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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

  • #121,661
  • Dec 11, 2012 10:26am Dec 11, 2012 10:26am
Hi Mike, happy birthday and thanks for the work your´re doing here
  • #121,662
  • Dec 11, 2012 11:32am Dec 11, 2012 11:32am
Quoting Mav13
Hi Mike, happy birthday and thanks for the work your´re doing here
thank you sir!

Mike
  • #121,663
  • Dec 11, 2012 12:02pm Dec 11, 2012 12:02pm
Hey Mike

Looks good. What do you think about it?
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  • #121,664
  • Dec 11, 2012 12:39pm Dec 11, 2012 12:39pm
Quoting long2339
Hey Mike

Looks good. What do you think about it?
Hey Long

Price is certainly in a box of consolidation but we have to be careful with these continuation bars. I see it as this rising TL could give price problems and without a more accurate pattern it makes it tricky and why people can get into trouble trying to play continuations over reversals.

Here is my chart of what I mean

The PBT jarroo thing is different then how I trade in a case like this so that would be a separate question as I can see the major swing highest close there

Best
Mike
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  • #121,665
  • Dec 11, 2012 1:33pm Dec 11, 2012 1:33pm
Hey Mike
Could you explain to me why isn't it PBT? Price should close above HCR.
Thank you for your help.
  • #121,666
  • Dec 11, 2012 1:39pm Dec 11, 2012 1:39pm
Hi guys! Mike thanks for reply. I got a question here to everyone who knows - why this pin bar (if it is) doesn't work? BRN + 68.2% Fib is near.
Will be very appreciated. Thanks
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  • #121,667
  • Dec 11, 2012 1:44pm Dec 11, 2012 1:44pm
Quoting long2339
Hey Mike
Could you explain to me why isn't it PBT? Price should close above HCR.
Thank you for your help.
Hey Long

It is PBT and is closing above the HCR. What I meant is I don't trade in that way. I am more like James16 then some of the touch trading that Jarroo shows with HCR. Not necessarily completely different rules but for me I approach it from a james16 standpoint of this is a BUOB at a swing high point and that HCR doesn't factor into my decision in a case like this

Hope that clears it up

Mike
  • #121,668
  • Dec 11, 2012 1:44pm Dec 11, 2012 1:44pm


BRN divergence, I'm waiting for PA
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  • #121,669
  • Dec 11, 2012 1:46pm Dec 11, 2012 1:46pm
Quoting Nick1
Hi guys! Mike thanks for reply. I got a question here to everyone who knows - why this pin bar (if it is) doesn't work? BRN + 68.2% Fib is near.
Will be very appreciated. Thanks
Hey Nick

Their are a few things that we can look at firs this bar. Remember a pinbar is NOT valid until the low breaks. So technically speaking this bar has not triggered since the low has not broken. As you pointed out it is sitting just ABOVE the BRN. It is much strong in my eyes in most cases for price to close BELOW that BRN. This gives more strength to me.

The most important point is really that price is not at a good swing point. Notice how minor or sharp the pullback is which then creates no SPACE away from the previous move down. This is what we speak about when we speak about traffic. Check out my video called space vs traffic if you get a chance

Hope that helps
Mike
  • #121,670
  • Dec 11, 2012 1:51pm Dec 11, 2012 1:51pm
Quoting long2339


BRN divergence, I'm waiting for PA
now you are talking Long

here were my charts I emailed out to the group
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  • #121,671
  • Dec 11, 2012 1:52pm Dec 11, 2012 1:52pm
Quoting mbqb11
Hey Nick

Their are a few things that we can look at firs this bar. Remember a pinbar is NOT valid until the low breaks. So technically speaking this bar has not triggered since the low has not broken. As you pointed out it is sitting just ABOVE the BRN. It is much strong in my eyes in most cases for price to close BELOW that BRN. This gives more strength to me.

The most important point is really that price is not at a good swing point. Notice how minor or sharp the pullback is which then creates no SPACE away from the previous move down....

Thank you Mike. One more question where can I get that video? In the PF?
  • #121,672
  • Dec 11, 2012 1:52pm Dec 11, 2012 1:52pm
Quoting mbqb11
Hey Long

It is PBT and is closing above the HCR. What I meant is I don't trade in that way. I am more like James16 then some of the touch trading that Jarroo shows with HCR. Not necessarily completely different rules but for me I approach it from a james16 standpoint of this is a BUOB at a swing high point and that HCR doesn't factor into my decision in a case like this

Hope that clears it up

Mike

Thank you Mike
  • #121,673
  • Dec 11, 2012 3:24pm Dec 11, 2012 3:24pm
Ooops, Belated Happy Birthday Mike.

Take a month off, relax on a white beach, and drink this for lunch & dinner.
Hell, breakfast as well.
http://ts2.mm.bing.net/th?id=H.45978...65577&pid=15.1
  • #121,674
  • Dec 11, 2012 3:29pm Dec 11, 2012 3:29pm
Quoting Pinbar
Ooops, Belated Happy Birthday Mike.

Take a month off, relax on a white beach, and drink this for lunch & dinner.
Hell, breakfast as well.
http://ts2.mm.bing.net/th?id=H.45978...65577&pid=15.1
yum I love my red

Thanks Steve

Mike
  • #121,675
  • Dec 11, 2012 3:32pm Dec 11, 2012 3:32pm
Glad you like red wine Mike.
I sure you drank a few, French or Italian, I suppose there are some pretty good Californian wines there.

This looks interesting.
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  • #121,676
  • Dec 11, 2012 3:35pm Dec 11, 2012 3:35pm
Quoting Pinbar
Glad you like red wine Mike.
I sure you drank a few, French or Italian, I suppose there are some pretty good Californian wines there.

This looks interesting.
I like my Argentinian malbecs

But I am not too fussy either unlike with my trading LOL
  • #121,677
  • Dec 11, 2012 3:39pm Dec 11, 2012 3:39pm
Quoting mbqb11
I like my Argentinian malbecs

But I am not too fussy either unlike with my trading LOL
Is that because of the Tannin content?
Perhaps not quite the bitterness of a Bordeaux? Or a more fruity taste?

Happy Birthday
http://www.hpswine.com/images/wine/3...0dpi_Label.jpg
  • #121,678
  • Dec 11, 2012 3:51pm Dec 11, 2012 3:51pm
happy birthday muscle man

(although it already was your birthday)

And thank you for all your help
  • #121,679
  • Dec 11, 2012 4:53pm Dec 11, 2012 4:53pm
Hi mates

a little embarassed to show you my poor little trade
but a profit is a profit and the entry was good

EURCHF Daily,reasons for entry,comments and thoughts about the exit printed straight on the chart as usual

P.S.
eheheh not a bad day after all,my other method (not J16 related) banked +266 pips today. I can live with that

may the pips be with youuuu

http://mytradesontheblog.files.wordp...ips-eurchf.gif
Account deleted
  • #121,680
  • Dec 11, 2012 4:56pm Dec 11, 2012 4:56pm
AUDUSD

I'd say the FTA has been hit and closed above. Lets see if it holds and reaches the Daily and Weekly HCR area.


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The Eyes Believe What They See And The Ears Believe What Others Say.
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