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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

  • #44,661
  • Sep 26, 2009 6:44pm Sep 26, 2009 6:44pm
This PB was not an A setup because of the lows right ?
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  • #44,662
  • Edited 9:33pm Sep 26, 2009 8:14pm | Edited 9:33pm
Quoting atton
This PB was not an A setup because of the lows right ?
Hey Atton,

That isn't a pin bar it's an outside bar. An outside bar completely engulfs the previous bar with a close in the top third (bullish) or bottom third (bearish) of the bar.

A pin will have a nose sticking out one side but it won't have any part of it sticking out the other side (in relation to the previous bar).

This bar is after a nice run down creating a swing low, and that's where we look for outside bars. You identified the lows correctly as the first area of trouble and this is where IMO you'd have to go to BE or take profit. I'd also take into consideration where the bar is in the bigger scheme of things. Is it at a daily/weekly PPZ? Is it at a 50-61.8 fib retracement of a clear swing? Is it hitting the 150 or 365 EMA? The more of these factors that line up for us the better. Because bars are only the triggers. What we are really trading is location.

And by the way, you're dead right about the pin on GU. It wasn't a perfect setup by any means for exactly the reason you listed. Small bar, PPZ nearby. We simply can't judge a setup by its results, because plenty of mediocre bars take off, and some A+ setups fail. I wouldn't call GU a slam dunk by any means, but a less than A+ setup which, when played tight (stop quickly to break even) yielded rewards. Don't think of it as an A+ setup because of how far it ran. Not taking it was a very sensible play.
  • #44,663
  • Sep 27, 2009 3:23am Sep 27, 2009 3:23am
hey guys!
im slowly working my way through from page 1.. im a little over 10% .. hopefully one day ill catch up.

i just got back from overseas to find you all added a couple hundred pages

mbqb11- i find it amazing you were involved in the early days and your still here selflessly helping people, even though youve probably answered the same questions hundreds of times.
  • #44,664
  • Sep 27, 2009 4:32am Sep 27, 2009 4:32am
Quoting atton
This PB was not an A setup because of the lows right ?
Hey atton,

Maybe this will help a bit. I also have a question for you on the chart.

Ben
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  • #44,665
  • Sep 27, 2009 4:34am Sep 27, 2009 4:34am
Quoting TiaForex
Hey Atton...
Hi Tia,
yeah it really is an OB it was just too late in the night when I saw it.Excuse me for my mistake.The location was indeed very good but we had about 10 pips free space to the first trouble area which was the lows as we know. So probably I dont have the required experience or skills to trade it correctly but I wouldnt even take it. Thats my opinion.

Good Luck
  • #44,666
  • Sep 27, 2009 4:39am Sep 27, 2009 4:39am
Quoting benji533
Hey atton,

Maybe this will help a bit. I also have a question for you on the chart.

Ben
Hi Ben,
whats up ? I would probably move my stop to BE when the price hits or is near the red line. What did you do in that trade. I am pretty sure you have taken it.
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  • #44,667
  • Sep 27, 2009 4:53am Sep 27, 2009 4:53am
Quote
Hi Ben,
whats up ? I would probably move my stop to BE when the price hits or is near the red line.
Yep, that is how you use your PPZ knowledge
Reversal trades will ALWAYS have a kind off PPZ or traffic in the way, by their nature. But if you are trading off a solid support area, at a swing point, with a great bar, the odds are with you.

Quote
What did you do in that trade. I am pretty sure you have taken it.
Umm...I tend to limit my reversal trades on lower TFs to round numbers. If the round number was a few pips lower, the pips were in my bank...but it doesn't belong to what James16 is teaching...only my personal thing

Ben
  • #44,668
  • Sep 27, 2009 6:30am Sep 27, 2009 6:30am
Please indulge me... (non-trading related)

Please visit this thread
Help needed.
Thank you!
  • #44,669
  • Sep 27, 2009 6:39am Sep 27, 2009 6:39am
Quoting supremeChaos
Please indulge me... (non-trading related)

Please visit this thread
Help needed.
Thank you!
Oh man!

Just please keep hanging to that pole bro, it'll pass....

I will do all the best I can,

and thnx for sharing...

(isn't Phillipenes like way below sea level or something too?)

g.
I believe . . .
  • #44,670
  • Sep 27, 2009 6:52am Sep 27, 2009 6:52am
ghous,
i think some parts are below sea level. some areas are just reclaimed land.
3 storms this month aggravated the situation, by super-saturating the soil (soil has been holding water from the 3 previous storms). add to that the fact that rainfall yesterday was supposed to be the amount of rainfall for the whole month.

