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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

  • #85,501
  • Edited Jan 13, 2011 12:20am Jan 12, 2011 8:00pm | Edited Jan 13, 2011 12:20am
NZDUSD Daily DBLHC(2011.1.12)(FXDD)

Around 2 yellow rectangles(SR daily) &White TL are my potential Entry lines.
I set my limit buy orders around there for today.
Lime line is my Potential FTA(first trouble area) when my orders hit.
SL of my orders are set about 50pips each.
if my orders are not open within a few days , I would cancel my limit buy orders.

Thanks for reading , and many pips to all

Ken

Note: I think this PA is weak(as ghous said), I never look at PA like this as a great PA. I trade this PA by specific way(my original way)
and this chart is just for a entertainment .
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  • #85,502
  • Jan 12, 2011 8:28pm Jan 12, 2011 8:28pm
Watching this 4hr IPB. FTA around .9955 and then past the bar low to .9900 area.

Comments on the setup?

Thanks!
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  • #85,503
  • Jan 12, 2011 8:44pm Jan 12, 2011 8:44pm
Quoting slade1986
Watching this 4hr IPB. FTA around .9955 and then past the bar low to .9900 area.

Comments on the setup?

Thanks!
Hi, slade1986

That IPB looks good to me too.
if I take it ,I would see around 9920 as my FTA , I think.

Ken

(sorry forgot to write, my chart is FXDD
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  • #85,504
  • Jan 12, 2011 9:15pm Jan 12, 2011 9:15pm
Quoting kancha1115
NZDUSD Daily DBLHC(2011.1.12)(FXDD)

Around 2 yellow rectangles(SR daily) &White TL are my potential Entry lines.
I set my limit buy orders around there for today.
Lime line is my Potential FTA(first trouble area) when my orders hit.
SL of my orders are set about 50pips each.
if my orders are not open within a few days , I would cancel my limit buy orders.

Thanks for reading , and many pips to all

Ken
Hey Ken,

That bar as is, is not quite a bar one would stop at. Remember we need those "jumping out at you" bars with enough story around them to keep us interested.

Now if that bar had a low extending down below all those immediate smaller bar lows to the left and a close above the multiple highs, it would then carry more of a story and weight. It would obviously be a BUOB then, but a much stronger one than the DBLHC that you see at the moment.

g.
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I believe . . .
  • #85,505
  • Jan 12, 2011 9:18pm Jan 12, 2011 9:18pm
Quoting slade1986
Watching this 4hr IPB. FTA around .9955 and then past the bar low to .9900 area.

Comments on the setup?

Thanks!
Hey Slade,

that had the perfect shape! Location is what made me pass on this one. I see its off the 150 but then that's all there is to it. Not enough to make me go for it. Now if that IPB had its back against the parity level, it would have been one hell of a trade!

g.
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I believe . . .
  • #85,506
  • Jan 12, 2011 9:58pm Jan 12, 2011 9:58pm
Quoting ghous
Hey Ken,

That bar as is, is not quite a bar one would stop at. Remember we need those "jumping out at you" bars with enough story around them to keep us interested.

Now if that bar had a low extending down below all those immediate smaller bar lows to the left and a close above the multiple highs, it would then carry more of a story and weight. It would obviously be a BUOB then, but a much stronger one than the DBLHC that you see at the moment.

g.
Hi ghous, Thanks for your input It`s my honor to get a comment from you.
I think I understand what you mentioned about that PA.
I want to clarify about my set up for not to confuse someone (especially new who just came to this thread)

I have several different trading styles , now I using 4 systems ,, 3 for Daily and 1 for 4hTF.

among 3 systems for daily , 1(1st) system is for pure PA(or authorized bar with trend(I will attach my chart for a example. for Pure PA ,I only take PA like this,PA which is with good cofluence and with trend,, I don`t take a counter PA , that`s one of my rule ) , and for that system , I only take a PA(authorized bar) which is like in your advice[ we need those "jumping out at you" bars with enough story around them to keep us interested.]

and about other 2 sytems(2nd&3rd system) for daily PA , I look PA with different ways from 1st system(which I explain above)

about those 2 system for daily PA, I would take weak PAs too ,,,but only when some condition ( not against some check point lists in my book) are stisfied.
about NZDUSD DBLHC ,I take it for that 2nd system.

I totally agree with you
this NU PA is weak , if I using 1st system and find this PA , Im sure that I will pass.
however, if I using 2nd system and find this PA, I will take it as a trading sign.

that`s it.

