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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

  • #115,761
  • Aug 18, 2012 11:04am Aug 18, 2012 11:04am
Quoting Pinbar
Still waiting for the amplifier to arrive from Beijing.

The cat seems to like posing in front of it, he thinks he is Bob Marley.
lol.

Seriously though, a few compositions dedicated to your recent EUR/GBP trade would be lovely

g.
I believe . . .
  • #115,762
  • Aug 18, 2012 11:05am Aug 18, 2012 11:05am
Quoting yomex_y2
going down to H1 to observe what price was doing, lo ! there was a pin bar. what do you guys think ? On demo by the way
hey Yomex,

where do you think the 1H pin bar is going?

g.
I believe . . .
  • #115,763
  • Aug 18, 2012 11:20am Aug 18, 2012 11:20am
Quoting ghous
lol.

Seriously though, a few compositions dedicated to your recent EUR/GBP trade would be lovely

g.

Yeah, Ghous

I should stamp EUR/GBP on the back of it.

Bob won't let me, he thinks it is his guitar now.
  • #115,764
  • Aug 18, 2012 11:50am Aug 18, 2012 11:50am
Quoting pinbar
still waiting for the amplifier to arrive from beijing.

The cat seems to like posing in front of it, he thinks he is bob marley.
omg that is beautiful wow

dang i think im in love
  • #115,765
  • Aug 18, 2012 12:11pm Aug 18, 2012 12:11pm
Quoting yomex_y2
going down to H1 to observe what price was doing, lo ! there was a pin bar. what do you guys think ? On demo by the way
how about this ? something different.
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A chart helps those who can read it.
  • #115,766
  • Aug 18, 2012 12:34pm Aug 18, 2012 12:34pm
Quoting Gogolak
Thanks M for the quick answer!
This rule is works J16 strategy but also same rule for Jarroo's system as well???
And what about the MM? You use same position size in the counter trend as in the major trend?

Thanks!
G
Hey G

Jarroo's trades are different since they are touch trades. So location of stop losses are a bit different as well. MM should still be similar in that you designate your risk. I personally use 1/4 of my normal risk(that I use on PA) for my touch trades. Trend plays no role for me

Best
Mike
  • #115,767
  • Aug 18, 2012 12:41pm Aug 18, 2012 12:41pm
Quoting Gogolak
Hi everyone!

Could someone tell me what mean "mike bar"?

Thanks
I would be interested to know what a Mike bar is too
  • #115,768
  • Aug 18, 2012 12:57pm Aug 18, 2012 12:57pm
Quoting jarroo
I see your point Steve . .That 28.50 was part of those HCR levels that were present and the Daily did Close above it, there was a potential long trade there. . .

. .but I want to see that Daily Close above all those HCR levels . .a stronger confirmation . .like this "B" candle I drew on my chart. (chart 1)

Chart 2 . .shows another example of this on Swissy not too long ago . .

I was looking to take a Long by the Daily Close above at the .9234 . .but when the next Daily Closed below the HCR level at the .9234, I went short ..at the...
Jarroo, question for you on chart
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  • #115,769
  • Aug 18, 2012 1:23pm Aug 18, 2012 1:23pm
Quoting mbqb11
I would be interested to know what a Mike bar is too
a price action set up with tons of confluence and muuuuch space ??
Slow & steady
  • #115,770
  • Edited 2:58pm Aug 18, 2012 1:54pm | Edited 2:58pm
last month. never give up. thank you who share skills.
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  • #115,771
  • Aug 18, 2012 2:05pm Aug 18, 2012 2:05pm
Quoting Pinbar
As it is the weekend and my new Les Paul just arrived, I thought I would post it. I love this Iced Tea color.

Sexy eh!
Oh man, guitars are my second passion.
What amp are you waiting for ?
  • #115,772
  • Aug 18, 2012 2:11pm Aug 18, 2012 2:11pm
Quoting tinkerbelle
hi guys, have to share my equity from my live mini account. this are results from this month (1st august to 17th). best month ever for me and 3rd in a row very profitable (80%up,120%up,25%up) risking 5% per trade. im reading this thread for 3 years, tradeing second real account and finally feel fantastic. during last 12 months i made confidence and patience ,im finally picky, dont trade tips and trust in myself and dont listen whispers and trade my trades only and...

