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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

  • #127,021
  • Jul 30, 2013 8:21am Jul 30, 2013 8:21am
Quoting Pinbar
{quote} You can read all you want into a bar like that, as T said. I think you missed the bigger story going on. I just see it as having dropped back into this box of consolidation, with the 365 and 0.8250 as confluence to contend with. You are entitled to your opinion. {image} {image}
I agree with you about the bar (I said it wasn't good from the start); it's not a good bar; there's no debate there.

Sorry, the last post was 2 different points:
1 - to say the original question was to learn what most people feel about confluence
2 - a completely different point to simply say that 8200 has proven to be a very decisive PPZ. as Winston Reed said, it may just be a decent place to look for PA.

Thanks for your opinions and replies! I take them into account.
  • #127,022
  • Jul 30, 2013 8:29am Jul 30, 2013 8:29am
Quoting LiFZ
{quote} I agree with you about the bar (I said it wasn't good from the start); it's not a good bar; there's no debate there. Sorry, the last post was 2 different points: 1 - to say the original question was to learn what most people feel about confluence 2 - a completely different point to simply say that 8200 has proven to be a very decisive PPZ. as Winston Reed said, it may just be a decent place to look for PA. Thanks for your opinions and replies! I take them into account.

I was trying to show you the bigger picture.
If you don't want to see it, as appears the case, that is ok also.
I shall not waste my breath in the future.
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  • #127,023
  • Jul 30, 2013 8:30am Jul 30, 2013 8:30am
Quoting tehuringa
{quote} This.....it wouldn't register for me either. No space, tracking sideways, nowhere near perfect pinbar. You can draw lot's of lines/fibs on a chart and try and justify a trade, adding credence to something that you no is not an "A" trade and subsequently jump in and get get cleaned out. Stick to the basics, trade only A-grade setups....just concentrate on pin-bars at first on demo, adding in layers of more PA setups as you gain confidence and you will find that these high probability trades work. Write a trading business plan that lays...
Yo Dave!

Its been a while . . .

Wazzupp Mate?

g.
I believe . . .
  • #127,024
  • Edited 9:29am Jul 30, 2013 8:54am | Edited 9:29am
Hey guys,

I just downloaded the BRN indicator that Mike uses. I put the file in FxPro under "experts" then "indicators" and for some charts it shows a variables number of BRN lines depending on the chart. Some show 4 others show 6. Is that normal?
  • #127,025
  • Jul 30, 2013 9:32am Jul 30, 2013 9:32am
Eur/usd on my watchlist, looks very interesting
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  • #127,026
  • Jul 30, 2013 9:35am Jul 30, 2013 9:35am
Quoting Pinbar
{quote} I was trying to show you the bigger picture. If you don't want to see it, as appears the case, that is ok also. I shall not waste my breath in the future. {image}
Thanks, I do see it and appreciate it -- but I wasn't going for a debate, so we can let it die. I very simply wanted to hear how multiple people would have analyzed a generalized setup given C-grade PA with good confluence; curiosity, nothing more. The specificity seems to have interrupted the results and I felt I needed to clear up that I was NOT trading it (since 2 people came at it pretty hard). You made your opinions very clear. I respect and understand them; I even said I agree with most of them. No need for further discussion, nor derisive comments on that.


Anyway, as a general rule I look for good PA to come into predefined confluence. For me, if there's no good PA, there's no trade. In that setup, there was no good PA and I didn't trade it! The curiosity had me going as to how others viewed that type of thing. I hope they did what all 3 of us who responded did: stayed out.
  • #127,027
  • Jul 30, 2013 9:48am Jul 30, 2013 9:48am
Hey Mike! Its been a while

Have not been trading much myself and got out of touch with it and the concepts learnt over at the PF while I was there. Just getting back into it now and wanted to get your opinion on this chart ive been watching for a few days. I wont go into all the details of the chart since you will know what im looking at but ive made a few markings on the chart. The pattern however is a little large for a 1hr TF but a little too small on the 4H. I remember a bit about what you said over in the PF about pattern size (which webinars was it that focused on this ?). Anyway, any comments would be much appreciated.

Chart is H1

Cheers
Dan
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  • #127,028
  • Jul 30, 2013 12:52pm Jul 30, 2013 12:52pm
Quoting dan89
Hey Mike! Its been a while Have not been trading much myself and got out of touch with it and the concepts learnt over at the PF while I was there. Just getting back into it now and wanted to get your opinion on this chart ive been watching for a few days. I wont go into all the details of the chart since you will know what im looking at but ive made a few markings on the chart. The pattern however is a little large for a 1hr TF but a little too small on the 4H. I remember a bit about what you said over in the PF about pattern size (which webinars...
Hey Dan

I was browsing through the PF just now and noticed this question. Was this the one?


http://www.james16group.us/forums/im...quote_icon.png Originally Posted by dan_89 http://www.james16group.us/forums/im...post-right.png
Thanks for the reply Mike. Do you have any videos on the subject of pattern size and timeframe ?

