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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

  • #122,001
  • Dec 30, 2012 4:56pm Dec 30, 2012 4:56pm
Quoting tc640
hello guys, does this one look tradeable?

(im a beginner lol)
Hey TC

Welcome, we were all beginners too

The first thing that jumps out at me for someone new is that this beob is down at a swing low. We want to learn them up at swing high points first as taught by James

Let me know if that makes sense
Mike
  • #122,002
  • Dec 30, 2012 5:22pm Dec 30, 2012 5:22pm
Hi All

Been reading this thread for a few days. Got up to about page 75 and then thought I'd flick to the end to see if it was still active. It's great to look at charts without a 1000 indicators on them that all tell you different things.

Been scanning through some charts looking for different price action setups. Daily and weekly charts suit my lifestyle better as I work fulltime and looking at charts all day would do my head in. (although my wife might tell a different story).

I know hindsight is 20/20 and it's easy to find great pin bars when you can see how the price action played out. Did anyone catch this one on the EUR/AUD in November of last year. Weekly chart. Moved about 1700 pips in 8 weeks. I guess the message is if it has happened before then it can happen again.

Hoping to get into the PF in the next few weeks. Cash is a bit tight after Christmas. Wouldn't have been if I had caught this trade!! LOL

Cheers

hally
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Learning for Earning and Trading for Freedom
  • #122,003
  • Dec 30, 2012 5:34pm Dec 30, 2012 5:34pm
Quoting tinkerbelle
"GAP has to be filled" is like tradeing without SL... 99 win then 1 BIG loss crash you to ground zero.
I've never said that I trade without SL
I trade the Gap if I see a good price action in the zone
it's really straightforward
Account deleted
  • #122,004
  • Dec 30, 2012 6:38pm Dec 30, 2012 6:38pm
Quoting andyooi
hi everybody I'm a total newbie & this's my 1st post in FF, but I have been reading the James16 chart thread for weeks... (this thread IS the reason I signed up for a FF account)

Just want to post a question here, GBP/USD daily chart... (in the attachment)

the charts shows a BUOVB at a PPZ (confluence of 2 fibo levels), but the bullish candle went up a little too much to give a good Reward/Risk ratio, if I decide to enter above the break of the candle (the blue line).

So, I am wandering whether it's...
It's a bullish engulfing inside candle your looking at not an outside bar. If you are confused after your analysis it's wise to pass on that trade. If you force it you are more likely to lose in this business. I'm a 4 year old newbie in trading. I would say to focus only on the A+ trade setups at this point. Focus on understanding where price is likely to go vs getting stuck in the risk/reward game. Use sound money management and risky trades become less "risky".

As far as catching a better entry in any trade, you could look at what price is doing in a lower time frame to zoom in, you could use a fib level of the candle, swing...ect, you could go the arbitrary percent route as well as looking at the left eye...ect, ect , ect! Don't force it! if in your analysis you are saying your trigger candle went up to high to give you a decent reward (like it's already reached your planned exit area), PUT THE GUN DOWN!

Trade what you see not what you feel.

Feeling confused...pass on it
  • #122,005
  • Edited 8:02pm Dec 30, 2012 6:48pm | Edited 8:02pm
Quoting andyooi
hi everybody I'm a total newbie & this's my 1st post in FF, but I have been reading the James16 chart thread for weeks... (this thread IS the reason I signed up for a FF account)

Just want to post a question here, GBP/USD daily chart... (in the attachment)

the charts shows a BUOVB at a PPZ (confluence of 2 fibo levels), but the bullish candle went up a little too much to give a good Reward/Risk ratio, if I decide to enter above the break of the candle (the blue line).

So, I am wandering whether it's wise to...

I don't even see a BUEOB, technically it could be but, my criteria for a true BUEOB is more like this.

EDIT: Revised PA chart for new people to the thread.
Hope it helps.
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  • #122,006
  • Dec 30, 2012 7:17pm Dec 30, 2012 7:17pm
Quoting Pinbar
I don't even see a BUEOB, technically it could be but, my criteria for a true BUEOB is more like this.
I use the same criteria. Based my comment on what he must think he is seeing.
  • #122,007
  • Dec 31, 2012 12:42am Dec 31, 2012 12:42am
It wasn't an easy decision to join James16 Group.

I have been with FF forum for few years, and I have once drop-by James16 thread to have a peek.

Honestly, it was the no. of posts, and walls of text that put me off, and I have ventured off into other threads.

What reasons turn my direction back here was - James16 once quoted in a post that this business cannot be learn in few days, months and should one treat this as business, he or she should be patient and demo the trade. There is no short-cut in this business, and why should I pretend and even think there is?

James16 and the great guys here have been very helpful and generous to the starters. Since they have shown me the 1st step, I should reciprocate by begin reading from Post 1.


P/S: I have joined the PF, it was marvelous. And I know it will sure took me long period to digest the knowledge.
I am also on Pg. 101 here.
  • #122,008
  • Dec 31, 2012 7:57am Dec 31, 2012 7:57am
Hi,
andyooi - gentlemen has already spoken on the GBPUSD.
I keep it all the time. I moved to BE, so I am calm. Now I see that it all goes nicely up.
I remember I use the google translator, so there may be minor errors.
  • #122,009
  • Dec 31, 2012 8:16am Dec 31, 2012 8:16am
hi olciter, aserbfx, tinkerbelle, Rahimseven, Pinbar & mischosz, thanks for the quick replies

You all are right, I misunderstood the "definition" of an outside bar. Looks like I have more studying to do!

