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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

  • #123,201
  • Feb 12, 2013 9:13am Feb 12, 2013 9:13am
Quoting CryAgony
EURCAD H4 setup forming

Good looking Pin with strong close and good wick, at PPZ (zoom out to see this level in action) with BRN+Fibo confluence
The SL would eb a bit wide here but FTA is at 1 RR so looks good enough.

Anybody else on it?
Taken with stop order...
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  • #123,202
  • Feb 12, 2013 9:14am Feb 12, 2013 9:14am
Quoting cloudfx
Hey guys,

I have a decent understanding of the material and I am starting to trade with a very small account to demo, but I would like to ask a couple of questions.
I am trading as well as studying, so I can keep an eye on the charts for the most part of the day.

How many pairs should I start off with, and which ones (So that they are not to correlated)?

How often should I look at my charts if I am going to be trading mostly the 4 hour, or should I just set alerts for the important SnR zones and have a look at the end of the day?

Once...
Hey Cloud

I always suggest firstly daily/weekly only as per the james16 minimum requirements on post 1.

As for amount of pairs I say the more the better. I watch 80+ and maybe you can't watch that much starting out but I often see many new traders watching only 10 or so pairs and that creates a lot of issues in patience and discipline. If we are picky I could go months and months(maybe a year) without finding a decent trade on one pair. So I always think the more pairs the better just be picky and this gives us more to watch.

If you are trading daily weeklies you only need to check your bars once a day and then manage those trades during the day how you see fit. I watch 4hr and under so I have both alarms set at specific areas as well as check my charts each hour as best I can on the bar closes.

I think drawing levels, setting alarms and what not is a great idea and works great for those that can't be as tied to the screen or don't want to be as well. I do a bit of both

Best
Mike
  • #123,203
  • Feb 12, 2013 10:59am Feb 12, 2013 10:59am
Quoting mbqb11
Hey D

Yes I do go through each chart one at a time. I can do it pretty fast though as I have seen enough charts to know when I need to stop. Many charts have clearly nothing going on. I don't like to use a scanner or anything like that I don't believe any can see what my eye can see so I dont trust them

Best
Mike
Mike, thanks for your reply and time. Much appreciated.
  • #123,204
  • Feb 12, 2013 11:09am Feb 12, 2013 11:09am
Watching Gu closely. Looks like false break of weekly triangle at the moment. We will see later. If daily candle would be as a pinbar i will go long, if it closes below triangle trendline i will considet going short.
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  • #123,205
  • Feb 12, 2013 12:08pm Feb 12, 2013 12:08pm
[quote=mbqb11;6439379]
Quote

I think the nzd/cad is mostly just stuck in a huge box. I dont' see much of a H&S anywhere. I would essentially be watching where we are now as well as the steep rising TL for clues myself

Best
Mike
Hi Mike.....I like your nzdcad chart...this is what I'm looking for from a monthly point of view, IF the price will close above your box consolidation. The 0.85 BRN could be the right level to buy it !
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Nothing personal,just business
  • #123,206
  • Feb 12, 2013 4:46pm Feb 12, 2013 4:46pm
Hi guys

What do you think about GBPUSD? Pb nice but .. FTA very close.
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  • #123,207
  • Feb 12, 2013 4:51pm Feb 12, 2013 4:51pm
Quoting long2339
Hi guys

What do you think about GBPUSD? Pb nice but .. FTA very close.
I'm sorry,LCS of course
  • #123,208
  • Edited 5:07pm Feb 12, 2013 4:54pm | Edited 5:07pm
Hi fellas,

Here are a few trades I'm considering. First up is a long trade on AUD/CHF. Charts explains reasons for entry.

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Next up is a short trade on USD/CHF.

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and finally another short trade on USD/CAD




Leaning towards the BEOB on USD/CHF. What do you guys reckon?
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  • #123,209
  • Feb 12, 2013 5:38pm Feb 12, 2013 5:38pm
Quoting long2339
Hi guys

What do you think about GBPUSD? Pb nice but .. FTA very close.
yep I agree L, I think this needs to break hard as well as a tight leash needs to be put on it to the downside(see chart)

Best
Mike
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  • #123,210
  • Feb 12, 2013 5:39pm Feb 12, 2013 5:39pm
Hello all,

I have been diving into forex, and FF has been where I have been spending a lot of my time reading one system or another. I have been playing with some systems with little success(it seems I did better when I was more ignorant and first starting out). After a lot of reading and jumping around I found a suggestion to look at this thread after several people claimed it changed there whole trading career. The strategy pointed out here is what I have been looking for, as it has many points hinted at by several members who seem to know what they are doing. I have read 40 or so pages so far with many more to go, seeing as this thread is now at 8200+ pages, this task does feel a little overwhelming.

