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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

  • #123,421
  • Feb 25, 2013 11:02am Feb 25, 2013 11:02am
Eurgbp trade. 78.6 fib with 0.8800 BRN. 20 pip stop. Had a nice 15 min pin at the top as well.

Chfjpy. Sold the break of 101.00 BRN and trendline to fill gap. 15 pip stop.
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  • #123,422
  • Feb 25, 2013 11:43am Feb 25, 2013 11:43am
EURGBP and GBPNZD, i think we get a reversal...
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lieber aufrecht sterben als kniend leben
  • #123,423
  • Feb 25, 2013 1:49pm Feb 25, 2013 1:49pm
Quoting cloudfx
Hey guys,

Was this a good setup for a short at the downward sloping trend line, since there is also a gap?

I thought the location was amazing, but the bar confirmations were small compared to the previous bars.

So in a case like this does the location trump the fact that the pin bars were not very impressive?

Also is it best to move a stop to break even at the first minor support levels at around 124.6?

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hey Cloud

Generally we like to think of location as being the number one important thing. I think with the gap and pattern here this was a very very strong area. Many people played it like I did above which is the same situation

Best
Mike
  • #123,424
  • Feb 25, 2013 2:05pm Feb 25, 2013 2:05pm
Evening guys,

Any comments on my chart? I'm looking to learn break outs, so I may be wide of the mark, or may have missed the boat on this one, but any feedback would be apreciated.

Couple of hours to close, but will probably finish as a BEOB

Thanks
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  • #123,425
  • Feb 25, 2013 2:16pm Feb 25, 2013 2:16pm
GBPUSD possible 3 drives @ 1.5000 and then go back to 1.5500?
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lieber aufrecht sterben als kniend leben
  • #123,426
  • Feb 25, 2013 2:21pm Feb 25, 2013 2:21pm
Quoting ziven78
Hi Mike,

Just wondering Mike is there any particular reason for choosing CHF/JPY over EUR/JPY. I traded EUR/JPY on H1.

image as i cannot post pics directly yet
https://www.dropbox.com/s/uilwqwaaqnywpzx/eurjpyH1.jpg
Hey Ziven

They were very similar trades but the chf/jpy gapped more into the wedge TL area for me so it made me a bit more comfortable. Essentially they will all run very similar though, so nothing wrong with that at all. They worked out great today

Best
Mike
  • #123,427
  • Feb 25, 2013 2:40pm Feb 25, 2013 2:40pm
yen pairs are falling like asteroids EURUSD tooo. apocalyptic move lol
all is eternal - this is good news for people who loves bad news
  • #123,428
  • Feb 25, 2013 2:45pm Feb 25, 2013 2:45pm
Quoting inditrader
Hi every one,

I was a silent observer of this thread and I really really like all the great souls here. I have read 25 pages of only James postings and his advices are priceless.

Though I have experience of 6 years in trading, I have honed my skills tremodously through this thread.

I just came to acknowledge my gratitude to all you people.

Here is my latest trade courstey -.The great man behind this place called " James 16 chart thread".


Eur/Usd

A PPZ. 3000 round number.
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Then at the same place...
Welcome Indi

Glad you have found things helpful

Many of us trade from monthlies down to the lower TFs as well. Just try to keep the new traders off those smaller timeframes when starting

Hope to see you post more

Best
Mike
  • #123,429
  • Feb 25, 2013 3:16pm Feb 25, 2013 3:16pm
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
I entered EUR USD at retracement to TL at 1.33. I did not expect it will fall so quick. My TP is at 1.30. Now wondering to remove my TP and trail my stop manually. It seems it gonna be a bigger move down.
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  • #123,430
  • Feb 25, 2013 3:25pm Feb 25, 2013 3:25pm
Quoting inditrader
Here is Eur/Jpy.

The trendline and the the 125 a really big and significant number meet at a single place. Thats where the big pockets were sitting. I went with them and it was a good decission.

Risk of just 30 pips!

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very nice Indi I took the chf/jpy

looks like you held on for that huge move, way to go!

