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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

  • #122,381
  • Jan 11, 2013 3:03am Jan 11, 2013 3:03am
Good Morning and a Happy New Year to you folks. Great to see this foundation stone thread chugging along as usual. Did I mention how I have observed a pin bar can often be a head and shoulders formation on a lower time frame, by the way? Is it another of my discoveries that has already been discovered?
Gone to a better place
  • #122,382
  • Jan 11, 2013 3:07am Jan 11, 2013 3:07am
Quoting fxwee
Hi hally and everyone,

This is my first post. Have been studying this thread for 2 months and trying to put everything into practice now.

My thoughts on EURUSD.

EURUSD Weekly, I see multi-top bars forming at the Weekly swing high. Not much trouble zone beyond that point and possible going for 1.35.
I know as a newbie, I should wait for bearish bar at this swing high. So not going to do anything if this breaks.

EURUSD Daily, I see divergence in the MACD and I will be waiting for bearish PA at the top resistance. If really bearish PA,...
Hey Can you upload your big round number indicator? (Yours is much better than mine, thats all ) Thanks!
It's all psychology...
  • #122,383
  • Jan 11, 2013 3:13am Jan 11, 2013 3:13am
Quoting smikester
Good Morning and a Happy New Year to you folks. Great to see this foundation stone thread chugging along as usual. Did I mention how I have observed a pin bar can often be a head and shoulders formation on a lower time frame, by the way? Is it another of my discoveries that has already been discovered?
Yes that's true . .it has been discovered . . The important thing is that you discovered it on your own . .Tells me you are studying charts, my friend .. keep it at, soon you will be discovering other things that only you see . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,384
  • Jan 11, 2013 3:20am Jan 11, 2013 3:20am
Quoting LamerTrader
Hey Can you upload your big round number indicator? (Yours is much better than mine, thats all ) Thanks!
I got it somewhere too. Here you go.
Attached File(s)
File Type: mq4 JRN.mq4   4 KB | 454 downloads
Trade what you see. Not what you think.
  • #122,385
  • Jan 11, 2013 3:26am Jan 11, 2013 3:26am
glad you come back Jarroo love your posts.
all is eternal - this is good news for people who loves bad news
  • #122,386
  • Jan 11, 2013 3:41am Jan 11, 2013 3:41am
Quoting geomink
about Eur/Usd

good thinks are:

confluence (fibo, round number, trendline, 365 ema)

doubts are:

the weekly beob (but at the moment we aren't sure it will be break at the low)

so, what about you, bro?

thx


I'm in from 1,30

just moved my sl @ 1,3240

:-)
Don't give up
  • #122,387
  • Jan 11, 2013 3:44am Jan 11, 2013 3:44am
Quoting meshka
glad you come back Jarroo love your posts.
Right back at you, meshka . .love your charts . .


Quoting jarroo
You're nailing it Meshka . .
EurAud update . .PBT&CA that HCR level . .would have liked it better if it Close Above both levels . .(damn you gaps!!! . . lol)

That Big BUOB didn't hurt . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,388
  • Jan 11, 2013 3:51am Jan 11, 2013 3:51am
Hi Mike,
I´d like to know your opinion on something. There´s 2-day BUOB on yen pairs, I didn´t take this trade because I know that you wrote many times that continuation bars are tricky and we should look for BUOBs at swing lows. So I´d like to know what you think about this setup.

Mav
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  • #122,389
  • Jan 11, 2013 4:04am Jan 11, 2013 4:04am
Quoting jarroo
Mike said it best, Pat . . Fantastic . .
well, thank you so much Jarroo

But it still is the beginning -

- and I would be nowhere if I hadn't find James place. and I would be nowhere without the help and advice that you, Mike, and so many seasoned traders patiently give here.

So all credit goes to the great posters here
Slow & steady
  • #122,390
  • Jan 11, 2013 4:17am Jan 11, 2013 4:17am
Quoting patapouer
well, thank you so much Jarroo

But it still is the beginning -

- and I would be nowhere if I hadn't find James place. and I would be nowhere without the help and advice that you, Mike, and so many seasoned traders patiently give here.

So all credit goes to the great posters here
Thanks Pat . .a lot good people here . .Its how I started . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,391
  • Jan 11, 2013 4:19am Jan 11, 2013 4:19am
Quoting fxwee
I got it somewhere too. Here you go.
Thanks! But I cant add it to my chart - i pasted the file in my experts/indicators folder, and then i try to add - i press ok, and nothing happens. /Though when i right click and then "Indicators", it says your indicator is already on my chart :/ /
It's all psychology...
  • #122,392
  • Edited 5:04am Jan 11, 2013 4:44am | Edited 5:04am
Quoting long2339
Hey

Mike what do you think about this? If closes above the LCS.

