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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

  • #104,001
  • Nov 4, 2011 3:06am Nov 4, 2011 3:06am
Quoting jarroo
This is awesome, T . . . . .

I would only disagree with you and say that it is much inline with J16's methodology. We're dealing with S/R levels and that is where our PA formations confirms or valids our levels.. .speaking of a 15min PB . .. check out this one on the Gpb/Jpy back in March...

Jim
That is one handsome looking PB and even better R:R!

Tomek
  • #104,002
  • Nov 4, 2011 3:14am Nov 4, 2011 3:14am
Quoting decentchap
Hi 5.25,

I didnt take these trades but i had these lines drawn last weekend and see how price tried to break-through- couldn't. we then have a retest with a PA bar confirmation(well gj wasnt technically a pb but still.. )...
I am loving this method..
Cool! I agree, what was once said here rings so much truth: "learn as much as you can, them simplify". Or something like that. This is a great way of simplifying and refining my understanding of J16's teachings from the 10 or so months I've been following.

GOOD levels, with PA confirmation and you'll have to rename yourself "Decent Wealthy Chap"

T
  • #104,003
  • Nov 4, 2011 5:10am Nov 4, 2011 5:10am
So, my newbie eyes think they are seeing an opportunity..... What do you guys think? Would going long on this be a wise decision? I see the pin bar......or I think I do, haha.
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  • #104,004
  • Nov 4, 2011 5:33am Nov 4, 2011 5:33am
Quoting jarroo
That worked out perfect . .hit its target nicely .

The courage will come over time but you really never have to take a TT . . . .solid PA on a lower TF is better than a Touch . .

Yes, it did work out well and I learned a great deal from it, not because it worked out, I would have learned equally as much from it had it failed.

That is it isn't it, trial and error and learning as much from the errors as the successes.

Thanks Jim

Interesting question someone posed about this methodology being different than the norm in this thread.
I used to think the same but recently have come to the conclusion that it is actually the very same thing.
That being resistance turning to support and Visa a Vi
  • #104,005
  • Nov 4, 2011 5:49am Nov 4, 2011 5:49am
Quoting Blackout
So, my newbie eyes think they are seeing an opportunity..... What do you guys think? Would going long on this be a wise decision? I see the pin bar......or I think I do, haha.
Personally the nose is too short for me on that one, but no 2 traders are equal!
  • #104,006
  • Nov 4, 2011 6:17am Nov 4, 2011 6:17am
Like the look of where EU is.

Let's not Guess or hope, but let PA tip its hand.
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  • #104,007
  • Nov 4, 2011 6:54am Nov 4, 2011 6:54am
Quoting 5.25
Cool! I agree, what was once said here rings so much truth: "learn as much as you can, them simplify". Or something like that. This is a great way of simplifying and refining my understanding of J16's teachings from the 10 or so months I've been following.

GOOD levels, with PA confirmation and you'll have to rename yourself "Decent Wealthy Chap"

T
Hey T,

thanks man, its likely that you might have to change your name from 5.25 to DVD before I change mine..)
and before both of us Pin Bar will have to change his name to Outside bar..

I was wandering when we drop down to lower level to find PA when PBT CA/B occures. Do we look for confluence on the lower tf or higher tf. I guess it will be the tf where you see PA but i just wanted to confirm..
so for e.g 365 EMA would be diffrent on weekly and 4 hr tf so when you take a 4 hour pin based on weekly lcs/hcr would you look for supporting confluence on that level at weekly tf or 4 hour tf?
Trading is a test match not a Twenty20.
  • #104,008
  • Nov 4, 2011 7:13am Nov 4, 2011 7:13am
Quoting decentchap
from 5.25 to DVD
or a blue-ray?

hehehe
  • #104,009
  • Nov 4, 2011 7:44am Nov 4, 2011 7:44am
Quoting decentchap
Hey T,

thanks man, its likely that you might have to change your name from 5.25 to DVD before I change mine..)
and before both of us Pin Bar will have to change his name to Outside bar..

I was wandering when we drop down to lower level to find PA when PBT CA/B occures. Do we look for confluence on the lower tf or higher tf. I guess it will be the tf where you see PA but i just wanted to confirm..
so for e.g 365 EMA would be diffrent on weekly and 4 hr tf so when you take a 4 hour pin based on weekly lcs/hcr would you look for supporting confluence...

Perhaps I shall change it to "Pin Head" and put the Pinbar handle up for auction. Any bidders LOL

We may get that H4 BEOB.
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  • #104,010
  • Nov 4, 2011 8:21am Nov 4, 2011 8:21am
Can't monitor this as I have to crash out and therefore can not wait till the bar closes. So, I am just going to demo it with the pretence that it already closed as a BEOB.

Let's see what it does.
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  • #104,011
  • Nov 4, 2011 9:49am Nov 4, 2011 9:49am
Next week Yummy mummy Yogi trades
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all is eternal - this is good news for people who loves bad news
  • #104,012
  • Nov 4, 2011 9:50am Nov 4, 2011 9:50am
Quoting Pinbar
Can't monitor this as I have to crash out and therefore can not wait till the bar closes. So, I am just going to demo it with the pretence that it already closed as a BEOB.

