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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

  • #61,561
  • Apr 22, 2010 8:37am Apr 22, 2010 8:37am
Quoting nasir.khan
This is what happened to me.
..
i had a loss too, although not full bar (aggressive entries).
i had 1.6460-70 marked in my chart (as potential minor PPZ), i didnt think it would hold. (price bounced there)
price wants to end the week with a bullish note. let's see
  • #61,562
  • Apr 22, 2010 9:05am Apr 22, 2010 9:05am
Quoting nasir.khan
This is what happened to me.

Full bar loss.
.
never trade against i4b's
Attached Image
Many choose unhappiness over uncertainty.
  • #61,563
  • Apr 22, 2010 9:19am Apr 22, 2010 9:19am
Quoting bluetrader
Hey Jcpfx, did you weather the storm on the EUR/JPY H4 BEOB from yesterday? It's currently at its first traffic area (123.90). It was a tough one to manage, but it got there.

I'm currently short GBP/JPY H4 BEOB on a small retrace (see chart). Looking good so far...


-- Danny
Hey Danny,

Yes, I did weather the storm, I set my profit target at 124.34, and was out before bedtime, which I like

Nice trade on GBP/JPY. I missed that one, just getting started this morning.

Thanks for checking in.

Later,

Jacob
  • #61,564
  • Apr 22, 2010 9:37am Apr 22, 2010 9:37am
Quoting Dan Gilbert
never trade against i4b's
Dan

not sure what you mean by 'never trade aganst an ib4' - it can break one way or the other (or both). Can you clarify this, thanks. I know its probably simples but I am a simple guy!!
PA is where its at!!
  • #61,565
  • Apr 22, 2010 9:46am Apr 22, 2010 9:46am
Quoting bertie123
Dan

not sure what you mean by 'never trade aganst an ib4' - it can break one way or the other (or both). Can you clarify this, thanks. I know its probably simples but I am a simple guy!!
that i4b already broke north. granted I already took full profit, but looking at a weekly chart is the best way to get a "feel" for what to expect in the coming week!

I feel like I'm turning into james/jarroo these days. I get real nervous for you guys trading 4hr, and sometimes even 1hr charts

if I'm trading a 4hr chart I need a MASSIVE bar to take a trade, and 1hr charts are disaster unless you are very experienced. There's so much noise in those smaller T/Fs. You are better off to trade a daily chart touch trade than a 1 hr price action trade (in my honest opinion)
Many choose unhappiness over uncertainty.
  • #61,566
  • Apr 22, 2010 9:57am Apr 22, 2010 9:57am
Quoting Dan Gilbert
that i4b already broke north. granted I already took full profit, but looking at a weekly chart is the best way to get a "feel" for what to expect in the coming week!

I feel like I'm turning into james/jarroo these days. I get real nervous for you guys trading 4hr, and sometimes even 1hr charts

if I'm trading a 4hr chart I need a MASSIVE bar to take a trade, and 1hr charts are disaster unless you are very experienced. There's so much noise in those smaller T/Fs. You are better off to trade a daily chart touch trade than a 1 hr price...
Thanks dan, you have clearly explained it. I agree with you about shorter TFs_ I am doing my damndest to stick to daily but it is difficult sometimes when you see guys on here taking winning trades on 4h, etc!!!
PA is where its at!!
  • #61,567
  • Apr 22, 2010 9:59am Apr 22, 2010 9:59am
I don't have any open trades on this, but looks like this pair just hit strong ppz.
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  • #61,568
  • Apr 22, 2010 10:28am Apr 22, 2010 10:28am
Quoting bertie123
Thanks dan, you have clearly explained it. I agree with you about shorter TFs_ I am doing my damndest to stick to daily but it is difficult sometimes when you see guys on here taking winning trades on 4h, etc!!!
One time Mike laid something out that woke me up.

If you make 1%/week on average, that's 50%/year average.

That is HUGE.

You do not need to waste your time on 4hr charts to achieve such a goal as that.

Just take A+ daily/weekly bars and watch your account grow.

Or take a bunch of 1 hr bars and watch your account shrink.

I used to keep all my charts on the 4hr time frame as my "standard view". now-a-days I cannot tell you the last time I looked at a 4 hr chart lol.

If you find yourself getting impatient, buy some trading books, or go on google and try to find some good PDF's about trading and read them while you wait for the daily bars to close up.

The reality is that if you spend your time learning, instead of shotgun trading, you will be much better off.
Many choose unhappiness over uncertainty.
  • #61,569
  • Apr 22, 2010 10:40am Apr 22, 2010 10:40am
Quoting Dan Gilbert
never trade against i4b's
Dan (and anyone as well who knows), please help shed more light on this "ixb" stuff...I once came across it somewhere in the thread but was focusing mainly on the basics of Jame16.Now I believe I can grasp it if taken through.Thanks
  • #61,570
  • Apr 22, 2010 10:50am Apr 22, 2010 10:50am
Quoting jeffokes
Dan (and anyone as well who knows), please help shed more light on this "ixb" stuff...I once came across it somewhere in the thread but was focusing mainly on the basics of Jame16.Now I believe I can grasp it if taken through.Thanks
this is all I can give right now, I'm on my way out for the day.
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Many choose unhappiness over uncertainty.
  • #61,571
  • Apr 22, 2010 10:57am Apr 22, 2010 10:57am
Quoting Dan Gilbert
One time Mike laid something out that woke me up.

