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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

  • #40,961
  • Aug 14, 2009 1:56am Aug 14, 2009 1:56am
Quoting bundyraider
Seriously, when a good one comes along you'll know and say to youself:- "DAMN, I shouldn't have traded last week at all. All those crappy charts and I thought I was just crap at this! Look at how easy the good ones are when they finally come along! It's obvious where to get in , where to get out, where to put my stop. Derrrr!"
Great post Bundy.

Man, have I said that before. lol
Indicators show the past. Price Action "Indicates" the future.
  • #40,962
  • Aug 14, 2009 2:44am Aug 14, 2009 2:44am
Nice setup on H4 GBPUSD although it took a while to play out. Also might the strictest rules suggest that the bar after the PB only broke by about 6 pips so might not have been enough to trigger a short and then when the break occured, there were too many in between bars?

I actually took the short based off H1 and then had to wait a while.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD1.JPG Size: 107 KB
Click to Enlarge Name: GBPUSD.JPG Size: 107 KB
  • #40,963
  • Edited 3:15am Aug 14, 2009 3:03am | Edited 3:15am
What do you guys think of this?

Comments please. Kinda new to this, might be missing out on some stuff.

I know there's a nice bullish pin in the daily, so I'm betting on a smaller move in 4hr to just 1 PPZ. Not gunning for a home run.

Ok. I'm abit confused right now.

Daily: Bullish Pin
4hour: Bearish Pin
1hour: Bullish Pin after 4hour bearish pin.

AUDUSD 4hour Pinbar off PPZ.
Target PPZ @ the bottom + wPivot
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD; 4hour; 14Aug09.gif Size: 19 KB
Click to Enlarge Name: AUDUSD; 1hour; 14Aug09.gif Size: 10 KB
Attached Image
One Mind, Any Market
  • #40,964
  • Aug 14, 2009 3:12am Aug 14, 2009 3:12am
there looks like there is a fair bit of market indecision up there. wouldn't be so sure of anything i don't think
  • #40,965
  • Aug 14, 2009 3:24am Aug 14, 2009 3:24am
Quoting Cyrus
What do you guys think of this?

Comments please. Kinda new to this, might be missing out on some stuff.

I know there's a nice bullish pin in the daily, so I'm betting on a smaller move in 4hr to just 1 PPZ. Not gunning for a home run.

Ok. I'm abit confused right now.

Daily: Bullish Pin
4hour: Bearish Pin
1hour: Bullish Pin after 4hour bearish pin.

AUDUSD 4hour Pinbar off PPZ.
Target PPZ @ the bottom + wPivot
Size looks Ok. Off recent Highs, good. But the traffic is like 5:00 PM on a Friday at the start of the Labor Day weekend. Its just too much. We need space to the left of our setup to give it room to run. If only for a short distance.
Attached Image (click to enlarge)
Click to Enlarge Name: au4.gif Size: 23 KB
Indicators show the past. Price Action "Indicates" the future.
  • #40,966
  • Aug 14, 2009 3:31am Aug 14, 2009 3:31am
Quoting jarroo
Size looks Ok. Off recent Highs, good. But the traffic is like 5:00 PM on a Friday at the start of the Labor Day weekend. Its just too much. We need space to the left of our setup to give it room to run. If only for a short distance.
Here's the 4 hour Eur/Jpy from a few posts ago, upside down and inverted. This is the open space and confluences we're looking for at a swing High.

http://www.forexfactory.com/showpost...ostcount=40961
Attached Image (click to enlarge)
Click to Enlarge Name: ej4.gif Size: 27 KB
Indicators show the past. Price Action "Indicates" the future.
  • #40,967
  • Aug 14, 2009 3:56am Aug 14, 2009 3:56am
Quoting jarroo
Here's the 4 hour Eur/Jpy from a few posts ago, upside down and inverted. This is the open space and confluences we're looking for at a swing High.

http://www.forexfactory.com/showpost...ostcount=40961
Ahh... I see yet more light.

Was aiming to enter on limits @ 50% of the pinbar, to create some space.
Suppose there's little point doing that if it's not an A grade trade.

Thanks again Jarroo =)
One Mind, Any Market
  • #40,968
  • Aug 14, 2009 4:06am Aug 14, 2009 4:06am
Quoting Cyrus
Ahh... I see yet more light.

Was aiming to enter on limits @ 50% of the pinbar, to create some space.
Suppose there's little point doing that if it's not an A grade trade.

Thanks again Jarroo =)
Yes. The A trades can give more opportunities for entry, especially after the break. Be it aggressive or conservative entries, A trades make it easy to skin a cat.