Let's see what it does.
Nice 1 PB... i took 50 pips here.
  • #104,013
  • Nov 4, 2011 10:41am Nov 4, 2011 10:41am
Hi all!

I am new to this site and james16 so I thought I would write a quick note and say hello and introduce myself. This thread is amazing so far. My google searches often include james16 near the end with the hopes that what I am looking for is in this thread somewhere.

Currently, I am working with a seasoned FX trader who is answering my questions and giving me some pointers. I have been focusing on the very basics, support and resistance placement and price action in accordance to those levels. In addition to this, I am working with specific set-ups with emphasis on pin bars and outside engulfing bars. I have only placed a few trades on my demo account so no news as to how its working as of yet. Those trades were not made from any formulated strategy, just a mere attempt to roll the dice and "see what happens". I've had my fun, so I am going to spend more time reading and learning set ups and such.

I look forward to meeting some of ya'll and I can't wait to see where this new journey takes me.

Joseph
  • #104,014
  • Nov 4, 2011 11:17am Nov 4, 2011 11:17am
Quoting meshka
Next week Yummy mummy Yogi trades
Can you please share your Yogi bear indi!

  • #104,015
  • Nov 4, 2011 12:38pm Nov 4, 2011 12:38pm
Quoting fxrook
Hi all!

I am new to this site and james16 so I thought I would write a quick note and say hello and introduce myself. This thread is amazing so far. My google searches often include james16 near the end with the hopes that what I am looking for is in this thread somewhere.

Currently, I am working with a seasoned FX trader who is answering my questions and giving me some pointers. I have been focusing on the very basics, support and resistance placement and price action in accordance to those levels. In addition to this, I am working with specific...
welcome Joseph and best of luck to you!

Best
Mike
  • #104,016
  • Nov 4, 2011 2:16pm Nov 4, 2011 2:16pm
Hey Meshka ,
I like this EURJPY weekly setup, also Looking forward to it !

btw , does "meshka" mean "bear" or it just sound to me like one
  • #104,017
  • Nov 4, 2011 3:01pm Nov 4, 2011 3:01pm
How do you guys manage to be in more than one trade at a time? Say you decide on a 30 pip SL with 1% risk. When I try to put on such a trade (see pic below), the "margin used" is close to the full account size. The SL barely reaches 1%. With a 30 pip SL I couldn't even risk 2%. Any pointers would be greatly appreciated. Increase the account leverage settings?
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  • #104,018
  • Edited 3:43pm Nov 4, 2011 3:36pm | Edited 3:43pm
Hi

Yes, you need to increase your leverage. You can use as high leverage as your broker allows, but obviously keep your percentage risk per trade the same.

Here is a good link to help explain more about leverage: http://www.forexfactory.com/showthread.php?t=6948 (keep scrolling down untill you find it)
  • #104,019
  • Nov 4, 2011 4:02pm Nov 4, 2011 4:02pm
Quoting jarroo
Thanks for sharing Hector . .this Thread is awesome and will help you find your own niche that will left the clouds even more.

I have had a similar journey . .for me, it was finally understanding the simple market dynamic of Support and Resistance levels . .how they form , how they transition or "flip" (PPZ levels) . .etc . really brought home all of what James16, Mike(mbqb11) and some others teach here. .

Jim
Thank you Jim, I totally agree with you, this is the place to understand the market movements. I have to admit I print almost all your charts about HCR - LCR, they're pure gold. I watch them all the time, and when Im out of ideas, when I cant see anything on the charts, i watch the charts and and boom, all the information the market gives you about what he is doing and where he could go, just appears in front of my eyes.
The charts and Mikes and Jims videos in the james16 web page are very helpfull to understand what is going on. Like I wrote, pure gold.
By the way, I am practicing my trades using an expert I attahed that simulates market historical behavior real time. You choose the pair and the preriod you want to simulate, and the price moves like if you were taking decisions real time. Of course price moves a lot faster than real time.
But the point is it can be helpful to practice and increase the skills of all of us, specially the begginers. Have anyone used it?
Best trading
Hector
Attached File(s)
File Type: ex4 LFH_Trading_Simulator_3.ex4   30 KB | 321 downloads
  • #104,020
  • Nov 4, 2011 4:29pm Nov 4, 2011 4:29pm
Quoting hunzul
Yes, you need to increase your leverage. You can use as high leverage as your broker allows, but obviously keep your percentage risk per trade the same.
Thanks Hunzul!

Now, I came across diallist's True Leverage formula some time ago. If I shamelessly plug in the numbers the result seems to indicate I cocked this up:

(LotSize * %Risk) / (StopSize * PipValue) = True Leverage

(2,700,000 * 1%) / (30 * 25.25) = 3564.4

Any idea on how to make this work?
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