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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

  • #135,741
  • Jul 7, 2015 3:40pm Jul 7, 2015 3:40pm
Quoting incognito517
{quote} Interesting GB. Hell I learned something new today Awesome.
Inco, take a look at this post & few next, that were posted by Zamfir a few weeks ago. There are PDA with PA setups & guidelines for them.
http://www.forexfactory.com/showthre...99#post8340899
I printed out it & put in front of me, when open charts.
  • #135,742
  • Jul 7, 2015 4:03pm Jul 7, 2015 4:03pm
Quoting incognito517
{quote} Yeah! Come on you Sterling, PLUMMET!!! {image}
Hi,

Does anybody supposed that bullish candle which i marked an arrow can be pull back from trendline and PPZ and price go up?
If no, i would like to know why?

thanks
fxstart
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  • #135,743
  • Jul 7, 2015 4:23pm Jul 7, 2015 4:23pm
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  • #135,744
  • Jul 7, 2015 5:46pm Jul 7, 2015 5:46pm
Quoting pwnstars
How much are you up for the year, Mike?
Hey Pwn

I don't love talking about what i'm up as everyone has a different idea of what is good to them. Feel free to shoot me a PM though

Best
Mike
  • #135,745
  • Jul 7, 2015 6:30pm Jul 7, 2015 6:30pm
Quoting fxstart
{quote} Hi, Does anybody supposed that bullish candle which i marked an arrow can be pull back from trendline and PPZ and price go up? If no, i would like to know why? thanks fxstart {image}
I have my trend lines drawn a little differently...in a pretty nicely formed channel. I'm currently thinking the BRN 1.5500 will provide resistance at least to the lower trendline. Not really an answer to your question, but a little different look at the same pair.

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  • #135,746
  • Jul 7, 2015 6:35pm Jul 7, 2015 6:35pm
Really hoping that pound continues to show weakness, at least down to BRN 185 on GBPJPY. I show confluence of 2 retracement levels, BRN, PPZ....I'll be watching this pair for the next few weeks for sure.

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  • #135,747
  • Jul 7, 2015 6:39pm Jul 7, 2015 6:39pm
USDJPY squeezing on daily...another one to watch.

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  • #135,748
  • Jul 7, 2015 7:19pm Jul 7, 2015 7:19pm
Quoting Donkey
USDJPY squeezing on daily...another one to watch. {image}
watching this one myself D, it's great divergence and TLs

Mike
  • #135,749
  • Jul 7, 2015 11:12pm Jul 7, 2015 11:12pm
Quoting Bladerunn3r
{quote} Good luck Oble, i have spent time on many of the forum threads and this is by far the most constructive and balanced. And congratulations on your 2 weeks
Quoting Guitarbloke
{quote} Good job Oble.
Quoting incognito517
{quote} Hey Oble, yeah it was pretty hilarious! Im relatively new to this forum as well but Ive been trading for a couple years. I totally agree with what you said, Im of the same mind actually. I wait for the market to come to me rather than chasing it. Youll notice that some traders here are of a different opinion, which isn't necessarily bad. Everyones different I suppose, but it just doesnt suit my personality. I love trading, its in my blood. Although I do have some bad habits like TUI (trading under the influence). Im supposed to be working...
Thanks guys!

@Courtney: and I'm Gerard. I have shared a couple of my first setups and outcomes some pages back.
Here's a new one: USD/CAD price broke above resistance at 1.2560 and formed an inside bar PA with the 3rd bar being bullish, and there has been a couple of prior PAs on this short term bullish trend (pin bar at swing low on 18th June and then BUOVB signalling continuation of trend on 29th June). Entered at the break above the mother bar with initial SL at 50% ret of the mother bar. Was being cautious and exited at the resistance area around 1.2690 for 1R profit but it looks like the price has since gone up higher to test the next resistance. Could have been 2R profit but oh well.
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  • #135,750
  • Jul 7, 2015 11:42pm Jul 7, 2015 11:42pm
Quoting incognito517
{quote} Thanks my friend. Also, I noticed DMD shared a "Double bar low higher close" bull setup. So I scampered to the start of this thread and yeah it was there in James' charts. Honestly? I never knew such a signal existed. And I suppose the DBHLC is its bearish sibling? I really ought to go through this thread thoroughly. Nice!
Yeah, and as GB said, it appears to me to work somewhat similarly to pin bars as they signal a reversal off a S/R level. Actually, my very first trade (and a win) was off a DBLHC : http://www.forexfactory.com/showthre...97#post8343297
  • #135,751
  • Jul 8, 2015 12:45am Jul 8, 2015 12:45am
Quote
Inco ,Hello Adhavan, I'm not about to give you any advice but just something to think about. I often read people talk about risking 2% per trade, and it's usually broker educational sites that push this propaganda

Quote
MF, I will give you 2 exampels, and maybe you should rethink

Thanks Inco, MF and Others to taught a valuable information about MM...

Adhav.
  • #135,752
  • Jul 8, 2015 1:24am Jul 8, 2015 1:24am
Quoting Adhavan
Hi All, I have planning to go sell in CJ, A strong close below VBRN 97 and Flip zone... {image} expect your commend.. Adhav..
Update of my early post..

