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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

  • #52,061
  • Jan 19, 2010 8:42pm Jan 19, 2010 8:42pm
Quoting Dan Gilbert
12/29/08, daily pin in same PPZ area, successful, and 2/12/2009 there is ALMOST a BUOB that also would have been extremely successful after the initial break of the PPZ (looks extremely "deja-vu-ish" to the close of yesterday's BUOB... (I mean the break, retracement back to that PPZ, and PA for a long position)

also the size of the bar is pretty strong in my opinion....

That's good Dan, history does repeat itself at good levels. So it's always good to look back in time.

The more current PPZ levels, 91.00 PPZ, looks like it can support that good size BUOB.

I would like it was closer to 90.00 level. (I'm sure Mike would too). Meaning that Price my want to draw back to the 90.00 just to test it again. It's not a bad setup, it has good potential.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,062
  • Jan 19, 2010 8:43pm Jan 19, 2010 8:43pm
Quoting jarroo
That's good Dan, history does repeat itself at good levels. So it's always good to look back in time.

The more current PPZ levels, 91.00 PPZ, looks like it can support that good size BUOB.

I would like it was closer to 90.00 level. (I'm sure Mike would too). Meaning that Price my want to draw back to the 90.00 just to test it again. It's not a bad setup, it has good potential.
  • #52,063
  • Jan 19, 2010 8:44pm Jan 19, 2010 8:44pm
Quoting raczekfx
Missed your posts, Jim.
Glad to see/hear you back
Thanks brother. Great to be back.

I'm catching up on your posts. Great stuff as always my friend.

I'm always learning and improving.
Indicators show the past. Price Action "Indicates" the future.
  • #52,064
  • Jan 19, 2010 8:46pm Jan 19, 2010 8:46pm
Quoting mbqb11

Indicators show the past. Price Action "Indicates" the future.
  • #52,065
  • Jan 19, 2010 9:28pm Jan 19, 2010 9:28pm
Quoting Glenborrell
Squeezy, yeah i have been watching this one too. The thing i like about it is the fact that the eyes are practically at identical levels. Might be a good sign of a rejection of price to the south.

good to always wait for the break, order removed ...lol

just woke up and had to read about 5 pages ........ I see someone has been busy

the hard break/ momentum man is here to stay
Simplicity is the key to success
  • #52,066
  • Jan 19, 2010 9:40pm Jan 19, 2010 9:40pm
Quoting Pip Pride
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

[font=Calibri]The Risk* is 2.14 % Risk Ratio...
Sorry Pip Pride. I missed this one.

Ideally you want your stop loss just under/above the PA formation. So its not just a 100 pips its what ever the pip amount under/above the PA formation and then you adjust your position size accordingly.

Also the buffer is not set in stone you have to be aware of what your trading into.

Check this great post from James16 "This is Critical". It has helped my trading greatly, to put it mindly.

http://www.forexfactory.com/showpost...ostcount=15568
Indicators show the past. Price Action "Indicates" the future.
  • #52,067
  • Jan 19, 2010 10:02pm Jan 19, 2010 10:02pm
Quoting goldtrader
Inside Candle at Res, is that theory can be trade?
The most important thing that you should look at beside bar shape is IMO S/R, and inside bars are a valid clue of consolidation happening, daily inside bars tend to show a compressed view of a triangle/pennant in the lower TFs.

I know a guy who only trade off inside bars, he's called razor_trader, it has something to do about R/R ratio and looking for long tails, his win rate isn't too good, but once he gets a run, he gets really big reward to risk ratio on that trade, it simply wipes out all his losses, I believe the DIBS method is also a method that is uses this concept, but I don't really trade inside bars that much so I don't really know...

welcome to our friendly thread
  • #52,068
  • Jan 19, 2010 10:23pm Jan 19, 2010 10:23pm



Quoting jarroo
Sorry Pip Pride. I missed this one.

Ideally you want your stop loss just under/above the PA formation. So its not just a 100 pips its what ever the pip amount under/above the PA formation and then you adjust your position size accordingly.

Also the buffer is not set in stone you have to be aware of what your trading into.

Check this great post from James16 "This is Critical". It has helped my trading greatly, to put it mindly.

http://www.forexfactory.com/showpost...ostcount=15568
  • #52,069
  • Jan 19, 2010 10:33pm Jan 19, 2010 10:33pm
Quoting ghous
Hmm...

