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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

  • #132,241
  • Sep 14, 2014 9:11am Sep 14, 2014 9:11am
Mike and others,

What is your favorite/(the best) price action's patterns?
-DBLHC/DBHLC
-TBH/TBL
-Rails
-CPR
-HR
-IB
-BUOVB/BEOVB
-PPR
-Pin bar
-GS
-CPP
-MCM
-1-2-3 pattern
-Momo Reversal pattern
-2B pattern
-Ledge pattern
-Jarroo's pattern
-etc...
  • #132,242
  • Sep 14, 2014 10:55am Sep 14, 2014 10:55am
Quoting Alehandro
Mike and others, What is your favorite/(the best) price action's patterns? -DBLHC/DBHLC -TBH/TBL -Rails -CPR -HR -IB -BUOVB/BEOVB -PPR -Pin bar -GS -CPP -MCM -1-2-3 pattern -Momo Reversal pattern -2B pattern -Ledge pattern -Jarroo's pattern -etc...
Price patterns ... any kind of wedge or channel pattern.

Take care
Dan
  • #132,243
  • Sep 14, 2014 11:24am Sep 14, 2014 11:24am
Quoting Alehandro
Mike and others, What is your favorite/(the best) price action's patterns? -DBLHC/DBHLC -TBH/TBL -Rails -CPR -HR -IB -BUOVB/BEOVB -PPR -Pin bar -GS -CPP -MCM -1-2-3 pattern -Momo Reversal pattern -2B pattern -Ledge pattern -Jarroo's pattern -etc...
Hey Alehandro

I wouldn't say I have a favorite per say, its really the story. Those that know me know i'm big on breakout patterns, but i'll take a nice big ole outside bar at a swing high /low right up there too. A good idea though is to try to get good at one or two things at a time and build up your toolbox. If you try to learn all the concepts and trade them it can be trickier if one isn't very very picky

Best
Mike
  • #132,244
  • Sep 14, 2014 3:04pm Sep 14, 2014 3:04pm
Quoting tlindle
Nice post str8 I used to struggle with price action because I was constantly trying to hit home runs. I would lose tons of trades and even when I hit a winner it would usually bring me back to break even. If it brought me into profit, I'd quickly lose it and then some trying to hit another home run. Losing more than you win will create a lot of doubt about the effectiveness of your method, your ability to trade at all, ect. I remember reading about all these traders with 90% win rates and I just couldn't understand what I was doing wrong. I see...

You are right about this....the point of moving the stop to breakeven is critical in the begginning so that the price does not come back and take you out. Confidence is a big thing either in trading or real life. So we need some wins to become confident and see that this thing works.
  • #132,245
  • Sep 14, 2014 3:19pm Sep 14, 2014 3:19pm
Quoting zamfir
{quote} you see this is the problem, you focus too much on the pattern. No amount of information will help gauge if the pattern is strong or not. instead focus on the Context and location. The pin formed near to 103.50 which is a strong resistance areas on the weekly. It took a lot of orders to break it. see the breakout from 103.50 on weekly , it is strong.So what do you expect 103.50 to do now. obviously hold as support and a pin no matter how it looked was enough to confirm the support. About the 104 RN, no a very good location, because it was...

Nice post really liked it.
  • #132,246
  • Sep 14, 2014 3:24pm Sep 14, 2014 3:24pm
Quoting mbqb11
{quote} Hey Trader As always and many times we have answered before. We are an education for traders. The only people who get money from our site are myself and James and our web guy and the costs for the site. More have been compensated when the site was making WAY more than it is making now because we wanted to help others out. Their is nothing wrong with people being compensated for their time, energy and knowledge. In fact for many years now I myself could have made WAY more with my education and skills and have personally chosen not too. I...

Hey Mike

Really happy to see you guys helping other budding traders here. I joined this forum last year and then for a few month took paid membership. I was on a trip to india when I joined this and now I am back in the US. I work for a major financial institution at jersey city. We can meet sometime.

