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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

  • #112,141
  • May 23, 2012 5:28pm May 23, 2012 5:28pm
Quoting Dan Gilbert
sometimes I get it right

wrote my thoughts on paper 24 hours ago at the close. Only took me a couple years to hit this stride.

J16 seniors rule the earth
RESPECT.
Nothing personal,just business
  • #112,142
  • May 23, 2012 5:33pm May 23, 2012 5:33pm
Just was reading back over my previous 8 posts there and laughed. Joined the forum in November 2010- after a couple of weeks, I was able to recognise a few PA bars and then bang- I was ready to trade. Thank God, I only took a couple of live trades (losers obviously- they were based on PA with invented confluence- its simple to convince yourself that every PA bar has a good location if you try hard enough). Anyway, it was back to post 1 and since I've been reading, reading and reading- I haven't read the whole thread but have done the following:-

1 All Jim's posts and charts (about 5 times- charts have been printed out in my trading bible file and are referred to regularly;
2 Ghous's blog (fakeouts)- printed out in my trading bible file;
3 Phanti's supply and demand system- printed out in my trading bible file;
4 Dean Kenny's supply and demand using fibs thread;
5 Silent Service thread- printed out and in my trading bible file;
5 All Mikey's posts and charts from 1/1/12;
6 All Jarroo's charts from 1/1/12;
and 7 Haven't missed a post on the thread from 1/4/12- any excellent posts are put into my file.

This has taken ages and has been worth it. Thank you so much to all the above (and indeed the many others who give their time on this forum to help others). Everybody's interpretation is slightly different and its up to each individual trader to find what suits their own style. I work full time so daily and weekly charts is all I will be trading. Having read all the above, the style that suits me best is Jim's- the low stop losses at the perfect locations (confluence is the key).

I now feel ready to demo for the next 6 months. My first trade was taken last night. 2 day BEOB retrace to BRN at 80.00 (a pivot zone if ever), 50% fib retrace, trendline and 2 emas there for further back-up. My stop is only 40 pips. I see the trouble at 79 and once price hit the ema, I moved stop to be. I am now hoping for price to break 79 and give me the runner. I think Jim referred to this type of trade as a "trifecta".

Thoughts appreciated. I hope my journey to date has shown beginner's that there is no shortcut. This is a business and requires the hard hours. I plan on being a regular contributor to the forum going forward and will be posting all my demo trades over the next 6 months.

Thanks
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  • #112,143
  • May 23, 2012 5:38pm May 23, 2012 5:38pm
What do you's think about this NZD/USD pin bar, which delved into the 74600 territory?? I entered the trade using my old strategy and am still new to this Pin Par theory which i do like.
Cheers.
http://i112.photobucket.com/albums/n195/08_adaml/1.jpg
  • #112,144
  • May 23, 2012 5:47pm May 23, 2012 5:47pm
Quoting adz189
What do you's think about this NZD/USD pin bar, which delved into the 74600 territory?? I entered the trade using my old strategy and am still new to this Pin Par theory which i do like.
Cheers.
http://i112.photobucket.com/albums/n195/08_adaml/1.jpg
Hi,

This is not a pinbar on my feed and the bar is way too small/weak to reverse price when you compare it to the current down trend.

Price must open and close within the eye of the previous bar to be classed as a pinbar.
  • #112,145
  • May 23, 2012 5:55pm May 23, 2012 5:55pm
Quoting millions
Just was reading back over my previous 8 posts there and laughed. Joined the forum in November 2010- after a couple of weeks, I was able to recognise a few PA bars and then bang- I was ready to trade. Thank God, I only took a couple of live trades (losers obviously- they were based on PA with invented confluence- its simple to convince yourself that every PA bar has a good location if you try hard enough). Anyway, it was back to post 1 and since I've been reading, reading and reading- I haven't read the whole thread but have done the following:-...
Millions,

What a terrific post and a great trade. James16 would be proud.

You have obviously worked hard at this and have done your homework. I agree fully that there is absolutely no short cut and all the reading and learning is a must and it does pay off. I have no doubt that you have a real sense of achievement and satisfaction to have taken that trade and for it to have worked out exactly as you thought it would.

You deserve great credit and keep up the good work.

bud_fox
  • #112,146
  • May 23, 2012 7:10pm May 23, 2012 7:10pm
Quoting Bones
Ok divergence ,but what else??

A strong looking PPZ with multiple swing points terminating at it, in no uncertain terms.

price has now closed below it, could be a nice area for a short on the pullback.
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  • #112,147
  • May 23, 2012 7:34pm May 23, 2012 7:34pm
Quoting Pinbar
A strong looking PPZ with multiple swing points terminating at it, in no uncertain terms.

price has now closed below it, could be a nice area for a short on the pullback.
nice Steve! I just posted same chart in the PF today haha. You read my mind


Mike
  • #112,148
  • May 23, 2012 7:35pm May 23, 2012 7:35pm
Quoting millions
Just was reading back over my previous 8 posts there and laughed. Joined the forum in November 2010- after a couple of weeks, I was able to recognise a few PA bars and then bang- I was ready to trade. Thank God, I only took a couple of live trades (losers obviously- they were based on PA with invented confluence- its simple to convince yourself that every PA bar has a good location if you try hard enough). Anyway, it was back to post 1 and since I've been reading, reading and reading- I haven't read the whole thread but have done the following:-...
cool man way cool. Treating it like a business is what you are doing. James would smile cheek to cheek, cause that's all he ever is trying to show any of us



Mike
  • #112,149
  • May 23, 2012 8:03pm May 23, 2012 8:03pm
Quoting mbqb11
nice Steve! I just posted same chart in the PF today haha. You read my mind


Mike

Thanks Mike

Been so busy teaching at university these last few months.
Almost no time to look at charts.
It could possibly be a good thing for a while, even though I was cursing.

