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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

  • #61,461
  • Apr 21, 2010 8:26am Apr 21, 2010 8:26am
Quoting squeezy
hahahhaha, nice one Nasir
nice location indeed, didnt act as supposed initially but when it flipped....twas magical....s turning into r
was watching ucad,ecad & acad for signals but the only one i got didnt like it much.....was hesitant so decided to let it be
seemed like selling at support to me
good work , are you in any cad trade,just curious
nop no interest in any cad atm.
.
  • #61,462
  • Apr 21, 2010 9:21am Apr 21, 2010 9:21am
Any comments on this one Ghous.

Size is better but could have been a nice setup if developed around 55.
.
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  • #61,463
  • Edited 9:51am Apr 21, 2010 9:24am | Edited 9:51am
Hey guys just a question, What do you think about this charts..
seems like its going up..
This is what the 4hr hours looks like
http://i39.tinypic.com/296dxyw.gif

and also look at the daily one with a pip bar
http://i43.tinypic.com/208b19l.gif

and the weekly

http://i42.tinypic.com/ok4dgm.gif
  • #61,464
  • Apr 21, 2010 9:26am Apr 21, 2010 9:26am
Nice BEOB, BRN, FIB retrace. Anyone in this?
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  • #61,465
  • Apr 21, 2010 9:48am Apr 21, 2010 9:48am
Quoting Jcpfx
Nice BEOB, BRN, FIB retrace. Anyone in this?
Hey Jcpfx,

I actually like this one. The close could have been lower, but it's a good size bar. Once it breaks, watch for the 123.90 area as your FTA.

It looks to be headed on its way down now after testing 125.00...

Good luck with it.

-- Danny
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  • #61,466
  • Edited 10:07am Apr 21, 2010 9:56am | Edited 10:07am
Quoting bluetrader
Hey Jcpfx,

I actually like this one. The close could have been lower, but it's a good size bar. Once it breaks, watch for the 123.90 area as your FTA.

It looks to be headed on its way down now after testing 125.00...

Good luck with it.

-- Danny
Thanks Danny, I don't really trade too many 4H TFs, mainly Daily, but this one jumped out at me on the retrace to 125.00. I can keep a nice tight stop and should be able to get an early BE position as well.
  • #61,467
  • Apr 21, 2010 10:08am Apr 21, 2010 10:08am
Quoting Jcpfx
Nice BEOB, BRN, FIB retrace. Anyone in this?
hey Jcp and the crowd

It is a while from my last post here, being busy and haven't enough time to post anymore.

Just to give back some thoughts maybe someone it would find it useful,so I decided to bring up into discussion EJ.

when I see price near some bold round numbers like 120, 115, 110..... I ussualy look for some specific behavior of price. Firstly when I look to the left I want to see price go through round number with high momentum and to go faraway from it. On the pullback all you need to do is to wait for price to give you some clues and then act accordingly,ussualy you will see a BUOB or BEOB as in our case

Don't forget that this big round number have the tendency to cluster big orders increasing the likelihood that trends reverse at such levels.

Also on the daily chart I see strong selling pressure coming form 127-128 zone ,each time price close near this zone it was a huge sell of coming from it. Also 127-128 zone was in the past the lower border of a wide range market.Don't forget to look at the overall picture it will give you important information over the market.

Forget about my sell order, I use another approach in this scenario, because of past experience. Waiting for the break of the PA is wise to do so, you are increasing your odds in your favor

After the PA I place my order at 125.00 bc as I say it ussualy price retrace back to it,is more risky.But whenever you see this kind of behavior afeter the PA price retrace to the big round number and you see that it is rejected is a strong sign that new sellers are coming into the market which will give you 95% chance of a successful trade.

hope it helps!!

all the best!!

PS: my JPY portfolio looks good

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  • #61,468
  • Apr 21, 2010 10:22am Apr 21, 2010 10:22am
I was looking at this one but passed. I play the traditional style of J16 of waiting for the bar to break. So it wouldnt have triggered for me yet.

I didnt however place a sell stop below the low for one reason. On IBFX the bar did not close where I wanted it to close tipping off that it was having some trouble at the 124.50 level. Good area, RN, EMA confliences but I just was not convinved withthe close of the bar so I sat out. I have to stick to my rules. Might not trigger low of bar anyway.

Quoting Jcpfx
Nice BEOB, BRN, FIB retrace. Anyone in this?
  • #61,469
  • Apr 21, 2010 10:36am Apr 21, 2010 10:36am
Quoting triger88990
hey Jcp and the crowd

It is a while from my last post here, being busy and haven't enough time to post anymore.

Just to give back some thoughts maybe someone it would find it useful,so I decided to bring up into discussion EJ.
Hi Triger,

Thank you for the great feedback.

I still consider myself relatively new to this method, but here's what I have been up to. I'd say that 70% of my trades so far have been on retraces of PA. The main reason being is that I just have a really hard time with large draw downs and try to be more precise about the entry so I can keep tight stops. I'm finding that this doesn't always work, as many times price will just continue onward without a retrace. But, this approach seems to really fit my personality well.

I generally will either wait for a 50% retrace of the PA or PA on the 1H TF if I am available to watch. As you might imagine I don't get many trades because of this, which is why I am starting to browse the 4H TF.

Even though it is working well for me, I must say that I don't trade this approach with much confidence yet, still getting a feel for it.

What you have explained in your post is very helpful and I would be more than happy to hear any further analysis you or anyone else may have on my approach.

