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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

  • #101,381
  • Sep 8, 2011 10:09pm Sep 8, 2011 10:09pm
Gimme shelter.

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TRADE what you believe.

B
  • #101,382
  • Sep 9, 2011 12:42am Sep 9, 2011 12:42am


waiting for a setup on DAILY TF is the hardest part...

I wish there was a way... some simple method where I would "do something" every day at the certain time... then wait...then collect profits at the end of the month...

Anyone knows of anything like this?
  • #101,383
  • Sep 9, 2011 1:56am Sep 9, 2011 1:56am
@ Bemac

I am in that one too - just waiting for the 1.3085 to break then ill add

Anthony
  • #101,384
  • Sep 9, 2011 3:03am Sep 9, 2011 3:03am
Quoting Adilius07


waiting for a setup on DAILY TF is the hardest part...

I wish there was a way... some simple method where I would "do something" every day at the certain time... then wait...then collect profits at the end of the month...

Anyone knows of anything like this?

yeah..teach tuition.
  • #101,385
  • Sep 9, 2011 3:33am Sep 9, 2011 3:33am
anybody eyeing GBPCHF on 4 hr TF?


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engulfing.. will be taking the trade at the break.
  • #101,386
  • Sep 9, 2011 3:45am Sep 9, 2011 3:45am
Quoting fascist
anybody eyeing GBPCHF on 4 hr TF?

engulfing.. will be taking the trade at the break.
There's no story, unless it closes through 1.4..

Personally, any swiss pair feels like a bit of a gamble to me right now, especially on a Friday, and it's buying a continuation on a massive move upwards. We all know what they say about intervention... I'd rather let things settle a little.
  • #101,387
  • Sep 9, 2011 3:51am Sep 9, 2011 3:51am
Quoting Donkey
I play a little looser with stops than many, but think in this case it's worth watching the reaction at this area. I've got about half my initial risk off the table, so at this point I'm cool with "letting the market decide".
Very cool management so far man... As I've said before, I'm really trying to give my winners space and let them run as you have with this one, so it's good to see how others are managing things.

That's a nice strong weekly bar (if things close as they are), I may look to get back on board should 1.37 fall through.

All the best with this one, keep us posted
SG
  • #101,388
  • Sep 9, 2011 5:37am Sep 9, 2011 5:37am
Quoting Adilius07


waiting for a setup on DAILY TF is the hardest part...

I wish there was a way... some simple method where I would "do something" every day at the certain time... then wait...then collect profits at the end of the month...

Anyone knows of anything like this?
err... a job?
  • #101,389
  • Sep 9, 2011 6:38am Sep 9, 2011 6:38am
Quoting Sgrb1
Very cool management so far man... As I've said before, I'm really trying to give my winners space and let them run as you have with this one, so it's good to see how others are managing things.

That's a nice strong weekly bar (if things close as they are), I may look to get back on board should 1.37 fall through.

All the best with this one, keep us posted
SG
Management is the toughest part...this one rejected pretty strongly at 1.3700. I've reduced stop to 1.388. (about 75% of my initial risk off the table). This is where my stlye is a little shaky. I'm in the strong ppz and these often reverse here. I'll watch this one more closely through the day than normal since we're in a critical area, and it's a Friday.
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  • #101,390
  • Sep 9, 2011 7:23am Sep 9, 2011 7:23am
WTF

Workmen severe my fiber optic cable & the phone lines in this building, it doesn't get fixed for 4 days. I just get back on the net to find all these GIGANTIC moves.
  • #101,391
  • Sep 9, 2011 7:25am Sep 9, 2011 7:25am
Quoting snowly
err... a job?
Yeah,JOB, Just Over Broke.
I think he means just do something for 10 mins not eight hours a day. LOL

Try the vegas knife mechanical system.
  • #101,392
  • Edited 8:00am Sep 9, 2011 7:45am | Edited 8:00am
Quoting Pinbar
Yeah,JOB, Just Over Broke.
I think he means just do something for 10 mins not eight hours a day. LOL

Try the vegas knife mechanical system.

1. "I would "do something" every day at the certain time" - majority of jobs nowdays imply "doing something"; usually useless. So, check on this one.

2. 'then wait..." - internet browsing? lunch break? plain time wastin'? check.

3. "then collect profits at the end of the month..." - check; ok, you can get paid twice/month... depends on the job...

see, fits the requirements perfectly

seriously speaking - pin on e/cad(good level - 1.37, crap currency, eur), buob on gbp/cad(mediocre level, some wick from last upmove just above, but better currency). H4, EST charts
  • #101,393
  • Sep 9, 2011 8:45am Sep 9, 2011 8:45am
Quoting mbqb11
Hey Caesar

A dbhlc = Double bar high with a lower close. This is you will have matching highs and the bar most close below the previous bars low.

The opposite holds true for DBHLC

Let me know if you need examples
Mike
Hi Mike,

I see...thanks for your help, am currently looking through the older posts, will seek your help for examples if i'm stuck again...thanks!
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #101,394
  • Sep 9, 2011 9:28am Sep 9, 2011 9:28am
Happy Friday Friends! My FF commitment for the last few weeks has been fully the J16 thread and looking at 100's of charts by Jarroo, Mike, & the Maestro16 himself of course! The Result so far? Significantly fewer trades and only few & small losses. I suppose these two are in a way enough for successful trading - lol! But still a few questions linger if I may ask please:

PPZ's:
1. In pinpointing PPZ’s do you like to use Candle closes, low/high, or level most hit (I am inclined to go with the latter)? I think I am plotting acceptable PPZ's (well, acceptable & tradeable for me at least) - which however still somewhat differ from J16'ers.

