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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

  • #27,221
  • Apr 16, 2009 4:15pm Apr 16, 2009 4:15pm
Quoting jarroo
Well its not a valid Pin Bar because the Open/Close is not within the previous Bar (candle). But I agree KissFan waiting to see it closes at a BEOB on the Daily at a swing High is a better trading opportunity by far.
OK. School me Jaroo. This did NOT open/close within the previous bar? Does the wick count on the previous bar. Thanks in advance bro!
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  • #27,222
  • Apr 16, 2009 4:17pm Apr 16, 2009 4:17pm
Hey KissFan

Thanks

I thought theright eye looked a little droopy.

How about this one on the H4? I know the entry hasn't set yet, but
the open & close of the nose are much tighter.
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fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #27,223
  • Apr 16, 2009 4:19pm Apr 16, 2009 4:19pm
Quoting KissFan
OK. School me Jaroo. This did NOT open/close within the previous bar? Does the wick count on the previous bar. Thanks in advance bro!
Yes, the wick counts. That PB's Open/Close is within the previous Bar.
Indicators show the past. Price Action "Indicates" the future.
  • #27,224
  • Apr 16, 2009 4:20pm Apr 16, 2009 4:20pm
Guys

Having just worked thru the thread(again) I am now working on my trading plan which I aim to follow for the next 3 months as recommended by J16.
Can anyone post an example of their trading plan or refer me to somewhere I can get a trading plan template? I would like to keep it simple as possible, because as mike says, simplicity is the name of the game! Any advice would be appreciated,

berti
PA is where its at!!
  • #27,225
  • Apr 16, 2009 4:25pm Apr 16, 2009 4:25pm
Quoting fxScavenger
Hey KissFan

Thanks

I thought theright eye looked a little droopy.

How about this one on the H4? I know the entry hasn't set yet, but
the open & close of the nose are much tighter.
Good PB. Not an A trade b/c its located between PPZ and support. One caveat tho. My daily will close in 2.5 hrs. This could be the start of a retrace before a move down based on the daily bearish bar. You are getting the idea. Please do not assume that I will be trading this pair short tonight as I reference this daily bar time and again. I most likely will not. I just want you to be aware of your surroundings.


K.I.S.S.
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  • #27,226
  • Apr 16, 2009 4:25pm Apr 16, 2009 4:25pm
Quoting bertie123
Guys

Having just worked thru the thread(again) I am now working on my trading plan which I aim to follow for the next 3 months as recommended by J16.
Can anyone post an example of their trading plan or refer me to somewhere I can get a trading plan template? I would like to keep it simple as possible, because as mike says, simplicity is the name of the game! Any advice would be appreciated,

berti
Just PMed you.
  • #27,227
  • Apr 16, 2009 4:27pm Apr 16, 2009 4:27pm
Quoting jarroo
Yes, the wick counts. That PB's Open/Close is within the previous Bar.
Ok. Maybe I was looking at the wrong bar when I responded. Thought for a minute I had learned some key info wwwwwwwwwwrong. A little Jacko lingo there.
  • #27,228
  • Apr 16, 2009 4:29pm Apr 16, 2009 4:29pm
The short looks perfect to me accept its against the trend.

still unsure of entry points
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fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #27,229
  • Apr 16, 2009 4:33pm Apr 16, 2009 4:33pm
First time with Ping software... bear with me...
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  • #27,230
  • Edited 7:06pm Apr 16, 2009 4:39pm | Edited 7:06pm
Quoting Jduester
First time with Ping software... bear with me...
Higher time frame PA rules over lower time frame PA. They do not conflict or off set.

I agree that it would be nice if the Close would be lower the previous bar, but it's not a trade breaker for me. Let's see how she breaks. (if she breaks).
Indicators show the past. Price Action "Indicates" the future.
  • #27,231
  • Apr 16, 2009 4:43pm Apr 16, 2009 4:43pm
Hi,

The location of the pin was good, but it was a too small PB...
I must say, based on my 4 months experience on james16 method, that it is very very very rare a setup like this doesn't offer at least 30 pips (I can't remember one that didn't offer 30 pips and give you the chance to move stop to be, if you traded like Jim)
This just proves that its all about probabilities.
A solid money management is required to win in the long term.

By the way, I took a loss on this one too...

