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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

  • #107,941
  • Feb 24, 2012 4:22pm Feb 24, 2012 4:22pm
Quoting jarroo
Thanks Snif . .Looks like we are consolidaing and we start all over again .
next week is another story and I like to keep an eye on the USD index.
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Sniffing Snake's Tracks...
  • #107,942
  • Feb 24, 2012 4:24pm Feb 24, 2012 4:24pm
Quoting beebolbod
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lol . .I love it . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #107,943
  • Feb 24, 2012 4:28pm Feb 24, 2012 4:28pm
Quoting trc
I think the same
Weekly chart

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I like the way you think, trc . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,944
  • Feb 24, 2012 4:40pm Feb 24, 2012 4:40pm
Quoting FX.Sniffer
next week is another story and I like to keep an eye on the USD index.
Yeah it looks like we're heading for some more down movement.
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Indicators show the past. Price Action "Indicates" the future.
  • #107,945
  • Feb 24, 2012 5:48pm Feb 24, 2012 5:48pm
Quoting Chanya
Hi Sir James ,

How are you ? I have been following your charts from a long long time now , I understand everything you try to teach through them BUT one thing that I dont understand is , How you draw those trend lines ???
I thought trend lines are supposed to be drawn joining highs or lows and some , but rarely , draw them on closing prices !!! YOUR trend lines some times touches highs , sometimes lows ETC .

Quoting Variance
Hi Chanya,

Which trendlines are you talking about?

Do you mean, "Sir James, when is it useful and profitable to curve fit trendlines and how far can you go before it becomes superfluous?" or "are there specific strategies for drawing useful trendlines"

This post and chart should help . . (PBT&CA) Price Breaks Though & Closes Above.


Jim

Quoting jarroo
Hey Cath . .here's my take on this setup on the GU . .(chart)

I agree that trendline wasn't very strict . .I believe he was looking at the bigger story going on and that trendline (albeit a gerenal one) added additional confluence for an entry . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #107,946
  • Feb 24, 2012 5:59pm Feb 24, 2012 5:59pm
Hi All,

Been studying James16 material for a few years now, on demo of course. I have been more of an observer on this forum up until now but would like to post a possible touch trade on EURAUD Daily TF (james16 style).

This is solely based on S&R with no PA confirmation. Price has just broken through a BRN & PPZ at 1.2500. I would now be expecting price to retrace and retest the 1.2500 area, which should act as support before continuing up towards 1.3000 and the 150 ema.

Great confluence with BRN, PPZ, Trend Line & Divergence and great space for price to climb back up to 1.3000.

Comments are welcome from all.

bud_fox
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  • #107,947
  • Feb 24, 2012 6:03pm Feb 24, 2012 6:03pm
Hey, guys, this is my first post, so lets start this off right. Hi! ^.^ After reading much of this thread (I'm still digging through it, 7000 pages is nothing to sneeze at), I have come to understand so much about price action, confluence, and how lagging indicators can only really help confirm what price action is signaling, etc. etc. etc. I am very excited about all this, and I started a new demo account to try the things I have learned on a $5000 account. I made 2 trades this week, both on FX's Sterling, which netted me approx 250 pips. I caught it on the way down on 2/20 with a pinocchio on the daily(very short nose, which I would've passed, but its tip was on a temporary top/resistance, and I knew it was headed south) and then again on its way up last night/this morning when it hit support and failed to penetrate. I chickened out and 250 could've been 400, but I'm happy enough for what I got off of 2 trades. That's so much better than anything I've tried yet and I still have much to learn.

So about my title. The week is closed and FX is down for the next 48 hours. Just got home and what do I see? DBLHC on the weekly chart of GBP/USD. 2nd bar is maybe one pip away from 1st, but for a week, that's acceptable to me. It surpassed last week as well for its high, making it a mix of DBLHC and Bullish outside bar, I suppose.

