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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

  • #65,481
  • Jun 3, 2010 6:18pm Jun 3, 2010 6:18pm
Quoting mbqb11
Aaron 37 is doing wonders for your wisdom
If only it did the same for my hairline...
  • #65,482
  • Edited 8:03pm Jun 3, 2010 7:51pm | Edited 8:03pm
As always, amazing stuff Aaron. You have a way of articulating deep thoughts and complex concepts in a simple, straightforward and honest way that most of us could never dream of matching.

And we get it for free.

Quoting TiaForex
Because the road to hell is littered with people who thought they were "giving it everything" by trading 8 hours a day on the 15M charts without doing any research, having any discipline, or following any suggestions.
I'm glad you said that. It always spins me around when people say they spent 16 hours a day straight for a month 'studying charts'... yet they still lose. You are either exagerating, inefficient or just not cut out for trading.

Or a combination thereof.

It's like me spending 20 hours a day for the next fortnight reading chinese circuit diagrams. I can stare at them as much as I want, but I sure as hell aint building an ipad at the end of it.
When you have to shoot, shoot. Dont talk.
  • #65,483
  • Edited 8:30pm Jun 3, 2010 8:13pm | Edited 8:30pm
Quoting jarroo
Your home work assignment Pb is to review your demo order as it related to the James16's "This is Critical."

Would you have done something different? Did it help in any way?...

Morning Jarroo

Yes, well eh

I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.

This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
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  • #65,484
  • Jun 3, 2010 8:18pm Jun 3, 2010 8:18pm
Quoting joelcf
As always, amazing stuff Aaron. You have a way of articulating deep thoughts and complex concepts in a simple, straightforward and honest way that most of us could never dream of matching.

And we get it for free.



I'm glad you said that. It always spins me around when people say they spent 16 hours a day straight for a month 'studying charts'... yet they still lose. You are either exagerating, inefficient or just not cut out for trading.

Or a combination thereof.

It's like me spending 20 hours a day for the next fortnight reading...



Yeah , Joel.....Tell me about it....I have done that for the last two years.Combined with trading every M5 & m15 system I could find, while delving into my indicator box with over 1,000 indicators in it.

Nah, this indicator is not the holy grail, but maybe number 997 is, no, well they might work with another system.

And just look at the trade I made above.
  • #65,485
  • Jun 3, 2010 8:28pm Jun 3, 2010 8:28pm
Hi,

I just wanted to say Hi, and thanks to Jim and the rest of the people here. I've been following the thread for a while after discovering it from the sticky in the Rookie Discussion forum, been through the guest material on the james16 group site, and attempting to apply it to my charts.

I'm still trying to find my feet, haven't figured some things such as position sizing properly yet, but I'm slightly over break even since starting to follow this (in demo of course ) thanks to James' no nonsense approach to demonstrating horizontal support and resistance lines in his videos.

I'm usually a lurker, but this thread is solid gold, and everyone is so damn helpful, I'm sure taking part will help my trading no end.

Thanks all!
  • #65,486
  • Jun 3, 2010 8:42pm Jun 3, 2010 8:42pm
Quoting Pinbar
Yeah , Joel.....Tell me about it....I have done that for the last two years.Combined with trading every M5 & m15 system I could find, while delving into my indicator box with over 1,000 indicators in it.

Nah, this indicator is not the holy grail, but maybe number 997 is, no, well they might work with another system.
Clearly, the holy grail is to build a system which combines indicators 4, 8, 15, 16, 23 and 42
When you have to shoot, shoot. Dont talk.
  • #65,487
  • Jun 3, 2010 9:33pm Jun 3, 2010 9:33pm
Quoting joelcf
Clearly, the holy grail is to build a system which combines indicators 4, 8, 15, 16, 23 and 42
Gotta fly to Australia to find it, or Hawaii?
  • #65,488
  • Jun 3, 2010 9:36pm Jun 3, 2010 9:36pm
Quoting Pinbar
Morning Jarroo

Yes, well eh

I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.

This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
I notice you seem to have a lot less spaghetti blocking the view of your charts compared to a couple days ago. Is the improvement intentional?
  • #65,489
  • Jun 3, 2010 9:41pm Jun 3, 2010 9:41pm
Quoting EasySt
I notice you seem to have a lot less spaghetti blocking the view of your charts compared to a couple days ago. Is the improvement intentional?

It just makes it easier to see the charts.

Not that it prevents me from making Kamikaze trades, though.
  • #65,490
  • Edited 10:32pm Jun 3, 2010 9:56pm | Edited 10:32pm
Quoting jeurre
cool,

is it because of the big BUB bar that determines the bullish sentiment here, bro?

jeurre
Yes and no. Its the BUB, yes, but the BUB is part of the PA setup . .the Weekly PB. Its not just a random bar at a PPZ level. Its preferably a high quality PA setup Bar that closes above the PPZ or strong confluenced level. Meaning, it would have be better it the Weekly PB's Close was above the PPZ level, .6800.

