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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

  • #135,421
  • Jun 21, 2015 1:10pm Jun 21, 2015 1:10pm
Quoting zamfir
{quote} Its not complicated but try to follow...Many people have asked me this so i will make this post with some explanations. I cannot just give some examples without giving the thought process behind it. So here is my take on taking TT. Note if this could end up in a big wall of text. Sorry cannot give a tldr on this subject . lol Firstly , we need to understand that markets are always in two conditions. Either trending or consolidating. There cannot be another condition apart from these two. So when people say market conditions are always changing...
Great post Zamfir! Thanks for help!
  • #135,422
  • Jun 21, 2015 10:37pm Jun 21, 2015 10:37pm
Would appreciate some critique on the quality of this pinbar and why it is good or bad. THank you.
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  • #135,423
  • Jun 22, 2015 1:28am Jun 22, 2015 1:28am
Quoting zamfir
{quote} ...you can also wait for a bar confirmation at these levels and then take a entry. {image} Hope this helps answer the question.
Hello zamfir,

very thanks for this post. It clears some aspects for me. I got one question:

When you are posting your charts, they are always in big zoom - I mean, there is always something about 50-60 candles to history; no matter of timeframe. Do you use this zoom when you are scaning your charts and looking for set-ups too? Or do you use bigger picture and more candles?

Thanks
  • #135,424
  • Jun 22, 2015 1:45am Jun 22, 2015 1:45am
Quoting oxygn
Would appreciate some critique on the quality of this pinbar and why it is good or bad. THank you. {image}
Oxygn, a pinbar's quality is made both of size and location. In your case the location was not good due to the fact that it was sitting on a trouble area while should it break it ought to have gone to the round number 1.1300. And price did as it should.
I hope this helps.

Al.
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  • #135,425
  • Jun 22, 2015 1:54am Jun 22, 2015 1:54am
Quoting wellard
{quote} Hello zamfir, very thanks for this post. It clears some aspects for me. I got one question: When you are posting your charts, they are always in big zoom - I mean, there is always something about 50-60 candles to history; no matter of timeframe. Do you use this zoom when you are scaning your charts and looking for set-ups too? Or do you use bigger picture and more candles? Thanks
I use zoom to show the clarity of the charts. I don't have any specific preference. Any zoom that makes the chart clear is what i look for.

About looking for setups , see and pay close attention to what is happening now rather than what has already happened.
  • #135,426
  • Edited 3:15am Jun 22, 2015 2:47am | Edited 3:15am
EUR/USD M30. BEOVB rejecting and closed below 1.14000 BRN. Took this one using M30 TF as an entry. I don't like to trade the smaller time frames because they are too noisy and less reliable if there is such a word in forex, so this is no recommendation to trade lower TF's. I just found my entry there. 1st target hit. BE. Expecting some stalling around 1.13000 area as there is plenty of traffic around there.

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GBP/USD H1 DBHLC rejecting and closed below BRN 1.59000. 1st target hit. BE.

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'Fail to plan, plan to fail'
  • #135,427
  • Jun 22, 2015 7:50am Jun 22, 2015 7:50am
Hi zamfir,

Your setups wchich you attachment to this thread there are A+ setups?
I am a newbie and i'm wondering that i can go in these setups or i should look for and wait for better, "more confident" setups?
  • #135,428
  • Jun 22, 2015 8:08am Jun 22, 2015 8:08am
Quoting fxstart
Hi zamfir, Your setups wchich you attachment to this thread there are A+ setups? I am a newbie and i'm wondering that i can go in these setups or i should look for and wait for better, "more confident" setups?
Its really hard to say if any setup is A+ before the move.

Anyone can point to good move after it has happened and say that was a A+ setup. But yes minimum requirements for any setup are the usual PPZs/TLs/Fibs/BRNs..etc

What i suggest is you trade on higher TF like daily or even weekly and if you are confident enough on 4h.
  • #135,429
  • Jun 22, 2015 9:43am Jun 22, 2015 9:43am
wedge pattern i am beginning to watch on usd/jpy

look for confirmation of the descending TL, or PA around the bottom TL to confirm exhaustion(divergence)
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  • #135,430
  • Jun 22, 2015 10:12am Jun 22, 2015 10:12am
another one on my list this week

simple box just watch the tops and bottoms
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  • #135,431
  • Jun 22, 2015 10:18am Jun 22, 2015 10:18am
Intraday Euro trades. Both BE now.

Already in trade Mike. Going to the top of the box.

EUR/JPY

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EUR/USD

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  • #135,432
  • Jun 22, 2015 12:44pm Jun 22, 2015 12:44pm
Quoting albus999
{quote} Oxygn, a pinbar's quality is made both of size and location. In your case the location was not good due to the fact that it was sitting on a trouble area while should it break it ought to have gone to the round number 1.1300. And price did as it should. I hope this helps. Al. {image}
Hi Albus999. Thanks for your reply. So am I right to say that for a better trade entry, I should place my sell order below 1.130? And could you explain why it was a trouble area? as it seems to be near a resistance area, which is a confluence. thanks alot.
  • #135,433
  • Jun 22, 2015 12:56pm Jun 22, 2015 12:56pm
Quoting oxygn
{quote} Hi Albus999. Thanks for your reply. So am I right to say that for a better trade entry, I should place my sell order below 1.130? And could you explain why it was a trouble area? as it seems to be near a resistance area, which is a confluence. thanks alot.
Oxy - judging by your questions you are new to trading. You would learn an awful lot, and see the answers to your basic questions, if you started from the first post on this forum.
every Saint has a past. Every Sinner has a Future
  • #135,434
  • Jun 22, 2015 1:58pm Jun 22, 2015 1:58pm
Today i m going to share a very simple PA strategy. Those who want to make an average of 300-400p/month on one pair. This is for you. But hehe there is always a but, you need the discipline to take the entries and exits and do it month after month. This is where most of you will fail.

