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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

  • #104,921
  • Dec 4, 2011 6:59am Dec 4, 2011 6:59am
Quoting Gpfx
Any thoughts on this set up??

GP
I think this is a good setup...but I do not take Friday formed small pinbar, when I saw this yesterday, I felt so pity it's not on other day than friday.
----------------------------- Discipline makes the difference.
  • #104,922
  • Dec 4, 2011 7:04am Dec 4, 2011 7:04am
Quoting CavinK
I think this is a good setup...but I do not take Friday formed small pinbar, when I saw this yesterday, I felt so pity it's not on other day than friday.

That is my only concern, especially with last Friday being NFP.

At the end of the day though it is still a rejection of an area of confluence so for me I think the probability is still high.

Thanks for comment

GP
  • #104,923
  • Dec 4, 2011 7:05am Dec 4, 2011 7:05am
Quoting Gpfx
Any thoughts on this set up??

GP

Small bar compared to a few of the bullish bars, and a PPZ right below it at the two consolidation areas.

It is an easy pass for me, even if it does break and move 100 pips.
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  • #104,924
  • Dec 4, 2011 10:05am Dec 4, 2011 10:05am
Quoting biDc
It's one thing I have no control over but it doesn't look that far off with my 5 day/week chart either...for this case anyway lol
Interestingly, even the ToS chart you posted in your second post is not completely accurate either, though it's a lot closer.

With something like a 200SMA, it only has benefit if traders see the same thing. No market in the world trades 6 days--all 5 days. With a Sunday bar, you are essentially double-weighting Friday's close (or a price close to it). This introduces a significant skew, about 15%. Also, you are not including roughly 33 trading days at the beginning of the period which should be included, but are not because of the introduction of a non-existent Sunday trading day.

I've attached two accurate daily charts of the s&p cash, one available for free from freestockcharts, and the other taken from investor r/t, using highly accurate iqfeed data, for reference.
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  • #104,925
  • Dec 4, 2011 11:31am Dec 4, 2011 11:31am
Quoting JoshDance
Interestingly, even the ToS chart you posted in your second post is not completely accurate either, though it's a lot closer.

With something like a 200SMA, it only has benefit if traders see the same thing. No market in the world trades 6 days--all 5 days. With a Sunday bar, you are essentially double-weighting Friday's close (or a price close to it). This introduces a significant skew, about 15%. Also, you are not including roughly 33 trading days at the beginning of the period which should be included, but are not because of the introduction...
Hmmm that's really interesting. Thanks for that!
  • #104,926
  • Dec 4, 2011 12:33pm Dec 4, 2011 12:33pm
great TL to watch for you equities people
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  • #104,927
  • Dec 4, 2011 1:26pm Dec 4, 2011 1:26pm
To Jim and the James16Group,

I just wanted to say that I have <finally> been led to this thread for a more in-depth look at what you good folks have been doing so skillfully over the past several years. I have now watched all the free videos on the J16Group Guest page and have read all the information and links (including links within the links) from Jim's first page. I am now about 30 pages into reading this thread and plan to go at least 200 pages. After this, I plan to begin demo testing on the daily and weekly charts for your suggested minimum three months. I/we may join the PF at some point, but have some work to do before that point.

A little background about me... I became a registered member of this forum in November 2006 and had been experimenting with Forex for about 2 years prior to that time and had actually become a profitable trader by then. However, I struggled with psyche problems that manifested in terrible inconsistency in my trading. I also began the process of "system hopping" when my previously profitable methods tanked, aided in part by the breakdown of the Yen Carry Trade market conditions, but mainly due to my own inconsistencies.

In December of 2007, I became involved full time with Skunny's group of fibo traders and spent the last four years pouring myself into working with the remaining members of that private forum. During that time, my understanding of fibo-based trading, as well as position sizing and money management has increased immensely. Overall, I am very thankful for that experience and have made many dear friendships along the way.

On the downside, I am now coming to the realization that, after four long years of studying fibs, I really have very little tangible returns to show for my efforts in terms of actual trading profits. During this last year in particular, I have really made the decision to stop my novel "discovery" process with fibs and begin to focus more on moving forward with ACTION. This is really what has led me to this thread at this point in time. I must admit, after taking a pretty solid look at what you all have been doing, you are much closer to where I would really like to be than I got studying fibs. However, I can honestly say that I wouldn't trade my last four years of experiences and friendships for anything. I can also make the statement that, perhaps I wasn't quite ready for the PASR information then...but I certainly am NOW.

