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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

  • #121,421
  • Dec 4, 2012 5:13pm Dec 4, 2012 5:13pm
Quoting moneyrunner
Hi Mike/Jim
Can you advise on the EUR.CAD pinbar - bar still has not closed granted.
But this are has been rejected on a number of occasions - BRN at 1.3.
This is messy pair as its a cross, combo of eur/usd + usd/cad
Thanks
Hey MR

I'd prefer a longer nose here on this one and a stronger close

A break should get us to the bar high as FTA. But for me a bigger nose and stronger close would only be the way worth trading for me. If course if the BRN doesnt' hold then this might trickle right back higher. Pair itself doesn't bother me , I treat it the same as I would the euro or any other pair

Hope that helps
Mike
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  • #121,422
  • Dec 4, 2012 5:14pm Dec 4, 2012 5:14pm
Quoting cupoftea2222
Thanks Mike, starting to get a good idea of how "space" works for a prospective trade.

Do you ever take trades like this one or do you always wait for A+ setups? I ask because in one of the vids on the guest material @ j16.us, James says that you need to learn to trade sideways markets...otherwise you'll find it very difficult to be profitable.
Hey COT

I trade in all market conditions. Ranging, trending, etc. For me the story is most important and part of that story is understanding the market environment you are in. Most people trade tight choppy markets and simply let their trades get stopped out and chopped to death. I prefer to decipher how much room I think a trade has to run and how much is in the way of letting that run. Thus I can decide how quickly to take profits/get to breakeven/ or move my stops to reduce risk

Hope that helps
Mike
  • #121,423
  • Dec 4, 2012 5:37pm Dec 4, 2012 5:37pm
GBP/USD Daily formed a PInbar small nose but at confluence of Pivot as well as 61% Fib level!
any one?
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  • #121,424
  • Dec 4, 2012 6:20pm Dec 4, 2012 6:20pm
Quoting surajkincity
GBP/USD Daily formed a PInbar small nose but at confluence of Pivot as well as 61% Fib level!
any one?
Hey Suraj

Based on your previous euro chart Do you think this is a big bar?


Have you gone back and spotted some big pinbars? I think that's a good starting place.

Just getting you thinking

Mike
  • #121,425
  • Dec 4, 2012 6:30pm Dec 4, 2012 6:30pm
Quoting mbqb11
Hey Suraj

Based on your previous euro chart Do you think this is a big bar?


Have you gone back and spotted some big pinbars? I think that's a good starting place.

Just getting you thinking

Mike
u r right! i will look only for a+ setup now..
i will go bach and see thanks fr the idea.
  • #121,426
  • Dec 4, 2012 7:26pm Dec 4, 2012 7:26pm
Double High Lower Close on the daily, check it out...Heavy 3 fib confluence with Pivot Zone. But its some traffic below the break so watch out.

Yours truly
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  • #121,427
  • Dec 4, 2012 8:16pm Dec 4, 2012 8:16pm
Quoting Yaboykt
Double High Lower Close on the daily, check it out...Heavy 3 fib confluence with Pivot Zone. But its some traffic below the break so watch out.

Yours truly
Hey Yabo

Careful with a DBHLC we want the close of the bar to be UNDER the previous bars LOW. You are correct about your other analysis though which is great

Best
Mike
  • #121,428
  • Dec 4, 2012 9:31pm Dec 4, 2012 9:31pm
Hi Mike

Here is my Eur/Usd chart.I have been trading this pair from last 3 weeks.It is extremely lucrative.
I have 6 legs on this pair.
Please,give your analysis on this pair.I am looking 131.30 as strong resistance.
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I am a hunter...i kill both bulls and bears...
  • #121,429
  • Dec 4, 2012 9:39pm Dec 4, 2012 9:39pm
Quoting oathbreaker
Hi Mike