Strategy is as follows

1. Take every Inside bar/Pin bar/Outside Bar regardless of where they appear on the 4hr. Make sure the bar confirmation are picture perfect.
2. Enter on the break of the bar and exit on 1:1 R/R. So if the bar is 80 pips, exit with 80 pips.

That's it.

For those who want a really simple strategy to make consistent pips.

and for the non-believers here is a sample of last 3 months on the Dragon.

Someone can do it for any entire year on any pair of their choice and post the results here.

GBP/JPY - March : 375 pips

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GBP/JPY - April : 300 pips

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GBP/JPY - May : 400 pips

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Anyone ready to take up on this challenge?
  • #135,435
  • Jun 22, 2015 3:14pm Jun 22, 2015 3:14pm
You did not take all inside bars that formed on your charts. Are those the buts?



Quoting zamfir
Today i m going to share a very simple PA strategy. Those who want to make an average of 300-400p/month on one pair. This is for you. But hehe there is always a but, you need the discipline to take the entries and exits and do it month after month. This is where most of you will fail. Strategy is as follows 1. Take every Inside bar/Pin bar/Outside Bar regardless of where they appear on the 4hr. Make sure the bar confirmation are picture perfect. 2. Enter on the break of the bar and exit on 1:1 R/R. So if the bar is 80 pips, exit with 80 pips. That's...
  • #135,436
  • Jun 22, 2015 3:20pm Jun 22, 2015 3:20pm
Quoting mbqb11
{quote} Hey Incognito I get this question a LOT. Especially since we recommend new traders demo on daily/weekly when starting out. They might think that means we believe daily/weekly is more reliable. That's actually not the case. For me all timeframes are as reliable as another timeframe. It's more the nuances that begin to creep in as you move to the lower tiemframes. The biggest one is time to analyze correctly and execute ones trade. As you begin to go lower you have to decipher all the information that much quicker and in turn make the right...
Hi Mike, thanks for the reply. Yes I suppose you're right. I'm still in virgin territory as far as trading off different time frames is concerned, and I feel a lot more confident in trading off the daily charts. I've started paper trading the 4 hour charts to learn though, and I've made a good few trades lately.

Thanks.
  • #135,437
  • Jun 22, 2015 3:54pm Jun 22, 2015 3:54pm
Quoting zamfir
Today i m going to share a very simple PA strategy. Those who want to make an average of 300-400p/month on one pair. This is for you. But hehe there is always a but, you need the discipline to take the entries and exits and do it month after month. This is where most of you will fail. Strategy is as follows 1. Take every Inside bar/Pin bar/Outside Bar regardless of where they appear on the 4hr. Make sure the bar confirmation are picture perfect. 2. Enter on the break of the bar and exit on 1:1 R/R. So if the bar is 80 pips, exit with 80 pips. That's...
Hi Zamfir, nice work!

I have different accounts for different strategies. My main account I call "Trading Account" from which I swing trade. Then I have a "Scalping Account" for... yeah pretty obvious. And lastly a "Mad Money Account" which I use as my personal casino. I'm contemplating opening a 4th, a "Zamfir Challenge Account" Just hope I can keep up with all of this and don't get grey before I hit my 30's.
  • #135,438
  • Jun 22, 2015 4:10pm Jun 22, 2015 4:10pm
Quoting incognito517
{quote} Hi Mike, thanks for the reply. Yes I suppose you're right. I'm still in virgin territory as far as trading off different time frames is concerned, and I feel a lot more confident in trading off the daily charts. I've started paper trading the 4 hour charts to learn though, and I've made a good few trades lately. Thanks.
That's fantastic and exactly what EVERYONE should do incognito

Trading is really what works best for the individual at the end of the day. No two traders are really ever exactly alike. Even here at j16 you will find my style different from james etc. But we use the same core concepts in exploiting the market

Keep it up
Mike
  • #135,439
  • Edited 9:10pm Jun 22, 2015 8:40pm | Edited 9:10pm
Zamfir, you are generous sharing that strategy. Will check it out. 300 pips per month is nothing to sneeze at. I'm up for the challenge! Thanks friend. Great to see you dropping in as usual Mike. Your posts and presence are always super appreciated. 10 years on and this thread looks as strong and healthy as ever. The vibe here is friendlier/more constructive and positive than many paid trading forums I've been on/am a part of, and it's bloody free. The vibe and people here demonstrate a sense of hope that trading can be profitable. A diamond in the rough. Newbies, go to page 1 post 1. There you will find the gold.

EUR/NZD H1. PB reversal rejecting previous weekly high of 28/9/14 and fib level. Cons: strong uptrend that has closed above previous weekly high and 100. fib level. Trading into some traffic/ TA's. Pros: price reversed at this zone last time it was here, and bearish PB has formed sticking away from PA. Anyway, 1st target taken. BE. See how she goes.

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'Fail to plan, plan to fail'
  • #135,440
  • Jun 22, 2015 9:58pm Jun 22, 2015 9:58pm
Quoting turnip15
{quote} Oxy - judging by your questions you are new to trading. You would learn an awful lot, and see the answers to your basic questions, if you started from the first post on this forum.
Thanks for the advice turnip. I have started and slowly making my way thru this valuable thread. Waiting for the relaunch of the new pf to accelerate my learning.
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