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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

  • #103,841
  • Nov 1, 2011 11:34am Nov 1, 2011 11:34am
PPZ, PIN BAR on h4 chart ,get a chance on 5 mins chart .
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A chart helps those who can read it.
  • #103,842
  • Nov 1, 2011 12:26pm Nov 1, 2011 12:26pm
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.


Hope this helps someone.
It sure did mate, helps a ton! Many thanks for it!
  • #103,843
  • Nov 1, 2011 1:21pm Nov 1, 2011 1:21pm
Hey Guys,
i need your opinion about this pinbar still forming on the audcad daily TF i know it's not a top or a bottom but the 1.04350 level, where the price bounced today to form the pinbar, is a nice ppz as u can see in addition to the trendline in blue.
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Plan your Trade, Trade your Plan
  • #103,844
  • Nov 1, 2011 1:31pm Nov 1, 2011 1:31pm
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...
What a great post PB. Hell, that isn't just good for new guys. I just saved that to my file of good posts to set aside.

Ryan
  • #103,845
  • Nov 1, 2011 1:33pm Nov 1, 2011 1:33pm
Quoting decentchap
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...
Hey DC. couple of thoughts from the man himself on the power of confluence....Notice how he mentions over and over that confluences add strength to the setups.

http://www.forexfactory.com/showthre...ce#post4970754


http://www.forexfactory.com/showthre...ce#post4608966


http://www.forexfactory.com/showthre...ce#post1450527


http://www.forexfactory.com/showthre...ce#post2485817
  • #103,846
  • Nov 1, 2011 1:42pm Nov 1, 2011 1:42pm
Quoting mbqb11
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...

They actually have 71 now. They just added another 7 including USDRUB EURRUB which i havent seen anywhere before
  • #103,847
  • Nov 1, 2011 2:00pm Nov 1, 2011 2:00pm
Quoting Pinbar
Glad somebody finds it helpful.

I tried but in the signature, we are only allowed 2 lines and 300 characters including the BB links.
Could you just go back and combine this with one of the other posts and then change the title to the post? Might be nice to keep one master post that you could edit.

Ryan
  • #103,848
  • Nov 1, 2011 2:04pm Nov 1, 2011 2:04pm
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
Bring the questions on. Chances are good that with the turnover on the forum so high that for every question you may ask there are 25 people who are wondering the same, but will not ask it. I am always happy to help through PM as well. The same goes for everyone else on here as well. It is great to have the questions asked on here for all to follow though.

Ryan
  • #103,849
  • Nov 1, 2011 2:22pm Nov 1, 2011 2:22pm
Just back in from work and looking at the charts and the pa that I've missed during the day. (not able to check the charts today. First day in a new job and all that). One of the pairs I was looking at this morning was USDCAD. I was looking for price to setup something up around the descending trend line, but it looks like price has just powered straight through it.

Got to the RN 0200, and has started to come off a little now. Price is at an interesting level of fib confluence, that RN, and dare I say it....an interesting PPZ level.

I've marked off some areas on the daily, 8h and 4h charts below as part of my practice incorporating the Jarroo style levels. I'd love Jarroo or PB or anyone else proficient in this to cast your eyes over it and see if i'm in the right ball park. Trying to come up with some sort of entry strategy now.

DAILY
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8H
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4H
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  • #103,850
  • Edited 2:37pm Nov 1, 2011 2:23pm | Edited 2:37pm
Quoting BigJay
Hey Guys,
i need your opinion about this pinbar still forming on the audcad daily TF i know it's not a top or a bottom but the 1.04350 level, where the price bounced today to form the pinbar, is a nice ppz as u can see in addition to the trendline in blue.

Something like this would be very very bar formation dependent for me. I would only be able to give a true opinion as to if I would trade it once it closes. Here is my chart as I already had it and my thoughts on it presently:

I like:
-A triple top of sorts (looking further it is coming out of a consolidation area)
-A nice retest of the 1.05 BRN
-Might be capable of being a solidly formed pin bar.


Not so hot:
-FTA is quite close. I would classify it as the new high that is a few bars back
-Not much in the way of confluence (ema, divergence, fibs etc.) in fact on the MACD it is becoming more overbought.

Looking at the monthly there is a mediocre BEOB and we are working on getting above a 2004 high. Not 100% how I feel about the bar and that just about always means a pass for me.

Ryan

My original chart:
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Updated with consolidation:
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  • #103,851
  • Nov 1, 2011 2:25pm Nov 1, 2011 2:25pm
IMHO I can only add the support level at 1.05 Round Number where the left eye of the pinbar was rejected.

