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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

  • #107,081
  • Feb 8, 2012 8:18pm Feb 8, 2012 8:18pm
Quoting mbqb11
This is VERY important! If anyone doesn't understand Money Mgmt, please PM me and I will dig up a good link on Forex Factory that diallist did

Best
Mike

edit*

here is the link
http://www.forexfactory.com/showthread.php?t=6948
Thanks for the link Mike, would'nt have come across this gem if not for you.

Btw, when you talk abt entering breakouts on multi-high bars, you use abt +10 pips above the highest bar (amongst the multi bars) for entry?
  • #107,082
  • Feb 8, 2012 8:49pm Feb 8, 2012 8:49pm
Hi all...

I'm new in here. Thank's for james16, mike, jarro, pinbar and another senior member.

I have been read all the important post and I very like with jarroo concept about HCR and LCS. It make me easier to understand this method.

Below is chart.
I want to know if my HCR drawed is right or not? if right so I can place buy limit at the HCR (show by arrow), is that right too?

Price has retested and execute the buy limit, but I think its not give a good momentum, price has closed below previous high. So it's better to close the position or let it still opened.

please anyone can give your comment... and sorry for my worse english...
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  • #107,083
  • Feb 8, 2012 8:58pm Feb 8, 2012 8:58pm
Quoting jarroo
No, I usually don't put my S/l above or below a given High quality setup, probably more in line with how James16 trades PA. Looking for that high momentum push.

Now I will place my stop above or below a Outsifde bar when I take a retracement entry, previous bar high or low . .does that count?

I will use the stop loss placement that ghous recommends on IPBs.
Anyone can tell me what IPB stands for? THks!
  • #107,084
  • Feb 8, 2012 9:02pm Feb 8, 2012 9:02pm
Quoting Fx7877
Thanks for the link Mike, would'nt have come across this gem if not for you.

Btw, when you talk abt entering breakouts on multi-high bars, you use abt +10 pips above the highest bar (amongst the multi bars) for entry?
Hey Fx

It depends on the pair what else is around, the timeframe etc. I would say 12-15 on the daily and maybe 15-20 on weekly as a rough rough estimate

Best
Mike
  • #107,085
  • Feb 8, 2012 10:40pm Feb 8, 2012 10:40pm
[quote=Fx7877;5368758]
Quote
Anyone can tell me what IPB stands for? THks!
IPB=inverted pin bar.
For more details, click on ghous name and read all his post about it.
Nothing personal,just business
  • #107,086
  • Feb 8, 2012 11:00pm Feb 8, 2012 11:00pm
Quoting 5.25
Nice! Let's not ignore the exotics.

Edit: No, I did not catch that Pin Bar
I was able to catch this weekly pinbar and closed my trade at 291.
  • #107,087
  • Feb 8, 2012 11:17pm Feb 8, 2012 11:17pm
Any thoughts on EURAUD?...Daily, weekly, monthly all in downtrend! looks like nice pin bar at a PPZ.
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  • #107,088
  • Edited Feb 9, 2012 1:06am Feb 8, 2012 11:19pm | Edited Feb 9, 2012 1:06am
Quoting gadogado
Hi all...

I'm new in here. Thank's for james16, mike, jarro, pinbar and another senior member.

I have been read all the important post and I very like with jarroo concept about HCR and LCS. It make me easier to understand this method.

Below is chart.
I want to know if my HCR drawed is right or not? if right so I can place buy limit at the HCR (show by arrow), is that right too?

Price has retested and execute the buy limit, but I think its not give a good momentum, price has closed below previous high. So it's better to close the position...

Yes, thats correct gado . .this video will help . .

Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #107,089
  • Feb 9, 2012 12:09am Feb 9, 2012 12:09am
Quoting 5.25
Nice! Let's not ignore the exotics.

Edit: No, I did not catch that Pin Bar

Great chart as always, T . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,090
  • Feb 9, 2012 12:20am Feb 9, 2012 12:20am
Wow .. 117 viewing . .is that right . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,091
  • Feb 9, 2012 1:19am Feb 9, 2012 1:19am
GBP/JPY is at an interesting area - confluence of 2 fibs, RN 122 and daily 150 EMA. However - is the blue shaded area what people refer to as a supply zone? The confluence area looks solid and it appears to have PBT&CA'd...

*EDIT* - Weekly double bottom adds weight to the story
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Anything can happen.
  • #107,092
  • Feb 9, 2012 1:38am Feb 9, 2012 1:38am
Quoting ddinnov
GBP/JPY is at an interesting area - confluence of 2 fibs, RN 122 and daily 150 EMA. However - is the blue shaded area what people refer to as a supply zone? The confluence area looks solid and it appears to have PBT&CA'd...

