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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

  • #110,661
  • Apr 24, 2012 6:50am Apr 24, 2012 6:50am
GBP/CAD took this one short: nice daily pin, TL and BRN 1.6000

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  • #110,662
  • Apr 24, 2012 7:02am Apr 24, 2012 7:02am
Hi Man!

Somebody knows a strategy in connection with james tread, which has a fix R/R=1, and it is better than 50%??? I am looking for this strat a long time ago. If everything is true, thera are some entry have better success ratio like 50%. Of course if i move my stops to BE 0,2 RR, than i have 80% success ratio, but it not about the entry its about the fast stop movement to BE.

I hope everybody understand my sentences...

Zeee
  • #110,663
  • Apr 24, 2012 7:20am Apr 24, 2012 7:20am
Anyone know when James would be posting new charts or Videos?
  • #110,664
  • Apr 24, 2012 7:36am Apr 24, 2012 7:36am
Quoting bullzeye
GBP/CAD took this one short: nice daily pin, TL and BRN 1.6000

Attachment
Nice.
My broker does not have this pair, but Im short GBP/USD.

How did your EUR/CAD trade turn out?
Thoughts are things
  • #110,665
  • Apr 24, 2012 8:31am Apr 24, 2012 8:31am
Quoting Zeee86
Hi Man!

Somebody knows a strategy in connection with james tread, which has a fix R/R=1, and it is better than 50%??? I am looking for this strat a long time ago. If everything is true, thera are some entry have better success ratio like 50%. Of course if i move my stops to BE 0,2 RR, than i have 80% success ratio, but it not about the entry its about the fast stop movement to BE.

I hope everybody understand my sentences...

Zeee
It is maybe a part of the journey to search for this mechanical simplicity , but there is a quote from Albert Einstein , which nails the answer :
"Everything should be made as simple as possible, but not simpler"

If you believe in the power of support and resistance and price bars and reaction , why would you use them for an entry , but not for an exit as well ?
  • #110,666
  • Apr 24, 2012 8:31am Apr 24, 2012 8:31am
Quoting Chanya
Hey Mike , Plz give me your point of view on this stuff . How does James16 material teaches us to treat with the trend lines ? I mean long term trend line , I get it , Channels , I get it , Using all kinds of trendlines for confluence of support and resistance , I get that too . But whats causing me trouble is , SHORT TERM TRENDLINES BREAK OUTS . See , below are the two charts I had been looking at yesterday . Just looking , and trying to expand my trading tools ... See how both of them behaved . What went wrong ?
Hey C

It's very important to always remember that things are not going to be perfect most of the times. Trendlines like horizontal s/r can also be "zones". So the above are just very simple trendlines here. They got slightly over shot BUT the idea or nature of the trendlines were in tact. So just cause price violates or overshoots a trendline a bit doesn't invalidate what is taking place. James often says he visually looks for trendlines as opposed to perfectly draws them. Horizontal S/R is the same thing as well. This is also how I use them. The ones that are more perfect to me have better touches and are stronger. Yours above are some very short term "trends" on the 4hr

Hope that helps!
Mike
  • #110,667
  • Apr 24, 2012 8:33am Apr 24, 2012 8:33am
Im seeing a bullish pin on GBP/USD
  • #110,668
  • Apr 24, 2012 8:49am Apr 24, 2012 8:49am
my almost A trade today ouch sorry EA trade
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all is eternal - this is good news for people who loves bad news
  • #110,669
  • Apr 24, 2012 9:00am Apr 24, 2012 9:00am
my little beast ... similar situation - breakup and rejection on rebound back to PPZ at 130.00 zone
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all is eternal - this is good news for people who loves bad news
  • #110,670
  • Apr 24, 2012 9:05am Apr 24, 2012 9:05am
Quoting bullzeye
GBP/CAD took this one short: nice daily pin, TL and BRN 1.6000

Attachment
Hey Bullzeye

Just be super super careful and monitoring ones like this close. We are in a TON of traffic and a very very consolidated and sideways market(we can see all that chop up and down as well as if we zoom out see how much this pair has been consolidating). Just watch these very very very close or they can be painful and quick.
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  • #110,671
  • Apr 24, 2012 9:08am Apr 24, 2012 9:08am
EURUSD breaking up?
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all is eternal - this is good news for people who loves bad news
  • #110,672
  • Apr 24, 2012 9:13am Apr 24, 2012 9:13am
Quoting mbqb11
Hey C

It's very important to always remember that things are not going to be perfect most of the times. Trendlines like horizontal s/r can also be "zones". So the above are just very simple trendlines here. They got slightly over shot BUT the idea or nature of the trendlines were in tact. So just cause price violates or overshoots a trendline a bit doesn't invalidate what is taking place. James often says he visually looks for trendlines as opposed to perfectly draws them. Horizontal S/R is the same thing as well. This is also how I use...
Hi Mike,

Very educating input.... Would you say this is the sort of situation where the trader would be justifying a trade out of nothing? You mention that in your view, its a mild deviation from the trend but i deciphered it as a clear break of trend with an H4 BUOB, which also closed above the significant PPZ 1.27763 to 1.2799. Would the area above this level, lets say to 1.286 not be considered as space?