CADJPY BE now
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  • #135,753
  • Edited 2:45am Jul 8, 2015 1:48am | Edited 2:45am
XAU/USD Gold h1. Supply and demand observation chart. Not particularly J16 but something I've become more interested in. Well, the trade is a break of some IB's but I took it mainly because we are in a downtrend and if you look left, that big wick has taken out any buy orders that may've been sitting there, so therefore I thought price should fall easily with no resistance. And it did. Fell like butter through a hot knife. Anyway, this is not a strategy I am suggesting, just an observation which may or may not be correct.

Inco. I hope you stick around and don't feel your opinions are not valid or appreciated here, because they are. In the 10 year history of this thread, you will find many differing viewpoints and variations/applications of J16 method and trading generally including MM and RR. One thing that sticks out for me is the tolerance and respect for different thinking that is demonstrated time and time again. I stay here not just because of the good company, vibe and strategies, but because no-one tells me what to do. No-one here says to me 'GB, you can't do that, it's not in the rules' or....'that's not j16', or 'you idiot' etc. even if I do take trades where I should've known better. Having said that, the below trade may or may not prove controversial. hehe. It's just out of interest and for demonstration only.

Thanks for your kind words FXBat. Still a student. Should have more of an idea in a couple of years. The learning never stops I suppose. :nerd:

Take care and good trading all.

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AUD/NZD H4 IB. 2 orders set. 2nd target 1.0815 just above 1.0800 area. I will of course be watching if price stalls/reverses at VBRN 1.1000 area.

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GBP/CHF D1. IB breakout. 1st target hit. BE and going for nirvana if price can push through resistance at 1.4550 area.

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'Fail to plan, plan to fail'
  • #135,754
  • Jul 8, 2015 2:16am Jul 8, 2015 2:16am
Quoting Tin-soldier
{image}
Nice one, I took this also.
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  • #135,755
  • Jul 8, 2015 2:23am Jul 8, 2015 2:23am
Quoting Guitarbloke
{quote} Yes, my trade is 3R at the moment. locked in 1.5 R. Good to see you getting on some winners.

Hello GB,
I also had two loosers yesterday.
One in NZD/CAD and another one were
I did not stick to my rules.
But overall its getting better now.
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  • #135,756
  • Jul 8, 2015 2:56am Jul 8, 2015 2:56am
Quoting Adhavan
{quote} Update of my early post.. CADJPY BE now {image}
Looks like it worked out Adhavan. Congrat's friend. Gb
'Fail to plan, plan to fail'
  • #135,757
  • Jul 8, 2015 3:02am Jul 8, 2015 3:02am
Quoting Kershey
{quote} Hello GB, I also had two loosers yesterday. One in NZD/CAD and another one were I did not stick to my rules. But overall its getting better now. {image}
Glad things are getting better Kershey. I notice you have been trading the M30 TF a bit? I get nervous when I trade below H1 but lower TF's can be handy for me to enter a trade early, as long as I have a higher Time frame PA signal like weekly, daily or H4 to begin with. But lot's of ways to skin a toy cat. All the best friend. GB
'Fail to plan, plan to fail'
  • #135,758
  • Jul 8, 2015 3:52am Jul 8, 2015 3:52am
finally a good trade for me too! IB on a daily chart, above Resistance 1.47 and TL. Next stop, 1.5000, i guess
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Market can stay irrational longer than you can stay solvent.
  • #135,759
  • Jul 8, 2015 4:00am Jul 8, 2015 4:00am
Quoting Guitarbloke
{quote} Glad things are getting better Kershey. I notice you have been trading the M30 TF a bit? I get nervous when I trade below H1 but lower TF's can be handy for me to enter a trade early, as long as I have a higher Time frame PA signal like weekly, daily or H4 to begin with. But lot's of ways to skin a toy cat. All the best friend. GB

I think somebody once said that the lower timeframes have a similar probability of working out.
When you have a great D1 setup it does not mean it will work out and
if you have a great M30 setup it does not mean it will fail.
If you have a coherent story around in the lower TF, why not take it, e.g. with reduced risk (see GBP-CHF below).
Maybe you get kicked out more often, but you have the chance to get a real runner with
initial RR clearly above 1:3, which is in my opinion difficult to achieve at D1.
Maybe you remember the GBP/JPY trade from yesterday.
The risk was 40 pips with an entry at 190.60. Now price is at 187.30.


Personally Iam new to this method, but I trade since 4 years now and
I try not advertise to take these low TF trades.
But Iam convinced with decent concentration they can give good results.
Maybe keep an eye on the thread of redsword1 thread.
He used to trade price action on large spectra of time frames.
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  • #135,760
  • Jul 8, 2015 4:14am Jul 8, 2015 4:14am
Quoting Kershey
{quote} I think somebody once said that the lower timeframes have a similar probability of working out. When you have a great D1 setup it does not mean it will work out and if you have a great M30 setup it does not mean it will fail. If you have a coherent story around in the lower TF, why not take it, e.g. with reduced risk (see GBP-CHF below). Maybe you get kicked out more often, but you have the chance to get a real runner with initial RR clearly above 1:3, which is in my opinion difficult to achieve at D1. Maybe you remember the GBP/JPY trade...
Absolutely. Low risk is good. Best wishes, GB.
'Fail to plan, plan to fail'
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