james16 Chart Thread | Page 503 | 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

  • #10,041
  • Apr 14, 2008 10:05pm Apr 14, 2008 10:05pm
Quoting tyler812
Looks like the price has broken out of the ascending triangle and has retraced to the pivot zone; and a nice little pb has formed right on the ppz...

Thoughts/criticism anyone?

Tyler


Attachment
Don't see why not.

Just bounced off of Daily Pivot/38.2% ret area.
Butted up against yesterdays high and another ppz at the moment and floating around the 365 on the 15 minute . Should be right once over them.
Bundy's status today: "Waiting..."
  • #10,042
  • Apr 15, 2008 1:23am Apr 15, 2008 1:23am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, Mike

Just came across this post of yours,and happened to have a chart I think probably has something similar to what you were drawing. I attached the EURCHF daily for your advise. for this one, I have been wiped out for a couple of times, look at the breakout of IB and the trendline for the first trial, then, the standard Pin Bar no ideal location though as its retracement of test, now, I am considering another try,but, a little bit scared by so much fake signals.not for sure if you could lend me some of your insight to guide this potential trade through?

as always, I thank you for all the help


Quoting mbqb11
Hey Nico,

I PMed you as well. I will give you an example of how I trade breakouts, but for those that are in the James16 PF, will know it is a large topic so here is an example of a pair I am looking at.


The AUD/NZD has put in a sharp move down. Price has now entered into a retracement channel. So After this channel, breaks and retests the channel, we can look for confirming price action .
Attached Image (click to enlarge)
Click to Enlarge Name: breakout_retest.gif Size: 26 KB
  • #10,043
  • Apr 15, 2008 2:23am Apr 15, 2008 2:23am
hi all,

http://i279.photobucket.com/albums/k...o/audjpypb.gif

thnx
  • #10,044
  • Apr 15, 2008 2:26am Apr 15, 2008 2:26am
Nice pin bar but we have a weekly bearish Pin Bar which stops me taking longs.


Quoting CandlePower
hi all,

http://i279.photobucket.com/albums/k...o/audjpypb.gif

thnx
  • #10,045
  • Apr 15, 2008 2:33am Apr 15, 2008 2:33am
yes u r right....thnx for remind...i really didnt notice that.
  • #10,046
  • Apr 15, 2008 3:46am Apr 15, 2008 3:46am
Quoting krue
Hi, Mike

Just came across this post of yours,and happened to have a chart I think probably has something similar to what you were drawing. I attached the EURCHF daily for your advise. for this one, I have been wiped out for a couple of times, look at the breakout of IB and the trendline for the first trial, then, the standard Pin Bar no ideal location though as its retracement of test, now, I am considering another try,but, a little bit scared by so much fake signals.not for sure if you could lend me some of your insight to guide this potential trade through?

as always, I thank you for all the help
Hey Krue

I only trade breakouts with the trend. So that would be counter-trend breakout, which is a bit more aggressive. The IB, on the first breakout that sits on your TL never triggered, and the PB that did trigger is still valid. Although it is a bit up in the air. That is why I always trade with the trend on breakouts. Having the trend at your back ups the success rate greatly once you get used to it all. So I would stay out of longs on this one. If that most recent high breaks again, then I would be more likely to search for longs.

Mike
  • #10,047
  • Apr 15, 2008 5:02am Apr 15, 2008 5:02am
Hello fellow traders,


I am currently considering subscribing to the james16 group. I would greatly appreciate if some member of the james16 group could tell me (a) Roughly speaking how many videos are in the james 16 group ie is it less than or more than a 100. (b) Has most of the new information moved to a video format yet. I tend to learn best using videos as it brings dry information to light. So once I get an answer from a member about questions a,b above I will probably go ahead and subscribe. Many many thanks in advance ,



Andrew

http://www.forexfactory.com/images/misc/progress.gif

  • #10,048
  • Apr 15, 2008 6:14am Apr 15, 2008 6:14am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I understand now, the trend is still a downtrend, my perception was wrong then, therefore, what I thought an uptrend actually yet to form, no wonder it is still a counter-trend(even if the price is a little bit outside the channel) !!! what a good point it is, hey, Mike, you are indeed a pro, add so much clarity on my thinking process.beer beer beer, jugs jugs jugs...... if got opportunity, I have to buy your dozen jugs of beer, don't say you don't like beer, please......

the other point probably I still need your clarification, why would you think the breakout has to be triggered by the IB, instead of the BUOB( maybe, not so precise, but, for me, it seems look like a BUOB),even though I knew you don't trade outside bars and double high/low bars.


thanks million

Quoting mbqb11
Hey Krue

I only trade breakouts with the trend. So that would be counter-trend breakout, which is a bit more aggressive. The IB, on the first breakout that sits on your TL never triggered, and the PB that did trigger is still valid. Although it is a bit up in the air. That is why I always trade with the trend on breakouts. Having the trend at your back ups the success rate greatly once you get used to it all. So I would stay out of longs on this one. If that most recent high breaks again, then I would be more likely to search for longs.

