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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

  • #48,321
  • Nov 18, 2009 4:00pm Nov 18, 2009 4:00pm
wheat and corn anyone? i am liking wheat alot more. seems to be abit more space. I am going to put a sell stop on wheat below the pin and keep an eye on corn for a move below the daily 365 and weekly 150.

I put all the weekly monthly and daily 365 and 150 onto 1 chart. It is amazing how price reacts around these.

Seems to be the pick at the moment. nothing happening in fx for me right now
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  • #48,322
  • Nov 18, 2009 4:16pm Nov 18, 2009 4:16pm
Quoting dobe_r_man
Not much interests me out there right now to be honest, but for the guys that play daily bars I like the following pair for a short.

Pros
We have a 2-day pin bar (still needs to close of course) that rejected the 50% fib, 1.70 big round number and pivot....
Glad it's not just me then - GBP/CHF seems to be the only action around on the dailys. I've got a BEOB forming on the daily? AUD/USD possibly? but going into a lot traffic I guess + v small pin (from 3 days ago) at a swing high but counter trend.

Thanks

JS
  • #48,323
  • Nov 18, 2009 5:35pm Nov 18, 2009 5:35pm
Quoting g_j_hook@yah
the correct way to trade the IBs technically(i believe) is to trade the break of the preceding bar, i.e. the bar the IB bar is inside,if this makes sense? it is a more aggressive way to trade them by trading the break of the IB itself. and yes u are correct, we want them at swing high and lows as any other PA. But having said that they are my favourite continuation trades and i have read that they statisticaly preform better as a continuation trade??? i have not checked
and yes you have my entry and stop correct short @ 167.40 stop @168.75
jon...
Can anyone clarify this? An inside bar at a swing high is best traded as...

(...a continuation on the upper break of the outer bar?)
  • #48,324
  • Nov 18, 2009 5:41pm Nov 18, 2009 5:41pm
Quoting MattW
Can anyone clarify this? An inside bar at a swing high is best traded as...

(...a continuation on the upper break of the outer bar?)
The traditional J16 way is to trade a break(either one way or both depending on what your play is) of the actual inside bar itself. Some might go a different direction, but as per j16 it is the break of the inside bar itself


Best
Mike
  • #48,325
  • Nov 18, 2009 5:44pm Nov 18, 2009 5:44pm
Thanks Mike
  • #48,326
  • Nov 18, 2009 5:51pm Nov 18, 2009 5:51pm
Quoting Angel65
Bonjour atclarkson,

Your explanation is clear, this is Okay now !!

Merci beaucoup mon ami

Happy trading all

Cheers

Angel


Quite welcome. I'm so happy people have liked my EA, it feels good to be able to give something back to the J16ers
  • #48,327
  • Nov 18, 2009 6:04pm Nov 18, 2009 6:04pm
Quoting supermatt
wheat and corn anyone? i am liking wheat alot more. seems to be abit more space. I am going to put a sell stop on wheat below the pin and keep an eye on corn for a move below the daily 365 and weekly 150.

I put all the weekly monthly and daily 365 and 150 onto 1 chart. It is amazing how price reacts around these.

Seems to be the pick at the moment. nothing happening in fx for me right now
Soybeans might be shaping up for a possible short as well!

The daily chart has some good things going for it, but I am unable to post it for some reason. Do you have a daily of that market that you post?

Beach
  • #48,328
  • Nov 18, 2009 6:40pm Nov 18, 2009 6:40pm
Quoting mbqb11
Be careful here frank this is a super small bar and technically not a pin as it didn't close in the previous bar. You guys make me super nervous trading these small bars on these small timeframes.

If they work for you then I obviously am fine with that, but if you are struggling just become more picky with your bars and that alone will help a ton.

Best
Mike
Mike,

So had the nose been longer and the bar closed above the previous bar my analysis of the confluence factors would be more persuasive? if this goes 10 pips more against me, I'm closing.

As always, thank you in advance!
  • #48,329
  • Nov 18, 2009 6:42pm Nov 18, 2009 6:42pm
Quoting frankm7
Mike,

So had the nose been longer and the bar closed above the previous bar my analysis of the confluence factors would be more persuasive? if this goes 10 pips more against me, I'm closing.

As always, thank you in advance!
Hey Frank

Yes the nose would have had to be a lot longer. Here is what I see.

