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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

  • #8,421
  • Dec 28, 2007 12:37pm Dec 28, 2007 12:37pm
Before he answers... let me say my guess... break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then add to SHORT...

Quoting raczekfx
This is another short trade I took last night and was really happy when I checked charts a couple of hours ago...
Initial entry was manual, aditional entry was pre-set order..
  • #8,422
  • Dec 28, 2007 12:40pm Dec 28, 2007 12:40pm
Yes, no doubt! Its all good mate
  • #8,423
  • Dec 28, 2007 12:45pm Dec 28, 2007 12:45pm
Quoting Tiki Trader
Before he answers... let me say my guess... break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then add to SHORT...
That's exactly what I did....
  • #8,424
  • Dec 28, 2007 12:49pm Dec 28, 2007 12:49pm
Then I have learned more today !!!! A good day... !! Let's see how long it takes me to do it too... not as easy...


Quoting raczekfx
That's exactly what I did....
  • #8,425
  • Dec 28, 2007 12:58pm Dec 28, 2007 12:58pm
But there is a BEOB there... this has caught my attention because it makes me think about my LONG GBP/USD trade.... which now has a BEOB on 4 hr too... I can get out now at BE, or let it retrace hopefully a bit and get out with a little proft.... except it already did retrace... or do I leave it and hope it is just some retrace / correction, and we go back up to my target at 2.0040....??

Have we broken down from the trend line, retested the trend line... and now down we go...???

Why couldn't it have just finished the last 20 pips and hit my target ??? !!!

Quoting belekas
Can you tell us how did you play this trade you took raczekfx? i dont see PB or DBHLC, how did you took this trade? explain a little please
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  • #8,426
  • Dec 28, 2007 1:39pm Dec 28, 2007 1:39pm
Quoting raczekfx
That's exactly what I did....
wait. the first entry is possible to see the retrace. but the second you put the order when price was bellow the resistance (so the retrace happened in the same bar) or when price was above and then a breakout?

i will send a private message to you to ask something.

thanks and sorry for this terrible english.
  • #8,427
  • Dec 28, 2007 1:39pm Dec 28, 2007 1:39pm
E/J is getting tighter…. Which way is it going to break? Judging by the behavior of other jpy crosses, I’d risk and say we’d break lower ... in January.….
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  • #8,428
  • Dec 28, 2007 1:41pm Dec 28, 2007 1:41pm
Quoting giraia_br
wait. the first entry is possible to see the retrace. but the second you put the order when price was bellow the resistance (so the retrace happened in the same bar) or when price was above and then a breakout?

i will send a private message to you to ask something.

thanks and sorry for this terrible english.
second entry was actually a breakout trade. hope this chart below helps.
Attached Image
  • #8,429
  • Edited 9:18pm Dec 28, 2007 6:36pm | Edited 9:18pm
Have I truly missed this all this time...?? Picked a random pair...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then ...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then ...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz...

Now... retrace to the orange line...??????????????

This just has never really clicked with me.... until today...!!! A revalation...!!!!!!

I really must be dense............ not to have seen this all along...

Quoting Tiki Trader
Before he answers... let me say my guess... break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then add to SHORT...
Attached Image (click to enlarge)
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  • #8,430
  • Dec 28, 2007 7:52pm Dec 28, 2007 7:52pm
Quoting Tiki Trader
Have I truly missed this all this time...??
....
This just as never really clicked with me.... until today...!!! A revalation...!!!!!!

...
I was told by someone who met and talked to several 'market wizards', that this is one of the way how they got wealthy....
  • #8,431
  • Dec 28, 2007 8:03pm Dec 28, 2007 8:03pm
So now.... here is the next question from a dense guy... after retracing to a PPZ, how would you happen to know if price will make the next bounce... or will it continue in the retrace direction as a new trend/direction, or continue retracing still even to the next PPZ... ??? Or are we talking about trend trading where the last leg of the trends pips will be given back...??? because that's when you get stopped out...

If you know what I mean....

Quoting raczekfx
I was told by someone who met and talked to several 'market wizards', that this is one of the way how they got wealthy....
  • #8,432
  • Dec 28, 2007 8:14pm Dec 28, 2007 8:14pm
WOW... and now I make my chart just with green bars... and the PPZ's just POP out at you... !!! And now I have a good idea ( or a better idea ) of target for my GBP/USD Trade !!!!!!!!!!!!!!!!!!

