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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

  • #17,781
  • Edited 1:51pm Jan 3, 2009 12:57pm | Edited 1:51pm
Quoting nAVIN2007
we may be be master of our own destiny..however i can honestly say yur trading is very impressive..i wish one day i can have your attitude, displine and mental approach to the game...

thanks for yur posting...i really need to look at them in more depth as there is so much to learn
I can't speak for racekfx but I bet you he didn't start at this level of trading in the beginning.

I sure it was many years of studying S/R levels (PPZs), Price Action and their supporting confluences that he began fine tuning this type of trading.
Indicators show the past. Price Action "Indicates" the future.
  • #17,782
  • Edited 1:27pm Jan 3, 2009 1:08pm | Edited 1:27pm
Quoting jarroo
I can't speak for racekfx but I bet you he didn't start at this level of trading in the beginning.

I sure it was many years of studying S/R levels (PPZs), Price Action and their supporting confluences that he begin fine tuning this type of trading.
This is very true. I have gone through many accounts and wasted money on useless books, systems, etc... (since 1995)
Meeting James16 changed all that.

The rest is just as Jarroo mentioned, fine tuning with some practice and practice and practice.... on larger TFs.
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  • #17,783
  • Jan 3, 2009 1:16pm Jan 3, 2009 1:16pm
Quoting jarroo
I can't speak for racekfx but I bet you he didn't start at this level of trading in the beginning.

I sure it was many years of studying S/R levels (PPZs), Price Action and their supporting confluences that he begin fine tuning this type of trading.
Exactly! great point Jarroo. It obviosuly would have been a much longer journey than it first appears to be. The guy is loaded with all the experience in the world which is just one of the few pre-requisites of his style of trading.

Sometimes i don't like our immediate newbies having to ask questions like "why did you take the trade at the break of the IB as suggested by J16". I can understand that if I was a newbie i would have the same question in my confused head. I guess it all comes down to the fact that what James has been teaching here is pretty much the basic stuff, what he's been going through is what he thinks every newbie should first apply independantly and then integrate it into something he/she feels most comfortable with (or use it as a system initself, Jarroo is a living example of such a trader)

This is exactly what Raczekfx has done, and what Ryanmcd did and Mr.trend did and what many other great traders have done in this thread.

This special trait of this great thread is what actually makes it so great! It just truly is for everybody! For ppl who never look at anything over the 5Min to ppl who never thought trading anything lower than the weekly. For traders who are new just as much is it is for ppl who have been doing this for years!

Long Live this thread!!! :cheers:

Regards,
Ghous.
I believe . . .
  • #17,784
  • Edited Jan 4, 2009 12:29am Jan 3, 2009 1:47pm | Edited Jan 4, 2009 12:29am
Quoting ghous
Exactly! great point Jarroo. It obviosuly would have been a much longer journey than it first appears to be. The guy is loaded with all the experience in the world which is just one of the few pre-requisites of his style of trading.

Sometimes i don't like our immediate newbies having to ask questions like "why did you take the trade at the break of the IB as suggested by J16". I can understand that if I was a newbie i would have the same question in my confused head. I guess it all comes down to the fact that what James has been teaching here...
Price Action, the J16 way, is a method of trading. It can be incorporated into any system, any style of trading. It is a study of how Price behaves under certain conditions. When a Price Action formation develops with supporting confluences, then a high probability trade can be taken.

As I mentioned to others throughout the FF, Price Action is a great place to start and finish when learning how to trade effectively. It just takes time to learn.

What I like about raczekfx posts is his analysis on locations and confluences. We can all learn a lot from this. His entries are aggrestive so I just wait for PA.


Yes ghous . . long live this thread.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #17,785
  • Jan 3, 2009 2:10pm Jan 3, 2009 2:10pm
Quoting Mab
Hi guys,

I am quite new to the J16 thread and have been reading all the previous posts and believe PA is a powerful indicator.

Have been looking through some charts today and have noticed a weekly pin bar on eur/gbp.

I believe J16 would advise placing of Sell order below the pin with a SL just above the pin.

I would be interested to hear if the experienced guys & gals here would trade this setup - as is at a major high ?

Regards

MAB
Yes that's it.

