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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

  • #79,721
  • Nov 11, 2010 12:09am Nov 11, 2010 12:09am
Quoting jarroo
I liked your 4 hour PB off the 1.2900, but the traffic was too much, a bit too crowded. I would have liked to have seen that at the 1.3000.

Yes, I hear you.
It was really the last thing I could think of to get back into a profitable position and keep me in. I am not going to make a habit of this, in fact this taught me to not just take the break of the weekly BEOB. But, let it go and pullback and show bearish PA at a good confluence area on the daily or H4 in the same direction as the higher TF PA.
  • #79,722
  • Nov 11, 2010 12:17am Nov 11, 2010 12:17am
USD/JPY is looking interesting.
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  • #79,723
  • Nov 11, 2010 12:26am Nov 11, 2010 12:26am
Quoting Pinbar
Hi, Jarroo

EDIT: Yes, I am wondering if it can make the 50 fibo.

Yes. I thought it was possible a bad move yesterday but when I woke up this morning, it was looking like it could make it.

I like my fib levels and 50% retracements (50% is not a Fib) from the most recent swing High and Low points. Also they have to line up with and strong PPZ level, or long term ema or obvious trend line, etc. The clearer the confluence the better. Add some PA to the mix and pull the trigger.

A touch trade was a available at the 61.8 but no clear PA. (the Rac-man comes to mind . .)

You can see your PB was looking good, I don't see anything wrong with taking that bearish PB with the Weekly BEOB on your back. The only thing was the swing High could have been higher (like at the 1.3000) and the traffic, it had a bit of space.
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Indicators show the past. Price Action "Indicates" the future.
  • #79,724
  • Nov 11, 2010 12:49am Nov 11, 2010 12:49am
Quoting Donkey
Adi, I'm in this one too. 1.3000 area is a logical target. I think we need to be aware of the 1.3300 area as the FTA well. The bar has pretty much done as expected, retraced to the BRN and previous bar lows, and moved to FTA.

At this point we can't be surprised if price reverses or if it passes through and turns into resistance. I'll likely be adjusting my stop to just above previous bar high at 1.3750 area. The great thing about the weekly bars is you don't have to be in a rush to make the decision.

Great post D.

I like your 1.3000 target, but if Price can get through and close below the 1.3300, the 1.3150ish looks like the next test.

Looks like the 1.3300 is acting as Support but the 1.3300 may act like your chart when Price was at the 1.3500 . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #79,725
  • Nov 11, 2010 12:51am Nov 11, 2010 12:51am
Quoting jarroo
I like my fib levels and 50% retracements (50% is not a Fib) from the most recent swing High and Low points. Also they have to line up with and strong PPZ level, or long term ema or obvious trend line, etc. The clearer the confluence the better. Add some PA to the mix and pull the trigger.

A touch trade was a available at the 61.8 but no clear PA. (the Rac-man comes to mind . .)

You can see your PB was looking good, I don't see anything wrong with taking that bearish PB with the Weekly BEOB on your back. The only thing...


Yes, this is the chart I posted when I took that PB on Tuesday.

And your post answers my question from the other day as to why the seniors want to see a greater pullback on some PA bars.

That H4 PB closed below the 1.29000 area, the 365 EMA and indeed the close of the weekly BEOB, it also had confluence with the TL, racman style. LOL


Great stuff Jarroo...Many thanks.
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  • #79,726
  • Nov 11, 2010 12:56am Nov 11, 2010 12:56am
Quoting Pinbar
it was something Jacko taught me before he ran off with everyone's cash.
Hey PB, have you received my PM? I did not get any confirmation after clicking the send button.

Man, I did not know that. I was a member of Jacko's private group but stopped reading his blog after a while out of various reasons. I just wondered why I get no more SMSes from him when he entered trades. I always thought this man to be trustworthy.

I'm just reading the last pages of his thread. When it comes to money people do very stupid things (me included). Very disappointed...

(Sorry for the OT)
Thanks J16, Sam Seiden, Udine and Jacko
  • #79,727
  • Nov 11, 2010 1:02am Nov 11, 2010 1:02am
Quoting HanSolo
Hey PB, have you received my PM? I did not get any confirmation after clicking the send button.

Man, I did not know that. I was a member of Jacko's private group but stopped reading his blog after a while out of various reasons. I just wondered why I get no more SMSes from him when he entered trades. I always thought this man to be trustworthy.

