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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

  • #111,961
  • May 19, 2012 10:32am May 19, 2012 10:32am
Thanks Q I will read up


Quoting Quezoy
I saw that Last Coke uses the 38.2 and 61.8 fib ret of the last leg as TP targets.
http://www.forexfactory.com/showthread.php?t=222441

I personally have no experice with those patterns for now, but will look for obvious trouble areas and fib ret. as TP zones.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,962
  • May 19, 2012 10:49am May 19, 2012 10:49am
german hhfa. a close below the 20 euro would be the trigger for shorts.
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meine augen sind die sterne
  • #111,963
  • May 19, 2012 10:59am May 19, 2012 10:59am
german kontron kbc on weekly. we are a little late for taking this breakout. now we can look for a retrace back to the 5 euro and enter there.
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meine augen sind die sterne
  • #111,964
  • May 19, 2012 11:48am May 19, 2012 11:48am
Quoting jarroo
We are not surprised . .are we Peter . .Bam!! . . 77.44 ( or your 77.46). . to the pip!!!

Jim
I am learning from the best but I still need more confidence.

Peter
  • #111,965
  • May 19, 2012 11:58am May 19, 2012 11:58am
Hello everyone,

I have been meaning to learn PA for a while now and trade on longer timeframes due to my dayjob.

I got stuck into this thread last night. I am now 150 pages in and I'm hooked. A few things have really clicked with me in the last few hours.

Well I hope so anyway, was hoping someone could check this out for me. Looking to long EUR/USD. We have a bullish engulfing bar (BuOB?) off a swing low support. I was thinking of longing this on open with a TP at 50% ret - maybe 61% ret with a SL just below the swing low.

Am I on the right track?
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  • #111,966
  • May 19, 2012 11:59am May 19, 2012 11:59am
Just point out, if the market gaps higher I would probably wait for the gap to be closed before placing the order.
  • #111,967
  • May 19, 2012 12:09pm May 19, 2012 12:09pm
Yes


Quoting los_pipos
Hello everyone,

I have been meaning to learn PA for a while now and trade on longer timeframes due to my dayjob.

I got stuck into this thread last night. I am now 150 pages in and I'm hooked. A few things have really clicked with me in the last few hours.

Well I hope so anyway, was hoping someone could check this out for me. Looking to long EUR/USD. We have a bullish engulfing bar (BuOB?) off a swing low support. I was thinking of longing this on open with a TP at 50% ret - maybe 61% ret with a SL just below the swing low.

Am I on the...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,968
  • May 19, 2012 12:35pm May 19, 2012 12:35pm
not that bullish since its off long term tl ,but gaps above also ,strong res at 1.3



Quoting Bones
Yes
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,969
  • May 19, 2012 12:42pm May 19, 2012 12:42pm
I have a very important query ... See, I have been going through some of the old James charts and I have noticed something that I cannot explain to my self ... According to the general rule , We are not supposed to take those trades of whom the FTA is very close because they probably will be losers . But I have seen James take those PA setups of which FTA was close and even then , Those trades succeeded . Now , if there were some added confluence , then it would have made sense , But there was no extra confluence either . Below are a couple of charts of James and A copy of each one of them from Me with the FTA drawn in grey color .... Notice how on both of them , the FTA was close but still trades worked out ... How did that happen ???
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Human
  • #111,970
  • May 19, 2012 12:56pm May 19, 2012 12:56pm
Quoting Bones
not that bullish since its off long term tl ,but gaps above also ,strong res at 1.3
I'll be placing my TP before 1.3. Downtrend has been strong, but is probably due some consolidation and the support seems solid.

I'll give it a whirl...

Thanks Bones.
  • #111,971
  • May 19, 2012 12:57pm May 19, 2012 12:57pm
My D1


Quoting los_pipos
Hello everyone,

I have been meaning to learn PA for a while now and trade on longer timeframes due to my dayjob.

I got stuck into this thread last night. I am now 150 pages in and I'm hooked. A few things have really clicked with me in the last few hours.

