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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

  • #109,541
  • Mar 28, 2012 8:05pm Mar 28, 2012 8:05pm
Quoting ForexForLife
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Hi everyone, I've learned a great deal since I've found this thread a few months ago. This is the chart I have for EURUSD. I just wanted to thank everyone for their time and effort and for posting so much amazing information.

Higher timeframes are the key.
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  • #109,542
  • Mar 28, 2012 8:12pm Mar 28, 2012 8:12pm
Quoting Donkey
Here's my story on the Euro, using my bastardized version of Jarroo's stuff.
Order triggered today. Deeper initial drawdown than I would have liked (40p)....although the weekly level I marked held up (entry there would've been 4 pip drawdown).

Now that I'm in, I'll try to manage it well. Started by reducing risk 35% by moving stop up 30 pips.

I'm managing trade on 4H - first chart is this morning before order triggered...second is my position now.
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  • #109,543
  • Mar 29, 2012 7:19am Mar 29, 2012 7:19am
Quoting Donkey
Order triggered today. Deeper initial drawdown than I would have liked (40p)....although the weekly level I marked held up (entry there would've been 4 pip drawdown).

Now that I'm in, I'll try to manage it well. Started by reducing risk 35% by moving stop up 30 pips.

I'm managing trade on 4H - first chart is this morning before order triggered...second is my position now.
Price is breaking hard below my weekly level, so I've cut this one for reduced loss - approximately -0.4R.
  • #109,544
  • Mar 29, 2012 7:51am Mar 29, 2012 7:51am
a bunch of us are watching this. Things are getting heavy at the 85 BRN. Talk about a nice support line(for now) if price gets under very good area to watch, as is it right now as well.

Let's see what happens here
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  • #109,545
  • Mar 29, 2012 7:57am Mar 29, 2012 7:57am
Quoting mbqb11
a bunch of us are watching this. Things are getting heavy at the 85 BRN. Talk about a nice support line(for now) if price gets under very good area to watch, as is it right now as well.

Let's see what happens here
Hi Mike ,
this one i am also watching , along with a bunch of JPY pairs . Favorite one EurJpy with the 110.00 level. It would be nice to see a retrace to it .
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  • #109,546
  • Mar 29, 2012 8:36am Mar 29, 2012 8:36am
Hello! Pinbar,
I was thinking about long here.
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Price Is The Best Indicator Itself.
  • #109,547
  • Mar 29, 2012 9:41am Mar 29, 2012 9:41am
hey all,
anybody else watching this? any thoughts?

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LE: forgot to ask a question, for us noobs, acc. to the J16 rules one must not trade under the daily TF, but is it ok to check for PA and manage the trade in 4H but only decide on trades on daily?
  • #109,548
  • Mar 29, 2012 9:43am Mar 29, 2012 9:43am
Quoting asim.iqbal
Hello! Pinbar,
I was thinking about long here.
Hey Asim,

It's nice to see you finally start posting.

Remember we discussed that we want to see our bullish PA setups at swing lows. Do you notice how its very close to a swing high?

What it does is, it leaves us with little space to manage our trade. Now taking a trade at a retracement is a smarter thing to do because you obviously now have a bit more space to play around with but again it still doesn't push this setup into the "great setups" category.

It can sometimes be daunting waiting for the real good setups at swing highs and lows but it really is worth it, specially for a person just starting out.

hope this helps.

g.
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I believe . . .
  • #109,549
  • Mar 29, 2012 9:47am Mar 29, 2012 9:47am
Quoting heaven
hey all,
anybody else watching this? any thoughts?

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Wow that calls for a good story either ways. We have some nice 'stories' across a bunch of pairs.

g.
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I believe . . .
  • #109,550
  • Mar 29, 2012 10:08am Mar 29, 2012 10:08am
Just something I'm looking at. Am I missing anything guys?
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  • #109,551
  • Mar 29, 2012 10:21am Mar 29, 2012 10:21am
Hi!

I registered to this forum because this thread and love it.

