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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

  • #11,581
  • Jul 10, 2008 5:35pm Jul 10, 2008 5:35pm
make up your mind!!!!!

second pic is the formation/PA that I thought looked good. Triangle resistance (208.82) -> support with a test via a pin.
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Hindsight is 20/20
  • #11,582
  • Jul 10, 2008 5:57pm Jul 10, 2008 5:57pm
[quote=jarroo;2102773]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.



ya, i saw your usdjpy post earlier and the ppz makes a lot of sense and the areas you indicated as s/r. my questions relates to the specifics of creating those regions. perhaps i don't need to be this technical. is there confluence created by a cluster of fib lines that are close to each other (e.g. 183.27, 183.32, and let's say 183.35) or do i need to have confluence of fib points w/in a pip or 2 only? same w/ ppz -- earlier supported price at 183.24 and later resistance at 183.37 ... ppz? (these are just plucked from air as my question relates generally to any chart pattern, currency, etc.)

thanks for your help ... p.s. are you still riding the usdjpy long?
"Believe nothing you hear and half of what you see." Proverb
  • #11,583
  • Jul 10, 2008 6:03pm Jul 10, 2008 6:03pm
Inside 4 bar on GBPJPY.


Quoting cosgrove
make up your mind!!!!!

second pic is the formation/PA that I thought looked good. Triangle resistance (208.82) -> support with a test via a pin.
Attached Image (click to enlarge)
Click to Enlarge Name: i4b.gif Size: 19 KB
  • #11,584
  • Edited 6:12pm Jul 10, 2008 6:11pm | Edited 6:12pm
[quote=Flem26;2103036]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.

my chart doesn't show the IB you are looking at, but i did notice this PB formation yesterday which does show up on yours ...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 18 KB
"Believe nothing you hear and half of what you see." Proverb
  • #11,585
  • Edited 8:34pm Jul 10, 2008 6:34pm | Edited 8:34pm
[quote=fxgrinder;2103235]
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.



ya, i saw your usdjpy post earlier and the ppz makes a lot of sense and the areas you indicated as s/r. my questions relates to the specifics of creating those regions. perhaps i don't need to be this technical. is there confluence created by a cluster of fib lines that are close to each other (e.g. 183.27, 183.32, and let's say 183.35) or do i need to have confluence of fib points w/in a pip or 2 only? same w/ ppz -- earlier supported price at 183.24 and later resistance at 183.37 ... ppz? (these are just plucked from air as my question relates generally to any chart pattern, currency, etc.)

thanks for your help ... p.s. are you still riding the usdjpy long?
As Mr. Trend had mentioned, you want to zoom out and look for areas that Price supported and resisted on the Daily, Weekly and Monthly. The areas do not have to be perfect to the pip.

These are "Areas" or PP-"ZONES". That's why you may read " ...PPZ at the 108.00ish area." The "ish" area may be 10 to 40 pip. When Price Action occurs within and/or off these areas, the move can be powerful.

Yes, I'm still in the Usd/Jpy long trade. I been posting the trade in as real time as I can so that it's easy to follow. I, like many others, like seeing potential PA set-ups when they occur, not after the fact.

My stop loss has not changed since moving it from below the PBs. Still just below the PPZ at 105.70. Dark Orange lines are my entries.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #11,586
  • Jul 10, 2008 6:42pm Jul 10, 2008 6:42pm
Quoting ezz
jaro0 i really like ur template can u save it and p0st it?
Thanks
Sure, it's just Price.
Attached File(s)
File Type: tpl Price.tpl   < 1 KB | 858 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #11,587
  • Jul 10, 2008 7:02pm Jul 10, 2008 7:02pm
[quote=fxgrinder;2103235]
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.



ya, i saw your usdjpy post earlier and the ppz makes a lot of sense and the areas you indicated as s/r. my questions relates to the specifics of creating those regions. perhaps i don't need to be this technical. is there confluence created by a cluster of fib lines that are close to each other (e.g. 183.27, 183.32, and let's say 183.35) or do i need to have confluence of fib points w/in a pip or 2 only? same w/ ppz -- earlier supported price at 183.24 and later resistance at 183.37 ... ppz? (these are just plucked from air as my question relates generally to any chart pattern, currency, etc.)

thanks for your help ... p.s. are you still riding the usdjpy long?
If I may,

I think I know what you're getting at. If you entered a trade based on a 1 hour chart and your s/l is around 20-30 pips, the 10 pip difference in confluence might be a bit too much. On the other hand if your trade was based on the daily chart with a s/l of 80-100 pips, the 10 pip difference in confluence might be appropriate. Hope this helps.
  • #11,588
  • Jul 10, 2008 8:19pm Jul 10, 2008 8:19pm
Quoting fxprocessor
Inside 4 bar on GBPJPY.
Not a very typical 4IB pattern !!!!
Find an Edge. Only way to succeed in this business.
  • #11,589
  • Jul 10, 2008 8:28pm Jul 10, 2008 8:28pm
Quoting jarroo
Yellow lines are my entries.
Those are totally orange =P
Hindsight is 20/20
  • #11,590
  • Jul 10, 2008 8:33pm Jul 10, 2008 8:33pm
Quoting cosgrove
Those are totally orange =P
Your right, Dark Orange.
Indicators show the past. Price Action "Indicates" the future.
  • #11,591
  • Edited 5:33am Jul 11, 2008 5:11am | Edited 5:33am
Here is the description of an I4B from a senior member of the James16 Private Forum.

