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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

  • #54,681
  • Feb 11, 2010 5:22am Feb 11, 2010 5:22am
Here's one now...
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  • #54,682
  • Feb 11, 2010 5:29am Feb 11, 2010 5:29am
Quote
Very nice Dale.

Peter Crowns would be proud.


Jim



I owe my thanks to you Jim for starting the thread.

Hats off to you.


Dale
  • #54,683
  • Feb 11, 2010 5:31am Feb 11, 2010 5:31am
Could anyone help me please? Is the pinbar at the bottom of the screen valid? It is at swing low, it has long nose, but it is not protruding much, it's above BRN 225, but below MA(365), with the long term trend also. Could anyone tell me something about it? Was it playable for you? For me it was on backtesting, but this not protruding nose made me very conservative. Thanks in advance!
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  • #54,684
  • Feb 11, 2010 5:32am Feb 11, 2010 5:32am
Quoting hehesam
1st post for this thread. Btw, Still a newbie. 2 PB forming in h1 timeframe, price rejection 0.7000.
SL above the last h4 candle. Take profit at 0.6970 for 1st position, and BE for 2nd position.
Welcome for all comment.

Nicely done hehesam, gotta love that break.

I like your style, trade management wise.
Indicators show the past. Price Action "Indicates" the future.
  • #54,685
  • Feb 11, 2010 5:33am Feb 11, 2010 5:33am
hey jaroo you never stop amazing me with the simplicity of your charts you know when I first came in this thread, with your charts I was in love the most, and I even had your template on my charts,you can check it looking back to my first posts.

here is my take on eurgbp mentioned here yesterday,I didn't take it,I'm currently managing others positions ,althought I planned to enter on 8835, had that line on my chart after the break that she made back last weeks ago and I expected price to pullback to it,

For me this would had been a very profitable touch trade, with only 6 pips drawdown,

we have confluence 50-61.8, old support now becoming new resistance
know the only other ingredient what miss is some PA,hope that the daily chart or even 4h chart will show up some PA

look on the weekly chart, from where 8835 comes

could this be more easier?

just open wide your eyes, you will se tremendous results

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  • #54,686
  • Feb 11, 2010 5:33am Feb 11, 2010 5:33am
Quoting Razor_trader
He dropped by at the DIBs thread a few months back to see how things were going...Beside if he was to start posting again it would probably be a bit of the old overdone questions that tired him before.
i think i remember that post from him..

several early FF members have come out of their lurking caves & have started posting again, last year (Sir smjones etc). several early FF members are still active until now..... am just interested to see Peter Crowns mingle with newer traders/FF members with a few posts here & there.
to me at least, these people (many to mention) inspire me.
  • #54,687
  • Feb 11, 2010 5:34am Feb 11, 2010 5:34am
Quoting Dale
I owe my thanks to you Jim for starting the thread.

Hats off to you.


Dale
Thanks Dale.

The Dale's Double have been very very good to me.


Cheers brother.
Indicators show the past. Price Action "Indicates" the future.
  • #54,688
  • Feb 11, 2010 5:37am Feb 11, 2010 5:37am
Quoting Dale
This is another proven Dibs concept and a key one. If I am looking for an inside bar entry on the one hour time frame I will certainly use this approach.

It is my opinion that dibs was not intended to be a purely mechanical system that is traded blindly, Just my opinion.

If you use confluence which is demonstrated here, you may at times be able to add "up-on-the-day" and "up-on-the-week" to improve your results.

Good trading

Dale
Thanks Dale (and Razor! )
  • #54,689
  • Feb 11, 2010 5:41am Feb 11, 2010 5:41am
Quoting hehesam
1st post for this thread. Btw, Still a newbie. 2 PB forming in h1 timeframe, price rejection 0.7000. ....
nice 1st post, hehesam!
applying james16 & Ryanmcd methods together, huh?

Welcome in behalf of all.. Keep posting
  • #54,690
  • Feb 11, 2010 5:44am Feb 11, 2010 5:44am
Quoting triger88990
hey jaroo you never stop amazing me with the simplicity of your charts you know when I first came in this thread, with your charts I was in love the most, and I even had your template on my charts,you can check it looking back to my first posts.

here is my take on eurgbp mentioned here yesterday,I didn't take it,I'm currently managing others positions ,althought I planned to enter on 8835, had that line on my chart after the break that she made back last weeks ago and I expected price to pullback to it,

For me this would had been a very profitable...

I learned from the master which your template looks like now. lol

That .8535 looks right on the dot.

Waiting for some solid PA at this level should be fun.

For some reason I think this baby is going to continue to go up. ( there I go thinking again. )
Indicators show the past. Price Action "Indicates" the future.
  • #54,691
  • Feb 11, 2010 5:57am Feb 11, 2010 5:57am
I dont do touch trades (well not on live account anyway) as focussing on taking high probability trades on daily and intra-day when time allows.

Pin bar with divergence @ a PPZ area...was looking for a quick fast break so can move stop to BE and I've got it.
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  • #54,692
  • Feb 11, 2010 5:58am Feb 11, 2010 5:58am
Quoting lovejoy80
I dont do touch trades (well not on live account anyway) as focussing on taking high probability trades on daily and intra-day when time allows.

Pin bar with divergence @ a PPZ area...was looking for a quick fast break so can move stop to BE and I've got it.
As the Rac-man would say . . . .KABOOM.
Indicators show the past. Price Action "Indicates" the future.
  • #54,693
  • Feb 11, 2010 6:01am Feb 11, 2010 6:01am
On my feed I'm seeing a nice BEOB. It's at a swing high, off a PPZ and that Fib so a further move south looks likely huh?
  • #54,694
  • Feb 11, 2010 6:08am Feb 11, 2010 6:08am
FX Pro seems like a great broker for this method, it has FX, Stocks, Futures, Indexes all to trade from. Who needs to go below daily, there should be a few decent trades every week with that lot!.

