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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

  • #120,981
  • Nov 18, 2012 1:54pm Nov 18, 2012 1:54pm
Quoting tinkerbelle
that swap on audnzd short... will eat you alive...
Damn, you are right.
  • #120,982
  • Nov 18, 2012 2:02pm Nov 18, 2012 2:02pm
Hi all!

I'm trying to touchtrade. What's your oppinion about this charts? Mike, i would greatly appreciate your comment if you have some time.

Good pips for everyone!
Attached Image(s) (click to enlarge)
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  • #120,983
  • Nov 18, 2012 2:04pm Nov 18, 2012 2:04pm
Quoting mbqb11
Hey C

IN this case on my chart you can see the close higher then then open. So it looks like price not being very convincing on the direction. The close of a bar is very important to me

As for traffic, check out my video in the guest section of the site called space vs traffic. That should get you started

Best
Mike

please could you give me a link, could not find the site,thank you.
  • #120,984
  • Nov 18, 2012 2:26pm Nov 18, 2012 2:26pm
Quoting KarlfromHU
Hi all!

I'm trying to touchtrade. What's your oppinion about this charts? Mike, i would greatly appreciate your comment if you have some time.

Good pips for everyone!
Hey Karl

I get nervous with new traders touch trading. i don't touch trade thaht often myself. I think your charts look ok. Your FTA will shift though as price pullsback. For example usd/jpy you will have to see HOW price pulls down to that area and your FTA is likely to be much much close then where you have marked. There is also a rising TL that I like for the USD/jpy

Best
Mike
  • #120,985
  • Nov 18, 2012 2:27pm Nov 18, 2012 2:27pm
Quoting carbonado
please could you give me a link, could not find the site,thank you.
Here ya go C they are located in the guest area

http://www.james16group.us/
  • #120,986
  • Nov 18, 2012 3:54pm Nov 18, 2012 3:54pm
Mike
Hello

What is your opinion on the eur / jpy

ib + ppz

Thanks for the feedback

Sorry for my bad English
Attached Image (click to enlarge)
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  • #120,987
  • Nov 18, 2012 4:09pm Nov 18, 2012 4:09pm
Quoting mbqb11
Hey Karl

I get nervous with new traders touch trading. i don't touch trade thaht often myself. I think your charts look ok. Your FTA will shift though as price pullsback. For example usd/jpy you will have to see HOW price pulls down to that area and your FTA is likely to be much much close then where you have marked. There is also a rising TL that I like for the USD/jpy

Best
Mike
Thank you Mike. I read a lot of intresting thing about the TT, so i would like to try how is it work. Of course I'm just demoing. I set closer my FTA.

Cheers
  • #120,988
  • Nov 18, 2012 4:53pm Nov 18, 2012 4:53pm
Quoting annu333
Hi guys,

I had a pending sellorder for CAD/JPY sideways market. It was triggered on friday. Everything is ok for now, but I don't like the fridays bar.


Any comments would be appreciated. If I translated the market wrong or did I oversaw some obstacles.
Hi annu,
be careful with such shorts as price likes to break through. The more it tests certain area, the more desire it has for a break.
  • #120,989
  • Nov 18, 2012 5:08pm Nov 18, 2012 5:08pm
Hello

We have a nice pinbar with Divergence on December 2012 Futures NASDAQ 100 E-mini
Broker Fx Pro

http://mytradesontheblog.files.wordp...ov12-daily.gif
Account deleted
  • #120,990
  • Nov 18, 2012 10:30pm Nov 18, 2012 10:30pm
Quoting mbqb11
Hey G

While I won't comment on what you should position size or how(financial advice is not legal to give and that can be constituted as that). I will say a weekly chart of YES is quite smooth. Being properly position sized(If one can't be based on a setup then one shouldn't be trading that setup or security) would not worry me on a chart like this as gaps are very rare, and very small when they occur.

As for the actual chart I see a very small beob on the weekly. I would want to see a more substantial size beob coming up off such a strong...
Mike and Zamfir,

Thanks for those wonderful suggestions. I completely ignored the rising trendline - which goes to show I still have some time to go before placing real trades
  • #120,991
  • Nov 18, 2012 10:54pm Nov 18, 2012 10:54pm
Quoting zamfir
yes giggles, the j16 works on all markets including nifty and NSE stocks. I usually trade NSE stocks on intraday. I did see that freakish down move done by emkay. Many lost due to that. This happened in first 2 hours. Try not to trade during the first 1-2 hours and then as day builds up, you can see the move clearly.

