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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

  • #122,261
  • Jan 9, 2013 3:26pm Jan 9, 2013 3:26pm
Quoting Rust
Well i can't say what's best for you, but one option is to expand the markets you watch. Mike watches 3000 stocks as overwhelming as it sounds!
Other option - some brokers offer guaranteed stop, but it comes at a price.

I'm not saying that trading profitable is impossible, having a full time job at the same time. But at least if your idea is to make money and not just having fun, it's a time consuming business. I believe it's good to have that in mind
I absolutely agree that trading profitably while you are a full time employee is possible and realistic and yes of course serious trading requires quite a lot of time.
You mentioned INTRADAY trading for cfd-s, stocks etc and I just wanted to say trading between daily market opens and closes or any type of daytrading is too difficult for me because of daily "working schedule". So I am able to trade correctly onle daily, weekly and monthly TF.

But anyway thanks for the advice very much.
  • #122,262
  • Jan 9, 2013 3:38pm Jan 9, 2013 3:38pm
How do I check my PMs?? . .Have I been gone that long . .damn . .

Oh wait . . there they are . .


What's up gang . . .?


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,263
  • Jan 9, 2013 3:40pm Jan 9, 2013 3:40pm
Quoting meshka
I am working whole day too(and even more... often I work till late night). I am using 4H Daily Weekly charts...mainly Daily. its quite enough believe me. Main my tradingwork is at midnight / i am in East Europe/. It takes me about 20-30 min to decide in which pairs I am interested. Then I post pending orders and go sleep. Next day I watch outcome of my midnight work every 4 hours through my mobile application -it takes 5min or less, and sometimes sit to my PC for few minutes when I have time to do that. Of course I am my own boss so my case maybe...
Thanks Meshka, I understand what you mean and I do very similarly. However I don't trade H4 TF becuse as you also said watching the charts and positions in every 4 hours at daytime cannot be avoided.
And yes if you are your own boss and you do your own businesses this is a not a problem.

But when I am an employee saying to my boss 2-3 times a day in working time that: "Go away now I need some minutes to check my positions "
So this is a bit more complicated .

However watching a lot of other equities, cfd-s, stocks, etc on weekly chart as mike offered can bring me lot of new trading positions.

Anyway thank you very much for your advice it is good to see I found a helpful and cooperative society on this forum.
  • #122,264
  • Jan 9, 2013 4:20pm Jan 9, 2013 4:20pm
Welcome Back!

Quoting jarroo
How do I check my PMs?? . .Have I been gone that long . .damn . .

Oh wait . . there they are . .


What's up gang . . .?


Jim
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #122,265
  • Jan 9, 2013 4:22pm Jan 9, 2013 4:22pm
Quoting shephrd
Welcome Back!
Hey Shep . .good to see you bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,266
  • Jan 9, 2013 4:26pm Jan 9, 2013 4:26pm
Hey guys

What do you think about this?
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  • #122,267
  • Jan 9, 2013 4:35pm Jan 9, 2013 4:35pm
Quoting long2339
Hey guys

What do you think about this?

We may be in for more upward movement . .Strong Close above a previous Support level ..acted as great Resistance when Price Closed below it,
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Indicators show the past. Price Action "Indicates" the future.
  • #122,268
  • Jan 9, 2013 4:37pm Jan 9, 2013 4:37pm
Quoting jarroo
We may be in for more upward movement . .Strong Close above a previous Support level ..acted as great Resistance when Price Closed below it,

Its nice picking Weekly Highs and Lows . . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,269
  • Jan 9, 2013 5:17pm Jan 9, 2013 5:17pm
Quoting meshka
My sell order trigered on EURAUD. hope NFP will not spoil it

You're nailing it Meshka . .
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Indicators show the past. Price Action "Indicates" the future.
  • #122,270
  • Jan 9, 2013 5:21pm Jan 9, 2013 5:21pm
Quoting meshka
nice reaction of Gold here...
Bammm! Baby . .
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Indicators show the past. Price Action "Indicates" the future.
  • #122,271
  • Jan 9, 2013 5:26pm Jan 9, 2013 5:26pm
Quoting jarroo
Its nice picking Weekly Highs and Lows . . .
It is an experience!

