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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

  • #99,301
  • Jul 26, 2011 2:19pm Jul 26, 2011 2:19pm
Quoting vinayn
Hey guys,
A possible short trade on CHFJPY Daily. Nice bearish pin bar, okish space (would have liked more), If it closes something like this, could be a good short. FTA is around 50 pips away so can move stop to BE there & wait for reaching next trouble area. What you guys think?

Thanks,
Vinay
IF THIS CLOSES AS IT LOOKS then

small PB against the "Killer Uptrend"

now we have confluences like: Divergence,Triple Top(97.67)

bt this is one of the setup James play..small/weak setups but considering the "totality of confluences",he takes it..once it reaches FTA(96.5) he takes half of the profit n keep at BE to avoid a loss on this one as its a weak setup..n wait for a strong pip-runner
Personally i wuld skip it as it dont fit my trading criteria as of now..also it wuld require baby sitting..
hope im right with this one..
Mike/Ghous shall correct me
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  • #99,302
  • Jul 26, 2011 2:27pm Jul 26, 2011 2:27pm
Quoting AvanishDemo
IF THIS CLOSES AS IT LOOKS then

small PB against the "Killer Uptrend"

now we have confluences like: Divergence,Triple Top(97.67)

bt this is one of the setup James play..small/weak setups but considering the "totality of confluences",he takes it..once it reaches FTA(96.5) he takes half of the profit n keep at BE to avoid a loss on this one as its a weak setup..n wait for a strong pip-runner
Personally i wuld skip it as it dont fit my trading criteria as of now..also it wuld require baby sitting..
hope im right with this one..
Mike/Ghous...
Hey Avanish,
Thanks for reply.
A question though- When you say small PB do you refer to the height of the pin? or is it something to do with open & close very near to each other? I may sound stupid asking this. But as far as height is concerned, I think it is good enough pin. Isn't it?
  • #99,303
  • Jul 26, 2011 2:29pm Jul 26, 2011 2:29pm
eur/usd looking very bullish now (if it closes above 1.4500).
break of trendline and rn. strong bullish bar.
next resistance: 1.4580 and then 1.4700.
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meine augen sind die sterne
  • #99,304
  • Edited Jul 27, 2011 9:57am Jul 26, 2011 3:00pm | Edited Jul 27, 2011 9:57am
Quoting vinayn
Hey Avanish,
Thanks for reply.
A question though- When you say small PB do you refer to the height of the pin? or is it something to do with open & close very near to each other? I may sound stupid asking this. But as far as height is concerned, I think it is good enough pin. Isn't it?
Nothin Stupid..Alls cool here in this thread..

yes small PB bcos of the height..that is the "nose" of PB im speaking abt..had it been good strong looking Pin "given its huge uptrend"..it wld hv been better..

but again i wld hv still skipped it..i guess..
that wld be js me..
depends upon the situation n experience person can hav a trade plan if to skip a setup or no..

sometimes there are setups wch doesnt hit our FTA properly n rolls against our favor..it happens
js my 2pips..
  • #99,305
  • Jul 26, 2011 3:08pm Jul 26, 2011 3:08pm
AUD has been a runaway train this week. Just took a PBT&CA on AUD/JPY 4H
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Anything can happen.
  • #99,306
  • Jul 26, 2011 3:13pm Jul 26, 2011 3:13pm
Quoting ddinnov
AUD has been a runaway train this week. Just took a PBT&CA on AUD/JPY 4H
Maybe a stupid question but what is CA?
/Johan
  • #99,307
  • Jul 26, 2011 3:19pm Jul 26, 2011 3:19pm
Quoting kojak
Maybe a stupid question but what is CA?
/Johan
"closes above"

I make the PPZ here about 85.30ish

*EDIT* 85.25 looks like the HCR (highest close of resistance)
Anything can happen.
  • #99,308
  • Edited 6:37pm Jul 26, 2011 3:51pm | Edited 6:37pm
Quoting kojak
Maybe a stupid question but what is CA?
/Johan
PBT = price breaks through
CA = Closes above
CB = Closes below

HCR = Highest close resistance

LCS = Lowest close support


These are all things that pertain not only to the J16 method as much as Jarroo's awesome trading method. It is more of a breakout style of setup. You will see the above as some of the more important acronyms.

