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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

  • #115,001
  • Aug 5, 2012 4:34pm Aug 5, 2012 4:34pm
If it were so easy as joining a private forum such as J16 we would all be filthy rich. Few if any make "quick money" in Forex or any other type of trading for that matter. I recently joined J16 and it has greatly enhanced my trading. Interestingly I have been trading for about 4 years and visited the guest site several times in the past. It has only been recently that my experience with failed indicator trading and such has now opened my mind to price action trading which J16 is all about. If you need quick money then do it the old fashioned way. Get a J-O-B and work Overtime. LOL. Good Luck!!!
  • #115,002
  • Aug 5, 2012 7:36pm Aug 5, 2012 7:36pm
Markets have felt very very dead in terms of daily PA recently.... like in the last month. weekly has been shallow too. A lot of sideways chop, and not much in the way of AH-HA! set ups....
Many choose unhappiness over uncertainty.
  • #115,003
  • Edited Aug 6, 2012 8:00am Aug 5, 2012 10:51pm | Edited Aug 6, 2012 8:00am
This 0.79500 area looks promising, combined with the previous monthly consolidation box from way back in 2008.

We shall see.
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  • #115,004
  • Aug 6, 2012 1:53am Aug 6, 2012 1:53am
Morning...

Selling CHF/JPY -

Looking for 79.00
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  • #115,005
  • Aug 6, 2012 3:01am Aug 6, 2012 3:01am
I'm also watching USD/JPY this week. See which way it breaks..
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  • #115,006
  • Aug 6, 2012 3:20am Aug 6, 2012 3:20am
Quoting Brixton
Morning...

Selling CHF/JPY -

Looking for 79.00

Hello Brixton...How r u?

Can u tell the reason why are u going to sell CHF/JPY?
  • #115,007
  • Aug 6, 2012 3:44am Aug 6, 2012 3:44am
Im good, thanks for asking!

I'm selling because..


1. Zooming out on the chart, trend is down.
2. We have an S/R level around 80.80 - 80.90 thats been tested by 6 daily bars now and not closed above.
3. This s/r level coincides with the 38 fib drawn from the most recent downwards moment.
4. BRN of 81.00 may provide extra resistance
5. Previous bar is a BEARISH PINBAR, the proceeding bar has now broken below.

So basically, 5 reasons to suggest this pair will go down rather then up. Thats my reason to go short. My entry is based on price action. In this case the break below a bearish pinbar.

Stop loss just above the pinbar tail 81.45
  • #115,008
  • Aug 6, 2012 4:01am Aug 6, 2012 4:01am
Quoting Brixton
Im good, thanks for asking!

I'm selling because..


1. Zooming out on the chart, trend is down.
2. We have an S/R level around 80.80 - 80.90 thats been tested by 6 daily bars now and not closed above.
3. This s/r level coincides with the 38 fib drawn from the most recent downwards moment.
4. BRN of 81.00 may provide extra resistance
5. Previous bar is a BEARISH PINBAR, the proceeding bar has now broken below.

So basically, 5 reasons to suggest this pair will go down rather then up. Thats my reason to go short. My entry is based on price...

Might want to watch out for this dual action weekly SP at 80.55
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  • #115,009
  • Aug 6, 2012 4:15am Aug 6, 2012 4:15am
Quoting Brixton
Im good, thanks for asking!

I'm selling because..


1. Zooming out on the chart, trend is down.
2. We have an S/R level around 80.80 - 80.90 thats been tested by 6 daily bars now and not closed above.
3. This s/r level coincides with the 38 fib drawn from the most recent downwards moment.
4. BRN of 81.00 may provide extra resistance
5. Previous bar is a BEARISH PINBAR, the proceeding bar has now broken below.

So basically, 5 reasons to suggest this pair will go down rather then up. Thats my reason to go short. My entry is based on price...

may be nice one. wish u handsome trade..
  • #115,010
  • Aug 6, 2012 5:03am Aug 6, 2012 5:03am
Hi guys,

Just wondered whether anybody could comment on this possible Jarroo style long setup on AUDJPY daily. We've had a PBT&CA the line at 82.20 and we could soon re-test that line again. I've tentatively marked a stop under the low of the previous candle.
Any comments gratefully accepted.

