james16 Chart Thread | Page 3257 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #65,121
  • May 30, 2010 11:06am May 30, 2010 11:06am
Quoting Pinbar
Thanks Ghous for your detailed description of your learning experience.

yes, the "Jump Out at You" description that Mike and other seniors continually mention is interesting.
Perhaps, physically and mentally zooming out on the larger TF is the way to accomplish this. It's funny sometimes I can clearly see a trade and take it, usually it is a reasonable trade. By reasonable, I mean I can take half off the table and get my SL to BE + and then take a few more pips out of it.
Other times, I find myself caught up in the noise, then I switch back...
Pinbar,

I ditched 4hr TF's a few months back. Have been a lot more succesful on the Daily TF. Nothing against Weekly TF, but I just stick to the Daily.

I will put my boots on ready to kick!

Glynn
"Fail to prepare, prepare to fail."
  • #65,122
  • May 30, 2010 11:16am May 30, 2010 11:16am
Quoting Pinbar
Thanks for your input phpscott.

Just looking at the Monthly we can see that it is almost a monthly DBHLC with only 1 day left of the trading month. Also, the eye of the weekly PB is almost 25 pips outside the close of the previous bar.

Possibly Jarroo only mentioned this W-PB as I think someone mentioned a short setup on a lower TF.

Many thanks.

For me, it is still a bit confusing as to if I am Bullish or Bearish looking at so many TF.
Possibly I am over complicating things and need to find a comfortable method of analyzing setups.

I will...

October's pin bar still has something to say?
  • #65,123
  • May 30, 2010 11:32am May 30, 2010 11:32am
Quoting packhorse
Pinbar,

I ditched 4hr TF's a few months back. Have been a lot more succesful on the Daily TF. Nothing against Weekly TF, but I just stick to the Daily.

I will put my boots on ready to kick!

Glynn

Thanks for the info.

Did you have trouble with H4?


Yeah, kick away if you see an H4 chart.

LOL
  • #65,124
  • May 30, 2010 11:41am May 30, 2010 11:41am
Quoting Pinbar
Thanks for the info.

Did you have trouble with H4?


Yeah, kick away if you see an H4 chart.

LOL
Yes, more unpredictable with H4 as there is less information in each bar. I used to have a lot less success compared to daily trades.

Another tip, if you are tempted to drop down into H4 or H1, delete these from your MT4 charts and just leave up daily and/or weekly/monthly.

G
"Fail to prepare, prepare to fail."
  • #65,125
  • May 30, 2010 11:47am May 30, 2010 11:47am
Quoting packhorse
Yes, more unpredictable with H4 as there is less information in each bar. I used to have a lot less success compared to daily trades.

Another tip, if you are tempted to drop down into H4 or H1, delete these from your MT4 charts and just leave up daily and/or weekly/monthly.

G

Now that is a good idea.

Sounds like you were just like me and addicted to dropping down to check PA on lower TF.
  • #65,126
  • May 30, 2010 11:48am May 30, 2010 11:48am
Quoting Pinbar
Now that is a good idea.

Sounds like you were just like me and addicted to dropping down to check PA on lower TF.
Spot on!

G
"Fail to prepare, prepare to fail."
  • #65,127
  • May 30, 2010 1:36pm May 30, 2010 1:36pm
Neither of them are PBs. The GBP/USD one does not have the open and close within the previous bar. The close of the USD/CHF one is in the middle of the bar. Even if the close would have been lower, the tail would have been very short. PBs have long tails.

Scott

Quoting antgal23
Hi folks

was planning on playing the gbp usd two bar weekly pb but it doesnt actually qualify as a pb

anyway, did my plan make sense, am i missing anything major?

also, i was planning on taking the weekly pb on the usd chf , , again, was my plan ok?

antgal23
  • #65,128
  • May 30, 2010 1:55pm May 30, 2010 1:55pm
Quoting Pinbar
Thanks Ghous for your detailed description of your learning experience.

yes, the "Jump Out at You" description that Mike and other seniors continually mention is interesting.
Perhaps, physically and mentally zooming out on the larger TF is the way to accomplish this. It's funny sometimes I can clearly see a trade and take it, usually it is a reasonable trade. By reasonable, I mean I can take half off the table and get my SL to BE + and then take a few more pips out of it.
Other times, I find myself caught up in the noise, then I switch back and...
Packhorse is right. Removing TFs other than the daily and the weekly is a step in the right direction.

