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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

  • #68,501
  • Jul 13, 2010 3:41am Jul 13, 2010 3:41am
Quoting pipmyride
This week slow of quality or is it just me ?
Marketwise or threadwise?
When you have to shoot, shoot. Dont talk.
  • #68,502
  • Jul 13, 2010 4:21am Jul 13, 2010 4:21am
Since it's post your trading station day and being the old guy here I thought I would share my setup
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  • #68,503
  • Jul 13, 2010 4:24am Jul 13, 2010 4:24am
Quoting Atc
Since it's post your trading station day and being the old guy here I thought I would share my setup
Cool

Actually, today these setup maybe would cost much more! As Antique
  • #68,504
  • Jul 13, 2010 4:29am Jul 13, 2010 4:29am
Quoting Adilius07
Cool

Actually, today these setup maybe would cost much more! As Antique
Forgot to mention that this is no "chick magnet" ......so it saves me money in the long run
  • #68,505
  • Jul 13, 2010 4:38am Jul 13, 2010 4:38am
Quoting Atc
Forgot to mention that this is no "chick magnet" ......so it saves me money in the long run
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  • #68,506
  • Jul 13, 2010 4:39am Jul 13, 2010 4:39am
Quoting joelcf
Marketwise or threadwise?
lol .. marketwise .. guess its summer over there eh
  • #68,507
  • Jul 13, 2010 4:56am Jul 13, 2010 4:56am
Hello all,

I am working on learning Pin bars a little better. I know this is off a 1hr chart and I'm not trading off of it, just looking at bars to see A+ bar so I can get them fixed in my mind. I attached a Pic of one below, could you guys let me know what you think of it. If it's not a A+ what kind of rank would it be? It seems like a set up that could be traded.

The second chart is a current chart on the A/U. I'm noticing we have 5 daily closes forming resistance right under a big number.8000. We have another point of resistance 62 pips away north of there. Is this something you guys would trade?

I understand we are in a sideway market
Would you look for price to flip and go south?
Is those two points of Resistance enough to consider it too much traffic?

All help appreciated, still learning what A+ is and what a B is.
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A woman drove me to drink, and I forgot to thank her
  • #68,508
  • Jul 13, 2010 5:05am Jul 13, 2010 5:05am
Quoting pipmyride
lol .. marketwise .. guess its summer over there eh
Hey PMR...

How's your Eu short doin'?
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I believe . . .
  • #68,509
  • Jul 13, 2010 5:14am Jul 13, 2010 5:14am
Quoting simpleguy
Hello all,

I am working on learning Pin bars a little better....
hey there,

the bar on eur/gbp was a pin bar yes,but then it is looking to catch a falling knife without those protective gloves on. I mean the size of the bar is way too small IMHO to be worth a trade given the 3 hours of momentum to the downside prior to it. So what it only ended up doing was hit the FTA and bounce.

In considering the Au bar you are looking to get your hands at continuation Pin bars which can always be very tricky, they can be tricky because they can just as easily be a reversal signal which I call the IPB - again that is way too advanced for a person who is still pursuing the knowledge needed to rate pin bars. It would be great for you if you can focus on pin bars at wing highs and swing lows only or deep into pull backs to dominant trends for now.

g.
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I believe . . .
  • #68,510
  • Edited 5:22am Jul 13, 2010 5:20am | Edited 5:22am
Here is a setup that I missed (sleeping again)would the seniors comment on this or if they did enter on this BEOB BRN(above) what they did?

Would you enter on retrace to previous bar ? allowing for a small stop
Would you wait for retrace then play the brake of the last bar(BEOB)

Would your FTA be the 150 EMA?

Would you have a 2nd TA and where?

I know how i would have managed it but looking for other insights.

Thx in advance.....i believe this would be a good learning experience for all...shows alot...for example "where is price going"

Bill
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  • #68,511
  • Jul 13, 2010 5:41am Jul 13, 2010 5:41am
Is there a post or a file with the definitions for A+, B+ setups?
  • #68,512
  • Jul 13, 2010 5:48am Jul 13, 2010 5:48am
Quoting Adilius07
Is there a post or a file with the definitions for A+, B+ setups?
Hey Ad

There are too many posts to list(man this thread is huge). But really there is no set definition of either. As you will see different strokes for different folks. WHich is both a good thing(flexibility) but the hard thing(b/c it takes time and experience).

Someone had just asked about this, this morning here was my response


Hey Bob

Welcome to the group. Alex said it great. I will just add to it to maybe say it in a different way as well.

Firstly yes over time it will get better to see what is an A+ setup to YOU b/c that is what will become most important. What one persons A+ setup is, might not be another persons. Simply because different folks will have different ways of seeing things. I am fully in agreement with Alex here about the way he analyzes a situation. Sometimes you have just one great thing that could make a trade worth taking. Sometimes you might have 5 things that line up but yet one is off and you pass on it. As you slowly get the pieces together things will become much more clear then you can see now so stick with it.

I always tell people that when they are new, where they will be in 4-6 months from now will blow your mind. Then 4-6 months after, and 4-6 after that etc. It is a building blocks type business.

