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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

  • #87,461
  • Jan 31, 2011 1:01pm Jan 31, 2011 1:01pm
Quoting aserbfx
yep. this stock is really a "volksaktie". do you remember: manfred krug and the t-aktie...
No what happened and when?
  • #87,462
  • Jan 31, 2011 1:34pm Jan 31, 2011 1:34pm
Quoting supremeChaos
hello wizardblue,
not sure i understand your Q correctly...

what u can do is plot your PPZs on just 1 broker feed, while being aware that a PPZ is a zone & brokers will have different price feeds(so your PPZs will vary slightly between feeds).
continue checking the 3 feeds, while constantly consulting the broker feed which has your PPZs.

hope this helps a bit
I have feeds from fxPro and FXCM. Do you recommend any others?
  • #87,463
  • Jan 31, 2011 2:01pm Jan 31, 2011 2:01pm
Quoting ghous
My comments:

http://www.youtube.com/watch?v=61iMGiZlzfE
g.

(Thnx SC)
Great Video. Thanks. I got me looking. There is a IPB on Cable daily at 1.6 24th Jan. We can see it came off but given location, and multiple bar highs failing at this level would you have traded?
  • #87,464
  • Jan 31, 2011 2:07pm Jan 31, 2011 2:07pm
Hey Ghous,
Its an USDCHF Chart...

As it is there isn't much of movement in market when it nears the end of the day,so lets check the Monthly Chart...
I see the IPb formation with a Bullish close @ 0.93(Swing Low)..its close to that level..but if u see accurately,there is still "19 Pip Gap" between the low of IPb and 0.93..but since its monthly chart can we neglect that "19 Pip Gap" ? cos its almost AT that 0.93 level.

Now switch to H4 chart:
I see a nice Protruding Pinbar..but behind it there is Long Consolidation phase ..but wat I'm thinking is AT SOME POINT OF TIME there should be an end to this Long Consolidation phase and this Pinbar marked in yellow has dat potential..ALSO we see an IPb on monthly chart..so Comparin both the TF im asking u "if we can expect new heights in Feb month?"

Surely there is lot of difference between H4 & Monthly Chart but then the Pinbar and the current bar next to it on H4 chart brings an end to the day and so the MONTH..

P.S.:I did see ur video u recently posted but i still felt to ask this Q..my Q basically asks if to expect Bullish movement this month on the basis of H4 and Monthly Chart Analysis!

Thanks,
Good Trading!
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  • #87,465
  • Jan 31, 2011 2:09pm Jan 31, 2011 2:09pm
Hi
Ghous and Pinbar
I think your explanation via video is a great idea and most helpful.
G
  • #87,466
  • Jan 31, 2011 2:13pm Jan 31, 2011 2:13pm
Nice 4H PB off 61.8 ret.

But it's running directly into strong support (bar highs, PPZ and RN)

Oh, well, there'll be others
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  • #87,467
  • Jan 31, 2011 2:15pm Jan 31, 2011 2:15pm
People, how do you find the pinbars, indicators and signals of entry on such huge charts (4H, daily, etc) ?

Everytime I sit for some hours in fonrt of monitor, I can't find them... Then I go sleep or work on daily job and maybe some pattern starts.

I mean, it's hard to be exactly in front of monitor and find such patterns in so huge charts time frames.. Maybe it would be more possible in 15Minutes or 1 hour, but I know that the rules is to not trade and those at first.

Do you use some kind of EA? Some kind of atomation or alert? any other solution?
The Black Swan: The Impact of the Highly Improbable
  • #87,468
  • Jan 31, 2011 2:19pm Jan 31, 2011 2:19pm
I don't like the 4hr pin, but the 8hr looks better to me. It has divergence and size, also a good close imo.

But it doesn't have a lot of space as it will run into some resistance at the 9465 area. So tight stop management or skip.

Quoting AvanishDemo
Hey Ghous,
Its an USDCHF Chart...

As it is there isn't much of movement in market when it nears the end of the day,so lets check the Monthly Chart...
I see the IPb formation with a Bullish close @ 0.93(Swing Low)..its close to that level..but if u see accurately,there is still "19 Pip Gap" between the low of IPb and 0.93..but since its monthly chart can we neglect that "19 Pip Gap" ? cos its almost AT that 0.93 level.

Now switch to H4 chart:
I see a nice Protruding Pinbar..but behind it there is Long Consolidation phase ..but wat I'm thinking...
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  • #87,469
  • Jan 31, 2011 2:44pm Jan 31, 2011 2:44pm
[quote=AvanishDemo;4359636]Hey Ghous,
Its an USDCHF Chart...