Mike
  • #10,049
  • Apr 15, 2008 6:49am Apr 15, 2008 6:49am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Why would I think can play long by breakout of a downtrend without the awareness of high level of risk(or, say,go long while the reversal has not taken place)?

The point was not well thought,but,it implies a lot of confusion in understanding PB, or probably the other PAs.

My initial impression about PA seems a counter-trend per se, therefore, thought this could be a good tool to pick up top or bottom, I knew it is dangerous to pick top and bottom,but,under the belief of without PB. see, PB expanded my boundary to aventure riskier endeavour.now, I realise this is totally wrong. seems I have to go back to the TA basics in applying James' PA.

don't know whether my impression on PB were correct or not, correct me if I am wrong. however, this is how PB be perceived by myself.

As I said, a lot of concepts were still not very clear to me,or not in a logically organized manner, my thought about PA has not be well analyzed so far. I can see a lot of confusion there, I guess this might be typical for newbies, probably? if, anyone in this thread could explore further from this, it might be a good opportunity to do a hoursekeeping in understanding this powerful tool James is presenting, don't let the light of James' wisdon be shadowed,please. if we could not do well, it is our limitation, if not mistake, I guess. I wanted to talk more about PA concepts-confusion, limitation in understanding......, but, you knew, I have too much limitations - experience,language,intelligence, balabala,many to name. so, spell out what- ever it is, we can do better.

I thanks again here to Mike, he really casted a lot light to me
  • #10,050
  • Apr 15, 2008 7:02am Apr 15, 2008 7:02am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Sorry, it seems I am encouraged too much, therefore, post another one here to follow up what has been discussed with Mike. pardon me, throw so much things in this respectful thread.however, hope these effort could turn out to be a 1 cent contribution some day in near future.

Now, I am in a breakout trade, again, I see the breakout bar as type of BUOVB, got into the bus during retracement. and this is a trend following play. my gut feeling seems telling this one might be....... yeah, who knows, but, seemingly confidence is there. we will see

but, if I missed anything, please give me a shout. thank you, every body.
Attached Image (click to enlarge)
Click to Enlarge Name: i am in a breakout.gif Size: 17 KB
  • #10,051
  • Apr 15, 2008 7:12am Apr 15, 2008 7:12am
Quoting krue
hey, Mike, you are indeed a pro, add so much clarity on my thinking process.beer beer beer, jugs jugs jugs...... if got opportunity, I have to buy your dozen jugs of beer, don't say you don't like beer, please......

thanks million
Don't worry Krue, Mike likes beer and jugs.
  • #10,052
  • Apr 15, 2008 7:23am Apr 15, 2008 7:23am
Going back to some of your other questions Krue, the PB can be a counter-trend setup. But not always. It's actually best to play with the trend.
I think the reason why it may seem like it's a counter-trend setup, is because it's best played at retracements of the overall trend. So it looks like the Pin bar is going against the recent trend which may be true.
But most trends go in waves. So as a pair is uptrending (for example), it will have a smaller downtrend wave of a few days and that's where we would like to see a pin bar. And it may be on a trendline or a PPZ which is even better.

There's nothing wrong with the EURGBP trade you posted above. I get your line of thinking since there is a strong uptrend. Some people would play that too. Some would play the break and others would pass.
I wouldnt take that trade because I am a little more picky with my trades (probably too picky sometimes) and there is nothing special about the location. (this might turn out to be a great trade though, just not something I would take)
The location of PA is the most important part IMO.

Tom
  • #10,053
  • Edited 8:37am Apr 15, 2008 8:28am | Edited 8:37am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hey, Tom, good man, I always see your reply has been so pleasant. I fully admire your way of picking PA setup, it definitely will be my goal of doing so. currently, you knew well, as newbie, don't realise how deep the water is, when ever there be some sign of opportunity,can not refuse the impulse to participate in the messy party, I understand it takes time to be savvy identifying the real thing as you guys are doing, that's the difference btw pro and amature. you have my full respect. thanks, man


Quoting moneybags
Going back to some of your other questions Krue, the PB can be a counter-trend setup. But not always. It's actually best to play with the trend.
I think the reason why it may seem like it's a counter-trend setup, is because it's best played at retracements of the overall trend. So it looks like the Pin bar is going against the recent trend which may be true.
But most trends go in waves. So as a pair is uptrending (for example), it will have a smaller downtrend wave of a few days and that's where we would like to see a pin bar. And it may be on a trendline or a PPZ which is even better.

There's nothing wrong with the EURGBP trade you posted above. I get your line of thinking since there is a strong uptrend. Some people would play that too. Some would play the break and others would pass.
I wouldnt take that trade because I am a little more picky with my trades (probably too picky sometimes) and there is nothing special about the location. (this might turn out to be a great trade though, just not something I would take)
The location of PA is the most important part IMO.

Tom
  • #10,054
  • Apr 15, 2008 10:20am Apr 15, 2008 10:20am
Quoting moneybags
Going back to some of your other questions Krue, the PB can be a counter-trend setup. But not always. It's actually best to play with the trend.
I think the reason why it may seem like it's a counter-trend setup, is because it's best played at retracements of the overall trend. So it looks like the Pin bar is going against the recent trend which may be true.
But most trends go in waves. So as a pair is uptrending (for example), it will have a smaller downtrend wave of a few days and that's where we would like to see a pin bar. And it may be on a trendline or a PPZ which is even better.

