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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

  • #122,041
  • Jan 2, 2013 3:33am Jan 2, 2013 3:33am
Quoting mbqb11
welcome Hally

I would be waiting now myself maybe down further towards the 8000 mark as well myself

But did you see that BIG huge beob at a nice clean swing high. I know end of the year I wouldn't be trading but this stuff works whever


Again welcome to the thread
Mike
Hi Mike

Thanks for the welcome. Have to admit I missed seeing the BEOB at the high until you mentioned it. Agree that 8000 would seem a logical kind of turning point. There is also a 50 FIB level just below 80 calculated from turning point of downtrend in July and 200 EMA is sitting just above so seems like lots of support. I'm watching it just to see how the price action plays out.

Again thanks for the welcome. Learning so much from this free thread. Hoping to sort out a membership for the PF in the next couple of weeks once the Christmas bills are out of the road.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,042
  • Jan 2, 2013 3:39am Jan 2, 2013 3:39am
Quoting mbqb11
Hey Hun

Don't let a FTA necessarily keep you out of a good bar/trade/story. A FTA is simply information with which we can then make more decisions with. Of course it will depend on the trader, but I don't tend to just take profit or go to B/E at a FTA. Generally I look to reduce my risk around FTAs which then can keep us in a trade as well as let our profits run a bit more and reduce our risk(most important).

Here is a chart of how one could of proceeded with this(again being a holiday is enough to stay sidelined for me but still(

Best
mike...
Hi Mike

Maybe this is a really newbie question but can I ask what an FTA is? I wouldn't have looked to trade that BEOB given that is against the underlying trend of the market. My plan is to look for some price action confirmation to trade long at 81 or 80 depending on how far this correction runs.

Cheers

hally
Learning for Earning and Trading for Freedom
  • #122,043
  • Jan 2, 2013 3:54am Jan 2, 2013 3:54am
Thanks Mike, i'll remember this trade!
Quoting Pinbar
Thanks Mike but, it was not for me, that person wanted a view of it.
As, I can not see what is going on, on the Monthly & weekly, it is hard to say.

However, I would not like to trade right into the bottom of this consolidation box, it just broke out of.

Massive RH&S though. Just not my thing at all.
  • #122,044
  • Jan 2, 2013 4:49am Jan 2, 2013 4:49am
Quoting hally0301
Hi Mike

Maybe this is a really newbie question but can I ask what an FTA is? I wouldn't have looked to trade that BEOB given that is against the underlying trend of the market. My plan is to look for some price action confirmation to trade long at 81 or 80 depending on how far this correction runs.

Cheers

hally
FTA = first trouble area

Click on the links at the bottom of Pinbar's posts. Great posts to get caught up on the terminology and the basics.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,045
  • Jan 2, 2013 4:53am Jan 2, 2013 4:53am
Quoting rolo1128
FTA = first trouble area

Click on the links at the bottom of Pinbar's posts. Great posts to get caught up on the terminology and the basics.
Hi Rolo

Thanks for the info. I'll check out the links in Pinbar's posts as well.

hally
Learning for Earning and Trading for Freedom
  • #122,046
  • Jan 2, 2013 5:22am Jan 2, 2013 5:22am
Happy new year friends!
Wish you many pips and good trades!

Cheers
  • #122,047
  • Jan 2, 2013 5:33am Jan 2, 2013 5:33am
Hi All

Does anyone know of a good MT4 indicator for adding pivots to my charts. Esp interested in weekly/monthly pivots.

thanks

hally
Learning for Earning and Trading for Freedom
  • #122,048
  • Jan 2, 2013 5:56am Jan 2, 2013 5:56am
thanks for your help mike, im reading pring on price patterns you mentioned in your video - i like it, its not too heavy which is great for anyone who hasnt got alot of study time.


Quoting mbqb11
Hey TC

Welcome, we were all beginners too

The first thing that jumps out at me for someone new is that this beob is down at a swing low. We want to learn them up at swing high points first as taught by James

Let me know if that makes sense
Mike
my name is tom and i like crayons
  • #122,049
  • Jan 2, 2013 9:34am Jan 2, 2013 9:34am
Thanks Steve/ Mike,

Mike , when you have time can you or anyone give us your take on that chart for what you think is the areas for FTA, PA etc?

