james16 Chart Thread | Page 5648 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #112,941
  • Jun 11, 2012 3:09am Jun 11, 2012 3:09am
Quoting tinkerbelle
Sorry for me, im annoying, but still didnt get it. I see noting on bearish on monthly but i agree with bearish couse saw 2nd similar video in last 14 days http://finance.yahoo.com/blogs/break...171851817.html

I wouldn't be in a rush to sell it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gm.gif Size: 112 KB
Click to Enlarge Name: gw.gif Size: 110 KB
Click to Enlarge Name: gd.gif Size: 115 KB
  • #112,942
  • Jun 11, 2012 3:20am Jun 11, 2012 3:20am
In all honesty Pin most traders lose
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,943
  • Jun 11, 2012 3:27am Jun 11, 2012 3:27am
TB I have shown you how I read it ,also then monthly had long wick to downside ,first w1 pin as well which I said false ,

That pin was covered by price ,so I was correct ,even tho I let price come right back up ,often I am not around only I have large exposure at mo

Quoting Bones
Yea course the monthly
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,944
  • Jun 11, 2012 3:43am Jun 11, 2012 3:43am
Quoting Bones
TB I have shown you how I read it
Thank you Bones very appreciate it! it may looks like im trying convice you but in fact im trying understant you, so againt thank you and thank others for posting and shareing skills .
  • #112,945
  • Jun 11, 2012 4:29am Jun 11, 2012 4:29am
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
Hi Tinny79,

The basis of the James16 teachings are based on a good understanding of Support & Resistance combined with Price Action e.g. Pinbars, BE/BUOB’s etc… But if you read all of James16 posts and study all of his charts you will see that James isn’t teaching us to trade every Price Action bar at random insignificant or minor areas on the chart.

He teaches the importance of confluence to give our potential trade more weight and a better chance of success.

Confluence is a number of factors coming together at the same time or in our case at a specific area on our charts e.g. PPZ’s, Ema’s, Fib Retracements, BRN’s, Divergence, Trend Lines etc. The USDCAD and AUDUSD charts that I posted are prime examples. The more confluence at a specific area the greater chance we have of our trade succeeding. Confluence creates great support or resistance areas and these areas also give us the opportunity to place small stops as we know exactly where the support or resistance is. This is what James is talking about when he talks about small stops and not being prepared to take a full bar loss.

These areas also allow us to trade smart and because our stops are so small we are only ever risking 2 or 3% of our account. Check out post #111429 for a recent trade, which I placed on the EUR/JPY. This is a Daily chart and my stop was only 35 pips. My final pip profit for this particular trade was over 300 pips.

This can be achieved by everyone but to trade like this requires dedication, practice and much patience and your chances of being successful in this business will be significantly increased.

Identify these confluence areas on your charts and wait until price gets there, then wait for Price Action to gives us a heads up before you pull the trigger. You may identify an area on your chart with a lot of confluence but it may take price weeks to reach this area so patience is vital but the wait will be worth it as when we get our PA confirmation, BOOM.

My advice to anyone who is reading this and who is serious about wanting to become a successful trader and potentially change your life, is to read all of James16 posts and study all of his charts over and over. Then open a demo account and spend some chart time looking for these high confluence areas and watch what price does.

Unfortunately there is no easy route or fast track to success in this business. Practice, patience & common sense.

Bud_Fox
  • #112,946
  • Jun 11, 2012 4:30am Jun 11, 2012 4:30am
Good morning..

I'm watching Price action at this current level on CAD/JPY. Looking for a short conformation. Fibs and S/R seem to be in play!
Attached Image
  • #112,947
  • Jun 11, 2012 4:42am Jun 11, 2012 4:42am


Quoting Brixton
Good morning..

I'm watching Price action at this current level on CAD/JPY. Looking for a short conformation. Fibs and S/R seem to be in play!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,948
  • Edited 5:15am Jun 11, 2012 5:01am | Edited 5:15am
Let's see if this DBHLC off of the Monthly Level, can hit its second FTA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.gif Size: 115 KB
Click to Enlarge Name: 3.gif Size: 114 KB
Click to Enlarge Name: h4.gif Size: 112 KB
  • #112,949
  • Jun 11, 2012 6:48am Jun 11, 2012 6:48am
Quoting mbqb11
example trade I am in with how I manage stops(in this situation)

It's all about the story for me, start to finish. Taking into account all the different concepts and blending them together.

Hope this helps a bit

Mike
Hehe, I was in this one too. I cut it out for a small loss, because of the lack of initial momentum (i reduced stop very quickly below the RN). Let's hope to give some $ for you at least .
  • #112,950
  • Jun 11, 2012 7:16am Jun 11, 2012 7:16am
Quoting Pinbar
Let's see if this DBHLC off of the Monthly Level, can hit its second FTA.

To the pip.

