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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

  • #131,501
  • Jul 16, 2014 3:16pm Jul 16, 2014 3:16pm
Guys, does anyone know where is James? Why he doesn't write here anymore?
  • #131,502
  • Jul 16, 2014 3:25pm Jul 16, 2014 3:25pm
Quoting zamfir
Hey Mike, I was going to through James's charts from the beginning. I noticed something interesting. HE NEVER TRADED INSIDE BARS. Most of his setups consists of Pinbars and outside bars. My research now has indicated that IB setups can be very unreliable , but at the same time they can be good runners. Did James know that IB setups don't give you the edge and hence he never took them or is there some good criteria about IB that i am missing. What is your opinion on them? I know people have talked about it here in that past posts, but i am not able...
Hey Z

Inside bars for me represent some of the least information that we can get. Remember an inside bar is just a consolidation period within the previous consolidation period. So they will be bars that show up very often as well as like you said can both be very tricky but very rewarding. In my view they are the toughest of bars to play. At this point i'll maybe take one a year or something like that. I'm picky enough but VERY picky when it comes to inside bars. My favorite way to play inside bars is at very strong support or resistance areas. Meaning very very clear areas where price breaks out of that area and pulls back to either sit on the support or breaks down and pulls back to the resistance. THen I want to trade AWAY from that area.

WHat happens to most is they try playing inside bars on say the hourly and they are littered all over the chart. When getting good at spotting great confluence and location they should be added last to ones repertoire in my view. But yes the upside of inside bars are tight stops and large runners. But again it always comes down to the story of any bar we take.

Hope that helps
Mike
  • #131,503
  • Jul 16, 2014 3:26pm Jul 16, 2014 3:26pm
Quoting Nazarm
Guys, does anyone know where is James? Why he doesn't write here anymore?
Hey Naz

James got pretty burnt out and was sidetracked with his real estate for some time now. BUT We've been working on the new site so you're going to see him popping back very very soon(for real soon )

Mike
  • #131,504
  • Jul 17, 2014 5:21am Jul 17, 2014 5:21am
Long term buy setup - UCAD

I do not post here often, but have been waiting for this setup for months..... I cannot post a picture (Will when I get back to the USA). But in the mean time, look at UCAD. Look at Long term month trend line break and retest. Look and lower supporting trend line support met. Look at horizontal resistance now becoming support, look at Fib line retrace just met.

There are so many lines of confluence here on a LONG term monthly chart I am giddy with excitement.

The last time I saw this type of opportunity was when USD/JPY broke the long term downward trend line. Anyway, enjoy guys. Open to comments as well.
Dr. C
  • #131,505
  • Jul 17, 2014 9:20am Jul 17, 2014 9:20am
Agree regarding USDCAD. With respect to inside bars I trade them successfully (approx. 60-63% win rate at 1R). The key is to trade them the way you should trade everything else. Try to go with the trend and avoid going against support and resistance. If you're in a ranging market wait for a breakout. They tend to perform when the market is in an impulsive mood.
  • #131,506
  • Jul 17, 2014 11:31am Jul 17, 2014 11:31am
Few updates.

USDCHF - still going strong.

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New entry GBPJPY - BE for now.

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Re entry on Gold - BE for now.

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  • #131,507
  • Jul 17, 2014 1:53pm Jul 17, 2014 1:53pm
Quoting mbqb11
good to see a bit of FX movement. Still been pretty darn choppy so hope you all are being cautious. Here is a nice clean pinbar trade I am in. Classic J16 really, triple bar top, nice size and close {image} {image}
i've closed out of this one for a nice profit
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  • #131,508
  • Jul 18, 2014 5:16am Jul 18, 2014 5:16am
Suspect there's a cluster of stops above, watching if price will trigger them.

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Whether you can or you can't, you are both right.
  • #131,509
  • Jul 18, 2014 2:46pm Jul 18, 2014 2:46pm
What would you say about this pin on EURUSD?

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  • #131,510
  • Jul 18, 2014 3:26pm Jul 18, 2014 3:26pm
as for me there is breakdown triangle with the trend at D1 and H4 of EURAUD
caught the part of first attempt. when price stalled I expected pullback to the triangle bottom. This point coincides with the 61.7% Fibo.
limit order at this point and sell stop after sellers absorption.
still in deal as price breakdown 00 number.
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  • #131,511
  • Jul 19, 2014 8:54am Jul 19, 2014 8:54am
Quoting dan89
{quote} Hey Mike, Yup, Im still in this one. Looking for the 'new' pattern to push price lower. However if price does move to the upper trendline, could look to see a break upwards using the BRN. {image} Also another chart that needed a little 'adjusting' {image} Take care Dan
Update:

