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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

  • #85,841
  • Jan 14, 2011 2:42pm Jan 14, 2011 2:42pm
Quoting MustardPlug
Mike,

Sorry I wasn't clear. I see the "V" shape, I just dont understand why it is a problem. At first glance, I would have thought that the crevice of the "V" would represent Space that we would like to see to the left of the pin bar in order to play it. Does that question make more sense?

Thanks again,

Dean
If I can hazard a guess at what Mike was saying-

The PB just doesn't look proportional to the momentum of the move.

To me, at least, it's just a sign of weakness, and maybe not a reversal of the move
  • #85,842
  • Jan 14, 2011 2:51pm Jan 14, 2011 2:51pm
I'm off.

Have a great weekend everybody.

Mike, I thought I'd catch up on your videos over the weekend. But I'd need to stop time to get through them all in that period!

Such an output! Thanks, can't wait to get at them
  • #85,843
  • Jan 14, 2011 2:58pm Jan 14, 2011 2:58pm
Quoting Ifmyante
I passed on that due to all the traffic. 111 is very gettable though. After that, I really can't say
The one thing that still confuses me with the outside bars is that I tend to believe that the more bars they gulf + the stronger the close => the higher the probability of it succeeding.
Can someone please shed some light ?
  • #85,844
  • Jan 14, 2011 3:04pm Jan 14, 2011 3:04pm
Quoting james16
this made my day, thank you. let me briefly give some core info. moving average systems are tough because by the time you enter price can be anywhere. show me any moving average system that makes any trader not pucker up like a lemon. there are none. what i will teach you is how to actually take moving average crossover trades with trailing entries that will allow you to use a 20 to 30 pip stop on a 30 min chart. a sensible entry technique that will give you peace of mind for a change. now i havnt even talked about price action analysis TO FURTHER...
Just thought i'd post this guys to make us all realize that Jim is the real deal 6 yrs after this post was posted,wow.T
  • #85,845
  • Jan 14, 2011 3:07pm Jan 14, 2011 3:07pm
Quoting Ifmyante
I'm off.

Have a great weekend everybody.

Mike, I thought I'd catch up on your videos over the weekend. But I'd need to stop time to get through them all in that period!

Such an output! Thanks, can't wait to get at them
Where are the videos?
  • #85,846
  • Jan 14, 2011 3:22pm Jan 14, 2011 3:22pm
Quoting g_j_hook@yah
try this.
Mmmm...Yummy!! :-) That will satisfy my hunger for a little while. Do you have anything in that kind of format regarding other Price Action candlestick formations? Thank you so very much for that. I cannot convey how valuable a gift you have just given me! :-)
  • #85,847
  • Jan 14, 2011 3:34pm Jan 14, 2011 3:34pm
Quoting rd122481
Mmmm...Yummy!! :-) That will satisfy my hunger for a little while. Do you have anything in that kind of format regarding other Price Action candlestick formations? Thank you so very much for that. I cannot convey how valuable a gift you have just given me! :-)
Hi rd,Steve Nison,this is the guy who brought candlesticks to the western world.If you want to know anything on this subject give him a google.T
  • #85,848
  • Jan 14, 2011 3:42pm Jan 14, 2011 3:42pm
Check out the Bearish Pinbar on USDCAD Daily Chart formed on 14/1/2011..Long Tail,meets Support-Resistance,RN Confluence plus Fakey Setup!
I think this can be Good Sell-Trade!
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  • #85,849
  • Jan 14, 2011 4:14pm Jan 14, 2011 4:14pm
Good close on the BUOB, maybe a retrace back to 110.00 and then off to 112.00 area.

Thoughts?
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  • #85,850
  • Edited 4:34pm Jan 14, 2011 4:18pm | Edited 4:34pm
Quoting spookie94
Not really looking for a touch trade, I was just wondering it that BOUB would have been a buy signal for the retrace of the break. Or should it have come closer to the PPZ? Not sure if I should sit and wait for a better PA formation.
I see . .

I would consider it a buy signal of the retrrace of the break. Price retraces to the breakout level we want to see bull PA . .BUOB . .confirmation . .enter. . ..check FTAs / targets . . set limits.

I think it was close enough to the break out level, but what we know about other characteristics of a high quality setup does it go out the window . ..Space, Size, Traffic, Swing High/Low, etc. . .

I not saying that the Hourly BUOB was not go enough to take .. .why? because it did have a good story of why it formed there . . Breakout and close above on the Daily . .retrace.

So if there were additional high quality setup characteristics in play here, the probability of sucess can only go up.

I'm I making sense?
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Indicators show the past. Price Action "Indicates" the future.
  • #85,851
  • Jan 14, 2011 4:26pm Jan 14, 2011 4:26pm
Quoting spookie94
yeah, too bad I was sleeping
Another point I was making was the level where Price could not close above multiple times on the Daily. .63.30.

