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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

  • #131,961
  • Aug 27, 2014 10:24am Aug 27, 2014 10:24am
Quoting FxLester
{quote} Nice trading dvimix! CADCHF is reaching some long term highs near 0.84150. Might be a logical target. Although, if price blasts through, then the area can hold as support and you may have yourself an even longer term trade on your hands. You're at safety on all your trades and this is a wonderful thing. Great trading!
Thanks FxLester! Glad that you can find some time for charts and FF among your vacation days. About CADCHF yes, I also see this area. Now it already under 8400 BRN. But give it little chanse, I was out of market about 3 weeks, so I missed . Dont want close very fast :-). But if it will go under 8375, think I will need to close.About USDCAD hope that 1.0935 will be resistance, I see there minor level . And I m not sure that price can go under 1.0850 soon so I will close manualy this trade at area 0860 if I will get this chance.
  • #131,962
  • Aug 27, 2014 12:12pm Aug 27, 2014 12:12pm
Quoting zamfir
{quote} This is nothing new. I learned this setup from the James and all by looking at his charts posted right here. you too can do this. you need to look for it. I could tell you how and why , but you will not understand it because you are not looking at the charts the way i do. This is the hard part of teaching trading to some one and that too over a forum. It's not hard if you look at the right things. It's a different kind of appreciation when you learn something by yourself. Most people will feel frustrated and probably give up reading what...
OK, got it Zamfir. I wont give up, i will start studying J16's charts and try to see them with different eyes, as you say thanks.
Market can stay irrational longer than you can stay solvent.
  • #131,963
  • Aug 27, 2014 12:46pm Aug 27, 2014 12:46pm
Quoting doerpn
{quote} Hi Xamarass, always look at the bigger picture.....I just opened a buy trade. {image}
ok it seems other mistake... since I start trading PIN bars I collected the biggest negative sequence of loosing trades (8 consecutives)
This system probably doesn't fit me or morel likely no right way to see Price Chart.
In any case one thing is correct in my trades (the size is no more than 3% ! )
Thanks Doerpn for your comment
cheers
Xam
  • #131,964
  • Edited 2:06pm Aug 27, 2014 1:56pm | Edited 2:06pm
Quoting Xamarass
{quote} ok it seems other mistake... since I start trading PIN bars I collected the biggest negative sequence of loosing trades (8 consecutives) This system probably doesn't fit me or morel likely no right way to see Price Chart. In any case one thing is correct in my trades (the size is no more than 3% ! ) Thanks Doerpn for your comment cheers Xam
try to remember that a pinbar itself is only a signal to look for a setup, but not the setup itself.
the location, space etc matters.
meine augen sind die sterne
  • #131,965
  • Aug 27, 2014 2:12pm Aug 27, 2014 2:12pm
Quoting aserbfx
{quote} try to remember that a pinbar itself is only a signal to look for a setup, but not the setup itself. the location, space etc matters.
yes this is why most people give up on "pinbars' It's such a small small piece of the puzzle. A pinbar is just a bar , size of bar, close of bar, location of bar, story of price, putting together an entry and exit plan. These are the components that will determine a successful trader.

Don't be discouraged it takes a lot of time and experience and trial and error to learn the goods from the bads.

Post some of those 8 losses i'll be glad to show you what was wrong and then you can build off that

Best
Mike
  • #131,966
  • Aug 27, 2014 4:15pm Aug 27, 2014 4:15pm
Quoting aserbfx
{quote} try to remember that a pinbar itself is only a signal to look for a setup, but not the setup itself. the location, space etc matters.
Grüße aus Dortmund
Have a nice day
  • #131,967
  • Aug 27, 2014 4:17pm Aug 27, 2014 4:17pm
Quoting mbqb11
{quote} yes this is why most people give up on "pinbars' It's such a small small piece of the puzzle. A pinbar is just a bar , size of bar, close of bar, location of bar, story of price, putting together an entry and exit plan. These are the components that will determine a successful trader. Don't be discouraged it takes a lot of time and experience and trial and error to learn the goods from the bads. Post some of those 8 losses i'll be glad to show you what was wrong and then you can build off that Best Mike
Hi Mike,
I admire your helpfulness!
Have a nice day
  • #131,968
  • Aug 27, 2014 4:26pm Aug 27, 2014 4:26pm
Quoting Xamarass
{quote} ok it seems other mistake... since I start trading PIN bars I collected the biggest negative sequence of loosing trades (8 consecutives) This system probably doesn't fit me or morel likely no right way to see Price Chart. In any case one thing is correct in my trades (the size is no more than 3% ! ) Thanks Doerpn for your comment cheers Xam
Hi Xamarass,
I would recomment you to go to the guest-area and watch the wonderful introduction video "rants and charts-a closer look at what we do".
It will help to solve at least parts of your problems!
http:///www.james16group.us/Guests/guestmaterial.html
Then think about joining the group
Have a nice day
  • #131,969
  • Aug 27, 2014 5:28pm Aug 27, 2014 5:28pm
Quoting doerpn
{quote} Grüße aus Dortmund
Auch ganz nette Grüße vom Bodensee
  • #131,970
  • Aug 27, 2014 5:55pm Aug 27, 2014 5:55pm
Quoting doerpn
{quote} Hi Mike, I admire your helpfulness!
thanks D

I appreciate all you guys, jumping in to help when I can't. It's a huge help and why this thread sustains itself