Interesting area on Gold.

Monthly & weekly swing points, in confluence with each other.
Got that weekly and daily PB to work out though.
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  • #112,150
  • May 23, 2012 10:23pm May 23, 2012 10:23pm
Quoting gadogado
NZD/USD, hit SL....
I like that level to on the Nzdusd, .7612, gado . .Monthly / Weekly LCS level. . .looks like it going to be a Weekly Signature . .lol ..

But it looks like this Monthly LCS level, .7524 is really standing out with strength. Price bounced off of it initially and pushed Price through the .7612 . .wow.

Just check out the Signatures ( on any TF) at the .7524 once PBT&CB on the Daily. . .and even before the close below on the Daily.
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Indicators show the past. Price Action "Indicates" the future.
  • #112,151
  • May 23, 2012 10:33pm May 23, 2012 10:33pm
Quoting gadogado
GBP/USD, work nicely...
Classic on the GU, gado . .

I liked that top one too, 1.5846. . .but all three entry levels were valid . .

That 1.5846 was the High of the Day and probably the High of the Week . .Interesting . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #112,152
  • May 23, 2012 11:42pm May 23, 2012 11:42pm
Quoting Pinbar
Damn Gaps!

That reminds me, where is Jim.
Hope all is well.
Good to see you back in the thread pin. I actually like the weekly gaps...when price breaks through you have a good entry spot and stop placement. Posted this pending order in jarroo's thread on the PF....
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  • #112,153
  • May 23, 2012 11:49pm May 23, 2012 11:49pm
Quoting Pinbar
Damn Gaps!

That reminds me, where is Jim.
Hope all is well.
If you were talking about me and not James16 . .I 've been around . .more so in the PF lately . .doing Webinars, videos, etc .

not enough hours in the day . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,154
  • May 23, 2012 11:55pm May 23, 2012 11:55pm
So I've Been watching EG for several months now. Here is an example of jarbq16. Daily PA in form of a BEOB off of a weekly level. I missed this one because of my damn kids baseball tournament games last night (tongue in cheek comment there).

Entry at the wkly gap low and stop above gap would have been profitable.
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  • #112,155
  • May 24, 2012 12:03am May 24, 2012 12:03am
Quoting Donkey
So I've Been watching EG for several months now. Here is an example of jarbq16. Daily PA in form of a BEOB off of a weekly level. I missed this one because of my damn kids baseball tournament games last night (tongue in cheek comment there).

Entry at the wkly gap low and stop above gap would have been profitable.
Even better entry would be the 4H pinbar off of the MONTHLY HCR level. With confluence of RN 8100 and 150 ema.
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  • #112,156
  • May 24, 2012 12:30am May 24, 2012 12:30am
Quoting Donkey
So I've Been watching EG for several months now. Here is an example of jarbq16. Daily PA in form of a BEOB off of a weekly level. I missed this one because of my damn kids baseball tournament games last night (tongue in cheek comment there).

Entry at the wkly gap low and stop above gap would have been profitable.
Quoting Dan Gilbert
I have been working the intraday charts a bit recently. Had the 8060 marked as a good retracement short spot for the daily BEOB we saw close yesterday.

BEOB on 1hr, enter.
I agree D . .those past levels are coming back in play . .due to they are now in Open Space . .

I was looking at these Weekly levels and how well they fit into Dan's Hourly setup . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,157
  • May 24, 2012 12:43am May 24, 2012 12:43am
Quoting Bones
High risk ,please do not follow wait for confirm

I can post cause w1 pin right
Hello Bones, May i know why did you choose to take the EUGBP Long trade ? I mean it's against the trend right ?
  • #112,158
  • May 24, 2012 12:43am May 24, 2012 12:43am
Quoting Dan Gilbert
sometimes I get it right

wrote my thoughts on paper 24 hours ago at the close. Only took me a couple years to hit this stride.

J16 seniors rule the earth
Great post Dan . . .

I like that classic Dan Gilbert I4B at the BRN . .UsdJpy . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,159
  • May 24, 2012 12:49am May 24, 2012 12:49am
Quoting Pinbar
Divergence starting to build up on the weekly TF.
I do not like the look of all the WLCS lining up around this area, for a short.

Very valid reasons you give that this a stroooonnng level of Support on the Weekly . .price has now broke though it . what does that tell you about the strength of this down trend . .wow.

Let's see if the Weekly can close below this strong Weekly Support level and turn it into Resistance. .
Indicators show the past. Price Action "Indicates" the future.
  • #112,160
  • May 24, 2012 1:24am May 24, 2012 1:24am
You are right ,and trade is a little risky ,I like eur gbp weekly pin its pretty

Quoting fx9999
Hello Bones, May i know why did you choose to take the EUGBP Long trade ? I mean it's against the trend right ?
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