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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

  • #24,381
  • Mar 21, 2009 2:53am Mar 21, 2009 2:53am
Quoting jarroo
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
helllo jarroo im also looking forward to the 2nd half(hope she falls to my traps), though i only managed 140pips on the first run. And BTW i still want to thank jim for this GOD blessed thread, it's really a gem.. peace to you all.
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Respect a man, and he will do all the more.
  • #24,382
  • Mar 21, 2009 7:19am Mar 21, 2009 7:19am
Quoting james16
CHART
i forgot all about the monthly pin no wonder crude has been on fire . . .
"Don't trade to trade . . . trade to win." - James16
  • #24,383
  • Mar 21, 2009 7:44am Mar 21, 2009 7:44am
Quoting james16
you have been around for a while.

charting 123's on paper charts is old school.

his paper charts were great and many old timers still use them

jim
Funny thing Jim...i recived a flyer and enrolled for the course....and at the same time i opened my first buisness venture.....so at the end of the day i had to make a choice....Trading ....or buisness.....and the wife made sure it was BUISNESS...i picked..
i never lost intrest in Ken, had his news letters all the time....i did do trading..on a part time basis...BUT no success.
Although one great benefit that came out from KEN was that i found the great American authour " VERNON HOWARD " and his works.
Also GUY FINLEY....
So for that i was truly thankful....i guess the Universe has its on way of getting us to our destination....the only problem is that i dont know what that destination is !!!!......sorry a long post for me.

baz
  • #24,384
  • Mar 21, 2009 8:33am Mar 21, 2009 8:33am
Quoting james16
CHART
Hi Jim, I have a question about that monthly pinbar, isn't the size of the pin is rather small if compared to the run down a few months before? I've been trying to put in consideration the size of the pin when compared to the bars before, just so that it will be strong enough to indicate a reversal,

Can you please give an opinion on this view?

but the location is one of a kind, can't argue with that.

Thanks.
  • #24,385
  • Mar 21, 2009 9:18am Mar 21, 2009 9:18am
im still alive...
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  • #24,386
  • Mar 21, 2009 10:14am Mar 21, 2009 10:14am
Quoting 4X=0
im still alive...
May the force continue to guide you.
  • #24,387
  • Mar 21, 2009 10:14am Mar 21, 2009 10:14am
Quoting baz
Funny thing Jim...i recived a flyer and enrolled for the course....and at the same time i opened my first buisness venture.....so at the end of the day i had to make a choice....Trading ....or buisness.....and the wife made sure it was BUISNESS...i picked..
i never lost intrest in Ken, had his news letters all the time....i did do trading..on a part time basis...BUT no success.
Although one great benefit that came out from KEN was that i found the great American authour " VERNON HOWARD " and his works.
Also GUY FINLEY....
So for that i...
Guy Finley, I second that notion, great recommendation Jim. His books are awesome, makes you see life in a different light!

HOLLA
  • #24,388
  • Mar 21, 2009 10:31am Mar 21, 2009 10:31am
Nice two day pin.confluence,But not much room to run.
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  • #24,389
  • Mar 21, 2009 10:43am Mar 21, 2009 10:43am
Quoting jlmac27
Nice two day pin.confluence,But not much room to run.
I agree jlmac. The 97.50 level is also a Weekly PPZ. I may put a buy stop above the 2 day PB and see how strong it breaks (if it breaks). It may reach recent Highs (blue box).
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Indicators show the past. Price Action "Indicates" the future.
  • #24,390
  • Mar 21, 2009 10:55am Mar 21, 2009 10:55am
Quoting jarroo
I agree jlmac. The 97.50 level is also a Weekly PPZ. I may put a buy stop above the 2 day PB and see how strong it breaks (if it breaks). It may reach recent Highs (blue box).
The lows should come before those Highs

I like the location nevertheless, i.e the 2 day pin is nicely off the 50 fib and the 93.5 ppz, the overall shape is A+ ofcaorse,

the bar lows as I mentioned earlier could be the single biggest worry IMO,

I may sit this one out.

Regards,
Ghous.
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I believe . . .
  • #24,391
  • Mar 21, 2009 11:04am Mar 21, 2009 11:04am
Quoting ghous
The lows should come before those Highs

I like the location nevertheless, i.e the 2 day pin is nicely off the 50 fib and the 93.5 ppz, the overall shape is A+ of course,

the bar lows as I mentioned earlier could be the single biggest worry IMO,

I may sit this one out.

Regards,
Ghous.
Hey ghous.

