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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

  • #121,021
  • Nov 19, 2012 11:31am Nov 19, 2012 11:31am
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!
ALL IN on short nzd/chf NOW! i had a dream last night
  • #121,022
  • Nov 19, 2012 11:54am Nov 19, 2012 11:54am
Quoting Abdu
Hi Mike

I'm still reading this thread, now in 4100 post, and also trading in demo, can give some advices about this situation in gbp/jpy

kind regads

Abdu
Hey Abdu

This is a tricky one. Initially it feels very good cause of the resistance. Which i agree we are at. But more important is that we are trading into a very tight range underneath. I would have more confidence if this bounce off the BRN of 130. Just be very careful with these and get your stops to b/e quick. FTA are very close. This one may not even close as a pin but more neutralish as well


Best
Mike
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  • #121,023
  • Nov 19, 2012 12:06pm Nov 19, 2012 12:06pm
nikkei 225 future
an interesting to watch. i would like to see a close above the hcr with a pullback to the zone later.
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meine augen sind die sterne
  • #121,024
  • Nov 19, 2012 12:23pm Nov 19, 2012 12:23pm
Quoting bullzeye
AUD/CHF

unfortunately not a pin but a nice DBHLC on H4, on daily is forming a pin, 50 Fib retrace...

Attachment

Attachment
Can i ask ? SL based on what ?
  • #121,025
  • Nov 19, 2012 12:34pm Nov 19, 2012 12:34pm
Quoting mbqb11
Hey Abdu

This is a tricky one. Initially it feels very good cause of the resistance. Which i agree we are at. But more important is that we are trading into a very tight range underneath. I would have more confidence if this bounce off the BRN of 130. Just be very careful with these and get your stops to b/e quick. FTA are very close. This one may not even close as a pin but more neutralish as well


Best
Mike
thanks Mike for quick answer...

Abdu

p.s. I decided to read all this thread from the first post since last one. oh god, it will take at least one year)))
  • #121,026
  • Nov 19, 2012 1:30pm Nov 19, 2012 1:30pm
Quoting Abdu
thanks Mike for quick answer...

Abdu

p.s. I decided to read all this thread from the first post since last one. oh god, it will take at least one year)))
hey mate, just try this useful summary

http://www.forexfactory.com/showthre...99#post2585699

http://www.forexfactory.com/search.php?searchid=4110472
  • #121,027
  • Nov 19, 2012 1:46pm Nov 19, 2012 1:46pm
Quoting bullzeye
hey mate, just try this useful summary

http://www.forexfactory.com/showthre...99#post2585699

http://www.forexfactory.com/search.php?searchid=4110472
hi Bullzeye

thanks a lot, your help is really great... this filter is very useful...

Abdu
  • #121,028
  • Nov 19, 2012 2:36pm Nov 19, 2012 2:36pm
Quoting alexLV
ALL IN on short nzd/chf NOW! i had a dream last night


I think Not trading is a way of trading

my 2 cents? Broker will not see my money for NZDCHF
the pair is ranging
see my analysis on the chart

just my opinion :nerd:

http://mytradesontheblog.files.wordp...19-nov2012.gif
Account deleted
  • #121,029
  • Nov 19, 2012 5:41pm Nov 19, 2012 5:41pm
Sell stop USDCAD. Just have time to post it right now. Hope to be a good leg down.
I think it´s great to come home after a job day and see a good initial move of our trades...

Tks!
Vitor
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  • #121,030
  • Nov 19, 2012 10:12pm Nov 19, 2012 10:12pm
Quoting Chanya
It is great to see you here Jim ..... Can't tell you how much you have been missed ,

Here are my few trades from last few days ... I do not share everything I do here because new comers take it as a signal of some sort which is not a good thing to do unless they learn first ...
Hi Chanya/Jarroo,

So basically in this method, we do not take any price action as the signals, but to use the levels lined up instead? do you use any other confirmations (longer time frames lines/zones or shorter time frames PA) for the entry, or basically it's straight away limit buy/sell upon PBT&CA/CB?

It's a great method for it's simplicity,nonetheless, it feels less convincing as the trades were taken without much confirmations. (or probably i know too little about this).

Please enlighten me
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #121,031
  • Nov 20, 2012 12:48am Nov 20, 2012 12:48am
Quoting keroro0o0o
Hi Chanya/Jarroo,

So basically in this method, we do not take any price action as the signals, but to use the levels lined up instead? do you use any other confirmations (longer time frames lines/zones or shorter time frames PA) for the entry, or basically it's straight away limit buy/sell upon PBT&CA/CB?

It's a great method for it's simplicity,nonetheless, it feels less convincing as the trades were taken without much confirmations. (or probably i know too little about this).

Please enlighten me
Hi K,

You may want to have a look at a compilation Chanya did a while ago, explaining his strategy as a "derivative" of Jarroo's.
http://www.forexfactory.com/showthre...38#post5876538
Chanya says it loud enough but it never hurts reminding it.
This file is a pre-digest of HIS understanding of Jarroo's PBT method. In NO WAY should it avoid you looking at every and single chart from Jarroo.

The truth is, you would learn a lot by deciphering Jarroo's charts, working on them until you understand his way of thinking.
The same goes for Mike's and James16's charts BTW...

