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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

  • #77,661
  • Oct 18, 2010 12:43am Oct 18, 2010 12:43am
Quoting supremeChaos
i remember that post/chart.

personally i consider a presence of divergence even if it forms from non-consecutive swing high/lows.(that chart as an example)
i dont always play by the rules.

u have to test it out yourself, see what u are comfortable with.
Hello SC, thanks for reply. But that could make a huge difference!!! Hhmm.. what is the book version of it?
  • #77,662
  • Oct 18, 2010 1:15am Oct 18, 2010 1:15am
My plan was to go with shorting EU on Friday. 1/2 position at the 1.4000 and 1/2 at the break. I changed to to 1 position on 1.4000 retrace and 1 postion of the 1.6000 retrace of GU. GU was triggered and EU didn't.

If GU pinbar is confirmed with a strong closed under the closed on Friday then does that mean double-top formation is confirmed also? Do we put any emphasis on formations in J16 studies?

I also took the UCHF trade. I understand going long on UCHF is a bit risky but SL is tolerable.

But GU and UCHF=3% risk. I would add to my positions if this is a reversal for a new trend.

On my chart, first trouble area for GU is a blue dotted line and for UCHF is the .9700 level.

Any thoughts?
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  • #77,663
  • Oct 18, 2010 1:18am Oct 18, 2010 1:18am
Quoting Adilius07
... But that could make a huge difference!!! Hhmm.. what is the book version of it?
i havent decided on the title.

it's either 'Fat tail with Outliers' or
'Outlier with Fat tails'


the book's out when the Fed is dissolved.
  • #77,664
  • Oct 18, 2010 1:24am Oct 18, 2010 1:24am
Quoting supremeChaos
i havent decided on the title.

it's either 'Fat tail with Outliers' or
'Outlier with Fat tails'


the book's out when the Fed is dissolved.

lol, I just looking at my MACD's now, and I see that it make a huge difference if I see div as consecutive lows only or whatever other extreme I choose... if I want to take counter trend trades with div only, I nee to understand it...
  • #77,665
  • Oct 18, 2010 1:30am Oct 18, 2010 1:30am
Quoting Adilius07
lol, I just looking at my MACD's now, and I see that it make a huge difference if I see div as consecutive lows only or whatever other extreme I choose... if I want to take counter trend trades with div only, I nee to understand it...

That is why I use the MACD Div indicator.

Takes the brainwork out of it.


Shout if you want it.

I also put a regular MACD inside this indicator as I like to see the bars instead of just two lines.
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  • #77,666
  • Oct 18, 2010 1:33am Oct 18, 2010 1:33am
Quoting Pinbar
That is why I use the MACD Div indicator.

Takes the brainwork out of it.
I tried some RSI Div. I saw it uses last two consecutive lows. I really thought that was some error until I saw that post... now I am confused.
  • #77,667
  • Oct 18, 2010 1:38am Oct 18, 2010 1:38am
Quoting Adilius07
I tried some RSI Div. I saw it uses last two consecutive lows. I really thought that was some error until I saw that post... now I am confused.

Give it a spin around the block.

There is a newer version of this but, I don't like it because it does not match up with the regular MACD which everyone is watching. Mike mentioned this to me once.


Just drag and drop the regular MT4 MACD into the same window and it will look exactly line mine.
Just make sure you put the Div indicator in as the first indicator.


You can turn on or off, Div price TL or indicator TL and also disable the alarm if you like.
Attached File(s)
File Type: mq4 MACD_Divergence_V1.1.mq4   12 KB | 334 downloads
  • #77,668
  • Oct 18, 2010 1:41am Oct 18, 2010 1:41am
Quoting Pinbar
Give it a spin around the block.

There is a newer version of this but, I don't like it because it does not match up with the regular MACD which everyone is watching. Mike mentioned this to me once.


Just drag and drop the regular MT4 MACD into the same window and it will look exactly line mine.
Just make sure you put the Div indicator in as the first indicator.


You can turn on or off, Div price TL or indicator TL and also disable the alarm if you like.
ok, thank you Pinbar, gonna try it right now!
  • #77,669
  • Oct 18, 2010 1:43am Oct 18, 2010 1:43am
Quoting fxamerica
My plan was to go with shorting EU on Friday. 1/2 position at the 1.4000 and 1/2 at the break. I changed to to 1 position on 1.4000 retrace and 1 postion of the 1.6000 retrace of GU. GU was triggered and EU didn't.

If GU pinbar is confirmed with a strong closed under the closed on Friday then does that mean double-top formation is confirmed also? Do we put any emphasis on formations in J16 studies?

I also took the UCHF trade. I understand going long on UCHF is a bit risky but SL is tolerable.

But GU and UCHF=3% risk. I would add to my positions...
UCHF did not carry as much up momentum as I thought. I move SL to BE before London open. If stop out, I would enter again at .95424 left eye.
  • #77,670
  • Oct 18, 2010 1:50am Oct 18, 2010 1:50am
Quoting Pinbar
Give it a spin around the block.

There is a newer version of this but, I don't like it because it does not match up with the regular MACD which everyone is watching. Mike mentioned this to me once.


Just drag and drop the regular MT4 MACD into the same window and it will look exactly line mine.
Just make sure you put the Div indicator in as the first indicator.


