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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

  • #104,501
  • Nov 16, 2011 4:22pm Nov 16, 2011 4:22pm
Hello all,

This is my first post to the thread. I've seen the James 16 thread referenced many times on FF but have not delved into it.

Yikes...7000 pages. There's no way I can read through that. Any ideas on how to best get up to speed on this short of a full read.
I don't mind doing some work, I just don't want to spin my wheels.

Thanks
  • #104,502
  • Nov 16, 2011 4:40pm Nov 16, 2011 4:40pm
Hi Mike,
Thanks a lot for your reply. I have a few questions, if I may -

1) What do the acronym FTA and BRN stand for? Though, I understood the context in which you mentioned them.

2) " Looks like your demo feed is off though" What do you mean by that? Is my MT4 not getting regular live stream? My first swing high created by the first bar was around 2.0557.

3) " Always good to check with multiple feeds, or a live feed if you have access "Is the feed on demo MT4 not live, eh?

Quoting mbqb11
Hey 16

Welcome to the thread

Someone had asked me about this in the PF so I wrote this about this inside bar, and posted a chart with the FTA.


Here was my response

______________________________

I don't trade inside bars much I think they are the trickiest to trade. In my view it's easier to learn to trade the other bar formations(outside, pins, dblhc/dbhlc, multibarhighs/lows) first. Inside bars represent the market resting or consolidating. So the information isn't as much most times as the other bars for me.
..............
(better...
Thanks so much
  • #104,503
  • Nov 16, 2011 4:43pm Nov 16, 2011 4:43pm
Quoting mbqb11
Mike
My thoughts and prayers my friend.
  • #104,504
  • Edited 6:12pm Nov 16, 2011 4:55pm | Edited 6:12pm
GBPAUD Daily

- HCR
- Proven level
- Price breaks through and closes above
- First time back and entry

Just to add to the recent comments regarding trading the lower time frames, I've found myself only trading Daily and Weekly levels. For me, they hold the most weight for price to flip or react. PA can come from the lower time frames but the story remains on the daily and weekly. It's my take on the J16 teachings. I'm working towards a stress free life and healthy business
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  • #104,505
  • Nov 16, 2011 5:19pm Nov 16, 2011 5:19pm
Quoting 5.25
GBPAUD Daily

- HCR
- Proven level
- Price breaks through and closes above
- First time back and entry

Just to add to the recent comments regard trading the lower time frames, I've found myself only trading Daily and Weekly levels. For me, they hold the most weight for price to flip or react. PA can come from the lower time frames but the story remains on the daily and weekly. It's my take on the J16 teachings. I'm working towards a stress free life and healthy business

You beat me to it, T . . . . .well said post . . .Daily targets hit nicely . .

Jim

Quoting jarroo
The 1.5500 BRN . . . would be nice for some Bullish PA . . . on the Gbp/Aud. .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,506
  • Nov 16, 2011 5:20pm Nov 16, 2011 5:20pm
Quoting meshka
and cable will breakdown soon.. Big bearish outside candle on daily cuts through all range box above 1.5900. placed my entry right below it.
Hope it worked out for you Meshka?

Just my view as to why I stayed out, but where I "could" have gotten in for another entry. All a learning experience of course

T
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  • #104,507
  • Nov 16, 2011 5:30pm Nov 16, 2011 5:30pm
Quoting jarroo
You beat me to it, T . . . . .well said post . . .Daily targets hit nicely . .

Jim
Just reiterating your teachings Jim
  • #104,508
  • Nov 16, 2011 5:38pm Nov 16, 2011 5:38pm
Quoting Fx7877
Jarroo, thanks for your taking time to answer this very long list of questions. It sure made things clearer for me. I have a few follow up questions in green below. Thanks again!


Q&A with Jarroo:
-you mentioned that once a TT is taken, having ageeable or complimenting PA ( on different TFs) that is in your favor is always good confirmation that your entry is correct. What do u do if after taking TT, you get unfavourable PA? Do you close out prematurely?No. Keep tighter SL?? etc. [color=blue]If I don't get confirming PA I...
Jarroo, as this e.g is quite complicated and to be sure I don't trip myself over it, I take this to mean that u will choose option (c), so for TT, price not necessary have to TOUCH the line, but as long as its close enough within bufffer its ok. Yes, That's correct . .there may be other entries prior to the HCR/LCS level . .like a multi-Bar High or Low that can be used as a buffer type entry.

I think u misunderstood my question for the latter. Yes, I agree that the 4th bar (big red bar) after 2nd entry bar didn't Close below the HCR, however, could it be a TT for a 3rd entry (to trade to the upside)? If no, why not? Yes it could be a TT for a 3rd or 4th or 5th time. . Depending on the strength of the level. PA that is in agreement with that level (i.e. Bullisih PA at Support) is always a better confirmation.


