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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

  • #73,901
  • Sep 3, 2010 9:57pm Sep 3, 2010 9:57pm
Quoting Pinbar
Just a bit of weekend chart fun.

I decided to put a salmon colored rectangle on the weekly negative bars, meaning the close is lower than the open. Just covered half of the vertical bar and dragged it to the right. Green are the positive bars.



Look what happens when we drop down to D1 & H4.

The overlapping colors seem to show us PPZ areas.

kind of interesting.

Maybe the High-Low Open-close will show something else.
On the right track even at 40C is Mr. Pin bar

g.
I believe . . .
  • #73,902
  • Sep 3, 2010 10:00pm Sep 3, 2010 10:00pm
Quoting Pinbar
Just a bit of weekend chart fun.

I decided to put a salmon colored rectangle on the weekly negative bars, meaning the close is lower than the open. Just covered half of the vertical bar and dragged it to the right. Green are the positive bars.



Look what happens when we drop down to D1 & H4.

The overlapping colors seem to show us PPZ areas.

kind of interesting.

Maybe the High-Low Open-close will show something else.
  • #73,903
  • Sep 3, 2010 10:35pm Sep 3, 2010 10:35pm
My pick for monday!

The more I see it, the more I like it. Its rejected off BRN 85. Its rejected from 61.8 fib of the previous high. Its rejected from a good resistance. Its in a strong downtrend. And did I mention a clean traffic area. What else?
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  • #73,904
  • Sep 3, 2010 10:37pm Sep 3, 2010 10:37pm
Quoting ghous
On the right track even at 40C is Mr. Pin bar

g.

Not so sure about the right track but the temp is correct.


And I have to go to a Japanese funeral today.

I hate it because after everyone has watched the smoke coming out of the crematorium then, they take the Adam's apple bones and pass them around from chopsticks to chopsticks in pairs of people! Can you believe that? It is true.
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  • #73,905
  • Sep 3, 2010 10:39pm Sep 3, 2010 10:39pm
Quoting Pinbar
Nice BEOB PB type PA on weekly.

Monthly PPZ is a bit close.
Nice chart Pb. I will be watching it.
  • #73,906
  • Sep 3, 2010 10:56pm Sep 3, 2010 10:56pm
Quoting The Lord
My pick for monday!

The more I see it, the more I like it. Its rejected off BRN 85. Its rejected from 61.8 fib of the previous high. Its rejected from a good resistance. Its in a strong downtrend. And did I mention a clean traffic area. What else?
Attachment
I agree on the points of
1) down trend 2) Rejected by 85 3) Bar size for me looks ok.

What I don't like is - 1) close is not below the open.. the bar closed as green rather than red. 2) the bar is still in the consolidation zone. 3) I am not sure - it showing some divergence or not ?
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  • #73,907
  • Sep 3, 2010 11:02pm Sep 3, 2010 11:02pm
Quoting Pinbar
Not so sure about the right track but the temp is correct.


And I have to go to a Japanese funeral today.

I hate it because after everyone has watched the smoke coming out of the crematorium then, they take the Adam's apple bones and pass them around from chopsticks to chopsticks in pairs of people! Can you believe that? It is true.
Huh, first time i've heard of a funeral like that. I'm guessing the Adam's apple is symbolic to the Japanese then..Learn something new everyday.
  • #73,908
  • Sep 3, 2010 11:10pm Sep 3, 2010 11:10pm
Quoting Ace284
Huh, first time i've heard of a funeral like that. I'm guessing the Adam's apple is symbolic to the Japanese then..Learn something new everyday.

Yeah, the shape of the Adam's apple is like a Buddha so they call it the NODO BOTOKE or throat Buddha.

Have to make sure I eat before I go, don't want to end up snacking. LOL


I hardly know the person, a friends mother died a couple of days ago.



-----------------------------------------------------
The coffin is placed on a tray in the crematorium. The family witnesses the sliding of the body into the cremation chamber. A cremation usually takes about two hours, and the family returns at a scheduled time when the cremation has been completed. According to the Yamaguchi Saijo Funeral Parlor and Crematorium in Sapporo, it takes about an hour and a half to cremate an adult body, 45 minutes for a child, 15 minutes for a stillborn baby.
The relatives pick the bones out of the ashes and transfer them to the urn using large chopsticks or metal picks, two relatives sometimes holding the same bone at the same time with their chopsticks (or, according to some sources, passing the bones from chopsticks to chopsticks). This is the only time in Japan when it is proper for two people to hold the same item at the same time with chopsticks. At all other times, holding anything with chopsticks by two people at the same time, or passing an item from chopsticks to chopsticks will remind all bystanders of the funeral of a close relative and is considered to be a major social faux pas. The bones of the feet are picked up first, and the bones of the head last. This is to ensure that the deceased is not upside down in the urn. The hyoid bone (a bone located in the neck) is the most significant bone to be put in the urn.
  • #73,909
  • Sep 3, 2010 11:11pm Sep 3, 2010 11:11pm
Quoting The Lord
Nice chart Pb. I will be watching it.

Yeah, some traffic around it seems.
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  • #73,910
  • Sep 4, 2010 1:14am Sep 4, 2010 1:14am
Quoting ghous
Now where is Dan (Gilbert)?

He's probably having a weekend beer or two or cycling down a thrilling rocky hill so I'll leave this here for when he comes back.

g.
I have been VERY BUSY!

but, I do not trade EUR/CHF because of all the intervention on that pair.

