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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

  • #11,561
  • Jul 9, 2008 4:13pm Jul 9, 2008 4:13pm
Quoting mbqb11
yep that is a pinbar Never traded this pair though
thank you for confirmation, the three candles before are also interesting.
the spread is enormous, but iŽll give it a try

have a nice trading.
  • #11,562
  • Jul 9, 2008 6:08pm Jul 9, 2008 6:08pm
Quoting SeekingLight
Just wanted to post t...

Chart:
How are blue lines drawn and what do they signify?
100% of traders are losers. Just that some win more than they lose!
  • #11,563
  • Edited 1:40am Jul 10, 2008 1:14am | Edited 1:40am
Hello Mr. demark,
Those are the areas of S/R he speaks about in his post. They are areas where support becomes resistance and resistance becomes support. AKA the PPZ, this pivot price zone is just that as opposed to a pivot point. The PPZ is very much central in J16 trading. For the blue lines in MT4, go to Insert, Shapes, Rectangles, and just drag it to the shape you want.
Later
Roy
  • #11,564
  • Jul 10, 2008 1:23am Jul 10, 2008 1:23am
we learnt confluence is important in price action. can i get some opinions on how tight the confluence should be? multiple s/r factors found w/in 2 pips? 3 pips? 10 pips? is it more of a range?

also, after how much (or how long) would you consider s/r having been breached creating momentum. let's say we're long, heading into some confluence of resistance ... at what point can i feel confident the resistance is now support?

thank you in advance for any help/insight.
"Believe nothing you hear and half of what you see." Proverb
  • #11,565
  • Jul 10, 2008 2:50am Jul 10, 2008 2:50am
Quoting fxgrinder
we learnt confluence is important in price action. can i get some opinions on how tight the confluence should be? multiple s/r factors found w/in 2 pips? 3 pips? 10 pips? is it more of a range?
Compress your chart and just look for the areas that get respected three or more times. Those are reliable. You will get overshoots... view those areas as turning points rather than strict, to the pip, areas.

Quoting fxgrinder
...at what point can i feel confident the resistance is now support?
When price moves past resistance, pullsback, and bounces off of that previous area.
Mr. Trend
  • #11,566
  • Jul 10, 2008 3:17am Jul 10, 2008 3:17am
GbpUsd weekly chart is showing a descending triangle. The descending triangle is continuation chart pattern in a downtrend in which the support line is broken and the downtrend goes on. In this case the GU is in an up trend. The price broke out of it and pulled back to the breakout level. If this week closes with a pin bar, it can be a possible trade. But still there are the PPZs 2.0000 and the 1.9630. The price may get stucked between them.
Location: Break out of the triangle and pulled back to the breakout level
Confluences: TL and PPZ 1.9630
Higher time frames PA: pin bars on monthly chart to PPZ 1.9365
Trend direction: It is a trend continuation for the uptrend.
What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #11,567
  • Jul 10, 2008 9:11am Jul 10, 2008 9:11am
Quoting eroyh
Hello Mr. demark,
Those are the areas of S/R he speaks about in his post. They are areas where support becomes resistance and resistance becomes support. AKA the PPZ, this pivot price zone is just that as opposed to a pivot point. The PPZ is very much central in J16 trading. For the blue lines in MT4, go to Insert, Shapes, Rectangles, and just drag it to the shape you want.
Later
Roy
oh. thanks roy. i thought it was something else. It's funny how the same thing gets different names
100% of traders are losers. Just that some win more than they lose!
  • #11,568
  • Jul 10, 2008 9:52am Jul 10, 2008 9:52am
Quoting eroyh
Hello Mr. demark,
Those are the areas of S/R he speaks about in his post. They are areas where support becomes resistance and resistance becomes support. AKA the PPZ, this pivot price zone is just that as opposed to a pivot point. The PPZ is very much central in J16 trading. For the blue lines in MT4, go to Insert, Shapes, Rectangles, and just drag it to the shape you want.
Later
Roy
Yes, exactly. Thanks for helping out while I was "out"

You can also customize your toolbar to include a quick-icon for the rectangle by right clicking the current icons and choosing customize.
Trust price. Know yourself.
  • #11,569
  • Jul 10, 2008 11:18am Jul 10, 2008 11:18am
a PB would be handy ....
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 18 KB
"Believe nothing you hear and half of what you see." Proverb
  • #11,570
  • Jul 10, 2008 12:02pm Jul 10, 2008 12:02pm
Quoting SeekingLight
Yes, exactly. Thanks for helping out while I was "out"