A very strong bearish day. Towards end of the day people close their shorts, take profit. Smallish pin bar forms b/c of this. There is no actual power to that bar to suggest a move higher. This does not mean we won't move higher. But as a trader I think we need something more to get us in in this instance.

Again these are always just my opinions

Mike
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  • #48,330
  • Nov 18, 2009 7:18pm Nov 18, 2009 7:18pm
It looks like GBPJPY is finally breaking out/down from the triangle it has been in for the past few weeks.
  • #48,331
  • Edited 9:22pm Nov 18, 2009 9:20pm | Edited 9:22pm
Hey guys, just looking through my charts a bit tonight and noticed that there is a potential PB forming on the weekly.

Decent confluence with a 50 fib/touch off of the 61.8 fib as well as sitting on my support level of 8943. The only thing that sort of makes me wonder is the 2 "pin bars"/"doji's" right before that.

Seems the last few weeks have been a retrace from the big upwards move from June to October.

What are all of your thoughts on this?
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  • #48,332
  • Nov 18, 2009 9:34pm Nov 18, 2009 9:34pm
Quoting Concept
Hey guys, just looking through my charts a bit tonight and noticed that there is a potential PB forming on the weekly.

Decent confluence with a 50 fib/touch off of the 61.8 fib as well as sitting on my support level of 8943. The only thing that sort of makes me wonder is the 2 "pin bars"/"doji's" right before that.

Seems the last few weeks have been a retrace from the big upwards move from June to October.

What are all of your thoughts on this?
little early to start looking at weekly PBs.. we still got 2 more days left
  • #48,333
  • Nov 18, 2009 9:38pm Nov 18, 2009 9:38pm
Quote
Hey guys, just looking through my charts a bit tonight and noticed that there is a potential PB forming on the weekly.

Decent confluence with a 50 fib/touch off of the 61.8 fib as well as sitting on my support level of 8943. The only thing that sort of makes me wonder is the 2 "pin bars"/"doji's" right before that.

Seems the last few weeks have been a retrace from the big upwards move from June to October.

What are all of your thoughts on this?

hmm somewhat of a 2 bar reversal pattern on daily...

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skype: ststroud. let's talk trading.
  • #48,334
  • Nov 18, 2009 10:29pm Nov 18, 2009 10:29pm
Quoting dengzhi
little early to start looking at weekly PBs.. we still got 2 more days left
Yeah you are right, that's why I said potential
  • #48,335
  • Nov 19, 2009 2:02am Nov 19, 2009 2:02am
Quoting ghous
Right then, if the big players in the market a.k.a Jarroo and Mike think this is a big moment then it better be! lol.

But I am still intent on seeing the tooth paste get spilled a bit first, it's still in that damn tube.

g.
Time frames are all relative, my friend.
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Indicators show the past. Price Action "Indicates" the future.
  • #48,336
  • Nov 19, 2009 2:28am Nov 19, 2009 2:28am
Quoting g_j_hook@yah
hi Bill, sos for the delay, iwas eating..lol

the problem i have with that bar is its close. it closed well below the close of the previous bar,this is a warning sign i have taken more note of lately,largely thanks to Mike.it does not show the reversal we are looking for. rather it just shows a weak bearish bar or the bearish volatility slowing down. sometimes ,like this one, price will still reverse but it is less certain than a bar which reverses into the previous bars body. as we know the bar highs and lows can become sup or res. so NOT having...
Well said jon. Very good post. (Ditto with Mike)

So what do we do with a very good post? We refer to it often so we don't forget it. So if a PB fails on us, we don't scratch head and wonder why it failed.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #48,337
  • Nov 19, 2009 2:49am Nov 19, 2009 2:49am
Guys any news on G/U and E/U? Why there is sudden down movement?
  • #48,338
  • Nov 19, 2009 3:31am Nov 19, 2009 3:31am
just an update from before on my wheat trade
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  • #48,339
  • Nov 19, 2009 3:49am Nov 19, 2009 3:49am
a wittle bit higher in the next 10 mins and i'm REALLY interested in this
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  • #48,340
  • Nov 19, 2009 4:09am Nov 19, 2009 4:09am
Quoting pipmyride
a wittle bit higher in the next 10 mins and i'm REALLY interested in this
i'm in from the 1h pin with div @ good support but watching for the 4h close...
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