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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

  • #68,421
  • Jul 12, 2010 8:03am Jul 12, 2010 8:03am
Price action and bars have been around for many many years, a bloke in Japan invented them I believe

However looking at the site i notice he uses '150 and 365 EMA with price action' which is a bit of a coincidence, so theres a very good chance hes been a member (or still is a member) of this thread
  • #68,422
  • Jul 12, 2010 8:07am Jul 12, 2010 8:07am
Do the 150 and 365 EMA's have less weight as we look at lower time frame charts, i.e. weekly is more respected than daily.....daily more respected than 4H?

I realize this is out of context of location and other confluences but I have been trying to watch this and have not come up with an answer.

Has James ever discussed this in earlier posts?
  • #68,423
  • Jul 12, 2010 8:18am Jul 12, 2010 8:18am
Quoting jeurre
I have this one in trouble, initially was trying to short at the break of valley, unfortunately the minor trendline steps in, precise fib 61.8 level too, which I didn't draw here. previously, tried dozens of fib level and trendline conflu, rarelly successful, nonetheless, it surprises you as always.

my problem is what I should do now, kill it or give it enough of breathe before hitting my stoploss hide above the preceeding peak? the reason I am thinking of killing it is the fib and TL confluen which I didn't realise but just noticed it now. here...
Hello jeurre,

My H4 shows a pin bar @ the BRN 9000 which is a PPZ and has confluence with support and previous R (resistance) => (becoming) S (support) - this could be a BUY not SELL area

There is news @ 3PM GMT and just behind the pin bars are some smaller PPZ on the H4 so I am waiting to see what happens after the news release but it may run before then
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In retrospect we learn. In perspective we earn.
  • #68,424
  • Jul 12, 2010 8:21am Jul 12, 2010 8:21am
Quoting Atc
Do the 150 and 365 EMA's have less weight as we look at lower time frame charts, i.e. weekly is more respected than daily.....daily more respected than 4H?

I realize this is out of context of location and other confluences but I have been trying to watch this and have not come up with an answer.

Has James ever discussed this in earlier posts?

Well yes, signals from the higher time frames are stronger.
  • #68,425
  • Jul 12, 2010 8:37am Jul 12, 2010 8:37am
Out of all 4 possible opportunities on my broker feed, I went with USDCHF. The main reason to go with USDCHF is the strong visible support .. 1.05.
The biggest con here is against the order flow.

The weakest one among the 4 is USDCAD still the BEOB is still in sideways market.
EURUSD - Daily: http://www.forexfactory.com/showpost...ostcount=68314
GBPUSD-Daily: http://www.forexfactory.com/showpost...ostcount=68316
USDCAD-Weekly : http://www.forexfactory.com/showpost...ostcount=68317
USDCHF-Daily : http://www.forexfactory.com/showpost...ostcount=68318


Now USDCHF, hit the first FTA. 1/2 postion is off the table and rest is on BE.


EDIT- Looks like both EURUSD and GBPUSD hit first FTA's but USDCAD is not..
Attached Image(s) (click to enlarge)
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  • #68,426
  • Jul 12, 2010 8:42am Jul 12, 2010 8:42am
Quoting cprao
Out of all 4 possible opportunities on my broker feed, I went with USDCHF. The main reason to go with USDCHF is the strong visible support .. 1.05.
...
Nicely out of the gate cprao.
  • #68,427
  • Jul 12, 2010 8:45am Jul 12, 2010 8:45am
Quoting Bemac
Nicely out of the gate cprao.
Yes.
  • #68,428
  • Jul 12, 2010 8:46am Jul 12, 2010 8:46am
Now USDCHF, hit the first FTA. 1/2 postion is off the table and rest is on BE.


How to go ----you can do it
  • #68,429
  • Jul 12, 2010 8:58am Jul 12, 2010 8:58am
Quoting Atc
Now USDCHF, hit the first FTA. 1/2 postion is off the table and rest is on BE.


How to go ----you can do it
Hello Atc, may I ask what was the reason for you to enter long on this?
Was it based on 4HR DLHC bar on 07/09 ??
  • #68,430
  • Jul 12, 2010 9:01am Jul 12, 2010 9:01am
a pinbar rejecting from 111.00. tp at 112.40, stopp loss at the low of the pb.
opinions?
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meine augen sind die sterne
  • #68,431
  • Jul 12, 2010 9:35am Jul 12, 2010 9:35am
Quoting Pinbar
Mike & Jarroo

I am looking at this bar that may or may not end up as a PB, on USD/JPY.

It is off the 89 RN and has confluence of the 50 & 38.2 fibo with a diagonal TL or maybe diagonal PPZ.

The thing is, when looking at the Monthly and weekly, I find it really hard to find the PPZ on this pair and we look to be not that far from rock bottom.

When you have time, I would appreciate it if you could give me your opinion, mainly on the PPZ, I realize this is not yet a PB.

