james16 Chart Thread | Page 6906 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #138,101
  • Jan 9, 2016 12:21am Jan 9, 2016 12:21am
Quoting balloontree
{quote} I don't get it. Do we take any outside bar? Or outside bar with: 1) at swing highs/lows 2) candle body engulfing previous candle? 3) breaking a strong SR or BRN/RN 4) breaking a trend line 5) SME150 6) fibo lines? I can't see anything apart from outside bars.........
Best watch Jims video 'where did price go - where is price going' on the J 16 site guest area. That outside bar had me interested because it was with trend and closed above VBRN. It went where it was supposed to go. Cool eh? Imagine if you could pick that.

P.S. That chart was just an exercise not a trade set-up recommendation. I am just discussing the mechanics of price/where it will likely go to. i.e. FTA.
'Fail to plan, plan to fail'
  • #138,102
  • Jan 9, 2016 3:02am Jan 9, 2016 3:02am
Hi
I'm looking for a mt4 indicator which can tell how many times a price point was touched during a session or how long price stayed at a particular point. I think it could give a good reference for price action trading.. Will appreciate any suggestion on this.
  • #138,103
  • Jan 9, 2016 4:53am Jan 9, 2016 4:53am
Quoting balloontree
{quote} I don't get it. Do we take any outside bar? Or outside bar with: 1) at swing highs/lows 2) candle body engulfing previous candle? 3) breaking a strong SR or BRN/RN 4) breaking a trend line 5) SME150 6) fibo lines? I can't see anything apart from outside bars.........
At swing highs/lows with confluence from any of the other criteria you mentioned, you can take them as continuation bars but they're very tricky, leave them alone and concentrate on good swing point setups, look through some charts and find them at the highs and lows and you'll see how well they can perform, remember - the more confluence the better. GB is just using the continuation setup to demonstrate where price could go not as a trading opportunity. Plenty of FREE J16 videos on outside bars are available, once you master them you could trade them and nothing else.
  • #138,104
  • Jan 9, 2016 5:44am Jan 9, 2016 5:44am
Quoting antisystem
{quote} Be carefull with BRN ahead & strong daily/weekly/monthly support) PF really is a great place. See you there soon) Have a nice weekend!
Thanks, A! I got you.

Same to you.

Nick
  • #138,105
  • Jan 9, 2016 5:50am Jan 9, 2016 5:50am
its a single signal ,still negative ,super risky ,only location made it worth debating




Quoting JohnnyHyde
{quote} Hey, Mike, How would you define the "strong down move"? 2010-04-25 to 2010-05-16 was even a stronger down move and it managed to bounce from that level, also in November 2008 and December 2008 there were also pin bars from the same level and all of them played nicely. Or maybe it was a "not so finished yet" AB=CD move? Also maybe you could comment on why exactly 4575 and not something like 4596-4599 ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD d1 (DFB).png Size: 19 KB
Click to Enlarge Name: USD example (DFB).png Size: 24 KB
Click to Enlarge Name: USD example 2(DFB).png Size: 20 KB
Click to Enlarge Name: USD example 3(DFB).png Size: 30 KB
Click to Enlarge Name: USD monthly (DFB).png Size: 32 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #138,106
  • Jan 9, 2016 6:48am Jan 9, 2016 6:48am
Quoting Bones
Hi Mike I'm struggling a little with this , If your a seller you don't buy anything ,the action could never make price rise ? Only would it rise if there were more buyers Only way a sellers can make price rise is by closing ,if enough sellers liquidate position (buy back) price will rise ,? {quote} {image}

Hi Bones I want to try to answer your question. The reason why price falls when everyone wants to sell is the very process itself. Its price discovery. if you get a bid/ask quote for an instrument and loads rush to sell the next quote will be automatically lower to see appetite. If there is no appetite then the quote stays similar to what it was before. This last China rout was caused by lots of traders trying to exit the door before the circuit breakers kicked it and would have sold everything at market. So the market makers had a field day marking prices down. I dont know whether this helps
If you think you can or cannot do it you are correct
  • #138,107
  • Jan 9, 2016 7:11am Jan 9, 2016 7:11am
Quoting Olu
{quote} Hi Bones I want to try to answer your question. The reason why price falls when everyone wants to sell is the very process itself. Its price discovery. if you get a bid/ask quote for an instrument and loads rush to sell the next quote will be automatically lower to see appetite. If there is no appetite then the quote stays similar to what it was before. This last China rout was caused by lots of traders trying to exit the door before the circuit breakers kicked it and would have sold everything at market. So the market makers had a field...


