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james16 Chart Thread
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Apr 13, 2010 11:25am
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Quote:
Originally Posted by bertie123
Hi guys
can anyone explain why we got all these gaps in the last few days and is anyone trading them? Are these gaps a good opportunity?
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Not for me. I am pretty ok on the sidelines, while all the gaps get properly filled and the markets align themselves again...
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 14, 2010 7:15am
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Quote:
Originally Posted by jarroo
I thought I would show this interesting Daily IPB on the Gbp/Usd.
As we know, Bullish IPB, like any other Bullish PA, are best played at swing Lows, at a great location.
That being said, IPB could can also be played as a continuation setup or a break out pull back PA. There is a Monthly PB on the Gbp/Usd, sure the size is nothing to write home about but you gotta love the confluenced location it is sitting on. Monthly PPZ and 61.8 fib / 50% ret levels.
The entry on the Daily IPB is the Close which is 1.5379. The High of the Monthly PB is...
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Looks like you're having fun with your IPBs Jim.
I didn't take this because like you said they are best played at swing lows and major pull backs to up trends. This wasn't quite there for me,
You with all your experience rode a brilliant move.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 14, 2010 7:24am
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Quote:
Originally Posted by lovejoy80
I disagree the whole point of this thread is spotting heavily confluenced locations...then looking for PA at these areas to give you a headsup as to which direction represents the highest probability trade...sometimes you don't need PA if there are other correlations or such heavy confluence that you do not need PA to point you in the right direction.
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For those that follow fundies I am sure they use them as just another confluence factor.
The core of this thread always was, is and will remain Price action teachings at good confluence pivot zones.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 14, 2010 7:28am
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Quote:
Originally Posted by bertie123
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup. I am starting to believe in the power of the J16 methods and for the first time in ages I am optimistic about my trading.
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Thank you Bertie,
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For making my day...
You've been a patient and a rigorous learner, hence the reward.
We look forward to your insightful posts.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 14, 2010 8:44pm
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Quote:
Originally Posted by jarroo
Yeah I'm having alot of fun with these IPBs. This one was on demo. My IPB demo account is going through the roof. lol.
Being strict in structure, form and location is very important as you have mention. This is making a difference on my IPB demo acc.
On the Eur/Gbp Daily IPB that we talked about (post above) I did take this one. A lot of good things going for it but it didn't work out . What was the loss . . . -12 pips !! lol No hanging on to long drawn out draw downs on these IPBs.
On the Daily Gbp/Usd IPB:...
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 .
__________________
 - "It is dirt simple folks." <--> James16
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Apr 16, 2010 6:48am
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Quote:
Originally Posted by Atc
First don't take this the wrong way ....but as I understand and trying to learn according to Ghous and seniors that the IPB on the GBP/USD Daily was not technically an IPB because it did not open and close within the top third or preferably less than the previous bar.
This is not to say that the location and other factors that supported to short the pair were not viable.
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Technically speaking you are correct, but then the fact that the close was above (only very slightly) the previous bar's high wasn't a trade breaker IMHO.
Although I would have personally liked a deeper pull back...say to the 1.57, and divergence to support our trade I don't have a problem with anybody going for this trade.
It's just that I haven't relaxed my trade criteria for IPBs just yet...which means I pass on them quite easily.
Nice ride on the bar, those who took it.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 16, 2010 6:57am
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Quote:
Originally Posted by nasir.khan
Sorry guys. 
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You really should think twice before you throw in those 50 STDs of yours.
 ...
__________________
 - "It is dirt simple folks." <--> James16
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Apr 17, 2010 11:56am
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Hey guys,
I received a pm with a query regarding the validity of an IPB which was on the Hewlett Packard daily chart.
Thought I'd share my views with the entire gang, as this one's a great example that we can all learn from.
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I have been mentioning repeatedly that being meticulous with IPBs is imperative. There are several reasons that justify this.
1) Most of us are very new to these PA bars and their dynamics.
2) There is no "buffer" i.e an entry based on X number of pips from the PA bar low/high.
3) The stop is almost always very tight on these bars...probably the closest to entry point compared with all the other PA bars.
The shape of the IPB on this stock chart was what I call perfect. The location on the other hand was not as rosy.
Let me go through this again...
IPBs are best played at absolute swing highs and swing lows, and deep into pullbacks to major trends.