Best
-H
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  • #110,673
  • Apr 24, 2012 9:21am Apr 24, 2012 9:21am
Aussie landscapes
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all is eternal - this is good news for people who loves bad news
  • #110,674
  • Apr 24, 2012 9:25am Apr 24, 2012 9:25am
Quoting goldfish3
Hi Mike,

Very educating input.... Would you say this is the sort of situation where the trader would be justifying a trade out of nothing? You mention that in your view, its a mild deviation from the trend but i deciphered it as a clear break of trend with an H4 BUOB, which also closed above the significant PPZ 1.27763 to 1.2799. Would the area above this level, lets say to 1.286 not be considered as space?

Best
-H
Hey H

There are a few things that I would be watching out for

Firstly notice your BUOB is up at a swing high point. Remember we want buobs at swing low points where James teaches us. Continuation bars are where I start to see people get tripped up when moving away from the proper locations to start with. This is why we stress so much about building the basics(including sticking to larger timeframes until we can accomplish the minimum requirements). I know the urge is always there but that foundation is very important in my experience.

In this case to me firstly that rising TL(the top one) is never one I would trade long away from. Since it is a rising trendline. I would need that to be a descending TL. In the case of a rising TL, and especially where price is "funneling" to a point this is often a sign(if the pattern is strong enough, here it is too short term for me) of fading momentum and can be a sign of a reversal. I will look for this funneling effect with other forms of confluence and PA bar for reversals.

In this case though I believe trying to add all these smaller trendlines is more distracting then helpful when starting out. I would stick to much stronger identifiable trendlines.

In this case we can see price is trading back into the previous box that capped price. The midpoint of these boxes are also strong S/R zones. I would be more interested in watching what price does if it retests the last swing high.

As always these are just how I use the concepts, hope it helps
Mike
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  • #110,675
  • Apr 24, 2012 9:39am Apr 24, 2012 9:39am
potential trade ... offcourse daily candle isnt closed yet.

it was meshka's trading channel. Thank You for watching Bye bye
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all is eternal - this is good news for people who loves bad news
  • #110,676
  • Apr 24, 2012 9:58am Apr 24, 2012 9:58am
some movement in the market right now

NZD..we have confluence with the on going trendline dating back years. and a nice bar is forming on the 1H
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  • #110,677
  • Apr 24, 2012 10:06am Apr 24, 2012 10:06am
Hey Everyone,
I have a few questions regarding Martin Pring on Price Patterns, for those of you who have read it! I went back to the 'source' because to my understanding, some of the methods taught here have their origins from there.

1. Arithmetic VS Logarithmic Charts
There are advantages and disadvantages to both charts, how do I go about viewing a Logarithmic scaled chart on MT4? Does anyone use logarithmic charts?

2. Trendlines
I find drawing TLs to line charts more comfortable, price spikes (highs and lows) are not shown in line charts. Can anyone verify this? Does anyone find drawing TLs to line graphs work just as well as drawing them to bar charts?

3. What was I going to ask... oh right, Volume Analysis:
This is my main question, I have read that VA is not really applicable in the forex market because there is no centralized market? But Martin Pring talks a lot about VA and how it helps to confirm breakouts and completion of price action patterns. Is this why people use MACD instead, because it's another way of indicating a viable breakout?

Is it okay to say that an increased MACD value on a bullish breakout of.. let's say, a rectangle adds confirmation to the breakout?

Thanks!

-----------------------------------------

Quoting meshka
EURUSD breaking up?
I hope not! It's been a disappointing few days waiting for the bearish H&S formation to complete on the daily charts!
  • #110,678
  • Apr 24, 2012 10:24am Apr 24, 2012 10:24am
This stuff is so powerful it just hurts!!!
  • #110,679
  • Apr 24, 2012 10:27am Apr 24, 2012 10:27am
Yo !
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How I made 0.5% in 5 minutes It was so quick , that it was over before i could get the chart ready to post


UPDATE :
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  • #110,680
  • Apr 24, 2012 10:59am Apr 24, 2012 10:59am
I have a question about divergence, I've attached a chart.

The green line is divergence, is the yellow line also divergence or is it not appliable anymore?
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Thoughts are things
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