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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

  • #104,541
  • Nov 16, 2011 9:21pm Nov 16, 2011 9:21pm
Quoting Hiten123
Pinwing, that's something I'm willing to try, thanks. I have demo accounts open with two brokers. FXpro and 4XP. I could have the 1 hour charts open on FXpro and the daily charts on 4xp.

Here's another trade I made a few hours ago. If you look at the circled area there is an evening star pattern. It's a good evening star pattern because there is a gap between the real bodies of the two spining tops and the candle before the first spinning top. There is also a gap between the second spinning top and the candle after it. This also happens to take...
Ok, you gave a step forward. Soon, you will notice that the good trades are on important levels on higher TF

So, this is the only thing you have to look at, important levels at higher TF, the rest is ways and reasons to get in the market and ways and reasons to get out. This is here too, PBs, BEOB, BUOB, DBLHC, DBHLC, PBT&CA, PBT&CB.

This is what all this experts are writing about!!!, if you just find reasons to enter the market on 1 Hr TF, soon or later the result is the same, this is not going to work!!!

Hope you realized it

Hector
  • #104,542
  • Edited 10:52pm Nov 16, 2011 9:49pm | Edited 10:52pm
Quoting benem
I never thought to look the market in this way.....but nice post indeed.
Thank you Benem!,

What I wrote is what made me realize that the daily / weekly / monthly is where all the information is.

I admit I traded the 15 min, because "the other TFs were too slow for me. I like the things that moves faster, this is the TF that goes with my personality". I believed that kind of things (bs) that you find online about trading.

Right now, i think is better to go gambling on a casino than trade on lower TF. I have better chances to win, even the very few times i have gone, i didnt won anything!!!.

Best wishes

Hector

Edit: Btw, this is just me, not the case of anyone else, just wanted to share my point of view of tf a time back, vs now.
  • #104,543
  • Nov 16, 2011 10:01pm Nov 16, 2011 10:01pm
Quoting spyderman
Hello all,

This is my first post to the thread. I've seen the James 16 thread referenced many times on FF but have not delved into it.

Yikes...7000 pages. There's no way I can read through that. Any ideas on how to best get up to speed on this short of a full read.
I don't mind doing some work, I just don't want to spin my wheels.

Thanks
Hey Spyderman

Welcome, the best thing to do is begin to read the first few hundred pages. This thread is massive and certainly worth the read if one has the time, but the best thing to do to get started is pay particular attention to everything in Post 1, and read the first 200 pgs or so paying particular attention to James16 posts(and by particular I mean all your attention )

After some time you will begin to get caught up to speed

Good luck!
Mike
  • #104,544
  • Nov 16, 2011 10:03pm Nov 16, 2011 10:03pm
could never tell you how much all your prayers meant. Just returned from the hospital and the doctors are VERY hopeful for a full recovery. They are amazed at his progress from the shape he came in. We are very hopeful for the coming days/weeks and hopefully he can maintain this pace.

Thank you all so much, I know it will mean the world to him

Mike
  • #104,545
  • Nov 16, 2011 10:06pm Nov 16, 2011 10:06pm
Quoting sixteencorp
Hi Mike,
Thanks a lot for your reply. I have a few questions, if I may -

1) What do the acronym FTA and BRN stand for? Though, I understood the context in which you mentioned them.

2) " Looks like your demo feed is off though" What do you mean by that? Is my MT4 not getting regular live stream? My first swing high created by the first bar was around 2.0557.

3) " Always good to check with multiple feeds, or a live feed if you have access "Is the feed on demo MT4 not live, eh?


Thanks so much

Hey 16

FTA = First trouble area, and BRN = Big round number

here is a good list of some of the acronyms we use(its a different language in itself lol)

http://www.forexfactory.com/showthre...40#post4538540

what I meant by off is that that spike that you are showing from that first swing high did not actually go that high. Sometimes feeds get "bad" data that causes mis prints. I always check multiple feeds(and always always check my live feeds). I check them and other demo feeds and confirmed that spike you showed was not valid. Most demo brokers do not use the same for their live feed as it uses up resources that they would rather dedicate to live feeds only.