*EDIT* - Weekly double bottom adds weight to the story

Nice charts dd . .I like the 122.60ish level . .more open Space to the upside if we close above it on the Daily and/or Weekly..
The Yen crosses do love their multi bar Highs and Lows. .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,093
  • Feb 9, 2012 1:40am Feb 9, 2012 1:40am
Analysis Update

As expected, price tested the unconfirmed weekly resistance level (the weakness of my trade) and was rejected. Moreover, today's candle that shows the latest sentiment of the market participants toward support and resistance levels, closed below the weekly resistance of $1738.50. This weekly resistance is currently unconfirmed and it is vital for my trade outcome, price to confirm it. These facts increase my trade's success probabilities. However, new data revealed another weakness for my trade, the BUOC, which I will examine using PA criteria and compare it with my trade setup trigger, the BEOC.

BUOC Disadvantages:

- Location: not at swing low and at a "weak" confluence of minor daily support and trend line.

- Against the weekly trend.

- Unconfirmed weekly support levels below.

- Against the weekly controlling candle.

-Close below the strong confluence resistance levels.

Finally, price must prove the weaknesses of the BUOC by violating the low of the formation.
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  • #107,094
  • Feb 9, 2012 2:12am Feb 9, 2012 2:12am
Quoting jarroo
Great chart as always, T . .
Just learning the material here Jim, nothing else

T
  • #107,095
  • Edited 3:13am Feb 9, 2012 2:22am | Edited 3:13am
Quoting cprao
I was able to catch this weekly pinbar and closed my trade at 291.
Good catch! Nice R:R on that one

Looks like a nice weekly level at 287.35 to me.
  • #107,096
  • Feb 9, 2012 2:54am Feb 9, 2012 2:54am
Quoting beebolbod
Hey Pinbar.... we talked about this one last week and you were right my friend! Indeed back up to 4.5. We are now turning around and lets see where from here.
Good call m8.... i learn a lot from you.
Good story this one.... i spotted bearish divergence on daily and almost entered on a continuation pb.... wanted some feedback on it tho...

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Pinbar showed me some reasons not to and in the end the bar didn't break. Price did however get back up to a BRN (as predicted by Pinbar) and form a nice little pin which then did this.....

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An easy trade with good confluence.
  • #107,097
  • Feb 9, 2012 4:46am Feb 9, 2012 4:46am
yesterday my trade on USDJPY hit my stop loss. it was the first in many months.

i'm not surprised it done so. looking back at charts, i must say this wasn't a high probability trade. trade has been placed in a traffic area and there were not enought confluence. not a trade i usually pick. =/

it is strange for me to see one of my trades hit a stop loss for a loss. since now, i've almost always saw my trades going at least enought pips in profits so i could be able to move my stop to BE. this trade didnt allow me more than few pips in profits, so i had to manage it until my stop was reached.

i lost less than 1% on that trade (about 0.90%), but i knew it wasn't a great opportunity. however, when i took it i was very tired and i understand this may have influenced my decision. it was a trade i should have never picked.

i don't want this to happen again.

sometimes overconfidence can lead us to more risky trades. don't let this to happen! i hope i will keep up the good work done since now.
  • #107,098
  • Feb 9, 2012 6:52am Feb 9, 2012 6:52am
Hey Mike ,
how are you doing
I have two questions for you if you don't mind .

1. I am watching this chart and i think i see this rounding effect you often talk about . Am i close ?
Divergence also there .

2. Is this setup good enough , or pattern is too small for H4 view ? In terms of a breakout-pullback scenario (if happen) like drawn . I like particularly the 1.2500 major RN Bullish play .
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  • #107,099
  • Feb 9, 2012 6:53am Feb 9, 2012 6:53am
Quoting Fx7877
Anyone can tell me what IPB stands for? THks!
i think it actually stands for "inside pinbar! as coined by Ghous if i remember rightly??
its pretty much an IB (not always a strict requirement though) which has the shape of a pin bar....?


guy
PATIENCE... DISCIPLINE
  • #107,100
  • Feb 9, 2012 7:14am Feb 9, 2012 7:14am
Quoting jarroo
Yes, thats correct gado . .this video will help . .

http://www.youtube.com/watch?v=7j3uE...layer_embedded
1.3234 . . to the pip . .Bam!!

(sorry post and run)
Indicators show the past. Price Action "Indicates" the future.
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