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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

  • #22,761
  • Mar 1, 2009 2:42pm Mar 1, 2009 2:42pm
Could it be considered a bullish pennant also?
  • #22,762
  • Mar 1, 2009 2:47pm Mar 1, 2009 2:47pm
Quoting Jlr
Could it be considered a bullish pennant also?


No idea lol
  • #22,763
  • Mar 1, 2009 4:56pm Mar 1, 2009 4:56pm
I was just going over the daily cable chart going back several years and it is amazing how a guy can mark PPZs on a weekly from just what is in the chart right now and go back on the daily to a time not pictured and have those PPZs line up perfectly going back.

As far as an "official" list of J16 PA, what might it look like? I've seen the following: Pinnochio or "Pin" bar, I4B, BEOB and BUOB, DHLC and DLHC. So basically four categories? Am I missing any?

Favorite quotes by J16:

"I dropped it like a stone."

"This stuff is dirt simple, folks."
  • #22,764
  • Mar 1, 2009 5:12pm Mar 1, 2009 5:12pm
Quoting Gerard212
Hi Rac

Can i ask please your entry points on your trades.

Thanks Gerard
not sure how this would help . I don't trade 'traditional' PA

1.4182; 1.2630; .6358; .4997

all flat just before market closed on Friday.
  • #22,765
  • Mar 1, 2009 5:30pm Mar 1, 2009 5:30pm
gj, uc, gchf.
.
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  • #22,766
  • Mar 1, 2009 5:32pm Mar 1, 2009 5:32pm
I see some gaps on the 4 hour charts on a few pairs. Anyone scaling in some small positions in the likely hood that they will fill as usual? I want to start trying this method out looks like it can be profitable.
  • #22,767
  • Mar 1, 2009 5:38pm Mar 1, 2009 5:38pm
I was wondering what you guys think on the pin of 2/27 (not the last candle on the chart) if it's even considered a valid pin on the GPB/USD

In my opinion as a newbie this one has a few positives and negatives:

Positives
1. Support area right below the pin around 1.41
2. Close near the high so I could think of taking a long position if it breaks.
3. Swing low

Negatives
1. Close = Open. Not sure if this means the candle can be considered an indecision candle as I see sometimes in this forum.
2. The nose doesn't protrude that much from recent lows...but it's still a long nose from the close/open.
2. This move if it happens might stall around 1.46..but that would still be a nice profit if it happened

Any opinions would be appreciated!

Rubin.
Attached Image
  • #22,768
  • Mar 1, 2009 11:07pm Mar 1, 2009 11:07pm
Quoting raczekfx
gj, uc, gchf.
.
At first I was worried about your daily on gbpchf. And then I zoom it into 4hour and then I was like, OK, it could work out that way. Good view of the market, rac.
  • #22,769
  • Mar 2, 2009 12:22am Mar 2, 2009 12:22am
Quoting gorubin
I was wondering what you guys think on the pin of 2/27 (not the last candle on the chart) if it's even considered a valid pin on the GPB/USD

Any opinions would be appreciated!

Rubin.
I´m a noob myself to this method, but I wouldnßt trade it. It´s not really sticking out and it´s right within a range that built over the last month, so you can´t really say it´s at a swing low. General trend is down/sideways.

I would trade a breakout out of the range (high 1.47 low 1.41)

But just how I see it.

Good luck if you take it.
  • #22,770
  • Mar 2, 2009 2:45am Mar 2, 2009 2:45am
Quoting gorubin
I was wondering what you guys think on the pin of 2/27 (not the last candle on the chart) if it's even considered a valid pin on the GPB/USD

In my opinion as a newbie this one has a few positives and negatives:

Positives
1. Support area right below the pin around 1.41
2. Close near the high so I could think of taking a long position if it breaks.
3. Swing low

Negatives
1. Close = Open. Not sure if this means the candle can be considered an indecision candle as I see sometimes in this forum.
2. The nose doesn't protrude that much from recent lows...but...
Hi Rubin,

Dabuschi is absolutely right. At a swing low with divergence this one would have been a mighty setup...

Quote
Close = Open. Not sure if this means the candle can be considered an indecision candle as I see sometimes in this forum.
Close = Open is just fine for a pin bar, it is'nt for an outside bar or an inside bar but for a pin bar the open and close being at the same price shouldn't destroy the setup...

An indecision bar (which can be mistaken to be a pin bar) is where the two "wicks" on each end are exactly or close to being of the same length, and when you see that you don't even need confirmation of the open and close being at the same price level. Other price action indicators are obviosuly dealt with differently...

