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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

  • #70,441
  • Aug 3, 2010 5:21am Aug 3, 2010 5:21am
Will be watching a possible breakout of this area.
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Trading: the skill of avoiding trades
  • #70,442
  • Aug 3, 2010 5:48am Aug 3, 2010 5:48am
Took this trade this am. Tightened the stop up a little after the break. FTA around 42 pips away.

Comments..
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  • #70,443
  • Aug 3, 2010 6:06am Aug 3, 2010 6:06am
Hi Everyone, I just found this what looks like a Pb/BEOB on the G/J 4H Chart? Any comments from senior folk would be appreciated. Cheers SR
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  • #70,444
  • Aug 3, 2010 6:12am Aug 3, 2010 6:12am
Quoting Sjr
Hi Everyone, I just found this what looks like a Pb/BEOB on the G/J 4H Chart? Any comments from senior folk would be appreciated. Cheers SR
we have some divergence which is good the overall bar size isn't very convincing to me versus the very strong recent bullish bars. One to manage very tight if taken
  • #70,445
  • Aug 3, 2010 6:14am Aug 3, 2010 6:14am
Quoting mbqb11
we have some divergence which is good the overall bar size isn't very convincing to me versus the very strong recent bullish bars. One to manage very tight if taken
Thx Mike, Im still trying to get the Hang of it here. Slowly but surely....
  • #70,446
  • Aug 3, 2010 6:16am Aug 3, 2010 6:16am
Quoting Jonnyislost
Man what a dry couple of weeks, markets are really testing my patience lately,
This is the first decent looking setup i've seen for a while according to my rules

GBP/AUD
3 Hour chart
Pin Bar
1.75 BRN
Divergence
Targets/Trouble areas marked in grey

On the downside it's pretty traffic-y

Closed it for a loss since we cut back through the BRN
  • #70,447
  • Aug 3, 2010 6:49am Aug 3, 2010 6:49am
Quoting mbqb11
we have some divergence which is good the overall bar size isn't very convincing to me versus the very strong recent bullish bars. One to manage very tight if taken
So you dont take this one ?

Thing for me is i would take it if i knew where the hell to get in - it was always going to retrace , as can be seen by the following bar, but hard to find a safe entry - otherwise i would be in...
  • #70,448
  • Aug 3, 2010 6:52am Aug 3, 2010 6:52am
Quoting Jonnyislost
Closed it for a loss since we cut back through the BRN
That really was an odd timeframe - it did look good on that but if u check the h4 you can see it didnt really give a good enough clue ...
  • #70,449
  • Aug 3, 2010 7:01am Aug 3, 2010 7:01am
Quoting pipmyride
That really was an odd timeframe - it did look good on that but if u check the h4 you can see it didnt really give a good enough clue ...
Yeah the timeframe is unusual, I saw the pinbar formation over 3 bars when checking the hourly charts, (hence the 3 hour timeframe).

I'm still not sure if this aggregation method is valid, but I can't see why it shouldn't be. After all the 4Hour charts are only an aggregation of 4 - 1Hr bars

J
  • #70,450
  • Aug 3, 2010 7:40am Aug 3, 2010 7:40am
Hi all,

Hi Mike, as i promise I'm posting.
Would like to hear your view about this 2bar possible Pinbar forming on daily.


There is also a triangle on 4 hour chart. That seems to be breaking downside in the moment im writing.


Ty
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  • #70,451
  • Aug 3, 2010 7:56am Aug 3, 2010 7:56am
Quoting pipmyride
So you dont take this one ?

Thing for me is i would take it if i knew where the hell to get in - it was always going to retrace , as can be seen by the following bar, but hard to find a safe entry - otherwise i would be in...
On a BEOB....most often I wait for the retrace and enter at a prior bars low in a traffic area and try to combine it with other confluences like a BRN like this137.0 PPZ....I didn't take this one ....but this is one of my rules on BEOB/BUOB...ie I wait for the retrace to a location that tests a ppz or brn or some location that it wants to test...that way also i have a smaller stop loss.....this is what has worked FOR ME...hope this helps...still I'm no pro like the senior boyzzzzzzz here
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  • #70,452
  • Aug 3, 2010 8:03am Aug 3, 2010 8:03am
Quoting jarroo
Any demos on this one?

Location and PPZ support made it happen.

Yeah Jarroo I took it at the break on a demo, took half +50 and moved my stop to a free trade. haha I wake up this morning and read your post about it being "an easy pass for a good trader" or something along those lines =)I wouldn't have taken it on a live account cause of all the chop.

