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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

  • #17,861
  • Jan 5, 2009 1:28pm Jan 5, 2009 1:28pm
Quoting raczekfx
.
very nice chart raczekfx!

didn't know you can combine them all like that...

those confluence, drawing it that way, is it pretty strong?
  • #17,862
  • Jan 5, 2009 1:46pm Jan 5, 2009 1:46pm
Quoting pf1966
This will be my 1st post on this thread.

I don't believe in coincidence.

Regards

Anthony

Me neither Anthony. Actually the markets are much more logical then most would care to believe. These bars here showed the market consolidating down giving us our inside bars. Then it wanted to shake out the weak players(ie, pushing down/up opposite way it intended to go(indicated by the pin looking PA). Grab the stops, induce new buyers/sellers), before proceeding the way it intended by eating up all the new orderflow generated.

Thanks for posting

Mike
  • #17,863
  • Jan 5, 2009 2:13pm Jan 5, 2009 2:13pm
CHFJPY: Weekly pin bar (not perfect but at a good location) broken down.
Daily outside bearish bar formed. Looks like a good opportunity to me. Anyone else?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfjpyweekly.gif Size: 48 KB
Click to Enlarge Name: chfjpydaily.gif Size: 48 KB
Trax Tibidax Tibidox...
  • #17,864
  • Edited 2:28pm Jan 5, 2009 2:16pm | Edited 2:28pm
Quoting masterpiecefx
CHFJPY: Weekly pin bar (not perfect but at a good location) broken down.
Daily outside bearish bar formed. Looks like a good opportunity to me. Anyone else?
I've got my sell stop below the 38.2 Fib based on the pinbar on the weekly.
  • #17,865
  • Jan 5, 2009 2:19pm Jan 5, 2009 2:19pm
Quoting pf1966
This will be my 1st post on this thread.
I have seen it mentioned numerous times how tricky inside bars can be.
Hope this slant on IB PA helps.
It would seem broker server time plays a key role in the variations of what traders see when on 4H and above.
Personally I will only use one set to close 5PM EST.
I have used the EUR/USD trade as an example.
A clear cut sell if ever there was.
USD/CHF the complete opposite.
I've thrown in the AUD/USD as well.
I don't believe in coincidence.

Regards

Anthony

Yes the fakey...
i actually took that euro short last night on the touch of 1.3950. good add on to a small position i had.
Will be nice to see it come back & test 1.38- 1.3830ish.
  • #17,866
  • Jan 5, 2009 2:28pm Jan 5, 2009 2:28pm
Quoting raczekfx
.
Ok. Make sense now. looking to monthy charts you manage your trade to hold it for long time?

For my futher trades, what should I do? For example if I open a position based on an daily chart, how can I manage it? looking dailys, 4H, weekly or montly or combinations of them?

Thank you very much for your kind help...
  • #17,867
  • Jan 5, 2009 2:38pm Jan 5, 2009 2:38pm
heres another example.
2 ib's followed by break up then forming a pin, indicating a move lower.
it hasnt broken the low of the mother bar yet but has given pips on the break of the pin.
could give a nice retrace of todays daily bar. or it might not..
The thing i like is it gives a double top with divergence...
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy9.gif Size: 12 KB
  • #17,868
  • Jan 5, 2009 2:50pm Jan 5, 2009 2:50pm
Quoting trujillo1980
...
For my futher trades, what should I do? For example if I open a position based on an daily chart, how can I manage it? looking dailys, 4H, weekly or montly or combinations of them? ...
I think if you read this thread from the beginning, it would help a lot. I know it's a hugeee but it helps to answer question like you asked.

Some would take trades like this - if you enter on h4, exit on h4 and so on. I think this has been mentioned by Mike few times - lots of time lol. After all, it would come down to your personality.
  • #17,869
  • Jan 5, 2009 3:09pm Jan 5, 2009 3:09pm
Quoting arcus
..... if you enter on h4, exit on h4 and so on. I think this has been mentioned by Mike few times - lots of time lol. After all, it would come down to your personality.
Yes it's true, I was applying that rule, but in this trade I entered on daily and I notice Rac, set TP based on montly, That's why sometimes is confusing...But you are very right when you say "it would come down to your personality". I think in the process of getting our own personality or style of trading, we should take a bit from here a bit from there until we start making things by our own.

Take care buddy...
  • #17,870
  • Jan 5, 2009 3:33pm Jan 5, 2009 3:33pm
Anyone long eurcad after 4hr pinbar off 1.61 / 1.62?

Or long audcad after a retest of 0.85?
  • #17,871
  • Jan 5, 2009 3:34pm Jan 5, 2009 3:34pm
Quoting trujillo1980
Ok.

For my futher trades, what should I do? For example if I open a position based on an daily chart, how can I manage it? looking dailys, 4H, weekly or montly or combinations of them?
Short answer is: I don't know, I'm not you.

I wouldn't want to turn this discussion into a trading course. No time, no place for this on an open and public forum....
Trades I'm posting from time to time are for illustration/entertainment purposes only. Some people might get inspired and something clicks,... that's great.
As arcus already mentioned, the topic has been covered here many times.

Monthly support is stronger than weekly, weekly than daily and so on. Think how can you use that information to benefit your trading. The easiest way is to go into a trade on PA and exit on opposite PA and not TPs.
What people seem to forget is that james16chart thread is not a system. It is a method. You WILL have to do some work here and come up with your own system using j16 method. This is what I did, but since it's not based on 'clean' PA entries, I have no plans/nor want to mess this thread up.

