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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

  • #130,101
  • Feb 26, 2014 7:19am Feb 26, 2014 7:19am
Hi everyone
I use to learn and familial with candlestick from the beginning I learn forex...
However I read this thread, especially james's chart, all show in tick..
Can some2 do me a favour by posting the candlestick patterns especially double bar high with lower close, double bar high with lower close etc?
Or just show me where I can get such info, maybe james or some1 in forum may post the pattern in candlestick before?

Thanks!
  • #130,102
  • Feb 26, 2014 7:38am Feb 26, 2014 7:38am
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also see ghous' post, pretty similar stuff
Quoting ghous
{quote} These charts should help. Let me know if its still unclear. g.

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Best,
Jonas
Hero calls followed by margin calls...
  • #130,103
  • Feb 26, 2014 7:55am Feb 26, 2014 7:55am
Quoting PhAnTi'
{image} also see ghous' post, pretty similar stuff {quote} {image} Best, Jonas
Beautiful charts J!

g.
I believe . . .
  • #130,104
  • Feb 26, 2014 9:09am Feb 26, 2014 9:09am
Quoting PhAnTi'
{image} Best, Jonas
Hey Phanti,

I went long on the setup.
No PA bar on small TF though, just some pips above the retest of the left shoulder, which happened to be quite a good entry so far (1.0740).
Price has broken lower out of a wedge / triangle on H1 chart, but I shouldn't let this affect my monthly position.

See my explorer more details on the setup and where I am in 'the curve'.
Feedback - especially from seniors like yourself - is most welcome!

All the best!
W
It's a sport, an artform and a science.
  • #130,105
  • Feb 26, 2014 9:27am Feb 26, 2014 9:27am
Quoting Donaciello
{quote} Hey Phanti, I went long on the setup. No PA bar on small TF though, just some pips above the retest of the left shoulder, which happened to be quite a good entry so far (1.0740). Price has broken lower out of a wedge / triangle on H1 chart, but I shouldn't let this affect my monthly position. See my explorer more details on the setup and where I am in 'the curve'. Feedback - especially from seniors like yourself - is most welcome! All the best! W

Hey mate,

please consider the following whenever trading different timeframes.
As in the AUD/NZD example, if you entered long trading the bullish pinbar on the monthly chart, no action on any other tf should affect your trade.
You entered on a price pattern shown on a certain (in this case monthly ) tf, so you also place the target and the stop by analysing the very same timeframe.
Also trading the monthly induces that this trade might be good for a 6-8 month timespan (or even longer). You definitely cannot expect a 300 pip profit out of a monthly tf trade within 2 days. Sure that might be possible, but won't be the rule ever. These timeframes (imho H4,Daily,weekly,monthly) are for swing.
So patience is the key and absolutely necessary to do it long time.

Best,
Jonas
Hero calls followed by margin calls...
  • #130,106
  • Feb 26, 2014 11:50am Feb 26, 2014 11:50am
Quoting ehrek
He just bought 5 million worth of AUD, shorting usd. Post chart up in 2 days when it hits 9250
Wow. I sure do hope "HE" knows what a stop loss is.

Never mind the chart.



g.
I believe . . .
  • #130,107
  • Feb 26, 2014 12:25pm Feb 26, 2014 12:25pm
Quoting nsn14
Hi everyone I use to learn and familial with candlestick from the beginning I learn forex... However I read this thread, especially james's chart, all show in tick.. Can some2 do me a favour by posting the candlestick patterns especially double bar high with lower close, double bar high with lower close etc? Or just show me where I can get such info, maybe james or some1 in forum may post the pattern in candlestick before? Thanks!
Hey Nsn

A bar chart is the same as a candlestick since they both show OHLC

For reference here is a DBLHC and a DBHLC in candlestick for you. I noted some others as well. Note these are not all the locations we should be looking but rather just the bar types for you

Hope it helps
Mike
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  • #130,108
  • Feb 26, 2014 3:39pm Feb 26, 2014 3:39pm
Quoting mbqb11
{quote} Hey Nsn A bar chart is the same as a candlestick since they both show OHLC For reference here is a DBLHC and a DBHLC in candlestick for you. I noted some others as well. Note these are not all the locations we should be looking but rather just the bar types for you Hope it helps Mike {image}
Hi Mike,
Thanks so much! It is clear now!!
  • #130,109
  • Feb 26, 2014 6:02pm Feb 26, 2014 6:02pm
Anyone looking at this setup?
Support has been tested quite often and I'm very curious to see what happens if this breaks down.
I think however that a breakout higher is more likely.

W
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It's a sport, an artform and a science.
  • #130,110
  • Feb 26, 2014 6:35pm Feb 26, 2014 6:35pm
Quoting PhAnTi'
{quote} Hey mate, please consider the following whenever trading different timeframes. As in the AUD/NZD example, if you entered long trading the bullish pinbar on the monthly chart, no action on any other tf should affect your trade. You entered on a price pattern shown on a certain (in this case monthly ) tf, so you also place the target and the stop by analysing the very same timeframe. Also trading the monthly induces that this trade might be good for a 6-8 month timespan (or even longer). You definitely cannot expect a 300 pip profit out of...

Hi Jonas,

My SL at 1.0745 just got taken out, but I'm looking for an entry lower, with PA.
Do you think I moved my SL prematurely?

