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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

  • #107,501
  • Feb 16, 2012 10:27am Feb 16, 2012 10:27am
Quoting mbqb11
Hey stew

Deans post is actually spot on for J16. It's about understanding the bars and their locations. Check out the recent posts from Jim. This is not scalping but trading a timeframe relative to what is going on. The reason we recommend to start on the higher timeframes is to build a proper foundation while getting the basics down. Not to mention james often calls his style day trading the daily timeframe. Same could be send for any timeframe. Deans post is actually a very good example of what Jim shows

Best
Mike
Ok I obviously missed that - think I'll go and kick the dog now
  • #107,502
  • Feb 16, 2012 10:28am Feb 16, 2012 10:28am
Quoting mbqb11
Hey stew

Deans post is actually spot on for J16. It's about understanding the bars and their locations. Check out the recent posts from Jim. This is not scalping but trading a timeframe relative to what is going on. The reason we recommend to start on the higher timeframes is to build a proper foundation while getting the basics down. Not to mention james often calls his style day trading the daily timeframe. Same could be send for any timeframe. Deans post is actually a very good example of what Jim shows

Best
Mike
To further expand

This is James16 at its best really

Here is a further breakdown


Timeframe doesn't matter, but timeframes matter when starting out. Most jump to the 5min and just trade themselves to death.

This is a spot on example from Dean, that can teach a ton. Thanks for sharing D

Best
Mike
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  • #107,503
  • Edited 10:45am Feb 16, 2012 10:29am | Edited 10:45am
Quoting stewrigh
Ok I obviously missed that - think I'll go and kick the dog now
it's a great learning example. This thread is huge, it goes quick. So always good reminders


As well it is ALWAYS important we remind the new folks to stick to the james16 minimum requirements. And we reinforce the basics. This is my number one priority with this thread. This is why we try to show very straight forward clean areas, as well as bars. Because too many new people come here, see what a pinbar is and then try to trade them all over the place from tick charts and up. It's important to have that foundation laid. Because of the size of this thread often many of us like to help and share a wide range of our views on how we put it together.



Best
Mike
  • #107,504
  • Feb 16, 2012 10:33am Feb 16, 2012 10:33am
Quoting stewrigh
Which part of J16 is this exactly - coz it's not something I recognise.

For a start I thought we should be looking at the higher timeframes and A+ trades. Looking at the daily it's certainly not an A+ setup.

Have we moved to scalping the H4 now? Did I miss something?

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Its a BIG thread, if you can try read it all!

J16 goes on and on about playing ranges in his teachings and vids and how easy they are when presented with price action.

Was you also the guy that said not to go long on usdjpy if i remember correctly because some sort of macd or divergence or something.
When it was a nice Jarroo style setup and im healthy in profit also

like i said but of practice and patience and you will see the obvious, i been in this thread for very long time and it will come to you.

H4 is not scalping, its using an entry going down from daily, keep up
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  • #107,505
  • Feb 16, 2012 10:37am Feb 16, 2012 10:37am
Quoting mbqb11
it's a great learning example. This thread is huge, it goes quick. So always good reminders


As well it is ALWAYS important we remind the new folks to stick to the james16 minimum requirements. And we reinforce the basics. This is my number one priority with this thread.



Best
Mike
Yep, looks like the J16 method has moved on a lot. I still prefer the original version so think I'll stick with that. GL anyway.
  • #107,506
  • Feb 16, 2012 10:40am Feb 16, 2012 10:40am
Quoting stewrigh
Which part of J16 is this exactly - coz it's not something I recognise.

For a start I thought we should be looking at the higher timeframes and A+ trades. Looking at the daily it's certainly not an A+ setup.

Have we moved to scalping the H4 now? Did I miss something?

Attachment
The man himself posted a 5m chart not so long ago.

You raise a good point actually. I've seen setups posted from James16 recently which Jaroo mentioned at the time as being a little crowded for some people so by your definition above, not A+ setups at all. They did however work. After all, the big man posted 'em so they would. He knows what he's doing.

So i see 5m stuff being posted and Jaroo PBT setups too - all great stuff which personally i lap up and cant get enough of PROVIDING it's combined with the basics of what we learn here.