Mike
  • #131,971
  • Edited 9:52pm Aug 27, 2014 9:38pm | Edited 9:52pm
Hello guys! Now Im after night sleep open my charts and saw that USDCAD clost with profit on 0860
Attached Image (click to enlarge)
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CADCHF

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Click to Enlarge Name: Image 006.png Size: 28 KB


think to move stoploss to 8370 that save 30 pips of profit and give it chance. But previos bar like as PIN and zone of resistance. And I have about 80 pips of profit. There are thoughts to close and take all profit now

but if watch on chart other way then it PIN
Attached Image (click to enlarge)
Click to Enlarge Name: Image 12.png Size: 35 KB

what do you think?
also close of the day above 8400 may be it will support
  • #131,972
  • Aug 28, 2014 2:00am Aug 28, 2014 2:00am
Quoting Xamarass
{quote} ok it seems other mistake... since I start trading PIN bars I collected the biggest negative sequence of loosing trades (8 consecutives) This system probably doesn't fit me or morel likely no right way to see Price Chart. In any case one thing is correct in my trades (the size is no more than 3% ! ) Thanks Doerpn for your comment cheers Xam
Xamarass, your problem is not the Pin bars , but the location. Work on the location first, then worry about patterns.
  • #131,973
  • Aug 28, 2014 2:49am Aug 28, 2014 2:49am
Quoting D.Snizaruk
{quote} Auch ganz nette Grüße vom Bodensee
Have a nice day
  • #131,974
  • Aug 28, 2014 2:52am Aug 28, 2014 2:52am
Quoting mbqb11
{quote} thanks D I appreciate all you guys, jumping in to help when I can't. It's a huge help and why this thread sustains itself Mike
No problem, but if I`m telling bullshit you feed my mouth, ok?
Have a nice day
  • #131,975
  • Aug 28, 2014 3:17am Aug 28, 2014 3:17am
Quoting dvimix
Hello guys! Now Im after night sleep open my charts and saw that USDCAD clost with profit on 0860 {image} CADCHF {image} think to move stoploss to 8370 that save 30 pips of profit and give it chance. But previos bar like as PIN and zone of resistance. And I have about 80 pips of profit. There are thoughts to close and take all profit now but if watch on chart other way then it PIN {image} what do you think? also close of the day above 8400 may be it will support
Hi dvimix,
great trade...missed it.
I would take the 80 pips profit and reenter trade after confirmation of the HHS (Highest High supply) shown in the weekly. There`s also a descending down channel giving some pressure. Why risking 50 pips profit? My opinion
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.weekly.png Size: 60 KB
Have a nice day
  • #131,976
  • Aug 28, 2014 5:23am Aug 28, 2014 5:23am
Quoting doerpn
{quote} Hi dvimix, great trade...missed it. I would take the 80 pips profit and reenter trade after confirmation of the HHS (Highest High supply) shown in the weekly. There`s also a descending down channel giving some pressure. Why risking 50 pips profit? My opinion {image}
Hi doerpn! I think if price close under 8400 today, then need to close tomorrow. Also I like weekly PPZ near 8500. If price would go there it will be great. Dont worry about missing trade, there are always other good ones right the corner !
  • #131,977
  • Aug 28, 2014 6:03am Aug 28, 2014 6:03am
Quoting dvimix
{quote} Hi doerpn! I think if price close under 8400 today, then need to close tomorrow.

good idea....

Also I like weekly PPZ near 8500. If price would go there it will be great.

then you have to set a trail-stopp just under todays low...but if todays close under 8400, than 8400 is a resist....your choice


Dont worry about missing trade, there are always other good ones right the corner !


I know, I know...
Have a nice day
  • #131,978
  • Aug 28, 2014 7:04am Aug 28, 2014 7:04am
Quoting D.Snizaruk
{quote} Auch ganz nette Grüße vom Bodensee
Stuttgart
Hero calls followed by margin calls...
  • #131,979
  • Aug 28, 2014 9:43am Aug 28, 2014 9:43am
Quoting zamfir
{quote} This is nothing new. I learned this setup from the James and all by looking at his charts posted right here. you too can do this. you need to look for it. I could tell you how and why , but you will not understand it because you are not looking at the charts the way i do. This is the hard part of teaching trading to some one and that too over a forum. It's not hard if you look at the right things. It's a different kind of appreciation when you learn something by yourself. Most people will feel frustrated and probably give up reading what...
Hi Zamfir,

followed your advise and studied James's charts. Please tell me if im looking in the right direction: I assume your entry on CADJPY was based on a touch of 50% FIb retrace + a resistance turned into support at 94.50 (red line) + TL?
Attached Image (click to enlarge)
Click to Enlarge Name: CADY1.png Size: 32 KB
Market can stay irrational longer than you can stay solvent.
  • #131,980
  • Aug 28, 2014 10:00am Aug 28, 2014 10:00am
Quoting FXBat
{quote} Hi Zamfir, followed your advise and studied James's charts. Please tell me if im looking in the right direction: I assume your entry on CADJPY was based on a touch of 50% FIb retrace + a resistance turned into support at 94.50 (red line) + TL? {image}
Nope. That's not it. But yes you can view it that way also. But why would you think i took it because of 50% , could be 32.8 or 61 % also.

But my reasons were different.

From your analysis & charts , i can tell you that you are still too focused on indicators .Like i said earlier , get good with ONLY a horizontal line and TL, no more. More is not good.

Study price S/R & location more...
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