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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

  • #109,621
  • Mar 30, 2012 9:56am Mar 30, 2012 9:56am
Quoting Rust
Totally agree with Dean .
Mike is inexhaustible doing wonderful charts on and on and on ! He is a rare gem .

I can proudly say I am profitable , because of him !
awesome man glad it can be helpful

Just sharing what James has shared with so many of us. We are lucky to have him pave the way with generosity and a big heart

Enjoy the weekend friends
Mike
  • #109,622
  • Mar 30, 2012 10:02am Mar 30, 2012 10:02am
Quoting mbqb11
awesome man glad it can be helpful

Just sharing what James has shared with so many of us. We are lucky to have him pave the way with generosity and a big heart

Enjoy the weekend friends
Mike
You said it bro! No telling how many accounts I would have blown if not for him and the rest of you that share so freely.

Good Trading
Mike (that other one)
  • #109,623
  • Mar 30, 2012 10:05am Mar 30, 2012 10:05am
Quoting tubguy
You said it bro! No telling how many accounts I would have blown if not for him and the rest of you that share so freely.

Good Trading
Mike (that other one)
you are Jim's texas brother from another mother if my memory serves me well

  • #109,624
  • Mar 30, 2012 10:19am Mar 30, 2012 10:19am
Quoting Greenhaze
Hi guys!

There was good buy opportunity on EU. I bought the retrace and tooks 1/2 profits @ the current highs.
Hey Greenhaze, howzit going?
I'm in on this one too. I like the AudUsd better though.
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Keeping it Simple
  • #109,625
  • Mar 30, 2012 10:37am Mar 30, 2012 10:37am
Quoting mbqb11
you are Jim's texas brother from another mother if my memory serves me well

yep! that's me! I live about 3 hours away from him.

What I learned from him, yourself and others here have saved me from blowing my account more than once. I like to try new things, but always use J16 material to salvage my losses. Works like a charm!
  • #109,626
  • Mar 30, 2012 11:02am Mar 30, 2012 11:02am
I started a trading journal since I'm new to PA and FXfactory. This is the only post that I'll make about this, if I get some help then great!

I'm going to be reading more than I write at this point...

USDJPY Daily- mini pin bar (small nose)

to support that,

USDJPY H4- 2 inside bars, current bar is bullish and broke out.

http://www.forexfactory.com/showthre...62#post5528362

thanks everyone for all the help I've gotten already!
  • #109,627
  • Mar 30, 2012 11:37am Mar 30, 2012 11:37am
Quoting mbqb11
hey magestic welcome!

It is similar but at the same time notice now this one is even more traffic(or congestion). This is a very very very consolidated market be very cautious trading these

Again welcome to the thread glad it's been helpful so far!

Mike
updated chart. This is what makes traffic tricky
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  • #109,628
  • Mar 30, 2012 12:59pm Mar 30, 2012 12:59pm
Can u please clear me these...

1-FTA

2-Monthly LCS

3-How to develop a BOX...... (I do not know any thing abt BOX role in PA)

4- TF level
  • #109,629
  • Edited 1:33pm Mar 30, 2012 1:13pm | Edited 1:33pm
1-FTA = First trouble area

2-Monthly LCS = Monthly Lowest Close of Support (the lowest that price has closed in an area of support I think?)

3-How to develop a BOX.

The bottom and top of a box are just regular support and resistance areas, drawn as a box because it's easier to see.

4- i'm not sure what a TF level is either!

you can check out pinbar's post for some terms:
http://www.forexfactory.com/showthre...57#post5442457

edit:
4- TF is time frame. If you're asking about this post from before: "Hey Steve . .The 130.71, is that a higher TF level?"

I think they might be talking about 130.71 as a support/resistance level found on a higher Time Frame.


  • #109,630
  • Mar 30, 2012 1:37pm Mar 30, 2012 1:37pm
Quoting habeeb
Hey Greenhaze, howzit going?
I'm in on this one too. I like the AudUsd better though.

Hey Habeeb,

Usuall friday evening with glass of whiskey while looking at all the mistakes i did this week..... worst week this year so far. I'm out from the EU long for the weekend... I was thinking about buying the AU PB but those daily lows @ 1.042 made me skip that one.

