James16 pin bar analysis

  1. Mike and Jim do not agree with each other? On one hand Jim states that “there is ZERO chance to succeed in this business if you can’t trade in a sideways market”, and on the other hand Mike always seeks for space in his trades?
  2. Jim said he is very picky cause he trades with a large account, and a few pips a month cover him. On the other hand I can see him predicting every move of the market like he draws it…that means making a good trade from most situations. I will say that Mike looks a bit more picker from Jim.

ray already answered this one but i wanted to say i agree with him. i think mike is “pickier” buy jim has more experience and probably a better trader. The bottom line here is everybody is going to take the material and trade differently. jim has more confidence in a sideways market but both are top notch excellent traders. mike is extremly helpful even in the public forum he will answer any question you have.

roberto i apologize if i misunderstood you then. you do have to “weed” through the posts to get all the info but it is there. because i belong to pf and am active in the public forum i can see both and honestly there is more activity in the public forum and plenty of views including plenty of realtime analysis. the private forum has all the info in a clear and concise manner.

hey ray thanks for all the input its clear to me that you know j16 well i hope you will continue to contribute here.
thanks, john

Ray, I also would like you to hang with us here when you have time :slight_smile:


After all the discussions let put up some charts and do some trading discussions and learn about price action trading . Here is a daily EURUSD chart. On friday close there is an IB formed. The IB is obviously not an A class setup. If I forced to take this IB, this is my trade plan. Pending order at 1.4263, stop loss at 1.4109, look out for 1.4286 and 1.4300 region. This is how I will approach this IB, but frankly speaking if this is not an IB that really interest me to risk my hard earned money. :slight_smile:

My favourite time frame, the weekly is showing a lousy pinbar on the USDCHF. Anyone spotted that and care to share their opinion on the pinbar? Maybe we can learn along the way. :slight_smile:


There is something I found interesting.
We always seek here for very nice pin bars on swing high or swing low. The problem PBs are rare, but there are much more PBs than we actually see. If I can understand the price action, I can notice that all the DBHLCs and bearish outside bars are actually bearish PBs on higher time frames!!

Last week, there was a good reversal trade which Phill took and I didn’t. That was because his chart showed a very nice PB, and my chart sowed a big mess. It was because my broker uses different time zone tan his broker or something like that. After thinking about it, I have noticed that these bars are just close and open according to certain hours. But the market and the price itself continue to move all the time and it doesn’t depend on shorter or longer time frame units.

After I saw today one of Jim’s videos, it confirmed my thoughts. I have captured a pic from Jim’s video. This chart is daily. You can see that there are two highlighted bars in swing high on the chart. If I would look at that same chart on a time frame of 2 days, those two bars were one really nice bearish pin bar :slight_smile:
Just look at how the price drops down after that swing high. I wouldn’t want to miss that really nice pin bar just because when I look on a smaller TF i looks like just to candles in a reserval pattern.

So if you see DBHLCs or bearish outside bars on swing high they are actually bearish PBs on an higher time frame!!
Maybe some of know this already…In fact I am sure you know that…but it was nice for me to figure that out. There are good opportunities also if there is no PB on the current TF.


ben nice boservation. i noticed that too when i first started j16. you are really beginning to understand price action. once you can see what price is doing and how it fits into your trading plan, then the skys the limit.

ray i agree with you the ib is nothing special :smiley:

i am going to wait for the market to give me something good. later when i do my analysis ill haul a chart up for all to see. i hope everyone is having agreat weekend.

the cadjpy has a decent looking pb but i cant take pics out of my dealbok for some reason but i figured ids show you guys my eurjpy analysis

John, I just want to add that exactly the line of the price itself is on a Pivot Price line where the price flops. So you also have a PB on a PPZ.
Good chance it will drop, hit the 131.50 and reserve (or breakout). That is another PPZ (You can also zoom ito 4H too see it clearly) plus point where some bar lows end plus near your moving average.
By the way, I am using 150EMA and the low wick of last bearish bar in the chart just touched the MA and bounced straight up (my chart looks a bit different from yours…I guess my broker time zone again). Good chance it will happen again on the same level of the bar low (now there is a bar low plus moving average there).
Traffic is really heavy there…maybe we can come up with a 50-70 pip gain from this trade.

