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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

  • #89,541
  • Feb 19, 2011 2:50pm Feb 19, 2011 2:50pm
Pin bar is of low quality but we have a ton of confluence
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  • #89,542
  • Feb 19, 2011 3:01pm Feb 19, 2011 3:01pm
Quoting jarroo
Yeah . that's the best way to go. Also going through the links on the 1st post.

Welcome abroad.
Thanks jarroo....I've followed this thread a while ago and took a break with trading forex....now looking to get back into it again
  • #89,543
  • Feb 19, 2011 4:10pm Feb 19, 2011 4:10pm
Quoting jarroo
That sucker has been winding up for some time now.

The squeeze is on . .


Agreed
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  • #89,544
  • Feb 19, 2011 4:37pm Feb 19, 2011 4:37pm
Quoting jarroo
Hey Pb

PBT&CAorB can be applied to any time frame. I like the high time frames not only for the higher amount of data or information they provide, but more so in the same vain of why Mike and James16 stress using the Daily and Weekly for PA setups.

Did you see my Euro trade?

Oh, I was under the impression this was a weekly bar only analysis method.

I see, thanks Jarroo.
  • #89,545
  • Feb 19, 2011 4:37pm Feb 19, 2011 4:37pm
how do you guys get to display W2 H8 H2 candles in mt4
  • #89,546
  • Feb 19, 2011 4:42pm Feb 19, 2011 4:42pm
Quoting jarroo
That sucker has been winding up for some time now.

The squeeze is on . .



How refreshing to hear Jarroo use such terminology as, "That Sucker".
  • #89,547
  • Feb 19, 2011 5:17pm Feb 19, 2011 5:17pm
Quoting DBallerz
how do you guys get to display W2 H8 H2 candles in mt4
Hey DB, this is the one I use but there may be better ones out there.

http://www.forexfactory.com/showthread.php?t=206301

Hope this helps,

-- Danny
  • #89,548
  • Feb 19, 2011 6:15pm Feb 19, 2011 6:15pm
Quoting Pinbar
Oh, I was under the impression this was a weekly bar only analysis method.

I see, thanks Jarroo.

PA and S/R levels (PPZ levels) work on all time time frames.

Take this Hourly GU chart. You can see the PBT&CAor B works out well here. Let's pretend its a Weekly chart, the pip amounts woud be much bigger.

The 1st example box where I say.,"It did give a bounce . .albeit a small one" . .may a few hundred pips instead of just 20 or so.


gotta go for now
later

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #89,549
  • Feb 19, 2011 6:39pm Feb 19, 2011 6:39pm
Hmm, my single bar analysis has led me back to the Jarroo methodology.

Previously, I have started off looking at the weekly chart and tried to find the PBT&CA or B. This sort of threw me off and I think I was picking not the best areas for this.

I decided to look first and foremost at the daily charts for a broad flip and then move up to the weekly to find the PBT&CA or B.

This I feel gives me more logical confines to wrap price up in.

Any thoughts appreciated Jarroo.

Really busy today so, no rush.

Thanks in advance
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  • #89,550
  • Feb 19, 2011 6:44pm Feb 19, 2011 6:44pm
Quoting jarroo
PA and S/R levels (PPZ levels) work on all time time frames.

Take this Hourly GU chart. You can see the PBT&CAor B works out well here. Let's pretend its a Weekly chart, the pip amounts woud be much bigger.

The 1st example box where I say.,"It did give a bounce . .albeit a small one" . .may a few hundred pips instead of just 20 or so.


gotta go for now
later

Jim

Thanks Jim

Yes, I can see how you are able to do this on any TF probably even M5 if you had to.



I have also got to run to Tokyo today. Hate the place sober. LoL
  • #89,551
  • Feb 19, 2011 7:00pm Feb 19, 2011 7:00pm
Quoting Pinbar
Thanks Jim

Yes, I can see how you are able to do this on any TF probably even M5 if you had to.



I have also got to run to Tokyo today. Hate the place sober. LoL
plot s/r on daily then look for PA on 4hr for great entries!
  • #89,552
  • Feb 19, 2011 8:05pm Feb 19, 2011 8:05pm
This doesn't look too bad. . . ...

g.
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I believe . . .
  • #89,553
  • Feb 19, 2011 10:07pm Feb 19, 2011 10:07pm
Quoting ghous
This doesn't look too bad. . . ...

g.
Hi Ghous,

Lets say we took this trade based on the fact that we have a nice PB (not the best of places), trading in direction of trend, possible H& S reversal pattern, resistance turning into support and the RN 2.12000.

