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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

  • #111,141
  • May 2, 2012 11:52am May 2, 2012 11:52am
Quoting Variance
Attachment Good morning Mike, (and the other pros like Meshka and Rust)

In your experience, when you see a break of a "rounding bottom" or pitka, would you say there's more than 75% chance that it would hit a 1:1 before bouncing back?

Would love to know what you guys think (purely for educational purposes)

Thanks!!!!!

V
You are thinking in poker terms... and I am not a pro definitely I didnt finished to read even more than 150 pages of this thread if honestly. so in poker terms I am little fish which tries to make a living from fx

Your question is answered by Rust. I do not trade such pattern.
all is eternal - this is good news for people who loves bad news
  • #111,142
  • May 2, 2012 11:58am May 2, 2012 11:58am
Hey meshka,

what about this one here

that was pure TL/PPZ play?
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  • #111,143
  • May 2, 2012 12:06pm May 2, 2012 12:06pm
Quoting Variance
Hey meshka,

what about this one here

that was pure TL/PPZ play?
what does your trendline bases on ?! ....
Hero calls followed by margin calls...
  • #111,144
  • May 2, 2012 12:11pm May 2, 2012 12:11pm
Quoting PhAnTi'
what does your trendline bases on ?! ....
Dude, go back a few pages and track the entire topic first before budding in.
  • #111,145
  • May 2, 2012 12:25pm May 2, 2012 12:25pm
Quoting Variance
Dude, go back a few pages and track the entire topic first before budding in.
hahah this forum's members gettin more and more rude... ill better stay out for a while...

sorry for asking..

dont need this kind of conversation really.

good luck.
Hero calls followed by margin calls...
  • #111,146
  • May 2, 2012 12:41pm May 2, 2012 12:41pm
hahah this forum's members gettin more and more rude...

look who's talking now

ill better stay out for a while...

that may actually be very beneficial since nothing of what you're doing isn't already covered by any of the James16 senior members in the basic material alone

dont need this kind of conversation really.

sorry for asking..

then why did you bud in in the first place and say that you're sorry? sorry for what? I told you to track the topic from the beginning in the past few pages because it was easy to do.

Surely, it can't be that hard for somebody who has already flooded more than 12,000 posts to go back just a few pages no?

good luck.

Thanks, but we don't need luck. Even the basic, stock James16 methodology as taught by Mike and Jarroo offers a positive expectation that can allow any newbies to make money so we sincerely thank you for your best wishes for us.

Quoting PhAnTi'
hahah this forum's members gettin more and more rude... ill better stay out for a while...

sorry for asking..

dont need this kind of conversation really.

good luck.
  • #111,147
  • May 2, 2012 1:00pm May 2, 2012 1:00pm
I have to say though, that every reponse I got to all the questions that I have EVER posted on this forum has been useful for increasing my profitability as a trader and for me becoming a better person so since the markets are so quiete, i want to take the opportunity to thank Mike, Jarroo, Ghous, Supremechaos, Rust, Pinbar, Meshka and all you amazing people who have posted here on James16.

YOU GUYS ARE AWESOME!!!!!!!!!!!!!
  • #111,148
  • May 2, 2012 1:14pm May 2, 2012 1:14pm
Quoting PhAnTi'
what does your trendline bases on ?! ....
Are you serious, you can't tell? just kidding... I can't tell either..

Variance, "what is your trend line based on?" is a legitimate question.

The closest I can get to match that TL is this:
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  • #111,149
  • May 2, 2012 1:35pm May 2, 2012 1:35pm
Quoting 4tiger
Are you serious, you can't tell? just kidding... I can't tell either..

Variance, "what is your trend line based on?" is a legitimate question.

The closest I can get to match that TL is this:
Hey Tiger

The TL isn't mine - i reposted meshka's chart as a friendly joke. I think you're better off asking the man himself.

Cheers

V
  • #111,150
  • May 2, 2012 1:44pm May 2, 2012 1:44pm
Quoting mbqb11
so many pairs in consolidation and we are beginning to see breakouts...