Hope that helps
Mike
  • #104,546
  • Nov 16, 2011 10:24pm Nov 16, 2011 10:24pm
Not Pure J16 but from how I read it, PA will be here shortly. Perhaps a pair to review.
CADJPY Daily
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I missed my Short TP by a Pip or 5 & will now Take what is left on the table BUT...
This pair is close to calling a winner between B&B.

I'll be keeping an eye on it.

Manually taking prof when I finish this post & will Re-Evaluate as PA moves.

B
  • #104,547
  • Nov 16, 2011 10:42pm Nov 16, 2011 10:42pm
Quoting jarroo
Yes it sure does Pb, . .You know Mike is watching that parity level (1.0000). Also the .9950ish looks good . . .nice history . .
I have a question about how you determine important levels and when PBT&CA(B).

Does that levels need to be at swing high/low?. Because I can pick a random bulish bar that breaks a level of resistance, and next bar price bounces from that level, acting as support. Pls see on chart

This bar is not an extreme high/low. Then I see the number of times that level acted as resistance and support, and there is a lot of them.

These levels are secondary?, and not as reliable as the HCR - LCS?

I have tried them on demo, and result is a mess, lol. Those are the ones I have to use PA for confirmation, but think I need your feedback to see if I am doing things wrong.

Thank you very much

Hector

PD: Thats a good news Mike, I was just writing you about your friend, and then read what you wrote. Prays really works, hope he gets better and can go home really soon!!!
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  • #104,548
  • Nov 17, 2011 2:20am Nov 17, 2011 2:20am
Quoting Pinbar
I prefer the 120.024. LOL

I used to see people post like that, and thought they were crazy, they weren't.
I've got 120.026 noted

Quick question for you PB. No doubt it's been a proven level, only do you still TT on the 2nd time back? I know there are those who only TT the first time back, myself (to this point) included.

Thanks T
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  • #104,549
  • Nov 17, 2011 2:34am Nov 17, 2011 2:34am
Would This be a valid setup when it touched my daily LCS. My target is the next Yellow line where my HCR is on the daily
My stop is just below the closest LCS at 1,5690

Lehmann
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  • #104,550
  • Nov 17, 2011 3:33am Nov 17, 2011 3:33am
I'm new to James's work, so take it easy on me if I'm getting it all wrong.

I have been studying confluence on the EURUSD. This is the best I have found so far in the past 24 hours.

As there is also a bearish bias this could be a good trade.

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  • #104,551
  • Nov 17, 2011 4:05am Nov 17, 2011 4:05am
Quoting Bemac
Not Pure J16 but from how I read it, PA will be here shortly. Perhaps a pair to review.
CADJPY Daily
Attachment
I missed my Short TP by a Pip or 5 & will now Take what is left on the table BUT...
This pair is close to calling a winner between B&B.

I'll be keeping an eye on it.

Manually taking prof when I finish this post & will Re-Evaluate as PA moves.

B
Glad you posted that - i arrived at same conclusion, different method tho (still trying to get your boxes working properly for me!)
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  • #104,552
  • Nov 17, 2011 4:06am Nov 17, 2011 4:06am
Quoting 5.25
I've got 120.026 noted

Quick question for you PB. No doubt it's been a proven level, only do you still TT on the 2nd time back? I know there are those who only TT the first time back, myself (to this point) included.

Thanks T

Nope, I want to see some PA even on a lower TF. Just something to confirm the direction price really wants to go in.
  • #104,553
  • Edited 6:44am Nov 17, 2011 6:23am | Edited 6:44am
Quoting Tyoon
I'm new to James's work, so take it easy on me if I'm getting it all wrong.

I have been studying confluence on the EURUSD. This is the best I have found so far in the past 24 hours.

As there is also a bearish bias this could be a good trade.