Again continue to ask questions as needed, as you can see we have the best community http://www.james16group.us/forums/im...lies/smile.gif

Mike
  • #68,513
  • Jul 13, 2010 5:56am Jul 13, 2010 5:56am
Quoting ghous
hey there,

the bar on eur/gbp was a pin bar yes,but then it is looking to catch a falling knife without those protective gloves on. I mean the size of the bar is way too small IMHO to be worth a trade given the 3 hours of momentum to the downside prior to it. So what it only ended up doing was hit the FTA and bounce.

In considering the Au bar you are looking to get your hands at continuation Pin bars which can always be very tricky, they can be tricky because they can just as easily be a reversal signal which I call the IPB - again that is way...
excellent G

Here is another perspective for simple guy.

We are almost coming off a H&S type pattern, or at the least a very strong bearish look with the H&S pattern + the last few bars(arrows) that are very bearish. We want to think about reversal bars as "why is price looking to reverse here?" That is where location and confluence will piece in. Then we have to look like G said to the flip side of mgmt and what it is trading into.

Just an addition to Gs there

Mike
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  • #68,514
  • Jul 13, 2010 5:58am Jul 13, 2010 5:58am
is it true, you use this machine?

Quoting Atc
Since it's post your trading station day and being the old guy here I thought I would share my setup
  • #68,515
  • Jul 13, 2010 5:59am Jul 13, 2010 5:59am
Quoting mbqb11
excellent G

Here is another perspective for simple guy.

We are almost coming off a H&S type pattern, or at the least a very strong bearish look with the H&S pattern + the last few bars(arrows) that are very bearish. We want to think about reversal bars as "why is price looking to reverse here?" That is where location and confluence will piece in. Then we have to look like G said to the flip side of mgmt and what it is trading into.

Just an addition to Gs there

Mike
M's right as always
I believe . . .
  • #68,516
  • Jul 13, 2010 6:03am Jul 13, 2010 6:03am
what a smart pattern recognition, liked H&S pattern. there is also a BEOB on H4, if you don't mind, Mike.

jeurre

Quoting mbqb11
excellent G

Here is another perspective for simple guy.

We are almost coming off a H&S type pattern, or at the least a very strong bearish look with the H&S pattern + the last few bars(arrows) that are very bearish. We want to think about reversal bars as "why is price looking to reverse here?" That is where location and confluence will piece in. Then we have to look like G said to the flip side of mgmt and what it is trading into.

Just an addition to Gs there

Mike
  • #68,517
  • Jul 13, 2010 6:08am Jul 13, 2010 6:08am
Thought the thread needed some discussion so here goes.

One saying that keeps hammering in my mind that I heard Jim say in one of the free vids on the PF is "if you can't trade a sideways market then you will not make it in this business" or something to that effect.

So while I have been trading PB's BEOB's DBHLC Double PB's etc. first demo and with live accnt. with success, I have ventured to demo trading sidways markets.

Indeed this is hard! I have had mixed results and will continue to demo.

My question(s) to those who are successful at this is-----How did you get better at this, ie "sideways markets?

I assume that Mike, Jim and all the seniors here(pardon me if I didn't mention your name) do this regularly. Is this true guys?

Attached is a chart that displays a demo trade i took this morning for reference that came out positive. I think it is self explanatory.

In sincere appreciation,

Bill
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  • #68,518
  • Jul 13, 2010 6:08am Jul 13, 2010 6:08am
Quoting jeurre
what a smart pattern recognition, liked H&S pattern. there is also a BEOB on H4, if you don't mind, Mike.

jeurre
Not necessarily something I would trade these days, but certainly take note off. I am long gbp/usd from a 4hr buob and more downside on eur/gbp would make sense for me along these lines(hopefully )

Mike
  • #68,519
  • Jul 13, 2010 6:09am Jul 13, 2010 6:09am
Quoting mbqb11
Not necessarily something I would trade these days, but certainly take note off. I am long gbp/usd from a 4hr buob and more downside on eur/gbp would make sense for me along these lines(hopefully )

Mike
ooohh!!! Nice!
I believe . . .
  • #68,520
  • Jul 13, 2010 6:10am Jul 13, 2010 6:10am
Quoting Atc
Thought the thread needed some discussion so here goes.

One saying that keeps hammering in my mind that I heard Jim say in one of the free vids on the PF is "if you can't trade a sideways market then you will not make it in this business" or something to that effect.

So while I have been trading PB's BEOB's DBHLC Double PB's etc. first demo and with live accnt. with success, I have ventured to demo trading sidways markets.

Indeed this is hard! I have had mixed results and will continue to demo.

My question(s) to those who...
amazing Bill. Your options aren't limited to that box always though. Meaning if you believe in a trade you can also see what happens at the top of the box, and catch a potential runner there. You can then use the top of the box for trade mgmt(if price breaks out it will likely test the top and continue to run or a good chance of it).

Taking note of these types of area and environments are crucial while in trades, out of trades, and deciding to take trades.

Nice post sir

Mike
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