"An IB = an inside bar, and an I4B = An inside 4 bar. So we have an I4B when we have an IB that is smaller
then the previous 3 bars in range"

Yesterdays bar met that criteria, take a look at my chart again :-)

cheers

FXP

Quoting jattputt
Not a very typical 4IB pattern !!!!
  • #11,592
  • Jul 11, 2008 5:28am Jul 11, 2008 5:28am
UJ hit SL @106.96...

seems like107 is broken!!!

sonic
  • #11,593
  • Jul 11, 2008 5:47am Jul 11, 2008 5:47am
I'm sure this has been posted somewhere down the line, but if not, here's my opinion about IBs. (Since these have been so popular everywhere lately )

In a PA context IBs are supposed to represent indecision. And to me(read: personal opinion follows), not just any, but obviously indecision at a spot, where THE decision actually has some sort of conclusion and followup.
Say we're forming an IB that is pierced by a PPZ. Or just formed next to a BEOB or PB, like we had in some cases.

Or any other spot where a break of the IB could also be a squeezout, breakdown, etc pp.

Looking at various sideway weeks, you're not going to lack finding IBs. But imho finding those that have a kind of "meaning" to them is what makes a good trade out of it.
Simply being "lucky" and allowing them to run when they run is of course also a viable option, but you must always keep in mind that your wins need to outpace your losses, either by likelyhood (win%) or return(high r/r ratio).
Trust price. Know yourself.
  • #11,594
  • Jul 11, 2008 10:41am Jul 11, 2008 10:41am
Just wanted to give ya'll a heads up on the EUR/JPY

A nice looking PB about to close at 12pm Eastern, about 20mins.

It's on the 4hrs, and ranging up. Has a little room until it reaches that top resistance.

Thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: euraudpin.gif Size: 15 KB
  • #11,595
  • Jul 11, 2008 11:26am Jul 11, 2008 11:26am
[quote=saint_berzer;2104967]Just wanted to give ya'll a heads up on the EUR/JPY

A nice looking PB about to close at 12pm Eastern, about 20mins.

It's on the 4hrs, and ranging up. Has a little room until it reaches that top resistance.

Thoughts?

i am short so maybe i am a bit biased, but look at the 4H chart, this shows a reversal
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.gif Size: 12 KB
  • #11,596
  • Jul 11, 2008 11:32am Jul 11, 2008 11:32am
Hope someone made pips on that cable inside bar. I was too tired to get up this morning when it broke and too chicken to place a pending order.
"Don't trade to trade . . . trade to win." - James16
  • #11,597
  • Jul 11, 2008 11:36am Jul 11, 2008 11:36am
Quoting saint_berzer
Just wanted to give ya'll a heads up on the EUR/JPY

A nice looking PB about to close at 12pm Eastern, about 20mins.

It's on the 4hrs, and ranging up. Has a little room until it reaches that top resistance.

Thoughts?

Attachment
PA is all about where it's at. You've got a BEOB at the top of resistance, which means I wouldn't trade that pin...
Mr. Trend
  • #11,598
  • Jul 11, 2008 11:54am Jul 11, 2008 11:54am
Quoting SeekingLight
I'm sure this has been posted somewhere down the line, but if not, here's my opinion about IBs. (Since these have been so popular everywhere lately )
Good post Seeking.
Just like all PA, I believe the location is the most important part. Not just the actual PA formation.
You can find Inside bars and Pin bars all the time. But if price has been going sideways and/or there's lots of traffic around, the PA setup is not as significant.
I think for most people new to PA, this point is very crucial to understand.

Tom
  • #11,599
  • Jul 11, 2008 12:55pm Jul 11, 2008 12:55pm
Quoting moneybags
Good post Seeking.
Just like all PA, I believe the location is the most important part. Not just the actual PA formation.
You can find Inside bars and Pin bars all the time. But if price has been going sideways and/or there's lots of traffic around, the PA setup is not as significant.
I think for most people new to PA, this point is very crucial to understand.

Tom
Well said money. Do you mind if I steal your post?
Indicators show the past. Price Action "Indicates" the future.
  • #11,600
  • Jul 11, 2008 1:12pm Jul 11, 2008 1:12pm
Quoting jarroo
Well said money. Do you mind if I steal your post?
Steal away Jim.
We need to spread the word.
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