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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

  • #17,761
  • Jan 3, 2009 8:45am Jan 3, 2009 8:45am
I take only 3 setups with pinbar.
Every day, same setups. I take, what I have to take.
Why to change it when this works:-)
Btw with trend but without div, is one of my setup with pinbar.
Anyway you can train same stuff with outside bars or whatever you want.

But train before go real

Quoting g_j_hook@yah
nice trade mate ,just wondering if you saw the outside bar on the next rally as an A+ setup or would the the lack of divergence be an issue?thanx
jon
  • #17,762
  • Jan 3, 2009 9:05am Jan 3, 2009 9:05am
Quoting Dr_Cryonic
Can you tell me where is your target? Will it reach 1.47XX in the coming week?
My first tp, rests somewhere around 1.62.

And i am not sure what you mean 1.47ish. Guess it's a typo lol! If it was 1.74 that you meant I sure would like to see it touch 1.74, wether it does or does not is another matter

Regards,
Ghous.
I believe . . .
  • #17,763
  • Jan 3, 2009 9:07am Jan 3, 2009 9:07am
Quoting Jankone
I've had my tp +20. I need to feel OK. If i stay longer in trades, i'm getting nervous, then emotions etc... I train stuff, that works FOR ME and I feel ok with this. With +10 or +20 , you have bigger % wins than with +50..
It's about your style... I know, that i suck on daily, so I do what works for me and with what I feel great.
And it's +10/20 pips
:-)
. . .
I believe . . .
  • #17,764
  • Jan 3, 2009 9:16am Jan 3, 2009 9:16am
Ghous,

What do you guys think about E/U? If it break to the downside, I would like to see it test the area of 3200. Any comment?

For A/U, if it fail to break through the resistance area. I thinking of going short from H4. Double top.

JMHO. Pls give guidance
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  • #17,765
  • Jan 3, 2009 9:30am Jan 3, 2009 9:30am
Hey guys,

Thanks for all your response n yeah i do belive i get my charm back!

I get what im suppose too and its worth gigantic reading here.. Too many who comment on my charts especially Ghous, thanks much and now i can feel great to contribute and being a better hunter rather than only a trader.

Ive got my key lines and i wish i could hilite in here.

1) Watch the trend, its better waiting for swing area, retracement level, s/r bounce area.
2) IB shall be play wisely. Look for the daily range if you need to play but lack of margin.
3) PA confirmation shall be done at proper place. Dont go for congested places. Like wut happened on my EU charts. That area kinda full with traffic. Allow it to be on the proper place. (Point 1)
4) Hunting need passion.
5) Being bless by the Almighty.


Regards
  • #17,766
  • Jan 3, 2009 9:47am Jan 3, 2009 9:47am
My Fav Cable.

Are you doing your way up to the north???

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  • #17,767
  • Jan 3, 2009 10:46am Jan 3, 2009 10:46am
Hello!I think, GBP will go only to the north.
  • #17,768
  • Jan 3, 2009 10:50am Jan 3, 2009 10:50am
Quoting raczekfx
Interesting.... check my charts....lol


NP..

Hi raczekfx, couple of questions:

GBPCHF--> IB, why did you enter before the brake of High of IB (left bar)? I thought right bar must brake left bar and IB's high to be a valid set up???

EURGBP--> DBH, Can you explain why did you enter here please?

Thank you...
  • #17,769
  • Jan 3, 2009 11:02am Jan 3, 2009 11:02am
Quoting arcus
Ghous,

What do you guys think about E/U? If it break to the downside, I would like to see it test the area of 3200. Any comment?

For A/U, if it fail to break through the resistance area. I thinking of going short from H4. Double top.

JMHO. Pls give guidance
hey Arcus,

I am short Eu since we saw a retest to the 1.39 region, Looking at 3200 just yet would far too early there are quite a few barriers before this level any of which may provide all the support in the world. One such area is highlighted with the grey rectangle on my chart. I am eying this region around 1.36 as my first target.

Au is another pair which is on my watch list. Since there are already quite a few pairs i have aligned for considering I may not take this one, but I do support your views regarding some bearish movement on the pair in the coming weeks, Some nice PA now would be great, who knows i might have to fore go other setups to take this one...it all depends on how Monday shapes up..."thumbsup:

EDIT: you'll have to wait a bit for the charts my net's down again

Regards,
Ghous.
I believe . . .
  • #17,770
  • Jan 3, 2009 11:07am Jan 3, 2009 11:07am
Quoting johnbaem
Hey guys,

Thanks for all your response n yeah i do belive i get my charm back!

I get what im suppose too and its worth gigantic reading here.. Too many who comment on my charts especially Ghous, thanks much and now i can feel great to contribute and being a better hunter rather than only a trader.

Ive got my key lines and i wish i could hilite in here.

1) Watch the trend, its better waiting for swing area, retracement level, s/r bounce area.
2) IB shall be play wisely. Look for the daily range if you need to play but lack of margin.
3) PA confirmation...
That's the spirit Mate!

Wish you best of luck!

Regards,
Ghous.
I believe . . .
  • #17,771
  • Jan 3, 2009 11:10am Jan 3, 2009 11:10am
Quoting trujillo1980
Hi raczekfx, couple of questions:

GBPCHF--> IB, why did you enter before the brake of High of IB (left bar)? I thought right bar must brake left bar and IB's high to be a valid set up???

EURGBP--> DBH, Can you explain why did you enter here please?

Thank you...
Welcome to Raczekfx's fan club!!
I believe . . .
  • #17,772
  • Jan 3, 2009 11:29am Jan 3, 2009 11:29am
Quoting ghous
LoL! So where've you been mate we missed all those white charts.