I would also like to say that it took me every bit of about 3 minutes of watching Jim's videos to get a glimpse of his solid character and his excellent teaching abilities, not to mention the TIMELESS VALUE of the material he teaches. Of course, I already had a pretty good idea about that from Diallist. Suffice it to say that after spending some time finally investigating the J16 information, I'm now regretting not doing it a lot sooner. But, I am quite happy to be here NOW and to get busy learning all I can. The good news is...I'm not learning from scratch and have a good knowledge-base that I can now add to. A few of us in our fibo group are currently building a multi-term trading strategy and we feel that the J16 information will be a great fit for helping us develop it.

Anyway, enough rambling from me. I just wanted to introduce myself to the group and say THANK YOU James16 and CREW for the IMMENSE amount of quality information that you have placed within easy reach for the taking. It is quite obvious how many people have been helped by your efforts and generosity just within the posts I've already read. Almost 7000 pages and over 100,000 posts?? That ALONE speaks volumes...no pun intended. Seriously...I really could kick myself for not coming over here at least a couple of years earlier, but no more whining about it!

Will post my questions as they arise and I look forward to this new process!
Take care and God bless!
  • #104,928
  • Dec 4, 2011 1:58pm Dec 4, 2011 1:58pm
Quoting Pinbar
Small bar compared to a few of the bullish bars, and a PPZ right below it at the two consolidation areas.

It is an easy pass for me, even if it does break and move 100 pips.

Hey Pin,

Thanks for comments; I am intrigued as you say it’s an easy pass.
I can see the bullish move up with large bars not being ideal, however for me there are a good 40 pips between the PB and next area of consolidation, which I agree price will struggle to get through, however this is plenty of room to get stop to BE and be in a free trade.

If the PB was larger than the preceding price action would you then considerer the trade?

Please advise I am keen to learn

Thanks

GP
  • #104,929
  • Dec 4, 2011 2:45pm Dec 4, 2011 2:45pm
Quoting Pipskateer
To Jim and the James16Group,

I just wanted to say that I have <finally> been led to this thread for a more in-depth look at what you good folks have been doing so skillfully over the past several years. I have now watched all the free videos on the J16Group Guest page and have read all the information and links (including links within the links) from Jim's first page. I am now about 30 pages into reading this thread and plan to go at least 200 pages. After this, I plan to begin demo testing on the daily and weekly charts for your suggested...
Welcome Pip

Glad to have you and hopefully this information can help you and it can always at least help refine some previous ideas too.

Best of luck
Mike
  • #104,930
  • Dec 4, 2011 2:58pm Dec 4, 2011 2:58pm
Quoting Pipskateer
To Jim and the James16Group,

I just wanted to say that I have <finally> been led to this thread for a more in-depth look at what you good folks have been doing so skillfully over the past several years. I have now watched all the free videos on the J16Group Guest page and have read all the information and links (including links within the links) from Jim's first page. I am now about 30 pages into reading this thread and plan to go at least 200 pages...

Will post my questions as they arise and I look forward to this new process!
Take care...
I never know how much that (30 Pages) really is.
Under User Options (in the Frame left of the Forums) you can adjust the Page Size.
Mine is set to Max @ 40.

Number of Posts to Show Per Page Use this option to set the number of posts to show in a thread before splitting the display into multiple pages. Number of Posts to Show Per Page: 40
B
  • #104,931
  • Dec 4, 2011 3:17pm Dec 4, 2011 3:17pm
I recognize the PB in discussion as a Possible turning point But I {Like PB said} am not sure it is strong enough to defend the slings and arrows headed it's way.
I can envision a scenario where CADJPY will (quickly) Retest & Break 77.23 while on it's way to 77.98 before "Re-Calculating"
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But then again; It may just be a sign of "The Winds of Change" forthcoming.
74.38 Min Low to re-enforce that this is indeed a return of the Bull.
I know that is a Long ways away from where we are at for some of you, (if we do head South, I give it a week. Maybe 2 Wks to hit that Blue Dashed Diag). IF we Get there, I want to be aware of the possibilities.

Watching with interest how it behaves within the next few Hours or so. After all, it is a Yen Pair.

