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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

  • #66,081
  • Jun 11, 2010 10:33pm Jun 11, 2010 10:33pm
longer timerframe less mmpact.
  • #66,082
  • Jun 11, 2010 10:43pm Jun 11, 2010 10:43pm
how much impact do you see with a montly chart? a minute chart?
  • #66,083
  • Jun 11, 2010 11:18pm Jun 11, 2010 11:18pm
Quoting ghous
Chart.

(PA in the gray boxes shows how the PA bar "should" have looked like)
Thanks for clearing it up Ghous. What you've drawn are really clear-cut and obvious PA but what about some little PBs at extreme points that actually reversed trends? Some of this little PBs can be found even at the beginning of major trends. I'm not on a computer with MT4 right now but those little PBs can be found in some charts. Were they not meant to be traded or is there a way to interpret them when there is no obvious PA around? What attracted me to little PBs is actually the low risk entry because a full bar loss is less hurting than a PB with a loooong wick's full bar loss.
  • #66,084
  • Jun 11, 2010 11:33pm Jun 11, 2010 11:33pm
Quoting six gun
This is not a typical question for this thread but it is an interesting area (to me anyway)

Often I see price forming arches - take spot silver, the 4H chart for palladium PAU0.sb - yes palladium.

These aren't the first I've come across.
This topic may be cover elsewhere.
Technical analysis of the sort I am aware of does not fit but these surely must represent an opportunity if a method is available/can be devised.
Yes you too can successfully trade palladium!

I see that when price has reached the top of an arch it consolidates and "grows hair"...
Me likes it!

I abso-flogging-lutely love it when people talk about price like Six gun here.



g.
I believe . . .
  • #66,085
  • Jun 11, 2010 11:53pm Jun 11, 2010 11:53pm
Quoting fxeturn
Thanks for clearing it up Ghous. What you've drawn are really clear-cut and obvious PA but what about some little PBs at extreme points that actually reversed trends? Some of this little PBs can be found even at the beginning of major trends. I'm not on a computer with MT4 right now but those little PBs can be found in some charts. Were they not meant to be traded or is there a way to interpret them when there is no obvious PA around? What attracted me to little PBs is actually the low risk entry because a full bar loss is less hurting than a PB...
When little Pbs reverse trends they I bet are always located at a brilliant location.

Let me go over this a bit.

A j16 setup for us constitutes 2 elements.

1) PA Bar (shape etc)

2) Location (space, confluence etc)

Can a PA bar with full marks to it still create a move if the location department is inadequate? yes it can.

Can a good location with full marks to it still make a move if the bar department is inadequate? yes it can. hell that's what jarroo does day in and day out. Rac-man trades only off a good location...take that.

Can a PA bar with good marks to it still create a move if the location department is also strong enough. SURE it can!

Do you see the difference between the first 2 and the third situation?

What should interest a person new at this is that the 3rd situation is often the easiest to spot, enter into and manage well. With experience and enough chart time you are guaranteed to reach a point where you can then attempt a "shoddy" setup and not loose. Until that time you must feed your confidence and skill with the moves you are absolutely certain you will not loose on, at your stage this can only be true with the third situation.

Don't worry about a wide stop vs a smaller one. At this stage there's something more important than making money, it's learning. And it is that much important for making money in the long term.

g.
I believe . . .
  • #66,086
  • Jun 12, 2010 12:28am Jun 12, 2010 12:28am
Quoting ghous
When little Pbs reverse trends they I bet are always located at a brilliant location.

Let me go over this a bit.

A j16 setup for us constitutes 2 elements.

1) PA Bar (shape etc)

2) Location (space, confluence etc)

Can a PA bar with full marks to it still create a move if the location department is inadequate? yes it can.

Can a good location with full marks to it still make a move if the bar department is inadequate? yes it can. hell that's what jarroo does day in and day out. Rac-man trades only off a good location...take that.

Can...
This post of yours really solved all my questions in head at the moment, simply amazing. I'll stick with the third situation until I naturally blend into the first and second over time. Sorry to have interrupted your weekend, thanks for the advice and have a great weekend!
  • #66,087
  • Jun 12, 2010 1:26am Jun 12, 2010 1:26am
Quoting ghous
When little Pbs reverse trends they I bet are always located at a brilliant location.

Let me go over this a bit.

A j16 setup for us constitutes 2 elements.

1) PA Bar (shape etc)

2) Location (space, confluence etc)

Can a PA bar with full marks to it still create a move if the location department is inadequate? yes it can.

Can a good location with full marks to it still make a move if the bar department is inadequate? yes it can. hell that's what jarroo does day in and day out. Rac-man trades only off a good location...take that.

Can...

I'll take the third one Ghous.

I hear you though, I sometimes see no PA in the bars at a great location and the move can be enormous or it can be a fake out and take us out.
  • #66,088
  • Jun 12, 2010 1:41am Jun 12, 2010 1:41am
Any thoughts on this weekly pinbar guys? Is it too small?

http://i.imgur.com/j1LzK.gif
Price is beautiful. A repetitive method is a competitive method.
  • #66,089
  • Edited 2:12am Jun 12, 2010 1:58am | Edited 2:12am
Just noticed raczekfx post and remembered Jarroo's many references to this person. Like, "That would be Rac setup" or something like that.

Anyway, it is Saturday so I am allowing my imagination to amble a little more.

I noticed this post by raczekfx way back in 2005 (the black chart), With a GBP/USD short on 2005 Nov 03.

http://www.forexfactory.com/showpost...&postcount=476


This intrigues me a little as, I have read somewhere that the SL on a PA setup can be set at the 61.8 of the PA bar.

