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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

  • #88,821
  • Feb 12, 2011 6:57am Feb 12, 2011 6:57am
Quoting Atc
Once again, fantastic vid Ghous!...
Wow nice Atc..i would like to learn more about MARKET DYNAMICS!!
  • #88,822
  • Feb 12, 2011 6:59am Feb 12, 2011 6:59am
Quoting ghous
Hey Bill,

One thing to keep in mind when trading IPBs is that to start off with IPBs are pin bars. So for an IPB to qualify as a trad it must pass the test of being a good pin bar by virtue of its shape (length of the nose, overall size etc)

The best way to do it is to (in your mind) just flip the bar over and ask yourself if you would have traded the bar had it been a regular pin bar. I have done it literally for you in the first chart to give you an idea.

Clearly this is a very small bar compared to the up move and you don't even...
  • #88,823
  • Feb 12, 2011 7:05am Feb 12, 2011 7:05am
Quoting AvanishDemo
Wow nice Atc..i would like to learn more about MARKET DYNAMICS!!
So would I...trying to sort it all out.
  • #88,824
  • Feb 12, 2011 11:11am Feb 12, 2011 11:11am
Hi Guys
been a long time viewer of this wonderful thread, all you guys are an inspiration and a credit, the time and patience you give to others is tremendous and I would just like to say a big big thank you.
I love price action and in 3 years of trading have never really been able to be consistent but this thread has helped me so much and the information contained within and consistently given is price less.

I have included a chart I have been watching and would like a bit of advice if possible to just confirm if I am seeing things right.
I see a down trend on the daily with a retrace to the 1.3200 level
I see confluence around the 1.3200 RN
I see price just under the 150ma
I see price bouncing off the 61.8 fib

All I seem to be waiting for is Price Action confirmation in the form of a Pin or a Beob to continue the down trend
Would I be correct in my assumption here?
many thanks guys

respect

Tom (UK)
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  • #88,825
  • Feb 12, 2011 11:26am Feb 12, 2011 11:26am
Quoting Atc
Once again, fantastic vid Ghous!

You brought out the topic of wicks and there importance. Although, it has been discussed in James16 and Mikes vids, the emphasis you placed on them in my view is of needs to be exagerated. Further, in my view, although it may not be correct, that the wicks at the big round numbers or round numbers or first touch back at ppz's with BRN's are crucial.

Some of my thoughts, at these spots (Rn's Brn's, ppz's) where price returns are where the supply/demand exist or where there are lots of orders sitting, i.e. lots...
hey Bill, I am not an order flow expert nor have done any extensive reading on it, but yeah wicks are important for various order flow reasons and the ones you pointed out make sense.

cheers.

g.
I believe . . .
  • #88,826
  • Feb 12, 2011 11:35am Feb 12, 2011 11:35am
Quoting booktimes
Hi Guys
been a long time viewer of this wonderful thread, all you guys are an inspiration and a credit, the time and patience you give to others is tremendous and I would just like to say a big big thank you.
I love price action and in 3 years of trading have never really been able to be consistent but this thread has helped me so much and the information contained within and consistently given is price less.

I have included a chart I have been watching and would like a bit of advice if possible to just confirm if I am seeing things right.
I see...
Hey Tom,

my thoughts are on the chart.



g.
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I believe . . .
  • #88,827
  • Feb 12, 2011 11:36am Feb 12, 2011 11:36am
Hey Ghous,
last time u taught me abt IB setup..

now is this IB making a setup..?

fibo ret level..1.35BRN..got tested at 1.35 n closed above
so can we look for "buy" here?

concern is the yellow horizontal line over there..

wat r ur thoughts?
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  • #88,828
  • Feb 12, 2011 11:49am Feb 12, 2011 11:49am
Quoting ghous
Hey Tom,

my thoughts are on the chart.



g.
Here's something for Tom and all new at this.

"The power of confluence"

Somehow we all begin by looking for just these as taught by the thread and the gurus that built it and its amazing how sometimes you get carried away in search of something 'better' and then the simplicity and the easiness of the basics comes back and smacks you in the face via a chart or 2.

If its not simple, its not J16.

2 back to back setups. First is an IB off the 61.8 fib 13750 PPZ and the 150 EMA. The second is a pin bar off the fib confluence and the 13550 PPZ area.

g.
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I believe . . .
  • #88,829
  • Feb 12, 2011 11:55am Feb 12, 2011 11:55am
Quoting AvanishDemo
Hey Ghous,
last time u taught me abt IB setup..

now is this IB making a setup..?

fibo ret level..1.35BRN..got tested at 1.35 n closed above
so can we look for "buy" here?

concern is the yellow horizontal line over there..

wat r ur thoughts?
Damn! You nailed that or what!?