If you make 1%/week on average, that's 50%/year average.

That is HUGE.

You do not need to waste your time on 4hr charts to achieve such a goal as that.

Just take A+ daily/weekly bars and watch your account grow.

Or take a bunch of 1 hr bars and watch your account shrink.

I used to keep all my charts on the 4hr time frame as my "standard view"....
actually, it's 67%. That's how compounding works. 2% a week is 180% compounded...
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File Type: xls Compounding.xls   30 KB | 546 downloads
  • #61,572
  • Edited 11:36am Apr 22, 2010 11:01am | Edited 11:36am
Quoting Dan Gilbert
this is all I can give right now, I'm on my way out for the day.
Thanks a lot...I should expect more on this right?

What's it's implication...trend reversal/continuation/...something else?
  • #61,573
  • Apr 22, 2010 11:03am Apr 22, 2010 11:03am
Quoting neutro
actually, it's 67%. That's how compounding works. 2% a week is 180% compounded...
doh!

http://pushrod.files.wordpress.com/2...c9023211ca.jpg
Many choose unhappiness over uncertainty.
  • #61,574
  • Apr 22, 2010 12:15pm Apr 22, 2010 12:15pm
Quoting Jcpfx
Hey Danny,
Yes, I did weather the storm, I set my profit target at 124.34, and was out before bedtime, which I like
Nice Jacob


Quoting bluetrader
... I'm currently short GBP/JPY H4 BEOB on a small retrace (see chart). Looking good so far...
I'm out at BE on my GBP/JPY short (free trade). The opposing pin was enough evidence to tell me this move was done...

-- Danny
Attached Image
  • #61,575
  • Apr 22, 2010 12:42pm Apr 22, 2010 12:42pm
I think I'm starting to get a hang of the J16 concept, but could someone critique my chart analisys?

I usually check my charts once a day for setups, normaly around 9pm central. I only look at the daily and weekly charts as advised. I view about 22 pairs.

I first try to look for PA that really jumps out at me. If nothings there I move on to the next pair. If something catches my eye then I check PPZ, BRN, market trend, 150 & 365 EMAs, new highs or lows, and fibs.

Am I on the right track here? I ask this question because I can sometimes scroll through my pairs in a matter of minutes if nothing jumps out at me. I've only placed 2 trades on my demo so far this month (both SHOULD have be winners and those mistakes will be corrected in the future). Is there something else besides reading that I can be or should be doing?

I feel its easier to turn the car around when you just start your journey.

Thanks for your input
  • #61,576
  • Apr 22, 2010 12:45pm Apr 22, 2010 12:45pm
Quoting spookie94
I think I'm starting to get a hang of the J16 concept, but could someone...
gets a big thumbs up from me
  • #61,577
  • Edited 9:15pm Apr 22, 2010 12:49pm | Edited 9:15pm
Hey guys.

It's my first post here. Glad to join this greatest thread.
I'd like to thank everyone for this thread. I've been trading on demo for about 3 months and while traded i found really great ideas, setups and ways to trade on this thread.
For these three months my acc has grown 20-25percent with risk about 2percent.
Interesting, but almost every trade was profitable (daily charts) with pin bars on confluence zones(brn,fibs,emas,ppz). I used to take full profit on nearest ppz and win rate is high.
However this zone can be situated near actual entry place, with full PB stoploss such trades have relative small RR.

After all these trades i have a question:
In your opinion, what's the best way to take profit? may be consider ppz And RR(at least >1 ) or more tight stops? I know it's all subjective, would like to hear your ideas/approaches.

Thanks you again, guys.
  • #61,578
  • Apr 22, 2010 1:05pm Apr 22, 2010 1:05pm
Lets see if i finally get this,

What u guys think of this 4hr eur-usd pin bar?, well, open is in the range of previous bar, but close isnt. In the good side, location looks good, we have divergence on RSI, and i think we have what Mike say is space.

Any feedback would be appreciated

Regards

Hector

PD: Demo trade is what u look on the chart, hasnt been triggered
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  • #61,579
  • Apr 22, 2010 1:13pm Apr 22, 2010 1:13pm
Quoting WizardPip
Lets see if i finally get this,

What u guys think of this 4hr eur-usd pin bar?, well, open is in the range of previous bar, but close isnt. In the good side, location looks good, we have divergence on RSI, and i think we have what Mike say is space.

Any feedback would be appreciated

Regards

Hector

PD: Demo trade is what u look on the chart, hasnt been triggered
Hey Hector

This would be a nice location if the pin was stronger but remember the pinbar must close within the prior bar to be considered a pinbar j16 style

Best
Mike
  • #61,580
  • Apr 22, 2010 1:25pm Apr 22, 2010 1:25pm
Quoting mbqb11
Hey Hector

This would be a nice location if the pin was stronger but remember the pinbar must close within the prior bar to be considered a pinbar j16 style

Best
Mike
Thxs Mike, and in your experience this bars doesnt work out well?
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