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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

  • #112,081
  • May 23, 2012 2:29am May 23, 2012 2:29am
Quoting dgross07
Brand new member of james 16. Have learned so much already but over whelmed with all the posts to work through. Is there a summary post that walks you through step by step basics of what to look for and set up on each time frame as you go from the higher time frames down to the daily? Thanks. Darcy
apart from post 1 (which, as Mike said, you really want to read thousands times ) and the next few hundred pages, you may wish to extensively read this:
http://www.forexfactory.com/showthre...42#post3489242

As well as this one, though not in off-line format.. http://www.forexfactory.com/showthre...99#post2585699
Slow & steady
  • #112,082
  • May 23, 2012 2:32am May 23, 2012 2:32am
Quoting Pinbar
Yes, exactly, if you were looking for a short.

Good job.

I was leaning towards, the triple bottom holding and this LCS & HCR in kicking price off for a possible break of the weekly PB.
Thanks PinBar, it's always good to practice on senior members' advice
wish I had more time to dedicate to run through...
Slow & steady
  • #112,083
  • May 23, 2012 2:42am May 23, 2012 2:42am
Quoting mbarker22
Quezoy, I feel your pain. I think I might be newer than you on this thread, but I feel like I do the same exact thing. Keep your head up, I believe it will get easier for us both with more practice/experience.
Quoting beebolbod
Sometimes it's good to step away from the forums m8. Other people getting stuff you missed can sometimes screw with ones head when starting out. I still get that feeling. Just focus on what you do spot being right and in time you'll be spotting stuff all over the place.
Quoting mbqb11
yep

time, practice, time, and more of the same. Only way any of us ever got this

A good way to realize this is think back to day one when you got into trading compared to what you know now. That keeps happening as long as you study, practice, demo and continue to learn and be open and honest with yourself and trading


Mike
Tnx guys.
Those last days I was exploring some other techniques and this added additional weight on the situation. Shouldnt have done that, but its hard to resist...
I think I'll stop trading for this week maybe and will just study charts.
Thoughts are things
  • #112,084
  • May 23, 2012 2:52am May 23, 2012 2:52am
Quoting dgross07
Brand new member of james 16. Have learned so much already but over whelmed with all the posts to work through. Is there a summary post that walks you through step by step basics of what to look for and set up on each time frame as you go from the higher time frames down to the daily? Thanks. Darcy
No such thing Im afraid. Just have to grind through the thing and internalise what the guys write about. Its not easy, but its worth it - or so people tell me

Here is something like a sumup: http://www.forexfactory.com/showthre...99#post2585699
Thoughts are things
  • #112,085
  • May 23, 2012 3:26am May 23, 2012 3:26am
Quoting mbqb11
I made a video that I have re-uploaded so I don't have to find the post.

http://drop.io/cfnoat3

Let me know if that helps
Mike
Hello Mike, Is this the only link to the space and traffic video ? The link seems to be not working.
  • #112,086
  • May 23, 2012 3:48am May 23, 2012 3:48am
Quoting patapouer
Thanks PinBar, it's always good to practice on senior members' advice
wish I had more time to dedicate to run through...

The daily bar just broke right through it.
Let's see how the daily bar closes.

If it isn't acting as support, as it is currently not, this area may have flipped to resistance.
Let's see if we get any small time PA of this area tomorrow.
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  • #112,087
  • May 23, 2012 3:58am May 23, 2012 3:58am
Quoting Magestic
So this is over. As Mike escorted me through this one one last question to this trade.
Mike, would you escape some other place if you were in that one, or leave your stop below Monday's candle till the end? It even had some positive pips before Monday close.
Hi Magestic,
I'm with you - I think market and Mike gave us enough signals to escape.
Look at H4 chart - there was double top and there we should run away @ BE+.