Also, earlier this week I decided since it was NFP, I would rather just stay away from the markets until after labor day weekend.... This weekend I will engage in some outdoor activities!
Many choose unhappiness over uncertainty.
  • #73,911
  • Edited 3:56am Sep 4, 2010 2:33am | Edited 3:56am
Hi guys, any views on this PB?? Fit most of my criteria:

1) Fibo tracement @ 61.8%
2) PPZ.

Failed reversal

http://img14.imageshack.us/img14/391...edreversal.jpg

Uploaded with ImageShack.us

Thx.
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  • #73,912
  • Edited 2:50am Sep 4, 2010 2:49am | Edited 2:50am
I was searching the thread for the BRN indicator....from reading during the last few months I remember there is 1 which is very resource intensive and another one.

Could you possibly send me the link to that post, or what do you use now ? ( eg Mike, benji )

Many thanks in advance and everyone a nice extend. weekend !
Be like water.
  • #73,913
  • Sep 4, 2010 3:16am Sep 4, 2010 3:16am
I think this is the indicator you are talking about

Quoting msmarple
I was searching the thread for the BRN indicator....from reading during the last few months I remember there is 1 which is very resource intensive and another one.

Could you possibly send me the link to that post, or what do you use now ? ( eg Mike, benji )

Many thanks in advance and everyone a nice extend. weekend !
Attached File(s)
File Type: ex4 Grid_v1_0.ex4   5 KB | 446 downloads
  • #73,914
  • Sep 4, 2010 3:21am Sep 4, 2010 3:21am
Quoting cprao
close is not below the open.. the bar closed as green rather than red. 3) I am not sure - it showing some divergence or not ?
You may be right.

But I think the bar closed as green is not a problem. All I look at is whether or not the bar closed below the S/R (if any) and below the prior bar, because IMO few pips up/down doesn't mean certain price is not rejected. In short, rejection is in the nose, not the body. Just my opinion..

Regarding divergence, I only use that in countertrend trades. It should not be a problem. Maybe I am wrong, but I learnt that from Jankone's 5 minute thread.
  • #73,915
  • Sep 4, 2010 4:19am Sep 4, 2010 4:19am
Quoting LiuLangZe
Hi guys, any views on this PB?? Fit most of my criteria:

1) Fibo tracement @ 61.8%
2) PPZ.

Failed reversal



Uploaded with ImageShack.us

Thx.
I am trying to look at this from every angle yet it seems like a bar that worked out fine - more than fine I'd say.

When it broke it went straight to where you should expect it to go, and because technically a pin bar is only invalidated when it's low (in case of a bullish PB such as this one) is breached you can say it worked out more than fine because price without taking out the low actually resumed the whole move right off that Pb. So in terms of this pin bar working as a reversal bar - it did that very well.

Coming to the trading part. Given that it made it to the FTA this can't be a full bar loss trade for any trader in the right frame of mind. For me personally at worst this would have been a BE trade.

Again like I said this was a winning trade from all angles.

g.
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I believe . . .
  • #73,916
  • Sep 4, 2010 4:23am Sep 4, 2010 4:23am
Quoting Pinbar
Not so sure about the right track but the temp is correct.


And I have to go to a Japanese funeral today.

I hate it because after everyone has watched the smoke coming out of the crematorium then, they take the Adam's apple bones and pass them around from chopsticks to chopsticks in pairs of people! Can you believe that? It is true.
Damn man!
I believe . . .
  • #73,917
  • Sep 4, 2010 4:32am Sep 4, 2010 4:32am
Quoting The Lord
My pick for monday!

The more I see it, the more I like it. Its rejected off BRN 85. Its rejected from 61.8 fib of the previous high. Its rejected from a good resistance. Its in a strong downtrend. And did I mention a clean traffic area. What else?
Attachment
"A clean traffic area" would be the only point of contradiction for me. I mean if we bounce off those bar lows (absolute swing low) you shouldn't be surprised.

g.
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I believe . . .
  • #73,918
  • Sep 4, 2010 5:43am Sep 4, 2010 5:43am
Quoting ghous
"A clean traffic area" would be the only point of contradiction for me. I mean if we bounce off those bar lows (absolute swing low) you shouldn't be surprised.

g.
Thanks for commenting ghous.

My line was drawn little bit lower than yours. But, anyway, there is 15 to 20 pips where I will immediately take half profit and move to breakeven. A very quick pips!
  • #73,919
  • Sep 4, 2010 5:53am Sep 4, 2010 5:53am
Quoting LiuLangZe
Hi guys, any views on this PB?? Fit most of my criteria:

1) Fibo tracement @ 61.8%
2) PPZ.

Failed reversal

http://img14.imageshack.us/img14/391...edreversal.jpg

Uploaded with ImageShack.us

Thx.

This is Pinbar against trend, small size and close below 0.8500 BRN.
Has not 'failed in its objective, it has not been touched the low of the bar.
However, it was a trade at high risk.
Much better Buob on 06 Jul with close above mentioned BRN
  • #73,920
  • Sep 4, 2010 6:22am Sep 4, 2010 6:22am
Quoting ppfx
Hi Maverick and welcome to this thread. Id suggest you to start with post #1 and then going through the first 100 pages or so (where you see j16 charts explained) and then you have Cyrus summaries where you can find seniors posts over this thread, and then you should go through the free videos at the Guest section... When you go through all that material you should have an idea about j16 method. Thats...
Thank you verymuch brother.
I'll sure get busy with your suggestions above.

Thanks again.
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