Thanks!

Jacob
  • #61,470
  • Apr 21, 2010 10:51am Apr 21, 2010 10:51am
Quoting Jcpfx
Hi Triger,

Thank you for the great feedback.

I still consider myself relatively new to this method, but here's what I have been up to. I'd say that 70% of my trades so far have been on retraces of PA. The main reason being is that I just have a really hard time with large draw downs and try to be more precise about the entry so I can keep tight stops. I'm finding that this doesn't always work, as many times price will just continue onward without a retrace. But, this approach seems to really fit my personality well.

I generally will either...
glad to hear that it was helpful

Just some recommendation for you is to go to read the first post from this thread and to try to follow the requirement it will help you to grow up as a treader enormous and you will be release by a lot of pain along this journey.

for me it was helpful to do so, you will learn much more than trying to go to a lower tf,is just a suggestion.

hope to hear you will doing great and welcome to the thread

all the best!
  • #61,471
  • Apr 21, 2010 10:54am Apr 21, 2010 10:54am
Quoting nasir.khan
Any comments on this one Ghous.

Size is better but could have been a nice setup if developed around 55.
.
This one was pretty good Nasir.

What really would have got me into this one was the "rounding out" effect that price was displaying, of course the ppz you drew was another big factor in favor of that IPB.

g.
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I believe . . .
  • #61,472
  • Apr 21, 2010 11:03am Apr 21, 2010 11:03am
if anyone is interesting listening old jim rogers here is the link:

http://www.newsmax.com/video/?bcpid=...id=79110788001

he speeks about the next recession that we may dealing with, being greater than the first one

chears!!
  • #61,473
  • Apr 21, 2010 11:12am Apr 21, 2010 11:12am
Quoting triger88990
Just some recommendation for you is to go to read the first post from this thread and to try to follow the requirement it will help you to grow up as a treader enormous and you will be release by a lot of pain along this journey.
Will do, thanks again.
  • #61,474
  • Apr 21, 2010 11:20am Apr 21, 2010 11:20am
I went ahead and demo'd this weekly i4b.

full profit taken @ 1.6495
Attached Image
Many choose unhappiness over uncertainty.
  • #61,475
  • Apr 21, 2010 11:23am Apr 21, 2010 11:23am
Quoting triger88990
if anyone is interesting listening old jim rogers here is the link:

http://www.newsmax.com/video/?bcpid=...id=79110788001

he speeks about the next recession that we may dealing with, being greater than the first one

chears!!
Jim rogers is one of the only people on televison who know's what they're talking about.
Many choose unhappiness over uncertainty.
  • #61,476
  • Apr 21, 2010 11:33am Apr 21, 2010 11:33am
Quoting Dan Gilbert
Jim rogers is one of the only people on televison who know's what they're talking about.
you are right, he is among few people that I like listen so I can make a clear view about what will heppen around the world in the near future.

Not to mention that if you open your eyes and look around you it will be clear how things it will develop,not quite a perfect future.

all the best!!
  • #61,477
  • Apr 21, 2010 11:42am Apr 21, 2010 11:42am
Quoting triger88990
you are right, he is among few people that I like listen so I can make a clear view about what will heppen around the world in the near future.

Not to mention that if you open your eyes and look around you it will be clear how things it will develop,not quite a perfect future.

all the best!!
The other important note is that he is a trader. Not a buy and hold investor, which many analysts you see on TV are. either that or the typical traders you see on tv are just complete garbage.

This was posted on Dec 11th:

Inserted Video
Many choose unhappiness over uncertainty.
  • #61,478
  • Apr 21, 2010 1:31pm Apr 21, 2010 1:31pm
Quoting bluemosaic
Any comments on this pin bar on 4H chart much appreciated - it is occuring over the 1.0000 level.

I am thinking of taking long position if price rises a few points above 1.0000. I know it is against the trend though
Hey Blue

On your chart I see a pin at the very bottom a small one that has already been well under way. Which bar are you referring too?

Mike
  • #61,479
  • Apr 21, 2010 1:36pm Apr 21, 2010 1:36pm
Hi Mike,

Sorry - posted wrong chart - meant to post Day chart and not 4H.
Now having doubts about that bar as well - think 'head' is too large. See screenshot below. I really hope I get hang of this soon...

I will delete my original post. sorry for mix up

cheers
  • #61,480
  • Apr 21, 2010 1:43pm Apr 21, 2010 1:43pm
Quoting bluemosaic
Hi Mike,

Sorry - posted wrong chart - meant to post Day chart and not 4H.
Now having doubts about that bar as well - think 'head' is too large. See screenshot below. I really hope I get hang of this soon...

I will delete my original post. sorry for mix up

cheers
takes time bud, it really is a lot of just seeing this stuff and practicing and learning and it slowly clicks into place one thing at a time. Your analysis is good for the daily you are SEEing correctly. Large down trend, but price does have divergence and looking like it wants to turn over at least for some kind of retrace. Now will a small bar like this do it? PossiblY. We never know for sure, but the bigger and more important is if you play a bar like this what is your game plan? IMO if it can close above 1.0 that shows more strength then not being able to. Then it is a matter if that 1. can hold as support. So some might say, "ok I get it's a small bar but let me see if it breaks hard and if it retraces and 1.0 can't hold I will cut out". Others will pass(myself), but that is the beauty and the beast of trading as I say. There are a lot of ways to do things right and more ways to do things wrong

Keep at it
Mike
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