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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

  • #69,161
  • Jul 20, 2010 6:06am Jul 20, 2010 6:06am
Quoting supremeChaos
Good to see u back.
hope u didnt miss the Cyrus summaries
do well in school, because next time u'll do well in trading & leave/forget about school...
thanks for the post SC right now im at page 4200 i think that you saved me from looong reading for now i will go through the summaries, cause it will be much faster, and then i will slowly read every post.
So thanks again for posting this
  • #69,162
  • Jul 20, 2010 6:07am Jul 20, 2010 6:07am
Quoting tgrebis
Sorry, heres the chart
Hi tgrebis!

I saw that nobody commented your chart yet, so i'll try

The trade you took has several problems imho, first is that the pin is not at swing high, second the pin is pretty small regarding to the big bullish bar a few bars left, and the last problem i see is that the FTA is pretty close. So this time you could have been lucky, but i would consider to stay away from similar situatuons in future.

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  • #69,163
  • Jul 20, 2010 6:08am Jul 20, 2010 6:08am
Quoting supremeChaos
six gun,
Mike's got a point.

on Daily, eurusd has made a nice upmove & is probably undergoing a breather/retracement towards low-1.2800/mid- to low-1.2700..(to achieve this, 1.2900 has to break convincingly)

price got tired & lacked the momentum to push through 1.3000.... for now
let's see.
5 Hour chart looking quite heavy
Love that 1.3000
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  • #69,164
  • Jul 20, 2010 6:14am Jul 20, 2010 6:14am
Jonnyisfound,
....add divergence & what do we possibly have
let's see if 1.2900 gives way
  • #69,165
  • Edited 7:30am Jul 20, 2010 6:16am | Edited 7:30am
Quoting supremeChaos
six gun,
Mike's got a point.

on Daily, eurusd has made a nice upmove & is probably undergoing a breather/retracement towards low-1.2800/mid- to low-1.2700..(to achieve this, 1.2900 has to break convincingly)

price got tired & lacked the momentum to push through 1.3000.... for now
let's see.
Agree with supremeChaos on this one. Those small PB's look like a sideways move at the moment as price consolidates / takes a breather, however one could form a BEOB or something similar.

We wait and watch....hopefully for a very clear SELL signal if we get it....I would like to see it go a little higher before we get a bigger sell signal but we trade (or not) what we get given.

Although that 13000 level is looking like quite strong resistance and we did get two bearish signals on the H4.
In retrospect we learn. In perspective we earn.
  • #69,166
  • Jul 20, 2010 6:19am Jul 20, 2010 6:19am
Quoting ppfx
Hi tgrebis!
I saw that nobody commented your chart yet, so i'll try....
back reading helps!

i guess u misunderstood his post/chart.
he bought (see the blue triangle on his first chart)


Quoting tgrebis
Hello, everyone. I took this pinbar early this morning. Red line is stop at major support on the daily. Seems like a possible long term trend reversal. time will tell. I believe I will take half off and let it ride.
Hello tgrebis,
it might be a reversal, but , IMHO, not necessarily a long-term one.
keep posting!!
  • #69,167
  • Jul 20, 2010 6:23am Jul 20, 2010 6:23am
Quoting supremeChaos
Jonnyisfound,
....add divergence & what do we possibly have
let's see if 1.2900 gives way
Actually the divergence isn't that clear on the 5 hour,
Thats why I cut the MACD out of the screenshot
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  • #69,168
  • Jul 20, 2010 6:25am Jul 20, 2010 6:25am
Quoting supremeChaos
back reading helps!

i guess u misunderstood his post/chart.
he bought (see the blue triangle on his first chart)
my bad
  • #69,169
  • Jul 20, 2010 6:25am Jul 20, 2010 6:25am
Jonnyisfound,
on your first chart, plot a line for the last 10-12 bars