OK I must say this stuff gets better from day to day! After I saw all Jim’s videos in a raw I am now going to my charts trying to do it myself and I just feel I know the reason for every move in the price. It’s like there are no surprises, nothing without a reason. I feel good! :slight_smile:


hey guys same analysis as the ej except definatly not a pb. accualy i almost want to post this on phils thread coz i know how he loves this pair :smiley:

anyway it looks good and ill be eying it this week.

ben i love your enthusiasm!!!

the usdjpy looks interesting look how small and “coiled up” that ib is and its hitting a trendline hmmmmm interesting

It would be a PB in a 2 days time frame chart :wink:
But I think it has trouble there where the previous bar highs are. I would like to see how this candle closes.

Thanks! :slight_smile:


Just made some quick 45 pips on daily GBP\JPY chart :smiley:
It is amazing the price reversed where I predicted after I have zoomed into the 4H to spot a micro PPZ and put my TP order a few pips above :slight_smile:
Feels great!

Basically I won’t trade the USD\JPY, EUR\JPY or GBP\JPY at the same cause it’s like doubling your position, as Phil said last week.


In the weekly chart we can see that we are in an uptrend. The price had pulled back in the few last weeks, and now It worth a look to find a entry for a long position IMO. after the pullback, the price is now touching the trend line which is also the 61.8 Fib level. It also bounced from the 150EMA in the weekly chart.

Now If we zoom into the daily chart, we have a bullish pin bar, Iwill give it a B (notice that I am on MT4 demo so if my bars look a bit different it’s because my broker time zone or some thing like that).
The low of that PB is bouncing from a trend line plus 150EMA plus 365 EMA plus PPZ.

So I think it is a good opportunity going long here some time close.
But where will be my entry, SL, TP?
You can see I have highlighted in blue the previous bar highs. I am sure they will make trouble! My prediction for the price is to go up till it reaches those bar highs. Then retrace to the PPZ that will become support, and then continue rising with the main trend.

So I think the best time to enter is after it retraces to the PPZ and start rising. My SL will be 10 pips below the PPZ.I will take my profit at 0.91200 (Sorry I cropped out the price levels in the right in mistake) or at least move my stop to the low of the last bar in the 4H chart to lock profits.

Option number two the current PPZ line 0.8900 will become strong resistance and the price will break down trough the weekly 365EMA :o

[B]Weekly chart:[/B]

[B]Daily chart: [/B]


Hi john, Can you explain where is the pinbar on the EY? I can’t seem to spot it, pls advise. :slight_smile:

Hi ben,

I do not classify the bar on AUD\CAD as a pb. From your chart it looks like a netural bar to me. On my data feed, it is just a bullish bar. Will post my chart later after my dinner. :slight_smile:

The bar that broke the trend line is a doji. So I thought maybe it can be a B or C PB :o

I will wait for your chart.


AUDCAD chart:
The friday close do not show a pinbar on my chart. It is just a normal bullish bar. For a pinbar, the body of the candle must be at the top half and must not have a large body, the bottom wick the longer the better, a pinbar is similar to a dragonfly doji. :slight_smile:

hey guys this is a great post from over at ff by a memebr named storagepro. he gave me permission to reprin it here. this is a regular poster over at the j16 thread and I just thought this post was great and certainly worth reading.

Forex Factory - View Single Post - james16 Chart Thread

I live in Raleigh, NC. People move here from all over the world because of the climate and job market. People visit here on business or for pleasure - and they play golf here. North Carolina is a kind of Mecca for golfers, we have several world class courses here that the public can play.

Last week was my annual golf week. And as usual, I stayed here and played the courses in the area. And as usual I meet a lot of interesting people from all over. I want to tell you about two of them.

The first guy was a professional Bull Rider. He is all of 5 feet 9 inches tall, 145 lbs - and RANKED number 2 in the world. He is an unimpressive looking fellow, but sports a very impressive resume!

I asked how it was he could jump up on 1 ton of muscle and anger, and wrestle it. He said many people ask him that and it makes him laugh. ‘Wrestling’ the bull had nothing to do with what he did because he has absolutely no control over what that animal might, or might not do. He explained that the sport is 100% about balance and reacting to what the animal did at any given moment. Interestingly enough, he even noted that there were ‘rules’ as to what to do and not to do when perched up there in order to have a shot at getting through your 8 seconds.

Three days later at a golf course called “Tobacco Road”, which i highly recommend you play if you are in the area, I met Lillian and her husband. They bought a three day golf package in the area. Being that it was in the middle of the week, I congratulated her on being retired and she said, that it was a partial retirement as she is writing her memoirs, and speaks frequently at events around the country. I’m a curious person, and that lead to a long conversation…

As it turns out, she is the first African American woman to attend Harvard Business School, receiving her degree in 1969. For those who may not know (Youngsters, and people from outside the US), that was a period of time of huge social unrest and upheaval over Vietnam and Race. It was an ugly time. It was not fashionable for a Black person or a woman to attend Harvard at that time - and she is both.

