james16 Chart Thread | Page 3365 | 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

  • #67,281
  • Jun 24, 2010 3:44pm Jun 24, 2010 3:44pm
Quoting Atc
Well it's comforting to know that others like Mike and Gids are taking FTA's.

I have in my memory from past experiences, and J16 vids that the "runners" are where you can make some big cash.
This post is a deeper but broad look into how I manage trades. I analyze every trade and decide how I should approach it which can often change during the trade. No two situations are completely alike, although some close.

http://www.forexfactory.com/showpost...ostcount=36491
  • #67,282
  • Jun 24, 2010 3:49pm Jun 24, 2010 3:49pm
the pinbar on nzd usd looks nice but the location sucks .any opinions?
Attached Image (click to enlarge)
Click to Enlarge Name: char.gif Size: 16 KB
  • #67,283
  • Jun 24, 2010 3:51pm Jun 24, 2010 3:51pm
Quoting Atc
Thanks Bug, Ghous, Jigsaw, and Mike...it appears that taking profits at the FTA is not a bad thing____ and Bug---I will have to demo your suggestion ---to compare the results.

Also, as one can figure, sometimes it is difficult to move my stop to BE when it moves my way and sometimes this is good because as you know the trade often needs room to breath. On the other hand, I am somewhat confused by J16 videos and what I have read in the many posts to get my stop to BE how and when and even if I am capable to do so troubles me.

Bill
I reckon what happens to literally every single person in this thread bar none is that they learn everything J16 and then incorporate the bits that work for them as traders.

There is loads of different ways to look at moving stops to BE. Possibly:

1) Price hits first FTA, stop to BE.

2) Price reaches 1/2R, 1R, 2R, move stops to BE then.

3) Never move stops to BE.

4) Have some sort of trailing stop.

After a while you will find out what works best for you, I never move stops to BE.

I have a 5Min PA system: I take profit when price reaches 5R, and if price reaches 4.9R and comes takes me out for ar loss I am more than happy to take it. It's just the type of trading that I like and suits me.

Backtesting and keeping a good spreadsheet of your trades helps lots with this.

jig.
  • #67,284
  • Jun 24, 2010 5:13pm Jun 24, 2010 5:13pm
Quoting jarroo
This is what we look for . .its an A+ setup, in my book.

I'll take these all day long.

Its a BEOB not a Pin Bar but it looks like one . . .I love that.

Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.

I like it aserbfx . . .to say the least. . . .

The A+ setup examples seem to be rare as of late but when they do appear then tend to really standout.

Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.


(What was the fundamentals on this again?)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dji30.gif Size: 23 KB
Click to Enlarge Name: djia30bb.gif Size: 24 KB
Click to Enlarge Name: djia30 cc.gif Size: 23 KB
Indicators show the past. Price Action "Indicates" the future.
  • #67,285
  • Edited 6:55pm Jun 24, 2010 5:32pm | Edited 6:55pm
Quoting forexben
Anyone know what the deal is with the euro at the moment? It hit a high of 1.2466 on June 22 and has ranged between the low of 1.2208 yesterday. None of the technicals (PPZ, PA, BRN's, fib levels) seem to be moving it anywhere.

Quoting Jigsaw
EU ? The PPZ's are moving it everywhere !

(I drew these lines at the start of the week, before any of this price occured)

Hey JIG !! Sup? Good to see you.


I have the same ones.


Hey forexben, if your going to go on the 4 Hour, I would suggest you first draw the PPZ levels from the Daily and Weekly. It makes it easier.

As Jig said, you could have drawn them last week.
Attached Image (click to enlarge)
Click to Enlarge Name: euu.gif Size: 21 KB
Indicators show the past. Price Action "Indicates" the future.
  • #67,286
  • Jun 24, 2010 5:57pm Jun 24, 2010 5:57pm
Quoting jarroo
The A+ setup examples seem to be rare as of late but when they do appear then tend to really standout.

Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.


(What was the fundamentals on this again?)
Yeah and still riding that train.
I have sat waiting for that one to appear for some days now. Waiting and waiting.
Waiting for the right shoulder to declare itself and for a candle stick sign.

There was nice pin bar on oil at the same time but that is not surprising as oil has been tracking the major indices like an identical twin.
Oil ran ahead of the indices and was bullish today - well slightly so now we have caught up.

