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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

  • #85,641
  • Jan 13, 2011 5:47pm Jan 13, 2011 5:47pm
Quoting Adilius07
No, unfortunately I'm on my iPad now. But even chart may not show what i mean or may show - will depend how they begin to aggregate those candles.

So my question was not clear? That's my russian english sorry.

All I mean is that those 4 candles before current doji (on weekly chart) will equal to 4-week bullish PB! So why is it ok to short against this?

Oh I see . . ..These 4 weekly candles?

Would you say that this 4W PB hit its target?
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Indicators show the past. Price Action "Indicates" the future.
  • #85,642
  • Jan 13, 2011 5:48pm Jan 13, 2011 5:48pm
Quoting the_wizard
Hey bro, yes all is going well. Got lots on so I'm not posting as much but always watching...

Oh man . . .lol . .No offence wizard . . we can laugh at it now right?
Indicators show the past. Price Action "Indicates" the future.
  • #85,643
  • Jan 13, 2011 5:49pm Jan 13, 2011 5:49pm
Quoting the_wizard
Hey bro, yes all is going well. Got lots on so I'm not posting as much but always watching...
oh man!!! So nice to meet you!!
Please tell me how's yuor live account doing?
That was for real?

Edit: oh sorry missed it your account is doing well. Glad for you! Sorry to laugh but it was really funny how you described all that incident
  • #85,644
  • Jan 13, 2011 5:52pm Jan 13, 2011 5:52pm
Quoting jarroo
Oh I see . . ..These 4 weekly candles?

Would you say that this 4W PB hit its target?
Yes exactly those! Oh you mean it like this. But Jarroo, really why would we consider it hit it's target already, we saw so many times that a pb could change a strong trend and keep it for weeks and months! Why would target be so close, maybe it is just an initial reaction to those highs and tomorrow we will see another strong push up???
  • #85,645
  • Edited Jan 14, 2011 3:28am Jan 13, 2011 5:58pm | Edited Jan 14, 2011 3:28am
Hello all

I am what you would call a lurker here (been a member for years), life member of the PF and been following the J16 method for a while. Even though I have traded live with J16 I still consider myself a newbie. Anyway the reason for my post. I wanted to do some analysis on what would happen if I took all PB, BEOB or BUOB J16 PA trades with a set target regardless of location, pair, size, PPZ, etc. I put all my analysis in an Excel spreadsheet and wanted to share it with you all. I hope you find it enlightening. I want to stress that I am NOT recommending anyone trade this way. As has been pointed out many many times you need to find your own way, but hopefully what this spreadsheet will show you is the power of this stuff:

- I took all PB, BEOB, BUOB J16 PA bars
- took trade regardless of whether there were any open trades
- analysis carried out for different target levels (35, 50, 100, 200, 300 pips)
- if a trade made more that 35 pips (45pips - 10) it was regarded as a winner
- if a trade made less than 35 pips (45pips - 10) it was regarded as a loser
- SL set at low/high of PA bar -/+ 10pips
- My BEOB and BUOB bars are a little stricter than J16 e.g. for a BEOB the high would have to be higher than the previous bar and CLOSE would have be lower or equal to the previous low, not just low being lower than the previous low

Ideally if someone has time to do a similar exercise to see if they get similar results it would be great and if I have made any obvious errors please point then out. I used Alpari UK to carry out the analysis. One interesting thing I did notice was that for 2007, 2008 and 2009 the results were fairly similar but the results for 2010 dropped off significantly, but still profitable. This could be because the markets were ranging more in 2010 than previous years. Finally I counted a loss as being 180 pips (this can be changed).

If I think of anything else I will post it up. And just for the record I do not trade like this but if I did it seems that it would still work! :-)

I'd love some feedback, positive or negative or any suggestions on how this can be expanded or improved. Maybe some bright spark can write an EA to work it all out as it took me a while to do manually!

