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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

  • #136,561
  • Aug 19, 2015 7:01am Aug 19, 2015 7:01am
EURUSD Daily

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  • #136,562
  • Aug 19, 2015 7:25am Aug 19, 2015 7:25am
Quoting alphac
GBPPLN 4hr, area to watch for PA on a retrace, BRN + S&R area. May even be a false break and give an opportunity to short, let PA show the way. {image}
GBPPLN 4hr, took a small trade after the OB, it's not the best area for a trade with those highs to the left and the large spread, so a tight stop, will take some off if it reaches those highs and move stop again, sometimes you've got to babysit the trades.

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  • #136,563
  • Aug 19, 2015 7:49am Aug 19, 2015 7:49am
Quoting patapouer
{quote} OK got it Then the difficulty is to find a balance between protecting your account while keeping the trade enough room to develop. .. couldn't find a clear cut answer to that I'm afraid
Yes Patapouer, I am trying to overcome it.. Will see..I hope Senior members Mike, Zamfir and others have any solution for this issue... I can manage my account in MT4 mobile app, its look simple buy not to do much like TL,Lines, etc... Tradeinterceptor is a good tool for trading as of I have used...Adhav
  • #136,564
  • Aug 19, 2015 7:51am Aug 19, 2015 7:51am
Quoting alphac
{quote} GBPPLN 4hr, took a small trade after the OB, it's not the best area for a trade with those highs to the left and the large spread, so a tight stop, will take some off if it reaches those highs and move stop again, sometimes you've got to babysit the trades. {image}
Alphac,I have been watch this pair, but the spread is major concern to enter 4 hr TF, it seems to be high.Adhav
  • #136,565
  • Aug 19, 2015 7:57am Aug 19, 2015 7:57am
@GB:
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  • #136,566
  • Aug 19, 2015 8:02am Aug 19, 2015 8:02am
Quoting Adhavan
{quote} Alphac,I have been watch this pair, but the spread is major concern to enter 4 hr TF, it seems to be high.Adhav
It is quite high and variable too, best to use an ECN account, the spread is a lot less, I didn't think my ECN account had this pair but I've just seen it was available.
  • #136,567
  • Edited 9:34am Aug 19, 2015 9:12am | Edited 9:34am
Remarkable. If you ask a monkey for a random trading idea he will generate better results.
Next loss taken (T-bond).
And next flull bar D1 loss in line (CAD-CHF).
My journal shows, way over 50% occur in the US session and
Im very of looking with at a screen with red numbers, this aint fun.

T-Bond:
Amied for trend continuation after 4H outside bar
wich was followed by the first D1 close above BRN of 158.00.
Placed the stop below the last swing high.
Market moves from trend to sideway market ok. No Trend has to reverse.
I want to win a award for the biggest losses trading with the trend.
Feels not nice to get fucked like this.

CAD-CHF:
Retrace entry for better RR of D1 pin who closed above SR zone.
Made a new weekly low already, so most likely a loss.

Edit: Full bar loss acquired. Have fun with my money in the US.
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  • #136,568
  • Aug 19, 2015 9:31am Aug 19, 2015 9:31am
Kershey, I would stop looking for setups and spend the time watching James and Mikes videos instead, go to the J16 webpage, there's plenty of free stuff, and the J16 youtube channel.
  • #136,569
  • Aug 19, 2015 9:34am Aug 19, 2015 9:34am
Quoting Kershey
Remarkable. If you ask a monkey for a random trading idea he will generate better results. ...}
no doubt, mate.

in the near future, chimps will rule our world.

check: http://www.welt.de/finanzen/article1...nvestoren.html
(only in german available)
meine augen sind die sterne
  • #136,570
  • Aug 19, 2015 9:35am Aug 19, 2015 9:35am
Quoting Kershey
Remarkable. If you ask a monkey for a random trading idea he will generate better results. Next loss taken (T-bond). And next flull bar D1 loss in line (CAD-CHF). My journal shows, way over 50% occur in the US session and Im very of looking with at a screen with red numbers, this aint fun. T-Bond: Amied for trend continuation after 4H outside bar wich was followed by the first D1 close above BRN of 158.00. Placed the stop below the last swing high. Market moves from trend to sideway market ok. No Trend has to reverse. I want to win a award for the...
Hi Kershey,

I have a simple answer for you, i hope it will help you. It helped me.

1. start trading only textbook PA. The CADCHF pin is not a textbook PA, it should be at a swing low, and actually your pin closed higher then the previous bullish candle, which makes it a kind of hanging man. Usually after such candles, the price turns down. Read about it on the web. Secondly, your pin didnt even break above, so the candle is invalidated.

Reg. textbook PA, read this article about J16 PA, its very good:

http://swing-trading-strategies.com/...ng-strategies/

2. stick with stop orders, not limit orders. Limit orders are for more professional traders. I mean, buy bullish pins on break of the high, not on a retrace.

3. have an R:R of minimum 2:1, so that having a losing streak wont affect you so bad. When your profit is double than your risk per trade, you can have 4 winners and 6 losses out of 10 trades and still be in profit overall.
Market can stay irrational longer than you can stay solvent.
  • #136,571
  • Aug 19, 2015 9:55am Aug 19, 2015 9:55am
Quoting Adhavan
{quote} Yes Patapouer, I am trying to overcome it.. Will see..I hope Senior members Mike, Zamfir and others have any solution for this issue... I can manage my account in MT4 mobile app, its look simple buy not to do much like TL,Lines, etc... Tradeinterceptor is a good tool for trading as of I have used...Adhav

When news is about to come out. No one can say what will happen. All S/Rs , PA become insignificant.