Yes I aggree, that's why I mentioned the placement of my buy stop and how Price breaks it. Meaning if Price dances slowly around thoses Lows and then break hard I'll manage it according, tight stop. It will not be a full positon trade.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #24,392
  • Mar 21, 2009 11:05am Mar 21, 2009 11:05am
Euro is a better setup IMO,

I would have liked it to give the current daily IB at 1.38 but it still is off a nice ppz zone. A great + is obviously the space it has to manipulate in

Regards,
Ghous.
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I believe . . .
  • #24,393
  • Mar 21, 2009 11:08am Mar 21, 2009 11:08am
Quoting jarroo
Hey ghous.

Yes I aggree, that's why I mentioned the placement of my buy stop and how Price breaks it. Meaning if Price dances slowly around thoses Lows and then break hard I'll manage it according, tight stop. It will not be a full positon trade.
I have little dought to how well you'll manage this trade.
I believe . . .
  • #24,394
  • Mar 21, 2009 11:20am Mar 21, 2009 11:20am
I have noticed this pattern before, E$ goes up and $J goes down. Sometimes there is more noise at this time, but this looks like a clean move. Both show opposite reversal in weekly/daily.
Any thoughts?
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  • #24,395
  • Mar 21, 2009 11:46am Mar 21, 2009 11:46am
Hi all,
this was a very busy week for me..University exam

This week i took only 2 trades, and they worked well:
- USDCAD weekly BEOB
- GBPUSD weekly pin bar

BUT i exited too early, and didn't let my profits run. I'm really starting to understand the extreme importance of MM and trading plan...

BTW, on weekly TF i can't see any wonderful setup..The only setup i like is the daily IB on EURUSD..just posted by Ghous
I think it's a quite interesting setup, i'll try it on my demo account.
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  • #24,396
  • Mar 21, 2009 12:18pm Mar 21, 2009 12:18pm
Quoting ghous
I have little doubt to how well you'll manage this trade.
They are pretty easy to manage when they act the way they're suppose to. lol

Take the Daily BUOB on the Gbp/Usd. Price breaks hard and may never look back. This action of how Price breaks the trigger should not be ignored when looking to confirm your setup.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #24,397
  • Edited Mar 22, 2009 1:31am Mar 21, 2009 12:34pm | Edited Mar 22, 2009 1:31am
Quoting ghous
Euro is a better setup IMO,

I would have liked it to give the current daily IB at 1.38 but it still is off a nice ppz zone. A great + is obviously the space it has to manipulate in

Regards,
Ghous.
I enjoy your posts and insight you provide with your posts Ghous, keep it up.


Quick question; with the IB setup on the EUR/USD would you take the break of the IB to the downside or the break of the bar before it?

Im still trying to get a hang of IB's. I started off with PB's, then Outside Bars now, I'm trying to get a feel for IB's.

Thanks
  • #24,398
  • Mar 21, 2009 5:49pm Mar 21, 2009 5:49pm
kens personal road to awakening mirrors my own and the 4 star books part of his site is truly great. some of the books he offers were impossible to find or get but he used his deep pockets to make them available once again.

that move alone got my attention and admiration.

jim



som
Quoting baz
Funny thing Jim...i recived a flyer and enrolled for the course....and at the same time i opened my first buisness venture.....so at the end of the day i had to make a choice....Trading ....or buisness.....and the wife made sure it was BUISNESS...i picked..
i never lost intrest in Ken, had his news letters all the time....i did do trading..on a part time basis...BUT no success.
Although one great benefit that came out from KEN was that i found the great American authour " VERNON HOWARD " and his works.
Also GUY FINLEY....
So for that i was truly...
  • #24,399
  • Mar 21, 2009 5:51pm Mar 21, 2009 5:51pm
yes in comparison to monthly range of prior bars it was short but that is relative. visually it would have been more appealing to have seen this bar with a bit longer nose but it qualifies esecially with where it is located.

Quoting marcelnyo
Hi Jim, I have a question about that monthly pinbar, isn't the size of the pin is rather small if compared to the run down a few months before? I've been trying to put in consideration the size of the pin when compared to the bars before, just so that it will be strong enough to indicate a reversal,

Can you please give an opinion on this view?

but the location is one of a kind, can't argue with that.

Thanks.
  • #24,400
  • Mar 21, 2009 9:05pm Mar 21, 2009 9:05pm
Quoting ghous
Euro is a better setup IMO,

I would have liked it to give the current daily IB at 1.38 but it still is off a nice ppz zone. A great + is obviously the space it has to manipulate in

Regards,
Ghous.
I was looking at USD and EUR ETFs that were spit out by my stock filter. The EUR ETF shorts the euro, and is oversold and at PPZ. The USD bull etf is also oversold and at PPZ. So they seem to agree that the EURUSD is due to head down, at least short term.
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