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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

  • #119,141
  • Sep 27, 2012 7:01am Sep 27, 2012 7:01am
Quoting Pinbar
Stopped out at BE for the last third, at the daily level.
Friday is a bad day for longs.
I closed it for 40 pip loss...

missed EURNZD today morning.... watching EURSEK.
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all is eternal - this is good news for people who loves bad news
  • #119,142
  • Sep 27, 2012 7:29am Sep 27, 2012 7:29am
this one running nicely... sad that not on my real account LOL
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all is eternal - this is good news for people who loves bad news
  • #119,143
  • Sep 27, 2012 7:58am Sep 27, 2012 7:58am
the bamm of mike done and wait for the bearish but it going up with start of the day nothing else ...
is this manipulation i see ? i mean the manipulation of the banks after the cons. or what ?
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Investing is SIMPLE but NOT EASY
  • #119,144
  • Sep 27, 2012 8:27am Sep 27, 2012 8:27am
Quoting Johan N
Last evening I entered short on Gold. Big mistake...
I had been watching Gold for a long time and wanted to catch the reversal of it...
I entered the trade because I felt I was missing the trade, I was stressed and did it in a hurry. I often feel like this and ofcourse again it came back on me! Never enter trades in a hurry.
I think I have learned it now.
This is just demo trading so it is a good learning opportunity.
I think many beginners does this... I didnt see the obvious mistakes when I enterd the trade.
I see them now... And I learn...
Please change your comment letters to white colour. It is unreadable
I also see bearish signs and entered on a retest of consolidation. In a drawdown now. Cant say I made a mistake. As Bullzeye commented me chart its GOLD
Quoting bullzeye
Attachment
. I rarely try to trade metals. I suppose this trade is just one of the losing one. We must take it. But again I cant say it was a bad setup.
If not up, then down, otherwise sideways :-)
  • #119,145
  • Sep 27, 2012 8:38am Sep 27, 2012 8:38am
Quoting nwo-trader
Not an A+ trade but I think a retrace to one of these HCR flippers is pretty likely before a potential continuation of the BUOB. Something I'm watching, no plans to trade it.
that cracked me up!

LOL
  • #119,146
  • Sep 27, 2012 8:47am Sep 27, 2012 8:47am
Quoting Johan N
Last evening I entered short on Gold. Big mistake...
I had been watching Gold for a long time and wanted to catch the reversal of it...
I entered the trade because I felt I was missing the trade, I was stressed and did it in a hurry. I often feel like this and ofcourse again it came back on me! Never enter trades in a hurry.
I think I have learned it now.
This is just demo trading so it is a good learning opportunity.
I think many beginners does this... I didnt see the obvious mistakes when I enterd the trade.
I see them now... And I learn...
yes great lesson Johan, we never want to rush in with our orders. That's usually a sign that something is wrong. You get rushed to not wanting to miss the move. We have all been there that is for sure.

This is EXACTLY what demo is for. Wait for that great PA, it will show up

best
Mike
  • #119,147
  • Sep 27, 2012 8:51am Sep 27, 2012 8:51am
Quoting tinkerbelle
Hi all,
Mike can i please ask you what was your swap on usdchf pin weekly trade from august 2011 if you compare it with profit (for example swap/profit was 1:20 ... ) thank you
Hey tinker

I posted what it was in here a bit back(can't seem to find that post right now but you can dig for it LOL ) , it was pretty much negligible though I remember

I'd have to look it up and do the calculation again

Best
Mike
  • #119,148
  • Sep 27, 2012 9:07am Sep 27, 2012 9:07am
I dont mind loosing on demo... it only improves my way of trading.
Majestic, I will use white text in the future (:
  • #119,149
  • Sep 27, 2012 10:37am Sep 27, 2012 10:37am
EUR/ZAR potential setup.
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  • #119,150
  • Sep 27, 2012 10:51am Sep 27, 2012 10:51am
Quoting mbqb11
Hey TS

I have my TLs drawn the same here.

I would not look to sell that pinbar as it is in a very tight range and traffic making it very difficult. This is why we want to find them at cleaner swing points otherwise it makes it very tricky. I prefer a breakout to go long and will be watching if we break out of the TLs


Best
Mike
Thanks Mike for that comment. It really saved my money yesterday. Or today
Just after price fell under 1.5200 (that was crazy btw), formed nice beob on hourly tf, continued to decline and made even better beob on h4 on my broker's datafeed i knew for sure that daily pinbar will be triggered. But since 4h beob was never really valid (was taken for around 5 pips but didn't close below beob even on 5 min chart) and soon after price showed some bullish action i remembered ts's suggestion and your's view on that cross and closed it with little, but at least profit.

And here's question about triggering J16 price action bars. When do you consider pinbars, beobs etc valid? I'm reading whole thread from the begging and i'm now in era when you showed up. Remember you were saying that pa bar is activated when is broken by 1-2 pips. That was more than 5 and a half year ago. Do you change your view on that with experience?