Thanks
Dan




Just a reminder for Mike if he wants to find his response it's on the


Breakout-Trading-Discussion-Thread/page114 (40 messages per page setting)
  • #127,029
  • Jul 30, 2013 2:41pm Jul 30, 2013 2:41pm
Nice one Hunzul. I remember Jarroo mentioning a particular webinar or 2 that was on pattern size. Just trying to remember what webinar that was though.. anyone know ?
  • #127,030
  • Jul 30, 2013 3:24pm Jul 30, 2013 3:24pm
Quoting dan89
Hey Mike! Its been a while Have not been trading much myself and got out of touch with it and the concepts learnt over at the PF while I was there. Just getting back into it now and wanted to get your opinion on this chart ive been watching for a few days. I wont go into all the details of the chart since you will know what im looking at but ive made a few markings on the chart. The pattern however is a little large for a 1hr TF but a little too small on the 4H. I remember a bit about what you said over in the PF about pattern size (which webinars...
Hey, Dan! Look at this one :-)
Quoting mbqb11
I just emailed the private group...
If not up, then down, otherwise sideways :-)
  • #127,031
  • Jul 30, 2013 3:37pm Jul 30, 2013 3:37pm
Quoting dan89
Nice one Hunzul. I remember Jarroo mentioning a particular webinar or 2 that was on pattern size. Just trying to remember what webinar that was though.. anyone know ?

Can't help you with that one I'm afraid.

Here is the first part of what Mike said on October 2012:

"I haven't done a direct video on it, I might do that soon though. You will see me speak about it in a ton of webinars though cause the topic comes up a lot. If anyone off their top of their head remembers one let me know. I know i've spoke about it quite recently in the last few months."
  • #127,032
  • Jul 30, 2013 4:22pm Jul 30, 2013 4:22pm
Quoting Winston Reed
{quote} Hey Lifz, Just my 2 cents here but this is what I think. The story is the most important and the stories can be multifaceted. The story can be a weekly, daily or H4 story. Sometimes even a H1 story but when learning it is best to stick to the higher time frames. Watching Mike's videos will help with this. Recognizing the story is crucial whether it is boxing, TLs or PPZs or combinations. Once you become familiar with defining the story then the trading plan starts to not-so-magically reveal itself. I can say for sure when you are learning...
great stuff Winston! This is definitely how I think about things too!
  • #127,033
  • Jul 30, 2013 4:24pm Jul 30, 2013 4:24pm
Quoting LiFZ
I'm going to post another chart in a minute (the one I asked you about Mike) but here is one that I'm curious about. For the sake of learning, if we assume the current bar closed right now, how would you guys analyze this trade? The bar ins't a monster bar but there does seem to be nice confluence (a good "story"?): 2 fib retracements (38.2 from this month's low and 61.8 from the previous swing low) A well respected PPZ BRN 150 EMA Minor pin bar Note the divergence also. {image}
Hey L


For me this is a bar that I wouldn't even think twice about personally. It's a very small bar with a small nose and weak close. Those are all signs that the market isn't convincing. I am VERY picky with my bars and it makes it easier for me to look for bars that stand out more

Small bars work, but mostly give new traders a lot of trouble from what I have seen over the years

Best
Mike
  • #127,034
  • Jul 30, 2013 4:25pm Jul 30, 2013 4:25pm
Quoting hunzul
{quote} Can't help you with that one I'm afraid. Here is the first part of what Mike said on October 2012: "I haven't done a direct video on it, I might do that soon though. You will see me speak about it in a ton of webinars though cause the topic comes up a lot. If anyone off their top of their head remembers one let me know. I know i've spoke about it quite recently in the last few months."

yeah i think Jarroo responded to that post with a couple of webinars ...
  • #127,035
  • Jul 30, 2013 5:16pm Jul 30, 2013 5:16pm
09-04-12 and 7-10-12 webinars.
  • #127,036
  • Jul 30, 2013 8:07pm Jul 30, 2013 8:07pm
I Missed this one but I think it's worth a look. A h4 ascending wedge broke to the downside but the PA on the break wasn't enough. Looking at the H1 after the break price came back and tested the TL. It bounced off the TL with a large BEOEB. Pretty nice.
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  • #127,037
  • Jul 30, 2013 8:27pm Jul 30, 2013 8:27pm
Quoting dennis4u15
hi mike, Winston it seems that Eur/Aud has broken out of the box and just wanted to know if you feel that the previous ppz may now act as support as marked on the chart with the arrow. the confluence(s) i see are the box is broken and the resistance may turn to support which is just above the box. 3 touches of the trendline, the trendline and the merger of the ppz zone..i do know that if price does come back then we have to wait for PA. Regards Dennis {image}
Hey Dennis

Yep this makes sense. Although i think perhaps sticking to the weekly buob as an entry would have made sense too. I have actually pulled that order but it's still valid

Here was that chart to add some dimension to yours
http://www.forexfactory.com/showthre...69#post6820169
Best
Mike
  • #127,038
  • Jul 30, 2013 8:29pm Jul 30, 2013 8:29pm
Quoting gasgas
Mike Would u consider trade like this? {image}
sure dude

I took the aud/jpy breakout

Here were my charts from the PF

at breakeven now
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  • #127,039
  • Jul 30, 2013 8:37pm Jul 30, 2013 8:37pm
Quoting tehuringa
{quote} This.....it wouldn't register for me either. No space, tracking sideways, nowhere near perfect pinbar. You can draw lot's of lines/fibs on a chart and try and justify a trade, adding credence to something that you no is not an "A" trade and subsequently jump in and get get cleaned out. Stick to the basics, trade only A-grade setups....just concentrate on pin-bars at first on demo, adding in layers of more PA setups as you gain confidence and you will find that these high probability trades work. Write a trading business plan that lays...

Good old Dave
  • #127,040
  • Jul 30, 2013 10:49pm Jul 30, 2013 10:49pm
Quoting Winston Reed
I Missed this one but I think it's worth a look. A h4 ascending wedge broke to the downside but the PA on the break wasn't enough. Looking at the H1 after the break price came back and tested the TL. It bounced off the TL with a large BEOEB. Pretty nice. {image} {image}
Hi REED,I'm a newbie here!Can u explain me what ''BEOEB'' means?Thanks!
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