james16 Chart Thread | Page 5994 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #119,861
  • Oct 20, 2012 5:46pm Oct 20, 2012 5:46pm
Quoting Barefoot
Hi Farb,
I think Griz is talking about a 99% pull back to where the Stop Loss would be on that entry. If the entry was at the break of that 4hr BEOB at around 1.03550, there was a pullback to 1.04000+ before the trade went into profit.

The logical place for a SL on that trade would have been around 1.04200, so there was around a 99% pullback to where the stop was placed.
Hi BareFoot,
Would the BEOB be a confirmation of the PB? Would one not consider the PB on its own merit?
Thx/Farshad
Attached Image (click to enlarge)
Click to Enlarge Name: capture_20102012_163852.jpg Size: 146 KB
  • #119,862
  • Oct 21, 2012 12:35am Oct 21, 2012 12:35am
According to what I have read (I think J16 first mentioned this early in this thread) the third bar should not make too much headway beyond the first bar of the pinbar setup. Without the bearish engulfing bar after the third bar I would not consider it a sell signal.
  • #119,863
  • Oct 21, 2012 4:46am Oct 21, 2012 4:46am
Quoting farbeh
Hi BareFoot,
Would the BEOB be a confirmation of the PB? Would one not consider the PB on its own merit?
Thx/Farshad
PB . YES . if there is any SR/PPZ level

BEOB . NO . the most ugly one a have ever seen, close is too week for me ( we want se close much lower)

my opinion
  • #119,864
  • Oct 21, 2012 5:53am Oct 21, 2012 5:53am
Quoting bullzeye
i notice a slight note of sarcasm in your post, are you jealous?
I was never a big fan of H4 patterns. Different feeds provide different ones and may be confusing. I think it's better to stick with Hourly and Daily.

This one on Aussie worked out but You sold a break of H4 BEOB, while on H1 you were selling right into support. You didn't wait for price to close below and you entered on bar which formed a pinbull. And that's sort of gambling Later when price moved again below that support it was washed out by price action and you wouldn't have opportunity to sell it on pullback so there would be no trade at all on this.

It ended well for you, but you didn't read whole story behind that H4 BEOB. 40 pips drawdown can cause heart attack. Watch out for that.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 12.10.21 audusd h1.gif Size: 20 KB
  • #119,865
  • Oct 21, 2012 8:43am Oct 21, 2012 8:43am
Quoting bullzeye
i notice a slight note of sarcasm in your post, are you jealous?
Nope. It was a harmless "joke"

I just noticed in your charts that you allow huge drawdowns. I guess your trade management style is "Set and Forget". If it works for you , cheers

GL
I don't need easy. I just need possible.
  • #119,866
  • Oct 21, 2012 9:11am Oct 21, 2012 9:11am
Hey guys!
what do you think about this ones for monday?

audcad
cadchf
eurnzd
gbpchf
usdcad
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 22 audcad.png Size: 22 KB
Click to Enlarge Name: 22 cadchf.png Size: 23 KB
Click to Enlarge Name: 22 eurnzd.png Size: 23 KB
Click to Enlarge Name: 22 gbpchf.png Size: 26 KB
Click to Enlarge Name: 22 usdcad.png Size: 26 KB
Mától én vagyok a Soros!
  • #119,867
  • Oct 21, 2012 9:15am Oct 21, 2012 9:15am
Hey guys,

Newbie here.

In my search for J16 indicators I came across these websites -

http://www.earnforex.com/metatrader-...inbar-Detector
http://www.stevehopwoodforex.com/php...t=368&start=40

I have not done a detailed back test over several currency pair using them. Perhaps you guys might have used those indicators. If so, can you please tell me whether they are reliable or not.

Thanks
  • #119,868
  • Oct 21, 2012 9:28am Oct 21, 2012 9:28am
Quoting giggles
Hey guys,

Newbie here.

In my search for J16 indicators I came across these websites -

http://www.earnforex.com/metatrader-...inbar-Detector
http://www.stevehopwoodforex.com/php...t=368&start=40

I have not done a detailed back test over several currency pair using them. Perhaps you guys might have used those indicators. If so, can you please tell me whether they are reliable or not.

Thanks
things like pinbars, dbhlc, beob and so on are easily visible. no need for any indicators. imho
meine augen sind die sterne
  • #119,869
  • Oct 21, 2012 10:27am Oct 21, 2012 10:27am
two more setups for next week:
vmed and kmb.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: VIRGIN MEDIA INC..png Size: 12 KB
Click to Enlarge Name: KIMBERLY-CLARK CORP..png Size: 13 KB
meine augen sind die sterne
  • #119,870
  • Oct 21, 2012 11:19am Oct 21, 2012 11:19am
Quoting farbeh
Still learning from the vast repository of knowledge here. Thanks to all who put their time and effort into it. Wonder if this would be a good candidate for BEOB on the weekly?

But on the Daily chart I am seeing the BUOB with the 34EMA resistance? Am I right in leaning toward the weekly as a signal than the daily?

thx/Farshad
Hey Farbeh

Glad you are working your way through the info here.

Notice this BEOB is not at a good swing high. This puts us in "traffic" as you will hear us refer to it. So we really want to start by looking for beobs up at nice swing high points. Here it is near a swing low putting us right into trouble and near problem areas. If you haven't check out my video on space vs traffic for more information it may help you.