I would love to ask one thing from all of you who use a typical pinbar strategy:
do you place you initial stoploss always at the end of the pinbar ? or would you place it differently if a zone (ppz,roundnumber..etc) is farther away from the original SL?

let me explain:

for example despite your strategy says its a clear short entry here, with stoploss at the redline:
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OR would you place the SL farther away because there is a ppz(blue rectangle) and a BRN (orange line) over the pin bar ?
So the stoploss would be the pink line to avoid the following: pinbar fail --> originalstoploss hit--> test of the ppz,brn --> and turn into massive bear move
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thanks
  • #109,552
  • Mar 29, 2012 10:27am Mar 29, 2012 10:27am
Quoting ghous
Hey Asim,

It's nice to see you finally start posting.

Remember we discussed that we want to see our bullish PA setups at swing lows. Do you notice how its very close to a swing high?

What it does is, it leaves us with little space to manage our trade. Now taking a trade at a retracement is a smarter thing to do because you obviously now have a bit more space to play around with but again it still doesn't push this setup into the "great setups" category.

It can sometimes be daunting waiting for the real good setups at swing highs and lows...
Hmmm!
You mean this was the right setup to catch.
It is new for me.
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Price Is The Best Indicator Itself.
  • #109,553
  • Mar 29, 2012 10:28am Mar 29, 2012 10:28am
Quoting riandouma
Just something I'm looking at. Am I missing anything guys?
looks good Rian, that's a nice area to watch for support to turn to resistance.
  • #109,554
  • Mar 29, 2012 10:58am Mar 29, 2012 10:58am
Quoting mbqb11
looks good Rian, that's a nice area to watch for support to turn to resistance.
Thank you Mike for taking the time to look at it. I have another one here. I've been kicking myself lately with bad discipline and taking wrong trades. In the beginning I sometimes just took 1 or 2 trade a week and suddenly had to urge take more. BAD mistake! The joy of learning!
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  • #109,555
  • Mar 29, 2012 11:14am Mar 29, 2012 11:14am
Quoting riandouma
Thank you Mike for taking the time to look at it. I have another one here. I've been kicking myself lately with bad discipline and taking wrong trades. In the beginning I sometimes just took 1 or 2 trade a week and suddenly had to urge take more. BAD mistake! The joy of learning!
Hey Rian

I'd be very careful here, for it to be a DBHLC it would need to close below the previous bar low. There is quite a bit of former resistance here that I would be reluctant to trade back down into. Price would need to close well under that blue area for me to want to be getting in short.

Best
Mike
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  • #109,556
  • Mar 29, 2012 11:23am Mar 29, 2012 11:23am
Damn loss i took today . Hate that . I should remember next time , why not to play consolidation market.
Entered on the break of the box between 8.8500 and 8.9500 , targeting 8.8000. Using this nice BEOB . Half position on the break , half on retrace .
When price returned into the box , i cut out .
The yen setups i was watching didn't gave any confirmation so , no play there .... a bad day for me

just sharing my pain with you guys ...
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  • #109,557
  • Mar 29, 2012 11:40am Mar 29, 2012 11:40am
Hey Mike,

I know you posted about AUDJPY but what about this on usdjpy?
A nice 4hr pin, off a ppz, and BRN of 82.000.

A nice story?



(forget the buy line, its stuck and wont go away!!!!0
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  • #109,558
  • Mar 29, 2012 11:47am Mar 29, 2012 11:47am
Quoting heebbyjeeby
Hey Mike,

I know you posted about AUDJPY but what about this on usdjpy?
A nice 4hr pin, off a ppz, and BRN of 82.000.

A nice story?



(forget the buy line, its stuck and wont go away!!!!0
Hey Heeb

I would be very cautious trading back into the pivot around 82.50. Coming of a pretty strong bearish move I would need more confluence and a stronger bar and/or close to be pushing back into this. Keep your stops tight if you are going to fight that at the least

Best
Mike
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  • #109,559
  • Mar 29, 2012 11:51am Mar 29, 2012 11:51am
hi mike,

#CL 4hr tf break out the consolidation area......
it's the valid break out.......
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  • #109,560
  • Mar 29, 2012 11:54am Mar 29, 2012 11:54am
Hi Guys I took this trade this morning ( on demo )

I marked on the daily chart the HCR level of 1663 which the market closed below yesterday and then I took a touch trade from this level. I have shown the 4 hour chart to show how price has moved in my favour I did not use it for entry in anyway or though there are pin bars bouncing of the level.

I know the trade has gone well for me in my direction but Jarroo or pin bar or anyone else trading like this can I have your thoughts on the levels I have chosen and the positives and negatives of the set up

Thanks
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