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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

  • #134,081
  • Apr 3, 2015 11:16am Apr 3, 2015 11:16am
Quoting codekid
Hi everyone, I'm new to this thread and new to forex as well ( my trading career is roughly 2 months old). Since starting I've been trying to grab just about every piece of knowledge about the biz as I possibly can. I'm glad I found this thread because now I feel I'm making some progress. I've tried using lots of indicators to trade but quickly realised that hurts your trade way more than it helps. I hope to learn as much as possible so that I can trade my way to the life I want.
Welcome to the thread Codekid. Man 2 months in and you already found this stuff. I know thousands of people who wish they didn't spend years trying out garbage or in indicator hell. Good on you and be sure to ask questions if you need

Best
Mike
  • #134,082
  • Apr 3, 2015 11:18am Apr 3, 2015 11:18am
Quoting Fotovinic
{quote} Hi Mike, is the site you are talking about www.james16group.us ? Pardon me for I am new and am not too familiar with things around here.
Hey Foto

Yes that is our site, the new site has not been turned on yet. We are still active there of course but we aren't ready yet to launch the new site.

Apologies for being away from this thread for a bit but my girlfriends recovery has been very tough

If you have more questions let me know or email me at [email protected]

Best
Mike
  • #134,083
  • Apr 3, 2015 11:20am Apr 3, 2015 11:20am
Quoting FrenchPips
{quote} Hey Guitarbloke - I've been enjoying seeing you put your charts up (along with everyone else) - makes up for the fact that I haven't found anything to trade as I'm either not at the screen at the right time, or I'm being too picky. With your last E/U trade on the 4 hr chart, it feels to me like your trade is in the middle of a lot of "traffic", and perhaps the price action you identified, an IB, wasn't really that well defined. On the other hand, I appreciate that with this one, it looks like you are expecting to be in and out like a scalper...
There has been a lot of sideways action and "boxing" so don't be hard on yourself picky is the only way to success!

I've been watching the boxing and am really interested in the eur/zar. Price has formed a multibar low that is just building up for a "pop" It's one of the few times i'll look to try to play the burst out out right rather than wait for PA confirmation


Best
Mike
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  • #134,084
  • Apr 3, 2015 11:22am Apr 3, 2015 11:22am
Quoting codekid
Hey guys, just the result of a trade I made off what I thought was a Pin bar. Still recovering from some mistakes I made yeterday though (I overtraded, 28 trades for yesterday. I'll do my best not to let that happen again) {image}
fantastic! Man you are a quick learner

Pinbar with divergence, closed above support. Look for the left eye to hold

I wanted a larger nose to play this(just how I am picky) but that is fantastic use of the material and spot on my friend


Mike
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  • #134,085
  • Apr 3, 2015 11:26am Apr 3, 2015 11:26am
Quoting codekid
Hey Guys, Another move I saw That turned out ok. EUR/CAD BUOB. I got 42 pips from this. {image}
You played it right understanding price is sideways. Be careful in those sideways markets though they can give new traders hell if you aren't nimble

Here is the pivot I am watching. Wait till price closes above there with some confirmation . OR watch for a failure of this area. It's beautiful area

Best
Mike
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  • #134,086
  • Apr 3, 2015 3:26pm Apr 3, 2015 3:26pm
Quoting mbqb11
{quote} Welcome to the thread Codekid. Man 2 months in and you already found this stuff. I know thousands of people who wish they didn't spend years trying out garbage or in indicator hell. Good on you and be sure to ask questions if you need Best Mike
Thanks Mike. Trust me you don't know how happy I am to have found this thread so early! I was just trying to find resources that would help me learn and i stumbled upon a website that was ok (that learntotradethemarkets site). But I had some concerns because just about every article has a promo to get you to buy some course. So I started searching for some criticisms about the person that ran it and a found a user in another thread that said he may be a former student of the james16 thread and that's how I got here.

Back to the trades.

Thanks mike for the AUD/USD critic I'll be sure to watch if it surpasses the FTA ( finally know what that means)
I got out of EUR/CAD because I know i'm not at the level yet to properly play these types of situations and there just too previous times priced tested this level to ignore. Will definitely watch out for that move.

Thanks again mike and to everyone who contributes here, You've really helped me. This is just month 1 of 3 before I trade live (as suggested). Looking forward to ups and downs as well those times when clarity in my confused states.
  • #134,087
  • Apr 3, 2015 10:25pm Apr 3, 2015 10:25pm
Quoting mbqb11
{quote} Hey Foto Yes that is our site, the new site has not been turned on yet. We are still active there of course but we aren't ready yet to launch the new site. Apologies for being away from this thread for a bit but my girlfriends recovery has been very tough If you have more questions let me know or email me at [email protected] Best Mike
Thank you Mike, my prayers go out to your girlfriend. Stay strong!
  • #134,088
  • Apr 4, 2015 1:26pm Apr 4, 2015 1:26pm
Hey guys,

Looking at AUDUSD's Daily and Weekly. I noticed a pinbar divergence around the 0.763 area. Going for a reversal perhaps? RSI on the Weekly chart also showed price at oversold levels. Will be watching this pair.