Thanks in advance.
Hey Pin

For me this would be just a very tiny pinbar with not a ton of space. I am not a huge fan of that trendline but again I don't use them too much as a determining factor often. In my opinion it would be a bar that the first trouble area would concern me or need to be taken into account(blue box)

Best
Mike
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  • #68,432
  • Jul 12, 2010 9:37am Jul 12, 2010 9:37am
Quoting Sjr
Thx Mike. Here's another Chart I'm looking at for practice. I'm assuming you wouldn't have taken pb #1 as it would be trading into traffic as you say? Cheers SR
Hey Sjr

Size of these bars would concern me more then anything here. The best one there would be the BEOB off that triple top. There is also divergence. So there were some strong signs we were going to see lower. But as you can see even the iffyer bars worked out all on that type of trade. And yes that yellow line would be a PPZ, and if you put a line at the triple top there, that is resistance and if we break it should turn and act as support(wait for confirmation).

Best
Mike
  • #68,433
  • Jul 12, 2010 9:41am Jul 12, 2010 9:41am
Quoting Asmodeus8
Hi Guys

Look what discovered while surfing in the net.

This guy is actually is doing James 16 stuff as far as I see.

let's just say he used to be a member, and hes not the first to do it.

I'm leaving it at that, cause it's monday saving my energy lol
  • #68,434
  • Jul 12, 2010 9:41am Jul 12, 2010 9:41am
Quoting aserbfx
a pinbar rejecting from 111.00. tp at 112.40, stopp loss at the low of the pb.
opinions?
hey aserbfx,

That pin bar in my eyes lacks quite a bit, the nose could have been longer stretching down into the confluence zone I marked on my chart, or the entire bar itself could have been far better located if it was sitting on top of that confluence.

Also I see the pin bar as merely a retest of the consolidation box that price broke out of, a better close well above 111.5 could have helped the cause here IMHO.

g.
Attached Image (click to enlarge)
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I believe . . .
  • #68,435
  • Jul 12, 2010 9:43am Jul 12, 2010 9:43am
Quoting jeurre
I have this one in trouble, initially was trying to short at the break of valley, unfortunately the minor trendline steps in, precise fib 61.8 level too, which I didn't draw here. previously, tried dozens of fib level and trendline conflu, rarelly successful, nonetheless, it surprises you as always.

my problem is what I should do now, kill it or give it enough of breathe before hitting my stoploss hide above the preceeding peak? the reason I am thinking of killing it is the fib and TL conflu which I didn't realise but just noticed it now. here...
Hey J

My question is what were you using as your basis to sell here.

This one can be solved very simple in my book. Plot the 9000 mark. This is a major ppz, and you sold right into it. One of my first things is never sell/buy into a PPZ, too likely to bounce around and give issues. And this pair is choppy as heck

Mike
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  • #68,436
  • Jul 12, 2010 9:44am Jul 12, 2010 9:44am
Seems like today it's my lucky day. Came across the computer exactly when great opportunities occurred and cached 3 of them in one day

EURGBP and GBPUSD I was late a bit and forced to enter at a retrace but still according to my rules. So 3 small gains for a total of 1.7R = 3.4%
Who says you need at least 1:1 ratio to make money follow the cart!!
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  • #68,437
  • Jul 12, 2010 9:50am Jul 12, 2010 9:50am
Quoting benji533
Seems like today it's my lucky day. Came across the computer exactly when great opportunities occurred and cached 3 of them in one day

EURGBP and GBPUSD I was late a bit and forced to enter at a retrace but still according to my rules. So 3 small gains for a total of 1.7R = 3.4%
Who says you need at least 1:1 ratio to make money follow the cart!!
Great, simple and effective stuff as usual Ben,

I gotta say I love your image file names. lol
I believe . . .
  • #68,438
  • Jul 12, 2010 9:56am Jul 12, 2010 9:56am
Quoting ghous
Great, simple and effective stuff as usual Ben,

I gotta say I love your image file names. lol
LOL
every time I take a mt4 pic I just add another letter so it won't replace the previous pic and this is the result of being too lazy to write a real name or open a new folder lol

but I attach them right away to my Word journal doc so the file name is useless for me.
  • #68,439
  • Jul 12, 2010 10:01am Jul 12, 2010 10:01am
Quoting ghous
If the FTA (First trouble area) isn't obvious, this is the first real indication that you're trading into "traffic" or "lack of space" and that alone should keep you from taking the trade. Normally an upright and confident setup has a very clear FTA that a kid could spot, and it's these opps that are the most safest.

g.
Ghous, I second a previous comment - thanks for this.

"trading into traffic" means approaching areas of support / resistance, and or round numbers, right? Is "lack of space" any different?

Thanks
  • #68,440
  • Jul 12, 2010 10:09am Jul 12, 2010 10:09am
Quoting ghous
Great, simple and effective stuff as usual Ben,

I gotta say I love your image file names. lol

TOTALLY AGREE.....This simplicity is what I am trying to achieve.
Yet, ironically, it seems the hardest thing to accomplish.

Way to go Benji & thanks for these refreshing charts.

It encourages me immensely, while I am battling with myself.
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