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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

  • #108,601
  • Mar 8, 2012 3:23pm Mar 8, 2012 3:23pm
Quoting jarroo
Followup on the GbpChf . . Bam! . .

Later,

Jim
nice!
  • #108,602
  • Mar 8, 2012 4:13pm Mar 8, 2012 4:13pm
Quoting jarroo
Followup on the GbpChf . . Bam! . .

Later,

Jim

Hi Jarroo,
Yes I like the story, exhaustion on the down side with the double inside bars. Very cool.
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  • #108,603
  • Mar 8, 2012 4:28pm Mar 8, 2012 4:28pm
Quoting heebbyjeeby
Hi Jarroo,
Yes I like the story, exhaustion on the down side with the double inside bars. Very cool.
(Hope you can see this.)
This triangle as well. I expect it to break upside, but lets see what PA does.

:


http://my.jetscreenshot.com/11256/m_...-jkmx-92kb.jpg
  • #108,604
  • Mar 8, 2012 4:28pm Mar 8, 2012 4:28pm
It's been covered, but a slightly different take:

Daily PPZ, 1h PA. Target hit. I love it when it's this simple
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  • #108,605
  • Mar 8, 2012 5:02pm Mar 8, 2012 5:02pm
Quoting mbqb11
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
Happy to....been out of pocket a few weeks.

I normally trade combination bars, but I sold the USDCAD yesterday 8H yesterday....couldn't help it with the strong close and parity there.

2% to the account in 12 hours . Thanks to mike, jarroo and J16. Trade progression below (moved stop slightly right after entry).
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  • #108,606
  • Mar 8, 2012 5:07pm Mar 8, 2012 5:07pm
Bulish flag forming on CHFJPY at BRN 90
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  • #108,607
  • Mar 8, 2012 5:10pm Mar 8, 2012 5:10pm
Quoting Donkey
Happy to....been out of pocket a few weeks
Good to see you Donkey

Here's how I played it:

- PBT&CB D1 PPZ at 0.99848
- Entry on retest
- Trend line for confluence. Without it, I would've passed.

(Following on from Jim's recent posts (Not Jim Jarroo, the other Jim, J16 Jim )
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  • #108,608
  • Mar 8, 2012 5:17pm Mar 8, 2012 5:17pm
Quoting deankenny21
Wow this is a nice one, NZDUSD 4hr pinbar, with 150EMA and ppz area, support turning into resistence.

Why are my Ema's off from Yours and Jaroo's? ..They are set at simple and applied to the close ...been meaning to ask this for a while.

thank you in advance)
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  • #108,609
  • Mar 8, 2012 5:31pm Mar 8, 2012 5:31pm
Quoting equivestor12
Why are my Ema's off from Yours and Jaroo's? ..They are set at simple and applied to the close ...been meaning to ask this for a while.

thank you in advance)
I think they should be set to exponential. Not simple friend
  • #108,610
  • Mar 8, 2012 7:15pm Mar 8, 2012 7:15pm
Quoting equivestor12
Why are my Ema's off from Yours and Jaroo's? ..They are set at simple and applied to the close ...been meaning to ask this for a while.

thank you in advance)
They should be set to exponential not simple, that should solve your problem, just for your information

EMA = Exponential moving average
SMA = Simple moving average
  • #108,611
  • Mar 8, 2012 9:39pm Mar 8, 2012 9:39pm
Hey all ,

Need some advice on using stops overnight. The way I have been trading it seems a lot of my trades are highly active overnight while I am sleeping ( I am in AZ) and would have resulted in profits had I been awake to watch.

I have profit targets I am wondering though if a trailing stop would be better to use overnight or just a simple take profit.

I was thinking a trailing stop would more than likely keep me form a loss but might not allow the room for the pair I am trading to "move" a little. However a take profit will of course give me a profit but not allow me let the trade run if it keeps going in my direction.

I was also thinking about using a 1/2 limit order if target is reached but I do not know how I would be able to move my stop up in that scenario at night if I am not there to do it manually?

Anyone have a good system for this?

Any help appreciated

Thanks
"Greed is good,greed is right,greed works"
  • #108,612
  • Mar 9, 2012 12:03am Mar 9, 2012 12:03am
Quoting Gekko78
Hey all ,
Need some advice on using stops overnight. The way I have been trading it seems a lot of my trades are highly active overnight while I am sleeping ( I am in AZ) and would have resulted in profits had I been awake to watch.

