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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

  • #106,841
  • Feb 3, 2012 10:04pm Feb 3, 2012 10:04pm
Quoting Gekko78
Here you go ............

The New Commodity Trading Systems and Methods 1987
i looked it up and got the following

Product Description

This book provides a thorough guide to locating, understanding and developing a trading strategy. Focusing on ways to trade on the futures (or any) market for profit, it explains different trading systems, classifies many approaches, points out their similarities and differences and describes how these techniques will cause greater risk or reward given different circumstances. Chapters build from simple systems to more complex approaches, such as spectral analysis, often showing why simplicity is best. Some systems appropriate for computer application are included, along with many programs appearing in an appendix.


So its not one system/method its a variety, is there a certain one you can pinpoint us to.
  • #106,842
  • Feb 3, 2012 10:23pm Feb 3, 2012 10:23pm
So what do you guys think of this DBHLC with close below LCS and lowest wick too on the weekly for EURAUD
difference between the highs is exactly 3 pips
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  • #106,843
  • Feb 3, 2012 10:40pm Feb 3, 2012 10:40pm
Quoting cprao
It's a BEOB on FXPRO.
Previous bar's high is - 1760.96
The current bearish bar high is - 1763.11

Hence it is a BEOB.

The point is, it was not a BEOB on the chart he posted!

Hence, it aint a BEOB!
  • #106,844
  • Feb 3, 2012 10:43pm Feb 3, 2012 10:43pm
Quoting Pinbar
The point is, it was not a BEOB on the chart he posted!

Hence, it aint a BEOB!
You are right Pinbar based on that chart. I am talking from the prospective of Fxpro.
  • #106,845
  • Feb 3, 2012 11:53pm Feb 3, 2012 11:53pm
Quoting jarroo
Update . . .
I got a few questions on this one . . here's an update . .I got rid of the PB I drew . .lol

The main question is the validity of the current Daily BUOB at these Weekly levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,846
  • Feb 4, 2012 12:08am Feb 4, 2012 12:08am
Quoting cprao
You are right Pinbar based on that chart. I am talking from the prospective of Fxpro.

That chart was from Oanda MT4.
- Previous bar high: 1761.009
- Current bar high : 1763.055

Mebbe the screenshot is a little fuzzy... apologies. But it does appear to be a textbook BEOB on Oanda MT4.

So, with that said, comments on the setup, please?

Thanks for the responses.
  • #106,847
  • Feb 4, 2012 12:24am Feb 4, 2012 12:24am
Quoting Frxter
G'day folks,

Nice BEOB on Gold daily. Thinking of a quick trade with tight TP. More details on chart. Have I identified FTA at 1700-1710 area correctly. And, STA at 1680?

Comments sought from the J16 tribe. *braces for it*

Oh... SL at 1770 Hehehe
Not to bad Frxter . .Off a nice PPZ level . .The BEOB size could be bigger to counter the strong move up . .my targets are a bit closer and I like your final target. . . We may get a retrace before it breaks . .if it breaks.

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #106,848
  • Feb 4, 2012 12:37am Feb 4, 2012 12:37am
Quoting jarroo
Not to bad Frxter . .Off a nice PPZ level . .The BEOB size could be bigger to counter the strong move up . .my targets are a bit closer and I like your final target. . . We may get a retrace before it breaks . .if it breaks.

Jim
Thanks, Jarroo. Much appreciated, mate.
  • #106,849
  • Feb 4, 2012 1:01am Feb 4, 2012 1:01am
Quoting deankenny21
So what do you guys think of this DBHLC with close below LCS and lowest wick too on the weekly for EURAUD
difference between the highs is exactly 3 pips
Hi Dean,

Good to see you see. BTW how is your S/D strategy going?
  • #106,850
  • Feb 4, 2012 1:01am Feb 4, 2012 1:01am
Quoting jarroo
I got a few questions on this one . . here's an update . .I got rid of the PB I drew . .lol

The main question is the validity of the current Daily BUOB at these Weekly levels.

chart . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #106,851
  • Feb 4, 2012 1:09am Feb 4, 2012 1:09am
Quoting rami_8
Jim,

You didn't show why it did not keep on going lower....
Because its still moving down . .

or are you asking at a prior specific location ? .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,852
  • Feb 4, 2012 1:57am Feb 4, 2012 1:57am
Quoting Gekko78
Here you go ............

The New Commodity Trading Systems and Methods 1987
Hello G,
I see you're new here just like I am.
Why don't you give an honest chance to J16 method - I'm sure if you do using guidelines from people around here you will never have to look for anything else. Just look at two J16 trades I posted this year (over 1000 pips and counting) - this requires a lot of patience (something I still don't have too much but someday I will). When I found this thread it changed my trading by 180 degrees. You wrote that there were 10 trades on EU this year (with your system) - on a daily I could barely find 2 I think decent W/L ratio is not I'm looking for anymore - I want to take only best trades. Anyway, good luck to you but I will stick to J16.

