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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

  • #118,881
  • Sep 21, 2012 1:37pm Sep 21, 2012 1:37pm
Hi everyone,

This is my first post again in ages. I've been away from trading (and most other things financial) for a while as I've lost my eye sight and spent time recovering and learning how to re-adapt.

I've never really posted much before but really missed reading everyone's posts and am very glad to be back! :-)

I was a member at the james16 website before and especially liked the training and interactive videos and commentaries. I was wondering whether the site is still maintained regularly with new videos. I'd like to subscribe again, but as the landing pages haven't changed much, I didn't know whether the backstore was still active and updated regularly?

The videos and discussions would be really useful for me - I might not be able to see the graphs, but I memorise them (especially the longer timeframes) and with the audio I'll be able to hear from the videos and being able to take part in the discussions online/on the phone would be awesome.

Please let me know if you know whether the subscription side of things and videos are still updated regularly and are worth subscribing to, or whether you think it's best to just try to follow the thread here if there aren't anynew / updated videos/forums on the james16 site anymore.

Thanks everyone - and again, it really is great to be back and read you guys again!!!

Cheers,
G.
  • #118,882
  • Sep 21, 2012 2:13pm Sep 21, 2012 2:13pm
Quoting goodtiding5
Some of the PA signals on the daily AUD/USD chart. Signals on PPZ is lethal :-)
i played that last swing high Pinbar. i was up 150 pips so brought stoploss down to BE+20 pips and decided to let it ride, unfortunately i got stopped out but at least never let it become a loser! it will probably sink now im out.
in hind sight i should have really taken profit at 100-150 pips, i had set TP to bout 350 pips which was greedy and had disrespectful to the Resistance and pivot points on the way down.
next time ill look to TP at a realistic level.
Thank you J16 & Trader Dante
  • #118,883
  • Sep 21, 2012 2:21pm Sep 21, 2012 2:21pm
Hello guys,
I have a different problem and I don't where to ask. I'm new and I don't know what broker should I chose. I know that ar many good brokers but they are o different time zone and that is the problem. On a platform is a PA on daily graphic and on a different platform is not a PA. From this point of view I don't know on what platforms are many "fake" PA. I'm very confused and I don't know if should I chose a broker with GMT ar EEST or CET? What broker with what time zone should I chose?
  • #118,884
  • Sep 21, 2012 3:01pm Sep 21, 2012 3:01pm
just wondering about a possible play on the weekly of EURUSD

I has produce a double high bar and the second bar is touching the 61 of the fibo it does not have much space to run long as this years highs are not far away but has plenty of space below.
Not only has it produced a double high bar but this play is also eligible as a "low of the high period" (lohp). trending 8 week market and once price closes below the low bar it would a be signal to go short.

so the price action and specific plays are fine but am i just making stuff up to open a trade? is the location poor? granted its not an A+ trade position
Thank you J16 & Trader Dante
  • #118,885
  • Sep 21, 2012 3:30pm Sep 21, 2012 3:30pm
Quoting fx-greg
Hi everyone,

This is my first post again in ages. I've been away from trading (and most other things financial) for a while as I've lost my eye sight and spent time recovering and learning how to re-adapt.

I've never really posted much before but really missed reading everyone's posts and am very glad to be back! :-)

I was a member at the james16 website before and especially liked the training and interactive videos and commentaries. I was wondering whether the site is still maintained regularly with new videos. I'd like to subscribe...
Hey G

Welcome back, yep we are still kicking as usual

If you have any questions drop me a line

Best
Mike
  • #118,886
  • Sep 21, 2012 3:32pm Sep 21, 2012 3:32pm
Quoting ulea.bogdan
Hello guys,
I have a different problem and I don't where to ask. I'm new and I don't know what broker should I chose. I know that ar many good brokers but they are o different time zone and that is the problem. On a platform is a PA on daily graphic and on a different platform is not a PA. From this point of view I don't know on what platforms are many "fake" PA. I'm very confused and I don't know if should I chose a broker with GMT ar EEST or CET? What broker with what time zone should I chose?
Hey Ulea

