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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

  • #112,901
  • Jun 10, 2012 10:41am Jun 10, 2012 10:41am
I only see red G .ill go further its not just bearish
Its very bearish ,
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,902
  • Jun 10, 2012 10:42am Jun 10, 2012 10:42am
Quoting Chanya
I am sorry But I did not understand what you tried to explain to me about False breakouts .... Can you please look at the example below and tell what you would have done when faced by these situations , because these are the situations where no targets are hit ??? If its ok ...
Sure chanya . .Target are defined the same as James16 defines them . .Daily PA, Daily targets are preious bar Highs and Lows. .same with Daily levels , Daily targets .


GbpChf . .this Daily setup caught me on the GboChf . .then I realised that Price was reacting to the Weekly levels and I adjusted my long postion.

AudCad . .this one should be fun to watch . .let's see where Price closes on the Daily this week. Price is caught inbetween some levels.
There was no false breakout on this pair ..PBT&CA some strong Daily and Weekly LCS levels and Price reacted.

EurJpy . .I actually trade this setup . .caught the 1st target .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,903
  • Edited Jun 11, 2012 7:32am Jun 10, 2012 2:16pm | Edited Jun 11, 2012 7:32am
Quoting jarroo
I'll talk to James16 and Mike about posting some of my videos/webinar excerpts . .
I will be waiting eagerly ... Just one more question , Where to put the initial stop loss ??? Generally we would have put it behind the swing but that does not apply here !?!?! So , what is the appropriate method ??? Refer to the chart below ...... Thanks 4 everything ....
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Human
  • #112,904
  • Jun 10, 2012 3:12pm Jun 10, 2012 3:12pm
Hi All,

Practice, practice, practice. Patience, patience, patience.

3 things that are vital to finding success in this business are practice, patience and common sense.

Look for the highly confluenced areas on your charts and wait until price reaches these areas then wait for PA.

I have attached the USDCAD chart as a prime example. The blue boxes are PPZ's. Look at the confluence at the lower blue box.

PPZ @ 0.9950 - 1.050
BRN 1.000 which is also parity
365ema
150ema
61.8 Fib Retracement

I will wait until price reaches this lower blue box then wait for PA confirmation. It may take weeks but I am prepared to wait.

Because these areas have so much confluence, if we get PA, the odds are stacked in our favour and we also get the chance to place small stops.

Trade Daily TF only until you get good at this. Sit on your hands. Itchy trigger fingers and the need/desire to trade are what get you into trouble.

No one needs to lose any money while you are learning. Open a Demo account and practice.

Just my own personal view.

Bud_Fox
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  • #112,905
  • Jun 10, 2012 3:18pm Jun 10, 2012 3:18pm
Quoting bud_fox
Hi All,

Practice, practice, practice. Patience, patience, patience.

3 things that are vital to finding success in this business are practice, patience and common sense.

Look for the highly confluenced areas on your charts and wait until price reaches these areas then wait for PA.

I have attached the USDCAD chart as a prime example. The blue boxes are PPZ's. Look at the confluence at the lower blue box.

PPZ @ 0.9950 - 1.050
BRN 1.000 which is also parity
365ema
150ema
61.8 Fib Retracement

I will wait until price reaches this...
A++++ post bud, top to bottom

  • #112,906
  • Jun 10, 2012 3:22pm Jun 10, 2012 3:22pm
Another example.

AUDUSD

Look at the upper blue box.

PPZ @ 1.0150 - 1.0250
RN 1.0200
365ema
150ema
61.8 Fib Retracement
Descending Trend Line

Talk about confluence.

It may take weeks for price to reach this area or it may only take a few days but I am prepared to wait.

In Jarro's own words "A good set up is a high momentum set up"

Bud_Fox
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  • #112,907
  • Jun 10, 2012 3:27pm Jun 10, 2012 3:27pm
Quoting Pinbar
I think it is 1: a bullish bar not at a SL, 2: going into parity and the ppz & 3, there is an opposing bearish PB that came off parity.
It may work out, they sometimes do but, I would not be willing to take the risk on it.
I would note another thing here. Thursdays PB came off the ascending weekly long term TL and parity which is a clear indication of its strength of rejection of that area. However oscillators show some hidden divergence , which might point to a trend reversal. Even though I have been eying this as well to catch a runner, as of now I would be totally neutral on this till it produces a stronger signal.

Best,
-H
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  • #112,908
  • Jun 10, 2012 4:10pm Jun 10, 2012 4:10pm
More huge gaps, 120 pips on EURUSD
  • #112,909
  • Jun 10, 2012 4:11pm Jun 10, 2012 4:11pm
Noooooooo.... My UC short short of the ascending TL retest and QM pattern hit target 100 pip above the gap cause I was a min too late to remove my TP on friday . Cant complain as long as there green pips rolling though.....

Horrendous gaps this weekend.

