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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

  • #103,821
  • Nov 1, 2011 3:15am Nov 1, 2011 3:15am
Hi Everyone....

I'm back to this thread and trading after a longish break. Life got busy and my trading (mostly for fun and pennies) took a back seat.

The Euro news has been gnawing at my conciousness for a few weeks now (living in UK you cant avoid it) and i cant help it, i'm back.

I've been studying the charts again (and retrospectively to see what i've missed) and without any doubt whatsoever THIS THREAD is the place to be. J16 methods still rule (not that there was any doubt over that).

So i was pleased to see pinbars charts on EUR/USD this morning, confirming what i've been thinking myself and reminding me that these bars WORK and i still remember the lessons Mike and James (and others) taught me a year or so ago (i was member of J16 site for a while - very good money spent).

I've been looking for opportunity to get short on EU/USD and my first trade in around a year is 60+ pips to the good so far. It's free from here on with this one, which is a nice start back.

The call for referendum in Greece and Italy's tentative economic situation are ideal fundamentals to look for PA (in my view) to short this pair more.

Sorry no charts from me as i'm at work and relying on browser charts.
  • #103,822
  • Nov 1, 2011 4:14am Nov 1, 2011 4:14am
Quoting Pinbar
Hope this helps someone.
It definitely helped me, thankyou, I have been wading through this thread, not wanting to take up contributors' time asking questions which have no doubt been asked before - this answered many of my unasked questions!

thanks again cheers cath
  • #103,823
  • Nov 1, 2011 4:32am Nov 1, 2011 4:32am
Quoting CathS
It definitely helped me, thankyou, I have been wading through this thread, not wanting to take up contributors' time asking questions which have no doubt been asked before - this answered many of my unasked questions!

thanks again cheers cath
Glad to hear it Cath, & welcome to the little thread. LOL

You also studying ICE?
  • #103,824
  • Nov 1, 2011 5:03am Nov 1, 2011 5:03am
Quoting Pinbar
Glad to hear it Cath, & welcome to the little thread. LOL

You also studying ICE?
yes, the wonderful Bemac has been helping me, setting off many lightbulbs in my little brain!! Having traded previously via fundamentals only it is taking a while to absorb all of this but the "coincidence" of PA lining up with ICCE lines is very hard to ignore!!!

Also having paid many thousands for trading training over the years I really appreciate all the time and effort you guys all put in to teaching us here, I find it quite amazing!!
  • #103,825
  • Nov 1, 2011 5:07am Nov 1, 2011 5:07am
Quoting CathS
yes, the wonderful Bemac has been helping me, setting off many lightbulbs in my little brain!! Having traded previously via fundamentals only it is taking a while to absorb all of this but the "coincidence" of PA lining up with ICCE lines is very hard to ignore!!!

Also having paid many thousands for trading training over the years I really appreciate all the time and effort you guys all put in to teaching us here, I find it quite amazing!!
Glad you are doing well on your journey.

I was over at ICE the other day and saw your name on a few posts.
Finding the correct consolidation area is the hardest part, for me anyway.
I am always afraid, I am curve fitting it.
Got any tips?
  • #103,826
  • Nov 1, 2011 5:51am Nov 1, 2011 5:51am
Quoting Pinbar
Glad you are doing well on your journey.

I was over at ICE the other day and saw your name on a few posts.
Finding the correct consolidation area is the hardest part, for me anyway.
I am always afraid, I am curve fitting it.
Got any tips?
I've studied James' stuff for a quite a while. I have concluded that just trading every PIN will not give you an edge, likewise using S&R as well as a PIN has not proved very profitable as you are always trying to pick tops and bottoms. I think there definitely has to be a degree of discretion used and trades seem to be much better when taken following the trend not trying to determine when the trend is about to change. I'm also not convinced forex is the best instrument, I have found futures to be much better but seeing as how this is forexfactory I suppose I should stick to the point.
  • #103,827
  • Nov 1, 2011 5:54am Nov 1, 2011 5:54am
Quoting Pinbar
Jarroo setup at its simplest


EDIT:
It may run, if it breaks through the Daily LCS and the obvious spike retest areas.

It certainly was and what a great testament to Jarroo's methodology.
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  • #103,828
  • Edited 6:31am Nov 1, 2011 6:13am | Edited 6:31am
Quoting PIN Trader
I've studied James' stuff for a quite a while. I have concluded that just trading every PIN will not give you an edge, likewise using S&R as well as a PIN has not proved very profitable as you are always trying to pick tops and bottoms. I think there definitely has to be a degree of discretion used and trades seem to be much better when taken following the trend not trying to determine when the trend is about to change. I'm also not convinced forex is the best instrument, I have found futures to be much better but seeing as how this is forexfactory...

Of course not trading every PB will be profitable, it goes without saying.
As for your comment that we are "always trying to pick tops and bottoms by using S&R".
That is totally not the case.



Was the EU setup above which I posted just after the daily close, a top or a bottom?

Of course it wasn't.

You seem very critical on your very first post.

Still, look on the bright side, when you have read all 6,924 posts, you may change your mind.
  • #103,829
  • Nov 1, 2011 6:17am Nov 1, 2011 6:17am
Quoting Pinbar
Of course not trading every will be profitable, it goes without saying.
As for your comment that we are "always trying to pick tops and bottoms by using S&R".
That is totally not the case.

Was the EU setup a above which I posted just after the daily close, a top or a bottom?

Of course it wasn't.
It wasn't indeed. Netted me 100+ pips so far tho. Simple. Elegant. Effective.

