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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

  • #110,941
  • Apr 29, 2012 6:51am Apr 29, 2012 6:51am
Hey , there was this guy named CLOCKWORK71 , real pro . Where did he go ?
Human
  • #110,942
  • Apr 29, 2012 8:04am Apr 29, 2012 8:04am
he is next around the corner
http://www.forexfactory.com/showthread.php?t=155431
all is eternal - this is good news for people who loves bad news
  • #110,943
  • Apr 29, 2012 8:05am Apr 29, 2012 8:05am
GBPJPY is interesting, we have bearish outside bar wth close below 131 and rejection of resistance...unfortunately outside bar close is in ppz, so we need to wait until 130 lvl will be broken...
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  • #110,944
  • Apr 29, 2012 8:28am Apr 29, 2012 8:28am
Quoting Quezoy
Tnx meshka.

I guess I'll check the big names out and stick with one. I'll start with Alpari.
Yes they are an option for us retailers too. I heard only goood words about them while they operated in Russia only, now they expanded around world, coworking with Dukascopy and offer Pro platform powered by Currenex Viking. They offer many products. I had no contact with them but I think theyre pretty good choice.
You can also check SAXOBANK they offer 160+ fx pairs or something but their minimum lot is 5000 You can trade options futures etc through them also.
all is eternal - this is good news for people who loves bad news
  • #110,945
  • Apr 29, 2012 9:07am Apr 29, 2012 9:07am
I'd like to see some bullish PA on AUDCAD, on W1 we have pinbar - not big, but large TF + round number + ppz and some important lvls + weak divergence (but still). On H4 trendline has been broken, now price is in trouble area - it would be cool to see some bullish pinbar or outside bar...
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  • #110,946
  • Apr 29, 2012 9:50am Apr 29, 2012 9:50am
Quoting Chanya
Hey , there was this guy named CLOCKWORK71 , real pro . Where did he go ?
he went commercial and spun off (in quite a violent fashion) from the James16group to his own PF and thread. You can find his thread by the name "silent service method" here in the commercial section of FF

g.
I believe . . .
  • #110,947
  • Apr 29, 2012 10:23am Apr 29, 2012 10:23am
Quoting ghous
he went commercial and spun off (in quite a violent fashion) from the James16group to his own PF and thread. You can find his thread by the name "silent service method" here in the commercial section of FF

g.

What that mean ' Violent Fashion ' ?
Human
  • #110,948
  • Apr 29, 2012 11:01am Apr 29, 2012 11:01am
Hi there,

trying to find my way in deciphering charts...
Can this be called a BUOB?
I would see it happening on a confluence of 150EMA, 8100RN, and 2 Fibs retracements - which, from what I've read, would be a good support...

On the other hand, I am wondering about the possible targets. 8290 is an approximation of 3 bar highs. This wouldn't make much space (~50pips or so).
Would 8400 be another possible target? (Higher Close of Resistance, if I am right, of 12-19 feb bars).
Last but not least, price seems to move "in a box", which bothers me a bit...
AND it's not at a swing low...

Still new to that, so I am sure I am missing a lot. Please apologize for that!

Thanks!
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Slow & steady
  • #110,949
  • Apr 29, 2012 11:29am Apr 29, 2012 11:29am
Quoting Quezoy
Tnx meshka.

I guess I'll check the big names out and stick with one. I'll start with Alpari.
Im using hantec markets. They seem alright. they are ECN STP regulated broker based in UK. Micro lots are allowed so is hedging, scalping etc. Spreads are mediocre but they have excellent customer support. Their drawback is though that they end their day at 0000 london time and i notice that certain set-ups tend to get missed. so i use the demo of fxopen for the US close candles so research most of the time.

Im not very experienced with many brokers the only other ones ive used for live accounts is oanda, which was not up to the mark, and fxcm which was even worst.

edit: also they offer 50+ pairs and about 15 ish cfd's

Best,
-H
  • #110,950
  • Apr 29, 2012 12:00pm Apr 29, 2012 12:00pm
Quoting Chanya
What that mean ' Violent Fashion ' ?
Oh well...let's not get into that. Forget it...

g.
I believe . . .
  • #110,951
  • Apr 29, 2012 12:12pm Apr 29, 2012 12:12pm
Quoting patapouer
Hi there,

trying to find my way in deciphering charts...
Can this be called a BUOB?
I would see it happening on a confluence of 150EMA, 8100RN, and 2 Fibs retracements - which, from what I've read, would be a good support...

On the other hand, I am wondering about the possible targets. 8290 is an approximation of 3 bar highs. This wouldn't make much space (~50pips or so).
Would 8400 be another possible target? (Higher Close of Resistance, if I am right, of 12-19 feb bars).
Last but not least, price seems to move "in a box", which bothers...
hey P,

Yes that's technically a BUOB.

However these work best when at swing lows and this one's quite near the swing high, which although doesn't make it untradable, but certainly makes managing it very tricky.

Tricky in the sense that you need to be absolutely sure of your trouble areas and be ever ready to see them hold big time. The reason is that naturally people want to be selling high and buying low, so you need to be on the watch out for such action at all your trouble areas as opposed to being too inclined to watch the major areas only.

In this context the trade setup you point out is a pretty risky bet for me, given the fact that we're heading into the 8250 MAJOR PPZ and a MAJOR RESISTANCE TREND LINE which essentially kills any breathing room for the trade. Combine that with the fact that you're trading a BUOB near a swing high and there's enough "riskiness" about that trade.

Hope this helps.

g.
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I believe . . .
  • #110,952
  • Edited 1:32pm Apr 29, 2012 12:46pm | Edited 1:32pm
To everybody who gave their opinion about my broker question...