Well I hope so anyway, was hoping someone could check this out for me. Looking to long EUR/USD. We have a bullish engulfing bar (BuOB?) off a swing low support. I was thinking of longing this on open with a TP at 50% ret - maybe 61% ret with a SL just below the swing low.

Am I on the...
Attached Image (click to enlarge)
Click to Enlarge Name: eu d1 19-5.gif Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,972
  • May 19, 2012 1:04pm May 19, 2012 1:04pm
I think very high probability



Quoting Bones
Good trade ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,973
  • May 19, 2012 1:06pm May 19, 2012 1:06pm
Good luck Buddy ,only trade what you see !


Quoting los_pipos
I'll be placing my TP before 1.3. Downtrend has been strong, but is probably due some consolidation and the support seems solid.

I'll give it a whirl...

Thanks Bones.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,974
  • May 19, 2012 1:56pm May 19, 2012 1:56pm
Quoting Chanya
I have a very important query ... See, I have been going through some of the old James charts and I have noticed something that I cannot explain to my self ... According to the general rule , We are not supposed to take those trades of whom the FTA is very close because they probably will be losers . But I have seen James take those PA setups of which FTA was close and even then , Those trades succeeded . Now , if there were some added confluence , then it would have made sense , But there was no extra confluence either . Below are a couple of...
[b]inmho the first two charts jame16 took the trade at a swing high some space pin is protruding other bars. James take very small stops cause his style . please im not an expert just learning [b] hopefully others will chime in.
  • #111,975
  • May 19, 2012 5:15pm May 19, 2012 5:15pm
Quoting los_pipos
Hello everyone,

I have been meaning to learn PA for a while now and trade on longer timeframes due to my dayjob.

I got stuck into this thread last night. I am now 150 pages in and I'm hooked. A few things have really clicked with me in the last few hours.

Well I hope so anyway, was hoping someone could check this out for me. Looking to long EUR/USD. We have a bullish engulfing bar (BuOB?) off a swing low support. I was thinking of longing this on open with a TP at 50% ret - maybe 61% ret with a SL just below the swing low.

Am I...
Hi los_pipos

Check out my post 111960

bud_fox
  • #111,976
  • May 19, 2012 5:21pm May 19, 2012 5:21pm
Quoting Bones
Good luck Buddy ,only trade what you see !
always be carefull with friday bars. check when the moves happen. a lot of traders (and so the big money) are gone by 1pm est, to my experience.
i want to see confirmation for friday bars on monday next week.
meine augen sind die sterne
  • #111,977
  • May 20, 2012 7:38am May 20, 2012 7:38am
Quoting Chanya
I have a very important query ... See, I have been going through some of the old James charts and I have noticed something that I cannot explain to my self ... According to the general rule , We are not supposed to take those trades of whom the FTA is very close because they probably will be losers . But I have seen James take those PA setups of which FTA was close and even then , Those trades succeeded . Now , if there were some added confluence , then it would have made sense , But there was no extra confluence either . Below are a couple of...
Hey C,
i would like to say here,it all comes down to experience..
i felt the same one time ago but then there is no one way to trade,
just bcos FTA is close or BUOB is at swing high or BEOB is at swing low or it isn't cherry-picked PB doesn't mean those are invalid/crappy trades..

everyone has different style and what james,mike,jarroo posts is "the way they trade" and NOT "the only way to trade" .

follow charts and you will find answers on your own.
Good Luck
  • #111,978
  • May 20, 2012 1:27pm May 20, 2012 1:27pm
Just to be clear ,the trade on chart is a sell ,which I thought was correct Friday ,I note on the platform I chart on we are below a trendline ,I'm looking to market open to to either keep or close sell ,but only take break of 1,2800 long
I do find mt4 unreliable on tls which I like to do ,S+R very good anywhere




Quoting Bones
not that bullish since its off long term tl ,but gaps above also ,strong res at 1.3
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  • #111,979
  • May 20, 2012 2:07pm May 20, 2012 2:07pm
also ,like gold only take break in my opinion on this pin ,or be on toes
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  • #111,980
  • May 20, 2012 2:11pm May 20, 2012 2:11pm
the pin is not in line with next higher TF I hope thats not too advanced
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