B
  • #104,932
  • Dec 4, 2011 3:41pm Dec 4, 2011 3:41pm
Quoting Bemac
I recognize the PB in discussion as a Possible turning point But I {Like PB said} am not sure it is strong enough to defend the slings and arrows headed it's way.
I can envision a scenario where CADJPY will (quickly) Retest & Break 77.23 while on it's way to 77.98 before "Re-Calculating"
Attachment
But then again; It may just be a sign of "The Winds of Change" forthcoming.
74.38 Min Low to re-enforce that this is indeed a return of the Bull.
I know that is a Long ways away from where we are at for some of you, (if we do head South,...
I'd like to sit and watch it also but, got to run to Harbin airport for my trip to Japan. Later
  • #104,933
  • Dec 4, 2011 3:52pm Dec 4, 2011 3:52pm
Quoting meshka
Yogi recommends another Monday trade
I noticed this one on Friday. Many of the JPY pairs were looking like this one. We will see just how it opens. One big item that stands out to me is that this is not a pin bar, but instead a pin formation of a BEOB. As a BEOB I am not in love with the close though. Does that mean I will not trade it? I honestly don't know yet, but it was just something that stood out to me.

Ryan
  • #104,934
  • Dec 4, 2011 4:10pm Dec 4, 2011 4:10pm
Quoting FxPrelude
I would ignore that IB just because of the strong weekly close below the TL ... On daily it looks like that IB was just a pullback back to TL .

Yes i know the W close is not valid yet but idk if there will be much going on from now on any way ...
I played both the Eur/Aud and the Gbp/Aud off the weekly and both ended up being great trades for me. Pinbars off the resistance at a great location. For me thats A+ trade opportunity.
  • #104,935
  • Dec 4, 2011 4:11pm Dec 4, 2011 4:11pm
Quoting Pinbar
I'd like to sit and watch it also but, got to run to Harbin airport for my trip to Japan. Later
Hmm... Say hi to Osaka & Kyoto for me. I'd like a 15degree rise in tpmperature right now. (tough to feed the dogs when the water freezes in minutes.

SAFE TRIP PB.
B
  • #104,936
  • Dec 4, 2011 5:23pm Dec 4, 2011 5:23pm
Quoting Donkey
Dear Forex Market,
As an early Christmas present, I would like a nice large pinbar on the AUDJPY.

Thanks in advance,
Donkey
Looks like I got part of the present....Friday's bar was Pin, but the bar looks small compared to the current up move (same as Pinbar noted on CADJPY). I'm going to pass, but this one is definitely in a nicely confluenced area (BRN/PPZ/61.8 Fib/150 ema).

Will watch it to see what happens.
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  • #104,937
  • Edited 6:02pm Dec 4, 2011 5:48pm | Edited 6:02pm
Quoting thermobee
I played both the Eur/Aud and the Gbp/Aud off the weekly and both ended up being great trades for me. Pinbars off the resistance at a great location. For me thats A+ trade opportunity.
Hi .
Sory i dont understand how you played this ? The price just igonred the TL and closed below . I sayed i wouldnt go long on that IB at that moment ... because it looked like a pulback to TL and a lower close on friday .
I dont know maybe it will turn out to be a good trade this week if you went long on it lol

Edit: I think it came to misunderstanding ... on Weekly i pointed out that PB and a close below TL to show that because of that PB price could go eaven lower especialy with bad picture in EU at the moment . I didnt said that Weekly PB was a bad trade .
Just my 2 cents i could be wrong
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  • #104,938
  • Edited 8:33pm Dec 4, 2011 8:11pm | Edited 8:33pm
Quoting Bemac
I never know how much that (30 Pages) really is.
Under User Options (in the Frame left of the Forums) you can adjust the Page Size.
Mine is set to Max @ 40.

Number of Posts to Show Per Page Use this option to set the number of posts to show in a thread before splitting the display into multiple pages....
Mine was set to forum default which is 15 posts per page. I changed it to 40 as well and now the J16 thread only has 2624 pages instead of almost 7000!! Wow! That's MUCH easier to read...I think I'll go for it! (you know I'm kiddin, right? )
  • #104,939
  • Dec 4, 2011 8:13pm Dec 4, 2011 8:13pm
Quoting mbqb11
Welcome Pip

Glad to have you and hopefully this information can help you and it can always at least help refine some previous ideas too.

Best of luck
Mike
Thanks Mike, I'm sure it will and actually already has.
  • #104,940
  • Dec 4, 2011 8:17pm Dec 4, 2011 8:17pm
Been awhile since I shared with you guys, here are some good pin bar set ups. for the upcoming week :-)
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