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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

  • #60,821
  • Apr 14, 2010 6:28am Apr 14, 2010 6:28am
Quoting bertie123
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup. I am starting to believe in the power of the J16 methods and for the first time in ages I am optimistic about my trading.
Thank you Bertie,

...

For making my day...

You've been a patient and a rigorous learner, hence the reward.

We look forward to your insightful posts.

g.
I believe . . .
  • #60,822
  • Apr 14, 2010 6:29am Apr 14, 2010 6:29am
Quoting jeurre
Hi, I want to learn your method, here is a short trade triggered based on below reasondouble top, pinbar break....
Hello jeurre,
-zoom out your H1 chart. your zoomed out chart is not enough.
zoom your chart out at least 1 notch higher --anything less than this is less informative, imho.
-does that pinbar get your attention/'jump out at you'?
that pinbar is pretty small for price to reverse (go in your trade's favor) convincingly.
-a pinbar & a double top are not enough for you to take a trade. u should look at other possible reasons (if there are any). if u take double tops, at least have another confluence like divergence.
-check out the higher timeframes.
-this is the H1 chart. u should start H4 & up if u are new to this method.

step by step..
Good luck!
  • #60,823
  • Apr 14, 2010 6:34am Apr 14, 2010 6:34am
Quoting bertie123
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup...
got charts?
That's awesome!
Keep it up!!
  • #60,824
  • Apr 14, 2010 6:41am Apr 14, 2010 6:41am
Quoting bertie123
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup. I am starting to believe in the power of the J16 methods and for the first time in ages I am optimistic about my trading.
Hey Bertie - I'm starting to get this feeling as well. I just need to be more picky, nothing a few more months of demoing won't fix

This and last week have been the first profitable weeks I've had with this method and with some profits in the account I'm starting to enjoy not being in the market as opposed to feeling anxious when I don't have any open positions. I almost want to just take the rest of the week off
Anything can happen.
  • #60,825
  • Apr 14, 2010 6:48am Apr 14, 2010 6:48am
Quoting bertie123
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup. I am starting to believe in the power of the J16 methods and for the first time in ages I am optimistic about my trading.
Bertie, sounds really good. Can you share the set ups?

J67
  • #60,826
  • Apr 14, 2010 7:03am Apr 14, 2010 7:03am
3 pins I've taken are:

last week - EUR/JPY
Sunday night/Monday morning - GBP/CHF
last night/this morning - AUD/JPY

Took a continuation of EUR/JPY on Sunday/Monday am that was a winner

Also had a winner on the outside bar on AUD/NZD last night/this morning

Had a loser on an outside bar from AUD/JPY yesterday

Passed yesterday on AUD/USD, USD/JPY

Took the IBP on GBP/USD this morning and got stopped out at B/E
Anything can happen.
  • #60,827
  • Apr 14, 2010 7:05am Apr 14, 2010 7:05am
Quoting Jonners67
Bertie, sounds really good. Can you share the set ups?

J67
3 Of them here.
.
  • #60,828
  • Apr 14, 2010 7:53am Apr 14, 2010 7:53am
E/G 4hr chart

Does this look like a justifiable DBHLC trade with Resistance Above/Channel type trade?

Any comments appreciated? This was on demo
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  • #60,829
  • Apr 14, 2010 8:04am Apr 14, 2010 8:04am
Quoting nasir.khan
Non of them break. SL hit on EJ touch.
Waiting for the Double Tops now.
.
Here's my PB.
.
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  • #60,830
  • Apr 14, 2010 8:28am Apr 14, 2010 8:28am
Hello people I want to ask 2 questions ,should I read the 4000 pages?? I can do it in 2 months or so ,no problem. But I want to know if there is a better way to get the info.

Another question ,is it possible to trade only daily pin bars with SL above/below the pin ?? Just for the sake of simplicity??
  • #60,831
  • Apr 14, 2010 8:47am Apr 14, 2010 8:47am
Quoting Brb-Fraudin
Hello people I want to ask 2 questions ,should I read the 4000 pages?? I can do it in 2 months or so ,no problem. But I want to know if there is a better way to get the info.

Another question ,is it possible to trade only daily pin bars with SL above/below the pin ?? Just for the sake of simplicity??

I have a James16 EA for sale.....
  • #60,832
  • Apr 14, 2010 8:57am Apr 14, 2010 8:57am
Quoting Brb-Fraudin
Hello people I want to ask 2 questions ,should I read the 4000 pages?? I can do it in 2 months or so ,no problem. But I want to know if there is a better way to get the info.

