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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

  • #135,201
  • Jun 1, 2015 6:57am Jun 1, 2015 6:57am
Quoting mordin
Guys, what do you think of this daily pivots indi? {image} {image} {image} Seems accurate, but in the end, the price seems to go through it
Use the pivots for confluence.
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Keeping it Simple
  • #135,202
  • Jun 1, 2015 8:27am Jun 1, 2015 8:27am
Quoting Donaciello
{quote} Hey Mordin, I think this is an indicator you can do without, and if you can't, you know you need some practive drawing PPZ's. I've used the same indicator years back (or it looks freaky much like it), but there's nothing like manually drawn analysis. Thing is, you need to have confidence in your story. Do you trust your indi better for drawing PPZ's or yourself. The answer to the above should be yourself, and if not, you have some learning to do. Free yourself from the clutter.
Donaciello, thank you very much for all your help. You're right. I already said it, but in all aspects of my life I lack of confidence and that affects my trading too, I'm always unsure of the PPZs I find.

Wellard you are also right, I have to learn to spot S/R zones. Do you have any tips? I always see like too many PPZs, is like I don't know how to better filter.
Had to be me. Someone else might have gotten it wrong.
  • #135,203
  • Jun 1, 2015 8:28am Jun 1, 2015 8:28am
Quoting habeeb
{quote} Use the pivots for confluence. {image}
habeeb, very nice example. I see that you don't use Sunday data, and also you only draw pivots, not daily S1,S2,S3 etc. I will try that. It is cleaner and confluence is always good!


Thank you very much
Had to be me. Someone else might have gotten it wrong.
  • #135,204
  • Jun 1, 2015 11:22am Jun 1, 2015 11:22am
Hi All,

Price rejected at earlier support, IB is key to enter the Long entry... Will see the result. .

Adhav
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  • #135,205
  • Jun 1, 2015 11:26am Jun 1, 2015 11:26am
Quoting priceaction1
{quote} http://www.forexfactory.com/attachme...1&d=1430579664 TOTAL TRADES 291 PROFIT TRADES 266 LOSS TRADES 25 PROFIT FACTOR 31.21 MAXIMAL DRAWDOWN 3.71% TOTAL PROFIT 11127821.21 I did not claim that I am as good as james16 even not 1% of his success but in Forex any thing can be possible.
You are the BEST.
  • #135,206
  • Jun 1, 2015 1:29pm Jun 1, 2015 1:29pm
If we have a clear close below the trend line and the big pin on 4h chart, we could continue to 1080.
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  • #135,207
  • Jun 1, 2015 1:49pm Jun 1, 2015 1:49pm
GBPJPY +75 pips. TP3 BE.
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Not doing very well on GBPCAD
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Had to be me. Someone else might have gotten it wrong.
  • #135,208
  • Jun 1, 2015 2:05pm Jun 1, 2015 2:05pm
Quoting mordin
{quote} Donaciello, thank you very much for all your help. You're right. I already said it, but in all aspects of my life I lack of confidence and that affects my trading too, I'm always unsure of the PPZs I find. Wellard you are also right, I have to learn to spot S/R zones. Do you have any tips? I always see like too many PPZs, is like I don't know how to better filter.
You're very welcome!
As for the PPZ's, but the same goes for all of the other stuff here, really; Start with the easy ones.
The really obvious PPZ's multiple touches to both sides, multiple times being respected, etc.
It may be an idea to start drawing PPZ's, and try to find out if they happen to have confluence with some of the other elements later (RN's, fibs, TL's)

Staying with the basics and the no-brainers is the way to go in the beginning I think.
You need to develop a keen eye for what the really strong setup's look like first.
Get familiar with the various ways of managing (the basic) trades and if after that you want to play the setup's that go a bit deeper into the J16 material (divergence, wick-plays, touch-trades, etc.) at least you got the basics down.

PPZ's form a major part of the J16 material and learning to spot them with your own analysis is crucial.

Lastly, getting the hang of manual analysis (no indi's) takes time, but you need to allow yourself that time.
I've been doing Demo-trading for some years now, with mixed results.
Growing confident of your own analysis/story has taken way longer that I ever thought it would, but slowly I feel I'm getting there.

Keep throwing up charts and I'll share with you my view on it.
Keep in mind tho, I'm no pro, so keep a eye out for the charts of the seasoned members here, they can tell you a 1000 words all by themselves.

