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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

  • #92,481
  • Mar 30, 2011 5:32am Mar 30, 2011 5:32am
Looks like you got your short positions filled over there

Quoting the_wizard
I am pretty sure you will see offers coming back into the market around 1.6060 - 1.6095. That is certainly where I will look for shorts.
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  • #92,482
  • Mar 30, 2011 5:40am Mar 30, 2011 5:40am
Quoting jarroo
Also this Daily PB, it closed above. It should be interesting to see if this small bullish PB beats the bigger bearish PB based on how the PPZ level is acting . .which is now Support .. because Price broke through and closed above on the Weekly.
Very interesting, Jim, the battle of parity continues, dug in the trenches of 1.000...god I love this ....we know, and as James has taught we often see opposing PB's/reversals...this does not surprise us, right.
  • #92,483
  • Edited 6:00am Mar 30, 2011 5:45am | Edited 6:00am
AUD/USD

Quoting tikky_tikky
Hi folks!

On my demo account, this Pinbar failed. Your inputs will be highly appreciated.

Thanks
Your question was answered in another post.
The PB did not fail. It is easy to think a pinbar will cause price to move wholeheartedly in one direction or other. They do not. There are lots of things to look at in pinbars, not just that there is one there.

The pinbar is quite small. Look at the bullish trend coming up behind it. Is that pinbar going to reverse that? Unlikely and it did not.

The PB has not failed. Whenever you look at a formation, whether it be a pinbar or an outside bar or any of the others mentioned here. Think about where it will send price. In this case it sent price down, like you might expect but you say it failed because you expected price to go further down. Price went to where you might expect for a weak pinbar with a strong bullish trend behind it. Look to the left. You will see the top of the last bullish move. The large bullish bar after the pinbar went below the pb, it goes as far as the level of the last bullish trend. That level is support now. It will resist moves down below it. The pb took price as far as there but it was insufficient to push price further.
A small pb with a strong bullish trend behind it and a support level just underneath is only likely to take price down to the support level before it bounces off this and moves back up.

ps The AUD/USD is at an all time high (29 year high). Commodities are strong. Australia is an oil and gold producer. Both are at high levels so demand for the AUD to pay for these is high. That might put the tiny pb into more perspective.
  • #92,484
  • Mar 30, 2011 6:37am Mar 30, 2011 6:37am
Quoting Adilius07
Since so much interest in this pair, if I may comment also...
I think this is a weak setup. Especially due to bad location.
This is shorting a BEOB into the 1) major PPZ, 2) round number and 3)against trend.

Of course price can go only up or down, but I think the odds to the upside are higher (due to confluence of PPZ, Trend, RN)

I agree. Let's wait another day and see how this monthly bar closes.
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  • #92,485
  • Mar 30, 2011 6:46am Mar 30, 2011 6:46am
Quoting Pinbar
I agree. Let's wait another day and see how this monthly bar closes.
Hi Pinbar, nice to see you!
Hope all is well, are you in China now?
  • #92,486
  • Mar 30, 2011 7:09am Mar 30, 2011 7:09am
Keep in mind that there are very large options expiring today on USD/CHF(strike 0.9200) at 10am NY time (London 3pm). Spot price should gravitate around that level until then.
++
  • #92,487
  • Mar 30, 2011 7:18am Mar 30, 2011 7:18am
Hi all,
I've hardly posted lately because I've been doing a lot of study on Supply and Demand imbalances (I met another great group of traders who fleece the market with their method).

I've been looking for a way to incorporate this into my own J16 trading method, and this morning, while in DD on my AUD/CAD BUOB long position, I found a perfect way.

Pros:
It halves the headache of DD
You don't lose a full position on a full bar loss
It offers (in this case anyway) another (low risk) entry on a retracement.

Cons:
It halves your profit if you get an instant runner.

I'm going to now backtest to see how often this works out.
Seniors, if you think this post doesn't fit the thread, pm me and I'll delete it at once, or if you'd like further explanation of where I'm coming from, I'd be glad to oblige.

Michael

PS. Good to have you back Steve, hope you're doing great
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  • #92,488
  • Mar 30, 2011 7:24am Mar 30, 2011 7:24am
Quoting ts63
I'm now out with +15 pips mostly because this is moving much too slow.
good for 40 pips. price now caught in previous box.
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  • #92,489
  • Mar 30, 2011 7:36am Mar 30, 2011 7:36am
Hi all,
seems like nobody trades cable anymore these days. This 4hr pin should be good for a few pips.

 

  1. nice form
  2. off of EMA365
  3. price bouncing off 1hr EMA150

Daily EMA150 seems like a good target.
Here's the chart.

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Keeping it Simple
  • #92,490
  • Mar 30, 2011 7:36am Mar 30, 2011 7:36am
Hi all,

I am new to the forum and want to introduce my self before participating.

I've been learning this business for roughly 1.5yrs and have reached some consistency within the past few months. I've noted that decisions made based on 4H PA not only produced the best results but kept my account in the black (compared to lower time frame decisions). With these results in mind, the wise thing to do is stay at the 4H and above.

