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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

  • #138,321
  • Jan 19, 2016 5:59pm Jan 19, 2016 5:59pm
Resting before another BO....
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  • #138,322
  • Jan 19, 2016 11:57pm Jan 19, 2016 11:57pm
USD/JPY D1 DBHLC in downtrend.

GBP/JPY BO/Short and DBHLC H4 in downtrend.

AUD/JPY BEOB D1 in Downtrend.
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  • #138,323
  • Jan 20, 2016 12:58am Jan 20, 2016 12:58am
Quoting Bill618
How low is Oil going? Mike? Jim? Anyone?.... {image}
"Oil prices sank to a 12-year low, falling under $28 a barrel in early Asia trade Wednesday, as a glut continues to weigh on markets"...

How much lower is Oil going?
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  • #138,324
  • Jan 20, 2016 12:59am Jan 20, 2016 12:59am
Quoting Adhavan
Hi All, PA(Double rejection with higher close) and yesterday bar closed above daily resistance and RN 1.55. {image} Adhav
Update of my trade..


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BE now, going towards TP

Adhav
  • #138,325
  • Jan 20, 2016 1:37am Jan 20, 2016 1:37am
Quoting Adhavan
{quote} Update of my trade.. {image} BE now, going towards TP Adhav
Well done Adhavan, nice trade
I don't know how you can leave such a big gap between price and your S/L - you must have nerves of steel!
Where price is right now (1.60300) there is a whole bunch of bar highs so i hope you get that last little push up you need.
Bill
  • #138,326
  • Jan 20, 2016 1:40am Jan 20, 2016 1:40am
Quoting Kershey
{quote} Hey GB, would be careful with that, for me its not a real IB, since its from bank holiday with low liquidity and long gold positions nearly doubled according to COT.
Cheers Kershey. I got out of that trade when it obviously wasn't going my way.
'Fail to plan, plan to fail'
  • #138,327
  • Jan 20, 2016 2:04am Jan 20, 2016 2:04am
Quoting Bill618
{quote} Well done Adhavan, nice trade I don't know how you can leave such a big gap between price and your S/L - you must have nerves of steel! Where price is right now (1.60300) there is a whole bunch of bar highs so i hope you get that last little push up you need. Bill
Hi Bill,

Thanks for your comment. I set my SL based bar type and location, in my point of view triple bar always have bit larger SL and more ever always enter high/low of PB,so larger SL is unavoidable..

"there is a whole bunch of bar highs"

If my understanding is correct, you point out below location (Circle)

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When I am looking opportunity in Daily time frame, I consider most probably last 5 to 7 years data only ( That is fit to me)

expect your feedback.

Adhav
  • #138,328
  • Jan 20, 2016 2:17am Jan 20, 2016 2:17am
Quoting Adhavan
{quote} Hi Bill, Thanks for your comment. I set my SL based bar type and location, in my point of view triple bar always have bit larger SL and more ever always enter high/low of PB,so larger SL is unavoidable.. "there is a whole bunch of bar highs" If my understanding is correct, you point out below location (Circle) {image} When I am looking opportunity in Daily time frame, I consider most probably last 5 to 7 years data only ( That is fit to me) expect your feedback. Adhav
I don't thinkyou will have a problem getting your T/P. It's just something i noticed when looking left but to be honest i haven't analysed your trade with any real conviction.
The bar highs i mean are here (blue area):
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  • #138,329
  • Jan 20, 2016 3:45am Jan 20, 2016 3:45am
Quoting Bill618
Nearly there.... Big lesson from this trade and EUR/GBP i was in earlier (110 pip profit) - BE PATIENT! because if i had waited for a bigger retrace, i would have made much bigger profit. Much bigger. Patience is a key ingredient! EDIT: Chickened out, took profit near top of preceding bar. Comfortable with that {image}
yeap knowing when to exit is key
  • #138,330
  • Jan 20, 2016 3:56pm Jan 20, 2016 3:56pm
A couple of trend following trades.
Not directly J16 ones, rather common sense.
Also not very high RR, but well thought through
before I took them.

short AUD-JPY and NZD-JPY.
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  • #138,331
  • Jan 20, 2016 9:35pm Jan 20, 2016 9:35pm
Hi All,
I am learning about PB's right now and this trade below seems (to me at least) to be 'Grade A' but i'm not certain.
I would appreciate some comments and advice please.

