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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

  • #107,241
  • Feb 11, 2012 5:04am Feb 11, 2012 5:04am
Some nice confluence on this - 100MA 50 fib TL.

K.I.S.S.

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  • #107,242
  • Feb 11, 2012 5:06am Feb 11, 2012 5:06am
Quoting stewrigh
Hi Alex,

You could trade this but IMHO I would look for another pair - the risk reward is lousy and it's stuck in a box(consolidation).

It could go either way - so 50/50 IMO. Certainly not an A+ trade which is what we should be looking for (JMHO)

K.I.S.S.

ps - stop apologising for your English - it's fine.

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stewrigh thank you for the advice. In the next week I want to watch the Usd / Jpy. In front of a good level of. What do you think?
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It's only after we've lost everything that we're free to do anything.
  • #107,243
  • Feb 11, 2012 5:18am Feb 11, 2012 5:18am
Quoting Alexandr51
stewrigh thank you for the advice. In the next week I want to watch the Usd / Jpy. In front of a good level of. What do you think?
You like to pick the hard ones don't you Alex

It's also stuck in a box but if I got a pinbar at resistance I might be tempted - trend is down but the fundamentals are long biased - ppl are buying the dollar ATM bcos they are worried about war in ME(JMO).

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  • #107,244
  • Feb 11, 2012 5:34am Feb 11, 2012 5:34am
Quoting stewrigh
You like to pick the hard ones don't you Alex

It's also stuck in a box but if I got a pinbar at resistance I might be tempted - trend is down but the fundamentals are long biased - ppl are buying the dollar ATM bcos they are worried about war in ME(JMO).

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Thank you for the fact that the situation was explained
I'll go look for better setups(A++)
It's only after we've lost everything that we're free to do anything.
  • #107,245
  • Feb 11, 2012 9:03am Feb 11, 2012 9:03am
german pfv formed a pinbar with a loooong nose.
volume shows entry of sellers. a short below 80 eur could do the trick.
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meine augen sind die sterne
  • #107,246
  • Feb 11, 2012 9:23am Feb 11, 2012 9:23am
Quoting 5.25
Double bottom weekly and daily level... Will it hold as resistance?
Yes.

Partial profits off the table (as it was a friday entry), ultimate target highs of the consolidation area.
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  • #107,247
  • Feb 11, 2012 9:26am Feb 11, 2012 9:26am
Quoting aserbfx
german pfv formed a pinbar with a loooong nose.
volume shows entry of sellers. a short below 80 eur could do the trick.
Quoting aserbfx
rsi >80 and
heikin ashi M5 and M15 same color and
macd and rsi same direction and
SMA 15 crossing SMA 50 and and and
rsi >80... check
heikin ashi M5 and M15 same colour... check
macd and rsi same direction... check
SMA 15 crossing SMA 50... check

and and and... check, check, check...

Looks good to me (IMO)
  • #107,248
  • Feb 11, 2012 11:30am Feb 11, 2012 11:30am
gild
small pinbar in comparison to the recent major uptrend.
interesting location.
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meine augen sind die sterne
  • #107,249
  • Feb 11, 2012 11:39am Feb 11, 2012 11:39am
+Good close, shape, no traffic to the left, at swing low.
- Weak size that seems a profit taking candle rather than a reversal one.
- Monthly and weekly trend bullish.
+Direct trend is in sync (Bearish) (provided that a Sell Stop order pending below the Shooting Star low is filled)
- There is a weekly support direct ahead at 1.0608 that will challenge us on trade management.
- It was formed at a level with weak confluence of resistance levels. The trend line and the mid-big round number.
+Large bearish wedge.

Based on my analysis, the weekly shooting star is not tradeable.
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  • #107,250
  • Feb 11, 2012 11:52am Feb 11, 2012 11:52am
open with a nice beob at a swing high after a big downtrend.
high volume as a starting point for a sellers coming in.
30 usd as a good target.
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meine augen sind die sterne
  • #107,251
  • Feb 11, 2012 6:57pm Feb 11, 2012 6:57pm
Quoting jarroo
I like the story you got there gado, on the Mothnly LCS level (my feed is little different).

I like your S/L placement. What you can do is have your 2% in that S/L placement, but if a Daily or even a Weekly bar closes below that entry level . .you can get out with a much smaller lose , percentage-wise.

Also you could wait for some good PA on a lower TF, like the Daily, and use the PA S/L placements .
Thank's a lot jarroo. It like james16 max. risk percentage, mustn't risk more than 2% of the account.

Also for the Stop Loss, it give me another option to manage my Stop Loss.
  • #107,252
  • Feb 11, 2012 11:07pm Feb 11, 2012 11:07pm
Quoting gadogado
Thank's a lot jarroo. It like james16 max. risk percentage, mustn't risk more than 2% of the account.