That means that price action is telling me the Sterling is set to rise again, likely for a few hundred pips to 62% retrace of the initial fall, if "the experts" are to be believed. (LOL) But there is some confluence @ about 1.5930 or so. 50% fib retracement, resistance, etc. I was hoping it would break the resistance before close today, start a pullback/dblhc retrace on sunday/monday and give me an opportunity to enter long sometime early to midweek, but it broke 1.5879 minor resistance and then shut down for the day.

SO any thoughts? I'm considering watching to see if it does still penetrate, then pull back (and hopefully retrace 50% of the DBLHC) and then give me an entry signal to go long. Does that sound solid? Am I missing something that you can see? I'm interested in all opinions. And I apologize for the wall of text. I look forward to being an active member to this forum (and making it to where I have to read the middle and the end simultaneously to keep up. O.o)
Currency is a joke. And that's precisely why I trade it.
  • #107,948
  • Edited Feb 25, 2012 2:15am Feb 24, 2012 6:21pm | Edited Feb 25, 2012 2:15am
Quoting bud_fox
Hi All,

Been studying James16 material for a few years now, on demo of course. I have been more of an observer on this forum up until now but would like to post a possible touch trade on EURAUD Daily TF (james16 style).

This is solely based on S&R with no PA confirmation. Price has just broken through a BRN & PPZ at 1.2500. I would now be expecting price to retrace and retest the 1.2500 area, which should act as support before continuing up towards 1.3000 and the 150 ema.

Great confluence with BRN, PPZ, Trend Line & Divergence and great space...
Looks good bud_fox . .Classic Resistance turning into or "flipping" to Support. Bullish PA there wouldn't be bad either . .to confirm the flip to Support.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,949
  • Feb 24, 2012 6:26pm Feb 24, 2012 6:26pm
Quoting jarroo
Yes, multiple TF HCR & LCS line ups are good and also HCR/LCS levels that line up at the same level i.e. Dual Acton levels.


I see you're using 4 Hour HCR/LCS level as targets on the 4 Hour . .this is fine to do, but remember this is a Weekly level so we have Weekly targets (previous Highs and Lows). Put those Weekly targets on your chart and then show the 4 Hour time frame . .
Got stopped out just below the 50 fibo retracement of the second push up.

I kind of expected this may happen, just wanted to see if it was going to turn into a weekly setup. M30 morphed into a daily setup so, we should be satisfied with that. LOL

I put the weekly targets on the chart and we can see that, it hit the first target then hung around before reversing.
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  • #107,950
  • Feb 24, 2012 6:43pm Feb 24, 2012 6:43pm
Quoting Pinbar
Got stopped out just below the 50 fibo retracement of the second push up.

I kind of expected this may happen, just wanted to see if it was going to turn into a weekly setup. M30 morphed into a daily setup so, we should be satisfied with that. LOL

I put the weekly targets on the chart and we can see that, it hit the first target then hung around before reversing.

Here are my targets on the Weekly and seen on that 4 Hour . .I would use a higher TF close above or below these targets other than the 30min TF. . .again it is a higher TF level.

Using 30min TF Close will tend to get you out earlier . .you could also use the Daily close at the targets.
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Indicators show the past. Price Action "Indicates" the future.
  • #107,951
  • Feb 24, 2012 7:00pm Feb 24, 2012 7:00pm
Quoting jarroo
Here are my targets on the Weekly and seen on that 4 Hour . .I would use a higher TF close above or below these targets other than the 30min TF. . .again it is a higher TF level.

Using 30min TF Close will tend to get you out earlier . .you could also use the Daily close at the targets.

We now have bearish PB on the Daily . .not that big . .in the middle of everthing . .could it work out . .absolutely, it could. If you trade it just know your targets and tread carefully . .James16's "This is Crilical" comes to mind. . .it could just shoot upward.

Also, does this look familar . .we could start to consolidate . .I refer you to Mike's post and chart . .