Most people don't realize this but anything can happen. News is news , there is no good or bad news from a retail traders perspective. In situations like these, you either BE or reduce your risk. Sometimes price moves in your favor , sometimes it doesn't. That's pretty much all you can do.

Always keep and eye on the calendar and plan your trades accordingly.
  • #136,572
  • Aug 19, 2015 10:00am Aug 19, 2015 10:00am
Quoting Kershey
Remarkable. If you ask a monkey for a random trading idea he will generate better results. Next loss taken (T-bond). And next flull bar D1 loss in line (CAD-CHF). My journal shows, way over 50% occur in the US session and Im very of looking with at a screen with red numbers, this aint fun. T-Bond: Amied for trend continuation after 4H outside bar wich was followed by the first D1 close above BRN of 158.00. Placed the stop below the last swing high. Market moves from trend to sideway market ok. No Trend has to reverse. I want to win a award for the...
Again kershey, I don't see a proper OB or a pin on daily(cadchf). Where are you finding these patterns?

May be i am missing something. Can you please clearly mark the bars and the TF. use a arrow to indicate which bar you think is a pin or OB and then use a small TL to mark your entry location after you have seen the pin or OB.
  • #136,573
  • Aug 19, 2015 10:05am Aug 19, 2015 10:05am
USDCAD 1h - BE.

Testing my intraday strategy.


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  • #136,574
  • Aug 19, 2015 10:21am Aug 19, 2015 10:21am
Quoting aserbfx
{quote} no doubt, mate. in the near future, chimps will rule our world. check: http://www.welt.de/finanzen/article1...nvestoren.html (only in german available)

Yes, they are way more intelligent than humans since they value the place they live in and dont destroy it like humans do.
And thanks very much for the link . I was looking some minutes for it but could not find it. Very worth a bookmark.
  • #136,575
  • Aug 19, 2015 10:54am Aug 19, 2015 10:54am
Quoting zamfir
USDCAD 1h - BE. Testing my intraday strategy. {image}
Fourth bar to the right might have been better entry since it cleared resistance and has more space to the left. Just a humble suggestion :-)
every Saint has a past. Every Sinner has a Future
  • #136,576
  • Aug 19, 2015 11:42am Aug 19, 2015 11:42am
Quoting turnip15
{quote} Fourth bar to the right might have been better entry since it cleared resistance and has more space to the left. Just a humble suggestion :-)
thanks turnip , but my entry was as per OB and my strategy. I just entered late. I m testing my self to see if 1hr intraday is possible for me. I was late on this one lol.
  • #136,577
  • Aug 19, 2015 12:54pm Aug 19, 2015 12:54pm
@Matt: I don't know what's up with FF but they're not allowing me to PM anymore for the day LOL.
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So anyway, I'm going to be away for a month. Any New Yorkers (hint hint nudge nudge) that would like to hook up this weekend for drinks, drop me a PM.
Until then, safe trading! Oh and Kershey, I hope you get back to winning ways soon.
See you guys when I get back.


@mordin: your psycho517 has officially left the building.
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  • #136,578
  • Aug 19, 2015 2:53pm Aug 19, 2015 2:53pm
Quoting jscathey11
Somewhat skeptical about doing this but maybe it will help a someone out with trading outside bars. I did a very very crude back test on the eur/usd using a daily chart. No filters just a plain ole outside bar. Please understand I did this back test in about an hour. No trend direction was taken into account. Test date started Aug 2011 till present day. 61 total trades were taken. 36 winners 24 losers. 59% Win Rate. BUT the shocking part was It was up around 2110 pips using an extremely easy entry SL and TP. On outside bars I use the 50% retracement...
I respect your way, it is worthy of admiration! I really appreciate your help for new traders. I trade PA since 2012 but has not arrived. I tested your technique in forex tester more than 6 hours from august 2011 to august 2015 44 trades 27 loss and 17 profitsand got loss 755 pips. I dont trade sunday bar and dont trade against my first position.
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  • #136,579
  • Aug 19, 2015 2:56pm Aug 19, 2015 2:56pm
Quoting incognito517
@Matt: I don't know what's up with FF but they're not allowing me to PM anymore for the day LOL. {image} So anyway, I'm going to be away for a month. Any New Yorkers (hint hint nudge nudge) that would like to hook up this weekend for drinks, drop me a PM. Until then, safe trading! Oh and Kershey, I hope you get back to winning ways soon. See you guys when I get back. @mordin: your psycho517 has officially left the building.{image}

haha you even have your own drink! Be safe C, see you in a month!
Had to be me. Someone else might have gotten it wrong.
  • #136,580
  • Aug 19, 2015 3:29pm Aug 19, 2015 3:29pm
Finally! Made right decision & took profit)
Took DBHLC on AUDJPY on 50% retrace. Decided to achieve RR 1:1, because my recent trades were not so good & didn't want to tempt fate.
My sell limit was based on 1) PA setup, formed on top of the box & weekly s/r; 2) confluence of fib levels; 3) on the left there was space for movement; 4) buying at the retrace because of midpoint of box in front of PA setup.
Hope my view & arguments for entering this trade are correct and I'm not just lucky)))
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