First time I really got confidence that I can trade profitably is after coming in touch with this forum people. There are great people here. I got back to practicing my trading skills. Enjoy your vacation.
  • #132,247
  • Sep 14, 2014 3:26pm Sep 14, 2014 3:26pm
Anybody agree with me to go short on CAD/JPY (Weekly chart)
Because pinbar is formed below a TL & a RN which price has reacted to for some time before
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  • #132,248
  • Sep 14, 2014 3:35pm Sep 14, 2014 3:35pm
Quoting FxLester
{quote} Hi Trader000, Your comments about what Mike and James teaches undermines anyone who uses price action as an edge in the market. I have a free offer for you at the end of my post, (only if Mike is happy with this) so I hope you read my post to the end! I get a sense you need help more than anything. My own personal testament is that I have been able to leave a high paying job as a medical doctor to pursue trading as a "full time" endeavour because of learning price action concepts. I say "full time" as my screen time trading is now only 10...
Oh jesus lester we all know that this is the best place anyone can ever find to learn trading in the right way. I think you are going way too far to prove a thing or two for this guy.
  • #132,249
  • Sep 14, 2014 4:00pm Sep 14, 2014 4:00pm
i'll be shorting this beob closing back over a triple top on a retrace to the former swing point. Looking for previous resistance to once again hold after the large beob
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  • #132,250
  • Sep 14, 2014 11:26pm Sep 14, 2014 11:26pm
i challenge you mike and james16 to show your trading history on forexfactory


i will do the same , we both show trading history

you accept it or not ?
  • #132,251
  • Sep 14, 2014 11:51pm Sep 14, 2014 11:51pm
Quoting Trader000
i challenge you mike and james16 to show your trading history on forexfactory i will do the same , we both show trading history you accept it or not ?


you are funny Trader000.

Not much happening today. Keep the thread entertaining..
  • #132,252
  • Sep 15, 2014 8:07am Sep 15, 2014 8:07am
CHFJPY - BE for now.

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  • #132,253
  • Sep 15, 2014 9:57am Sep 15, 2014 9:57am
Quoting FxLester
Thanks Mike! Thanks FXBat! Market is closed so happy weekend all! I like the AUD/JPY for next week. Here is how I'm seeing things: {image}
Hi Lester, i think your scenario on AUDJPY might be happening tonight. There a pin forming right at 96.50. Im just a little worried about the sunday gap.

I will check again at day closing and if the candle shape remains like a PIN, i will go long on this one too.
Market can stay irrational longer than you can stay solvent.
  • #132,254
  • Sep 15, 2014 10:06am Sep 15, 2014 10:06am
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  • #132,255
  • Sep 15, 2014 10:51am Sep 15, 2014 10:51am
james and mike i know your scheme from the start, the pinbar and everything you sold is gimmick, i can prove you my method work better and more profitable than you by my trading history

if you are a honest teacher , you should accept my challenge, even if you lose i still consider you a man , if you are not , then you dont deserve a bit deference from the community ; you are just hustle swindler like all of fraudster out there, the only difference is you guys still not being caught and convicted yet
  • #132,256
  • Sep 15, 2014 10:55am Sep 15, 2014 10:55am
Quoting zamfir
CHFJPY - BE for now. {image}
Hi Zamfir,

Can you please explain your entry?

N
  • #132,257
  • Sep 15, 2014 11:44am Sep 15, 2014 11:44am
Quoting Trader000
james and mike i know your scheme from the start, the pinbar and everything you sold is gimmick, i can prove you my method work better and more profitable than you by my trading history if you are a honest teacher , you should accept my challenge, even if you lose i still consider you a man , if you are not , then you dont deserve a bit deference from the community ; you are just hustle swindler like all of fraudster out there, the only difference is you guys still not being caught and convicted yet

GET A LIFE...
MY OPINION NOT FINANCIAL ADVISE
  • #132,258
  • Sep 15, 2014 12:14pm Sep 15, 2014 12:14pm
Quoting Neytiri
{quote} Hi Zamfir, Can you please explain your entry? N
Quite simple actually, 115 acting as PPZ and we have a TL on the daily.
  • #132,259
  • Sep 15, 2014 12:35pm Sep 15, 2014 12:35pm
....as previuosly charted, I think good idea on CADJPY already explained by other traders
let see the result
Xam
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  • #132,260
  • Sep 15, 2014 12:44pm Sep 15, 2014 12:44pm
Quoting FxLester
Thanks Mike! Thanks FXBat! Market is closed so happy weekend all! I like the AUD/JPY for next week. Here is how I'm seeing things: {image}
Hi FxLester, what we are going to do with that ? I think a little signal is coming ! (should be a BUY ?)
Lets see tomorrow open price !
Have you already take a position ?
Cheers !
Xam
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