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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

  • #96,341
  • Jun 10, 2011 8:23am Jun 10, 2011 8:23am
No problem my friend - as someone aid recently the only dumb questions here are the ones we don't ask. I did not trade the H&S pattern on this one but it was s good a shaped pattern as you are likely to see so maybe I should have traded it!
  • #96,342
  • Jun 10, 2011 8:34am Jun 10, 2011 8:34am
Quoting Kalbar
Hey Pex

I was asking Jim the same question because there does not seem to be a PA bar to enter off! think he probably entered off a touch back to previous support but another entry could have been a break of the nice Head and shoulders pattern which formed on this one which is on chart I posted a few posts back.

kal

Hey Kal

Yes you are correct. Also can be called a retracement level. If you enter on a retracement you are essentially touch trading using the bar/surroundings/location story to support that touch trade

Best
Mike
  • #96,343
  • Jun 10, 2011 8:38am Jun 10, 2011 8:38am
Quoting mbqb11
I see a bit more trouble prior to that, but certainly one could play a box play off this with this in mind

Best
Mike
updated chart. see the middle acting as a pivot again. These are good for quick take profits in my book as the likelihood for a bounce back to your entry is very high

Best
Mike
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  • #96,344
  • Jun 10, 2011 8:56am Jun 10, 2011 8:56am
Quoting mbqb11
updated chart. see the middle acting as a pivot again. These are good for quick take profits in my book as the likelihood for a bounce back to your entry is very high

Best
Mike
Mike

You are a genius!! Your script is EXACTLY what happened to me!!Took this one (not an A+ setup I know) and got into a decent profit situation(70 odd pips) so moved to BE and it then it bounced back and whipped me out at BE! Must remember to take some profit in future. Only reason I took it was it was a nice pin o the daily. Must remember to be more nimble when managing these in future. Another lesson learned will they ever stop!!

Kal
  • #96,345
  • Edited 10:09am Jun 10, 2011 9:06am | Edited 10:09am
AUD/CAD, H1 chart, formed a BUOB at swing low, Could any senior kindly advise if it's a valid PA to enter long?
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----------------------------- Discipline makes the difference.
  • #96,346
  • Jun 10, 2011 10:50am Jun 10, 2011 10:50am
Quoting hipcio
I have been watching usd/cad and on weekly and daily can see a strong down trend with a pin on daily, if it breaks multisupport tl on h4 it might be a chance to follow down for at lest 50 pips so that I could raduce my SL at that time or even move to BE parhaps with the green line as the TP,

Peter
My usd/cad sell order has triggered and moved up as quickly that I even could not react,
I have made an obvious mistake of placing an order on the base of expectations,
I should have waited at least for a breaking bar to form, or better for the move down after confirmation breakout,

I have paid for that 2%

Peter
Jesus Christ is my only Lord !
  • #96,347
  • Jun 10, 2011 10:57am Jun 10, 2011 10:57am
Hey Peter

Dont worry too much about making a mistake bud, we all do it and some of us take time before things sink in. The main thing is to learn from it and then the mistake becomes worthwhile as you are learning from it.

kal
  • #96,348
  • Jun 10, 2011 11:02am Jun 10, 2011 11:02am
Quoting Kalbar
Hey Peter

Dont worry too much about making a mistake bud, we all do it an some of us take time before things sink in. The main thing is to learn from it and then the mistake becomes worthwhile as you are learning fro it.

kal
Thank You Kal,

for the support, I will not worry too much but just a litle I should !
Because I have entered the trade just out of analize but without any real signal,

as You say - I will try to remember it.


Peter
Jesus Christ is my only Lord !
  • #96,349
  • Edited 12:44pm Jun 10, 2011 11:51am | Edited 12:44pm
Hi guys, some great trading these last couple of days eh!!!
these are the setups i try and wait for. for me this is what this thread is all about.

eu/gb..strong BEOB at a swing high coming off a good PPZ and closing below RN . clear targets and divergence.
( in and out with full position at FTA)

eu/au..strong bar at a swing high retrace to the 50% fib level of the down trend and RN . also with divergence and a clear target. Not as strong a close as the eu/gb bar as it stalled at the PPZ i would have liked it to have closed below but all in all a nice story and a good bar.
(in and out with full position, would have kept some open if it wasnt friday)


jon
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PATIENCE... DISCIPLINE
  • #96,350
  • Jun 10, 2011 12:35pm Jun 10, 2011 12:35pm
........