Notice the Daily IB was a stand alone setup that closed above the .6800.

Its was to illustrate that a PA setup is given supportive strength when the bar Close is above the PPZ level. Its not a trade breaker if it doesn't close above/below but it is preferred.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,491
  • Jun 3, 2010 9:59pm Jun 3, 2010 9:59pm
already talked about one of my fav setups this week, could we see another one of them. The squeeze

I'll be watching and waiting like usual


Mike
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  • #65,492
  • Edited Jun 4, 2010 12:06am Jun 3, 2010 10:12pm | Edited Jun 4, 2010 12:06am
Quoting Pinbar
Morning Jarroo

Yes, well eh

I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.

This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
So the James16 "This is Critical" #4, kept you out of the trade. That's good right?

What about the other choices? How would they play out?

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
Indicators show the past. Price Action "Indicates" the future.
  • #65,493
  • Jun 3, 2010 10:17pm Jun 3, 2010 10:17pm
Quoting jarroo
So the James16 "This is Critical"...

Well, apart from the BOLD type, I already figured that it would have been better to trade this a breakout at or around the 0.7000.


Will get to the other choices, when I get back.
  • #65,494
  • Jun 3, 2010 10:21pm Jun 3, 2010 10:21pm
Quoting Pinbar
Well, apart from the BOLD type, I already figured that it would have been better to trade this a breakout at or around the 0.7000.


Will get to the other choices, when I get back.

Cool Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #65,495
  • Jun 3, 2010 10:23pm Jun 3, 2010 10:23pm
Quoting cheeseweasel
Hi,

I just wanted to say Hi, and thanks to Jim and the rest of the people here. I've been following the thread for a while after discovering it from the sticky in the Rookie Discussion forum, been through the guest material on the james16 group site, and attempting to apply it to my charts.

I'm still trying to find my feet, haven't figured some things such as position sizing properly yet, but I'm slightly over break even since starting to follow this (in demo of course ) thanks to James' no nonsense approach to demonstrating horizontal support...

Welcome cheeseweasel. I don't think I've seen that user name before. lol
Indicators show the past. Price Action "Indicates" the future.
  • #65,496
  • Jun 3, 2010 10:29pm Jun 3, 2010 10:29pm
Quoting joelcf
Clearly, the holy grail is to build a system which combines indicators 4, 8, 15, 16, 23 and 42
I though it was 0, 1, 1, 2, 3, 5, 8, 13, 21, 34 . oh wait a mintue . . . . that's Lost. lol
Indicators show the past. Price Action "Indicates" the future.
  • #65,497
  • Jun 3, 2010 11:22pm Jun 3, 2010 11:22pm
nice multiple bar analysis, eye openning, great job

Quoting jarroo
Yes and no. Its the BUB, yes, but the BUB is part of the PA setup . .the Weekly PB. Its not just a random bar at a PPZ level. Its preferably a high quality PA setup Bar that closes above the PPZ or strong confluenced level. Meaning, it would have be better it the Weekly PB's Close was above the PPZ level, .6800.

Notice the Daily IB was a stand alone setup that closed above the .6800.

Its was to illustrate that a PA setup is given supportive strength when the bar Close is above the PPZ level. Its not a trade breaker if it doesn't close above/below...
  • #65,498
  • Jun 3, 2010 11:34pm Jun 3, 2010 11:34pm
Quoting jeurre
nice multiple bar analysis, eye openning, great job
Thanks jeurre.

It is interesting to look at non-PA setup bars that closes above/below a given PPZ level and/or BRN.
Example, Price breaks through a level then breaks through it again . . and then take an entry at the High(or Low) of the bar that closed above (or below) that level.

If I'm making sense.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,499
  • Jun 4, 2010 12:05am Jun 4, 2010 12:05am
Quoting mbqb11
already talked about one of my fav setups this week, could we see another one of them. The squeeze

I'll be watching and waiting like usual


Mike
Hi Mike, iv got my eye on this also, i was hoping you could give me your view on the 4h IBs that we have..??

cheers

jon
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PATIENCE... DISCIPLINE
  • #65,500
  • Jun 4, 2010 12:29am Jun 4, 2010 12:29am
more than making sense, jarroo, as long as jarroo says it, i take it as part of my bible, serious ! coz it makes money, period, paragraph

how much weight this style plays in your recent tradings? i guess it is situational depandent ? or would you mostly follow through this approach in future? thanks

jeurre

Quoting jarroo
Thanks jeurre.

It is interesting to look at non-PA setup bars that closes above/below a given PPZ level and/or BRN.
Example, Price breaks through a level then breaks through it again . . and then take an entry at the High(or Low) of the bar that closed above (or below) that level.

If I'm making sense.
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