Given time constraints and a personal decision to stay connected to my family, I want to focus on dailyTF setups and learn the concepts taught in this forum more in depth by getting involved. I've admittedly lurked this site for a long time (boo on me!!).

I look forward to expanding my trading knowledge with you all.
MG42
  • #92,491
  • Mar 30, 2011 7:45am Mar 30, 2011 7:45am
wow, first time i see habeeb post live.
nice to see u here, Sir
  • #92,492
  • Mar 30, 2011 7:48am Mar 30, 2011 7:48am
Quoting Ifmyante
Hi all,
I've hardly posted lately because I've been doing a lot of study on Supply and Demand imbalances (I met another great group of traders who fleece the market with their method)..
hey Michael, u've personally met them?
..or in another thread in FF?

thanks Sir!
  • #92,493
  • Mar 30, 2011 7:54am Mar 30, 2011 7:54am
Quoting supremeChaos
hey Michael, u've personally met them?
..or in another thread in FF?

thanks Sir!
Hi SC.

You've just reminded me I need to get out more. I haven't physically met anybody new in quite a while
  • #92,494
  • Mar 30, 2011 8:03am Mar 30, 2011 8:03am
Quoting Mg42
Hi all,
....
Hi Mg42,
hope to see u post more.
Welcome!

Quoting Ifmyante
Hi SC.
You've just reminded me I need to get out more. I haven't physically met anybody new in quite a while
me too, for a few years now.
it's a small price to pay for what i envision to achieve. (small risk, huge reward )

.
.
for me, it's passion.
  • #92,495
  • Mar 30, 2011 8:10am Mar 30, 2011 8:10am
Quoting supremeChaos
for me, it's passion.
Nail right on head!

I originally thought trading might be an interesting sideline to my life, but the more I learn and the more natural it becomes, the more I know that this is what I want to do for the rest of my life, and for an Aquarian, that's really saying something!!!!
  • #92,496
  • Mar 30, 2011 8:15am Mar 30, 2011 8:15am
Quoting Ifmyante
Hi all,
I've hardly posted lately because I've been doing a lot of study on Supply and Demand imbalances (I met another great group of traders who fleece the market with their method).

I've been looking for a way to incorporate this into my own J16 trading method, and this morning, while in DD on my AUD/CAD BUOB long position, I found a perfect way.

Pros:
It halves the headache of DD
You don't lose a full position on a full bar loss
It offers (in this case anyway) another (low risk) entry on a retracement.

Cons:
It halves your profit...
Any new information that is based on PA is interesting. Unless you have the perfect method there is always room for improves and evolution.

Not to be funny but you talk about outside bars and exemplify your argument with a chart with one circled. But this isn't an outside bar.

Straight from James -
"Bullish Outside Bars: a bar where the high is higher than the previous bars high and lower than the previous bars low."

The bar does not engulf the previous bar so it can't be an outside bar. Not knocking what you are saying just you might used a better chart example.
  • #92,497
  • Mar 30, 2011 8:43am Mar 30, 2011 8:43am
Hey there Brother, I learned a ton about Supply & Demand imbalance levels. It is now a natural component in my trading and unquestionably a great tool to incorporate and I find would work very harmoniously with J16 concepts. The authority in this is Sam Seiden who is an OTA Instructor. If you are interested I'll be happy to send you some material.


Quoting supremeChaos
hey Michael, u've personally met them?
..or in another thread in FF?

thanks Sir!
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #92,498
  • Mar 30, 2011 8:44am Mar 30, 2011 8:44am
Quoting habeeb
Hi all,
seems like nobody trades cable anymore these days. This 4hr pin should be good for a few pips.

 

  1. nice form
  2. off of EMA365
  3. price bouncing off 1hr EMA150

Daily EMA150 seems like a good target.
Here's the chart.

I'll say it is risky this particular setup because price is just above today asian range which very often gives S/R.

But we'll just see
  • #92,499
  • Mar 30, 2011 8:58am Mar 30, 2011 8:58am
wow, senior of the seniors, with all respect !

my chart feed speaks the same story in a different form. after the false break, it is retracing back to re-test the trendline now. your analyze gives more conflunce on my understanding, thanks

Quoting habeeb
Hi all,
seems like nobody trades cable anymore these days. This 4hr pin should be good for a few pips.

 

  1. nice form
  2. off of EMA365
  3. price bouncing off 1hr EMA150

Daily EMA150 seems like a good target.
Here's the chart.

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  • #92,500
  • Mar 30, 2011 9:03am Mar 30, 2011 9:03am
Quoting six gun
. But this isn't an outside bar.
Hi six,

Sorry if I didn't draw the H4 BEOB clearly. I was showing it to you on an H1 chart.

This might be clearer, I've added the larger time frame indi. I've got the H4 bars superimposed onto the H1 chart.

Looks so far like it was a pretty good place to re enter
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