What were the fundamentals on this? Serious?
Credit crisis USA ----> 2008 Crash
Europe Credit Crisis ---->2010 drop.
Nothing actually improving -----> hollow rally (Right shoulder formed of head and shoulder) ----> Pin bar and further index drops.
Rising unemployment, governments printing ever more trillions in worthless fiat currency
Probable currency crises - dollar meltdown under exploding US debt.
Re-run Great Depression.
  • #67,287
  • Jun 24, 2010 6:15pm Jun 24, 2010 6:15pm
Quoting jarroo

As Jig said, you could have drawn them last week.
I have heard James say that he draws the ppz's and fibs on his charts.
Then he waits for price action around these.
He knows price will react to these, so he just waits for price to declare itself.
  • #67,288
  • Jun 24, 2010 6:21pm Jun 24, 2010 6:21pm
Hi there, and apologies for retreading old information provided earlier. The thing is I've been reading this thread from the beginning for about 2 weeks now even when I really shouldn't be (sorry boss) and have come across some acronyms I can't seem to find real actual words to match up with. Is there a definitions page somewhere for all this? Maybe I missed the explanations cos I slip into moments of being cross-eyed due to excessive screen time...

BEOB, BUOB, PPZ for example... huh?

Could someone let me know what these mean? Thanks dudes & dudettes, enjoying the read (still!)
  • #67,289
  • Jun 24, 2010 6:31pm Jun 24, 2010 6:31pm
Quoting Rosentrade
Hi there, and apologies for retreading old information provided earlier. The thing is I've been reading this thread from the beginning for about 2 weeks now even when I really shouldn't be (sorry boss) and have come across some acronyms I can't seem to find real actual words to match up with. Is there a definitions page somewhere for all this? Maybe I missed the explanations cos I slip into moments of being cross-eyed due to excessive screen time...

BEOB, BUOB, PPZ for example... huh?

Could someone let me know what these mean? Thanks dudes &...
Here ya go Rosen

http://www.forexfactory.com/showpost...ostcount=56751

Most of em to get you started

Best
Mike
  • #67,290
  • Jun 24, 2010 6:37pm Jun 24, 2010 6:37pm
Quoting jarroo
The A+ setup examples seem to be rare as of late but when they do appear then tend to really standout.

Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.


(What was the fundamentals on this again?)
That worked out real sweet, it was that 10,500 level !

Quoting jarroo
Hey JIG !! Sup? Good to see you.


I have the the same ones.
.
Good to be back !
  • #67,291
  • Jun 24, 2010 6:42pm Jun 24, 2010 6:42pm
Quoting Rosentrade
Hi there, and apologies for retreading old information provided earlier. The thing is I've been reading this thread from the beginning for about 2 weeks now even when I really shouldn't be (sorry boss) and have come across some acronyms I can't seem to find real actual words to match up with. Is there a definitions page somewhere for all this? Maybe I missed the explanations cos I slip into moments of being cross-eyed due to excessive screen time...

BEOB, BUOB, PPZ for example... huh?

Could someone let me know what these mean? Thanks dudes...
Been there, done that, got the t-shirt.

BEOB = BEarish Outside Bar
BUOB = BUlish Outside Bar
PPZ = Price Pivot Zone

The beob and buob can be easily looked up for details.

PPZ - this is unique J16 - this is in essence the support resistance zone.

This is a term invented by James. He admits there might be some confusion with pivots based on the previous day/weeks prices, but this was the phrase he decided on at the time and we come to know what it means.

It is kind of more subtle than the run of the mill S+R levels. The ppz comes into its own in areas of price congestion. There are lines running through these areas where several bars find support or resistance. James uses the term "price flips" where there is almost some mirror symmetry about the line, the line acting as a reflective zone within the area of congestion. Acting as support and resistance within the congestion area. Price remains below/above and then breaks through to be above/below.

The ppz description I give is what I have picked up from James on his webinars and other seniors in J16 - they might give a slightly different description but I don't think it will be much different.

Oh yes another.

IPB = Inverted Pin Bar - another J16 invention of ghous.
  • #67,292
  • Jun 24, 2010 6:45pm Jun 24, 2010 6:45pm
Nice, thanks PB for the explanation. I don't have the Tshirt yet, just learning to screen print. Bit messy, but lots of fun
  • #67,293
  • Jun 24, 2010 7:05pm Jun 24, 2010 7:05pm
Quoting six gun
Yeah and still riding that train.
I have sat waiting for that one to appear for some days now. Waiting and waiting.
Waiting for the right shoulder to declare itself and for a candle stick sign.