Take care

Quoting Pipsi cola
took a loss on e/j..
bought break of a daily bar high. bounce off 130. close above 131 ppz.
as you can see today's range exceeded the range of the signal candle.
  • #27,232
  • Apr 16, 2009 4:45pm Apr 16, 2009 4:45pm
Quoting raczekfx
interesting read. tx F007
time to move to ducascopy..
or dbFX
One Chart is Worth Ten Thousand Words.
  • #27,233
  • Apr 16, 2009 4:53pm Apr 16, 2009 4:53pm
Quoting KissFan
Good PB. Not an A trade b/c its located between PPZ and support. One caveat tho. My daily will close in 2.5 hrs. This could be the start of a retrace before a move down based on the daily bearish bar. You are getting the idea. Please do not assume that I will be trading this pair short tonight as I reference this daily bar time and again. I most likely will not. I just want you to be aware of your surroundings.


K.I.S.S.
I just started this thread about 1pm PDT and I havn't gotten to all the 1800+
pages of postings so please excuse my not being up to speed.

3 ?'s

1) PPZ - any thing to do with Pesavento Zone?

2) Whats an A trade - definition.?

3) 2.5 hours to new day - Are you on the West Coast also.

TYIA
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #27,234
  • Apr 16, 2009 5:03pm Apr 16, 2009 5:03pm
Quoting Luso
Hi,

The location of the pin was good, but it was a too small PB...
I must say, based on my 4 months experience on james16 method, that it is very very very rare a setup like this doesn't offer at least 30 pips (I can't remember one that didn't offer 30 pips and give you the chance to move stop to be, if you traded like Jim)
This just proves that its all about probabilities.
A solid money management is required to win in the long term.

By the way, I took a loss on this one too...

Take care
i also took a loss on this one (EUR/JPY daily). i thought the setup looked decent..
  • #27,235
  • Apr 16, 2009 5:05pm Apr 16, 2009 5:05pm
Quoting jarroo
Railroad tracks (tweezers) on a given standard time frame i.e., Hourly, 4 Hour, Daily, Weekly are well known to be a reversal pattern. When they are combined i.e., 2 Hour, 8 Hour, 2 Day, . . they form a PB. So in that sense they are seen by many traders.
And not just "tweezers"/"railroad tracks". This one is an IB, but if those two bars are "combined", they form a (quazi)PB - well, technically, that would not be a PB as open and close are not within the prior bar's body; but hey it's a classic "Shooting Star" )
Attached Image
One Chart is Worth Ten Thousand Words.
  • #27,236
  • Apr 16, 2009 5:19pm Apr 16, 2009 5:19pm
Quoting Forex007
And not just "tweezers"/"railroad tracks". This one is an IB, but if those two bars are "combined", they form a (quazi)PB - well, technically, that would not be a PB as open and close are not within the prior bar's body; but hey it's a classic "Shooting Star" )

That in my book is a candle with hlave body and halve wick...meaning you have sellers but not a reversal market
  • #27,237
  • Apr 16, 2009 5:21pm Apr 16, 2009 5:21pm
usch
.
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  • #27,238
  • Apr 16, 2009 5:23pm Apr 16, 2009 5:23pm
Quoting Shermenator
That in my book is a candle with hlave body and halve wick...meaning you have sellers but not a reversal market
Really?..
Attached Image
One Chart is Worth Ten Thousand Words.
  • #27,239
  • Apr 16, 2009 5:46pm Apr 16, 2009 5:46pm
Quoting Forex007
Really?..

Yep lol...when ever I look at the market I am looking for reasons to not trade. That is a trade that if I take 10 of them I would only win 3 . I am looking for the other 7 haha.
  • #27,240
  • Apr 16, 2009 5:58pm Apr 16, 2009 5:58pm
Quoting fxScavenger
I just started this thread about 1pm PDT and I havn't gotten to all the 1800+
pages of postings so please excuse my not being up to speed.

3 ?'s

1) PPZ - any thing to do with Pesavento Zone?

2) Whats an A trade - definition.?

3) 2.5 hours to new day - Are you on the West Coast also.

TYIA
I'm in Texas. PPZ Price Pivot Zone. A trade is going to be different for different people. Also, as you get more experienced, what you may take as an "A" trade today will not even be on your list of possible trades tomorrow. Do read the thread. Pay special attention to Mike, Rac, James16, Jaroo and some others that you see posting on here for a long time. Don't pay much mind to me. I am still on my journey to "getting it".


K.I.S.S.
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