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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

  • #35,721
  • Jul 1, 2009 8:45am Jul 1, 2009 8:45am
Quoting FxMatt
Hi,

My chart below shows a 4 hour pin that developed at the 8575 daily PPZ. The subsequent bar has gone almost (short by 1 pip) to the high of the pin. Is this a valid pin once the price has retraced so far? My understanding is that ideally the right eye high will not exceed the left high eye.

Any clarification would be much appreciated.

Matt
Matt, The pin is not invalidate until either price breaks the high or the next bar does not break. The pin you have shown is WAY TOO SMALL relative to everything around it...and yes the best and clearest setups will retrace to the eye area.

Joe
  • #35,722
  • Jul 1, 2009 8:45am Jul 1, 2009 8:45am
Quoting Ryanmcd
Not trying to be a ass here but I see lots of charts of just crap, if you are new to this just stick with GOOD PB's. Don't try to force some crap trade. Find a good PB with divergence and at a swing high/low and enjoy the cash....
Hi Ryan.

I agree to let the learning Curve handle themselves, I've tried backtesting Jarroo's hard break style with like 7 years of data on several pairs and had really big problems setting the Hard 30-40 pips SL and on where to move to BE.
I think I still haven't got the experience to Identify the best PA for that style, because Jarroo has traded them with exceptional success for a long time.

That being said, I'm back to the dailies with fixed fractional risk MM with my SL placed before the PA, if I wanted to increase position size, I'll get a lower timeframe like 4H, been trying that for a few days now and still are overwhelmed, I'm a slow learner, still dailies for me till october or next year I think.

Sincerely,

Marcel.
  • #35,723
  • Jul 1, 2009 8:49am Jul 1, 2009 8:49am
Quoting joebryce
Matt, The pin is not invalidate until either price breaks the high or the next bar does not break. The pin you have shown is WAY TOO SMALL relative to everything around it.

Joe
Thanks Joe, that makes sense

Regards
Matt
  • #35,724
  • Jul 1, 2009 8:49am Jul 1, 2009 8:49am
Quoting Ryanmcd
Just loaded the desktop, WAY better. Thanks so much!
thanku for all that you share
i agree that the way rac trades is very sophisticated, but it is mainly derived from fibs. i wouldnt recommend trying to copy him if you are not experienced, so just take it as educational material. he also provides us w/ pearls of wisdom as far as market direction & corelation. jaroo is probably the most advanced j16 type trader here, definitely the one to pay attention to the most. everyone here stands to learn a lot from him. he is wise in that he strictly employs the j16 "this is critical" methodology. so thanku again guys for all that you are teaching us & your continued contributions.
  • #35,725
  • Jul 1, 2009 8:51am Jul 1, 2009 8:51am
Quoting FxMatt
Hi,

My chart below shows a 4 hour pin that developed at the 8575 daily PPZ. The subsequent bar has gone almost (short by 1 pip) to the high of the pin. Is this a valid pin once the price has retraced so far? My understanding is that ideally the right eye high will not exceed the left high eye.

Any clarification would be much appreciated.

Matt
Hi Matt,

Note that the next bar didn't trigger the trade, I mean, it didn't even break the "not so good pib bar" (the bar is too small)...

I think you guys do well posting your charts, even if they are not good analysis... this is the only way to have the pros (not mine) comments about them...
Regards,
luso
  • #35,726
  • Jul 1, 2009 8:52am Jul 1, 2009 8:52am
Uj.

Trigger: 1H double top.
Attached Images
I believe . . .
  • #35,727
  • Jul 1, 2009 8:55am Jul 1, 2009 8:55am
Quoting FxMatt
Thanks Ghous. I didn't take the bar as it has not broken the low of the pin but I was just trying to clarify a point that I was uncertain about.

I guess that I will learn from my own experience and not bother the forum with questions in the future.

Thanks for your help Ghous
you're taking us wrong Bro.

Nobody intended any harm to you or your thoughts. because you asked the posts corrected you. Wonder what's setting you off...
I believe . . .
  • #35,728
  • Jul 1, 2009 8:57am Jul 1, 2009 8:57am
Hi,

Is there a way for Metatrader to alert you on a single pinbar formation across a series of pairs?

In a email / SMS etc ??

Or do most people just scan the charts and look for them?
  • #35,729
  • Jul 1, 2009 8:58am Jul 1, 2009 8:58am
Quoting misterhog
Hi,

Is there a way for Metatrader to alert you on a single pinbar formation across a series of pairs?

In a email / SMS etc ??

