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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

  • #52,001
  • Jan 19, 2010 5:12pm Jan 19, 2010 5:12pm
Quoting PippingMama
Hi Pip,

Looks like 61.8% retracement align with 6400 round number. It will certain be a good area for early entry.

I am thinking if take the break entry for this one, the resistence below is too close and easily get stop out.

I like the location so far and the confluences, bar size and shape. I will take the early entry with 50 pips stop.

PM
If the daily bar finishes below the open would this be considered a A+ trade? I am yet to see an A+ in my short time of j16.
Learning to be rigid in my rules & flexible in my expectations
  • #52,002
  • Jan 19, 2010 5:15pm Jan 19, 2010 5:15pm
Quoting johnbaem
I would like to share these both pairs with my friend. Id staring at UJ and UCAD and ive found the correlation in both... USD is strengthen.

UJ, today bars might end up with BUOB mode (or any other name for bullish mode; wutever). It rest at 61.8 fibo from last low. Target at 93.00 is reasonable.

UCAD, same as well. price seems invalid below 1.0300. Target at 1.0600.

For your consideration and learning ground as well.
Why is that AGAIN.

I wait for UJ to turnaround on my fibs, trendlines and all good staff you can put in advance on your chart.
I saved screen just to post here and show my progress, only to find out that I must have it all wrong.

Would taht be wrong to set short order @ 90.73..?
Isn't there a chance for at least B grade setup to form off my 62% fib and resistance...?
Please...?
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  • #52,003
  • Edited Jan 20, 2010 3:56am Jan 19, 2010 5:18pm | Edited Jan 20, 2010 3:56am
Inside Candle at Support
Back to the beginning ... demo
  • #52,004
  • Jan 19, 2010 5:23pm Jan 19, 2010 5:23pm
Hey I see everyone hide the number order (ex: xxxxxxx sell) when they post, what is the purpose for?
Back to the beginning ... demo
  • #52,005
  • Jan 19, 2010 5:41pm Jan 19, 2010 5:41pm
Quoting goldtrader
Hey I see everyone hide the number order (ex: xxxxxxx sell) when they post, what is the purpose for?
Maybe for safety reasons, if You take trading as a business than less other people know about your money no one is going to steal them.
  • #52,006
  • Jan 19, 2010 5:44pm Jan 19, 2010 5:44pm
Quoting jarroo
Anyone eyeing the Weekly Usd/Chf PB ?

A+? Probably not. Lets see how it breaks. (if she breaks)

Anyone in on this Usd/Chf Weekly PB? Nice hard Break above the 1.0300. (James16: "This is Critical") . Nothing on the Lower time frames showed me anything great prior to the break. Blue areas are my targets.

PA Rules!
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Indicators show the past. Price Action "Indicates" the future.
  • #52,007
  • Jan 19, 2010 5:47pm Jan 19, 2010 5:47pm
Quoting jarroo
Anyone in on this Usd/Chf Weekly PB? Nice hard Break above the 1.0300. (James16: "This is Critical") . Nothing on the on the Lower time frames showed me anything great prior to the break. Blue areas are my targets.

PA Rules!
Yes sir! 1 hour pin bar and then 4 hour pin bars, last night, led the way for it.
I dream, therefore I become.
  • #52,008
  • Jan 19, 2010 6:00pm Jan 19, 2010 6:00pm
Quoting jarroo
Anyone in on this Usd/Chf Weekly PB? Nice hard Break above the 1.0300. (James16: "This is Critical") . Nothing on the Lower time frames showed me anything great prior to the break. Blue areas are my targets.

PA Rules!
I'm also in that trade.

I already have a couple of losses this month. Lets see if this one works out.
  • #52,009
  • Jan 19, 2010 6:01pm Jan 19, 2010 6:01pm
Quoting mike w
Yes sir! 1 hour pin bar and then 4 hour pin bars, last night, led the way for it.
Yeah, I saw thoses, they did really standout to me quality wise. But they did provide some small risk entries, which I know you like.

Man, I thought you caught Dale's Double IB on the G/U.

Quoting mike w

Another note that I've seen on particular bank holidays is that the converging currency usually dictates the move for the day, which it really hasn't been able to (Gbp). IMO, that proves that this area of resistance is solid enough for a move downwards (or upwards if the resistance breaks topside) once momentum picks up from the unwinding of consolidation.
Dale's Double can go either way, brother.

Also I like this line from your post "once momentum picks up from the unwinding of consolidation". . . .Wow, that is trading poetry Mike. Love it.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #52,010
  • Jan 19, 2010 6:07pm Jan 19, 2010 6:07pm
Quoting NosferatuMan
I'm also in that trade.

I already have a couple of losses this month. Lets see if this one works out.

It has worked out, NosferatuMan.