Quoting jarroo
It was good for a bounce and some pips if you took your targets (why wouldn't you take your targets) or a break even trade at the very least. Remember break even trades go in the win column. I'll still watch this to see if the closes stay above this level on the Hourly, 4 Hour and Daily.
Ghous will like this one . . or maybe not . .lol

IPB on the 4 Hour hits its target and a bit more.

Noitce still no close below the 63.30.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,852
  • Jan 14, 2011 4:30pm Jan 14, 2011 4:30pm
Quoting lallous
The one thing that still confuses me with the outside bars is that I tend to believe that the more bars they gulf + the stronger the close => the higher the probability of it succeeding.
Can someone please shed some light ?
You're right, I'm sure, and it did go up rather than down. It may even go up some more, or a lot more.

But PA isn't all you need to pull the trigger on a trade.

I squished up the chart a little to show you what's just ahead. Look left along the current price line. Price has flipped so many times around this area that the Risk/Reward ratio looks too poor.

Look for trades that have a little more space.

That bar was good for a quick scalp maybe, but I'd hate the stress of letting it run.

I'm happy to be corrected if anyone disagrees

Michael
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  • #85,853
  • Jan 14, 2011 4:45pm Jan 14, 2011 4:45pm
Hi,Anyone saw the difference between feed from FXPRO and IBFX ? I attach 2 photos H4 charts, the difference was two bars back.

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  • #85,854
  • Jan 14, 2011 4:47pm Jan 14, 2011 4:47pm
Quoting sr2
Thanks for that. I will give it go.

cheers
Hey Sr2

I believe the wizard was referring to the #NGG1 on Fx Pro . .(chart)

Also . . I didn't mean to be so short in my post about your hard work you did in the post below.

Thanks for the hard work and time you spent on this . ..


Thank you, Sr2 . . .


Jim



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...
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Indicators show the past. Price Action "Indicates" the future.
  • #85,855
  • Jan 14, 2011 4:57pm Jan 14, 2011 4:57pm
Quoting xmzhang
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
Well it did act as resistance ........ closed my daytrade @ next floorpivot @ S2. Observe how these floorpivot points are respected as S/R, I love them and use them quite often as my intraday targets.
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Pipcrawler
  • #85,856
  • Jan 14, 2011 5:01pm Jan 14, 2011 5:01pm
Quoting AvanishDemo
Check out the Bearish Pinbar on USDCAD Daily Chart formed on 14/1/2011..Long Tail,meets Support-Resistance,RN Confluence plus Fakey Setup!
I think this can be Good Sell-Trade!
I totally agree! Does anyone see any reason not to take it? I'm a little gun-shy since I grabbed the breakout of 9900 too early and got burned.

Dean
  • #85,857
  • Edited 5:47pm Jan 14, 2011 5:31pm | Edited 5:47pm
Quoting xmzhang
Well it did act as resistance ........ closed my daytrade @ next floorpivot @ S2. Observe how these floorpivot points are respected as S/R, I love them and use them quite often as my intraday targets.
I see your loving the previous bar Low on the BEOBs as well xmz . .


Also I'm still liking your post very much on Outside Bars . . good for a repost..


Quoting xmzhang
The only restriction is that the range of the previous bar is engulfed by the range of the next bar. The position of the close of the engulfing bar relative to the low/high of the engulfed bar is a measure of strength (ie. bearishness/bullishness) of that BEOB/BUOB. The high/low of the engulfed bar acts as resistance/support and a close above/below means breaking and closing above/below that resistance/support. Hope this clears up.
Quoting jarroo
Wow . . xmz . . that is a fanastic definition/ explanation of Outside Bars and their relative strengths.


Excellent . .well said, sir . .
Indicators show the past. Price Action "Indicates" the future.
  • #85,858
  • Jan 14, 2011 5:38pm Jan 14, 2011 5:38pm
Quoting fx_marius
Hi,Anyone saw the difference between feed from FXPRO and IBFX ? I attach 2 photos H4 charts, the difference was two bars back.

Attachment

Attachment
Not just two bars back. There's different action all over the place. But that happens. Really makes you wonder about stop hunters
  • #85,859
  • Jan 14, 2011 5:42pm Jan 14, 2011 5:42pm
Quoting jarroo
Hey Sr2



Thanks for the hard work and time you spent on this . ..


Thank you, Sr2 . . .


Jim
Here here SR, that was such a massive undertaking. Thank you so much.

And what staggering results!
  • #85,860
  • Jan 14, 2011 5:46pm Jan 14, 2011 5:46pm
Quoting DBallerz
Where are the videos?
In the pf.

I'm still on Jim's ones. He really teaches you what to look for on the left so you can catch glimpses of what'll be on the right!
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