I have profit targets I am wondering though if a trailing stop would be better to use overnight or just a simple take profit.

I was thinking a trailing stop would more than likely keep me form a loss but might not allow the room for the pair I am trading to "move" a little. However a take profit will of course...
Hello Sir,
i think u just have to experiment & see what's best for u.
depending on your broker, u can set trail.stops in such a way that it trails according to your needs. let's say u trail your stop in such a way that it moves accordingly once your initial target area/profit is hit.
u can also open multiple positions & make partial exits along the way. (using a fixed stop or trail.stop)
there is a J16 Manager EA floating around this thread. i haven't used it but u can try to see if it can work for u.
alternatively, u can set an alarm so u would wake up at certain times to monitor your trades..... or move to a place where it is very convenient to trade, time-wise. (like here in Asia)

hopefully those who are in the same situation will chime in to help u further.
  • #108,613
  • Mar 9, 2012 1:58am Mar 9, 2012 1:58am
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.
I can see that. My concern is these trades often fail if picked wrong. Someone pointed to a GU trade yesterday with seemingly bags of confluence for a touch trade but it failed. They are risky.

GH knows his stuff, and i love his posts as they offer insight - i just found this one a little vague for people out there who cant see why it was traded.

I think it's hard to look at this chart and see a clear trade (unless you really know your stuff ).

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  • #108,614
  • Mar 9, 2012 3:37am Mar 9, 2012 3:37am
Quoting Gekko78
Anyone have a good system for this?

Any help appreciated

Thanks
I have an EA which moves stops and takes profit according to lines you draw. You can take % at different levels and move stops as new levels are hit. You can adjust % profit taken at various levels etc.
Mt4 must be running for it to work is only condition....

Attached File(s)
File Type: ex4 Price Target EA V1.2.ex4   7 KB | 580 downloads


Attached File(s)
File Type: mq4 Price Target EA V1.2.mq4   7 KB | 630 downloads
  • #108,615
  • Mar 9, 2012 4:01am Mar 9, 2012 4:01am
Gold testing 1700 area again... following TL nicely.... wedging... first major retest of 1700 area after nice break on 6th after Bernanke dust settled... one to watch... maybe.

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  • #108,616
  • Mar 9, 2012 4:27am Mar 9, 2012 4:27am
Quoting mbqb11
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...

thanks Mike

Yes, there is no place for hope in this business.
  • #108,617
  • Mar 9, 2012 4:51am Mar 9, 2012 4:51am
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.
Hey D,

I believe Sir GH uses even more PA/confirmation and/or confluence (with intermarket relationships and other various other factors) than us newbies can even imagine at our early stage of our development - I think I have some idea but would love to know more.

I see it as aligned with J16 due to my following personal definition of the J16 teachings:

I define J16 as an ATTITUDE of curiosity, discipline, open mindedness, objective testing and experimentation and a METHODOLOGY of detecting, documenting and utilising patterns that leaves behind a trail of SYSTEMIC set of plans for managing positions in the financial markets.

The ATTITUDE and METHODOLOGY of the J16 approach often leads SYSTEMIC ways of trading that are not "systemATIC", but more analogous.

In Sir GH's case, I believe he uses a lot of intermarket technical price pattern relationships and maybe even fundamentals to forecast high probability scenarios that can be utilized to trade the immediate charts on a singular instruments with minimal confluence needed with the factors on the immediate chart, but carries a lot more weight and confluence from other instruments after years and years of observation and experimentation, practice and experience and success rate that have trained his unconscious mind to be able to detect a lot more relationships than newbies like me have even discovered yet.

Sir GH, Please show us more!

V
  • #108,618
  • Mar 9, 2012 5:06am Mar 9, 2012 5:06am
Well if your're new, stick to 'PA at swing lows' and 'PA at swing highs' no? simple.
  • #108,619
  • Mar 9, 2012 5:13am Mar 9, 2012 5:13am
I'm in danger of coming across as confrontational here.... not my intention at all.... merely stimulating debate and setting warnings for people learning J16 style. KISS.
  • #108,620
  • Mar 9, 2012 5:29am Mar 9, 2012 5:29am
Quoting beebolbod
Well if your're new, stick to 'PA at swing lows' and 'PA at swing highs' no? simple.
Hey B,

I agree with you 100%.

Watching 16 screens at a time before learning about PPZ and basic PA is not the ideal learning scenario.

Extremely valid point.

V
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