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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

  • #106,481
  • Jan 28, 2012 4:31am Jan 28, 2012 4:31am
Quoting Rust
Hey man ,
You know , "there are hundreds of ways to make money from the markets, still so hard to find one"
If that works for you it is more than fine . It doesn't for me . In my book this is far from A+ .
If anything bounced the price it was not that pin bar . Here all we are searching for confluence factors , but this also means they have to be strong and valid, too ! Else makes our entries more aggressive. Just my view.

Have a nice weekend
Yeah, I agree with this post, it was 1st the location, 2nd the location, 3rd the location and last and the least, the PA, that made that puny PB work out.
  • #106,482
  • Jan 28, 2012 4:56am Jan 28, 2012 4:56am
at&t with a beob in a sideways market. can be good for a few bucks.
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meine augen sind die sterne
  • #106,483
  • Jan 28, 2012 7:06am Jan 28, 2012 7:06am
qcom with a nice pinbar.
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meine augen sind die sterne
  • #106,484
  • Jan 28, 2012 7:17am Jan 28, 2012 7:17am
Quoting aserbfx
dow jones
end of a rising market?
nice confluence...

Looks like you are on the ball with that one , we probably over due for another couple of years bear market.. So be tuned
v
  • #106,485
  • Jan 28, 2012 7:48am Jan 28, 2012 7:48am
Hi everyone !
I'm new to this forum and to forex and want to thank all of j16 group for all the wisdom

I've noticed some very promising pin bars (at least to me ), but they didn't work out as planned, so obviously I am missing something.

It seems to me that all of them are at swing high/low and have enough space. Also the form of the pin bars looks good to me.

Mike could you please (and of course everyone else) share some thoughts on these charts.

Thanks in advance!!!

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  • #106,486
  • Edited 11:25am Jan 28, 2012 9:38am | Edited 11:25am
Quoting Variance
Mike, Jaroo, Pinbar,

Could you guys give me a quick critique on the USDCAD daily (as attahed?)

Many thanks in advance!

Variance
Hey Variance . .I agree with Mike and Pinbar about what this setup was trading into . .the 1.0 and previous Resistance which is now Support, etc. The 1.0 was an easy target that this setup reached.

But wow. .does this have a great story at the 1.0075 level . . many confluences at this level . . Previous Support, BEOB, 150 & 365 ema confluences, trendline/ wedge formation.

If Price comes back to this 1.0075 level . .bearish PA or a TT would be what I would be looking for . .big time . .. However, Price may not come back and continue to its wedge formation target at the .9900ish level.



I like the way you think . .many reasons to enter.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #106,487
  • Edited 10:02am Jan 28, 2012 9:50am | Edited 10:02am
Quoting Pinbar
NZD/USD H1 close above but we may see this next bar turn into a BEOB.
Did I say Weekly HCR ? I meant to say Daily HCR level . . .just kidding Pinbar . .lol .. let me get some charts together . .

Looks like Price hit its target if you place a TT short at the .8202/.8206 . . . . nice.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,488
  • Jan 28, 2012 10:19am Jan 28, 2012 10:19am
Quoting Variance
Hi Mike,

Really enjoy reading your post as usual.

I was scanning through some charts today and stumbled upon a pattern that I could ALMOST put it in the same class/logical type as standard J16 pitbulls - please see the attached charts, especially the natural gas weekly futures.

Would you classify that Buob as a CHF/USD Weekly pitbull pin that we got from last year? It just seems to be like it has the exact same price action structurally - when I consider the two candle setup as just a normal pin if we had a different view like a two-week...
Hey V

I made a post about natty gas over here from the daily

http://www.forexfactory.com/showthre...56#post5326856

This was a fine play on the daily. Now for the weekly we closed much lower on my feed. I think your feed closed a bit early. Not positive but based on my chart we can see clearly the lack of strength on the close. As long as we stay above 2.5 I think longs are still very much in play but based on the bar on my chart I would not be buying long. A strong close would be a fine play long with the 2.5 at our back for trade mgmt(like the daily trade).

