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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

  • #3,461
  • Apr 30, 2007 3:06pm Apr 30, 2007 3:06pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Thanks alot seek, I was just a bit excited as the diff in the lows is just 1 pip.
To be honest, I feel much better trading the PB, their good setups are easy to spot and they are very rewarding.

I think I should stick to the basics .

Thx again
  • #3,462
  • May 1, 2007 12:34am May 1, 2007 12:34am
vmaranhao, thank you again for your work.
  • #3,463
  • May 1, 2007 4:09pm May 1, 2007 4:09pm
sugar, london no.5
pin off 61 fib after swing low.
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  • #3,464
  • May 1, 2007 4:18pm May 1, 2007 4:18pm
i've seen a lot of talk around here about an overpriced and overbought australian dollar but so far no real fall.

but i do see an i4b on the daily...beware of strong support around 0.8230
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  • #3,465
  • May 1, 2007 4:24pm May 1, 2007 4:24pm
aud/eur.
another i4b - this one has trend line support just below along with the 38 fib of the entire move up.
and just above we have a key s/r pivot.
i'm tempted to play a break of either here.
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  • #3,466
  • May 1, 2007 4:29pm May 1, 2007 4:29pm
round up of other charts.

I'll just post a few other setups i noticed and if anyone is interested they can check them out themselves.

us indices showing pins - i particularly like the one on the russ 2k.

usd/cad - double bottom (to the pip on my platform) indicating strong support at that level (at least in the short term).
a move up could be on the cards tomorrow...

and finally, the one that everyone already knows about:

yes, it's the gbp/usd - long nose pin setup on my charts although i don't see a huge deal of confluence - at a push i can see the nose pushing through the 61 fib from the all time high to the recent low...

so many setups....so little margin...


enjoy!

tom
  • #3,467
  • May 1, 2007 8:42pm May 1, 2007 8:42pm
this is what I see on the daily chart at the moment. A fib retracement at 78.6% from the high to low of the move from the last few weeks and the fib levels on the "potential" pin bar looking for a retrace to the 50% or 61.8% levels on the "potential" pin bar.

Something to watch...

A
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  • #3,468
  • May 2, 2007 2:57am May 2, 2007 2:57am
Quoting AlexFX
this is what I see on the daily chart at the moment. A fib retracement at 78.6% from the high to low of the move from the last few weeks and the fib levels on the "potential" pin bar looking for a retrace to the 50% or 61.8% levels on the "potential" pin bar.

Something to watch...

A

Good catch Alex. I drew that .786 just in time, but that was right ahead of news. Managed to ditch part of my cable longs just as a 1h PB formed and news put everything into warp drive, had to close the rest for not so much anymore after the mayhem was over. 4h made a BEOB, daily the PB you posted.
This one was without retrace, so if you didn't enter on break, you missed it.
Remember, if you did enter on break, the proper size for you risk remains 1-2% distributed over the full size of the pin(i.e. quite small per pip as stop is around 110 pips).
Trust price. Know yourself.
  • #3,469
  • May 2, 2007 3:40am May 2, 2007 3:40am
Quoting SeekingLight
Good catch Alex. I drew that .786 just in time, but that was right ahead of news. Managed to ditch part of my cable longs just as a 1h PB formed and news put everything into warp drive, had to close the rest for not so much anymore after the mayhem was over. 4h made a BEOB, daily the PB you posted.
This one was without retrace, so if you didn't enter on break, you missed it.
Remember, if you did enter on break, the proper size for you risk remains 1-2% distributed over the full size of the pin(i.e. quite small per pip as stop is around 110 pips).
Hey Seeking,

Cheers, I'm going through many pairs so I may post a few more as they reveal themselves. I have been enjoying the posts on here from you and the many other selfless individuals....

All the best of pips to you

A
  • #3,470
  • May 2, 2007 5:32am May 2, 2007 5:32am
Quoting vmaranhao
New version.

- Outside Bar changed to Bearish Outside Vertical Bar (BeOVB) and Bullish Outside Vertical Bar (BuOVB)

- Market Structure High / Low included

- Parameter to change position of labels included

- Minor fixes

Enjoy

VM
Hi Vmaranhao,
Thanks for the updated version on this......
One question can you expand on what the PA "Market Structure High / Low" means I have not come accross this one as yet am still going through the thread so maybe it is brought up later on .....????
Or is it a PF method ??
Stay Lucky Mimas.
  • #3,471
  • May 2, 2007 5:47am May 2, 2007 5:47am
Quoting the_wizard
round up of other charts.

