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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

  • #33,381
  • Jun 15, 2009 2:59am Jun 15, 2009 2:59am
Quoting Dale
Hi gang,

I want to tread lightly out of the respect I have for the other traders here, and especially Dr James16. I’m focused on the markets, open of the week. I will use this post to elaborate in a bit.

I almost missed these trades myself but meant to post the charts prior to entry.

Reply better soon,


Ok, I can hardly keep my eyes open right now, Trading on the west coast can mean some late hours.

I want to reply a bit tonight, then make further improvements in the morning.

Actually the above is a lead in. Prior to taking any entry,...
Thanks Dale, this is very helpful.

Now go get some sleep, buddy. lol
Indicators show the past. Price Action "Indicates" the future.
  • #33,382
  • Jun 15, 2009 3:19am Jun 15, 2009 3:19am
well I give up on this one, there will be much more better setups I'm sure, don't want to lose even a penny more then planed even if it collapses as a rock after I get out.

all the best to you jarroo brother, I'm out lol
  • #33,383
  • Jun 15, 2009 3:23am Jun 15, 2009 3:23am
Quoting datogio
well I give up on this one, there will be much more better setups I'm sure, don't want to lose even a penny more then planed even if it collapses as a rock after I get out.

all the best to you jarroo brother, I'm out lol
That's how we roll datogio. Break even on one half and a small loss on the other. That's right, even if it falls like a rock.
Indicators show the past. Price Action "Indicates" the future.
  • #33,384
  • Jun 15, 2009 3:34am Jun 15, 2009 3:34am
Quoting Dale
Hi gang,

Anyway

The double 4 hour inside bar entries I believe stand on there own, especially when traded with the daily trend.

I am forward testing them and making notes as I go and hope we can all learn to use them together.

The idea as to why I think they work is: The Forex markets are the most volatile right? So if they stop moving for two inside bars, why? There must be an event the market is looking towards.


I am a student of pin bars and hope to add them to the entries I use after I understand them.


Dale
Hi Dale,

Thanks for your post, looking forward to your charts. I have traded the double inside bars now for some years (over 3years) and was first drawn to the setup by a friend who trades only the commodities market. I find them to be reliable and above all they offer me a low risk entry into the market. They also seem to be working well in the Forex market (at present).

When combined with Pin bars, outside bars and fib ret one can get some very nice moves off them.

Z
  • #33,385
  • Jun 15, 2009 3:58am Jun 15, 2009 3:58am
Quoting jarroo
Smashing through the 1.6300 is key, if it doesn't I'll look for a possible out or break even.
if u draw a line a few pips above 1.63 on the four hour and 1hr u will see a few instances of s+r... my sell stops are at 1.6290's and then possible hurdles although minor are in red...
Attached Image(s) (click to enlarge)
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Grabbing the bull by the horns!
  • #33,386
  • Jun 15, 2009 4:07am Jun 15, 2009 4:07am
Quoting whitegoodman
if u draw a line a few pips above 1.63 on the four hour and 1hr u will see a few instances of s+r... my sell stops are at 1.6290's and then possible hurdles although minor are in red...
Thanks wgm. I was looking for a hard break through that 1.6300 to confirm my short trade. Strong level in an uptrend.
Indicators show the past. Price Action "Indicates" the future.
  • #33,387
  • Jun 15, 2009 4:18am Jun 15, 2009 4:18am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
here it is on my feed, though not at 50/61 fib ret, remembering the strong steam of this pair last week, 38% pullback might serve enough of resuming its energy. the conflicting point on its h4 seems the immediate resistance of the ma + ppz, as well the weight of D2 pinbar, so, probably better choice is to dis-regard this setup to be safe.
Attached Image (click to enlarge)
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  • #33,388
  • Jun 15, 2009 4:22am Jun 15, 2009 4:22am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting jarroo
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...
Hi Jaroo,
This is exactly where I am now at with it, I am now looking at a full stop loss for A+ set ups and much less for the non A+ set ups that I take.
Kean
  • #33,389
  • Jun 15, 2009 4:26am Jun 15, 2009 4:26am
Quoting kean
Hi Jaroo,
This is exactly where I am now at with it, I am now looking at a full stop loss for A+ set ups and much less for the non A+ set ups that I take.
Kean
Obviously we want to only take A+ trades, that is the heart of the J16 way. But I agree, there are setups that are not A+ but in the "A" catagory that are worth a hard break look.
Indicators show the past. Price Action "Indicates" the future.
  • #33,390
  • Jun 15, 2009 4:46am Jun 15, 2009 4:46am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
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...
Hi Aaron,
Can I just ask you a question regarding how you play outside bars? My question is also connected with my recent post about stop loss positioning, that you answered so well. As a result of the great response here, I am now looking at either placing my stop loss at the end of the pinbars in the case of A+ set ups or, for non A+ set ups that I take, placing them much tighter. I have not really got into trading outside bars yet as I have always been put off by the size of them. My question is...Should outside bars be treated in the same way as pinbars with regards to stop loss position? If you have an A+ Outside bar and you place the stop at the end, it could be 400-500pips away!

