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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

  • #35,321
  • Jun 28, 2009 8:35am Jun 28, 2009 8:35am
Quoting lindsayf
just on the MM topic..I generally open 2 positions with dif TP's..and manage things that way...BUT...I have would like a simple EA that will move my stop to BE at a predetermined level. I have the 'BE expert' but it seems to only work on one trade and leaves the other sitting there. Can anyone tell me either what I am doing wrong..or tell me where there is an EA that will move all trades on a pair to BE. That MM EA (hopwood) in earleir post gave me anxiety symptoms..jss!

L
Hi lindsayf,

Use the SwissArmy EA posted here.
Surly you remember this post on how to install any EA...

Ady27
  • #35,322
  • Edited 9:15am Jun 28, 2009 8:42am | Edited 9:15am
Quoting Jduester
These might be helpful.

http://www.candlesticker.com/Cs27.asp

http://www.candlesticker.com/Cs26.asp

http://www.yourtradingcoach.com/Vide...ng-Videos.html (video 6)

http://thepatternsite.com/HangingMan.html (actually says it's a continuation signal)

I like the research and testing you've done with these Ghous. It seems you are successful quite often with these limited risk setups.

Josh
yeah of coarse I haven't invented anything. IPB has always been a part of PA bars...

Thnx for the links Josh.
I believe . . .
  • #35,323
  • Edited 9:09am Jun 28, 2009 8:46am | Edited 9:09am
Quoting Revone
It really depends on the trend itself, if you see a strong up trend, with bullish Pinbars in it, and say 2 appear in the trend, and the trend continues after those pins, then you see another one, well, it's a good indication to take the damn trade and go long, it's that simple.

When I see a bullish up trend and then I see a bullish pinbar in the trend, I look back and see how to the trend reacted in the past.

Sure it's seller's weighing in and your right it's a sign that things MAY turn, but the bulls in the case I stated above were still in control,...
Well obviously nothing happens till something happens. lol!

Anticipating the future is the true art, and the PA bars are there to assist you,

But I am ok with how you look at them as far as it is working for you.

Thnx for sharing.

Regards,
Ghous.
I believe . . .
  • #35,324
  • Edited 9:09am Jun 28, 2009 8:47am | Edited 9:09am
Quoting moneda
In an uptrend (I mean during the trend and not at a pull back) a bullish pin bar looses it's value as a bullish weapon and is actually a bearish bar inside a bull's skin. The same is true for a down trend where a bearish pin bar is actually signaling a bull run round the corner.
Regards,
Ghous.

Ghous,

Very good point.... we need to remember that the color of the bar/candle does not necessarily tells us the real story. I have been considering breaking out the habit of coloring my bars in order to pay more attention to price action. I try...
.
I believe . . .
  • #35,325
  • Jun 28, 2009 8:52am Jun 28, 2009 8:52am
Quoting bakko85
Don't you consider last bar as an IPB? Like 2 consecutive IPB...
...

I wouldn;t go for it, You're right it does appear to be something like a 2 bar IPB, but I haven't gone into 2 bar 3 bars IPBs yet bakko. Try it out on demo if you want, I'll be watching it too...

One thing that strikes me however is that you would have to change the trade managment part a bit. You "cannot" take your first profit at the bar high because th2 1.76 ppz is right in the way...

In times like these I take my profit at the ppz rather than the bar high and move my stop to BE.

here's the chart again with the ppz marked (in Gold)

Regards,
Ghous.
Attached Image
I believe . . .
  • #35,326
  • Jun 28, 2009 8:54am Jun 28, 2009 8:54am
Quoting Revone
It broke the high of the master/mother candle so how could it be an IPB?

