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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

  • #137,061
  • Sep 24, 2015 3:12pm Sep 24, 2015 3:12pm
Quoting Donaciello
{quote} Hey Mike, I've been looking at most of the setups you posted here as well. Now that USD/ZAR has it's lows taken out on the H4; I was looking at USD/SGD. It doesn't really have as high a yield as ZAR, but a similar chart setup. Is that a correct observation? {thanks in advance} {image} PS: H1 coiled up into an I4B, break of the low may be imminent, alternatively, it could spurr the retrace. Thanks for the ongoing great work here Mike! I'm not of the financial means to just join the PF, but plan to as soon as the fee won't strap me. Have a...
Hey D

Yes it would be the same idea. You can see them all sort of moving the same way where we got this beobs, didn't retrace and we've broken lower. I don't like that so i'll stay aside

In terms of the usd/sdg I would avoid this one because that swing point and retracement is so far up the beob. I don't want it to be too far up without a more pinpoint area. The usd/zar would have afforded me a little wiggle room + the BRN.

We have some interesting areas though so I have no doubt more good setups to come.

Thanks D and we don't want to strap anyone that's why we keep everything going. Appreciate the kind thoughts though

Mike
  • #137,062
  • Sep 24, 2015 3:26pm Sep 24, 2015 3:26pm
Quoting mbqb11
{quote} Hey D Yes it would be the same idea. You can see them all sort of moving the same way where we got this beobs, didn't retrace and we've broken lower. I don't like that so i'll stay aside In terms of the usd/sdg I would avoid this one because that swing point and retracement is so far up the beob. I don't want it to be too far up without a more pinpoint area. The usd/zar would have afforded me a little wiggle room + the BRN. We have some interesting areas though so I have no doubt more good setups to come. Thanks D and we don't want to strap...
Yellen is set to speak in about half an hour from now.
I've pulled my orders for now and will keep watching the USD/X closely.

By the way; a while back the USD/SGD made this great Daily BEOB @ swing high, strong close etc.
did you take it? I chickened out because of traffic.
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worked like a charm from the break of the bar to FTA, then retraced very deep and went to the major PPZ below.

Anyway, great trading Mike!
bye
It's a sport, an artform and a science.
  • #137,063
  • Sep 24, 2015 4:07pm Sep 24, 2015 4:07pm
Quoting mbqb11
{quote} here is what I look for in this case. We want to validate that TL first. That's very key for me to understand if a TL is still important. So ideally here very shortly we will see price bounce. Depending on the days close we could see tomorrow push us higher which will help create more strength to this area. Then the next time we can get price to close UNDER this area it becomes a PERFECT area for shorts at the pivot/brn and TL(purple arrows) now if it just cuts right through an area like this, that actually makes me less prone to take shorts...
we can see this bounce now at the TL which confirms it's validity. I call this localization

one way to buy that is to wait for that 4hr to close and buy a pullback to the TL. I prefer in this case to wait for PA though. A nice 4hr beob would do just fine here
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  • #137,064
  • Sep 24, 2015 4:18pm Sep 24, 2015 4:18pm
Quoting mbqb11
{quote} I'm not going to ban you. I want you to have access to this area. The only people we ban are those that never want to change and just bring the thread down. I'm going to hope that's not the case here. So it's really up to you how to use this area. If you want to just ignore me completely to do that, I'd feel better about allowing you that then stripping it away. But if you show respect you'll get it right back and we do expect that in this thread Thanks Mike
Mike, I’m South African and you’re North American. Our constitutions have more than a few things in common, one of which is: “the freedom of speech.” Read the first amendment carefully! If you want to take that away from me, that’s your call. I got nothing else to say to you. FXBat, Aserb and all the other attackers, I’d love to give you a textual beating in reply but unfortunately I do not have the same privileges as you. So.... yeah, whatever!
  • #137,065
  • Sep 24, 2015 4:23pm Sep 24, 2015 4:23pm
EURGBP H1 BEOB. Sorry the image says bUob but I meant bEob.
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  • #137,066
  • Sep 24, 2015 4:26pm Sep 24, 2015 4:26pm
Cadjpy h3 pb:
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  • #137,067
  • Sep 24, 2015 4:26pm Sep 24, 2015 4:26pm
Quoting FXBat
{quote} LOL Incognito. Here's a new thing for you. It's called "There is no free lunch". Get this in your head, before continuing to learn to trade Forex. Everyone is alone on his path to success! Mike or other wont be there to hold your hand when you take a hit on your account! So learn everything that you can by yourself, and stop arguing with people who put in so much of their time in this thread, to teach something useful to ungrateful people like you. Forex gets some people frustrated, it gets me too, but the only solution is yourself, not...
Well said FXBAT. I learn't a lot from this thread and one or two others, and spent several thousand hours in study and demo trading. then went live using what I had got for free from the likes of James16. I have never joined the PF. I do not trade like Mike but more like James in his early threads (that's a few years back). So, Incognito, stop whining and expecting free signals in order to "piggy back" off the set ups of some one else, and put in the demo time and intellectual effort to learn to feed yourself, rather than expect someone to pop pips into and idle mouth.
No Free Lunch
every Saint has a past. Every Sinner has a Future
  • #137,068
  • Sep 24, 2015 4:29pm Sep 24, 2015 4:29pm
Quoting turnip15
{quote} Well said FXBAT. I learn't a lot from this thread and one or two others, and spent several thousand hours in study and demo trading. then went live using what I had got for free from the likes of James16. I have never joined the PF. I do not trade like Mike but more like James in his early threads (that's a few years back). So, Incognito, stop whining and expecting free signals in order to "piggy back" off the set ups of some one else, and put in the demo time and intellectual effort to learn to feed yourself, rather than expect...
Thanks
  • #137,069
  • Sep 24, 2015 4:30pm Sep 24, 2015 4:30pm
he again,

