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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

  • #92,501
  • Mar 30, 2011 9:06am Mar 30, 2011 9:06am
Quoting teemo
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.
Are you able to put a link up for material by this guy? I Googled him and there are a lot of links. I found a few torrents but they all look pretty dead.
  • #92,502
  • Mar 30, 2011 9:07am Mar 30, 2011 9:07am
Quoting Ifmyante
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
You were being too clever for me!
  • #92,503
  • Mar 30, 2011 9:07am Mar 30, 2011 9:07am
Quoting jeurre
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
It also looks like a breakout&retest of double bottom at the daily support.
  • #92,504
  • Mar 30, 2011 9:11am Mar 30, 2011 9:11am
I can't locate a file with all the relevant links - I know it's somewhere on my computer and will find it and post it. But for now look this up; go through Sam's articles which will certainly give you a good idea. Here's a link to the archive:
http://tradingacademy.com/free-resou...wsletters.aspx

For me, though I love the concept I find it must be aligned with good technical analysis such as J16, Trend analysis, Candle/Chart patterns..


Quoting six gun
Are you able to put a link up for material by this guy? I Googled him and there are a lot of links. I found a few torrents but they all look pretty dead.
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #92,505
  • Mar 30, 2011 9:15am Mar 30, 2011 9:15am
Quoting teemo
Hey there Brother, I learned a ton...
many thanks Sir!

Quoting arsa
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
in fairness, he didnt mention his stop & target ('Daily 150 seems like a good target').
but he did mention 'good for few pips'.

clearly, it's not a trade for everyone.
  • #92,506
  • Mar 30, 2011 9:22am Mar 30, 2011 9:22am
looks quite good.

usdchf: was a loser.-stopped out at be.
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  • #92,507
  • Mar 30, 2011 9:23am Mar 30, 2011 9:23am
Here's just one other example from the same pair last year.

Fine BUOB in a good position.

See what happened
Attached Image(s) (click to enlarge)
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  • #92,508
  • Mar 30, 2011 9:33am Mar 30, 2011 9:33am
I think it might be prudent to get permission from our seniors before advertising SS or any other commercial venture here.

Granted, we know he's the one sitting at our FTA with his own rifle, but I still think it's best to ask
  • #92,509
  • Mar 30, 2011 9:35am Mar 30, 2011 9:35am
Quoting teemo
I can't locate a file with all the relevant links - I know it's somewhere on my computer and will find it and post it. But for now look this up; go through Sam's articles which will certainly give you a good idea. Here's a link to the archive:
http://tradingacademy.com/free-resou...wsletters.aspx

For me, though I love the concept I find it must be aligned with good technical analysis such as J16, Trend analysis, Candle/Chart patterns..
Cheers for the link - there are plenty of nice little articles here. Worth a look at I think.

Not sure that this was an advert for SS. This stuff in front of me is free and the link is "free-resources" but I understand your point.
  • #92,510
  • Mar 30, 2011 9:53am Mar 30, 2011 9:53am
Quoting Xeniz
Looking at this, would we look at bottom of price as we are bottom half of MACD or still top of price. Are these lines long enough to consider a divergence factor?

Thanks,

X.

Attachment
Hey X

Yep this would be hidden bullish divergence. Since the MACD is less sensitive in general the more space b/w the easier it is too see and that will pop up more then a scenario like that. Remember though it's just a hint or additional confluence tool

Take care
Mike
  • #92,511
  • Mar 30, 2011 9:56am Mar 30, 2011 9:56am
Quoting NSGoh
Hi James16 and all seniors

I'm a newbie trader and am currently following this thread to learn and it has definitely been very fruitful. I'm currently still learning and testing though.

I have attached 2 pictures of USD/CHF, 1 broad view, and the other zoomed in.

Based on the charts that I have attached, these are my views:

- USD/CHF is downtrending
- Recently, there was a pullback from a low of the prices
- There was a BEOB on 28 Mar
- Current day, a pin might be forming
- Prices are below the R line I have drawn ( which I'm not sure if I'm...
Hey NS

Welcome to the j16 club

Technically that bar is not a beob because it engulfed a sunday bar(the previous bar before your beob). We actually ignore these sunday bars. As for the pinbar, I would have to see a very strong close to want to consider selling simply based on the size of the bar. It would definitely need to close below 9200, see if you can spot why

Again welcome bud
Mike
  • #92,512
  • Mar 30, 2011 10:08am Mar 30, 2011 10:08am
Quoting mbqb11
Hey NS

Welcome to the j16 club

Technically that bar is not a beob because it engulfed a sunday bar(the previous bar before your beob). We actually ignore these sunday bars. As for the pinbar, I would have to see a very strong close to want to consider selling simply based on the size of the bar. It would definitely need to close below 9200, see if you can spot why

Again welcome bud
Mike
Hi Mike

Thanks so much for the sharing. After reading your reply, I then noticed that I had incorrectly identified that BEOB, thanks.