Peter

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  • #112,088
  • May 23, 2012 4:36am May 23, 2012 4:36am
Maybe there hard to follow ,but very good in info for you guys ,Ive thought about it I will simplify for you later

and I will keep within J16 rules as well ,if you dont want to learn put me on ignor list

nothing personal



Quoting meshka
Bones... pls stop it. You just flooding J16 thread pages with Your hard to follow read and pics.

Nothing personal of course .
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,089
  • May 23, 2012 4:39am May 23, 2012 4:39am
Quoting trc
Hi Magestic,
I'm with you - I think market and Mike gave us enough signals to escape.
Look at H4 chart - there was double top and there we should run away @ BE+.

Peter

Attachment
Yes I agree. I had this in mind. The situation developed slowly with considarable drawdown, price stalling near 1.28 lvl.

As I notice the market usually gives us a chance to escape, the only thing we must learn, how to see it. I should have move to BE when price finally broke on the Monday close. It was already 24h in trade without strong burst up. Of course it could shoot, but I had to be smart and stop this agony. Nice trade to educate ourselves.
If not up, then down, otherwise sideways :-)
  • #112,090
  • May 23, 2012 5:11am May 23, 2012 5:11am
AUD/JPY

reached the FTA, i banked half of the profit and set my SL to BE

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  • #112,091
  • May 23, 2012 5:14am May 23, 2012 5:14am
Quoting Quezoy
At the moment, I am just confused.
I go through charts in this thread and other PA ones and things seem clear to me. Then scroll through my charts, try to implement it, look for setups and see nothing. Or I take some mediocre ones. And the next day someone posts a trade example and I think to myself: "How the f***did I not see this...???"

Guess I just have to keep on grinding. But it does feel like 1 step forward and 2 steps back at the moment.
Experience = Time x Practice . Don't rush it , can't do this without much experience . One of the first things i noticed some time ago , browsing members' profiles was all of those who seemed to know what are doing were checked 5+ years of trading I was thinking , that i am very smart and i put a lot of time for this , so i should progress faster ... but ... i didn't You just can't outrun time.
  • #112,092
  • May 23, 2012 5:29am May 23, 2012 5:29am
Yes Rust, I can agree on that.

It seems, things really need to come into your blood, before you can confidenly execute trades.
We want to rush it, reading, watching, sitting in front of the charts all day long... but it wont really work, until it settles.
Thoughts are things
  • #112,093
  • Edited 5:45am May 23, 2012 5:33am | Edited 5:45am
This PB hit its target perfectly.

New people, please ignore the TF.
It may be an M30 PB but, it came of the weekly LCS and the consolidation box.
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  • #112,094
  • May 23, 2012 5:47am May 23, 2012 5:47am
Failed why ?


Quoting Bones
also ,like gold only take break in my opinion on this pin ,or be on toes
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,095
  • May 23, 2012 5:52am May 23, 2012 5:52am
in danger,

confusing why ??


Quoting Bones
ok you prob think prime location ,crazy tony right ?

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,096
  • May 23, 2012 5:53am May 23, 2012 5:53am
pin works it really does but look at risk not everything in FX is real
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,097
  • May 23, 2012 6:08am May 23, 2012 6:08am
Quoting Bones
Failed why ?
These stairways could have something to do with it. LOL
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  • #112,098
  • May 23, 2012 6:20am May 23, 2012 6:20am
I am out as, I do not like these 3 bar lows and how price reacted to them previously.
Also, no close above this LCS in 3 bars.
Going to see how the daily closes.
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  • #112,099
  • May 23, 2012 6:29am May 23, 2012 6:29am
lol I like it !


Quoting Pinbar
These stairways could have something to do with it. LOL
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,100
  • May 23, 2012 6:34am May 23, 2012 6:34am
Quoting Bones
lol I like it !

Yeah, Mikes staircase, I hear he lives in the attic waiting for PBs to arrive, in an exhausted state from climbing all those stairs.


Totally agree.
A quick hitter.
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