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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

  • #120,121
  • Oct 28, 2012 3:34pm Oct 28, 2012 3:34pm
Quoting bullzeye
Thanks for your excellent analysis fxprocessor! ...looking for more from you here
Thanks for the kind words bullzeye. This has always been a great thread and Mike speaks a lot of sense in my opinion.

cheers
  • #120,122
  • Oct 28, 2012 4:50pm Oct 28, 2012 4:50pm
Quoting KarlfromHU
Hi everyone!

First of all I would like to apologize for my english, I'm from Hungary so that's not my mother tongue, I'm sure I'll do a lot of grammatical mistake.
Secondly, thanks for this thread, especially for the senior members. That's an incredible great and unselfish community!
I was playing online poker for years, and now i would like to learn this "game". I know it will be a long, dark, and hard road, but I have a lot of time and motivation.
I just started to read about the forex 3 weeks ago and I was lukcy because i found...
hey bro,

did you read enough about pinbars? Maybe you should, because your bar doesn't look like a pin :nerd:
  • #120,123
  • Oct 28, 2012 4:59pm Oct 28, 2012 4:59pm
Quoting KarlfromHU
Hi everyone!

First of all I would like to apologize for my english, I'm from Hungary so that's not my mother tongue, I'm sure I'll do a lot of grammatical mistake.
Secondly, thanks for this thread, especially for the senior members. That's an incredible great and unselfish community!
I was playing online poker for years, and now i would like to learn this "game". I know it will be a long, dark, and hard road, but I have a lot of time and motivation.
I just started to read about the forex 3 weeks ago and I was lukcy because i found...
Hey kal

Welcome to the thread You are lucky to find this thread early on. Don't worry about your English is is fantastic and better than mine

Be careful here for a pinbar we must have the open and close be contained within the previous bars high low. On this bar the close is above the previous bars high.

Let me know if that makes sense and again welcome
Mike
  • #120,124
  • Oct 28, 2012 5:03pm Oct 28, 2012 5:03pm
Quoting xiaoxin
Oh, I cannot find Fx majors either.
What's up?
No idea.
it's all back up now


Mike
  • #120,125
  • Oct 28, 2012 5:47pm Oct 28, 2012 5:47pm
This is such a massive thread dating back to 2005 that is mentioned so many times on othe threads on this forum.I have finally come for a look. I saw that 100 posts had been collated into one post which was nice but still rather random when reading them.

I know I may get called a lazy ass for this but would it be possible to consolidate the main points from the old timers on this thread to make it into 1 post?

In my day job I am a boss and if an employee told me to go and read this thread to understand it I would tell him/her no way go and put it into a couple of paragraphs and then lets talk. I prefectly understand you are no my employees and I am trying a short cut here But a consolidation the MAIN strategy points collected over 7 years would be awesome.

Somthing like:

1) only trade large times frames. Daily/weekly
2) Use X SMA and Y SMA ( see X post and link to it if applicable)
etc

Everything in life can be broken down into manageable steps that would cover 90% of this 8000 post thread.
  • #120,126
  • Oct 28, 2012 5:52pm Oct 28, 2012 5:52pm
Quoting Euroscum
This is such a massive thread dating back to 2005 that is mentioned so many times on othe threads on this forum.I have finally come for a look. I saw that 100 posts had been collated into one post which was nice but still rather random when reading them.

I know I may get called a lazy ass for this but would it be possible to consolidate the main points from the old timers on this thread to make it into 1 post?

In my day job I am a boss and if an employee told me to go and read that to understand it I would tell him/her no way go and put...
Hey Euro

Welcome to this thread. You hit on the reason why a lot of people get scared off from this thread. It's just unfortunately a pitfall of a thread, especially of this size.

With that said it's impossible to sum up this stuff so simply. The best way I can explain why is that what we do here and show are concepts. It's then about learning each of these concepts, and then learning how to blend these concepts to a method. This method is not something that can be written or explained rigidly. Not in a way that I have ever seen be efficient or helpful.

I know it's huge but I just suggest two things. Reading through the first few hundred pages. Reading everything in post 1. And then reading ALL of James16 posts. Although this alone will take some time, most people have not regretted then.

Welcome to our HUGE but friendly thread

Mike
  • #120,127
  • Oct 28, 2012 5:54pm Oct 28, 2012 5:54pm
Hi Mike and everyone ,

what do you think about this short setup @GBPUSD
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  • #120,128
  • Oct 28, 2012 6:20pm Oct 28, 2012 6:20pm
Quoting Euroscum
This is such a massive thread dating back to 2005 that is mentioned so many times on othe threads on this forum.I have finally come for a look. I saw that 100 posts had been collated into one post which was nice but still rather random when reading them.

I know I may get called a lazy ass for this but would it be possible to consolidate the main points from the old timers on this thread to make it into 1 post?