Dave

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  • #115,011
  • Aug 6, 2012 5:09am Aug 6, 2012 5:09am
Quoting Pinbar
Might want to watch out for this dual action weekly SP at 80.55

I dont trade off the weekly charts (unless there is a very clear S/R level being attacked). I can't see 80.55 being a barrier, with price having spent most of the last 3 days below that level. Obviously, this is coming off the daily chart.
  • #115,012
  • Aug 6, 2012 5:19am Aug 6, 2012 5:19am
hmmmmmmmm having said that. 15m shows 4 bounces off the 55 level
  • #115,013
  • Aug 6, 2012 6:13am Aug 6, 2012 6:13am
Hey guys,

after a long time of absence I just wanted to chime in and say thank you to all the great traders in here: Mike, Jarroo, Ghous, Pinbar (hey PB, how are you my man?), last but not least Jim and of course all the other guys and girls in here that I forgot to mention and that keep this thread up and running. Thanks for putting me on this windy but precious and life changing road. Thanks for your dedication, your patience and for making this by far the coolest place on the internet.

I'm looking forward to visit this thread and the PF more often in the future. See you soon!

Best regards,
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #115,014
  • Aug 6, 2012 6:18am Aug 6, 2012 6:18am
Quoting Dan Gilbert
Markets have felt very very dead in terms of daily PA recently.... like in the last month. weekly has been shallow too. A lot of sideways chop, and not much in the way of AH-HA! set ups....
solid post Dan

...anyway i call this !
Hero calls followed by margin calls...
  • #115,015
  • Edited 7:58am Aug 6, 2012 6:59am | Edited 7:58am
Quoting HanSolo
Hey guys,

after a long time of absence I just wanted to chime in and say thank you to all the great traders in here: Mike, Jarroo, Ghous, Pinbar (hey PB, how are you my man?), last but not least Jim and of course all the other guys and girls in here that I forgot to mention and that keep this thread up and running. Thanks for putting me on this windy but precious and life changing road. Thanks for your dedication, your patience and for making this by far the coolest place on the internet.

I'm looking forward to visit this thread and the PF more...
Hey Han Solo
Great to see you back again.
I still remember with fond memories those weekends with, where is price going where did it go sessions.
Hope all is well with you and your family.
  • #115,016
  • Aug 6, 2012 7:35am Aug 6, 2012 7:35am
Quoting HanSolo
Hey guys,

after a long time of absence I just wanted to chime in and say thank you to all the great traders in here: Mike, Jarroo, Ghous, Pinbar (hey PB, how are you my man?), last but not least Jim and of course all the other guys and girls in here that I forgot to mention and that keep this thread up and running. Thanks for putting me on this windy but precious and life changing road. Thanks for your dedication, your patience and for making this by far the coolest place on the internet.

I'm looking forward to visit this thread and the PF...
Hey Dude!

What's up
  • #115,017
  • Aug 6, 2012 8:00am Aug 6, 2012 8:00am
Quoting Pinbar
This 0.79500 area looks promising, combined with the previous monthly consolidation box from way back in 2008.

We shall see.
It's going for the bait.
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  • #115,018
  • Aug 6, 2012 8:06am Aug 6, 2012 8:06am
Quoting Pinbar
It's going for the bait.
very nice pin! I just posted this chart in the PF!
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  • #115,019
  • Aug 6, 2012 8:16am Aug 6, 2012 8:16am
Just revised the bait area.

What I do not like about it is this pendant.
The pendant projection could put it at 0.8180

Interested to hear what the Pendant Master, Mike thinks about it.
If he is not already in this long off the breakout on H4?
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  • #115,020
  • Aug 6, 2012 8:24am Aug 6, 2012 8:24am
Quoting mbqb11
very nice pin! I just posted this chart in the PF!
Oh, right, thanks Mike.
I am in but am keeping it tight, I do not like that pendant & its possible projection.
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