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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

  • #132,601
  • Oct 13, 2014 7:24am Oct 13, 2014 7:24am
Quoting zamfir
{quote} Second bar close MUST be above than the high of the previous bar.
Thanks Zamfir looking at the definition in the PINBAR poster I copied the definition (as above reported) and is reported that the closeprice
has to be above the previous closeprice (and the picture in the poster is exactly the situation in my screen)
that was mesleading
regards
Xam
  • #132,602
  • Oct 13, 2014 7:33am Oct 13, 2014 7:33am
Quoting fxgroup
{quote} Hi Xam.....that's an IPB !

what is a IPB?

Thanks
  • #132,603
  • Oct 13, 2014 7:54am Oct 13, 2014 7:54am
Quoting keziahpie
{quote} what is a IPB? Thanks
inverted pin bar
Market can stay irrational longer than you can stay solvent.
  • #132,604
  • Oct 13, 2014 8:40am Oct 13, 2014 8:40am
Quoting Alehandro
Hi Mike and others, What do you think about trading instruments - I mean not Forex, but NYSE, NASDAQ, AMEX markets or maybe you use another markets (Futures, options)? I think if I want to find the best A+++++ signal on weekly charts - I should looking for it not on Forex where I have only 10 major pairs against more than 1300 stocks on NYSE e.g. Want to know where do you work? Maybe you can recommend us some good places for work Thanks
Hey Alehandro

I always tell people to watch as much as they can

I watch over 80 FX pairs daily/weekly/4hr/hrly

And I watch over 3000 stocks using the russell 3000 and watch a handful of futures charts too.

So go for it

Mike
  • #132,605
  • Oct 13, 2014 11:56am Oct 13, 2014 11:56am
!
is that a DBLHC or is it not ? this is the problem ?
then how to trade all this PA is another story !
cheers
Xam

PS: from poster PinBAr
If there are other docum please inform
thanks a lot

___________

.....and sorry to all the experts for so basic query
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  • #132,606
  • Oct 13, 2014 11:59am Oct 13, 2014 11:59am
Quoting Xamarass
! is that a DBLHC or is it not ? this is the problem ? then how to trade all this PA is another story ! cheers Xam PS: from poster PinBAr If there are other docum please inform thanks a lot {image}

Hey X

For a true DBLHC the close must be above the previous bars high. Be careful with the information since this is such a big thread many try to help that may not have things exactly right(but are generously trying to give back what they know or do themselves). The only instructors that participate in this thread are James and myself. Be sure to pay the most attention to those material for official j16 stuff. Their have been a great deal of unofficial james16 thread information just be the sheer size of the thread.

Check out that newbie webinar I posted a few posts back for the true definitions from the most technical standpoint(meaning the original most exact way to identify the bars)

Best
Mike
  • #132,607
  • Oct 13, 2014 12:04pm Oct 13, 2014 12:04pm
Quoting mbqb11
{quote} Hey X For a true DBLHC the close must be above the previous bars high. Be careful with the information since this is such a big thread many try to help that may not have things exactly right. The only instructors that participate in this thread are James and myself. Be sure to pay the most attention to those material for official. Their have been a great deal of unofficial james16 thread information just be the sheer size of the thread. Check out that newbie webinar I posted a few posts back for the true definitions form the most technical...
here is official definition from James for your reference off our site



Best
Mike
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  • #132,608
  • Oct 13, 2014 2:32pm Oct 13, 2014 2:32pm
Quoting mbqb11
{quote} here is official definition from James for your reference off our site Best Mike {image}
thanks now is totaly clear !
DBHLC and DBLHC
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  • #132,609
  • Oct 13, 2014 2:56pm Oct 13, 2014 2:56pm
Quoting Xamarass
{quote} thanks now is totaly clear ! DBHLC and DBLHC {image} {image}
great bud
  • #132,610
  • Oct 13, 2014 2:59pm Oct 13, 2014 2:59pm
Quoting mbqb11
{quote} Hey VS Nope that was part of the trade mgmt from my earlier short from monday where I was already in from 16985 http://www.forexfactory.com/showthre...00#post7785600 Todays trade was a separate one for me Here is a video of it i did for the group http://www.youtube.com/watch?v=dmSNBQ72_IM hope it helps Mike

markets have just been so volatile and amazing. This is what traders live for really

I just missed another knock out trade on the mini dow. Missed my entry by a few points. But such is life.

