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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

  • #12,861
  • Aug 20, 2008 7:05am Aug 20, 2008 7:05am
Quoting jarroo
I have different levels where I will take partial stop losses. 161.84, 161.52 and 160.79.


Ideally the best placement for a stop loss is just below the nose of the PB.
I think its in traffic go0d looking pin th0
  • #12,862
  • Aug 20, 2008 7:12am Aug 20, 2008 7:12am
Quoting ezz
I think its in traffic go0d looking pin th0
It's the biggest bus on the road.
Indicators show the past. Price Action "Indicates" the future.
  • #12,863
  • Aug 20, 2008 7:37am Aug 20, 2008 7:37am
Quoting ezz
I think its in traffic go0d looking pin th0
Seriously th0.

It has a lot of potential.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #12,864
  • Aug 20, 2008 7:56am Aug 20, 2008 7:56am
Quoting jarroo
Seriously th0.

It has a lot of potential.
Hows its weekly l0oking (th0 back at ya )
  • #12,865
  • Aug 20, 2008 8:00am Aug 20, 2008 8:00am
Quoting ezz
Hows its weekly l0oking (th0 back at ya )
Weekly could end up as a PB as well, with a strong PPZ. Still to early to say.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #12,866
  • Aug 20, 2008 11:00am Aug 20, 2008 11:00am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
I remember that SL mentioned before that the BUOB likes to retrace to 61.8....however interbankfx feed says that the BUOB has NOT been triggered yet, while NF says YES.... hmmm well I can't help it
Attached Image (click to enlarge)
Click to Enlarge Name: 61.8.gif Size: 13 KB
  • #12,867
  • Aug 20, 2008 12:17pm Aug 20, 2008 12:17pm
Quoting 2mas
I remember that SL mentioned before that the BUOB likes to retrace to 61.8....however interbankfx feed says that the BUOB has NOT been triggered yet, while NF says YES.... hmmm well I can't help it
Not that I don't use Fibs, but take a look at the previous daily closes/lows and where price today found support.
  • #12,868
  • Aug 20, 2008 12:18pm Aug 20, 2008 12:18pm
Quick question. James is using IBFX right?
  • #12,869
  • Aug 20, 2008 12:58pm Aug 20, 2008 12:58pm
Quoting HipsterPipster
Not that I don't use Fibs, but take a look at the previous daily closes/lows and where price today found support.
for euro usd we are currently sitting on 365 ema. I dont like the fact that its been tested for too long though. If it was a strong support, price would have jumped up from there. However, including the dark view of the europeans on the economy, I would say that this BUOB will fail tomorrow. Oh well, one more PA trade lost !
We leave no soldier behind.
  • #12,870
  • Aug 20, 2008 1:00pm Aug 20, 2008 1:00pm
Quoting permanentjaun
Quick question. James is using IBFX right?
yes i think so, i can recall him mentioning that a few of his posts ago...

anyways nice stuff Jarroo, and a great post by Bundy earlier on, let's keep this thing moving for the next 100 years! YEAH!

abt the Ej situation, i was thinkign and thinking abt that pin bar it is right on top of a nice ppz, an ema (i am going jarroo's chart on this one) and the nose touches the 50% fib, so i agree that the support is strong enough, but i still don't like the way the daily has behaved so far, i am thus glad i didn't enter, the fact which stopped me taking it was the activation problem on my feed i still don't see today's daily going convincingly above the pin. This certainly makes the case even more interesting, so where do we go?? time should tell...

BTW anybody already long Ej??
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 12 KB
I believe . . .
  • #12,871
  • Aug 20, 2008 1:04pm Aug 20, 2008 1:04pm
Quoting gagiul
for euro usd we are currently sitting on 365 ema. I dont like the fact that its been tested for too long though. If it was a strong support, price would have jumped up from there. However, including the dark view of the europeans on the economy, I would say that this BUOB will fail tomorrow. Oh well, one more PA trade lost !
hang on bro! why do you want to jump to such a strong conclusion just now, give PA some positive space...the bears have'nt yet crossed the line, wait for the break of the BUOB to the downside to confirm a lost trade, hope you have'nt closed the trade already...
I believe . . .
  • #12,872
  • Aug 20, 2008 1:28pm Aug 20, 2008 1:28pm
Quoting ghous
hang on bro! why do you want to jump to such a strong conclusion just now, give PA some positive space...the bears have'nt yet crossed the line, wait for the break of the BUOB to the downside to confirm a lost trade, hope you have'nt closed the trade already...
i havent. Im just dissapointed in the price reaction so far. I still have my stop is below the BUOB low and am also long EY btw. Im a newbie in J16 PA, so Im demoing all the PA formations until Im starting to get a feel for the A++ ones.
We leave no soldier behind.
  • #12,873
  • Aug 20, 2008 1:33pm Aug 20, 2008 1:33pm
Ghous, I am long on the EJ trade, following the pin bar.

