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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

  • #88,321
  • Feb 7, 2011 4:12pm Feb 7, 2011 4:12pm
Quoting mbqb11
Really will come down to trade mgmt. Most would trade this pin and expect a large move and take a full bar loss. A smart trader would take this trade with the information and protect themselves getting their stops to b/e quickly knowing the situation. I hope you understand I wasn't saying not to trade it(even though I wouldn't because of my rules), never would I do that. Just so others can see if this hits the FTA and reverses we are not surprised.

Best
Mike
Yeah. I'd take off the table 1/2 of my position after some pips profit and the rest BE quickly.
Thanks Mike
  • #88,322
  • Feb 7, 2011 4:33pm Feb 7, 2011 4:33pm
Just wondering if you think this box is drawn correctly? If so did I make a mistake placing a trade at the top of it?
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  • #88,323
  • Feb 7, 2011 6:15pm Feb 7, 2011 6:15pm
Quoting Atc
This area looks interesting for some PA signals.

Hey Bill.

I like that 1.5375 area and you are showing good confluence at that level. . .and we can see that Price reacted bearishly and consolidated at that area.

I picked the 1.5375 because Price could not close above this level for some time recently . . Resistance. Now we have Price closing above on the Daily. . .I'm looking for this level to now act as strong Support.

The neutral looking PB does not have a close below this level. . .more signs to me that upward movement is at hand.

If we can get a strong close below the 1.5375 I can see this level returning to Resistance . .but until then . .I see this level as a Support.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,324
  • Feb 7, 2011 6:22pm Feb 7, 2011 6:22pm
Quoting spookie94
Just wondering if you think this box is drawn correctly? If so did I make a mistake placing a trade at the top of it?
Hi Spookie,

I do hope somebody more qualified than I will reply to you soon.
Your question would have been much easier to answer before you took the trade, if you know what I mean.
If you stuck to your rules, you didn't make a mistake.
If it was a breakout trade, a bigger buffer than the pip or two you entered on, or a pull back and advancement would have been safer.
As a Weekly BUOB trade, that bar engulfs many before it, and has nothing but space above.
Another thing in your favour is the support you're getting fom the 150 on the daily. It's a little below your SL right now, but is heading up there.


I'm going to ask for an opinion before a possible trade, on EURAUD.
I see no real hope of it being a runner, but maybe if it's high probability 60 pips that would be okay?

It's got nearly a tweezer bottom on the daily, and is consolidating nicely on the H1, having closed the day over 1.34

I don't see 1.35 having been properly tested for resistance, so would consider going long on a BO of the yellow box without waiting for a pullback.

This call may just be because I'm expecting an head and shoulders pattern to be created, so I thought I'd put it out there

PS. My best squeeze in of a PPZ is 1.3410, which price closed above by 1 pip
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  • #88,325
  • Feb 7, 2011 6:27pm Feb 7, 2011 6:27pm
Quoting mbqb11
Really will come down to trade mgmt. Most would trade this pin and expect a large move and take a full bar loss. A smart trader would take this trade with the information and protect themselves getting their stops to b/e quickly knowing the situation. I hope you understand I wasn't saying not to trade it(even though I wouldn't because of my rules), never would I do that. Just so others can see if this hits the FTA and reverses we are not surprised.

Best
Mike
Hey Mike

tempted with the EG pin but as you say the size of the bar is small and FTA not far away. A bigger pin would have been nice so I will standby and see what happens here.

Kal
  • #88,326
  • Edited 6:58pm Feb 7, 2011 6:44pm | Edited 6:58pm
Quoting Kalbar
Hey jarroo

Noticed this one also but in addition to your (spot on) analysis would it be correct to say this setup would have more weight if the swing high was a little bit higher eg 1.4000, giving the setup more space to trade into?

Kal
Yes, if that BEOB was up at the 1.4000 BRN with some Space, little traffic, etc., it would be a much better setup.

You can see the problems this BEOB is having at the 1.3500 BRN. Its at swing High but not very high to give it Space. Running dead on into previous Highs, which was a Resistance level, 1.3360ish. Price breaks through it and closes above and we can see its now acting as Support.

