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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

  • #17,081
  • Dec 17, 2008 4:59pm Dec 17, 2008 4:59pm
Quoting Naijafx
Hi Mike,

Thanks, advice taken coz it makes sense to me.

maybe, I need to know the criteria for defining a Pin bar, would u plz help me?
Thanks
Mike(Naijafx)
The Open and Close of the potential Pinbar must be inside the range of the previous bar. See image:

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Attached Image
  • #17,082
  • Dec 17, 2008 5:10pm Dec 17, 2008 5:10pm
pay attention to mike. his views are generally mine also. mike is not the only one. there are many old timers here that all new people to this thread should pay attention to.

jim

shoulds
Quoting mbqb11
Hey Naija

Be real careful here, I think this is stretching things a bit. Firstly the pin on the hourly didnt have a close within the prior bar so technically it is not a pinbar. Secondly it has been 4+ bars and the low was never broken. This is often a sign of a lackluster pin. Most people cancel their order if it doesn't break on the next bar or maybe 2 bars. I would just be careful here as maybe this will give some pips to you, but I think there are better trades to wait on the sidelines for.

Just my views

Mike
  • #17,083
  • Edited 6:44pm Dec 17, 2008 6:40pm | Edited 6:44pm
Hi guys, I've been reading this thread october (I think)...well I've been trading this style for about 2 months and Im at breake even due to My fear to give to the market what I've taken from it. (Yes I know "let winners run and cut loser fast").

I got no major problem getting good entries, but my real problem is where take profits...so I will post my first pic here to show you What I consider a good trade (following experienced J16's traders).

PB at confluence of 150 and 350 MAs and 61.8 FIBO level.

I put a buy stop 10 pips above top PB and S/L 10 pips bellow botton PB.
So, where my exit estrategy could be for this one? (target at dayli pivot?)

I never risk more than 2% of my account and I just trade daylis and 4H (all this rules according to J16's thread and lot of FF experienced members).
I would appreciate any thought...

thank you...

Feed: INTERBANKFX

PS: this order hasn't triggered yet, so everything could happen...
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF.jpg Size: 130 KB
  • #17,084
  • Dec 17, 2008 6:47pm Dec 17, 2008 6:47pm
Quoting Naijafx
Hi Mike,

Thanks, advice taken coz it makes sense to me.

maybe, I need to know the criteria for defining a Pin bar, would u plz help me?
Thanks
Mike(Naijafx)
Check these out.....
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   175 KB | 733 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 715 downloads
  • #17,085
  • Dec 17, 2008 6:59pm Dec 17, 2008 6:59pm
Quoting trujillo1980
Hi guys, I've been reading this thread october (I think)...well I've been trading this style for about 2 months and Im at breake even due to My fear to give to the market what I've taken from it. (Yes I know "let winners run and cut loser fast").

I got no major problem getting good entries, but my real problem is where take profits...so I will post my first pic here to show you What I consider a good trade (following experienced J16's traders).

PB at confluence of 150 and 350 MAs and 61.8 FIBO level.

I put a buy stop 10 pips above top PB...
Sorry i can't posts charts right now. Could you post a Daily Chart with its PPZ levels?
Indicators show the past. Price Action "Indicates" the future.
  • #17,086
  • Dec 17, 2008 7:09pm Dec 17, 2008 7:09pm
Quoting jarroo
Sorry i can't posts charts right now. Could you post a Daily Chart with its PPZ levels?
OK. Here you go...both 4H and D1.

Watting for suggestions....

Thank you....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCHF.jpg Size: 130 KB
Click to Enlarge Name: EURCHF D1.jpg Size: 118 KB
  • #17,087
  • Dec 17, 2008 7:11pm Dec 17, 2008 7:11pm
Quoting trujillo1980
OK. Here you go...both 4H and D1.

Watting for suggestions....

Thank you....
Could you try it again and remove the fib levels and daily pivot levels. Just the PPZs.
Indicators show the past. Price Action "Indicates" the future.
  • #17,088
  • Dec 17, 2008 7:17pm Dec 17, 2008 7:17pm
Quoting jarroo
Could you try it again and remove the fib levels and daily pivot levels. Just the PPZs.
Here's one alternative view.
Attached Image
Bundy's status today: "Waiting..."
  • #17,089
  • Dec 17, 2008 7:18pm Dec 17, 2008 7:18pm
Quoting bundyraider
Here's one alternative view.
Damn. That's was a good divergence trade at that high a couple of days ago too. lol
Bundy's status today: "Waiting..."
  • #17,090
  • Dec 17, 2008 7:20pm Dec 17, 2008 7:20pm
Quoting jarroo
Could you try it again and remove the fib levels and daily pivot levels. Just the PPZs.
hope its better now....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCHF 2.jpg Size: 87 KB
Click to Enlarge Name: EURCHF D1(2).jpg Size: 94 KB
  • #17,091
  • Dec 17, 2008 7:24pm Dec 17, 2008 7:24pm
Quoting bundyraider
Damn. That's was a good divergence trade at that high a couple of days ago too. lol

Hi bundyraider, could you please explain me what "divergence" means?
Some example....???