Thanks
SR2
Attached File(s)
File Type: xls J16 Analysis.xls   92 KB | 946 downloads
  • #85,646
  • Jan 13, 2011 6:05pm Jan 13, 2011 6:05pm
Quoting Adilius07
Yes exactly those! Oh you mean it like this. But Jarroo, really why would we consider it hit it's target already, we saw so many times that a pb could change a strong trend and keep it for weeks and months! Why would target be so close, maybe it is just an initial reaction to those highs and tomorrow we will see another strong push up???
Let's look at it this way . . .

If your going to use the 4 Week time frame let's take a look at it.

Price is in consolidation on this time frame . .no surprise, that's what markets do, most of the time.

Looks like Donkey has a good signal that this consolidation will continue.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,647
  • Jan 13, 2011 6:05pm Jan 13, 2011 6:05pm
Gold is one of the main markets on my radar tomorrow.

I've got a limit sell at 1377.5.
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  • #85,648
  • Jan 13, 2011 6:08pm Jan 13, 2011 6:08pm
Quoting kancha1115
[The hair of the dog that bit us]
It means [迎え酒],,,,I`ve heard this expression for the first time. The hair of the dog ,,,,what a funny expression , I guess that Japanese people never think of the expression like this, really interesting! 勉強になりました

yes, I want to see how this week finish too. SR which you draw in your post is looks nice, I think, maybe that SR will be turning point on that pair.

GCAD dailychart.

Ken
Yes, The hair of the dog that bit us, comes from the Victorian era, in which, if bitten by a dog, they would catch the dog and take a few hairs from it, and actually put the hair inside the wound...They thought it would help it heal but of course it only caused further infection.

Yes, and it is still not the 15th yet, so I am sitting it out till next week.
  • #85,649
  • Edited 6:34pm Jan 13, 2011 6:09pm | Edited 6:34pm
Good morning to all
AUDNZD Daily InsideBar(2011,1,13(FXDD)

DailyChart
Insidebar at 1.3100
I like angle of EMAs(10-25)

yellow rectagles are SR I am noticing(my potential entry areas for short)
Limes are my FTAs

Note: I trade this PA by a specific way(my original way, not j16 method)
and this chart is only just for an entertainment .
hope someone enjoy ithttp://cdn.forexfactory.com/images/s.../yim/happy.gif

Thanks for reading and many pips for everone^^
Ken
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  • #85,650
  • Edited Jan 14, 2011 3:31am Jan 13, 2011 6:10pm | Edited Jan 14, 2011 3:31am
Quoting sr2
Hello all

I am what you would call a lurker here (been a member for years), life member of the PF and been following the J16 method for a while. Even though I have traded live with J16 I still consider myself a newbie. Anyway the reason for my post. I wanted to do some analysis on what would happen if I took all PB, BEOB or BUOB J16 PA trades with a set target regardless of location, pair, size, PPZ, etc. I put all my analysis in an Excel spreadsheet and wanted to share it with you all. I hope you find it enlightening. I want to stress that I...
Wow . .thanks SR2 . .good stuff

Just think if you were picky . .what am I saying . .if you weren't picky . .wow.
Indicators show the past. Price Action "Indicates" the future.
  • #85,651
  • Jan 13, 2011 6:12pm Jan 13, 2011 6:12pm
Quoting the_wizard
Gold is one of the main markets on my radar tomorrow.

I've got a limit sell at 1377.5.

You like that previous bar low of the BEOB . . .Nice..
Indicators show the past. Price Action "Indicates" the future.
  • #85,652
  • Jan 13, 2011 6:13pm Jan 13, 2011 6:13pm
Quoting jarroo
Let's look at it this way . . .

If your going to use the 4 Week time frame let's take a look at it.

Price is in consolidation on this time frame . .no surprise, that's what markets do, most of the time.

Looks like Donkey has a good signal that this consolidation will continue.
Well here it looks to me that price have come to the consolidation box level (previous one) creating good space above, and this bullish PB maybe a first warning the price is pushing out of this current consolidation. I just don't see how this bullish PB which is triggered already as we see, could mean a continuation (not IPB right so it is not pushing price down back into the box)

  • #85,653
  • Jan 13, 2011 6:14pm Jan 13, 2011 6:14pm
The other one is the Bund...

