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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

  • #137,441
  • Oct 27, 2015 6:14pm Oct 27, 2015 6:14pm
Mike, are you long Nat gas on break of daily hammer?
  • #137,442
  • Oct 27, 2015 7:47pm Oct 27, 2015 7:47pm
AUD/USD D1 PB. Profit locked. Trading D1 much easier.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #137,443
  • Oct 28, 2015 2:16am Oct 28, 2015 2:16am
Quoting Kershey
A typical and frequent J16 loosing trade. EUR/JPY 4H outside bar and D1 pinbar fail at BRN of 133.00 {image}
Oh, come on, Kershey! It's a "typical and frequent" silly trade. There is no J16 trade. I lost my money too, playing this "pinbar", but I wil never call it J16 trade or blame J16 for this loosing trade. Here we see absolutely the same situation, that was at USDCAD a few weeks ago, when you entered similiar "pinbar".
  • #137,444
  • Oct 28, 2015 2:18am Oct 28, 2015 2:18am
Quoting Guitarbloke
AUD/USD D1 PB. Profit locked. Trading D1 much easier. {image}
I have the same trade))) Moved to BE
  • #137,445
  • Oct 28, 2015 2:53am Oct 28, 2015 2:53am
Quoting antisystem
{quote} I have the same trade))) Moved to BE
Chart?
'Fail to plan, plan to fail'
  • #137,446
  • Oct 28, 2015 3:21am Oct 28, 2015 3:21am
Quoting Guitarbloke
{quote} Chart?
Here is screenshot of mobile)) I'm not near computer
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  • #137,447
  • Oct 28, 2015 3:41am Oct 28, 2015 3:41am
Quoting antisystem
{quote} Here is screenshot of mobile)) I'm not near computer {image}
Thx. cool. good luck.
'Fail to plan, plan to fail'
  • #137,448
  • Oct 28, 2015 5:57am Oct 28, 2015 5:57am
Hello. Earlier I somehow do not trust the PA .... and that's working. Many thanks to the team James 16. everything falls into the shelf. Nevertheless, I ask the critics, it may well be something not right, despite the fact that everyone has his vision of the situation. very grateful. https://gyazo.com/1b05f8bfdb3b5ed9bd9f690fa4f8e8c6
  • #137,449
  • Oct 28, 2015 7:44am Oct 28, 2015 7:44am
Quoting vlazaf
Mike, are you long Nat gas on break of daily hammer?
Hey V

I don't see any pinbar on the current contract, not am market i've traded though can get pretty wild

Best
Mike
  • #137,450
  • Oct 28, 2015 1:54pm Oct 28, 2015 1:54pm
Quoting mbqb11
{quote} Hey K I think you are getting to fixated on the bar and not the story...{image}
The story for me was:
Support area at BRN 133.00. Test of this area with the result of a bullish outside bar/D1 pin.
Additionally the support level is the 50% retracement of the april - may move.

Sure there is a bearish breakout bar but this is subjective.
There is also a strong support area and I did not catch a falling knife there
since I entered after a resting bar and a price action bar at a strong support area.
The price action bar and the fib level at the support level with BRN are 4
things which justify an entry with a story for me.
There is no perfect trade.
The stop was placed below the weekly lows.
The market broke those, just a loss.

Best,
K
  • #137,451
  • Oct 28, 2015 2:00pm Oct 28, 2015 2:00pm
Another loss in long EUR/GBP.

