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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

  • #93,461
  • Apr 12, 2011 3:28am Apr 12, 2011 3:28am
I've got a sell limit in EUR/CHF at 1.3067
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  • #93,462
  • Edited 4:23am Apr 12, 2011 3:38am | Edited 4:23am
Hey guys

What do you think of the GU? Price bounced off this purple trendline and the previous highs are also very close.
The 2 prior candles look like pinbars but I think they dont qualify as A+ pinbars.
What do you think?

I had a sell at 1.63057 below the last candles lows that was triggered.

http://www.forexfactory.com/attachme...1&d=1302597497
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  • #93,463
  • Apr 12, 2011 3:48am Apr 12, 2011 3:48am
Quoting the_wizard
I've got a sell limit in EUR/CHF at 1.3067

What are your targets given we've just come off previous resistance and BRN?
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  • #93,464
  • Apr 12, 2011 5:43am Apr 12, 2011 5:43am
Quoting atemiwaza
Hi folks I took this trade last night...
Am I looking at this in a good or wrong way?
I'm not sure if its a pinbar...I was thinking of it as a BEOVB...
...
Hello Atemi,
that is not a PB or BEOB. please review the PA setups.
surely u got out early, but at least u know u had an achievable target area.

read.. practice more... & keep posting!
  • #93,465
  • Apr 12, 2011 5:50am Apr 12, 2011 5:50am
Quoting madboy
This pair is preparing to dive,let's watch...
Swissy doesn't know how to swim and I think it's gonna hit the bottom.
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  • #93,466
  • Apr 12, 2011 6:04am Apr 12, 2011 6:04am
Quoting Miko1
...
What do you think of the GU? Price bounced off this purple trendline and the previous highs are also very close.
The 2 prior candles look like pinbars but I think they dont qualify as A+ pinbars.
What do you think?
I had a sell at 1.63057 below the last candles lows that was triggered.
hello Miko1,
yes, not A+ setup, IMHO.
they are pinbars to me, but not the best looking.
what is your target?
my bias for gbp$ is range/slightly up*.
i hope u had profits banked or at least u must have a protected trade (SL @ BE, or BE + x pips)..
having said that, i wont be surprised if we see 1.60 anytime soon (1.60 is my near-term "line in the sand"*).

just my view
  • #93,467
  • Apr 12, 2011 6:15am Apr 12, 2011 6:15am
Quoting Pinbar
The GBP/CHF PB I pointed out hit its FTA.

Just trying to work this out with Jarroo's thing.
Hopefully he will correct my mistakes on this as I want to get this down.
I like this one Pin Bar... I don't know how is slipped my radar
  • #93,468
  • Apr 12, 2011 6:17am Apr 12, 2011 6:17am
hey supremeChaos,

thanks for your thoughts.
I agree with you with the upward sloping range but as we hit the upper trendline of the range (purple line) I thought the pinbars give a good signal.

I pulled the SL to break even and closed 1/3 at the 38,2 fib.
Looking for 50fib as next traget as this clusters with some previous PPZ from past.

http://www.forexfactory.com/attachme...1&d=1302607039
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  • #93,469
  • Apr 12, 2011 6:35am Apr 12, 2011 6:35am
Quoting 5.25
I like this one Pin Bar... I don't know how is slipped my radar
It was a bit tight as Mike pointed out.
  • #93,470
  • Apr 12, 2011 6:38am Apr 12, 2011 6:38am
Another one for review:

I sold the break of this double high PB on the gbpusd 4h chart (in green).

Question: Would you say that this is a PB by proxy?

I was aware of the traffic to the left which made me a little cautious. But once it did break, it hasn't looked back.

I'm now waiting to see what bar formation we get at the 1.62650... will it still hold as resistance?
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  • #93,471
  • Edited 7:12am Apr 12, 2011 6:39am | Edited 7:12am
Quoting supremeChaos
Hello Atemi,
that is not a PB or BEOB. please review the PA setups.
surely u got out early, but at least u know u had an achievable target area.

read.. practice more... & keep posting!

Maybe this will help a little.

If anyone thinks it will be useful, I can put it in the J16 terminology section.

The horizontal black line is just the entry point.

