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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

  • #126,541
  • Jul 2, 2013 4:31am Jul 2, 2013 4:31am
Quoting Pinbar
EG was really educational. I took the touch trade off of the SFP once it failed to close above the upper weekly level. just took TP. EDIT: This was an H1 setup but, it was based on the weekly levels. {image} {image}
Hi Pinbar. I want to learn to trade with SFP but don't understand it too well.
Can you tell me when did you enter? At the close or at the touch? And where did you put your initial stop loss? Also do you want a big rejection in order to trade or just a touch?
  • #126,542
  • Jul 2, 2013 7:21am Jul 2, 2013 7:21am
small risk, small stop..first target the middle of the box..
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  • #126,543
  • Jul 2, 2013 9:09am Jul 2, 2013 9:09am
Quoting LamerTrader
{quote} I guess Im Stephen And I got my Daily HCR and thats why i said that pin is not so fancy as it looks. Damn these markets - i just got a feeling that the "game difficulty" has been changed to expert recently. All those choppy pairs with long wicks - they neither give me nice A+ daily signals, nor nice R/R ratios... Cheers, Stephen
Hi, Stephen
you're damn right !
these long wicks just make me mad

Quoting str8
{quote} Hi Pinbar. I want to learn to trade with SFP but don't understand it too well. Can you tell me when did you enter? At the close or at the touch? And where did you put your initial stop loss? Also do you want a big rejection in order to trade or just a touch?

Yes, i want to learn about SFP too...
Your best teacher is your last mistake ...
  • #126,544
  • Jul 2, 2013 9:27am Jul 2, 2013 9:27am
Quoting b3g1nn3er
{quote} Hi, Stephen you're damn right ! these long wicks just make me mad {quote} Yes, i want to learn about SFP too...
Calm down guys - everything at its own time - until you are not able to determine short term PPZs on 4H 1H charts its a suicide to go into the SFP thing. I would look through all the james16 material (pinbar, beuob, buob, Inside bar, 4inside bar, base trading) - and try to master them. Then try to look for B,C grade pins and try to determine the FTAs - FTAs where you would do sg. - take profit, BE etc. When you are good at it than you can go further and play with SFP...
My Recommendation: If you are not patient, then join the PrivateForum, cause there you can access the top quality information, thus you can study much much faster.

SFP (Swing Faliure Pattern) - in a nutshell:
You look for a former swinghigh (make sure this swing high wasn't tested 20 times already. The less tested, the better). Look at this ex-swinghigh's top - you see a candle with the nose. This very top would be our SFP LIne. Now we are looking whats doin price now. If we see that price tried to go above this fromer high (so it broke the former high, it went higher) but later it wasn't able to close above it, and price went back and closed below... well thats an SFP as I know. But here again are many details: Like we like to see price accelerating into this SFP "zone" etc.
Drawing the FTAs and SLs are kinna the same - but if you are not able to do it on D/W why would you be able to do it on 4H and 1H... On 4H and 1H you just got more and more lines and you should be aware of them...

Im here since February, workin my butt off - and i still want to learn the basics. It takes time. But its worth it - i know...

Cheers,
Stephen

(If my SFP description was false, then sorry - that's kinna what I know about it - but i didn't want to go deeper, until im a pro james16 trader. )
It's all psychology...
  • #126,545
  • Jul 2, 2013 11:28am Jul 2, 2013 11:28am
Here is the continuation H2 BUOB which I took today. Nice size, closing above BRN 95 which is nize PPZ and engulfing a small box under BRN.
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  • #126,546
  • Jul 2, 2013 11:37am Jul 2, 2013 11:37am
Quoting Martin600
Here is the continuation H2 BUOB which I took today. Nice size, closing above BRN 95 which is nize PPZ and engulfing a small box under BRN. {image}
great stuff martin


This is one of the few ways I teach continuation bars. I also like you took your nice profit on this one too

Mike
  • #126,547
  • Jul 2, 2013 3:32pm Jul 2, 2013 3:32pm
Quoting LamerTrader
{quote}....My Recommendation: If you are not patient, then join the PrivateForum, cause there you can access the top quality information, thus you can study much much faster. ...
Hi, Stephen
I know, but...the only thing that stops me to join the private forum is my extremely bad english
I read that there is a live chat and I can not catch up with my best friend-Google Translate
Your best teacher is your last mistake ...
  • #126,548
  • Jul 2, 2013 3:58pm Jul 2, 2013 3:58pm
Hi everyone,

Sorry for my newbie questions, I been study this thread for a while, but I am bit confuse about entry, stop loses and exits.

