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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

  • #102,061
  • Sep 21, 2011 7:14pm Sep 21, 2011 7:14pm
Quoting Donkey
Pin never broke so no chance for long entry at 1.2500 area. 1.2840 looks like it could give a nice bounce. Zooming out is interesting look at this ppz.

I love it Donkey.

You have obviously learned a great deal about Jarroo's methodology.

I tip my hat.
  • #102,062
  • Sep 21, 2011 7:17pm Sep 21, 2011 7:17pm
Quoting Bemac
I post as often as I can when I see Opportunityisnowhere.
Without Posting a Statement, I say...
I Actually do Trade Real & that takes some time away from reading/posting.
During that time I have higher priorities...
Perhaps we can modify the thread to accommodate that.

Not sure how we set that up but perhaps the way to go would be to list confirmed (successfull) Real Money Trader's as Seniors.


Just thinking...

B

Not sure what you mean B.

The statement I made really has a lot to do with my own perceptual situation. Rather than laying it on a new person.

Just seems a waste to not ask questions.
  • #102,063
  • Sep 21, 2011 7:25pm Sep 21, 2011 7:25pm
Hello mbqb, I'm into PLZ right now, and I would really appreciate your input on my charts @ EURUSD Daily.

How are my levels looking?

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Abit more closer;


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Here are the same levels during 2009-2010

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Guys, im all for feedback.
Your input will be greatly appreciated
  • #102,064
  • Sep 21, 2011 7:27pm Sep 21, 2011 7:27pm
Quoting Donkey
So here's my chart. Contiuation BUOB, would have preferred a close above 9000, but I am considering 8996 close enough considering the size/close of the bar and the strong confluence in the area. I have 2 entries....the demo retrace to the strong PPZ in line with LCS/HCR levels and previous bar highs and bar lows - all within 8 pips of each other. Stop goes on opposite end of bar, and would be reduced quickly if it triggers. This isn't a deep retrace, but there is a lot of confluence so I don't anticipate it much retracement.

Second entry is...
Donkey,
Thank you sooo much for posting this! I feel pretty comfortable with PA at swing highs/lows but not so much with trend continuation PA. I have a couple questions. Why did you choose to bring the SL up to .8910 once the BUOB breaks...I mean why .8910? Also, when you look at trend continuation PA what makes or breaks your decision for taking the trade?

Thank you.
  • #102,065
  • Sep 21, 2011 7:27pm Sep 21, 2011 7:27pm
Quoting fluiDynamic
Hello mbqb, I'm into PLZ right now, and I would really appreciate your input on my charts @ EURUSD Daily.

How are my levels looking?

Attachment

Abit more closer;


Attachment

Here are the same levels during 2009-2010

Attachment

Guys, im all for feedback.
Your input will be greatly appreciated
fantastic my friend!

Best
Mike
  • #102,066
  • Sep 21, 2011 7:34pm Sep 21, 2011 7:34pm
Quoting Pinbar
Not sure what you mean B.

The statement I made really has a lot to do with my own perceptual situation. Rather than laying it on a new person.

Just seems a waste to not ask questions.
Woah Big Fella...
Hey PB, You must know that you have a major influence on Market perception by your posts here.
It's not my thread, so it's not up to me but I felt that some of us Old fogey Real Traders might make a serious attempt to inform those that think of this as a video game how it really works.
Problem is... How to visably recognize a Serious Real Trader from a video player...

B
  • #102,067
  • Sep 21, 2011 7:39pm Sep 21, 2011 7:39pm
There is a nice BEOB..but there also seems to have a bearish divergence.
Attached Image (click to enlarge)
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higher price high, and lower stoch peaks..
  • #102,068
  • Sep 21, 2011 7:53pm Sep 21, 2011 7:53pm
Quoting Pinbar
I think everyone lurks for a while, but, we really need to get more opinions about our way of thinking and show our perception of what we know or think we know. In my personal experience, this constantly changes and we need to balance the scales by dialogue and getting more pieces of the puzzle put, in the right places & put the odd pieces from another puzzle, back in the bag.


Wishing you a safe and fun trading journey.
hello pinbar wanted to ask you that is james16 site worth to be joined or not ... a Genuine answer from a genuine person... waiting for ur reply
  • #102,069
  • Sep 21, 2011 8:10pm Sep 21, 2011 8:10pm
Quoting james16
chart
Lovin this Bro!

I wouldn't take that bet if it was $10 dollars, much less
10k!

I like to keep my money. LOL
  • #102,070
  • Sep 21, 2011 8:20pm Sep 21, 2011 8:20pm
Quoting rd122481
Donkey,
Thank you sooo much for posting this! I feel pretty comfortable with PA at swing highs/lows but not so much with trend continuation PA. I have a couple questions. Why did you choose to bring the SL up to .8910 once the BUOB breaks...I mean why .8910? Also, when you look at trend continuation PA what makes or breaks your decision for taking the trade?

Thank you.
Glad to post, hopefully I can explain my logic. I define the boundaries of the current ppz between two Highest Close of Resistance (HCR1 and HCR2 on my chart) between .8925 and .9000. My entry is fairly well above (18 pips) this PPZ. If my entry triggers and then reverses much below the ppz, I have probably missed my analysis for this bar and would not want to be in the trade (prefer cutting my risk).
8910 is 15 pips below the bottom of the ppz as I see it - so it looks like a decent place to hide a stop. I could put my initial stop in that area and increase my position size at the start of the trade - but then I have no where to really reduce my risk. I prefer, as Mike teaches, to have an obvious area to reduce risk so I dont take a full bar loss. In actuality, I may give the stop a little room below the RN 8900 and put it at 8885-8890 rather than 8910.

