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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

  • #55,001
  • Feb 14, 2010 7:47pm Feb 14, 2010 7:47pm
Dhb,

Cool video thanks for sharing,
  • #55,002
  • Feb 14, 2010 8:29pm Feb 14, 2010 8:29pm
Quoting Dhb
Anybody....
Edit: View the documentary as a little 55,000th post present from me to everyone in this great thread.
55,000 posts. awesome, isn't it?
i'm looking forward to the 5,000th page (based on default setting) of this thread.
  • #55,003
  • Feb 14, 2010 8:43pm Feb 14, 2010 8:43pm
Quoting the novice
Short?
based on what?
it would be best if u speak your mind
  • #55,004
  • Edited 10:10pm Feb 14, 2010 9:07pm | Edited 10:10pm
Quoting Jonners67
Greetings from a long term lurker, 12 months and have done my time to trade low risk live....
What do you think to the 2 week pinbar on AU$ US$?...
Welcome & awesome first post!

FXPro charts
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the above chart's 2 white diagonal lines are parallel lines

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here are possible scenarios:
we may go up to .90 or 0.9050 ( 0.8950 - 0.9050: +/-50pips off the 0.9000; 0.8950 & 0.9050 are also the 50 & 61.8Fib ret of the Jan to Feb2010 swing) but close below 0.90 on a weekly basis. we may get an indicator (MACD or RSI, etc) divergence when we reach those highs.

we may range (pattern-wise) like the May-Dec2009 gbp$ weekly chart (not displayed here)
or we continue to go further down.

personally im inclined to short from higher prices than take this 2-week PB (off its bullish breakout). if this 2-week PB retraces (with a bullish PA), then i may reconsider going long.

the above charts speak better.
Hope this post helps
  • #55,005
  • Feb 14, 2010 10:28pm Feb 14, 2010 10:28pm
Quoting supremeChaos

the above charts speak better.
Hope this post helps
Nice S/R levels SC!
Bundy's status today: "Waiting..."
  • #55,006
  • Feb 14, 2010 11:41pm Feb 14, 2010 11:41pm
Quoting supremeChaos
based on what?
it would be best if u speak your mind
Sorry....

I thought of the confluence:
- downtrend
- PPZ
-MA 150 (purple line)
- round number 0.7
- reverse PB

Please enlighten.

Thanks.
  • #55,007
  • Edited 2:32am Feb 15, 2010 12:06am | Edited 2:32am
Quoting the novice
- reverse PB

Please enlighten.
I dont see anything 'reverse' about that bar (apart from it being the reverse of what you want to see ). I see a regular pinbar, pointing to a bullish move.

A rubbish one that I wouldnt trade, but anyhoo. I wouldnt exactly call it a confluent sign, more a divergent one.

*edit*
Trig's chart at the bottom of this page shows a good example of an IPB (aka 'reverse pin')

Quoting the novice
- downtrend


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When you have to shoot, shoot. Dont talk.
  • #55,008
  • Feb 15, 2010 12:25am Feb 15, 2010 12:25am
Quoting the novice
Sorry....
I thought of the confluence:....
no apologies needed Sir.
i merely requested u to be more detailed in your post so as readers will be able to give u a focused answer/view. this way u will be enlightened much better.

GIGO (Garbage in Garbage out): clear, to-the-point questions often/always get a clear, focused answer.
***

your post is still a bit vague (no direct question)... but, anyway.
if u are planning to short without a proper PA (bearish PA for a short, like PB BEOB etc), then it's unadvisable.
assuming there are confluences, u still wait for a PA (in the daily timeframe or not).
if u are inferring that your PA trigger (for a short) is the reverse pin, then it's a contradictory PA trigger. that pin is bullish while your intention is to short.

also, i noticed u have an open buy in your chart around 0.71. is this a PA-related/james16-related trade? if so, why is it still open?
[if this is a non-jame16 method trade, no need to explain as it may entail a different method which is beyond the scope this thread]
  • #55,009
  • Feb 15, 2010 1:17am Feb 15, 2010 1:17am
Alright just bought the gbpusd . Not really much of a technical reasoning since I just bought it because it seems like the pair cheap. It also seems like theirs a chance the market can move and the risk I am taking is small compare to the potential of a move I am seeking . I believe we might be accumalting in this pair so lets see if it pops. All I care about is making my risk worth it. Trading is a numbers game .

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  • #55,010
  • Feb 15, 2010 1:43am Feb 15, 2010 1:43am
Quoting Shermenator
Alright just bought the gbpusd . Not really much of a technical reasoning since I just bought it because it seems like the pair cheap. It also seems like theirs a chance the market can move and the risk I am taking is small compare to the potential of a move I am seeking . I believe we might be accumalting in this pair so lets see if it pops. All I care about is making my risk worth it. Trading is a numbers game .