Here is my Eur/Usd chart.I have been trading this pair from last 3 weeks.It is extremely lucrative.
I have 6 legs on this pair.
Please,give your analysis on this pair.I am looking 131.30 as strong resistance.
Would like to understand reasoning behind your trades. Nice Job!
  • #121,430
  • Dec 4, 2012 9:57pm Dec 4, 2012 9:57pm
Quoting oathbreaker
Hi Mike

Here is my Eur/Usd chart.I have been trading this pair from last 3 weeks.It is extremely lucrative.
I have 6 legs on this pair.
Please,give your analysis on this pair.I am looking 131.30 as strong resistance.
Hey Oath

Looks like you got some nice moves there

I agree we are coming up on previous resistance. i think that is an area to watch as well as the TL that is steep running into this area. If the resistance holds and the TL breaks we could see a move back to 1.3

Best
Mike
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  • #121,431
  • Dec 4, 2012 9:58pm Dec 4, 2012 9:58pm
Quoting Winston Reed
Would like to understand reasoning behind your trades. Nice Job!
Hello Wiston Reed

I just follow the trend.As EUR/USD was up from last month my bias will be up till next month.

Look at weekly and monthly candles there are more bold candles(less wicks and long bodies) than other type of candles.This means that once trend is formed in any week or month it will follow through out that week or month.Think about this.

I just place some trades which are low risk.If they survive i will add some more positions.I will consider my loss only at the end of the month.

Thanks for your interest.
"Trend trading is about catching the main trend and riding it"

I still need to improve my entries.
I am a hunter...i kill both bulls and bears...
  • #121,432
  • Dec 4, 2012 10:08pm Dec 4, 2012 10:08pm
Quoting mbqb11
Hey Oath

Looks like you got some nice moves there

I agree we are coming up on previous resistance. i think that is an area to watch as well as the TL that is steep running into this area. If the resistance holds and the TL breaks we could see a move back to 1.3

Best
Mike
Thanks Mike for your analysis.I am expecting some consolidation at this area before this resistance breaks.
I have entered Long @1.3110.We will see what this Europe and US markets are going to bring today.
I am a hunter...i kill both bulls and bears...
  • #121,433
  • Dec 4, 2012 10:57pm Dec 4, 2012 10:57pm
Quoting patapouer
Maybe I wasn't very clear:
PPZ = price pivot zone, support <-> resistance transition, identified "by eye"
Price Pivot = mathematical calculation, exact price that changes every day (see the indicator).

PPZ are widely used in this thread. J16, and his followers, considers PPZ as area to monitor, because price is likely to change its behavior nearby PPZ. The idea is to wait for price to reach PPZ, and then wait for PA signal to develop nearby the PPZ to open a position in the direction shown by PA.

Example: price approaches from above (down trend)...
Correct me if I am wrong,
to me, this post looked like a summary of james16 method,
Thank you
  • #121,434
  • Dec 5, 2012 1:19am Dec 5, 2012 1:19am
Do you guys think, we might will have something here?
According to the weekly chart if it breaks we got some free space ahead of us.
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It's all psychology...
  • #121,435
  • Dec 5, 2012 1:43am Dec 5, 2012 1:43am
Quoting oathbreaker
Hello Wiston Reed

I just follow the trend.As EUR/USD was up from last month my bias will be up till next month.

Look at weekly and monthly candles there are more bold candles(less wicks and long bodies) than other type of candles.This means that once trend is formed in any week or month it will follow through out that week or month.Think about this.

I just place some trades which are low risk.If they survive i will add some more positions.I will consider my loss only at the end of the month.

Thanks for your interest.
"Trend trading is about...

Look at weekly and monthly candles there are more bold candles(less wicks and long bodies) than other type of candles.This means that once trend is formed in any week or month it will follow through out that week or month.Think about this.

I am still wondering what your system is. I'll be pretty shocked if you're pyramiding based only on big bullish/bearish bars.

Price won't necessarily move strongly in one direction because that's the direction it wants to take for the longer term. Very often, it will rapidly move only to hit a big block or orders and reverse. Some of the strongest reversals you'll see in the market is where price first spikes into the direction of the dominant trend and then suddenly reverse just as hard. That's why your big pin bars at good locations work in the first place.

