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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

  • #72,001
  • Aug 17, 2010 11:49pm Aug 17, 2010 11:49pm
Quoting spookie94
Ok, on this example you would wait for the retrace to 1.5700 then enter for a short. It hit your retrace target, but would you enter right at 1.5700 (place a pending order) or would you like to see it come down a few pips first as a buffer?
I entered right at the 1.5700 with a 30 pip stop loss, no buffer. The 1.5700 retracement level looked clear to me as well as the quality of the setup.

If bearish PA at the 1.5700 at a lower time frame is presented, you can use a buffer there.


Darn it, I should have shown ertorque this 8 hour BEOB off the 1.5700. . . .which retraced to the previous bar Low . . of course . . .
Attached Image (click to enlarge)
Click to Enlarge Name: gu 8 hour.gif Size: 24 KB
Indicators show the past. Price Action "Indicates" the future.
  • #72,002
  • Aug 17, 2010 11:54pm Aug 17, 2010 11:54pm
Quoting Pinbar
Oh, and Jarroo.

Thanks for the support while I was in that trade, I appreciate it.

I find it interesting that, after it stopped me out, I could think about it clearly and did not get into the REVENGE thing.

I mean, I know that it was only a tiny trade but, previously I had gotten into the mentality of the market being that, entity that ripped me off and it must have revenge reaped on it to teach it a lesson.

ROTFL..Insane, I know but I could get into that previously.

lol That dumb revenge thing . . I understand all to well Pb.

Also, you know how many people would remove their stop loss and "Hope" it comes back . .well . . lol . .it would of worked on this one, which would have given false confidence and the next one they do that to would never come back.

You did real good, Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #72,003
  • Aug 17, 2010 11:56pm Aug 17, 2010 11:56pm
Quoting The Lord
In the sideways market especially. But in a trending market, smaller bars right off the trendline seems to work.

Big bars are good with PBs and Outside Bars but on compression type setups like IBs and I4+Bs, small is good. . .if that's what you mean.
Indicators show the past. Price Action "Indicates" the future.
  • #72,004
  • Aug 18, 2010 12:00am Aug 18, 2010 12:00am
pinbar.
u missed out something very impt on gbp/usd chart.
draw an ascending trendline from the lows

yes PA will show the way. watch carefully.
heavy confluenced area
  • #72,005
  • Aug 18, 2010 12:02am Aug 18, 2010 12:02am
Quoting jarroo
lol That dumb revenge thing . . I understand all to well Pb.

Also, you know how many people would remove their stop loss and "Hope" it comes back . .well . . lol . .it would of worked on this one, which would have given false confidence and the next one they do that to would never come back.

You did real good, Pb.


You have seen em all no doubt Jarroo.


Yeah, moving the SL went through my mind for a second there, when I mentioned the SL looks a bit tight. LoL

But as you say, it is pure suicide to practice and compound such bad habits.
  • #72,006
  • Aug 18, 2010 12:12am Aug 18, 2010 12:12am
Quoting jarroo
Big bars are good with PBs and Outside Bars but on compression type setups like IBs and I4+Bs, small is good. . .if that's what you mean.
Yeah, exactly.
  • #72,007
  • Aug 18, 2010 12:22am Aug 18, 2010 12:22am
Quoting cprao
Jarroo,

2 questions.
1. When you say - setup break.. how many pips of break approximately on short side ?

2. Entry at 1.5700 is after witnessing any PA bar on lower timeframes ? or is it a touch trade ?

Edit: The 2nd question is kind of answered in the above couple posts. This is my understanding on this- you will look for PA bar ar the expected retracement level in the lower timeframes. However, in this case, I believe it was a touch trade. At least I don't see any good PA setup either in daily or H4 timeframes (FXDD). Is this right ?...
On question #1., I think you're asking on the Weekly GU DBHLC setup itself . . .buffer-wise for a short entry.

Well the DBHLC is trading right into a PPZ level, the 1.5500-25 level. This is where James16's "This is Critical" comes into play . .
Quoting james16

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.


jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu17b.gif Size: 24 KB
Indicators show the past. Price Action "Indicates" the future.
  • #72,008
  • Aug 18, 2010 12:26am Aug 18, 2010 12:26am
Quoting cprao
Jarroo,

2 questions.

2. Entry at 1.5700 is after witnessing any PA bar on lower timeframes ? or is it a touch trade ?

Edit: The 2nd question is kind of answered in the above couple posts. This is my understanding on this- you will look for PA bar at the expected retracement level in the lower timeframes. However, in this case, I believe it was a touch trade. At least I don't see any good PA setup either in daily or H4 timeframes (FXDD). Is this right ?

Your thoughts, please ?
I think I answered your #2. here:

Quoting jarroo
I entered right at the 1.5700 with a 30 pip stop loss, no buffer. The 1.5700 retracement level looked clear to me as well as the quality of the setup.

If bearish PA at the 1.5700 at a lower time frame is presented, you can use a buffer there.


Darn it, I should have shown ertorque this 8 hour BEOB off the 1.5700. . . .which retraced to the previous bar Low . . of course . . .
Indicators show the past. Price Action "Indicates" the future.
  • #72,009
  • Aug 18, 2010 12:39am Aug 18, 2010 12:39am
Quoting Pinbar
Oh, I was talking about the USD/CHF where you mentioned a "Deeper swing low" may have been better.


