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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

  • #69,341
  • Jul 21, 2010 3:05pm Jul 21, 2010 3:05pm
Quoting Mp1983
Hey All,

Haven't been around much as I've gone back to lurking mode but how about this one? Looks like a bit of a Ghous special to my unskilled eye!

Pro's:

Below the 200MA
Inside bar
Inverted Pin Bar
BRN - 9,200
PPZ

Con's:

FTA is at the weekly pivot so may need to be watched carefully.

Comments please!

Manya1983

May I add a significant TL to your analisis?
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Trading: the skill of avoiding trades
  • #69,342
  • Jul 21, 2010 4:08pm Jul 21, 2010 4:08pm
Quoting eswap0
This was my simple way to trade daily eurusd.
50 pips to the pocket with half position @FTA, moved to BE and now wait and see.
Maan, I think this was a perfect trade!!!
Nice bar, nice space.
How could I miss it! I guess my eye is not yet trained well...
  • #69,343
  • Jul 21, 2010 4:26pm Jul 21, 2010 4:26pm
Quoting jarroo
The 8 Hour looks a bit bigger.

Also 365 ema confluence.
Update.

PA Rules!
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Indicators show the past. Price Action "Indicates" the future.
  • #69,344
  • Jul 21, 2010 4:30pm Jul 21, 2010 4:30pm
Quoting jarroo
Update.

PA Rules!
Hello Jarroo, may I please ask. What is the green line?
Maybe is the level where you moved your initial stop loss?

I was thinking maybe to move my stop-loss behind the trigger bar to reduce risk... don't know yet if it's reasonable thing to do. (in general in the future I mean)
  • #69,345
  • Jul 21, 2010 5:05pm Jul 21, 2010 5:05pm
Quoting Adilius07
Hello Jarroo, may I please ask. What is the green line?
Maybe is the level where you moved your initial stop loss?

I was thinking maybe to move my stop-loss behind the trigger bar to reduce risk... don't know yet if it's reasonable thing to do. (in general in the future I mean)
It looks like a pivot zone to me.
  • #69,346
  • Jul 21, 2010 5:51pm Jul 21, 2010 5:51pm
I'm looking at the same thing!
I think someone also mentioned the trendline with the 3 touches on this
I'll have to go back and see if the IPB is still there


Quoting Mp1983
Hey All,

Haven't been around much as I've gone back to lurking mode but how about this one? Looks like a bit of a Ghous special to my unskilled eye!

Pro's:

Below the 200MA
Inside bar
Inverted Pin Bar
BRN - 9,200
PPZ

Con's:

FTA is at the weekly pivot so may need to be watched carefully.

Comments please!

Manya1983

  • #69,347
  • Jul 21, 2010 5:56pm Jul 21, 2010 5:56pm
Quoting mihazupan1
It looks like a pivot zone to me.
yep sure is a minor one and a good area where price was likely to retrace and find resistance before proceeding on the way down. Great areas for retracement entries or some form of stop mgmt(which is how I use them)

Mike
  • #69,348
  • Jul 21, 2010 5:58pm Jul 21, 2010 5:58pm
Mike, sorry to jump in, just want to say I enjoyed reading your insight, bar itself is a small part of the game, this becomes my aha moment. thank, man

jeurre

Quoting mbqb11
Hey Delta

What jey did is recognize that he was trading right into the block of consolidation I posted here

http://www.forexfactory.com/showthre...94#post3889594

Most people will not notice it or be so focused on the bar itself(which is such a small part and will be part of my answer about players in the market) that they will ignore that area. Then price bounces and stops them out in some way. Once you are at the point where you can notice these important things you will really improve your odds of success in the long...
  • #69,349
  • Jul 21, 2010 6:26pm Jul 21, 2010 6:26pm
Quoting jeurre
Mike, sorry to jump in, just want to say I enjoyed reading your insight, bar itself is a small part of the game, this becomes my aha moment. thank, man

jeurre
hope you have many more of them, they are fun
  • #69,350
  • Jul 21, 2010 7:31pm Jul 21, 2010 7:31pm
whats up everyone, hows it going? just got interested in investing and forex in particular a few weeks ago and it looks like ive started at the right place. ive learned a ton from this thread and i can tell its going to be an invaluable resource for me throughout my time trading. thanks so much to jim and everyone involved in this thread - this thing awesome! also, mike, really enjoyed your videos, hopefully you have some new ones planned.

that being said, anyone have any advice on how to play the weekly pin bar for EUR/GBP? it's at a nice ppz, with the trend, and has a good amount of space, just not really sure how to enter. any suggestions would be appreciated. thanks
  • #69,351
  • Jul 21, 2010 8:01pm Jul 21, 2010 8:01pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting ertorque
Hey Jey,

Did you enter on the break of the equidistance channel (in blue on your chart) rather than the break of the BEOB?

