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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

  • #92,721
  • Mar 31, 2011 7:13pm Mar 31, 2011 7:13pm
Thinking I may be in trouble with this one. I set an alarm to move to BE but it missed by 3 pips and reversed on me. Hoping the BRN can help me out. And yes, I do see the PPZ to the left (didn't stick out as much when I placed the trade as it does now).
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  • #92,722
  • Mar 31, 2011 7:19pm Mar 31, 2011 7:19pm
Quoting mbqb11
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
Hi Mike

Thank you for the advice and thank you for the warm welcome from your first post too~~

I currently see a possible Sell in AUD/USD Daily based on the following:

- Checked Weekly, Monthly charts and AUD/USD is at an all time high
- Monthly charts shows a BUOB of Mar against Feb's bar
- However, weekly shows a weakening upward of the prices
- Followed by the current Daily pin bar shown in my attachments

In this case, is this a considerable Sell of AUD/USD?

Thanks and regards
NS
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  • #92,723
  • Mar 31, 2011 7:38pm Mar 31, 2011 7:38pm
Ifmyante, here's the situation for me and chart you asked for. I can only trade from 8pm to 11pm New York time. So I trade off daily bars. But I want to use lower TFs for RT entries so I can get at least a 2:1 return to FTA. That's my goal for now.

Attached is an actual trade I am in. (Forget why I am in as it would have never been blessed in this thread which I acknowledge). I indicate on the chart what hourly bar I start trading on. It looks like there was a logical place for an RT entry.

 I need to work on some guidelines as how to do this better. Is there any advice on this in this thread or on the PF?

Can I pm you my skype address so you can show me whatever you have as you offered to Adilius07?

If this post is in any way going off on a tangent then I ask the seniors to let me know. Thanks.
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  • #92,724
  • Mar 31, 2011 7:46pm Mar 31, 2011 7:46pm
Quoting NSGoh
Hi Mike

Thank you for the advice and thank you for the warm welcome from your first post too~~

I currently see a possible Sell in AUD/USD Daily based on the following:

- Checked Weekly, Monthly charts and AUD/USD is at an all time high
- Monthly charts shows a BUOB of Mar against Feb's bar
- However, weekly shows a weakening upward of the prices
- Followed by the current Daily pin bar shown in my attachments

In this case, is this a considerable Sell of AUD/USD?

Thanks and regards
NS

Hey NS

I like to keep it real simple for most situations. For me this one can be summed up simply in bar size

Hope my chart helps

Best
Mike
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  • #92,725
  • Mar 31, 2011 8:22pm Mar 31, 2011 8:22pm
Quoting spookie94
Could you talk him into placing it in the guest videos for us poor people
Better ask Mike about that.

But, it is a great video, Jim even says "he had the most fun making this video" and it comes over big time.
  • #92,726
  • Mar 31, 2011 8:56pm Mar 31, 2011 8:56pm
Quoting mbqb11
Hey NS

I like to keep it real simple for most situations. For me this one can be summed up simply in bar size

Hope my chart helps

Best
Mike
Hi Mike

Your chart has provided me answers and new knowledge. Thank you very much . I shall continue to study and observe for better opportunities.

Thanks
NS
  • #92,727
  • Mar 31, 2011 9:17pm Mar 31, 2011 9:17pm
Quoting spookie94
Thinking I may be in trouble with this one. I set an alarm to move to BE but it missed by 3 pips and reversed on me. Hoping the BRN can help me out. And yes, I do see the PPZ to the left (didn't stick out as much when I placed the trade as it does now).
Hi Spookie,

I thought I was the only one taking this trade, as I didn't see much discussion about it here.

What I liked about this trade were:
1) the PB was at a clear swing high
2) there "seemed" to be more space to the left as it's at a swing high
3) it showed clear rejection from 0.9550 which I marked as a daily PPZ, and also 0.9500 which is a BRN


What worried me the most were:
1) its small size relative to the upmove
=> but then I talked myself in, none of the green bars in this upmove was as big as the prior red bars down, still it managed to go up
2) no clear fib rejection from whatever levels.

I did notice the PPZ at 0.9450 and my entry was below it, so you see this left me almost no room to set to BE when it reversed....

Having seen yesterday's bar formed as a bullish PB, I moved my stop above it (as if I am taking it, but instead of putting the buy there, I put the stop there), so now the PB triggered, I was stopped out for a loss...

So I know I made a wrong entry, but I hope I did the right thing to minimize the loss.

Any seniors, pls feel free to comment on the setup or how you would manage this trade? Many thanks.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #92,728
  • Mar 31, 2011 9:18pm Mar 31, 2011 9:18pm
EUR/CHF arriving at an interesting area, if we keep it simple.

Now we just wait for PA to show us where price really wants to go.
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  • #92,729
  • Mar 31, 2011 9:47pm Mar 31, 2011 9:47pm
Quoting six gun
This is for Jarroo.

I see you were interested in Master Candles in the past. This is not J16 but it is J16 as it is inside bars described in another way.

Do you still use them and did you find them successful?
Hey six gun.