What I meant was, if on that USD/CHF we had a deeper swing low, I would wonder if it was going to go South.


I don't really get the meanings of these deeper swing lows or highs that I often see you mention.

Here's a couple of James16 charts (Daily Usd/Jpy) that best describes what I mean. . .

You are viewing all of James16's charts frequently, right Pb ?
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Indicators show the past. Price Action "Indicates" the future.
  • #72,010
  • Aug 18, 2010 12:49am Aug 18, 2010 12:49am
Hello Traders!
May I please ask for your opinion on this chart. Trying to see if I could spot some A+ setups.

Would you consider this IB off BRN with DIV as an A+ setups?
Thanks.
Attached Image
  • #72,011
  • Aug 18, 2010 12:57am Aug 18, 2010 12:57am
Quoting Adilius07
Hello Traders!
May I please ask for your opinion on this chart. Trying to see if I could spot some A+ setups.

Would you consider this IB off BRN with DIV as an A+ setups?
Thanks.
If I remember, this setup was traded by SupremeChaos and myself. I liked that setup but as Jaroo pointed out, a bar that shooted above 1.6000 level and returned back would have been nice. The size of bar seems to be a problem but overall A trade, if not A+.
  • #72,012
  • Aug 18, 2010 1:01am Aug 18, 2010 1:01am
Quoting The Lord
If I remember, this setup was traded by SupremeChaos and myself. I liked that setup but as Jaroo pointed out, a bar that shooted above 1.6000 level and returned back would have been nice. The size of bar seems to be a problem but overall A trade, if not A+.
Cool, thanks Lord! As I see on my charts the IB setups work pretty good often times. But of course it is always easy to look at history I would try to spot them in real time.... thanks
  • #72,013
  • Aug 18, 2010 1:03am Aug 18, 2010 1:03am
Quoting The Lord
The size of bar seems to be a problem but overall A trade, if not A+.
I forgot to ask. You mean the smaller the bar the better? (for IB) And this was kinda big IB so was a problem?
  • #72,014
  • Aug 18, 2010 1:06am Aug 18, 2010 1:06am
Quoting Adilius07
Cool, thanks Lord! As I see on my charts the IB setups work pretty good often times. But of course it is always easy to look at history I would try to spot them in real time.... thanks
Regarding inside bars, I prefer a good rejection bar and then an inside bar. I have an example. It almost acts as a pinbar substitute.

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  • #72,015
  • Aug 18, 2010 1:17am Aug 18, 2010 1:17am
Quoting Adilius07
I forgot to ask. You mean the smaller the bar the better? (for IB) And this was kinda big IB so was a problem?
No. I mean the bar before the IB should be a big one, the close being below 6000 looking like a long nose similar to a pinbar.
  • #72,016
  • Aug 18, 2010 1:22am Aug 18, 2010 1:22am
Quoting The Lord
No. I mean the bar before the IB should be a big one, the close being below 6000 looking like a long nose similar to a pinbar.
Cool, clear now. Really yes I should pay more attention to the previous bar. Like you said a nice rejection then an inside bar! Thanks!
  • #72,017
  • Aug 18, 2010 1:24am Aug 18, 2010 1:24am
Quoting jarroo
On question #1., I think you're asking on the Weekly GU DBHLC setup itself . . .buffer-wise for a short entry.

Well the DBHLC is trading right into a PPZ level, the 1.5500-25 level. This is where James16's "This is Critical" comes into play . .
Quote
The setup is at a swing High, off a BRN, 1.6000 but has some traffic : previous bars highs and a strong PPZ level BRN, the 1.5500. I would wait for the setup to break and then react at the traffic levels and enter on the retrace level , previous bar low, 365 ema confluence . .1.5700 ( which I did http://cdn.forexfactory.com/images/s...im/winking.gif).

Jarroo, Sorry. I did not put the question right. on the above when you say " I would wait for the setup to break" - How many pips the price has to go below the low of beob/dbhlc to consider it as a "break". ?
  • #72,018
  • Aug 18, 2010 1:46am Aug 18, 2010 1:46am
Quoting jarroo
Here's a couple of James16 charts (Daily Usd/Jpy) that best describes what I mean. . .

You are viewing all of James16's charts frequently, right Pb ?

Oh, I see, you mean where we have fibo confluence.

As there was no chart and no fibo on the chart I posted, I could not grasp what you meant.


Yes, I am viewing as many as possible.


Thanks Jarroo
  • #72,019
  • Aug 18, 2010 1:57am Aug 18, 2010 1:57am
Quoting miracle16
pinbar.
u missed out something very impt on gbp/usd chart.
draw an ascending trendline from the lows

yes PA will show the way. watch carefully.
heavy confluenced area

Yeah, I know

I was watching it break and retest this TL, that is why I drew only the upper ones as it was also below the top TL and looking to test it.

Thanks
Attached Image (click to enlarge)
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  • #72,020
  • Aug 18, 2010 2:03am Aug 18, 2010 2:03am
Quoting jarroo

Darn it, I should have shown ertorque this 8 hour BEOB off the 1.5700. . . .which retraced to the previous bar Low . . of course . . .
Hey Jaroo, no problem. I see it now.
Darn it, it IS there (the bearish PA) after all. But then again, would never have thought of looking at 8H; just too high for me to be considered a low TF

As usual, great rapport here!

CY
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