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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

  • #98,121
  • Jul 10, 2011 7:09pm Jul 10, 2011 7:09pm
Quoting cprao
I am totally with you on 86.3. It may struggle here for a while until it trends down towards 85. I do have 85.30 a level to wach.. and 85 is final destination.
right, 85.3 was relevant two weeks ago - or three? I think so, I remember I kept short 1/3 85.05, another at .15 and another at .25 - it was .34 or .38 or something a previous high - don't have a chart nearby.

regarding 86.3 - I think a 1st test should be in 1h - they expect no less than a whooping 4.6% increase(after a 4.8% increase last month) - hmm...
  • #98,122
  • Jul 10, 2011 9:20pm Jul 10, 2011 9:20pm
Quoting snowly
right, 85.3 was relevant two weeks ago - or three? I think so, I remember I kept short 1/3 85.05, another at .15 and another at .25 - it was .34 or .38 or something a previous high - don't have a chart nearby.

regarding 86.3 - I think a 1st test should be in 1h - they expect no less than a whooping 4.6% increase(after a 4.8% increase last month) - hmm...
In fact, they are down - 4.4%.

Edit: I don't really watch news except Non-farm..
  • #98,123
  • Jul 10, 2011 11:10pm Jul 10, 2011 11:10pm
Quoting Gpfx
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.

[color=black][font=Verdana]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...

Sounds like you are on the right track.

Somebody pointed out that the bar is not at a SL.
It is great how helpful people are in this thread and I would like to add a little. If we look at the weekly TF on this pair, we can see a great deal of former support around this level. It may quickly revert to resistance as we have a PB type bar on the weekly TF. IMHO, when we see a possible setup, if we look at the higher TF, sometimes we can see conflicting PA.
The higher TF PA, will very often outweigh the lower tf setup.
On my live feed the open of the weekly PB is slightly outside the eye of the previous bar but, this may not be the case on another feed, also some people will look at this weekly PB at being at an extreme high and consider it valid by the proxy eye of the 4th bar back.

Hope this helps and welcome to the thread.
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  • #98,124
  • Jul 10, 2011 11:48pm Jul 10, 2011 11:48pm
Quoting Gpfx
Hello All,

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

...
Hey Gp... I don't have any constructive comments on "Your Post" other than to say...
Welcome. ! ! !


CHFJPY is not, usually, a Prime Target for me but if you found one...
You Run with it.
I looked it up & you are correct.
This is a Decision point. But Which way?
To me it looks like a Drop but only to ReLoad & then UP to a new High
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  • #98,125
  • Jul 10, 2011 11:49pm Jul 10, 2011 11:49pm
Hey guys, quick question. I just want to ask, for those of you that trade lower then the daily time frame, what for sleep schedule you are on? With me being on the east cost and trading GMT, my daily bars close at 8pm. Which is great, but Ive been trading 1hr/15min for the past two years and it has my sleep schedule messed up. Now it seems, short of moving, that having a poor/irregular sleep schedule its just part of the game of lower time frame trading, at least on the east cost. The problem is its starting to affect my rest and recovery for BMX racing so Im just trying to get some ideas on how to tailor my schedule to best fit the active trading sessions while still being able to wake at a decent time and not be a zombie.
  • #98,126
  • Edited 12:31am Jul 11, 2011 12:19am | Edited 12:31am
Quoting Bemac
Hey Gp... I don't have any constructive comments on "Your Post" other than to say...
Welcome. ! ! !


CHFJPY is not, usually, a Prime Target for me but if you found one...
You Run with it.
I looked it up & you are correct.
This is a Decision point. But Which way?
To me it looks like a Drop but only to ReLoad & then UP to a new High
Attachment

Bemac,

What is the drop then reload based on, the strong uptrend and TL?
Can't help but notice that diagonal BEE-line on your chart lining up with this area.
EDIT: I imagine these bar highs and lows have something to do with it.
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  • #98,127
  • Jul 11, 2011 1:05am Jul 11, 2011 1:05am
Quoting Pinbar
Sounds like you are on the right track.

