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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

  • #60,941
  • Apr 15, 2010 6:04pm Apr 15, 2010 6:04pm
Quoting unlv_tj
The EURJPY looks like a decent play, depends how it closes for you. My daily closed 45 minutes ago. And there was a tail on the EURJPY bar that kept it from being a good looking BEOB to me.

If it closed lower (stronger), I would probably be all over this one as well. I will look for shorts on the 4H, due to the near BEOB on the daily.

Cable The Pin closed 10 pips below the open

E/J engulfs the open and close of the previous 4 bars on my feed!

Better get my orders in Just for a quick TP for each as its Friday and I hate having positions open over the weekend unless well into profit
  • #60,942
  • Apr 15, 2010 6:38pm Apr 15, 2010 6:38pm
Quoting shauns1966
Hi Cprao

This is a reversal bar. If you look at posts from Ghous over the last couple of weeks they are explained. He plays them entering on the close of the bar with a tight stop.

I think they need some careful management. Not sure I will trade it might just demo
Ok. Thank you..
  • #60,943
  • Apr 15, 2010 7:33pm Apr 15, 2010 7:33pm
2/3 of GBPCHF closed @ b/e.
Many choose unhappiness over uncertainty.
  • #60,944
  • Apr 15, 2010 8:18pm Apr 15, 2010 8:18pm
Quoting Dan Gilbert
2/3 of GBPCHF closed @ b/e.
Nice Dan. Your stuck to your plan.
Indicators show the past. Price Action "Indicates" the future.
  • #60,945
  • Apr 15, 2010 8:40pm Apr 15, 2010 8:40pm
Quoting nasir.khan
Some InsideBars.
.
Quoting nasir.khan
Why not the 4H inside bars?
.
Triple Inside Bar on Gold and Double Inside Bar on the Euro. Dale would be loving these and I can't blame him.


Location is always important with a Price Action setup, but with Double (or Triple) Inside Bars they seem to give a robust break in any direction, enough at least for a nice profit and/or to protect yourself. I like them with the short term trend but I've seen them reverse the trend. You gotta like their low risk structure.
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Indicators show the past. Price Action "Indicates" the future.
  • #60,946
  • Apr 15, 2010 9:26pm Apr 15, 2010 9:26pm
Quoting Atc
GPD/USD 4 hr

BEOB
BRN ABOVE 1.5500
Swing High
little traffic ?
shorted the break of1.5450 area
into 1st target support area and RN 1.5410 area

Daily(not Shown) 365 ma above price bar
Quoting supremeChaos
what do u want us to say?
decent-sized BEOB.
just noticed this trade already moved in your favor...
i was supposed to say that be aware of possible traffic from Last Tuesday's highs. as u know, (BEOB broke hard/) price moved past through it with momentum, & that's what we want to happen!
now, it's all about trade management.
u can exit some at 1.5400 & leave some positions open.
manage it as best as u can
Quoting smikester
It's a nice reversal bar but we would like to see these in the context of a continuation of a down trend of a swing high. This particular bar will probably continue downwards in my opinion but there are lots of potential support areas e.g. 1.5380 daily support which will make it a choppy trade. Given that we usually place our stop loss above these bearish bars this gives us a poor risk reward ratio and therefore lots of worry. A better trade would have been to see daily pivot point R1 and the confluence of 1.55 and take a short trade off that figure...
Very nice guys.
Indicators show the past. Price Action "Indicates" the future.
  • #60,947
  • Apr 15, 2010 9:53pm Apr 15, 2010 9:53pm
huhhh, supremeChaos, I didn't realise my question might spare you so much time to give this detailed reply. thank you

Quoting supremeChaos
valid in hindsight?
not really. u just have to experience it to see/believe it.
when price moves up/down, creating a swing high/low, & u see space to the left of current price (that is, u dont see price action to the left of the swing high/low), then it is a valid swing high/low -- u can see/distinguish it in real time.
ok, my eyes are , i made a random search for u.
here are some random posts/charts for u:
here (swing high),
here...
  • #60,948
  • Edited 11:04pm Apr 15, 2010 10:14pm | Edited 11:04pm
Quoting Mauzzz
Hello Guys,

My name's Andrew and I have been following this thread for quite some time in the undercover mode. I've finally decided to register because I want to thank all of you (and later hopefully contribute as well) for making this thread what it is - the best thread about trading I've ever come across.

I've got a little question for those who are, or have at some point been, part of the Private Forum. Would you consider it to be worth it to join the PF for someone for whom 130 USD monthly is currently quite a lot of money (I'm...
I don't how long you been lurking but alot of great info is right here in the Thread. The PF has a ton more videos and webinars that will help you greatly in your learning curve. I know it did for me. Plus alot of other PA and trading related material that you don't get too much of on this thread.

