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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

  • #114,081
  • Jul 9, 2012 8:35am Jul 9, 2012 8:35am
Quoting balloontree
yeah, i'm feeling it now!
thanks
you are NOT alone. In fact if we have 100 new people view this thread today I can almost guarantee 98 of them feel the same way. You have the ability to change that though. That's a powerful thing

Best
Mike
  • #114,082
  • Jul 9, 2012 8:37am Jul 9, 2012 8:37am
Quoting mbqb11
I know everyone wants to quit their day job, but let me tell you this is a tough enough business to learn, you need a mighty mighty large account if you want to do that(depending on where you live and tons of other factors).

I'm under the impression that $50k will do the trick; and when if one is successful in trading, could probably work for bank/finance sectors where they paid you to trade?

would that be a likelihood?
  • #114,083
  • Jul 9, 2012 8:42am Jul 9, 2012 8:42am
Quoting mbqb11
PA is PA. It works in ALL markets. It's about understanding the situation at hand though. BUilding confluence, knowing where price is likely to go, understanding how to manage the situation. Start with the basics.


understood both charts completely; I've watched a video in J16 guest room talking about this. If it's just PA + pennant or S/R lines, I understand

do you use fibo/ema/RN/BRN or others when analysing the sideways markets?
  • #114,084
  • Jul 9, 2012 8:45am Jul 9, 2012 8:45am
Quoting 0421
chart:

http://i45.tinypic.com/jl0aj6.jpg

thx for help.

ps. this last bar it's 2 pips above that previous


OMG! in my FXCM, it's not BUOB!! >_<

I'm going to get a FXPro!!
Attached Image
  • #114,085
  • Jul 9, 2012 8:52am Jul 9, 2012 8:52am
Quoting balloontree
OMG! in my FXCM, it's not BUOB!! >_<

I'm going to get a FXPro!!
it's hapen when Your broker use different time that GTM0.
  • #114,086
  • Jul 9, 2012 9:11am Jul 9, 2012 9:11am
Quoting balloontree
OMG! in my FXCM, it's not BUOB!! >_<

I'm going to get a FXPro!!

Why not try FXDD?

http://forexmagnates.com/nfa-hits-fx...-it-over-3-5m/

Just kidding
  • #114,087
  • Jul 9, 2012 9:57am Jul 9, 2012 9:57am
Hi j16 traders! It's been long time since i started to practice trading with the help of this thread and now im been live trading 6 months and i had to post my sincerest thank you to this community! I think im beginning to understand terms quality and patience and im on my way of slowly but surely growing account. What i think is crucial, Ive found my own habit of doing this business like it has always been part of my life. I think why its thanks to demo process james always emphasizes..

Btw this usdcad was nice! Two thirds taken, the rest tries to ride.
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  • #114,088
  • Jul 9, 2012 11:18am Jul 9, 2012 11:18am
On gbpusd - with close above 1.5166 we can get beautiful inside bar
Eurcad - maybe we'll get buob with strong 1.25 lvl
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  • #114,089
  • Jul 9, 2012 2:03pm Jul 9, 2012 2:03pm
Quoting nuclear62
Hi j16 traders! It's been long time since i started to practice trading with the help of this thread and now im been live trading 6 months and i had to post my sincerest thank you to this community! I think im beginning to understand terms quality and patience and im on my way of slowly but surely growing account. What i think is crucial, Ive found my own habit of doing this business like it has always been part of my life. I think why its thanks to demo process james always emphasizes..

Btw this usdcad was nice! Two thirds taken, the rest tries...
awesome dude! Dead on why James emphasizes the business and demo aspects of it

Keep it up
MIke
  • #114,090
  • Jul 9, 2012 4:40pm Jul 9, 2012 4:40pm
That reminds me,

With everything equal, would you enter a bullish/bearish inside bar or outside bar?

I couldn't work it work

An outside bar would indicate that the crowd has decided

an inside bar would indicate that the crowd is indecisive


so should I give more points to outside bar?


Confused forex newbie
  • #114,091
  • Jul 9, 2012 5:21pm Jul 9, 2012 5:21pm
Quoting balloontree
That reminds me,

With everything equal, would you enter a bullish/bearish inside bar or outside bar?

I couldn't work it work

An outside bar would indicate that the crowd has decided

an inside bar would indicate that the crowd is indecisive


so should I give more points to outside bar?