Can we consider a BEEB on EU at the moment?, If that is the case, should I wait for a retest of 1.3 RN level? or can I play it at the opening of next candle with SL just above 1.3? or should I consider to wait for a retrace of the Fib levels in this candle to come into play?
What can be the best way to play it?
Can the level 1.28 be a reasonable TP?

I will appreciate you expertise and advice on this one,

Thanks in advance

Rc
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  • #126,549
  • Jul 2, 2013 4:13pm Jul 2, 2013 4:13pm
Quoting Winston Reed
Interesting charts I'm watching. {image}{image}
Have we got a confirmed break?

Regards
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  • #126,550
  • Jul 2, 2013 4:26pm Jul 2, 2013 4:26pm
Quoting kayhan7070
small risk, small stop..first target the middle of the box.. {image}
Did I missed some nice PA?
Could you specify the reason of your entry, please?

Thanks,
Stephen
It's all psychology...
  • #126,551
  • Jul 2, 2013 4:33pm Jul 2, 2013 4:33pm
Quoting Rcubic
Hi everyone, Sorry for my newbie questions, I been study this thread for a while, but I am bit confuse about entry, stop loses and exits. Can we consider a BEEB on EU at the moment?, If that is the case, should I wait for a retest of 1.3 RN level? or can I play it at the opening of next candle with SL just above 1.3? or should I consider to wait for a retrace of the Fib levels in this candle to come into play? What can be the best way to play it? Can the level 1.28 be a reasonable TP? I will appreciate you expertise and advice on this one, Thanks...
Hi Rcubic!

Can we consider a BEEB on EU at the moment? Thats right, thats a BEOB there. But just look at the beauty - it broke the BRN + the three lows. And not only the lowest close, but the LOWS as well. I think it might be interesting for jarroo
If that is the case, should I wait for a retest of 1.3 RN level? Im waiting ATLEAST for a fast retest. (I got a pending under the BRN...) But be aware of the Monthly level and the Next FTA - 50-60 pips. I would definitely send some money to the bank there
Entry style: I think you have to work on this yourself... I mean demo demo demo - notes notes notes, and you will see that in different situations you might play different entry styles. In a jarrooish mode I would do a SL somewhere under the BRN.
FTA: Definitely NOT! At 1.2950 we got some bad-ass monthly LCS + daily highs... thats a clear PPZ.

I took a short pending but just because its demo, and i practice trade mgm under this shitty market circumstances. But that close Level is a Killer Imho...

Cheers,
Stephen
It's all psychology...
  • #126,552
  • Jul 2, 2013 4:40pm Jul 2, 2013 4:40pm
Quoting Rcubic
Hi everyone, Sorry for my newbie questions, I been study this thread for a while, but I am bit confuse about entry, stop loses and exits. Can we consider a BEEB on EU at the moment?, If that is the case, should I wait for a retest of 1.3 RN level? or can I play it at the opening of next candle with SL just above 1.3? or should I consider to wait for a retrace of the Fib levels in this candle to come into play? What can be the best way to play it? Can the level 1.28 be a reasonable TP? I will appreciate you expertise and advice o
n this one, Thanks...
?
Thank you for asking this, I was asking myself exactly the same thing

So my question for experts here in addition to your is:
-if we have BEOB at swing low: is it considered a continuation bar?
-if we have BUOB at swing high: is it considered a continuation bar
  • #126,553
  • Jul 2, 2013 4:42pm Jul 2, 2013 4:42pm
Quoting Rcubic
{quote} Have we got a confirmed break? Regards {image}
I wouldnt trade... You also got the PPZ and price couldnt much close below it...
Even if it would have with a few pips, lets say 10... I wouldn't trade into that creepy choppy area
I mean just seeing your balance +X USD 0 +XUSD 0 +XUSD -Y 0 - it would be just too much stess for me...

Cheers,
Stephen
It's all psychology...
  • #126,554
  • Jul 2, 2013 4:47pm Jul 2, 2013 4:47pm
Quoting bee24
{quote} ? Thank you for asking this, I was asking myself exactly the same thing So my question for experts here in addition to your is: -if we have BEOB at swing low: is it considered a continuation bar? -if we have BUOB at swing high: is it considered a continuation bar
As far as I know they would be.