Happy new year to everybody on FF!
  • #122,010
  • Dec 31, 2012 10:06am Dec 31, 2012 10:06am
Quoting fxbreeze
It wasn't an easy decision to join James16 Group.

I have been with FF forum for few years, and I have once drop-by James16 thread to have a peek.

Honestly, it was the no. of posts, and walls of text that put me off, and I have ventured off into other threads.

What reasons turn my direction back here was - James16 once quoted in a post that this business cannot be learn in few days, months and should one treat this as business, he or she should be patient and demo the trade. There is no short-cut in this business, and why should I pretend...
welcome breeze we are glad to have you here and the PF. I know this thread is huge and it can be very daunting. It doesn't take as long as one might suspect to get caught up to speed where you won't feel that daunting anymore. Don't be shy to drop me a line if you need anything

Best
Mike
  • #122,011
  • Dec 31, 2012 4:19pm Dec 31, 2012 4:19pm
Happy new year to all my friends and mentors here ... I am in so much In debt to every one here , I can never repay ... May the year 2013 brings everyone everything they desire ... Once again , Happy new year to all ......
Human
  • #122,012
  • Dec 31, 2012 7:42pm Dec 31, 2012 7:42pm
Happy new year everyone.
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  • #122,013
  • Dec 31, 2012 8:22pm Dec 31, 2012 8:22pm
Quoting Pinbar
I don't even see a BUEOB, technically it could be but, my criteria for a true BUEOB is more like this.

EDIT: Revised PA chart for new people to the thread.
Hope it helps.
Thanks Pinbar! Thats a great quick reference chart .

Happy new year to everyone!

I came across this thread strolling through ff, so glad I did. have been following it ever since! Thankyou to everyone who contributes to this thread, there is a wealth of knowledge here.

I attached a c trade, being that there isn't much room to move before traffic and moving towards brn of 1.5. But was hoping for some input more on the trade management side as that where I need to improve, planning entry/exit points.

Again, I can't Thank James and the rest of you guys who help out enough, After going through indicators, people selling systems etc, have found just regular people willing to share there information for no other reason than to help there fellow humans swim in a sea of sharks.

Thanks from West Oz!
Jonny

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  • #122,014
  • Dec 31, 2012 9:08pm Dec 31, 2012 9:08pm
Hi All

Not as yet a member of the PF but been working my way through the thread. Have noticed this potential setup on the EUR/GBP on the daily chart. Not seeing any price action confirmation yet, but price is running back down into some major resistance levels - Fib levels, 200 MA and 365 MA and also RN at 81 and BRN at 80. Am interested to see if there is any PA confirmation in the next couple of days. Probably over New Year is not a great time to trade. I am still at demo stage. Any comments??

hally
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Learning for Earning and Trading for Freedom
  • #122,015
  • Dec 31, 2012 11:54pm Dec 31, 2012 11:54pm
Quoting Pinbar
Happy new year everyone.
Happy New Year To All and Best Wishes to YOUR HEART"S DESIRE !

Hi Steve,

Do you mind to post NASDAQ daily Chart and your take on the chart
from your FX PRo MT4 ( mine FXCM and trying to open up FXPRO but kept getting invalid account gotta sort out tomorrow).

Thanks in advance.. Cheers

Vito
  • #122,016
  • Jan 1, 2013 8:43am Jan 1, 2013 8:43am
Quoting mbqb11
welcome breeze we are glad to have you here and the PF. I know this thread is huge and it can be very daunting. It doesn't take as long as one might suspect to get caught up to speed where you won't feel that daunting anymore. Don't be shy to drop me a line if you need anything

Best
Mike

Thanks, Mike!

That was absolute warming!

A good new year to you, & everyone here!
  • #122,017
  • Edited 10:00am Jan 1, 2013 9:40am | Edited 10:00am
Big things happening on the AUD/JPY

How would you play it or do you feel the bus has been missed?

A plan:

Buy at a retrace to the 89 level

Place stop under last swing on daily around 87

Take some off at 90.94

2 bar low trail once first target reached

Let her run while I go have some fun...



B plan:

Buy a break of the BUEOB on daily (I understand that bullish engulfing outside bars are usually take at swing lows or down trend reversals
but with it bouncing of a strong support I'll call it valid)

Place stop under previous resistance below 89

Take some off at 90.94

2 bar low trail once first target reached



Could do both!!!



Thoughts?

Happy New year.
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  • #122,018
  • Jan 1, 2013 10:46am Jan 1, 2013 10:46am
Happy New Year everyone!!


How about this for a set-up on the USD/MXN??

BEOB, Rejection of BRN 13.000, Bounce off 150 and 360 ema, also bounce off s/r zone.

Providing the market opens above the close of this BEOB bar and breaks it at around 12.9100, 1st TA is around 12.8500

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  • #122,019
  • Jan 1, 2013 11:03am Jan 1, 2013 11:03am
Quoting lebond
Happy New Year everyone!!


How about this for a set-up on the USD/MXN??

BEOB, Rejection of BRN 13.000, Bounce off 150 and 360 ema, also bounce off s/r zone.

Providing the market opens above the close of this BEOB bar and breaks it at around 12.9100, 1st TA is around 12.8500

Attachment
You don't think the spread will ruin this trade?
  • #122,020
  • Jan 1, 2013 11:15am Jan 1, 2013 11:15am
Rahimseven I don't think the spread will ruin this trade. If you look on the daily, H4 or H1 chart for the USD/MXN, 50 points is not very far at all.
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