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james16 Chart Thread
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May 27, 2010 2:08pm
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Underachiever
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Quote:
Originally Posted by Dan Gilbert
crude looks like it's approaching an important zone.
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Yep
and DOW too.
This could bring another rally today, in majors (many of them are at crucial levels).
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May 27, 2010 2:22pm
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Underachiever
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Gold would also be interesting to watch (maybe next week).
BRN+DIVG+Double Top+ TL
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May 27, 2010 2:47pm
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Underachiever
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1H BEOB???
Nit much time left for that. lol
Anyways lets see...
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May 27, 2010 3:13pm
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Underachiever
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Quote:
Originally Posted by six gun
I heard that when James had made $16 thousand zillion trillion on the markets he heard that it was easier for a rich man to get into Heaven than pass through the eye of a needle.
Not wanting to go on a strict diet he decided he would guarantee his place in Heaven by telling us lot about his secret method for success.

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Here ya go fellas...
http://www.forexfactory.com/showpost...ostcount=56953
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Jun 3, 2010 8:08am
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Underachiever
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Quote:
Originally Posted by jarroo
Forget what I was going to post . . I'll just copy this one. 
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me too.
I read somewhere in Tia's posts that "It's the hardest,.... easy money you'll ever make".
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Jun 3, 2010 10:40am
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Underachiever
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Quote:
Originally Posted by TiaForex
Man, this is the holy grail written out if ever I saw it.
There are two places on the journey where trading looks dirt simple. The beginning and the end. The path in between can be a world of hurt. When you start it looks so easy and effortless, you can't wait to start, trade big positions, give other people your money to trade for you....anything just to get the cash register ringing. Then you get hurt and bruised (inevitably) and you get paralysed by fear. You start associating pulling the trigger with losing because you become gunshy. (After...
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Another great post.
I knew it was james16's line but I just wanted you to "come out".
and you said this line just 1 year ago on 4th june LoL.
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Jun 4, 2010 6:51am
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Underachiever
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Long Term PPZ coinciding with a 4H PPZ +TL
Will it hold or not ,
GOLD
50 FIB + PPZ + a weird TL
Lets see.....
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Jun 8, 2010 4:47am
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Underachiever
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Quote:
Originally Posted by nasir.khan
Gold would also be interesting to watch (maybe next week).
BRN+DIVG+Double Top+ TL
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Anyone remember that.
Now lets see what we get here.
Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.
P.S: Anyone for Punjabi music.

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Jun 8, 2010 5:00am
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Underachiever
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Quote:
Originally Posted by jarroo
I saw that Gold chart before the NFP, nasir. Wow.  . . . BE! . . 
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Yep it came back once more and took me out.
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Jun 8, 2010 5:35am
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Underachiever
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Quote:
Originally Posted by elizo
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.
Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.
Thanks everybody around.
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Welcome and Good start eli.
Btw you picked up your FTA very well.
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Jun 8, 2010 5:59am
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Underachiever
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Quote:
Originally Posted by nasir.khan
Anyone remember that.
Now lets see what we get here.
Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.
P.S: Anyone for Punjabi music.

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Here we go.
Now see how far this little CT could run. 
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Jun 8, 2010 9:20am
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Underachiever
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Quote:
Originally Posted by fxeturn
nasir could you share the reason of your entry? Is it based on that TF coz I can't see PA.
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Hey Fxeturn,
Time Frames Does't have to do much in this case, it's about the "location".
It was a touch trade. It's an aggressive way to trade PPZ's with confluence (TL's, FIB's) i.e pulling the trigger as price hits the zone.
without waiting for PA.
Takes some time and practice but first you should master the basics. 
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Jun 8, 2010 12:12pm
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Underachiever
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Quote:
Originally Posted by raczekfx
You're itching to trade... that's no good..
divergence is really of no help, unless used with the most recent bars..
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Quote:
Originally Posted by joelcf
For every time it signals a retrace, it gives you three signals of a pause in momentum.
I think Dan has a point. Most people would be better off without it, since they dont even know what it is, what it means or how to use it. Look at the number of people using an RSI(6) because they saw Ryan do it, and then 'spotting divergence' between bars 66 periods apart.
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Quote:
Originally Posted by rustyjeff
hey hey hey... Ryan dont make too easy..
next thing Rac will be listing rules or something..... 
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Quote:
Originally Posted by Ryanmcd
Yep and that is why I like it to be less then 10 bars on the 5min because the longer it gets the less it works or at least what I have seen, Hell if you go back far enough you can get a 95% loss rate off of divergences.
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This time the price for the ripoff E book will more be then 19$.
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Jun 9, 2010 4:53am
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Underachiever
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Will this range hold or break?
There is some Divg and 150EMA nearby.
Lets see.....