From the looks of this setup that Rackezfx took, it almost looks like he is using the 61.8 of the PA setup in reverse to catch price Going South on us and jump on board in the other direction to the PA setup.

I imagine this is much more complicated than this but wonder if this is basically what is going on. I mean, a Bullish PB at a swing high is not what we are looking for but can this also kind of fake out setup also be used in this manner to take the other route?


EDIT! Not that I am going to start looking for these types of setups, I am just going to put it in a back drawer in my mind for future reference.
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  • #66,090
  • Jun 12, 2010 3:08am Jun 12, 2010 3:08am
Quoting nwo-trader
Any thoughts on this weekly pinbar guys? Is it too small?

http://i.imgur.com/j1LzK.gif
Firstly yes it is way too small, even if you don't bother comparing it with the entire move down, consider comparing it with the last 2 bearish bars only.

Such bars seem to appear at a potential swing low, and obviously price can't give off a bar like that over a period of 5 trading days without a ppz or a round number so often ppl will just throw in a round number/ppz and then considering it a swing low pin bar with huge space, they find it easy for them to pull the trigger.

I have said it before and I am going to say it again, the general flow of momentum is equally important.

If a 3 year trend has to reverse it has to be off a bar that comes in 3 years.

g.
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I believe . . .
  • #66,091
  • Jun 12, 2010 3:36am Jun 12, 2010 3:36am
Quoting Dan-FX
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?

Thanks and have a good weekend
As well as leaving your TLs that have multiple touches try connecting the last two obvious swing high point as soon as they have happened to make a fresh line. Its the third touch that usually gets the reaction we want and then i personaly wait to see if it holds up on the next approach to see if it is worth keeping on my chart. see the chart for an example of how i plot them...
Also its worth noting that when they line up with an MA or other confluencing areas/factors they will be more chance of a good reaction. The good thing about TLs is that they keep you trading the trend and therefore make things that bit easier.

hope this helps

jon
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PATIENCE... DISCIPLINE
  • #66,092
  • Jun 12, 2010 3:39am Jun 12, 2010 3:39am
Quoting ghous
I can't believe I googled that!

gotta laugh old buddy!!
btw some great posts recently bro

Quote
Hookers for everyone! . . wait . .that may not be appropriate.

...well if your offering Jarroo....im single!!.... lol

jon
PATIENCE... DISCIPLINE
  • #66,093
  • Jun 12, 2010 3:52am Jun 12, 2010 3:52am
Quoting g_j_hook@yah

gotta laugh old buddy!!
btw some great posts recently bro



...well if your offering Jarroo....im single!!.... lol

jon

I could always become single if given the chance.
  • #66,094
  • Jun 12, 2010 4:05am Jun 12, 2010 4:05am
Quoting ghous
If a 3 year trend has to reverse it has to be off a bar that comes in 3 years.
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  • #66,095
  • Jun 12, 2010 4:40am Jun 12, 2010 4:40am
Quoting fxeturn
Attachment
...

With Eur/Chf you never know...
I believe . . .
  • #66,096
  • Jun 12, 2010 4:57am Jun 12, 2010 4:57am
Hi all, been a while since posting, actually got a day job so kind of busy. Said it before an I will say it again, Best thread on the net!! Well done to all and I was well helped a lot here.

Ok, I have an ouside bar on EG, off 8200. Was thinking of taking it long if it retraces to around 8280, manage it tightly because some daily bar highs to the left of it. If it clears them looks good to 8400.

Against strong trend thought but this bar size looks good? Made 55 pips based on 4H entry yesterday.

Apologies for no chart but I cant remember how to??? Its ok I will sort out and post with charts next time!

Many thanks to all in advance (I dont think I have ever posted and not gotten a response).
  • #66,097
  • Jun 12, 2010 5:32am Jun 12, 2010 5:32am
Quoting Grousman
Hi all, been a while since posting, actually got a day job so kind of busy....
i like this one a little also, not the best situation with it coming at the end of a ranging market but the dbl bottom looks good.Couple that with a weak looking GB and it could be a quick trade.(with tight Jarroo type MM )
i would like to see it break with some momentum though through the first area i marked on the chart with my first TA at .8400, mabye even close it all there if it reaches..? We have div which shows up clearly on the 4h TF which targets around 8400 also.

jon
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PATIENCE... DISCIPLINE
  • #66,098
  • Jun 12, 2010 5:35am Jun 12, 2010 5:35am
Quoting Pinbar
I could always become single if given the chance.
lol...just dont tell the missus you said that!! lol

jon
PATIENCE... DISCIPLINE
  • #66,099
  • Edited 11:20am Jun 12, 2010 6:14am | Edited 11:20am
Quoting Grousman
Hi all, been a while since posting, actually got a day job so kind of busy....

Ive got my eyes on this. Entry at 0.8280 region.
  • #66,100
  • Jun 12, 2010 7:45am Jun 12, 2010 7:45am
Quoting james16
This is why this thread is what it is.

BECAUSE OF PEOPLE LIKE THIS.

ghous gets it. ghous understands what goes out comes back.

ghous is just one of many here that "gets it" and its why im proud of what this thread has become.

the trading is secondary.

5 year birthday coming up on the 17th.

unreal.

Jim
the 17th is my birthday too . I already feel so honored being born on the same day, it will be a double party for sure.

I wish I could spend more time on this thread and to be more active but my day job it keeps me busy.

But i always check what the old fellas are doing.

wish you all the best guys!!!!
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