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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

  • #122,941
  • Feb 1, 2013 9:19am Feb 1, 2013 9:19am
Quoting mbqb11
Hey Rolo

Normally my trading consists of full bar stops. The times I use a tight stop I always reduce my risk. This tends to me from a half to a quarter of my normal risk. So I risk 2% on full bar stops, then for other plays like wick/touch trades that I do I risk from .5-1%. This is because I lose a lot of flexibility on trade mgmt

Best
Mike
Thanks Mike! I like the idea of having full bar stops and then having the flexibility to adjust immediately or not.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,942
  • Feb 1, 2013 9:19am Feb 1, 2013 9:19am
Quoting Aretes
Hi there, may i know what kind of pivot points zone is james16 using in all these charts inside the pdf? thank you!
Hey Aretes

PPZ are flips b/w support and resistance. Check out this link to get you started

http://www.forexfactory.com/showthre...16#post2252116

Best
Mike
  • #122,943
  • Feb 1, 2013 9:25am Feb 1, 2013 9:25am
Am I just hallucinating and seeing things or are they really there? O.o
AUD USD
TL Blue - on 4H, and major daily TL (red). Now I think I tend to understand now why you always say to wait for a retest: In 4H the red trend was broken, but corrected immediately, so on daily we see a nice wick.
But the question remains: Whats gonna happen now? Sniper loaded!

Im watchin you!

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It's all psychology...
  • #122,944
  • Feb 1, 2013 9:33am Feb 1, 2013 9:33am
Quoting LamerTrader
Am I just hallucinating and seeing things or are they really there? O.o
AUD USD
TL Blue - on 4H, and major daily TL (red). Now I think I tend to understand now why you always say to wait for a retest: In 4H the red trend was broken, but corrected immediately, so on daily we see a nice wick.
But the question remains: Whats gonna happen now? Sniper loaded!

Im watchin you!

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You're latching onto things really well.Stephen!

Good job

g
I believe . . .
  • #122,945
  • Feb 1, 2013 10:07am Feb 1, 2013 10:07am
hi guys,
I have a question for you.

I'm the only one that is not making a killing with this movements on different paris? I made hundreds pips this month but I cry when I watch such amazing moves and not making a mountain of pips. I would like to know from the pro traders here if they are on some of this medium-term moves (yen and gbp pairs), if not I'd be sorry but I'd not feel better as trader
  • #122,946
  • Feb 1, 2013 10:38am Feb 1, 2013 10:38am
Quoting canados
hi guys,
I have a question for you.

I'm the only one that is not making a killing with this movements on different paris? I made hundreds pips this month but I cry when I watch such amazing moves and not making a mountain of pips. I would like to know from the pro traders here if they are on some of this medium-term moves (yen and gbp pairs), if not I'd be sorry but I'd not feel better as trader
not in any of them C, and I could care less. I mean that sincerely. One of the most dangerous lines of thinking is fear of missing, upset at missing any moves period. It is ONLY about the times you decide to enter the market. That is greeds ugly head creeping up. And it will end up killing many a accounts out there when it's done.

Stick to what works, be patient, let the market do its thing. Their will always be big moves, sideways markets, it's the same thing over and over.

Hope that reassures you
Mike
  • #122,947
  • Feb 1, 2013 10:49am Feb 1, 2013 10:49am
Quoting mbqb11
not in any of them C, and I could care less. I mean that sincerely. One of the most dangerous lines of thinking is fear of missing, upset at missing any moves period. It is ONLY about the times you decide to enter the market. That is greeds ugly head creeping up. And it will end up killing many a accounts out there when it's done.

Stick to what works, be patient, let the market do its thing. Their will always be big moves, sideways markets, it's the same thing over and over.

Hope that reassures you
Mike
You are totally right, mbqb11, thank you for your words. The group changed my life because Jim has shown me the right path some years ago. I'm happy because I see the light, and I'm already walking trough it, and I have a golden luggage of trading knowledge. Now I need to make the next important step in order to improve my results: become more patient and less stress when I see missed moves
  • #122,948
  • Feb 1, 2013 11:05am Feb 1, 2013 11:05am
Quoting canados
You are totally right, mbqb11, thank you for your words. The group changed my life because Jim has shown me the right path some years ago. I'm happy because I see the light, and I'm already walking trough it, and I have a golden luggage of trading knowledge. Now I need to make the next important step in order to improve my results: become more patient and less stress when I see missed moves
  • #122,949
  • Feb 1, 2013 11:57am Feb 1, 2013 11:57am
Quoting CryAgony
Hey guys!

What do you all think about GBPAUD ? Today it approached a ppz and got rejected, forming a Pin on H4.
D1 confluences: close to 150 ema+fibo retr+ppz

I entered at the break of the h4 pin low.
I'm going to move to BE if price closes below 1.52 LCS
I'm a newby here and that's the best pin setup I've seen thus far, in my couple of weeks trading. As evidenced by the price drop thereafter.
How can we alert each other more timeously to these setups???