I would not put it in the same category of the xxx/chf pinbars(see chart). Notice just the extreme size difference on the chf. Visually very different. But the level on natty gas is a FANTASTIC one

Best
Mike
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  • #106,489
  • Jan 28, 2012 10:27am Jan 28, 2012 10:27am
Quoting login761
Hi everyone !
I'm new to this forum and to forex and want to thank all of j16 group for all the wisdom

I've noticed some very promising pin bars (at least to me ), but they didn't work out as planned, so obviously I am missing something.

It seems to me that all of them are at swing high/low and have enough space. Also the form of the pin bars looks good to me.

Mike could you please (and of course everyone else) share some thoughts on these charts.

Thanks in advance!!!

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Hey Login

Welcome to the thread login we are glad to have you.

Here would be my view on the following charts.

Basically all those bars are the same thing. They all have USD in the them. They all look the same. And thus my analysis is the same for them all. So I am posting the usd/chf but you can extrapolate that analysis to all of them. The issue here is these are the ones that get new price action traders. They see pinbar at a swing point and assume it's time to trade. That's ok, in fact that is where you should be if you are new. But in reality here we want to think about the bar in relationship to what is going on.

My run down is on the chart

Again welcome and hope it helps

Mike
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  • #106,490
  • Jan 28, 2012 10:34am Jan 28, 2012 10:34am
Quoting jarroo
Hey Variance . .I agree with Mike and Pinbar about what this setup was trading into . .the 1.0 and previous Resistance with is now Support, etc. The 1.0 was an easy target that this setup reached.

But wow. .does this have a great story at the 1.0075 level . . many confluences at this level . .BEOB, 150 & 365 ema confluences, trendline/ wedge formation.

If Price comes back to this 1.0075 level . .bearish PA or a TT would be what I would be looking for . .big time . .. However, Price may not come back and continue to its wedge formation...
great post Jim

This is so important to understand the context of all the concepts within how you are going to potentially attack a situation. Notice how Jim here is already plotting how his methods best fit into the story. Without this you are shooting from the hip.

As always Jarroo kills it

Mike
  • #106,491
  • Edited 11:01am Jan 28, 2012 10:41am | Edited 11:01am
Quoting mbqb11
great post Jim

This is so important to understand the context of all the concepts within how you are going to potentially attack a situation. Notice how Jim here is already plotting how his methods best fit into the story. Without this you are shooting from the hip.

As always Jarroo kills it

Mike
Thanks Mike . . I love your latest rant . .everyone should "Search this Thread" with "Mike" and/or "James16" & "rant" and read everyone of them. . .


"extrapolate" where did that word come from . . lol just kidding, Mike.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #106,492
  • Jan 28, 2012 11:01am Jan 28, 2012 11:01am
Quoting Pinbar
Hey M

Did not like how it struggled, took half off the table at the bar high and moved to BE. Got stopped out at Be but, this thing now made a daily close above.

Quoting Pinbar
NZD/USD is behaving rather unpredictably, and this is causing me to search the reasons for this.

It appears that the DHCR in the swing high is what is stalling price. That said, it is not stalling it enough to make price do a U-turn and take a dive.

So, we are in limbo, till price makes up its mind as to which way it wants to go and tips its hand.

This limbo state is the killer.

Ok, I am starting to get frustrated with this, but thinking about it, the only logical approach to the situation is to take a breakout and pullback of the consolidation...

This is great Pinbar, I like how you keep things tight on the Hourly. Instead of going back and forth, its best to just step back and either wait for presentable PA, the next Daily Close or just do nothing and give it a pass.

I like how you're looking at consolidation builds at this level. .excellent . . . not only that, but other Price Pattern formations can be implimented at these levels.

This is why what Mike teaches us is so valuable. I know Mike prefers this Price Patterns formation at BRNs , but they can be used at these Deep Swing Points and be just as effective.