Au 2day's worth a look, no?

g.
Common now gimme a close below 9200...

PS: Got to be a great day ahead...early morning got to see James on line.

g.
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I believe . . .
  • #52,070
  • Jan 19, 2010 10:40pm Jan 19, 2010 10:40pm
Quoting james16
Hey, what's up big guy.

Right back at you brother.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #52,071
  • Jan 19, 2010 10:45pm Jan 19, 2010 10:45pm
Quoting ghous
Common now gimme a close below 9200...

PS: Got to be a great day ahead...early morning got to see James on line.

g.
Nice one ghous. That .9200 was a stubborn SOB. Looks like it could act now as Resistance. Nice.
Indicators show the past. Price Action "Indicates" the future.
  • #52,072
  • Jan 19, 2010 10:52pm Jan 19, 2010 10:52pm
Quoting jarroo
Nice one ghous. That .9200 was a stubborn SOB. Looks like it could act now as Resistance. Nice.
Back at you mate for that usd/chf "jarroo break" pin bar

g.
I believe . . .
  • #52,073
  • Jan 19, 2010 11:00pm Jan 19, 2010 11:00pm
Quoting ghous
Back at you mate for that usd/chf "jarroo break" pin bar

g.
Yeah I was surprised, especially so early in the session. (or in the asian sesssion).
Indicators show the past. Price Action "Indicates" the future.
  • #52,074
  • Jan 19, 2010 11:14pm Jan 19, 2010 11:14pm
Quoting Dan Gilbert
I see that one too.... I like it.... good PPZ and strong BUOB, i'm watching USDJPY right now pretty closely
Hello Dan,

For the USDJPY, I was thinking it is good but after careful analysis I decide to remove my buy order. The reason is I find the break of the USDJPY requires to break a weekly ppz. but the BUOB is sitting on just a daily ppz.

I was waiting for price to reach 90 level before reverse but price did not reach it before showing us the sign of reverse.

I have so much doubt so I decide to remove my buy order.

It might still work but I would rather look for the trade I am be more confident with.

PM
  • #52,075
  • Jan 19, 2010 11:44pm Jan 19, 2010 11:44pm
Hopefully GU can stay below 6300 now its broken.
Learning to be rigid in my rules & flexible in my expectations
  • #52,076
  • Jan 19, 2010 11:45pm Jan 19, 2010 11:45pm
Mike
r u watching the 1hr yen pairs, seem interesting ......
showing a couple of breakout scenarios
some had fake-outs already
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Simplicity is the key to success
  • #52,077
  • Jan 19, 2010 11:53pm Jan 19, 2010 11:53pm
Quoting Treefingers
Hopefully GU can stay below 6300 now its broken.
Ride that baby. lol

Good place to hide the stops (6300) if it does. 1st Target in blue.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,078
  • Jan 19, 2010 11:54pm Jan 19, 2010 11:54pm
Quoting PippingMama
Hello Dan,

For the USDJPY, I was thinking it is good but after careful analysis I decide to remove my buy order. The reason is I find the break of the USDJPY requires to break a weekly ppz. but the BUOB is sitting on just a daily ppz.

I was waiting for price to reach 90 level before reverse but price did not reach it before showing us the sign of reverse.

I have so much doubt so I decide to remove my buy order.

It might still work but I would rather look for the trade I am be more confident with.

PM
I agree PM,

I would also have liked the buob further down near the 50 fib ppz for instance...

g.
Attached Image
I believe . . .
  • #52,079
  • Jan 19, 2010 11:55pm Jan 19, 2010 11:55pm
Quoting jarroo
Ride that baby. lol

Good place to hide the stops (6300) if it does. 1st Target in blue.
Gee,

you guys had it better looking than I have it on my feed...

Wait till It's my turn to tease you.



g.
I believe . . .
  • #52,080
  • Jan 19, 2010 11:56pm Jan 19, 2010 11:56pm
Quoting jarroo
Ride that baby. lol

Good place to hide the stops (6300) if it does. 1st Target in blue.
So you would move you stop around 6310 when it hits 6250ish?
Learning to be rigid in my rules & flexible in my expectations
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