Stick to the dailies/weeklies and wait patiently for the big fish. What this exercise does for you while you're getting your feet wet in the business is a favor I can't put in words...let's just say...it is imperative for long term success.

All time frames have their pros and cons and you must understand that when we emphasize on sticking to higher time frames it does not imply that lower time frames suck at following price action parameters. It's just that trade management decisions need to come from an experienced head when trading intra day simply because we're then dealing with bars that posses less information. For the person with the pre-requisites in the trading arsenal intra day is a true trading heaven.

Coming back to my point, here at the thread we are mostly dealing with ppl starting out in the business or those that have taken a spanking from their stern ego, or those that were searching for the magic potion amongst a heap of lagging indicators and realized finally that it never was there . We realize how important is it for such a person to get the hang of "discipline" if he or she wants to make it to the long term, and higher time frames teach that the best...and this is not an opinion...it's hard core fact

g.
I believe . . .
  • #65,129
  • May 30, 2010 3:57pm May 30, 2010 3:57pm
Hi guys, what do you guys think about making a trade decesion based on a friday bar (ofc there is the usual variables to consider too).

Do you guys trade friday daily bars?


Regards W.
  • #65,130
  • May 30, 2010 4:04pm May 30, 2010 4:04pm
Quoting Wakanapi
Hi guys, what do you guys think about making a trade decesion based on a friday bar (ofc there is the usual variables to consider too).

Do you guys trade friday daily bars?


Regards W.
I think most Sr. members do not trade the Friday bar as a general rule, naturally there can be an exception here or there. Trader Discretion is advised.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #65,131
  • May 30, 2010 4:54pm May 30, 2010 4:54pm
Quoting LasVahGoose
I think most Sr. members do not trade the Friday bar as a general rule, naturally there can be an exception here or there. Trader Discretion is advised.
They certainly tend to give us a lot of pullback based bars that can trick newcomers. I don't discount Friday bars myself though.

I think if you're careful with location and bar strength you can trade them like all the others.
Bundy's status today: "Waiting..."
  • #65,132
  • May 30, 2010 5:04pm May 30, 2010 5:04pm
Thanks .
  • #65,133
  • May 30, 2010 5:20pm May 30, 2010 5:20pm
Quoting LasVahGoose
Trader Discretion is advised.
this is true of everything. Nothing in J16 is cut and dry. Just keep studying. You will end up trading your own variations of this method, which is why this thread is so great.
Many choose unhappiness over uncertainty.
  • #65,134
  • May 30, 2010 8:20pm May 30, 2010 8:20pm
Quoting ghous

Ever wondered why Mike talks a lot about setups that "jump out at you", Setups that appear at BIG BOLD round numbers? and what about the emphasis on BIG bars.

Nothing's more soothing when all it takes you is a glance to hawk a money making opportunity,

g.




THis all comes back to keeping it simple! I know that sounds silly to say, but it goes a long way in trading.

Back and chipping away at my inbox slowly

Catching up on all your posts here too some good stuff

Mike
  • #65,135
  • May 30, 2010 9:06pm May 30, 2010 9:06pm
Guppy reaching all-time low PPZ in monthly TF.
Attached Image (click to enlarge)
Click to Enlarge Name: 0531gym.gif Size: 26 KB


IB on BRN in weekly TF,
Attached Image (click to enlarge)
Click to Enlarge Name: 0531gyw.gif Size: 22 KB


IB and DBLHC at swing low with decent bar size in daily TF.
Attached Image (click to enlarge)
Click to Enlarge Name: 0531gyd.gif Size: 23 KB


Discounting the profit taking Friday bar, viable entry on northern break of DBLHC.

What does everyone else thinks about this?
  • #65,136
  • May 30, 2010 9:10pm May 30, 2010 9:10pm
Quoting ghous
Packhorse is right. Removing TFs other than the daily and the weekly is a step in the right direction.