Thank you....
  • #17,092
  • Edited 7:48pm Dec 17, 2008 7:36pm | Edited 7:48pm
Quoting bundyraider
Damn. That's was a good divergence trade at that high a couple of days ago too. lol
Thanks Bundy (as always).

Forgot who took the short break of a I4B (different platform) at that level. looking good.
(edit: Getsmart took that trade, I wonder how's he doing with it)


trujill: Most of what James16 teaches (and preaches) stems from the higher time frames of the Daily and Weekly. So alot of our analysis starts there.

The 4 PB and the confluences you mentioned are very good. PB (imo)is just to small compared to the largeness of the recent down move. This past year has shown that even on the Daily time frame, PBs have failed after such a large move.

The Daily PPZs that I have drawn would be a good location for PA to develop on the Daily and/or 4 hour time frame.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #17,093
  • Dec 17, 2008 7:49pm Dec 17, 2008 7:49pm
Quoting jarroo
Thanks Bundy (as always).

Forgot who took the short break of a I4B (different platform) at that level. looking good.


trujill: Most of what James16 teaches (and preaches) stems from the higher time frames of the Daily and Weekly. So alot of our analysis starts there.

The 4 PB and the confluences you mentioned are very good. PB (imo)is just to small compared to the largeness of the recent down move. This past year has shown that even on the Daily time frame, PBs have failed after such a large move.

The Daily PPZs that I have drawn would...

Thank you, so would you recommend start my analysis on daylis (or maybe weeklys)???

Due my native language is not english (Native is Spanish) could you tell me what PPZs and IMO means?


One last thing, where you recommend to look for take profit on this trade?


thank you...
  • #17,094
  • Dec 17, 2008 7:59pm Dec 17, 2008 7:59pm
Quoting trujillo1980
Thank you, so would you recommend start my analysis on daylis (or maybe weeklys)???

Due my native language is not english (Native is Spanish) could you tell me what PPZs and IMO means?


One last thing, where you recommend to look for take profit on this trade?


thank you...
Wow, your english reads better then mine.

As you read more of this thread you will fine more of your answers to your questions.

PPZ: Price Pivot Zone

IMO: In My Opinion
Indicators show the past. Price Action "Indicates" the future.
  • #17,095
  • Dec 17, 2008 8:03pm Dec 17, 2008 8:03pm
Quoting trujillo1980
Hi bundyraider, could you please explain me what "divergence" means?
Some example....???

Thank you....
Hi Trujillo, Here is the same chart I posted but with divergence highlighted (IN bright yellow)

The top yellow line on the price chart is sloping upwards, but the other yellow line marked on the MACD down the bottom is sloping down. The two have are heading in different directions.
This adds strength to any short signal.

THe following link has an explanation : Divergence Information (About halfway down it's page... )
Attached Image
Bundy's status today: "Waiting..."
  • #17,096
  • Dec 17, 2008 8:16pm Dec 17, 2008 8:16pm
Quoting jarroo
Wow, your english reads better then mine.

As you read more of this thread you will fine more of your answers to your questions.

PPZ: Price Pivot Zone

IMO: In My Opinion
jeje..thank you jarroo...I spent over a year in NY few years ago, so I learnt some english there...
  • #17,097
  • Dec 17, 2008 8:18pm Dec 17, 2008 8:18pm
Quoting bundyraider
Hi Trujillo, Here is the same chart I posted but with divergence highlighted (IN bright yellow)

The top yellow line on the price chart is sloping upwards, but the other yellow line marked on the MACD down the bottom is sloping down. The two have are heading in different directions.
This adds strength to any short signal.

THe following link has an explanation : Divergence Information (About halfway down it's page... )
OK...understood....Divergence is when you have 2 or more diferent signal at the same time...Right??

I will take a look of the link you gave me.

Thank you...

edit:
"...Divergence occurs when the indicator fails to imitate the pattern on the price chart, a sign of trend weakness and likely reversal."
source here
  • #17,098
  • Dec 17, 2008 8:58pm Dec 17, 2008 8:58pm
Here is an update on the CHF/JPY trade. Go, go, go! This pin bar business really does work, huh?
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-17-cj-d1-1.gif Size: 14 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,099
  • Dec 17, 2008 9:06pm Dec 17, 2008 9:06pm
Quoting trujillo1980
Thank you, so would you recommend start my analysis on daylis (or maybe weeklys)???

One last thing, where you recommend to look for take profit on this trade?


thank you...
Yes, start your analysis on the Daily and Weekly charts.

I would look for 1st profit target at the previous lows on the 4 hour. But again, I don't like the size of this PB so I would pass on this one.

(watch it go to the moon. lol)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #17,100
  • Edited 9:47pm Dec 17, 2008 9:16pm | Edited 9:47pm
Quoting LasVahGoose
Here is an update on the CHF/JPY trade. Go, go, go! This pin bar business really does work, huh?
Nice LVG.

Although there was much traffic at the previous bars (candles), look at the size of the PB compared to them. It's almost BUOB/PB if there is such a thing. lol

It wasn't the prettiest set-up, but I can understand why it worked.
Price Action, location and supporting confluences are a powerful thing. They just take time to develop.

Nice job LVG.
Indicators show the past. Price Action "Indicates" the future.
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