Maybe this is Mother Nature's way of awakening many of our People to change their ways.

Thank you & Thank you all.
  • #44,671
  • Sep 27, 2009 7:07am Sep 27, 2009 7:07am
Quoting stoiter
mbqb11- i find it amazing you were involved in the early days and your still here selflessly helping people, even though youve probably answered the same questions hundreds of times.
The real Mike was replaced around page 800 with a robot that has answers to the top 1000 newbie questions
When you have to shoot, shoot. Dont talk.
  • #44,672
  • Sep 27, 2009 7:22am Sep 27, 2009 7:22am
Quoting supremeChaos
Please indulge me... (non-trading related)

Please visit this thread
Help needed.
Thank you!
That's absolutely terrible - I saw it on the news earlier, and the scenes were just incredible.

Donated some money to the Philippine National Red Cross.
When you have to shoot, shoot. Dont talk.
  • #44,673
  • Sep 27, 2009 7:53am Sep 27, 2009 7:53am
Hello,

Did anyone also notice the Pin on NZDJPY (weekly chart)?
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  • #44,674
  • Sep 27, 2009 9:36am Sep 27, 2009 9:36am
guys what do u think of the EUR/USD weekly

if played on the break of 1.46?
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  • #44,675
  • Sep 27, 2009 10:08am Sep 27, 2009 10:08am
Quoting ezz
guys what do u think of the EUR/USD weekly

if played on the break of 1.46?
Hi there ezz.First I wanna say : do not take my opinion too serious .
This weekly PB may make you some pips. But I think we should look for better opportunities called A+ signals. On the E/U chart we have only PB and that is all. We dont have even divergence showing that the trend is weakened. Also the PB's body is too small to provoke big retrace. I personally think that it will retrace to the high if the price breaks the low of the bar but like I said I wouldnt risk my money on this maybe C trade ?
  • #44,676
  • Sep 27, 2009 10:31am Sep 27, 2009 10:31am
Quoting ezz
guys what do u think of the EUR/USD weekly

if played on the break of 1.46?
From my huble point of view it's look like an indecision bar.....and just below the "Pin Bar" you have a strong PPZ,it means your Risk:Reward is less then 1.
For me no....you could wait for a better one.

Hope for Senior to support my answer.
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Patience is essential
  • #44,677
  • Sep 27, 2009 10:38am Sep 27, 2009 10:38am
Quoting b612
Hello,

Did anyone also notice the Pin on NZDJPY (weekly chart)?
Good input you gave me.....just noticed this chart and it looks pretty good....specially i'll wait for the price to form some PA near the 365 EMA ,the deep blue one.
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Patience is essential
  • #44,678
  • Sep 27, 2009 11:07am Sep 27, 2009 11:07am
Thanks Benem for comment. I am new to this forum, so what does PA mean?

I also noticed some PB on Globex (CME), weekly charts. One very nice on CHF, 1 small on EUR. And one kind of DB - OB on Dollar index.
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  • #44,679
  • Sep 27, 2009 11:30am Sep 27, 2009 11:30am
Quoting b612
Thanks Benem for comment. I am new to this forum, so what does PA mean?

I also noticed some PB on Globex (CME), weekly charts. One very nice on CHF, 1 small on EUR. And one kind of DB - OB on Dollar index.
Hallo,PA means price action and in the meaning of this forum is considered as Pin Bar,Bullish outside bar,Bearish outside bar,inside bar and some others tha i don't play.
Anyway i suggest you to read the forum from the beginning and refer to this .pdf
if you have the possibility i suggest you to join James16group for at least few months....it's really change your view.
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File Type: pdf Pin bars-introduction.pdf   175 KB | 675 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 606 downloads
Patience is essential
  • #44,680
  • Sep 27, 2009 12:45pm Sep 27, 2009 12:45pm
Hi, what do people think about this pin (I know it is a day old) but has not been broken yet in my view.

If I were to play this I would enter on abreak above 1.2119 PPZ area...with first target the cluster of bar low and round number PPZ - 1.2200. I would put initial stop at the first eye low and round number of 1.2000.

If I were to play this trade, the new bar open would be 10pm tonight GMT and thus the trade could reach first PPZ area for example when I am asleep. How do others manage trades where the daily bar closes and thus analysis and entry orders can be triggered overnight? I would prefer to watch a trade and thus move stop to b/e at the first real opportunity.
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