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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

  • #132,041
  • Sep 1, 2014 6:45am Sep 1, 2014 6:45am
Quoting mbqb11
{quote} Also Xam have you checked out my free videos , like the newbie webinar I put out for guests here. This should give you a better idea on location new traders should start learning these bars at. https://www.youtube.com/watch?v=jSV_3-FSslk As well as my space vs traffic video which is another way traders get into trouble(especially the way FX has been the past few months) https://www.youtube.com/watch?v=F-31fRCUuRs The most important thing about any bar is location, from there we can develop a trade plan that makes sense....
Hi Mike,

Great video, learn a lot on PA bars. Thanks a lot.
  • #132,042
  • Sep 1, 2014 6:52am Sep 1, 2014 6:52am
USDJPY - A little late in entry , but BE for now..

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Update : EURNZD - Locked enough profit...

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  • #132,043
  • Sep 1, 2014 10:13am Sep 1, 2014 10:13am
Quoting Xamarass
{quote} ---------------TRADE 4--------------------XAMARASS------------------------------BAD SEQUENCE----------------------------------------- Each trade has his history, and I like to remember that, that one was again a loosing trade, I was just back from vacation after having driven for 12 hours throught Italy and sitting on my desk, I said ok, vacation are finished but now I bring from vacation a new knowledge, trading ideas, and a lot of couriosity to experiments ....so I open my MT4 platform looking for good charts and I have found an AUDNZD...
Hey Xamarass

I'll finish out the trades that you posted. This one i'm a bit confused about but if the bar you traded is the one on my chart then it's a pinbar in heavy traffic. Again this means trouble is close, and price is sideways. Having such an optimistic target is very unlikely to get hit in a situation like this. A take profit needs to be based on the story of the setup. The further a target is the harder it's going to be to get too so if a market is stuck in a box that box is likely to continue to chop price. IF price can get outside the box then their is a good chance the box flips and holds
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  • #132,044
  • Sep 1, 2014 10:16am Sep 1, 2014 10:16am
Quoting Xamarass
Hi all, below my trade 5 -------------TRADE 5--------------XAMARASS---------------BAD SEQUENCE------------------------------------- That trade was in a good context (in my opinion) there is a descending channel, in which I found close to the upper part of the channel a pin bar showing a possible price reduction that I decided to trade as per the second attachment (SL: red area; TP: green area; buy zone: bluarea). In that trade the expectancy was good (2,9R) and I move the SL to breakeven. In any case if I wouldn't have moved the SL the trade would...
Hey X

This is a lot like the last one in that we have no space and no swing point. This is also not technically a pinbar.
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  • #132,045
  • Sep 1, 2014 10:17am Sep 1, 2014 10:17am
Quoting aserbfx
{quote} do not force yourself into the market. you don't need to trade every day and you don't need to have open orders all the time. let the setups come to you....
great advice

It's true I know those of you learning want to trade because that's how we learn. But trading is a bit different. Just trading actually can hinder our learning process. While trading is important and making mistakes we still must be vigilant(no matter what point you are as a trader) to be as picky as you know how at the time
  • #132,046
  • Sep 1, 2014 10:20am Sep 1, 2014 10:20am
Quoting Xamarass
Hi All, and sorry to use a lot of posts with banal trades.... belwo my trade n°6 -------------------------TRADE 6-----------------------------XAMARASS-------------------BAD SEQUENCE----------------------- That trade is on AUDJPY - H4 chart on August 19; position short with sl and tp as in the excell file. I saw an uptrend channel whit a chance of a short position on the pin bar in blu. Probably in that case the tp was completely wrong and trade no sense in that position I had to wait a pin bar forming closer to the trend line (correct ?) The result...
chart
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  • #132,047
  • Sep 1, 2014 10:21am Sep 1, 2014 10:21am
Quoting Xamarass
{quote} Hi MIke, be sure I will follow the video attached, in same case english still a barrier for me in tech language but I will listen again more time.... cheers
that's so tough. I'm always so impressed how many of you where English is not your first language. We have members of the group that have learned english just to join us. That blows me away and is a lot harder than trading for me!
  • #132,048
  • Sep 1, 2014 10:21am Sep 1, 2014 10:21am
Quoting slade1986
TNAV Trade. Entered at an average of $6.02 exit @ $6.92. Nice quick little trade. Spending much more time with Equities (9 for 11 this YTOD) this year. {image}
great job Slade

Yes i've been mostly dominated by equities this year myself too. It's so great to have tons of markets to watch
  • #132,049
  • Sep 1, 2014 10:25am Sep 1, 2014 10:25am
Quoting Xamarass
{quote} Hi All, in the "Poster" of the PIN BAR training material the definition of DBLHC is defined as: a double bar low with a higher close. Two consecutive bars with the low being equal and the close of the second bar outside/above the previous. (bullish) And the picture is consistent with that definition In the video (min: 50:00) is described as patter with low being equal and the close of the second bar higher than the higher 1st bar I think the video is right is that true ? Cheers
Hey X

Both statements above are saying the same thing. I'm a bit confused here maybe I misunderstood

A DBLHC

Has two matching lows, and the close of the second bar closes above the high of the first bar

Mike
  • #132,050
  • Sep 1, 2014 10:26am Sep 1, 2014 10:26am
Quoting Xamarass
Hi All, lot of traffic here ! have sense ? cheers {image}
yes a lot of traffic here. I wouldn't just open a sell if price closes under that area but it's a better understanding of what may happen. Use that information combined with PA bars now but you are making progress