Quoting mbqb11
To further expand

This is James16 at its best really

Here is a further breakdown


Timeframe doesn't matter, but timeframes matter when starting out. Most jump to the 5min and just trade themselves to death.

This is a spot on example from Dean, that can teach a ton. Thanks for sharing D

Best
Mike
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Indicators show the past. Price Action "Indicates" the future.
  • #107,952
  • Feb 24, 2012 7:09pm Feb 24, 2012 7:09pm
Quoting jarroo
Here are my targets on the Weekly and seen on that 4 Hour . .I would use a higher TF close above or below these targets other than the 30min TF. . .again it is a higher TF level.

Using 30min TF Close will tend to get you out earlier . .you could also use the Daily close at the targets.

Thanks Jim, I shall work on identifying these targets.

Quick question though, is there any reason as to why you did not use this weekly HCR?
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  • #107,953
  • Feb 24, 2012 7:11pm Feb 24, 2012 7:11pm
Quoting jarroo
We now have bearish PB on the Daily . .not that big . .in the middle of everthing . .could it work out . .absolutely, it could. If you trade it just know your targets and tread carefully . .James16's "This is Crilical" comes to mind. . .it could just shoot upward.

Also, does this look familar . .we could start to consolidate . .I refer you to Mike's post and chart . .

Yes, I saw the daily PB, fits in well with boxing and not messing around in the middle.
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  • #107,954
  • Feb 24, 2012 7:13pm Feb 24, 2012 7:13pm
Quoting Pinbar
Thanks Jim, I shall work on identifying these targets.

Quick question though, is there any reason as to why you did not use this weekly HCR?
As a target? No reason, probably just to keep it simple with just using Highs and Lows . .it is a very valid target, indeed . .probably even a stronger target .
Indicators show the past. Price Action "Indicates" the future.
  • #107,955
  • Feb 24, 2012 7:15pm Feb 24, 2012 7:15pm
Quoting jarroo
As a target? No reason, probably just to keep it simple with just using Highs and Lows . .it is a very valid target, indeed . .probably even a stronger target .

Oh, Ok. Just wondered if there was something I was not realizing about that HCR. Thanks again Jim.
  • #107,956
  • Feb 24, 2012 7:22pm Feb 24, 2012 7:22pm
Could anyone comment on these please? The 4H has a pin albeit against big up move but at great levels. The weekly has DBHLC (i think) to long side.... i'm a bit confused.
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  • #107,957
  • Feb 24, 2012 7:23pm Feb 24, 2012 7:23pm
Quoting Pinbar
Oh, Ok. Just wondered if there was something I was not realizing about that HCR. Thanks again Jim.
You may have just built a nice little story here Pinbar. . .

Daily bearish PB off a Weekly HCR level . with trendline confluence . .

. .I like it. .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,958
  • Feb 24, 2012 7:31pm Feb 24, 2012 7:31pm
LOL

I was just looking at that story and came back to refresh the thread, and saw your post. Yes, that was going through my mind. Not that I want to talk myself into taking that PB. LOL
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  • #107,959
  • Feb 24, 2012 7:34pm Feb 24, 2012 7:34pm
Quoting beebolbod
Could anyone comment on these please? The 4H has a pin albeit against big up move but at great levels. The weekly has DBHLC (i think) to long side.... i'm a bit confused.
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I like the location on the 4 Hour PB but the size is pretty small . bigger "Nose" would have been nice.
Indicators show the past. Price Action "Indicates" the future.
  • #107,960
  • Feb 24, 2012 7:37pm Feb 24, 2012 7:37pm
Quoting Pinbar
LOL

I was just looking at that story and came back to refresh the thread, and saw your post. Yes, that was going through my mind. Not that I want to talk myself into taking that PB. LOL
We can watch or demo it, for sure . .

. .that's watch or demo and learn from it. .. . .i just wanted to be clear . .
Indicators show the past. Price Action "Indicates" the future.
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