Ryan
  • #99,309
  • Jul 26, 2011 4:03pm Jul 26, 2011 4:03pm
Quoting vinayn
Hey guys,
A possible short trade on CHFJPY Daily. Nice bearish pin bar, okish space (would have liked more), If it closes something like this, could be a good short. FTA is around 50 pips away so can move stop to BE there & wait for reaching next trouble area. What you guys think?

Thanks,
Vinay
A few big things that jump out at me on trades like this:

1) Avanish already mentioned the bar size
2) It is off of some resistance, but it is not really off of any BRN which would (to me) give the resistance MUCH more weight.
3) No BRN resistance and the run up make this a lower probability trade to me
4) On bearish trades (especially like this) I want to see a lower close than open to show some weakness with the chart. This is quite important to me.
5) I would see this as a box trade. It is rangeing inside of a box and this would easily define my profit taking strategy if I did enter this trade.

Best of luck on it no matter how you play it,
Ryan

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  • #99,310
  • Edited 4:38pm Jul 26, 2011 4:15pm | Edited 4:38pm
Quoting vinayn
Hey guys,
A possible short trade on CHFJPY Daily. Nice bearish pin bar, okish space (would have liked more), If it closes something like this, could be a good short. FTA is around 50 pips away so can move stop to BE there & wait for reaching next trouble area. What you guys think?

Thanks,
Vinay
yeah, the gift that keeps on giving... 15% of last month is from shorting this pair. Safest pair to short when chf gaps higher on sunday openings(but least volatile too).

from memory - intermediate levels to 96.5 were around 97.18 - 25, 96.68-75.

and bar BoJ intervention, fundamentals are with the trade. Case *hit hits the fan, money will start moving for real and probably the japanese will start withdrawing much of their carry trades, while chf is already a bubble. However intervention can also take place in form of printing press(for, say... "reconstruction"), so beware.

Anyway, already in since 97.6. I'll start to consider an exit if it reaches 98.5. That being said, I'm pretty biased(so take that into acct. too) on this pair which ultimately ain't very good, but meh...

Quoting gungriffin
5) I would see this as a box trade. It is rangeing inside of a box and this would easily define my profit taking strategy if I did enter this trade.
fully agree - I plan 96.5 and 95.8 as targets
  • #99,311
  • Jul 26, 2011 4:30pm Jul 26, 2011 4:30pm
Quoting gungriffin
PBT = price breaks through
CA = Closes above
CB = Closes below

HCR = Highest Close of Resistance

LCS = Lowsest Close of Support.


These are all things that pertain not only to the J16 method as much as Jarroo's awesome trading method. It is more of a breakout style of setup. You will see the above as some of the more important acronyms.

Ryan
Thanks Ryan . .just a bit of a correction here . .

HCR = Highest Close of Resistance

LCS = Lowsest Close of Support.
Indicators show the past. Price Action "Indicates" the future.
  • #99,312
  • Jul 26, 2011 5:07pm Jul 26, 2011 5:07pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Hi every body. This is my first post after one year of FF membership. I have to thank James16 and Mike and all the other seniors and members for the great effort they exert in this thread. I learned alot and am sure will learn more. I will try to post more, but I feal that I do not have anything that can be of value. However, I am determined to reverse the situation as soon as possible. I think I need another year or two.

My stage of development:
* Two and half years since I started my trading endeavour
* Full time learner of James16 - and nothing else since July-2010
* Small live account (it is my demo, and still losing every month)
* Still have problems with "patience" and "discipline", and determined to
keep working on it no matter what
* Strongly feel that I have progressed since I started in terms of attitude
and perspective towards price and markets.

Dear James, thank you... and get well
atom
  • #99,313
  • Jul 26, 2011 6:11pm Jul 26, 2011 6:11pm
Quoting Atom
Hi every body. This is my first post after one year of FF membership. I have to thank James16 and Mike and all the other seniors and members for the great effort they exert in this thread. I learned alot and am sure will learn more. I will try to post more, but I feal that I do not have anything that can be of value. However, I am determined to reverse the situation as soon as possible. I think I need another year or two.