As i see it, we have varying levels of competence on here and from my perspective (somewhere between BE and TP1) i want more than just the first page of this thread. I want to be reminded of the power of the first page whilst being shown some of the advanced stuff that perhaps would only be shown in the PF if it weren't for Mike, Jim, Jim et al giving it away for free.

So seeing range trades from 4H BUOBs and TT's from PPZ areas (for me) is PERFECT. It shows how we can succeed with a well equipped arsenal.

the danger lies in people trying to run before they can walk. I've suffered (and still do) at the hands of taking marginal trades.

When that happens i go back to page 1.
  • #107,507
  • Feb 16, 2012 10:40am Feb 16, 2012 10:40am
Quoting stewrigh
Yep, looks like the J16 method has moved on a lot. I still prefer the original version so think I'll stick with that. GL anyway.
Hey Stew

Sorry I may be saying something confusing. This is the original method. It's the same concepts james has always taught.

It's just most people avoid trading in consolidation because they don't understand the effects it has. Most just buy or sell cause they see a bar instead of understand the role that bar plays in the location it is located(this is the key)


James always says and recently said once you can trade in a sideways market their is little to stop you.

http://www.forexfactory.com/attachme...0&d=1328855304


Best
Mike
  • #107,508
  • Feb 16, 2012 10:46am Feb 16, 2012 10:46am
Quoting stewrigh
Yep, looks like the J16 method has moved on a lot. I still prefer the original version so think I'll stick with that. GL anyway.
that is the orignial method, one of his first ever videos taught me that play i took. It one of the most basic J16 trades ive had in a while.

Im just trying to share what ive experienced and that was quite clear price action according to J16
  • #107,509
  • Feb 16, 2012 11:00am Feb 16, 2012 11:00am
anyway, now we got that cleared up, thanks to Mike whos much better at clearing things out than i am thank you.

BAck to this usdjpy trade i looked at yesterday, was hoping for the PBT and CA on the daily, which happened, even better it was a nice strong close above. Check chart 1

chart 2, is 4 hr my entry, i never go less than 4hr, one thing i can tell ppl is i tried less and got much less profits and profability, so i only do daily, and 4hr only for entry, anyway, we get the nice pinbar/hammer, which actually didnt break up so i never entered there, but straight after we got a BUOB which wiped the pin completely, so this was my heads up to get in now. Stops all in profit now on this one, and another completely stress free trade.

this is basi j16 price action along with JArroo teachings of breaks and holds above below/above etc, and this one was pretty straight forward.

I noticed people started posting all sorts of indicators saying not to enter, like rsi, divergence macd or whatever, Since i become profitable at forex i can confirm i no longer use any of them, they just get in the way for me, the money is all in the price action thats all u need.
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  • #107,510
  • Feb 16, 2012 11:09am Feb 16, 2012 11:09am
Quoting mbqb11
updated chart

Any surprises here? Shouldn't be. we know where price is going and we know this is a small bar vs the trend
Hi Mike,

I know this maybe a really subjective issue, but how do one gauge the size of the "correct" bar relative to the trend?

Caesar
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #107,511
  • Feb 16, 2012 11:11am Feb 16, 2012 11:11am
Quoting Caesar95
Hi Mike,

I know this maybe a really subjective issue, but how do one gauge the size of the "correct" bar relative to the trend?

Caesar
Hey Caesar

For me it's really just a visual thing. I know some people like to measure the bar vs X amount of previous bars. I find it easier to just look at it. The most common issues I think I see people have is that they zoom in their charts to much and it gives a bit of a skewed view on the true strength of a bar.

So in the case of the cad/jpy we can see the previous bar was a VERY big quadruple bar low higher close. And the pin was much smaller. So we are fighting up stream in this case and the first trouble areas become CRUCIAL.

Let me know if that makes sense
Mike
  • #107,512
  • Feb 16, 2012 11:23am Feb 16, 2012 11:23am
Quoting deankenny21
anyway, now we got that cleared up, thanks to Mike whos much better at clearing things out than i am thank you.

