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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

  • #137,601
  • Nov 20, 2015 1:01am Nov 20, 2015 1:01am
Maywe play this formation ?
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  • #137,602
  • Nov 20, 2015 1:42am Nov 20, 2015 1:42am
Quoting Poinson
Maywe play this formation ? {image}
I wouldnt.
Maybe XY would. Figure out what works for you and seek confirmation on forums.
There are just way too many ppl with different approaches.

But if i sorely look at the TA, then you are trading against the trend, and you are also trading against chop / you trade against that massive box that we just left...
If you fade the trend at least go for a decent risk reward... Otherwise you are going to ruin yourself.

Having that said this specific trade might work and price drop to 0.7000 and you might say "I knew i was right" and mark it as an A+ trade. But normally (if you consider 100 such trades) they usually dont work that way.

Stephen
It's all psychology...
  • #137,603
  • Nov 20, 2015 3:54am Nov 20, 2015 3:54am
Quoting Poinson
Maywe play this formation ? {image}
Hi, Poinson
As I could understand, you entered BEOB on retrace 6 bars ago. Why didn't you put SL?
  • #137,604
  • Nov 20, 2015 3:58am Nov 20, 2015 3:58am
Quoting mbqb11
{quote} Hey V You mean Buob right? You went long? Ok so this just comes down to quality for me. In this case the BUOB is technically one but for me I look at a bar like that and see small neutral bar(that is the open and close are in the middle of the bar with equal tails. yes price bounced but that samll bar vs the much large previous bearish move is very difficult to buy back into. We could really look at that as a huge 8hr beob engulfing a huge range and breaking a recent rising TL. I'd rather be a seller here to that box retrace area Does this...
Hello Mike,
That makes perfect sense: my trade is perfect example that small PA is valuable but harder to decipher.
If I decipher it properly I would not enter cause it does not match the story.
If it would be big PA, probably it would allow me to take at least TP1.
Cheers.
  • #137,605
  • Nov 20, 2015 11:50am Nov 20, 2015 11:50am
I heared there is a breakout party goin on in the late US session.
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  • #137,606
  • Nov 20, 2015 12:59pm Nov 20, 2015 12:59pm
Nice catch Kershey.

XAU/USD D1 BEOVB blended candle. The trend is your friend. BE.

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'Fail to plan, plan to fail'
  • #137,607
  • Nov 20, 2015 4:12pm Nov 20, 2015 4:12pm
Quoting Guitarbloke
Nice catch Kershey. {image}

Well, I get fucked in the ass by this technique as usual.
Now its a D1 pin failed breakout.
Same with USD/CAD, failed 4H pin.
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  • #137,608
  • Nov 20, 2015 4:18pm Nov 20, 2015 4:18pm
Quoting Kershey
{quote} Well, I get fucked in the ass by this technique as usual. Now its a D1 pin failed breakout. Same with USD/CAD, failed 4H pin. {image} {image}
Hey K

Have you seen my video on traffic vs space as well as my recent posts on boxing?

Inserted Video


http://www.forexfactory.com/showthre...05#post8600705

This beob was in a sideways market with no space to run. Where that space run out is right where it reverses.

This is the theme of a lot of markets right now. If you can spot these sideways consolidations its a lot easier to avoid them. Or I prefer to be trading off the tops and bottoms only . It's much better to decipher the market conditions before putting weight on the PA bars

Hope it helps
Mike
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  • #137,609
  • Nov 20, 2015 4:22pm Nov 20, 2015 4:22pm
Quoting mbqb11
{quote} Hey K Have you seen my video on traffic vs space as well as my recent posts on boxing? https://www.youtube.com/watch?v=F-31fRCUuRs http://www.forexfactory.com/showthre...05#post8600705 This beob was in a sideways market with no space to run. Where that space run out is right where it reverses. This is the theme of a lot of markets right now. If you can spot these sideways consolidations its a lot easier to avoid them. Or I prefer to be trading off the tops and bottoms only . It's much better to decipher the...
whoops meant to add the boxing of your other charts too
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  • #137,610
  • Nov 20, 2015 4:39pm Nov 20, 2015 4:39pm
Quoting Kershey
{quote} Well, I get fucked in the ass by this technique as usual. Now its a D1 pin failed breakout. Same with USD/CAD, failed 4H pin. {image} {image}
Hi Kershey,