Somebody pointed out that the bar is not at a SL.
It is great how helpful people are in this thread and I would like to add a little. If we look at the weekly TF on this pair, we can see a great deal of former support around this level. It may quickly revert to resistance as we have a PB type bar on the weekly TF. IMHO, when we see a possible setup, if we look at the higher TF, sometimes we can see conflicting PA.
The higher TF PA, will very often outweigh the lower tf setup.
On my live feed the...
I have a weekly PPZ drawn at that previous support as well. I quite like the H&S forming theory also.
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Anything can happen.
  • #98,128
  • Jul 11, 2011 4:28am Jul 11, 2011 4:28am
Quoting eswap0
Can someone give me a hand regarding J16manager use please?
I am having a strange behaviour every time I use this Expert Manager to close 50% and move to BE: this is done right, but the remaining position is 50% closed as well at a strange amount of pips, while I don't want it to be closed.
Please see attached chart I just traded on demo basis.
Thanks!
Hi eswap0,

I'm just wondering if you found a solution to this problem, because I have exactly the same one. If you have, can you please enlighten me with it?

Regards, polundra
  • #98,129
  • Jul 11, 2011 6:51am Jul 11, 2011 6:51am
Well, that's that!

Both failed on the weekly bueob despite textbook price action on eur/chf. Pinbar's stop loss (at support) should have held, but it didn't. There was no reason imo why this should have failed looking at pure price action.

We were set up for the killing. So many bueob's on so many pairs prior to last week - you could have taken your pick (e.g. AUD/USD, USD/CAD). What a joke.

I told you the markets didn't "feel" right last week, didn't I?

I lost money today, but if I'd followed this thread to the letter, I would have lost a lot more.

KR
  • #98,130
  • Jul 11, 2011 6:58am Jul 11, 2011 6:58am
Quoting Knight Rider
Well, that's that!

Both failed on the weekly bueob despite textbook price action on eur/chf. Pinbar's stop loss (at support) should have held, but it didn't. There was no reason imo why this should have failed looking at pure price action.

We were set up for the killing. So many bueob's on so many pairs prior to last week - you could have taken your pick (e.g. AUD/USD, USD/CAD). What a joke.

I told you the markets didn't "feel" right last week, didn't I?

I lost money today, but if I'd followed this thread to the letter, I would have lost...
Hi KR,

Can you post a chart please? There is no BUOB on weekly for EURCHF at all, especially textbook one.

AUD/CAD USD/CAD ???? Where is the setup there???

What are you trading man?
  • #98,131
  • Jul 11, 2011 6:59am Jul 11, 2011 6:59am
Quoting polundra
Hi eswap0,

I'm just wondering if you found a solution to this problem, because I have exactly the same one. If you have, can you please enlighten me with it?

Regards, polundra
Hi P,
My mistake was that I was switching from one profile to another while J16Manager was running.
Generally speaking, most scripts need the chart of the pair to be open in order to work properly.
Now I keep an MT4 session for charting and another one for trading, with just one profile permanently open.
Hope this helps,

jm
Trading: the skill of avoiding trades
  • #98,132
  • Jul 11, 2011 7:04am Jul 11, 2011 7:04am
Quoting Pinbar
Bemac,

What is the drop then reload based on, the strong uptrend and TL?
Can't help but notice that diagonal BEE-line on your chart lining up with this area.
EDIT: I imagine these bar highs and lows have something to do with it.
I wouldn't be surprised to see it pull back to 95.40 or so before attacking New High. {chart on Post #98146}

B
  • #98,133
  • Jul 11, 2011 7:05am Jul 11, 2011 7:05am
Will be waiting for a retracement...
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Trading: the skill of avoiding trades
  • #98,134
  • Jul 11, 2011 7:07am Jul 11, 2011 7:07am
Quoting Knight Rider
Well, that's that!

Both failed on the weekly bueob despite textbook price action on eur/chf. Pinbar's stop loss (at support) should have held, but it didn't. There was no reason imo why this should have failed looking at pure price action.

We were set up for the killing. So many bueob's on so many pairs prior to last week - you could have taken your pick (e.g. AUD/USD, USD/CAD). What a joke.