The Weekly Pin Bar is not in its classic formation but it is a Pin Bar. It's size looks good in relation to the size of it's up move. Meaning that it sizes is not small and wimpy compared to the size of the bars (candles) in the up move .

The Daily PPZ not well defined , I have it around the .9520 area. Good solid Bearish PA at this level could validate the reversal Weekly PB.
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Indicators show the past. Price Action "Indicates" the future.
  • #17,786
  • Jan 3, 2009 2:20pm Jan 3, 2009 2:20pm
Quoting jarroo
I can't speak for racekfx but I bet you he didn't start at this level of trading in the beginning.

I sure it was many years of studying S/R levels (PPZs), Price Action and their supporting confluences that he began fine tuning this type of trading.
Yes thats what keeps me going...its a long journey and encouraging to see somebody getting to that level, anyways im learning everything jim teaches so one day i can have same/similiar opportunities

happy new year bro!
  • #17,787
  • Jan 3, 2009 3:19pm Jan 3, 2009 3:19pm
Quoting ghous
Gj is another great setup I am willing to take, though I am not sure if my MM will allow it. See my post abt Gj i posted a little while ago, Ive been watching the trendline break quite keenly.
Ghous.
The more I look at the G/J the more I like it. I keep eyeballing the 134.00 level. Wouldn't it be something if it broke north and kept going for a few years? Aaah, to dream.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,788
  • Edited 11:31pm Jan 3, 2009 11:26pm | Edited 11:31pm
I've been reading the past posts, half way done =)

So I have few questions to ask for clarification. PPZ is zone for BOTH support AND resistance? And another is what is the meaning of trading pullbacks to previous support after breakouts (Raczek mention in post #8617). Sorry Rac, just I've been really interested to your insight of trading.

Thats it for now lol. Thanks.
  • #17,789
  • Jan 4, 2009 12:37am Jan 4, 2009 12:37am
Quoting arcus
I've been reading the past posts, half way done =)

So I have few questions to ask for clarification. PPZ is zone for BOTH support AND resistance? And another is what is the meaning of trading pullbacks to previous support after breakouts (Raczek mention in post #8617). Sorry Rac, just I've been really interested to your insight of trading.

Thats it for now lol. Thanks.
PPZ are where Support and Resistance levels meet. Check the James16 and mbqb11 posts. They give many examples.

http://www.forexfactory.com/showpost...ostcount=12729
Indicators show the past. Price Action "Indicates" the future.
  • #17,790
  • Jan 4, 2009 12:47am Jan 4, 2009 12:47am
Quoting jarroo
PPZ are where Support and Resistance levels meet. Check the James16 and mbqb11 posts. They give many examples.

http://www.forexfactory.com/showpost...ostcount=12729
Thanks Jarroo, it clears things up. For the 2nd Q, already found the answer.
  • #17,791
  • Jan 4, 2009 2:49am Jan 4, 2009 2:49am
Quoting LasVahGoose
The more I look at the G/J the more I like it. I keep eyeballing the 134.00 level. Wouldn't it be something if it broke north and kept going for a few years? Aaah, to dream.
LOL! let's hope I have my ppz at 133, and if i take a trade I am taking it as a break of this level.

Regards,
Ghous.
I believe . . .
  • #17,792
  • Jan 4, 2009 3:49am Jan 4, 2009 3:49am
Quoting jarroo
Yes that's it.

The Weekly Pin Bar is not in its classic formation but it is a Pin Bar. It's size looks good in relation to the size of it's up move. Meaning that it sizes is not small and wimpy compared to the size of the bars (candles) in the up move .

The Daily PPZ not well defined , I have it around the .9520 area. Good solid Bearish PA at this level could validate the reversal Weekly PB.

Thanks Jarroo, I too will be looking for PA on 4hr / Daily for a possible position to enter. I have put my daily PPZ around 0.9500 (round number) upto 0.9520. I agree it is a little vague at the moment.

Thanks

MAB.
  • #17,793
  • Edited 7:23am Jan 4, 2009 4:30am | Edited 7:23am
Looking at the Eur/Chf Weekly Pin Bar (candle). (FxPro/Alpari)

Charted my Weekly and Daily PPZs.