Thanks in advance!
W
It's a sport, an artform and a science.
  • #130,111
  • Feb 27, 2014 3:07am Feb 27, 2014 3:07am
Quoting PhAnTi'
always search for ranges and boxes. Sell the highs, buy the lows. If price breaks out we trade the retests at the pole levels. So no matter where price go, we are pipping. Stops close below/above bottoms/tops. {image} Best, Jonas
Hi PhAnTi,
could you explain more about "If price breaks out we trade the retests at the pole levels. So no matter where price go, we are pipping"

Thanks in advance

arasu11
  • #130,112
  • Feb 27, 2014 7:55am Feb 27, 2014 7:55am
Quoting arasu11
{quote} Hi PhAnTi, could you explain more about "If price breaks out we trade the retests at the pole levels. So no matter where price go, we are pipping" Thanks in advance arasu11
Guess Phanti means:
if price bounce from the top/bottom of the range: sell the top / buy the bottom
if price breaks through roof / floor: buy / sell the retest, ie price is likely to come back (or close to) the roof / floor giving us an opportunity to enter a trade.

A very efficient way to trade during consolodation


take care
Slow & steady
  • #130,113
  • Feb 27, 2014 11:01am Feb 27, 2014 11:01am
Quoting mbqb11
{quote} This is one reason I stress ALL the time to people to watch as many markets as they can get their hands on. You will never get too bored with the markets and during slow times you tend to be able to find something(or the slow times don't last long) . The FX markets were CRAZy busy a few weeks ago and as one might suspect things need to settle a bit before it happens again. But equities have been great too here is my updated LTXC chart and stop http://www.forexfactory.com/showthre...60#post7185460 {image} as well as...
my updated stop loss on LTXC been a nice ride.
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  • #130,114
  • Feb 27, 2014 11:29am Feb 27, 2014 11:29am
Quoting mbqb11
{quote} my updated stop loss on LTXC been a nice ride. {image}
Monster trade!

Elmer Fudd's been busy

g.
I believe . . .
  • #130,115
  • Feb 28, 2014 2:03am Feb 28, 2014 2:03am
Ghous,

Do you think that this is a valid setup?

Or would you wait for price to test the purple box?

Ken
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  • #130,116
  • Feb 28, 2014 2:21am Feb 28, 2014 2:21am
Quoting ken.b
Ghous, Do you think that this is a valid setup? Or would you wait for price to test the purple box? Ken {image}
Hi ken,

I'd like to notify you of the larger story I see in this situation, which leaves little space for bullish movement.

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If you want me to expand on this, just let me know.
As for the validity of the fake-out scenario.. I'd really rather leave that to ghous, as I'm not by far familiar enough with his style.

Good luck trading!
W
It's a sport, an artform and a science.
  • #130,117
  • Feb 28, 2014 3:24am Feb 28, 2014 3:24am
After two positive months, just had a real stinker, finishing 230 pips down, which worked out at about 2% of my account.

Looking forward to going through my month's trades this weekend - no doubt there will be a good number of weak signals, buying into traffic, wanting to be in the market etc.

Onwards and upwards
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,118
  • Feb 28, 2014 3:41am Feb 28, 2014 3:41am
Quoting Berserker
After two positive months, just had a real stinker, finishing 230 pips down, which worked out at about 2% of my account. Looking forward to going through my month's trades this weekend - no doubt there will be a good number of weak signals, buying into traffic, wanting to be in the market etc. Onwards and upwards
Good to hear you've had promising results, but occasional drawdowns are inevitable.
Would you post some charts?
Maybe we can give some feedback.

Right now, I'm doing slightly worse than BE, for quite some time now.
Peak-to-valley-to-peak-drawdown is taking more than a monthly already.

Best of luck in your further trading!
W
It's a sport, an artform and a science.
  • #130,119
  • Feb 28, 2014 4:06am Feb 28, 2014 4:06am
Quoting Donaciello
{quote} Good to hear you've had promising results, but occasional drawdowns are inevitable. Would you post some charts? Maybe we can give some feedback. Right now, I'm doing slightly worse than BE, for quite some time now. Peak-to-valley-to-peak-drawdown is taking more than a monthly already. Best of luck in your further trading! W
Thanks! Sure, will post a few charts prob early next week ( missus taking me away for my birthday this weekend ). No doubt I'll be embarrassed at a few of the trades a I took, but I think this is a worthy price to pay for some feedback from the trading brains on here.

Cheers pal, and good luck for your next month!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,120
  • Feb 28, 2014 4:21am Feb 28, 2014 4:21am
Quoting ken.b
Ghous, Do you think that this is a valid setup? Or would you wait for price to test the purple box? Ken {image}
Hey Ken,

Donaieillo nailed it there.

I don't use fake outs as a stand alone method / system. I use them as a slight variation to the typical J16 method. Which means that the story around my setups is absolutely imperative.

A pin bar itself contains a lot of information but you'll notice we use it as a mere trigger to fire a trade off of great locations. Like wise the fake out itself is a good indication of where price should go but it still works best when you work around a solid story around it.

So here, if I say we had a bullish pin bar closing under all that consolidation, would you trade it long? Why not? Clearly because there is a lot of mess up above which kills the trade for space. The same concept would apply to the fake out too.

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g.
I believe . . .
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