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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

  • #115,721
  • Aug 17, 2012 8:23am Aug 17, 2012 8:23am
Yes it seems thats true...Youre not baby Chanya broker should have been marked You and put into blacklist already LOL
all is eternal - this is good news for people who loves bad news
  • #115,722
  • Aug 17, 2012 8:37am Aug 17, 2012 8:37am
Quoting Winston Reed
Hey DJ IMHO it doesn't really matter. But I believe most here are trading using NY close charts. So it would be easier to follow the Jarooer's charts if you had NY close charts. I don't know what close mine is but I just trade the charts as they are. I think it all come out in the wash.
Good luck dude.
Hi Winston,

Many thanks for taking the time to reply.

I quite like this daily candle method and will keep on trying to spot the setups as they occur.

Regards
Dave
  • #115,723
  • Aug 17, 2012 8:41am Aug 17, 2012 8:41am
Quoting Chanya
It has been absolutely splendid week for me ... Besides from the three losses that I shared yesterday , These are the few ( Not all ) trades that I took and am in right now ... I hope and wish everybody have a great coming next week ... Going for a long due holiday with a family ... See you all next week on monday ...

Jarroo , will be waiting for your reply to the PM's I sent you eager ... Take Care brother ...
Hey, sorry to bother you, my friend, but I have question. When you trade monthly and weekly hcr/lcs (and I mean pure and only, not as confluence to daily) you need weekly/monthly close, or maybe daily close is good enough? Thanks for clearing this up for me.

take care
  • #115,724
  • Aug 17, 2012 8:50am Aug 17, 2012 8:50am
Quoting djcash
Hi Winston,

Many thanks for taking the time to reply.

I quite like this daily candle method and will keep on trying to spot the setups as they occur.

Regards
Dave
Make sure you watch the weekly levels too. Sometimes the daily levels look not so good when you see the weekly. I generally trade in the direction of the weekly.
  • #115,725
  • Aug 17, 2012 8:52am Aug 17, 2012 8:52am
Entered short on price action. Nice rejection candles on this H4 chart.
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  • #115,726
  • Aug 17, 2012 9:04am Aug 17, 2012 9:04am
Hi, all!
I’m new here and new to trading, also going through this huge thread.
Could any one give me a link to some information about supply and demand areas?
Thank you in advance!
  • #115,727
  • Aug 17, 2012 9:18am Aug 17, 2012 9:18am
Quoting AustinWilder
Hi, all!
I’m new here and new to trading, also going through this huge thread.
Could any one give me a link to some information about supply and demand areas?
Thank you in advance!
Hey Austin

Welcome to the thread and trading

Supply is another way to say selling, and demand to say buying. Learn the basics of Support and resistance and you will be in turn learning areas of interest to buyers and sellers. Start going through this thread slowly and you will see many examples and learning situations about S/R and how to apply this using price action. It's a great place to get your feet wet and might seem over whelming to start but will get easier with time

Again welcome to the thread
Mike
  • #115,728
  • Aug 17, 2012 9:18am Aug 17, 2012 9:18am
Quoting Pinbar
I do not see a reason to buy at that level, there is no bullish PA....


Hope this helps and you are doing great on the PPZ levels.
I know how hard it is, I used to end up with a birdcage and nowhere left to trade.
Hey Pinbar - yep. thanks for the confirmation on the PPZ levels. Your 4 chart explanation was extremely cool.

I absolutely blew that demo entry in the first post. I was trading without the required retest of the levels that is so key here. I knew I was approaching this quite wrongly, so yup - that's noted.

So here is why I think we would get long here.

The redline (monthly PPZ) @ 97.458 has seen 'price break through' - that is an there has been exhaustion of orders to drive down price at that level, and we're now looking to see if buy orders are pending here to push price up, when it comes back.

Hope that makes sense?

Here is how I would approach this:

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That is look for a retest of that level - to see we've demand there? Perhaps the stops are slightly too generous, dunno.

I see what you mean about the consolidation to the left..thats on my to do list for today - go through the posts regarding the 'box' areas.

thanks again..
  • #115,729
  • Aug 17, 2012 9:24am Aug 17, 2012 9:24am
Quoting Eio
Gents I know on here you mainly look at FX but was hoping I could get some feedback on the attached corn chart. I’m quite new to the James16 so my thoughts on this might be total rubbish but I’m going to give it a go.

