james16 Chart Thread | Page 1668 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #33,341
  • Jun 14, 2009 8:28pm Jun 14, 2009 8:28pm
Quote
I second that from the bottom of my heart!
Gotta love Jim for all he has given here and in the PF.

james16,
in addition to the previous posts, i'd like to put in mine:
a partial BIG thank you too..
Why partial only??
I have an eerie feeling that (hopefully) probably the other partial will come within this year or next....
  • #33,342
  • Jun 14, 2009 8:44pm Jun 14, 2009 8:44pm
Hi guys, wish you all success this week
  • #33,343
  • Jun 14, 2009 9:53pm Jun 14, 2009 9:53pm
Hi everyone

Just a brief introduction. My story’s pretty much the standard one. Started trading thinking I could make a quick buck using indicators on a 1 minute chart, lost money blah blah blah. You know the story.

I stopped trading for a while, but after re-wiring my expectations I’d like to get back into it. Properly this time. I’ve started making my way through the thread – the effort James and others have obviously put in is humbling. I hope to eventually be confident enough in my trading approach to contribute.

Thanks again.
Peace.
  • #33,344
  • Jun 14, 2009 10:41pm Jun 14, 2009 10:41pm
Greetings 00PIP!

Enjoy the thread further....
Keep it up & Good luck!
  • #33,345
  • Jun 14, 2009 10:59pm Jun 14, 2009 10:59pm
A couple of double 4 hour inside bars
Attached Image(s) (click to enlarge)
Click to Enlarge Name: james4hour1.gif Size: 10 KB
Click to Enlarge Name: james4hour2.gif Size: 11 KB
  • #33,346
  • Jun 14, 2009 11:14pm Jun 14, 2009 11:14pm
Quoting Dale
A couple of double 4 hour inside bars
I wanted to add my thoughts on 4H inside bars just to help anyone new looking in. Dale has been trading a lot longer than I have and knows all this stuff already but I hope he doesn't mind me using his post as a springboard for some points. He's also referring to 4H double inside bars which Jarro is also testing and which seem to work well. I wanted to add something about single IBs on the 4H timeframe in general.

Firstly, I am not a big 4H trader but there a few things I've learnt from the other guys.

Inside Bars are kinda tricky and a lot of people stay away from them even on daily or weekly. But on four hour they show up all the time (look back over your charts) and are next to meaningless on their own. An inside bar shows price winding up and building up pressure for an imminent breakout. If it does this over a whole week that's a much bigger sign than if it does it over four hours. And crucially there are times when the market is quieter during the day, the Asian session being one of them, so an inside bar on the four hour is bound to show up sometime during Asia after the volatility of the late New York session (especially the friday NY close bar).

I think the best way to use an inside bar is in some kind of combination, either as a DIBS trade, or as a double or triple inside bar (like Jarroo is currently researching and like Dale posted), or even as a tip off at a critical level on daily or weekly. Looking at 4H charts there are a ton of IBs on there and if you just played all of them with straddled orders you could get burnt.

DIBS uses inside bars in the first six or seven hours of the London session, in the direction of the daily trend, and with a heavily trending pair. And even then it has a low win rate but great RR. That's the kind of heavy heavy confluence you need to play Inside Bars.

When I read the beginning of this thread I thought that I needed to identify all these patterns and look for them. I think all the bars are different and some are easier than others. In my opinion the two greatest bars are pinbars and outside bars. In fact they are all you need. Then I think it's helpful to add the others slowly and looking at what each one needs to make it playable. But the simple power of outside bars and pinbars at heavily confluenced swing highs and lows cannot be underestimated.

Thanks for letting me spring off from your post Dale. It really does help me to get my thoughts in order when I post and hopefully will help people who are really new too.
  • #33,347
  • Jun 14, 2009 11:20pm Jun 14, 2009 11:20pm
lolololol

Quoting TiaForex
When I saw Bryan's avatar I had a little private bet to myself that you'd be posting about it James...

If I knew that, then I really have been spending a lot of time on this thread.
  • #33,348
  • Jun 14, 2009 11:21pm Jun 14, 2009 11:21pm
Quoting Ryanmcd
If I can wait doing only 3-5min charts you should be able to as well.
beautiful chart uve got there... hows it coming now?
  • #33,349
  • Jun 14, 2009 11:32pm Jun 14, 2009 11:32pm
Just how important is 137 to EURJPY? It's a lesson in trading and patience indeed!
  • #33,350
  • Edited 11:51pm Jun 14, 2009 11:36pm | Edited 11:51pm
Quoting TiaForex
Hi Kean,

I think this is a very valid observation and shows that you're really onto something and thinking about stuff the right way.
Nice post Tia. Your comments are pretty much dead on about different styles of managing trades.

The higher the quality of the setup, the easier they are to manage. Stop losses are best placed at the top/bottom on a given PA setup. The key qualifier "is this an A++ PA setup?" The recent PBs on EURCAD and USDCAD were easily not taken because they were not A+ trades. Could they have been take and managed tightly? Absolutely. ( Probably would have ended up as break even trades or a small loss if I had taken them.)