I can't read each candle so well... but now the s/r zones are way more clear !!! Beautiful !!!!
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  • #8,433
  • Dec 28, 2007 8:20pm Dec 28, 2007 8:20pm
Quoting Tiki Trader
WOW... and now I make my chart just with green bars... and the PPZ's just POP out at you... !!! And now I have a good idea ( or a better idea ) of target for my GBP/USD Trade !!!!!!!!!!!!!!!!!!

I can't read each candle so well... but now the s/r zones are way more clear !!! Beautiful !!!!
Quote
And now I have a good idea ( or a better idea ) of target for my GBP/USD Trade !!!!!!!!!!!!!!!!!!

OR not..........????
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  • #8,434
  • Dec 28, 2007 8:28pm Dec 28, 2007 8:28pm
Quoting Tiki Trader
So now.... here is the next question from a dense guy... after retracing to a PPZ, how would you happen to know if price will make the next bounce... or will it continue in the retrace direction as a new trend/direction, or continue retracing still even to the next PPZ... ???..
That, I don't know... suppose I knew, I would never come to visit FF...

... but If you look at monthly, weekly and daily, you should kind of get the feel of direction... so unless proven wrong .... go with the flow...
... and if I asked myself too many 'ifs' questions, I'd probably never have guts to pull a trigger
  • #8,435
  • Dec 28, 2007 8:29pm Dec 28, 2007 8:29pm
Quoting Tiki Trader
WOW...

I can't read each candle so well... but now the s/r zones are way more clear !!! Beautiful !!!!
Isn't it...

The less crap on your charts the merrier..
Enjoy the weekend!
  • #8,436
  • Dec 28, 2007 8:50pm Dec 28, 2007 8:50pm
Quoting Tiki Trader
Have I truly missed this all this time...?? Picked a random pair...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then ...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz... then ...

break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz...

Now... retrace to the orange line...??????????????

This just as never really clicked with me.... until today...!!! A revalation...!!!!!!

I really must be dense............ not to have seen this all along...
Hi Could you explain what is PPZ ? Thankyou.
  • #8,437
  • Dec 28, 2007 8:54pm Dec 28, 2007 8:54pm
Price Pivot Zone... a line or zone where price hits support or resistance... and is a good place to look for Price Action...

Quoting nico28
Hi Could you explain what is PPZ ? Thankyou.
  • #8,438
  • Dec 28, 2007 9:21pm Dec 28, 2007 9:21pm
Hi to everybody & Good job to those who contribute in this Thread espeacially to James.. Hello to you , James.

Im very new to fx world about couple of months.

Im a fan to this lovely thread; but still new in this fx thing. And only able to find few of James technique. Most of them i still cant find it and not understand all the post in this thread.Hope that there is a complete technique compile by someone from this discussion. if there so, may i ask your favour for newbie like me.

All the asking hopefully wont make anybody feel troublesome.

p.s sorry for my broken Englishhttp://www.forexfactory.com/images/icons/icon9.gif
  • #8,439
  • Dec 28, 2007 10:28pm Dec 28, 2007 10:28pm
Quoting mrozibakar
Hi to everybody & Good job to those who contribute in this Thread espeacially to James.. Hello to you , James.

Im very new to fx world about couple of months.

Im a fan to this lovely thread; but still new in this fx thing. And only able to find few of James technique. Most of them i still cant find it and not understand all the post in this thread.Hope that there is a complete technique compile by someone from this discussion. if there so, may i ask your favour for newbie like me.

All the asking hopefully wont make anybody feel troublesome.

p.s sorry for my broken Englishhttp://www.forexfactory.com/images/icons/icon9.gif
Hey mrozibakar,

Check this link out http://www.forexfactory.com/showthre...=2331&page=370

Post #5541

Those two files are just about pin bar.
Hope this will help.

Qiu
  • #8,440
  • Edited 2:08am Dec 29, 2007 1:55am | Edited 2:08am
Hi guys,

Did anybody have thought of using some kind of filter to avoid false pin bar? Or something similar already been discussed in this thread?

I think res/supp is a little subjective on low timeframe ( 1h, 4h ).

Thanks.

Qiu
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