The things I can see going for the BEOB are that it’s formed at a swing high, BRN at 800, is a decent size candle, has above average volume and bearish divergence on the RSI. Things going against are the lack of PPZ (partly due to being at all time highs) and a close FTA at 787. Would this be a trade to take or leave well alone...
Hey Eio

Many of us apply these concepts to outside FX, the more the merrier right?! Glad to see you looking at other markets

Your chart is fantastic. I think this is an example where this trade provides a trader with a few different trade ideas DEPENDING on style(this is key)

We have our FTA dead on and know EXACTLY where price is going

We also now WHERE price should hold.

So we could game plan a few ideas just to show people the different ways many of us do this.

This is a bit more hefty on info. But here are a few ideas.


1. Tight entry and tight stop. Get to b/e , take profits at FTA, or take some off. This allows a nice trade size. Stop can be hidden above left bar high, or multi bar highs(drawn in yellow).

2. Start with our stop above the beob, looking to use the yellow area to REDUCE most of our risk but plan for a larger move potentially to the base of the rising TL. SO we would look to reduce our stop from above the bar to somewhere above the yellow area(and rising TL) to protect our stop and see if we can catch a bigger move down

Very nice big bar and i love that! Swing high, classic J16. This is what new traders should be scanning for. Why fight yourself with other more complicated so-so bars.

Best
Mike
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  • #115,730
  • Aug 17, 2012 9:34am Aug 17, 2012 9:34am
Quoting S_Ferrer
Hey Pinbar - yep. thanks for the confirmation on the PPZ levels. Your 4 chart explanation was extremely cool.

I absolutely blew that demo entry in the first post. I was trading without the required retest of the levels that is so key here. I knew I was approaching this quite wrongly, so yup - that's noted.

So here is why I think we would get long here.

The redline (monthly PPZ) @ 97.458 has seen 'price break through' - that is an there has been exhaustion of orders to drive down price at that level, and we're now looking to see if buy orders...
Yeah, the monthly level is good to wait and see what happens when it gets there.
  • #115,731
  • Aug 17, 2012 9:46am Aug 17, 2012 9:46am
Mike and others, can you please give me some clues or examples, just a bit of taste what you guys teach & do in the private forum? I just want to make sure I won't throw money out of the window given I don't really have that much. So far, I have only heard positive stuff about it.

Thank you,
J
  • #115,732
  • Aug 17, 2012 9:46am Aug 17, 2012 9:46am
Hey everybody!

Im new in this forum and i just would like to say thank you very much to share this awsome system with us!

I have a few question:
-Do you open position also in counter trend and in this situation you use same MM like in the major trand or open smaller position with?
-Not really clear where (and why there) you put the initial (and the others) stop loss.
Could somebody explain this things for me?
Sorry for my poor english!

If someone could explain hungarian for me it would be perfect!
Thank you very much!
Gogolak
Mától én vagyok a Soros!
  • #115,733
  • Aug 17, 2012 9:58am Aug 17, 2012 9:58am
Quoting jsvihla
Mike and others, can you please give me some clues or examples, just a bit of taste what you guys teach & do in the private forum? I just want to make sure I won't throw money out of the window given I don't really have that much. So far, I have only heard positive stuff about it.

Thank you,
J
Have you tried the visitor area? Is a pretty good intro.
  • #115,734
  • Aug 17, 2012 10:05am Aug 17, 2012 10:05am
Quoting jsvihla
Mike and others, can you please give me some clues or examples, just a bit of taste what you guys teach & do in the private forum? I just want to make sure I won't throw money out of the window given I don't really have that much. So far, I have only heard positive stuff about it.

Thank you,
J
Well, there are soooo many videos in the pf. And to be honest, forum posts can't touch videos. It is the same material, but details are to a whole new level. You will not be throwing your money out the window. Just prepare A LOT of time, cause you will need it to go through all the good stuff
  • #115,735
  • Aug 17, 2012 10:20am Aug 17, 2012 10:20am
Quoting mbqb11
Hey Eio

Many of us apply these concepts to outside FX, the more the merrier right?! Glad to see you looking at other markets

Your chart is fantastic. I think this is an example where this trade provides a trader with a few different trade ideas DEPENDING on style(this is key)

We have our FTA dead on and know EXACTLY where price is going

We also now WHERE price should hold.

