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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

  • #85,161
  • Jan 10, 2011 2:52pm Jan 10, 2011 2:52pm
Quoting Pinbar
Yes, I think you are right Ghous.

This is a much better example, I think.
So your first example should have been an IPB for what you were trying to show ADI, correct?
  • #85,162
  • Jan 10, 2011 2:57pm Jan 10, 2011 2:57pm
Quoting mbqb11
very good john

here was a chart I emailed someone
So it really worked out perfectly already I think. It reached that BRN. What else can we expect from the bar heading into BRN and so much traffic (those bar highs/lows)

So one should be at lest at BE by now... I think
  • #85,163
  • Jan 10, 2011 3:46pm Jan 10, 2011 3:46pm
Quoting Dan Gilbert
my second trade of 2011.

I hope these two charts don't need any more explanation that what is on them. Risked 0.5%

FIRST CHART IS WEEKLY, SECOND CHART IS 4 HOUR ZOOMED IN TO SHOW ENTRY.
Beautiful Dan, simply beautiful.

For a touch trade like this, where do you place your stop loss?

Thanks!
  • #85,164
  • Jan 10, 2011 3:58pm Jan 10, 2011 3:58pm
Quoting unlv_tj
Beautiful Dan, simply beautiful.

For a touch trade like this, where do you place your stop loss?

Thanks!
considering that I anticipated the reversal to be at that 3 day low TO THE PIP, I think giving it any more than 40 pips is incorrect because of my expectation.

if price doesn't do what you think it will, as fast as you think, why should you sit there and just hope for it? Price action = momentum. strong S/R is only truly strong if it works.
Many choose unhappiness over uncertainty.
  • #85,165
  • Jan 10, 2011 4:57pm Jan 10, 2011 4:57pm
Check this out guys..

This is why seniors emphasize in.. stop loss... max 2% per trade, BUOB at swing lows etc...

http://english.aljazeera.net/video/a...019555446.html

Os.
Trade Smart
  • #85,166
  • Jan 10, 2011 5:37pm Jan 10, 2011 5:37pm
Quoting Dan Gilbert
my second trade of 2011.

I hope these two charts don't need any more explanation that what is on them. Risked 0.5%

FIRST CHART IS WEEKLY, SECOND CHART IS 4 HOUR ZOOMED IN TO SHOW ENTRY.
I took the same trade on demo though My reasoning was a pullback based entry of that weekly BEOB right @ the previous weekly bar low, I wanted to preempt the break of that BEOB ............ price gave me a sell trigger via a beautiful 1H-PB @ the already mentioned previous weekly bar low, obvious FTA would be the low of that BEOB ..............
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Pipcrawler
  • #85,167
  • Jan 10, 2011 8:17pm Jan 10, 2011 8:17pm
Quoting Kalbar
Jarroo

just wanted to ask what was your critique of the daily PB at the swing low on this pair? Would you have considered this? Good close above the BRN.
Quoting supremeChaos
Hello Kalbar,

i would've considered it... but most likely on a lower timeframe.
that was a small daily PB, but nice location (extreme swing low + wide space to the left of that downmove). as u can see the PB broke with nice momentum.
also, that PB might have looked much better (&/or different) on another broker.
If I were to consider this small PB, the 2.0000 VBRN would be its main reason. I did not trade this one.

If this PB was not off a BRN, an easy pass. Being that is was too small compared to the size of the move down would also make it an easy pass.

As a locational setup off the 2.0 . . .as sChaos said . .its at a swing Low providing some good Space. And it did close above the 2.0.

This would be more of a scalp type play for me . .meaning I would be looking for a hard break of the PB. . .Being very aware of the immediate targets, previous bar Highs/Lows (blue Lines). . .Looking for Price to closes above those levels on a lower time frames, like the 4 Hour and Hourly.

No way a full bar loss on this one . . initial stop loss would be under the 2.0 then moved below blue line targets once Price broke through and closed above them.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,168
  • Jan 10, 2011 8:21pm Jan 10, 2011 8:21pm
Quoting Pinbar
Ah well,,,,,I will be in bed when he gets back and I wanted to congratulate him.

EDIT: I just cracked a bottle of Bordeaux to celebrate so, I will be in bed when Jim gets back.


Congratulations Jim!

Man, there must be a lot of happy people around that you have taught over the years Jim!


Thanks Pb.

