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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

  • #136,401
  • Aug 10, 2015 5:23pm Aug 10, 2015 5:23pm
Quoting incognito517
EURJPY D1 BUOB 50% entry. 2:1 TP hit!{image} Watching CADCHF D1 BUOB: {image}
that eur/jpy on the retrace was PERFECTLY played

Well done

Mike
  • #136,402
  • Aug 10, 2015 5:27pm Aug 10, 2015 5:27pm
Quoting incognito517
EURJPY D1 BUOB 50% entry. 2:1 TP hit!{image} Watching CADCHF D1 BUOB: {image}
Good trade - this is how I also enter, well one of my methods. Tried and tested way to get some good pips! (EurAud 4hr chart shown)
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  • #136,403
  • Aug 10, 2015 6:29pm Aug 10, 2015 6:29pm
Well done Inco and Pharley. I was in too many trades and let a couple go against me by losing focus. Time to step back and re assess. :nerd:
'Fail to plan, plan to fail'
  • #136,404
  • Aug 10, 2015 7:50pm Aug 10, 2015 7:50pm
For stock traders, AA(Alcoa) weekly chart looks interesting after a long downtrend.
I'll try to enter this week on a pullback.
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  • #136,405
  • Aug 10, 2015 9:41pm Aug 10, 2015 9:41pm
Quoting incognito517
EURJPY D1 BUOB 50% entry. 2:1 TP hit!{image} Watching CADCHF D1 BUOB: {image}
Very nice trade, Courtney!

Quoting mbqb11
{quote} that eur/jpy on the retrace was PERFECTLY played Well done Mike
Hey Mike, regarding entry methods that I have read both here and J16's PA materials on the J16 Group, I understand that entering on the close is considered aggressive, but I'm more interested in the difference between entering on either the break of PA bar, or a retrace of the PA bar (such as Courtney's 50% retrace entry). Is the retrace entry the most conservative entry compared to the other two or did I get it the wrong way around? What are the pros and cons of either entries?

The only ones I can think of are: entry on break often have to deal with a much larger initial SL placement, whereas entry on retrace has smaller initial SL placement but may miss some trades that just take off without retracing much. Entering on break of PA bar seems to sometimes cause trade management to be tricky if price decides to retrace the PA bar for a day or two (talking about trading daily TF and above) so it seems there is less chance of moving SL to BE especially for someone who only has time to look at charts for short amount of time in the morning and evening outside of work hours, or at least that's what I have noticed while demo-ing dailies for the past month or so.

Edit: found an old post of yours that said that entry on break is the most conservative. So I suppose entry on retrace is semi-aggressive.
  • #136,406
  • Aug 10, 2015 10:33pm Aug 10, 2015 10:33pm
Three more losers that I thought they were good setups.
Started the month with +2.45% and now I'm -4.21%.

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Had to be me. Someone else might have gotten it wrong.
  • #136,407
  • Aug 11, 2015 1:40am Aug 11, 2015 1:40am
Quoting mordin
Three more losers that I thought they were good setups. Started the month with +2.45% and now I'm -4.21%. {image} {image}
This is why i don't take the green bearish pins. They work rarely , but most times they fail. As a result you would either BE or take loss assuming if you only took these kind of setups. Also check if you were trading into a any VBRN.

Make sure the close is really strong on PA bars. Bearish PA should be red bars and Bullish PA should be green bars.

Don't trade for the sake of trading , but try to build the discipline to get out the BE cycle. Getting out of that BE cycle is one of the real challenges in trading.
  • #136,408
  • Aug 11, 2015 2:17am Aug 11, 2015 2:17am
What is that ?
Reminds me somehow on CHF some months ago.
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  • #136,409
  • Aug 11, 2015 2:34am Aug 11, 2015 2:34am
This is a perfect example of an inevitable loss and why
its so important to have a risk reward higher than 1:1.

Full bar D1 loss in the blink of an eye.
Next D1 setup with RR 1:2 around the corner?
Highly questionable.
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  • #136,410
  • Aug 11, 2015 3:01am Aug 11, 2015 3:01am
Quoting incognito517
EURJPY D1 BUOB 50% entry. 2:1 TP hit!{image} Watching CADCHF D1 BUOB: {image}
Nice trade. I had the same position, but deleted after 06.08....((( Need more practice & patience
  • #136,411
  • Edited 5:02am Aug 11, 2015 3:11am | Edited 5:02am
Kershey and Mordin and others

