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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

  • #133,721
  • Feb 3, 2015 8:40am Feb 3, 2015 8:40am
Quoting xpie
{quote} Now I see what you mean, makes totally sense. Do you follow the rule to set the SL to the las ppz ? I think to really benefit from this method it is important to have a tight SL but sometimes you just dont find a good ppz nearby. xpie
Yes Jaroo's idea about SL is above/below PBT bar or some close PPZ, big number itc...But sometimes even that is to close, trade always needs some room to develope. I try keep close to 50 pips SL but ofcourse depends on pair were trading. Small SL imo is good in this case if u have patience to let trades ''GO''
and big winners can cover your small loses.
Trade below eventually did go as planed but as u can see 50 pips just wasnt enough room for trade to develope.
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  • #133,722
  • Feb 3, 2015 8:48am Feb 3, 2015 8:48am
Quoting xpie
Missed the trade by a few pips {image}
Auch...nice try, would have been netted you 400+ pips by now

Keep in mind spread when setting limit orders. Just put it few pips higher when going Long
  • #133,723
  • Feb 3, 2015 10:02am Feb 3, 2015 10:02am
Quoting Goldberg
{quote} Thanks Mike When will the new site be launched? Will the old PF be taken down? What are you guys looking at for membership costs? Is all the original information still on the pf? likes James trading methods? What happened to James? Is Fijitrader around? Sorry for all the questions I'm just curious before I make a commitment. Feel free to pm me Thanks ID
Hey G

No problem ask whatever you like

The new PF is looking at a spring launch but no the old PF will not be taken down. Some things will be moved or archived(if they aren't active) but no information will go missing. The new site is just going to stream line the learning process through tutorials but also through active ongoing information from instructors in a more fluid and easier to find manner. James go burnt out a few years back it's a lot to do day in and out and he had a lot going on with his real estate so i took over for the last couple years. The new site he'll be fully back and he's very excited about that. Fiji is no longer with us

Feel free to email me anytime too [email protected]

Best
Mike
  • #133,724
  • Feb 3, 2015 10:03am Feb 3, 2015 10:03am
Quoting Berserker
{quote} Thanks Mike, really good to hear your take on this aspect of trading - The long game isn't discussed very often on forums!
yes surprisingly enough right. Who want's to go into a business and not think about how to maintain that business for many years to come. Trading is no different. If you aren't planning for the future you will probably become a statistic

Good to see you around B

Mike
  • #133,725
  • Feb 3, 2015 11:57am Feb 3, 2015 11:57am
Mike,

First I just want to thank you and James for all that you've taught me. I got into trading (and the market in general) just 4 months ago. Prior to that I had zero knowledge.

I feel extremely lucky that I just happened to bump into this thread early on in my endeavors. The turning point for me was when I opened up my trading opportunities with Futures and Equities, instead of just Forex. Now there's enough to look through to be picky!

I have one question. Would you mind sharing your strategy how choosing which Equities to follow? Do you use the scan feature and what are you looking for? Thanks again!
  • #133,726
  • Feb 3, 2015 2:34pm Feb 3, 2015 2:34pm
Quoting mbqb11
{quote} Hey G No problem ask whatever you like The new PF is looking at a spring launch but no the old PF will not be taken down. Some things will be moved or archived(if they aren't active) but no information will go missing. The new site is just going to stream line the learning process through tutorials but also through active ongoing information from instructors in a more fluid and easier to find manner. James go burnt out a few years back it's a lot to do day in and out and he had a lot going on with his real estate so i took over for the last...
Thank You!
“Life breaks free. Life expands to new territories.
  • #133,727
  • Feb 3, 2015 2:39pm Feb 3, 2015 2:39pm
Hi All,
below a nice view an almost pinbar close to a support.
With a pending order (buy stop) I would like to go for a long. SL and TP in the chart.
Thanks for comments
Xam
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  • #133,728
  • Feb 3, 2015 4:09pm Feb 3, 2015 4:09pm
somebody on this one ?
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  • #133,729
  • Feb 3, 2015 4:29pm Feb 3, 2015 4:29pm
Quoting moneysmylife
Mike, First I just want to thank you and James for all that you've taught me. I got into trading (and the market in general) just 4 months ago. Prior to that I had zero knowledge. I feel extremely lucky that I just happened to bump into this thread early on in my endeavors. The turning point for me was when I opened up my trading opportunities with Futures and Equities, instead of just Forex. Now there's enough to look through to be picky! I have one question. Would you mind sharing your strategy how choosing which Equities to follow? Do you use...

Hey Money

welcome to the thread and thanks for the nice comments. 4 months is super early to find this , so kudos to you.

I love that you have decided to expand the markets you watch that's a great thing. I use the russell 3000 to scan. I generally manually go through them once a week and once a month. Luckily one of our PF members puts out a consolidated list of outside bars, pinbars, dbhlc/dblhc from the russell 3000. This helps trim down from 3000 to maybe a few hundred or so which is great if I can't manually go through them. It's not really a scanner per say because most are of course no trades but it helps the process.