Good luck,
Donaciello
It's a sport, an artform and a science.
  • #135,209
  • Jun 1, 2015 2:18pm Jun 1, 2015 2:18pm
Quoting mordin
GBPJPY +75 pips. TP3 BE. {image} Not doing very well on GBPCAD {image}
If you don't mind my critique:

GBPJPY: this PB is very small relative to the previous (BEOB off rising TL) bar, watch out with these.
The wick of the pin also doesn't point away from the recent action very much.
I see the wick of a few bars back has about the same low as the PB, this leads me to believe that the PB wasn't very strong.
Good to see you take profit close, instead of holding on for a runner or something, well done!

GBPCAD: Virtually the same story here, where a BUOB without much follow-up, a few bars back, serviced the exact area your PB is sticking out of.
The PB-wick is therefore not really being 'protected' by a strong location, which is definately something that you want to look for.

PB's show up all the time. Our game is to see further, that's where building a story comes in.
Recent bar's that've cleared the orderflow in the location where a PB later find it's wick, are I think, a red flag.
The wick of that PB may have been like 'the path of least resistance' because the orderflow was already services recently, and that doesn't bode well for the PB's overall strength.

Hope that helps
It's a sport, an artform and a science.
  • #135,210
  • Jun 1, 2015 3:09pm Jun 1, 2015 3:09pm
Quoting CaptainClaw
If we have a clear close below the trend line and the big pin on 4h chart, we could continue to 1080. {image} {image}
you need a trend to draw a correct trendline. there is no trend here.
your pinbar is in a sideways market.
gold can cantinue to 1080, but not because of your analysis.
hth
meine augen sind die sterne
  • #135,211
  • Jun 1, 2015 3:12pm Jun 1, 2015 3:12pm
Quoting Donaciello
{quote} You're very welcome! As for the PPZ's, but the same goes for all of the other stuff here, really; Start with the easy ones. The really obvious PPZ's multiple touches to both sides, multiple times being respected, etc. It may be an idea to start drawing PPZ's, and try to find out if they happen to have confluence with some of the other elements later (RN's, fibs, TL's) Staying with the basics and the no-brainers is the way to go in the beginning I think. You need to develop a keen eye for what the really strong setup's look like first. Get...
Thank you very much again. Yes, I have to detox from indis! I think that the major ones are easier, more visible, the ones I'm having troubles are the minor. Definitely I will keep practising, and see if I can spot PPZs better. Will keep posting charts



Quoting Donaciello
{quote} If you don't mind my critique: GBPJPY: this PB is very small relative to the previous (BEOB off rising TL) bar, watch out with these. The wick of the pin also doesn't point away from the recent action very much. I see the wick of a few bars back has about the same low as the PB, this leads me to believe that the PB wasn't very strong. Good to see you take profit close, instead of holding on for a runner or something, well done! GBPCAD: Virtually the same story here, where a BUOB without much follow-up, a few bars back, serviced the exact...
I don't mind any critique! It is very welcome.

GBPJPY: I noticed it was small, but it drives me nuts when I see a small pinbar starting a good move, so I checked if there the wick touched any support, and I saw that it did touch a recent minor S/R, so I took it.

GBPCAD: I saw that it was like... cluttered recent PA, but I thought it was good because the wick is at least twice the body (more or less), it rejected the BRN 1.900 and also rejected the TL. Didn't take into account that just above were the weekly and daily pivots... but again, on the GBPJPY chart, just above the pinbar I took was de weekly pivot and it passed it. Perhaps GBPCAD can't because there is the confluence of the two pivots.

Thanks again!
Had to be me. Someone else might have gotten it wrong.
  • #135,212
  • Jun 1, 2015 4:06pm Jun 1, 2015 4:06pm
Quoting mordin
GBPJPY +75 pips. TP3 BE. {image} Not doing very well on GBPCAD {image}
When drawing trendlines, there should be more than just 2 points touching the line or you'll have trendlines everywhere :-)
Notice the one I drew compared to your trendline. According to mine, you might have even shorted on the test of the trendline from the bottom. Easy to say hind-sight I know & I don't take them that way on an angled line but more importantly is the # of touches.
Just my opinion, could be completely wrong.
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  • #135,213
  • Jun 1, 2015 4:16pm Jun 1, 2015 4:16pm
Quoting srt
{quote} When drawing trendlines, there should be more than just 2 points touching the line or you'll have trendlines everywhere :-) Notice the one I drew compared to your trendline. According to mine, you might have even shorted on the test of the trendline from the bottom. Easy to say hind-sight I know & I don't take them that way on an angled line but more importantly is the # of touches. Just my opinion, could be completely wrong. {image}
THIS Srt,

Great add-on!