Good to see you posting here Habeeb

  • #109,631
  • Mar 30, 2012 1:47pm Mar 30, 2012 1:47pm
Quoting Brixton
One to watch for next week. EURAUD. Daily Chart. Approaching previous support which nears the 50 fib. Will be watching price action at this level.
Hi Brixton,

That is very strong HTF supply/resistance area and taking into consideration high AUD interest rates there is very high probability of strong price reaction there.
  • #109,632
  • Mar 30, 2012 2:00pm Mar 30, 2012 2:00pm
Quoting Greenhaze
Hi Brixton,

That is very strong HTF supply/resistance area and taking into consideration high AUD interest rates there is very high probability of strong price reaction there.
1.3000 will be an amazing level to go short. i'm waiting for price action confirmation too.
  • #109,633
  • Mar 30, 2012 2:41pm Mar 30, 2012 2:41pm
Quoting Greenhaze
Hey Habeeb,

Usuall friday evening with glass of whiskey while looking at all the mistakes i did this week..... worst week this year so far. I'm out from the EU long for the weekend... I was thinking about buying the AU PB but those daily lows @ 1.042 made me skip that one.

Good to see you posting here Habeeb

I've also closed all except AU. Gonna let it carry for a while.
It's nice to have some time to be on the forum again.

Enjoy the weekend everyone.
Keeping it Simple
  • #109,634
  • Mar 30, 2012 5:52pm Mar 30, 2012 5:52pm
Quoting 4tiger
1-FTA = First trouble area

2-Monthly LCS = Monthly Lowest Close of Support (the lowest that price has closed in an area of support I think?)

3-How to develop a BOX.

The bottom and top of a box are just regular support and resistance areas, drawn as a box because it's easier to see.

4- i'm not sure what a TF level is either!

you can check out pinbar's post for some terms:
http://www.forexfactory.com/showthre...57#post5442457

edit:
4- TF is time frame. If you're asking about this post from before: "Hey Steve ....

I think you are referring to TF as in Time Frame, Monthly, Weekly or Daily.

Oh, you already got it. LOL
  • #109,635
  • Mar 30, 2012 6:00pm Mar 30, 2012 6:00pm
I've been following this thread for 3 years and have finally found success with forex. The fastest way I found to learn this stuff was by going to Jim's profile and pulling up only his posts that have attachments. I have gone over every one of his charts multiple times over the course of several months and it has turned my trading around. I wanted to ask, though, about this one chart. I'm tempted to pass on this, but 2 day pb's are something I prefer to invest in. This one closed above pivot, but seems to be capped by trendline and brn. What's your take on it? I've often found the phrase, "when in doubt, escape out" to be very true, so I may just pass on it.
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  • #109,636
  • Edited 6:59pm Mar 30, 2012 6:17pm | Edited 6:59pm
Quoting jarroo
Hey Steve . .The 130.71, is that a higher TF level?

I've been waiting for Price to come down to the 129.50 to show Support from previous Resistance. Bullish PB would be nice.

Price is acting well to Support at the 130.56 Daily LCS level . .that looks interesting. I'll tell ya, these Yen pairs sure like their Highs and Lows ..
Morning Jarroo

This PB was not a good entry, although your classic TT at the 130.714 would have worked well.

I am wondering why you appeared to be more interested in the 129.500 than the 130.714 area.

Doesn't the that monthly LCS at 130.714 trump the 129.500?

Or is this the case of you considering to be washed out over time?
Which brings me to the next question which I shall post in a separate post.
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  • #109,637
  • Mar 30, 2012 6:51pm Mar 30, 2012 6:51pm
Jim

Could I ask you about the WASHED out areas.
It was actually pretty hard to find one when I started looking for an example and this is not the best example but, I think it will show what I mean.

How often does price have to cut through a weekly HCR or WCS on which TF for us to consider it washed out?

When setting up my charts, I often find an area that makes me wonder if this is now become obsolete by being cut through so many times. Yet, when I just tried to find an example, it was hard to find a good one.

It is like having car trouble, you take it to the repair shop and the problem stops.
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  • #109,638
  • Mar 30, 2012 7:09pm Mar 30, 2012 7:09pm
Hmm, this example could be due more to the momentum of the move rather than the level itself.
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  • #109,639
  • Edited 3:03am Mar 31, 2012 1:40am | Edited 3:03am
Hello everyone,
here is one setup i wld be watching.
retest of this monthly BEOB on AudNzd @ 1.28
i wld be watching if price retrace upto 1.28.
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  • #109,640
  • Mar 31, 2012 1:44am Mar 31, 2012 1:44am
AudChf:
0.9265+61.8
js to be careful i will watch how the monday opens.
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