But like anything, freak moves can anytime on any stock. There was one recently on google too. So no stock or index can be an exception.

I am afraid you won't be able to trade forex OTC no matter what any broker says. It is...
Hey zamfir,

You live in India - so how come you have so many posts on forex in this forum?
  • #120,992
  • Nov 18, 2012 11:31pm Nov 18, 2012 11:31pm
Quoting zamfir
i know there is a lot in the way.Three good levels to be exact, but there could be more.

Will wait and watch PA at the marked levels.

At the very least i should get breakeven.
Hello Zamfir, How are you?

I have a suggestion if I may. Mike ( mbqb11 ) is a very very experienced trader. Even at times when you feel that you know all about a particular situation and you are going to nail it and Mike shows his doubts about that, you are wrong. I have had this experience many times and all the times, I was wrong and he was right. I may be wrong, but it seems like you have much to learn. You can very rarely predict that a move is going to be 500 pips.That is why we lock the profits along the way. And remember, if such a week setup gives you 50 pips 5/10 times, you are extremely lucky.
Human
  • #120,993
  • Nov 19, 2012 1:02am Nov 19, 2012 1:02am
Quoting Chanya
I have had this experience many times and all the times, I was wrong and he was right.
Same with my last trade. And what I like is that he is not just saying you are wrong, but also explains why.
  • #120,994
  • Nov 19, 2012 1:21am Nov 19, 2012 1:21am
Quoting Yehuda Sh
Mike
Hello

What is your opinion on the eur / jpy

ib + ppz

Thanks for the feedback

Sorry for my bad English
I see a BUOB on weekly chart's. It's in sideway's though. Have to wait for the confirmation.
  • #120,995
  • Nov 19, 2012 3:01am Nov 19, 2012 3:01am
Hi there,these are my active Trades for today.

I think this will be a choppy – tricky week ,stay tuned :-)


http://mytradesontheblog.files.wordp...ily-pinbar.gif
Account deleted
  • #120,996
  • Nov 19, 2012 3:37am Nov 19, 2012 3:37am
Hello everyone

First of all it's my first post here so I'd like to say hello and send some "thank you" to everyone involved in creating this thread. For now i'm checking old posts (especially Mike's) and playing rarely on demo account.

I have one question directly to Mike - I noticed that some time ago you had entry in mini dow... i wanted to ask you if you're still in (I think yes) and have you done some managing of it (f.e. moving stop loss)?

Thank you

Best regards
  • #120,997
  • Nov 19, 2012 5:44am Nov 19, 2012 5:44am
I would like seniors opinion plz. Start of the week. I did take GBDAUD trade, but fell a sleep before EURNZD closed the gap and touched WLCS.I trade live with small acc to get a feeling of live traiding. I did demo for 3month profitable. Thank you all seniors for a great education
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  • #120,998
  • Nov 19, 2012 5:55am Nov 19, 2012 5:55am
Quoting giggles
Hey zamfir,

You live in India - so how come you have so many posts on forex in this forum?
I'm from India too and who know's there may be many trader's who are from the same place but don't post often like me..
  • #120,999
  • Nov 19, 2012 6:05am Nov 19, 2012 6:05am
Quoting mbqb11
Here ya go C they are located in the guest area

http://www.james16group.us/
Could any senior member or any member of the paid forum tell me what's the benefit of paid forum over this free forum ?
I would like to subscribe to it. So just wanted to know.

Thank you.
  • #121,000
  • Nov 19, 2012 6:17am Nov 19, 2012 6:17am
Quoting fx9999
Could any senior member or any member of the paid forum tell me what's the benefit of paid forum over this free forum ?
I would like to subscribe to it. So just wanted to know.

Thank you.
This exactly same Q was asked here dozen times... dig a little.... last year or two, there are same questions repeated over and over and over again, i think every member should read few pages, dig for answers (use search.), go through charts of seniors and 99,99% questions are answered.
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