Good spot!
  • #122,950
  • Feb 1, 2013 12:13pm Feb 1, 2013 12:13pm
Is the James16 Group website still active and accepting new members?

Thanks guys.
  • #122,951
  • Feb 1, 2013 12:47pm Feb 1, 2013 12:47pm
Hi!

GBPAUD - I entered on 4h outside bar from quite strong resistance (previous support), caught great move, already +150pips. I already moved my stop... Mike, would you take full profit somewhere here, or would you wait for test of 1.5000 BRN (previous resistance level too) ?

Thanks for reply,
Nejc
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  • #122,952
  • Feb 1, 2013 12:50pm Feb 1, 2013 12:50pm
Quoting lancedes
Is the James16 Group website still active and accepting new members?

Thanks guys.
Hey got same question, I would like to add, I read soon ago they are making a new website, should I wait to register to J16 group until the website is done?
Any idea on how long until it will be ready?
Thanks.
  • #122,953
  • Feb 1, 2013 1:17pm Feb 1, 2013 1:17pm
Quoting Armagedoom
Hey got same question, I would like to add, I read soon ago they are making a new website, should I wait to register to J16 group until the website is done?
Any idea on how long until it will be ready?
Thanks.
Hey Guys

Yep we are still very active. We are very close to launching our new site. I don't want to give a specific date, but it's right around the corner. It will not lose any content that we have kept for nearly a decade now, but it will be up to date, easier to use, and overall a better experience for everyone

If you gives have more questions shoot me a message

Best
Mike
  • #122,954
  • Feb 1, 2013 1:19pm Feb 1, 2013 1:19pm
Quoting nejcb1
Hi!

GBPAUD - I entered on 4h outside bar from quite strong resistance (previous support), caught great move, already +150pips. I already moved my stop... Mike, would you take full profit somewhere here, or would you wait for test of 1.5000 BRN (previous resistance level too) ?

Thanks for reply,
Nejc
Hey Nejc

What a trade! Well done.

Yes I would be looking to take profit or lock in the majority as we near the BRN. Check out the weekly wedge too so we have a lot of confluence coming in here(I'd always prefer to get back in again if we breakout and have PA)

Nicely done !

Mike
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  • #122,955
  • Feb 1, 2013 4:25pm Feb 1, 2013 4:25pm
Hi!

I want to ask for help, because i am very new to trading and don't know if i made a good trade or not. The orange is a monthly trendline. I get in, because there is a hummer right in the trendline, and then there are three candles that indicates bullish market. Was it a good idea?
https://lh3.googleusercontent.com/-n...g_pattanas.jpg
  • #122,956
  • Feb 1, 2013 4:28pm Feb 1, 2013 4:28pm
My second trade is simillar, but it is a sell. The orange again the monthly trendline.

Thank you,
elekadammate

https://lh6.googleusercontent.com/-4...t_pattanas.jpg
  • #122,957
  • Feb 1, 2013 7:54pm Feb 1, 2013 7:54pm
Quoting Pinbar
Are we going back to test 1.5800?
We certainly did.
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  • #122,958
  • Feb 1, 2013 9:19pm Feb 1, 2013 9:19pm
Hi guys,

I need your advice on this breakout.

On the daily, there's only an indecision bar. However, in the 4 Hour chart, we can see a pinbar touching the high of the previous false breakout.

Should we trade the break of the pinbar or wait for a PA at the top of the box (144.28)?

Thank you!

Cheers
Kenny
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  • #122,959
  • Feb 1, 2013 10:54pm Feb 1, 2013 10:54pm
Here are some other charts that I find interesting.

The first chart:

A pin bar formed at the bottom of the box and close within the box. The location of the pin bar creates space for price to move upwards (around 100+ pips) before reaching FTA. I'll go long at the break of the 0.95 BRN.

What is your view on this?

The second chart:

I'm confuse of what to expect from this pair. The price have broke through the monthly LLS. What should we expect price to do?
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  • #122,960
  • Feb 1, 2013 11:49pm Feb 1, 2013 11:49pm
Quoting ken.b
Hi guys,

I need your advice on this breakout.

On the daily, there's only an indecision bar. However, in the 4 Hour chart, we can see a pinbar touching the high of the previous false breakout.

Should we trade the break of the pinbar or wait for a PA at the top of the box (144.28)?

Thank you!

Cheers
Kenny
Hey Kenny,

Taking a trade straight into a consolidation box is killing yourself for space. Like the release of a coiled spring, breakout from consolidation boxes can be forceful and strong. Given that we have broken out, you might as well want to align yourself with the breakout rather than bet against it based off a mediocre looking bearish pin bar.

My advice to you would be to wait for bullish PA at the pull back to the consolidation box.

g.
I believe . . .
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