It looks easy, without PA etc, BUT there is quite some work behind to make it your own style... IMO of course

I am sure Pinbar will be a great source of information too, he masters this PBT stuff quite well, as far as I could see from his charts

take care,

P
Slow & steady
  • #121,032
  • Nov 20, 2012 1:39am Nov 20, 2012 1:39am
Quoting mbqb11
Hey Karl

Although I always think its easier to grasp PA, which in turn makes it easier to grasp TT....
Best of luck
Mike
Hey Mike!

I didn't see your answer, just right now. Thank you for your kind words and again, don't worry, I'll not deposit any money before 3 winner months in a row on demo. I don't want to be cleverer than you experienced traders, i try to learn about your mistakes in the past (I mean James wrote, he broke his account many times before he became profitable). There is a proverb in Hungary: The clever people learn from they own mistakes, the wise learn from somebody else mistake. So, I'll follow exactly James basic rules about the steps, and about the money management too. That's sure.

I'm lucky because I started to learn trading 1 months before, and i found this thread in my first days. I don't spend any hour with "custom indicators" or money maker expert advisors. That's my incredible luck, i think. I'm sure I'll trade based on James basic rules, but on wich sideway, I haven't decide it yet. I try to find the way wich pass to my personality and to my skills. There is many different way to be succesful based on James teach if i see it well. I mean, Ghous, Raczefx, The_Wizard, Jarroo and You follow the same main material, but each trading style is different. For me as a new guy in this business, this is a bit confusing. I thought, i should follow 1 "sideway" because i'll lose in this massive thread.

So that's why i try to learn TT now...even if it's harder than waiting for the formed bars...but maybe i can not learn it right now, and I'll jump back to the very traditional James stuff later. I hope my english was understadable. And thank you for your work in here, your helpfulness is simply amazing!

Best luck for you too!
  • #121,033
  • Nov 20, 2012 1:57am Nov 20, 2012 1:57am
Quoting mbqb11
Hey Chris

This is a tough area to trade in with so much consolidation. Here was my response and chart for someone else see if it helps
http://www.forexfactory.com/showthre...35#post6201235
Best
Mike
Thanks Mike, i get it now.

Chris
  • #121,034
  • Nov 20, 2012 4:23am Nov 20, 2012 4:23am
Some serious divergence going on around the BRN, the consolidation boxes & the PPZ.
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  • #121,035
  • Nov 20, 2012 4:59am Nov 20, 2012 4:59am
Quoting jarroo
I like the levels that you are thinking to add to your position. I think the better approach is to bank the 1st position and enter the "added position" as an individual trade. So if it doesn't go your way, you have that cash in the bank.
Or you could even trail both stops behind the 2nd position. That way you've locked the first one but still in for a potential runner.
  • #121,036
  • Nov 20, 2012 6:08am Nov 20, 2012 6:08am
Quoting KarlfromHU
Hey Mike!

I didn't see your answer, just right now. Thank you for your kind words and again, don't worry, I'll not deposit any money before 3 winner months in a row on demo. I don't want to be cleverer than you experienced traders, i try to learn about your mistakes in the past (I mean James wrote, he broke his account many times before he became profitable). There is a proverb in Hungary: The clever people learn from they own mistakes, the wise learn from somebody else mistake. So, I'll follow exactly James basic rules about the steps, and...
That's awesome Karl. I get very jealous of you new folks who find this material right from the start. Many of us spent years doing our own things lost trying this that and the other LOL

Keep at it your English is better than mine
Mike
  • #121,037
  • Nov 20, 2012 7:50am Nov 20, 2012 7:50am
Quoting patapouer
Hi K,

You may want to have a look at a compilation Chanya did a while ago, explaining his strategy as a "derivative" of Jarroo's.
http://www.forexfactory.com/showthre...38#post5876538
Chanya says it loud enough but it never hurts reminding it.
This file is a pre-digest of HIS understanding of Jarroo's PBT method. In NO WAY should it avoid you looking at every and single chart from Jarroo.

The truth is, you would learn a lot by deciphering Jarroo's charts, working on them until you understand his way of thinking.
The...
Hi Patapouer,

Thanks for the reply. Yes I've gone through the pdf that Chanya prepared, and I tried to study the charts from Jarroo himself as well. IMO, this method would be a great one, with PLENTY of oppurtunities, granted one has to monitor it closely during the first few hours once trade entered, to move the SL to BE or to do MM based on each target levels to avoid losses. This is because of the higher risk of TT without any PA confirmation, but it would definitely give better R:R for the early entries.

IMO, the most important thing in Jarroo's PBT method, and the most crucial part is at the first MM level, which possibly the number 1 factor of why the method always return with AT LEAST BE trades.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #121,038
  • Nov 20, 2012 8:38am Nov 20, 2012 8:38am
Quoting bullzeye
AUD/CHF

unfortunately not a pin but a nice DBHLC on H4, on daily is forming a pin, 50 Fib retrace...

Attachment

Attachment
AUD/CHF

will the TL hold?

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  • #121,039
  • Nov 20, 2012 8:38am Nov 20, 2012 8:38am
Quoting bullzeye
very strong PPZ...also in after this pin ...now go for gap close

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AUD/USD

looks good for the gap close...

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  • #121,040
  • Nov 20, 2012 8:44am Nov 20, 2012 8:44am
NZD/USD

double top, entered after the DBHLC
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