I expect that to have serious problems at 125.30 on the s/r pivot, the 50% fib and the back of the ascending TL (which is a major bear flag on the D1)

Limit Sell at 125.30. Stop at 125.68.
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  • #85,654
  • Jan 13, 2011 6:20pm Jan 13, 2011 6:20pm
Quoting Adilius07
Well here it looks to me that price have come to the consolidation box level (previous one) creating good space above, and this bullish PB maybe a first warning the price is pushing out of this current consolidation. I just don't see how this bullish PB which is triggered already as we see, could mean a continuation (not IPB right so it is not pushing price down back into the box)


I could see your point if the 4 Week PB was at swing low and bigger than all the other bars . . but this PB is in consolidation with comparable size bars. This is true with PBs on the 4 Week TF or the 4 Hour.
Indicators show the past. Price Action "Indicates" the future.
  • #85,655
  • Jan 13, 2011 6:25pm Jan 13, 2011 6:25pm
Quoting jarroo
I could see your point if the 4 Week PB was at swing low and bigger than all the other bars . . but this PB is in consolidation with comparable size bars. This is true with PBs on the 4 Week TF or the 4 Hour.
Yes, the nose don't stick out in this case. But it could with another trade,next time, and how would Donkey know this if he only check for one TF higher levels only?

Sorry i'm not being a as***le. Is just I was thinking many times, and really many things (like this example) still don't make sense to me.
  • #85,656
  • Jan 13, 2011 6:27pm Jan 13, 2011 6:27pm
Quoting the_wizard
The other one is the Bund...

I expect that to have serious problems at 125.30 on the s/r pivot, the 50% fib and the back of the ascending TL (which is a major bear flag on the D1)

Limit Sell at 125.30. Stop at 125.68.
Flag breakout . .pull back . .continuation downward .. .nice confluences. . .the 125.30 looks strong either way.
Indicators show the past. Price Action "Indicates" the future.
  • #85,657
  • Jan 13, 2011 6:28pm Jan 13, 2011 6:28pm
First post here.

I believe my style of trading is very similar to many people here from what I've read here. Don't really know some of the acronyms used here yet but seems like everyone's really helpful.
Love trading, learning and teaching.

Here's one on the radar:

http://3.bp.blogspot.com/_lSrBiCbRYH...%2B1-13-11.png
  • #85,658
  • Jan 13, 2011 6:29pm Jan 13, 2011 6:29pm
Quoting Pinbar
Yes, The hair of the dog that bit us, comes from the Victorian era, in which, if bitten by a dog, they would catch the dog and take a few hairs from it, and actually put the hair inside the wound...They thought it would help it heal but of course it only caused further infection.

Yes, and it is still not the 15th yet, so I am sitting it out till next week.
Pinbarさん、おはようございます
yes, last night I want to know why they say [The hair of the dog] , and seaching in google though, I haven`t know that words are from Victorian era(the site which I read about that words, he does`t mention to Victorian era) it`s really interesting. ありがとうございます

[Yes, and it is still not the 15th yet, so I am sitting it out till next week]

Yes, it stll has some time left before 15th, I`m looking forward to see how that pair moves.
  • #85,659
  • Jan 13, 2011 6:30pm Jan 13, 2011 6:30pm
Quoting Adilius07
Yes, the nose don't stick out in this case. But it could with another trade,next time, and how would Donkey know this if he only check for one TF higher levels only?

Sorry i'm not being a as***le. Is just I was thinking many times, and really many things (like this example) still don't make sense to me.

He did check the weekly TF and saw the history of Resistance at the .9800.

This should be a good one to learn from, friend.
Indicators show the past. Price Action "Indicates" the future.
  • #85,660
  • Jan 13, 2011 6:33pm Jan 13, 2011 6:33pm
Quoting jarroo
He did check the weekly TF and saw the history of Resistance at the .9800.

This should be a good one to learn from, friend.
Thanks Jarroo, but the confusion is still there for me. If I play with TF's there is something always that will confuse. So that's why I more inclined to stay with 1 tf only. (But I sometimes feel that this is like hiding from the truth...)

So this keeps me worried, those things..
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