Confused forex newbie
Hey B

Well it will depend on the situation. Every situation is unique. In general I think it's easier to grasp and play pinbars/outside bars etc then it is to play an inside bar. I think for a new trader starting with some of the other bars ahead of inside bars is an easier thing to begin with

Best
Mike
  • #114,092
  • Jul 9, 2012 6:03pm Jul 9, 2012 6:03pm
GBPCAD 4H pin. PPZ + Fibo 38 + down trend + EMA150 touch (on 1H)
Get down baby

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P.S. Sorry my bad english
  • #114,093
  • Jul 9, 2012 6:26pm Jul 9, 2012 6:26pm
Quoting habahaba
GBPCAD 4H pin. PPZ + Fibo 38 + down trend + EMA150 touch (on 1H)
Get down baby

Attachment
Hey Haba

Be careful here. Technically this bar is not a pinbar as the close was not within the previous bar. That's important here because it can show the strength of our bars. In this case price is coming of some stronger bullish bars and price looks like it bounced more then it wants to sell. With the smaller bar and weaker close we can get a tip of that it might not be ready to come down yet

Let me know if that makes sense
Mike
  • #114,094
  • Jul 9, 2012 6:38pm Jul 9, 2012 6:38pm
Quoting mbqb11
Hey Haba

Be careful here. Technically this bar is not a pinbar as the close was not within the previous bar. That's important here because it can show the strength of our bars. In this case price is coming of some stronger bullish bars and price looks like it bounced more then it wants to sell. With the smaller bar and weaker close we can get a tip of that it might not be ready to come down yet

Let me know if that makes sense
Mike
Thanks Mike!
Your comments are always very helpful!
P.S. Sorry my bad english
  • #114,095
  • Jul 9, 2012 10:56pm Jul 9, 2012 10:56pm
Quoting ricosta
Ok, I understand now, thank you. However, these targets look awfully close to the entry and a decent s/l (on the other side of the LCS/HCR) will be multiple times the first target. Also I do see at the example that you are trading into areas with very little "space". Am I correct to say that this is more of a scalping method around LCS/HCR levels?
Yes it could be a bit of a scalp because as you so rightfully pointed out . . it was trading into a lot of traffic or very little space. That is why the targets are so important in our trade management.

Price reaches our target and we react. . .we take profit . .reduce our our risk . .move to break even . .etc.

Now if Price smaches through our targets and closes above (or below) them, we can have that potential longer term runner or capture more of the move.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #114,096
  • Jul 9, 2012 11:20pm Jul 9, 2012 11:20pm
Quoting Variance
Good to see you back Jim
I'm back again . .
Indicators show the past. Price Action "Indicates" the future.
  • #114,097
  • Jul 9, 2012 11:52pm Jul 9, 2012 11:52pm
Quoting Variance
Hi Jim,

I was referring to some of the variables below:
The speed or magnitude of which Price approaches a level is not a concern. It is the magnitude and strength of the Level that we are looking for in our levels. Price can go full speed right at a strong level and stop it in its tracks.

So we look for deep Swing Highs and Lows . .this could represent your "speed, magnitude and quality of the move away from a previous tested area".

Consolidation Areas, "Boxes" of Price. . .this could represent your "number of times the swing high has been tested before closing above"

Also, . .Higher frame levels show strength . .more time and data in them.

Other confluences that align with our levels . .Fibs, BRNs, RNs, long term moving averages, divergence. . etc.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #114,098
  • Jul 10, 2012 1:35am Jul 10, 2012 1:35am
Quoting Chanya
Pretty simple trade I took Last night ... Almost at BE now . Chart is all self explanatory ...

Just gotta clear above the yellow zone and we might have a decent runner ...

That's one crazy cross, Chanya . . I would look to the Weekly levels at the deep Swing Points/ Consolidation levels with such a crazy cross. Higher TF levels tends to smooth them out a bit . .
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Indicators show the past. Price Action "Indicates" the future.
  • #114,099
  • Jul 10, 2012 1:45am Jul 10, 2012 1:45am
Quoting aserbfx
simple stuff....
Very nice aserb . .
Indicators show the past. Price Action "Indicates" the future.
  • #114,100
  • Jul 10, 2012 2:27am Jul 10, 2012 2:27am
Quoting dan89
Hi Jarroo, I've been following/learning your method for a while, just wondering if you could have a look at these charts of mine and let me know your thoughts and opinions on them.

EU Weekly & Daily - Failed levels. Put down the Weekly (W) LCS levels. Traded of the Daily. Are these valid W levels ? Any reason why you think this trade failed ?

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EUR/NZD Weekly & Daily - Seems to be a winning trade. I'm more interested in whether you consider these W LCS levels valid. Are they at the...
Hey Jarroo, good to see you back again. If you get a spare min could you check out this post I made a few days ago (quoted). Im more interested in picking valid levels, or the best levels I should say . Any advice would be great.

Cheers
Dan
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