One could (and we all have) get bogged down with many different types of indicator and not have a clue where price is going. This method does give you clues. Good ones.
  • #103,830
  • Nov 1, 2011 6:31am Nov 1, 2011 6:31am
Quoting beebolbod
It wasn't indeed. Netted me 100+ pips so far tho. Simple. Elegant. Effective.

One could (and we all have) get bogged down with many different types of indicator and not have a clue where price is going. This method does give you clues. Good ones.

Good Job Be.
  • #103,831
  • Nov 1, 2011 7:00am Nov 1, 2011 7:00am
Quoting Lightrain
Just created this account after weeks of reading, to thank the members of this thread. I've been trading for a year and a half - starting out at a major UK bank, and since reading this forum, I finally feel like I'm getting this.
I'll try not to make this too cliché,
[color=black][font=Verdana]Too many names to remember everyone who has posted helpful messages but thank you everyone who contributes here. It's only been a few months but... wow... trades taken off...

Welcome Light

Glad to hear it's helping, just gotta keep learning and practicing

Best
Mike
  • #103,832
  • Nov 1, 2011 7:03am Nov 1, 2011 7:03am
Quoting Philodox
hey guys, can i ask how you guys deal with correlation pairs? You know, like i want to maximize the number of pairs to use my strategy with, but seems like alot of them have very high correlation. Like if you buy aud/usd, it is almost the same as you buy nzd/usd and also the signal are very similar in most usd pairs. A pinbar in aud/usd will likely happen in eur/usd as well. If you take them all and the trade fails, it would be a very large loss.

So in short, how do you maximize your strategy potential while not falling into the correlation trap?...
Hey Phil

I keep it real simple here. Firstly I never have too many trades going at once, b/c I am always trying to be picky. So at the end of the day I play my chart. If a setup is good I take it. Now there are days as you said that you may get outside bars on all the xxx/jpy pairs, or on both aud/usd and nzd/usd which are clearly like doubling your bet if taking both(all things considered). In cases like this I simply take the best one. If they both work out that's great when you are on the winning side, but what about the losing side(which you are being smart to focus on). I keep it simple and trade the chart. By being picky you will not be overly concerned with correlation b/c the number of trades you open at once, or have opened at any one time is going to be much lower. So with that I watch ALL pairs I can trade. A good list is in FXpro ~60-70.

Hope that helps
Mike
  • #103,833
  • Nov 1, 2011 7:03am Nov 1, 2011 7:03am
Quoting beebolbod
Hi Everyone....

I'm back to this thread and trading after a longish break. Life got busy and my trading (mostly for fun and pennies) took a back seat.

The Euro news has been gnawing at my conciousness for a few weeks now (living in UK you cant avoid it) and i cant help it, i'm back.

I've been studying the charts again (and retrospectively to see what i've missed) and without any doubt whatsoever THIS THREAD is the place to be. J16 methods still rule (not that there was any doubt over that).

So i was pleased to see pinbars charts on EUR/USD...
welcome back Bee hope all is well

Best
Mike
  • #103,834
  • Nov 1, 2011 7:12am Nov 1, 2011 7:12am
Quoting Pinbar
Hope this helps someone.
Thanks pinbar, it helps a lot
  • #103,835
  • Nov 1, 2011 7:17am Nov 1, 2011 7:17am
I do not speak English and I've been following the public forum for a year and operates in accordance with my translator software GOOGLE. My question is if I sign up for the private forum there are also explanations in writing that GOOGEL could translate for me or it's just a video.?
  • #103,836
  • Nov 1, 2011 7:19am Nov 1, 2011 7:19am
great confluenced area to watch at the BRN of 1.55

Keep it simple J16 style folks
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  • #103,837
  • Nov 1, 2011 7:23am Nov 1, 2011 7:23am
Thanks PB great post


Mike
  • #103,838
  • Nov 1, 2011 7:28am Nov 1, 2011 7:28am
Quoting Yehuda Sh
I do not speak English and I've been following the public forum for a year and operates in accordance with my translator software GOOGLE. My question is if I sign up for the private forum there are also explanations in writing that GOOGEL could translate for me or it's just a video.?
Hey Yehuda


Welcome

We have both text, and videos. Although there is a lot of great things in the videos that are easier to understand then in text.

So impressed by those of you who don't speak English as you first language


Best
Mike
  • #103,839
  • Nov 1, 2011 8:09am Nov 1, 2011 8:09am
Quoting Pinbar
Maybe the best of both worlds is a good place to start for people new to the J16 methodology and Jarroo's methodology.
I know, how important it is to understand both the regular PPZ and indeed how Jarroo qualifies them.

If this helps just one new person and furthers their interest, it was well worth it.

First, let's look at the traditional way of identifying PPZ ( Price Pivot Zones) as are taught in this thread, then let's go one step further and qualify them, how Jarroo taught us.

Pick 1: You can see I marked the Main flip areas, or areas where...
Hi PB,
I am learning this method and the above helps a lot in cosolidating all the knowledge. I tend to draw the Weekly levels every weekend and see how price reacts to them during the week. Also at the month end I draw the Monthly levels. I am yet to draw daily levels but I guess i should start doing them..
The concept I am struglling with is, lets say you can clearly see the flip, you get a good pin (with long nose) or BU/BE OB with strong close - Would you still pass the trade if you dont have addinal confluences like EMAs, divergence etc..
Trading is a test match not a Twenty20.
  • #103,840
  • Nov 1, 2011 8:13am Nov 1, 2011 8:13am
Quoting mbqb11
great confluenced area to watch at the BRN of 1.55

Keep it simple J16 style folks
I'm interested in how this bar will close!
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