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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

  • #115,421
  • Aug 13, 2012 12:21pm Aug 13, 2012 12:21pm
Quoting SlapShot
Thank you!

Does anybody have an ea that automatically sets the sl after x pips at a given price? Cause sometimes i only want to reduce my risk instead of oing to be with the sl for the whole position
do the search for mpmt from Steve hopwood
Hero calls followed by margin calls...
  • #115,422
  • Aug 13, 2012 12:22pm Aug 13, 2012 12:22pm
Quoting mbqb11
Hey PP

I actually got in earlier on a 12hr BEOB so my entry is higher and my stop is at breakeven. we have another beob today I am waiting to see what happens next before locking in any profit


Here is my chart from the PF from a few days ago. A bit heavy on info so might seem messy but the info is all there


Best
Mike
locked in some profit myself
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  • #115,423
  • Aug 13, 2012 12:27pm Aug 13, 2012 12:27pm
Quoting PhAnTi'
do the search for mpmt from Steve hopwood
Thanks good advice
  • #115,424
  • Aug 13, 2012 12:28pm Aug 13, 2012 12:28pm
Quoting mbqb11
locked in some profit myself
why the target Mike ?
Hero calls followed by margin calls...
  • #115,425
  • Aug 13, 2012 12:29pm Aug 13, 2012 12:29pm
Quoting SlapShot
Thanks good advice
yeah, but mpmt is a very very complex tool. There might be easier ones that also fit your needs...anyway i dont know them.... mpmt offers everything...
Hero calls followed by margin calls...
  • #115,426
  • Aug 13, 2012 12:46pm Aug 13, 2012 12:46pm
Quoting PhAnTi'
why the target Mike ?
base point of the funnel breakout pattern. Markets love to test these areas. Could be stopped out before easily as I trail down.


Best
Mike
  • #115,427
  • Aug 13, 2012 12:48pm Aug 13, 2012 12:48pm
Quoting mbqb11
base point of the funnel breakout pattern. Markets love to test these areas. Could be stopped out before easily as I trail down.


Best
Mike
thanks for the response.
Printed new low 1 hour ago... seems to be a good one
Hero calls followed by margin calls...
  • #115,428
  • Aug 13, 2012 1:05pm Aug 13, 2012 1:05pm
Watching audcad tonight. Want close below and waiting for retest (PBT&CB). I like break of pinbar (low) and (bearish) gap.
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  • #115,429
  • Aug 13, 2012 1:23pm Aug 13, 2012 1:23pm
Quoting rafstraszek
Watching audcad tonight. Want close below and waiting for retest (PBT&CB). I like break of pinbar (low) and (bearish) gap.
I'm looking also at eurnzd and cadchf (beob here)
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  • #115,430
  • Aug 13, 2012 1:33pm Aug 13, 2012 1:33pm
a little late, but ... try

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  • #115,431
  • Aug 13, 2012 1:43pm Aug 13, 2012 1:43pm
Quoting utiq
a little late, but ... try
I'm in that too, a little earlier though... almost be now Good luck to you (and me!!!)
  • #115,432
  • Aug 13, 2012 1:50pm Aug 13, 2012 1:50pm
Here is my Gold trade for today. Orders were sat last night and have been filled today whilst at work.

The purple lines are monthly levels and the light blue lines are daily levels. Price returned to the monthly and daily HCR levels and could not close above.
The 150 ma is also there right by the levels for added confluence so I placed my sell order. I have closed the majority at the FTA and I am now hoping I get a bit of a run on the rest as price is currently at the top of once of mikes boxes created by the 2 monthly levels.
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  • #115,433
  • Aug 13, 2012 1:55pm Aug 13, 2012 1:55pm
Quoting rafstraszek
I'm in that too, a little earlier though... almost be now Good luck to you (and me!!!)
thanks bro .... will wait
  • #115,434
  • Aug 13, 2012 2:54pm Aug 13, 2012 2:54pm
Quoting mbqb11
locked in some profit myself
fantastic entry mike ! i entered a little later after the weekly BEOB was forming but i think it could be a runner though...

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  • #115,435
  • Aug 13, 2012 4:14pm Aug 13, 2012 4:14pm
Quoting RonaldinhoKuban
Hi all!
My view on USD/JPY
Hi there Kuban

I am not advocating trading the lower timeframes as these are recent trades of mine, but the principle of what I look out for when trading a false breakout is there regardless of timeframes.

Based on your chart I do no see a false breakout that I would take. I like to see either:

a) A heavy area of immediate consolidation and THEN a false break out pinbar (Chart 1)
or
b) A STRONG level THEN a false break pinbar in response to price attempting to leave it (Chart 2)

The wording is slightly different than what is taught here but the pin bars are very prominent and relevant to J16 me thinks
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  • #115,436
  • Aug 13, 2012 4:26pm Aug 13, 2012 4:26pm
Quoting utiq
a little late, but ... try

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Hey there

Although I like your analysis I think your wording and approach can be a little damaging. Building a good psychological foundation is key in this business IMHO, if a trade goes by and and you missed your entry point let it go even if on demo. Bad habits can re-manifest themselves come live trading.

I'm not trying to be derogatory, only I've been there before.

Hope this makes sense?
  • #115,437
  • Aug 13, 2012 5:37pm Aug 13, 2012 5:37pm
Quoting Pinbar
Sweet looking daily area at the 1.5000 area.
Too bad it does not have a monthly or weekly deep swing point lining up with it.

I like that 1.4890, Steve . .It sure worked out great in the past.

Let's see if it still has its magic since Price has now close above it on the Daily
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Indicators show the past. Price Action "Indicates" the future.
  • #115,438
  • Aug 13, 2012 5:41pm Aug 13, 2012 5:41pm
Quoting rafstraszek
Price breaks through and closes above.

Here you have terminology, link from Pinbar's sig: http://www.forexfactory.com/showthre...57#post5442457

cheers

Quoting MrShort
Hello Blaz, welcome.

PBT&CA - Price Break Throught and Close Above.

You should read the Chanya's PDF for a theoretical intro to the concept. It belongs to the Jarroo's Method of Trading and you should check out this thread for a complete image of this concepts.

http://www.forexfactory.com/showthre...38#post5876538

Cheers buddy and wise trading


Thanks rafstraszek and Mr. Short, . .for your help.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #115,439
  • Aug 13, 2012 5:55pm Aug 13, 2012 5:55pm
Quoting gasgas
Heloo Jarroo

I wonder u taking this short right now?

Regards
No I didn't gasgas. ..but the S/R dynamic is definitely there. . . and a shorting opportunity is present right now, as we speak.

HCR/LCS are best traded into that beautiful Space that Mike talks about all the time. This one is a bit limited Space-wise.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,440
  • Aug 13, 2012 6:03pm Aug 13, 2012 6:03pm
Quoting Chanya
GBP NZD acted exactly , EXACTLY as I anticipated it to act ....
Study the charts below to understand what I mean ...

Nice charts Chanya . .
Indicators show the past. Price Action "Indicates" the future.
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