  • Oct 31, 2011 9:08am Oct 31, 2011 9:08am
Interesting PB forming off GBPUSD 1.6000 and the EMAs. Quite different from a reversal of a swing high or a swing low but a nice bounce off BRN and close to a 23.6 fib level from 06 oct low to today's high.

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Also on EURAUD a BEOB of an inside bar. Looks a nice continuation of a downtrend.

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  • #103,776
  • Oct 31, 2011 9:45am Oct 31, 2011 9:45am
I've been following J16 for only a few weeks, using Fib. and trendlines with price action as discussed at the beginning of this thread.
Where can I get the beginning of the discussion about Jarroo's method? It looks interesting, but different from J16 approach. I'm lost in the 6,000 pages trying to find where to start on it.
Also, what is it to be in the PF? I'm guessing it's another discussion, but what does PF stand for?
Thanks,
MTC
  • #103,777
  • Oct 31, 2011 10:18am Oct 31, 2011 10:18am
I've found it really testing the last couple of weeks. I'm still trying to stick to the daily and weekly setups for now until I get more confident. I had a slight blip last week on USDCAD when I took a long trade that looking back on now, I shouldn't really have done.

Still trying to get my head around Jarroos methods, and no where near ready to trade live with it yet.

But it's tough going staying patient and waiting for a setup. Anyone else struggling staying patient waiting for those daily and weekly setups?
  • #103,778
  • Oct 31, 2011 10:33am Oct 31, 2011 10:33am
Quoting picon1
I've found it really testing the last couple of weeks. I'm still trying to stick to the daily and weekly setups for now until I get more confident. I had a slight blip last week on USDCAD when I took a long trade that looking back on now, I shouldn't really have done.

Still trying to get my head around Jarroos methods, and no where near ready to trade live with it yet.

But it's tough going staying patient and waiting for a setup. Anyone else struggling staying patient waiting for those daily and weekly setups?
Being patient is probably the hardest part. That's a huge reason for most peoples failures. Impatience. Every time you want to go pull the trigger and you feel yourself being impatient you gotta remember that this is a serious business and is that an appropriate business decision

It gets easier cause after awhile you just beat yourself up or move on

Keep at it
Mike
  • #103,779
  • Oct 31, 2011 10:48am Oct 31, 2011 10:48am
Quoting mbqb11
Being patient is probably the hardest part. That's a huge reason for most peoples failures. Impatience. Every time you want to go pull the trigger and you feel yourself being impatient you gotta remember that this is a serious business and is that an appropriate business decision

It gets easier cause after awhile you just beat yourself up or move on

Keep at it
Mike
Cheers Mike. I'm constantly checking the charts to make sure I don't miss anything. What I need to learn to do is just check once or twice a day now I'm using the daily and weekly charts.

My head is still in the 15m and tick chart frame of mind, and feels like it has to be constantly checking things. 3 years worth of training is gonna take a bit to retrain
  • #103,780
  • Oct 31, 2011 11:22am Oct 31, 2011 11:22am
Quoting picon1
But it's tough going staying patient and waiting for a setup. Anyone else struggling staying patient waiting for those daily and weekly setups?
I've been using the time to continue reading this very long discussion. It's resulting in my method becoming more and more complicated, J16's approach plus Jarroo's approach, etc.
The problem with patience is keeping it simple when you have so much time spent waiting!
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