On a separate note, if there are 2 lines drawn very closely to each other like in the AUDUSD example (2 green lines around 1.03) and PBT&CA in BETWEEN the 2 lines, does it have to close above BOTH the 2 lines before we consider it valid? There is usually 2 lines at these level due to the Weekend gap . .(damn gap!! . .lol). I willl look at both levels and it is best to see the Close Above/Below both levels.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #104,509
  • Nov 16, 2011 5:47pm Nov 16, 2011 5:47pm
Quoting 5.25
Just reiterating your teachings Jim

Cool, T . .

Looking at the GU Daily levels . .That Daily HCR level had a great bullish reaction to the Daily targets and is having a great bearish reaction currently. .



. .although you would have to have seen it on the Hourly or 4 Hour. .the lower time frames .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,510
  • Nov 16, 2011 6:37pm Nov 16, 2011 6:37pm
Quoting geniusztc
[/list]how about weekly--daily---hours---5mins? whenever i find a chance on weekly chart ,i will turn chart to daily ,wait for better trigger chance on daily chart ,when i find a good chance on daily chart ,i will turn chart to hours chart for better trigger chance ,,,,,,,and so on . the reasult ,i find chance on weekly chart ,and trigger on 5 mins chart . just my opinion.

Yeah, but you have more than 6 posts, my friend. LoL
  • #104,511
  • Nov 16, 2011 6:49pm Nov 16, 2011 6:49pm
Quoting Donkey
Nice - I'm personally waiting on PBT&CA the LCS at 1.3209 (I think it's 1.3206) on your chart. Looks like the perfect spot for a flip from resistance to support.

I agree, it has less resistance above than below, for sure.
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  • #104,512
  • Nov 16, 2011 7:07pm Nov 16, 2011 7:07pm
Quoting mbqb11
I don't do this ever but I could really use everyone's prayers out there. My friend who is a cop was struck by a car late last night while doing a routine traffic stop. He is in very critical condition. Please pray for him

Thanks
Mike

My thoughts and prayers are with him and his family, brother . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #104,513
  • Nov 16, 2011 7:22pm Nov 16, 2011 7:22pm
Quoting mbqb11
I don't do this ever but I could really use everyone's prayers out there. My friend who is a cop was struck by a car late last night while doing a routine traffic stop. He is in very critical condition. Please pray for him

Thanks
Mike
Oh, dear, sorry to hear this.

May, he heal quickly.
  • #104,514
  • Nov 16, 2011 7:45pm Nov 16, 2011 7:45pm
Quoting jarroo
Jarroo, as this e.g is quite complicated and to be sure I don't trip myself over it, I take this to mean that u will choose option (c), so for TT, price not necessary have to TOUCH the line, but as long as its close enough within bufffer its ok. Yes, That's correct . .there may be other entries prior to the HCR/LCS level . .like a multi-Bar High or Low that can be used as a buffer type entry.

[color=green]I think u misunderstood my question for the latter. Yes, I agree that the 4th bar (big red bar)...
Thanks Jim, got it!
  • #104,515
  • Nov 16, 2011 7:47pm Nov 16, 2011 7:47pm
Mike,
Sorry to hear abt your friend's accident. Hope your friend will stay strong and get well soon.
  • #104,516
  • Nov 16, 2011 7:50pm Nov 16, 2011 7:50pm
Quoting PinWing
Different reasons, but got to the same conclusion.... have to remember to zoom out my charts, lol

Hector
I was the same way Hector until Mike told me to zoom out about a zillion times . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #104,517
  • Nov 16, 2011 7:50pm Nov 16, 2011 7:50pm
Hey Mike,

I will be praying that your friend gets well.

Shep.
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #104,518
  • Nov 16, 2011 7:55pm Nov 16, 2011 7:55pm
Quoting jarroo
You beat me to it, T . . . . .well said post . . .Daily targets hit nicely . .

Jim
Hi Jim,
Where did u set your SL for this TT?

I was also watching this pair and have already set buy stop order above the BUOB (marked arrow) in demo becos of the multiple long leg bars at PPZ at 1.5566 area. Can you comment on this setup? Thanks!
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  • #104,519
  • Nov 16, 2011 7:56pm Nov 16, 2011 7:56pm
Probably already mentioned, but there's lots of confluence near the 76.50 level on AUDJPY:

+ 61% Fib
+ Daily HCR Level
+ Daily PPZ level
+ Round Number

I might look for a touch trade at this level.

Shep.
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"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #104,520
  • Nov 16, 2011 8:05pm Nov 16, 2011 8:05pm
Quoting Fx7877
Hi Jim,
Where did u set your SL for this TT?

I was also watching this pair and have already set buy stop order above the BUOB (marked arrow) in demo becos of the multiple long leg bars at PPZ at 1.5566 area. Can you comment on this setup? Thanks!
My stop loss was about 35 pips below the 1.5500, which was my entry.

1.5500 BRN, 150 ema confluence, great PPZ level history . .and PBT&CA.
Indicators show the past. Price Action "Indicates" the future.
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