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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

  • #131,481
  • Jul 13, 2014 3:07am Jul 13, 2014 3:07am
Quoting Donkey
{quote} Hello. That is not a pinbar. It is an inside bar - the bar's entire range is within the previous bar high and bar low. IB's are very tough to play in my opinion.
i have been studying IBs and they do seem tricky

unfortunately on my charts at the moment (looked at 9 pairs) they are all IBs on the daily!!!
  • #131,482
  • Jul 13, 2014 3:30pm Jul 13, 2014 3:30pm
Need views on this BUOB on USD/CAD daily. Minor PPZ at 1.0750.
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  • #131,483
  • Jul 13, 2014 4:46pm Jul 13, 2014 4:46pm
Quoting zohaib
Need views on this BUOB on USD/CAD daily. Minor PPZ at 1.0750. {image}
hi zohaib, do you mind explaining your entry on this occasion?
  • #131,484
  • Jul 14, 2014 2:31am Jul 14, 2014 2:31am
Quoting flash4
{quote} hi zohaib, do you mind explaining your entry on this occasion?
Entry in chart was not with PA. I have been waiting for this zone from some time so basically it was a touch trade.
  • #131,485
  • Jul 14, 2014 1:34pm Jul 14, 2014 1:34pm
...dead
  • #131,486
  • Jul 14, 2014 5:49pm Jul 14, 2014 5:49pm
stay patient Dan least it allows us to enjoy the summer for a bit

Nice divergence here and rounding of price. Looking for solid PA on a breakout of the TL could signal at least a small move higher and offer up some nice pips. Just gotta keep waiting though
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  • #131,487
  • Jul 15, 2014 2:33am Jul 15, 2014 2:33am
Quoting mbqb11
stay patient Dan least it allows us to enjoy the summer for a bit Nice divergence here and rounding of price. Looking for solid PA on a breakout of the TL could signal at least a small move higher and offer up some nice pips. Just gotta keep waiting though {image}
Hi Mike, Sincerely we cant thank you enough, so i wont say thanks..... Please how does one identify a divergence and what does it say about price.

No Thanks.
  • #131,488
  • Jul 15, 2014 5:28am Jul 15, 2014 5:28am
thoughts on the BUOB (still a while to go for candle to complete) off the trendline ?
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  • #131,489
  • Jul 15, 2014 6:29am Jul 15, 2014 6:29am
Quoting contrails
nice bearish signal bar yesterday to get me on the downtrend on USDILS {image}
in case you don't receive this pair trade worked nicely and now I am 100% flat
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  • #131,490
  • Jul 15, 2014 8:21am Jul 15, 2014 8:21am
Quoting rabzy
{quote} Hi Mike, Sincerely we cant thank you enough, so i wont say thanks..... Please how does one identify a divergence and what does it say about price. No Thanks.
Hey Rabzy

You are quite welcome

Divergence is actually very easy to spot. Once you learn to spot it on your chart without using an oscillator you will have a better feel for price. Our oscillator is just a calculation off price and thus that's why people use MACD.

Here is a screen shot to explain how one can spot divergence without and with MACD. Note just because we have divergence doesn't mean we should use that as a signal by itself. It's a layer of confluence.

Hope this helps
Mike
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  • #131,491
  • Jul 15, 2014 11:15am Jul 15, 2014 11:15am
Quoting mbqb11
{quote} Hey Rabzy You are quite welcome Divergence is actually very easy to spot. Once you learn to spot it on your chart without using an oscillator you will have a better feel for price. Our oscillator is just a calculation off price and thus that's why people use MACD. Here is a screen shot to explain how one can spot divergence without and with MACD. Note just because we have divergence doesn't mean we should use that as a signal by itself. It's a layer of confluence. Hope this helps Mike {image}
see rabzy how price made a new low and is once again finding buyers trying to come in. That's how we can use areas with divergence to look for buys too. Of course this is a very tight choppy range so I wouldn't like to be a buyer unless the PA was very clear with additional confluence. But it's nice to watch price at work and helps one get a better handle on things
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  • #131,492
  • Jul 15, 2014 11:28am Jul 15, 2014 11:28am
Closed most of my previous positions.

USDCHF BE now and going my way...

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  • #131,493
  • Jul 15, 2014 11:40am Jul 15, 2014 11:40am
Quoting mbqb11
{quote} see rabzy how price made a new low and is once again finding buyers trying to come in. That's how we can use areas with divergence to look for buys too. Of course this is a very tight choppy range so I wouldn't like to be a buyer unless the PA was very clear with additional confluence. But it's nice to watch price at work and helps one get a better handle on things {image}

Thanks Chief, that was quite explicit and lucid to me..so we are talking about a kind of rounding off effect, Like a leveling out of a gradient or sharp descent/rise, sometimes forming a ranging market or channel....hope am getting it.

Thanks a bunch.
  • #131,494
  • Edited 4:20pm Jul 15, 2014 3:57pm | Edited 4:20pm
Pinbar at confluence of PPZ, round number and TL.

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  • #131,495
  • Jul 15, 2014 4:10pm Jul 15, 2014 4:10pm
BEOB and IB at major PPZ 0.95

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  • #131,496
  • Jul 15, 2014 4:18pm Jul 15, 2014 4:18pm
BUOVB at major PPZ 6.20 and TL

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  • #131,497
  • Jul 15, 2014 4:28pm Jul 15, 2014 4:28pm
IB and BUOVB at major PPZ 1.0650

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  • #131,498
  • Jul 16, 2014 2:52am Jul 16, 2014 2:52am
Oh so close to the TP.. Uh Oh!
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  • #131,499
  • Jul 16, 2014 4:10am Jul 16, 2014 4:10am
Quoting Nazarm
Pinbar at confluence of PPZ, round number and TL. {image}
I took this one from 4h perspective. A little bit tricky trade, although I decided it has a very good safe spot, so I took it. It is 8h pinbar from very clear PPZ. Glad it worked. Think lot of people were hurt from this one after blind selling on the break.
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If not up, then down, otherwise sideways :-)
  • #131,500
  • Jul 16, 2014 11:34am Jul 16, 2014 11:34am
Hey Mike,

I was going to through James's charts from the beginning. I noticed something interesting. HE NEVER TRADED INSIDE BARS. Most of his setups consists of Pinbars and outside bars. My research now has indicated that IB setups can be very unreliable , but at the same time they can be good runners.

Did James know that IB setups don't give you the edge and hence he never took them or is there some good criteria about IB that i am missing.

What is your opinion on them? I know people have talked about it here in that past posts, but i am not able to find them.

Could you tell me from your experience, when would a IB likely to work out?

other expert traders can also post their opinion on IBs.

Most of the time what they do is - they break and then reverse on you resulting in a loss. But sometimes they run like crazy. I can't figure out when they work and when they don't. Is the outcome of an IB Setup random compared to say a PB or OB setup?.

Thanks.
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