Best
Mike
  • #132,051
  • Sep 1, 2014 10:28am Sep 1, 2014 10:28am
Quoting Xamarass
Hi All, is that BEOB relevant ? cheers {image}
notice here again X that we have no space here and the bar is in the middle of no mans land. It could just be in the middle of a box forming. Becomes really hard to play, if you sell on a break you are right at trouble. Just no story here so we are left with a bar not at a good swing point in a lot of traffic. Very tricky to try to play these when starting out

Best
Mike
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  • #132,052
  • Sep 1, 2014 10:29am Sep 1, 2014 10:29am
Quoting FXBat
{quote} thanks for your simple and logical chart with trade explanation, Mike!!! your explanations are priceless!!!
you are quite welcome
  • #132,053
  • Sep 1, 2014 10:31am Sep 1, 2014 10:31am
Quoting FXBat
hi guys, Anyone considering going short on NZDUSD after the PB from last Thu? My reasons for taking the trade are: strong downtrend, downward TL confirmed by 3 touch points, PB rejected from Resistance and RN 0.8400, space for at least 60 p down to next RN 0.83 which can yield a minimum 1:1 profit ratio + friday's bar confirm the rejection at that level. Also there was this small gap down in the beginning of last week at 0.8370ish that can provide some resistance too (as you can see, no candle last week managed to close above this gap). Am I making...
Hey Bat

Be careful with your TLs they can mislead you into a tricky situations. Notice your TL starting point is not at a swing point but curved to fit a point that lines up with your last two points. If we step back this pinbar is not at a swing high and stuck in a tight little box. This is much like some of my posts from today to X about being in traffic and a tight box. Trading in those areas is one of things that chop up peoples accounts.

Best
Mike
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  • #132,054
  • Sep 1, 2014 10:37am Sep 1, 2014 10:37am
Quoting Xbd14
Hi all CADJPY... Pin Bar at confluence? {image}
Hey XBD

put some notes on a chart
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also I mocked up what we want that chart to really look like
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  • #132,055
  • Sep 1, 2014 10:40am Sep 1, 2014 10:40am
Quoting Xamarass
{quote} Thanks for your comment on my first chart; - yes for that trade the result was good - I undestood your comment; first see charts on weekly time frame (big picture) without looking for bars, looking for SR, trend, channels, swing up and down etc.... (fibonacci retr maybe close to same resistance or support etc...9 - looking in particular on swing up or down try to identify pin bar or other bar - try to identify area without traffic (more easy to trade there) - don't force a trade (only if goog reason ) - too start only easy bar weekly better...
FTA = First trouble area. This is the first point that possibly can turn price. FTA is very important to understanding how to trade a trade. The weaker a setup is the more the FTA must be used crucially.

PPZ = Price Pivot Zone. This is the flip b/w support and resistance and here is some more information
Quoting mbqb11
{quote} yes a PPZ is simply an "area" where there is a flip b/w support and resistance These can be zones, and are often not one specific point. Often times they line up with other things such as round numbers Posts that best explain it http://www.forexfactory.com/showpost...postcount=9035 http://www.forexfactory.com/showpost...postcount=9037 http://www.forexfactory.com/showpost...postcount=9038 http://www.forexfactory.com/showpost...postcount=9040 http://www.forexfactory.com/showpost...postcount=9041...
  • #132,056
  • Sep 1, 2014 10:42am Sep 1, 2014 10:42am
Quoting Kouroushi
{quote} Mike, What's this website about? Is it a commercial web & when it's launch you're gonna leave us here? Yours
Hey K

No I won't be leaving you guys The group has existed for a long time now as you can see many don't even know about us. www.james16group.us is the current site and we've been around for a long time. The new site is simply an upgrade to the current site for our members. I will always jump in here as much as I can. The new site will also have a new guest area for non paying members that will be updated frequently

Best
Mike
  • #132,057
  • Sep 1, 2014 10:42am Sep 1, 2014 10:42am
Quoting Alfans16
{quote} Hi Mike, Great video, learn a lot on PA bars. Thanks a lot.
Thanks Alfans I am glad it helped!

Mike
  • #132,058
  • Sep 1, 2014 12:56pm Sep 1, 2014 12:56pm
Quoting mbqb11
{quote} Hey XBD put some notes on a chart {image} also I mocked up what we want that chart to really look like {image}
Hi Mike.
Wow thanks a lot for taking your precious time to explain. I believe will learn a lot.

Thanks FXBat

God Bless you all
  • #132,059
  • Sep 1, 2014 1:14pm Sep 1, 2014 1:14pm
Mike or anyone experienced, i took this buob on its close with trouble areas marked in red. Would you say the trade have potential or is it a to simplistic analysis?
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  • #132,060
  • Sep 1, 2014 2:00pm Sep 1, 2014 2:00pm
Quoting ekling
Mike or anyone experienced, i took this buob on its close with trouble areas marked in red. Would you say the trade have potential or is it a to simplistic analysis? {image}
Hey E

I think your trade was fine, the thing that worries me is time of day with that bar into the long weekend. A good time for people to take profit after that down move so your kind of left at an off time if it doesn't just keep shooting higher. I'd have played it as follows on my chart and been out for b/e if I had to take it. It's still trying to hold at this box top though

Best
Mike
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