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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

  • #67,221
  • Jun 24, 2010 8:06am Jun 24, 2010 8:06am
Just wondering the process some of you might use for watching for trades. For example, if you are watching 20 pairs on 3 or 4 timeframes, how do you go about it?

Do you go through all the pairs marking in PPZ's and looking for confluence areas before a good PA bar appears, or do you wait for the good PA bar, then look for confluence etc. in that area?

At the moment I am marking only the weekly, daily, H8 PPZ's. I only look for areas of confluence once a PA bar appears. Is this how some of you are doing it?

Grant
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #67,222
  • Jun 24, 2010 8:14am Jun 24, 2010 8:14am
Jarroo, Jim16 & mbqb11,
what a response! Lovely charts, especially the one with 4 scenarios by Jarroo - these went straight into my 'examples' folder. Thanks guys.
If you don't risk, you don't ever have to lose.
  • #67,223
  • Jun 24, 2010 8:14am Jun 24, 2010 8:14am
Quoting mordre
Hello to everybody and might I say, what a thread!
This is my first post on FF. Been studying james method for a while and Decided to post my first chart (not my first trade using this method).
Please be as harsh as you can, I whant some though feedback.
The SL is below the 61% of the pinbar.
The chart is EURCAD 4H.
Sixgun gave a great feedback already, but we (at least many of us) prefer those bullish pinbars at swing low.

Great looking area for minor trend continuation, but i would pass this one. These scenarios tend to have too much problems at first trouble area.. Breakout may be better strategy for these kind of situations. Trading straight to the highs rarely plays well for me at least

I start making my posts better now by adding these things always to the end

Happy trading!
Nuc
  • #67,224
  • Jun 24, 2010 8:18am Jun 24, 2010 8:18am
Quoting gc7
Just wondering the process some of you might use for watching for trades. For example, if you are watching 20 pairs on 3 or 4 timeframes, how do you go about it?

Do you go through all the pairs marking in PPZ's and looking for confluence areas before a good PA bar appears, or do you wait for the good PA bar, then look for confluence etc. in that area?

At the moment I am marking only the weekly, daily, H8 PPZ's. I only look for areas of confluence once a PA bar appears. Is this how some of you are doing it?

Grant
Hey Grant

I personally do both. I have areas marked that I find important to watch, but I am also flexibile enough to know when a good bar shows up and then to analyze the situation. I would go with whatever feels comfortable. Not having pre-marked areas is a bit more advanced as people just tend to find any reason to enter when they see most bars.

Best
Mike
  • #67,225
  • Jun 24, 2010 8:31am Jun 24, 2010 8:31am
Quoting Javi
Hello, I do not speak good English, I'm from Spain but I will try to speak it.
First I must say that the forum is great, I am newbie and I learned a lot of with James16 thanks very much

I have a chart to GBP/USD here that according to the Price action did not work and i don´t know. why?.if someone could explain me.this is the chart.

Thanks.
Javier
I am sat in Spain right now - near Torrevieja.
I am on holiday
Can you explain exactly what it is you see in the chart.
Perhaps I am missing something but I do not see anything I would trade inside your box.
  • #67,226
  • Jun 24, 2010 8:33am Jun 24, 2010 8:33am
Quoting mbqb11
Hey Grant

I personally do both. I have areas marked that I find important to watch, but I am also flexibile enough to know when a good bar shows up and then to analyze the situation. I would go with whatever feels comfortable. Not having pre-marked areas is a bit more advanced as people just tend to find any reason to enter when they see most bars.

Best
Mike
Thanks Mike, good to know their is some flexibility there.
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #67,227
  • Jun 24, 2010 8:34am Jun 24, 2010 8:34am
Quoting Javi
Hello, I do not speak good English, I'm from Spain but I will try to speak it.
First I must say that the forum is great, I am newbie and I learned a lot of with James16 thanks very much

I have a chart to GBP/USD here that according to the Price action did not work and i don´t know. why?.if someone could explain me.this is the chart.

Thanks.
Hey Javi

Welcome your English is fine

This one did do exactly what we thought. It was a small beob that did not have a lot of space. It went to 1.4700 round number and bounced.

http://www.forexfactory.com/showthre...40#post3821940

Hope this helps

Mike
  • #67,228
  • Jun 24, 2010 8:37am Jun 24, 2010 8:37am
Quoting six gun
EUR/CAD is a big time down trend so this move is counter trend.
Obviously anyone can trade any time frame they please. The recommended TF is daily/weekly for starters but you might be more experienced.

The pin bar wick comes off the 150 ema.
I had shorts on this pair but a week or so ago I felt uneasy about the trend. It was gut reaction not necessarily logical. It has gone up since.
CAD is depreciating against the USD at the moment after looking like it would make a run for parity.
The candle after this pb is sat on 1.28 - Round number.
There...
Ty for replying. Well it's up to 1.2845 now, i'm BE so I'l just see what happens. My TP is at 1.2870 since there is a major resistance area there on the daily.
  • #67,229
  • Jun 24, 2010 8:38am Jun 24, 2010 8:38am
Quoting nuclear62
Sixgun gave a great feedback already, but we (at least many of us) prefer those bullish pinbars at swing low.