Personally i need to see close below/above PA bar on lower time frame before i open position.

Thanks
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  • #119,151
  • Sep 27, 2012 10:56am Sep 27, 2012 10:56am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting Audioslave
And here's question about triggering J16 price action bars. When do you consider pinbars, beobs etc valid? I'm reading whole thread from the begging and i'm now in era when you showed up. Remember you were saying that pa bar is activated when is broken by 1-2 pips. That was more than 5 and a half year ago. Do you change your view on that with experience?
Thanks
Hi A,

I'm not Mike, but I think he deems a PA bar valid if the bar breaks by 10 pips + the spread.

I think a 10 pip buffer is generally the accepted rule for valid PA bars in this forum, unless you play a retrace entry.

I think Mike will confirm.

Kind Regards
Sanil
  • #119,152
  • Sep 27, 2012 11:29am Sep 27, 2012 11:29am
Thanks Sanil

So mine is pretty much the same. I use close on lower time frame rule with 11 pips buffer for daily PA bars. Didn't make research for lower TF PA bars like on H1 or H4 but i'm using 5-7 pips buffer for them with close on lower time frame.

Cheers
  • #119,153
  • Edited 12:06pm Sep 27, 2012 11:55am | Edited 12:06pm
Quoting Moly_Cam5
is this manipulation i see ? i mean the manipulation of the banks after the cons. or what ?
That makes me laugh dude. Why do believe so? because it doesn't get in your direction as you expected? LOL
  • #119,154
  • Sep 27, 2012 11:58am Sep 27, 2012 11:58am
Quoting Magestic
Please change your comment letters to white colour. It is unreadable
I also see bearish signs and entered on a retest of consolidation. In a drawdown now. Cant say I made a mistake. As Bullzeye commented me chart its GOLD . I rarely try to trade metals. I suppose this trade is just one of the losing one. We must take it. But again I cant say it was a bad setup.
hey my friend, confirmation is the key word in such of trends, you know don't get impatient
  • #119,155
  • Sep 27, 2012 12:11pm Sep 27, 2012 12:11pm
Quoting Audioslave
Thanks Mike for that comment. It really saved my money yesterday. Or today
Just after price fell under 1.5200 (that was crazy btw), formed nice beob on hourly tf, continued to decline and made even better beob on h4 on my broker's datafeed i knew for sure that daily pinbar will be triggered. But since 4h beob was never really valid (was taken for around 5 pips but didn't close below beob even on 5 min chart) and soon after price showed some bullish action i remembered ts's suggestion and your's view on that cross and closed it with little, but...
Hey AS

My buffers vary. They aren't a set ten pips etc. It's always based on the timeframe and what else is around. I want my entry to depend on more then just an arbitrary number for my trades. With that said here is a general guideline with which they tend to fall in with

1hr 7-12 pips
4hr 10-15 pips
daily 12-20 pips
weekly 15-30 pips

That's a rough guideline but as I said I am looking at things like bar highs/lows s/r, round numbers etc when deciding an exact buffer. I usually just eyeball it to be honest

Hope that helps
Mike
  • #119,156
  • Sep 27, 2012 12:13pm Sep 27, 2012 12:13pm
Quoting Slider20
I went long on EUR/AUD on today's candle because:

- Price broke above yesterday's high.
- Price had broke through a PPZ and is now using it as support.
- No close below BRN 1.2400.
- Upwards trendline forming
- Space to run if price moves up, with a target at 1.3000.

It looked like I had enough criteria to enter long, but I feel like I'm missing something. Any thoughts?
check always the higher timeframe before you pull the trigger, look on the weekly if you trade the daily...

it looks like a buy for you now?

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  • #119,157
  • Sep 27, 2012 12:22pm Sep 27, 2012 12:22pm
Quoting bullzeye
hey bro,

EUR/NZD is a good one...look on the weekly: nice downtrend and an BEOB, i have my self a sellstop order there

Attachment
EUR/NZD

this one was activated...

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  • #119,158
  • Sep 27, 2012 12:47pm Sep 27, 2012 12:47pm
Hi Jarroo, Im currently watching this pair, looking for a long position if we can close above the HCR/consolidation area. What are your thoughts on this setup ?

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Cheers
Dan
  • #119,159
  • Sep 27, 2012 12:51pm Sep 27, 2012 12:51pm
Quoting bullzeye
check always the higher timeframe before you pull the trigger, look on the weekly if you trade the daily...

it looks like a buy for you now?

Attachment
No. It looks terrible now. Never saw the trendline. And I'm greatly relieved. I'd rather know I misread it than wonder why it failed. I have control over that mistake. Thank you.
  • #119,160
  • Sep 27, 2012 1:15pm Sep 27, 2012 1:15pm
Quoting bullzeye
That makes me laugh dude. Why do believe so? because it doesn't get in your direction as you expected? LOL
no bullzeye didnt blame banks for this but this is common happen after Accumulation it called Manipulation and Mani. happend before the explosive breakout ... here the chart
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