Many thanks
  • #122,272
  • Jan 9, 2013 5:27pm Jan 9, 2013 5:27pm
Quoting nwo-trader
Mikes theme song lol

I like big bars and I cannot lie
You other j16 brothers can't deny
That when a big bar prints with a lot space
With a long tail on a retrace
You get sprung
lollllllll . . love it . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,273
  • Jan 9, 2013 5:29pm Jan 9, 2013 5:29pm
Quoting long2339
It is an experience!

Many thanks
It is a cool feeling
Indicators show the past. Price Action "Indicates" the future.
  • #122,274
  • Jan 9, 2013 5:44pm Jan 9, 2013 5:44pm
Hi,

Nice summery you made - I would like to add, that charts seems to get more and more noisy, more and more information needs to be analysed.
Here are some of my charts - a new type of curve fit for noise free charts. Left charts are constructed charts, right are the instrument chart.

http://i47.tinypic.com/1035qih.jpg

http://i47.tinypic.com/1zqfpr7.jpg

http://i46.tinypic.com/2m33el3.jpg
  • #122,275
  • Jan 9, 2013 5:54pm Jan 9, 2013 5:54pm
Quoting auto_trader
Hi,

Nice summery you made - I would like to add, that charts seems to get more and more noisy, more and more information needs to be analysed.
Here are some of my charts - a new type of curve fit for noise free charts. Left charts are constructed charts, right are the instrument chart.
Currently, the Euro is stuck between these two Weekly Highest Close of Resistance levels . .

When Price Closes outside one of these levels on the Daily and/or Weekly, it should give us an indication on where Price could be heading.
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Indicators show the past. Price Action "Indicates" the future.
  • #122,276
  • Jan 9, 2013 6:13pm Jan 9, 2013 6:13pm
Quoting jarroo
Currently, the Euro is stuck between these two Weekly Highest Close of Resistance levels . .

When Price Closes outside one of these levels on the Daily and/or Weekly, it should give us an indication on where Price could be heading.
Maybe this? Let's see what happens

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I don't need easy. I just need possible.
  • #122,277
  • Jan 9, 2013 6:23pm Jan 9, 2013 6:23pm
Quoting Pinbar
Sounds good.

Still has yet to hit it's target 1 of the close of the weekly PBT&CB candle, as they often do.
Even, in the face of that weekly BUEOB.

Let's see if it does.

Hey Steve . .

Nice charts . .

I don't use the Close of a price bar as a target . .I will use HCR/LCS levels as targets . as well as previous Highs and Lows as targets as James16 teaches.

Nice Weekly levels and Weekly Close Confirmation . .and it hit some good targets . . .its a nice trade . .

The Swissy sure looks to be itching to go higher . .Let's see if it Closes above these levels . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,278
  • Jan 9, 2013 6:54pm Jan 9, 2013 6:54pm
Quoting DaGrizlyBull
Maybe this? Let's see what happens

Attachment
Yes DGB . .if we are heading downtown those are key levels . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,279
  • Jan 9, 2013 6:56pm Jan 9, 2013 6:56pm
Quoting jarroo
Hey Steve . .

Nice charts . .

I don't use the Close of a price bar as a target . .I will use HCR/LCS levels as targets . as well as previous Highs and Lows as targets as James16 teaches.

Nice Weekly levels and Weekly Close Confirmation . .and it hit some good targets . . .its a nice trade . .

The Swissy sure looks to be itching to go higher . .Let's see if it Closes above these levels . .


Jim
Thanks Jim

Yeah, it was a pretty setup.


For some reason, I had the impression that, you were also using the Low & Close of the weekly candle that CB or Above.
Not sure, how I came to this conclusion.
I do remember you saying you were using the Daily HCR or LCS as targets though, just thought you were also using the breakthrough and close candles.
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  • #122,280
  • Jan 9, 2013 7:05pm Jan 9, 2013 7:05pm
Quoting Pinbar
Thanks Jim

For some reason, I had the impression that, you were also using the Low & Close of the weekly candle that CB or Above.
Not sure, how I came to this conclusion.
I do remember you saying you were using the Daily HCR or LCS as targets though, just thought you were also using the breakthrough and close candles.

Using HCR / LCS levels are great "take full profit targets" because they will give a stronger reaction when they are hit.

I'm not saying you can't use the Close of a Price bar as a target .its not a bad way to go to to make sure you take profit . .meaning . ."OH No I missed my Daily Low target by 2 pips . .aggrrrrr" but if you used the Close of the Price bar . .target hit. Its up to the individual trader to what works for them . as you know . .
Indicators show the past. Price Action "Indicates" the future.
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