I'm just reading the last pages of his thread. When it comes to money people do very stupid things (me included). Very disappointed...

(Sorry for the OT)

Yeah, I just sent you a PM with the story.
But, basically, I asked Jacko a trading question about one of his trade entries, he could not answer it and ignored it, I challenged him on this and he went berserk.
I told him, I was not impressed with the material on his site as there was not even one chart, and demanded my money back.

It is funny, around that time, I was asked by many people via PM which site to join, the J16 or Jacko.
I told them all, to join J16 and stay way from Jacko...Thank the stars, I did.
  • #79,728
  • Edited 2:11am Nov 11, 2010 1:03am | Edited 2:11am
Quoting HanSolo
Hey Nasir, I see you don't have any EMAs on your chart. Don't you use them? The 150EMA maybe would have kept me out of the GBPCHF PB trade.



Hi Jarroo, the hard part is to put that what became 2nd nature to you into words that even total newbies understand. That's an exceptional talent and it makes you a very good teacher. Count me in as one of your book buyers.

lol thanks Hans . .

Keep at it brother . .you'll get there.

One thing I found that helped me was being even more picky about my trades. Meaning, if you think your picky now . . be even more picky about them. I don't think you can be too picky about a trade selection.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #79,729
  • Nov 11, 2010 1:10am Nov 11, 2010 1:10am
I think we are going to get a retest of the upper box area.

Will it hold? I suppose it has the 1.28000 RN in its favor.
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  • #79,730
  • Nov 11, 2010 1:11am Nov 11, 2010 1:11am
Quoting Pinbar
Yes, this is the chart I posted when I took that PB on Tuesday.

And your post answers my question from the other day as to why the seniors want to see a greater pullback on some PA bars.

That H4 PB closed below the 1.29000 area, the 365 EMA and indeed the close of the weekly BEOB, it also had confluence with the TL, racman style. LOL


Great stuff Jarroo...Many thanks.

And the Size wasn't bad either. I just shows that if it hits its target . .protect yourself. Will Price stop you out at break even or a small loss then go in your direction for a 1000 pips . . . it sure will. But the next time it won't and you have perserved your capital to ride it.
Indicators show the past. Price Action "Indicates" the future.
  • #79,731
  • Nov 11, 2010 1:20am Nov 11, 2010 1:20am
Quoting jarroo
And the Size wasn't bad either. I just shows that if it hits its target . .protect yourself. Will Price stop you out at break even or a small loss then go in your direction for a 1000 pips . . . it sure will. But the next time it won't and you have perserved your capital to ride it.

Yes, unfortunately I think it hit the FTA late in the night Japan time so, I was snoozing. Maybe that is another reason to avoid H4 unless it is a good one around the LO.
  • #79,732
  • Nov 11, 2010 1:23am Nov 11, 2010 1:23am
Quoting Pinbar
Yeah, I just sent you a PM with the story.
But, basically, I asked Jacko a trading question about one of his trade entries, he could not answer it and ignored it, I challenged him on this and he went berserk.
I told him, I was not impressed with the material on his site as there was not even one chart, and demanded my money back.

It is funny, around that time, I was asked by many people via PM which site to join, the J16 or Jacko.
I told them all, to join J16 and stay way from Jacko...Thank the stars, I did.
The only thing that bugged me was that I could not find any proof for his highly praised intuition in his posts. Of course he seemed to make money but he was wrong with his predictions ever so much.

Quoting jarroo
One thing I found that helped me was being even more picky about my trades. Meaning, if you think your picky now . . be even more picky about about them. I don't think you can be too picky about a trade selection.
That's probably something I have to get back to after a while. I was very patient in the beginning and started to trade even not so good setups lately. The results are good nonetheless. But I guess after experiencing some serious drawdowns being picky becomes a logical result.

Thanks for your kind words and help, Jarroo.
Thanks J16, Sam Seiden, Udine and Jacko
  • #79,733
  • Nov 11, 2010 1:27am Nov 11, 2010 1:27am
Quoting HanSolo
That's probably something I have to get back to after a while. I was very patient in the beginning and started to trade even not so good setups lately. The results are good nonetheless. But I guess after experiencing some serious drawdowns being picky becomes a logical result.