There was nice pin bar on oil at the same time but that is not surprising as oil has been tracking the major indices like an identical twin.
Oil ran ahead of the indices and was bullish today - well slightly so now we have caught up.

What were the fundamentals on this? Serious?
Credit crisis USA ----> 2008 Crash
Europe Credit Crisis ---->2010 drop.
Nothing...

You got me on that one SG. lol

My weak attempt of sarcasm fell short. lol

But with all that you have mentioned, why aren't we at 6500 by now? My point was that PA didn't show that . .Yet. That's why I ignore the News . . most of the time . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #67,294
  • Jun 24, 2010 7:14pm Jun 24, 2010 7:14pm
Quoting jarroo
But with all that you have mentioned, why aren't we at 6500 by now?
It's those retailers that have an oversupply of Dow 10'000 caps. They're holding the market up until they get rid of them.

http://online.wsj.com/media/CashHat_...0928171423.jpg
If you don't risk, you don't ever have to lose.
  • #67,295
  • Jun 24, 2010 7:19pm Jun 24, 2010 7:19pm
Quoting bug
It's those retailers that have an oversupply of Dow 10'000 caps. They're holding the market up until they get rid of them.
Where are those caps from 1999. lol
Indicators show the past. Price Action "Indicates" the future.
  • #67,296
  • Jun 24, 2010 7:23pm Jun 24, 2010 7:23pm
Quoting jarroo
Where are those caps from 1999. lol
Pssst... don't tell anyone I told you... but once those caps are sold out, the retailers will pull the plug on the markets, sending the Dow spiraling down. Then they'll start selling these:

http://www.likecool.com/Style/Design...ones-Hanky.jpg
If you don't risk, you don't ever have to lose.
  • #67,297
  • Jun 24, 2010 7:43pm Jun 24, 2010 7:43pm
Did this BEOB capture anyone's attention?
The subsequent bar did not break it though; perhaps this fact does not go well with some traders since it shows lack of bearish momentum?
Attached Image (click to enlarge)
Click to Enlarge Name: gu_4h.gif Size: 12 KB
  • #67,298
  • Jun 24, 2010 8:23pm Jun 24, 2010 8:23pm
I don't know if I'm doing this right, but it looks to me like price is testing the TL. I haven't been around for long enough to have the eyes of Mike or Jim (I still can't believe the Dow A+ setup), but it looks like GU is picking up some fuel to blast through 1.5. The pin we had today has a pretty small nose, which shows strength. Also, we are sitting on a pivot area and price has been building a base on the weekly. Mike and Jim will probably pull me down from the skies, but I'd say this looks pretty bullish.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 22 KB
Click to Enlarge Name: gu1 weekly.gif Size: 19 KB
If you don't risk, you don't ever have to lose.
  • #67,299
  • Jun 24, 2010 8:38pm Jun 24, 2010 8:38pm
Quoting bug
I don't know if I'm doing this right, but it looks to me like price is testing the TL. I haven't been around for long enough to have the eyes of Mike or Jim (I still can't believe the Dow A+ setup), but it looks like GU is picking up some fuel to blast through 1.5. The pin we had today has a pretty small nose, which shows strength. Also, we are sitting on a pivot area and price has been building a base on the weekly. Mike and Jim will probably pull me down from the skies, but I'd say this looks pretty bullish.
What a difference . . comparing the BEOB ( pinbar looking) setup on the DOW to this small PB on the GU. If you can tell the difference, you now know what an A+ setup looks like and one that isn't an A+ setup.

The location of the small PB couldn't be better . .nice strong confluenced BRN, 1.5000.

The nose is small which shows weakness. Not saying that it does have potential, it does just on the location alone. But what tells me that it may not be done with the 1.5000 is its small size.
Attached Image (click to enlarge)
Click to Enlarge Name: gu24.gif Size: 25 KB
Indicators show the past. Price Action "Indicates" the future.
  • #67,300
  • Jun 24, 2010 8:49pm Jun 24, 2010 8:49pm
Quoting jarroo


Everyone eyeballing the 1.5000 on the GU this morning, I take it.

Yes, Jarrooo but I am eyeballing it on the weekly.

Very interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 108 KB
56 traders viewing now