So, I guess I would answer kean's question . . is there any point to the stop loss being at the end of a Pin Bar . .Yes, depends on the quality of the Pin Bar i.e. location and supporting confluences. If it does not quality as a A+ setup then managing it tightly is a must in my book. (imo)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #33,351
  • Jun 14, 2009 11:47pm Jun 14, 2009 11:47pm
Quote
Inside Bars are kinda tricky...But on four hour they show up all the time (look back over your charts) and are next to meaningless on their own. An inside bar shows price winding up and building up pressure for an imminent breakout.........
Quote
I think the best way to use an inside bar is in some kind of combination, either as a DIBS trade, or as a double or triple inside bar (like ....Looking at 4H charts there are a ton of IBs on there and if you just played all of them with straddled orders you could get burnt.
Nice post, Aaron/TiaForex.

IBs do show up more on H4, & a lot more on lower timeframes.
just like pinbars, outside bars, etc, not all IBs are the same; IBs must be traded with discretion --- IBs are not 100% mechanical trades; with confluence/s (similar confluences with j16 PAs), IBs do well. reviewing DIBS thread will always helps.
DIBS & j16 = another powerful combo
  • #33,352
  • Edited Jun 15, 2009 12:13am Jun 14, 2009 11:50pm | Edited Jun 15, 2009 12:13am
Quoting TiaForex
I wanted to add my thoughts on 4H inside bars just to help anyone new looking in. Dale has been trading a lot longer than I have and knows all this stuff already but I hope he doesn't mind me using his post as a springboard for some points. He's also referring to 4H double inside bars which Jarro is also testing and which seem to work well. I wanted to add something about single IBs on the 4H timeframe in general.

Firstly, I am not a big 4H trader but there a few things I've learnt from the other guys.

Inside Bars are kinda tricky and a lot...
I was just about to post this chart when I saw this post Tia. Inside Bars as with any other PA formations, can be traded as long as they meet our strict criteria of location and supportive confluences. Again being very picky is the key.

I'm sure you have heard of I4Bs (Inside 4 Bar) ? http://www.forexfactory.com/showpost...ostcount=15851


Well the Eur/Jpy has Iniside . . 30something . . Bar on the Weekly lol.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #33,353
  • Jun 15, 2009 12:01am Jun 15, 2009 12:01am
LOL - Consolidation?........or Reversal?
  • #33,354
  • Jun 15, 2009 12:03am Jun 15, 2009 12:03am
Quoting Alexandra
LOL - Consolidation?........or Reversal?
I'm looking for a hard break on either side. Daily PA may give a hint on where it may go.
Indicators show the past. Price Action "Indicates" the future.
  • #33,355
  • Jun 15, 2009 12:04am Jun 15, 2009 12:04am
Quote
Well the Eur/Jpy has Iniside . . 30something . . Bar on the Weekly lol.

jarroo,
counting from that last doji, make that I46B, to be specific. lol
  • #33,356
  • Jun 15, 2009 12:05am Jun 15, 2009 12:05am
Quoting supremeChaos
jarroo,
counting from that last doji, make that I46B, to be specific. lol
I gave up after 30. lol
Indicators show the past. Price Action "Indicates" the future.
  • #33,357
  • Jun 15, 2009 12:07am Jun 15, 2009 12:07am
Quoting jarroo
I'm looking for a hard break on either side. Daily PA may give a hint on where it may go.
Agreed For the moment, it is drifting with E/D; let's see if U/J will give it a nudge.

Nice areas in here EURUSD and USDCHF
  • #33,358
  • Jun 15, 2009 12:10am Jun 15, 2009 12:10am
Quoting Dale
A couple of double 4 hour inside bars
Nice Dale. Do you find that since Double Inside bars are not that frequent, its best to just take them as is or do you have a set of parameters that have to be met? From what I've seen, the "as is " approach is not that bad.
Indicators show the past. Price Action "Indicates" the future.
  • #33,359
  • Jun 15, 2009 12:10am Jun 15, 2009 12:10am
Quoting jarroo
I was just about to post this chart when I saw this post Tia. Inside Bars as with any other PA formation, can be traded as long as they meet our strict criteria of location and supportive confluences. Again being very picky is the key.

I'm sure you have heard of I4Bs (Inside 4 Bar) ? http://www.forexfactory.com/showpost...ostcount=15851


Well the Eur/Jpy has Iniside . . 30something . . Bar on the Weekly lol.
Agreed Jim. And I didn't mean to imply they were untradeable at all. In fact I am testing various types of IB right now.

I remember when I first came across this thread I wanted to trade all the bars, all timeframes and in all locations.... It finally started to click with me when I focussed on one type of bar at a time and built up slowly. I just wanted to put that out there for anyone that was new and going through what I was when I started.

Those I4Bs are great. The I46Bs are even better...
  • #33,360
  • Jun 15, 2009 12:17am Jun 15, 2009 12:17am
Quoting TiaForex
Agreed Jim. And I didn't mean to imply they were untradeable at all. In fact I am testing various types of IB right now.

I remember when I first came across this thread I wanted to trade all the bars, all timeframes and in all locations.... It finally started to click with me when I focussed on one type of bar at a time and built up slowly. I just wanted to put that out there for anyone that was new and going through what I was when I started.

Those I4Bs are great. The I46Bs are even better...
Understood Tia. Your posts are a great read and has helped many new and old traders, more then you probably know.

Keep up the great work.

Jim
Indicators show the past. Price Action "Indicates" the future.
37 traders viewing now