I'm sure you've seen the Guests material :

http://www.james16group.us/Guests/guestmaterial.html

The PF is the Guests material times 1000.
Indicators show the past. Price Action "Indicates" the future.
  • #60,949
  • Apr 16, 2010 12:57am Apr 16, 2010 12:57am
Hi guys

just trading the dailies/weeklies just now and was wondering how many PPz's people have on their screen? ie for a daily chart do you just have the ppz nearest to current price or 2/3 ppzs? Also, how often do you update your charts to draw in new PPz? Does it not take quite a while to form a new ppz? I am just trying to finetune my charts but do not want lines all over my charts which will paralyse my thinking/analysis.

berti
PA is where its at!!
  • #60,950
  • Apr 16, 2010 1:40am Apr 16, 2010 1:40am
Hello berti,
to keep it simple & avoid analysis paralysis..
try to update your chart (at the end of) every week. or update as necessary intra-week.
the number of lines/PPZs will be trader-dependent & IMHO currency pair (movement)-dependent [some pairs are trending, while others are ranging].

Hope this helps
  • #60,951
  • Apr 16, 2010 1:46am Apr 16, 2010 1:46am
Quoting bertie123
Hi guys

just trading the dailies/weeklies just now and was wondering how many PPz's people have on their screen? ie for a daily chart do you just have the ppz nearest to current price or 2/3 ppzs? Also, how often do you update your charts to draw in new PPz? Does it not take quite a while to form a new ppz? I am just trying to finetune my charts but do not want lines all over my charts which will paralyse my thinking/analysis.

berti
I'm going to make a post, maybe tomorrow, about how using the zigzag custom indi is a good tool to spot the most important ppz's. Just look at Jarroo's charts though, you need to manually spot those minor PPZ's when managing a trade as well....
Many choose unhappiness over uncertainty.
  • #60,952
  • Apr 16, 2010 2:16am Apr 16, 2010 2:16am
Quoting Dan Gilbert
I'm going to make a post, maybe tomorrow, about how using the zigzag custom indi is a good tool to spot the most important ppz's. Just look at Jarroo's charts though, you need to manually spot those minor PPZ's when managing a trade as well....
DanSupreme

Thanks for the comments - will try updating my chartsppzs more regularly. Look forward to your post on this Dan - paying a lot of attention to your posts as you seem to be a good trader in the making.

berti
PA is where its at!!
  • #60,953
  • Apr 16, 2010 2:17am Apr 16, 2010 2:17am
Quoting bertie123
paying a lot of attention to your posts as you seem to be a good trader in the making.

berti
meh.... I try
Many choose unhappiness over uncertainty.
  • #60,954
  • Apr 16, 2010 2:51am Apr 16, 2010 2:51am
Goood morning guys!!

Tonight I took the IPB on GBPUSD on my demo....

Quick and profitable...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,955
  • Apr 16, 2010 3:08am Apr 16, 2010 3:08am
And took also these 2 IBs...full profit at the first trouble area..
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,956
  • Apr 16, 2010 3:13am Apr 16, 2010 3:13am
Quoting bertie123
Hi guys
just trading the dailies/weeklies just now and was wondering how many PPz's ...
Hey berti,
as an addition, study the PPZ plotting styles of the seniors here.
also, u can check Sir Blackeagle's way of plotting S/R's. i've mentioned it here before (u can find that post or just search through Blackeagle's post history). let me know if u cant find it.
  • #60,957
  • Apr 16, 2010 4:00am Apr 16, 2010 4:00am
Quoting Chris_B
Goood morning guys!!

Tonight I took the IPB on GBPUSD on my demo....

Quick and profitable...
Yeah I took the same trade Chris. My first IPB trade, worked out very nicely.
Previous day's low lined up with the daily S1 made an obvious target.

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #60,958
  • Apr 16, 2010 4:46am Apr 16, 2010 4:46am
First don't take this the wrong way ....but as I understand and trying to learn according to Ghous and seniors that the IPB on the GBP/USD Daily was not technically an IPB because it did not open and close within the top third or preferably less than the previous bar.

This is not to say that the location and other factors that supported to short the pair were not viable.
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  • #60,959
  • Apr 16, 2010 4:58am Apr 16, 2010 4:58am
What is IPB, can anyone tell me?
Dancing with Candlesticks
  • #60,960
  • Apr 16, 2010 5:02am Apr 16, 2010 5:02am
Quoting Atc
First don't take this the wrong way ....but as I understand and trying to learn according to Ghous and seniors that the IPB on the GBP/USD Daily was not technically an IPB because it did not open and close within the top third or preferably less than the previous bar.

This is not to say that the location and other factors that supported to short the pair were not viable.
I agree..but i considered this a valid IPB because the close was "borderline" to the previous day high, it was only 2 pips above on my feed...
Market is like a puzzle, YOU have to fit the pieces!!
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