You can turn on or off, Div price TL or indicator TL and also disable the alarm if you like.

I see this indicator uses the same logic as I had before. Not neccessarily the consequitive lows so I will stay with my thinking...
sometimes I create unneccessary problems...
Ok thanks!
  • #77,671
  • Oct 18, 2010 1:59am Oct 18, 2010 1:59am
Good day all can any one please explain in details the function of :

Bullish outside bar

Bearish Outside bar

Bullish inside bar

Bearish inside bar


much love.
If you don't control your emotion it will control you.
  • #77,672
  • Oct 18, 2010 2:09am Oct 18, 2010 2:09am
Quoting Pinbar
Thanks for the fundamentals GH.
I don't generally pay much attention to these, I should perhaps and the correlation between pairs.

Still trying to get my head together with PA.
US dollar is on everyone mouths now and the funny thing about bloomberg tv is...;] When they are exstatic about USD gains or losses then you can be pretty sure that correction is just behind the corner.
  • #77,673
  • Oct 18, 2010 3:01am Oct 18, 2010 3:01am
Quoting mbqb11
Hey Taz...
Hey Mike Great Words,
You really are a man of principles,looking at the fall that took place on these bars,i think anyone who missed them missed something big.lol
But as time and time again i see you just passing a bar just because it does not meet criteria 100 % is what is the great part.Hope i have that patience.

Yeah i really believe these rules you have very tight but they may be worthy of home-runs,waiting for words from you.
Your last couple of posts have been a revelation to me.
Whenever i see your post it reminds me of James words:
If this happens and this happens and this happens only then i will take this setup otherwise not.
Hope to learn more.
  • #77,674
  • Oct 18, 2010 3:55am Oct 18, 2010 3:55am
Quoting mbqb11
Hey Taz...

Hey Mike, the EU BEOB closed under the low of the previous bar on my IBFX feed.
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  • #77,675
  • Oct 18, 2010 4:30am Oct 18, 2010 4:30am
Hey guys,

I came across this BEOB on the GBPCHF pair that engulfed 3 previous bars, at a minor swing high with ppz and 1.530 confluence.

However, it was trading right into the little consolidation as shown by the blue box.

Good structure but bad location. Not a good trade to be in. Any thoughts?
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  • #77,676
  • Oct 18, 2010 4:52am Oct 18, 2010 4:52am
Quoting melvin87
Hey guys,

I came across this BEOB on the GBPCHF pair that engulfed 3 previous bars, at a minor swing high with ppz and 1.530 confluence.

However, it was trading right into the little consolidation as shown by the blue box.

Good structure but bad location. Not a good trade to be in. Any thoughts?
Wassup my friend, agree that you're trading right into the box of consolidation, not a good trade to take in my opinion, should you take this trade be mindful of the 1.52 PPZ and shift SL to BE fast. Mike or any other traders, would you guys take this trade for a quick profit especially when the Daily is on a downtrend?
  • #77,677
  • Oct 18, 2010 4:55am Oct 18, 2010 4:55am
Quoting melvin87
Hey guys,

I came across this BEOB on the GBPCHF pair that engulfed 3 previous bars, at a minor swing high with ppz and 1.530 confluence.

However, it was trading right into the little consolidation as shown by the blue box.

Good structure but bad location. Not a good trade to be in. Any thoughts?
Hi melvin, I would say there are some mixed signals coming from that bar. It is a BEOB by definition, but the bar structure is far from the ideal. You can see that the close ended up more or less half way up the bar giving it an almost bullish look in the way it bounced from that consolidation you mentioned. Ideally we want the close to be right near the bottom of the bar, to indicate that the move down had some conviction behind it. one to avoid in my book
  • #77,678
  • Oct 18, 2010 5:07am Oct 18, 2010 5:07am
Quoting leelar
Learning from James' #2 #3 posts on Two Consecutive Matching Low, sign of break out?

Am I learning the right thing here?

Trade 1:
0.2 unit on micro lot, Entry: 81.38, SL: 81.73, TP: 80.85, plan to take 1/2 near 81.85, will move the SL to BE, then trial the SL afterward.

http://1.bp.blogspot.com/_0b6cSta63s...1010170732.gif

Trade 2:
0.2 unit on micro lot, Entry: 129.48, SL: 130.32, TP: 128.61, plan to take 1/2 near 128.61, will move the SL to BE, then trial the SL afterward for the rest of...
For the first trade the price has not break the low of the double bar.
what make you enter the trade?
much love

Emmanuel
If you don't control your emotion it will control you.
  • #77,679
  • Oct 18, 2010 5:08am Oct 18, 2010 5:08am
Massive support from the 80.00 but it looks a little like it's hanging on by it's fingernails. Can't wait to see how how this channel is resolved
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  • #77,680
  • Edited 6:24am Oct 18, 2010 6:06am | Edited 6:24am
Quoting Jonnyislost
Massive support from the 80.00 but it looks a little like it's hanging on by it's fingernails. Can't wait to see how how this channel is resolved

Yeah, JL, I have had my eye on this consolidation for a few days.

Now it looks like it is going to give us a BUOB off the low and the 50 fibo, on H4.



EDIT: Has a more bullish feel to it right now.
A look at the weekly shows it above all the bar highs on the left.
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