EDIT:
wait, the two charts look the same & u seem to have already plotted the divergence on the second chart
  • #69,170
  • Jul 20, 2010 6:27am Jul 20, 2010 6:27am
Quoting ppfx
my bad
no problem, bro
  • #69,171
  • Jul 20, 2010 6:33am Jul 20, 2010 6:33am
Quoting supremeChaos
Jonnyisfound,
on your first chart, plot a line for the last 10-12 bars


EDIT:
wait, the two charts look the same & u seem to have already plotted the divergence on the second chart
Yep, just showing the two different ways
Neither looks super convincing to me, but technically it's there
  • #69,172
  • Jul 20, 2010 7:02am Jul 20, 2010 7:02am
EUR/GBP sitting quite pretty too

Double top &
0.8500 BRN, BEOB
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  • #69,173
  • Jul 20, 2010 7:07am Jul 20, 2010 7:07am
The EUR/USD 8 hour looks pretty interesting. BEOB Just closed below the lows of the last 8 bars, off BRN 1.30. Not huge but decent size. Will keep an eye on this one.
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  • #69,174
  • Jul 20, 2010 7:45am Jul 20, 2010 7:45am
I was wondering what people think of it? i know it's not the end of the hour. it made an awesome Pin and then kept going down

if it closed now, would it be a good pin?

i've seen this a few times before and didn't know how to handle it. i try to have the body in the lower 25% but in the end it's about 50% of the bar is body but a really nice nose and location.

simple
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A woman drove me to drink, and I forgot to thank her
  • #69,175
  • Jul 20, 2010 7:54am Jul 20, 2010 7:54am
Hi all, hope you guys have been having a great time here.

I have a question for Mike, Jarroo, Ghous and all veterans. Do you ever enter a trade that doesn't show any PB,DBHLC,DBLHC,BEOB,BUOB,IB but based on S/R and TLs? I'm asking this because although feeds could be different (depending on time zones) which shows some people a PB but to some others not a PB, S/R and TLs are more consistent throughout all broker feeds. Sometimes the price has reached a level where you somehow know it has the potential to reverse (due to S/R and TLs) but there's no J16 setups on the candles. I'm not quite good at phrasing but I hope you understand what I mean. Thanks.
  • #69,176
  • Jul 20, 2010 7:59am Jul 20, 2010 7:59am
Hello simpleguy,
it would look like a PB-BEOB.

careful, this is a H1 chart... plus in 2minutes we have Bank of Canada rate announcement.
probably price is already showing the direction
let's see.
  • #69,177
  • Jul 20, 2010 8:03am Jul 20, 2010 8:03am
Quoting supremeChaos
Hello simpleguy,
it would look like a PB-BEOB.

careful, this is a H1 chart... plus in 2minutes we have Bank of Canada rate announcement.
probably price is already showing the direction
let's see.
thanks SC, just using it on demo to learn and I don't trade this stuff yet off this low of a TF, just wondering about formations. Learning!

thanks as always, great thread, great people!
A woman drove me to drink, and I forgot to thank her
  • #69,178
  • Jul 20, 2010 8:06am Jul 20, 2010 8:06am
Quoting fxeturn
...
I have a question for Mike, Jarroo, Ghous...
Hello fxeturn,
im just a senior newbie & this is just my view

i think what u mean is trading when there is no PA setup (PB, BEOB etc) visible
i personally do this.
i can say that it's in between PA setup trading & touch trading

ok, now that i answered your question....
i'd like to say that this is beyond the main scope of this thread, which is trading with certain PA setups.
many will tell u that trading with visible (as opposed to no) PA setups is a safe & recommended way to trade & u should start/stick with this route
  • #69,179
  • Jul 20, 2010 8:06am Jul 20, 2010 8:06am
pinbar on eu h1. closed above 1.2850 and retraced from the tl.
(p.s. the buy position in the chart hase nothing to with j16-setup).
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meine augen sind die sterne
  • #69,180
  • Jul 20, 2010 8:09am Jul 20, 2010 8:09am
Quoting simpleguy
... just wondering about formations. Learning!
..
jarroo likes it. read his recent posts(i believe he mentioned it again)
Learning is awesome Sir
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