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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

  • #36,341
  • Jul 6, 2009 2:51am Jul 6, 2009 2:51am
Quoting Publius
Hi!
It is my first post here so welcome all. I really appreciate threads like this, I learn loads of stuff.

My question is about trade made by James 3 years ago The chart first:
Attachment

I...
Hi Publius and welcome to our "little" old thread.

As ghous and others has mentioned, this is a method of trading that has a very basic utility and can be used to enchanced every system out there you can imagine, PA + SR are the basic foundations of trading IMO.

Now I'm quite sure that this question goes to James16 as he is the one you've quoted, but I'd like to give my view too if you don't mind.

As a method and not a rigid system, the PA presented here, the Three Bar Low Higher Close, located at a swing low is the best place to trade these setups, at least for the new folks it would be easier, there are other places you can trade them at, but that's advanced stuffs for the seniors (I ain't one of em).

The most conservative way to trade these setups are entry on the break of the PA bar, which means here the break of the high, I'm sure you're already aware of that.

Now come the most tricky part of our trading method, the exit.
From here on out, if you're in the trade, you'll have a number of options.

1. Take your Full profit on the first Price Pivot Zone (PPZ) you encounter.
2. Take partial profit on the first PPZ and move your stop to BE.
3. Trail your stop below the price bars or below PPZ.

It all depends on what you're comfortable at, every person has a comfort level in which they prefer to do what they do, no single person is the same, you can get 10 people to trade this setup and you'll have 10 different results, that's the beauty of PA, you can chisel yourself into something you'd like to be, or something you're meant to be, and PA+SR is the most appropriate tool to do so.

That's about my view, but I'm sure you'll want to hear from the seniors about this.

Please post your charts here from time to time.

Sincerely.

Marcel.
  • #36,342
  • Jul 6, 2009 2:51am Jul 6, 2009 2:51am
Quoting CkM8
I find it funny that they seem to almost always say exactly the opposite of what the market is going to do.
They're almost like an indicator.
Yeah! I agree, they are almost like an indicator
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #36,343
  • Jul 6, 2009 2:53am Jul 6, 2009 2:53am
Quoting ghous
Good start to the week.
I take it that's the PPZ and Trendline touch? I see 1.4000 and a wedge somewhere

I dunno about the fibs though. I'm still reading rac's posts.

Great trades ghous
  • #36,344
  • Jul 6, 2009 3:02am Jul 6, 2009 3:02am
here one im watching closely. nice weeklt IB mabye gonna break hard??
jon
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PATIENCE... DISCIPLINE
  • #36,345
  • Jul 6, 2009 3:03am Jul 6, 2009 3:03am
Josh, here's that setup again. This one more than paid for the 2 that didn't.
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Never underestimate an idiot.
  • #36,346
  • Jul 6, 2009 3:09am Jul 6, 2009 3:09am
Quoting uncle gromit
Josh, here's that setup again. This one more than paid for the 2 that didn't.
And another.
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Never underestimate an idiot.
  • #36,347
  • Jul 6, 2009 4:00am Jul 6, 2009 4:00am
Quote
There! That's the winning approach. You get that through your head and you're more than half the way down the road to success.

I get this great feeling when I see such posts. Ppl getting it just right.

ghous thanks for the encouragement
  • #36,348
  • Jul 6, 2009 4:11am Jul 6, 2009 4:11am
Quoting CkM8
I find it funny that they seem to almost always say exactly the opposite of what the market is going to do.
They're almost like an indicator.
That is why it's better not to listen to news. they play tricks with the mind & sometimes successfully sways the viewers' inclinations/perspectives.

Quoting CkM8
....
I've been a long time lurker and decided to be a little more active on the thread
CkM8, uncle gromit,
i'm 1 of many who appreciate more posts from more thread viewers.
Keep it up!


Quoting Basber
Thank You For The Attention Really Appreciate It I Hope That Too For People I Know In My Hometown ...
Yes, i hope to visit Iran one day.
by the way, did u notice the semblance of US Pres. Bush & Iran's Pres. Ahmadinejad(same face shape, same hair & facial feature)?


