james16 Chart Thread | Page 5720 | 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

  • #114,381
  • Jul 17, 2012 1:26pm Jul 17, 2012 1:26pm
Quoting SlapShot
Hey guys how many and which pairs do you monitor at once? (daily)
Hey SS

I watch around 75+ on daily/weekly timeframe for FX. Then more stocks on weekly(russell 3000)

Best
Mike
  • #114,382
  • Jul 17, 2012 1:26pm Jul 17, 2012 1:26pm
Quoting Darkst
Hi Everyone.
I am here first time and I found here a lot of knowledge.
But I have question about daily time frames. When I entery in trade should I wait for close daily candle or entry earlier, for example on H4 ?

Thanks for reply
Hey Darkst

Welcome!

Always wait till the bar closes. That is part of the confirmation

If you have more questions let us know

Mike
  • #114,383
  • Jul 17, 2012 1:49pm Jul 17, 2012 1:49pm
Quoting mbqb11
Hey SS

I watch around 75+ on daily/weekly timeframe for FX. Then more stocks on weekly(russell 3000)

Best
Mike
and how many good PA u find, and trade in one month, if it's not a secret??

chart:

http://i47.tinypic.com/28gryc9.jpg

do You like setup Like this??
  • #114,384
  • Jul 17, 2012 2:15pm Jul 17, 2012 2:15pm
Quoting 0421
and how many good PA u find, and trade in one month, if it's not a secret??

chart:

http://i47.tinypic.com/28gryc9.jpg

do You like setup Like this??
Varies 04. Some months i have 5 or 6 trades some months 20 trades. It's never about searching for quantity of trades for me but quality. I watch 1hr all the way to weekly. But if I end a month with 1 trade or 50 as long as I followed and was picky that is most important to me. I have good months with 20 trades, and bad months with 20 trades. Just as I have good months with a few trades and bad months with a few trades. Focus on being picky.

Yes that is an IB, but not enough for me to trade. Inside bars are tricky and I rarely play them unless off super strong support and resistance PPZ areas.

I always recommend learning the other bars before inside bars

Best
Mike
  • #114,385
  • Jul 17, 2012 3:48pm Jul 17, 2012 3:48pm
Quoting mbqb11
Hey SS

I watch around 75+ on daily/weekly timeframe for FX. Then more stocks on weekly(russell 3000)

Best
Mike
Wow not bad, can you give a short comment on how you proceed? Do you scan them all for PA signals first and look for confirmation by sr, fibo etc. in a second step?
  • #114,386
  • Jul 17, 2012 3:58pm Jul 17, 2012 3:58pm
Quoting SlapShot
Wow not bad, can you give a short comment on how you proceed? Do you scan them all for PA signals first and look for confirmation by sr, fibo etc. in a second step?
Hey SS

Since I have been doing this awhile it doesn't take me long to see things. Not just a bar, but all the other concepts we use.

I open my market watch window and simply left click and drag them over one at a time. Generally it takes me very very little time to go through all my pairs. Sometimes I am looking for bars that jump out, sometimes patterns, confluences etc. Again when starting out it's going to take a lot longer but it becomes a lot easier over time. I also keep pairs on watch lists when something catches my eye and have specific areas I know to watch. Sometimes that watch list is just minimized charts other times(often) just in my head

Hope that helps
Mike
  • #114,387
  • Jul 17, 2012 7:27pm Jul 17, 2012 7:27pm
Hello Mike and Everyone

I was wondering Regarding EURUSD as we see Double Long Tale Bars after Bullish Outside with kind of long Tale , doesn't this means we have strong Buyers Here and we can take advantage of this when price penetrate the previous Low 1.2287 ?

I just like to Think Loud with You, how can you see this ?
Attached Image (click to enlarge)
Click to Enlarge Name: 7-18-2012 2-25-34 AM.png Size: 33 KB
d df d dfdfffffffffffffffffff fffffffffffffffffffffffffffffffffffffffffffff
  • #114,388
  • Jul 17, 2012 10:55pm Jul 17, 2012 10:55pm
Quoting Rona
Hello Mike and Everyone

I was wondering Regarding EURUSD as we see Double Long Tale Bars after Bullish Outside with kind of long Tale , doesn't this means we have strong Buyers Here and we can take advantage of this when price penetrate the previous Low 1.2287 ?

I just like to Think Loud with You, how can you see this ?
Hello Rona,
if you observe the whole chart, those are fairly average-sized candles, but it could mean we are seeing signs of downside exhaustion.
price might move up from here or range further. we will see soon enough

in my view 1.2300 is a crucial area. price must stay above and away from it so bulls can get a fighting chance for survival/recovery.
  • #114,389
  • Jul 18, 2012 4:06am Jul 18, 2012 4:06am
Quoting Rust
Hey Bullz ,
did you noticed that both your cad trades are pretty much the same setup ?

