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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

  • #70,781
  • Aug 7, 2010 8:30am Aug 7, 2010 8:30am
Quoting ghous
Looks great Addy,

Watch out for the bar lows near 30.00

g.
Ghous thanks a lot! Yes I also have this area as FTA.
I am just starting to see if I would do any good with stocks and J16.
Will take just 1 trade a week (if at all).
So forex is daily, stocks are weekly
  • #70,782
  • Aug 7, 2010 8:35am Aug 7, 2010 8:35am
Quoting Adilius07
Ghous thanks a lot! Yes I also have this area as FTA.
I am just starting to see if I would do any good with stocks and J16.
Will take just 1 trade a week (if at all).
So forex is daily, stocks are weekly
I haven't traded stocks a great deal myself, but clearly the key to enjoying J16 teachings on stocks is on the longer term trades.

g.
I believe . . .
  • #70,783
  • Aug 7, 2010 8:50am Aug 7, 2010 8:50am
Quoting Pinbar
My problem is, I can't find any on Weekly & Daily.
I am not sure they really qualify for a trade or not. however, I see a PB on
weekly USDMXN (FXDD) and weekly NZDCHF(IBFX).

Anyways, thank you for the indicator,, that is great.. very helpful.
  • #70,784
  • Aug 7, 2010 9:22am Aug 7, 2010 9:22am
any opinion on this daily stock?
is it important that the close is not inside the last candle?
(p.s. just look what indicated the last down-swing... )
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meine augen sind die sterne
  • #70,785
  • Aug 7, 2010 9:44am Aug 7, 2010 9:44am
Wheat 2 Day Pin,

Not sure if it's big enough
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  • #70,786
  • Aug 7, 2010 9:59am Aug 7, 2010 9:59am
Quoting pmn100
Attachment

Hmm, wheat.
There's a bearish pinbar on D2. Will it work like the last one on cable
  • #70,787
  • Aug 7, 2010 10:05am Aug 7, 2010 10:05am
beob on daily lufthansa.
the bar itself looks good, but i think that the location is really bad.
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meine augen sind die sterne
  • #70,788
  • Aug 7, 2010 11:27am Aug 7, 2010 11:27am
Wheat looks interesting yes, kinda scary to short such a violent upmove though
  • #70,789
  • Aug 7, 2010 11:28am Aug 7, 2010 11:28am
Quoting Suba
Hey jarroo.

What was your Entry & Stop point and FTA in this trade? I mean in the GBP/USD 2 days bar trade.

Just wanna learn a bit more.

Thank´s for the lessons and advices.

Suba

Hey Suba,

Going into the 2 Day PB on the Gbp/Usd, I had noted that this PB was too small and that there wasn't a clear rejection of the 1.6000, meaning Price did not go up and through and then down from the 1.6000. These facts alone would cause for a easy pass but I decided to manage it tightly.

I did like its location (Swing High and near, although not at, the 1.6000). Moving to break even or applying the free trade approach were my options. The Low of the 2 Day PB was 1.5855, my entry was a 8 pip buffer 1.5847. Price broke very hard which is a good and I moved my whole position to break even.

My initial FTA was the 1.5700ish area which was a bit aggressive. Zooming out to get a big picture (which Mike tells us all to do on every setup) a clearer FTA was presented at the 1.5818, a strong PPZ level.

This 2 Day PB did exactly what all relatively good PA setups do . . hit its target. And this one did just that. . . . no surprise.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,790
  • Aug 7, 2010 11:35am Aug 7, 2010 11:35am
Quoting aserbfx
any opinion on this daily stock?
is it important that the close is not inside the last candle?
(p.s. just look what indicated the last down-swing... )
The close not being within the previous bar is a definite concern.

I am also looking at the 41 area. The pin bar forming lower down where the nose would have touch or better still penetrated the 41 area (the gray ppz you marked in your chart) would have been nice.

Way too risky for my liking for sure.

g.
I believe . . .
  • #70,791
  • Aug 7, 2010 11:48am Aug 7, 2010 11:48am
Quoting Atc
Even though I have seen this many times...thx for taking the time to drill it into my skull . .
Quoting jarroo
Thanks Atc.


Looks like the Support level on the Eur/Cad is weak . .this dog won't hunt (like the chf/jpy). . looks like were going the other way. Probably will act as a stronger Resistance level.

Hey Atc . . my take on the Eur/Cad was a bit premature. Waiting for a Weekly bar to close below the 1.3350 would have given my assessment more credibility. With that said, the 1.3350 will act as strong Support.