Cheers
Stephen
It's all psychology...
  • #126,555
  • Jul 2, 2013 6:21pm Jul 2, 2013 6:21pm
Quoting Martin600
Here is the continuation H2 BUOB which I took today. Nice size, closing above BRN 95 which is nize PPZ and engulfing a small box under BRN. {image}

Hey Martin, how did you get the 2H chart?
cheers


jon
PATIENCE... DISCIPLINE
  • #126,556
  • Jul 2, 2013 6:38pm Jul 2, 2013 6:38pm
Quoting Rcubic
Hi everyone, Sorry for my newbie questions, I been study this thread for a while, but I am bit confuse about entry, stop loses and exits. Can we consider a BEEB on EU at the moment?, If that is the case, should I wait for a retest of 1.3 RN level? or can I play it at the opening of next candle with SL just above 1.3? or should I consider to wait for a retrace of the Fib levels in this candle to come into play? What can be the best way to play it? Can the level 1.28 be a reasonable TP? I will appreciate you expertise and advice on this one, Thanks...
Hey Rcubic, that is a BEOB, but J16 teaches to look for them at swing highs as a reversal bar. They can be traded as continuation bar (one nice example was posted earlier) but they are a lot trickier to manage and the surrounding PA is more difficult, imo, to get a handle on. If you are new to this method i would suggest that you stick to the basics for the moment and look for BEOBs at swing highs and BUOBs at swing lows. As for the entry and stop losses, J16 teaches that the entry would be at the break of the BEOB (by a couple/few pips depending on the TF) with the SL just above the BEOBs high. They are various other methods that people use which you might want to research but the beauty of the basic method, as mbqb11 shows, is that it can give you the oppertunity to reduce your risk much more easily( by moving your SL or bailing out before it is hit). When your trading live this will be important to you. Its a matter of finding a balance between R:R (smaller SL = better R:R) and risk management. This you will have to determine for yourself.
BTW if you trade it i have the FTA at 1.2940-50 then id watch out for 1.2900, 1.2840-60 and the RN again at 1.28010. pretty choppy. Although i am pretty bearish on this pair also....??

hope this helps


jon
PATIENCE... DISCIPLINE
  • #126,557
  • Jul 2, 2013 6:45pm Jul 2, 2013 6:45pm
Quoting Rcubic
{quote} Have we got a confirmed break? Regards {image}
not the strongest of TLs imho....but
... i would say so, we have a daily close above the line and the 1.52000 level. Will it hold? who knows but there may be an oppertunity if we get a retest of that area with some PA that shows it is holding as support...???

jus my opinion...


jon
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PATIENCE... DISCIPLINE
  • #126,558
  • Jul 2, 2013 6:50pm Jul 2, 2013 6:50pm
Theres not much evidence of it being respected for the 3rd touch...?? but as a guide line it may show a break out ?? it will be more clear imo if or when price retests this area...



jon
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PATIENCE... DISCIPLINE
  • #126,559
  • Jul 2, 2013 6:55pm Jul 2, 2013 6:55pm
Quoting bee24
{quote} ? Thank you for asking this, I was asking myself exactly the same thing So my question for experts here in addition to your is: -if we have BEOB at swing low: is it considered a continuation bar? -if we have BUOB at swing high: is it considered a continuation bar
They can be but this where it gets tricky, (for me) it depends on the surrounding PA, or the story, to determine how valid/convincing they are. We cant pick bars at random and say it is a continuation bar. the story is much more important.


jon
PATIENCE... DISCIPLINE
  • #126,560
  • Jul 2, 2013 8:03pm Jul 2, 2013 8:03pm
Quoting b3g1nn3er
{quote} Hi, Stephen you're damn right ! these long wicks just make me mad {quote} Yes, i want to learn about SFP too...
This thread is really for studying Pure Price Action & although, I have also posted SFPs in this thread, I feel it could confuse new people.
So, I opened a thread called, HCR-LCS & SFP Research thread.
As the title suggests it is a Research thread for both the above mentioned methodologies.
Recently, it has struck me that, the SFP and HCR-LCS are closely linked, many times, I see a HCR or LCS area also with a small TF SFP.
This is natural when we think about it as both the HCR-LCS and the SFP are about order flow.

Anyway, here is the link to the thread but, I am not teaching it, just posting the basics and posting possible setups to see how they play out and to refine my entry.
Interesting that, the first setup I posted on a Monthly LCS & SFP on GU failed. That is why it is called the research thread.
Beware that Rank beginners to trading need to get the basics down from reading Both Jaroo's stuff here and Tom's Fail better thread.
http://www.forexfactory.com/showthre...12#post6791912

Anyone is welcome to visit and post possible setups.
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