Mbqb11 said that when the sell signal for usd/nok was sent out, price moved up quickly and may be due to big clients following the signal..

Bones is pointing out that if you were selling massive orders (institutional size) on usd/nok and there was not enough buyers at the market price to fulfil the sell order (low liquidity), then the laws of supply and demand and market liquidity dictate that price would be marked DOWN and not upwards to find more buyers. So if anything price should have shot down and not upwards in the circumstances of low liquidity and big orders going into the usd/nok. This is how a market/auction works. More sellers than buyers = price moves lower, more buyers than sellers = price moves higher. I don't understand why price would move upwards when there is more sellers than buyers, it makes no sense. Maybe Mbqb11 can help clear this up...
  • #138,108
  • Jan 9, 2016 7:54am Jan 9, 2016 7:54am
Quoting NaughtyPip
{quote} Mbqb11 said that when the sell signal for usd/nok was sent out, price moved up quickly and may be due to big clients following the signal.. Bones is pointing out that if you were selling massive orders (institutional size) on usd/nok and there was not enough buyers at the market price to fulfil the sell order (low liquidity), then the laws of supply and demand and market liquidity dictate that price would be marked DOWN and not upwards to find more buyers. So if anything price should have shot down and not upwards in the circumstances of...

Hi NP I get it now. I should have read earlier post to get the full jist. Thanks
If you think you can or cannot do it you are correct
  • #138,109
  • Jan 9, 2016 9:20am Jan 9, 2016 9:20am
yea exactly ,I don't know what it takes to move that chart ,but Im assuming small J16 group for every sell theres a buy at that moment ,but also going into a market with sell dose not make price rise in any circumstance ,?


Quoting NaughtyPip
{quote} Mbqb11 said that when the sell signal for usd/nok was sent out, price moved up quickly and may be due to big clients following the signal.. Bones is pointing out that if you were selling massive orders (institutional size) on usd/nok and there was not enough buyers at the market price to fulfil the sell order (low liquidity), then the laws of supply and demand and market liquidity dictate that price would be marked DOWN and not upwards to find more buyers. So if anything price should have shot down and not upwards in the circumstances of...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #138,110
  • Jan 9, 2016 9:26am Jan 9, 2016 9:26am
Quoting NaughtyPip
{quote} Mbqb11 said that when the sell signal for usd/nok was sent out, price moved up quickly and may be due to big clients following the signal.. Bones is pointing out that if you were selling massive orders (institutional size) on usd/nok and there was not enough buyers at the market price to fulfil the sell order (low liquidity), then the laws of supply and demand and market liquidity dictate that price would be marked DOWN and not upwards to find more buyers. So if anything price should have shot down and not upwards in the circumstances of...
Hey NP

Yes you guys are correct again depending on what other orders are out there when that liquidity comes in we can't really know.

you can have BOTH situations occur. Once you have willing selling or buyers jump in then price can get filled all the way up to. Any buyers willing to come in will have willing sellers flowing into the market. The Alerts were sent and if people follow they have to get to their platform and everyone is clicking market order sort of one after the other rather then all at once like on the take profit order which was a different more violent spike

The tipping point for me was really on the buy back. The PA spike we had. Again Maybe/Maybe not can we truly know? Of course not. But I will say that the PA was funkier then i'm used to with my size order. We had a lot of people receive it and we know the account sizes of many of them. it's a LOT of money. Lot more then I trade myself combined. It was the only fixed target in everything(the take profit had been set). So that price was set members would have likely set theirs as well causing that spike cause everyone was trying to get filled.

Again it's NEW for me to send out a mass call that could be followed by as of this moment 458 people . So I was closely watching the PA on these points and they seemed very dramatic for the instances of buying/selling. Again we don't advertise for people to follow our ideas. But do you think many would and if you do even small math that can be a lot of money to hit the market in the SHORT term

I am not making a claim outside of that the price reaction seemed unique for the points that were triggered. It's certainly something I have to watch. I cant be sending an alert out on a random stock that's low liquidity that's for sure.