Mike
  • #123,431
  • Feb 25, 2013 4:32pm Feb 25, 2013 4:32pm
USDCHF, it looks that 365 ema is a strong resistence in daily chart. possible sell setup?
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  • #123,432
  • Feb 25, 2013 10:41pm Feb 25, 2013 10:41pm
Quoting mbqb11
very nice Indi I took the chf/jpy

looks like you held on for that huge move, way to go!

Mike
Thank you Mike for your kind words. I do appreciate your devoted effort here to help others.

Here is one more opportunity which I could spot today.

Yesterday It was on weekly .

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and today it is on the daily

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My style of trading mainly revolves around S/R, confluence and then weekly and monthly pivots. Of course due credit to all of you who have helped me to fine tune my method to a great extent.

Regards
Inditrader
Regards Inditrader
  • #123,433
  • Feb 25, 2013 11:07pm Feb 25, 2013 11:07pm
EURUSD engulfing off the two EMAs on the daily chart.

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looks sweet to me.
  • #123,434
  • Feb 25, 2013 11:15pm Feb 25, 2013 11:15pm
There seems to be a great trade waiting us at 5200 on GBPUSD.

GU daily

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GU 4 hour
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Regards
Inditrader
Regards Inditrader
  • #123,435
  • Feb 26, 2013 12:33am Feb 26, 2013 12:33am
Quoting ping-ping
USDCHF, it looks that 365 ema is a strong resistence in daily chart. possible sell setup?
I look at it quite the opposite :-). At least for now.
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If not up, then down, otherwise sideways :-)
  • #123,436
  • Edited 12:58am Feb 26, 2013 12:48am | Edited 12:58am
Quoting mbqb11
Hey Jack

Pinbar said exactly what I would. Notice that DBHLC is at a swing low and in a "box" market. Start by looking for these where James teaches them up at nice swing high points

See chart below


Best
Mike
Thanks Mike, What can you say about this 4H pinbar on USDJPY? I've traded it and lost a little profit What I did wrong, and what I've forgot?
Thanks for your reply!
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  • #123,437
  • Feb 26, 2013 1:09am Feb 26, 2013 1:09am
Quoting Magestic
I look at it quite the opposite :-). At least for now.
I pretty much agree with Magestic. I do see Dollar getting strong against swiss. However please note that it is purely my personal forecast.

Bar A is a hammer and then bar B is a follow up rally whereas bar C show the strength of the buyers. Now Bar D is a building up bar which is likely to move north in the coming days/weeks. Also note that Bar D got support at bottom of bar C+ top of bar B.

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On a weekly, Price making higher lows means its still bullish.
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On a 4 hour chart.
1. An accumulation at monthly pivot
2. then a higher low
3. and the support at Monthly R1 ( flip in s/r).

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I do not think we need more evidence.
Regards Inditrader
  • #123,438
  • Feb 26, 2013 1:10am Feb 26, 2013 1:10am
Quoting jackforex
Thanks Mike, What can you say about this 4H pinbar on USDJPY? I've traded it and lost a little profit What I did wrong, and what I've forgot?
Thanks for your reply!
I have a real quick answer. The bar you are describing is technically not a pin bar. Needs to close above where it opened. Im sure Mike has more input.
  • #123,439
  • Feb 26, 2013 1:16am Feb 26, 2013 1:16am
Quoting jackforex
Thanks Mike, What can you say about this 4H pinbar on USDJPY? I've traded it and lost a little profit What I did wrong, and what I've forgot?
Thanks for your reply!
That feed looks weird to me.

That said, the problem is the H4 TF.
Daily will trump H4, most of the time.

What does the Monday D1 bar look like on your feed. Any bearish PA?
J16 tells people to stay on D1 as the lowest TF, to get a feel for things.
It's Very good advice I feel but, I myself did not abide by it and paid the price, for a while.
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  • #123,440
  • Feb 26, 2013 1:17am Feb 26, 2013 1:17am
Quoting ping-ping
USDCHF, it looks that 365 ema is a strong resistence in daily chart. possible sell setup?
Hi ping-ping,
I agree with Magestic that we should be careful with taking short right now, in my opinion we´re in range now and there´s all sort of mess below (so trade management would be really difficult). I´ll wait for breakout, check my chart. Of course it´s just my personal analysis.

Mav
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