I'll just post a few other setups i noticed and if anyone is interested they can check them out themselves.

us indices showing pins - i particularly like the one on the russ 2k.

usd/cad - double bottom (to the pip on my platform) indicating strong support at that level (at least in the short term).
a move up could be on the cards tomorrow...

and finally, the one that everyone already knows about:

yes, it's the gbp/usd - long nose pin setup on my charts although i don't see a huge deal of confluence - at a push i can see the nose pushing through the 61 fib from the all time high to the recent low...

so many setups....so little margin...


enjoy!

tom
fantastic calls wiz, I hope you rode those trains...I missed the cable entry and it never came back, Im thinking about shorting cad if it pulls back to the 61 fib somewhere around 1.1155-60, the downtrend is too strong to trade against imho...great pipping to the others I see have been taking advantage of J16's great methods...have a nice day everyone ciao
Never say never.
  • #3,472
  • Edited 3:20pm May 2, 2007 2:04pm | Edited 3:20pm
Hi everyone,

Just thought I'd make an update on the calls I made last night - so those (including me) that are still reading and learning don't have to manually check the charts to see if these setups worked.

Sugar: -4 points (stop required:58)
AUD/USD: +8 points (stop required:61)
AUD/EUR: -11 points (stop required: 37)
USD/CAD: -38 points (stop required:72)
GBP/USD: +84 points (stop required:99)
Russ 2k: +119 points (stop required:109)

Win: 211 points
Loss: 53 points

All positions taken 1 tick above/below previous session high/low.
All profit/loss includes spread.

+++++
As an aside, I would note that every single one of those positions (apart from sugar which fell victim to a the spread being almost as wide as the move up) went significantly into profit and if you trade as james teaches rather than hold in the hope for more, as I do, you could have taken pips off the table and most likely got a stop to BE on those losers.
+++++

Tom
  • #3,473
  • May 2, 2007 2:48pm May 2, 2007 2:48pm
Quoting the_wizard
Hi everyone,

Just thought I'd make an update on the calls I made last night - so those (including me) that are still reading and learning don't have to manually check the charts to see if these setups worked.

Sugar: -4 points
AUD/USD: +8 points
AUD/EUR: -11 points
USD/CAD: -38 points
GBP/USD: +84 points
Russ 2k: +119 points

Win: 211 points
Loss: 53 points

All positions taken 1 tick above/below previous session high/low.
All profit/loss includes spread.
Would be interesting to see the stop size needed for the trades as well if you're listing the netted pips.

Technically the USDCAD inside bar on daily isn't stopped out yet, although it may still very well be. IB are a very ambivalent thing to me...


There was a bullish 4h PB on USDCAD that went +40 before making a bearish PB on 4h again, which in turn then also moved 45+ pips and has so far shown no contrary PA.

First stop was 50, second 35 pips.
The second PB was the better one, as it was in direction WITH the long and short term downtrend and came right off 1.1130 s/r and big scale .786 (touch from below).
Also the first 4h PB did not nose down into a new low but rather was inside the prior low as well.

I traded neither as I am still short from originally 1.1500 and am simply watching this from the sidelines, but there have been tons and tons and tons of additional short setups along the way, almost all PBs on 1h or 4h.
Could have aggressively traded most or all of those..

Watching EURUSD, USDCHF and AUDUSD for tonight..suspicious stuff however.
Trust price. Know yourself.
  • #3,474
  • May 2, 2007 3:05pm May 2, 2007 3:05pm
Hi everyone,

There are a lot of setups that I see. I use the IBFX and Gimex (gold/silver) demo servers on MT4. Here they are:

EUR/GBP - Two bar pin forming on the daily. (There is still approx 240min left for the daily pins, however.)

EUR/USD - Daily pin off support.

USD/CHF - Daily pin off resistence.

AUD/USD & NZD/USD - might form into daily pins off of support.

GBP/USD - Very nice 4H pin off of support. The eyes are level at the moment, but it hasn't broken up yet. If it does, it will most likely turn into a daily pin. I'm watching this setup very closely.

GBP/CHF - Two bar pin on the daily, if it closes as such.

USD/CAD - Watching the daily two bar low for a break.

XAU/USD - 4H two-bar pin. Daily pin. Off support and fib confluence. Watching this one very closely as well.

XAG/USD - Same as gold.


Let me know what you guys think. Still learning.

-Paul


P.S. - After reading SL's post a moment ago, I remembered what I forgot to add.

Yes, it does look a little suspicious. All of these pins are making the USD look weak, yet these daily setups will all culminate at about the same time as tomorrows major USD news release...
Suspicious indeed.
  • #3,475
  • May 2, 2007 3:30pm May 2, 2007 3:30pm
Quoting SeekingLight
Would be interesting to see the stop size needed for the trades as well if you're listing the netted pips.
Ok, I amended my orignal post to include the number of points risked, In a way, I guess you have proved the point you set out too: points won don't tell the full story. 119 points in the Russ 2k doesn't seem so impressive when it takes 109 points risk to make it. However, I would say that none of those points risked are too large (providing you use proper money management) and since this is only the first day, I would say its looking very good since none of these have been, or are even close to being stopped out.

