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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

  • #16,921
  • Dec 16, 2008 2:19am Dec 16, 2008 2:19am
Quoting mbqb11
Hey Joe,

You gotta be mighty careful trading Inside Bars on the 4hr....
I'll back-up Mike big here. Coming off Asia you have to be very careful of IBs.

In my opinion you want the whole IB below the PPZ neatly for the highest chance of success too. If the preceding bar pokes through that's no problem most of the time, but to have the IB itself not break the resistence zone is pretty cool when you get it. ...Just something I've been holding too and have working well for me. I also like decent size deficit to the preceding bar, but that's just me.
Bundy's status today: "Waiting..."
  • #16,922
  • Dec 16, 2008 2:25am Dec 16, 2008 2:25am
Quoting sonicdeejay
I guess u mean 1.763x lvl....

Sonic
Yeah. Somewhere around there.

I'd already planned to enter there if it came along, with a stop below the lows.
Bundy's status today: "Waiting..."
  • #16,923
  • Dec 16, 2008 3:25am Dec 16, 2008 3:25am
Quoting GetSmart
Mike and Ken,

I've already entered a short on the EURCHF. Need someone to tell me why I shouldn't have...I'm forgetful An aggressive entry me thinks....

Mike, what category would you say this trade is ? B+ ? or z- ?

My reasoning..

1. 4hr IB closed below PPZ (fxpro chart)
2. Confluence at ppz, ie 38 weekly fib

Joe
Hey Joe

I still think this has further to rise. I did take a short using the spinning top as a signal to enter and place stops. I am already out though for 40pips and will wait to see if it can get to 16000 before taking another short.
(see my journal)

cheers

Simon
  • #16,924
  • Dec 16, 2008 3:43am Dec 16, 2008 3:43am
Quoting bundyraider
I'll back-up Mike big here. Coming off Asia you have to be very careful of IBs.

In my opinion you want the whole IB below the PPZ neatly for the highest chance of success too. If the preceding bar pokes through that's no problem most of the time, but to have the IB itself not break the resistence zone is pretty cool when you get it. ...Just something I've been holding too and have working well for me. I also like decent size deficit to the preceding bar, but that's just me.
thanks Bundy I really appreciate these little golden bits of advice !
  • #16,925
  • Dec 16, 2008 3:45am Dec 16, 2008 3:45am
Quoting simoncs
Hey Joe

I still think this has further to rise. I did take a short using the spinning top as a signal to enter and place stops. I am already out though for 40pips and will wait to see if it can get to 16000 before taking another short.
(see my journal)

cheers

Simon
Thanks Simon, I've set it to b/e and will let it ride a bit

Joe
  • #16,926
  • Dec 16, 2008 3:48am Dec 16, 2008 3:48am
Quoting raczekfx
I'm not in that trade, please check post #16880
If I was..., by my rules, I'd be most likely in around 1.7490.

1. from 1hr tf. you'd be in on the break of a pb around 1.7580
2. from 4h tf, you'd be in on a break of buovb around 1.7667
3. from daily tf, bar hasn't closed yet. We need to wait and see what we get.
When You identified a possible db-R setup, what is the lowest TimeFrame You watch, Racz? 5M, 15M?
THX, Laszlo

Ps.: Above You just wrote down a possible way to scale in like a "stock operator", didn't You?
  • #16,927
  • Dec 16, 2008 4:07am Dec 16, 2008 4:07am
Quoting Mr Trend
raczek... you put on a lot of trades, ya know that? You'd laugh at how many I do a month.
  • #16,928
  • Dec 16, 2008 4:16am Dec 16, 2008 4:16am
Quoting mbqb11
always got one eye open
Mike, that happens when one has children too, never sleep again with both eyes shut !!

Joe
  • #16,929
  • Dec 16, 2008 4:16am Dec 16, 2008 4:16am
There is a BUOVB on Swissy 4H on the extreme bottom, having Daily PPZ at 1.1500. Doesn't look very good, as the potential trade will be against the trend. Comments?

ALM


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  • #16,930
  • Dec 16, 2008 4:19am Dec 16, 2008 4:19am
Quoting Almfx
There is a BUOVB on Swissy 4H on the extreme bottom, having Daily PPZ at 1.1500. Doesn't look very good, as the potential trade will be against the trend. Comments?

ALM


Attachment
Any higher time frame PPZs in the area?
Indicators show the past. Price Action "Indicates" the future.
  • #16,931
  • Dec 16, 2008 4:31am Dec 16, 2008 4:31am
Quoting GetSmart
Mike and Ken,

I've already entered a short on the EURCHF. Need someone to tell me why I shouldn't have...I'm forgetful An aggressive entry me thinks....

Mike, what category would you say this trade is ? B+ ? or z- ?

My reasoning..

1. 4hr IB closed below PPZ (fxpro chart)
2. Confluence at ppz, ie 38 weekly fib

Joe
Mike and Bundy (as always) offer great info on this IB. It never ceases to amaze me how much I (we) learn from these guys. Maybe its becasue as time goes by, they are becoming even better traders and they share that experience here on this thread. How cool is that.


Anyways . . .