As Mike would say, understanding the Story of Price can not only give you an edge on where is Price going but how we can enter and exit a given trade.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,493
  • Jan 28, 2012 11:13am Jan 28, 2012 11:13am
Quoting Greenhaze
EU is going down becouse of obvious reasons hence market is selling off. Near the bootom everybody knows that europe is in danger and media shouts about the S&P downgrades and all the stuff. The smart money are liquidating their positions to retail traders who are thinking that price must come down becouse fundamentals are bad and all. Price starts to go higher. Brokers inventory and smart money is shifting to the long side but retail players are still willing to sell becouse price is high (they perceive it as an opportunity) and fundamentals are...
Wow, GH . .nice post . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,494
  • Jan 28, 2012 11:22am Jan 28, 2012 11:22am
Jim,

You have no idea how much you guys have inspired me. I finallly had to come out of the closet and start contributing after all that I've been given by J16.

V



I'm feeling a burning evangelical sensation to rant a sales pitch for J16 but I'm fearing that I'd ben taken as a shill so I refrain lol

OK, I've nearly written an essay that I've just deleted.... I'm going to hold the excitement for a while longer...

I WILL say - YOU GUYS ARE THE BEST. PERIOD.
  • #106,495
  • Edited 11:46am Jan 28, 2012 11:29am | Edited 11:46am
Quoting Variance
Jim,

You have no idea how much you guys have inspired me. I finallly had to come out of the closet and start contributing after all that I've been given by J16.

V



I'm feeling a burning evangelical sensation to rant a sales pitch for J16 but I'm fearing that I'd ben taken as a shill so I refrain lol

OK, I've nearly written an essay that I've just deleted.... I'm going to hold the excitement for a while longer...

I WILL say - YOU GUYS ARE THE BEST. PERIOD.
Looks like you're doing great, V. . .throw up a chart or two every now and then, sounds good . . . .like I said, I like the way you think . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,496
  • Jan 28, 2012 11:31am Jan 28, 2012 11:31am
Thanks a lot Mike!


What you're saying makes sense. It's just that I saw these bars and was convinced that they were perfect
So basically if I understood corectly the location is goog, but the bar size is not so good compared with the other bars.

Obviously I am still far from the truth.

Thanks again Mike for the prompt answer
  • #106,497
  • Edited 12:51pm Jan 28, 2012 11:43am | Edited 12:51pm
Quoting trc
Hi,
I'm posting my current trade and I would like some comments from you guys.
I will be still on demo for the next 3 months because I also did some stupid things this week

Regards,
Peter


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Hey trc . .here's how I see your setup on the UsdTry (chart). .nice . . .very similiar to the current UsdCad. ( James16 would love this setup).


The long term EMAs (150 & 365) are mainly used as a confluence tool with PPZ levels, Support Levels and Resistance Levels. They tend to add strength to the level.

They can also be used as a target for a setup, I know James16 uses them as setup target, along with Daily Highs and Lows.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,498
  • Jan 28, 2012 11:48am Jan 28, 2012 11:48am
Quoting Bryan
Our January bar will be a higher low from January a year ago. Nine more days may form a monthly bullish "pinish" bar. I think it's worth trading.

She's right on schedule. Nice pin bar forming. Target?, hmmmm, let's say 4400
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  • #106,499
  • Jan 28, 2012 11:51am Jan 28, 2012 11:51am
Quoting jarroo
Looks like you're doing great, V. . .throw up a chart or two every now and then, sounds good . . . .like I said, I like the way you think . .
Thanks Jim,

I accept your invitation with pleasure

V
  • #106,500
  • Jan 28, 2012 12:03pm Jan 28, 2012 12:03pm
Quoting Bryan
She's right on schedule. Nice pin bar forming. Target?, hmmmm, let's say 4400

Hey Bryan . .I would put the 1st target at the 1st previous bar Low. It may reach the top of the consolidation. If it breaks this conslidation it could reach the moon.

But the size of the PB is not that great, it could reach the 1st target and continue downward. Or not even break and go down . .
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Indicators show the past. Price Action "Indicates" the future.
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