I told you the markets didn't "feel" right last week, didn't I?

I lost money today, but if I'd followed this thread to the letter, I would...
hi KR
lost money?
what about min 3 months demo?
  • #98,135
  • Jul 11, 2011 7:07am Jul 11, 2011 7:07am
Quoting Knight Rider
Well, that's that!
Both failed on the weekly bueob
I lost money today, but if I'd followed this thread to the letter, I would have lost a lot more...
i will reserve a more detailed post if u post your charts.
until then, there were eur$ & eurchf weekly charts posted here recently, if i remember correctly, but they never triggered on Oanda live (i think in other broker's too).
basics taught here is that u trade the break of the PA setups. if a PA setup doesnt break, there is NO trade.
if u try to be a hero & trade prior a PA setup break, it's your choice.
when i make mistakes, i dont blame a thread or anybody else. but why do u?

Quote
I told you the markets didn't "feel" right last week, didn't I?
if u told us that, then WHY didnt u follow your instinct?
u dont save face with that kind of remark.

& assuming the PA setups did get triggered but turned into a loss,
dont u know that no one said all PA setups work (well)?
dont u know that no one said u should take a full bar loss?
dont u know that losses are inevitable in this business, especially if YOU screw up??

Quoting Knight Rider
There was no reason imo why this should have failed looking at pure price action.
PA is just a representation of people trading it.
& what if your knowledge of PA trading is still limited? havent u thought of that?

look internally, & dont blame externally. control what u can --- YOURSELF.
if u cant control yourself or have no plans of controlling yourself, then u shouldnt be trading. Psychology is a big part of trading, IMHO.
Good luck
  • #98,136
  • Jul 11, 2011 7:14am Jul 11, 2011 7:14am
first target hit..
anyone short on this pair? can advise for second tp
i'm thinking 1.0650 is pretty good support, or should i just let it ride?


In general ,what do you do when price hits first target
when do you take all when you exit some of it
and when exiting the rest?
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  • #98,137
  • Jul 11, 2011 7:16am Jul 11, 2011 7:16am
This is not even technically a BUOB, and going right into the wall.
Why trade such a setup when even better ones sometimes fail?
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  • #98,138
  • Edited 7:33am Jul 11, 2011 7:23am | Edited 7:33am
Quoting Adilius07
This is not even technically a BUOB, and going right into the wall.
Why trade such a setup when even better ones sometimes fail?
even if it is a valid BUOB, it didnt trigger/break.
also, we are not taught to trade all PA setups; we are taught to look at the overall situation, not just the PA setup.
let's wait for his charts
  • #98,139
  • Jul 11, 2011 7:26am Jul 11, 2011 7:26am
Quoting supremeChaos
even if it is a valid BUOB, it didnt trigger/break.
also, we are not taught to trade all PA setups; we are taught to look at the overall situation, not just the PA setup.
let's wait for his charts
On my feed it triggered by 12 pips.
But situation/location is too scary for me yes.
  • #98,140
  • Jul 11, 2011 7:29am Jul 11, 2011 7:29am
[quote=Knight Rider;4768240]Well, that's that!

Both failed on the weekly bueob despite textbook price action on eur/chf. Pinbar's stop loss (at support) should have held, but it didn't. There was no reason imo why this should have failed looking at pure price action.

We were set up for the killing. So many bueob's on so many pairs prior to last week - you could have taken your pick (e.g. AUD/USD, USD/CAD). What a joke.

I told you the markets didn't "feel" right last week, didn't I?

I lost money today, but if I'd followed this thread to the letter, I would have lost a lot more.

Just to echo Supremechaos, i don't see the trigger.
On Eurchf, yes there was a bullish engulfing, on the weekly. If you'd set your entry past the high, i don't think it should have triggered.
If you drop down to the daily, it's clear.
Personally i had resistance above, and a long would be countertrend.
Then you get basically an evening star, getting you back into the downtrend.
friday gave another opportunity to enter, on the bearish engulfing, if you were so inclined.
Personally i didn't take it,due to potential support below, and R/R.
As it turns out, would have been a good trade, but thats trading. No one gets it right all the time.
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