You can also customize your toolbar to include a quick-icon for the rectangle by right clicking the current icons and choosing customize.
yeah. I just did. Thank you. Also Seeking, what are your views on USDCAD. I " think" it bounced off a PPZ. It scrwed me in the process
100% of traders are losers. Just that some win more than they lose!
  • #11,571
  • Jul 10, 2008 12:06pm Jul 10, 2008 12:06pm
usd cad 1hr
Attached Image (click to enlarge)
Click to Enlarge Name: pin.GIF Size: 64 KB
  • #11,572
  • Jul 10, 2008 12:12pm Jul 10, 2008 12:12pm
Quoting Mr demark
yeah. I just did. Thank you. Also Seeking, what are your views on USDCAD. I " think" it bounced off a PPZ. It scrwed me in the process
Stuck between 1.03 and 0.98. Preferably don't trade the middle, but the extremes(i.e. the borders of the range only).
In case of breakout, look for a setup.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_080710_weekly.gif Size: 19 KB
Trust price. Know yourself.
  • #11,573
  • Jul 10, 2008 12:22pm Jul 10, 2008 12:22pm
Quoting via-forex
GbpUsd weekly chart is showing a descending triangle. The descending triangle is continuation chart pattern in a downtrend in which the support line is broken and the downtrend goes on. In this case the GU is in an up trend. The price broke out of it and pulled back to the breakout level. If this week closes with a pin bar, it can be a possible trade. But still there are the PPZs 2.0000 and the 1.9630. The price may get stucked between them.
Location: Break out of the triangle and pulled back to the breakout level
Confluences: TL and PPZ 1.9630
Higher time frames PA: pin bars on monthly chart to PPZ 1.9365
Trend direction: It is a trend continuation for the uptrend.
What do you think?
i like this also iv had it on my radars!!
Yesterdays candle was a bullish engulfing pattern still needing confirmation.what i like right now is the dblhc on the 4h chart.could be a good entry??
PATIENCE... DISCIPLINE
  • #11,574
  • Edited 2:10pm Jul 10, 2008 12:27pm | Edited 2:10pm
Quoting SeekingLight
Stuck between 1.03 and 0.98. Preferably don't trade the middle, but the extremes(i.e. the borders of the range only).
In case of breakout, look for a setup.
wow, a weekly chart. thnk you.
Sometimes i feel disappointed with the number of good trading opportunity presented in forex. Most of which happens when i'm asleep.

I'm considering trading some ETF's or something with Price action trading. (demo first)
100% of traders are losers. Just that some win more than they lose!
  • #11,575
  • Jul 10, 2008 1:02pm Jul 10, 2008 1:02pm
Quoting fxgrinder
we learnt confluence is important in price action. can i get some opinions on how tight the confluence should be? multiple s/r factors found w/in 2 pips? 3 pips? 10 pips? is it more of a range?

also, after how much (or how long) would you consider s/r having been breached creating momentum. let's say we're long, heading into some confluence of resistance ... at what point can i feel confident the resistance is now support?

thank you in advance for any help/insight.
Not sure what your asking, but the current trade I am in on the Usd/Jpy (if you have been following it) is worth a look on confluence.

This what I saw when I took the trade: Price Action (PBs and IB), PZZ and Trendlines all lining up nicely for confluence to support a long trade.

http://www.forexfactory.com/showpost...ostcount=11436
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #11,576
  • Jul 10, 2008 1:14pm Jul 10, 2008 1:14pm
jaro0 i really like ur template can u save it and p0st it?
Thanks
  • #11,577
  • Jul 10, 2008 1:30pm Jul 10, 2008 1:30pm
Quoting jarroo
Not sure what your asking, but the current trade I am in on the Usd/Jpy (if you have been following it) is worth a look on confluence.

This what I saw when I took the trade: Price Action (PBs and IB), PZZ and Trendlines all lining up nicely for confluence to support a long trade.

http://www.forexfactory.com/showpost...ostcount=11436
thank you jarroo for showing your charts and explaining. I learn a lot from this thread. I added "no-trading zones" spoted by eye to my portfolio.
  • #11,578
  • Jul 10, 2008 3:18pm Jul 10, 2008 3:18pm
saw this Pb today and got in long on a retracement.... sure the spread is unbelievable but :
1) i went long only a couple of units so my loss would only be a couple of cents;
2) looking the pinbar i think it is at some end of wave not sure if 5 or 3 ...

...again it's a shame for the spread 'cause looking at it as a crude-naked chart i think it's a tradeble pin with some nice pips to go (i hope).
Attached Image (click to enlarge)
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  • #11,579
  • Jul 10, 2008 3:25pm Jul 10, 2008 3:25pm
Thinking of playing this inside bar on cable. Hoping it forms one of those inside bars that looks like a pin bar with the close above the open. Last time we got one of those (two weeks ago or so) cable broke to the upside in a nice way. Watching with my sniper rifle in hand . . .
Attached Image (click to enlarge)
Click to Enlarge Name: cable2_chart.gif Size: 14 KB
"Don't trade to trade . . . trade to win." - James16
  • #11,580
  • Jul 10, 2008 5:13pm Jul 10, 2008 5:13pm
Quoting giusepp8
saw this Pb today and got in long on a retracement.... sure the spread is unbelievable but :
1) i went long only a couple of units so my loss would only be a couple of cents;
2) looking the pinbar i think it is at some end of wave not sure if 5 or 3 ...

...again it's a shame for the spread 'cause looking at it as a crude-naked chart i think it's a tradeble pin with some nice pips to go (i hope).
exotics are difficult. there has been some pins weeks ago, which
had not played out. So it might be importend for confirmation of the
development of the price. I wait for yesterdays pin on usd/zar playing out,
and jumped in to early.
Attached Image (click to enlarge)
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