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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

  • #112,621
  • Jun 4, 2012 4:07pm Jun 4, 2012 4:07pm
Quoting mbqb11
updated chart. Classic j16
This is a Classic James16 PA in my book . . . PinBar on the Weekly CadChf . .

It has some pitbull qualities . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,622
  • Jun 4, 2012 4:10pm Jun 4, 2012 4:10pm
Quoting mbqb11
yep sure is
Now we'll wait and see if she'll come down a bit and pick up some more buyers . . . . .she may already have enough . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #112,623
  • Jun 4, 2012 4:36pm Jun 4, 2012 4:36pm
Quoting jarroo
Here's an actual setup I'm looking at currently on the Daily AudCad.

My success rate is very high because I keep my losses very small and my profit taking / trade management is applied when Price hits their Targets (in blue 2nd chart).

I usually don't post actually trades, mainly just the S/R method I use . .which is more inline with James16's S/R trading .

Hi , how are you ?

I have noticed that you have put the blue lines as your targets . So , are these your final targets ? Or you will take partial profits and move stops ? If its you final profit , Don't you catch long runners ?
Regards
Human
  • #112,624
  • Jun 4, 2012 4:38pm Jun 4, 2012 4:38pm
Hi mike , Last week you told me that you will tell me how you have managed your weekly pinbar trade ... So ?
Human
  • #112,625
  • Jun 4, 2012 4:42pm Jun 4, 2012 4:42pm
Quoting jarroo
Here's one to watch on the EurGbp at the 0.8093 Highest Close of Resistance level . .
And if its not asking too much , only one other thing is unclear to me about your style of trading is how you manage trade , so kindly give some example of some trade that you took and managed till the closing of the trade ...
Thanks .
Human
  • #112,626
  • Jun 4, 2012 4:51pm Jun 4, 2012 4:51pm
Quoting Chanya
Hi , how are you ?

I have noticed that you have put the blue lines as your targets . So , are these your final targets ? Or you will take partial profits and move stops ? If its you final profit , Don't you catch long runners ?

Regards
Hey Chanya.

The answer to all of your questions . . . is Yes.

If my entry is filled and Price starts moving toward the targets I will reduce my risk by moving my S/L to or near break even .

I want to see Price Break through and Close above my targets . .be it happening on the Daily or 4 Hour /Hourly.

When this happens I can move my S/L under my target(s) . . . . if Price retreats and hits my S/L under my targets .. I'm out . .if it doesn't hit my S/L then a potential runner is at hand.
Indicators show the past. Price Action "Indicates" the future.
  • #112,627
  • Jun 4, 2012 4:59pm Jun 4, 2012 4:59pm
Quoting jarroo
Here's an actual setup I'm looking at currently on the Daily AudCad.

My success rate is very high because I keep my losses very small and my profit taking / trade management is applied when Price hits their Targets (in blue 2nd chart).

I usually don't post actually trades, mainly just the S/R method I use . .which is more inline with James16's S/R trading .
Looks like Price is reacting to this HCR level at the 1.0100 . .Price did Close above this level too. . .albeit a minor HCR level.
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Indicators show the past. Price Action "Indicates" the future.
  • #112,628
  • Jun 4, 2012 5:02pm Jun 4, 2012 5:02pm
Quoting Chanya
Hi mike , Last week you told me that you will tell me how you have managed your weekly pinbar trade ... So ?
Hey C

From the best of my memory(I lost the video I was making on this one)

My stop movements were roughly as followed. It would take me too long to dig up each of the posts in the PF.

So each arrow is when I moved my stop(using the stop labels). This is just to give you a rough idea of what I did. So each arrow goes with the same price label. So arrow one is when I moved my stop up under the 7500 level and so on.

Best
Mike
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  • #112,629
  • Jun 4, 2012 5:07pm Jun 4, 2012 5:07pm
Quoting mbqb11
Hey C

From the best of my memory(I lost the video I was making on this one)

My stop movements were roughly as followed. It would take me too long to dig up each of the posts in the PF.

So each arrow is when I moved my stop(using the stop labels). This is just to give you a rough idea of what I did. So each arrow goes with the same price label. So arrow one is when I moved my stop up under the 7500 level and so on.

Best
Mike
Thank You
Human
  • #112,630
  • Jun 4, 2012 6:36pm Jun 4, 2012 6:36pm
Quoting jarroo
Yeah maybe a little too far back Pinbar . . don't get me wrong, those were great levels at the time they were presented and worked out very well. But over time, traffic and consolidation tends to gather around them and they lose their effectiveiness . .it still good to make noted of them.