I never take this for my pure PA system(1st system of mine), It too weak for me to play.
I totally agree with you ,thanks ghous

hope I made my intention of this trade clear , and sorry for my bad English.

thanks for reading.

Ken
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  • #85,507
  • Jan 12, 2011 10:04pm Jan 12, 2011 10:04pm
Quoting kancha1115
Hi ghous, Thanks for your input It`s my honor to get a comment from you.
I think I understand what you mentioned about that PA.
I want to clarify about my set up for not to confuse someone (especially new who just came to this thread)

I have several different trading styles , now I using 4 systems ,, 3 for Daily and 1 for 4hTF.

among 3 systems for daily , 1(1st) system is for pure PA(or authorized bar with trend(I will attach my chart for a example. for Pure PA ,I only take PA like this,PA which is with good cofluence and with trend,, I don`t...
Interesting. So what was it that caught your eye here if it was not confluence/story/bar? Not being a critique, just genuine curiosity.



g.
I believe . . .
  • #85,508
  • Jan 12, 2011 10:35pm Jan 12, 2011 10:35pm
How does this look? 4hr-BEOB bouncing off PPZ around 109 & higher TF resistance line. Going short, there seems to be smooth sailing to 108.4 area where it might meet up with the 4hr trend line.

I don't like that it would be playing against the general trend this week.

Any input is appreciated.

Dean

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  • #85,509
  • Jan 12, 2011 10:42pm Jan 12, 2011 10:42pm
Quoting ghous
Interesting. So what was it that caught your eye here if it was not confluence/story/bar? Not being a critique, just genuine curiosity.



g.
Thanks, ghous

I think that my English writing(speaking) skills not enough to explain my thought about my 2nd system (sorry , I don`t mean I want to keep it secret but I worried about misunderstanding with members(especially new who has just come to this thread). because , though all I learnt has come from this thread, I think I can`t say that I m a pure j16 trader)

so, I just only show you other examples by 2nd system.
(sorry about my dirty chart)
Dark Sea Green rectangles are sign on 2nd system(in this chart ,there`s 3 signs)
and blue lines are SR
white lines are TL
I think about 2nd system as more like box play than PA.
so maybe I can play even without PAs.
that`s all I can say now and leave it in your hand (hope you enjoy it)

Ken
Attached Image (click to enlarge)
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  • #85,510
  • Jan 12, 2011 11:24pm Jan 12, 2011 11:24pm
Quoting kancha1115
Thanks, ghous

I think that my English writing(speaking) skills not enough to explain my thought about my 2nd system (sorry , I don`t mean I want to keep it secret but I worried about misunderstanding with members(especially new who has just come to this thread). because , though all I learnt has come from this thread, I think I can`t say that...
I see.

That's an interesting method you got there

g.
I believe . . .
  • #85,511
  • Jan 12, 2011 11:31pm Jan 12, 2011 11:31pm
Hi supremeChaos, just wanna thank you once again. I got out of my position at a small profit, not sure if i remember correctly...i once read in a post in the previous pages that if the bar does not react to the way we think it will after a number of bars then the pin bar may not be the right one.

On top of that, you are totally right that its a BEOB, my bad, I decided to get out after 4-5 days, fortunate to have a profit, cos i realise the BEOB is not a gd one as the price close higher than the left eye.

My mistake in seeing it as a pin, choosing a lousy BEOB, i am fortunate to have been out at a small profit, thank you once again.

Anyway guys, im looking at Eur/Jpy daily, seems like a potential, need to see how it reacts at the PPZ, what do you guys think?

Bethel


Quoting supremeChaos
Hello Bethel,
it looked like a BEOB. but yes u can say it's a PB/BEOB hybrid.

my concerns
-that PB is pretty small & it was a Friday bar.(potentially a profit-taking bar/day)
-2 bars prior it, we had a huge upbar. it may be a sign of things to come.
- 82.60 - 83.00 seem to be a PPZ. so essentially u traded a small pinbar into that PPZ. ideally we trade away from , not towards, a PPZ, to increase the odds that price will move favorably for us.
currently, 83.00 is holding as support.

watch PA around 83.00. i would want 82.50 - 83.00...
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  • #85,512
  • Jan 12, 2011 11:38pm Jan 12, 2011 11:38pm
Hi all,

Just wanted to post this daily bar up for discussion.

Rejected off near 0.99
Fta is too near( black box)
Bar looks abit like a neutral bar.

Comments please =)
Attached Image
  • #85,513
  • Jan 12, 2011 11:40pm Jan 12, 2011 11:40pm
Quoting Autumm
Hi all,

Just wanted to post this daily bar up for discussion.

