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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

  • #10,701
  • May 9, 2008 3:31am May 9, 2008 3:31am
Quoting Thexder
What was the reason the GJ 4hour pin wasn't so good afterall, because of the preceeding volatile drop instead of a more stable approach to the setup?
I'm not sure. If that set up presented itself again I would take it again.
GJ is a crazy pair. No one knows where Price will go.
Indicators show the past. Price Action "Indicates" the future.
  • #10,702
  • May 9, 2008 4:20am May 9, 2008 4:20am
Quoting jarroo
I'm not sure. If that set up presented itself again I would take it again.
GJ is a crazy pair. No one knows where Price will go.
And that's why I love it...
  • #10,703
  • May 9, 2008 7:15am May 9, 2008 7:15am
Quoting HipsterPipster
I have to admit, I took the gj pin. It actually looked good to me on Alpari. But....I learned that it is safer to let price come to you nice and softly in its own natural market breathing, not when it is hyperventilating.http://www.james16group.us/forums/im...lies/smile.gif Its easier to pick cherries when they are motionless on the branch then to run around and catch them when falling.

... Originally posted in the PF on May 5th.....

have a good weekend everyone!


Quoting raczekfx
Looking for g/j to slow down around 205.60/80 (if we don't break 209) and retest 203.... and with a bit of luck maybe 201..
.
Quoting raczekfx
So far so good. G/j slowed down at 205.50 or bounced off it and is now testing 203. Will it break daily ppz and says hello 201....
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  • #10,704
  • May 9, 2008 9:08am May 9, 2008 9:08am
Here is my take on GJ. First, yesterday, it penetrated our bottom ppz. This should have been one of our red flags. But, most importantly for me is when I look at USD/JPY and GBP/USD daily. They both "broke out" of their temporary formations. USD/JPY broke its ascending TL and GBP/USD broke out of its consolidation pattern.
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  • #10,705
  • May 9, 2008 9:16am May 9, 2008 9:16am
sorry to interrupt, now that you mentioned it, what is a "ppz"? i've gone through all jim's posts and didn't seem to find a reference to it.
  • #10,706
  • May 9, 2008 9:37am May 9, 2008 9:37am
Quoting tenantro
sorry to interrupt, now that you mentioned it, what is a "ppz"? i've gone through all jim's posts and didn't seem to find a reference to it.
Price Pivot Zone: We put these in by hand verses other types of pivots that are mathematically calculated.
  • #10,707
  • May 9, 2008 9:43am May 9, 2008 9:43am
Got it now, thank you.
  • #10,708
  • May 9, 2008 12:20pm May 9, 2008 12:20pm
two consecutive matching lows
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  • #10,709
  • May 9, 2008 12:28pm May 9, 2008 12:28pm
PIN bar forming on EU.
Does this mean Monday will be a bullish day for the EU?
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  • #10,710
  • May 9, 2008 12:39pm May 9, 2008 12:39pm
GJ-Daily
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  • #10,711
  • May 9, 2008 1:34pm May 9, 2008 1:34pm
Quoting HipsterPipster
Price Pivot Zone: We put these in by hand verses other types of pivots that are mathematically calculated.
How do you define those areas?
Patience + Humility + Study = Success
  • #10,712
  • May 9, 2008 1:37pm May 9, 2008 1:37pm
Quoting Peterinforex
PIN bar forming on EU.
Does this mean Monday will be a bullish day for the EU?
The pin bar formed yesterday off of an area of support and today is closing as the confirmation bar to the pin. There are no guarantees as the daily bar isn't closed yet, but it most likely will close as a confirmation bar. That along with the bullish weekly bar coming up is telling me that early next week should be bullish.
I dream, therefore I become.
  • #10,713
  • May 9, 2008 1:44pm May 9, 2008 1:44pm
yes. I think so too .
Quoting mike w
The pin bar formed yesterday off of an area of support and today is closing as the confirmation bar to the pin. There are no guarantees as the daily bar isn't closed yet, but it most likely will close as a confirmation bar. That along with the bullish weekly bar coming up is telling me that early next week should be bullish.
  • #10,714
  • May 9, 2008 1:55pm May 9, 2008 1:55pm
Quoting DutchTrader
How do you define those areas?
It's just areas where price has shown to react before.
S/R in essence, from the chart(no idea where else one would get it from - all formula based stuff is arbitrary and random imho).

