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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

  • #98,081
  • Jul 8, 2011 8:20pm Jul 8, 2011 8:20pm
Took me out big time at BE but, at least I made most of the previous loss back.

This is a lesson for me in not anticipating a break of PA.
It isn't a setup till it breaks.
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  • #98,082
  • Jul 8, 2011 8:51pm Jul 8, 2011 8:51pm
a/u
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  • #98,083
  • Jul 8, 2011 10:45pm Jul 8, 2011 10:45pm
Well, this one looks good to me. TP is 80.
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  • #98,084
  • Jul 9, 2011 1:58am Jul 9, 2011 1:58am
Quoting aserbfx
entry triggered. 29.80 euro on average. currently about 30.30 euro.
market was quite because of the closed us-markets.
jun3 is still looking good. had a positive day yesterday despite of the falling market. a rise above ~30.80 eur would be great.
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meine augen sind die sterne
  • #98,085
  • Edited 3:01am Jul 9, 2011 2:41am | Edited 3:01am
E/J BEOB breaking important level of support full of confluences. Watching retracement back to previous support to see if turned resistance.
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  • #98,086
  • Jul 9, 2011 4:45am Jul 9, 2011 4:45am
italian sts on weekly. seems like the wedge is going to break southwards. making lower highs in the last months. a fall below 7.40 euro would be the trigger. engulfing bearish bar on the weekly, too.
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meine augen sind die sterne
  • #98,087
  • Jul 9, 2011 6:59am Jul 9, 2011 6:59am
Hey guys,
My first post here. Its a great learning place. Here is my first chart. Hope that it will work.
EUR/GBP BEOB- confluence of fib ret of 61.8% & RN 0.8850. Plan to go short at 0.8850. FTA would be around 0.8770-50ish.
What you guys think?
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  • #98,088
  • Edited 11:25am Jul 9, 2011 10:23am | Edited 11:25am
Quoting vinayn
Hey guys,
My first post here. Its a great learning place. Here is my first chart. Hope that it will work.
EUR/GBP BEOB- confluence of fib ret of 61.8% & RN 0.8850. Plan to go short at 0.8850. FTA would be around 0.8770-50ish.
What you guys think?
Hey vinayn, I am cautious of a short here. The 61 fib and close above the 8850 kinda supports a retracement back higher IMO. If you played the BEOB short it would be more of a continuation play since its in the middle of a bearish move. The 8850 is a ppz so I'd be cautious putting an order right there hoping that support becomes resistance. Hope that makes sense. If I played this as a continuation short i would have wanted to see a close below 8850.

Edit: On the weekly I see a two week pin bar. If I were shorting this pair I would do it from the weekly, but I am still not really lovin it.
  • #98,089
  • Edited 11:43am Jul 9, 2011 10:31am | Edited 11:43am
Quoting vinayn
Hey guys,
My first post here. Its a great learning place. Here is my first chart. Hope that it will work.
EUR/GBP BEOB- confluence of fib ret of 61.8% & RN 0.8850. Plan to go short at 0.8850. FTA would be around 0.8770-50ish.
What you guys think?
Hi Vinay,
nice to see another indian here..
my thoughts on chart...
BEOB not at Swing High..now some people take contniuation BEOBs as well but i only consider/learn them if its taken by a good/experienced trader..it gives mre of idea as to why he took dat setup..
basically,we all are suppose to follow BEOBs at swing highs,BUOB at swing low n retracement areas..
they are good place to start as Mike says..
now this BEOB can be risky as its facing the PPZ..u can see how price bars have acted as Support and Resistance from time-to-time..(marked by arrows)
EDIT: plus the 61.8 Ret which u have marked is valid for Bullish setups n not for Bearish Setups IMO..
if this helps.
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  • #98,090
  • Jul 9, 2011 10:53am Jul 9, 2011 10:53am
Quoting biDc
a/u
You can watch how these break. Especially to the upside. If that resistance you have marked(at the high of the IB) can hold as support they will usually make it up higher towards that previous swing high. If you notice that inside bar closed above the 1.0700 area. Another good sign this is wanting to get a test higher.