CY
I took it after the break of the BEOB which also happens to be the previous swing move TL breakout as well as the 23.6 Fib level which all forms a confluence point that adds to the confidence on the probability. Target was the PPZ congested area. As expected it reached. Thanks to Mike and J16.
I have seen the enemy, and it is me.
  • #69,352
  • Jul 21, 2010 8:07pm Jul 21, 2010 8:07pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Its now back to testing the same level. Just going to watch what happens next.
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I have seen the enemy, and it is me.
  • #69,353
  • Jul 21, 2010 8:20pm Jul 21, 2010 8:20pm
Quoting Jey
I took it after the break of the BEOB which also happens to be the previous swing move TL breakout as well as the 23.6 Fib level which all forms a confluence point that adds to the confidence on the probability. Target was the PPZ congested area. As expected it reached. Thanks to Mike and J16.
Ahh, my bad. I didn't see that the break of the TL was also the break of a BEOB. The BEOB I refered to in my earlier post was actually a few bars to the right of the BEOB that I just noticed.
Thanks!
  • #69,354
  • Jul 21, 2010 9:08pm Jul 21, 2010 9:08pm
Quoting mattymo
whats up everyone, hows it going? just got interested in investing and forex in particular a few weeks ago and it looks like ive started at the right place. ive learned a ton from this thread and i can tell its going to be an invaluable resource for me throughout my time trading. thanks so much to jim and everyone involved in this thread - this thing awesome! also, mike, really enjoyed your videos, hopefully you have some new ones planned.

that being said, anyone have any advice on how to play the weekly pin bar for EUR/GBP? it's at a nice ppz,...
Well it hasn't actually closed yet, so strictly speaking we won't find out if it's a pin bar until it does, but it looks likely.

I'll leave it to the masters to offer their opinion on the bar (I'm not experienced enough yet), but the traditional entry method would be to place a sell stop just below the low of the pin, and the stop just above the high.

I would move my stop to break even when it gets to the first trouble area, in this case, for me, that would be the low of the previous bar.
  • #69,355
  • Jul 21, 2010 9:21pm Jul 21, 2010 9:21pm
I cannot believe no one has mentioned this yet!

I13B, also a squeeze alert 3 bar pattern, stradding VBRN 1.0500.

I have set my sell stop and buy stop below and above the smallest (most recent) bar in the pattern. T/P are at the ORANGE fibo lines of 100.00 and 0.00

my favorite daily pattern in trading.
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Many choose unhappiness over uncertainty.
  • #69,356
  • Jul 21, 2010 9:57pm Jul 21, 2010 9:57pm
Quoting Mp1983
Hey All,

Haven't been around much as I've gone back to lurking mode but how about this one? Looks like a bit of a Ghous special to my unskilled eye!

Pro's:

Below the 200MA
Inside bar
Inverted Pin Bar
BRN - 9,200
PPZ

Con's:

FTA is at the weekly pivot so may need to be watched carefully.

Comments please!

Manya1983

Less neater than the one which occured a little earlier, but tradable IMO with tight management.

g.
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I believe . . .
  • #69,357
  • Edited 10:38pm Jul 21, 2010 10:16pm | Edited 10:38pm
Quoting deltatrade
do you ever wonder what will happen when all this material will be in a book and many people will enter positions like you do and when you do? in my mind that is a good thing because it will make things go you're way more rapidly and more fermly (either sell or buy). is this correct?
Not really. It just means the other side would change the way they break up their orders, and smarter traders and desks will exploit the amatuers jumping on a 'sure thing'. It isnt like insto traders are going to let a bunch of people slip their orders and squeeze their client spread.

Years ago, people used to think MA cross systems or n period breakouts were the holy grail. Now? Turtle soup.

Efficient markets are a bitch.

Quoting deltatrade
i'm asking you this because i have already seen some seminars made by outsiders based on pinbars and it will not be long till this info will get into a book this time written by a professional.
Pring covered it 10 years ago. Todd Mitchell 15 years ago. Steve Nison 20 years ago. Edwards and McGee 25 years ago.

Jim has packaged up decades of hism own knowledge, experience and insight, gave a solid business approach (unlike most TA books, which get bogged down in patterns instead of telling people how to run a business and not go broke) and (with mike riding shotgun ) somehow managed to make it simple, understandable and newbie-friendly. Oh, and for free. Y'all dont know how lucky you are

Quoting deltatrade
maybe large institutions will also follow. i'll say that in max 5 years time some institution will go ahead with james16 method. and then...what? good luck hunting rabbits :d
Gee, lucky bankers are still yet to discover the internet
When you have to shoot, shoot. Dont talk.
  • #69,358
  • Jul 21, 2010 10:24pm Jul 21, 2010 10:24pm
Quoting ghous
Less neater than the one which occured a little earlier, but tradable IMO with tight management.
For me, this is the best trade on the whole chart. Tiny risk, huge reward.

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When you have to shoot, shoot. Dont talk.
  • #69,359
  • Jul 21, 2010 10:24pm Jul 21, 2010 10:24pm
Quoting joelcf
Not really. It just means the other side would change the way they break up their orders, and smarter traders and desks will exploit the amatuers jumping on a 'sure thing'. It isnt like insto traders are going to let a bunch of people slip their orders and squeeze their client spread.

Years ago, people used to think MA cross systems or n period breakouts were the holy grail. Now? Turtle soup.

Efficient markets are a bitch.



Pring covered it 10 years ago. Todd Mitchell 15 years ago. Steve Nison 20 years ago. Edwards and McGee 25 years ago....
I think people don't seem to understand that Price action equates to how price moved over a certain period of time.... it's not a holy grail, it's simply a display of how price moved.

if price dipped down and came back up over a day period of time, you have a dialy bullish pin bar lol.....

it's not like you can "exploit" those who use PA.... unless you can somehow bet on the market being flat... lol....... oh well.....

a pin bar and BUOB is no miracle, it's just an indication that price is turning....
Many choose unhappiness over uncertainty.
  • #69,360
  • Jul 21, 2010 10:26pm Jul 21, 2010 10:26pm
Quoting joelcf
For me, this is the best trade on the whole chart. Tiny risk, huge reward.

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I believe . . .
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