She told me a lot of her experience there, but what caught my attention most was that she said that she was very alone there. She was not invited to a study group. She was rarely spoken to. Professors made it difficult for her to participate in class - and much of your grade is based on class participation. She completed her course of study 100% on her own, and it took tremendous internal strength and perseverance to get it done.

I was going to make a few remarks about how these experiences are similar to learning to trade, but that is entirely too narrow minded.

You hear that only 5% ever make it in this game - but I submit to you that 5% or less really make it in life and achieve what they can be - or live their dream. The vast unwashed masses never achieve their simple dreams, much less going beyond their dreams. And none of them ever even recognize that there are dreams undreamed!

Each of us are handed a set of gifts and abilities, as well as weaknesses. We all live in the world together, faced with the same opportunities to put these things to work for us. None of us has no more control over external forces any more than the Bull rider had over his bull. Yet he is a winner. He gets the same opportunities as everyone else in the arena. We, like him can only strive to maintain balance. And follow a few simple rules we all learned when 5 years old.

Like the minority MBA student at Harvard, we are truly alone in our endeavor, and the will to win comes from inside ourselves. Encouragement certainly helps, but ultimately we are in charge of what goes on in between our own ears. No one else can give you your thinking.

Hope. Is there any? Yes, but remember most people fail in the endeavor. They always have, and always will. Most reading this post will likewise have no success. Welcome to reality. Getting our mind in a state that is conducive to real success is not easy, because you have to admit that what you ‘know’, is wrong - and that is very hard to do. That takes humility and few are those who possess it.

But there is a chance. We can ride the bull and overcome the odds of society. First, others have done it, so you can too. I firmly believe that people have the capacity to change and excel. Second, those that have done it, have chosen to do so. Now, please don’t read that and say “I choose, I choose”, because remember, 95% fail and never really do.

So how is it that the little shrimp road Bulls? How did Lillian go from a family working as subsistence farmers in South Carolina flout convention and society as a whole and make it to Harvard and finish her MBA?

In a word - Commitment. Being committed is much harder than it seems. A Pig and a farmer go to a BBQ. The farmer eats the BBQ, and the Pig is the BBQ. Which one is committed at this BBQ?

Be the Pig.

Do the things that bring success. Staying up late drinking every night is not committed action, unless you’re up for family troubles and liver trouble. Lillian was committed. She lived at Radcliffe because at the time Harvard had no dorms for females. This added a mile walk in the morning and the evening to her day. She was committed - she continued to raise her hand in class, and eventually speak up when a professor ignored her. She was committed - she ignored the incredulous stares and whispering behind her back and forged on. She studied hard and did what was required to be a winner. She had control of Lillian.

The Bull rider was committed. Do you think he family cheered him on? What do you think he heard from them? “You’ll get killed or maimed”. “Are you crazy?” He had a goal and a dream and kept on going - he is considered the best now.

Neither one of these folks let anything stand between themselves or the dream. Most of all they controlled themselves, because it is easy to take the path of least resistance. These two striking individuals have have won in life - big time. They learned that nothing really stands in their way - except for what goes on inside their head - and they learned to shape their thinking to their benefit.

What about you - have you really come to know what you need to in order to join the 5% ?

Are you already in the 5%? Have you learned how to impart that to others? Can you encourage? Can you reach the true pinnacle, and inspire? Does what you say spur people on and help them to change? Do you lift up or pull down? If everyone were like you, would you really like that world?

Sad to say, most of those here who are good traders are no where near able to do this, and 95% of these never will be. Personal arrogance and viewing others as Amhararets stands in their way of achieving personal greatness. Eventually, these people fail in life itself.

Ultimately, we all become a faded memory, and then are forgotten. All that is left is a tombstone, and as much as you would like to, you don’t get to put any final words on it. Others do that for you - or to you.

I had an interesting week. I met some truly great people. And those kinds of people build me up and make me think.

Hi john, Can you explain where is the pinbar on the EY? I can’t seem to spot it, pls advise.

ray i love you man :smiley: your gonna tell me that coz the body was in the middle it is technically not a pb. i guess im being irresponsible posting imposter neutral bars as pbs :wink:

like I tell everyone im new to the j16 material too so if you guys catch me making mistakes in my analysis them im grateful you told me.

btw this trade idea failed as a pb setup but maybe would have made it just as an ib setup. either way i didnt trade it but it stresses the importance of looking for a+ setups only.