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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

  • #123,901
  • Mar 17, 2013 11:26pm Mar 17, 2013 11:26pm
Quoting jarroo
Sorry for all the mistypes . . . I updated this post a few times . .I'm all thumbs . .

No problem Jim, it gets complicated juggling photos and viewing posts.

I think, I shall stick to the daily, and just demo these recent areas of consolidation and swing Highs & Lows.

Meshka does not have this same problem with identifying levels and I am trying to work out, how his way of looking at the Daily is different from mine.
His charts are always so simple.

Meshka if you have any input on this, it would be appreciated.

Once again, sorry for the headaches.
  • #123,902
  • Mar 17, 2013 11:32pm Mar 17, 2013 11:32pm
Quoting Pinbar
No problem Jim, it gets complicated juggling photos and viewing posts.

I think, I shall stick to the daily, and just demo these recent areas of consolidation and swing Highs & Lows.

Once again, sorry for the headaches.
No problem Steve . .

Your NzdUsd trade was great . . How far back did you really have to go? . . . .just to that Open Spaced LCS ..

Sure, we were trading back into consolidation and that can be tricky with alot of targets to choose from . . but a solid technical S/R trade in my book . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #123,903
  • Mar 17, 2013 11:41pm Mar 17, 2013 11:41pm
Quoting jarroo
No problem Steve . .

Your NzdUsd trade was great . . How far back did you really have to go? . . . .just to that Open Spaced LCS ..

Sure, we were trading back into consolidation and that can be tricky with alot of targets to choose from . . but a solid technical S/R trade in my book . .


Jim

Thanks Jim

Yes, it was a recent SL.

Maybe this is what I need to work on instead of trying to curve fit an area way in the past to price.
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  • #123,904
  • Mar 18, 2013 1:24am Mar 18, 2013 1:24am
These gaps are ruining my life. How would you guys go about with these? How do they influence your trading?
  • #123,905
  • Mar 18, 2013 4:04am Mar 18, 2013 4:04am
Quoting inditrader
120 Pips locked for the remaining position.

Attachment

GU - Adding to the winner.

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Some great opportunities

EU

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EJ

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Regards Inditrader
  • #123,906
  • Mar 18, 2013 4:07am Mar 18, 2013 4:07am
Quoting Pinbar
Good idea, it is Friday and people take profit and close their trades to prevent paying the rollover.
Update on GBP/CHF trade : Stopped out for 28 pips on Friday. Of course most of the pairs behaved very unusual on Fri.
Regards Inditrader
  • #123,907
  • Mar 18, 2013 6:21am Mar 18, 2013 6:21am
Damn, missed my buy limit by 0.2 pips. Haa
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  • #123,908
  • Mar 18, 2013 8:04am Mar 18, 2013 8:04am
Quoting Flamegs23
These gaps are ruining my life. How would you guys go about with these? How do they influence your trading?
Hey F

What do you mean they ruin your life? Were you in trades, or you just don't know how to react with them?

Best
Mike
  • #123,909
  • Mar 18, 2013 10:49am Mar 18, 2013 10:49am
this was my favorite gap to play back to the close. Price gapped into a strong area of support(box) and a larger pattern of a channel.
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  • #123,910
  • Mar 18, 2013 12:07pm Mar 18, 2013 12:07pm
It ought to be by Providence that I came across this thread, which as Jim said, was NEVER publicized, by choice.

I started with Post #1, slowly, & was thrilled by what I read. However, the thread is huge, with 123,930 posts in 8,262 pages!!! Not to mention lots of varying views & comments along the way which tend to distract & confuse beginners like me.

Could some kind souls here please tell me if there is a place in this thread where Jim's basic materials, without the variations, are all put together & where I can proceed to read & start to learn the method (as Jim put it, it's not a system)?

Thank you & God bless!

Bliss
  • #123,911
  • Mar 18, 2013 12:24pm Mar 18, 2013 12:24pm
Quoting bliss
[font=Microsoft Sans Serif]It ought to be by Providence that I came across this thread, which as Jim said, was NEVER publicized, by choice.

I started with Post #1, slowly, & was thrilled by what I read. However, the thread is huge, with 123,930 posts in 8,262 pages!!! Not to mention lots of varying views & comments along the way which tend to distract & confuse beginners like me.

Could some kind souls here please tell me if there is a place in this thread where Jim's basic materials, without the variations, are all put together & where...
Hi bliss,
welcome to the thread. Usually it´s good to go through first and last few hundred of pages. I also suggest going through summaries posted on the first page, James posts and Mike´s (mbqb11) charts. I think this is a good start. Also check guest section on PF (http://www.james16group.us/), there are some interesting videos. As you´ll read this thread you´ll find out whose posts are useful for you as a trader and your style.

Mav
  • #123,912
  • Mar 18, 2013 1:02pm Mar 18, 2013 1:02pm
Quoting bliss
[font=Microsoft Sans Serif]It ought to be by Providence that I came across this thread, which as Jim said, was NEVER publicized, by choice.