Best
Mike
  • #119,871
  • Oct 21, 2012 11:54am Oct 21, 2012 11:54am
Quoting aserbfx
off topic and not related in any way to the "james16-method of trading":

this is what i posted on a different thread about a month ago:

"something which worries me about the movement of gold:
in the last weeks more and more people are asking me about an investment in gold. these people never did investments in stocks, commodities etc and have absolutely no clue about any investments at all. it reminds me of the year 2000 when every housewife was buying stocks. for me it is the same situation. when everybody is holding / buying gold,...
I'd agree with this too , nothing lasts forever, markets prove that every year

Mike
  • #119,872
  • Oct 21, 2012 12:02pm Oct 21, 2012 12:02pm
chart to watch
Attached Image (click to enlarge)
Click to Enlarge Name: 10-21-2012 usdtry ans.gif Size: 46 KB
  • #119,873
  • Oct 21, 2012 1:18pm Oct 21, 2012 1:18pm
Hi guys,

One that I watch the week, a little on the exotic side but I like it.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.jpg Size: 101 KB


1) Price at PPZ
2) Room there for a move
3) Let's wait for PA signal

All comments appreciated!

Thanks...
  • #119,874
  • Oct 21, 2012 1:39pm Oct 21, 2012 1:39pm
Quoting mbqb11
Hey Farbeh

Glad you are working your way through the info here.

Notice this BEOB is not at a good swing high. This puts us in "traffic" as you will hear us refer to it. So we really want to start by looking for beobs up at nice swing high points. Here it is near a swing low putting us right into trouble and near problem areas. If you haven't check out my video on space vs traffic for more information it may help you.

Best
Mike
Thanks Mike , I will check it again.

Quoting tinkerbelle
PB . YES . if there is any SR/PPZ level

BEOB . NO . the most ugly one a have ever seen, close is too week for me ( we want se close much lower)

my opinion
Quoting Sciurus
According to what I have read (I think J16 first mentioned this early in this thread) the third bar should not make too much headway beyond the first bar of the pinbar setup. Without the bearish engulfing bar after the third bar I would not consider it a sell signal.
Thanks guys
  • #119,875
  • Oct 21, 2012 3:10pm Oct 21, 2012 3:10pm
my trade for next week
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD.jpg Size: 54 KB
all is eternal - this is good news for people who loves bad news
  • #119,876
  • Oct 21, 2012 4:00pm Oct 21, 2012 4:00pm
Quoting Audioslave
I was never a big fan of H4 patterns. Different feeds provide different ones and may be confusing. I think it's better to stick with Hourly and Daily.

This one on Aussie worked out but You sold a break of H4 BEOB, while on H1 you were selling right into support. You didn't wait for price to close below and you entered on bar which formed a pinbull. And that's sort of gambling Later when price moved again below that support it was washed out by price action and you wouldn't have opportunity to sell it on pullback so there would be no trade...
thanks mate for your reply.

do you really think its a crazy thing to trade against a H1 pin if i stick to the higher timeframes? Remember, the higher TF`s is always ruling over the lower ones. Please read the thread again and listen carefully what the greatest trader like jim and mike have to say..

"...40 pips drawdown can cause heart attack. Watch out for that."

Why do you think so? We risking always just 1-2% on every trade, so if you stick to your RM you can sleep well without a heart attack.

Take care
  • #119,877
  • Oct 21, 2012 4:13pm Oct 21, 2012 4:13pm
Quoting sg_1988
We are all here to help each other, although words typed over a computer may be hard to construe.

Bullzeye does always say there is no 'hoping' in trading, but with that kind of drawdown surely he must have been hoping for a reversal? I would like to know his thought process behind taking such a drawdown in this case? (just so i can learn if there are certain cases where you would be willing to take full bar losses, as i try to cut my losses short asap unless there is a greater overall story, i accept there is no one same trader )

Also...
Hey my friend, thanks for your answer!

Yes, thats right we are here to learn, but not every post here brings you closer to your goal . Believe in your self and stick to your plan. Just sort the right stuff and make your own thoughts!
  • #119,878
  • Oct 21, 2012 4:28pm Oct 21, 2012 4:28pm
Quoting sg_1988
Bullzeye does always say there is no 'hoping' in trading, but with that kind of drawdown surely he must have been hoping for a reversal? I would like to know his thought process behind taking such a drawdown in this case? (just so i can learn if there are certain cases where you would be willing to take full bar losses, as i try to cut my losses short asap unless there is a greater overall story, i accept there is no one same trader )


Kind Regards
Sanil
Why do you think i was hoping for an reversal? I took my entry, sat my SL (btw above the BEOB) and TP and went away. I do not sit before my screen the whole day. Do you know why? Because i am confident with my style. I know when this BEOB is gonna break up and the market trades through it, i was WRONG.

Another lesson you cold learn here is: Cut your losses but don't be afraid of them
  • #119,879
  • Edited 5:00pm Oct 21, 2012 4:34pm | Edited 5:00pm
Quoting meshka
my trade for next week
Hey Meska,

nice one. I am also in that one Great PPZ area
  • #119,880
  • Oct 21, 2012 6:05pm Oct 21, 2012 6:05pm
Quoting bullzeye
thanks mate for your reply.

do you really think its a crazy thing to trade against a H1 pin if i stick to the higher timeframes? Remember, the higher TF`s is always ruling over the lower ones. Please read the thread again and listen carefully what the greatest trader like jim and mike have to say..

"...40 pips drawdown can cause heart attack. Watch out for that."

Why do you think so? We risking always just 1-2% on every trade, so if you stick to your RM you can sleep well without a heart attack.

Take care
Absolutely bullzeye

I am a big believer in doing what works for you and doing it smart. All we can do are share and give tools for people to get to that point where they do what works for them

Keep it up

Mike
43 traders viewing now