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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

  • #62,101
  • Apr 28, 2010 4:17am Apr 28, 2010 4:17am
Quoting yarin
swing low, but i like the size and the space that the trade have to run till 1.31.
what do u say?
Yep we have some room of 60-80 pips.
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  • #62,102
  • Apr 28, 2010 4:25am Apr 28, 2010 4:25am
Hi Guys

Not seeing anything A+ standard on the dailiesweeklies at the moment. Just wondering if anyone is stalking something I have missed? Into my 4th week of Month1 on J16 basics and 3% up on Account(demo) so don't want to take anything which is less than an A+ setup!
PA is where its at!!
  • #62,103
  • Apr 28, 2010 4:41am Apr 28, 2010 4:41am
Anyone trading this?

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  • #62,104
  • Edited 4:57am Apr 28, 2010 4:44am | Edited 4:57am
Hey Mike you like BEOB's at BRN's???

(If it could close below the BRN.)
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  • #62,105
  • Apr 28, 2010 4:45am Apr 28, 2010 4:45am
Quoting fxeturn
Anyone trading this?

Attachment
Well spotted..though you seem to have bought before the I4B has broken? the I4B is straddling a PPZ area.

I think Dan prefers these at BRN...these are where you have a very high success rate from what I've seen.
  • #62,106
  • Apr 28, 2010 5:06am Apr 28, 2010 5:06am
Quoting mbqb11
No biggie my friend, I have basically sat on my hands this entire month. It's a lot better then big losses


Mike
Hi Mike

Glad you said that - beginning to wonder if I am just gun shy. Everything I look at on dailys (good PA/Good location etc) either doesn't develop or just seems to be going straight into trouble areas/BRNs etc. Occasionally runners happen without me being on board but mostly I find that price stops or turns round as expected. All good learning experience I reckon.

Thanks

J
  • #62,107
  • Apr 28, 2010 6:01am Apr 28, 2010 6:01am
Quoting jspeakman
Hi Mike

... but mostly I find that price stops or turns round as expected.


J
Proves this stuff works
  • #62,108
  • Apr 28, 2010 6:05am Apr 28, 2010 6:05am
Quoting nasir.khan
why the triangle??lol

Hey Nas, hope you doing good. I'm sure you were joking with this one, but either way, thought I would throw it out there... does anyone REALLY use price patterns as a major rule i their J16 tradng? Wedges, flags and the like. To me, price patterns are nice but are a). easy to see & analyse in retrospect on a completed chart b). all the same thing: consolidations winding up for a break. I get bored with all the fancy names;when I see any type of winding up I just call it "consolidation" - but I have pretty much ignored it since learning J16. Bad idea?
  • #62,109
  • Apr 28, 2010 6:10am Apr 28, 2010 6:10am
Quoting pizdun
dont aim for x%. that will just mess you up. take what comes up. stick to the plan.
Hey

Yeah this is a double edge sword (what isn't in trading?!). The "X% per week/month" idea is a nice benchmark rule to have to simply have something to measure your performance to. BUT yes if you actually try to stick to it religiously to the point you panic if you make less one week/month then it can mess you up in your head and make you do silly trades to "make up the deficit". I would never stick to it that way, I would want an AVERAGE of 2% per week when months and months of trading is averaged out... if the figure is at or a little above 2% then job done! The benchmark must always be an average over time.
  • #62,110
  • Apr 28, 2010 6:18am Apr 28, 2010 6:18am
Quoting Dan Gilbert
You have said that in the past mike, and I have tried to take a few trades on it, and I just fall asleep with that pair no joke. It doesn't move the way other pairs do.

Dan

Not sure why you saying that? I just looked at the AUDNZD and I would love to trade all that PA! The choppiness is mouth watering for PA players. All I can see is pinbars, inside bars, S/R acting the way it should (as much as any other pair) and all this on lovely daily wide-ranging chop - fertile ground for J16 players no?

I might be missing something here! LOL! Yes there is little consistant trend but isn't PA at PPZs the backbone of this J16 method?
  • #62,111
  • Apr 28, 2010 6:40am Apr 28, 2010 6:40am
Quoting triggerju
Proves this stuff works
Sure does but I want my pips!
  • #62,112
  • Apr 28, 2010 7:04am Apr 28, 2010 7:04am
Quoting jspeakman
Sure does but I want my pips!

Me too

I may just cut out all this hard work and get one of those automatic FX bots you just plug into MT4 and they can get you around 20%+ per month easily. May be an idea rather than all this heartbreak over pins, PPZs etc?