It did close within range so you could probably trade it again I am not sure. But the IPB was before the last bar, I assume you enter on that signal, with the confluence on the EMA's and so forth.
I am not sure which bar you're referring to as the mother bar Revone,

I see no problem in calling this week's bar also an IPB, though it's not in an ideal shape, the first one was a true sitter.
I believe . . .
  • #35,327
  • Jun 28, 2009 8:55am Jun 28, 2009 8:55am
Quoting bundyraider

Hi pchees,

There is a certain type of pin that rules the roost when it comes to reversals....
.
I believe . . .
  • #35,328
  • Edited 9:18am Jun 28, 2009 9:08am | Edited 9:18am
Quoting mea
I don't know, a mentor ex trader at the Chicago MT which says that MA's are not reliable at all nobody on the trading floor ever uses them because they are lacking indicators and show one only the past, yes one can use them if they show up as confirmation but one should not trade off them because off....
PA is what matters and in this case supply/demand...
I agree with you but only partly, yes MA's are supporting tools and this is precisely how I use them, if you know me and follow my posts you would know that I am not an avid follower of MAs, but I don't feel anything wrong in throwing in a couple of lines for "supporting confluence"

On the Eur/Aud setup too, the trigger was PA (IPB) it was not the support provided by the 150 EMA, though it's existence sure supported the decision.

However I disagree with your opinion that MAs are actually useless. What's the big deal abt using history? If history really is so incidental try covering all the bars up on your chart except the one undergoing action...see if you can then trade...

History is an important element in predicting the future. The horizontal supp/res levels (ppzs) use it, the naked eye uses it and so does your trading floor. What then is wrong in constructing a line out of history that does tend to hold price. And this of coarse can't be argued upon. I can throw in a million charts if you want me, showing how well price reacts to these MAs so they are obviously not useless, and not surprisingly ppl run successful systems based entirely off these lines. hence I thoroughly refute such a strong statement, but simultaneously I admit I don't use them a lot...simply because all that works can't be stuffed up into a trading methodology, specially for someone who is a strong advocate of trading with as little tools as possible. My blind entries use nothing but the naked eye to spot conspicuous supp/res levels.

Quote
PA is what matters and in this case supply/demand is right at the turning point,
BOUNCE
few years ago there was a HUGE gab which formed the S/R and several times this line worked as resistance, which is now support!
I guess you're a little mistaken here regarding the word PA. PA is Price Action and it does include bar shapes and sizes along with the general flow of price. The Eur/Aud was a PA trade, the trigger being a special bar, the IPB.

Regards,
Ghous.
I believe . . .
  • #35,329
  • Jun 28, 2009 9:34am Jun 28, 2009 9:34am
Quoting moneda
Ate Pizza at Lombardi's. It is the first pizza place in north america. Very good.

StoragePro,

I am sure that Pepe's in New Haven Connecticut was the first.... Now we are discussing subjects that we know something about!
Heh heh. Getting on a Manhattan boat tour. 3 hrs around the island. If you come here - this is great thing to do.

There is a place in Brooklyn that makes the same claim.
I'm pretty much done with all this ...
  • #35,330
  • Jun 28, 2009 9:58am Jun 28, 2009 9:58am
Quoting StoragePro
Heh heh. Getting on a Manhattan boat tour. 3 hrs around the island. If you come here - this is great thing to do.

There is a place in Brooklyn that makes the same claim.
Chicago has better pizza anyway. NY'ers only think their pizza is better because you can fold it - sure makes it taste better? lol

Chicago is thicker, and generally a bit spicier. NY is bland, flat, and floppy.
  • #35,331
  • Jun 28, 2009 10:11am Jun 28, 2009 10:11am
Quoting clockwork71
Chicago has better pizza anyway. NY'ers only think their pizza is better because you can fold it - sure makes it taste better? lol

Chicago is thicker, and generally a bit spicier. NY is bland, flat, and floppy.
If you want to eat the best pizza in the world you have to come here in Italy, no doubt
  • #35,332
  • Jun 28, 2009 10:15am Jun 28, 2009 10:15am
Quoting StoragePro
Heh heh. Getting on a Manhattan boat tour. 3 hrs around the island. If you come here - this is great thing to do.