By the looks of it you're basically trying to follow momentum, but gauging momentum goes much deeper than looking at mere bar ranges. It deals with understanding order flow dynamics and how and what are the true motives behind a move in the market, which like I said isn't always aimed at propelling price in the current direction for the coming many weeks/months.

While you got some good running longs on Eu, I can't help notice that you're anticipating resistance at the swing high yet you're long another leg so close to it! Based on the big weekly/monthly bars you probably anticipate this current trend to push through everything which might even happen, but what worries me, is that trend trading is like Christmas sale more than anything else. What are you going to do for the rest of the year?

We teach price action here, a tool that can be used to trade any market. A tool which helps you to understand why price does what it does even in a sideways market and how it can be used to prepare a trading method that keeps you alive no matter what shape the market takes.

Do you realize that this pyramiding can be a death notice for your account if price gets caught up in a range bound market?

Unless you have very solid rules for entry and exit and for analyzing order flow I can only discourage you from such inconsistent systems.

Apologies if I sounded a bit harsh or a party pooper, but I was cringing looking at your chart and really wanted to put my thoughts across.

g.
I believe . . .
  • #121,436
  • Dec 5, 2012 2:18am Dec 5, 2012 2:18am
H1 close above took me out.
That is what we get for jumping the daily close.
Lesson learned.
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  • #121,437
  • Dec 5, 2012 2:45am Dec 5, 2012 2:45am
Quoting itsam
Correct me if I am wrong,
to me, this post looked like a summary of james16 method,
Thank you
well, hem...

no, by no way this was thought as a summary of J16 method.
The only thing in what I wrote that could give a little glance on J16 "method", or "way of apprehending trading" shall I say, is the wait - wait - wait for PA but wait - where - where - where does it occur idea.

I by no mean have any sufficient knowledge of markets or even just price action, not to mention James's approach of trading, to consider I even might think of providing a summary of a method a senior trader took years and years to build...
Not only this, but there are many very advanced traders here following James's path who have developed their own strategy in the light of his concepts. Their way of trading are very powerful, and far far far away from my capabilities - right now...
Not even to mention that the public thread here is indeed full of golden nuggets but I am confident that James's private forum contains thousand more of wisdom that I, as new to trading, can't even just imagine the existence...

so thanks for the nice words, but no, this is in no way any sort of J16 summary.
Anyone's humility has to face that there is no way to summarize what took years of practice, knowledge, self-improvement hard work, etc... to built and teach. - in my opinion of course...
Slow & steady
  • #121,438
  • Dec 5, 2012 4:12am Dec 5, 2012 4:12am
GBP/JPY was a much better setup. To the very PIP of 132.649!
Unfortunately, due to university meetings, I missed it.
It was a monthly and weekly confluenced level as opposed to just being a weekly level on the EG.
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  • #121,439
  • Dec 5, 2012 4:42am Dec 5, 2012 4:42am
Quoting C-12
I was reading through Ken Lee's thread and noticed you were active on there for a while. Did you give up on trading S&D?
Hey C,

yes, thats right, i was trading the S/D system (like Sam Saiden teaching) successful for a while and was present on Ken`s thread, he is incredible teacher!!! But to be honest the small timeframes (under H1) makes me nervous , i discovered the j16 stuff for me and realized that it suits me perfectly

For me is to trading the higher timeframes the ultimate way to trade. But you know it already: every trader is different And i like to see so much great traders here around, develop there systems and styles

You make a good job, so go on and post your charts. I am curios about your style : combine j16 stuff with S/D
  • #121,440
  • Dec 5, 2012 4:54am Dec 5, 2012 4:54am
Quoting Pinbar
H1 close above took me out.
That is what we get for jumping the daily close.
Lesson learned.
Hey Pin,

good idea behind your trade...but i don't like H1 frames to show us a possible reversal, more i like the PA action on H4, i think it shows us the direction ...
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