Best
Mike
  • #98,091
  • Jul 9, 2011 10:57am Jul 9, 2011 10:57am
Quoting CavinK
How about this A/J weekly BUOB?

it does not have big space but should be a pull back of Mar Pin bar, align with the uptrend and seated at BRN and Fib 61.8.

Can anyone share the idea?
Hey C

I got your email, here is a chart for you

Best
Mike
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  • #98,092
  • Jul 9, 2011 11:54am Jul 9, 2011 11:54am
Quoting mbqb11
You can watch how these break. Especially to the upside. If that resistance you have marked(at the high of the IB) can hold as support they will usually make it up higher towards that previous swing high. If you notice that inside bar closed above the 1.0700 area. Another good sign this is wanting to get a test higher.

Best
Mike
No I did not catch that. Nice thanks!
  • #98,093
  • Jul 9, 2011 12:07pm Jul 9, 2011 12:07pm
Hey mike, on the A/J daily what do you think of this?
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  • #98,094
  • Jul 9, 2011 12:20pm Jul 9, 2011 12:20pm
Quoting biDc
Hey mike, on the A/J daily what do you think of this?
negative. because in a sideways market. no swing. and coming into a support-area and around 86.20.
note that the fibs are for a retracement of the current move. the 61.8 you mentioned is the fib for the uptrend since april 2011 (pic1). there the pair found resistance and retraced. it is not valid for a pullback of the shorter downtrend.
for the current move (here this week) take a look at the second pic. you can enter here at the 50, 61.8, up to you.
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meine augen sind die sterne
  • #98,095
  • Jul 9, 2011 12:24pm Jul 9, 2011 12:24pm
Quoting aserbfx
negative. because in a sideways market. no swing. and coming into a support-area and around 86.20.
note that the fibs are for a retracement of the current move. the 61.8 you mentioned is the fib for the uptrend since april 2011 (pic1). there the pair found resistance and retraced. it is not valid for a pullback of the shorter downtrend.
for the current move (here this week) take a look at the second pic. you can enter here at the 50, 61.8, up to you.
Thanks for the explanation!
  • #98,096
  • Jul 9, 2011 12:35pm Jul 9, 2011 12:35pm
eur/gbp
beob. but coming in a nice support-zone with fib, minor rn and s/r.
will take a look for a long on h4 or d1 at around 0.8850.
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meine augen sind die sterne
  • #98,097
  • Jul 9, 2011 2:27pm Jul 9, 2011 2:27pm
weekly chart of birt. breakout of the rectangle. friday was good with a large bullish candle on rising volume and closing at dayhigh (buob, too).
stock was making lower lows before the breakout. overall trading volume is quite small, so use limit orders.
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meine augen sind die sterne
  • #98,098
  • Jul 9, 2011 3:45pm Jul 9, 2011 3:45pm
Confluences of FR + PPZ + BRN 96/96.5 + 150EMA. Touch trade possibility?
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  • #98,099
  • Jul 9, 2011 7:33pm Jul 9, 2011 7:33pm
Quoting mbqb11
Hey C

I got your email, here is a chart for you

Best
Mike
Thank you Mike for your explanation.
----------------------------- Discipline makes the difference.
  • #98,100
  • Jul 10, 2011 3:39am Jul 10, 2011 3:39am
Hello All,

This is my first post ever so please bear with me.

Firstly I would just like to say how good this thread is and the quality of information that is provided is excellent, so many thanks for that as I am learning a great deal.

I have been demo trading the J16 method for about a month now (on daily only) and so far doing well as I have no losers (which is unbelievable), however at the same time I have had no real winners all BE or taking very partial position at first point of resistance.

For me though this is revolutionary as I have never before had any consistent success trading daily charts. Strangely enough I have been consistent day trading (mainly 15min chart) in periods when I have been out of work or in-between jobs.

Due to my current employment I now can only trade the daily charts or higher as I have no access to any trading tools during the main market hours.

Anyway on to my question:

I am looking to play a break of the PB @ approx 97.56 on CHFJPY and go to BE when price is at RN 97.00, however I have noticed on the weekly that there is a bearish PB followed by a bullish bar.

Please comment on the daily long setup considering the weekly PB.

Many thanks.

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