Looks like the Daily failed to close below this HCR level, 1.2837 on the AudNzd. Yet it closed above on the Daily . .could be going up . .
Thanks Jim

Yes, this area on the weekly looks strong and we can see a RH&S pattern forming. Would be surprised to see it break long.
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  • #112,631
  • Jun 4, 2012 7:21pm Jun 4, 2012 7:21pm
Waiting for this sell order to get filled.
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  • #112,632
  • Jun 4, 2012 10:13pm Jun 4, 2012 10:13pm
Quoting jarroo
This is a Classic James16 PA in my book . . . PinBar on the Weekly CadChf . .

It has some pitbull qualities . .
Yep, but unfortunately I missed the entry short on the 0,9315 yesterday level by a few pips. Oh well, there is still the GBPCHF from the weekly 1,4880 level which I didn't miss. Thank you again, you, James and Mike showed us the way...
  • #112,633
  • Jun 4, 2012 10:32pm Jun 4, 2012 10:32pm
Jarroo

As this is a monthly level we are looking at, would you consider these monthly lows and close as the targets?

Thanks Jim
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  • #112,634
  • Jun 4, 2012 10:37pm Jun 4, 2012 10:37pm
Breakout and retest on the trendline? Please comment.
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" The fool who never traded Demo "
  • #112,635
  • Jun 4, 2012 10:41pm Jun 4, 2012 10:41pm
Quoting jarroo
Here's an actual setup I'm looking at currently on the Daily AudCad.

My success rate is very high because I keep my losses very small and my profit taking / trade management is applied when Price hits their Targets (in blue 2nd chart).

I usually don't post actually trades, mainly just the S/R method I use . .which is more inline with James16's S/R trading .
Quoting jarroo
Looks like Price is reacting to this HCR level at the 1.0100 . .Price did Close above this level too. . .albeit a minor HCR level.

Quoting Chanya
And if its not asking too much , only one other thing is unclear to me about your style of trading is how you manage trade , so kindly give some example of some trade that you took and managed till the closing of the trade ...
Thanks .

Bam!! . .how's that for real time . .

Chanya . .we can see that Price is breaking through our targets we now place our S/L under our targets . . .We can take use full or partial postions.

You got to love that small draw down . .at the 1.0086.

The 1.0100 was also a valid entry but at a premium Price.

Initiall S/L could have been placed 25-30 pips below the 1.0086 entry. . .same S/L placement for the 1.0100 entry.
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Indicators show the past. Price Action "Indicates" the future.
  • #112,636
  • Jun 4, 2012 10:47pm Jun 4, 2012 10:47pm
This trade looks enticing. It has room to go to at least 0.9530 when it breaks 0.9600. Can place a tight 30 pips stop just above today's high so far at 0.9615. Price is currently dancing at the 23.6 fib drawn from the recent up move. 0.9500 is my second target where 38.2 fib is located.

TP at 50 pips away - 0.9530

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The only worry is the consolidation box to the left. But I feel the bearish move has not be exhausted yet. Given the BEOB at the high and divergence.
  • #112,637
  • Jun 4, 2012 10:49pm Jun 4, 2012 10:49pm
Quoting feri z kosic
just question. Is this PA taught by James16 fully adaptabille for stock trading on Daily chart? Or anybody of you do that? Thank u and be well.
Hi feri z,

Yes . .James16 is fully adaptable to Stocks and Futures. . .some say even more so than Forex .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,638
  • Jun 4, 2012 10:54pm Jun 4, 2012 10:54pm
Quoting jarroo
Bam!! . .how's that for real time . .

Chanya . .we can see that Price is breaking through our targets we now place our S/L under our targets . . .We can take use full or partial postions.

You got to love that small draw down . .at the 1.0086.

The 1.0100 was also a valid entry but at a premium Price.

Initiall S/L could have been placed 25-30 pips below the 1.0086 entry. . .same S/L placement for the 1.0100 entry.

Nice one Jim!

I was watching this in real time.

Could this be one of those reversibles?

That H1 TF BUEOB, of the top of the consolidation area, was awesome.
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  • #112,639
  • Jun 4, 2012 10:57pm Jun 4, 2012 10:57pm
Quoting Pinbar
Thanks Jim

Yes, this area on the weekly looks strong and we can see a RH&S pattern forming. Would be surprised to see it break long.
Not that surprising Pinbar . .your Weekly chart shows mutlple Weekly Closes Above that level. . .Yes indeed, it has a nice history . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,640
  • Jun 4, 2012 10:59pm Jun 4, 2012 10:59pm
Could this also be a 4 hr touch trade?

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