Stick to the dailies/weeklies and wait patiently for the big fish. What this exercise does for you while you're getting your feet wet in the business is a favor I can't put in words...let's just say...it is imperative for long term success.

All time frames have their pros and cons and you must understand that when we emphasize on sticking to higher time frames it does not imply that lower time frames suck at following price action parameters....

Yes, I now know through personal experience that Everything that has been expressed by the senior members and indeed some wise not so senior members, is in fact the Read Deal.

To be perfectly honest, the very first post I came across about sticking to the weekly and daily, was blatant enough to make anyone stick to it.
Yet somewhere along the line, I decided I could not do this, maybe it is fear of large SLs and lack of confidence, such as well, I don't mind losing 20 or 30 pips but hey, an 80 pip SL is just unthinkable.

It seems our initial mind set sort of convinces us we are going to lose and thus we decide that losing a little is better than losing a lot, there again losing a little very often will in fact be a lot in the end. More trades taken, not only exposes our capital too often but we are also paying the spread more often and combine that with frequently losing trades with cutting the runners short and it reminds me of the Japanese saying, "If enough dust settles, it will become a mountain". Or rather, our losses will become a mountain of losses when we need to be building up our account slowly in the other direction.

Thanks Ghous, it took me a while to work out I was not able to outsmart the market, myself or indeed you guys.

I think I now understand the larger TF on a level, I previously did not.
  • #65,137
  • May 30, 2010 9:38pm May 30, 2010 9:38pm
Quoting Pinbar
Thanks for your input phpscott.

Just looking at the Monthly we can see that it is almost a monthly DBHLC with only 1 day left of the trading month. Also, the eye of the weekly PB is almost 25 pips outside the close of the previous bar.

Possibly Jarroo only mentioned this W-PB as I think someone mentioned a short setup on a lower TF.

Many thanks.

For me, it is still a bit confusing as to if I am Bullish or Bearish looking at so many TF.
Possibly I am over complicating things and need to find a comfortable method of analyzing setups.

I will...
Hey Pb.

The left eye is the previous bar low of the PB, in gold at the check mark on my chart. I like using fib levels as a confluencing tool, meaning if a fib level does not line up with a PPZ level or S/R level or BRN they just don't carry as much weight or strength by themselves.

phpscott analysis is spot on about the PB itself and the better locations that a PA setup we would like to see take place. But I do like this setup and plan on trading it if it breaks. Tight managment required for me on this one.

Just keep at it Pb and your setup analysis will get better and better. Keep veiwing and studying James16's charts and videos. I still do all the time.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdweeklyab.gif Size: 23 KB
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #65,138
  • May 30, 2010 9:44pm May 30, 2010 9:44pm
Quoting mrhb30jr
Dear Jaroo,

Thank you for advise and clarification, also your explanation of the second chart for this currency is very helpful & very much appreciated for me.

Cheer
Quoting novice198
Hi Jarroo,
Thanks for the detailed explanation which has clarified my doubts on this trade.

This seems to one thread where people don't sleep even if the FX market is closed.

Cheers,
Novice198
Your welcome guys I hope it helped.
Indicators show the past. Price Action "Indicates" the future.
  • #65,139
  • May 30, 2010 10:00pm May 30, 2010 10:00pm
Jim,
I know you know how to trade these B and C grade setups, however, most do not when they are in-experienced.

Scott

Quoting jarroo
Hey Pb.

The left eye is the previous bar low of the PB, in gold at the check mark on my chart. I like using fib levels as a confluencing tool, meaning if a fib level does not line up with a PPZ level or S/R level or BRN they just don't carry as much weight or strength by themselves.

phpscott analysis is spot on about the PB itself and the better locations that a PA setup we would like to see take place....
  • #65,140
  • May 30, 2010 10:07pm May 30, 2010 10:07pm
Quoting phpscott
Jim,
I know you know how to trade these B and C grade setups, however, most do not when they are in-experienced.

Scott
Point taken Scott. Its a good one to demo and learn from.
Indicators show the past. Price Action "Indicates" the future.
329 traders viewing now