How would you enter this trade & how would you manage it??

This what I would do:
- place a buy order at the break of the PB
- take some off at FTA of 2.14
- take some more off at 2.1500 (possibly BE at this point)
- if momentum is good and I decide to play it aggressively wait for 2.1600 prior to BE. at this point I will let this remaining small exposure that I have run till it gets exhausted or hit my stop at BE

With regard to my stop loss I would initially place it under 2.12. At FTA I would move it below the left eye. Finally I would BE.

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what do you think of my exit and entry strategy??

Harry
  • #89,554
  • Feb 19, 2011 10:32pm Feb 19, 2011 10:32pm
i have another one here, very similar setup to above but this time it will be direct breakout play. For some reason this doesn't look as good as GPY/NZD.

Here I would play a straight break of 1.8000, FTA at 1.81, @ 1.82 I would BE.

Initial stop below 1.78 then move to below left eye after FTA followed by BE.

What do you think???

I think I like the second chart much better.
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  • #89,555
  • Feb 19, 2011 10:33pm Feb 19, 2011 10:33pm
Quoting vasmiza
Hi Ghous,

Lets say we took this trade based on the fact that we have a nice PB (not the best of places), trading in direction of trend, possible H& S reversal pattern, resistance turning into support and the RN 2.12000.

How would you enter this trade & how would you manage it??

This what I would do:
- place a buy order at the break of the PB
- take some off at FTA of 2.14
- take some more off at 2.1500 (possibly BE at this point)
- if momentum is good and I decide to play it aggressively wait for 2.1600 prior to BE. at this point I will let...
Looks really good Harry, I like the way you've incorporated in your trade plan all the major minor trouble areas the trade may encounter. That's smart planning.

g.
I believe . . .
  • #89,556
  • Feb 19, 2011 10:47pm Feb 19, 2011 10:47pm
Quoting Xenaga03
I am interested in learning more about Price action and J16.

Is it best to read the thread from the beginning while at the same time keep up with whats happening on the last page? Theres close to 6000 pages that's allot to read!!!

Where to start?
Hi, also:

1. check those Seniors Summaries, posted by Cyrus (I think). Search for it.

2. Pick the traders whos trading appoach you like the most and follow all their posts and attachments - man this would really fasten your learning curve.

3. Download all James16 attachements (charts) - they are easy to understand as he puts his notes right on the chart.

4. Focus on Mike's charts, they are also easy to understand provided you are familiar with what he is looking on the charts, so read as much of his posts as you can, then go through all his charts and those triangles, trendlines, levels will slowely begin to make sense.

5. Try to study each subject separately. Like for example PPZ - I will choose Jarroo or Mike (Mike is easier at the beginning trust me), for space I will choose Ghous, where is FTA - I would go with Ghous too (he talks a lot about them, also see his videos) all breakouts choose Mike. I will stay away from Touch Trades for now, too hard really.


That is the way I do it, so please don't criticize me too much if you think this way is not the way, it really works for me to study this huge thread in this way!
  • #89,557
  • Feb 19, 2011 11:34pm Feb 19, 2011 11:34pm
Here's one breaking out. Strong close, good bar, but I don't like it being swing high, also it is right below 114 which looks to be the FTA here.

Any thoughts? Anyone would play it?

EDIT: If it had a longer tail I would consider to take it, but as is I skip...
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  • #89,558
  • Feb 19, 2011 11:54pm Feb 19, 2011 11:54pm
anz with a weekly pinbar off resistance area.
comments appreciated
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meine augen sind die sterne
  • #89,559
  • Feb 20, 2011 12:04am Feb 20, 2011 12:04am
touch of lower trendline on weekly cpu (australia).
forming a triangle. watch for a breakout to come in the next weeks.
or play now the ride to the upper line.
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meine augen sind die sterne
  • #89,560
  • Feb 20, 2011 12:51am Feb 20, 2011 12:51am
french bank bnp is in a sideways market since april 2009.
a break of the 60 euro may result in a (positive) explosion.
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meine augen sind die sterne
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