There's nothing wrong with the EURGBP trade you posted above. I get your line of thinking since there is a strong uptrend. Some people would play that too. Some would play the break and others would pass.
I wouldnt take that trade because I am a little more picky with my trades (probably too picky sometimes) and there is nothing special about the location. (this might turn out to be a great trade though, just not something I would take)
The location of PA is the most important part IMO.

Tom
GREAT post, and thank you for your time of putting this information out there.

I have two questions relating to your post.

What moving averages do you use, and like to see for PB set-ups?

What is PPZ? I am guessing Pivot Points. If Pivot Points, do you just use standard calculated daily Pivot Points?
  • #10,055
  • Apr 15, 2008 10:21am Apr 15, 2008 10:21am
Quoting krue
Hey, Tom, good man, I always see your reply has been so pleasant. I fully admire your way of picking PA setup, it definitely will be my goal of doing so. currently, you knew well, as newbie, don't realise how deep the water is, when ever there be some sign of opportunity,can not refuse the impulse to participate in the messy party, I understand it takes time to be savvy identifying the real thing as you guys are doing, that's the difference btw pro and amature. you have my full respect. thanks, man
No problem Krue.
And although I'm not a newbie, I'm definitely not a pro.
But if you stick around this thread or even join the james16 website, you'll learn tons of things from real pros.
Like you said, it really takes time and experience.

take care,
Tom
  • #10,056
  • Apr 15, 2008 10:27am Apr 15, 2008 10:27am
Quoting unlv_tj
GREAT post, and thank you for your time of putting this information out there.

I have two questions relating to your post.

What moving averages do you use, and like to see for PB set-ups?

What is PPZ? I am guessing Pivot Points. If Pivot Points, do you just use standard calculated daily Pivot Points?
No problem.

Personally I don't use MAs much. But popular EMAs around here are the 150 and 365. Those two can provide support/resistance at times.

PPZ stands for Price Pivot Zone. It's basically an area that acts as both support and resistance (it's not related to the Daily calculated pivot points). If you look at Raczekfx's posts, you'll see he uses them quite a bit and very well. I think PPZs are crucial to identify and pay attention too (and take advantage of ). They are one of the top things I look for.

Tom
  • #10,057
  • Apr 15, 2008 10:32am Apr 15, 2008 10:32am
Quoting moneybags
No problem.

Personally I don't use MAs much. But popular EMAs around here are the 150 and 365. Those two can provide support/resistance at times.

PPZ stands for Price Pivot Zone. It's basically an area that acts as both support and resistance. If you look at Raczekfx's posts, you'll see he uses them quite a bit and very well. I think PPZs are crucial to identify and pay attention too (and take advantage of ). They are one of the top things I look for.

Tom
GREAT! Thank you again. I use the 8, 21, 89, 200 and 365 moving averages from the 4H MACD thread, so I wondered what moving averages many used over here. 150, I will need to add that to my daily and weekly charts.

Is there an indicator for the PPZ for MT4 attached to this thread/found on the net, or is it hand calcuated?

Thank you for your help!

T.J.
  • #10,058
  • Apr 15, 2008 10:36am Apr 15, 2008 10:36am
Quoting raczekfx
I'm not Picasso either..
Since we haven't recorded lower low today and Dow hasn't scared me much either, I'm seeing ########## on g/j.
We'll see....
One thing is certain; It will break out in the next few days.

p.s.
you know my yen trading is tied to chfs... ;-)
.

raczekfx,

What broker are you using? I am using MT4 on IBFX and my 4hr chart does not match yours from post 10042. Yours looks like shooting fish in a barrel!

Thanks,

D
  • #10,059
  • Apr 15, 2008 10:47am Apr 15, 2008 10:47am
Quoting volvo264
Hello fellow traders,


I am currently considering subscribing to the james16 group. I would greatly appreciate if some member of the james16 group could tell me (a) Roughly speaking how many videos are in the james 16 group ie is it less than or more than a 100. (b) Has most of the new information moved to a video format yet. I tend to learn best using videos as it brings dry information to light. So once I get an answer from a member about questions a,b above I will probably go ahead and subscribe. Many many thanks in advance ,



Andrew

http://www.forexfactory.com/images/misc/progress.gif

Hey Andrew, there are fewer than 100 videos currently. James has a boat load of charts posted diagramming his pa and ppz. He also does live web seminars about once a week, depending on his schedule.
  • #10,060
  • Apr 15, 2008 10:49am Apr 15, 2008 10:49am
Quoting unlv_tj
Is there an indicator for the PPZ for MT4 attached to this thread/found on the net, or is it hand calcuated?

Thank you for your help!
T.J.
Anytime TJ.

There is no indicator for PPZ drawing on MT4 that I know of. (but I wouldnt know for sure)
Most of the people do it by hand. With a little practice it's not hard to spot them. The good ones jump out.

Here's a quick example:
Attached Image
203 traders viewing now