...gbp/jpy broke out of its range.

Mike
My favourite trade setup by far Breakout and retest. I love minimal drawdown.

1) A good lesson for the new guys on trading into traffic vs space. One of Mike's key principles. Just follow the path of least resistance. Swim with the current, not against it.

2) 1st target met, profits off the table, REALISTIC target up ahead. I'm not hoping for miracles, I trade what I know.

Love your work Mike

T
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  • #111,151
  • May 2, 2012 1:49pm May 2, 2012 1:49pm
Quoting Variance
Hey Tiger

The TL isn't mine - i reposted meshka's chart as a friendly joke. I think you're better off asking the man himself.

Cheers

V
It's okay I got it... had to draw it backwards to find out though.

The TL was far away from the price and wasn't too relevant to the current price. Maybe a more useful TL could have been drawn by dropping down to a lower TF?
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  • #111,152
  • May 2, 2012 1:53pm May 2, 2012 1:53pm
Quoting 5.25
My favourite trade setup by far Breakout and retest. I love minimal drawdown.

1) A good lesson for the new guys on trading into traffic vs space. One of Mike's key principles. Just follow the path of least resistance. Swim with the current, not against it.

2) 1st target met, profits off the table, REALISTIC target up ahead. I'm not hoping for miracles, I trade what I know.

Love your work Mike

T
nice job Tomek
  • #111,153
  • May 2, 2012 1:55pm May 2, 2012 1:55pm
Quoting 4tiger
It's okay I got it... had to draw it backwards to find out though.

The TL was far away from the price and wasn't too relevant to the current price. Maybe a more useful TL could have been drawn by dropping down to a lower TF?
I totally agree with you there Tiger.

That's why for the previous rounding top discussion, and most of our head and shoulders patterns, we tend to draw trendlines that "go through price", or what are commonly known as Tom De Mark trendlines haha....

Furthermore, these useful trendlines are often even curve fitted but it's not set in stone because it's just one little factor that we use in conjunction with price action / fibs / ppz's / div* timeframes, etc

The traditional technical trendlines as defined by Edwards and McGee are NOT allow to go through price but are often not useful because they factor in only the extremes of price as opposed to the visual momentum that we see clearly.

Great observation there Tiger!
  • #111,154
  • May 2, 2012 2:00pm May 2, 2012 2:00pm
Great! Now if PhAnTi' ever comes back to read what you just posted!
  • #111,155
  • Edited 2:11pm May 2, 2012 2:01pm | Edited 2:11pm
...watch out... mini geek out, BRN alert... :nerd: ...
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  • #111,156
  • May 2, 2012 2:24pm May 2, 2012 2:24pm
Quoting 5.25
...watch out... mini geek out, BRN alert... :nerd: ...


so you better keep an eye on this too
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  • #111,157
  • May 2, 2012 2:26pm May 2, 2012 2:26pm
Quoting 5.25
...watch out... mini geek out, BRN alert... :nerd: ...
Nice catch . It's a confluence man !
  • #111,158
  • May 2, 2012 2:36pm May 2, 2012 2:36pm
Quoting mbqb11


so you better keep an eye on this too
Quoting Rust
Nice catch . It's a confluence man !
It just gets better. GBPPLN...? I'm London born to Polish parents, Mike, you summed me up on a chart!
  • #111,159
  • May 2, 2012 2:58pm May 2, 2012 2:58pm
Since the trend line topic is so hot.

Div,
Uptrend channel, Swing low.
4h Pin, Daily forming
Pin of the BRN 1.03 and Daily HCR
Playing it till the upper trend line ofcourse with proper MM along the way.

Apologies for the messy charts. I confuse myself sometimes with them

Best
-H
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  • #111,160
  • May 2, 2012 3:01pm May 2, 2012 3:01pm
Quoting 5.25
It just gets better. GBPPLN...? I'm London born to Polish parents, Mike, you summed me up on a chart!
HAHAHA that's freaky
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