Quoting BigJay
Hey Guys,
i need your opinion about this pinbar still forming on the audcad daily TF i know it's not a top or a bottom but the 1.04350 level, where the price bounced today to form the pinbar, is a nice ppz as u can see in addition to the trendline in blue.
  • #103,852
  • Nov 1, 2011 2:41pm Nov 1, 2011 2:41pm
Quoting Donkey
Hey DC. couple of thoughts from the man himself on the power of confluence....Notice how he mentions over and over that confluences add strength to the setups.

http://www.forexfactory.com/showthre...ce#post4970754


http://www.forexfactory.com/showthre...ce#post4608966


http://www.forexfactory.com/showthre...ce#post1450527


http://www.forexfactory.com/showthre...ce#post2485817...
Hi D,

Thanks for taking the timeto post the links. It helped.
Trading is a test match not a Twenty20.
  • #103,853
  • Nov 1, 2011 3:08pm Nov 1, 2011 3:08pm
Hello Ryan

Looking at my monthly chart I see a BUOB on this pair, I attached it so you can see it.

I point that out because maybe it changes your opinion of the pattern.

I think the pattern is good or bad depending on the target you want to reach. Maybe it can be good with a target of 1,06 level with a tight stop below 1,05.

Or maybe I am just trying to be a hero? lol

Thank you, your post was very helpfull and complete

Hector

Quoting gungriffin

Looking at the monthly there is a mediocre BEOB and we are working on getting above a 2004 high. Not 100% how I feel about the bar and that just about always means a pass for me.

Ryan

My original chart:
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Updated with consolidation:
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  • #103,854
  • Nov 1, 2011 3:10pm Nov 1, 2011 3:10pm
Quoting mbqb11
great confluenced area to watch at the BRN of 1.55

Keep it simple J16 style folks
Nothing quite like a classic J16 to remind you how simple it can be!

No chart to post as yet (deadline at work). If someone could do the honours...

Gold. Great weekly PPZ at 1683ish, long on 1h PB, full profit at 1710.

Daily is shaping up quite nicely for another postion.

Eidt: Will post a chart if I even get home tonight!
  • #103,855
  • Nov 1, 2011 3:19pm Nov 1, 2011 3:19pm
couple of charts i'm watching....
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  • #103,856
  • Nov 1, 2011 3:23pm Nov 1, 2011 3:23pm
Quoting 5.25
Nothing quite like a classic J16 to remind you how simple it can be!

No chart to post as yet (deadline at work). If someone could do the honours...

Gold. Great weekly PPZ at 1683ish, long on 1h PB, full profit at 1710.

Daily is shaping up quite nicely for another postion.

Eidt: Will post a chart if I even get home tonight!

Here ya go.
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  • #103,857
  • Nov 1, 2011 3:41pm Nov 1, 2011 3:41pm
Quoting PinWing
Hello Ryan

Looking at my monthly chart I see a BUOB on this pair, I attached it so you can see it.

I point that out because maybe it changes your opinion of the pattern.

I think the pattern is good or bad depending on the target you want to reach. Maybe it can be good with a target of 1,06 level with a tight stop below 1,05.

Or maybe I am just trying to be a hero? lol

Thank you, your post was very helpfull and complete

Hector

I saw the BEOB and pointed it out in the final sentance, but I don't find it to be a very convincing BEOB. Notice how it did not close above the previous bar highs. To me that is not very bullish, but it is a BUOB. I am not saying not to go for it or that it will not work out, but these are just my thoughts.

Ryan
  • #103,858
  • Nov 1, 2011 3:57pm Nov 1, 2011 3:57pm
I noticed that Mike was talking a bit further up about looking at the 2 day charts rather than the daily, and taking a look at the bar development. I've just taken a look at EURJPY 2 day chart to see what it looks like. Quite a large pb piercing the descending trend line, and coming off the RN 112.

Not something I'll be trading myself, but it's interesting to see how it's developed none the less.

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  • #103,859
  • Nov 1, 2011 4:00pm Nov 1, 2011 4:00pm
How do you guys post charts without the orders cluttering the main chart? I am using MT4 btw. Or is there a better platform that i should look at?
  • #103,860
  • Nov 1, 2011 4:05pm Nov 1, 2011 4:05pm
Quoting Donkey
Here ya go.
Thanks Donkey. D1 PB (if closes as is) looks good to me.
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