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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

  • #16,001
  • Dec 2, 2008 7:13am Dec 2, 2008 7:13am
Quoting bundyraider
If someone wanted to call that a BUOB that's there choice, but I don't even consider a trade on a poor one like that. In my book that bar's barely bullish of neutral. lol

What I can do sometimes , if I'm convinced everything else supports it...

Next bar close after that one... ...With that sideways action (bar to bar), looking for a really good BUOB (Close in top 1/4 to 5th of bar) and with a convincing push above your suggested 12700 ( ) is the way to go. Ditto for a DBLHC. It's nice to see an above average push higher, and then...

cheers Bundy
have taken some less than perfect setups in the last two days, which have counter-acted the good ones
  • #16,002
  • Dec 2, 2008 7:26am Dec 2, 2008 7:26am
Quoting simoncs
cheers Bundy
have taken some less than perfect setups in the last two days, which have counter-acted the good ones
You're getting there.
You HAVE to work on being satisfied with holding back from trading when things aren't perfect. We've all been there. Hard habits to unlearn.

Don't be surprised if you're still having a problem with that a long long way down the track. lol
Bundy's status today: "Waiting..."
  • #16,003
  • Dec 2, 2008 7:32am Dec 2, 2008 7:32am
Quoting bundyraider
You're getting there.
You HAVE to work on being satisfied with holding back from trading when things aren't perfect. We've all been there. Hard habits to unlearn.

Don't be surprised if you're still having a problem with that a long long way down the track. lol
Sure thing! Simon don't feel bad! I am making some similar mistakes but plan to eliminate them in the coming days,

Don't forget that this business is tough. Far more tough then it at first appears to be. Read this, understand this, realize this and act accordingly, I am ready to face hundred such problems in my journey on the road by only looking ahead at a faint picture of myself 10 years from now...DAMN i'll be only 28!!!
I believe . . .
  • #16,004
  • Dec 2, 2008 7:37am Dec 2, 2008 7:37am
Quoting ghous
Sure thing! Simon don't feel bad! I am making some similar mistakes but plan to eliminate them in the coming days,

Don't forget that this business is tough. Far more tough then it at first appears to be. Read this, understand this, realize this and act accordingly, I am ready to face hundred such problems in my journey on the road by only looking ahead at a faint picture of myself 10 years from now...DAMN i'll be only 28!!!

ok stop at 33 you're making me feel old
whoops 34
still not bad to start a new career path a third of the way through - perhaps i'll get to retire before the next third
  • #16,005
  • Edited 7:52am Dec 2, 2008 7:38am | Edited 7:52am
Quoting bundyraider
If someone wanted to call that a BUOB that's there choice, but I don't even consider a trade on a poor one like that. In my book that bar's barely bullish of neutral. lol
I took it not becouse its BUOB but becouse i was waiting for long signal exactly in this area and that gave me good confirmation. Every time when price dropped a little it spiked up with good momentum showing me that bears are getting weaker. And i like to think it will go to the 1.2800 area where big orders will be waiting if the dollar bulls are still strong. I'm not always so strickt about bar/candle setups becouse they differ from feed to feed , if i'm not sure i just switch to lower timeframe and try to figure out the story behind them. Take pb for example...it represents a quick spike in a price but sometimes you will miss it just becouse you got feed with different close time.
  • #16,006
  • Dec 2, 2008 8:02am Dec 2, 2008 8:02am
eurusd 15m looks like a good pin with good location, if it breaks the 1.2700 level we will probably have a pin on the daily chart too.
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  • #16,007
  • Dec 2, 2008 8:36am Dec 2, 2008 8:36am
Hi all new to this thread, came via the DIBs thread and would just like to thank Jaroo! Will wade through as many posts as I can but could be very old by the time I finish all 1000 plus of them!
A question did James 16 ever roll out his trading system! Is so where (If Poss) do I go to get information. (Be polite)

Regards
  • #16,008
  • Dec 2, 2008 8:47am Dec 2, 2008 8:47am
Quoting gaia
Hi all new to this thread, came via the DIBs thread and would just like to thank Jaroo! Will wade through as many posts as I can but could be very old by the time I finish all 1000 plus of them!
A question did James 16 ever roll out his trading system! Is so where (If Poss) do I go to get information. (Be polite)

Regards
Hi Gaia

You will find a lot information in this thread. Checkout also guest section at james16group.us website. If you want to have access to all the valuable info sign to James group and you will have more then enough
  • #16,009
  • Dec 2, 2008 9:01am Dec 2, 2008 9:01am
Quoting gaia
Hi all new to this thread, came via the DIBs thread and would just like to thank Jaroo! Will wade through as many posts as I can but could be very old by the time I finish all 1000 plus of them!
A question did James 16 ever roll out his trading system! Is so where (If Poss) do I go to get information. (Be polite)

Regards
Welcome to the club bro. I'm at pg 160 now. It gigantic but worth going through. Look at pg 1-20 skip the pg after that ( I would say it just noise)then continue on pg 80 onward.

Happy reading, it's a gold mine in here.
Go figure.. Simplicity work
  • #16,010
  • Dec 2, 2008 9:33am Dec 2, 2008 9:33am
Quoting gaia
Hi all new to this thread, came via the DIBs thread and would just like to thank Jaroo! Will wade through as many posts as I can but could be very old by the time I finish all 1000 plus of them!
A question did James 16 ever roll out his trading system! Is so where (If Poss) do I go to get information. (Be polite)

Regards
Hey Gaia!