Also for the Stop Loss, it give me another option to manage my Stop Loss.
gadogado is great.
what about mie bakso, martabak telor or soto ayam?!
meine augen sind die sterne
  • #107,253
  • Feb 11, 2012 11:53pm Feb 11, 2012 11:53pm
Quoting aserbfx
open with a nice beob at a swing high after a big downtrend.
high volume as a starting point for a sellers coming in.
30 usd as a good target.
Nice Charts. I am wondering how can you trade equities where there is always a possibility of a gap after a good PA setup??? Also what if the after market will alter the shape of a PA setup???
  • #107,254
  • Feb 12, 2012 1:21am Feb 12, 2012 1:21am
+ Good shape and size. There is traffic to the left BUT the strong close above traffic and parity as well as the violation of the BEOC (2-2-12) high eliminate this negative element
+ Monthly at a range BUT after an uptrend. The range is above parity and the two day BUOC closed above the MTDL
+ Weekly at a range BUT after an uptrend. The range is above parity and the two day BUOC closed the WTDL
+ Direct trend is in sync (bullish) (provided that a buy stop order pending above the two day BUOC is filled)
+ There is NO internal unconfirmed weekly resistance but we must pay attention to the parity level that is acting as psychological support where price must confirmed it
+ The two day BUOC was formed at confluence of support levels. (0.9931 CNF WS, WTDL, MTDL and parity
+ The FCL identified at 1.0100 which is satisfactory to manage the trade
Based on the above the two day BUOC is tradeable.

I will place a buy stop 12 pips above the high of the 2 day BUOC, SL at the low and take full profit at the 1.0100. Risk less than 2%.
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  • #107,255
  • Feb 12, 2012 1:31am Feb 12, 2012 1:31am
Quoting aserbfx
gadogado is great.
what about mie bakso, martabak telor or soto ayam?!
Hi aserbfx,

Wow, you know a lot of Indonesian food. I'm very surprising because martabak telor and soto ayam is not very popular in foreign. How do you them ?
  • #107,256
  • Feb 12, 2012 3:18am Feb 12, 2012 3:18am
Quoting gadogado
Hi aserbfx,

Wow, you know a lot of Indonesian food. I'm very surprising because martabak telor and soto ayam is not very popular in foreign. How do you them ?
from trip to java, bali and lombok ... some years ago....
was great!
meine augen sind die sterne
  • #107,257
  • Feb 12, 2012 3:42am Feb 12, 2012 3:42am
Quoting gadogado
PBTCB Monthly LCS in Weekly, but fail to act as Resistance and Close Above agian, Now I looking to buy at LCS because I think it will have a chance to turn into Suport again.

My target is in green line.

Is my setup in this pair already correct, jarroo?

My other question is about the Stop Loss :
I’m going to place my Stop Loss below the bar that close above and cause a huge pips. Is there anyway to reduce the Stop loss place?
My take on UC.

Look at the latest few daily bars... BEEB, 4xDIB's then a BUOB. Why make things difficult for ourselves - K.I.S.S........It's stuck in a box, wait for it to show us a direction...eventually it will breakout and when it does our risk reward will improve dramatically and we will have some momentum.

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  • #107,258
  • Feb 12, 2012 3:51am Feb 12, 2012 3:51am
Quoting stewrigh
My take on UC.

Look at the latest few daily bars... BEEB, 4xDIB's then a BUOB. Why make things difficult for ourselves - K.I.S.S........It's stuck in a box, wait for it to show us a direction...eventually it will breakout and when it does our risk reward will improve dramatically and we will have some momentum.

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As an aside can I ask why and when all this PBT, CA, CB started. I seem to remember from page 1 that James advocates waiting for, and only trading the A+ trades.

Maybe it's just me but I just can't see any A+ trades when I try with the new PBT method
  • #107,259
  • Feb 12, 2012 5:45am Feb 12, 2012 5:45am
Quoting aserbfx
gild
small pinbar in comparison to the recent major uptrend.
interesting location.
i would trade it if i could.
  • #107,260
  • Feb 12, 2012 5:48am Feb 12, 2012 5:48am
Quoting stewrigh
As an aside can I ask why and when all this PBT, CA, CB started. I seem to remember from page 1 that James advocates waiting for, and only trading the A+ trades.

Maybe it's just me but I just can't see any A+ trades when I try with the new PBT method
Hey Stew how are you bud


This is something Jarroo introduced on how he personally pinpoints trade areas. It is certainly not the traditional James16 although a direct variation of what the same concepts are.

I am reminded of this and since you brought it up this quote is perfect time to be reinstated. As well as those that are just stumbling on to this thread please please start from post 1

so those of you that are new this is why we try to be diligent that the basics and the core of what you should be learning is the basic material first.


Good time to remind the new traders and keep them focused

Mike

Quoting james16

IMPORTANT NOTE FOR THOSE NEW TO THE THREAD ON VARIATIONS TO THE ORIGINAL BASIC MATERIAL. 2/15/10

I see there is a debate about this. ive asked several people opinions and this was mikes.

" I think there is just no way to keep things "clean" in a huge public thread like yours. So you are going to have everyone's different viewpoints/methods all at the same time. Since they are all based off the same concepts I don't have anything wrong with it, we just have to be diligent in reminding the newbies the proper precautions and steps to take."

I agree with mike but im concerned nontheless.

We all know the basic material can truly help new people find some early success and we all know how critical that phase is.

I have zero problems with variations based off of the basic material but we must always make sure that new people understand what is best for them early on.

To do that I need the variation people to openly be willing to tell new people that demoing there variation is fine but they should concentrate on the basic material.

Obviously what we do here is simple but I DO NOT want new people coming out of the gate taking blind touch trades THINKING THAT IS WHAT THE THREAD WAS DESIGNED TO TEACH. NO NO NO.

You touch traders etc have fun and do your thing but help me keep the new people out of trouble.

I will put this in post 1 for reference.
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