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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

  • #114,361
  • Jul 16, 2012 7:56pm Jul 16, 2012 7:56pm
Quoting 0421
Am I understood this issue correctly?

chart...

http://i45.tinypic.com/amzep4.gif

can we play in this box on a lower time frame? or is it too difficult for new traders?

THX
yes very good you have the boxes well. The issue isn't can you play it on a lower timeframe, as the levels are there. But it's about what lower timeframes tend to do to new traders.

I highly recommend sticking to the j16 minimum requirements in post one while learning. You may never have a desire to go to the lower timeframes but at the least if you accomplish them you will be treating this as a business and building a strong foundation

Best
Mike
  • #114,362
  • Jul 16, 2012 8:28pm Jul 16, 2012 8:28pm
Quoting mbqb11
yes very good you have the boxes well. The issue isn't can you play it on a lower timeframe, as the levels are there. But it's about what lower timeframes tend to do to new traders.

I highly recommend sticking to the j16 minimum requirements in post one while learning. You may never have a desire to go to the lower timeframes but at the least if you accomplish them you will be treating this as a business and building a strong foundation

Best
Mike
I am very grateful for your help... i will follow the james16's rules.
  • #114,363
  • Jul 17, 2012 12:21am Jul 17, 2012 12:21am
Mike, can you explain this? is it possible to think of the sale, after breaking 0.96000?
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  • #114,364
  • Jul 17, 2012 3:22am Jul 17, 2012 3:22am
Quoting mbqb11
nice big buob swing low. Pitbull no?
nice mike

i am also in this one after the second pin on daily...

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  • #114,365
  • Jul 17, 2012 3:29am Jul 17, 2012 3:29am
Quoting brzvadeg
Mike, can you explain this? is it possible to think of the sale, after breaking 0.96000?
Attachment
CAD/CHF

a nice one IMHO....formed two pins on daily. My target is the 0.9400 area

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  • #114,366
  • Jul 17, 2012 3:43am Jul 17, 2012 3:43am
EUR/USD

another one i took, bounce of the trend channel and bullish pinbar...

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  • #114,367
  • Jul 17, 2012 4:09am Jul 17, 2012 4:09am
Quoting nc_trader
Hi.
Like what?
like this for example :
http://www.dailyforexjournal.com/ima...al-pin-bar.png
  • #114,368
  • Jul 17, 2012 4:14am Jul 17, 2012 4:14am
Quoting bullzeye
CAD/CHF

a nice one IMHO....formed two pins on daily. My target is the 0.9400 area

Attachment
Hey Bullz ,
did you noticed that both your cad trades are pretty much the same setup ?

Recently i am researching James's videos and what he stresses there every time is that due to small accounts, traders tend to expect too much from their setups. I say that because your final targets are logical, but far from your pretty possible areas that could turn the trade against you. Just a hint
  • #114,369
  • Jul 17, 2012 8:06am Jul 17, 2012 8:06am
hi guys, please see attached image here. as for the eurusd, i anticipate price to be heading till 1.2000. im also going to monitor the bounces of price from the 1.2360 PPZ and 1.2000 BRN and see some pattern formations there.

what do you guys think?
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  • #114,370
  • Jul 17, 2012 8:15am Jul 17, 2012 8:15am
Quoting brzvadeg
Mike, can you explain this? is it possible to think of the sale, after breaking 0.96000?
Attachment
Hey B

To me that would sort of defeat the purpose. It would make more sense to sell the BEOB and watch the trouble area at 9600 and bar highs. Right where price is stalling right now. Selling a break of 9600 is very far off from the beob then you would be basically selling a break of previous resistance and the beob has done it's thing at that point. Unless you mean just as a S/R play, which is not something I would do on such a small amount of information, for me at least

This is why selling a tiny bar like this verse a strong trend is tough. But if we know our trouble area we can at least protect ourselves and see if it can break

Hope that helps
Mike
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  • #114,371
  • Jul 17, 2012 8:42am Jul 17, 2012 8:42am
Quoting mbqb11
Hey B