Next stop the Daily HCR.
Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 112 KB
  • #112,951
  • Jun 11, 2012 8:10am Jun 11, 2012 8:10am
Quoting bud_fox
Hi Tinny79,

The basis of the James16 teachings are based on a good understanding of Support & Resistance combined with Price Action e.g. Pinbars, BE/BUOB’s etc… But if you read all of James16 posts and study all of his charts you will see that James isn’t teaching us to trade every Price Action bar at random insignificant or minor areas on the chart.

He teaches the importance of confluence to give our potential trade more weight and a better chance of success.

Confluence is a number of factors coming together at the same time or in our...
keep these posts coming Bud! They are fantastic man!

Mike
  • #112,952
  • Jun 11, 2012 8:11am Jun 11, 2012 8:11am
Quoting Rust
Hehe, I was in this one too. I cut it out for a small loss, because of the lack of initial momentum (i reduced stop very quickly below the RN). Let's hope to give some $ for you at least .
closed the gap and retesting the TL, watching closely here. Wanting to see the other pairs gaps close too, can give us a better idea

Mike
  • #112,953
  • Jun 11, 2012 9:00am Jun 11, 2012 9:00am
close gap and more imo
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,954
  • Jun 11, 2012 9:15am Jun 11, 2012 9:15am
Quoting mbqb11
keep these posts coming Bud! They are fantastic man!

Mike
Mike,

That is certainly high praise coming from you.

I just hope my posts can help and open some eyes to what is really needed to have a chance of success in this business.

Still learning myself every day. It's like a drug, I need to get my daily fix lol...

Many thanks Mike

Conrad
bud_fox
  • #112,955
  • Jun 11, 2012 9:41am Jun 11, 2012 9:41am
Quoting Chanya
I thought this term already existed !!! Jarrooer means follower of Jarroo ... I am sure I heard It somewhere before ...
Hello all,

I am still on my task of reading the beginning of thread, so I haven't been very interactive, but i've following the latest postings not deeply.
I have one question though, sidetracked by this comments.
I've seen Pinbar and now Chanya claiming following jarroo's style - being Jarrooers
Well, what does it mean ? Sorry if this is an already asked question - point me out anything if you please.

Diogo
  • #112,956
  • Jun 11, 2012 9:49am Jun 11, 2012 9:49am
Interesting monthly bar on DJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 11-06-2012 16-45-54 EU.jpg Size: 67 KB
Click to Enlarge Name: 11-06-2012 16-43-31 DJ.jpg Size: 55 KB
  • #112,957
  • Jun 11, 2012 9:54am Jun 11, 2012 9:54am
Quoting bud_fox
I just hope my posts can help and open some eyes to what is really needed to have a chance of success in this business.
Hi Buddy,

They do!!

I've spent the whole day drawing RN, TL, PPZ, Fibs... and boxes of possible future confluence...
instead of spending my whole day the way I did the last few weeks, looking - and missing - price action signals.

thanks for bringing me back on the right tracks: looking for the good location, not for the good price action
Slow & steady
  • #112,958
  • Jun 11, 2012 10:40am Jun 11, 2012 10:40am
Quoting Bones
gold hasn't been fantastic for me to be honest ,I have taken profit and lost in the moves
If it breaks or goes to the first line thats good now

http://www.forexfactory.com/attachme...1&d=1339400383

Dear Bones..

I am no longer bearish and waiting to be bullish...

a. We have a big vol near 2nd week of Sept 2011 ..so 153x lvl will be very hard to break..

b. We are having triple bottom..which is very bullish..and possible big break out could follow..

c. The only thing that holding me back is W1 candle..I am waiting for a weekly bullish candle to enter..

To summarize, I am bullish as long as 153x lvl holds..

Sonic
Attached Image (click to enlarge)
Click to Enlarge Name: shi.gif Size: 39 KB
  • #112,959
  • Jun 11, 2012 10:59am Jun 11, 2012 10:59am
Hi - Just wondering what peoples experience is with Stop Losses when the market gaps like it did today.

More specifically, what happens (or is suppose to happen) if price opens beyond the SL? Should it trigger automatically?

For e.g if I'm short and I have a SL set at 1.2000 and market gaps at open to 1.2050.

Appreciate anyone experience here.

OP
  • #112,960
  • Jun 11, 2012 11:13am Jun 11, 2012 11:13am
Quoting OffPiste
Hi - Just wondering what peoples experience is with Stop Losses when the market gaps like it did today.

More specifically, what happens (or is suppose to happen) if price opens beyond the SL? Should it trigger automatically?

For e.g if I'm short and I have a SL set at 1.2000 and market gaps at open to 1.2050.

Appreciate anyone experience here.

OP
Hey OP

It is broker dependent as some brokers have off market trading where you will get stopped out at your stop loss(maybe slippage again depending). Most will close you out where the market gaps. Because your stop loss order is just a market order. A market order basically means get me in or out at ANY price. So you can always have the chance to incur more of a loss than your stop loss is placed at. Back in the day a lot of brokers used to say things like they will guarantee your stops and stuff but that faded quick

Best
Mike
41 traders viewing now, 1 is registered:
Zojahamad