I don't how many people I have taught the ways of James16, or Mike's ways or many others that are here . .like ghous' IPBs . .

But I do know one thing . . the one who has learned the most in doing so. . .that would be me.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #85,169
  • Jan 10, 2011 8:29pm Jan 10, 2011 8:29pm
Quoting ghous
VBRNs often tend to work like 'zones'...we have stops, orders, option protection everything lining up at them.

The bulls look strong though...I normally don't predict waves in the market but this is one market I am betting will shoot to the moon.

g.

Strong close above . .very little retrace . . and to the moon.


Thanks G.
Indicators show the past. Price Action "Indicates" the future.
  • #85,170
  • Jan 10, 2011 8:53pm Jan 10, 2011 8:53pm
Quoting jarroo
Hey Ken . .

That is a great line . . "I am always trying to judge quality of PA within 5~10 second. If I can`t do it within 10 second , then simply I pass that pair. " For those of you that think its hard to analyze 40 to 50 pairs/instruments or more, here's a way to help you through them . . .


If I may make a suggestion . .

and please Ken, I do not want you to take this the wrong way, your trading plan is good and it fits you great. . .

But much of the core of that James16 teaches lies with the PPZ levels . .where...
Thanks for your suggestions sir.
Actually, that was my one of dream(sorry my English, I don`t know any other word match more for my feeling now) to get your comment since I ve started learning in this thread. I am a little bit exciting with it .hahaha

and now, let me explain myself a litte please.
In my post which you mentioned, what my intention was to show how important to stick to my rules for me, so that I thought I `d better only forcusing on to how I look at relationship between PA&EMAs when I look at charts, for a example. To do that, I thought, maybe I could have showed my point more clear, even with my (bad) Englishhttp://cdn.forexfactory.com/images/s...m/big_grin.gif
that`s the reason I`d only forcused to PA&EMA and not attached PPZ in my chart.

when I look at a chart, I put a weight much more on PPZ levels ,as sir jarroo is mentioning to , [ much of the core of that James16 teaches lies with the PPZ levels . .where Support and Resistance levels meets or flips. ] I totally agree with you sir.

what I don`t want most is to confuse people in this thread with my post, because I feel,this place is a kind of home to me.
suggestions and advices are always welcome. It` my pleasure^^

Ken.
  • #85,171
  • Jan 10, 2011 8:56pm Jan 10, 2011 8:56pm
Quoting Be Cool
My PPZ is actually at 2.0396 while yours is at 2.0375 which didn't give a chance to move stop to break even. Although on the daily it shows as a false break.Nonetheless, a pending order below 2.0396 would not have been triggered

So generally you would always check the higher TF (daily or weekly?) to see where the bar closes in relation to FTA?
I would see where the bar closes in relation to Support or Resistance. Your levels are good . .its your PA that not the best . . Not the biggest . .alot of traffic, etc.

Price is a bit boxed in right now at current levels, notice where the closes are . .I would wait until Price breaks out and see what develops . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #85,172
  • Jan 10, 2011 9:01pm Jan 10, 2011 9:01pm
Quoting Osman
Check this out guys..

This is why seniors emphasize in.. stop loss... max 2% per trade, BUOB at swing lows etc...

http://english.aljazeera.net/video/a...019555446.html

Os.
what no circuit breakers?

i see that and think dang somebody made some money in a hurry.
  • #85,173
  • Jan 10, 2011 9:01pm Jan 10, 2011 9:01pm
Quoting kancha1115
Thanks for your suggestions sir.
Actually, that was my one of dream(sorry my English, I don`t know any other word match more for my feeling now) to get your comment since I ve started learning in this thread. I am a little bit exciting with it .hahaha

and now, let me explain myself a litte please.
In my post which you mentioned, what my intention was to show how important to stick to my rules for me, so that I thought I `d better only forcusing on to how I look at relationship between PA&EMAs when I look at charts, for a example. To do that,...

I understand Ken . . I like your rules and your style, sir . .

Please feel free to post your charts as often as you like .. .many people will benefit.

Thanks Ken,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #85,174
  • Edited 11:19pm Jan 10, 2011 9:21pm | Edited 11:19pm
Quoting Pinbar
Not at all K.

It is always my pleasure to think about any trading setups.

Also, I see what you mean now.You are just setting the trap and waiting for the prey. Good job.


