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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

  • #118,441
  • Sep 14, 2012 12:38pm Sep 14, 2012 12:38pm
Quoting jarroo
Much of what goes into an A+ setup, goes into the strength and Space of the Level where the setup develops. . .much like a James16 Price Action Setup.

Deep Swing points and their HCR/LCS Levels . . .and . . .The tops (HCR) and bottoms (LCS) of thick Consolidation Areas. These areas of the market also provide some good Space to trade into ..

Concentrating on just these areas of the market is a great place to start.

Jim
Thanks Jarroo Sir, Learning it

I saw your earlier posts.. it was nice to see how beautifully this setup works and was obvious in your charts.. was thinking.. i have too been watching same charts but no wonder these setups didn't ring my head

Training my eye..!
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,442
  • Sep 14, 2012 12:42pm Sep 14, 2012 12:42pm
Hello all,

What would be the things to watch out for playing this weekly pin?

Things I like about it:
- Looks like a Swing failure point where price broke through a strong LCS level but seems to be closing above (i.e. a Ghous special )
- Nice long nosed pin just above a strong consolidation.

Since space doesn't look to be too great, trade management wise, this might be a quick hit and TP at 79.5.

Ganesh
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  • #118,443
  • Sep 14, 2012 1:36pm Sep 14, 2012 1:36pm
Hi Jim

Can you provide your inputs on this trade? Do you see anything wrong with the entry? This is underwater at this time



Thanks
Vicky
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Fall seven times, stand up Eight! #GGMU
  • #118,444
  • Sep 14, 2012 2:09pm Sep 14, 2012 2:09pm
Quoting vickym
Hi Jim

Can you provide your inputs on this trade? Do you see anything wrong with the entry? This is underwater at this time



Thanks
Vicky
HI Vicky,

I surely am not Jim, but.

Look about 10 days further back from your HCR, you will see another HCR, you just bounced between them, guess the upper one was stronger and now you have a BEOB to go short from.
  • #118,445
  • Sep 14, 2012 2:12pm Sep 14, 2012 2:12pm
Quoting bullzeye
well, if so then its gambling and not trading. in this case i would examine your riskmanagement ...but you are a good one, so why you should downgrade your self to an amateur?

Keep up my friend!
Yes you are right.. sometimes I make some stupid gambling trades. still need to work and filter those from my head.
all is eternal - this is good news for people who loves bad news
  • #118,446
  • Sep 14, 2012 2:18pm Sep 14, 2012 2:18pm
Quoting gudras
I'm closing EUR/CAD
that was great one.
all is eternal - this is good news for people who loves bad news
  • #118,447
  • Sep 14, 2012 2:51pm Sep 14, 2012 2:51pm
Quoting nwo-trader
Looking for this weekly IB and the 1.5750 to continue to hold as support.
GBPUSD has treated me really well these past two weeks :-) Added into my position with the Monday daily IB on the 1.60 BRN. Trailing my stops up now, don't want to give much of this back at all. Lower lows made on the weekly/monthly charts, weekly descending TL breached, more upside is possible. Honestly think we may eventually make higher highs on the weekly/monthly charts.
Price is beautiful. A repetitive method is a competitive method.
  • #118,448
  • Sep 14, 2012 3:11pm Sep 14, 2012 3:11pm
Quoting nwo-trader
GBPUSD has treated me really well these past two weeks :-) Added into my position with the Monday daily IB on the 1.60 BRN. Trailing my stops up now, don't want to give much of this back at all. Lower lows made on the weekly/monthly charts, weekly descending TL breached, more upside is possible. Honestly think we may eventually make higher highs on the weekly/monthly charts.
This is kind of what I mean, will probably take quite awhile to get there if ever.
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Price is beautiful. A repetitive method is a competitive method.
  • #118,449
  • Sep 14, 2012 3:20pm Sep 14, 2012 3:20pm
Quoting nwo-trader
This is kind of what I mean, will probably take quite awhile to get there if ever.
Somebody has to do this.