I saw the same postives you noted, and took the trade. I guess I shall see how it plays out.
  • #12,874
  • Aug 20, 2008 2:16pm Aug 20, 2008 2:16pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Quoting HipsterPipster
Not that I don't use Fibs, but take a look at the previous daily closes/lows and where price today found support.
And that was another reason, for my decision... thanks Hipster, and of course thanks to Raczekfx
  • #12,875
  • Aug 20, 2008 2:38pm Aug 20, 2008 2:38pm
I, for one, am not taking the ej pinbar because of the heavy consolidation it has formed right above it (shaded in blue). It has to pass through a lot of traffic (resistance) to survive. It is also in a heavy downtrend.

*edit
Of course if it did manage to pass that area, it might go all the way up to 167.
Attached Image
  • #12,876
  • Aug 20, 2008 3:06pm Aug 20, 2008 3:06pm
On the weekly chart we have a strong bearish movement. I, personally, would like to see price drop down to around 159.20 and form price action there for a higher probability trade.
Attached Image
  • #12,877
  • Aug 20, 2008 6:18pm Aug 20, 2008 6:18pm
edit: sorry, already posted about EJ earlier =P
Hindsight is 20/20
  • #12,878
  • Aug 20, 2008 7:11pm Aug 20, 2008 7:11pm
Hello,
I've started reading this thread. I regret not reading it earlier. Can someone who has been following and trading this method please confirm that I understand it correctly.
step 1) Identify the chart patterns james has taught us. That is, dblhc, dbhlc, beovb, buovb and pin bars.
Step 2) see if they occur at s/r lines and trendlines.
step 3) see if they are at major fib levels.
step 4) see if step 2 and 3 occur at higher time frames.

If all above (basically the more confluence the better), then we enter the position. Is my understanding correct?
Also, how do you trade beovb? do you just enter at the open of the bar (third bar) after the pattern. Another question, how do you exit, do we exit at the next s/r level? how are the moving averages in james charts used? and how are the keltner channels used.

Does any post have a summary of the method.

Many thanks
  • #12,879
  • Aug 20, 2008 7:30pm Aug 20, 2008 7:30pm
Quoting gagiul
i havent. Im just dissapointed in the price reaction so far. I still have my stop is below the BUOB low and am also long EY btw. Im a newbie in J16 PA, so Im demoing all the PA formations until Im starting to get a feel for the A++ ones.

there you go...some nice bullish signs around, the daily closing with a nice tail to the south, eh? you need to take this as a lesson and understand the utmost importance of patience in this business
I believe . . .
  • #12,880
  • Aug 20, 2008 7:32pm Aug 20, 2008 7:32pm
Quoting eagle_eye
Hello,
I've started reading this thread. I regret not reading it earlier. Can someone who has been following and trading this method please confirm that I understand it correctly.
step 1) Identify the chart patterns james has taught us. That is, dblhc, dbhlc, beovb, buovb and pin bars.
Step 2) see if they occur at s/r lines and trendlines.
step 3) see if they are at major fib levels.
step 4) see if step 2 and 3 occur at higher time frames.

If all above (basically the more confluence the better), then we enter the position. Is my understanding correct?
Also, how do you trade beovb? do you just enter at the open of the bar (third bar) after the pattern. Another question, how do you exit, do we exit at the next s/r level? how are the moving averages in james charts used? and how are the keltner channels used.

Does any post have a summary of the method.

Many thanks
it still is not an exact science or a rule of thumb, although all of the above is true still the validity of the situations you mentioned don't make up the holy grail, i.e you're not guaranteed 100% success, you need to update your naked eye with experience and learn to trade what you see...
I believe . . .
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