In my day job I am a boss and if an employee told me to go and read this thread to understand it I would tell him/her no way go and put...
Just thought I would chime in. No PDF or other summary would do justice to this amazing thread. The charts in the first 100 or so pages that James puts up are worth gold and absolutely the foundation for the rest of the thread. I find myself going back over them time and time again to reinforce the value of true price action. You will lose much if you don't pore over these charts themselves for hours. After that there are many other diamonds contained throughout the thread. Some traders no longer posting here or only posting seldom have truly amazing posts. Reading their profiles and scanning some of their threads they started is also valuable. Although the thread is massive it is not boring to read. I would say beginning to read this thread is like embarking on a college degree.
  • #120,129
  • Oct 28, 2012 7:59pm Oct 28, 2012 7:59pm
Quoting mbqb11
Hey John

Welcome to the thread Glad this thread is refreshing and hope to see you hanging out here we have a great group of people hanging out


The 150 and 365 EMAs are just medium and long term MAs that James has used for a LONG time. They are used in a few different ways but most easily to start with is just as pure confluence. So using them with S/R and other factors to find good areas to begin to look for trades. Many use them others here don't or use different EMAs. I don't think the number as important as just the general understanding...
Thankyou so much, that is really kind. I am looking for short setups on the GBP/USD based on bounce off channel high and inside bar. Also looking at a Short (not entered yet) based on weekly GBP/JPY.
  • #120,130
  • Oct 28, 2012 10:27pm Oct 28, 2012 10:27pm
EURUSD D1
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  • #120,131
  • Oct 29, 2012 12:22am Oct 29, 2012 12:22am
Quoting geniusztc
AGAIN
price above 103.25 will make me change my mind.
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A chart helps those who can read it.
  • #120,132
  • Oct 29, 2012 1:02am Oct 29, 2012 1:02am
Quoting geniusztc
price above 103.25 will make me change my mind.
Totally agree, strong short setup on higher TF

John
  • #120,133
  • Oct 29, 2012 1:27am Oct 29, 2012 1:27am
Thanks Mike.
Now Fxpro is all back up.
I can read my charts now.
Green pips to all!
xiaoxin
  • #120,134
  • Oct 29, 2012 2:26am Oct 29, 2012 2:26am
Quoting bullzeye
hey bro,

did you read enough about pinbars? Maybe you should, because your bar doesn't look like a pin :nerd:

Actually, that weekly PB is still trade-able because of the Proxy Eye.
I have seen J16 trade worse. New people are probably better off, not using a proxy eye though.

But, I prefer the Daily BEOB and use the weekly Pin low as the target.
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  • #120,135
  • Oct 29, 2012 3:24am Oct 29, 2012 3:24am
Quoting dug_forex
Totally agree, strong short setup on higher TF

John
yes.congratulation。 maybe we will see 101.2 in the next few days. who knows .lol
A chart helps those who can read it.
  • #120,136
  • Oct 29, 2012 3:33am Oct 29, 2012 3:33am
Quoting mbqb11
Hey kal

Welcome to the thread You are lucky to find this thread early on. Don't worry about your English is is fantastic and better than mine

Be careful here for a pinbar we must have the open and close be contained within the previous bars high low. On this bar the close is above the previous bars high.

Let me know if that makes sense and again welcome
Mike
Thanks for your replies, I really appreciate it, and sorry if i'll have stupid questions.
I don't know where, but I found a pdf file in this thread, called "Pin bars advanced.pdf". I saw this picture there, and i thought, i can use the bar from 19/08/2012 as a "proxy eye". If you have time, can you explain where i lost track?
There is one more reason, why i thought it could be a profitable trade. On the daily TF i saw a BUOB, is that tradeable or the FTA is too close?
I heard about the storm...I hope everything gonna be alright!
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  • #120,137
  • Oct 29, 2012 8:44am Oct 29, 2012 8:44am
Hi guys, Its been long since I have posted anything here. This is my ongoing GU short .. any suggestion on "Exit Strategy" would be highly appreciated.

I was looking for a short after the retest on the Trend-line. Moved to BE after the break of weekly pivot. Initial target is 61.8 fib retrace of the previous move, which is also a BRN 1.60. This area looks like very important, its already acted as support twice this month .. so looks like a good target to me.

My question is, How big the chance is, that it may break through the 61.8 and reach 76.4/near weekly support? Am I missing something?
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" The fool who never traded Demo "
  • #120,138
  • Oct 29, 2012 9:07am Oct 29, 2012 9:07am
Quoting KarlfromHU
Thanks for your replies, I really appreciate it, and sorry if i'll have stupid questions.
I don't know where, but I found a pdf file in this thread, called "Pin bars advanced.pdf". I saw this picture there, and i thought, i can use the bar from 19/08/2012 as a "proxy eye". If you have time, can you explain where i lost track?
There is one more reason, why i thought it could be a profitable trade. On the daily TF i saw a BUOB, is that tradeable or the FTA is too close?
I heard about the storm...I hope everything gonna be alright!
Hey Karl

Yep you can use a proxy bar just as you show but be VERY careful> Often a proxy pin is a very weak closing bar and if we aren't extra careful these catch people and price goes the wrong way. So I suggest being new to focus on strong closing pinbars first.

The daily would be a BEOB not a BUOB(maybe a typo). One thing to do is keep your timeframes separate. For example the BEOB may trigger and pull us towards the FTA around 79~ and then price move back higher. So that would make the BEOB successful on the daily but that could mean nothing on the weekly as price could reverse.

So the beob on the daily is much better looking then the weekly pinbar and that can often happen

Best
Mike
  • #120,139
  • Oct 29, 2012 1:25pm Oct 29, 2012 1:25pm
AUD/CHF

simple touch trade, look on the S/R flip ...

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  • #120,140
  • Oct 29, 2012 1:29pm Oct 29, 2012 1:29pm
Quoting bullzeye
GBP/CHF

nice pin (i hear Mike already:" Too small nose!... ) , nice TL, nice PPZ...but not sexy enough something missing ???

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GBP/CHF

finally i couldn't resist to this inconspicuous beauty

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