Rejected off near 0.99
Fta is too near( black box)
Bar looks abit like a neutral bar.

Comments please =)
Hey Autumm


I would agree and call this a neutral bar. The wicks are about equal lengths and open and close near the middle. This is indecision in a market to me more then a strong signal

Best
Mike
  • #85,514
  • Jan 12, 2011 11:41pm Jan 12, 2011 11:41pm
Quoting Bethel

Anyway guys, im looking at Eur/Jpy daily, seems like a potential, need to see how it reacts at the PPZ, what do you guys think?

Bethel
Hi Bethel,

What PA is present on the eur/jpy daily?
Attached Image
  • #85,515
  • Jan 12, 2011 11:55pm Jan 12, 2011 11:55pm
Quoting Sgrb1
Thanks for the welcome Jarroo. Would you consider the swiss yen a candidate for blind touch considering the confluence or do you always look for PA? I think you may have already covered this recently in the thread so apologies.

I think a few people may be feeling the pain with this unexpected move in Euro this evening. Let's see where we close the day..
Sorry I missed your post Sgrb1,


If I do take a touch trade its usualy off some other PA on the same time frame or a Higher time frame PA . . for example a Weekly BUOB . .I will look for a TT at its previous bar High. And even then, I will look on the lower time frames to see if there is any agreeble bullish PA at that level. The Chf/Jpy at the 85.00, I would still look for strong PA at this level.

Are you talking about the previous strong Support in yellow at the 1.3100ish on the Euro? I'm sure many looked at this level to act as Resistance. . I know I did, because it was such a strong Support level and Price broke through and closed below it. Notice that there are no closes below this level.


Many times it should act as Resistance from this transition . .Support to Resistance. . . .it doesn't take away from the strength of the level.

Now since Price broke it again and closed above . .I would look at it to act as Support again. We shall see.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,516
  • Jan 13, 2011 12:18am Jan 13, 2011 12:18am
Quoting Sgrb1
Thanks for the welcome Jarroo. Would you consider the swiss yen a candidate for blind touch considering the confluence or do you always look for PA? I think you may have already covered this recently in the thread so apologies.

I think a few people may be feeling the pain with this unexpected move in Euro this evening. Let's see where we close the day..

Here's example on the Aud/ Usd, We have Price breaking through and closing below a Support level . .we now look for it to turn into Resistance.

A touch trade can be tough to take without some sort of bearish PA for confirmation. Looking at the 15 min chart we a have a PB that confirms our Resistance.

This is just an example . .I would rather see this go from the Weekly to Daily instead of the 4 Hour to the 15min . . many more pips to be had from the Higher time frames . .
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Indicators show the past. Price Action "Indicates" the future.
  • #85,517
  • Jan 13, 2011 12:30am Jan 13, 2011 12:30am
Quoting Osman
Adi u went with Oanda at the end ?

Os.
Yep, the one I criticized the most lol. I really liked all those angry replies, from traders having live account with them. So really besides the platform's loss of connection seems there is nothing wrong with it. And I don't really care about those disconnects, I will trade daily at the minimum
  • #85,518
  • Jan 13, 2011 12:47am Jan 13, 2011 12:47am
Quoting DBallerz
Is this not sufficient price action?

Its not at the 85.00 but it is near it.

I would like to see a PA formation at least touching the 85.00 or better yet . .showing some rejection of the 85.00 . .like a long nose PB.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,519
  • Jan 13, 2011 1:44am Jan 13, 2011 1:44am
Quoting supremeChaos
your question was very general in nature & one that has really no single answer.
trades are taken & managed on a case to case basis. aside from that, 2 or ore traders will see &/or trade a particular setup very differently.
take a very recent case. see below.
we are only talking of a single Trendline here.
all of us will have different views, different trading ways.


try a more specific question. maybe u can post a chart as well. many here will surely respond.
Hi Again
What about the Cad JPY Daily as attached for a Short?
We are at the top of a 600 pip Range, below the 365.
Should I enter about 15 pips below the last day candle at 83.66?
Or would a more agressive entry be @ the50% Fib level of the last candle?
Or should I not consider this trade because the PB is marginal looking?
First trade @ 100% to the 150 EMA then 50% @ BE to a Daily PPZ?
Anybodies comments welcome.
Thanks
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  • #85,520
  • Edited 3:50am Jan 13, 2011 1:46am | Edited 3:50am
Morning all,

Nice breakout here

If it pulls back and continues, could 1.2935 be a possible target?
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