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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

  • #115,261
  • Aug 9, 2012 7:14am Aug 9, 2012 7:14am
Quoting rafstraszek
I will be BE before price gets there
This is not the Jarroo methodology then?
The Jarroo methodology would be that we would buy at this level, not sell.
  • #115,262
  • Aug 9, 2012 7:53am Aug 9, 2012 7:53am
Quoting jsvihla
Friends,

there is an obvious thing that anything we see on charts is a matter of the time frame we use. What worries me is how this specifically applies to pinbars. What troubles me is that you can look at a few bars and make them into pinbars. This would be a pin bar on a 2 day chart, that would be a pin bar on a 6 day chart, this would be a pinbar on a 12 day chart and so on and on. Basically, you can always adjust the number of days/bars to see a pin bar anywhere.

I post here a chart to show you what I mean.

It's been reiterated that...
Hey J

I think it's best not to get too ahead of yourself and stick to the basic timeframes like daily and weekly. You are correct to an extent that all we are looking at is an aggregation of price. Nothing more. But a pinbar is only a small part of the story. If you read up a few posts I list mistakes traders make and this would be number one. Thinking a pinbar is a pinbar. A pinbar is a piece of information that should be used with other information.

Some of what you have is correct on your chart. But if you re-aggregate bars to form a pinbar don't forget the entire chart then needs to be re-aggregated. Then the question would be what is the location of that bar, the confluence, the story etc.


Many of us DO this. But in the context of the story and reasons to enter. What we see on our charts is just a window into historical price. I took a 12 hour BEOB recently. My charts were in a 4hour view but price was telling me DOWN the beob was simply part of that story and trigger.

So you are not wrong, but don't over complicate things too much. Stick to just the basics as James teaches in the first few hundred pages as you get your feet wet

Best
Mike
  • #115,263
  • Aug 9, 2012 7:59am Aug 9, 2012 7:59am
Quoting Rust
broadcasting live

Attachment

UPDATE : ...and we are at breakeven in just minutes
So far so good. There is a serious chance the 1.55 to bounce price strong.

I am sore when it goes like this !
Just a little spread away from hitting my TP . I don't like it !
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  • #115,264
  • Aug 9, 2012 8:01am Aug 9, 2012 8:01am
Quoting Rust
I am sore when it goes like this !
Just a little spread away from hitting my TP . I don't like it !
Attachment
A good idea Rust I use

Set an alarm just above your take profit. Tighten your stop way up. No point to give all that back for a few pips, rather lose a few pips if stop gets hit tighter trailed down

Something I tend to do. OF course it happens sometimes either way but if you notice it happens too often

Best
Mike
  • #115,265
  • Aug 9, 2012 8:14am Aug 9, 2012 8:14am
Hello again friends... today I think I took the day to bother you all with newb questions!!

What MAs do you think it would be of most value to look for convergence in Daily charts?

I heard James mentioning the 150 and the 365 EMAs! What do you guys think?

Cheers
  • #115,266
  • Aug 9, 2012 8:14am Aug 9, 2012 8:14am
Quoting mbqb11
A good idea Rust I use

Set an alarm just above your take profit. Tighten your stop way up. No point to give all that back for a few pips, rather lose a few pips if stop gets hit tighter trailed down

Something I tend to do. OF course it happens sometimes either way but if you notice it happens too often

Best
Mike
Thanks Mike ! I like the idea !
By the way I did set an alarm, but somehow i was in the kitchen, cooking and talking on the phone and didn't hear it
I desperately need to play some starcraft to cool down now
  • #115,267
  • Aug 9, 2012 9:58am Aug 9, 2012 9:58am
Quoting Pinbar
This is not the Jarroo methodology then?
The Jarroo methodology would be that we would buy at this level, not sell.
Sell on the retrace, at top of grey box.
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  • #115,268
  • Aug 9, 2012 10:00am Aug 9, 2012 10:00am
GBPnzd is going nice - BE already.
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  • #115,269
  • Aug 9, 2012 10:28am Aug 9, 2012 10:28am
Quoting mbqb11
here is my updated chart