There are tons and tons and TONS of examples in this thread(sometimes labeled s/r, sometimes PPZ and once I think I called stuff like it "building blocks") and in the J16 site and videos.
Trust price. Know yourself.
  • #10,715
  • May 9, 2008 2:23pm May 9, 2008 2:23pm
Quoting SeekingLight
It's just areas where price has shown to react before.
S/R in essence, from the chart(no idea where else one would get it from - all formula based stuff is arbitrary and random imho).

There are tons and tons and TONS of examples in this thread(sometimes labeled s/r, sometimes PPZ and once I think I called stuff like it "building blocks") and in the J16 site and videos.
Gotcha. I figured as much, but I wasn't sure. Just working my way through this behemoth so I wasn't sure if I misinterpreted anything. Thanks bro.
Patience + Humility + Study = Success
  • #10,716
  • May 10, 2008 10:13pm May 10, 2008 10:13pm
Great thread james16! Only took me a week or 4 to read it all

It has however improved my trading 100 fold. I'm now going through it again for a second time

Highly recommended for anyone only reading the end of this thread to go back to the start and READ IT!!

There's a great deal of additional info out there for PA.

This site is a good read for newbies - not affiliated or commercial promo'ing

Search on Google yields tons of additional info too

Thanks again Jim and thanks to all those who have constructively contributed

Cheers all
  • #10,717
  • May 11, 2008 2:52am May 11, 2008 2:52am
Hi all
This forum and participants are great motivators and pros. It all gives general basic info about price actions and trading styles but i feel its totally not enough. After reading a great part of this forum, I got enough info about what price action actually is but not enough in-depth information on how to recognize, apply, and further explore the possibilities.
It looks like that the PF should complete this missing key of the puzzle, and so I came to a conclusion that signing up to the PF is the next logical step after understanding the benefits and the logic behind price action and some other key issues discussed in the forum.

a brief introduction of Mua
I'm kinda new trader (unfortunately no very successful yet).
went through a 6 months course which apparently was a waste.
as most of the newbies I started with demo but than quickly (maybe to quick) proceeded to real forex account and and quickly started gaining loses.
All along I kept on reading new material on the web and explored analysis technics and theories. And soon I have found that I'm missing something.
and so, here I am. Hoping that the missing lego block is price action, maybe some more discipline, patient is all I got.

Thank you all and see you in the PF.

Isaac A.

Admin (AT) iStartup . co . il
  • #10,718
  • May 11, 2008 9:57am May 11, 2008 9:57am
Quoting mike w
The pin bar formed yesterday off of an area of support and today is closing as the confirmation bar to the pin. There are no guarantees as the daily bar isn't closed yet, but it most likely will close as a confirmation bar. That along with the bullish weekly bar coming up is telling me that early next week should be bullish.

Correct me if I'm wrong. If I understand the methods used in this thread, we have long confirmation following Thursday pin bar on the Euro. We should look for a retracement of friday's bar and go long around 1.5440 with a stop under the pin bar at 1.5270. Comments appreciated.
  • #10,719
  • May 11, 2008 1:11pm May 11, 2008 1:11pm
Quoting joebryce
Correct me if I'm wrong. If I understand the methods used in this thread, we have long confirmation following Thursday pin bar on the Euro. We should look for a retracement of friday's bar and go long around 1.5440 with a stop under the pin bar at 1.5270. Comments appreciated.


Joe,
It really depends on your style & application of the methods you see here.
you could play it the way you mention or some are allready in at the break of thusdays bar & some, I bet, are in from a retrace of the pin @ 1.54 & then some again will have a few positions @ retrace & break, & some may have played a touch of 1.53 which is support from 3/11/ 08.
I hope I haven't confused anyone here. cause my intention is just to say that there are many ways to apply this matterial. It really comes down to practise & demo to find what works for you. To become a consistantly successfull trader one has to find what works & what is comfortable for the individual. I am good at what I do but that doesn't mean I could copy the style of another trader & be as good.
Just keep trying & practising & keeping notes about what works for you & one day it will click.
cheers Jeff
  • #10,720
  • May 11, 2008 2:14pm May 11, 2008 2:14pm
rustyjeff,

You have not confused anything. I am at that point where I see the many possibilities you mention. Just not enough experience to nail down what works best for me yet. I have been at this with real money for 3 months. Have won some and lost a few more. I am forcing myself to step back and focus on taking trades off the daily chart. The large stops are a little more than I am used too. Thanks for commenting.
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