Great to have another addition to this wonderful club! Enjoy your stay...

Regards,
Ghous.
I believe . . .
  • #16,011
  • Dec 2, 2008 10:10am Dec 2, 2008 10:10am
Hi,

I have been reading for a while and I am trying to apply the method.
Today on EURJPY ppair on the 3H chart, there was what is for me a quite good pin bar.

I have some questions about it:

1. This pin bar is formed after few hours of consolidation. Is it still valid in the J16 framework?
2. The body is quite big, so how would you handle the MM part of this trade?

Cheers
Attached Image (click to enlarge)
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  • #16,012
  • Dec 2, 2008 10:18am Dec 2, 2008 10:18am
"eurusd 15m looks like a good pin with good location"

meh, I took a small loss on that one and now we have a pin bar on the h1. Just between the two big s/r... I can only see it going down with the rate cut coming on thursday... That 1.2700 level has to break seriously it's not funny, market what are you doing to me ?

Anyway, I'm reentering baby.
  • #16,013
  • Dec 2, 2008 10:27am Dec 2, 2008 10:27am
Quoting Lapin

2. The body is quite big, so how would you handle the MM part of this trade?

Cheers
Hey, I would take profit at 120.10 because that's a resistance going along with a 50 retracement of the current move so you should expect some battle around that area.

Also while I'm writing I have a pin bar forming on the h4 chart on eurjpy in the trend direction so i would suggest you to move your stop to break even right now.
  • #16,014
  • Dec 2, 2008 11:00am Dec 2, 2008 11:00am
Quoting gaia
Hi all new to this thread, came via the DIBs thread and would just like to thank Jaroo! Will wade through as many posts as I can but could be very old by the time I finish all 1000 plus of them!
A question did James 16 ever roll out his trading system! Is so where (If Poss) do I go to get information. (Be polite)

Regards
Welcome abroad gaia.

Price Action, the J16 way, is more of a trading method than a trading system. The beauty of PA is that if you apply it to a trading system that you have or are comfortable with using, it will improve it greatly.

I would suggest as you read through the thread, click on the posts from a James16 and mbqb11 (Mike) and read all their posts. There are many others with great experience and knowledge for you to gain from as you read through.

Just remember that Price Action formations (Pin Bars, DBHLC, BUOB, etc.) are just part of the overall Price Action set-up. You will find that Location and the Confluences supporting a PA set-up, make up the complete story of a high probability Price Action trade.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #16,015
  • Dec 2, 2008 11:43am Dec 2, 2008 11:43am
Quoting jarroo
You will find that Location and the Confluences supporting a PA set-up, make up the complete story of a high probability Price Action trade.
I would say that location is actually the most important thing.
Mr. Trend
  • #16,016
  • Dec 2, 2008 11:48am Dec 2, 2008 11:48am
Quoting Mr Trend
I would say that location is actually the most important thing.
I think raczekfx would agree with you sir.
Indicators show the past. Price Action "Indicates" the future.
  • #16,017
  • Edited 12:17pm Dec 2, 2008 11:58am | Edited 12:17pm
Quoting Mr Trend
I would say that location is actually the most important thing.

Hi,

excuse my ignorance, but how do you understand location? is it being close to critical levels and playing off them?

best regards
greg

Attached Image (click to enlarge)
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btw, we have a very nice H&S pattern being formed on EUR/USD M15. How would you guys play it?
  • #16,018
  • Dec 2, 2008 12:18pm Dec 2, 2008 12:18pm
Quoting Haxor
excuse my ignorance, but how do you understand location? is it being close to critical levels and playing off them?
Yes. You want to take trades based off of a good probability of success. So you want to look for PA setups that occur at solid areas of S&R or trendlines. More times than not, if you take a PA formation that's in a bunch of mess then your odds are you will lose. If you put on positions that jump out at you, then you most likely will win.

The problem that everyone has on here (and I've seen this day in and day out) is that everyone wants to be in a trade and they take crappy trades. You don't finally learn until you've lost enough money. Some people on here call a PA formation that I think they pulled out of thin air or something...
Mr. Trend
  • #16,019
  • Dec 2, 2008 12:22pm Dec 2, 2008 12:22pm
Quoting Haxor
btw, we have a very nice H&S pattern being formed on EUR/USD M15. How would you guys play it?
You play it textbook. There's no other way to play it, unless you see a pinbar off of a right shoulder that's forming, but even in that case, you better be ready to pull the plug if it stalls at the neckline.
Mr. Trend
  • #16,020
  • Dec 2, 2008 12:24pm Dec 2, 2008 12:24pm
Quoting Mr Trend
Yes. You want to take trades based off of a good probability of success. So you want to look for PA setups that occur at solid areas of S&R or trendlines. More times than not, if you take a PA formation that's in a bunch of mess then your odds are you will lose. If you put on positions that jump out at you, then you most likely will win.

The problem that everyone has on here (and I've seen this day in and day out) is that everyone wants to be in a trade and they take crappy trades. You don't finally learn until you've lost enough money. Some people...
I know exactly what you talking about when you mentioned that some traders want to be in a trade all the time. unfortunately, that's the problem with me. i've been struggling with it since i started trading about 6 months ago. i still take these crappy trades. i tell myself everyday that this is not the way to go, but it's stronger than me;( do you think that we can actually learn patience?
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