I've done that tour, many years ago with my wife when we were in the US on holiday (before we had kids and could still do long haul destinations). You're right, its a great way to see the island.
  • #35,333
  • Jun 28, 2009 10:23am Jun 28, 2009 10:23am
dear james16 team. I 'm newbie to forex. I already read a little from this thread. could you please give me info where could I found the summary of this thread,because it's very difficult to me to read more than 2000 pages here. thanks a lot.
  • #35,334
  • Jun 28, 2009 10:27am Jun 28, 2009 10:27am
Quoting ghous
I agree with you but only partly,

History is an important element

Regards,
Ghous.


Thanks for your inside, I like to be corrected because only than I can learn from my judgements!

Yes
but big orderflow are not coming from those who do watch MA's but those make mainly decisions off S/R lines.

wouldn't you agree?

this is what i was trying to say!

And just like you said, History is an important element

S/R are historical in this case I am talking about S/R formed back in 2004 first time back 06/25/09!

Watch the PPZ 1.7208 - 1.7428 close friday....going back
to 2004-2007-2008

And this is much stronger than any IB or MA.
Like I said all kind of MA can be use to get confluence, those are highly discretionary tools.... IMHO.

PA ... did this not develop off the S/R line in this case 1.7208 as a strong bounce off buy signal!


thanks to James I can see this now!

ty
mea
  • #35,335
  • Jun 28, 2009 10:29am Jun 28, 2009 10:29am
Quoting ronald_fsm
dear james16 team. I 'm newbie to forex. I already read a little from this thread. could you please give me info where could I found the summary of this thread,because it's very difficult to me to read more than 2000 pages here. thanks a lot.
There really is no other way. Start on page 1. If your going to trade money and don't have time to devote to studying and learning just send you money to me via check and you should get the same returns. lol
  • #35,336
  • Jun 28, 2009 10:31am Jun 28, 2009 10:31am
Quoting ronald_fsm
dear james16 team. I 'm newbie to forex. I already read a little from this thread. could you please give me info where could I found the summary of this thread,because it's very difficult to me to read more than 2000 pages here. thanks a lot.

Ronald
in the upper corner you find a number "11093" click on it there you will find a PDF file with J16 summary.
if not send me a PM i will send you the PDF

luck
  • #35,337
  • Jun 28, 2009 10:35am Jun 28, 2009 10:35am
Quoting ronald_fsm
dear james16 team. I 'm newbie to forex. I already read a little from this thread. could you please give me info where could I found the summary of this thread,because it's very difficult to me to read more than 2000 pages here. thanks a lot.

better you watch first all videos at J16 as a guest and go from there.
If you read through this thread I am sure u never will start to trade because it takes you month and at the end >>>>> you forgot the beginning.

that at least happened to me, and i am sure 1000th of other noobs!
  • #35,338
  • Jun 28, 2009 10:38am Jun 28, 2009 10:38am
Quoting mea
Ronald
in the upper corner you find a number "11093" click on it there you will find a PDF file with J16 summary.
if not send me a PM i will send you the PDF

luck
Thanks mea for your kindness. i click that number and it's attachment from page 1 to 222,right? and then which one containing the summary? thanks alot
  • #35,339
  • Jun 28, 2009 10:49am Jun 28, 2009 10:49am
Quoting ronald_fsm
Thanks mea for your kindness. i click that number and it's attachment from page 1 to 222,right? and then which one containing the summary? thanks alot

sorry I do not remeber if I knew i would have told you!

this is a task to go through each and every page.

I can send the PDF if you want, but i only have part2 and did not read through either, to much stuff i do not like to read

watch the videos and if you still do not understand watch them again and again and ask q, this will be answered in this forum, believe me!
  • #35,340
  • Jun 28, 2009 10:53am Jun 28, 2009 10:53am
Or just attachemets and then hide images and look where you see pdf
files and also indicators to help some things and templates.

Rule 1 donīt horry

Look pictures what others post and learn from them and talk.

Open you charts and look past 1 day and 1 week, do you see where
are pinbars?


Read from resistant areas, nice to learn them from clocwork treat
silend servise method.

Do trades in demo only , follow page 1 rules and
remember no horry, goal is to find good most best points
to trade and make gaining pips.

Itīs so simple if you win more than loose, ewerything is
after that matematic.
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