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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

  • #108,161
  • Feb 28, 2012 4:25pm Feb 28, 2012 4:25pm
Quoting Chanya
Hi Jarroo , Can You Plz have a look at GBP USD ??? It's daily just closed exactly under the round number 1.59 and the PPZ area !!! What can you say abt this pair ???
Hi Chanya, I'm no Jarroo, but I'd like to see price break through and close above 1.59118 on the daily, then a retest as support. For me, it's still holding as resistance until proven otherwise.

Let's see what Jarroo has to say...
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  • #108,162
  • Feb 28, 2012 4:35pm Feb 28, 2012 4:35pm
Quoting 5.25
Hi Chanya, I'm no Jarroo, but I'd like to see price break through and close above 1.59118 on the daily, then a retest as support. For me, it's still holding as resistance until proven otherwise.

Let's see what Jarroo has to say...
Ditto . .
Indicators show the past. Price Action "Indicates" the future.
  • #108,163
  • Feb 28, 2012 4:38pm Feb 28, 2012 4:38pm
Quoting Chanya
I was also asking from a bearish mindset and was thinking that If any strong bearish PA would form on lower TF like H4 , I would like to take those !!! Thank you !!!

Price can't Close above the top of consolidation (Resistance) so bearish PA at this level is very valid to take .. imo . .
Indicators show the past. Price Action "Indicates" the future.
  • #108,164
  • Feb 28, 2012 4:44pm Feb 28, 2012 4:44pm
My view on cable is pretty much the same as the others, the close was too weak, easy reason to pass here, if it couldve at least closed aroun 5915 then id be looking for some entries to go long.

Thing about it this way,

if i go long now, then im joining the battle as a bull with the battle still going on, odds r even could go either way BUT if price had cleared resistence comfortably and closed above, then i join the battle on the winning team, now the odds are more stacked in my favour now
  • #108,165
  • Feb 28, 2012 5:18pm Feb 28, 2012 5:18pm
Jarro,

I was wondering if you could give me and the others who maybe interested a brief explanation of the method that you have adopted or direct me to a previous post which may explain your methodology. It would be very much appreciated.

Regards
bud_fox
Quoting bud_fox
Hi All,

Been studying James16 material for a few years now, on demo of course. I have been more of an observer on this forum up until now but would like to post a possible touch trade on EURAUD Daily TF (james16 style).

This is solely based on S&R with no PA confirmation. Price has just broken through a BRN & PPZ at 1.2500. I would now be expecting price to retrace and retest the 1.2500 area, which should act as support before continuing up towards 1.3000 and the 150 ema.

Great confluence with BRN, PPZ, Trend Line & Divergence and great...
  • #108,166
  • Feb 28, 2012 7:27pm Feb 28, 2012 7:27pm
Good spot on GOLD for watching...
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all is eternal - this is good news for people who loves bad news
  • #108,167
  • Feb 28, 2012 7:52pm Feb 28, 2012 7:52pm
Quoting jarroo
That's a great level, Pinbar . .Looks good on the Weekly . . very valid pinish looking BEOB on the 4 hour at this level . .
Sorry Jim, missed this post.

It seems the situation is changing a little and the Monthly level could now act as support for a break of that weekly level. Monthly line brown, weekly level green.

It is interesting to watch this and I can learn a lot from it.

The BEOB+ PB Hybrid was a nice setup.
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  • #108,168
  • Edited Feb 29, 2012 1:10am Feb 28, 2012 8:41pm | Edited Feb 29, 2012 1:10am
This minor weekly SH looks interesting, especially as we just broke out of the box to go up and test this area.

EDIT: False breakout, for the time being.
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  • #108,169
  • Feb 28, 2012 8:48pm Feb 28, 2012 8:48pm
Quoting jarroo
Price can't Close above the top of consolidation (Resistance) so bearish PA at this level is very valid to take .. imo . .
Agreed since there is a pretty heavy resistance line 30 pips up. If anything, I believe that it will be rejected from here, whether it breaks resistance or not, so I am actually waiting for bearish PA.