Again welcome to the thread !
Mike
  • #133,730
  • Feb 3, 2015 4:35pm Feb 3, 2015 4:35pm
Quoting mbqb11
{quote} Hey Money welcome to the thread and thanks for the nice comments. 4 months is super early to find this , so kudos to you. I love that you have decided to expand the markets you watch that's a great thing. I use the russell 3000 to scan. I generally manually go through them once a week and once a month. Luckily one of our PF members puts out a consolidated list of outside bars, pinbars, dbhlc/dblhc from the russell 3000. This helps trim down from 3000 to maybe a few hundred or so which is great if I can't manually go through them. It's not...
Brilliant, thanks! Soon as I find consistent success, I'm sending you and James a bottle of something good!
  • #133,731
  • Feb 3, 2015 9:30pm Feb 3, 2015 9:30pm
Good evening,

Is this a pin on the aud/jpy daily?
Thoughts if it is?
Thanks
Attached Image
“Life breaks free. Life expands to new territories.
  • #133,732
  • Feb 4, 2015 4:23am Feb 4, 2015 4:23am
"Is this a pin on the aud/jpy daily?"Hi Goldberg,I consider it a pin,but I'm a newby,small buy stop but don't usually touch the yen.Al
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  • #133,733
  • Feb 4, 2015 5:27am Feb 4, 2015 5:27am
Quoting Xamarass
Hi All, below a nice view an almost pinbar close to a support. With a pending order (buy stop) I would like to go for a long. SL and TP in the chart. Thanks for comments Xam {image}
I put in a limit buy on this one and has been triggered - bit nervous about this one as the AUD was acting crazy yesterday. So, I'm already at BE - only want to stay in this one if it goes - can't be done with it messing me around for a few days before plunging!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #133,734
  • Feb 4, 2015 7:07am Feb 4, 2015 7:07am
Quoting mallee
"Is this a pin on the aud/jpy daily?"Hi Goldberg,I consider it a pin,but I'm a newby,small buy stop but don't usually touch the yen.Al {image}
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Hi,

I am also newbie, but i want to share my view about AJ pinbar..

The Bar has long wick as it like unexpected thing happen in market. So price came to its original level as soon. Price didn't form a decent eye formation and more ever price couldn't cross the FTA ( Previous low) .. I hope price down further and we expect some decision @ BRN 90.00 as it is PPZ zone too..

Adhav.
  • #133,735
  • Feb 4, 2015 7:21am Feb 4, 2015 7:21am
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Any comment about EU Pin bar..
  • #133,736
  • Feb 4, 2015 8:43am Feb 4, 2015 8:43am
hey guys

just some comments on the aud/jpy bar

it's a funky looking pinbar for me. Notice how the bar sits HIGH up on the previous bar. We really want that pinbar to be moved down towards the low of the previous bar otherwise it gives us a funk bar like this. Notice we area also right under a previous major swing low where price recently flipped. If a bar like this doesn't BLAST off you can get caught just how price is turning around giving you a large drawdown. I'd really only want to be a buyer on a retrace if I absolutely had to around 90.70 You really would have wanted this pinbar to sit much lower or a BUOB to form closing above that PPZ

Just wanted to share why I avoided this one

Best
Mike
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  • #133,737
  • Feb 4, 2015 8:56am Feb 4, 2015 8:56am
My favorite entry based on yesterdays bars was gbp/usd. I believe it offers the lowest risk potential with the breakout

here is my private forum chart
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  • #133,738
  • Feb 4, 2015 1:00pm Feb 4, 2015 1:00pm
Quoting mbqb11
hey guys just some comments on the aud/jpy bar it's a funky looking pinbar for me. Notice how the bar sits HIGH up on the previous bar. We really want that pinbar to be moved down towards the low of the previous bar otherwise it gives us a funk bar like this. Notice we area also right under a previous major swing low where price recently flipped. If a bar like this doesn't BLAST off you can get caught just how price is turning around giving you a large drawdown. I'd really only want to be a buyer on a retrace if I absolutely had to around 90.70...
Thanks Mike and everyone else for their prompt replies
Is this correct what I've drawn out as an example
I know it looks like chicken scratch

thanks

ID
Attached Image
“Life breaks free. Life expands to new territories.
  • #133,739
  • Feb 4, 2015 2:14pm Feb 4, 2015 2:14pm
Quoting Goldberg
{quote} Thanks Mike and everyone else for their prompt replies Is this correct what I've drawn out as an example I know it looks like chicken scratch thanks ID {image}
yes exactly goldberg, it's going to make managing these much easier.
  • #133,740
  • Feb 4, 2015 3:27pm Feb 4, 2015 3:27pm
Quoting Kershey
somebody on this one ? {image}
a nice pin bar...love to see them.
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