Offtopic bonus chart: SL misses (so far) at 0.3 pips on 35p spread.

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It's a sport, an artform and a science.
  • #135,214
  • Edited 9:15pm Jun 1, 2015 6:28pm | Edited 9:15pm
Quoting mordin
{quote} Guitarbloke, thanks for your chart. I don't fully understand your entry, could you explain? I don't see a reason to go long, but neither to go short, and it seems that it is going south. I've seen today many BUOB on EUR/*** and GBP/*** H4 pairs, but were sitting right above a support, and didn't want to take them. But I'm not sure, because just some candles before, there were BUOBs above support, and they went down through it. Maybe is fear? Guitarbloke, are you still considering to join the private group? I'm considering it too, I want...
Hey Mordin. How are ya? AUD/NZD D1 (chart below) entry is on BEOVB 7 bars back, plus another bearish outside bar 9 bars back, at swing high rejecting 1.8000 BRN. The set-ups should ideally stick out and away from surrounding price action like a sore thumb, but I concluded there was enough confluence and bearish PA to take the trade. Hope that makes a little sense. Yes, I'm considering joining the private forum. I like the idea of weekly video instruction as I learn best through the visual and seeing someone do it. Another thing I like is you aren't locked in to a monthly payment. Even if I join for a couple of months I'm sure to get great benefit. Best wishes and good trading, G.

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'Fail to plan, plan to fail'
  • #135,215
  • Jun 2, 2015 1:40am Jun 2, 2015 1:40am
Quoting srt
{quote} When drawing trendlines, there should be more than just 2 points touching the line or you'll have trendlines everywhere :-) Notice the one I drew compared to your trendline. According to mine, you might have even shorted on the test of the trendline from the bottom. Easy to say hind-sight I know & I don't take them that way on an angled line but more importantly is the # of touches. Just my opinion, could be completely wrong. {image}

Thanks for your input srt, I understand what you say, makes total sense! I see the entry you've stated, beautiful!


Quoting Guitarbloke
{quote} Hey Mordin. How are ya? AUD/NZD D1 (chart below) entry is on BEOVB 7 bars back, plus another bearish outside bar 9 bars back, at swing high rejecting 1.8000 BRN. The set-ups should ideally stick out and away from surrounding price action like a sore thumb, but I concluded there was enough confluence and bearish PA to take the trade. Hope that makes a little sense. Yes, I'm considering joining the private forum. I like the idea of weekly video instruction as I learn best through the visual and seeing someone do it. Another thing I like is...
Guitarbloke, thanks for you explanation!
Had to be me. Someone else might have gotten it wrong.
  • #135,216
  • Jun 2, 2015 2:22am Jun 2, 2015 2:22am
Why this pinbar failed?

I thought it was a good PPZ. Seems the good one could be just above. I took it and ended with a loss

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Thanks!
Had to be me. Someone else might have gotten it wrong.
  • #135,217
  • Jun 2, 2015 5:32am Jun 2, 2015 5:32am
Quoting Adhavan
Hi All, Price rejected at earlier support, IB is key to enter the Long entry... Will see the result. . Adhav {image}
Closed with small profit
  • #135,218
  • Jun 2, 2015 5:38am Jun 2, 2015 5:38am
Quoting mordin
Why this pinbar failed? I thought it was a good PPZ. Seems the good one could be just above. I took it and ended with a loss {image} Thanks!
It didn't fail. It just didn't have more space to the bottom. You were trading into support - 136.00 area.
Keeping it Simple
  • #135,219
  • Jun 2, 2015 6:03am Jun 2, 2015 6:03am
Quoting mordin
Why this pinbar failed? I thought it was a good PPZ. Seems the good one could be just above. I took it and ended with a loss {image} Thanks!
Hi Mordin,

I am also newbie and I want share my thought about ej pair. .

The bar look like valid one, but it not formed the right place. . It is right above the BRN 136 and below to resistance Line. Here I share my view. ..
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  • #135,220
  • Jun 2, 2015 7:08am Jun 2, 2015 7:08am
Thanks to aserbfx, Donaciello & Guitarbloke your comments are very helpful.

First trade this week. Entered EUR-JPY long after new monthly highs and Euro demand.
USD-CAD: This time, did not enter after this pin, since I wanted to see a break of 1.2400 first.
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