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Jun 9, 2010 5:39am
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Underachiever
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Quote:
Originally Posted by ghous
We don't have our rac-man to blow us away, you got to fill in Nasir, O'course you are more than capable of doing it.
g.
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Thanks.
but that space is too big for someone like me to fill in Ghous.
But i'll be posting what i know. 
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Jun 9, 2010 7:17am
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Underachiever
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Quote:
Originally Posted by Jonnyislost
Agree g, I think it's totally acceptable to be "mad" at ourselves for making trading errors, as it helps us ensure we don't make them again.
But to simply get mad at the market when setups don't work out (even though we do everything right according to our strategy) I think is a bad mindset. I'm sure most people here have experienced the "everything is against me" type paranoias that I went through in the beginning 
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The beginning phase gets over pretty early/easily, i mean it takes only 3-9 months to learn Pin Bars @ PPZ's and also those little mistakes like putting wrong orders get corrected automatically.
and then psychology kicks in, like FEAR, GREED, REVENGE TRADING etc.
And this part could take years to get over and it takes out more than 95% people out of the game. ( there are some lucky people who does't even taste these things).
and i am struggling through that one atm.
so for me it's 10% technicals/charts and 90% Psychology.
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Jun 9, 2010 8:23am
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Underachiever
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Quote:
Originally Posted by elizo
Hi,
so this deal finally came back. Good that I took profit with 2/3 of the load around 1.4415. Now, I would like to submit to the experts and senior members a question: Once I realised, in the bearish journey, that 1.4435 was acting as a new PPZ, I set my remaining 1/3 SL at 1.4445, where the red line is. Market came and I took that profit as well. The thing is that I realised this in the 30m / 1h chart. I only looked at them once my first profit was already cashed and after noticing some struggling to go further down.
So how do you see this,...
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Mike or Jarroo will come up with a much better answer Eli.
I would recommend not doing this stuff at early stages of your learning curve. Just trade and manage the TF you took your trade in.
Cause it gets very confusing when you see counter PA in a lower TF and it shakes you off your initial trading plan.
Some people (including Mike) do trail there remainder positions behind 1-2 bars in a lower TF. I mean like taking a position on Daily and trailing it on 4H bars and there is nothing wrong with that.
But if you try to "analyze" the situation in lower TF's, like finding PPZ and FIBS it gets confusing.
So all i am trying to say is Keep It Simple. 
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Jun 9, 2010 8:39am
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Underachiever
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Won't mind some PA @ 10,000. 
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Jun 9, 2010 11:13am
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Underachiever
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Quote:
Originally Posted by ghous
Vadhiya? lol
I always thought it was Badhiya, or let's say that's what I inferred from bollywood movies. 
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It's Badhiya in Hindi and Vadhhiya in Punjabi.
i think. lol
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Jun 9, 2010 11:56am
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Underachiever
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Quote:
Originally Posted by Dan Gilbert
manipulated shmanipulated. trend is friend. Also, why buy at 1224? it's the best bet!
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Of course you'll make your own decision and i'll make mine.
IMO we don't have that much confluence (MA's, Divg, Tl's)like previous locations.
EDIT: Sorry the second one din't had Divg forgot to remove the Rectangle.
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Jun 9, 2010 12:03pm
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Underachiever
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Quote:
Originally Posted by msmarple
Hi Nasir,
thank you for your very informative charts. Actually, I have been following your recommendation in lovejoys journal, to read the james16 thread. I have been doing that since 4 weeks consistently.
I noticed a big leap forward in your trades around #51349, page 3424, actually a bit earlier. And I have a lot of questions about that. But I guess it?s like you write that certain things have to be understood by studying them on one`s own first.
Great thread, great people, also thank you to Mike, Jarroo and Ghous.
I`ll...
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Shoot me a PM anytime. 
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Jun 9, 2010 12:31pm
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Underachiever
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Quote:
Originally Posted by nasir.khan
Will this range hold or break?
There is some Divg and 150EMA nearby.
Lets see.....