The true A+ trades usually break hard and run to the moon. imo
Indicators show the past. Price Action "Indicates" the future.
  • #40,969
  • Aug 14, 2009 4:07am Aug 14, 2009 4:07am
Hi all!
Need your opinions

Long 1.6580
TP1: 1.6700

Pro:
EMA 150
Fib 23%
PinBar
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusb_h4.gif Size: 18 KB
  • #40,970
  • Aug 14, 2009 4:12am Aug 14, 2009 4:12am
hi cyrus

i agree with jaroo in regards to there not being that much space in this setup as shown clearly in his chart. also not much confluence.

also i would recommend that it is easier to base your analysis of one time frame.

i have been using the j16 material for ove 6 mths now and have found it easier to just trade what i see on one time frame and manage the trade on that time frame.

just my view.
  • #40,971
  • Aug 14, 2009 4:20am Aug 14, 2009 4:20am
Quoting faizal82
hi cyrus

i agree with jaroo in regards to there not being that much space in this setup as shown clearly in his chart. also not much confluence.

also i would recommend that it is easier to base your analysis of one time frame.

i have been using the j16 material for ove 6 mths now and have found it easier to just trade what i see on one time frame and manage the trade on that time frame.

just my view.

Its a good point faizal, sticking to the time frame your trading. But it is important to know where higher time frame PPZ levels are located and also if a higher time frame PA is in agreement with your current time frame.

Meaning, you don't want to trade a 4 hour Bullish PB into a Weekly BEOB, unless you realize that the 4 hour PB Bullish maybe short lived.
Indicators show the past. Price Action "Indicates" the future.
  • #40,972
  • Aug 14, 2009 4:21am Aug 14, 2009 4:21am
hi jdl

this did not close as a pin on my ibfx feed.

even if it did i would pass because of the immediate trouble zone / bar highs.

Also 23.6 fib not the best fib number to use as confluence. i prefer the 50 and 61.8.

just my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 16 KB
  • #40,973
  • Aug 14, 2009 4:36am Aug 14, 2009 4:36am
Quoting Jdl500
Hi all!
Need your opinions

Long 1.6580
TP1: 1.6700

Pro:
EMA 150
Fib 23%
PinBar
I agree with faizel, not a big fan of the Fib 23%.

The size looks good.
I like the confluence of the 150 ema and 1.6550 PPZ level.
Not at a swing low.
1.6700 TP1 is a bit aggressive, I like the 1.6650.
Break of the 1.6600, instead of the PB itself. (refer to James16's "This is Critical")

It has pontential, but I would pass because there are better setups just around the corner.
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 25 KB
Indicators show the past. Price Action "Indicates" the future.
  • #40,974
  • Aug 14, 2009 4:48am Aug 14, 2009 4:48am
Great posts guys,

Jarroo, Dale and Bundy,

I had been falling into the trap at looking for PA and then curve fitting my levels to convince my self that the trade was a goer.

I think this is driven by the amount of pairs I am trying to trade, all the crosses etc.

I am leaning towards just trading the majors. Marking up the levels of confluence on weekly daily then setting alerts. That way I can even look for entries in the 4 hr, when they come rather than checking 30 charts every 4 hours.

Mark
I hear and I forget. I see and I remember. I do and I understand.
  • #40,975
  • Aug 14, 2009 4:49am Aug 14, 2009 4:49am
thanks faizal82 and jarroo!
will wait for better opportunity.
  • #40,976
  • Aug 14, 2009 4:52am Aug 14, 2009 4:52am
Quoting tac
Great posts guys,

Jarroo, Dale and Bundy,

I had been falling into the trap at looking for PA and then curve fitting my levels to convince my self that the trade was a goer.

I think this is driven by the amount of pairs I am trying to trade, all the crosses etc.

I am leaning towards just trading the majors. Marking up the levels of confluence on weekly daily then setting alerts. That way I can even look for entries in the 4 hr, when they come rather than checking 30 charts every 4 hours.

Mark
Smart plan. You can always move up to more charts when you see fit and comfortable to do so.
Indicators show the past. Price Action "Indicates" the future.
  • #40,977
  • Aug 14, 2009 4:54am Aug 14, 2009 4:54am
Quoting Jdl500
thanks faizal82 and jarroo!
will wait for better opportunity.
Should be a fun one to watch or demo Jdl.
Indicators show the past. Price Action "Indicates" the future.
  • #40,978
  • Aug 14, 2009 5:07am Aug 14, 2009 5:07am
Hi Jarroo... how many pairs do you look at ??
  • #40,979
  • Aug 14, 2009 5:08am Aug 14, 2009 5:08am
Quoting jarroo
Here's the 4 hour Eur/Jpy from a few posts ago, upside down and inverted. This is the open space and confluences we're looking for at a swing High.

http://www.forexfactory.com/showpost...ostcount=40961

Did not get that one on my feed. But from the picture I can see:
1. with the trend.
2. Ton of space.
3. long nose sticking out above the resistance area.

Good job jarroo

Ben
  • #40,980
  • Aug 14, 2009 5:11am Aug 14, 2009 5:11am
Quoting salisa
Hi Jarroo... how many pairs do you look at ??
18 to 20 pairs. I'm also starting to look at trading Silver and Gold.
Indicators show the past. Price Action "Indicates" the future.
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