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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

  • #85,761
  • Jan 14, 2011 8:30am Jan 14, 2011 8:30am
Quoting rd122481
Is this a "Pin bar"? I have read/scanned this post trying to understand this "Price Action" method only to end up in frustration when I try to play a perceived PA candlestick formation. Can someone please give me a simple definition of what these chart formations look like? I have been trying to combine these with Fib Ret levels, as you can see in the pic, but with no success. Please help!
try this.
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File Type: pdf Pin bars-introduction.pdf   175 KB | 1,686 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 1,582 downloads
File Type: pdf Price Action Setups.pdf   45 KB | 1,384 downloads
PATIENCE... DISCIPLINE
  • #85,762
  • Jan 14, 2011 8:31am Jan 14, 2011 8:31am
Quoting g_j_hook@yah
charts...
I like it ,too.

The space looks very good.
  • #85,763
  • Jan 14, 2011 8:33am Jan 14, 2011 8:33am
Quoting Adilius07
I see pinbars everywhere man, even when market is closed or when there is not market at all

And seriously (!!!) I saw a dream a few nights ago where I was picking just a fantastic bearish PB right off the VBRN with perfect shape and size, I posted the chart here and Mike (for sure I remember it was him) said something like "looking very nice Adi..." Can you imagine this? Do normal people see dreams like that? Hmmm

dont worry this phase passes. i used to wake up at night and go through my charts for hours before going back to sleep lol

EDIT: are you sure you dont have a thing for...no lets not go there lol
PATIENCE... DISCIPLINE
  • #85,764
  • Jan 14, 2011 8:35am Jan 14, 2011 8:35am
Quoting john225
I like it ,too.

The space looks very good.
agreed, would like it to break through that .8400 RN with a bit momentum...

jon
PATIENCE... DISCIPLINE
  • #85,765
  • Jan 14, 2011 8:35am Jan 14, 2011 8:35am
Quoting g_j_hook@yah

dont worry this phase passes. i used to wake up at night and go through my charts for hours before going back to sleep lol
Ohh man... noooo I'm still not that bad... lol.. I wake up once and then go for whole day through them...
  • #85,766
  • Jan 14, 2011 8:35am Jan 14, 2011 8:35am
Quoting Adilius07
This short doesn't look good anymore
Monthly candle? M2?
wow, Adi. nice
that PB is pretty small. & imho, the area below the PB's low looks like a PPZ

anyway, why not trade Daily or weekly charts?
u would get more & faster results without the noise of much lower TFs.

Quoting AvanishDemo
Hi,Im Novice to forex trading..and i have learnt many setups like Pinbar,IPB,Support-Resistance,BUOB,BEOB etc...
but can any1 tell me whats BRN?Whats the significance of it?
Thanks.
hello AvanishDemo,
here's the list

Quoting gasgas
Just wondering if u guys play bars like this. Technically not a OB since high if second bar is 2-3 pips lower than bar one's. Could be DBHLC but again how many pips of difference (in highs)do you tolerate to accept it to be playable ?
i think several do.
based on that 4 bars alone, i can call that a non-strict or quasi DBHLC/BEOB, a 3 or 4-bar PB.
the pip tolerance would have to be decided by you. usually 5-15pips.

Quoting DBallerz
Got a psychological issue, how do I stop from constantly checking my trades? I'm always thinking about it and theres a feeling of excitement and anxiety in my stomach even though im risking pretty small amount of money. How do you overcome this? Trade for a while so I don't think its a big deal anymore?
Hello DBallerz,
i think for some people it will be a psychological 'company/acquaintance', as long a we trade.

a few things u can do:
-trade a much smaller account/trade positions.
-put stops to BE or BE + X (X = a certain amount of pips)
-study more, improve & built confidence&experience. this would be your best weapon. (think of a skill, a hobby, a sport that u are really good at. u play/act with confidence when u are good at something, with minor to zero hesitation, anxiety etc)

hope this helps!

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.. this spreadsheet will show you is the power of this stuff:
thanks for sharing your spreadsheet/analysis!
will check it out!