1. You are fighting the trend with very poor pin type candles (There are pdf's on this site -click paper clip -about pins).
2. Your Pins? were sitting on a big round number.
3. Look over to the left -lots of support (not a precise to the pip number but a channel or zone).
4. Above all you were fighting the trend with puny price action -meaning there was not a lot of action fighting the trend.
5.As Mike and others say, "Be more picky, trade the bigger time frames" and learn patience and discipline. Don't try to trade everything that passes for price action but go for robust action that requires waiting for big pins etc and fewer trades. Usually it is the small stake holder that crashes due to the fact they have little to show for fewer trades and crave action to grow their little pots which means patience, selectivity and discipline goes out of the window.
6. Read Post one again and look at Jim's' price graphs -no puny pins there
every Saint has a past. Every Sinner has a Future
  • #136,412
  • Aug 11, 2015 3:18am Aug 11, 2015 3:18am
Quoting zamfir
{quote} This is why i don't take the green bearish pins. They work rarely , but most times they fail. As a result you would either BE or take loss assuming if you only took these kind of setups. Also check if you were trading into a any VBRN. Make sure the close is really strong on PA bars. Bearish PA should be red bars and Bullish PA should be green bars. Don't trade for the sake of trading , but try to build the discipline to get out the BE cycle. Getting out of that BE cycle is one of the real challenges in trading.
I have just posted because I have noted of late that there are a few traders here that trade as if they crave action regardless of Pin or other bar type size, colour or location. Some would be wise to go to post one to read and study Jim's trading posts and graphs. They will note, hopefully, that location and size are paramount. Perhaps view the video on "space and location" etc on this site. The warning by Jim about small accounts and the urge thereby to trade anything that moves is still an important message to repeat every now and again. Patience, study, practice and commitment are paramount.
every Saint has a past. Every Sinner has a Future
  • #136,413
  • Aug 11, 2015 4:59am Aug 11, 2015 4:59am
Traffic versus space - basics
Found this for you. Hope it helps
https://www.youtube.com/channel/UCnJ...16XmGH1GsQbgIA
every Saint has a past. Every Sinner has a Future
  • #136,414
  • Aug 11, 2015 5:07am Aug 11, 2015 5:07am
Quoting Kershey
What is that ? Reminds me somehow on CHF some months ago. {image}
check http://www.forexfactory.com/news.php?do=news&id=552878
greetz
meine augen sind die sterne
  • #136,415
  • Aug 11, 2015 5:45am Aug 11, 2015 5:45am
Quoting srt
For stock traders, AA(Alcoa) weekly chart looks interesting after a long downtrend. I'll try to enter this week on a pullback. {image}
In my view it will be only correction. I do not know how you would like to play it but long enter with quick BE move seems to be a good trade. I trade stock as well as fx. If I am looking for shares to trade I look also for fundamental details, in this case P/E for Alcoa is 20, so in my opinion it is still expensive for long term trade.
  • #136,416
  • Aug 11, 2015 5:52am Aug 11, 2015 5:52am
Quoting Dariusek
{quote} In my view it will be only correction. I do not know how you would like to play it but long enter with quick BE move seems to be a good trade. I trade stock as well as fx. If I am looking for shares to trade I look also for fundamental details, in this case P/E for Alcoa is 20, so in my opinion it is still expensive for long term trade.
interesting view. i also look at fundamentals and like to trade at minor down-swings in overall long trends. AA has lost dramatically in the last months and the risk that sellers will step in again, is still there. tight SL recommended. thanks for the chart, btw.
meine augen sind die sterne
  • #136,417
  • Aug 11, 2015 8:03am Aug 11, 2015 8:03am
Quoting Reza.glm
Hi guys, hope you enjoying your learning and trading. it's getting more fun as you learn and go forward i'm in GBP/SGD. very nice BEOB. played pullback to 2.15 BRN to reduce risk. luckily survived the spreed widening at Friday. man it was like 60 pips when the marked was closing! did not Take profit at FTA and decided to leave the position open at weekend first because I'm only 0.3% in risk (thanks mike) secondly because its very big bar and i want to give it a shot for better gain. also it does formed a bearish pin in weekly and right now retraced...
update: price hit my SL, 0.3 loss, very small but maybe smarter choose was BE at FTA
  • #136,418
  • Aug 11, 2015 9:36am Aug 11, 2015 9:36am
EURUSD 1hr pinbar, it's a small pinbar, the trendline isn't great, there is divergence. I didn't take it myself, if you are going to take these smaller pinbars you really need something else on your side apart from the bar alone, they do work out. If I'd taken it I would be out now or at least banked some and at BE.

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  • #136,419
  • Aug 11, 2015 9:46am Aug 11, 2015 9:46am
great analysis
Reliable/Stable/Profitable/Signals.
  • #136,420
  • Aug 11, 2015 10:26am Aug 11, 2015 10:26am
Quoting mbqb11
{quote} Hey Ziven Both can be playable. I tend to call them pre-emptive breakout bars as they are signaling the potential for the breakout. if the bar closes UNDER the TL you want to make sure to play a break of the bar and the TL because that area should take off if the breakout is correct. If price closes outside the TL you want to usually buy/sell closest to that TL which may be on the Close(like mine) or a pullback I don't mind holding trades over the weekend if price is far away from my stops and so long as the markets are unstable. For example...
Quoting ziven78
{quote} I always thought that if the candle closes below TL it makes TL stronger and possible bounce more likely thus i would never take trade like this. Thanks a lot for enlightening me on the subject, it's good to learn new stuff all the time. I'll be looking for this pre-emtive BO from now on.
Hi Mike,

Would you consider this one as a pre-emptive BO? Close above TL and a bit of a pull back. (8H BUOB etc.)
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