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2H PB entered at the test of PPZ.
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Jun 9, 2010 4:09pm
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Underachiever
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Quote:
Originally Posted by Dan Gilbert
If this doesn't help convince you.... I don't know what to say.
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My internet went out.
Well I would've taken that PB but I am short in this one from a weekly setup. So i'll just wait for my trailing stop to be taken out.
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Jun 10, 2010 1:24am
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Underachiever
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Quote:
Originally Posted by novice198
Hi Nasir,
How do you play your PB entry? Is it the break of PB, or do you wait for retracement or a combination of both. Likewise what is the strategy for BUOB and BEOB entries.
Cheers
Novice198
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I enter at the break especially in lower TF's like 1h and 4h. But I seek for retracments in heigher TF's like Weekly and Daily.
In this case I entered @ the retracement back to the PPZ and yeah its a very risky method of playing PA especially in 1h. But there was not much space if I waited for the break and by the it was more of a location trade rather than a PA trade.
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Jun 10, 2010 1:33am
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Underachiever
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Now we have a BEOB (would've been better if closed below 150EMA) at BRN and retest of a broken TL.
I'll wait for it to break through the 150EMA, then "close" below it and then i'll enter at retest of 416 or 440.
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Jun 10, 2010 6:17am
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Underachiever
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Quote:
Originally Posted by proletary
Hi Nasir, looks like your scenario is materializing. This isn't a classic j16 trade is it? We could call it a "failed PB trade" (due to the bullish PB 4 bars ago). I noticed that after failing those PB generated quite a decent move in the direction where the nose is pointing (most probably due to the broken S/R)
Where do you place your SL in such trades?
Best regards
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Hey Proletary,
The 4H PB you are talking about is not tradable cause of Space above and also the shape is not good ( @ IBFX ).
Although i took a 2H PB and it did not failed. It did hit it's FTA @ 1.1500.
The current setup i am discussing is a valid J16 trade. BEOB's and BUOB's are discussed in this thread.
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Jun 10, 2010 6:31am
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Underachiever
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Price making Lower Lows and Lower Highs.
A hard break would be interesting.
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Jun 10, 2010 6:42am
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Underachiever
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A very strong longterm PPZ,...365EMA, Divg, TL.
PB in 1H.
Lets see hoe it unfolds.
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Jun 10, 2010 6:57am
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Underachiever
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Quote:
Originally Posted by proletary
Yes, I referred to it as PB because shape on my feed looks much better.
Yes I see the BEOB clearly on your chart. Somehow I worked under the misconception that any of those J16 setups are valid only for one bar. Getting back to our example I thought that the BEOB setup lost it's power because of the very strong bounce form the S/R line on the following bar. As a result i dismissed the whole BEOB, and thought you were basing your trade solely on the broken S/R.
Thank you for clearing this up for me.
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A setup is valid until price does't break the the other side. It's different for different people, Some people want their PA setups to break early cause are not comfortable with hanging there (like the current setup). Others don't see a problem in it they would wait for the price to hit either the TP or SL.
Quote:
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Getting back to our example I thought that the BEOB setup lost it's power because of the very strong bounce form the S/R line on the following bar. As a result i dismissed the whole BEOB, and thought you were basing your trade solely on the broken S/R.
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You'r saying it lost it's power
and i think it's gathering some momentum / storing some power for a hard break down (looking at the space below).
See it's different for different people and there is no problem in it.
P.S that 150ema is making things tricky here. lol
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Jun 10, 2010 7:58am
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Underachiever
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Quote:
Originally Posted by proletary
That I didn't see. Thanks for the hint. I went through a lot of charts recently, trained my eye to spot those PB (easy) and BEOB/BUOB making it almost automatic. The other day I noticed that the first thing I do when opening any chart, is to scan it for a PB, lol! I think it's time to broaden my focus. 
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I would recommend to practice PB's and BUOBs,BEOBs first, get good at them and then move to other ones like IB's.
Just keeping it simple you know. 
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Jun 10, 2010 8:03am
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Underachiever
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Quote:
Originally Posted by proletary
The proximity of the EMA makes the S/R stronger, is that what you mean?
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Yes and
scroll back your charts a little to see how price reacts near 150ema and 365ema.
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Jun 10, 2010 9:10am
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Underachiever
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Quote:
Originally Posted by Pinbar
Nasir
Hope this really makes a hard break for you.
Looking at the weekly, we can see the PB off the PPZ area at 1.1425.
Is this also what is holding it up.
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That bar is kind of an indecision bar to me( shape and location) ( or closer to a bearish IPB ) and it does't have to do much with our 4H beob (its low is causing problems though).
in my first post about this setup i said i wanted it to "close" below that 150EMA which it did't yet. You see close is very important in terms of "price making a decision" about the direction.
Every time it goes near 150 it jumps back up . So a strong close below that would be pretty decisive here. IMO
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Jun 10, 2010 9:38am
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Underachiever
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Quote:
Originally Posted by Pinbar
Thanks Nasir
This gives me more choices now when I see a PA setup and I now know to watch where the close of the bar is more closely.
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Not every time but It will help especially in situation like this where we are dealing with a tight range.
So your PA bar's close should be sticking out if the range. ( which is not the case with UChf and you can see the effect)
If that 4H Beob had closed below that MA we would've been sitting somewhere near 1.1270. lol
EJ-4H
That's not a tradable PB.
But a BUOB like that (see chart) at the retest of TL and BRN would be interesting.
Ok gotta go.
See ya later.
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Last edited by nasir.khan, Jun 10, 2010 9:59am
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