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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

  • #114,041
  • Jul 8, 2012 9:44am Jul 8, 2012 9:44am
Quoting rafstraszek
Watch "Traffic vs Space" from here http://www.james16group.us/Guests/guestmaterial.html It should make some thing clear.

Thanks! I got it now!
  • #114,042
  • Jul 8, 2012 9:46am Jul 8, 2012 9:46am
Quoting mbqb11
Indecision candles CAN be reversals, but it's much easier to wait for a strong pinbar, beob etc

ok; got it!

I think what you guys are saying is that I need to finish off my decision to enter a trade or not with PA
- giving more points to PA than the rest

I need to switch from this sequence (TL, fibo, S/R, BRN, and lastly PA) to PA first
  • #114,043
  • Jul 8, 2012 9:55am Jul 8, 2012 9:55am
Quoting balloontree
ok; got it!

I think I need to determine my entries/exits with PA
will help you GREATLY. Combining what you already know and are comfortable with and adding some tools that James teaches in here is a great idea.

Continue to ask questions if needed B

Mike
  • #114,044
  • Jul 8, 2012 9:57am Jul 8, 2012 9:57am
Quoting balloontree
Thanks! I got it now!
Great! Glad to help
  • #114,045
  • Edited 10:20am Jul 8, 2012 10:02am | Edited 10:20am
Quoting mbqb11
will help you GREATLY. Combining what you already know and are comfortable with and adding some tools that James teaches in here is a great idea.

thanks;




just checking one more thing; for entries (any kind), I would place a buy/sell order 10 pips + spread away from the candle high/low, stop loss at the other side;

when it reached the FTA, I would take 50% off and move to BE; and tighten the stop loss every day to the last swing low/high?
  • #114,046
  • Jul 8, 2012 10:04am Jul 8, 2012 10:04am
I was thinking if I should sign up for J16 private forum; do you think it will help? Or should I just demo trade religiously first? and if I meet any more trouble/problems, and then join J16?
  • #114,047
  • Jul 8, 2012 10:48am Jul 8, 2012 10:48am
Quoting balloontree
I was thinking if I should sign up for J16 private forum; do you think it will help? Or should I just demo trade religiously first? and if I meet any more trouble/problems, and then join J16?
Maybe, but I think you already know too much...you need time and experience to figure out ways how to use that knowledge...Stay on demo and keep asking.

There are many entry and exit strategies. I take trade right after close - if I like closure, if not I watch lower timeframes. I don't use pending orders. On FTA I set sl to be - and then i'm watching/babysitting it. Draw some important zones, trendlines etc. and watch how price react to them. This is very liquid to me. Of course I also use tp - but it's never a final one.
  • #114,048
  • Jul 8, 2012 11:48am Jul 8, 2012 11:48am
Quoting balloontree
yupe! thanks for pointing it out!

In my haste to look for PA, fibo, TL, EMA, S/R, I forgot to look at RN; I know BRN are important.......

that would probably explained that there's buyers taking that 78.5 RN as floor, hence the BEOB couldn't be any stronger;


hmmmmmm, but would you have taken the trade? it's so tempting
I wouldn't have based on the weak look on the BEOB.

g.
I believe . . .
  • #114,049
  • Jul 8, 2012 1:08pm Jul 8, 2012 1:08pm
Mike
Hello


What is your opinion on PINBAR

Thanks for the feedback
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  • #114,050
  • Jul 8, 2012 2:17pm Jul 8, 2012 2:17pm
Quoting Yehuda Sh
Mike
Hello


What is your opinion on PINBAR

Thanks for the feedback
Which bar? That last one is a bearish outside bar and looks more like a hanging man. Certainly not something you want to buy.
  • #114,051
  • Jul 8, 2012 2:35pm Jul 8, 2012 2:35pm
Quoting Yehuda Sh
Mike
Hello


What is your opinion on PINBAR

Thanks for the feedback
Hey Yehuda

Yep as C-12 sad that's not a pinbar. Remember we want pinbars at swing lows so the low of the bar is protruding away from price.

Let me know if that makes sense
Mike
  • #114,052
  • Jul 8, 2012 2:59pm Jul 8, 2012 2:59pm
it seems cable will fall deeper. I sold it last week and will look for entries higher ... better price to sold this week too.
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all is eternal - this is good news for people who loves bad news
  • #114,053
  • Jul 8, 2012 3:36pm Jul 8, 2012 3:36pm
Continuation of UPtrend ?
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all is eternal - this is good news for people who loves bad news
  • #114,054
  • Jul 9, 2012 1:16am Jul 9, 2012 1:16am
Quoting meshka
Continuation of UPtrend ?
Or back in the box
If not up, then down, otherwise sideways :-)
  • #114,055
  • Jul 9, 2012 1:42am Jul 9, 2012 1:42am
Quoting meshka
Continuation of UPtrend ?
Yes waiting for the retrace to 1.51 to 1.504 zone. If there is nice PA, then might be more interested.

It has not actually broken the old support from year 2011, but now it has good chance of going higher.... or then the S will hold.
  • #114,056
  • Edited 7:30am Jul 9, 2012 3:05am | Edited 7:30am
A long vacation it was
Time to see if i can still do this sh*t

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Wish you successful week guys !

edit: naaah stopped
  • #114,057
  • Jul 9, 2012 4:44am Jul 9, 2012 4:44am
Hi guys,

So basically we are only interesting in looking at PA at swings (high/low); okay, I registered this.

How about currency pairs? How many do you watch? How about their correlation?

Do you have a table like, if I enter EURUSD, then I will not enter GBPUSD?

I've checked the correlation table; and it's like if we are holding them for more than one day, the correlation between them are not high.
  • #114,058
  • Jul 9, 2012 4:46am Jul 9, 2012 4:46am
Also does the broker time matter? I was thinking of opening a FXCM or Oanda account; one is in GMT0 and another is in GMT-5.

Or should I stick strictly to GMT0?
  • #114,059
  • Edited 4:59am Jul 9, 2012 4:48am | Edited 4:59am
I did a quick scan today; there's no PA at least not in swing high/low today; probably need to wait for a few days.

Meanwhile does J16 or senior members have a strategy/method to trade when the market is in a consolidation/sideways?

Also, can I drop to a lower time frame like 15 mins or 5 mins, and look for PA on swing high/low? like doing more maths homework in order to improve my maths grades?

I think I read somewhere that J16 is doing intra day trading? Just that he's mentioning less and less because newbies don't stand a chance?
  • #114,060
  • Jul 9, 2012 5:54am Jul 9, 2012 5:54am
I'm thinking...pullback?
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