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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

  • #63,341
  • May 11, 2010 1:37am May 11, 2010 1:37am
Quoting mbqb11
Hey E

Two bar matching lows/highs can be a good sign of a continuation when they break. I prefer multiple matching highs/lows within a short period. Those are even better

Find on you chart where you have 4-5+ matching highs/lows and what happens when price breaks them

Best
mike

thanks
  • #63,342
  • May 11, 2010 1:44am May 11, 2010 1:44am
this volatility is pretty wild.

Looks like the EU intervention has all the speculators convinced....
Many choose unhappiness over uncertainty.
  • #63,343
  • May 11, 2010 1:45am May 11, 2010 1:45am
Quoting mbqb11
Hey E

Two bar matching lows/highs can be a good sign of a continuation when they break. I prefer multiple matching highs/lows within a short period. Those are even better

Find on you chart where you have 4-5+ matching highs/lows and what happens when price breaks them

Best
mike

Do you refer to chart on daily bars or smaller tf?
  • #63,344
  • May 11, 2010 1:54am May 11, 2010 1:54am
Quoting extraneo
Do you refer to chart on daily bars or smaller tf?
everything with PA works on all timeframes. Everything is relative to that timeframe in my opinion. So everything you see done on a daily can be done on a 1 hour and vice versa. But my opinion still remains to start on the daily/weekly to learn the proper skillset to be able to take things where you like in the end

Best
Mike
  • #63,345
  • May 11, 2010 1:57am May 11, 2010 1:57am
Quoting mbqb11
everything with PA works on all timeframes. Everything is relative to that timeframe in my opinion. So everything you see done on a daily can be done on a 1 hour and vice versa. But my opinion still remains to start on the daily/weekly to learn the proper skillset to be able to take things where you like in the end

Best
Mike

big mike!
  • #63,346
  • May 11, 2010 2:36am May 11, 2010 2:36am
Quoting nasir.khan
Joel do you take interest in Cricket?
I'm Australian - it is about all we take an interest in After England did you a favour, we could have a bit of an intraforum grudge match coming up...

-----------
Aussie should behave interestingly tonight. Dont think the market really trusts labor that much at the moment to not try and dig us deeper into debt, so a modest budget could see a nice move. Or, if money gets thrown around like every other time... look out below.

Now, how about them pinbars?
When you have to shoot, shoot. Dont talk.
  • #63,347
  • May 11, 2010 2:51am May 11, 2010 2:51am
On H4, CADJPY, PB is forming.. 10 min to go..
  • #63,348
  • May 11, 2010 2:54am May 11, 2010 2:54am
Hey All,

I have got a question for you and really appreciate if you can tell me what you think about this post.

I had opened my MB TRADING MT4 platform and had spotted a nice PB on the daily TF (GBPJPY).

As you may know the end of the daily in that platform doesn't match to the end of the NY session (like in fxpro).

Do you tend to look at that issue or you wouldn't mind to trade it since the location is great (PPZ+BRN).

In a real account i wouldn't had played it no matter what cause of it's size, but i'm just curious to know what do you guys think.

thx,
Yaniv
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  • #63,349
  • May 11, 2010 3:19am May 11, 2010 3:19am
Quoting cprao
On H4, CADJPY, PB is forming.. 10 min to go..
My CADJPY got triggered. Problem areas are 91 minor, 91.5, 92 minor. Lets see how it runs.
The nail that sticks out gets hammered back in
  • #63,350
  • May 11, 2010 3:21am May 11, 2010 3:21am
This influences the way I speculate quite abit and I apply Jame's principles using an understanding along these lines.

Just an fyi for whomever is interested.

Joelcf?
Attached File(s)
File Type: pdf Greece's_impact_on_Asia_and_the_Middle_East__10_05_10_03_55.pdf   464 KB | 702 downloads
One Mind, Any Market
  • #63,351
  • May 11, 2010 3:53am May 11, 2010 3:53am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
How much time have you spent looking for A+ setups on the daily and weekly Ertorque?

How much time have you spent trying to be super super conservative?

How much time have you spent trying to be an mbqb11?

I have repeatedly mentioned in my posts that the "IPB" is an advanced concept. It ain't any license for more free money. If you don't get that straight you're in for a horrible awakening...

An IPB just like any other PA bar is only an "excuse" to enter the market, what's important...a lot more important is the big picture.

We've heard it over and over such that it's almost become a cliche here at the thread that "location is important", ever wondered exactly why is that so?

The approach needs to divert from desperate eye balls stalking the charts day in and day out looking for a PA bar to a more sensible one where you try and get behind the bars in the background and look at the bigger picture - that which is marked by the swings in the market and the general order flow.


------******------

The bar you pointed out was like a man standing dead in the middle of a railway line with an outstretched hand facing a train headed straight for this man. Now if you aren't a Hancock (which you most probably aren't) what chance do you have of stopping this huge mass of metal and steel momentum coming your way?

Don't believe me? Pick any pair any time frame you want and look for those big bars that leave a HUGE and I mean HUGE wick at one end (may or may not be pin bars). Note how many of these bars trigger moves in the market that change the trend.

