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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

  • #117,301
  • Sep 4, 2012 8:58am Sep 4, 2012 8:58am
Quoting mbqb11
Hey Moly

Welcome to the thread

Yes that can be a sign of a false breakout. Notice that IB is trading into that price flip(PPZ) that you marked in blue). Price may now want to test the lowr box(the other blue line you marked). A bit more advanced though for being new, but good observation none the less

Welcome again to the thread
Mike
thx for the reply, so much
so for make sure about my breakout to down wait for the close under the down line?

my pending orders sit to this marked blue lines right ?
Investing is SIMPLE but NOT EASY
  • #117,302
  • Sep 4, 2012 9:41am Sep 4, 2012 9:41am
Quoting Moly_Cam5
thx for the reply, so much
so for make sure about my breakout to down wait for the close under the down line?

my pending orders sit to this marked blue lines right ?

Hey Moly

I put some notes on a chart. Inside bars are one of the trickier setups for new traders to learn. Good you are watching and testing. I usually recommend to learn the more easier to identify and play setups like pinbars/outsidebars

Hope this helps
Mike
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  • #117,303
  • Sep 4, 2012 9:50am Sep 4, 2012 9:50am
Quoting rafstraszek
yellow one

Weren't you saying to watch wicks, when moving to be?? Maybe I'm going to much in past in looking for fta?? And I should use more recent ones? Where did you put your be??

thanks
First of all , your feed sucks ...

Second of all , if you can afford a little risk , ignore the very minor levels like you used to go to BE ... After all , its a daily chart ...

Look at the chart below ...
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Human
  • #117,304
  • Sep 4, 2012 9:51am Sep 4, 2012 9:51am
Hey all, what do you folks think about EURSEK? It looks to have bottomed and now moving into an uptrend. I marked levels along the way that I think are significant. For a trade, I'm looking for a buy limit order near support around 8.3700, with first FTA around 8.4700. From there, it'd be stepping upwards at each yellow line, with significant resistance around 8.7500, my final target.

Any thoughts?

Thanks,
Slider
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  • #117,305
  • Sep 4, 2012 10:01am Sep 4, 2012 10:01am
Quoting freeze
I did this little exercise, but ended up with way too many lines, not all of them worked that well. Could you put up an explaining chart, or maybe elaborate on where you put your stop-losses on entries?
Quoting Gogolak
I see! Very smart! So, you opened each TF's PBT...

What LVL means?

My Bad brother ... Here is a thing ... I have a few tricks up my sleeve that are not related to this thread ... That chart I shared was in no way something I specifically wanted people to learn or start a topic ... I was just sharing my mistakes of last week ... You don't have to get too complicated ... I open up multiple positions not based on one thing but many things I have learned through out my career ... As the years pass , you learn multiple things ...

Here is a chart you should only concentrate on ... Nothing else matters for you or anybody who is just starting out ... Forget what I do ... Every trader has his own style and management ...

Just keep things simple as this ...
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Human
  • #117,306
  • Sep 4, 2012 10:11am Sep 4, 2012 10:11am
Quoting rafstraszek
Chanya, are you going to buy at yellow on eurcad?? Do you have pending order?? We had pbt&ca, but price didn't retested yet...I don't feel confident in situation like this - when price is retesting after many days...especially when price met other hcr/lcs in her way...
When price returns to a specific untested level after a few days , I have recently adopted a habit to wait for a daily close confirmation ... Safe way is a better way ...
Human
  • #117,307
  • Sep 4, 2012 10:16am Sep 4, 2012 10:16am
Quoting mbqb11
Box trading becomes more difficult for most new traders

Best
Mike
I also cant do it ...
Human
  • #117,308
  • Sep 4, 2012 10:18am Sep 4, 2012 10:18am
Quoting Chanya
I also cant do it ...
Minimize your risk. Use something small like 0.25% risk or less and get some practice in it. That's what I'm doing. I find it hard to stay engaged in my trades when i'm in demo, so I have to put at least something small on the table.

That said, I can't do it either, but I'm trying.
  • #117,309
  • Sep 4, 2012 10:30am Sep 4, 2012 10:30am
Quoting Chanya
First of all , your feed sucks ...
Thanks - I will do that

As I said before I'm using fxpro (new york close) - and I know that a lot people is using its demo to analyzing charts (not trading) - Mike included, so it can't be that bad Unless Mike changed his broker to analyzes...

take care
  • #117,310
  • Sep 4, 2012 10:35am Sep 4, 2012 10:35am
Quoting rafstraszek
Thanks - I will do that

As I said before I'm using fxpro (new york close) - and I know that a lot people is using its demo to analyzing charts (not trading) - Mike included, so it can't be that bad Unless Mike changed his broker to analyzes...

take care
I did not know you were using fxpro ... Its a good one ...
Human
  • #117,311
  • Sep 4, 2012 11:05am Sep 4, 2012 11:05am
Quoting rafstraszek
Thanks - I will do that
Nie sluchaj tej rady. Keep FXPro.