Thanks for your kind words and help, Jarroo.

lol . .yes a logical result. . . I've been there Hans.
Indicators show the past. Price Action "Indicates" the future.
  • #79,734
  • Nov 11, 2010 1:50am Nov 11, 2010 1:50am
Just watching James 16 trading the mini dow with floor trader pivots.

Very interesting, how he still uses PPZ.

It was funny how he says, these people are taught to buy or sell at the floor trader pivots and that is what they do, it isn't what we do. LOL
  • #79,735
  • Nov 11, 2010 1:52am Nov 11, 2010 1:52am
Quoting Be Cool
Hi Jaroo
What do you think about this chart?
I know you'll love it coz it's full of S&R
I have no idea where to draw the major PPZ. The PB sure looks good though -off Fib, TL & close above 150 ema
How would you look at this chart?

What do I think of this chart or this pair right now . . .A MESS. . . lol

Price is in consolidation as seen on the Weekly and Monthly.

The 1.6200 looks like a strong level, but the whole consolidation choppiness makes it hard to see any clear levels of PPZ or confluences.

Your bullish Daily PB is in the middle of this consolidation . . .best if it was at the bottom of the consolidation.

I would like to see Price break out of the consolidation in either direction (blue lines) and go from there.
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Indicators show the past. Price Action "Indicates" the future.
  • #79,736
  • Nov 11, 2010 1:56am Nov 11, 2010 1:56am
Quoting Pinbar
Just watching James 16 trading the mini dow with floor trader pivots.

Very interesting, how he still uses PPZ.

It was funny how he says, these people are taught to buy or sell at the floor trader pivots and that is what they do, it isn't what we do. LOL

That's a great one . . I'll think I'll watch it again. . . very cool.
Indicators show the past. Price Action "Indicates" the future.
  • #79,737
  • Nov 11, 2010 1:59am Nov 11, 2010 1:59am
Quoting jarroo
And the Size wasn't bad either. I just shows that if it hits its target . .protect yourself. Will Price stop you out at break even or a small loss then go in your direction for a 1000 pips . . . it sure will. But the next time it won't and you have perserved your capital to ride it.

important post that will get passed by. Jarroo knows his stuff !


Don't get hung up on one trade, one movement, one win, one loss

Do it for the overall WHOLE of what you do
  • #79,738
  • Nov 11, 2010 2:09am Nov 11, 2010 2:09am
Quoting jarroo
What do I think of this chart or this pair right now . . .A MESS. . . lol

Price is in consolidation as seen on the Weekly and Monthly.

The 1.6200 looks like a strong level, but the whole consolidation choppiness makes it hard to see any clear levels of PPZ or confluences.

Your bullish Daily PB is in the middle of this consolidation . . .best if it was at the bottom of the consolidation.

I would like to see Price break out of the consolidation in either direction (blue lines) and go from there.
I totally agree with Jarroo. There are long wicks and excessive bars to both sides and lots of gaps in between. Those are signs of a very nervous market and it often happens around big round numbers. Obviously some pairs are prone to this behavior. If you have backtested a situation like this you will know what I mean. Price is very hard to predict and even good setups are easily broken to the "wrong" side. If you trade a market like this one, be prepared to jump out quickly and watch your trade in real time.

Like Jarroo I would rather wait until price breaks out of this nervous environment and shows clear signs of normalization.
Thanks J16, Sam Seiden, Udine and Jacko
  • #79,739
  • Nov 11, 2010 2:09am Nov 11, 2010 2:09am
Quoting mbqb11
important post that will get passed by. Jarroo knows his stuff !


Don't get hung up on one trade, one movement, one win, one loss

Do it for the overall WHOLE of what you do


Yes, he is a million percent right.

And so is Mike when he says, "Don't get hung up on one trade"..!

I got hung up on that AUD/NZD so bad, I had to get back in and teach it a lesson. LoL

Don't think like that line above folks, or you will get back in and get handed a real lesson by the market, like a punch in the nose.
  • #79,740
  • Nov 11, 2010 2:24am Nov 11, 2010 2:24am
Watching this on the Eur/Cad Weekly.

What's even more interesting is the Monthly BUOB . . . previous bar High(s).

You guys know I like these, right? . . lol ..
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Indicators show the past. Price Action "Indicates" the future.
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