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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

  • #108,581
  • Mar 8, 2012 7:32am Mar 8, 2012 7:32am
Quoting Pinbar
Jim & Mike

Yeah, I realize he was probably going to go to BE real quick but, even so, is it really worth risking the SL for such a setup?
You can get a pretty tight stop loss here pinbar. Or use the area to reduce your stop loss as I tend to do. So either way you should be taking small loss here, or have a large Position size because you are starting with a tight stop. Same really can be said for all trades, just depends on style.

I will take bars like that and get our real quick BOTH ways. The issue is most sell a pinbar, leave their stop above the high and just hope and pray along the way it becomes a big runner. That's the recipe for disaster(most also do that on so-so trades which is even worse). But if we have a great idea where price is going(just as you marked up) and a great idea where to hide our stop, that's a high probability trade. That's really what anyone should be doing, no matter what trades you do or don't take. So you aren't risking so much, it's a matter of how you approach the trade. If you start with your stop above the bar then you shouldn't be taking a full bar loss but instead looking to cut out quick. Just as you are looking to get to b/e quick. This is where most don't because of size of their account or other issues.

Best
Mike
  • #108,582
  • Mar 8, 2012 8:13am Mar 8, 2012 8:13am
What do you guys think of NZD/USD 4hr pinbar, retrace to sup/res area

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  • #108,583
  • Mar 8, 2012 8:15am Mar 8, 2012 8:15am
Quoting Greenhaze
OK. Sell orders were filled. Lets see how low can that thing fall now.
Still in with full position and well in profit. Time to take some of the table


There are no absoluts in trading. I dont like entering after most of the move has occured hence i enter directly at the levels. Maybe i have more losses becouse of that but when it works it works very well giving me almost no drawdown and high R:R. Its all about understanding the order flow (Story ) behind PA and finding good balance between confirmation and entry close to the source. This aproach serves me well....... but its psychologically more demanding imo.
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  • #108,584
  • Mar 8, 2012 8:22am Mar 8, 2012 8:22am
Quoting dan89
What do you guys think of NZD/USD 4hr pinbar, retrace to sup/res area

Attachment
Looks interesting. Pretty high chance of hitting 0.82 if you ask me

Cheers!
  • #108,585
  • Edited 8:50am Mar 8, 2012 8:23am | Edited 8:50am
Quoting Greenhaze
Still in with full position and well in profit. Time to take some of the table


There are no absoluts in trading. I dont like entering after most of the move has occured hence i enter directly at the levels. Maybe i have more losses becouse of that but when it works it works very well giving me almost no drawdown and high R:R. Its all about understanding the order flow (Story ) behind PA and finding good balance between confirmation and entry close to the source. This aproach serves me well....... but its psychologically more demanding imo....
That story played out just as you have written it, GH . .awesome. .

But you're not playing fair .you understand the additional confluence of fundamentals working for you . .nicely done indeed .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #108,586
  • Mar 8, 2012 8:48am Mar 8, 2012 8:48am
Quoting jarroo
That story played out just as have you written it, GH . .awesome. .

But you're not playing fair .you understand the additional confluence of fundamentals working for you . .nicely done indeed .


Jim
Thanks Jarroo

fundamentals for me = sell the shit out of ***/usd for the 2 last weeks LOL.
  • #108,587
  • Mar 8, 2012 8:51am Mar 8, 2012 8:51am
Quoting Greenhaze
Thanks Jarroo

fundamentals for me = sell the shit out of ***/usd for the 2 last weeks LOL.

lol . .I believe you are not the only one with that sentiment . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #108,588
  • Edited 9:08am Mar 8, 2012 9:06am | Edited 9:08am
Easy entry from m15.... waited for 1700 (support flipped to resistance) to hold, enter on break of consolidation, with small initial stop....

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This has paid for this which failed.... I had to go to bed so i left a pending order well above the 'pin' which didn't close as i'd like anyway.... silly mistake, bad trade.

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Closed gold for +ive overall on the day....
  • #108,589
  • Mar 8, 2012 9:27am Mar 8, 2012 9:27am
Quoting dan89
What do you guys think of NZD/USD 4hr pinbar, retrace to sup/res area

Attachment

No 4hr pinbar on net dania charts.
  • #108,590
  • Mar 8, 2012 9:31am Mar 8, 2012 9:31am
Quoting bfd
No 4hr pinbar on net dania charts.
I got it....