To me that would sort of defeat the purpose. It would make more sense to sell the BEOB and watch the trouble area at 9600 and bar highs. Right where price is stalling right now. Selling a break of 9600 is very far off from the beob then you would be basically selling a break of previous resistance and the beob has done it's thing at that point. Unless you mean just as a S/R play, which is not something I would do on such a small amount of information, for me at least

This is why selling a tiny bar like this verse a strong trend is...
Thank you. It helped me!
  • #114,372
  • Jul 17, 2012 8:51am Jul 17, 2012 8:51am
Quoting jerbersoftfx
hi guys, please see attached image here. as for the eurusd, i anticipate price to be heading till 1.2000. im also going to monitor the bounces of price from the 1.2360 PPZ and 1.2000 BRN and see some pattern formations there.

what do you guys think?
looks logical J, Good solid areas to watch. I like waiting for the obvious myself. Then we just wait for some good PA

Best
Mike
  • #114,373
  • Jul 17, 2012 8:58am Jul 17, 2012 8:58am
Quoting mbqb11
looks logical J, Good solid areas to watch. I like waiting for the obvious myself. Then we just wait for some good PA

Best
Mike
exactly. and it's all because of this group that i can think like that now. thanks!
  • #114,374
  • Jul 17, 2012 9:21am Jul 17, 2012 9:21am
Took a short just below 1,2300 area..

Why short? =

1: Support at 1 June with a bounce, testing again at 7 july and we went through. Now testing if the support turned resistance 17 July.

2: We also had a nice bounce on weekly TF in 2008 October at 1,2300

3: Round number 1,2300

4: BEOB formed just at that level(4h tf)


+ 69 pip right now...

To BE now...Targeting 1,2200 area for TP1
Kind regards
Attached Image
  • #114,375
  • Jul 17, 2012 9:34am Jul 17, 2012 9:34am
Quoting kojak
Took a short just below 1,2300 area..

Why short? =

1: Support at 1 June with a bounce, testing again at 7 july and we went through. Now testing if the support turned resistance 17 July.

2: We also had a nice bounce on weekly TF in 2008 October at 1,2300

3: Round number 1,2300

4: BEOB formed just at that level(4h tf)


+ 69 pip right now...

To BE now...Targeting 1,2200 area for TP1
Kind regards
TP 1 reached
  • #114,376
  • Edited 11:09am Jul 17, 2012 10:22am | Edited 11:09am
Maybe i shouldnt post this because of lower timeframe and all. Wasnt expecting this fast of a move. Been watching emini DOW for a few months now.
-Great divergence.
-Price has been rejected many times at this area.
-Nice Pinbar
-Pinbar is around the open of US market.

FTA(bottom of box) hit. SL at BE for now. See if FTA/ema's can hold as resistance now.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #114,377
  • Jul 17, 2012 11:33am Jul 17, 2012 11:33am
Quoting rolo1128
Maybe i shouldnt post this because of lower timeframe and all. Wasnt expecting this fast of a move. Been watching emini DOW for a few months now.
-Great divergence.
-Price has been rejected many times at this area.
-Nice Pinbar
-Pinbar is around the open of US market.

FTA(bottom of box) hit. SL at BE for now. See if FTA/ema's can hold as resistance now.
Damn. Put SL just above 12650 before i went for lunch. SL got hit very quickly.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #114,378
  • Jul 17, 2012 11:35am Jul 17, 2012 11:35am
Quoting kojak
TP 1 reached
added to my short on 1,2250 area...
  • #114,379
  • Jul 17, 2012 12:57pm Jul 17, 2012 12:57pm
Hey guys how many and which pairs do you monitor at once? (daily)
  • #114,380
  • Jul 17, 2012 1:18pm Jul 17, 2012 1:18pm
Hi Everyone.
I am here first time and I found here a lot of knowledge.
But I have question about daily time frames. When I entery in trade should I wait for close daily candle or entry earlier, for example on H4 ?

Thanks for reply
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