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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

  • #75,741
  • Sep 27, 2010 9:36pm Sep 27, 2010 9:36pm
Quoting Fxfighter
Hi Guys,
Anyone traded this Ghous IPB?I think in great location shows up sexi ghous girl(I mean bar) who likes to go down.

Happy trading guys.

FX
no my girl's sexier than a price bar

nice chart though.

g.
I believe . . .
  • #75,742
  • Sep 27, 2010 10:02pm Sep 27, 2010 10:02pm
Quoting james16
i post these from time to time to show you new folks that your dream is possible and give you some confidence.

this guy graciously allowed his username to be included.


Hi Jim,
[color=black][font=Arial]You may not remember me... It's Bob8662. I've been part of the group for about five years. When I first started with you back at Forex Factory before the PF and website I wrote you and said I had a dream of one day being free and trading full time. Well this September that dream became a reality....
Hi,

It was also off the 23.6 fib level. I really like these setups
I guess one needs lots of patience to wait for those to happen (something I have to work on...) It was exactly as one of your first posts in the forum.
I'm working on recognizing these setups as they occur.
Slowly but surely I'm catching up with PA thanks to you and the wonderful people in this forum.


fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
Attached Image (click to enlarge)
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  • #75,743
  • Sep 27, 2010 10:09pm Sep 27, 2010 10:09pm
Quoting stealth
Hello everyone,
....
Hey stealth, welcome aboard Sir!

multi-year lurker just had a multi-year 'breakout'

Quoting Fxknkw987
Pinbar,
May I ask if you have the BRN indicator and the time indicator found below readily available? I am having some difficulty locating them...
....
Hello KK,
how old are u?
i give more leeway to more senior people.

here they are (the first 2 links)
http://www.forexfactory.com/showthread.php?t=216149 (P4L Clock)
http://www.forexfactory.com/showpost...&postcount=677
http://www.forexfactory.com/showpost...ostcount=69186
  • #75,744
  • Sep 27, 2010 10:16pm Sep 27, 2010 10:16pm
Quoting james16
chart
im sorry but i dont understand why you put a buy order there...i dont see any price action there,can you explain?
tnx
Wellcome to the good life!
  • #75,745
  • Sep 27, 2010 10:20pm Sep 27, 2010 10:20pm
Quoting jdl
Yea, I understand what you're saying. My problem is I need to find a NY daily close for charting that offers as many pairs as the broker I'll use for trading.

Right now I use FXLite for charting and another broker for making the trade. My problem is FXLite doesn't offer nearly as many pairs as MB Trading, but I'm hesitant of using MB for charting due to the daily closing time. I'll try FXPro for charting. Thanks.
I am not sure I quite understand the situation here? I am a newb so if someone would elaborate on the situation on how a NY close daily bar might benefit one aspiring trader over another on implementing James16 PA methods?

I also use MB Trading, and I am guessing the NY close is 5 pm? So the daily bars end at 12AM NY time?

Thank you for everyones help,
KK
  • #75,746
  • Sep 27, 2010 10:21pm Sep 27, 2010 10:21pm
it was a pivot retrace entry yar.

very simple.

we teach beginners to wait for bar confirmations but thats not all we do.

its a very simple retrace entry technique based on a price flip from s/r or vice versa.

the key as always is to be picky about the ones we choose to trade.

i will try to post a few more.

jim

Quoting yarin
im sorry but i dont understand why you put a buy order there...i dont see any price action there,can you explain?
tnx
  • #75,747
  • Sep 27, 2010 10:31pm Sep 27, 2010 10:31pm
Quoting supremeChaos
Hey stealth, welcome aboard Sir!

multi-year lurker just had a multi-year 'breakout'


Hello KK,
how old are u?
i give more leeway to more senior people.

here they are (the first 2 links)
http://www.forexfactory.com/showthread.php?t=216149 (P4L Clock)
http://www.forexfactory.com/showpost...&postcount=677
http://www.forexfactory.com/showpost...ostcount=69186
Thank you and sorry, since I am not that old and I received your leeway. I will try harder to look for these and their explanations.

Again thank you for the help,
KK
  • #75,748
  • Sep 27, 2010 10:34pm Sep 27, 2010 10:34pm
Quoting Fxknkw987
I am not sure I quite understand the situation here? I am a newb so if someone would elaborate on the situation on how a NY close daily bar might benefit one aspiring trader over another on implementing James16 PA methods?

I also use MB Trading, and I am guessing the NY close is 5 pm? So the daily bars end at 12AM NY time?