Second question on continuation trades. For me the 2 keys are the bar shape/close...and position/confluence.

 

  1. Shape/close...I want a large outside bar (I currently only trade outside bars for continuation) that engulfs multiple previous bars and closes very close to it's high (long) or low (short). To me this shape bar has the momentum to carry price further in my planned direction.
  2. Position/Confluence.....Ideally the bar straddles a PPZ at BRN with the close above for long or below for short. (This one actually failed that criteria). I needed several confluencing factors as well - generally the 150/365 emas, Jarroo's HCR's and LCS's lining up. This also gives me a spot to reduce risk.
  3. Finally, I also give consideration to the perceived strength of the pair. If I see a strong move followed by consolidation and then an outside bar...I take notice. Notice, as Mike teaches, a lot of the consolidation, takes place at the round numbers before price continues on.


So, for this set up, I am violating a rule by the close not being above the BRN. However, I believe the strength/confluence of the level at .8925, along with the shape and close of the bar, and the current strength of USD are enough to feel this is a high probability set up.

Hope that helps.

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  • #102,071
  • Sep 21, 2011 8:21pm Sep 21, 2011 8:21pm
Quoting TheFutureAce
Hello,

I have been trading forex for 3 years. I came to this thread when I joined but then I quickly got sucked into the "Trading Systems" section and all the downfall begin. I blew up 3 accounts. Made $$$$ only to lose $$$$ all of them and some more.

Now I am here and my goal now is to stay with this method for 6 months and then see the results.

I am only planning to trade the daily timeframe in demo mode for 3 months only trading PA at SR.

Sticking to this thread and Creating a trading plan is my goal right now.

I will update when...
Hey Ace!

Stick to this and cherry pick your trades and your account will grow.
I pretty much did the same thing as you. I started with J16 and grew my account, then went off to see if I could get some of those pips I was missing while waiting for my set ups. Needless to say the account suffered 80% loss before I pulled my head out of my rump and got back to doing what I know works. I just went back to straight J16 trades on monday and my account is up 10% in 4 trades. This stuff just works if you apply it properly and only take the good stuff.

Might I suggest...I now have a small $250 account that I trade pennies,nickels,and dimes on while waiting for good J16 set ups.
That way I get to trade the small time frames and try new things without risking any painful losses. Maybe it work for you?

Good Trading
Mike
  • #102,072
  • Sep 21, 2011 8:33pm Sep 21, 2011 8:33pm
Quoting Pinbar
I love it Donkey.

You have obviously learned a great deal about Jarroo's methodology.

I tip my hat.
Thanks PB...this means a lot. There are some great teachers here, we just have to approach it with an open mind and listen....and learn. I was very fortunate to find this thread early, before I developed any seriously bad habits (bad trading habits any way ).
  • #102,073
  • Sep 21, 2011 8:49pm Sep 21, 2011 8:49pm
Donkey,
That more than helps! Thank you so very much!
  • #102,074
  • Sep 21, 2011 8:52pm Sep 21, 2011 8:52pm
Dear james16 i have been searching ur email through lots and lots of ur thread and too searched ff search index but was not able to contact u one on one... have been reading ur critics and the one those favoured u... i want to learn from u ..
  • #102,075
  • Edited 9:11pm Sep 21, 2011 9:00pm | Edited 9:11pm
Quoting Bemac
Woah Big Fella...
Hey PB, You must know that you have a major influence on Market perception by your posts here.
It's not my thread, so it's not up to me but I felt that some of us Old fogey Real Traders might make a serious attempt to inform those that think of this as a video game how it really works.
Problem is... How to visably recognize a Serious Real Trader from a video player...

B

Fail to get your point but, it appears to be turning ugly.

I have idea what you are insinuating, and for what reason.

What I do know is, I have to run to the other side of Harbin in a few mins and have no time to get involved in such disturbances.

Maybe later
  • #102,076
  • Sep 21, 2011 9:57pm Sep 21, 2011 9:57pm
Quoting Donkey
Thanks PB...this means a lot. There are some great teachers here, we just have to approach it with an open mind and listen....and learn. I was very fortunate to find this thread early, before I developed any seriously bad habits (bad trading habits any way ).
+1

I was basically a clean slate when I found this thread. Hasn't stopped me from making mistakes but, thanks to the great guys here, I hope to reduce those over time and become profitable.

To paraphrase The Comic Book Guy:
"Best...thread...ever"
  • #102,077
  • Sep 21, 2011 10:39pm Sep 21, 2011 10:39pm
Quoting Pinbar
There she blows.
It bites me also...the weekly BEOB failed, fortunately on my Demo account.
----------------------------- Discipline makes the difference.
  • #102,078
  • Sep 21, 2011 10:43pm Sep 21, 2011 10:43pm
Quoting Pinbar
Fail to get your point but, it appears to be turning ugly.

I have idea what you are insinuating, and for what reason.

What I do know is, I have to run to the other side of Harbin in a few mins and have no time to get involved in such disturbances.

Maybe later
Typed reply & deleted. Better that way.
Best wishes PB

B
  • #102,079
  • Sep 22, 2011 1:13am Sep 22, 2011 1:13am
Hi P, Thanks for that indi , been looking around for a while for one that i like, this is just gr8 thanks , working like a charm

Mike
  • #102,080
  • Sep 22, 2011 1:31am Sep 22, 2011 1:31am
I place my sell order 10 pips below body engulf body bar.

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