Just entered this wick-play:
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It's a sport, an artform and a science.
  • #137,070
  • Sep 24, 2015 4:41pm Sep 24, 2015 4:41pm
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
Did you overdo with alcohol??!! What the hell are you talking about???
Why are you always begging & looking for freebie? Asking for discount in PF/ asking for signals....
This thread teaches people, provides tons of information for people, who wants to form their own strategy, find their own way in forex & become absolutely independent in their trading.
Mike doesn't have to answer every question, he in fact doesn't have to answer any question in this thread, but he does it. Don't you think, that it's normal that a person can miss some questions or just doesn't have time for them... 10 years have passed & Mike is still here- answering, providing info, posting charts/videos & greeting new members!
Your words don't show your "balls", but unveil lack of brains and elementary respect & gratitude to people, who help & teach others for FREE.

Mike, pls don't pay attention. You're doing great job! I'm here for 3,5 months & I began to understand forex, find working setups, changing and forming my own strategy and way of trading. And all this happened because such persons like you are still here, still helping & still keeping this thread. Thanks a lot!
  • #137,071
  • Sep 24, 2015 4:52pm Sep 24, 2015 4:52pm
Inco, what's going on? You are out of order with your comments.

I am grateful for you, Mike, and everyone who contributes here because I learn things from you all. There is more quality education here for free than in most paid forums.

I hope you can take a step back, pause, and reconsider your thoughts. I hope you remain on this thread as your trading contributions are valuable. GB.
'Fail to plan, plan to fail'
  • #137,072
  • Sep 24, 2015 5:08pm Sep 24, 2015 5:08pm
Wow, even you GB? What did I say that was out of line? Show me and I will recant.
  • #137,073
  • Sep 24, 2015 5:13pm Sep 24, 2015 5:13pm
Quoting incognito517
Wow, even you GB? What did I say that was out of line? Show me and I will recant.
I will PM you.
'Fail to plan, plan to fail'
  • #137,074
  • Sep 24, 2015 6:13pm Sep 24, 2015 6:13pm
J16 thread, I’d just like to apologise for all that I’ve said earlier. I was way out of line and I’m sorry. Take care.
  • #137,075
  • Sep 24, 2015 6:28pm Sep 24, 2015 6:28pm
Quoting incognito517
J16 thread, Id just like to apologise for all that Ive said earlier. I was way out of line and Im sorry. Take care.
Inc and I spoke over PM and we are totally fine. Sometimes we all say or do things we don't really mean.

I appreciate you guys jumping in but everything is cool


Inc no need to go anywhere, hang around, no hard feelings and we'll get back to trading and learning

Mike
  • #137,076
  • Sep 25, 2015 1:15am Sep 25, 2015 1:15am
Quoting mbqb11
{quote} Inc and I spoke over PM and we are totally fine. Sometimes we all say or do things we don't really mean. I appreciate you guys jumping in but everything is cool Inc no need to go anywhere, hang around, no hard feelings and we'll get back to trading and learning Mike
We are lucky to have Mike on this forum, a great trader is also a great person
Market can stay irrational longer than you can stay solvent.
  • #137,077
  • Sep 25, 2015 2:18am Sep 25, 2015 2:18am
Hi Mike/Guys,

This is my first post on this forum although Mike may remember my name from a few months on his webinars on the private forum last summer. I'm currently still a newbie trader and leaving a lot from his method.

Now to business did anyone place a trade on the GBP/USD Outside bar on 4hr. See below. There were loads of good trades to take this week but a couple failed ones too.

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  • #137,078
  • Sep 25, 2015 3:36am Sep 25, 2015 3:36am
GBPZAR DAILY pinbar, triple top and divergence. It can be frustrating when learning how to trade and waiting for setups, learn to be patient and take only the best setups to help build your confidence.

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  • #137,079
  • Sep 25, 2015 4:05am Sep 25, 2015 4:05am
EURGBP 1HR OB/Pinbar, triple top, divergence. Mike does post some more advanced trades on FF which whilst still following the basic J16 'rules' do take a little more thought and cannot be directly 'copied' unless you have a thorough understanding of all of the basics. You don't need to look for advanced setups, there are plenty of the 'core' J16 setups every day, there are plenty of FREE J16 videos and information on this thread to set you up as a trader, all you have to add is patience and determination.

The same setup as the previous GBPZAR, these are the core of the J16 'way', master these easy to see setups and all your frustration vanishes.


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  • #137,080
  • Edited 5:29am Sep 25, 2015 4:22am | Edited 5:29am
USDCHF 4HR pinbar, just draw a line on your chart and wait, your patience will be rewarded. No need for your chart to look like a still from a Pink Floyd concert.

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