Quoting the_wizard
Gold is one of the main markets on my radar tomorrow.
I've got a limit sell at 1377.5.
im ecstatic to see the wizard in action today.
maybe u can post more next time, Sir

Quoting g_j_hook@yah
cheers Jarroo ...i just need to learn what a pin bar is now!!http://cdn.forexfactory.com/images/s..._the_floor.gif..
sometimes/often we have to get back to the basics!
  • #85,767
  • Jan 14, 2011 8:39am Jan 14, 2011 8:39am
Quoting supremeChaos
Monthly candle? M2?
wow, Adi. nice
that PB is pretty small. & imho, the area below the PB's low looks like a PPZ

anyway, why not trade Daily or weekly charts?
u would get more & faster results without the noise of much lower TFs.
Hello SC, no that is W2. I would not have enough patience to ever trade M2 I think

It looks better now, lol. So still holding.
I am only daily and weekly, maybe I will not continue w2 yeah, just want to keep it more simple... I still like D3 idea though - this is like a medium inbetween daily and weekly...
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  • #85,768
  • Jan 14, 2011 8:41am Jan 14, 2011 8:41am
Quoting Adilius07
yeah man! I'm crazy, was just switching through my charts and comepletely lost the time zone difference again. This is invalid of course! Sorry.

EDIT: I deleted that post to avoid any confusion.

EDIT2: It thought it was a real time chart. So just ignore it.
no prob, man.
btw i use the broker gci for my charts. they have a wide range of us, german, uk and even australian stocks. plus commodities and indices, well and forex.
maybe you want to take a look at this broker for charting...
meine augen sind die sterne
  • #85,769
  • Jan 14, 2011 8:41am Jan 14, 2011 8:41am
Quoting g_j_hook@yah
hi SC, i guess we can say the gb/us broke that wedge/triangle on the daily eh lol. wot do u think, next stop 1.6000??
not too far away now huh?
to be realistic, we can revisit upper1.57 or 1.5800area. & it's Friday.
right now, price is having trouble breaking 1.59 (now a possible H1/H4 double top).
let's see.
depending on PA, i might renew longs on gbpusd & eurjpy longs on Monday onwards.
  • #85,770
  • Jan 14, 2011 8:44am Jan 14, 2011 8:44am
Quoting aserbfx
no prob, man.
btw i use the broker gci for my charts. they have a wide range of us, german, uk and even australian stocks. plus commodities and indices, well and forex.
maybe you want to take a look at this broker for charting...
I also have Thinkorswim for that. The problem is I don't know how to trade them. Scary with options and I still have no money to get involved with futures or stocks. CFD's also out of question for now as they require more capital to trade (to stick to 1% or 2% risk). So just FX for now. But I really like to watch intraday Indexes or (ES, YM) - maybe some day in future I will carefully trade them too...
  • #85,771
  • Jan 14, 2011 8:49am Jan 14, 2011 8:49am
Quoting the_wizard
Gold is one of the main markets on my radar tomorrow.

I've got a limit sell at 1377.5.
Thanx for the GOLDEN hint Wiz , that daily BEOB also triggered a so called Quasimodo-pattern. Sell trigger on the 1H-TF via a BEOB, further refining my entry (for a low risk entry), via 10m-BEOB to preempt the break of that 1H-BEOB. We've a daily BEOB, 1H-BEOB and a 10m-BEOB that's a triple reason to sell Took some profit off the table @ floorpivot S1, price found support @ S1, then broke S1 ........ it should now act as resistance
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Pipcrawler
  • #85,772
  • Jan 14, 2011 8:49am Jan 14, 2011 8:49am
Quoting rd122481
Is this a "Pin bar"? I have read/scanned this post trying to understand this "Price Action" method only to end up in frustration when I try to play a perceived PA candlestick formation. Can someone please give me a simple definition of what these chart formations look like? I have been trying to combine these with Fib Ret levels, as you can see in the pic, but with no success. Please help!
Hir,Sir.
I`m not good at English, so I think I`d better show you my chart

charts(FXDD)
Daily Pinbar(2007.8.17)
1,AUDUSD-Monthly chart(I draw S&R(PPZ) on this chart)
2, Daily chart(Pinbar)

This is really beatiful Pinbar, In my opinion.
(to the seniors , plz correct me if I do something wrong)

Thanks for reading sir.