Sorry for the frustration. I'm sure others can give you some better analysis but I'll toss out an opinion.
I feel that if you take a "break-out" from a level, the move should be hard enough that it should pretty quickly get away from the area it broke from or the level wasn't very strong. After the break, the SL can be just a short distance above/below the break because if the level is strong then price shouldn't easily cross it within a short period of time. You will get some that "whip" back up/down & hit your SL but better to have a small SL than bigger losses.

In your trade, the R:R is much too big IMHO. You need a big winning percentage just to break even with that R:R.
Your "break-out" level (blue line)was good & with a smaller SL could have gotten 1:1 or 1:2 based upon the 4H chart.
I marked 3 "break-out" trades on your 4H chart but the same techniques could be used on HTF charts.
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  • #137,611
  • Nov 20, 2015 5:46pm Nov 20, 2015 5:46pm
Quoting mbqb11
{quote} It's much better to decipher the market conditions before putting weight on the PA bars Hope it helps Mike {image}

Hello Mike,
well ok with the USD-CAD Im kinda with you, although on the
4H its a pin off a 1.3300 BRN after heavy bearish momentum candles
and a check of yesterdays pivot low (your box) should be a
reasonable target. There is no perfect trade.

In the crude chart I have to disagree.
For me this trade is a D1 trade.
On a former pivot location.
Now there is a D1 pin at this location.
Followed by inside bars.
For me your upper box (D1) is only
a box after todays bar, which is in fact after the entry.
This is a triangle, a NR7 if you want, a J16 IB setup if you want,
which can be traded as breakout, but not a space limiting
upper box before todays D1 bar.
Subjectivity.

Best,
K
  • #137,612
  • Nov 20, 2015 5:52pm Nov 20, 2015 5:52pm
Quoting srt
{quote} In your trade, the R:R is much too big IMHO. {image}
Hi srt,

exactly !
And in my opinion poor reward on initial risk
at the D1 chart is a major disadvantage
of the j16 trading method.


Enjoy your time in your location ;-)
Im in living in the fridge right now.
  • #137,613
  • Nov 20, 2015 6:52pm Nov 20, 2015 6:52pm
Quoting Kershey
{quote} Hi srt, exactly ! And in my opinion poor reward on initial risk at the D1 chart is a major disadvantage of the j16 trading method. Enjoy your time in your location ;-) Im in living in the fridge right now.
Moving to a lower TF can get you a smaller SL but it can make it worse if you move your TP to the FTA without moving SL closer.
You might want to just look @ the daily & place SL/TP based upon daily only. If you look @ 4H then place SL/TP based upon 4H.

USDCAD potential "daily" setup using a better SL/TP based upon your entry on break of the PB.
The day after the "break" of the PB, the SL could be moved to top of the candle that made the break. If the level is good, price should stay below the "break". Even if the trade fails without moving the SL, your R:R is much better so you don't need such a high win/loss ratio.

***Yes, I'm enjoying sun & 80s. You can keep the cold.
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  • #137,614
  • Edited 7:20pm Nov 20, 2015 7:06pm | Edited 7:20pm
Quoting Kershey
{quote} Hello Mike, well ok with the USD-CAD Im kinda with you, although on the 4H its a pin off a 1.3300 BRN after heavy bearish momentum candles and a check of yesterdays pivot low (your box) should be a reasonable target. There is no perfect trade. In the crude chart I have to disagree. For me this trade is a D1 trade. On a former pivot location. Now there is a D1 pin at this location. Followed by inside bars. For me your upper box (D1) is only a box after todays bar, which is in fact after the entry. This is a triangle, a NR7 if you want, a...
Hi Kershey,
Although i trade my own method,but J16 stuff is base where i started.
Its been a while ,since i have posted in this thread,but i'm sure my post will consolidate the material in this thread.
What i am posting is basic PA rules and corresponds what has been taught in this thread.
You see your USD CAD trade is against a big up trend in USD/CAD,considering that you must be backed up by solid reasoning for taking such a counter trend.