Enjoy the weekend
Mike
  • #138,111
  • Jan 9, 2016 9:36am Jan 9, 2016 9:36am
for those interested in the actual trade, most trades I take are pretty thought out and not spur of the moment. So here was my earlier chart leading into it that was hunting for just the proper PA as the tipping point

I had posted this the day before, then I set alarms at the area I want to watch for PA

I think people make a HUGE mistake sitting at their computer seeing a lot of action and trying to jump right in. A good area usually takes enough time to develop that you can preplan a lot of what you do.


Enjoy the weekend folks!
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 1-6-2016-6-47-13-PM-1 (1).gif Size: 43 KB
  • #138,112
  • Jan 9, 2016 9:39am Jan 9, 2016 9:39am
another example, I just keep it on a watch list with an alarm set. The only tough part is dragging yourself out of bed in the middle of the night most of the time

Good accurate patterns are what I use. Then I can just sit and wait for some good PA in this case
Attached Image (click to enlarge)
Click to Enlarge Name: 1-9-2016 10-38-06 AM.gif Size: 25 KB
  • #138,113
  • Jan 9, 2016 11:10am Jan 9, 2016 11:10am
Mike with due respect and all honesty ,that spike would have happened if you traded or not , I'm guessing of all those that traded it from j16 many would never even make it to real market ,and I can not see opening a new sell could push price higher ,
you can read possibly a shake out ,or test after test its all the same thing
buy back is a stock reference ,where by a company supports itself artificially creating demand buying up the selling ?
of course its a great start and good call ,I have respect but not so much if then hype mounts up around it

Quoting mbqb11
{quote} Hey NP Yes you guys are correct again depending on what other orders are out there when that liquidity comes in we can't really know. you can have BOTH situations occur. Once you have willing selling or buyers jump in then price can get filled all the way up to. Any buyers willing to come in will have willing sellers flowing into the market. The Alerts were sent and if people follow they have to get to their platform and everyone is clicking market order sort of one after the other rather then all at once like on the take profit order which...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #138,114
  • Jan 9, 2016 11:34am Jan 9, 2016 11:34am
Quoting Bones
Mike with due respect and all honesty ,that spike would have happened if you traded or not , I'm guessing of all those that traded it from j16 many would never even make it to real market ,and I can not see opening a new sell could push price higher , you can read possibly a shake out ,or test after test its all the same thing buy back is a stock reference ,where by a company supports itself artificially creating demand buying up the selling ? of course its a great start and good call ,I have respect but not so much if then hype mounts up around...
I hear ya bones

At the end of the day i'm just doing what I do. Sharing my trades to help. It's just interesting to be doing your own trading and over night swinging a much larger size(imagine on your next trade possibly 400+ people decided to follow along with you, it's not easy). It's not something I want to ignore thinking about. But the most important thing will just be trading the way I always trade

It's nothing new, i've done it for years now

Enjoy the weekend
Mike
  • #138,115
  • Jan 9, 2016 11:56am Jan 9, 2016 11:56am
no I see pressure there Mike ,due respect

Quoting mbqb11
{quote} I hear ya bones At the end of the day i'm just doing what I do. Sharing my trades to help. It's just interesting to be doing your own trading and over night swinging a much larger size(imagine on your next trade possibly 400+ people decided to follow along with you, it's not easy). It's not something I want to ignore thinking about. But the most important thing will just be trading the way I always trade It's nothing new, i've done it for years now Enjoy the weekend Mike
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #138,116
  • Jan 9, 2016 3:42pm Jan 9, 2016 3:42pm
I can't resist responding to the suggestion that J16 may have institutional impact. First even if there was a substantial number of traders entering trades based on a J16 call it is unlikely that even the total sum would ever get close to institutional size. Most of the traders are on demo accounts or small live accounts that really amount to nothing more than retail even on a thinly traded pair as that mentioned. The discussion is really quite laughable. The real institutional traders and market movers are only too happy to take the other side of your "huge" trades.
  • #138,117
  • Jan 9, 2016 5:33pm Jan 9, 2016 5:33pm
Quoting Winston Reed
I can't resist responding to the suggestion that J16 may have institutional impact. First even if there was a substantial number of traders entering trades based on a J16 call it is unlikely that even the total sum would ever get close to institutional size. Most of the traders are on demo accounts or small live accounts that really amount to nothing more than retail even on a thinly traded pair as that mentioned. The discussion is really quite laughable. The real institutional traders and market movers are only too happy to take the other side...
Absolutely. Also, this thread has been open for years and I've yet to come across one shred of evidence (e.g. verifiable live results or audited statements) to prove that James and/or his minions actually profit on a consistent basis. James16 makes the bulk of his money off of members.
  • #138,118
  • Jan 9, 2016 6:40pm Jan 9, 2016 6:40pm
Quoting forextrades
{quote} Absolutely. Also, this thread has been open for years and I've yet to come across one shred of evidence (e.g. verifiable live results or audited statements) to prove that James and/or his minions actually profit on a consistent basis. James16 makes the bulk of his money off of members.
Then don't waste another second of your life on this thread. You aren't morally responsible for others, especially those who don't want saving.
  • #138,119
  • Jan 9, 2016 7:22pm Jan 9, 2016 7:22pm
Quoting forextrades
{quote} Absolutely. Also, this thread has been open for years and I've yet to come across one shred of evidence (e.g. verifiable live results or audited statements) to prove that James and/or his minions actually profit on a consistent basis. James16 makes the bulk of his money off of members.
The proof is in the pudding/doing. Who cares about others people's acct. statements etc. lol. Folks are either profiting or not with this free method. I don't care if James 16 has been a demo trader all these years, the info here is very useful. Only by doing will a trader find their truth. Action.

