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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

  • #8,401
  • Dec 27, 2007 1:23pm Dec 27, 2007 1:23pm
The 4 Hr Pin is stalling at the 62 ema... if it does not get past here, it is not likely we could end up with a usable daily PB...
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  • #8,402
  • Dec 27, 2007 1:54pm Dec 27, 2007 1:54pm
Quoting qiuhd
Hi friends, do you guys trade other price action except pin bar? thanks

Hey Giuhd,

There are many price action bar setups in this thread as taught by James16. They include TBH/TBL, DBHLC/DBLHC, BUOB/BEOB, IB/I4B

The pinbar is certainly the most popular

Take care

Mike
  • #8,403
  • Dec 27, 2007 9:02pm Dec 27, 2007 9:02pm
Hello-

Wondering if anyone has thoughts on this. I see a triple bar high, lower close on the daily CADCHF. It is within a few pips on each of the three daily bars.

We see this form at the 50% retracement of the recent high to low daily movement and the R1 (daily) pivot point and R1 (weekly) pivot point.

Any thoughts???
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  • #8,404
  • Dec 27, 2007 10:14pm Dec 27, 2007 10:14pm
break down, retrace to previous support.... short... (my favorites, next to fibs)
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  • #8,405
  • Dec 27, 2007 10:15pm Dec 27, 2007 10:15pm
The 4 Hr PB looks like its going to go afterall... !!!!
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  • #8,406
  • Dec 27, 2007 10:22pm Dec 27, 2007 10:22pm
Each move right to the fibs....

Quoting raczekfx
break down, retrace to previous support.... short... (my favorites, next to fibs)
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  • #8,407
  • Dec 27, 2007 10:40pm Dec 27, 2007 10:40pm
Quoting raczekfx
break down, retrace to previous support.... short... (my favorites, next to fibs)
same goes for g/j... pb break retrace ..... short (ppz, fib)
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  • #8,408
  • Dec 27, 2007 10:45pm Dec 27, 2007 10:45pm
This is the stuff to remember !!!!!!!!!!!!

Quoting raczekfx
same goes for g/j... pb break retrace ..... short (ppz, fib)
  • #8,409
  • Dec 28, 2007 12:47am Dec 28, 2007 12:47am
though i missed the jump, i'd like to post my setup before this PB take action.
white area is confluence.

any advice plz
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  • #8,410
  • Dec 28, 2007 5:00am Dec 28, 2007 5:00am
Hi guys,
What indicators do you use for identify res. & supp. I current use 2 fibs, 365 EMA, 150 EMA, 89 EMA, daily/weekly/monthly pivot, are those enough? I play 4H chart, daily chart's pin bar stop lose is too big for me.

Thanks a lot.

Qiu
  • #8,411
  • Dec 28, 2007 5:02am Dec 28, 2007 5:02am
Quoting pip_bagger
Hello-

Wondering if anyone has thoughts on this. I see a triple bar high, lower close on the daily CADCHF. It is within a few pips on each of the three daily bars.

We see this form at the 50% retracement of the recent high to low daily movement and the R1 (daily) pivot point and R1 (weekly) pivot point.

Any thoughts???
I took this one at 1.4577 but I moved my SL now to 1.4560 ... there might be a PB forming now in the 4 hour chart that could reverse the downwards movement so better watch that.
  • #8,412
  • Dec 28, 2007 6:44am Dec 28, 2007 6:44am
Quoting raczekfx
same goes for g/j... pb break retrace ..... short (ppz, fib)
this mt4 is of wich broker? there is not any pb in my mt4 form interbankfx
  • #8,413
  • Dec 28, 2007 8:39am Dec 28, 2007 8:39am
Quoting qiuhd
Hi guys,
What indicators do you use for identify res. & supp. I current use 2 fibs, 365 EMA, 150 EMA, 89 EMA, daily/weekly/monthly pivot, are those enough? I play 4H chart, daily chart's pin bar stop lose is too big for me.

Thanks a lot.

Qiu
Hey Qiu,

Yes those are enough (and some might even say too many).
But you don't need to use only indicators to identify supp & res.
Trendlines are great, as well as just visually looking for supp/res areas and drawing horizontal lines. (as in raczek's post above)

PS: I think daily charts are probably the best timeframe to trade on, especially when starting out with PA. The size of the stop loss should not matter as long as you use a fixed risk % for each trade and adjust your position size accordingly.

Tom
  • #8,414
  • Dec 28, 2007 9:09am Dec 28, 2007 9:09am
Quoting moneybags
Hey Qiu,

Yes those are enough (and some might even say too many).
But you don't need to use only indicators to identify supp & res.
Trendlines are great, as well as just visually looking for supp/res areas and drawing horizontal lines. (as in raczek's post above)

PS: I think daily charts are probably the best timeframe to trade on, especially when starting out with PA. The size of the stop loss should not matter as long as you use a fixed risk % for each trade and adjust your position size accordingly.

Tom
Thanks moneybags ,
I look at the chart, think it is too many too, but confluence of those line do not happen much with fewer lines, so how do you think about confluence?
  • #8,415
  • Dec 28, 2007 9:52am Dec 28, 2007 9:52am
Here I played PB on H1 timeframe. If you entered short on next bars open @ 9983 and bagged your profits @ 9913, though it fell a little more to 9901, you would have earned 70 pips. The PB formed nicely and hit 2.000 level and felt down nicely to the blue dot line @ 9913.


ps. when will you take new people inside your famylie James?


regards.
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  • #8,416
  • Dec 28, 2007 9:57am Dec 28, 2007 9:57am
Quoting qiuhd
Thanks moneybags ,
I look at the chart, think it is too many too, but confluence of those line do not happen much with fewer lines, so how do you think about confluence?
Well, everyone trades differentely so it really depends on each person.
Personally, I like my charts to be as clean (empty) as possible.
So what I do is draw the most obvious and significant (in my mind at least) trendlines, supp./res areas, and fibs. The problem with using too many pivots, fibs, MAs etc, is that you can come up with confluence in too many places.

You're right, the way I and some other people trade doesnt produce as many confluence areas. But the ones that do come up are usually very strong.
And if you're picking your trades well, you dont always need a lot of confluence (as in multiple pivots/MAs/fibs etc).

Tom
  • #8,417
  • Dec 28, 2007 11:35am Dec 28, 2007 11:35am
Well.. if you keep drwing lines on your charts, you are sure to come up with confluence somewhere eventually... this comes down to be almost like over analysing... the more you look for reasons to trade or not to trade... look hard enough, and you will find the reasons...

If there is going to be confluence... it probably will be fairly easy to find... and if you can't find any, then maybe the set-up really is not any good...

Quoting qiuhd
Thanks moneybags ,
I look at the chart, think it is too many too, but confluence of those line do not happen much with fewer lines, so how do you think about confluence?
  • #8,418
  • Dec 28, 2007 12:24pm Dec 28, 2007 12:24pm
Quoting giraia_br
this mt4 is of wich broker? there is not any pb in my mt4 form interbankfx
It’s NF, but it doesn't really matter what you use. You might get Beovb or something else..... What's important is to know where areas of s/r and confluence are and look for high probability trades.
  • #8,419
  • Dec 28, 2007 12:27pm Dec 28, 2007 12:27pm
This is another short trade I took last night and was really happy when I checked charts a couple of hours ago...
Initial entry was manual, aditional entry was pre-set order..
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  • #8,420
  • Dec 28, 2007 12:32pm Dec 28, 2007 12:32pm
Can you tell us how did you play this trade you took raczekfx? i dont see PB or DBHLC, how did you took this trade? explain a little please
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