Thank you for everyones help,
KK
Hey KK

Many people use various closes, since FX market is not a centralized market. I use a 5pm est close as I believe it is sort of the unofficial official close. Considering after this time the 2 most inactive sessions begin. Thus you bar is going to change and closed based off these less active/liquid sessions. So is it wrong to use a different close? Certainly not. This a belief thing for myself and others. I don't think it will make a huge difference in the long run from a 5pm -7pm or so close. After that I will start to have some doubts though.

Best
Mike
  • #75,749
  • Sep 27, 2010 10:37pm Sep 27, 2010 10:37pm
Quoting james16
chart
James,

First thanks again for all the help you have provided and the priceless information you share on this thread day in and day out.

Second, on the chart you posted with the comment on the 3500, do you see this as a more probable case due to the past 6 month momentum?

Thank you,
  • #75,750
  • Sep 27, 2010 11:09pm Sep 27, 2010 11:09pm
Quoting james16
it was a pivot retrace entry yar.

very simple.

we teach beginners to wait for bar confirmations but thats not all we do.

its a very simple retrace entry technique based on a price flip from s/r or vice versa.

the key as always is to be picky about the ones we choose to trade.

i will try to post a few more.

jim

Here's one Jim, that's pretty cool, on the Daily Eur/Aud.


Price falls and finds Support around the 1.4000 (red arrow, green box).

Price bounces upward hard and then fallls again and finds Support at the 1.4000 (purple box).

Price breaks through Support (yellow box), the 1.4000. We now look for Price to act as strong Resistance that was once strong Support ( blue box), at the 1.4000.


Currently the 1.4000 is acting as Support again. The two bullish PBs on the 4 hour could be confirming this new Support, although a bit of traffic and the 150 ema not helpng it run. But as we can see, the two PBs hit their target.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #75,751
  • Sep 27, 2010 11:51pm Sep 27, 2010 11:51pm
The quiet before the storm...



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #75,752
  • Sep 28, 2010 12:43am Sep 28, 2010 12:43am
Quoting Fxknkw987
..since I am not that old and I received your leeway. I will try harder to look for these and their explanations.
...
ooops
are u younger than me?
sorry.
anyway, u will find it's actually easy as u go along. just takes time
  • #75,753
  • Sep 28, 2010 1:03am Sep 28, 2010 1:03am
This post is in response to the recent EUR/USD chart J16 had posted in the "James16 is not credible thread". I had originally sent this as an email but have been asked to post this in the free thread. I have assumed it to be this one. Hopefully someone or James can help out. Link and original chart image have been included.

EUR/USD:
http://www.forexfactory.com/showpost...&postcount=769

Quoting james16
trade update
Hey J16,

I have followed this forum and your posts for a long time. It is unfortunate that there is such negativity flowing, especially when all of this information is being shared for free! You and many other contributors post such refreshing ideas and strategies it is great to read.

I was going to post in the forum, but though I may send you a message directly first. Happy to be redirected else where or take this public if your prefer.

The EUR/USD trade you have been posting has been really helpful. I had some questions. Again, redirect me to your thread if easier. There is so much information I get lost!

1 - Entry

Would a valid entry be on the 24/09 daily candle? This was a bullish bar that moved above the earlier inside bar AND above 1.3400. Plus it broke the earlier high from early August 2010 two bars before (22/09).

2 - Old Resistance

In early 2010, there was a clear down trend. What consideration is needed 1.32 to 1.38 range? Does this not matter assuming the upward trend continues?

3 - Adding to Positions

When adding to your position, do you look for the same entry setup or are different rules applied?

4 - Stop Loss

Where is the initial stop loss placed? (is this in fixed pips or earlier area of interest?)

And when is it moved?

I have many more questions but hoping I can get these answered. I will continue reading the thread. Good luck in the forum (not that you need it) and hope the focus can be brought back to making trading achievable for us newbies!

Cheers,

dmuk
Attached Image
  • #75,754
  • Sep 28, 2010 1:31am Sep 28, 2010 1:31am
Quoting dmuk
This post is in response to the recent EUR/USD chart J16 had posted in the "James16 is not credible thread". I had originally sent this as an email but have been asked to post this in the free thread. I have assumed it to be this one. Hopefully someone or James can help out. Link and original chart image have been included.

EUR/USD:
http://www.forexfactory.com/showpost...&postcount=769



Hey J16,

I have followed this forum and your posts for a long time. It is unfortunate that there is such negativity flowing,...

Hey dmuk,

As James stated this was a pivot or touch type trade at the 1.3300. No bar or PA setup was involved.