Ken
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  • #85,773
  • Jan 14, 2011 8:52am Jan 14, 2011 8:52am
Quoting Adilius07
Hello SC, no that is W2. I would not have enough patience to ever trade M2 I think
It looks better now, lol. So still holding.
I am only daily and weekly, maybe I will not continue w2 yeah, just want to keep it more simple... I still like D3 idea though - this is like a medium inbetween daily and weekly...

sorry, my eyes must be dead tired & hungry.
so that's W2.
imho, u got a lot of potential traffic areas until 0.9500, so stay nimble.
for me, 0.9900 should hold as resistance today & ideally 0.97 - 0.98 should break with momentum by monday/tuesday.

imho, audusd is bullish. if 0.95 breaks convincingly, 0.80/0.85/0.90 must hold for the bulls to maintain control.
right now, based on PA, 0.9500 is very possible, specially if 0.98 breaks real soon.
let's see. kindly update us.
  • #85,774
  • Jan 14, 2011 8:52am Jan 14, 2011 8:52am
gee this place rocks..REALLY please to the seniors & j16 worshipers keep up the great work on this thread (AMAZING AT TIMES!!) l've been lurking for a year now and all you feel like family here.. l also trade stocks on the ozzie market and this has this thread helped that 4fold!! With being a devoted fan spending countless hours a day fan here @ ff researching methods, market reviewing on demos and trolling through your big old juicy thread here .Being Australian on working visa and working from London the hours are well different. Things have really clicked this week S/R ,retracement and PA at ppz levels and learning some peoples sound tested techniques.To the Newcomers just study, study, review, study, plan,study.. Consider peoples idea's against your own, if your serious enough here you'll make it.. Remember cash is the byproduct of what were learning here!! kancha very good charts pal!!! kancha1115
  • #85,775
  • Jan 14, 2011 8:56am Jan 14, 2011 8:56am
Quoting supremeChaos

sorry, my eyes must be dead tired & hungry.
so that's W2.
imho, u got a lot of potential traffic areas until 0.9500, so stay nimble.
for me, 0.9900 should hold as resistance today & ideally 0.97 - 0.98 should break with momentum by monday/tuesday.

imho, audusd is bullish. if 0.95 breaks convincingly, 0.80/0.85/0.90 must hold for the bulls to maintain control.
right now, based on PA, 0.9500 is very possible, specially if 0.98 breaks real soon.
let's see. kindly update us.
Thank you SC for advice. Yes of course I will post the outcome of this.

Yes, I think I should be more strict with my trades. I see so many times that just a small traffic on my way could substantially slow the trade. So maybe I really should avoid any kind of traffic. I mean is like if I have more than 2 overlapping open and closes - I skip. (see I thought the price built a box and that was the trade off upper extreme...maybe I should not take those for now..)
  • #85,776
  • Jan 14, 2011 9:01am Jan 14, 2011 9:01am
If this was at a swing high, would this be the perfect set up?
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  • #85,777
  • Jan 14, 2011 9:02am Jan 14, 2011 9:02am
Thanks Pinbar,

I've obviously not been paying attention. My charts are very similar to yours although not quite the same

Silly question, but where can I find how to post a chart?
  • #85,778
  • Jan 14, 2011 9:04am Jan 14, 2011 9:04am
Quoting sr2
Thanks wizard. Can you tell me details of how I can look at Natural gas charts? I don't alpari provide these prices. I've predominantly concentrated on FX over the last few years and would like to move into commodities, etc?

Thanks
SR2
I use FxPro. It's MT4 so it's free.
  • #85,779
  • Jan 14, 2011 9:12am Jan 14, 2011 9:12am
Hey G,
Did you catch this one? I didn't.
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  • #85,780
  • Jan 14, 2011 9:15am Jan 14, 2011 9:15am
Stopped out on my oil trade @ 9055. Momentum of the uptrend dissipated when oil wasn't able to make a new high but instead made a double top @ an important pricelvl. Entered short @ pullback of broken up-TL via 4H-PB.
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