I started with Post #1, slowly, & was thrilled by what I read. However, the thread is huge, with 123,930 posts in 8,262 pages!!! Not to mention lots of varying views & comments along the way which tend to distract & confuse beginners like me.

Could some kind souls here please tell me if there is a place in this thread where Jim's basic materials, without the variations, are all put together & where...
welcome to the thread Bliss, glad to have you

Mav gave you a good suggestion. Pay close attention to Post 1 and then make your way through the first few hundred pages. After that you will be more caught up then you might expect as well as then pay particular close attention to James16 posts/charts. You can click a username and find each of their posts individually

Best of luck
Mike
  • #123,913
  • Mar 18, 2013 1:03pm Mar 18, 2013 1:03pm
Some pips in progress

Edit: of course I do not trade without stops. The 2 charts in which you see no stops - I am in the porcess of moving to BE.

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Regards Inditrader
  • #123,914
  • Mar 18, 2013 1:11pm Mar 18, 2013 1:11pm
Quoting inditrader
GU - Adding to the winner.

Attachment

Some great opportunities

EU

Attachment

EJ

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Covered EU for 80 pips. Do not want to fight with BRN 3000. Next take on this pair will be only after FOMC clouds get cleared.
Regards Inditrader
  • #123,915
  • Mar 18, 2013 1:43pm Mar 18, 2013 1:43pm
Thank you Mav & Mike. As I move along, please bear with me when I need to seek clarifications, esp if my questions shd sound silly.

For starters, I was looking at the charts in Post #2, 3 & 5. I believe I cld understand the setups shown there, but am not sure about the entry points, the initial & subsequent stop losses, exit points with profit......

Also, what are the uses or significance of the lines that appear to be moving averages? Are they SMAs or EMAs? What are the periods? 21, 79 & 365? What about the 4th MA?

Three of them seem to be the fastest MA with envelopes. What are the parameters?

Thx & God bless!

Bliss
  • #123,916
  • Mar 18, 2013 1:54pm Mar 18, 2013 1:54pm
Hmm, Jarroo what do you think about simple setups like this one?

Not too much space but, a lot of confluence.
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  • #123,917
  • Mar 18, 2013 2:59pm Mar 18, 2013 2:59pm
Quoting bliss
Thank you Mav & Mike. As I move along, please bear with me when I need to seek clarifications, esp if my questions shd sound silly.

For starters, I was looking at the charts in Post #2, 3 & 5. I believe I cld understand the setups shown there, but am not sure about the entry points, the initial & subsequent stop losses, exit points with profit......

Also, what are the uses or significance of the lines that appear to be moving averages? Are they SMAs or EMAs? What are the periods? 21, 79 & 365? What...
Hey Bliss

THere are many ways to enter most bar setups

For those first few charts we are speaking about a TBL(two bar low) or TBH(two bar high)

These are taken on the break of the multi high/low. So if you have two matching lows like in the first chart your sell order would go under that order. Your stop loss much like you will see with entries can also vary. To keep things basic when starting, start with your stop loss on the other side of the bar you are trading.

So in chart one I have marked your entry and stop loss.

Exits are going to be variable as well depending on the trader as you see when you get deeper into this thread. For now I suggest focus on learning to spot these setups and getting familiar with the basics.

Don't worry about the MAs too much. As you continue to work through the thread you will see a lot of these basic questions addressed as they arise with other new traders. Most traders here that follow James use the larger 150 and 365 emas. The faster EMAs are generally part of another method that is more detailed and you shouldn't worry about right now

Hope this helps
Mike
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  • #123,918
  • Mar 18, 2013 3:44pm Mar 18, 2013 3:44pm
Quoting mbqb11
this was my favorite gap to play back to the close. Price gapped into a strong area of support(box) and a larger pattern of a channel.
Thank you Mike. I place order with EURGBP gap. Thank you for sharing the support box and channel, I didn't know about that. Will go and check mine.

Merry
  • #123,919
  • Mar 18, 2013 4:41pm Mar 18, 2013 4:41pm
Evening all,

Can I ask the elders what they think of this touch trade? I'm not used to touch trading, but thought this looked good.

Price broke the trend line and might come down to retest the TL which intersects with the BRN. TP would be the main trouble area. SL below the breakout bar low.

Many Thanks
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  • #123,920
  • Mar 18, 2013 4:47pm Mar 18, 2013 4:47pm
Quoting pip_la
Evening all,

Can I ask the elders what they think of this touch trade? I'm not used to touch trading, but thought this looked good.

Price broke the trend line and might come down to retest the TL which intersects with the BRN. TP would be the main trouble area. SL below the breakout bar low.

Many Thanks
Hey Pip

I don't touch trade often myself either but I like your confluence here. I will sure be watching for PA

I added the rising TL in which will be even better if as we progress down(if we do) price moves into this TL at the same time as your descending and BRN

Now that's how we do it

Mike
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