Considering you do take the USD CAD short based on 4 hour chart that makes it a rule the management of the trade be done on intraday basis not based on higher time frame,which essentially means you had to pay close watch at 30 minute chart for seeing if trade is working out smoothly.
You also had to see that previous daily bar in USD CAD was pseudo pinnish bar and the pair is making a higher low on the daily chart,which means short trade is against intraday trend,since i have already said you took an intraday setup,you have to honor the intraday trend,which was very likely going to be up as the previous daily bar hinted at.

The Concept of space has been discussed by mike a lot.
It is very true that USD CAD had lot of support at the lows of the 4 hr pin bars,in short there was a lot of traffic there.
More Space means that support is far away,in your case USD CAD had plenty of support down there.

See my chart you will see hourly support marked in the chart,price was tradinng right into it,and essentially rejected and made a BUOB on the 15 minute Chart,Since you were trading a 4 hourly chart it was very important that you keep your eyes open for intraday Price bars especially 15 minute PA bars.

You have to manage the trade according to the time frame you chose the pattern on,in this case you keep watch on the 15 minute and 30 min.
You can't be lazy after you put up a trade,you have money on the line here,so you have to actively see what happens in the market.
You did trade the 4 hr pin bar very nice,but you essentially became lazy after you took the setup.
You should watch out for conflicting BUOBs against your bearish setup.
Your setup broke its low then rejected of the support,with a BUOB.

All said and done, you don't have to sit for a full bar stop loss to be hit,after you saw that price came back strongly on the 30 min chart you could have closed the trade for small loss.

This is just my opinion,hope this helps.
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  • #137,615
  • Nov 20, 2015 10:31pm Nov 20, 2015 10:31pm
Quoting Kershey
{quote} Well, I get fucked in the ass by this technique as usual. Now its a D1 pin failed breakout. Same with USD/CAD, failed 4H pin.
Suggestion: try to find one going WITH the trend

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It takes a lot for me to IGNORE you, but you can try.
  • #137,616
  • Nov 21, 2015 1:30am Nov 21, 2015 1:30am
Quoting Erebus
{quote} Suggestion: try to find one going WITH the trend {image}
The more I learn and understand about the topsy turvy world of Forex the more this rule becomes the golden one.
  • #137,617
  • Edited 4:24am Nov 21, 2015 3:53am | Edited 4:24am
usd generally its a crucial level ,but u cad can be unpredictable compared to say aud ,trend is relative ,actually has not been in a trend for some weeks
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,618
  • Edited 5:25am Nov 21, 2015 4:53am | Edited 5:25am
I agree down trend ,

http://www.forexfactory.com/showthre...84#post8540384

Quoting Erebus
{quote} Suggestion: try to find one going WITH the trend {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,619
  • Nov 21, 2015 9:54am Nov 21, 2015 9:54am
Hello dudes,

I am an advanced jarroo's trader and i learnt it thanks to an italian trader.

Now i want to go deeper and i would ask you guys which is the start page of this 3d about the jarroo method. I want to study it in his original language

Thanks
  • #137,620
  • Nov 21, 2015 10:31am Nov 21, 2015 10:31am
Quoting cr1982
Hello dudes, I am an advanced jarroo's trader and i learnt it thanks to an italian trader. Now i want to go deeper and i would ask you guys which is the start page of this 3d about the jarroo method. I want to study it in his original language Thanks
Hi!

Start here:
http://www.forexfactory.com/jarroo

As he has been inactive for more than 2 years now he kind of lost his credibility in my eyes...
But you might find some of his ideas interesting which might inspire you.

Have fun.
S.
It's all psychology...
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