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Where can I learn more about Price Action like those in James16 charts? 9 replies

james16 Chart Thread

Quoting giraia_br
i think Mike tak another formations too.

Mike, do you take all traditional candle formations? If no, what formations you take that are not J16 formations?

thanks in advance.
I trade all the formations as taught by James. My favorites are the reversal bars, pins/buobs/beobs.

Giraia, make that sad face a happy face avatar


Mike
Quoting bundyraider
Hi Jason,

Trading any market type is a lot easier when you mark out prospective support/resistance flip areas. When you plan ahead and are waiting for an event to happen it's a lot easier to pull the trigger with confidence and stick to your trade management ideals.

Without the drawn in blue lines, the U/J 4 hour chart looks like an undecided mess. Get good at reading this aspect of your charts and you'll find a way to trade sideways price action too.

Given chart...

Yellow arrows point to hint of a good pivot zone forming. This type of respect (second arrow and pin that formed) tells me it's a good "trading zone". Yellow "x" marks are bars that showed further respect. Later on, two further pins would have given great trades.

The two dotted blue lines are also minor pivot areas that act as guides (for me).
...Personally, I am very weary of entering too close to price 'traffic jams' such as these. ...BUT also, plotting these can give you confidence to wait out price move pauses and quick, temporary rebounds, etc. If you are expecting a short move, exiting at these is an option. Even taking part profits and so on. (On lower time frames they will become trading zones. ) Your preference. Yours to practice.

Lots of ways to trade all these of course, but the key is seeing those pivot areas and looking for the potential in any possible move first before waiting for your great entry.

Remember that it's still all about picking the best trades, no matter what type of market condition you are trading.

I'm watching this chart to see what happens.
Thank you Bundy! I still don't really know what a ppz is. From reading back threw the thread I would venture a guess that its a "price pivot zone" and is an area that has acted as both support and resistance? Thank you so much for the chart. I am attaching a chart for critique please and tell me if I have the idea correctly.
Attached Image (click to enlarge)
Click to Enlarge Name: ppz.gif Size: 45 KB
May the fish in your stream of life always bite.
Quoting aSandman
Thank you Bundy! I still don't really know what a ppz is. From reading back threw the thread I would venture a guess that its a "price pivot zone" and is an area that has acted as both support and resistance? Thank you so much for the chart. I am attaching a chart for critique please and tell me if I have the idea correctly.
yes a PPZ is simply an "area" where there is a flip b/w support and resistance

These can be zones, and are often not one specific point. Often times they line up with other things such as round numbers

Posts that best explain it

http://www.forexfactory.com/showpost...postcount=9035

http://www.forexfactory.com/showpost...postcount=9037

http://www.forexfactory.com/showpost...postcount=9038

http://www.forexfactory.com/showpost...postcount=9040

http://www.forexfactory.com/showpost...postcount=9041

http://www.forexfactory.com/showpost...ostcount=12722

Tips on drawing them is to zoom out so you can step back and see the price flips. There are both major and minor PPZs
Thanks Mike, You are the man ! My pc was down most of Sunday and Monday. PC hell, had to run sys recovery, use chkdsk to fix bad sectors on my HD, reloaded vid drivers and ran driver sweeper and even cleared the cmos on the motherboard. That being said, I missed the throwback pin on EU 4hour. It broke the flag down, then retraced and threw a huge hammer. I don't want to chase a market but I really regret missing this move. You mentioned before that their are several ways to "catch" a market. Would mind mentioning one please?

Edit: Like wait for a rally to short, or wait for a new consolidation to form or ...just sit on your hands and wait?

Thanks,

Jason
May the fish in your stream of life always bite.
oleman: . . . . Tue, Dec 10, 0:31AM CST (-0600 GMT) m& tb:on TA--some folks use a lot of it, some not so much. I've got 0ver $5,000 worth of books& I've read em all. When my son got ready to learn to trade, I had him read 4 --that's FOUR--that's all. I use Trade Station 4.0. It comes with every know TA method & indicator bjuilt in. I use only: Trendlines,moving averages, parallel lines, MACD, and horizontal lines. I'm interested only in tools that help me follow PRICE. Its a lot simpler than most folks think..............m &tb: if you're just starting, read John Murphy's "Technical Analysis------". Then read it again. Then study it. Then develop a system & paper trade it for 3-6mos, before you use real$. If you feel you must be in the markets before you have the requisite knowledge, read O'Higgins "Beating the Dow" & do what it says. If you do this you will beat 99% of private investors and 95% of mutual funds..........