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Take care
Dan
  • #131,512
  • Jul 20, 2014 7:53am Jul 20, 2014 7:53am
hi all
can someone please help me out
i notice that many keep eyes on a lot of pairs and other instruments...including many exotic pairs and things like gold etc
could anyone please be kind enough to PM me the brokers they use?
i want to keep an eye on a lot of things such that i can maximise my learning capability
thanks in advance
  • #131,513
  • Jul 20, 2014 2:22pm Jul 20, 2014 2:22pm
Quoting flash4
hi all can someone please help me out i notice that many keep eyes on a lot of pairs and other instruments...including many exotic pairs and things like gold etc could anyone please be kind enough to PM me the brokers they use? i want to keep an eye on a lot of things such that i can maximise my learning capability thanks in advance
Hey Flash

If you are looking for a solid demo with a lot of pairs check out FXpro. They have some futures and a few stocks. If you want an all in one check out thinkorswim. I don't like to talk about brokers I use since they are such a personal thing. I use a bunch of brokers so if you want info shoot me a PM

Best
Mike
  • #131,514
  • Jul 20, 2014 6:05pm Jul 20, 2014 6:05pm
thanks mike, PM sent
  • #131,515
  • Jul 21, 2014 12:09am Jul 21, 2014 12:09am
Hello all!

Stumbled upon this thread while googling for any fans of Martin Pring on forums.

I'm a medical doctor, turned Fx and futures trader. I've taken a sabbatical year from medicine to travel the world with my beautiful wife and trade. Internship and residency burned a bit, so here I am!

I trade price-action breakouts+retests as well as confluent trendline/pivot zones (as you guys call them, I nicknamed them role-reversal-zones or RRZ). It's quite nice to find a community with similar trading styles as myself.

Anyways, thought I'd give a feel for the type of trades that I do take. I took 9 last week, 8 were a success. Here are a few of them.
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Follow me on twitter @FxLester
  • #131,516
  • Jul 21, 2014 8:49am Jul 21, 2014 8:49am
Quoting FxLester
Hello all! Stumbled upon this thread while googling for any fans of Martin Pring on forums. I'm a medical doctor, turned Fx and futures trader. I've taken a sabbatical year from medicine to travel the world with my beautiful wife and trade. Internship and residency burned a bit, so here I am! I trade price-action breakouts+retests as well as confluent trendline/pivot zones (as you guys call them, I nicknamed them role-reversal-zones or RRZ). It's quite nice to find a community with similar trading styles as myself. Anyways, thought I'd give a feel...
fantastic lester! Welcome to the thread, these are some great charts

Hope to see you posting more

Mike
  • #131,517
  • Jul 21, 2014 6:26pm Jul 21, 2014 6:26pm
Quoting mbqb11
{quote} fantastic lester! Welcome to the thread, these are some great charts Hope to see you posting more Mike
Dear mike
i saw james16 website, but i couldn't understand anything with your job, can you explain me about james16 services?

loic
  • #131,518
  • Jul 21, 2014 6:28pm Jul 21, 2014 6:28pm
Quoting fxchallenger
{quote} Dear mike i saw james16 website, but i couldn't understand anything with your job, can you explain me about james16 services? loic
Hey FX

I'm a main instructor over there , our website is real outdated we're in the midst of upgrades now

Best
Mike
  • #131,519
  • Edited 12:48am Jul 22, 2014 12:30am | Edited 12:48am
Hello all,

I'm short EURCAD and just moved to BE.

This is one of my favourite types of setup. Trend -> followed by period of consolidation and a breakout-retest of the consolidation with beautiful price action. I would have ideally liked to have seen a psych level as confluence.

I'll try and post live when I can - I entered using splashtop on my mobile phone at the time as I was having coffee with my lady hence the retrospect posting.

The navy blue line is what you guys call the FTA. I have a very similar style and I refer to this line as the FZ (first zone).

Cheers!
Lester

Quoting mbqb11
{quote} fantastic lester! Welcome to the thread, these are some great charts Hope to see you posting more Mike
Thanks Mike!
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Follow me on twitter @FxLester
  • #131,520
  • Jul 22, 2014 1:01am Jul 22, 2014 1:01am
I thought I'd throw up a chart of a pair I have a keen eye on which is the EURCAD. I'm BE, my other EUR trade so as per my rules, I am happy to take another position with the same currency.

It's a similar setup as my last post. I'd say 98% of the time I do not pay attention to fundamentals (I'm purely technical and damn proud of it!) but this is that other 2% of the time. With the current Ukraine-Russia tension, among other factors I've got quite a bearish bias on the EUR pairs.

Now, check out this price-action story: Downtrend, consolidation wedge. I would expect to see a breakout to the downside, and a retest of the 45000 level. I'll be waiting for PA here and will sell with the rest of them. Swing wise, I'm expecting to see a test of the 44500 level but only time will tell (only the market is right 100% of the time!).

Trade safe, all.
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