Made this when I first started learning the J16 system, printed it out and took it with me everywhere I went, pulling it out and memorizing the bars whenever I got the chance.
It served its purpose well.
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  • #93,472
  • Apr 12, 2011 6:40am Apr 12, 2011 6:40am
Quoting Sgrb1
What are your targets given we've just come off previous resistance and BRN?
1.2884 is the ultimate target.
  • #93,473
  • Apr 12, 2011 7:01am Apr 12, 2011 7:01am
Quoting supremeChaos
Hello Atemi,
that is not a PB or BEOB. please review the PA setups.
surely u got out early, but at least u know u had an achievable target area.

read.. practice more... & keep posting!
Thanks Supreme, I think i've got confused. So the BEOVB has to encompass the WHOLE previous bar? I had it in my mind that it only had to encompass the prior bars body not the high and low.

Thanks for the comment and encouragement
  • #93,474
  • Apr 12, 2011 7:06am Apr 12, 2011 7:06am
Quoting Pinbar
Maybe this will help a little.

If anyone thinks it will be useful, I can put it in the J16 terminology section.

The horizontal black line is just the entry point.

Made this when I first started learning the J16 system, printed it out and took it with me everywhere I went, pulling it out and memorizing the bars whenever I got the chance.
It served its purpose well.
Hey thanks Pinbar, I replied to Supremechaos before i noticed your post...
you can be sure i've already printed it out already for daily reading. I find attaching things like this to the fridge/common house areas it really help with letting things like this soak in. (if only i could print it really small and affix to the insides of my eyelids). - the entry points are very helpfull to me too.

Cheers,
Atemi
  • #93,475
  • Apr 12, 2011 7:13am Apr 12, 2011 7:13am
Quoting atemiwaza
Hey thanks Pinbar, I replied to Supremechaos before i noticed your post...
you can be sure i've already printed it out already for daily reading. I find attaching things like this to the fridge/common house areas it really help with letting things like this soak in. (if only i could print it really small and affix to the insides of my eyelids). - the entry points are very helpfull to me too.

Cheers,
Atemi

Glad you think it will be of use.
  • #93,476
  • Apr 12, 2011 7:17am Apr 12, 2011 7:17am
Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back ( often used to denote the first time back to an EMA)
RT= retest
WIPG= Where is price going
(This is an exercise designed by J16, in working out where the initial push of any given PA setup is likely to stall at, before it even breaks. In other words the FTA)
WDPG= Where did price go ( This is the conclusion of WIPG)

Jarroo's New Terminology
--------------------------------------------------
PBT&CA= price breaks through & closes above
PBT&CB= price breaks through & closes below

LCS= lowest close of support
HCR=highest close of resistance
-------------------------------------------------

Price Action Setups
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  • #93,477
  • Apr 12, 2011 7:28am Apr 12, 2011 7:28am
hi guys,
if this closes red is this a good set up for short?
it has the RN, 365, to hold it down and the visit above was short lasted.
anyway a decision for me will be taken after the close,.
thanks
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  • #93,478
  • Apr 12, 2011 7:42am Apr 12, 2011 7:42am
Quoting the_wizard
I've got a sell limit in EUR/CHF at 1.3067
Hey Tom,

may I ask you where your initial stop will be in this particular case?
Just above 1.3084? Or maybe just above 1.3100?

Thanks, Regards
kpt
  • #93,479
  • Apr 12, 2011 7:45am Apr 12, 2011 7:45am
Quoting rafael
hi guys,
if this closes red is this a good set up for short?
it has the RN, 365, to hold it down and the visit above was short lasted.
anyway a decision for me will be taken after the close,.
thanks
This is not a strong setup for me Rafael, the market is moving sideways and the Pinbar isn't very convincing. You also want your PB's to be at a swing high and swing low. Location plays a large part for a successful trade too.

My decision would be to pass.

Refer to 'Pinbar's' post above, he's handed out us all a cheat sheet. Thanks PB.

Hope this helps.
  • #93,480
  • Apr 12, 2011 7:57am Apr 12, 2011 7:57am
Hi Pinbar

Thanks for posting this chart.

Can I just ask about your black line entry points.

I notice you dont enter on any of the chart examples right on the break of the PA bar and wait to enter a bit. Do you have a set no of pips etc that you wait before your entry after the PA bar breaks ?, or do you judge it trade by trade?

Thanks again
Malarky



Quoting Pinbar
Maybe this will help a little.

If anyone thinks it will be useful, I can put it in the J16 terminology section.

The horizontal black line is just the entry point.

Made this when I first started learning the J16 system, printed it out and took it with me everywhere I went, pulling it out and memorizing the bars whenever I got the chance.
It served its purpose well.
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