I went ahead and took the aggressive entry off the not so great 4h pinbar and multiple support. I felt good about the 40 pip trip back to the top of the candle prior to the pinbar, based on the strong support, but I had to move down a bunch of timeframes to take it and stay in it.

Just took half off as it broke the prior candle as I typed this.

We'll see what this second half can do, if anything. I'll take an additional position based on the daily if it closes as it is right now and then pulls back some. If it takes off from end of day, I'll leave it alone and let my second half of the earlier trade do the work for me.
Be bullish on you.
  • #87,470
  • Jan 31, 2011 2:45pm Jan 31, 2011 2:45pm
H1 DBHLC.
This was a really nice way of getting into the daily BEOB short trade.
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  • #87,471
  • Jan 31, 2011 3:26pm Jan 31, 2011 3:26pm
Quoting MapleLeaf
People, how do you find the pinbars, indicators and signals of entry on such huge charts (4H, daily, etc) ?

Everytime I sit for some hours in fonrt of monitor, I can't find them... Then I go sleep or work on daily job and maybe some pattern starts.

I mean, it's hard to be exactly in front of monitor and find such patterns in so huge charts time frames.. Maybe it would be more possible in 15Minutes or 1 hour, but I know that the rules is to not trade and those at first.

Do you use some kind of EA? Some kind of atomation or alert? any other...
Hey Maple

If you are trading the daily/weekly you only need to check your chart once a day for any possible entries, or once a week for the weeklies. Then of course it comes to managing that trade. This is why many people trade only the higher timeframes as is b/c they can't be caught in front of their screens for hours at a time unless it is managing a trade. Keep it simple

Best
Mike
  • #87,472
  • Jan 31, 2011 3:32pm Jan 31, 2011 3:32pm
Well the day is almost over and I moved my SL to BE.
So whatever happens this is the winner, right
If runner happens oh I will hold it forever I promise....
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  • #87,473
  • Jan 31, 2011 3:39pm Jan 31, 2011 3:39pm
Quoting Adilius07
Well the day is almost over and I moved my SL to BE.
So whatever happens this is the winner, right
If runner happens oh I will hold it forever I promise....
LOL. Very nice

Some babysitting to do around .85

Good luck with it
  • #87,474
  • Jan 31, 2011 3:41pm Jan 31, 2011 3:41pm
Quoting Ifmyante
LOL. Very nice

Some babysitting to do around .85

Good luck with it
Thanks. Yes let's see what is going to happen next...
  • #87,475
  • Jan 31, 2011 3:44pm Jan 31, 2011 3:44pm
Quoting Adilius07
Thanks. Yes let's see what is going to happen next...
What would you do here on a live trade?
  • #87,476
  • Jan 31, 2011 3:46pm Jan 31, 2011 3:46pm
Quoting Ifmyante
What would you do here on a live trade?
You mean when it reach 0.8500? I will hold it for either at least 1:1 or BE.
This is just me, most people here don't count R:R...
  • #87,477
  • Jan 31, 2011 3:46pm Jan 31, 2011 3:46pm
Quoting Adilius07
Well the day is almost over and I moved my SL to BE.
So whatever happens this is the winner, right
If runner happens oh I will hold it forever I promise....
my plan was this....

Quoting Patrick.
I saw the BRN my plan is sell 8590 stop 8672 1/2 off at 8550 move to BE...... I am new to this J16 method
seems like a PPZ area between 8522 and BRN 8500.
  • #87,478
  • Jan 31, 2011 3:49pm Jan 31, 2011 3:49pm
Quoting Patrick.
my plan was this....



seems like a PPZ area between 8522 and BRN 8500.
So you are in this trade now, right? Did you sell at that level you wanted?
Looks as that was just a perfect level to sell really.
  • #87,479
  • Jan 31, 2011 4:08pm Jan 31, 2011 4:08pm
Not much going on after I entered short, just a tiny profit. That daily BEOB didn't provide me with a solid lvl for a sell, switching to a 2-daily TF keylvl are far more clearer. Now we have a 2D-PB with its left eye as our reference lvl to look for a sell ....... quess what, on the 1H-TF price gave me my sell trigger right at the left eye, also confluence with a 50% pullback of that 2D-PB. Now lets see if price is able to break that 2D-PB .............
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Pipcrawler
  • #87,480
  • Jan 31, 2011 4:18pm Jan 31, 2011 4:18pm
Quoting Adilius07
So you are in this trade now, right? Did you sell at that level you wanted?
Looks as that was just a perfect level to sell really.
I sold....
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