With that, I have a few questions, and I apologize in advance as they have probably already been answered already but:
-Is the private forum still active? Are new instructor videos being uploaded still? I see James is no longer active on FF, but Mike I see you are still here in full force, are you still doing instruction videos?
-Price action is where I want to set my focus, and I have just ordered a copy of prings price action book (off Mikes suggestion). My goal is to not so much focus on the patterns alone, but on what the market is saying(as different open/close time for candles will produce different looking candles) is there further reading in addition to this thread that anyone can suggest that strive to show this idea?

Also, I will be starting to demo this method here shortly, and hope to post a few trades to get some feedback. Please excuse some of my noobness as I do so.

Have a great day. Thanks to all of you for helping me learn, even if it wasn't your primary intention.
  • #123,211
  • Feb 12, 2013 5:42pm Feb 12, 2013 5:42pm
Quoting long2339
Hi guys

What do you think about GBPUSD? Pb nice but .. FTA very close.
Good for long, if FTA as barrier is overcome.
  • #123,212
  • Feb 12, 2013 5:57pm Feb 12, 2013 5:57pm
Quoting Kwikchot
Hello all,

I have been diving into forex, and FF has been where I have been spending a lot of my time reading one system or another. I have been playing with some systems with little success(it seems I did better when I was more ignorant and first starting out). After a lot of reading and jumping around I found a suggestion to look at this thread after several people claimed it changed there whole trading career. The strategy pointed out here is what I have been looking for, as it has many points hinted at by several members who seem to know...
Hey K

Welcome to the forum and thread glad to have you

Our group is still very much active as well as we are releasing a new updated website very shortly where James will be returning in full force(he was away dealing with real estate). With that said our forum is still very much active now as well as all the material is never lost and archived.

Prings book is fantastic one of the only books I recommend and you won't be disappointed. I don't really suggest anything else in terms of what I have found very useful(not to say there isn't of course). I know this thread is HUGE but just start slowly after the first few hundred pages you will be more caught up then you think. Certainly the whole thread is not needed but pay particular attention to all of James posts especially. You will also see who elses posts are worth paying attention too as well.

Good to see you start demo smartly and start your business the right way

If you have more questions post up any time

Best of luck
Mike
  • #123,213
  • Feb 12, 2013 5:59pm Feb 12, 2013 5:59pm
Quoting Hiten123
Hi fellas,

Here are a few trades I'm considering. First up is a long trade on AUD/CHF. Charts explains reasons for entry.

Attachment

Next up is a short trade on USD/CHF.

Attachment

and finally another short trade on USD/CAD




Leaning towards the BEOB on USD/CHF. What do you guys reckon?


Hey Hitten

I put a note on one of your charts to clarify the space vs traffic concept I speak about. It's quite crucial in my own trading

Best
Mike
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  • #123,214
  • Feb 12, 2013 6:27pm Feb 12, 2013 6:27pm
Quoting mbqb11
Hey Hitten

I put a note on one of your charts to clarify the space vs traffic concept I speak about. It's quite crucial in my own trading

Best
Mike
cheers Mike. Learn something new every time I visit this thread.
  • #123,215
  • Edited 10:43pm Feb 12, 2013 9:58pm | Edited 10:43pm
Quoting long2339
Hi guys

What do you think about GBPUSD? Pb nice but .. FTA very close.

Hey long

I wouldn't mess with this in the middle of the major consolidation box we have.
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  • #123,216
  • Feb 12, 2013 10:53pm Feb 12, 2013 10:53pm
Thanks for the reply Mike

I will report back once I have made about 20 trades.

Cloud
  • #123,217
  • Feb 12, 2013 11:21pm Feb 12, 2013 11:21pm
Quoting Pinbar
Hey long

I wouldn't mess with this in the middle of the major consolidation box we have.
Yes, I strongly agree with Pinbar.

Is that also called pivot zone?


fxbreeze
  • #123,218
  • Feb 13, 2013 3:56am Feb 13, 2013 3:56am
Quoting fxbreeze
Yes, I strongly agree with Pinbar.

Is that also called pivot zone?


fxbreeze

Yeah, J16 called them Price Pivot Zones because, they are not always pip perfect.
Jarroo, hones in on the non perfect Zones with his HCR & LCS within the zones.
Same thing but, Jarroo has his sniper scope, locked onto them.
  • #123,219
  • Feb 13, 2013 5:07am Feb 13, 2013 5:07am
Quoting mbqb11
yep I agree L, I think this needs to break hard as well as a tight leash needs to be put on it to the downside(see chart)

Best
Mike
hey mike i was looking the same pinbar and i wanna ask you something. i know this a technical forum but how do you treat news? i mean in your post you say (and off course you're right) that if it doesn't break hard it's going to fall but knowing this were you still interested on the BOE inflation report (wich i think caused the bearish break) or you've simply ignored it?
  • #123,220
  • Feb 13, 2013 5:19am Feb 13, 2013 5:19am
I lost that GBPUSD trade as PB triggerd. I think that it could go both ways on the news. It went against.
If not up, then down, otherwise sideways :-)
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