Regards,
Peter
  • #106,853
  • Feb 4, 2012 3:47am Feb 4, 2012 3:47am
Quoting Gekko78
Here you go ............

The New Commodity Trading Systems and Methods 1987
1) The best trading book is Mark Douglas "Trading in the zone™" (and also "The Disciplined Trader™").

Because the difficulty, the enemy is within yourself. No tecnique, no strategy will work without applying the concepts explained in that book.

2) The best trading method is the one that looks at the only protagonist that matters: price.

All the rest is fluff and confusion to make YOU the source of THEIR (big guys) liquidity. This is why people cut off the garbage and go straight to James16 / other PA methods .


Edit: by the way, once you have worked, learned, practised for several months (I know it's less shiny than the miracle $99 1 day to richness wonders they sell on Internet) you can achieve > 90% trades success | breakeven rate with PA methods.
It's higher than the alledged 78% or so claimed in your posts.
  • #106,854
  • Edited 4:32am Feb 4, 2012 4:21am | Edited 4:32am
Quoting rami_8
Jim,

You didn't show why it did not keep on going lower....
Hi Rami,

Just thought I'd share this - I woke up this morning with a couple of epiphanies that have excited me beyond belief. After going to the bathroom, I ran back to my room, grabbed my beloved notepad & pen, and started drafting what I thought to be two of the most important key concepts that could help me.

IT"S ONLY NOW THAT I REALIZED IT CAME FROM JIM"S RESPONSES!!!!

Rami, I agree with you that at first sight, I kinda felt the same way at the time and I didn't want to say that I had agreed (and bs) or otherwise because Jim did put a lot effort in his response to my questions so I thought I'd write a blurb to just end that sub-topic.

I think Jim gauges each individual's stage of development and then gives the most appropriate response that allows that individual's questions to create a space and context where he or she discovers the answers for themselves in a profound manner that goes beyond the questions themselves.

The initial questions I had sparked off a chain of contexts where I was discovering SOOOOOOO many different variables that I could integrate and it just got more and more exciting LOL!!!!!!!!!!!!!

Remember, confusion always precedes understanding. You will find answers if you ask the right questions.

Trust

Yours
V




Jim,

I just want to say thank you!!
  • #106,855
  • Feb 4, 2012 5:54am Feb 4, 2012 5:54am
Quoting bmwiles
aud/ jpy went is 70 pips in the right direction. i should have waited for the bounce before i bought, but everyone has their trigger finger
now the question is, is this bar strong enough to leave the trade open over the weekend?
http://i1171.photobucket.com/albums/...24CHaudjpy.png
  • #106,856
  • Feb 4, 2012 5:57am Feb 4, 2012 5:57am
Quoting R3ta
Not only in your experience.

Mechanical systems are destined to fail in the long run because they doesn't "adapt" to the market's changes. Charles darwin once said “It is not the strongest of species that survive, nor the most intelligent, but the one most responsive to change.”

However, i'm keeping an eye on gold (note the macd div):
chart Gold H4:
http://i1171.photobucket.com/albums/...17CHgold-1.png
  • #106,857
  • Feb 4, 2012 6:04am Feb 4, 2012 6:04am
Quoting zamfir
Hi Dean,

Good to see you see. BTW how is your S/D strategy going?
its still my bread and butter, but this thread was my launching pad into everything price action etc, so im always lurking around in here.
  • #106,858
  • Feb 4, 2012 8:05am Feb 4, 2012 8:05am
This book turned my trading right around. Here's a snippet of the first page.

No over night quick fixes in this one

PM me for a full copy

Happy weekend!
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  • #106,859
  • Feb 4, 2012 8:38am Feb 4, 2012 8:38am
That is Great.
  • #106,860
  • Feb 4, 2012 8:39am Feb 4, 2012 8:39am
Quoting trc
Hello G,
I see you're new here just like I am.
Why don't you give an honest chance to J16 method - I'm sure if you do using guidelines from people around here you will never have to look for anything else. Just look at two J16 trades I posted this year (over 1000 pips and counting) - this requires a lot of patience (something I still don't have too much but someday I will). When I found this thread it changed my trading by 180 degrees. You wrote that there were 10 trades on EU this year (with your system) - on a daily I could barely find 2 ...
Peter ,

I appreciate your feedback but you obviously did not read my post. First I already said I incorporate parts of J16 in the method and also their was not 10 trades on the EUR/USD in a year it was 21 trades / 14 wins 7 losses in 6 months. Please get your facts straight before you criticize me.

Thank you
"Greed is good,greed is right,greed works"
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