My stage of development:
* Two and half years since I started my trading endeavour
* Full time learner of James16 - and...
Welcome Atom, glad to have you posting and keep at it!

Mike
  • #99,314
  • Jul 26, 2011 6:38pm Jul 26, 2011 6:38pm
Quoting jarroo
Thanks Ryan . .just a bit of a correction here . .

HCR = Highest Close of Resistance

LCS = Lowsest Close of Support.
Whoops. Been a long day and was not thinking correctly. Fixed it on my previous post to reflect how it should be.

Ryan
  • #99,315
  • Jul 26, 2011 6:41pm Jul 26, 2011 6:41pm
Quoting gungriffin
Whoops. Been a long day and was not thinking correctly. Fixed it on my previous post to reflect how it should be.

Ryan
No problem, Ryan . .
Indicators show the past. Price Action "Indicates" the future.
  • #99,316
  • Jul 26, 2011 6:53pm Jul 26, 2011 6:53pm
HEY! ! !
New Posts = 2 Pages @ 40/Page
Farging ICCE Holes.

Man I'm feeling older.

Goin' back to read & catch up.

LOL
B
  • #99,317
  • Jul 26, 2011 6:58pm Jul 26, 2011 6:58pm
Quoting aserbfx
eur/usd looking very bullish now (if it closes above 1.4500).
break of trendline and rn. strong bullish bar.
next resistance: 1.4580 and then 1.4700.
CAUTION.
Aserb, You know how I feel about you. Watch yourself on this one.
This Trade is a Stop Based Trade if you want to put it in the Black.

B
  • #99,318
  • Jul 26, 2011 7:02pm Jul 26, 2011 7:02pm
Quoting ghous
...
POKE.
Just 'cause I felt like it.
Nice job well done..
Seat at My table Anytime.

Not condescending. just a fact.

B
  • #99,319
  • Jul 26, 2011 7:20pm Jul 26, 2011 7:20pm
Quoting jarroo
Hey 5.25 looks like the 40.00 (40.05 to be exact) is now a Support level from its previous Resisatance level . .Why? . . because PBT&CA. . .

I believe the SFP worked great, as expected . .all be it breifly to its newly formed Support level. . .Thanks Tom.


More closes above those Highs would be nice . .

Jim
Hey Jim, I know you have a Huge & Well Deserved Audience.Delete this from your Thread if you wish & I will hold no malice.

My Point.
I see Charts posted by Readers in your thread that are, somewhat wishy washy with Some Potential & questions like "Now?"

Seriously. at Almost 60 Years old & having Traded Real for over half of that lifetime, I really want to push an Old Idea.

To your Students
Trade Without Stress.
It IS possible.
It might require a little more allotment to study time but , let me assure you, you will not regret it.
I'm not talking about the Stress of being Out of The Market. (I have to find a Trade)
I'm talking about being IN the Market & wher you currently sit on a particular Trade.
& guess what? That was decided when you pulled the Trigger.
Quit Jumpin' The Market & let it be your Friend.

B
  • #99,320
  • Jul 26, 2011 7:53pm Jul 26, 2011 7:53pm
Quoting Bemac
Hey Jim, I know you have a Huge & Well Deserved Audience.Delete this from your Thread if you wish & I will hold no malice.

My Point.
I see Charts posted by Readers in your thread that are, somewhat wishy washy with Some Potential & questions like "Now?"

Seriously. at Almost 60 Years old & having Traded Real for over half of that lifetime, I really want to push an Old Idea.

To your Students
Trade Without Stress.
It IS possible.
It might require a little more allotment to study time but , let me assure you, you will not regret it.
I'm not...
No worries B . .my last webinar I did a detailed discussion of Silver and PBT&CAor B . . .HCR/LCS.

I plan on doing a more basic video series of S/R . .I probably should have started with that first and foremost.

I like that old idea . .know your target and know your S/L before you hit enter.

Thanks B.

Jim
Indicators show the past. Price Action "Indicates" the future.
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