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Edit: Oh, ignore my sell stop order.
  • #134,089
  • Apr 5, 2015 5:44am Apr 5, 2015 5:44am
Can't help but notice a nice PB forming at the 61.8 Fib level on both Daily and Weekly charts of Gold. Is this a sign?

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  • #134,090
  • Apr 5, 2015 8:52am Apr 5, 2015 8:52am
Quoting Fotovinic
Can't help but notice a nice PB forming at the 61.8 Fib level on both Daily and Weekly charts of Gold. Is this a sign? {image} {image}
sorry, but none of them show a valid pinbar to me and valid as far as the j16-setups is concerned.
meine augen sind die sterne
  • #134,091
  • Apr 5, 2015 8:58am Apr 5, 2015 8:58am
Quoting aserbfx
{quote} sorry, but none of them show a valid pinbar to me and valid as far as the j16-setups is concerned.
Sorry but when it comes to PB, I'm still trying to grasp the J16-setups. Can you elaborate sir?
  • #134,092
  • Edited 11:00am Apr 5, 2015 10:48am | Edited 11:00am
Quoting Fotovinic
Can't help but notice a nice PB forming at the 61.8 Fib level on both Daily and Weekly charts of Gold. Is this a sign? {image} {image}
Just a couple points.
1-Your fibs are drawn incorrectly. Start from the opposite end so now price is just @ the 38.2 fib & not the 61.8 fib.

2-The bar on the daily is just an inside bar beside a large bullish bar. A good pinbar would have a large tail out into "space" at the end of a bigger advance or decline.
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  • #134,093
  • Apr 5, 2015 10:59am Apr 5, 2015 10:59am
Quoting Fotovinic
{quote} Sorry but when it comes to PB, I'm still trying to grasp the J16-setups. Can you elaborate sir?
no problem, mate. apart from "srt" wrote, please refer to the j16 manual pdf, available here in the thread as attachement. you will find the basic stuff in it.
meine augen sind die sterne
  • #134,094
  • Apr 5, 2015 11:41am Apr 5, 2015 11:41am
Quoting Fotovinic
{quote} Sorry but when it comes to PB, I'm still trying to grasp the J16-setups. Can you elaborate sir?
here is a quick cheat sheet on the main price bars we use too

http://www.forexfactory.com/attachme...2&d=1293439407
  • #134,095
  • Apr 5, 2015 12:16pm Apr 5, 2015 12:16pm
Mike so will you enter in this trade EUR/CAD? Long at 1.35918*?
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  • #134,096
  • Apr 5, 2015 1:06pm Apr 5, 2015 1:06pm
Quoting mbqb11
{quote} here is a quick cheat sheet on the main price bars we use too http://www.forexfactory.com/attachme...2&d=1293439407

*Alert Newbie question*

I can't see the difference between the engulfing bar setups and the double bar setups. Can someone to explain or point me to the thread page so I can find out?
Thanks for the help.
  • #134,097
  • Apr 5, 2015 1:33pm Apr 5, 2015 1:33pm
Watching this stock. This has lost 30 dollars in a week.
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  • #134,098
  • Apr 5, 2015 1:35pm Apr 5, 2015 1:35pm
Quoting codekid
{quote} Thanks Mike. Trust me you don't know how happy I am to have found this thread so early! I was just trying to find resources that would help me learn and i stumbled upon a website that was ok (that learntotradethemarkets site). But I had some concerns because just about every article has a promo to get you to buy some course. So I started searching for some criticisms about the person that ran it and a found a user in another thread that said he may be a former student of the james16 thread and that's how I got here. Back to the trades. Thanks...

Good Karma brings you to this thread. Enjoy trading.
  • #134,099
  • Apr 5, 2015 1:43pm Apr 5, 2015 1:43pm
The pin bar is small but it is formed at a price high. This is also on my watch list. If this breaks FTA at 320 there is a chance that the price can touch 300.
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  • #134,100
  • Apr 5, 2015 2:19pm Apr 5, 2015 2:19pm
NFLX looks good to me. The PA is not accurate but the price has tested the top thrice and moving down. I will take a PUT on virtual platform and will check the result. If the price breaks the BRN 400 then 360 is a possibility.

Earlier on this chart there is a pin bar that pierced 280 and that was really a good setup.
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