Best of luck trujillo with your journey. Patience and hard work should pay off sooner or later, but it has to be YOUR OWN work.
  • #17,872
  • Jan 5, 2009 3:37pm Jan 5, 2009 3:37pm
Quoting jicjoc
Anyone long eurcad after 4hr pinbar off 1.61 / 1.62?

Or long audcad after a retest of 0.85?
IMHO, e/c pinbar is too small compared to the downmove. For a/c, I dunno so I better shut up lol. Just my 2 cent.
  • #17,873
  • Jan 5, 2009 4:09pm Jan 5, 2009 4:09pm
Quoting Mab
Thanks Jarroo, I too will be looking for PA on 4hr / Daily for a possible position to enter. I have put my daily PPZ around 0.9500 (round number) upto 0.9520. I agree it is a little vague at the moment.

Thanks

MAB.
The Weekly PB on the Eur/Gbp worked out nicely Mab.

Once Price broke the PB, it's a good sign to see Price retrace to the entry point and then continue to fall as shown on the 4 hour chart. More so on the Hourly.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #17,874
  • Jan 5, 2009 4:16pm Jan 5, 2009 4:16pm
Quoting raczekfx
Short answer is: I don't know, I'm not you.


Trades I'm posting from time to time are for illustration/entertainment...




i for one am entertained..

for everyone who has not been doing this for 3 years or so, Raczek's coments above may seem a bit harsh. I know for a fact they are not. This stuff is dirt simple. What Rac says is everybit true. Just keep working on finding your way with using this information & when you you find it, it all becomes easy & non stressfull.
Yes it takes work, but we all know what the payoff is.
And just a point. We never stop learning or adapting to the market. Ask Jim... But when you are doing it for yourself a huge weight is lifted, the clouds part & the world seems a bit brighter.
  • #17,875
  • Jan 5, 2009 4:20pm Jan 5, 2009 4:20pm
Quoting jarroo
The Weekly PB on the Eur/Gbp worked out nicely Mab.

Once Price broke the PB, it's a good sign to see Price retrace to the entry point and then continue to fall as shown on the 4 hour chart. More so on the Hourly.

It would be nice to see the same pa on the euro as well.
  • #17,876
  • Jan 5, 2009 4:38pm Jan 5, 2009 4:38pm
Quoting rustyjeff
heres another example.
2 ib's followed by break up then forming a pin, indicating a move lower.
it hasnt broken the low of the mother bar yet but has given pips on the break of the pin.
could give a nice retrace of todays daily bar. or it might not..
The thing i like is it gives a double top with divergence...


There it goes. Breaking low of the "mother" or outside bar 3 bars before the pin.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy9.gif Size: 12 KB
  • #17,877
  • Jan 5, 2009 4:43pm Jan 5, 2009 4:43pm
Quoting rustyjeff
It would be nice to see the same pa on the euro as well.
Au contraire my rusty friend. The best senario is that Price breaks our trigger and never looks back on the next Bar (candle).

But if it doesn't do that (as with the Eur/Gbp) it's nice to see some confirmation on our entry.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #17,878
  • Jan 5, 2009 5:50pm Jan 5, 2009 5:50pm
Hi guys,

I tried to this by myself first and got confused, and need to check the ideas with senior traders. Areas like this A/C is the most confusing areas for me so far, since looking at the daily bar, the low volatility from the holiday make the bar so small and I find it hard to find for PPZ areas. So, this is what I come out with. Hope you can help.

For the daily chart, the two line is PPZ for the daily and also for the weekly chart. There's a PB but the nose is not long enough. So, I will look for potential setup in this PPZ areas. Daily - PB. And zoom in to H4, there's a TBL which is my entry sitting on the PPZ. Any comment on this? I know this is not an A trade, but I need to know and learn about how to handle this area. Thanks!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.gif Size: 17 KB
Click to Enlarge Name: auh4.gif Size: 18 KB
  • #17,879
  • Jan 5, 2009 6:22pm Jan 5, 2009 6:22pm
Quoting arcus
Hi guys,

I tried to this by myself first and got confused, and need to check the ideas with senior traders. Areas like this A/C is the most confusing areas for me so far, since looking at the daily bar, the low volatility from the holiday make the bar so small and I find it hard to find for PPZ areas. So, this is what I come out with. Hope you can help.

For the daily chart, the two line is PPZ for the daily and also for the weekly chart. There's a PB but the nose is not long enough. So, I will look for potential setup in this PPZ areas. Daily...
I like the .8500 as a strong PPZ . TBL on the 4 hour could be tradable, I would have a target at .8430. But my eyes would be looking for Bullish PA to ride the current uptrend.

In all honesty, the pair is a messy and all over the place. When I scan pairs and would come across this one . . . that looks like a couple of porcupines in a fight . . I pass. There are many other easier pairs to trade.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #17,880
  • Jan 5, 2009 6:30pm Jan 5, 2009 6:30pm
Quoting jarroo
I like the .8500 as a strong PPZ . TBL on the 4 hour could be tradable, I would have a target at .8430. But my eyes would be looking for Bullish PA to ride the current uptrend.

In all honesty, the pair is a messy and all over the place. When I scan pairs and would come across this one . . . that looks like a couple of porcupines in a fight . . I pass. There are many other easier pairs to trade.
Thanks Jarroo for the quick reply. I know this pair is a mess, just want to learn so at least I know and got to learn what to expect in this area. Now I'm in love with PA lol.
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