BAck to this usdjpy trade i looked at yesterday, was hoping for the PBT and CA on the daily, which happened, even better it was a nice strong close above. Check chart 1

chart 2, is 4 hr my entry, i never go less than 4hr, one thing i can tell ppl is i tried less and got much less profits and profability, so i only do daily, and 4hr only for entry, anyway, we get the nice pinbar/hammer, which actually didnt break up so i never entered...
glad to see how correlates our point of views GT Dean.
all is eternal - this is good news for people who loves bad news
  • #107,513
  • Feb 16, 2012 11:44am Feb 16, 2012 11:44am
Hey folks

Dont post much but as you were on the point of trading ranges I fancy this 8hr PB providing it has a strong bearish close

The thing I like about this pair is once it breaks you can still put your order back at the Demand/Supply level and it has a good chance to trigger (using J16 PA as the original play , but a TT as the entry)


Plan is to watch it for a bit, then hit the sack, and then catch the end of the Asian session an maybe put on a sell limit around the 1.4570

Also, similar play on the E-Gbp but buying

Cheers

Anthony
  • #107,514
  • Feb 16, 2012 11:51am Feb 16, 2012 11:51am
I am happy to see market has heard my tiny voice yesterday and all those JPY pinbars turned into nice BUOBs at pretty good location today... So hope yen is buying stairway to heaven
all is eternal - this is good news for people who loves bad news
  • #107,515
  • Feb 16, 2012 1:29pm Feb 16, 2012 1:29pm
Quoting mbqb11
To further expand

This is James16 at its best really

Here is a further breakdown


Timeframe doesn't matter, but timeframes matter when starting out. Most jump to the 5min and just trade themselves to death.

This is a spot on example from Dean, that can teach a ton. Thanks for sharing D

Best
Mike
Close on this one Mike. Managed a little to tight and got stopped out for a small gain.
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  • #107,516
  • Feb 16, 2012 1:37pm Feb 16, 2012 1:37pm
Quoting slade1986
Close on this one Mike. Managed a little to tight and got stopped out for a small gain.
a profits a profit

oh my im over 100 pips in the positive here, i was expecting a reaction at the top of the range and maybe pull out for +70 pips or so, but it just burst through, march soldiers march!!!
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  • #107,517
  • Feb 16, 2012 1:40pm Feb 16, 2012 1:40pm
Quoting fxkaka
Thanks brother. Yes I missed the very first target too and I think reason was that my levels were a little bit off. They should be 78.220/78.163 but I think when I click on chart to select some thing some time levels get moved. is there a way or indicator that i set price on indicator or script and it draw the levels. Or does anybody know about some script which can read from spread-sheet so that i can put level on spread-sheet and my charts are updated.?
Quoting fxkaka
It is still 30 min. left to close the daily candle. If it is closed above the level then I will look for buy setup at 78.24 - 78.18 area.

Your levels were great KayKay!! . . That 78.18 level would have got you in to the pip! with no draw down . . . . no Hourly or 4 Hour bar closed below . .awesome KayKay.
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Indicators show the past. Price Action "Indicates" the future.
  • #107,518
  • Edited 5:02pm Feb 16, 2012 1:43pm | Edited 5:02pm
Quoting Rust
This is interesting . GBP is showing some strength all across the board and this pair i was watching closely before that .
The 1.5660 area turned to be very resistant. A bunch of confluence there - PPZ , 150 and 365 emas , 38.2% fib retracement , multiple bar lows ! Then this huge huge BUOB happened engulfing a lot of bars and closed above a trendline (even if it's not the best one) and more important above our previous PPZ which i find major. Only thing that stopped me from pull a full position here was that the close is lower than 1.5750 which...
Getting late . Stop to BE and going to drink a beer with a friend.

I am pretty ok with and expecting a BE exit , but if we close above the FTA (blue line) it may act as support and protect my close stop . And may turn into a little , but nice profit trade
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  • #107,519
  • Feb 16, 2012 1:49pm Feb 16, 2012 1:49pm
Quoting 5.25
Hi Kaka

For me the FTA is too close. I much prefer the situation on the NZDJPY, a little more room to run at 64.80 IMHO. Given the monster move to the upside, I won't be hanging in this trade for long.

Just my view
Greattt charts, T . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,520
  • Feb 16, 2012 1:51pm Feb 16, 2012 1:51pm
Quoting meshka
Because I am long on USDJPY and GBPJPY I am declaring that these CADJPY AUDJPY and other bearish pins are FAKE

And now I am reeady too sleep peacefully
I wouldn't say they were "fake", just very very weak . .
Indicators show the past. Price Action "Indicates" the future.
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