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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

  • #118,741
  • Sep 20, 2012 12:51am Sep 20, 2012 12:51am
Quoting Sf13
my next trade using this thread method
very good buddy, i think mike would be liking this one too. A nice PPZ area and good looking BEOB, Meshka mentioned this one already ...

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  • #118,742
  • Sep 20, 2012 12:55am Sep 20, 2012 12:55am
Quoting bullzeye
very nice trade pinbar i am still also in this one, my target is also around the 0.9900 area
Good job.

But, I am not messing around with it at that Daily Swing Low, this H4 50 fibo area & box, either hold or, it can take me out at BE+.
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  • #118,743
  • Sep 20, 2012 1:17am Sep 20, 2012 1:17am
Quoting bullzeye
very good buddy, i think mike would be liking this one too. A nice PPZ area and good looking BEOB, Meshka mentioned this one already ...

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thanks too you too

Quoting bullzeye
very good buddy, i think mike would be liking this one too. A nice PPZ area and good looking BEOB, Meshka mentioned this one already ...

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and this.
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  • #118,744
  • Sep 20, 2012 1:50am Sep 20, 2012 1:50am
Quoting Donkey
Hey dan, not jarroo, but I thought I would give some thoughts (most are on the charts) about how I might play the setup you mentioned (I took a loss on a similar set up a few weeks ago). First question I would ask, is what was your entry and what was your stop? Did you take a full Risk loss?
Nice one D.!!

For me, the following have made a huge difference:
1. Working with weekly charts - This works well for me since I work full time. Gives me more time to react and allows me to pull the plug on a trade that is not working without a full bar loss. Needless to say, it is easier to reduce risk on the weeklies because there is more time to react.

2. Objective swing highs and lows - In addition to the concepts mentioned here (BRN, PPZs etc), what tends to help me on the weeklies is an objective criterion like the swing high being a high higher than three bars to either side of it. Again, if you are talking dailies, this might be 5 bars to either side of it.

Ganesh
  • #118,745
  • Sep 20, 2012 2:21am Sep 20, 2012 2:21am
Im rookie on forex and im curious in your opinion about usd/cad. Its looking short to me. RN 9800, nice weekly Res and pinbar on H4 TF.

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  • #118,746
  • Sep 20, 2012 2:31am Sep 20, 2012 2:31am
Quoting Sf13
thanks too you too



and this.
hi..

gbp usd divergence is a "hidden divergence" its is week divergence...

but i see a different setup on gu.. "inside bar setup"... lets see if this time is a clean breakout..

regards.
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Peace Yo!
  • #118,747
  • Sep 20, 2012 2:35am Sep 20, 2012 2:35am
Hi there,

I've been messing a bit these last few days, trying to oversimplify things and mixing everything all together. Just finished with melted brain and losses on my (demo!) account

So, I came back to the basics and thought I would post some potential setups I'm thinking about and ask for some advice...

Here are few charts with ideas jotted on it. Would really love (need??) to hear from you guys!
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Slow & steady
  • #118,748
  • Sep 20, 2012 3:10am Sep 20, 2012 3:10am
Everyone here is talking about Audusd . Is this a good place for a short trade with Jarroo's method?
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  • #118,749
  • Sep 20, 2012 3:26am Sep 20, 2012 3:26am
Quoting benyo
Im rookie on forex and im curious in your opinion about usd/cad. Its looking short to me. RN 9800, nice weekly Res and pinbar on H4 TF.

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hi benyo...

im personally would not any short trade on usdcad...
reason:
1. class A divergence on stoch at daily and class b divergence on rsi..
2. weekly chart almost show a bullish enfuelging pattern (need to wait until this friday)...
3. higher tf rules lower tf...

i could be wrong...

regards.
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Peace Yo!
  • #118,750
  • Sep 20, 2012 4:02am Sep 20, 2012 4:02am
Quoting 5.25
It can be for a number of reasons but is fundamentally discretionary and up to the trader him/herself. You could however chose several wicks that may line up to determine the edge of the zone, or use the close of the bar etc, or average them out.