NZDUSD charts update

Daily&4hchart(FXDD)

Dailychart
(2011.1.7)BUOB at Fib50%

I never take a trade with this Daily BUOB Breakout or pullback&touch trade, I look at this PA as a hint to find 4h(or 1h) decent bullish PA.
I will ride on(I mean, I will buy) only when I can confirm a decent bullish PA around the red triangle which I attached in my 4h chart.
if not, I won`t enter the market. I will wait for another PA in HTF(higher time frame, Daily or weekly)

as in the quote , like Pinbar wrote to me ,[You are just setting the trap and waiting for the prey]
That`s my trading plan with this NU BUOB PA.

Thanks for reading.

Ken.
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  • #85,175
  • Jan 10, 2011 9:38pm Jan 10, 2011 9:38pm
Quoting Pinbar
Yes, that is where I studied it.

This thread is more pure price action and the knife system is more mechanical.
Not that it is completely mechanical but the rules of entry are sort of mechanical with the knife Aphid crossing indicator.

I am more interested in how Jarroo and Seeking light trade, personally.
Quoting Kalbar
I also am very interested in how Jarroo trades.......so successfully! He is one of the best....yet the analysis is based on simplicity!!
These two post sums up the majority of my trades . . .

Price breaks through and closes above or below . .turning Support to Resistance or Resistance to Support. . .then wait for some good PA. The more confluences that support the setup, the better.


Quoting jarroo
That's great spookie.

I want to take another look at this post by fxgroup . .its a great one.



Weekly Eur/Cad and then a lower time frame setups.

When the Week ended we did not know what was to going to happen (the black box). We just have a bias of Resistance that since Price broke through and closed below the 1.3300.

. . .brb . .
Quoting jarroo
So the next week begins and we are looking for the 1.3300 to act as Resistance based on the info we gained from the Weekly.

Looking at the Daily and 4 hour, Price moves up to give us some bearish PA to fit our Resistance bias at the 1.3300.
Indicators show the past. Price Action "Indicates" the future.
  • #85,176
  • Jan 10, 2011 10:48pm Jan 10, 2011 10:48pm
Good evening all,

I just thought I'd take a moment to add mine to the monumental tower of appreciative comments:

Thanks to all the seniors on this thread. Your time and effort here has been the very definition of selfless generosity. I wish you all continued success in the future.

Cheers,

MP
  • #85,177
  • Jan 10, 2011 11:25pm Jan 10, 2011 11:25pm
Quoting xmzhang
I took the same trade on demo though My reasoning was a pullback based entry of that weekly BEOB right @ the previous weekly bar low, I wanted to preempt the break of that BEOB ............ price gave me a sell trigger via a beautiful 1H-PB @ the already mentioned previous weekly bar low, obvious FTA would be the low of that BEOB ..............
Would you be kind enough to post your template set up with the indicators?
  • #85,178
  • Jan 10, 2011 11:27pm Jan 10, 2011 11:27pm
i took this trade today on aus/usd. H4 IB with diverg on a 50%fibo and solid trend line. was good for some 30 pips or so. I closed it with small profit after moving SL by entry. I hoped for a 1.0 mark but didn't happen.
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  • #85,179
  • Jan 10, 2011 11:36pm Jan 10, 2011 11:36pm
Quoting jarroo
Thanks Pb.

I don't how many people I have taught the ways of James16, or Mike's ways or many others that are here . .like ghous' IPBs . .

But I do know one thing . . the one who has learned the most in doing so. . .that would be me.


Jim



WTH....Where is your 10,000 Post.......?

I am looking at your post profile but it goes from 9,999 to 10,006...



Did you make the BRN post in another thread or this an FF system bug.?

They never envisaged anyone making more than 9,999 posts.

I agree 100% with helping people helps us, I think we should inform all our governments about this ASAP.
  • #85,180
  • Jan 10, 2011 11:42pm Jan 10, 2011 11:42pm
Quoting xmzhang
I took the same trade on demo though My reasoning was a pullback based entry of that weekly BEOB right @ the previous weekly bar low, I wanted to preempt the break of that BEOB ............ price gave me a sell trigger via a beautiful 1H-PB @ the already mentioned previous weekly bar low, obvious FTA would be the low of that BEOB ..............

meh, 2nd half out @ B/E.... overall a decent trade tho.
Many choose unhappiness over uncertainty.
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