eu/nz...strong BEOB with the trend after significant retrace and coming off good PPZ and closing below RN. with divergence on D1 and 4H, with space and a clear target.
(still holding 2/3rds. will keep this running)


eu/chf...strong 4H BEOB. this is not a J16 classic but a mix of the things i like to use.
the bar is in traffic and did not break quickly so not ideal but i liked the tight winding up of price before it broke and i liked that it was sat tight on my TL. Strong down trend was in my favour and the weak euro.
(closed 2/3rds and will keep this running as we are at all time lows and one bitch of a down trend)


jon
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PATIENCE... DISCIPLINE
  • #96,351
  • Jun 10, 2011 12:42pm Jun 10, 2011 12:42pm
1 i didnt take....

eu/us...4H H+S(one of the clearest we can hope to see) and the break lead to a nice 4H BEOB...the rest has been covered by the seniours.

what did i miss...lol
hope we all bagged a few pips on these.


jon
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PATIENCE... DISCIPLINE
  • #96,352
  • Jun 10, 2011 12:56pm Jun 10, 2011 12:56pm
Quoting Dan Gilbert
still in it, got a bit nervous last night but it dropped back down again
This is the longest I have held a trade this year, and I had another trade similar to this earlier this year. Holding positions like this for so long when you're in a free trade is pretty easy in my opinion, although a year ago I probably wouldn't have been able to imagine it lol. I would prefer if it miraculously hits the target before market close today, but if not, I'll still be waiting.
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Many choose unhappiness over uncertainty.
  • #96,353
  • Jun 10, 2011 1:59pm Jun 10, 2011 1:59pm
Quoting mrhb30jr
Hi hipcio,

any other reasons to entry Long for this currency coz only the breakout of the line

in my view there are 3 negative divergence for this NU
1. Monthly TF
2. Weekly TF
3. Daily TF

and on the 240 Hr TF State 3 IB's (inside one bar) look like reversal to be in progress...

Cheers

NU short entry on the reversal .......
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  • #96,354
  • Jun 10, 2011 2:20pm Jun 10, 2011 2:20pm
Quoting mrhb30jr
NU short entry on the reversal .......
Yes, mine will close in a moment

Have a nice weekend,

Peter
Jesus Christ is my only Lord !
  • #96,355
  • Jun 10, 2011 2:58pm Jun 10, 2011 2:58pm
Hi guys

Just to wish y'all a good weekend. What has been evident this week is that patience pays off if we wait for the good setups as per J16 methodology. All(!!) I have to do now is have the confidence to pull th trigger when I see the setups!! A work in progres as they say!

Good weekend guys,

Kal
  • #96,356
  • Jun 10, 2011 2:59pm Jun 10, 2011 2:59pm
amazing how those old head and shoulders often end up being a sign of a coming pivot zone. its an eyeball thing for me. i always look for confluence like laarge tounf numbers.

Quoting Kalbar
Hi Jim

Good to see you posting here. Just wanted to ask if you saw the head and shoulders pattern (nice round shape and neckline) on this chart and was that a viable entry or did you see the entry as a touch entry back at the previous support now becoming resistance? Only reason I ask is that I dont see a PA entry on this one.

Thanks

kal
  • #96,357
  • Jun 10, 2011 3:02pm Jun 10, 2011 3:02pm
i think its very interesting that it might close below 3600.



Quoting Aggro
wow, Sir James is here!
It's nice to see you here, especially your charts
Could you please tell us what are you thoughts on eur/aud daily beob.

thanks a lot and have fun!!
  • #96,358
  • Jun 10, 2011 3:12pm Jun 10, 2011 3:12pm
http://www.forexfactory.com/attachme...1&d=1307646933
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  • #96,359
  • Jun 10, 2011 3:19pm Jun 10, 2011 3:19pm
.......Not really, just always wanted to say that...
maybe a few years.

have a great weekend yawl..

jon
PATIENCE... DISCIPLINE
  • #96,360
  • Jun 10, 2011 3:21pm Jun 10, 2011 3:21pm
James,

What daily close did you use on this chart? (Sorry if it's been asked already)

Thanks,

Slade




Quoting james16
http://www.forexfactory.com/attachme...1&d=1307646933
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