Yes that's how I see it long2339


Your colors on your candles are reversed ..

I chose Blue for my Bullish candle . ."B" for Blue (Bullish) . it made sense at the time . .lol

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,393
  • Jan 11, 2013 4:54am Jan 11, 2013 4:54am
Mike, a question for you.
Will you be so kind to share your thoughts or experience when you would hold a possition longer expecting a large move, where you wouldn't take profit at First MAJOR TA. I know that it depends, but anyway.
If not up, then down, otherwise sideways :-)
  • #122,394
  • Jan 11, 2013 5:12am Jan 11, 2013 5:12am
Quoting jarroo
Thanks Pat . .a lot good people here . .Its how I started . .
suggesting I might end up as talented as you ??

Slow & steady
  • #122,395
  • Jan 11, 2013 5:14am Jan 11, 2013 5:14am
Quoting patapouer
suggesting I might end up as talented as you ??


Absolutely . . . a lot of trial and error . . .and finding what works best for you . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,396
  • Jan 11, 2013 5:18am Jan 11, 2013 5:18am
Quoting jarroo
Hey Hally,

Inside bars can be tricky . .just like any PA formation the key to them is were they are located . .meaning are they off a Support or Resistance level? Being this is a 4 Hour IB, I would look for it to be off a Daily or even a Weekly Support or Resistance level and look to trade it away from there.

Jim
hi jim

thanks for the tip. i am looking at this IB in that if it breaks down then it will trade back down towards 1.315 or even 1.30 as that seems to be the range it has been trading in.

if it breaks to the upside i would like to see what happens at 1.33 before i trade it long. i think i would look for it to break 1.33 and then pull back so that the 1.33 level becomes support and then looks like a good spot to go long.

being a newbie i know it will go either up or down - just don't know which way atm!! lol

really appreciate your advice and the other guys in the forum also.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,397
  • Jan 11, 2013 5:25am Jan 11, 2013 5:25am
In my first 2 days of James16 style trading I profited 137 pips and grew my small account by 7.1%!

See you all next week!
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #122,398
  • Jan 11, 2013 5:27am Jan 11, 2013 5:27am
Quoting jarroo
You caught a runner, my friend . . and its running in some nice open Space . .

You can look at some past levels, Highs and Lows (2008) and use them to manage your trade . . Or look for the BRN (95.00) and RNs to manage it. . .meaning look for Price to break through these levels and Close above them and place your S/L under them once they do.

Runners in Open Space . . . this is not a coincidence . .it where Price likes to run . . .Just ask Mike . .


Jim
it seems to be taking a bit of a breather atm. have moved my stop up under the daily pivot and the 3 bar retrace on the 4hr chart. pattern seems to be that it takes a big move up and then takes a breather for the rest of the day. all the yen crosses seem to be showing a similar pattern. atm i have +145 locked in.

cheers

hally
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Learning for Earning and Trading for Freedom
  • #122,399
  • Jan 11, 2013 5:30am Jan 11, 2013 5:30am
Quoting livethedream
In my first 2 days of James16 style trading I profited 137 pips and grew my small account by 7.1%!

See you all next week!
that's awesome. gotta be really happy with that. i am still only trading demo but my demo account has never looked as healthy as it does now since i started reading this thread. last month was profitable and this month is looking very nice too. 1 more profitable month and i might look to start some real trading.

congrats keep up the great work.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,400
  • Jan 11, 2013 5:41am Jan 11, 2013 5:41am
Quoting hally0301
hi jim

thanks for the tip. i am looking at this IB in that if it breaks down then it will trade back down towards 1.315 or even 1.30 as that seems to be the range it has been trading in.

if it breaks to the upside i would like to see what happens at 1.33 before i trade it long. i think i would look for it to break 1.33 and then pull back so that the 1.33 level becomes support and then looks like a good spot to go long.

being a newbie i know it will go either up or down - just don't know which way atm!! lol

really appreciate your advice...
Hey Hally ..Looking at the Weekly it appears the Euro is shifting to more of an uptrend mode. . .I do like that 1.3115 which is a Weekly Daily level of Support now . .

Its hard to say . .If Price continues to Close above and respect/hold these levels of Support we could be going higher.
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Indicators show the past. Price Action "Indicates" the future.
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