Or do most people just scan the charts and look for them?
We prefer to treat it more like a serious business actually
I believe . . .
  • #35,730
  • Jul 1, 2009 9:20am Jul 1, 2009 9:20am
Guys, what do you think about this pinbar? Its high is at some resistance and my target would be around 80 pips up... which means 1:1 RR ratio... suggestions?
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Live it or leave it!
  • #35,731
  • Jul 1, 2009 9:25am Jul 1, 2009 9:25am
Here's something I'm watching to give me idea about possible early short entries on fiber and cable...
weaker oil = weaker fiber and cable
Either way if i get PA, the stop will be above bar's high (june29 around 72.20
Attached Image (click to enlarge)
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Attached Images
  • #35,732
  • Jul 1, 2009 9:27am Jul 1, 2009 9:27am
Quoting zimdonks
Afternoon supreme-chaos,
Could you please confirm my PPZ levels are accurate for my EURCAD post below.
I have been working extra hard of late to pick up PPZ and s/r levels
(enough of buying in resistence and selling into support!!!)
Id like an outside opinion, if you wouldn't mind.
thanks
richard
Greetings Richard,
U seem to be doing well, the PPZ u laid out seem fine, imho.
Good thing i have Alpari UK...
there seem to be a PPZ running from 1.6230-60 since December2002
immediate possible minor PPZ (below price) are at 1.6180, 1.61 areas.
Then the 1.60 area.
U could've also put a ascending trendline (or ascending triangle, if u put a horizontal line on top of June29 - July1 highs) on H4, connecting June24 & 29 Lows. This up-TL break (as u can see) fits nicely with the H4 BEOB down-break.

Do continue to post charts here. I'm sure many will be able to comment. The more we post, the faster we learn, the better we get
  • #35,733
  • Jul 1, 2009 9:46am Jul 1, 2009 9:46am
Quoting supremeChaos
Greetings Richard,
U seem to be doing well, the PPZ u laid out seem fine, imho.
Good thing i have Alpari UK...
there seem to be a PPZ running from 1.6230-60 since December2002
immediate possible minor PPZ (below price) are at 1.6180, 1.61 areas.
Then the 1.60 area.
U could've also put a ascending trendline (or ascending triangle, if u put a horizontal line on top of June29 - July1 highs) on H4, connecting June24 & 29 Lows. This up-TL break (as u can see) fits nicely with the H4 BEOB down-break.

Do continue to post charts here. I'm sure...
Thanks very much supremechaos!
its a good feeling knowing im on the right track! its definately not the fast track but "beware of the slow starter" haha.

thanks again, your comments are much appreciated.

edit: Thanks for that little ascending triangle tip
  • #35,734
  • Jul 1, 2009 9:53am Jul 1, 2009 9:53am
Quoting raczekfx
Here's something I'm watching to give me idea about possible early short entries on fiber and cable...
weaker oil = weaker fiber and cable
Either way if i get PA, the stop will be above bar's high (june29 around 72.20
got my PA....
and.. kaboom
Let's see if we can get 68.80 later today..
Attached Images
  • #35,735
  • Jul 1, 2009 10:00am Jul 1, 2009 10:00am
and price is being held hostage by 61fib and ppz for now.
If it let go.....

anyways, happy Canada day!!!
Attached Images
  • #35,736
  • Jul 1, 2009 10:04am Jul 1, 2009 10:04am
Quoting Slurpee
Guys, what do you think about this pinbar? Its high is at some resistance and my target would be around 80 pips up... which means 1:1 RR ratio... suggestions?
Hey Slurp

I would be careful with this one personally slurpee. It has a very poor close IMO. While it is technically a pin, the close is much lower then the open, giving the bar more of a bearish look to me then a pinbar type look. That and the 6500 mark with many bar highs right above it would have me very weary.

Best
Mike
  • #35,737
  • Jul 1, 2009 10:05am Jul 1, 2009 10:05am
Quoting raczekfx
and price is being held hostage by 61fib and ppz for now.
If it let go.....

anyways, happy Canada day!!!
nice trading Mark, happy Canada day to you and our other Canadian friends
  • #35,738
  • Edited 10:18am Jul 1, 2009 10:07am | Edited 10:18am
Quoting misterhog
Hi,

Is there a way for Metatrader to alert you on a single pinbar formation across a series of pairs?

In a email / SMS etc ??

Or do most people just scan the charts and look for them?
Try subscribing with alertfx
If you reside in the states I think they can send an sms message to you when price of a certain currency reaches a certain price, Jim also uses that alert service when he's not at his trading comp.

Dude... My mistake... I thought you were writing about price alerts... sorry, the link mike gave is a good one though.
  • #35,739
  • Jul 1, 2009 10:07am Jul 1, 2009 10:07am
Quoting ghous
We prefer to treat it more like a serious business actually
Easy ghous lol, you can still treat it as a serious business and have alerts sent and then look at the chart to determine if it is worth trading. Some people don't have the ability to access the charts as much.

My answer would be to check out some of the Price Action alert indicators, I have attached an example scott posted. Now I am sure the indicator is the tough part to making, getting an alert attached to it would probably be the easiest part. I have no idea how to do that but wanted to give you a starting place. I also have not tried the indicator either way. Scott is a good guy though give him a shout.

http://www.forexfactory.com/showpost...ostcount=34274

Best
Mike
  • #35,740
  • Jul 1, 2009 10:09am Jul 1, 2009 10:09am
Quoting mbqb11
Hey Slurp

I would be careful with this one personally slurpee. It has a very poor close IMO. While it is technically a pin, the close is much lower then the open, giving the bar more of a bearish look to me then a pinbar type look. That and the 6500 mark with many bar highs right above it would have me very weary.

Best
Mike
Thank you, Mike! I appreciate it...
Live it or leave it!
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