Had a good Xmas and New year?

Regards,
Ghous.
Had a great Xmas and New year. (oh my head . . .)

Looking forward to 2009. Jan. looks busy so trading will be touch and go.
Indicators show the past. Price Action "Indicates" the future.
  • #17,773
  • Jan 3, 2009 11:39am Jan 3, 2009 11:39am
Hi guys,

I am quite new to the J16 thread and have been reading all the previous posts and believe PA is a powerful indicator.

Have been looking through some charts today and have noticed a weekly pin bar on eur/gbp.

I believe J16 would advise placing of Sell order below the pin with a SL just above the pin.

I would be interested to hear if the experienced guys & gals here would trade this setup - as is at a major high ?

Regards

MAB
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  • #17,774
  • Jan 3, 2009 11:48am Jan 3, 2009 11:48am
Quoting trujillo1980
Hi raczekfx, couple of questions:

GBPCHF--> IB, why did you enter before the brake of High of IB (left bar)? I thought right bar must brake left bar and IB's high to be a valid set up???
I entered on a break of 4-4hr bar consolidation with sl few pips below them
Quoting trujillo1980
EURGBP--> DBH, Can you explain why did you enter here please?

Thank you...
similar situation as explained in my eucad video but on a micro scale (4hr). You should notice divergence, bar consolidation and inability of breaking .98 level. Add to it what I said about euro (video) and you have a action plan ready. The rest is psychology and MM
  • #17,775
  • Jan 3, 2009 12:20pm Jan 3, 2009 12:20pm
Quoting ghous
Hey Raczekfx, I wanted some help...

I took my Gbp/chf trade somewhere around where you took it, and since you're a master at money managment perhaps you can assist me with this typical case.

The trade went on close to +250, I know you booked your profits earlier than this But I planned on my first Tp as the 1.62 level based entirely off the daily.

What happened here was on seeing a retracment from +250 i moved my stop to breakeven (hod to re-enter off the 4H Pb) and obviosuly got stopped out.
......
There is never one answer that is right and I'm not inside your head, so I could be wrong, but I'll try.

1. Rule of thumb is that if you enter on 4hr you should exit on 4hr. By that rule my initial stop would be around 1.5150 (entry 1.5340) and I would be out 1.57. To be more precise, I'd be out of half at 57 and would most likely move my stop just below 4hr bar prior my entry.
Having said all that, I'm haven't book any profit on this trade just yet as I'm treating this as a swing trade with potential of 2000 pips. That's right, 2000 over the next 4 weeks or so. Would I be able to make those pips by trading 5min charts and look for divergence and pins on them? Off course not, but I don't want to argue here about nonsense of chasing 20pips per trade, even if you get to a point where you're able to trade $1000pips per point. Simple math and logic should tell you what path to take.

2. You have taken a trade during a time where PA doesn't always make sense and often large price swings will shake people off their trades before they come back from their trip to a washroom.

3. I recall from my experience that after taking a trade on 4hr chart, I would go back and read some posts with 1hr or 15min charts showing opposite setups and I would question my 4hr entry. Never do this if you want to stay sane. I would only do that if price is ranging between two ppzs and price is approaching one of the boundaries. To simplify: If you took g/chf on daily and I'm writing some nonsense on FF with 4hr chart, don't even bother reading it...
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  • #17,776
  • Jan 3, 2009 12:24pm Jan 3, 2009 12:24pm
.... cont. from previous post

If weekly bar breaks, I'll add to it and will be treating this trade as a swing trade with targets as shown....
.
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  • #17,777
  • Jan 3, 2009 12:24pm Jan 3, 2009 12:24pm
Quoting raczekfx
I entered on a break of 4-4hr bar consolidation with sl few pips below them

similar situation as explained in my eucad video but on a micro scale (4hr). You should notice divergence, bar consolidation and inability of breaking .98 level. Add to it what I said about euro (video) and you have a action plan ready. The rest is psychology and MM

I see...So much learning to see this stuff like you master see.

I see you got a very agressive style of trading...

I hope some day I see things like you do.

thank you...
  • #17,778
  • Jan 3, 2009 12:36pm Jan 3, 2009 12:36pm
Quoting trujillo1980
I see...So much learning to see this stuff like you master see.
lol. you guys....

You are all masters of your own destiny and don't even know that. Once you realize that, quite a few light bulbs will be turned on
The key to your own success is in you and NOT with us...
  • #17,779
  • Jan 3, 2009 12:45pm Jan 3, 2009 12:45pm
Quoting raczekfx
There is never one answer that is right and I'm not inside your head, so I could be wrong, but I'll try.

1. Rule of thumb is that if you enter on 4hr you should exit on 4hr. By that rule my initial stop would be around 1.5150 (entry 1.5340) and I would be out 1.57. To be more precise, I'd be out of half at 57 and would most likely move my stop just below 4hr bar prior my entry.
Having said all that, I'm haven't book any profit on this trade just yet as I'm treating this as a swing trade with potential of 2000 pips. That's right, 2000 over the...
Thanks dude That made a lot of sense

Regards,
Ghous.
I believe . . .
  • #17,780
  • Jan 3, 2009 12:50pm Jan 3, 2009 12:50pm
Quoting raczekfx
lol. you guys....

You are all masters of your own destiny and don't even know that. Once you realize that, quite a few light bulbs will be turned on
The key to your own success is in you and NOT with us...
we may be be master of our own destiny..however i can honestly say yur trading is very impressive..i wish one day i can have your attitude, displine and mental approach to the game...

thanks for yur posting...i really need to look at them in more depth as there is so much to learn
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