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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

  • #107,961
  • Feb 24, 2012 7:52pm Feb 24, 2012 7:52pm
Quoting jarroo
This post and chart should help . . (PBT&CA) Price Breaks Though & Closes Above.


Jim
Wow!!

Thank you Jim. THANK YOU
  • #107,962
  • Feb 24, 2012 7:56pm Feb 24, 2012 7:56pm
Thank you Steve. Fantastic job.
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  • #107,963
  • Feb 24, 2012 7:58pm Feb 24, 2012 7:58pm
Quoting jarroo
We can watch or demo it, for sure . .

. .that's watch or demo and learn from it. .. . .i just wanted to be clear . .

Indeed, we can watch it.
  • #107,964
  • Feb 25, 2012 2:00am Feb 25, 2012 2:00am
Quoting mbqb11
To further expand

This is James16 at its best really

Here is a further breakdown


Time frame doesn't matter, but time frames 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

Hey Mike . .

I was re-reading your post . . .how does this sound . .

"Time frame doesn't matter, but time frames matter when starting out."

Time frame doesn't matter . .but your frame of mind does . .

I had to write it out and now that I have . .its Ok . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #107,965
  • Feb 25, 2012 2:27am Feb 25, 2012 2:27am
Quoting jarroo
Hey Mike . .

I was re-reading your post . . .how does this sound . .

"Time frame doesn't matter, but time frames matter when starting out."

Time frame doesn't matter . .but your frame of mind does . .

I had to write it out and now that I have . .its Ok . .lol
haha you are much better with words then I could ever be

I like it buddy


Mike
  • #107,966
  • Edited 3:45pm Feb 25, 2012 2:35am | Edited 3:45pm
Quoting mbqb11
haha you are much better with words then I could ever be

I like it buddy


Mike
I don't know about that . .lol . .I do like to mix things up and put them in my own words . .I think every one should do that . .it helps the learning curve and its better to understand things when you put them in your own words .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,967
  • Feb 25, 2012 3:25am Feb 25, 2012 3:25am
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"
Thank You for simplifying things for me !!! I think those both are good questions asked in clear words !!! I would appreciate the answer to both of them !
Human
  • #107,968
  • Feb 25, 2012 3:38am Feb 25, 2012 3:38am
Quoting jarroo
This post and chart should help . . (PBT&CA) Price Breaks Though & Closes Above.


Jim
Hi Jarroo , What broker do you use ???

Plz look at this chart below . This is how my GBP USD daily chart looked like on my broker !!! I have highlighted out a particular area in yellow color !!! Compare it with your broker and see that on mine , ONE huge big bearish bar was missing !!! The same bar that you took a trade on , Mine was just not there !!! It certainly can't be a Sunday bar because the dates don't match up !

Regards !
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Human
  • #107,969
  • Feb 25, 2012 5:51am Feb 25, 2012 5:51am
Quoting meshka
FXSniffer... You outrun me Thanks man good work. Inspirational paintings Jim
HI MESHKA

I'm just wondering if you can share your indicator for tops and bottoms


Regards,
Polundra
  • #107,970
  • Edited 7:32am Feb 25, 2012 6:59am | Edited 7:32am
Quoting Chanya
Thank You for simplifying things for me !!! I think those both are good questions asked in clear words !!! I would appreciate the answer to both of them !
Hi Chanya,

Since I've gotten a lot of clarity and comfort in regards to my own previous similar internal response to the question that you were trying to ask, (and to the outcomes and answers that you were attempting to obtain) I thought I'd write it out and add some value here.

Here's my present take on trendlines - a trendline can be a very useful factor to be added to my 2, 3 or 4 other factors when making a decision for a given trade.

A well drawn trendline can often have much better value than an ill-formed trendline, but nonetheless, it's only one factor.

A trendline is a lot more meaningful when you have a better "story", confluence and other factors around it like a nice fib level or an obvious PPZ and/or PA confirmation on the same or lower/higher TF in the immediate or external context of the "immediate" or "big picture" pattern(s).

I believe (my opinion only!) that Sir James have personally disliked trendlines for some time, and would draw it on after a trade occasionally for entertainment purposes. In most cases, he would simply see it visually and note it mentally without actually drawing the line on the chart. In Mike's words (describing Mike himself), "I see things visually, as opposed to exactly". In my own (Variance) personal interpretation, "no one factor should have dominant value in a given trade unless it is SUPREMELY WELL-FORMED, (like a technically "correct" TL on Mike's charts) unless it is appearing in the right context".

Sometimes it may definitely be more useful to read between t lines and focus on the overall story.

To your success,

V


*Edit*, I was very happy and glad l when I saw your post because I was thinking the exact same thing and was thinking of posting the EXACT SAME QUESTION on the forum. Sometimes it makes me wonder if.....
  • #107,971
  • Feb 25, 2012 7:07am Feb 25, 2012 7:07am
Quoting zolih
Hey!