I don't have a set of rules but prefer to let price and the chart determine the outcome. For me it is just a graphic and a zone that tells me what price is doing at that moment in time i.e. consolidating. It can be used to determine the story (as Mike likes to put it) to support the rational behind your...

thanks alot. will try learn this. thanks mike also for the chart illustration.

i appreciate your replies guys. this thread is just fabulous
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #118,751
  • Sep 20, 2012 4:08am Sep 20, 2012 4:08am
[quote=mrluckystar;6028406]hi benyo...

im personally would not any short trade on usdcad...
reason:
1. class A divergence on stoch at daily and class b divergence on rsi..
2. weekly chart almost show a bullish enfuelging pattern (need to wait until this friday)...
3. higher tf rules lower tf...

i could be wrong...

hi

Thx for your response. There's some reason to go short, and some on long. Time will show us which direction is preferred. So waiting ON, impatience OFF.
  • #118,752
  • Sep 20, 2012 4:36am Sep 20, 2012 4:36am
Quoting bullzeye
a good one

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nice trade sir...

It works...
  • #118,753
  • Sep 20, 2012 4:38am Sep 20, 2012 4:38am
Hey guys. Id like to hear your thoughts about this.

Is very high risk (30-50%) just stupid and doomed strategy?

I like to speak more about expectancy than just risk procent.. Expectancy is defined as loss times possibility of a loss plus win times possibility of a win. So if we are extremelly picky, its possible to have the expentancies of the trades very high and profitable.

My scenario is here to have "risk account" and more conservative account of course where the main trading would happen. Picky means to me very obvious stories on daily and weekly and pretty aggressive tp and sl trailing..

Please any comments is appreciated. Thank you j16 traders again, this thread has made me a trader.

Take care,
Nuc
  • #118,754
  • Sep 20, 2012 5:11am Sep 20, 2012 5:11am
A sweet Buy trade!
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Price Is The Best Indicator Itself.
  • #118,755
  • Sep 20, 2012 5:16am Sep 20, 2012 5:16am
Quoting nuclear62
Hey guys. Id like to hear your thoughts about this.

Is very high risk (30-50%) just stupid and doomed strategy?

I like to speak more about expectancy than just risk procent.. Expectancy is defined as loss times possibility of a loss plus win times possibility of a win. So if we are extremelly picky, its possible to have the expentancies of the trades very high and profitable.

My scenario is here to have "risk account" and more conservative account of course where the main trading would happen. Picky means to me very obvious stories on daily...
It sounds like you are talking about gambling, when you talk about the possibility of loss. Nobody in their right mind let alone anyone who is a trader, would risk 50% of their account on a single trade. Or even 5% for that matter.
  • #118,756
  • Sep 20, 2012 5:18am Sep 20, 2012 5:18am
I am long EURJPY here. lets see what happens. maybe too early but I smell some rejection on H4 TF around this LCS level, lets see if pinbarish candle will close properly.
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all is eternal - this is good news for people who loves bad news
  • #118,757
  • Sep 20, 2012 5:56am Sep 20, 2012 5:56am
Quoting gadogado
Sir mike... what is your opinion for this BEOB?
now your talking buddy

Here was my chart to the group yesterday
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  • #118,758
  • Sep 20, 2012 6:01am Sep 20, 2012 6:01am
Quoting Sf13
my AU went to 114 pips profit about 2% of my account. thanks every one
way to go SF


Best
Mike
  • #118,759
  • Sep 20, 2012 6:08am Sep 20, 2012 6:08am
Quoting Pinbar
There she blows.

Edit: According to the length of the neckline, if we make it through the TL and the obvious SL at 0.9800, it could hit its TP3.
Great steve, really good patience and use of S/R to be patient

Best
Mike
  • #118,760
  • Sep 20, 2012 6:09am Sep 20, 2012 6:09am
Quoting mrluckystar
looks like pinbar (evening star setup) with divergence is a strong signal (class A setup)...
sell@ 1.0532...

before and current chart..

regards.
Yep that is a classic way to look for pinbars. It was also off a very strong TL on the weekly chart. The only thing was that BRN of 1.05 which is fine b/c it wasn't a huge important BRN really for awhile. But look for a HARD break of that area like we got

Good charts MLS

Mike
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