My winning trades hitting their targets out strip my losers. So I see this simple (not easy) method works for me. But, I was getting into trouble with my losers mid last year, by not watching my risk. Am now aggressively keeping risk small and not accepting big/full bar losses any more. Focusing more on my risk and letting the pips take care of themselves on the winners. This matters to me only. I can only continue to do what works for me.

Anyone sticking with this simple method will see it works, and how with practice and patience, it can work for them. But the impatient trader will not be profitable, as with any method.

Don't worry what others are saying. Just do.

Best wishes, GB.
'Fail to plan, plan to fail'
  • #138,120
  • Edited 8:33pm Jan 9, 2016 8:19pm | Edited 8:33pm
Quoting Guitarbloke
{quote} The proof is in the pudding/doing. Who cares about others people's acct. statements etc. lol. Folks are either profiting or not with this free method. I don't care if James 16 has been a demo trader all these years, the info here is very useful. Only by doing will a trader find their truth. Action. My winning trades hitting their targets out strip my losers. So I see this simple (not easy) method works for me. But, I was getting into trouble with my losers mid last year, by not watching my risk. Am now aggressively keeping risk small and...
​It matters Guitarbloke. It shouldn't be a crime to request evidence of profitability. Sure one can deny to provide evidence. America is a free country so far. But the denial is evidence in itself that something is awry. One can obtain education in nursing, architecture, engineering or a trade such as welding, electrician or plumbing and guess what. You absolutely know that when you graduate you will in the vast majority of cases obtain employment that will result in a paycheck. If you invest in any other legitimate fund you can request a prospectus and performance history and make an informed choice about whether or not you want to invest. Only in trading can you hang your shingle, say that you know how to trade ( in the most elaborate ways as evidenced with J16) and ask for OPM without revealing any substantiated evidence that even you (the one hanging the shingle) is making money via trading rather than membership fees. This is a crime. Not those asking for evidence. I will stand down and eat my words and publicly apologize if Mike, Jim and the new kid on the block Kevin offers publicly verifiable evidence that what they teach is making them money that can at least beat the S&P 500 over the long term, say a minimum of 3 to 5 years minimum. I know that will not happen though because they can't and they won't. They are perfectly comfortable taking the money of all the poor souls in this thread and even asking more to fund their charities and foundations in an attempt to moralize and legitimize their venture.

In addition to showing undeniable proof that Mike, Jim and Kevin can beat the S&P 500 with the trading techniques they teach I will voluntarily relinquish my lifetime membership with J16 and make a contribution to their foundation to show that my intentions are not just to be difficult but are with merit. If you promote a website, collect fees from members because they think your methods are profitable then you are obligated to provide evidence. If you can't then you are the criminal or the scammer or whatever you want to call people like you who sell snake oil.

If not then I plan to continue a campaign to expose the illegitimacy of promoting a website asking for membership fees that suggest the individual paying the fees has a reasonable expectation of profiting from the "educational" material promoted by the website. I will do so in my state legislature and in any other way possible to expose the criminality of such ventures.
40 traders viewing now