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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

  • #137,541
  • Nov 12, 2015 11:59pm Nov 12, 2015 11:59pm
Still some life (and pips) in XPTUSD before it hits support. BEOB in a major down trend.
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  • #137,542
  • Nov 13, 2015 12:18am Nov 13, 2015 12:18am
D1 BEOB for USDCHF. Seems to be at a prominent resistance area. Just waiting for further confirmation from the H4 or H1 timeframes as to when retrace has finished...
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  • #137,543
  • Nov 13, 2015 7:26am Nov 13, 2015 7:26am
Quoting analysttrade
{quote} what emas do you use sir?
I'm experimenting. A few J16 one's and others. For reference. Sometimes none. Good trading to you. GB.
'Fail to plan, plan to fail'
  • #137,544
  • Nov 13, 2015 7:38am Nov 13, 2015 7:38am
Hi Guys

Is james16 site still running? https://www.james16group.us/Guests/guestchat.html

I ve been trying to contact him for few weeks now

Thx

Regards
  • #137,545
  • Nov 13, 2015 8:55am Nov 13, 2015 8:55am
Quoting priceaction9
Hi Guys Is james16 site still running? https://www.james16group.us/Guests/guestchat.html I ve been trying to contact him for few weeks now Thx Regards
Hey PA

Yep we are still running our website is getting an overhaul

Feel free to drop me a line at [email protected]

Best
Mike
  • #137,546
  • Nov 13, 2015 3:44pm Nov 13, 2015 3:44pm
Quoting Bill618
D1 BEOB for USDCHF. Seems to be at a prominent resistance area. Just waiting for further confirmation from the H4 or H1 timeframes as to when retrace has finished... {image} {image}
Sure retraced Bill, and invalidated the signal! Def one to watch at this area though. The D1 BEOVB looked a possibility, but next bar obviously couldn't trade below BRN 1.00000. Price may still rise further to around previous highs/supply zone before possibly reversing. I'll be looking for reversal PA next week, but will be mindful that price still has room to go higher yet.

In other news, another profitable week. In and out of Oil a couple of times, but eventually in profit. One of many positives I've got from this joint is that trading into space, not traffic, is slowly getting through my thick head. Have a beaut weekend y'all. GB.

USD/CHF W1.

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'Fail to plan, plan to fail'
  • #137,547
  • Nov 13, 2015 3:54pm Nov 13, 2015 3:54pm
Quoting srt
S&P at important level. {image}
Entry on sell-stop yesterday @ break of support. Close today @ next support. A bounce to 2045 would give a re-entry for lower prices.
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  • #137,548
  • Nov 13, 2015 4:02pm Nov 13, 2015 4:02pm
Quoting srt
UJ: A couple possible trades. {image}
Entry on sell-stop.
SL moved above today's high.
Looking like a bull-flag so expecting higher after hits target (or sooner) :-)
I'll be looking to short @ the higher level next week or go long after TP on current trade.
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  • #137,549
  • Nov 13, 2015 5:31pm Nov 13, 2015 5:31pm
Good job Srt!
'Fail to plan, plan to fail'
  • #137,550
  • Nov 13, 2015 6:15pm Nov 13, 2015 6:15pm
Quoting Guitarbloke
Good job Srt!
Thanks GB.
Just trying to catch up to you.
  • #137,551
  • Nov 15, 2015 5:35pm Nov 15, 2015 5:35pm
Quoting Guitarbloke
{quote} Sure retraced Bill, and invalidated the signal! Def one to watch at this area though. The D1 BEOVB looked a possibility, but next bar obviously couldn't trade below BRN 1.00000. Price may still rise further to around previous highs/supply zone before possibly reversing. I'll be looking for reversal PA next week, but will be mindful that price still has room to go higher yet. {image}
Yes GB it did. Glad I didn't enter on just the one J16 signal. Because this pairing is at a definite PPZ, I will keep an eye on it but in my very limited experience I have learnt that if you're going to go against trend regardless of S&R zones etc., you need two or more j16 patterns at least on the higher t/frames. That's my personal experience anyway.
Time to put my patience hat on....

Bill
  • #137,552
  • Nov 16, 2015 12:22am Nov 16, 2015 12:22am
XAU/USD D1 PB. Counter trend trade, so happy to have some profit locked in. Double bottom area where price has moved back up from before. I remain mindful that overall trend is down, so will look to short again at a swing high.