Another question ,is it possible to trade only daily pin bars with SL above/below the pin ?? Just for the sake of simplicity??
First 200-400 pages, all posts links in the first page and then thread summaries will put you on your way.
.
  • #60,833
  • Apr 14, 2010 9:26am Apr 14, 2010 9:26am
I'm trying to work out the right timing to move break even
Twice I have moved up my stop loss to BE but then it hits and then takes off
At the moment I have played two pinbars been up approx 100 pips and then move up SL and then get stopped out

I'm trading one pinbar in D1 should I run a two bar stop to prevent thiis
And one in H1 as well !

What's the best timing to move to BE?????
Thank you J16 & Trader Dante
  • #60,834
  • Apr 14, 2010 9:59am Apr 14, 2010 9:59am
Quoting chartergas
I'm trying to work out the right timing to move break even ...What's the best timing to move to BE?????
Hey charter, as many of the seniors will point out, trade management is a very personal thing. It has a lot to do with how you handle losses and feelings of missing out (i.e. greed/fear). Where you are in your trading journey is also a huge factor. What you feel comfortable doing today because you lack confidence, might not be what is best for your account in six months.

Jarroo has posted a "Free Trade" method many times where you take off half of your position at around 1:1 risk/reward and then leave your stop the same on the other half. Your risk at this point is zero. And you won't get frustrated from getting stopped out early. Take a look at that and see if that fits your comfort level.

Just my thoughts...

-- Danny
  • #60,835
  • Apr 14, 2010 10:00am Apr 14, 2010 10:00am
Quoting chartergas
I'm trying to work out the right timing to move break even
Twice I have moved up my stop loss to BE but then it hits and then takes off
At the moment I have played two pinbars been up approx 100 pips and then move up SL and then get stopped out

I'm trading one pinbar in D1 should I run a two bar stop to prevent thiis
And one in H1 as well !

What's the best timing to move to BE?????
Hi Chartergas,

Throw up your chart if you can.

It's a little frustrating for you at first, since it depends on the type of situation the trade is in (regarding traffic etc) and you need to learn to recognise and choose. (and based a little on your own "style" too , in time.)

Don't run the other way though. lol ...It'll just take a bit of practice to recognise the best way for which situation. But everyone here will help you get there.

Edit: Bluetrader's suggestion is fantastic too. (eg Jaroo's methods)
Bundy's status today: "Waiting..."
  • #60,836
  • Apr 14, 2010 10:59am Apr 14, 2010 10:59am
Anyone else in on crude? Taken half off as breached the recent highs, that more than covers my "stop out" position. Would be nice to see it run.

Trying to be picky as hell at solid ppz's (thanks Lovejoy for your guidance) - the two upper blue dotted lines are my monthly and weekly ppz's so great confluence.

J67
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  • #60,837
  • Apr 14, 2010 11:10am Apr 14, 2010 11:10am
Just for the heck of it I had a look at commodities and noticed what might be an IBP on the gold 4h chart.

Any opinions?
Anything can happen.
  • #60,838
  • Apr 14, 2010 11:10am Apr 14, 2010 11:10am
Ghous any comments on UC 4H IPB. Sorry no charts. Posting from moile.
  • #60,839
  • Apr 14, 2010 11:28am Apr 14, 2010 11:28am
Quoting jeurre
Hi, I want to learn your method, here is a short trade triggered based on below reason ：double top, pinbar break.

if the stop were taken out, then, reverse to long as the breakout method LJ and other successful traders here are doing.

am I doing correct or wrong? thanks
Hey Jeurre

Welcome to the thread. This is a great example of a trade that will trick us and eventually you'll learn what to do with these. Firstly make sure to read the first post by James about starting on higher timeframes. It is tough to make decision properly on the 1hr when new to this stuff.

But notice how tiny that pinbar is and it was just "starting" to approach this former high area. This tiny bar really shows price just saying "listen last time we got near this area price dropped". But notice this time the selling was not that strong(indicated by the bar size). Now the most improtant order flow in my view exists BEYOND that former high. Notice when price breached this high HEAVY selling came in and we formed a very very large BEOB(bar with arrow above it). THis is what I call true selling.

Again welcome and hope that helps
Mike
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  • #60,840
  • Apr 14, 2010 11:30am Apr 14, 2010 11:30am
Quoting Brb-Fraudin
Hello people I want to ask 2 questions ,should I read the 4000 pages?? I can do it in 2 months or so ,no problem. But I want to know if there is a better way to get the info.

Another question ,is it possible to trade only daily pin bars with SL above/below the pin ?? Just for the sake of simplicity??
Hey Fraudin

Make sure to read post 1 a bunch and then start to work your way through the thread. After a few hundred pages you will be able to get through a lot of it faster and especially be able to skip to the important stuff.

As for your question on Pins yes it is possible and this is how I do it too

Best
Mike
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