Regards,
Ghous.
I believe . . .
  • #22,771
  • Mar 2, 2009 5:56am Mar 2, 2009 5:56am
Hi all,

i was trying to understand how to play the outside bars (BUOB and BEOB)..
Do you wait for a retrace, or do you think it's much safer waiting for the break of the outside bar?

And, what kind of stop loss do you feel comfortable with?

Below an example of a BEOB on the 4h TF today. It seems to work both waiting for the break and for a retracement (in this case 38,2).
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  • #22,772
  • Mar 2, 2009 6:05am Mar 2, 2009 6:05am
Quoting bakko85
Hi all,

i was trying to understand how to play the outside bars (BUOB and BEOB)..
Do you wait for a retrace, or do you think it's much safer waiting for the break of the outside bar?

And, what kind of stop loss do you feel comfortable with?

Below an example of a BEOB on the 4h TF today. It seems to work both waiting for the break and for a retracement (in this case 38,2).
HI Bakko,

Personally I play them this way:
Half the position on a retrace around the 50% fibo of the setup bar, if i see PA in a smaller TF of the setup bar; another half on the break of the low/high
If it doesn't retrace, I play full position on the break of the OB
Stop loss 10/20 pips below/above the low/high
Remember, location is very important. I like them in a swing low/high around ppz.
regards
  • #22,773
  • Mar 2, 2009 6:06am Mar 2, 2009 6:06am
Hi Guys

Just returning to trading after enforced absence due to family bereavement.
Looking forward to catching up with all........hope you are all doing well and amassing many pips!
PA is where its at!!
  • #22,774
  • Mar 2, 2009 6:06am Mar 2, 2009 6:06am
Becarefull with the bounce it currently gave simply because the level is very abused
  • #22,775
  • Mar 2, 2009 7:17am Mar 2, 2009 7:17am
Hi all.
I've been trading GBP/USD on demo with price action,just a quick question,what are the best time periods ?
  • #22,776
  • Mar 2, 2009 7:32am Mar 2, 2009 7:32am
Quoting pepper
Hi all.
I've been trading GBP/USD on demo with price action,just a quick question,what are the best time periods ?
Hi Pepper,

Welcome. Wasn't sure what you meant by your question.

Do you mean the best times to trade? If you are trading intraday, most say the best times are during the London and New York sessions.

Do you mean the best timeframe to trade on? There is no best, BUT everyone in this thread (couldn't think of anyone that objected to this) would strongly encourage all traders that are just starting out on learning Price Action to ONLY trade on Daily and Weekly (and I guess monthly) charts.

See this post from James16, founder of this thread for more information on best timeframes.

http://www.forexfactory.com/showpost...07&postcount=1

Josh
  • #22,777
  • Mar 2, 2009 7:51am Mar 2, 2009 7:51am
Quoting Jduester
Hi Pepper,

Welcome. Wasn't sure what you meant by your question.

Do you mean the best times to trade? If you are trading intraday, most say the best times are during the London and New York sessions.

Do you mean the best timeframe to trade on? There is no best, BUT everyone in this thread (couldn't think of anyone that objected to this) would strongly encourage all traders that are just starting out on learning Price Action to ONLY trade on Daily and Weekly (and I guess monthly) charts.

See this post from James16, founder of this thread...


Thanks
  • #22,778
  • Mar 2, 2009 8:03am Mar 2, 2009 8:03am
Hello everyone,
I'm a newbie in forex trading. I just started some three months ago and earnestly searching for a winning strategy on FF. This james16 Chart looks promising but I haven't been able to get the theory about it. Please can anyone get me a link to the full info on it?
Thanks.

God, the author of all knowledge and wisdom.
  • #22,779
  • Mar 2, 2009 8:11am Mar 2, 2009 8:11am
Hi Daresfile,

the only way you have to study James16 PA theory is to read the thread, starting from the beginning! In the first pages you can find some basic principles, but if you want to learn more you've to read, read read, and demoing demoing demoing..
You can also join James16 Private Forum..
  • #22,780
  • Mar 2, 2009 8:16am Mar 2, 2009 8:16am
Quoting bakko85
Hi Daresfile,

the only way you have to study James16 PA theory is to read the thread, starting from the beginning! In the first pages you can find some basic principles, but if you want to learn more you've to read, read read, and demoing demoing demoing..
You can also join James16 Private Forum..
I wouldn't recommend a private forum for him. Reading this thread a couple of times and mastering J16PA is what I advice first if he's that new.
This thread is like kindergarten and elementary school, and private forum is more like university.
You don't go straight to university after you just started walking.... unless you want your head to grow bigger than the rest of your body....
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