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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

  • #62,121
  • Apr 28, 2010 10:22am Apr 28, 2010 10:22am
Quoting An_Lie88
hello i want to say a big thanks to all of you guys.....learn a lot of things from this community.....

the first time i read i learn about PB,BUOB,BEOB aka candle formations, demo in big tf and learn about patience + MM......further i read, i learn about confluence, candle locations, traffic and PPZ.... and further i read again, i learn about breakout retrace PA........and further i read again i learn about trailing your stop so that you can't have a big losses in ur trade.....still in page 700....hope will catch up with you ASAP........and...
Welcome Lie keep going! demo demo demo till you get it
  • #62,122
  • Apr 28, 2010 10:23am Apr 28, 2010 10:23am
Quoting nasir.khan
Hey Mike you like BEOB's at BRN's???

(If it could close below the BRN.)
.
Hey Nas

I do, but I would have needed more info then just engulfing 1 prior bar. i would want to see a story. Obviously never closed below and bounced off the BRN though

Best
Mike
  • #62,123
  • Apr 28, 2010 10:57am Apr 28, 2010 10:57am
I took a full bar loss on this weekly crude pin.

lesson learned: wait for a larger break over a BRN when price is heading at one.

luckily my wheat trade will keep me way in profit for the week on futures
Attached Image
Many choose unhappiness over uncertainty.
  • #62,124
  • Apr 28, 2010 11:05am Apr 28, 2010 11:05am
Quoting Chris_B
Thank you!! If all setups could work out like this...

Hi Chris B! Im looking for you to discuss some matters regarding renko range bars that you have created or modified. Do you have a personal email so that I could contact you. Thanks. Rgs/ Michael
  • #62,125
  • Apr 28, 2010 11:10am Apr 28, 2010 11:10am
uh oh! 4hr chart!

Looks good to me.
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Many choose unhappiness over uncertainty.
  • #62,126
  • Apr 28, 2010 11:18am Apr 28, 2010 11:18am
Quoting jarroo
Your going to have to give me more information than that Hans.

Where is that PB located? BRN? PPZ level? Or both?
What's its size as it relates to preceeding bars?
Is it at a swing High or Low?
Does it have a lot traffic?
Does it have any confuences that support it? Or confluences going against it?
Is it at a retracement level?
Is there conflicting PA on higher time frames? Or does it agree with higher tiime frame PA?
What is it trading into?

Etc.
Hello Jarroo, I was just thinking out loud after I saw some pretty small dojis on 4hr charts (@ swing highs/lows, PPZ, etc.) that worked like a charm. But then again I have found many counterexamples. So nevermind.

Thanks for your help
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #62,127
  • Apr 28, 2010 11:24am Apr 28, 2010 11:24am
half out at +120... pinbar looks better in fxpro

http://i432.photobucket.com/albums/qq42/pizdun/aud.jpg
  • #62,128
  • Apr 28, 2010 11:42am Apr 28, 2010 11:42am
anyone took this one? i closed half position and moved stops to BE at 93.80...

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i took the weekly BUOB on the retrace at 93.00 cause it had a nice ppz area around it + its a RN
seems it was a good take since it catapulted up just when touching the 93.00 area


i also took this one (same strategy as the one above), but it wasnt moving so nice like the UJ so i closed it all at the FTA

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  • #62,129
  • Apr 28, 2010 11:48am Apr 28, 2010 11:48am
Hey Mike, just been checking out your vids in the guest section of J16 -I never realised you were such a breakout player!!!

Seems to me that "J16 teaching" really boils down to 2 method foundations: either see a good PA bar anywhere, then look for reasons to trade/not trade in terms of location, confluence etc... OR the other method is wait for good PPZs to break, pullback and then give PA (mainly pins by the look of it) to give a very high prob entry.

After watching your vids, I see you drill down timeframes to look for pins/PA upon a larger timeframe PPZ breakout (in on vid you had 4hr PPZ break long on the Swissy with a 1hr pin on the pullback).

If I may ask: in your very valid opinion, are these A+ breakout setups generally more reliable/profitable than the "other" (and more popular itseems) J16 method of "PA spotting"?