You are correct, in early 2010 Price acted as Support at the 1.3300. Then in Aug, Price moved up to previous Support and acted as Resistance.

Last week Price broke through this PPZ level or previous Resistance, the 1.3300 and went up to the 1.3400ish level. Price began to retrace from the 1.3400 and guess where Price would find Support again after it broke Resistance?? you guess it right . .at the 1.3300 .. .that was the entry.

The stop loss was tight at this level . .probably 25-30 pips. Once price started moving back up , . . I'm sure James moved his stop loss to break even pretty quick.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #75,755
  • Sep 28, 2010 1:42am Sep 28, 2010 1:42am
Quoting dmuk

3 - Adding to Positions

When adding to your position, do you look for the same entry setup or are different rules applied?

4 - Stop Loss

Where is the initial stop loss placed? (is this in fixed pips or earlier area of interest?)

And when is it moved?

I have many more questions but hoping I can get these answered. I will continue reading the thread. Good luck in the forum (not that you need it) and hope the focus can be brought back to making trading achievable for us newbies!

Cheers,

dmuk
Adding to this position or adding to any position after your in the money, . .I personally would need a quality type setup just like the one that I got into in the firat place. . . meaning my rules for an entry do not change.

As I said, the stop loss on these type of entries are pretty tight and moving to break even quickly is a given, for me.

Once Price broke the 1.3400, which was also a earlier PPZ level, I would move my stop loss under that and see if Price could break through the 1.3500 and find new Support there. . . which I believe James is currently doing.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #75,756
  • Sep 28, 2010 1:59am Sep 28, 2010 1:59am
Quoting dmuk
This post is in response to the recent EUR/USD
Cheers,

dmuk

Check out this chart from a recent post from James16 on the Daily Eur/Chf :

Quoting james16
chart
This is a similar situation as the 1.3300 on the Eur/Usd.

The 1.3100 and 1.3150ish are PPZ levels and Price has broken through these levels pretty hard indicated by a good size BUOB.

As you can see, Price has acted as previous Resistance at these levels. Also previous Support. Guess where Price may find Support after it has broken through these level? Let's watch and find out . .shall we.
Attached Image (click to enlarge)
Click to Enlarge Name: eurochf28.jpg Size: 91 KB
Indicators show the past. Price Action "Indicates" the future.
  • #75,757
  • Sep 28, 2010 2:05am Sep 28, 2010 2:05am
Quoting BlueTurtle
Hi all, I am new. just joined this forum, have been reading this thread for a few weeks, plan to start practice Pinbar, Price Action, daily chart on demo.

I have two questions:

1) How close between two fib ret. levels become a valid "confluence"? 5 pips, 10 pips? or it all depends which timeframe we looking at.

2) what do anyone think about chfjpy? good pinbar?(more importantly, at good location?)...

Blueturtle posted this chart 9hrs ago and it shows a beautiful pin par.

But....When I pulled up my chart this is what I see - so its a no trade for me.

Attached Image (click to enlarge)
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Now I know that this is bcos of the different timezones, but how can we have any confidence in the bars when half the world is seeing a different chart to the rest.

Would appreciate a response from some of the seniors around here.
  • #75,758
  • Sep 28, 2010 2:10am Sep 28, 2010 2:10am
Like this 1 Hour EUR/GBP for a few reasons,

BEOB engulfing a range of bars at a big round number with a strong bearish close
Breakout of a recent wedge
Break of an I4B (at a BRN) on the daily

Jonny
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  • #75,759
  • Sep 28, 2010 2:11am Sep 28, 2010 2:11am
Quoting stewrigh
Blueturtle posted this chart 9hrs ago and it shows a beautiful pin par.

But....When I pulled up my chart this is what I see - so its a no trade for me.

Attachment


Now I know that this is bcos of the different timezones, but how can we have any confidence in the bars when half the world is seeing a different chart to the rest.

Would appreciate a response from some of the seniors around here.

I'm not sure what Plat you're using but your chart doesn't show Price reaching the 86.50 level. I believe that feed is bad.
Indicators show the past. Price Action "Indicates" the future.
  • #75,760
  • Sep 28, 2010 2:14am Sep 28, 2010 2:14am
Quoting Jonnyislost
Like this 1 Hour EUR/GBP for a few reasons,

BEOB engulfing a range of bars at a big round number with a strong bearish close
Breakout of a recent wedge
Break of an I4B (at a BRN) on the daily

Jonny
Attached Image (click to enlarge)
Click to Enlarge Name: eg28.jpg Size: 104 KB
Indicators show the past. Price Action "Indicates" the future.
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