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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

  • #103,901
  • Nov 2, 2011 9:34am Nov 2, 2011 9:34am
Quoting jarroo
Nice charts meshca . .although I like your S/L levels as my entries . .meaning, those are great levels . .
thank You Jarro so You mean my S/L's are as good as Your entries?

ok ok I know it would be better to put there pending orders to minimize risk but i still have no eyes for it. need to practice
all is eternal - this is good news for people who loves bad news
  • #103,902
  • Nov 2, 2011 9:48am Nov 2, 2011 9:48am
Quoting PIN Trader
I may be wasting my breath but attached is yesterday PIN bar trade on the e mini S&P futures contract. Short PIN, in a downtrend, bounce off a MA, no divergence to warn against a change in trend.
we see it Pin

I think if you post once more you become a regular member here, then your posts show in real time


Best
Mike
  • #103,903
  • Nov 2, 2011 9:52am Nov 2, 2011 9:52am
Quoting mbqb11
we see it Pin

I think if you post once more you become a regular member here, then your posts show in real time


Best
Mike
OK well there are still a couple missing but I suppose I can repost the charts.
  • #103,904
  • Nov 2, 2011 10:03am Nov 2, 2011 10:03am
As I said I normally steer away from forex but here is the same method on a H4 EURUSD chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 4H.jpg Size: 98 KB
  • #103,905
  • Nov 2, 2011 11:14am Nov 2, 2011 11:14am
Short PIN with divergence, I'm a bit more careful with these. They usually involve picking a top or bottom which can be dangerous.
Attached Image (click to enlarge)
Click to Enlarge Name: epz divergence.jpg Size: 102 KB
  • #103,906
  • Nov 2, 2011 11:27am Nov 2, 2011 11:27am
it seems we are rejecting 1.3835 area... i sold here. (EUR/USD 4H)

http://i41.tinypic.com/ri54w1.gif
all is eternal - this is good news for people who loves bad news
  • #103,907
  • Nov 2, 2011 12:00pm Nov 2, 2011 12:00pm
Quoting gungriffin
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
I was thinking about this trade yesterday on my way home, and my conclusion was that its just too risky to buy on a high (unless its a breakout trade, retesting previous resistance, with bulish pa confirming continuation to the upside).

No matter what happenned next, its just too risky. Watching it now, it made a move high, almost to 1,60, but then it came back as anticipated, so its just not worth the time, effort, and stress, nonetheless risking money on it.

Just wanted to share my final thought about that trade

Thank you very much for your comments and thoughts

Hector
  • #103,908
  • Nov 2, 2011 12:48pm Nov 2, 2011 12:48pm
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades
  • #103,909
  • Nov 2, 2011 12:53pm Nov 2, 2011 12:53pm
roflmaooo!
  • #103,910
  • Nov 2, 2011 1:17pm Nov 2, 2011 1:17pm
This is great man.

Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades
  • #103,911
  • Nov 2, 2011 1:26pm Nov 2, 2011 1:26pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades
LOL nice one...and so very true too

Funny and Factual!
  • #103,912
  • Nov 2, 2011 1:43pm Nov 2, 2011 1:43pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades
.
Hey wiz..just wanted to thank you for introducing me to the forex world. Your thread on another site got me started...

Hope you are doing well....
Trading is a test match not a Twenty20.
  • #103,913
  • Nov 2, 2011 1:47pm Nov 2, 2011 1:47pm
My first post was approved, after 2 years, lurker no more!
  • #103,914
  • Nov 2, 2011 3:06pm Nov 2, 2011 3:06pm
Quoting chaze52
My first post was approved, after 2 years, lurker no more!
welcome chaze
  • #103,915
  • Nov 2, 2011 3:20pm Nov 2, 2011 3:20pm
Mike been taking a look at the 2 day charts, and there are a few pairs that grab my eye, but this one is the best of the bunch so far. It's the AUDJPY.

You mind taking a look over my chart and seeing what you think for a short trade under the PB?

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2011-11-02 at 20.12.51.png Size: 134 KB
  • #103,916
  • Nov 2, 2011 3:25pm Nov 2, 2011 3:25pm
Quoting picon1
Mike been taking a look at the 2 day charts, and there are a few pairs that grab my eye, but this one is the best of the bunch so far. It's the AUDJPY.

You mind taking a look over my chart and seeing what you think for a short trade under the PB?

Attachment
Hey Picon

Looks pretty good to me. The issues I have would be trading back into the TL which also lines up with the BRN of 80. So we would still be shorting back into the PPZ and recent up move. So if i was forced to take this one I would be looking for a strong break and keeping it on a tight leash(ala james16 this is critical). So your FTA is close so just be real careful

Best
Mike
  • #103,917
  • Nov 2, 2011 3:30pm Nov 2, 2011 3:30pm
Quoting mbqb11
Hey Picon

Looks pretty good to me. The issues I have would be trading back into the TL which also lines up with the BRN of 80. So we would still be shorting back into the PPZ and recent up move. So if i was forced to take this one I would be looking for a strong break and keeping it on a tight leash(ala james16 this is critical). So your FTA is close so just be real careful

Best
Mike
Yeah I was looking at a number below 80 to go short which would see price nicely below that trend line, and the 38% fib line as a target area. Or maybe just above it, which would be just above the RN of 79 as well.

Didn't know whether I'd be clutching at straws a bit taking this one. Plus timing my entry is important. It's well into the evening here in UK, and as a rule I don't generally like placing trades, then going to bed and leaving them running. Not sure what to do on that front.
  • #103,918
  • Nov 2, 2011 3:40pm Nov 2, 2011 3:40pm
Quoting mbqb11
welcome chaze
Thanks Mike. It's like one of your heroes actually speaks to you! Big fan, seen all of your webinars! Actually learned a thing or a thousand too.

Can't thank you enough for your contribution to my education, of course all of the rest of the James16 Group as well!

From an extremely grateful paid up PF member!
chaze52
  • #103,919
  • Nov 2, 2011 3:53pm Nov 2, 2011 3:53pm
Quoting PIN Trader
Short PIN with divergence, I'm a bit more careful with these. They usually involve picking a top or bottom which can be dangerous.
Where are your entries and your exits in all of your posts. Without them they are just useless charts. Just trying to better understand what you are trading and your thought process in all of this.

Ryan
  • #103,920
  • Nov 2, 2011 3:56pm Nov 2, 2011 3:56pm
Quoting PinWing
I was thinking about this trade yesterday on my way home, and my conclusion was that its just too risky to buy on a high (unless its a breakout trade, retesting previous resistance, with bulish pa confirming continuation to the upside).

No matter what happenned next, its just too risky. Watching it now, it made a move high, almost to 1,60, but then it came back as anticipated, so its just not worth the time, effort, and stress, nonetheless risking money on it.

Just wanted to share my final thought about that trade

Thank you very much for your...
Glad to hear an update on all of this. I was wondering how it all played out. Will be interesting to see exactly what happens.

On a sidenote I am a strong believer in Mikes philosophy about pin and outside bar closes. He wants to see a buy close above the open and vice versa for a sell. This has saved me from many bad trades.

Ryan
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