I just found out that, if I choose "show all" in the market watch window, suddenly, more pairs apear. Like magic.



Then. I'll stay with Pepeperstone for now.
- - - -

btw. I'm positive also in the 2nd month trading j16
Thoughts are things
  • #110,953
  • Apr 29, 2012 2:14pm Apr 29, 2012 2:14pm
Quoting Quezoy
To everybody who gave their opinion about my broker question...

I just found out that, if I choose "show all" in the market watch window, suddenly, more pairs apear. Like magic.



Then. I'll stay with Pepeperstone for now.
- - - -

btw. I'm positive also in the 2nd month trading j16
congrats Q! Keep it up

Mike
  • #110,954
  • Apr 29, 2012 2:25pm Apr 29, 2012 2:25pm
Quoting ghous
hey P,


In this context the trade setup you point out is a pretty risky bet for me, given the fact that we're heading into the 8250 MAJOR PPZ and a MAJOR RESISTANCE TREND LINE which essentially kills any breathing room for the trade. Combine that with the fact that you're trading a BUOB near a swing high and there's enough "riskiness" about that trade.

Hope this helps.

g.
Hi Ghous,

This confirms what I was thinking. Thanks for your answer!

By the way, just to make it clear: I am just currently looking at possible set ups, trying to have a good look at them. I am still in the earlier research stages of my R&D project

thus still looking at charts and deciphering them!
Slow & steady
  • #110,955
  • Apr 29, 2012 2:41pm Apr 29, 2012 2:41pm
Hi guys - Nice PPZ on GBPJPY around the 130.00 level with a 38.2 Fibonacci retrace closely aligned. The daily candle from Friday is quite bearish so a blind entry may be risky. PA at 130.00 could be of interest though.
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  • #110,956
  • Apr 29, 2012 3:45pm Apr 29, 2012 3:45pm
Hello fellow traders. This is my first post here at forex factory. I am attempting to start reading the James16 chart thread and wanted to ask a few question that I hope is not too dumb.

So far I have read the first 2 pages of the thread and have looked at all of the charts posted from James 16. I think I can understand what the trade setups are when a dblhc, dbhlc, beovb, or buovb occur, but I want to confirm this before reading on. Am I correct that you sell on dbhlc and beovb and you buy on dblhc and buovb? Do you enter these trades on the very next candle?

How many of the original posts does everyone think I should read on this thread in order to be "caught up"? I have seen some posts that say 500, 1000, and 2,000.

Any help/assistance with this would be greatly appreciated!

Thank you.
  • #110,957
  • Apr 29, 2012 4:06pm Apr 29, 2012 4:06pm
Quoting mbarker22
Hello fellow traders. This is my first post here at forex factory. I am attempting to start reading the James16 chart thread and wanted to ask a few question that I hope is not too dumb.

So far I have read the first 2 pages of the thread and have looked at all of the charts posted from James 16. I think I can understand what the trade setups are when a dblhc, dbhlc, beovb, or buovb occur, but I want to confirm this before reading on. Am I correct that you sell on dbhlc and beovb and you buy on dblhc and buovb? Do you enter these trades...
Hey mbarker

Welcome to the thread(yes it's big)

I think reading at least the first few hundred pages will help get your feet wet enough, but it will take awhile to really get this stuff. Make sure to read all of James16 posts many many many times.

Yes you are correct about the above bar formations.

There are many ways to enter

On the break-(taking out the high/low of a bar. ex. DBHLC sell when price breaks the LOW of the DBHLC). A bar is not valid till it breaks, so this is the traditional way we explain to use the bars when first learning.

On a retrace - Selling when price retraces a bar setup(using PPZs, round numbersz, fibs, s/r, etc). Ex Having a sell limit at the 50% retrace of a DBHLC

On a close - simply entering once price closes

Many variations of the above as well

Again welcome and good luck! I know there is a lot to go through but it's fun and worth it

Mike
  • #110,958
  • Apr 29, 2012 4:22pm Apr 29, 2012 4:22pm
mbqb11,

Thanks so much for the reply. Can you also tell me, does ppz mean pivot point zone? If so, would I plot this on a chart using daily pivot points?
  • #110,959
  • Apr 29, 2012 5:02pm Apr 29, 2012 5:02pm
Quoting fxprocessor
Hi guys - Nice PPZ on GBPJPY around the 130.00 level with a 38.2 Fibonacci retrace closely aligned. The daily candle from Friday is quite bearish so a blind entry may be risky. PA at 130.00 could be of interest though.
Hi fx
Some price action at 1.30 would push the price back into blue consolidation and a close above it... back to 1.33 after a retest of the same blue consolidation.
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Nothing personal,just business
  • #110,960
  • Apr 29, 2012 5:03pm Apr 29, 2012 5:03pm
Quoting mbarker22
Hello fellow traders. This is my first post here at forex factory. I am attempting to start reading the James16 chart thread and wanted to ask a few question that I hope is not too dumb.

So far I have read the first 2 pages of the thread and have looked at all of the charts posted from James 16. I think I can understand what the trade setups are when a dblhc, dbhlc, beovb, or buovb occur, but I want to confirm this before reading on. Am I correct that you sell on dbhlc and beovb and you buy on dblhc and buovb? Do you enter these trades...
After I read the first 2 pages of this thread I dropped everything and stopped trading altogether. Took 2-3 years off, to absorb everything took notes paper traded etc.. last year Finally opened a demo account and got it profitable for 6months, now just trying a micro live account about a month ago and I'm still not caught up with all the reading, still trying to get pass page 10 lol. At least you are in the right place to learn.
Stop thinking like a retail trader
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