Could you image taking a long trade at the 1.3360, with that BEOB looking straight at you? . . This transformation of Resistance turning into Support (and vice versa) is a very powerful thing . .over time you'll learn to trust it.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,327
  • Feb 7, 2011 7:32pm Feb 7, 2011 7:32pm
Hi, Jarroo

What's your opinion on how the UJ is going.

Lots of flagging on H4, maybe the LO will push it through?
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  • #88,328
  • Feb 7, 2011 7:41pm Feb 7, 2011 7:41pm
Quoting Pinbar
Hi, Jarroo

What's your opinion on how the UJ is going.

Lots of flagging on H4, maybe the LO will push it through?

The next bar didn't break the Daily BUOB so the bullish momentum has either faded or its building. I like the wedge formation that some one pointed out earlier. Classic Mike setup in the making.

As an indiviual setup, the BUOB is sure in the mix of a mess.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,329
  • Feb 7, 2011 7:44pm Feb 7, 2011 7:44pm
Quoting jarroo
Yes, if that BEOB was up at the 1.4000 BRN with some Space, little traffic, etc., it would be a much better setup.

You can see the problems this BEOB is having at the 1.3500 BRN. Its at swing High but not very high to give it Space. Running dead on into previous Highs, which was a Resistance level, 1.3360ish. Price breaks through it and closes above and we can see its now acting as Support.

Could you image taking a long trade at the 1.3360, with that BEOB looking straight at you? . . This transformation of Resistance turning into Support...
Jarroo

I am (very) slowly getting there and looking for 'the story' of PA rather than just looking for pins, beob's etc. Your instruction on Support/resistance is making me think about it all much more.....sorry for the burning smell. Your charts are great stuff bro so please keep it up!

Thanks

Kal
  • #88,330
  • Feb 7, 2011 7:47pm Feb 7, 2011 7:47pm
Question on my chart and my moving average....from chelski's chart he has a 150 at the brn, and by the looks of his post my 150 moving average is not up to par with the rest of the group. i do have ibfx if brokers charts/indis make a difference

Quoting Chelski
Would any of those who touch trade have taken this?
1.35 BRN,
150 EMA
1st Test since we broke
consolidation box on 4h before we broke 1.35 resistance (i would have been looking on 4h for entry.)
38 Fib sits just under 1.35 for this leg up too.
I don't touch trade but i have been looking at them and liked the confluences.

I would be aiming for the bar lows near 1.3560-70 at FTA and manage from there
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DM if you have any questions
  • #88,331
  • Feb 7, 2011 7:54pm Feb 7, 2011 7:54pm
Quoting Kalbar
Jarroo

I am (very) slowly getting there and looking for 'the story' of PA rather than just looking for pins, beob's etc. Your instruction on Support/resistance is making me think about it all much more.....sorry for the burning smell. Your charts are great stuff bro so please keep it up!

Thanks

Kal

I have looked at my past trades and setups where the PA looked great, the location looked great, everything looked great . . and yet they still didn't work out . . .why??

I then looked closer at this simple Price Flip . .this Sup to Res . .Res to Sup that James16 continuously talks about. . .almost every setup was halted by this obvious yet unassuming transition of Price. Its an event that I look for and never underestimate.
Indicators show the past. Price Action "Indicates" the future.
  • #88,332
  • Feb 7, 2011 8:04pm Feb 7, 2011 8:04pm
Quoting Pinbar
EUR/JPY Monthly BUEOB is looking interesting.

Weekly bearish PB but, I think it hit its FTA.

Pb, . I like that your looking at the higher time frames for the PBT&CAorB.
On the Eur/Jpy, I like to look that these areas when PBT&CB. The close and the Highs for PBT&CA.

Check your Weekly, Daily and 4 hour TFs with these levels and apply PBT&CAorB.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,333
  • Feb 7, 2011 8:26pm Feb 7, 2011 8:26pm
Quoting jarroo
I have looked at my past trades and setups where the PA looked great, the location looked great, everything looked great . . and yet they still didn't work out . . .why??