This however requires me to be a bit more agile with my TA, rather than going through all the charts and marking up the TA, I will be looking at each daily chart (at end of day) and weekly chart (at end of week). Looking at the bar and if its got PA then look for PPZ, Fibs etc.

Anyone see a problem doing it this way?

Chatzi
  • #54,695
  • Feb 11, 2010 6:12am Feb 11, 2010 6:12am
Quoting chatzi
FX Pro seems like a great broker for this method, it has FX, Stocks, Futures, Indexes all to trade from. Who needs to go below daily, there should be a few decent trades every week with that lot!.

This however requires me to be a bit more agile with my TA, rather than going through all the charts and marking up the TA, I will be looking at each daily chart (at end of day) and weekly chart (at end of week). Looking at the bar and if its got PA then look for PPZ, Fibs etc.

Anyone see a problem doing it this way?

Chatzi
That's how its done, friend.

But I would put the PPZ levels, fibs . . .confluences there first . . . then look for some solid PA.
Indicators show the past. Price Action "Indicates" the future.
  • #54,696
  • Feb 11, 2010 6:25am Feb 11, 2010 6:25am
Quoting chatzi
FX Pro seems like a great broker for this method, it has FX, Stocks, Futures, Indexes all to trade from. Who needs to go below daily, there should be a few decent trades every week with that lot!.

This however requires me to be a bit more agile with my TA, rather than going through all the charts and marking up the TA, I will be looking at each daily chart (at end of day) and weekly chart (at end of week). Looking at the bar and if its got PA then look for PPZ, Fibs etc.

Anyone see a problem doing it this way?

Chatzi
Personally I think it's better to mark PPZ, Fibs etc on the chart and then wait for PA at these areas, that way it stops you getting into trades just because there is some PA i.e. you are only interested in your charts when price approaches a marked area then it's a case of just waiting for some PA to form.

I find that easier and stops you 'looking' for PPZ etc. to fit your PA...which is a common beginner mistake as they get excited that they have some PA and therefore look for a reason to trade.
  • #54,697
  • Feb 11, 2010 6:38am Feb 11, 2010 6:38am
Quoting lovejoy80
Personally I think it's better to mark PPZ, Fibs etc on the chart and then wait for PA at these areas, that way it stops you getting into trades just because there is some PA i.e. you are only interested in your charts when price approaches a marked area then it's a case of just waiting for some PA to form.

I find that easier and stops you 'looking' for PPZ etc. to fit your PA...which is a common beginner mistake as they get excited that they have some PA and therefore look for a reason to trade.
I agree with this completely lovejoy but there is an extra thing I have noticed based on my own experience.

Sometimes when I have a key level marked on my charts and I am looking for PA, I get very tempted to take the mediocre PA that shows up at that point because I am already primed and looking.

If our areas are correct then there will almost certainly be some kind of reaction there. Price will rarely smash straight though. So what we need to establish is whether the PA we see is a 'pause bar' or a 'reversal bar'. I've been burnt so many times from taking less than stellar PA at an area I've been stalking. Size of the bar can be a great indicator of strength.

As an example there was a very tempting 1H pinbar off the 7000 level on NU this morning (UK time) but it just wasn't big enough. As you can see it chopped around and retraced deeply into the bar, gave a move, came back. Who knows whether it'll pay off or not, but the big bars often have the momentum to run and keep running. The smaller PA bars are often initial pauses before some chop around our area (if we've picked it correctly)

I do mark areas on all charts, especially the big round numbers, but I always make a mental note to not just take any pinbar at those levels.
  • #54,698
  • Feb 11, 2010 6:48am Feb 11, 2010 6:48am
HI

i for myself as a J16 student plot the Major PPZ's from Daily and Weekly TFs
on just that TF's ..

i use a point and figure chart to spot Major PPZ's and if the area .. is something
like that 1,2345 i just round it up or down to the next Round number..

and if i see a PA form at those areas .. i start to plot the minor PPZ's ie. first trouble zones .. S/R ...

i must say its really cool to see price stalls or reverses ie. gets in trouble at that pre plotted areas .. so cool..

cheerz
  • #54,699
  • Feb 11, 2010 6:55am Feb 11, 2010 6:55am
Will test this later....work is boring (as always) so am hitting the road home........skiving hehehehehehe


Quoting jarroo
You can use this on mt4. Let me know if you need some help.

http://www.forexfactory.com/showpost...ostcount=15191

http://www.forexfactory.com/showpost...ostcount=15193
  • #54,700
  • Feb 11, 2010 7:06am Feb 11, 2010 7:06am
Quoting TiaForex
I agree with this completely lovejoy but there is an extra thing I have noticed based on my own experience.

Sometimes when I have a key level marked on my charts and I am looking for PA, I get very tempted to take the mediocre PA that shows up at that point because I am already primed and looking.

If our areas are correct then there will almost certainly be some kind of reaction there. Price will rarely smash straight though. So what we need to establish is whether the PA we see is a 'pause bar' or a 'reversal bar'. I've been burnt so many times...
That is a valid point well made, something I overlooked but equally important.

It's quite easy for a beginner to get excited and just enter a trade if they get PA at a marked PPZ area...when the type and setup of the PA is just as important as the PPZ area itself.

The mental 'tick-list' one goes through when appraising a formation of PA should still be used when at PPZ area...i've been there and done that too, trades any type of PA if it forms at a PPZ area without taking a step back to fully appraise what the PA is telling us. The excitement of wanting to trade creates indiscipline, calmness and patience are very important attributes that beginners need to learn very quickly.
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