Regards, Kean
  • #33,391
  • Jun 15, 2009 4:46am Jun 15, 2009 4:46am
Quote
If you can’t trade a sideways market consistently at breakeven or better you have ZERO chance in this business. Very few can and that’s where the 95/5 failure to success ratio comes from. Its that simple.



James wrote this on his chart Post# 33279

I just wanted to make it easy for all to see.



Thankyou James16

Dale
  • #33,392
  • Jun 15, 2009 4:57am Jun 15, 2009 4:57am
Quoting Dale
James wrote this on his chart Post# 33279

I just wanted to make it easy for all to see.


Thankyou James16

Dale
One thing about James16, he doesn't sugar coat to many important things. That about him, I like.
Indicators show the past. Price Action "Indicates" the future.
  • #33,393
  • Jun 15, 2009 5:38am Jun 15, 2009 5:38am
Quoting jarroo
One thing about James16, he doesn't sugar coat to many important things. That about him, I like.
That's why he's a great teacher, he teaches how to face the reality and not hope for the best but manage for the best. That's the main concept in trading isn't it?
  • #33,394
  • Jun 15, 2009 7:16am Jun 15, 2009 7:16am
Quoting raczekfx
We'll eat fiber and cable for breakfast, lunch and supper throughout the next week...
That was just a breakfast...closing for now..
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  • #33,395
  • Jun 15, 2009 7:23am Jun 15, 2009 7:23am
Quoting raczekfx
That was just a breakfast...closing for now..
Good one Raczekfx. I'm up 204 currently from the fall, stops tight. It has definately run out of steam for the moment. I'll probably get taken out when Geitner speaks and then I'll be looking for more PA to short again.

K.I.S.S.
  • #33,396
  • Jun 15, 2009 7:39am Jun 15, 2009 7:39am
sumptuous breakfast for both of you raczekfx, KissFan!
I had a small bite at eur$, albeit on demo (too bad i went out earlier, unable to monitor the markets ).


KissFan/Roger,
eur$ PPZ (&probably some Fibs, MAs) at 1.3850. it's a PPZ since way back July2007 (see daily chart). I'll get in if there's an opportunity.



Can't wait for raczekfx's lunch and supper today & the subsequent ones throughout this week....
  • #33,397
  • Jun 15, 2009 7:48am Jun 15, 2009 7:48am
Quoting KissFan
I'm up 204 currently from the fall, stops tight. It has definately run out of steam for the moment. I'll probably get taken out when Geitner speaks and then I'll be looking for more PA to short again.

K.I.S.S.



Quoting supremeChaos;2803381<br /> <br /> Can't wait for [B
raczekfx'[/b]s lunch and supper today & the subsequent ones throughout this week....
don't wait... just watch alexandra's charts and market views and to the opposite..



.
ps. kidding off course
  • #33,398
  • Jun 15, 2009 7:57am Jun 15, 2009 7:57am
raczekfx.. u make it look so easy !!!



cheers
  • #33,399
  • Jun 15, 2009 8:01am Jun 15, 2009 8:01am
just a small shout-out to habeeb who's currently online
  • #33,400
  • Jun 15, 2009 8:01am Jun 15, 2009 8:01am


ps. kidding off course [/quote]
What does not kill me makes me stronger. Friedrich Nietzsche,
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