Recently i am researching James's videos and what he stresses there every time is that due to small accounts, traders tend to expect too much from their setups. I say that because your final targets are logical, but far from your pretty possible areas that could turn the trade against you. Just a hint
Thanks for your reply Rusty!
My targets looking ambitious on the first sight, but i follow a strictly MM plan: my R:R ratio is 1:2, so first i place my SL and based on it i defined my final target. In this case my SL is 100 Pips away so my final target is 200 pips.
But i tend to get some profit on FTA, set my SL on BE if the trade goes in my direction and let the rest run...

  • #114,390
  • Jul 18, 2012 4:40am Jul 18, 2012 4:40am
CAD/JPY getting squeezed.

Will see which way it breaks then switch to 4hr chart to observe PA.
Attached Image
  • #114,391
  • Jul 18, 2012 5:43am Jul 18, 2012 5:43am
Learned this one from Mike. It's my favorite scenario for making money. Ultra easy, ultra reliable, ultra profitable.

Just an example :

Attached Image (click to enlarge)
Click to Enlarge Name: 12.png Size: 71 KB
  • #114,392
  • Jul 18, 2012 6:42am Jul 18, 2012 6:42am
Who's watching audnzd? Approaching a nice resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: audnzd18jul2012.gif Size: 37 KB
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #114,393
  • Jul 18, 2012 6:43am Jul 18, 2012 6:43am
Quoting mbqb11
Hey SS

Since I have been doing this awhile it doesn't take me long to see things. Not just a bar, but all the other concepts we use.

I open my market watch window and simply left click and drag them over one at a time. Generally it takes me very very little time to go through all my pairs. Sometimes I am looking for bars that jump out, sometimes patterns, confluences etc. Again when starting out it's going to take a lot longer but it becomes a lot easier over time. I also keep pairs on watch lists when something catches my eye and have specific...
All of your comments help alot, thank you for your efforts.

@Rust: Do you still enter a few pips under the low of the PB?
  • #114,394
  • Jul 18, 2012 6:59am Jul 18, 2012 6:59am
Quoting Rust
Learned this one from Mike. It's my favorite scenario for making money. Ultra easy, ultra reliable, ultra profitable.

Just an example :

Attachment
Nice example Rust, cheers.

Incredibly after finding a level of consistency through the J16 thread I veered away somewhat over the last 12 months, and, for the sake of my sanity, I have returned after attempting all sorts of other methods, time frames and indicators. I suppose it's something that we all have to go through at some point.

Anyway I just wanted to say that I'm back to the only method that I've found that makes sense, and hopefully James, Mike and the other seniors are still around to offer their superb advice!
  • #114,395
  • Jul 18, 2012 7:41am Jul 18, 2012 7:41am
Quoting rolo1128
Who's watching audnzd? Approaching a nice resistance.

Attachment


I'm watching. There has also been a breakout of the downward trend though!
Attached Image
  • #114,396
  • Jul 18, 2012 7:45am Jul 18, 2012 7:45am
Quoting Rust
Learned this one from Mike. It's my favorite scenario for making money. Ultra easy, ultra reliable, ultra profitable.

Just an example :

Attachment
Nice Rust

Breakouts are fun


Mike
  • #114,397
  • Jul 18, 2012 7:46am Jul 18, 2012 7:46am
Quoting stochman
Nice example Rust, cheers.

Incredibly after finding a level of consistency through the J16 thread I veered away somewhat over the last 12 months, and, for the sake of my sanity, I have returned after attempting all sorts of other methods, time frames and indicators. I suppose it's something that we all have to go through at some point.

Anyway I just wanted to say that I'm back to the only method that I've found that makes sense, and hopefully James, Mike and the other seniors are still around to offer their superb advice!
welcome back Stoch, we're still here and kicking

yep this happens, you'll be back in the swing of it quick

Best
Mike
  • #114,398
  • Jul 18, 2012 10:30am Jul 18, 2012 10:30am
GBP/NZD

nice rejection of an beautiful S/R area ...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.gif Size: 22 KB
  • #114,399
  • Jul 18, 2012 10:33am Jul 18, 2012 10:33am
Quoting rolo1128
Who's watching audnzd? Approaching a nice resistance.

Attachment
indeed a very nice one bro, weekly resistance and forming a daily pin

Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 27 KB
  • #114,400
  • Jul 18, 2012 11:37am Jul 18, 2012 11:37am
Quoting SlapShot
@Rust: Do you still enter a few pips under the low of the PB?
Yes. Generally around 10% of the trigger bar . For example if the pin is 100pips i put a 10 pip buffer. I don't think this carries much importance though

Quoting stochman
Nice example Rust, cheers.

Incredibly after finding a level of consistency through the J16 thread I veered away somewhat over the last 12 months, and, for the sake of my sanity, I have returned after attempting all sorts of other methods, time frames and indicators. I suppose it's something that we all have to go through at some point.

Anyway I just wanted to say that I'm back to the only method that I've found that makes sense, and hopefully James, Mike and the other seniors are still around to offer their superb advice!
Welcome back buddy ! Your words sound just like i wrote 'em Been there, done that James16 is the best.
76 traders viewing now