Attachment
You are "Brave".

But i would wait for 740 or 530.
  • #55,011
  • Feb 15, 2010 1:47am Feb 15, 2010 1:47am
Quoting nasir.khan
You are "Brave".

But i would wait for 740 or 530.
Just really looking at the market from left to right ....its the second time the market goes sideways trying to absorb the havy selling in the market. Worst case if I am wrong I will just stop and reverse.
  • #55,012
  • Feb 15, 2010 1:54am Feb 15, 2010 1:54am
Quoting Shermenator
Just really looking at the market from left to right ....its the second time the market goes sideways trying to absorb the havy selling in the market. Worst case if I am wrong I will just stop and reverse.
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading* to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?


*which, while i generally dont think is a great idea unless there is a deeper understanding behind it (and I can only think of definitely one, maybe two, people who meets that criterion.. the rest are just justifying sloppy entries), it is still based on something concrete
When you have to shoot, shoot. Dont talk.
  • #55,013
  • Feb 15, 2010 2:00am Feb 15, 2010 2:00am
Quoting joelcf
This thread has gone from solid, ..
Yes that is because its turned into everyones journal thread ...

Not much wrong with that long but again i ask what it has to do with James16 teachings ...
  • #55,014
  • Feb 15, 2010 2:01am Feb 15, 2010 2:01am
Quoting joelcf
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?
  • #55,015
  • Feb 15, 2010 2:09am Feb 15, 2010 2:09am
lol
  • #55,016
  • Feb 15, 2010 2:09am Feb 15, 2010 2:09am
Quoting joelcf
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?

you maybe are right about it, and if is based only if price is approaching a ppz,without any other confluence the only results you can get in a long run is to destroy your account.

I was thinking to post this chart,maybe ghous can assist me,he is the one who play this kind of setups.

Pair: lonnie
setup: IPB off of big round number 1.0500
at 50% fib number from the last swing high/low

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  • #55,017
  • Feb 15, 2010 2:33am Feb 15, 2010 2:33am
hello mike

we have nice pin bar on the daily.can we say that we have confluence with the fib 50 and the ppz,because fib 50 is at 2.2300 and ppz is at 2.2200? there is also a ppz at 2.2300.

i want to go long at this pair.when i check the 4H i see that we have also a small pin bar right off the PPZ.

when i check the 1H chart i see a BUOB right on the PPZ,and it looks like a breakout trade.if i enter with the 1H chart would that be logical?because it includes a small pin bar on the 4H and a very good looking pin bar on the daily?

in your opinion is this a A+setup?
thank you...
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  • #55,018
  • Feb 15, 2010 2:42am Feb 15, 2010 2:42am
Quoting joelcf
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading* to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?

[size=1]
[i]*which, while i generally dont think is a great idea unless there is a deeper understanding behind it (and I can only think of definitely one, maybe two, people who meets that criterion.. the rest are just justifying sloppy entries), it is...

Ok now serious.

1- If price reach a great location on Daily/Weekly where we would be happy to take the PA (if it develops) but if it does not and we step down to 4H or 1H and we could see a little pattern forming like a Trangle, Box Breakout or A little wedge etc and we take the trade. I am not saying blindly but after confirmation/Break of the 4H-1H pattern itself.

2- While in a Strong Trending market, We wait for price to stop, take a breath and continue it's trend.
We enter at the breaks of the S/R created by price while gaining the momentum for the next move, and retraces of old S/R. We would be wrong just once.
But a very important thing here is that we should keep a close eye on higher time frames like weekly monthly S/R areas + PA, specially on Swing high/Lows cause these are the areas where trend's end or get stuck in range so obviously we won't be able to trade like we used to.
  • #55,019
  • Feb 15, 2010 2:49am Feb 15, 2010 2:49am
Hello,
I learn a lot from this great thread and thank for all of you

I just started backtest and demo trading of Daily Pinbar strategy at the same time and got one question.
What time has to be regarded as daily bar start?
And if each broker provide different starting bar, is result would different?

I use Oanda platform to do demo trading.
and Backtesting data from MBtrading MT4 chart.
  • #55,020
  • Edited 3:57am Feb 15, 2010 3:35am | Edited 3:57am
Quoting joelcf
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading* to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?

[size=1]
[i]*which, while i generally dont think is a great idea unless there is a deeper understanding behind it (and I can only think of definitely one, maybe two, people who meets that criterion.. the rest are just justifying sloppy entries), it is...
I agree I am demoing touch trades, but all my TA is based on daily and higher. And I only trade places with multiple confluence, not just a ppz or a fib and also looking at other markets such as dow. It can be done, look at raczefx, but I wouldn't start out with it. And keep it separate from your main PA account. The touch trades is a kinda morph of J16 and No brainers, with some market correlation thrown in.


Regards

Chatzi.
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