What would register as a break of resistance? Close above? 10 pips up? Some %? Cause this just pushed through the temporary top @ 1.5929. 3 pips above, currently. New high, YAY!

Edit: Cause I can't spell for crap.
Currency is a joke. And that's precisely why I trade it.
  • #108,170
  • Feb 29, 2012 2:14am Feb 29, 2012 2:14am
Quoting jarroo
Look like we were both right on the USD index, Sniffer . ..

I just told the story a little differently . .
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Hi Jim,
in such situation ( the arrows in your picture) do you usualy enter on touch, wait for a price confirmation on daily or switch to lower TF to time the entry properly?
Thank you.
Follow my trading on Twitter and FB: @pumlitch
  • #108,171
  • Feb 29, 2012 5:07am Feb 29, 2012 5:07am
Quoting trc
I'm short again on this one.

Attachment
I'm studying James16 charts and I still can't belive that trading can be so much boring & funny at the same time
I'm happy because I don't to the market anymore
Thanks to you guys.

Update:

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  • #108,172
  • Feb 29, 2012 5:44am Feb 29, 2012 5:44am
eurgbp heading towards that 0.84 area it broke out of last week, ive been waiting for the reaction at this level since it broke.
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  • #108,173
  • Feb 29, 2012 7:02am Feb 29, 2012 7:02am
To the pip.

Notice how price could not close above the first PB's eye.
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  • #108,174
  • Feb 29, 2012 7:19am Feb 29, 2012 7:19am
Quoting Pinbar
To the pip.

Notice how price could not close above the first PB's eye.
M15? I remember anytime I switched to minutes time frames i lost everything I earned on H4 and Daily so I stopped doing it couple of months ago. Not for me.
Follow my trading on Twitter and FB: @pumlitch
  • #108,175
  • Feb 29, 2012 7:35am Feb 29, 2012 7:35am
Quoting Pumlitch
M15? I remember anytime I switched to minutes time frames i lost everything I earned on H4 and Daily so I stopped doing it couple of months ago. Not for me.
This was an M15 entry on a weekly LCS.

It wasn't just an M15 setup randomly taken on an area of the chart.
  • #108,176
  • Feb 29, 2012 7:43am Feb 29, 2012 7:43am
USDCAD finaly breaking...
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all is eternal - this is good news for people who loves bad news
  • #108,177
  • Feb 29, 2012 8:04am Feb 29, 2012 8:04am
Quoting Pumlitch
M15? I remember anytime I switched to minutes time frames i lost everything I earned on H4 and Daily so I stopped doing it couple of months ago. Not for me.
same here, anything below 4hr im either breakeven or lose money, ever since James16 planted in my head daily daily daily, its been cinsistent profits, i tried 15mins again not long ago using pivots, again poor and lost, so only daily and minimum 4hr for me
  • #108,178
  • Feb 29, 2012 8:10am Feb 29, 2012 8:10am
Quoting deankenny21
same here, anything below 4hr im either breakeven or lose money, ever since James16 planted in my head daily daily daily, its been cinsistent profits, i tried 15mins again not long ago using pivots, again poor and lost, so only daily and minimum 4hr for me

Jarroo, takes M15 entries frequently.
We shouldn't think of them as trading M15, we are trading the Monthly & Weekly pivots, on the M15 TF.
It is a totally different game than just trading an M15 chart alone.
  • #108,179
  • Feb 29, 2012 8:21am Feb 29, 2012 8:21am
Quoting deankenny21
same here, anything below 4hr im either breakeven or lose money, ever since James16 planted in my head daily daily daily, its been cinsistent profits, i tried 15mins again not long ago using pivots, again poor and lost, so only daily and minimum 4hr for me
I do not go lower that 4h

Olu
If you think you can or cannot do it you are correct
  • #108,180
  • Feb 29, 2012 8:27am Feb 29, 2012 8:27am
This is an interesting breakout BUOB I am playing long . Don't heed my early entry (chart is from my fxpro demo feed , early entry is testing an aggressive approach ) Actual order on the break of the bar !
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