Great looking area for minor trend continuation, but i would pass this one. These scenarios tend to have too much problems at first trouble area.. Breakout may be better strategy for these kind of situations. Trading straight to the highs rarely plays well for me at least

I start making my posts better now by adding these things always to the end

Happy trading!
Nuc
Yes - that is preferable!
I see price is heading north.
I often see in trends - this is already a bullish trend of 300 pips, there are candles in it with long lower wicks.
I have seen them as continuation candles - price thought about going down but there wasn't the bearish strength to turn the trend and the trend continued.
I have been slightly confused in that by ghous' IPB, but nevertheless the long lower wick in a bullish trend is a common feature.
The candle after this "pinbar" got itself about 1.28 but further upward movement would have to get past 1.2833.

Having said all this, for a de novo move, you would DEFO want a pin at a swing low.
  • #67,230
  • Jun 24, 2010 8:42am Jun 24, 2010 8:42am
Quoting Javi
Hello, I do not speak good English, I'm from Spain but I will try to speak it.
First I must say that the forum is great, I am newbie and I learned a lot of with James16 thanks very much

I have a chart to GBP/USD here that according to the Price action did not work and i don´t know. why?.if someone could explain me.this is the chart.

Thanks.
What you should have been ready for is the first trouble area that was VERY close to the entry of your trade.

And it was a STRONG trouble area too.

It could have worked out for you , but when you take entries that are that close to the first trouble area, you are making it a little harder on your self.

Keep at it. You will see things like this as you gain experience.
Attached Image (click to enlarge)
Click to Enlarge Name: DIBUJO bundy.jpg Size: 80 KB
Bundy's status today: "Waiting..."
  • #67,231
  • Jun 24, 2010 8:43am Jun 24, 2010 8:43am
Quoting mbqb11
Hey Javi

Welcome your English is fine

This one did do exactly what we thought. It was a small beob that did not have a lot of space. It went to 1.4700 round number and bounced.

http://www.forexfactory.com/showthre...40#post3821940

Hope this helps

Mike
...Gotta be quick to beat Michael. lol
Bundy's status today: "Waiting..."
  • #67,232
  • Jun 24, 2010 8:43am Jun 24, 2010 8:43am
Quoting mbqb11
Hey Javi

Welcome your English is fine

This one did do exactly what we thought. It was a small beob that did not have a lot of space. It went to 1.4700 round number and bounced.

http://www.forexfactory.com/showthre...40#post3821940

Hope this helps

Mike
I think this is one that Niall Fuller calls a "Fakey" - it break up or down, then runs off in the opposite direction turning over all the traders who went with the break.
  • #67,233
  • Jun 24, 2010 9:46am Jun 24, 2010 9:46am
i am thinking about selling gbp usd ,there is a slight MACD divergence and we are at 1.5000 a big round number .any thoughts or sugestions?
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  • #67,234
  • Jun 24, 2010 10:20am Jun 24, 2010 10:20am
I'm thinking EUNZD now to be reversal to 1.75 or 1.80
any suggestion for this currency, on the daily tf pa look like the strong reversal break daily TL, 4hr and 1hr positive divergence ???
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  • #67,235
  • Jun 24, 2010 10:37am Jun 24, 2010 10:37am
Quoting serb_manu
i am thinking about selling gbp usd ,there is a slight MACD divergence and we are at 1.5000 a big round number .any thoughts or sugestions?Attachment
Hello Serb_manu!

That is absolutely a great location; very big round number, slight divergence, also nearly fib 61.8 which is a bit above 1.5, nice! Let´s keep an eye on this one. Now let´s wait for a price action to tell us that is it worth risk or not

Have a great day!
Nuc
  • #67,236
  • Jun 24, 2010 11:01am Jun 24, 2010 11:01am
hello nuc ,i was thinking the same thing ( wait for a price action)
  • #67,237
  • Jun 24, 2010 11:02am Jun 24, 2010 11:02am
Quoting serb_manu
i am thinking about selling gbp usd ,there is a slight MACD divergence and we are at 1.5000 a big round number .any thoughts or sugestions?Attachment
Well, in terms of divergence - it could turn around very fast. BRN is a huge resistance to break through of (there's a fib there as well, of course), but the small divergence isn't much to talk about IMO. I prefer bigger divergence - have a look at USDCAD M30.
If you don't risk, you don't ever have to lose.
  • #67,238
  • Jun 24, 2010 11:07am Jun 24, 2010 11:07am
Quoting bug
Well, in terms of divergence - it could turn around very fast. BRN is a huge resistance to break through of (there's a fib there as well, of course), but the small divergence isn't much to talk about IMO. I prefer bigger divergence - have a look at USDCAD M30.
Here's a nice divergence. I took this trade due to div and pin bar at a swing high. Nothing fancy, just something to keep me on alert while the dailies and weeklies play out.
EDIT
Actually it's not even a pin - it's a doji.
Attached Image (click to enlarge)
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If you don't risk, you don't ever have to lose.
  • #67,239
  • Jun 24, 2010 11:14am Jun 24, 2010 11:14am
on usd cad i expected somethig from the double top and MACD divergence on h1
  • #67,240
  • Jun 24, 2010 11:19am Jun 24, 2010 11:19am
Quoting bug
Here's a nice divergence. I took this trade due to div and pin bar at a swing high. Nothing fancy, just something to keep me on alert while the dailies and weeklies play out.
EDIT
Actually it's not even a pin - it's a doji.
Quick question, would it be better to draw the divergence trend line for the higher highs on the price graph, from the top of the highs (at the swing highs), or just through the bars like you've done it?
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