Great chart
  • #115,773
  • Aug 18, 2012 2:20pm Aug 18, 2012 2:20pm
Quoting Pinbar
As it is the weekend and my new Les Paul just arrived, I thought I would post it. I love this Iced Tea color.

Sexy eh!
I don't play but I appreciate as I love great guitarists especially rock-n-roll stuff. Jeff Beck, Joe Satriani, etc.
  • #115,774
  • Aug 18, 2012 3:10pm Aug 18, 2012 3:10pm
So what does everyone think of this PA Setup. Some of the possible reasons for taking the trade are-

A.) Nice sized BEOB relative to other candles
B.) Located at Swing High
C.) Bounced exactly off the 1.3150 round number
D.) As well as the 61.8 Fib retrace on Weekly/Daily Charts.
E.) Broke the trendline.
F.) Solid bearish close towards the bottom of the candlestick.
G.) With Weekly/Monthly Trend


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  • #115,775
  • Aug 18, 2012 4:50pm Aug 18, 2012 4:50pm
Quoting RonaldinhoKuban
Jarroo, question for you on chart
yeah to me it looks like a buy order should of been placed at that level. Jarroo, any advice ?
  • #115,776
  • Aug 18, 2012 5:22pm Aug 18, 2012 5:22pm
Quoting jarroo

Price Breaking through and Closing Above and Below will reveal alot of false breakout . .meaning once we have that Close Above or Below our levels it will confirm alot of transitions.

Jim
Hi Jarroo. A little confused here, do you mean that these levels that we play often fail in the form of a false breakout ?
  • #115,777
  • Aug 18, 2012 5:24pm Aug 18, 2012 5:24pm
Quoting patapouer
a price action set up with tons of confluence and muuuuch space ??
sounds about right!
  • #115,778
  • Aug 18, 2012 5:24pm Aug 18, 2012 5:24pm
Quoting tinkerbelle
last month. never give up. thank you who share skills.
way to go ! Keep it up!

Best
Mike
  • #115,779
  • Aug 18, 2012 7:07pm Aug 18, 2012 7:07pm
Quoting Rosco_P
So what does everyone think of this PA Setup. Some of the possible reasons for taking the trade are-

A.) Nice sized BEOB relative to other candles
B.) Located at Swing High
C.) Bounced exactly off the 1.3150 round number
D.) As well as the 61.8 Fib retrace on Weekly/Daily Charts.
E.) Broke the trendline.
F.) Solid bearish close towards the bottom of the candlestick.
G.) With Weekly/Monthly Trend

Attachment
Rosco,

I like the way you laid out the multiple points of confluence for this trade. You may be 100% correct that a short is a good move here, but I want to give you a few things to think about.

First, if you zoom way out on the daily the pair has been in a sideways chop.

The chop is located around the 1.30 which would be right below your entry. I understand that you are including a round number of 1.3150 in your analysis, but the 1.30 IMO cannot be ignored. Look how price dances around it on both sides.

Also the trend line that you are saying has been broken really isn't much of a trend line. You would want more touches 3+ touches in my book for a trend line.

Take a look at my two snap shots, you might be able to see why I would be wary.

Again, this thing could shoot down but my guess is it would go to 1.30 and dance around. Need to understand 1.30 as the first trouble area and act from there.

Good sized BEOB but in a weird spot for me. If the high was above all of those. Then its a home run to 1.30 at the least. But that's such a small area to play with.

Just my thoughts. I won't be putting my money on this, it's up to you.

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  • #115,780
  • Aug 18, 2012 7:25pm Aug 18, 2012 7:25pm
Quoting mbqb11
omg that is beautiful wow

dang i think im in love
LOL

Yeah, it is those curves and the flame dress she is wearing.
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