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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

  • #132,961
  • Nov 12, 2014 12:38pm Nov 12, 2014 12:38pm
Quoting Dovilo
{quote} Well actually everybody knows that.
Don`t be so arrogant!
Have a nice day
  • #132,962
  • Nov 12, 2014 12:43pm Nov 12, 2014 12:43pm
Quoting Poinson
{quote} Hi Zamfir, is there any newbie info on this thread about the inside bars trading? I just thought that for PA there should be an outside bar which is a sugnal for for strong bulls/bears... Thank you!
I guess it should be available in this thread. Check the beginning post by James.

For reversal signal pinbars / inside bars / outside bars will do, provided they appear in correct context.
  • #132,963
  • Nov 12, 2014 12:54pm Nov 12, 2014 12:54pm
Quoting Winston Reed
Closed it. Super trade. Tonight I'm celebrating with double single malt scotch whisky. Thanks J16!!! {image}
Have a nice day
  • #132,964
  • Nov 12, 2014 1:18pm Nov 12, 2014 1:18pm
Quoting Winston Reed
{image}
Hello! I just want to ask. great deal. but you not be afraid buying (as for me) far from level without pullback?
  • #132,965
  • Edited 2:02pm Nov 12, 2014 1:52pm | Edited 2:02pm
Hello Mike,

Quote
we can see price closing now as a buob over the major PPZ and box area now

I got a very good learning while playing AUDUSD daily bar on tomorrow from your post, i need little more correct myself when play the same situation in future.

I came to conclusion that it was very good short opportunity in AUDUSD as mentioned in chart, can u guide me where I am failed to understand the chart in right way.

expect your advice.

Adhav


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  • #132,966
  • Nov 12, 2014 1:52pm Nov 12, 2014 1:52pm
Quoting respectosik
{quote} Hello! I just want to ask. great deal. but you not be afraid buying (as for me) far from level without pullback?
I guess it gives one some pause but the more I trade J16 the less afraid I am of these large momentum candles if certain criteria exist. The trade has clearly defined boundaries and if the boundaries are violated then I just move on. In this case price should move higher. If it moves below the PPZ then the viability of the trade is in serious question.
  • #132,967
  • Nov 12, 2014 2:25pm Nov 12, 2014 2:25pm
Hey guys, is anyone looking at the GBPUSD? To me, this looks almost like a perfect DBHLC with little traffic to the left

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  • #132,968
  • Nov 12, 2014 3:18pm Nov 12, 2014 3:18pm
Quoting jr241
Hey guys, is anyone looking at the GBPUSD? To me, this looks almost like a perfect DBHLC with little traffic to the left {image}
DBHLC, BEOEB are best taken at swing highs where you are selling new high or fairly new highs. DBLHC and BUOEB are best taken at swing lows where you are buying at new lows or fairly new low. So in this case you would be selling at a new low. If this DBHLC was a break out of a well defined pattern like a rectangle with a a few accurate hits at the bottom of the rectangle then this might be a good trade. In this case we are just breaking down below ONE previous low.

The old adage "buy low and sell high" applies here.
  • #132,969
  • Nov 12, 2014 4:33pm Nov 12, 2014 4:33pm
Thanks Winston
  • #132,970
  • Nov 13, 2014 2:35am Nov 13, 2014 2:35am
closed it

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  • #132,971
  • Nov 13, 2014 9:05am Nov 13, 2014 9:05am
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  • #132,972
  • Nov 13, 2014 10:57am Nov 13, 2014 10:57am
Quoting Winston Reed
{image}
nice, its looking good. wheres your tp for this? ive been trying to get better with exits and it seems .847ish would be a good one, but .845ish and .84 also look great but are a lot riskier. is .84 not worth the risk?

also what PA did you wait for?

thanks for posting
  • #132,973
  • Nov 13, 2014 11:05am Nov 13, 2014 11:05am
Quoting Winston Reed
{quote} DBHLC, BEOEB are best taken at swing highs where you are selling new high or fairly new highs. DBLHC and BUOEB are best taken at swing lows where you are buying at new lows or fairly new low. So in this case you would be selling at a new low. If this DBHLC was a break out of a well defined pattern like a rectangle with a a few accurate hits at the bottom of the rectangle then this might be a good trade. In this case we are just breaking down below ONE previous low. The old adage "buy low and sell high" applies here.
In my humble opinion, based on J16 teachings, this can be regarded as a continuation DBHLC, since it goes with the trend. The trend on GBPUSD is strong, so I entered at the break of the low, targeting 5450 level.
Market can stay irrational longer than you can stay solvent.
  • #132,974
  • Nov 13, 2014 11:36am Nov 13, 2014 11:36am
Quoting FXBat
{quote} In my humble opinion, based on J16 teachings, this can be regarded as a continuation DBHLC, since it goes with the trend. The trend on GBPUSD is strong, so I entered at the break of the low, targeting 5450 level.
Hey FX Bat. Yes it is a continuation but playing continuation PA at swing low is tough unless it is a breakout of consolidation. Mike talks about these frequently and advises to take PA like pinbars and engulfings at swing lows and swing highs against the trend rather than with the trend. Maybe Mike can comment on this one.
  • #132,975
  • Nov 13, 2014 11:53am Nov 13, 2014 11:53am
Quoting Winston Reed
{quote} Hey FX Bat. Yes it is a continuation but playing continuation PA at swing low is tough unless it is a breakout of consolidation. Mike talks about these frequently and advises to take PA like pinbars and engulfings at swing lows and swing highs against the trend rather than with the trend. Maybe Mike can comment on this one.
thanks for the feedback, Winston. I know what Mike says, I've seen all his free videos its just that my impression is that it might be easier to trade with the trend, then against it....
Market can stay irrational longer than you can stay solvent.
  • #132,976
  • Nov 13, 2014 12:58pm Nov 13, 2014 12:58pm
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  • #132,977
  • Nov 13, 2014 5:19pm Nov 13, 2014 5:19pm
gbpusd at ppz and 61.8fib, waiting to see a pinbar for the long
  • #132,978
  • Nov 13, 2014 8:58pm Nov 13, 2014 8:58pm


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  • #132,979
  • Nov 14, 2014 10:49am Nov 14, 2014 10:49am
whats up james16 , is this correct

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  • #132,980
  • Nov 14, 2014 10:59am Nov 14, 2014 10:59am
Quoting philemon123
Hi mike,I have been looking at your charts trying to figure out how you draw those boxes on charts,i think you look at ppz.could you please explain to me how you draw them.thanks in advance. {image}
Hey Phil

I use a program called snag it to draw on my charts. It's a life saver

Best
Mike
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