Thanks

Regards

V
  • #122,050
  • Jan 2, 2013 9:43am Jan 2, 2013 9:43am
Quoting Emporia
Hello Fellow James 16 Traders,

I just joined the private forum and am working my way through all of the material.

I am a little confused about a few things though...

1: There seem to be many systems but on here you are just really trading the price action at key s&r levels is that right? You don't trade the moving average setups? I am actually more comfortable with this as I understand support and resistance well and getting into MA systems I feel would complicate things for me.

2: I can see lots of setups mainly from the weekly charts...
Hey Emporia

Post up in the private side when you have questions if you want quicker answers from instructors. It was just slow cause it was the holidays and new year. You will see it pick up and quick.

Here are my answers to your questions though

1. Their are many different ways to put the material together. IN the private side we have different instructors who put the material together in their own ways. The concepts we all use are generally the same though it's just how we all put that together. This is why each instructor has their own section. For example I trade purely price without MAs or anything and show you my methods in my section. Other instructors do the same.

2. I generally am very picky myself. If one week a bunch of setups occur I like to limit myself so as not to over expose myself too too much risk or one specific idea

see ya inside

Mike
  • #122,051
  • Jan 2, 2013 9:55am Jan 2, 2013 9:55am
Quoting rolo1128
FTA = first trouble area

Click on the links at the bottom of Pinbar's posts. Great posts to get caught up on the terminology and the basics.
thanks buddy

Happy new year

Mike
  • #122,052
  • Jan 2, 2013 9:55am Jan 2, 2013 9:55am
Quoting Rust
Happy new year friends!
Wish you many pips and good trades!

Cheers
Same to you Rust, look forward to your continued progress in the new year

Mike
  • #122,053
  • Jan 2, 2013 10:02am Jan 2, 2013 10:02am
Quoting tc640
thanks for your help mike, im reading pring on price patterns you mentioned in your video - i like it, its not too heavy which is great for anyone who hasnt got alot of study time.
Yep it's a great book TC and the only actual technical book that I even recommend to people(and I have read a lot of them).


Best
Mike
  • #122,054
  • Jan 2, 2013 10:15am Jan 2, 2013 10:15am
cable rejecting upward move. if it will close below blue res line i will sell it tommorow.

already sold EURUSD today. will wait what happen next.
Attached Image (click to enlarge)
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all is eternal - this is good news for people who loves bad news
  • #122,055
  • Jan 2, 2013 10:25am Jan 2, 2013 10:25am
oh baby..i've been waiting for a long...long time for these kind of setups.

If it would close just below the open below 1.6300..it looks perfect. The nose of the pin is just more than enough for a pinocchio bar.

The only problem is that there seems to be very little space to the left!

Attached Image (click to enlarge)
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  • #122,056
  • Jan 2, 2013 10:35am Jan 2, 2013 10:35am
as an aside, does anybody know how to make the forum fit fully into my wide screen monitor? i cant seem to find the options.
  • #122,057
  • Jan 2, 2013 10:48am Jan 2, 2013 10:48am
Quoting fascist
as an aside, does anybody know how to make the forum fit fully into my wide screen monitor? i cant seem to find the options.
I don't think that's possible.
  • #122,058
  • Jan 2, 2013 11:12am Jan 2, 2013 11:12am
Quoting fascist
as an aside, does anybody know how to make the forum fit fully into my wide screen monitor? i cant seem to find the options.
i see only option ctrl + mouse scroll (in new mozilla firefox this has no effect on other websides so you can zoom only this forum and the effect should be something you want)
  • #122,059
  • Jan 2, 2013 11:30am Jan 2, 2013 11:30am
Quoting hally0301
Hi All

Does anyone know of a good MT4 indicator for adding pivots to my charts. Esp interested in weekly/monthly pivots.

thanks

hally
Hi Hally,

I use AutoPivotIndicator. You can set it to Daily, Weekly, Monthly Pivots, or all together.

Attached File(s)
File Type: zip AutoPivotIndicator.zip   13 KB | 584 downloads
"Fail to prepare, prepare to fail."
  • #122,060
  • Jan 2, 2013 11:33am Jan 2, 2013 11:33am
Quoting fascist
oh baby..i've been waiting for a long...long time for these kind of setups.
Is that Mike's family pitbull I see?
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