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'Fail to plan, plan to fail'
  • #137,553
  • Nov 16, 2015 1:45am Nov 16, 2015 1:45am
Hi,
Question to setup few days ago. Would you trade it on breakout? If not, why?
Thanks.
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  • #137,554
  • Nov 16, 2015 3:02am Nov 16, 2015 3:02am
Quoting vanilla.sky
Hi, Question to setup few days ago. Would you trade it on breakout? If not, why? Thanks. {image}
Hey VS. Keep in mind I am a novice. I would've traded it on a retrace with a sell limit order appx. half way up that BEOVB. Could've been good for 90 pips. But trading it at the break of bar in this case would be entering at too low an area for me. Confluence would also be the previous large bearish outside bar closing below 1.08000. You'd have to work out your risk, S/L and TP target to see if it'd be worth it. But I much prefer trading from a swing high further up than at current level. You could've grabbed 50 pips at the least on that one. I'm waiting to see if price pulls back to 1.08000 area to look for short PA. GB.
'Fail to plan, plan to fail'
  • #137,555
  • Nov 16, 2015 4:02am Nov 16, 2015 4:02am
Quoting cold chisel
Спасибо protuberanec Sometimes it is good to know russian.
you know Russia and English too.my humble request please you write one summery/zits manual in English for FFF .thanks in advance
Say something meaningful or Silence!!
  • #137,556
  • Edited 2:28pm Nov 16, 2015 5:03am | Edited 2:28pm
NZD/USD H4 BEOVB. Moving down at last. BE. Target .06415

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XAU/USD H4 BEOVB. Sell at swing high. Good looking potential BEOVB forming on D1, so my TP is now set way down south below 1078.00 area. Profit locked in.

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EUR/CAD D1 IB. at BE.

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'Fail to plan, plan to fail'
  • #137,557
  • Nov 16, 2015 11:06am Nov 16, 2015 11:06am
I have a question for anyone in the know. If i was to consider being a trend only trader and traded only the daily chart, what length of time would constitute a trade-able daily trend? I understand of course that there are no definitive rules and it is very much subjective.

I have become frustrated at myself for trying to call trend changes and watching price do the inevitable and want to adapt my strategy.

Mike if you are able to or want to add an opinion on the subject it would be very helpful to me.
  • #137,558
  • Nov 16, 2015 1:45pm Nov 16, 2015 1:45pm
Bladerunn3rs question is one I would love to know as well.

When I first looked at trading currencies 4 months ago, I was thankfully led to this forum. It has been very informative and motivational. But I have the feeling that currency trading in general is more of a short term game. Due to its volatility, in and out in a matter of days, sometimes hours.


I have been share trading for about 20 years, the last 10 successfully (slow learner). 10 years ago I came across the Nicolas Darvas way of trading and haven't looked back. Nowadays, I am a full- time share trader (95% technical analysis) and it goes well.


Literally just a few days ago it dawned on me to consider trading currencies the same or similar way I do shares. The basics of my share trading are:
Clear and long term uptrend (the share price must have doubled in the last 12 months or less), buy a breakout with the trend of course of a period of consolidation (sideways between S & R's), history of price not being to volatile (to avoid my stop loss from being prematurely hit), increased volume/interest leading up to the purchase. Price is at a new 250 day high (is this out of the question for currency trading?). There are a few other factors considered but my software takes care of most of the donkey work.


Yes I am in the infant stage of my currency education but I have just woken up to the fact that I am trading the opposite way I do shares. Basically i'm day trading currencies whereas my shares average about 4 months in and out. At the moment one is successful, one isn't.
I've waffled on long enough.

So words of wisdom from the wise in regards to BR's question would be much appreciated by at least a few of us

Bill
  • #137,559
  • Nov 16, 2015 1:47pm Nov 16, 2015 1:47pm
Quoting Guitarbloke
{quote} Hey VS. Keep in mind I am a novice. I would've traded it on a retrace with a sell limit order appx. half way up that BEOVB. Could've been good for 90 pips. But trading it at the break of bar in this case would be entering at too low an area for me. Confluence would also be the previous large bearish outside bar closing below 1.08000. You'd have to work out your risk, S/L and TP target to see if it'd be worth it. But I much prefer trading from a swing high further up than at current level. You could've grabbed 50 pips at the least on that...
Thanks for your answer, GB.
Cheers
  • #137,560
  • Nov 16, 2015 2:13pm Nov 16, 2015 2:13pm
Quoting Bladerunn3r
I have a question for anyone in the know. If i was to consider being a trend only trader and traded only the daily chart, what length of time would constitute a trade-able daily trend? I understand of course that there are no definitive rules and it is very much subjective. I have become frustrated at myself for trying to call trend changes and watching price do the inevitable and want to adapt my strategy. Mike if you are able to or want to add an opinion on the subject it would be very helpful to me.
Hey BR. I'll leave your question to Mike, but are you saying you're having trouble identifying reversal signals/signs? e.g. mistaking a pull back for a possible trend change etc? I look forward to more discussion on your question either way.

Bill, 20 years trading experience! Fab stuff. Enjoying your insights thus far and look forward to more friend.

No worries VS.

Good trading this week y'all. GB.
'Fail to plan, plan to fail'
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