That Weekly BEOB (lighter blue) was beautiful. Put that in your PA text book and cash it.
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Indicators show the past. Price Action "Indicates" the future.
  • #17,794
  • Jan 4, 2009 11:34am Jan 4, 2009 11:34am
Here's a potential setup I spotted while going through my charts this afternoon. It's a 4h pb off the 92.00 round number, which is also a potential Daily PPZ although the actual area extends down to 91.50. It is supported by the 150ema, though there is no divergence. I think to take this I'd need to see a clear break of the 91.50 level, and as this setup occurred last week with thinner liquidity and not all of the factors lining up, I'm gonna pass on it. Interesting to watch though
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History will be kind to me, for I intend to write it - Winston Churchill
  • #17,795
  • Jan 4, 2009 11:50am Jan 4, 2009 11:50am
happy new year all

any thoughts on the 4hr pins on ftse and dow
at swing highs with a lot of room to move, but the pin is a little small in comparison to the previous bars
other than the weekly ppz's i can't see any other supporting factors
is the 50fib too far away to count?
however will watch these with interest
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  • #17,796
  • Jan 4, 2009 12:12pm Jan 4, 2009 12:12pm
Quoting Pie Trader
Here's a potential setup I spotted while going through my charts this afternoon. It's a 4h pb off the 92.00 round number, which is also a potential Daily PPZ although the actual area extends down to 91.50. It is supported by the 150ema, though there is no divergence. I think to take this I'd need to see a clear break of the 91.50 level, and as this setup occurred last week with thinner liquidity and not all of the factors lining up, I'm gonna pass on it. Interesting to watch though
Strange! I don't have any signs of a Pin bar whatsoever on my Fxopen feed nor do I have it on my IBFX mt4...Just see a bullish bar with a tail to the north not a Pb in any way...

Anyways...Looking at the higher tfs I am not looking for any shorts on the Uj...

The Dow which is strongly correlated with the Uj is headed up, Uj itself has successfully closed beyond the daily resistance trend line...

http://i81.photobucket.com/albums/j209/ghous/dji-2.gif

http://i81.photobucket.com/albums/j209/ghous/uj.gif

Regards,
Ghous.
I believe . . .
  • #17,797
  • Jan 4, 2009 12:24pm Jan 4, 2009 12:24pm
weekly pin on the CHF/JPY on the 50 Fib. The daily has shown three marginal pins the last 3 of 4 days.
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  • #17,798
  • Jan 4, 2009 12:25pm Jan 4, 2009 12:25pm
Quoting ghous
Strange! I don't have any signs of a Pin bar whatsoever on my Fxopen feed nor do I have it on my IBFX mt4...Just see a bullish bar with a tail to the north not a Pb in any way...

Anyways...Looking at the higher tfs I am not looking for any shorts on the Uj...

The Dow which is strongly correlated with the Uj is headed up, Uj itself has successfully closed beyond the daily resistance trend line...

Regards,
Ghous.
I'm using Alpari for my feed, but haven't had a chance to check it against my other feed (FX-Pro) yet to see if there's any difference. It could be due to when the 4h bar is 'written' on the chart. Alpari would have started the last 4h bar at 7pm GMT.

Still, I agree that short is not the direction to be looking at on the UJ at the moment. Besides which it would be contradicting my short on EU which I'm still in on, and that just wouldn't be good karma would it

I'll be checking back on things when the markets open later. Thanks for your input Ghous.

Regards,
Pie Trader
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,799
  • Jan 4, 2009 1:24pm Jan 4, 2009 1:24pm
Started going thru this thread from starting and i can just say WOW.
It will take me a month to read thru till i reach the last post. I am still on 35th page.

Any suggestions of approaching it faster. Has anyone compiled useful info from this thread?

I would like to join the pf but once i go thru all free stuff. I mean there is so much important stuff here that i have to grasp first....
  • #17,800
  • Jan 4, 2009 1:31pm Jan 4, 2009 1:31pm
Quoting ffbk
Started going thru this thread from starting and i can just say WOW.
It will take me a month to read thru till i reach the last post. I am still on 35th page.

Any suggestions of approaching it faster. Has anyone compiled useful info from this thread?

I would like to join the pf but once i go thru all free stuff. I mean there is so much important stuff here that i have to grasp first....
There are PDF documents in the attachments (Click on the paper clip in the upper right hand corner). Download those and read them and that will get you started.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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