You can be at break even now or taken some off the table and adjust your stop loss to minimize or eliminate your potential loss. I prefer the latter.
Indicators show the past. Price Action "Indicates" the future.
  • #52,011
  • Jan 19, 2010 6:09pm Jan 19, 2010 6:09pm
4hr inside bars on the GBPUSD again tonight.... with the daily pin, i'm thinking.... down? Either way is good w/ me, so long as the euro continues weak as well
Many choose unhappiness over uncertainty.
  • #52,012
  • Jan 19, 2010 6:09pm Jan 19, 2010 6:09pm
Hi jaroo - your take on daily GU please
  • #52,013
  • Jan 19, 2010 6:17pm Jan 19, 2010 6:17pm
Quoting Dan Gilbert
4hr inside bars on the GBPUSD again tonight.... with the daily pin, i'm thinking.... down? Either way is good w/ me, so long as the euro continues weak as well

Forget the Euro, your trading the GBPUSD. Don't look at other pairs to correlate or whatever it just causes confusion. (imo) What does KissFan say again . . oh yeah . . . K.I.S.S.

Double Inside Bar is looking real good. Yes, play it either way. Dale would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #52,014
  • Jan 19, 2010 6:22pm Jan 19, 2010 6:22pm
Quoting pipmyride
Hi jaroo - your take on daily GU please
The PB on the Daily GU is viable, pmr. Size looks good, location with confluences look good. The traffic . . .bad . . a bit messy. Hard break, tight management required.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,015
  • Jan 19, 2010 6:22pm Jan 19, 2010 6:22pm
Quoting jarroo
It has worked out, NosferatuMan.

You can be at break even now or taken some off the table and adjust your stop loss to minimize or eliminate your potential loss. I prefer the latter.
That is a fact, but for now I'm leaving this one as initially because it is weekly based (I hope this makes sense).

By the way, could you please give me your thoughts regarding this pin:

It doesn't look bad but it is against a major trend and current weakness of Euro.
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  • #52,016
  • Jan 19, 2010 6:26pm Jan 19, 2010 6:26pm
Quoting jarroo
Forget the Euro, your trading the GBPUSD. Don't look at other pairs to correlate or whatever it just causes confusion. (imo) What does KissFan say again . . oh yeah . . . K.I.S.S.

Double Inside Bar is looking real good. Yes, play it either way. Dale would be proud.
Ok Jarroo, I read a post from the past in this thread (searched it). would this be the correct way to number the inside bars? Each consecutive bar here is smaller than the last, or is the #3 and #4 bars the only ones I should be looking at for a break?
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Many choose unhappiness over uncertainty.
  • #52,017
  • Jan 19, 2010 6:36pm Jan 19, 2010 6:36pm
Quoting NosferatuMan
That is a fact, but for now I'm leaving this one as initially because it is weekly based (I hope this makes sense).

By the way, could you please give me your thoughts regarding this pin:

It doesn't look bad but it is against a major trend and current weakness of Euro.
Looks great. Break would be above the 1.9500, nice.

One big concern is the size is pretty small, but not bad. A hard break and tight stop under the 1.9500 would be how I'd play it.
Indicators show the past. Price Action "Indicates" the future.
  • #52,018
  • Jan 19, 2010 6:42pm Jan 19, 2010 6:42pm
Quoting jarroo



Dale's Double can go either way, brother.

Also I like this line from your post "once momentum picks up from the unwinding of consolidation". . . .Wow, that is trading poetry Mike. Love it.


Jim
Believe me my man, I know! I let a bias get in the way of a good trade, there's not much more to it than that - me being a bum! lol I saw the solid resistance and let that get in my head for a short opportunity. I see now that we have a bearish pin bar on the G/U daily, but being right in my thoughts doesn't equate to being in the black in my trades.

On another note, we couldn't have asked for a better setup on the usd/chf.

BTW, I've seen quite a bit of poetry in your posts too brother! We should write a book and title it "J&M's quirky trading quotes"..or something equally as cheesy.
I dream, therefore I become.
  • #52,019
  • Jan 19, 2010 6:49pm Jan 19, 2010 6:49pm
Hi Jaroo, Mike W

You've just been discussing the USD/CHF Trade, I'm fairly new here but I tried to take this trade as J16 orthodox as possible. It was a Pending Order (demo) so 10pips above the pin. I set my Demo A/c at $1,500, and wanted to max risk per trade at 2%. I put on 3 micro lots, so SL:100p(but adjusted to FIB line 61.8 110p). Is this an appropriate SL - or any thoughts or suggestions.

Enter LONG: 1.0297 SL: (61.8Fib of bar) 1.0190 TP1 1.0338 TP2 1.0420 TP3 1.0490

The Risk* is 2.14 % Risk Ratio is 1.11
*based on 1p=$0.1

Thank you
  • #52,020
  • Edited 7:21pm Jan 19, 2010 6:49pm | Edited 7:21pm
Quoting Dan Gilbert
Ok Jarroo, I read a post from the past in this thread (searched it). would this be the correct way to number the inside bars? Each consecutive bar here is smaller than the last, or is the #3 and #4 bars the only ones I should be looking at for a break?

Yes, the I4B is one of J16's PA formations. It looks like that it could be an I7B if you go back even more bars. They could break either way.

Dale's Double Inside Bar is also in play here (in blue). Check some his posts on these. They can provide some great moves.
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Indicators show the past. Price Action "Indicates" the future.
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