Exactly my thoughts. I think its too close to a swing low to be shorting, and lacking in the space department if you think about a long.

Again IBs are the most commonly occurring PA bars and the most tricky as well (aside from IPBs maybe) everything must line up perfectly to give you a heads up on an IB setup.

Picky Picky Picky. . .

g.
I believe . . .
  • #88,830
  • Feb 12, 2011 1:50pm Feb 12, 2011 1:50pm
aon on weekly
check for breakout next week.
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meine augen sind die sterne
  • #88,831
  • Feb 12, 2011 3:05pm Feb 12, 2011 3:05pm
Quoting ghous
Hey Tom,

my thoughts are on the chart.



g.
To add to what Ghous explained. For what it's worth, and I know these are discretionary....a confluencing trendline.

Regards,

Bill
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  • #88,832
  • Feb 12, 2011 3:53pm Feb 12, 2011 3:53pm
on the radar for next week

Support , look to turn into resistance. Will watch for PA to confirm
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  • #88,833
  • Feb 12, 2011 7:26pm Feb 12, 2011 7:26pm
Quoting mbqb11
on the radar for next week

Support , look to turn into resistance. Will watch for PA to confirm
yes, Mike, had this on the radar also ....was just going to post and read just above.....certainly looks long...maybe everybody else is to and we will get a nice burst...maybe no retest though...how many stops will get hit above ?
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  • #88,834
  • Feb 12, 2011 8:12pm Feb 12, 2011 8:12pm
Quoting ghous
Here's something for Tom and all new at this.

"The power of confluence"

Somehow we all begin by looking for just these as taught by the thread and the gurus that built it and its amazing how sometimes you get carried away in search of something 'better' and then the simplicity and the easiness of the basics comes back and smacks you in the face via a chart or 2.

If its not simple, its not J16....
Ghous

On the 2nd chart, the 2 Day Pinbar on EURCAD was just above the BRN 1.35. I thought that would be a trouble area. I was looking to short the same but did not do that because of the reason mentioned.

0908
  • #88,835
  • Feb 12, 2011 8:21pm Feb 12, 2011 8:21pm
Quoting forex0908
Ghous

On the 2nd chart, the 2 Day Pinbar on EURCAD was just above the BRN 1.35. I thought that would be a trouble area. I was looking to short the same but did not do that because of the reason mentioned.

0908
yeah it was the 1.35 - 1.355 PPZ area. I was merely pointing towards the importance of location confluence. Not necessarily A+ setups perfect in all aspects of our criterion.

g.
I believe . . .
  • #88,836
  • Feb 12, 2011 9:34pm Feb 12, 2011 9:34pm
Working on single bar analysis as I think this may be the key to keeping it simple and gaining deeper insight into what the big guy is doing.

I thought I would post a short video so the seniors can see what I am up to and hopefully correct any errors.

Note, I am not even looking if these are good setups at a good location or not, I am taking them purely at face value and trying to work out the puzzle from the hints provided by price.

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  • #88,837
  • Feb 12, 2011 9:53pm Feb 12, 2011 9:53pm
Quoting Pinbar
Working on single bar analysis as I think this may be the key to keeping it simple and gaining deeper insight into what the big guy is doing.

I thought I would post a short video so the seniors can see what I am up to and hopefully correct any errors.

Note, I am not even looking if these are good setups at a good location or not, I am taking them purely at face value and trying to work out the puzzle from the hints provided by price.

http://www.youtube.com/watch?v=9TZtqNuhKp4
Nice work pin bar.

g.
I believe . . .
  • #88,838
  • Feb 12, 2011 9:59pm Feb 12, 2011 9:59pm
Quoting ghous
Nice work pin bar.

g.

Thanks Ghous.

I think this is probably a good exercise in keeping it simple if we can keep our eye off the right hand side of the screen.

Strategy tester is the way to go.
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  • #88,839
  • Feb 12, 2011 11:11pm Feb 12, 2011 11:11pm
Working on EUR/USD from 2003

Just took this BEOB and am BE+ looks like a runner.


EDIT: Just closed it out for 250 pips.

Interesting

EDIT: Good place to close it out at the 365 as this bullish PB just formed.
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  • #88,840
  • Feb 12, 2011 11:44pm Feb 12, 2011 11:44pm
Quoting aserbfx
aon on weekly
check for breakout next week.
and this one here, too.
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meine augen sind die sterne
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