The word absolute here is the key.
When an IPB forms "near" the res/supp zone...it is always a risky trade.
Because we go in with tight stops on these bars we need to be assured that the dominant party is out of breath, at least temporarily.
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Coming to the relevant chart now. Look where this IPB forms at. Swing high? No. Near it? Yes.
Do you see what it does next? It goes past the Bearish IPB's high and decides to test the BUB's high. A common phenomena.
Notice that eventually price is met with heavy sell orders and Friday closed almost as a sweet BEOB. Point is the sell orders were waiting at the swing high, which is normally the case.
Do we see the risk that we are undertaking by shorting this stock with a tight stop against the trend, and below an obvious swing high, which price has a good chance of retesting?
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 18, 2010 1:20am
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Quote:
Originally Posted by jarroo
Recalulation: SL 12-13pips
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On Fxpro, it's like 1:3 via a 50 pip stop and a 150 pip target.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 19, 2010 6:30am
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Quote:
Originally Posted by Chris_B
Gooood morning guys!!
This is an Inside Bar trade....I placed the stop order on friday close...and this morning..surprise! Target easily hit!! Out at the first trouble area..
Fast +27 pips... my way to scalp the daily 
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And not that there's anything wrong with that.
Scalping higher tfs can be lucrative and powerful. The assumption here being that you know what you're doing.
nice trade Chris.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 19, 2010 6:32am
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Quote:
Originally Posted by kk007
Although not all or most people responded to my posts understand what I have been talking about, I find some of them do understand. For those who understand what I have been talking about, I have replied in details. If you don't think what I have said have any significance, you may feel free to ignore my posts. No worry.
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Point taken Kk, we can move on now...can we?
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 19, 2010 6:33am
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Quote:
Originally Posted by Trndsurfer
mate do you have some personal issue with you ego? 
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Kk is no stranger and has been with the group for some time. He probably thinks his ideas are being ditched here...
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 19, 2010 6:44am
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Quote:
Originally Posted by Chris_B
I think so..  because at the moment I'm having good results even with the worst setups..
Thanks Ghous!
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Don't let that difference between a "good BUOB" and "just a bullish outside bar" disappear though.
A brotherly advice.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 19, 2010 12:02pm
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Quote:
Originally Posted by Mauzzz
I'll never quit no matter how long it takes. I think I'm psychologically slowly getting to the point where the money is not really what's driving me forward, but rather the passion for trading and the desire to figure this all out and prove to myself that I CAN do it. Perhaps some senior member could tell me if that's, from their experience, a good way to approach this? What was and is the biggest motivation for you to trade?
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First thing's first. You don't have to be "extraordinary" to trade forex. By forcing yourself to enjoy this just for the sake of it will make this endeavor more difficult for you than easy, reason being your pushing to become that extraordinary man who just doesn't care.
It always was for money!
That emotional detachment from your $$$ is important but forcing the issue won't do you any good.
Treat $10,000 as 10,000 when in your trading account. Once retracted they deserve a lot more, and that's exactly what you should be striving for.
To answer your question, "money" has been the single most important factor that has provided me with the fuel to search success in this business.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 21, 2010 8:40am
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Quote:
Originally Posted by Trndsurfer
hello been lurking a while, got a chart AJ, IPB forming, I think, I dont play these yet just noticed it and wondered if I was right?
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hey there,
That would just be indecision bar for me, the nose has to be much longer to catch my attention.
Look to the left at the recent swing high. It hosts an IPB exactly how we like'em. Notice how the tail extends all the way down to the previous bar's low.
g.
__________________
 - "It is dirt simple folks." <--> James16
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Apr 21, 2010 11:54am
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Quote:
Originally Posted by nasir.khan
Any comments on this one Ghous.
Size is better but could have been a nice setup if developed around 55.
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This one was pretty good Nasir.
What really would have got me into this one was the "rounding out" effect that price was displaying, of course the ppz you drew was another big factor in favor of that IPB.
g.
__________________
 - "It is dirt simple folks." <--> James16
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36 Traders Viewing This Thread (14 are members)
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spookie94, chonyc, Donkey, djmartymac, Cyrus, actarus, mbqb11, BraFX, Dan Gilbert, joelcf, gc7, Atc, Todd, ghous
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