Disclaimer: Not a commercial user. I am in no way affiliated with the above broker.
  • #117,312
  • Sep 4, 2012 11:16am Sep 4, 2012 11:16am
Quoting 5.25
Nie sluchaj tej rady. Keep FXPro.

Disclaimer: Not a commercial user. I am in no way affiliated with the above broker.
No no I was referring to other part of respond... advice about moving to be...

Rany, kolejny Polak, widzę, że jesteśmy wszędzie pozdrowienia...
  • #117,313
  • Sep 4, 2012 11:20am Sep 4, 2012 11:20am
is this good point to buy ?
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Investing is SIMPLE but NOT EASY
  • #117,314
  • Sep 4, 2012 11:29am Sep 4, 2012 11:29am
PBT Power

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I don't need easy. I just need possible.
  • #117,315
  • Sep 4, 2012 11:30am Sep 4, 2012 11:30am
Hi All
Implementing what I am learning, I took this today or rather it was triggered today. Much talked about pair in the forum.
There where many oppurtunities to enter IMO, there was box break out - marked in blue, a PPZ and then my enter above the PPZ was a LCS, which was broken yesterday, I waited for a pullback with 2 buy limits just above the LCS, one was triggered today the other a little lower down was missed. My target is the next HCS.
A question to Jarroo, Mike and others, is the over all trend considered when trading Jarroo / James16 methodology. Or is the idea that if you trading against the main trend, your profits are less?
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  • #117,316
  • Sep 4, 2012 11:33am Sep 4, 2012 11:33am
Quoting Moly_Cam5
is this good point to buy ?
Hi Moly

What's you reasoning behind it? It helps to write a small narative that gives the seniors here something to comment on.

If you're basing it on the way Jarroo trades then it's worth noting daily highs and lows on a daily chart.

If you are refering to the pin'ish, pinbar looking thing it is pretty insignificant in the context of things.

In short, easy pass
  • #117,317
  • Sep 4, 2012 11:40am Sep 4, 2012 11:40am
Quoting 5.25
Hi Moly

What's you reasoning behind it? It helps to write a small narative that gives the seniors here something to comment on.

If you're basing it on the way Jarroo trades then it's worth noting daily highs and lows on a daily chart.

If you are refering to the pin'ish, pinbar looking thing it is pretty insignificant in the context of things.

In short, easy pass
i depend of pinbar forming only dose it work to go long ?
Investing is SIMPLE but NOT EASY
  • #117,318
  • Sep 4, 2012 12:37pm Sep 4, 2012 12:37pm
Quoting moneyrunner
Hi All
Implementing what I am learning, I took this today or rather it was triggered today. Much talked about pair in the forum.
There where many oppurtunities to enter IMO, there was box break out - marked in blue, a PPZ and then my enter above the PPZ was a LCS, which was broken yesterday, I waited for a pullback with 2 buy limits just above the LCS, one was triggered today the other a little lower down was missed. My target is the next HCS.
A question to Jarroo, Mike and others, is the over all trend considered when trading Jarroo / James16...
Hey MR

I wouldn't want to generalize that if you trade against the trend your profits are less. For me it is highly situational to the opportunity and overall story. If the story is significant enough then fighting a trend is not really an issue. If the story/bar situation is less significant then fighting a trend plays a larger role. So you have a range of stories in b/w the easy to see ones to the harder to see ones. Sort of a general answer but its how I view each situation

Best
Mike
  • #117,319
  • Sep 4, 2012 1:27pm Sep 4, 2012 1:27pm
candle of this day "candle eat the previous one" (sry cant remb. the idiom of it in pa) showing an downwards move right ,mike ?
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Investing is SIMPLE but NOT EASY
  • #117,320
  • Sep 4, 2012 2:00pm Sep 4, 2012 2:00pm
Quoting Moly_Cam5
candle of this day "candle eat the previous one" (sry cant remb. the idiom of it in pa) showing an downwards move right ,mike ?
Hey Moly

Yes this is what is called a BEOB. This could very well bring us lower

A few things to watch and also tips

Firstly zoom your chart out a bit. Being too zoomed in skews the bar sizes and will give a smaller bar like this what appears to be larger weight. Next we really want to see this beob have a higher high then that last high from friday

Next we can see a pile of bar highs just under us. Ideally for this to be a stronger signal we want price to close UNDER this current support(former resistance level). If that was the case then there is a good chance that holds as resistance and price retests the brn of 1.25. We can still sell a beob like this and look for that area to hold if it can't close under it, but for new traders I'd like them to look for bigger bars with stronger closes

Still a few hours before the close

Hope this helps

Mike
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