I've had several pm's asking for oleman, so I just dug his stuff up. When I read this part I couldn't help but be reminded of James telling us about PA, and him saying "this stuff is dirt simple folks". Finally the emphasis on demoing for at least 3 months profitable in a row.
Jason
May the fish in your stream of life always bite.
EU continue move down if the support break down that will be to 1.39
good result for today......

regards,
my30marahaba
Attached Images (click to enlarge)
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Quoting my30marahaba
EU continue move down if the support break down that will be to 1.39
good result for today......

regards,
my30marahaba
good you get good results but the purpose of the thread isn't about posting personal results, only setups and education, it's not the cable thread
Dear all,

weekly and monthly for eu looks like move down to 61% line on monthly chart... any idea for it ...

regards,
my30marahaba
Attached Image (click to enlarge)
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Quoting phn
good you get good results but the purpose of the thread isn't about posting personal results, only setups and education, it's not the cable thread
dear sir,

this setup and education i have learned from this forum, between gu and eu on 4hr chart, i only take eu for this tread

rgds,
my30marahaba
I have been out the past 2 days because of the market madness and will come back once we stop having 400 pip days
Keep taking CT trades, I need more money :)
Quoting aSandman
Thanks Mike, You are the man ! My pc was down most of Sunday and Monday. PC hell, had to run sys recovery, use chkdsk to fix bad sectors on my HD, reloaded vid drivers and ran driver sweeper and even cleared the cmos on the motherboard. That being said, I missed the throwback pin on EU 4hour. It broke the flag down, then retraced and threw a huge hammer. I don't want to chase a market but I really regret missing this move. You mentioned before that their are several ways to "catch" a market. Would mind mentioning one please?

Edit: Like wait for a rally to short, or wait for a new consolidation to form or ...just sit on your hands and wait?

Thanks,

Jason
Hmm, I don't think I quite understand your question.

For me generally my thinking is this.

1. Is there a trending market(specific to the timeframe I am looking at).
2. If yes where are we at in that trend(ie, retracement - so we can look for confirming PA at specific levels / or are we consolidating, which in that case we look for a BO with the trend confirmed by PA).

Then you have.

Reversals
1. Are we at an extreme high and low?
2. Is there confluence(double bottom, divergence, round numbers).
3. What does the PA look like(ie, a long nose pinbar that is larger then the move and shows considerable reaction.

Is this sort of what you were looking for?

Let me know
Mike
Any comments??? I Think - looks good...
Attached Image
Quoting initex
Any comments??? I Think - looks good...
The Falling Knife.......
Quoting initex
Any comments??? I Think - looks good...
...needs confirmation to step into a trade against the major trend...
but Mike, you never take setups based in Steve Nison (i never read the book) candles?

thanks for aways answer my questions.
Quoting giraia_br
but Mike, you never take setups based in Steve Nison (i never read the book) candles?

thanks for aways answer my questions.
nope never read to much of his stuff, too many patterns if you ask me(just my opinion). I like to concentrate on the patterns James teaches and just try to keep things simple and in the end to me it is all about location location location

Take care

Mike
Quoting mbqb11
nope never read to much of his stuff, too many patterns if you ask me(just my opinion). I like to concentrate on the patterns James teaches and just try to keep things simple and in the end to me it is all about location location location

Take care

Mike
ok. Thanks.

do you stays pressing F5 button like me?
Quoting giraia_br
ok. Thanks.

do you stays pressing F5 button like me?
Scan charts
Refresh - Forex Factory
Refresh - James16group
answer - phone
refresh/answer - emails/pms-
answer - chats/posts
Scan charts
Hit next shot tiger woods 09

rinse and repeat



But now I am off to gym


Mike
Quoting mbqb11
Scan charts
Refresh - Forex Factory
Refresh - James16group
answer - phone
refresh/answer - emails/pms-
answer - chats/posts
Scan charts
Hit next shot tiger woods 09

rinse and repeat



But now I am off to gym


Mike
Minus the mess, if we would see that IB break to the downside, I would put probabilities on seeing it move much lower considering the resistance we are at right now.

The red horizontal line says it all.
Attached Image (click to enlarge)
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I dream, therefore I become.
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