So we could game plan a few ideas just to show people the different ways many of us do this.

This is a bit more hefty on info. But here are a few ideas.


1....
Thanks Mike, I really appreciate the feedback.

I was thinking that I would have wanted to play this with a tight stop and the stop would be below the high of the BEOB, but wasn’t sure of where exactly it should be. Seeing the different options is really helpful, thanks.

Out of interest would you generally still play this kind of setup on a retracement, or would it be more the case of playing it on a break of the BEOB, or both?

Thanks
  • #115,736
  • Aug 17, 2012 10:39am Aug 17, 2012 10:39am
Quoting jsvihla
Mike and others, can you please give me some clues or examples, just a bit of taste what you guys teach & do in the private forum? I just want to make sure I won't throw money out of the window given I don't really have that much. So far, I have only heard positive stuff about it.

Thank you,
J
Hey J

The best way to know what we do in the PF is read this thread or first few hundred pages. There are no secrets, just more tools to teach(videos/webinars/segregated forum/text), more detail, more contact and examples/access to information. It's easier to teach instead of one giant thread where the main thing us that have been around and work on the site are to hammer home the basics. Easier to explore in more detail our methods in the PF.

You can also check out some of the free guest videos as well.

Don't strap yourself for cash my friend we aren't going anywhere, we don't want anyone using money they can't afford on the access

If you have more questions let me know

Mike
  • #115,737
  • Aug 17, 2012 10:40am Aug 17, 2012 10:40am
Quoting Eio
Thanks Mike, I really appreciate the feedback.

I was thinking that I would have wanted to play this with a tight stop and the stop would be below the high of the BEOB, but wasn’t sure of where exactly it should be. Seeing the different options is really helpful, thanks.

Out of interest would you generally still play this kind of setup on a retracement, or would it be more the case of playing it on a break of the BEOB, or both?

Thanks
Hey Eio

Glad it helped

You could certainly play on a retrace but I think playing a break of the beob/ and rising TL gives more confidence to this bar and a better area to protect our trade once in. Where as playing a retrace is still valid but we still have that rising TL (that has played a strong role_) to deal with

Best
Mike
  • #115,738
  • Aug 17, 2012 10:42am Aug 17, 2012 10:42am
Quoting Gogolak
Hey everybody!

Im new in this forum and i just would like to say thank you very much to share this awsome system with us!

I have a few question:
-Do you open position also in counter trend and in this situation you use same MM like in the major trand or open smaller position with?
-Not really clear where (and why there) you put the initial (and the others) stop loss.
Could somebody explain this things for me?
Sorry for my poor english!

If someone could explain hungarian for me it would be perfect!
Thank you very much!
Gogolak...
Hey G

Welcome and glad to have you

Your english is great! I am amazed when you guys say that. Better than mine that's for sure LOL

There are many ways to place our stop loss. They have advantages and disadvantages

The most basic way is above/below the bar setup. So if you have a BUOB to go long it would go below the low. This is because a BUOB is not invalidated until that low breaks.

Other stop loss placements can be using previous bar highs/lows on a retracement of the bar. Or using a fib of the bar to get a tighter stop.. Also very valid as well.

Let me know if you have more questions
Mike
  • #115,739
  • Aug 17, 2012 2:33pm Aug 17, 2012 2:33pm
I think my audjpy trade is gone for me...price didn't react to hcr and daily candle will probably close below it (almost beob). I think I'll close it before market closure, and try to go short with ghous method in Monday. And price also seems to lose momentum (divergence) so price going south is quite likely.

What do you think guys?
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  • #115,740
  • Aug 17, 2012 4:04pm Aug 17, 2012 4:04pm
Quoting rafstraszek
I think my audjpy trade is gone for me...price didn't react to hcr and daily candle will probably close below it (almost beob). I think I'll close it before market closure, and try to go short with ghous method in Monday. And price also seems to lose momentum (divergence) so price going south is quite likely.

What do you think guys?
This is how I see it...the first range market is acting now as support for the new one.
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Nothing personal,just business
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