We generally say play it as you see it. Since fx is a 24/7 market there is no set open and close. But a lot of us use the NY close(or 5pm et) as our close time since that is the end or near the end of the main sessions. Asia/Sydney is generally considered the new day. If you want a 5pm et close check out FXpro feed

Many use a later close too like IBFX feed that James uses

Best
Mike
  • #118,887
  • Sep 21, 2012 3:35pm Sep 21, 2012 3:35pm
Quoting chartergas
just wondering about a possible play on the weekly of EURUSD

I has produce a double high bar and the second bar is touching the 61 of the fibo it does not have much space to run long as this years highs are not far away but has plenty of space below.
Not only has it produced a double high bar but this play is also eligible as a "low of the high period" (lohp). trending 8 week market and once price closes below the low bar it would a be signal to go short.

so the price action and specific plays are fine but am i just making stuff up...
Hey Chartergas

In terms of J16 uses, this is simply an Inside bar and as you said nearly a TBH(two bar high). That is resistance until broken. A break to the downside should see the week high from 3 weeks a go. A break of the TBH the BEOB from back in April. It's a bit messy from the weekly perspective but that's where i see price going depending on which way we break. My guess is down to retest at least the high, if not lower into the pivot(red area).


Best
Mike
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  • #118,888
  • Sep 21, 2012 3:38pm Sep 21, 2012 3:38pm
Quoting mbqb11
Hey Chartergas

In terms of J16 uses, this is simply an Inside bar and as you said nearly a TBH(two bar high). That is resistance until broken. A break to the downside should see the week high from 3 weeks a go. A break of the TBH the BEOB from back in April. It's a bit messy from the weekly perspective but that's where i see price going depending on which way we break. My guess is down to retest at least the high, if not lower into the pivot(red area).


Best
Mike
thank you for your input mike you're a star!
im guessing the Fibo 61 level is irrelevant as well?
Thank you J16 & Trader Dante
  • #118,889
  • Sep 21, 2012 4:00pm Sep 21, 2012 4:00pm
Quoting mbqb11
way to go SF


Best
Mike
Thanks To You Too Mike

Quoting meshka
just be patient boy... jumped too quick... as I jumped into EURUSD few days ago and was served as a little snack for sharks ... we just need some clear sign of rejection to pull trigger down...
we will get nice shorts on both GBPUSD and EURUSD soon... EURUSD is nicely rejecting attempts to run over 1.3030-1.3065 zone already.
i think next week bulls will give up on these pairs if nothing will happen extraordinary
Quoting bullzeye
have to agree with Meshka, look how the big boys consumed all buy orders and pushed the pair to the 1.6300 to fall maybe like a rock after that ...i am ready to add another short position, after such a monster trend you have to be patient...

but i could be wrong
yup, still unclear PA in EU and GU for short.
  • #118,890
  • Sep 21, 2012 4:31pm Sep 21, 2012 4:31pm
Quoting mbqb11
Hey G

Welcome back, yep we are still kicking as usual

If you have any questions drop me a line

Best
Mike

Awesome - thanks. Glad you're still well and kicking. I hope my voice recognition software is doing the typing well enough. It took ages to find a package that recognises my ex South African - now slightly British accent without making too many typing mistakes!

Could I ask what your email address is please Mike? I only had Jim's and I can't pm because I'm still a Junior member on FF. Alternatively, let me know if you prefer another method of contact.

It's going to be interesting seeing if I can get this to work, but my goal is to give new meaning to 'trading blind' if I'm successful My friends all think I'm trying the impossible - I guess the trader in me just finds that notion all the more attractive!

Take care - G
  • #118,891
  • Sep 21, 2012 4:42pm Sep 21, 2012 4:42pm
Quoting mbqb11
Hey M

It's really whatever you find most comfortable. That's why there is no one set way to do this. I love BRNs. But that doesn't mean I take them for more then what they potentially are on any give chart, timeframe, setup. Same should go for the use of MAs. If they help guide you then by all means. We can see James uses them great and they give traders a great place to start building confluence and a story.