Attachment
I've been looking for PA to get short on EU. If it can get below the 1.3433 area it's got real room to run towards 1.3140 ish and then 1.30..... we shall see. It's bouncing around there at the moment so i'm cautious. The 30m TF had what i thought was a DBHLC but it wasn't quite.....
  • #104,554
  • Nov 17, 2011 7:29am Nov 17, 2011 7:29am
interesting time we live..... Oanda to Clients: Stay Out of Currency Markets
all is eternal - this is good news for people who loves bad news
  • #104,555
  • Nov 17, 2011 7:41am Nov 17, 2011 7:41am
Quoting beebolbod
I've been looking for PA to get short on EU. If it can get below the 1.3433 area it's got real room to run towards 1.3140 ish and then 1.30..... we shall see. It's bouncing around there at the moment so i'm cautious. The 30m TF had what i thought was a DBHLC but it wasn't quite.....
I'm still short EUR/CAD and it's just not doing much at all. EUR is behaving oddly because the ECB are propping it up (buying Italian/Spanish bonds) while everything else is saying down..

I've been looking for PASR to short it from technically but it's just looking to me like one big manipulated mess that can fly off in odd directions based on unconfirmed twitter rumours..
Anything can happen.
  • #104,556
  • Nov 17, 2011 8:04am Nov 17, 2011 8:04am
Still carrying on being patient and looking for daily and weekly setups.

Just scanning the charts during lunch, and came across AUDUSD. Still have me descending trend line on the charts from a week or so back. Price coming back down to touch the trend line. Also touching an ema and fib at this level.

This strikes me as more of a Mike setup than a J16 one.

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I'd love to see it break through the trend line, then pull back up to it to look for a short. Looking for longs, not sure whether a touch of the trend line, then a move away and then the pull back would be needed.

Maybe Mike could take a look over this one and offer some help?
  • #104,557
  • Nov 17, 2011 8:33am Nov 17, 2011 8:33am
Quoting picon1
Still carrying on being patient and looking for daily and weekly setups.

Just scanning the charts during lunch, and came across AUDUSD. Still have me descending trend line on the charts from a week or so back. Price coming back down to touch the trend line. Also touching an ema and fib at this level.

This strikes me as more of a Mike setup than a J16 one.

Attachment

I'd love to see it break through the trend line, then pull back up to it to look for a short. Looking for longs, not sure whether a touch of the trend line,...
Hey Picon

That TL wouldn't really come into play for me anymore. I don't quite use them in that way. I posted this chart to someone on the PF. I love the parity level, but we may have a larger short being played out
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  • #104,558
  • Nov 17, 2011 9:06am Nov 17, 2011 9:06am
Why J16 ROCKS!!!
(before I start my best wishes to your policeman friend Jim)
Nice move on Silver, (i thought) Price was winding up into a triangle (daily chart) and the thin red line was a LCS on Weekly.
We had a daily close below this and then a retest that failed running back into the LCS and 200 day MA on 4h. Space to move too with Bottom of the pinbar on daily as FTA
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  • #104,559
  • Nov 17, 2011 11:27am Nov 17, 2011 11:27am
Quoting Chelski
Why J16 ROCKS!!!
(before I start my best wishes to your policeman friend Jim)
Nice move on Silver, (i thought) Price was winding up into a triangle (daily chart) and the thin red line was a LCS on Weekly.
We had a daily close below this and then a retest that failed running back into the LCS and 200 day MA on 4h. Space to move too with Bottom of the pinbar on daily as FTA
nice one C!

And thank you
  • #104,560
  • Nov 17, 2011 11:51am Nov 17, 2011 11:51am
Quoting mbqb11
nice one C!

And thank you
Thanks,

I can't state how "SIMPLE" this stuff is, no systems or complex algorithms! What I also like is the Day / Week PPZ and trade a 4h breakout. No hours chained to a screen, watch and wait like a sniper. A big thank you to you all.
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