I then looked closer at this simple Price Flip . .this Sup to Res . .Res to Sup that James16 continuously talks about. . .almost every setup was halted by this obvious yet unassuming transition of Price. Its an event that I look for and never underestimate.
Jarroo,
I've spent a lot of time on the private forum and hadn't checked this forum for a long time until around Christmas when I noticed a lot of your guidance for Pinbar. This got me digging. Until then, I thought I had understood the PPZ concept fairly well according to the James16 teachings you mention above. BUT, while remembering that they are "zones", your emphasis on looking for the price breaking through and CLOSING above or below so that you can better define these zones was an eye-opener for me. I hadn't really understood all of what James was teaching afterall. Thanks. If anyone needs clarity on this, check out the links on Pinbar's signature and some of the Nov 2010 posts by Jarroo. Fantastic.
Cheers,
John
  • #88,334
  • Feb 7, 2011 8:31pm Feb 7, 2011 8:31pm
Quoting jkrick33
Question on my chart and my moving average....from chelski's chart he has a 150 at the brn, and by the looks of his post my 150 moving average is not up to par with the rest of the group. i do have ibfx if brokers charts/indis make a difference
Hey Jkrick

Different feeds with different closes will have a different effects on the MAs. So they will be different and varying from broker to broker based on that particular brokers feed. Much like the shape of bars are aggregation of price, MAs, are aggregation of price as well. The feed with the 150 at the BRN is using a 5pm est close IBFX is an hour later

Best
Mike
  • #88,335
  • Feb 7, 2011 8:37pm Feb 7, 2011 8:37pm
An example chart on my watch list.

Notice how obvious these levels are, well respected. Makes it easier to find and manage trades in my experience
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  • #88,336
  • Feb 7, 2011 8:43pm Feb 7, 2011 8:43pm
Quoting jarroo
Pb, . I like that your looking at the higher time frames for the PBT&CAorB.
On the Eur/Jpy, I like to look that these areas when PBT&CB. The close and the Highs for PBT&CA.

Check your Weekly, Daily and 4 hour TFs with these levels and apply PBT&CAorB.
Yes, I think you marked a more appropriate area, in relation to the price movement. Must work on this. Sometimes I see a different area of S&R and it can lead me to a totally different synopsis.

Thanks Jarroo, appreciate it.
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  • #88,337
  • Feb 7, 2011 8:45pm Feb 7, 2011 8:45pm
Quoting johoma
Jarroo,
I've spent a lot of time on the private forum and hadn't checked this forum for a long time until around Christmas when I noticed a lot of your guidance for Pinbar. This got me digging. Until then, I thought I had understood the PPZ concept fairly well according to the James16 teachings you mention above. BUT, while remembering that they are "zones", your emphasis on looking for the price breaking through and CLOSING above or below so that you can better define these zones was an eye-opener for me. I hadn't really understood all of what...

Hi, Jahoma

Funny how people teaching us the same thing but with a slightly different perspective on it can sometimes give us a better grasp of things.

I know you are an old hand on this site but welcome back anyway.

Steve
  • #88,338
  • Feb 7, 2011 9:14pm Feb 7, 2011 9:14pm
Quoting jarroo
The next bar didn't break the Daily BUOB so the bullish momentum has either faded or its building. I like the wedge formation that some one pointed out earlier. Classic Mike setup in the making.

As an indiviual setup, the BUOB is sure in the mix of a mess.
Yes, I agree, it is a mess right now with no clear pointers where it wants to go. As you say, waiting it trading & this is where the story takes preference over the individual BUEOB. I like either the A or B scenario.
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  • #88,339
  • Feb 7, 2011 9:38pm Feb 7, 2011 9:38pm
Quoting jarroo
Hey Bill.

I like that 1.5375 area and you are showing good confluence at that level. . .and we can see that Price reacted bearishly and consolidated at that area.

I picked the 1.5375 because Price could not close above this level for some time recently . . Resistance. Now we have Price closing above on the Daily. . .I'm looking for this level to now act as strong Support.

The neutral looking PB does not have a close below this level. . .more signs to me that upward movement is at hand.

If we can get a strong close below the 1.5375 I can...
  • #88,340
  • Feb 7, 2011 11:41pm Feb 7, 2011 11:41pm
Quoting mbqb11
An example chart on my watch list.

Notice how obvious these levels are, well respected. Makes it easier to find and manage trades in my experience
Mike would you say that you only look for these obvious area's when trading. Do you ever enter a trade when the price flip isn't quite so obvious yet it's still there just hard to see? Or are these the levels that A+ trades are found at?
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