As for your charts it's certainly a make or break area, if that TL doesn't hold we are moving higher. I don't take touch trades quite...
Mike,
I got taken out today for a loss of 50 pips. I'm not too demoralised as this is my third trade this month and the other 2 were runners just using simply the method highlighted by James' recent charts- all the recent ones have been touch trades using what he calls trifectas- tl intersecting brns and pivot zones- this trade had all this plus a dbhlc a few days ago signalling the break downwards and the 150ema there also- 5 confluences. Todays bar almost ended up a pinbar signalling further move down (although tl would be a barrier) but it didn't. Looks like you were right again (surprise surprise!!!).

I was just going to stick to these type of trades as I am not prepared to risk full bar losses on large pinbars and OBs but I find there are so many different approaches now on the forum that I am getting very confused e.g. taking a trade potentially requires consideration of all the following:- Price action/ Support/ Resistance/ Pivot zones/TLs/ BRNs/ Space/ Consolidation/ Wedge patterns/ HCR/ LCS/ HHR/ LLS/150 ema/ 365 ema/ Divergence/ PBT (and I've probably missed something). I have still got a bit to go yet!

Thanks
M
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  • #118,892
  • Sep 21, 2012 5:14pm Sep 21, 2012 5:14pm
Quoting fx-greg
Awesome - thanks. Glad you're still well and kicking. I hope my voice recognition software is doing the typing well enough. It took ages to find a package that recognises my ex South African - now slightly British accent without making too many typing mistakes!

Could I ask what your email address is please Mike? I only had Jim's and I can't pm because I'm still a Junior member on FF. Alternatively, let me know if you prefer another method of contact.

It's going to be interesting seeing if I can get this to work, but my goal is to give new...
Hey Greg

Really sorry to hear about your eyesight. Glad you have such positive attitude towards it. Will do all I can to help. Inspirational my friend

Please post your email and I will send you a personal email ASAP

Best
Mike
  • #118,893
  • Sep 21, 2012 6:36pm Sep 21, 2012 6:36pm
Quoting jarroo
Hey Dan glad you're here . .

Great example on the EurAud today on an entry long . . Touch Trade or Hourly Close Confirmation (Signature) entry ? You want to see it??
I assume your talking about this trade: http://www.forexfactory.com/showthre...83#post6033483

So why was this a touch trade .. what about waiting for a DCC. Yes H1 showed a signature (no hourly bar closing below the level). Its easy to say, we should of used a CC when a touch trade fails and vice versa after the setup has played out.
  • #118,894
  • Sep 21, 2012 6:43pm Sep 21, 2012 6:43pm
Hi Mike, Whats your opinion on this Pin Bar at a level of s/r ? Looks like a decent pinbar that jumps off the chart.

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  • #118,895
  • Sep 21, 2012 6:58pm Sep 21, 2012 6:58pm
Quoting dan89
Hi Mike, Whats your opinion on this Pin Bar at a level of s/r ? Looks like a decent pinbar that jumps off the chart.

Attachment
Hey Dan

It is a great area for a bar setup

I just dont like the close though would have wanted a stronger bearish close. I happen to have caught a nice touch trade at the top just under 1.63 so I will leave my stop at b/e and see if this pinbar can pull us down more. If I wasn't in that trade though I wouldn't be as excited to short it outright. Perhaps a retracement entry at the previous bar highs.

Great area, just not a good enough bar for my pickyness. Certainly I don't doubt many people will short it though

Best
Mike
  • #118,896
  • Sep 21, 2012 6:59pm Sep 21, 2012 6:59pm
Quoting millions
Mike,
I got taken out today for a loss of 50 pips. I'm not too demoralised as this is my third trade this month and the other 2 were runners just using simply the method highlighted by James' recent charts- all the recent ones have been touch trades using what he calls trifectas- tl intersecting brns and pivot zones- this trade had all this plus a dbhlc a few days ago signalling the break downwards and the 150ema there also- 5 confluences. Todays bar almost ended up a pinbar signalling further move down (although tl would be a barrier) but it didn't....
Hey M

Can't win em all, just about being consistent and you seem to be doing that.