Quoting Basber
Sorry Could You Guys Send The Picture Of Your Chart As Well ? I Don't See Any PB In H4 ?
precisely why i advocate mentioning the brokers used (if the broker name is not visible in a chart; & when there is no chart accompanying a post)
Mainly to avoid confusion.
  • #36,349
  • Jul 6, 2009 4:19am Jul 6, 2009 4:19am
Quoting zimdonks
morning ghous, three great trades already and i haven't even had my morning cup of coffee yet. im jealous haha

was just reading through some charts patterns for bullish, bearish reversals and trend continuation.

i have a question:

it reads "three bullish soldiers - is a highly reliable bullish reversal pattern" but........ it does not go on to say whether the same is true for three bearish soldiers i.e. a bearish reversal pattern.

is this the case?
i have looked through my charts and found an example, and it seems to...
I've never really heard of any soldiers or crows, heard abt sisters and brothers though,

But I guess if your three soldiers guide you on a bullish reversal pattern, there upside counterparts should do the reverse and point towards a bearish reversal pattern just like you spotted on the chart.

reading is one thing implementing and doing further research is another.
I believe . . .
  • #36,350
  • Jul 6, 2009 4:20am Jul 6, 2009 4:20am
Quoting CkM8
Hope you don't mind me borrowing your trademarked checkmarks on the chart setups
I've been a long time lurker and decided to be a little more active on the thread
Those were seriously good charts Bro. We all would really like to see more from you. You shouldn't be a silent lurker......not when you know your stuff.

Regards,
Ghous.
I believe . . .
  • #36,351
  • Jul 6, 2009 4:33am Jul 6, 2009 4:33am
jarroo, g_j_hook@yah, & uncle gromit's recent charts (gbp crosses) are deeply in the red/black (bearish). lol

I'm sure many are aware of/have been waiting for a possible range breakout on gbp$ like the similar view i posted here last June30. seems today was the day for that breakout.
the next possible range for gbp$ could be 1.5800 - 1.6650/1.6750.
  • #36,352
  • Jul 6, 2009 4:37am Jul 6, 2009 4:37am
Quoting Basber
Ghous,
Would You Explain It To Me Why Did You Enter There ? Thanks I Dunno About Blind Entries.

Regards,
Basber
Hi Basber,

Blind entries refer to trades taken off ppzs without waiting for PA. There really isn't much to say just get yourself a demo and play around with it...if you stay focused and determined no one's stopping you from developing the technique.

You will need to work on trying to anticipate which ppz will hold and how well. Trend direction, fundis, ppzs, correlations, and the bars themselves all or some of these will assist you depending on your style.

My entry was based entirely off the ppzs I marked in golden. With the trend, bar highs/lows to the immediate left all contributed to the decision.

Regards,
Ghous.
I believe . . .
  • #36,353
  • Jul 6, 2009 4:51am Jul 6, 2009 4:51am
Quoting g_j_hook@yah
here one im watching closely. nice weeklt IB mabye gonna break hard??
jon
Don't think we have a lot of space there Jon 1.75 is a big concern, DAMN it's a brick wall, on the chart below notice how it has forced price to give off tails at tocuhes.

You'll have to manage it tight...

Regards,
Ghous.
Attached Image
I believe . . .
  • #36,354
  • Jul 6, 2009 5:06am Jul 6, 2009 5:06am
Hi

I agree with Ghous. This calls for tight management ie maybe on the 15minute level or less. Bounces off support can be ferrocious attimes. But if we go below then there is a real sentiment change there. I also dont like this pair because of the effects of the SNB. They just wont let this Swiss Francs strenghten a lot

Olu
If you think you can or cannot do it you are correct
  • #36,355
  • Jul 6, 2009 5:08am Jul 6, 2009 5:08am
Any suggestion for the failure of this H1 pinbar? Many thanks.
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  • #36,356
  • Jul 6, 2009 5:14am Jul 6, 2009 5:14am
Quoting kk007
Any suggestion for the failure of this H1 pinbar? Many thanks.
It didn't break so technically, it didn't fail.
  • #36,357
  • Jul 6, 2009 5:16am Jul 6, 2009 5:16am
Quoting ghous
It was a bar that just looked like a pin bar can you guess why?
You mean the PB close is a bit over the left nose?
  • #36,358
  • Jul 6, 2009 5:18am Jul 6, 2009 5:18am
I trade pinbars in 2 ways.

The first way is a 'reversion to the true trend' pinbar where the pinbar is trying to drive price back to the real trend. This is perhaps the most profitable as the trend is your friend

The second was is when it occurs at a deeeeeeeeeply overbought/sold level to herald in some reversal or consolidation. I usually like this on the 4hr or daily chart for more significance

The euro is in limbo but the expected trend seems to be down on the daily so you are fighting taekwando with the true trend. I think
If you think you can or cannot do it you are correct
  • #36,359
  • Jul 6, 2009 5:18am Jul 6, 2009 5:18am
Quoting AstonDan
It didn't break so technically, it didn't fail.

Sorry do not get your point. Can you elaborate a bit?
  • #36,360
  • Jul 6, 2009 5:19am Jul 6, 2009 5:19am
The size of the pin bar was smallish when compared to the previous bar.

On the daily chart, I did not like how the pinbar broke below the low from the previous 2 days.

I also do not like the long wick/shadow on the upside.
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