Trig
  • #62,130
  • Apr 28, 2010 11:54am Apr 28, 2010 11:54am
Quoting ppfx
anyone took this one? i closed half position and moved stops to BE at 93.80...

Attachment Attachment

i took the weekly BUOB on the retrace at 93.00 cause it had a nice ppz area around it + its a RN
seems it was a good take since it catapulted up just when touching the 93.00 area


i also took this one (same strategy as the one above), but it wasnt moving so nice like the UJ so i closed it all at the FTA

Attachment

very nice trade.

Look what I'm going to do for a live account touch trade. (1% risk)
Attached Image
Many choose unhappiness over uncertainty.
  • #62,131
  • Apr 28, 2010 12:59pm Apr 28, 2010 12:59pm
Quoting Dan Gilbert
very nice trade.

Look what I'm going to do for a live account touch trade. (1% risk)
Ballsy Stuff Dan,

What's going to hold price at 95 in your opinion?

g.
I believe . . .
  • #62,132
  • Apr 28, 2010 12:59pm Apr 28, 2010 12:59pm
I'm In a hawk mode lol

Just need a peace of information from the coming week.
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  • #62,133
  • Apr 28, 2010 1:02pm Apr 28, 2010 1:02pm
Quoting Dan Gilbert
very nice trade.

Look what I'm going to do for a live account touch trade. (1% risk)
On the watch list
  • #62,134
  • Apr 28, 2010 1:06pm Apr 28, 2010 1:06pm
Quoting ghous
Ballsy Stuff Dan,

What's going to hold price at 95 in your opinion?

g.
well on a weekly chart, we are in a strong down trend, and have been for a very long time.

this retracement has been real slow, and 61.8 is my favorite fib, I also love vbrn.

the only thing that is ballsy here is my 50 pip stop. a 100 pip stop would be much "safer" but I'm not scurred. I like this one a lot.
Many choose unhappiness over uncertainty.
  • #62,135
  • Apr 28, 2010 1:07pm Apr 28, 2010 1:07pm
Quoting ghous
Ballsy Stuff Dan,

What's going to hold price at 95 in your opinion?

g.
The 95.00 looks pretty strong; BRN, PPZ and 61.8 fib
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Indicators show the past. Price Action "Indicates" the future.
  • #62,136
  • Apr 28, 2010 1:10pm Apr 28, 2010 1:10pm
Quoting Dan Gilbert
well on a weekly chart, we are in a strong down trend, and have been for a very long time.

this retracement has been real slow, and 61.8 is my favorite fib, I also love vbrn.

the only thing that is ballsy here is my 50 pip stop. a 100 pip stop would be much "safer" but I'm not scurred. I like this one a lot.
Thnx Bro. wanted to know what were the odds you stacked up for for this one,



g.
I believe . . .
  • #62,137
  • Apr 28, 2010 1:11pm Apr 28, 2010 1:11pm
Quoting jarroo
The 95.00 looks pretty strong; BRN, PPZ and 61.8 fib
I see the top of the channel as well.
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  • #62,138
  • Apr 28, 2010 1:11pm Apr 28, 2010 1:11pm
Quoting jarroo
The 95.00 looks pretty strong; BRN, PPZ and 61.8 fib
Thnx to you too big man.
I believe . . .
  • #62,139
  • Apr 28, 2010 1:13pm Apr 28, 2010 1:13pm
Quoting Dan Gilbert
I took a full bar loss on this weekly crude pin.

lesson learned: wait for a larger break over a BRN when price is heading at one.

luckily my wheat trade will keep me way in profit for the week on futures

You may want to take those bullish PBs at swing lows. .shame on you.

As a continuation PB, risky but tradable but never a full bar loss.
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Indicators show the past. Price Action "Indicates" the future.
  • #62,140
  • Apr 28, 2010 1:17pm Apr 28, 2010 1:17pm
I would also note, that when I'm not ballsy, I cancel amazing trades after too much thinking
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Many choose unhappiness over uncertainty.
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