You'll easily reply with a "None" to the question of blocking a full speed train coming your way with just your hands yet you'll eagerly go for the bar which looks like an IPB only much much smaller than an ideal one and hope your butt off that your 30 pip stop won't be taken out?

Clearly you just touch traded the 1.5, the markets don't care whether you know this or not, but you should.

Like most seniors here have suggested, mastery of the core J16 basics is essential before you start wandering off looking for more ways to make money. I have been trading IPBs successfully for the past six months now, not that I haven't had a loss but that I have worked hard to divulge their dynamics in a way that would benefit me in my trading pursuit.

---***---

I have had a couple of private messages from ppl who've recently joined the J16 family, they wanted to know more abt the IPB, but were sensible enough to understand that being an advanced concept it wasn't meant for them - yet. I was flat out amazed with the sincerity with which they are approaching this business.

For most of you new heads out there, you've got to master the basics first!

g.
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I believe . . .
  • #63,352
  • May 11, 2010 3:57am May 11, 2010 3:57am
Quoting Steve0001
I have become a doubter as to whether IPBs should be trusted to indicate the likelihood of the opposite price action of regular PBs. Nearly every IPB I have seen recently has failed to deliver. But maybe most of those have been flawed in some way (bad location, etc.). One idea as to why some of them might work (just something I am pondering) is that sometimes the data can be re-aggregated to show a different PB in the opposite direction (and maybe those could be more trustworthy?). I still watch them with interest whenever I see them and I still...
no data can be correctly re-aggregated to make a bearish pin bar look like a bullish one.

The IPB isn't an "aggregation illusion" but when large enough and at good locations is a clear sign of change in market sentiment.

g.
I believe . . .
  • #63,353
  • May 11, 2010 4:02am May 11, 2010 4:02am
Quoting joelcf
I think you need to have a look at what that bar is telling you before mashing the short button.

(ignore the crap on my chart)
Attachment

You have a strong uptrend, which means you are going to want a pretty damn good bar to setup a fade here.

And then, at the top, we have a small pause bar (open and close are almost the same, so there was no net movement) and it closed near the TOP of its range. Which means, while it had bearish strength at some point, it closed with bullish pressure.

Nothing about that really...
Great post Joel, I knew I could count on guys like you.

Apologies for lack of attention to the thread guys, this month continues to suck my blood,

g.
I believe . . .
  • #63,354
  • May 11, 2010 4:06am May 11, 2010 4:06am
Quoting cprao
based on Ghous definition an IPB is -
[/color][/font][/color]

1) EURUSD has a bullish pin bar (not very exactly since the head is not closed with in the body of the previous candle)

2. At swing low

3. However the pair is not in uptrend.. neither it is a pullback for the uptrend.

[color=darkgreen][font=Verdana][color=#000000]BUT.. if...
You got me lost Cprao,

Are you referring to the 48 hour bullish pin bar or one that looks like a bearish Pin bar??
I believe . . .
  • #63,355
  • May 11, 2010 4:12am May 11, 2010 4:12am
Quoting joelcf
'ipb' is the new 'touch trading'
I believe . . .
  • #63,356
  • May 11, 2010 4:15am May 11, 2010 4:15am
Quoting triger88990
LOL

rac is already history ,the time for ghous has arisen.
Unless I die I am going nowhere.

You might see me disappear for a while here and there, but I can't leave my family for any reason

Rac'll be back too I am sure...

g.
I believe . . .
  • #63,357
  • May 11, 2010 4:18am May 11, 2010 4:18am
Quoting ghous
Yes IPB's have to go.




*lol Just kidding.*
  • #63,358
  • May 11, 2010 4:20am May 11, 2010 4:20am
Quoting cprao
Thank you. I read this post.. Probably I need to read it again and again..

I plan not to run before I know how to crawl.. but I kind of exicted when I saw this setup and the recent posts were about IPB..

Anyways.. all these are part of learning.. Thank you for your insight, though..
Don't let this crowd out your learning process Cprao,

contact me via pm with any specific questions and we'll personally handle your concerns.

g.
I believe . . .
  • #63,359
  • May 11, 2010 4:23am May 11, 2010 4:23am
Quoting joelcf
I'm Australian - it is about all we take an interest in After England did you a favour, we could have a bit of an intraforum grudge match coming up...

-----------
Aussie should behave interestingly tonight. Dont think the market really trusts labor that much at the moment to not try and dig us deeper into debt, so a modest budget could see a nice move. Or, if money gets thrown around like every other time... look out below.

Now, how about them pinbars?
I guess we're up against you guys in the semis eh? Watch out, we just got our spark Back Joel

g.
I believe . . .
  • #63,360
  • May 11, 2010 4:26am May 11, 2010 4:26am
Quoting joelcf
I'm Australian - it is about all we take an interest in After England did you a favour, we could have a bit of an intraforum grudge match coming up...
When i heard KP was not in the game i thought ok they are kicking us out.lol,..but indeed they did played well.

Well i am not sure but if we could get your openers out cheap, we may have a little chance.

Don't you think Aussies have hit the top to early in the tournament what about a "Reversion To Mean".
.
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