Story:
Range breakout from inside bars at D1/4H level.
50% fib level.
BRN 0.7200
D1 pivots at 0.7200 (strong reactions)
Attached Image (click to enlarge)
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  • #137,452
  • Oct 28, 2015 2:06pm Oct 28, 2015 2:06pm
This was the trade of the day.
EUR/CAD
RR 1:4.5
But did not take it
Attached Image (click to enlarge)
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  • #137,453
  • Oct 28, 2015 2:33pm Oct 28, 2015 2:33pm
Quoting vanilla.sky
Hi, I will be waiting on PA on retrace to the breakout line. {image}
Hi,
Missed entry as was not at the computer but played well.
Kershey, I see you took different view of the scenario.
Cheers.
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  • #137,454
  • Oct 28, 2015 3:13pm Oct 28, 2015 3:13pm
USD/SGD D1. moving up nicely. A little stall at current 1.40400 area at recent highs. 100 pips staring me in the face, so locked profit in. Can always get back in later if stopped out. Damn, missed E/C trade. Nice BEOVB on W1 looked to be the signal. Might see if I can catch some pips if it heads back up.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #137,455
  • Oct 28, 2015 3:34pm Oct 28, 2015 3:34pm
Quoting Kershey
Another loss in long EUR/GBP. Story: Range breakout from inside bars at D1/4H level. 50% fib level. BRN 0.7200 D1 pivots at 0.7200 (strong reactions) {image}
This caught me out too for a small loss but it looks like a genuine break of support which then becomes resistance but with a false break along the way. I had a nice big down arrow on my chart from my initial analysis but stupidly decided to go against it whilst viewing things on a lower time frame..... a lesson in trusting your initial opinion here for me.
  • #137,456
  • Oct 28, 2015 4:28pm Oct 28, 2015 4:28pm
Quoting Bladerunn3r
{quote} a lesson in trusting your initial opinion here for me.
And trusting higher TF's over lower. I missed E/C trade that I initially saw as going short, stuffing around trying to analyse smaller TF's. The weekly said it all.
'Fail to plan, plan to fail'
  • #137,457
  • Oct 28, 2015 4:38pm Oct 28, 2015 4:38pm
Quoting Guitarbloke
{quote} And trusting higher TF's over lower. I missed E/C trade that I initially saw as going short, stuffing around trying to analyse smaller TF's. The weekly said it all.
The daily and weeklies post such clear structures, good to keep the screen time down a bit too. Very easy to justify trades when you look at the charts too long.
  • #137,458
  • Oct 28, 2015 5:17pm Oct 28, 2015 5:17pm
Hello guys! What do you think about this pin bar on eur/aud? Trend was broken down and now we have a beautiful pin bar on the retrace. Sell on the retrace to the resistance level seems logical.

Cheers
Andy
Attached Image (click to enlarge)
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  • #137,459
  • Oct 28, 2015 7:24pm Oct 28, 2015 7:24pm
Quoting TheLegendary
Hello guys! What do you think about this pin bar on eur/aud? Trend was broken down and now we have a beautiful pin bar on the retrace. Sell on the retrace to the resistance level seems logical. Cheers Andy {image}
Hi Andy, It is a a good looking pin, it is perhaps the wrong colour but it is coming off the 61 fib. Not a huge space for price to move into if you look left but I think on a deep retrace this could be worth some pips.
  • #137,460
  • Oct 28, 2015 8:13pm Oct 28, 2015 8:13pm
Quoting TheLegendary
Hello guys! What do you think about this pin bar on eur/aud? Trend was broken down and now we have a beautiful pin bar on the retrace. Sell on the retrace to the resistance level seems logical. Cheers Andy {image}
Hey Andy

The on thing to understand here really is the environment. I often tell traders it's not really about right or wrong all the time. Sometimes it comes down to what you are comfortable with too after testing for awhile. So when I see this situation I don't disagree with your entry but some things that keep me out. Just be aware that your space is zero here(since your pinbar is at a very minor swing low created by a sharp pullback). So i'm VERY glad to see you ONLY will sell this on a retrace. The pin itself is trapped in a tight box. So basically the low of the pinbar is your FTA(or the midpoint of the smaller range). That's why someone who plays the break of this bar is setting themselves up for a disaster in the long term. So i'd say be nimble here if you take it, it's one to get to b/e or take profit quick in my eyes.

Hope that helps

Mike
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