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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

  • #109,061
  • Mar 21, 2012 5:50am Mar 21, 2012 5:50am
This seems to represent indecision/fighting over current price... between 1.59 and 1.5850.
Someone will win. i'm studying it.
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  • #109,062
  • Edited 6:04am Mar 21, 2012 5:53am | Edited 6:04am
Quoting beebolbod
This seems to represent indecision/fighting over current price... between 1.59 and 1.5850.
Someone will win. i'm studying it.
Attachment

I agree. Take a look at the daily TL, previous daily IB, today's daily could end up a BEOB and this H4 beob could be the key to it. NB: Could be.
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  • #109,063
  • Mar 21, 2012 6:15am Mar 21, 2012 6:15am
This H1 IB could make it happen.
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  • #109,064
  • Mar 21, 2012 6:20am Mar 21, 2012 6:20am
Quoting Pinbar
NB: Could be.
i might add this to my sig or something...
  • #109,065
  • Mar 21, 2012 6:26am Mar 21, 2012 6:26am
Quoting Pinbar
This H1 IB could make it happen.
Winding up until the budget decision? Even though most of it leaked already.
  • #109,066
  • Mar 21, 2012 6:33am Mar 21, 2012 6:33am
Quoting beebolbod
i might add this to my sig or something...
Well, it is still only a possibility.
It has not yet broken & it may even break, go 10 pips and reverse.
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  • #109,067
  • Mar 21, 2012 6:41am Mar 21, 2012 6:41am
The H1 IB just came into play.
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  • #109,068
  • Mar 21, 2012 6:57am Mar 21, 2012 6:57am
Well, this thing has a lot going for it.

Large bar, daily TL, RN, PPZ & MACD Div on H4.
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  • #109,069
  • Mar 21, 2012 7:02am Mar 21, 2012 7:02am
Quoting Fx7877
Hi Bee,
Are u watching this?
it's doing it's thing.... will we see another one lower down with 1650 as the top line? these are lower TF tho so less info....

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  • #109,070
  • Mar 21, 2012 7:12am Mar 21, 2012 7:12am
Quoting aslam
Helo every one here...

im new here on James16 chart thread. two or three years ago one of my friend's friend i met to, suggeted me the world of forex. I was studing my masters at that time. I sign up to ff but could not get things into my head.

then i startd trading and traded occasionally on demo but blown all my accounts. just recently I opened a real account with $500 ...but now i have just $345 in it...

Having lost my real money I got serious and contacted one of the guys following James16chart, the GHOUS. he is helping...
to use a proper moneymanagement is one of the most essential things in trading.

Lets give me an example :

Lets say you start with 500 $ and lose 250 $ within your first trades , means that you even lost 1/2 ( 50 % ) of your initial equity... so how much yo need to gain now to get to your inital deposit of 500 $ again ?

Yes, right...you need to double ( 100 % ) your equity to be breakeven again...


Another example :

Let's say I'm Mr.market and i'd tell you that you will definietly win 8 of your next 10 trades and one loser will be within the first 6 trades and the second loser within the last 4 trades,
You gonna start with 1000 $.
Stop and Target 100 pips each at each trade....

So would you really bet 1.0 lot on the very first trade to risk all of your equity ? Or would you rather use a proper money management ?!
You'll risk less in the first 6 trades and increase your traded lotsize within the last 4 trades to minimze potential risk...

All in all you shouldnt start trading live or units above 0.01/trade unless you dont have a brief knowledge and idea about how markets work, what makes them run up and down, where movements appear....

Do you know what you are actually doing whenever you press ''buy'' or ''sell'' ? You buy Euro and sell USD because you expect a better value ( exchange rate ) for your Euros to resell em later to earn a profit out of the change in value.

just treat this as a business, not as a game...


never stop asking unless you turned perfect

regards,
Jonas



PS: Why you turn live after crashing several demo accounts? ...
Hero calls followed by margin calls...
  • #109,071
  • Mar 21, 2012 7:27am Mar 21, 2012 7:27am
Short EUR-USD 1.3233
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  • #109,072
  • Edited 7:45am Mar 21, 2012 7:32am | Edited 7:45am
Quoting PhAnTi'
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kaboom

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Hero calls followed by margin calls...
  • #109,073
  • Mar 21, 2012 7:44am Mar 21, 2012 7:44am
Quoting PhAnTi'
Attachment
goodie goodie :

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Hero calls followed by margin calls...
  • #109,074
  • Mar 21, 2012 7:48am Mar 21, 2012 7:48am
Quoting Pinbar
Question for Mike about double flags as we have on GU right now.