Thanks the answer, I will subscribe.
Just sent an email to J16, because can't write pm yet(lack of posts).
Hey Zolih,

You're welcome.

Feel free to ask anything else here in the public forum.

V
  • #107,972
  • Feb 25, 2012 9:15am Feb 25, 2012 9:15am
Quoting polundra
HI MESHKA

I'm just wondering if you can share your indicator for tops and bottoms


Regards,
Polundra
I found it in one of nanningbob threads. There are two versions - one plots latest Daily S/R's , other adds weekly too.. All credits go to squalou!
Attached File(s)
File Type: ex4 10.1 Daily S&R Daily.ex4   10 KB | 477 downloads
File Type: mq4 10.1 Daily S&R Daily.mq4   10 KB | 515 downloads
File Type: mq4 10.1DailySR1.mq4   10 KB | 512 downloads
all is eternal - this is good news for people who loves bad news
  • #107,973
  • Feb 25, 2012 10:12am Feb 25, 2012 10:12am
What programs open ex4 and mq4?
  • #107,974
  • Feb 25, 2012 11:12am Feb 25, 2012 11:12am
Quoting heebbyjeeby
Hey 5.25,

How will you look to play this when the week closes? Or are you already in it?
Hey HeebbyJeeby

I'm already in on the touch, but that's how I personally trade. I would recommend waiting for PA which we got as an 1H PB. Take this with a pinch of salt given how choppy the charts are on this particular pair.

The PB on the weekly, gives me confidence that there is more room to go.

If you want to enter the weekly PB itself, I would follow the J16 teachings e.g. entry on break, stop loss at base of PB. BUT you have to question the size relative to the recent move down, minor consolidation area where it's currently at, your trouble areas and the overall story.

The chart I've attached is what's in my head. It is up to you how you manage the risk and whether it is a story worth putting your hard earned money into.

Hope this helps somewhat?
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  • #107,975
  • Feb 25, 2012 12:20pm Feb 25, 2012 12:20pm
Quoting susanleet
What programs open ex4 and mq4?
well... as far as I know its Metatrader 4
all is eternal - this is good news for people who loves bad news
  • #107,976
  • Feb 25, 2012 2:08pm Feb 25, 2012 2:08pm
Hey guys just wondering if anyone else in here is using a Mac to trade with MT4. I installed windows using virtual box and it is working fine. Just wondering if anyone did something different or actually got MT4 working on Mac without 3rd party software.

Thanks
"Greed is good,greed is right,greed works"
  • #107,977
  • Feb 25, 2012 3:18pm Feb 25, 2012 3:18pm
Quoting Variance
Hi Chanya,

Since I've gotten a lot of clarity and comfort in regards to my own previous similar internal response to the question that you were trying to ask, (and to the outcomes and answers that you were attempting to obtain) I thought I'd write it out and add some value here.

Here's my present take on trendlines - a trendline can be a very useful factor to be added to my 2, 3 or 4 other factors when making a decision for a given trade.

A well drawn trendline can often have much better value than an ill-formed trendline, but nonetheless, it's...
Thanks brother for your time . BUT , my question still remains on the table . How does " Sir James " draw their trend lines . Only his trend lines are different from all the rest here . If its true that he draws them after the price action for entertainment sake as you say , then my question is answered , if no , Questions still unanswered !
Human
  • #107,978
  • Feb 25, 2012 3:33pm Feb 25, 2012 3:33pm
Hello MIKE , How are you !?

I am really interested in how YOU manage your trades . If its not asking too much , i am attaching a daily chart below with a pin bar setup on it from history . Would you , on the chart or anyway you like it , describe how you would have managed this trade so I can get an Idea !!!

Regards
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Human
  • #107,979
  • Feb 25, 2012 3:33pm Feb 25, 2012 3:33pm
along with usdjpy, is very interesting. Broke through a major PPZ and BRN level, and looking for a retrace to it.

I have a question for the senior members though, is this pair more about yen weakness, than pound strength? I ask, as I have a bearish pin on gbpusd, and think this pair may go south, in its present box.

http://my.jetscreenshot.com/11256/m_...-rzts-86kb.jpg
  • #107,980
  • Feb 25, 2012 3:48pm Feb 25, 2012 3:48pm
Quoting Chanya
Hello MIKE , How are you !?

I am really interested in how YOU manage your trades . If its not asking too much , i am attaching a daily chart below with a pin bar setup on it from history . Would you , on the chart or anyway you like it , describe how you would have managed this trade so I can get an Idea !!!

Regards
here ya go chanya

Hope everyone is having a nice weekend

Best
Mike
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