As for the question of why you would like to see the price close below 9200 before you would consider it a Pin bar, is it because of the following?

- Price had touch this mark on 02 Mar
- Following that, a number of days had tested that region before it broke out downwards
- And also, now the price is testing that region again

Regards
NS
  • #92,513
  • Mar 30, 2011 10:14am Mar 30, 2011 10:14am
Hi Mike,

Do you have a broker that have a 4 hour close for 15 minutes ago? All these daylight saving times messed everything up again.

Thanks,
Pat
  • #92,514
  • Mar 30, 2011 10:14am Mar 30, 2011 10:14am
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)
All good analysis by you guys. I would wait for something strong as well. These areas come up all the time , for me the key is being patient for the area + bar setup + story to all line up. Then you won't mind passing on the little guys(poodles)

I am still a fan of walking the family pit bull

Mike
  • #92,515
  • Mar 30, 2011 10:16am Mar 30, 2011 10:16am
Good stuff 6G, good too see you posting

seems like my rant last night , it's important stuff

Best
Mike

Quoting six gun
AUD/USD



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...
  • #92,516
  • Mar 30, 2011 10:19am Mar 30, 2011 10:19am
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.

Habeeb what's up bud

right to the 1.6 BRN

Good to see you bud
Mike
  • #92,517
  • Mar 30, 2011 10:21am Mar 30, 2011 10:21am
Quoting Mg42
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...
Welcome MG, glad to have you and glad to hear about your progress. The great thing about PA, S/R is that its applicable to all timeframes. And there is no need to be on the lower timeframes if your time doesn't allow. Daily/weekly are where many never leave b/c it takes very little time to follow and upkeep once one gets good at it

Hope to see you posting more, nice to see lots of new faces today

Mike
  • #92,518
  • Mar 30, 2011 10:25am Mar 30, 2011 10:25am
Quoting Ifmyante
Here's just one other example from the same pair last year.

Fine BUOB in a good position.

See what happened
We do very similar things here, but we simply call them retracement entries.
For example look at where your entry is on that BUOB. Roughly the 50% mark plus a PPZ(multiple bar highs/lows). Our retrace people salivate for that stuff

A lot of my material for example uses the foundations of supply/demand into everything I do. I strongly agree with this stuff. It's not that its magic, its just about creating a better strong story to go with your trades. It's quite simple stuff just as PA S/R is. People think its a hidden tool to the markets. It's about understanding WHY. Does the why always translate into winners? Heck no. Nothing does. But it sure helps. Understanding as simple a concept as where price closes will help your trading greatly.

At the end of the day if you can build a story around WHY a price bar should carry weight you are going to learn a heck of a lot more.

Best
Mike
  • #92,519
  • Mar 30, 2011 10:26am Mar 30, 2011 10:26am
Quoting NSGoh
Hi Mike

Thanks so much for the sharing. After reading your reply, I then noticed that I had incorrectly identified that BEOB, thanks.

As for the question of why you would like to see the price close below 9200 before you would consider it a Pin bar, is it because of the following?

- Price had touch this mark on 02 Mar
- Following that, a number of days had tested that region before it broke out downwards
- And also, now the price is testing that region again

Regards
NS

Bingo bud, that march second low is a very crucial point for me of the CURRENT battle b/w buyers and sellers.

Nice NS

Mike
  • #92,520
  • Mar 30, 2011 10:27am Mar 30, 2011 10:27am
Quoting plund
Hi Mike,

Do you have a broker that have a 4 hour close for 15 minutes ago? All these daylight saving times messed everything up again.

Thanks,
Pat
Hey Pat

I am missing one too. I think april 1 we have more time changes and we should be back to more normal times. I am waiting till then, b/c I have a headache going through all these feeds every other day LOL

Best
Mike
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