The pole A projection seems to have a logical place to go to, that being the 1.6000 area. The flag B projection does not seem to fit in a bullish rally.
Does this mean we may turn Bearish and it may test the 150 EMA, or am I thinking too much about this?
The double flag seems kind of weird somehow, can't recall seeing this before.

Thanks in advance
Hey Pin

For me those patterns aren't established enough to consider a flag to use those projections. Those to me are smaller consolidation patterns on lower timeframes. The only way I might use them is to zoom down to a much lower timeframe where that pattern would bear more significance with its size. From this timeframe and view its more or less just a small area of consolidation based on how I view things.

Hope that helps
Mike
  • #109,075
  • Mar 21, 2012 7:51am Mar 21, 2012 7:51am
Quoting aslam
Helo every one here...

im new here on James16 chart thread. two or three years ago one of my friend's friend i met to, suggeted me the world of forex. I was studing my masters at that time. I sign up to ff but could not get things into my head.

then i startd trading and traded occasionally on demo but blown all my accounts. just recently I opened a real account with $500 ...but now i have just $345 in it...

Having lost my real money I got serious and contacted one of the guys following James16chart, the GHOUS. he is helping...
Hey Aslam

Welcome glad to see you digging through this head

That chart is a TBH(two bar high). James could have put two arrows to show the matching highs but he used one big arrow. Notice the highs are matching. When multi highs/lows break they are often a sign of continuation(resistance breaking).

Similar to this
http://www.forexfactory.com/showthre...7911#post17911

Again welcome and best of luck
Mike
  • #109,076
  • Mar 21, 2012 7:53am Mar 21, 2012 7:53am
going to short GBPUSD... entry caused by BEOB at channel top TF H4. target channel bottom and maybe more. stp above1.5930 - approx 80 pips. range play.
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all is eternal - this is good news for people who loves bad news
  • #109,077
  • Mar 21, 2012 7:54am Mar 21, 2012 7:54am
Quoting aslam
Helo every one here...

im new here on James16 chart thread. two or three years ago one of my friend's friend i met to, suggeted me the world of forex. I was studing my masters at that time. I sign up to ff but could not get things into my head.

then i startd trading and traded occasionally on demo but blown all my accounts. just recently I opened a real account with $500 ...but now i have just $345 in it...

Having lost my real money I got serious and contacted one of the guys following James16chart, the GHOUS. he is helping me...
Its a two bar high. You can see just under the arrow, we have two bars with matching highs.

You might have noticed by now, bar highs and bar lows often formulate the PPZs for us i.e they (partly) create the support and resistance in the market. Here we had two bar highs lining up at a single price level which created a resistance area. Price broke through it and the idea was to then expect price to hold as support at these former bar highs. So a long was in order.

For now though I would encourage you to look at only the more definitive forms of PA bars that we use i.e outside bars and pin bars.

You're doing a good job. I'll see you when you hit page 100.

g.
I believe . . .
  • #109,078
  • Mar 21, 2012 7:55am Mar 21, 2012 7:55am
Quoting mbqb11
Hey Aslam

Welcome glad to see you digging through this head

That chart is a TBH(two bar high). James could have put two arrows to show the matching highs but he used one big arrow. Notice the highs are matching. When multi highs/lows break they are often a sign of continuation(resistance breaking).

Similar to this
http://www.forexfactory.com/showthre...7911#post17911

Again welcome and best of luck
Mike
dang. the built in "expert adviser" of the james16 thread beat me to it.

g.
I believe . . .
  • #109,079
  • Mar 21, 2012 7:56am Mar 21, 2012 7:56am
Quoting meshka
going to short GBPUSD... entry caused by BEOB at channel top TF H4. target channel bottom and maybe more. stp above1.5930 - approx 80 pips. range play.


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Hero calls followed by margin calls...
  • #109,080
  • Mar 21, 2012 8:00am Mar 21, 2012 8:00am
Quoting ghous
dang. the built in "expert adviser" of the james16 thread beat me to it.

g.
2 answers are always better than 1
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