2. I know you guys look for confluence with Fibs, BRN,..etc. But I presume these are of secondary importance after items above in Nu. 1?

3. When do you like to decide on creating a PPZ "zone” vs. a specific level on any given TF? Or do the horizontal levels created on different TF’s sometimes automatically create such zones?

IB's:
Knowing an IB is formed within H&L of the previous Bar, what makes it a “bearish” or “bullish” IB (besides if it is located near Support or Resistance)? Is this determined more by appearance of the previous or the subsequent bar?

I have seen plenty of chart examples in your posts - but if a particular one sticks out and is handily available to demonstrate above PPZ or IB qs. would be great if you could post.

Thanks Kindly and Have a Fabulous Weekend!
t
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #101,395
  • Sep 9, 2011 9:57am Sep 9, 2011 9:57am
Third week into live trading after months of demo and my current account stands at 3.5% appreciation. This goes to show how powerful j16 methodology can yield when you abide by it!
  • #101,396
  • Sep 9, 2011 10:01am Sep 9, 2011 10:01am
Quoting teemo

PPZ's:
1. In pinpointing PPZ’s do you like to use Candle closes, low/high, or level most hit (I am inclined to go with the latter)? I think I am plotting acceptable PPZ's (well, acceptable & tradeable for me at least) - which however still somewhat differ from J16'ers.
Remember PPZs are ZONES so sometimes these zones touch different points. Just view them for what they are. Flips b/w support and resistance. Sometimes we have minor zones, sometimes larger more major zones. Sometimes it can be exactly at highs/lows, sometimes not.

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2. I know you guys look for confluence with Fibs, BRN,..etc. But I presume these are of secondary importance after items above in Nu. 1?
Not necessarily it depends on the situation. Sometimes all I need is a big bar(look at usd/chf weekly). Sometimes you can have all of the above a great PPZ etc, but a BRN might be in the way and it's a pass. So it's situational for me.

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3. When do you like to decide on creating a PPZ "zone” vs. a specific level on any given TF? Or do the horizontal levels created on different TF’s sometimes automatically create such zones?

It depends on what you are looking at. Sometimes it is a single line where price is perfectly respected. Sometimes it's a zone. Price isn't perfect so the PPZ allows us a framework to be flexible with. If you look and price is perfectly respecting an area, then it is. If it isn't then it isn't. I know that seems obvious but that is the truth for how I view it.

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IB's:
Knowing an IB is formed within H&L of the previous Bar, what makes it a “bearish” or “bullish” IB (besides if it is located near Support or Resistance)? Is this determined more by appearance of the previous or the subsequent bar?
An inside bar as j16 looks at it is neither bearish or bullish, it is just an inside bar which represents a decrease and containment of range verse the previous bar(s)
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I have seen plenty of chart examples in your posts - but if a particular one sticks out and is handily available to demonstrate above PPZ or IB qs. would be great if you could post.

Attached is a chart with 2 ppzs. Both are PPZ one is just more exact and to a line then the other is a larger zone. Sometimes even a larger PPZ can be an exact line too, you have variations of everything. I did not attach a chart with the IB question as the above should cover it.

Also here are links from james on PPZ that are terrific
http://www.forexfactory.com/showthre...16#post2252116
Hope that helps
Mike
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  • #101,397
  • Sep 9, 2011 10:22am Sep 9, 2011 10:22am
Holy Smokes Mike! This is one of the best posts I have read! Thanks a Million my Friend!!


Quoting mbqb11
Remember PPZs are ZONES so sometimes these zones touch different points. Just view them for what they are. Flips b/w support and resistance. Sometimes we have minor zones, sometimes larger more major zones. Sometimes it can be exactly at highs/lows, sometimes not.


Not necessarily it depends on the situation. Sometimes all I need is a big bar(look at usd/chf weekly). Sometimes you can have all of the above a great PPZ etc, but a BRN might be in the way and it's a pass. So it's situational for me.



It depends on what you are looking...
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #101,398
  • Sep 9, 2011 10:41am Sep 9, 2011 10:41am
Teemo, the most recent IB I can think of is that of USD/CHF preceding the massive rally. If I am correct, it is I4B that jim has mentioned to be a powerful signal...correct me if I'm wrong though!
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  • #101,399
  • Sep 9, 2011 10:48am Sep 9, 2011 10:48am
Thank You for the example diDC. To be honest in following this thread for almost one year now I have become quite attached to BEOB, BUEOB, DBHLC, DBLHC, and PB. When these occur at good PPZ's (my personal favorite confluence is a good TL), these are very tradeable for me. I am still not sure what to do with IB's - but paying close attention to IB's as I am sure they must be saying something.
Thanks again my Friend!
t



Quoting biDc
Teemo, the most recent IB I can think of is that of USD/CHF preceding the massive rally. If I am correct, it is I4B that jim has mentioned to be a powerful signal...correct me if I'm wrong though!
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #101,400
  • Sep 9, 2011 10:53am Sep 9, 2011 10:53am
Quoting teemo
Thank You for the example diDC. To be honest in following this thread for almost one year now I have become quite attached to BEOB, BUEOB, DBHLC, DBLHC, and PB. When these occur at good PPZ's (my personal favorite confluence is a good TL), these are very tradeable for me. I am still not sure what to do with IB's - but paying close attention to IB's as I am sure they must be saying something.
Thanks again my Friend!
t
Same with you my friend. IB takes a while to get used to and perfect at for trading it as many snr members and jim himself had mentioned. Lately, I've been paying more attention to it and realized how powerful it can be in "predicting" price action!
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