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few of my current stock shorts getting pulled down with it though

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  • #132,611
  • Oct 13, 2014 6:23pm Oct 13, 2014 6:23pm
Mike,

If one trade U.S. equities and has short positions, can they be carried overnight for the next several days? Or is it that you have to close the short position before the end of the day?

Thanks,

N
  • #132,612
  • Oct 13, 2014 8:21pm Oct 13, 2014 8:21pm
Quoting Neytiri
Mike, If one trade U.S. equities and has short positions, can they be carried overnight for the next several days? Or is it that you have to close the short position before the end of the day? Thanks, N
you can carry them N

Best
Mike
  • #132,613
  • Oct 13, 2014 11:02pm Oct 13, 2014 11:02pm
Well traded Mike.

Did you see the EUR/SEK opportunity which was pretty similar.
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  • #132,614
  • Oct 14, 2014 2:30am Oct 14, 2014 2:30am
Quoting Xamarass
{quote} thanks now is totaly clear ! DBHLC and DBLHC {image} {image}
Hi Mike:

Do you use the DBHLC and DBLHC on intra day charts as well? Or stick to just the daily charts?

thank you,
  • #132,615
  • Oct 14, 2014 7:23am Oct 14, 2014 7:23am
Quoting courier12
{quote} Hi Mike: Do you use the DBHLC and DBLHC on intra day charts as well? Or stick to just the daily charts? thank you,
Hi courier12, mainly on daily, and better weekly
cheers
  • #132,616
  • Oct 14, 2014 8:44am Oct 14, 2014 8:44am
Quoting moretti12
Well traded Mike. Did you see the EUR/SEK opportunity which was pretty similar. {image} {image}
Hey M

I used your green flip zone to both short on a 2day beob and buy on a 3 day buob. Great looking flip that I had been watching for awhile

Both ended up as breakeven for me though

Still a nice area to watch if we push into the descending TL too though

Best
Mike
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  • #132,617
  • Oct 14, 2014 8:45am Oct 14, 2014 8:45am
Quoting courier12
{quote} Hi Mike: Do you use the DBHLC and DBLHC on intra day charts as well? Or stick to just the daily charts? thank you,
Hey C

Yep absolutely

Price action is universal. You can trade tick charts with it as James does. I prefer the 1hr and above as watching under that for me is draining. You can find plenty of opportunities and not have to sit with your finger on your mouse.

But price action is applicable to all timeframes and no timeframe is more reliable then another. Everything is just relative to what you decide to trade on

Of course we recommend to new or struggling traders to stay towards the higher timeframes for many reasons

Hope that helps
Mike
  • #132,618
  • Oct 14, 2014 10:27am Oct 14, 2014 10:27am
Thanks Mike and Xamarass.

Thought you and James primarily traded off of daily. But knowing that this can be applied across tF's is useful!

Tick charts is a no no for me - but 1 hour and above does sound good.
Thank you,
  • #132,619
  • Oct 14, 2014 10:42am Oct 14, 2014 10:42am
Quoting mbqb11
{quote} markets have just been so volatile and amazing. This is what traders live for really I just missed another knock out trade on the mini dow. Missed my entry by a few points. But such is life. {image} few of my current stock shorts getting pulled down with it though {image} {image}
Mike,

Was this your logic behind the ymz4 trade entry?
-price crashes down and closes below the ppz and the trendline
-place a lmt sell order at 38 -50% fib retrace of the bearish bar that closed below the trendline?

Thanks,

N
  • #132,620
  • Oct 14, 2014 10:46am Oct 14, 2014 10:46am
Zamfir,

I know you always take your stop to breakeven once the trade goes in your favor. Do you wait for an arbitrary number of pips to be in profit for doing that? What is your logic? Your thoughts will be very helpful because I am struggling doing that.

Thanks,

N
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