PS: joke.
  • #62,113
  • Apr 28, 2010 7:17am Apr 28, 2010 7:17am
The double+ top/bottom pin.

I'm sure everyone has noticed, but the safest pins to me seem to be not necessary at PPZs/BRN (wait wait don't shoot me yet!!) but when the market makes a second (or more) attempt at ay area then gives a good looking pin (a double+ top or bottom, even only by a few bars).

Yes it's an obvious thing to say, but I wonder how crazy it would be for pin-only players to only play pins on these setups? Of course, a PPZ or BRN there too would only make it better, but the setup looks good on it's own wherever it is. This way, you NEVER would play a pin that is sitting alone with no friends to the left testing the water first.

3 examples: all EURUSD, daily, 2nd Dec 09 (the one that killed the Euro dead) - notice a few days before it had the first test at that level. Second example, 25th Feb 2010, in traffic a bit but went to FTA no sweat, few days before had the first test. Lastly, 8th April 2010, was a retest (double bottom) from 25th March, nice little pin, boom - took off.

Sorry I don't know how to post charts so they actually show in the thread window rather than as an attachment you have to open. Any help on that?

Anyway, double+ tops/bottoms pins - obvious but makes a great filter for the best pins????
  • #62,114
  • Apr 28, 2010 7:18am Apr 28, 2010 7:18am
Quoting triggerju
Hey Nas, hope you doing good. I'm sure you were joking with this one, but either way, thought I would throw it out there... does anyone REALLY use price patterns as a major rule i their J16 tradng? Wedges, flags and the like. To me, price patterns are nice but are a). easy to see & analyse in retrospect on a completed chart...
Yep i do pay attention to them but no fancy words, just consolidations and breakouts.
.
  • #62,115
  • Edited 8:19am Apr 28, 2010 7:48am | Edited 8:19am
13 minutes to the bar closing. By the way, I saw there are PAs on several other pairs too...

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edit: just spotted this PB
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  • #62,116
  • Apr 28, 2010 7:53am Apr 28, 2010 7:53am
Quoting raczekfx
some might have vague idea what it is...
.

Hi Rac,

i guess, it is trendline, 50% retracement and pin bar combo?

PM
  • #62,117
  • Apr 28, 2010 8:27am Apr 28, 2010 8:27am
Quoting triggerju
Me too

I may just cut out all this hard work and get one of those automatic FX bots you just plug into MT4 and they can get you around 20%+ per month easily. May be an idea rather than all this heartbreak over pins, PPZs etc?




PS: joke.
Never mind - just keep singing that old song 'Someday my pips will come'

Cheers

J
  • #62,118
  • Apr 28, 2010 8:50am Apr 28, 2010 8:50am
And continuation to fxeturn`s post Are you watching this or EURGBP H4 too?
Damn sideways traffic though..
Have a great week everyone
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  • #62,119
  • Apr 28, 2010 10:11am Apr 28, 2010 10:11am
Quoting PippingMama
Hi Rac,

i guess, it is trendline, 50% retracement and pin bar combo?

PM
Hi PM

No I understand it was simply a triangle price pattern - basic technical analysis stuff... seems to fit well I'm starting to find with J16 price action.

The triangle shape had a sloping top yet straight bottom... this shows bulls (people trading upwards) were losing strength pushing price up to retest the left side of the triangle but failing, thats all, it's very easy to find them on all charts, even if they dont look perfect.

The point of them is this: price HAS to break at some point either way as the triangle gets smaller and smaller to a point. The fact that the price couldnt reach the previous high meant a break down was a). likely b). the best side to take on a break either way, as it was probably going to succeed downwards. And it did. The Pin was pure confirmation that bulls were exhausted at the top of that second push up - this draws the triangle shape on your chart, get ready to bet lower....

Easy stuff, don't get confused by "shapes" and "names" - just remember the basic rule that a slope up on any consolidation "shape" you see is bull strength and down slope is bear strength. Wait for PA (pins etc) to confirm - it's another thing in my research folder I'm looking at now LOL

Hope this helps
Trig
  • #62,120
  • Apr 28, 2010 10:21am Apr 28, 2010 10:21am
Quoting Samb0o
Hi

I'm new to this forum and new to whole fx business. have been studying few weeks now and found this james16 threat after i heard this is great one. For few days reading looks like great and i'm going to go all threat through, but wanted to ask does anyone have all the charts that james16 has posted in one .zip file so that could be printed out? Would be lots of help to have all in paper.
Hey Samboo

Welcome try this

http://www.forexfactory.com/showpost...ostcount=55762

Best
Mike
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