I look at them occasionally. They can be a nice little consolidation setup when they form right. I tend to go for more of build of consolidation which appears more so on the higher time frames. The stronger the build, the strong the level.

Here's a nice one on the Weekly Eur/Gbp, which could be form fitted on the Hourly.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,730
  • Mar 31, 2011 10:27pm Mar 31, 2011 10:27pm
aig has been beaten severly in the last weeks.
i would consider a short by the break of the 35 usd.
it is against the main trend at the stock market, so limit your risk.
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meine augen sind die sterne
  • #92,731
  • Mar 31, 2011 10:31pm Mar 31, 2011 10:31pm
dell with 50% fib, trendline, s/r and minor rn 14.50 usd.
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meine augen sind die sterne
  • #92,732
  • Mar 31, 2011 10:37pm Mar 31, 2011 10:37pm
Quoting Greenhaze
There was really good opportunity to enter the EurCad long yesterday. Price was at the daily/weekly flip zone area. What James16 is doing, is looking for a better entries at this kind of areas which can be found on lower timeframes sometimes. In this example price is making h1 pb and buob after the breakout which is very good signal for entry. H1 tf in opposition to H4 has always the same bar shape across every broker hence everybody are looking at the same thing....Thats something to think about....

Trading into that 1.37 would be my only concern. That's a strong Weekly/Daily PPZ level which your line chart shows so clearly.

The Hourly PA also had Support from a few previous Daily Highest Close of Resisitance, mainly the 1.3650. Price was making a bee line to the 1.3600 but fell short. . .again your line chart shows this clearly.

Good example of Space on that Daily PB . . .no surprise why it stopped where it did . .it just ran out of Space . .what little it had . . .Thanks Mike.


Great charts GH ..


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #92,733
  • Mar 31, 2011 11:09pm Mar 31, 2011 11:09pm
Quoting Greenhaze
It looks like its time to evacuate and maybe reverse the position. This support has been sloshed(does this word even exist lol?) back and forth and i guess it lost its significance as a support. BTW AU had 11th day with higher close but pinbarish today. Wake up Dollar!!

Yeah I got out below the 1.6100, it just couldn't hold. Seeing what deveolps now . .although its getting kind of messy. Waiting mode.
Indicators show the past. Price Action "Indicates" the future.
  • #92,734
  • Mar 31, 2011 11:39pm Mar 31, 2011 11:39pm
Quoting six gun
I would be very careful with the monthly JPY bars.
We had the tusnami this month and this really distorted the JPY pairs.

This bar looks like it is tsunami driven.
You have to take into account the 18 mar boj/ecb intervention which this time succeded and i can only believe that boj want to see price above the 80 level. Nothing happens without a reason. EJ and UJ are showing actual market sentiment with strong risk appetite where the interest rates direction is getting really clear. If BOJ will continue intervene in the market with help of ECB we will see continuation of this move. Read about Boj/Fed intervention after the 1995 earthquake which happened at the yearly bottom.
  • #92,735
  • Mar 31, 2011 11:43pm Mar 31, 2011 11:43pm
Quoting jarroo
Yeah I got out below the 1.6100, it just couldn't hold. Seeing what deveolps now . .although its getting kind of messy. Waiting mode.
I am also sitting on my hands. Hope to see some clear pa around Non-farms today.
  • #92,736
  • Apr 1, 2011 12:19am Apr 1, 2011 12:19am
Quoting Greenhaze
I am also sitting on my hands. Hope to see some clear pa around Non-farms today.

can you pls share what and what you will be looking at and will it be on only EU?
  • #92,737
  • Apr 1, 2011 12:30am Apr 1, 2011 12:30am
Quoting spookie94
Could you talk him into placing it in the guest videos for us poor people
I second that
  • #92,738
  • Apr 1, 2011 12:37am Apr 1, 2011 12:37am
Quoting Pinbar
EUR/CHF arriving at an interesting area, if we keep it simple.

Now we just wait for PA to show us where price really wants to go.
I'm waiting to see eurchf at 1.32.
Nothing personal,just business
  • #92,739
  • Apr 1, 2011 12:46am Apr 1, 2011 12:46am
Quoting brighty3k
can you pls share what and what you will be looking at and will it be on only EU?

To be honest i have no simple answer for that question. Right now i am concentrated on GU and 1.6020 level. Imo this level keeps the key to 1.5980 support and i hope to see price busting thru the 1.5980 on Non-farms... This are my assumptions only but it comes to one simple conclusion: Plan your trade and trade your plan....
  • #92,740
  • Apr 1, 2011 1:13am Apr 1, 2011 1:13am
Quoting Reset_JL
Ifmyante, here's the situation for me and chart you asked for.

I need to work on some guidelines as how to do this better. Is there any advice on this in this thread or on the PF?


Thanks for the interest.

The market was definitely looking bullish. The Bullish bars were long, three times the length of the bearish RT bars (this is something very important which has only sunk in with me lately. But it is VERY important).

I'm sure you can see some good entries without my help, but here are some ideas.

Well done on bringing it to a new MHC. I'm very happy for you
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