Space: the final frontier. These are the voyages of the Forex trader. Its year on year mission: to explore strange new worlds, to seek out profit above all else, to boldly go where no one has gone before.
  • #118,450
  • Sep 14, 2012 3:21pm Sep 14, 2012 3:21pm
Quoting nwo-trader
Watching to see if we can get a weekly close above 31, would be the first weekly close above 31 for about 17 weeks. (PBT&CA?)
Think we got the weekly close above 31 :-)

Interesting tidbit - for every dollar that MSFT goes up Bill Gates net worth increases by about half a billion dollars. LOL The guy owns roughly 460 million shares.
Price is beautiful. A repetitive method is a competitive method.
  • #118,451
  • Sep 14, 2012 3:27pm Sep 14, 2012 3:27pm
Quoting Rust
Managed to squeeze a bit of profit and i'm closed. I will try to enter again on Monday if i got good price
very nice Rusty
  • #118,452
  • Sep 14, 2012 3:30pm Sep 14, 2012 3:30pm
Quoting ddinnov
Hello!

Anyone like USD/CAD pin that's forming? Could be some confluence with the 23.6 and previous PPZ on the weekly... A strong close above 0.9700 would be nice...
looks good, also on my WL. But after a such strong trend i`l wait the next candle to be sure...
  • #118,453
  • Sep 14, 2012 3:31pm Sep 14, 2012 3:31pm
Quoting ts63
USD/JPY is on my radar.

Pros : Weekly bullish pinbar with huge nose protruding a long way from the prices around it (James16 must be drooling on his keyboard...) + inverted pinbar on monthly + QE3 is now priced, + the usual rhetoric on Wednesday from japanese ministry of finance Azumi about "not tolerating any speculating moves on yen" and "I mean it when I say we'll take decisive steps" which usually means BOJ is about to intervene.
Have a very nice weekend folks.
looks beautiful, a reason to add another position

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  • #118,454
  • Sep 14, 2012 3:38pm Sep 14, 2012 3:38pm
Quoting Chanya
As hard , as risky , as expensive and as fearful it is to trade the precious metals , as rewarding they are ...

Last week on Wednesday , my Platinum trade got activated ... It has developed into a nice one ... This week overall is slow , very slow but this trade has kept me from making mindless mistakes ... Like I usually do , enter more then once when ever opportunity is presented , I entered only once on this because like I said , Its TOO expensive to trade initially and other factors ofcourse ... Levels in red represents the levels that I used...
Some one please PLEASE ask me what has become of my Platinum trade ???
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Human
  • #118,455
  • Sep 14, 2012 3:39pm Sep 14, 2012 3:39pm
Quoting deltaskelta
Just wanted to share some success I had last night. I was long the chfjpy and audjpy.

CHFJPY: pin pushed right above RN, decent amount of space to the right.
AUDJPY: freakish buob/pin kind of the same setup.

They were both short the yen, but the setups just looked pretty good to me from what I had been seeing lately.
well done deltaskelta! ...just playing the PA pattern and see how NICE the things work out !

Keep up!
  • #118,456
  • Sep 14, 2012 3:46pm Sep 14, 2012 3:46pm
Quoting Chanya
Some one please PLEASE ask me what has become of my Platinum trade ???
BALLS OF STEEL Man!!! I am sure i will here the noise of your weekend Party right up to my country
  • #118,457
  • Sep 14, 2012 3:48pm Sep 14, 2012 3:48pm
Quoting Chanya
Some one please PLEASE ask me what has become of my Platinum trade ???
Let me guess... the single went Platinum. lol
Price is beautiful. A repetitive method is a competitive method.
  • #118,458
  • Sep 14, 2012 3:48pm Sep 14, 2012 3:48pm
Also took three normal loses yesterday ... But I am better at excepting them now ... I guess its markets ways of getting back at us ...
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Human
  • #118,459
  • Sep 14, 2012 3:52pm Sep 14, 2012 3:52pm
Quoting bullzeye
BALLS OF STEEL Man!!! I am sure i will here the noise of your weekend Party right up to my country
I wish man ... But had one of the worst day of my life today ... Parents caught my 2 years old long forgotten mistake and now they are dominating me ...
Human
  • #118,460
  • Sep 14, 2012 4:06pm Sep 14, 2012 4:06pm
Quoting mbqb11
When you catch a runner go with it, but if you aren't in don't go chasing it. Wait for your trade setup to appear.

Best
Mike
Wise words of a great guy! You should listen to him folks!

I wish i had found this thread a few months earlier, that should protect me from big losses
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