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  • #108,591
  • Mar 8, 2012 9:51am Mar 8, 2012 9:51am
Wow this is a nice one, NZDUSD 4hr pinbar, with 150EMA and ppz area, support turning into resistence.
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  • #108,592
  • Mar 8, 2012 9:56am Mar 8, 2012 9:56am
Hey guys ,
I've been snowboarding all week here so , no time for trading , but it's hard not to watch at all ... you know
I even took one trade hehe. Really simple james16 style touch trade .
Confluence of brn 1.4500/ppz , trendline and ema365 .
Already at BE and watching what could bars give me
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  • #108,593
  • Mar 8, 2012 10:03am Mar 8, 2012 10:03am
Quoting Rust
Hey guys ,
I've been snowboarding all week here so , no time for trading , but it's hard not to watch at all ... you know
I even took one trade hehe. Really simple james16 style touch trade .
Confluence of brn 1.4500/ppz , trendline and ema365 .
Already at BE and watching what could bars give me
Nice one Rust .... I was watching that one closely on lower TF for pinpoint entry and waiting..... bloody missed it.
  • #108,594
  • Mar 8, 2012 11:47am Mar 8, 2012 11:47am
been awhile since I updated the guest section

Here is the gbp/nzd I spoke about in here
http://www.forexfactory.com/showthre...44#post5443744

This is a continuation setup, so be sure to learn them at the right swing points, or make the distinction in your learning

http://www.james16group.us/Guests/vi...b%20gbpnzd.wmv

an aside note it is 66 here today, and just freaking beautiful!

Enjoy the day
Mike
  • #108,595
  • Mar 8, 2012 12:34pm Mar 8, 2012 12:34pm
Quoting Greenhaze
sell the shit out of ***/usd .
I'm looking all over for this pairing, where can I find it!?
  • #108,596
  • Mar 8, 2012 1:00pm Mar 8, 2012 1:00pm
Quoting mbqb11
been awhile since I updated the guest section

Here is the gbp/nzd I spoke about in here
http://www.forexfactory.com/showthre...44#post5443744

This is a continuation setup, so be sure to learn them at the right swing points, or make the distinction in your learning

http://www.james16group.us/Guests/vi...b%20gbpnzd.wmv

an aside note it is 66 here today, and just freaking beautiful!

Enjoy the day
Mike
Thanks for video
  • #108,597
  • Mar 8, 2012 1:30pm Mar 8, 2012 1:30pm
Quoting Greenhaze
OK. Sell orders were filled. Lets see how low can that thing fall now.
Far be it for me to be bothered about such things but aren't we as far removed from J16 teachings as we could get here? Correlations with other markets and touch trades off levels with no PA at all?

Or am i missing something?
  • #108,598
  • Mar 8, 2012 2:17pm Mar 8, 2012 2:17pm
Quoting beebolbod
Far be it for me to be bothered about such things but aren't we as far removed from J16 teachings as we could get here? Correlations with other markets and touch trades off levels with no PA at all?

Or am i missing something?
He's basically using one of J16 key concepts, but without PA. He sold the flip of previous support to resistance in this case - a ppz. Most of us would wait for PA confirmation to enter at these points, via PB or some other pattern/concept.
  • #108,599
  • Mar 8, 2012 3:03pm Mar 8, 2012 3:03pm
Quoting Donkey
He's basically using one of J16 key concepts, but without PA. He sold the flip of previous support to resistance in this case - a ppz. Most of us would wait for PA confirmation to enter at these points, via PB or some other pattern/concept.
yep it's all very overlapping once you do this long enough. We are looking for the same things and the more you do this you will see it. Then styles will dicate how you want to proceed. I like the PA bars, I am a wuss though that likes the confirmation

If you are new you should be starting out with PA bars and you may never leave them (like myself, I touch trade maybe a few times a month).

Thanks for jumping in D

Mike
  • #108,600
  • Mar 8, 2012 3:21pm Mar 8, 2012 3:21pm
Quoting jarroo
That Weekly/Daily LCS level should have acted as Resistance . .even just a little bit . .lol . .What does it tell you about the move upward . .strong as hell . .lol

Waiting for lower TF bearish PA at that level would have kept you out . for sure . .


Jim
Followup on the GbpChf . . Bam! . .

Later,

Jim
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Indicators show the past. Price Action "Indicates" the future.
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