At any rate, I'm going to post a chart of the russ 2k because for me, it was the star of the day.

Yesterday price heads into support/resistance pivot and forms a positive pin not far above it.

At the same time there is several levels of fib confluence. You can fib it from almost every correction it made on that climb up and the nose of the pin almost touches a level. I only fibbed once on the chart so it doesnt become a mess - in this case it comes to the 38 of the whole move before reversing.

I think this was a very good opportunity to get on board the US indicies which have been at all time highs lately.

I personally didn't take this - I had margin constraints and went for the cable pin taking 70 pips profit.

Tom
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  • #3,476
  • May 2, 2007 4:05pm May 2, 2007 4:05pm
gold

pin bar off of short term s/r pivot and not too far from main trend line
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  • #3,477
  • May 2, 2007 4:46pm May 2, 2007 4:46pm


jim

Quoting the_wizard
Hi everyone,

Just thought I'd make an update on the calls I made last night - so those (including me) that are still reading and learning don't have to manually check the charts to see if these setups worked.

Sugar: -4 points (stop required:58)
AUD/USD: +8 points (stop required:61)
AUD/EUR: -11 points (stop required: 37)
USD/CAD: -38 points (stop required:72)
GBP/USD: +84 points (stop required:99)
Russ 2k: +119 points (stop required:109)

Win: 211 points
Loss: 53 points

All positions taken 1 tick above/below previous session high/low.
All profit/loss includes spread.

+++++
As an aside, I would note that every single one of those positions (apart from sugar which fell victim to a the spread being almost as wide as the move up) went significantly into profit and if you trade as james teaches rather than hold in the hope for more, as I do, you could have taken pips off the table and most likely got a stop to BE on those losers.
+++++

Tom
  • #3,478
  • May 2, 2007 6:19pm May 2, 2007 6:19pm
Quoting isitrue
EUR/GBP - Two bar pin forming on the daily. (There is still approx 240min left for the daily pins, however.)
EUR/USD - Daily pin off support.
USD/CHF - Daily pin off resistence.
AUD/USD & NZD/USD - might form into daily pins off of support.
GBP/USD - Very nice 4H pin off of support. The eyes are level at the moment, but it hasn't broken up yet. If it does, it will most likely turn into a daily pin. I'm watching this setup very closely.

GBP/CHF - Two bar pin on the daily, if it closes as such.
USD/CAD - Watching the daily two bar low for a break.
XAU/USD - 4H two-bar pin. Daily pin. Off support and fib confluence. Watching this one very closely as well.
Boy, I'm gonna be the sourpuss of this thread real soon...

Apologies.

On my IBFX, one hour before close, these are my views, not setups necessarily or recommendations:

EURGBP BUOB and the cable 4h PB violating the left eye low => higher EURGBP could push cable down further unless we get some pressure back on the USD.

EURUSD -> PB only by proxy, would much prefer to see a close above 1.3588 s/r.

USDCHF wobbly PB off .786 on strong 1.2115 pivot or s/r, would rather see 1.2115 go for good first.

AUDUSD and NZDUSD not convincing, the latter a BEB, the former only a very evil PB by proxy if at all - it's 23 pips from the low, 29 from the high right now...eeek.

USDCAD I got an IB by 1 pip yesterday which broke up and is now back inside. Depends on whether that pip makes it a TBL or IB

GBPCHF also about to make an IB, COULD be taken as a 2 bar PB in the middle of this for a possible larger daily head and shoulders? Dunno...my spread on this is terrible anyway, so I don't look too close

As for GBPUSD, this will be interesting. We look to be closing 105 pips down today as a BEB on daily vs that 4h PB with 60 pips that is largely overruled by this...

Have the same Gold PB, but spread on that is terrible, too here. Have 672$ s/r, 670$ possible outside eye...

Good work isitrue =)

And the_wizard, I wasn't trying to be mean, I'm just fighting this general tendency of people counting their pips instead of their profit..all those threads with "5000 pips a month!" and really they get the same profit or less as someone possibly with 500...since they use 100 pip stops for all trades plus spread or something...just can be misleading, is all
If you can get a 1:1 out of a good looking trade, that's already pretty good and that r2k you posted looks quite nice. =)

Guys, keep it up, you're doing really well.

Take care,

SeekingLight
Trust price. Know yourself.
  • #3,479
  • May 2, 2007 7:04pm May 2, 2007 7:04pm
Some charts to consider...
Attached Images
  • #3,480
  • May 2, 2007 8:36pm May 2, 2007 8:36pm
Thanks for the critique, SeekingLight. I agree that some of the setups are a bit iffy. So far, the EUR/USD is pretty good (4h and daily pins), I like how USD/CHF looks, and of course gold/silver. I just hope that the news releases tomorrow morning won't mess it all up!

AlexFX, thanks for the charts.


-Paul
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