EUR/GBP D1 PB coming off a significant PPZ. Sell order on the break of the PB.
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  • #138,332
  • Edited 1:35am Jan 21, 2016 1:11am | Edited 1:35am
Quoting Bill618
Hi All, I am learning about PB's right now and this trade below seems (to me at least) to be 'Grade A' but i'm not certain. I would appreciate some comments and advice please. EUR/GBP D1 PB coming off a significant PPZ. Sell order on the break of the PB. {image} {image}
Your bar doesn't look much chop on my feed Bill, i.e. not quite a PB. I'm long on that BUOVB previous to your bar. Looks bullish still to me. But may turn and head down so I will remain nimble fingered.

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GBP/CHF D1 BEOVB


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EUR/CAD D1 PB. Buy. This is nearing resistance and monthly supply area, so looking forward to riding this one down if/when it turns.

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'Fail to plan, plan to fail'
  • #138,333
  • Jan 21, 2016 2:56am Jan 21, 2016 2:56am
Quoting Guitarbloke
{quote} Your bar doesn't look much chop on my feed Bill, i.e. not quite a PB. I'm long on that BUOVB previous to your bar. Looks bullish still to me. But may turn and head down so I will remain nimble fingered. {image} GBP/CHF D1 BEOVB {image} EUR/CAD D1 PB. Buy. This is nearing resistance and monthly supply area, so looking forward to riding this one down if/when it turns. {image}
Hi GB. How is it not a PB on your chart? What am i missing here?
Bill
  • #138,334
  • Jan 21, 2016 3:18am Jan 21, 2016 3:18am
Quoting Bill618
{quote} Hi GB. How is it not a PB on your chart? What am i missing here? Bill

Hey Bill. I don't have the technical aspects handy (page 1), but I believe the head/body needs to be well into the bottom 3rd of the bar in this case (for bearish) and smaller body than what appears on my feed. I think that's the description, but whatever we call it that bar sure is making a bearish statement, so not to be ignored. The BUOVB bar before it looks very bullish. Not sure if it's finished going up yet? All the best.
'Fail to plan, plan to fail'
  • #138,335
  • Jan 21, 2016 3:36am Jan 21, 2016 3:36am
Quoting Bill618
{quote} Hi GB. How is it not a PB on your chart? What am i missing here? Bill
Hi Bill,

I am also have same opinion with GB...

Adhav
  • #138,336
  • Jan 21, 2016 3:46am Jan 21, 2016 3:46am
Quoting Bill618
{quote} Hi GB. How is it not a PB on your chart? What am i missing here? Bill
Bill, I just checked your chart and it looks like a PB on your feed from what I can tell of bar charts. Just on my feed it isn't. This happens 'round here now and then. I know Jim has said in such cases to just play the set-up as it appears on your chart.
'Fail to plan, plan to fail'
  • #138,337
  • Jan 21, 2016 12:20pm Jan 21, 2016 12:20pm
Quoting alphac
A nice example of WIPG on the GbpNzd 4hr chart. {image} {image}
Price reaches the lowest PPZ.

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  • #138,338
  • Jan 21, 2016 12:43pm Jan 21, 2016 12:43pm
Quoting Bill618
Hi All, I am learning about PB's right now and this trade below seems (to me at least) to be 'Grade A' but i'm not certain. I would appreciate some comments and advice please. EUR/GBP D1 PB coming off a significant PPZ. Sell order on the break of the PB. {image} {image}
Hey Bill,

As GB said typically the bigger the wick the better. But more so than the pin itself if the location. I see what you're looking at as far as the PPZ, but we can't really look at that as a major zone. It was only touched twice as support, hasn't been hit as resistance, and all that was over a year ago, nothing recent to confirm. I've marked below the more significant area, top of the zone is also the 7800, if we tested this area then got a nice big wick through it that would be more appealing. Hope this helps.
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  • #138,339
  • Jan 21, 2016 2:10pm Jan 21, 2016 2:10pm
GB, Adhav and swTrue, thank you for the feedback, very much appreciated!
I see the damn thing did bounce down to near my original target whilst i slept. If only i had placed my S/L at the top of the bar.

Only a few days ago i watched a Video of Jims about PB's and some of them were only small wicks, some bearish ones didn't even close bearish (and vice versa) but they worked seemingly because of the location.

swTrue, i see exactly what you are saying and your analysis has really helped me. I need to be more careful about the exact location!
Bill


@ Alphac, GBP/NZD may be in a channel too?...
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  • #138,340
  • Jan 21, 2016 2:33pm Jan 21, 2016 2:33pm
[quote= @ Alphac, GBP/NZD may be in a channel too?... {image}[/quote]

Certainly worth keeping an eye on the top line, the 2.20 BRN is in there to. It's in a longer term down trend, there is divergence on the weekly though.
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