-H
  • #112,910
  • Jun 10, 2012 4:12pm Jun 10, 2012 4:12pm
Quoting willf
More huge gaps, 120 pips on EURUSD
no surprise we bounced here though

http://www.forexfactory.com/showthre...48#post5739348

gap should fill, i think we'll continue higher too
  • #112,911
  • Jun 10, 2012 4:15pm Jun 10, 2012 4:15pm
Quoting willf
More huge gaps, 120 pips on EURUSD

Quoting goldfish3
Noooooooo.... My UC short short of the ascending TL retest and QM pattern hit target 100 pip above the gap cause I was a min too late to remove my TP on friday . Cant complain as long as there green pips rolling though.....

Horrendous gaps this weekend.

-H
its bcos of the news of Spanish bailout.
  • #112,912
  • Jun 10, 2012 6:53pm Jun 10, 2012 6:53pm
1) 2 pinbars - never seen it before
2) a huge gap!!
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  • #112,913
  • Jun 10, 2012 6:59pm Jun 10, 2012 6:59pm
Quoting balloontree
1) 2 pinbars - never seen it before
2) a huge gap!!
Not uncommon...barbed wire
  • #112,914
  • Jun 10, 2012 8:15pm Jun 10, 2012 8:15pm
Quoting bud_fox
Hi All,

Practice, practice, practice. Patience, patience, patience.

3 things that are vital to finding success in this business are practice, patience and common sense.

Look for the highly confluenced areas on your charts and wait until price reaches these areas then wait for PA.

I have attached the USDCAD chart as a prime example. The blue boxes are PPZ's. Look at the confluence at the lower blue box.

PPZ @ 0.9950 - 1.050
BRN 1.000 which is also parity
365ema
150ema
61.8 Fib Retracement

I will wait until price reaches this lower blue box...
Hey Bud,
Why not sell if it shows good price action at the top resistance, like it is now..? There is a good bearish pinbar on the us cad..

http://img204.imageshack.us/img204/9804/uscaddaily.jpg

Regards,
Timon
  • #112,915
  • Jun 10, 2012 8:39pm Jun 10, 2012 8:39pm
Quoting tinny79
Hey Bud,
Why not sell if it shows good price action at the top resistance, like it is now..? There is a good bearish pinbar on the us cad..

http://img204.imageshack.us/img204/9804/uscaddaily.jpg

Regards,
Timon
in my opinion 1.0200 need to be broken First
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  • #112,916
  • Jun 10, 2012 9:01pm Jun 10, 2012 9:01pm
Quoting bud_fox
Another example.

AUDUSD

Look at the upper blue box.

PPZ @ 1.0150 - 1.0250
RN 1.0200
365ema
150ema
61.8 Fib Retracement
Descending Trend Line

Talk about confluence.

It may take weeks for price to reach this area or it may only take a few days but I am prepared to wait.

In Jarro's own words "A good set up is a high momentum set up"

Bud_Fox





I don't get it;

based on this:
http://www.james16group.us/Guests/vi...iningvideo.wmv

why don't we do the following? RR is probably 0.5 though, but it's with more certainty?
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  • #112,917
  • Jun 10, 2012 9:02pm Jun 10, 2012 9:02pm
Quoting Rona
in my opinion 1.0200 need to be broken First
Hey Rona,
I see what you mean as it is FTA.. However i entered just after the pin ( so in profit ) so will wait and see how it goes at that weekly support line.. Most likely it will bounce but will adjust stop loss in profit zone just in case this happens..
  • #112,918
  • Jun 10, 2012 9:08pm Jun 10, 2012 9:08pm
remember folks if you are new to follow closely what James teaches. We want pinbars at good swing points when starting out.

Pinbar from thursday was at a very minor swing. If we use the concept of "space" we know EXACTLY where price is going. This is not even using confluence just the bar. You really want to use confluence and take things a step further. What this should show new folks is how simplistic we can make things though and how important it is.

Fridays bar is a pinbar, but again we want a bearish pin at a swing high, this is not even at a swing point but sideways. price gapped to where it is likely to go.

Search for these pinbars, even ones like thursdays at a minor swing point and begin to identify where price is going to go. You will be amazed in a short time. Then if you take that and be VERY picky, and use confluence and build a story you will be blown away by how accurate things can be


Best
Mike
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  • #112,919
  • Jun 10, 2012 9:20pm Jun 10, 2012 9:20pm
Quoting mbqb11
remember folks if you are new to follow closely what James teaches. We want pinbars at good swing points when starting out.

is it okay to analysis and trade all the pairs that is available? there's about 23 pairs in FXCM.

just wondering if there's a correlation between all the pairs; if it's like if u get one wrong, u get all the rest wrong - they move somewhat together
  • #112,920
  • Jun 10, 2012 9:27pm Jun 10, 2012 9:27pm
the RR looks horribly tiny...........
i'm still unsure...........


ETA:
reason why I choose the TP/Entry/SL
TP = just under 1.0350 (guessing it will run out of steam there)
entry = need it to break the 1.0300......
SL = it probably wouldn't go further than 1.0200


but J16 said something like you wouldn't want to take full bar loss; so where should I place my SL? 1.0240?




a confused newbie
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