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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

  • #141,841
  • May 5, 2018 2:36pm May 5, 2018 2:36pm
Richadi IMO this is a great area to watch for PA. I never say that i only watch for sell, but if the thursday bar was a BEOB i would probably take it


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Redmond be careful the AUD/ USD and EUR/JPY pinbars were at swing low. We want to take a short trade from a swing high
  • #141,842
  • May 5, 2018 5:32pm May 5, 2018 5:32pm
Hey F.just thought I'd post a reply by Mike(mbq11) on boxes.But it doesn't mean your method is wrong.
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  • #141,843
  • May 6, 2018 10:36am May 6, 2018 10:36am
I had a question about trading this strategy-

James16 talks about starting out trading W1 and D1 only. What chart are we supposed to look for the candlestick patterns on?

Are we supposed to look for trend on W1 and then look for candlestick patterns for entry on the D1?

Or do we look for trend on W1 and can we also enter based on candlestick patterns on the W1 (and ignore D1)?
  • #141,844
  • Edited 12:32pm May 6, 2018 10:46am | Edited 12:32pm
Quoting florinellz
Redmond be careful the AUD/ USD and EUR/JPY pinbars were at swing low. We want to take a short trade from a swing high

On the AUDUSD trade - I was looking at a buy based on the D1 candle from a couple of days back. This would be a long trade from a swing low? Was my thought process correct, considering a more recent pinbar formed pointing in the opposite direction?

I'm also confused about timeframe - can you check my question above?

I was basing the EURJPY trade based on candlestick patterns on the W1 - was this correct? or should be looking at the shorter timeframe of D1 for candlestick patterns to enter trades?
  • #141,845
  • May 6, 2018 12:35pm May 6, 2018 12:35pm
AUDUSD long - pinbar at swing high - trading in opposite direction of pinbar
pinbar appears at area of support and resistance and near S2 pivot
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  • #141,846
  • May 6, 2018 12:44pm May 6, 2018 12:44pm
USDJPY long - pinbar at S3 pivot and support and resistance line
trade in direction opposite of tail
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  • #141,847
  • May 6, 2018 12:44pm May 6, 2018 12:44pm
UK 100 D1 watching for PA at 7600 PPZ


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Redmond since we are debating USD/SGD i will use a chart from this pair to show some pinbars from swing low(SL) and swing high(SH)


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as for PA and what timeframe to use i only say this: if you have a PA on weekly, take the trade based on that PA;if you have a PA on D1 take a trade based on that PA and so on.

P.S. in my feed in EUR/JPY that was not a pinbar( it has a lower low than previous bar
  • #141,848
  • May 6, 2018 12:50pm May 6, 2018 12:50pm
USDCAD short - pinbar at support resistance line / R3 pivot / .5 fib level
trade in direction opposite of tail
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  • #141,849
  • May 6, 2018 12:52pm May 6, 2018 12:52pm
GBPUSD long - not sure about this one - there's a pinbar (I think?) at S1 pivot and .386 fib level
the pinbar may not be a pinbar though as the body is in the middle and not towards one of the ends?
also it's not on any support and resistance level, although there's other confluence
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  • #141,850
  • May 6, 2018 12:56pm May 6, 2018 12:56pm
GBPCHF short - there's a bearish outside vertical bar a couple days back
not sure about this one
BEOVB is on R1 pivot point and .236 fib level - also on 200EMA - but not really on any support and resistance lines
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  • #141,851
  • May 6, 2018 12:57pm May 6, 2018 12:57pm
Quote
as for PA and what timeframe to use i only say this: if you have a PA on weekly, take the trade based on that PA;if you have a PA on D1 take a trade based on that PA and so on.

Thanks that helps.

How important is it that candle pattern appears at swing hi or swing low? if we see a valid candle pattern at an area of confluence, even if not at swing hi or swing lo - is it ok to trade?
  • #141,852
  • May 6, 2018 1:12pm May 6, 2018 1:12pm
Quoting florinellz
P.S. in my feed in EUR/JPY that was not a pinbar( it has a lower low than previous bar
will lower low than previous bar invalidate the pinbar? I've been using this pdf https://www.forexfactory.com/attachm...2&d=1439961556 and posts from this thread to get pin bar strategy, would be good to get some clear rules about what constitutes pin bars.

I wish I would have saved this reply - but in one of his posts James says - 'if pinbar breaks the trendline then the trade is a go'

So for the EURJPY short chart - I circled at the swing low where it looks like there might be 2 pinbars? both indicating bearish. Thanks for any advice.
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  • #141,853
  • May 6, 2018 1:16pm May 6, 2018 1:16pm
Quoting redmond007
{quote} Thanks that helps. How important is it that candle pattern appears at swing hi or swing low? if we see a valid candle pattern at an area of confluence, even if not at swing hi or swing lo - is it ok to trade?

Redmond IMO is very important because if i take a buy trade at swing high my trade would have no space. here is a video from J16 group about space and traffic

Inserted Video
  • #141,854
  • May 6, 2018 1:32pm May 6, 2018 1:32pm
Redmond IMO if have a lower low is not a pinbar; and yes if you combine that 2 bars the result are a 2 week pinbar. But that doesn't mean that you need to trade that. IMO the FTA is to close; also you don't have a PPZ and a confluence there. look at 134.5 area that was a great area to watch for PA

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  • #141,855
  • May 6, 2018 11:30pm May 6, 2018 11:30pm
Quoting redmond007
USDCAD short - pinbar at support resistance line / R3 pivot / .5 fib level trade in direction opposite of tail {image}
UC trading in a range.Look left Red,bar highs and lows.And get rid of all those indi's,they'll just confuse you.
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  • #141,856
  • May 7, 2018 9:49am May 7, 2018 9:49am
Quoting mallee
{quote} UC trading in a range.Look left Red,bar highs and lows.And get rid of all those indi's,they'll just confuse you.{image}
Yeah I cancelled the UC trade. I think I am forcing trades right now, looking for opportunities, and taking not so good setups. The reason I think is I'm eager to add money to my small demo account.
  • #141,857
  • May 7, 2018 1:01pm May 7, 2018 1:01pm
USD/PLN H1 box i'm watching for PA at the top of the box

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Redmond don't force yourself to take multiple trades. That is going to bankrupt your account, not building a big account. IMO you should read post 1. Also for the next 2 months only take 3 trades a months from daily and weekly perspective.

Mallee great advice indicators tend to confuse us more. PA and S+R is the key to start making money
  • #141,858
  • May 7, 2018 1:09pm May 7, 2018 1:09pm
Redmond here is an example of why we want to trade a buy trade from a swing low. USD/JPY( who also you posted yesterday but i don't see that post) the FTA(first trouble area) is only a 30 pips away

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  • #141,859
  • May 7, 2018 2:08pm May 7, 2018 2:08pm
Quoting florinellz
Redmond don't force yourself to take multiple trades. That is going to bankrupt your account, not building a big account. IMO you should read post 1. Also for the next 2 months only take 3 trades a months from daily and weekly perspective. Mallee great advice indicators tend to confuse us more. PA and S+R is the key to start making money
If you are taking a trade from weekly charts - does that mean you will be taking a trade for more pips with a wider stop loss than you would from the daily?
  • #141,860
  • May 7, 2018 2:09pm May 7, 2018 2:09pm
Quoting florinellz
Redmond here is an example of why we want to trade a buy trade from a swing low. USD/JPY( who also you posted yesterday but i don't see that post) the FTA(first trouble area) is only a 30 pips away {image}

What is 'first trouble area'? is it a support or resistance level? or area where price is ranging?
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