All part of the business

Keep at it

Mike
  • #118,897
  • Sep 21, 2012 7:10pm Sep 21, 2012 7:10pm
Quoting mbqb11
Hey Dan

It is a great area for a bar setup

I just dont like the close though would have wanted a stronger bearish close. I happen to have caught a nice touch trade at the top just under 1.63 so I will leave my stop at b/e and see if this pinbar can pull us down more. If I wasn't in that trade though I wouldn't be as excited to short it outright. Perhaps a retracement entry at the previous bar highs.

Great area, just not a good enough bar for my pickyness. Certainly I don't doubt many people will short it though

Best
Mike
God damnit ! I cant get these right
  • #118,898
  • Sep 21, 2012 7:22pm Sep 21, 2012 7:22pm
Quoting mbqb11
Hey Greg

Really sorry to hear about your eyesight. Glad you have such positive attitude towards it. Will do all I can to help. Inspirational my friend

Please post your email and I will send you a personal email ASAP

Best
Mike
Thanks Mike. My email address is [email protected].

I don't know if it's like this for everyone, but before, my trading strategies always built up a kind of 'story' about a graph or product I was trading. It's amazing how much I took for granted by just visibly looking at and even closely studying a graph. Hearing (and perhaps a better word, 'listening') to prices in stead of seeing them changes something about the relationship one has to the market. It's not just about OHLC's and how they connect anymore - but now the stories I build up is not so much the actual graph within a timeframe, but the actual method and personality of movement within that TF. It's very difficult to explain and I'm not sure whether 'it' is even tradeable, but I'm sure as hell going to do my damndest to give it a go. TGF Demo accounts!!

I'd love to know whether there are any other guys on here that have limited eye sight and are trying or successfully managing the same thing, but that's a topic for a different thread once I've finally earned my Junior Member wings properly.

I know I've already said it in my first post, but it really, really is great to be back. Even if I never get to trade another successful cent, the best people I've had the pleasure of meeting over the years have been my virtual and real trading partners. Notwithstanding the many unsupportive and illigitimate ppl here, as anywhere in life, it has never ceased to amaze me that in the one place driven by pure and supposed almost evil greed, the trading world, also exists the lonely friends in life we bond with more than anywhere else.

Trading is inately an 'alone activity' - too much happens in a day, moment or trading thought to fully share with someone else, or even our husbands or wives completely, but perhaps that, more than a goal, strategy, or anything else connects us somehow.

Eye site was a rental I had for a while. Giving the keys back was tough at first, but in exchange for that priveledge I did and am still learning that I took so much for granted. In some ways, perhaps I 'see' many things that I 'saw' before when I could physically see, more clearly now.

I doubt that I'm inspirational in any way, but I don't suffer pity gladly. Although I've managed to do very little in my life truly successfully and without regret, I am and will always be a challenge junkie. The way I see it - and the pun was intended - this time I just got my wish for real.
  • #118,899
  • Sep 21, 2012 7:23pm Sep 21, 2012 7:23pm
Quoting dan89
God damnit ! I cant get these right
Dan I can sense your frustration in your posts(well obviously this one now) But seriously that's the fastest way not to make progress. I know it's frustrating but you gotta stay level or even if you find good trades you'll sabotage them.

THis isn't a BAD setup, it's just not one that I would personally trade. Remember you are learning concepts not how to trade exactly like another person. Demo it, come up with a GAME PLAN if you like this bar situation. That is almost far more important then if I would wouldn't take a setup.

Stay calm though, it's important

Mike
  • #118,900
  • Sep 21, 2012 7:52pm Sep 21, 2012 7:52pm
Quoting jarroo
Nice one Steve . .That Weekly / Daily LCS level (.9800ish) was a great target to take 100% profit . .Why?. . because if it did Close Above it, you can always get back in it long. . .just some thoughts .

Jim
That is a great point that, I had neglected Jim.

We are working out support and resistance based on what price is telling us. So, there really was no need to stay in the trade even after taking off most of the profit, HOPING that it would break Through & Close Above.
We wait for price to show us that it is using the area as support or resistance &, take the HOPE & Guessing, right out of the business.

Appreciated
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