The small Daily PB off the strong 1.3350 PPZ level gave a great small risk trade in my book. Moving to break even or covering your risk prior to the NFP was available since Price broke the PB before the announcement.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,792
  • Aug 7, 2010 12:00pm Aug 7, 2010 12:00pm
Quoting jarroo
Hey Atc . . my take on the Eur/Cad was a bit premature. Waiting for a Weekly bar to close below the 1.3350 would have given my assessment more credibility. With that said, the 1.3350 will act as strong Support.

The small Daily PB off the strong 1.3350 PPZ level gave a great small risk trade in my book. Moving to break even or covering your risk prior to the NFP was available since Price broke the PB before the announcement.
Understood... regardless, yet the NFP had me on the sidelines and yes even though the PB was small and off that support...no trade according to my rules...but you are correct in regards to R:R...thx for evaluating
  • #70,793
  • Aug 7, 2010 12:13pm Aug 7, 2010 12:13pm
Quoting Atc
Understood... regardless, yet the NFP had me on the sidelines and yes even though the PB was small and off that support...no trade according to my rules...but you are correct in regards to R:R...thx for evaluating
Would have liked to have seen the Weekly Cad PB close above the 1.0300. The 1.0300 has proved itself to be a strong PPZ level. Should be an area to watch next week.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,794
  • Aug 7, 2010 12:16pm Aug 7, 2010 12:16pm
Quoting james16
In just six months, the largest tax hikes in the history of
America will take effect.

They will hit families and small businesses in three great waves on
January 1, 2011:

First Wave:
Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for
investors, small business owners, and families.
These will all expire on January 1, 2011:

Personal income tax rates will rise. The top
income tax rate will rise from 35 to 39.6 percent (this is also
the rate at which two-thirds of small business profits are taxed)....

Son of a B(Beep) . . .wow
Indicators show the past. Price Action "Indicates" the future.
  • #70,795
  • Aug 7, 2010 12:17pm Aug 7, 2010 12:17pm
Quoting mike w
HAHA awww mikey, you would look so cute with your "life partner" in the wedding photos.

lol
Indicators show the past. Price Action "Indicates" the future.
  • #70,796
  • Aug 7, 2010 12:19pm Aug 7, 2010 12:19pm
Quoting james16
chart for chat room
Any one save this chat session?

I missed out on the fun . .
Indicators show the past. Price Action "Indicates" the future.
  • #70,797
  • Aug 7, 2010 12:36pm Aug 7, 2010 12:36pm
i want to buy the book Martin Pring on Price Action ebook. does anyone know where to buy it at a lower price?
  • #70,798
  • Aug 7, 2010 12:36pm Aug 7, 2010 12:36pm
Quoting Delite
Shucks! Guys, such a welcome - thanks!

For what its worth, this is, by some considerable margin, the most difficult challenge I have ever undertaken. Yet, with each hurdle, comes renewed determination that I will achieve my goal.

Blooming hard though sometimes!

Let me add my welcome as well, Delite.

If this hasn't been presented to you yet . . . I strongly suggest you go through the Guest videos here. . . good stuff:

http://www.james16group.us/Guests/guestmaterial.html

It doesn't have to be that difficult at times. It just takes time for our great PA setups to develop then they can become very easy.

Also I would look at many other pairs then just the EU and GU, because PA under the right criteria is universal.

Welcome again,


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #70,799
  • Aug 7, 2010 1:10pm Aug 7, 2010 1:10pm
Quoting jdl
Yesterday a friend and I were talking about the usd/cad daily pin bar. We wanted to figure out where the PPZ/FTAs would likely be. Trying our best to channel J16, we drew the FTA lines at 1.0200, 1.0275, and 1.0300. And what do you know, today it peaked at 1.0302 and will close right around 1.0275. Isn't it funny how prices just love those PPZs?
What is a FTA Line ??

THX!
  • #70,800
  • Aug 7, 2010 1:35pm Aug 7, 2010 1:35pm
Quoting aserbfx
beob on daily lufthansa.
the bar itself looks good, but i think that the location is really bad.
The location isn't bad Aserb,

yes we are going counter trend but that's what you will end up doing each time you think about taking a good looking bar off a swing high/low. Trick is to understand and understand well if the swing high/low truly matters. Round numbers, previous evidences of support/resistance in the region and any and and every other confluence factor will come into the equation at this stage - i.e validating a certain location.

We're clearly sitting at a BRN 13.00 which is a proven PPZ. Add to that the shape of the trigger bar itself and the divergence that comes along with it and you're talking about a pretty good setup over all.

g.
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I believe . . .
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