Question, PPZ is pivot point or just area of sup/res?
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  • #70,453
  • Aug 3, 2010 8:17am Aug 3, 2010 8:17am
Quoting Atc
On a BEOB....most often I wait for the retrace and enter at a prior bars low in a traffic area and try to combine it with other confluences like a BRN like this137.0 PPZ....I didn't take this one ....but this is one of my rules on BEOB/BUOB...ie I wait for the retrace to a location that tests a ppz or brn or some location that it wants to test...that way also i have a smaller stop loss.....this is what has worked FOR ME...hope this helps...still I'm no pro like the senior boyzzzzzzz here
Actually that is generally wot i look for - but with this one it just weirded me out on the retrace so i didnt go for it ... and it does look messy now too ...
  • #70,454
  • Aug 3, 2010 8:31am Aug 3, 2010 8:31am
Quoting pipmyride
Actually that is generally wot i look for - but with this one it just weirded me out on the retrace so i didnt go for it ... and it does look messy now too ...
I am working on this "weirded me out" which I think of as feelings or otherwise psychology of trading..... I am still trying to take the emotion out of trading... trade what I see...and let the market do the rest...I have to tell myself feelings in the market are overated and have to force myself to be more like a machine/feelings have no influence in the market....it's there or it is not...it has to stick out or i don't trade it

Don't get me wrong I'm not critisizing you ...just need to get it out of my head... I guess I am exposing my faults
Peace Bro
  • #70,455
  • Aug 3, 2010 8:45am Aug 3, 2010 8:45am
Quoting Jonnyislost
Yeah the timeframe is unusual, I saw the pinbar formation over 3 bars when checking the hourly charts, (hence the 3 hour timeframe).

I'm still not sure if this aggregation method is valid, but I can't see why it shouldn't be. After all the 4Hour charts are only an aggregation of 4 - 1Hr bars

J
Hey Jonny,

Where was your SL? The other end of the PB or was it BRN 1.75?
(this pair is not in my feed therefore I cannot see where price ended up in)

CY
  • #70,456
  • Aug 3, 2010 8:56am Aug 3, 2010 8:56am
Quoting ertorque
Hey Jonny,

Where was your SL? The other end of the PB or was it BRN 1.75?
(this pair is not in my feed therefore I cannot see where price ended up in)

CY
Hey CY,
My original stop was on the other end of the PB but I decided to cut the trade when it passed 1.75 as there was no real reason to still be in it.

FxPro and IBFX have GBP/AUD but I know it's one of the rarer ones

J
  • #70,457
  • Aug 3, 2010 8:58am Aug 3, 2010 8:58am
I was wondering. Does anyone trade stocks with J16 method?
For example Sp500 Index. 500 highly liquid stocks.
Easier to choose "a perfect setup" from 500 than from 30....

One reason I think it would not be wise is that stocks gap a lot?

Anyone had any experience? Thanks.
  • #70,458
  • Aug 3, 2010 9:04am Aug 3, 2010 9:04am
Quoting Jonnyislost
Hey CY,
My original stop was on the other end of the PB but I decided to cut the trade when it passed 1.75 as there was no real reason to still be in it.

FxPro and IBFX have GBP/AUD but I know it's one of the rarer ones

J
Is your IBFX UK's because mine (US) doesn't have GBP/AUD.
Well, if price has not reached the other end of the pb then I would say the play is still very much 'alive' because as you know putting SL at the other end is very much the way in J16.

Yes I understand that sometimes we need to bail out when one thinks momentum is not in our desired direction but I guess placing SL is one of the 'arts' that one has to learnt be it at the extreme end or previous bar hi/lo etc. I know I am still learning and experimenting.............
  • #70,459
  • Aug 3, 2010 9:13am Aug 3, 2010 9:13am
Quoting ertorque
Is your IBFX UK's because mine (US) doesn't have GBP/AUD.
Well, if price has not reached the other end of the pb then I would say the play is still very much 'alive' because as you know putting SL at the other end is very much the way in J16.

Yes I understand that sometimes we need to bail out when one thinks momentum is not in our desired direction but I guess placing SL is one of the 'arts' that one has to learnt be it at the extreme end or previous bar hi/lo etc. I know I am still learning and experimenting.............
Sorry you're right, I meant FxPro and Alpari, my other feeds don't have it listed.

And yeah the general J16 method says place the SL on the other end of the bar. But I try to limit my "full bar losses" when I can.
I figured before I even made the trade that if the price turns around on me and goes back though the BRN I may as well close the trade, meaning my loss is only 0.5R instead of a full 1R

J
  • #70,460
  • Aug 3, 2010 9:25am Aug 3, 2010 9:25am
Quoting Adilius07
I was wondering. Does anyone trade stocks with J16 method?
For example Sp500 Index. 500 highly liquid stocks.
Easier to choose "a perfect setup" from 500 than from 30....

One reason I think it would not be wise is that stocks gap a lot?

Anyone had any experience? Thanks.
yes, i do trade stocks and futures.
if you like, check my attachements for posted stock-charts.
meine augen sind die sterne
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