The strong confluence of Monthly (Weekly) PPZ and 61.8 Fib on the Eur/Chf is perfect location to look for Price Action. Waiting for Daily and Weekly Price Action is what we will be looking for.

But I like the 4 hour IB you selected not only because its off the confluences stated above but its also an I4B with a small range. Just remember that lower time frame moves may be short lived. Protect your gain.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #16,932
  • Dec 16, 2008 4:57am Dec 16, 2008 4:57am
Quoting Almfx
There is a BUOVB on Swissy 4H on the extreme bottom, having Daily PPZ at 1.1500. Doesn't look very good, as the potential trade will be against the trend. Comments?

ALM


Attachment
I like the location. I nice Pin Bar on the Daily would be cool.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #16,933
  • Dec 16, 2008 5:04am Dec 16, 2008 5:04am
Quoting jarroo
Mike and Bundy (as always) offer great info on this IB. It never ceases to amaze me how much I (we) learn from these guys. Maybe its becasue as time goes by, they are becoming even better traders and they share that experience here on this thread. How cool is that.


Anyways . . .

The strong confluence of Monthly (Weekly) PPZ and 61.8 Fib on the Eur/Chf is perfect location to look for Price Action. Waiting for Daily and Weekly Price Action is what we will be looking for....
Thankyou Jarroo for your feedback, I too liked the small range. So far the trade is evolving ok. I imagine "those guys" like Mike, Bundy, yourself and many others have countless screen hours logged. I need to start to collate all these little gems that come from the cross section of people here ! and review them regulary ! Its amazing how we can move from something we know, discover something new and promptly forget the other golden stuff we'd learned !

I feel like I know all the regular posters on this thread ! I've read for so long without posting much myself. But my trading had stalled somewhat. Seem to have been treading water for the last 6 months. Little gains, little losses, I think still developing my own trading style and ensuring my money management is rock solid..

Joe
  • #16,934
  • Dec 16, 2008 5:53am Dec 16, 2008 5:53am
Quoting jarroo
Any higher time frame PPZs in the area?
Hey Jaroo, Thanks for the reply! There is Weekly PPZ at 1.1600 area


ALM
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  • #16,935
  • Dec 16, 2008 5:57am Dec 16, 2008 5:57am
Quoting Almfx
Hey Jaroo, Thanks for the reply! There is Weekly PPZ at 1.1600 area


ALM
Just makes looking for PA set-ups on lower time frames a bit easier.

Higher time frame PA off these levels are even better.
Indicators show the past. Price Action "Indicates" the future.
  • #16,936
  • Dec 16, 2008 6:29am Dec 16, 2008 6:29am
Quoting GetSmart
Thankyou Jarroo for your feedback, I too liked the small range. So far the trade is evolving ok. I imagine "those guys" like Mike, Bundy, yourself and many others have countless screen hours logged. I need to start to collate all these little gems that come from the cross section of people here ! and review them regulary ! Its amazing how we can move from something we know, discover something new and promptly forget the other golden stuff we'd learned !

I feel like I know all the regular posters on this thread ! I've read for so long without...
One thing evident here is the range of different 'knacks' various people have here.

I trade one way. Raczek trades another. Rusty can be along those lines too. Hipster, Jaroo, Mark, Mr T and so on. ...Man... ...Where I skip a trade , these other guys start a great one. And vice Versa. lol We all colour it our own way and have setups we hate or love.

If you try and collate all our different opinions it might throw you down the wrong path and add more complexity to this than is really needed. (been there many times! lol)

Where as I ignore what I think is a crappy IB, there maybe some other factor that you have noticed, in your travels, that tells you that this one is in an exceptional circumstance that you have noticed repeating itself consistently and reliably over time. (Not just IBs of course.)

There's no correct way to trade other than the way the works for you.

Happy trading.
Bundy's status today: "Waiting..."
  • #16,937
  • Dec 16, 2008 6:57am Dec 16, 2008 6:57am
Quoting bundyraider
One thing evident here is the range of different 'knacks' various people have here.

I trade one way....
Thanks Bundy, I hear what you're saying !!! Yeah it takes a while to work out ones own way of trading and setups and definitely reading too much of this thread can sometimes do me more harm than good. I'm always amazed by how different traders pick different setups as you mentioned..

Nearly time for shuteye here..... Where are you Bundy ? I'm in Melbourne....are you in that house over there that has the lights on all night ?

Joe
  • #16,938
  • Dec 16, 2008 8:06am Dec 16, 2008 8:06am
DBLHC on GU 4H off the 38.2 ret.

little away from the ppz below, just sitting on the prevoius consolidation area NOV 24-28, comments?

ALM

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  • #16,939
  • Dec 16, 2008 8:19am Dec 16, 2008 8:19am
Here is a PB on EJ of some PPZ off minor ret. level
With Daily trend...

ALM

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  • #16,940
  • Dec 16, 2008 9:05am Dec 16, 2008 9:05am
Here are some 5min trades (done on demo - still working this method out).

Ryan, rusty, jankone, thank you for your charts and Ryan especially, thank you
for opening my eyes to trading pins with the trend and the simplicity of it.

For some reason just the way you phrased it I had a few 'ah hah' moments.
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