Mike
updated
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  • #115,270
  • Aug 9, 2012 10:52am Aug 9, 2012 10:52am
nice thread. hope to catch up. sooo many posts


cheers
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #115,271
  • Aug 9, 2012 10:54am Aug 9, 2012 10:54am
Today I'm watching for jarroo method:
cadchf for long
audnzd for long
cadjpy for long
audchf for long
euraud for short
eurcad for short
eurusd for short
audcad for short
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  • #115,272
  • Aug 9, 2012 10:57am Aug 9, 2012 10:57am
quick question to test my usage of an inside bar...Would this be a proper textbook usage of it?

Picture says all, it is from recent history GBPCHF
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  • #115,273
  • Aug 9, 2012 10:57am Aug 9, 2012 10:57am
Continue:

Probably I won't take all lot of them are similiar, but they are on my radar...
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  • #115,274
  • Aug 9, 2012 11:02am Aug 9, 2012 11:02am
Quoting rafstraszek
Today I'm watching for jarroo method:
cadchf for long
audnzd for long
cadjpy for long
audchf for long
euraud for short
eurcad for short
eurusd for short
audcad for short
You are willing to take so many positions at once ???

There is something wrong raf , your GBPNZD chart does not match mine ... What broker do you use ?
Human
  • #115,275
  • Aug 9, 2012 11:07am Aug 9, 2012 11:07am
Quoting Chanya
You are willing to take so many positions at once ???

There is something wrong raf , your GBPNZD chart does not match mine ... What broker do you use ?
FxPro, can you post yours?

No, probably not all only nicer ones and probably even if I would put pendings at all, only part of them would be hit in the nearest time. And some of them would be out, before other part pending orders would be hit

cheers
  • #115,276
  • Aug 9, 2012 11:10am Aug 9, 2012 11:10am
Quoting deltaskelta
quick question to test my usage of an inside bar...Would this be a proper textbook usage of it?

Picture says all, it is from recent history GBPCHF
I don't like them - I mean inside bars.

I give you an advise - first perfect pinbars and outside bars - my opinion of course.

But lvl seems nice - I would take this based on jarroo, but I didn't have this pair on my charts o.O
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  • #115,277
  • Aug 9, 2012 11:12am Aug 9, 2012 11:12am
Raf , this is my chart ...

Hey Mike , I would like to know your point of view on this one ... I am not fond of patterns and stuff but thus is just too clear to ignore ... Whats your say on this one ??? I should not be hoping for my long to be a runner I guess ...
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Human
  • #115,278
  • Aug 9, 2012 11:21am Aug 9, 2012 11:21am
Quoting Chanya
Raf , this is my chart ...

Hey Mike , I would like to know your point of view on this one ... I am not fond of patterns and stuff but thus is just too clear to ignore ... Whats your say on this one ??? I should not be hoping for my long to be a runner I guess ...
Interesting...FxPro always seems like a nice broker...
It looks like HnS - I think that this pattern is good only as a reverse one so - at top (shape like this one) and bottom(reversed) of trend. I don't think it will work good at big consolidation, in which we are now.

cheers


And Chanya, sorry, buy I also don't hope for your runner I hope for mine, as we are on opposite sides of market now ;D
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  • #115,279
  • Aug 9, 2012 11:22am Aug 9, 2012 11:22am
Quoting rafstraszek
I don't like them - I mean inside bars.

I give you an advise - first perfect pinbars and outside bars - my opinion of course.

But lvl seems nice - I would take this based on jarroo, but I didn't have this pair on my charts o.O
yes it seems it would work in the jarroo sense, but touch trades make me uncomfortable so I personally always like to look for some bar art...
  • #115,280
  • Aug 9, 2012 11:23am Aug 9, 2012 11:23am
Quoting rafstraszek
Interesting...FxPro always seems like a nice broker...
It looks like HnS - I think that this pattern is good only as a reverse one so - at top (shape like this one) and bottom(reversed) of trend. I don't think it will work good at big consolidation, in which we are now.

cheers
What big consolidations are you talking about ? I see it supremely trending !!!
Human
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