james16 Chart Thread

Hey D,
Yes, The bounce on the .8400 level was not as significant as the previous ones, where pb's formed. I shall attempt to play the retrace to the underside of the broken box.
What is your feeling on playing it?

As a BEOB on a retrace (as opposed to a break) is how I would although I'll just watch it for now. If it gets up to the 8260ish area and stalls and shows some nice PA is could be good. If it get's back up into the blue box area I'll stop watching it

This could be good for a bounce. Or close below the PPZ and start heading down (MACD divergence on weekly)

Is this a weekly IBP on NZD/JPY? Could it put an end to 9 green weekly bars in a row? The location is good and the weekly 365 EMA adds confluence...

CAD looks like it wants to get stronger. Although this is a weekly BEOB I'm not looking at it as a tradeable setup (although it might present a nice opportunity on the daily this week) - it's more a reference to add some perspective to the other CAD setups.

Which way do we go...? Do we trade lower from here or do we go back and retest Parity once again? Parity is a healthy 120 pips higher. A Jaroo re-test of the 9910 level we just broke through and a further move lower wouldn't have to go much to hit another Weekly level.

Best,

Eric.

Hi ddinnov,

May I know why do you call this bar a "BEOB on retrace"?

Caesar

Just watching GU to see which scenario may play out.

Any one see that pin on the GBP/JPY @ 130?.

Looks nice..

Hi Pinbar,

Just wondering where did you get that neat looking horizontal lines for round numbers at the right side your screenshot. Am looking for something like this to tidy up my chart.

Caesar

I modified an existing indicator to get it to do that.

Please search the thread for Sweet Spots Gold.

I have posted it many times.

Weekly PB.
+ confluence with EMA 365 & FIB 50 & BRN (3.10)
- strong downtrend & PB size
I will watch it...

Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back ( often used to denote the first time back to an EMA)
RT= retest
WIPG= Where is price going
(This is an exercise designed by J16, in working out where the initial push of any given PA setup is likely to stall at, before it even breaks. In other words the FTA)
WDPG= Where did price go ( This is the conclusion of WIPG)

Jarroo's New Terminology
--------------------------------------------------
PBT&CA= price breaks through & closes above
PBT&CB= price breaks through & closes below

LCS= lowest close of support
HCR=highest close of resistance
-------------------------------------------------


Price Action Setups & The Round Number Indicator

Note that, the short horizontal line on the PA chart, is the entry point which is usually a 10-15 pip buffer on a daily chart.

The updated signature should lead anyone who wants the RN indicator, to it.

Thank you Pinbar. Always adding value to our trading as usual

What have we got here?

Hey Paul
Here's my five cents on this.
I'm a newbie in trading and a member of J16 Private Forum since November. I'm on demo at the moment and not profitable yet.
Several days ago I had a conversation with my wife. I was complaining to her that I'm lost, there's so much information to read and so much to do. I don't have time for all this. In this thread there's more than 108000 posts and also a lot of threads in PF. And she asked me perfect question: do you really have to read all this? At that moment I had an insight. BAMM! like Jaroo says )
I realised that I had to do those and only those things, that lead me to achieving my goals and help me in achieving my goals. If it's required to read zero pages to achive your goals than zero pages it is. If it's required to read the entire thread, than entire thread it is.
But first you need to define your goals. What for are you trading? What do you want to achive by this? How exactly do you understand that you achieved your goal? What resources will help you in achieving your goal? What obstacles do you see, that you need to overcome on the way your goal? What are the steps that you will take? Etc. I don't want to go into deep details here.
Once you correctly specify your goals everything becomes much more clear and makes more sense. IMO, it's very important to see your goal and the road to it.
For me practice is very important. After practice I'm able to formulate the right questions, I know much better what material and what answers I'm looking for. Reading without practice is worthless.
Now the most important thing. I ask myself: will any of the above really help anybody? Does it have any value? It was my experience, it makes perfect sence for me. Many other people had similar experience, but will all these words help anybody (except me ) I've read tons of psychological books. And none of them made me even 1% more efficient or solved any of my problems. What really changed me was practice (you ask: what did you achieve? - at least, I don't read any psychological books anymore ))
I know only one psychological book, that really works. It's Allen Carr's "The Easy Way to Stop Smoking", my wife and many other people quit smoking after reading it. If you've read the book "How to become reach in 1 year" (for example) and after 5 years you still have no money, than it was pure waste of time.
Above I mentioned technique for specifying goals. Without practice is absolutely worthless. It's dead knowledge. People say, that dead knowledge is even worse than no knowledge.
I'm not a profitable trader yet, but I have a confidence, that if being a profitable trader is what I really want, I will achieve it. It's not a dream for me, it's 100% achieveable goal, that you can perfectly see, touch, feel, smell. It's like all the other goals, for example to get a new job.
In this post I tried to give people a framework for working with their goals. It wasn't an exact description, more a hint in which direction to search for.
If people say, that it was a great post, but still it didn't help a single person - it wasn't worth writing. If people say "what the bullshit you wrote?" but it really changed somebody and helped somebody, than it means that it was really helpful and was worth writing. The strongest personal growth I had, when my teacher made so much pain to me with his words, that I hardly could sleep and really felt a heartache in my chest. But it was very helpful for me, and I'm very grateful, that he did it. Result is the only criterion.

P.S. I wanted to write similar post on Friday in my journal, but I postponed it and when I saw Paul's question, I decided to write it here. Hope you excuse me for the volume and for rambling )
P.P.S. This post was 100% worth writing because it helped at least one person, I know for sure.

Cheers, Paul and guys!

Quite interesting Variance...price is ranging with the 150ema below and the TL and 365ema above on H4...

I think the pair is still bullish tho.

PS: we had a 2 weeks PB. Let's see if today's PA will CA the TL.

Thanks for filling in my gap

Leckytech, Leximus,

Welcome to the world of J16

I'd be pleased to recommend Mike - mbqb11 and Jim - Jarroo's posts to you both.

The testimonies on the PF site are a bit underrated but I know you both will be very, very successful if you continue your ferocious hunger.

Best Wishes,

V

glad to