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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

  • #19,301
  • Jan 21, 2009 8:02pm Jan 21, 2009 8:02pm
Quoting chr5648
Whats a little more concerning is that the Daily PB opened and closed below the 1.40 PPZ

Attachment
Alpari feed:

Open: 1.3867
High: 1.4026
Low: 1.3618
Close: 1.4016
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 70 KB
  • #19,302
  • Jan 21, 2009 8:04pm Jan 21, 2009 8:04pm
Hi guys, what do you think about Daily G/J PB? I'm a little confused about what to do when you have a PB but the PB or any other PA is not bounce off the PPZ, but rather the PPZ could act as resistance like in the G/J situation. PPZ ~131.550. If the PB break, it could be good for 600ps with 1:1 r/r.
  • #19,303
  • Jan 21, 2009 8:18pm Jan 21, 2009 8:18pm
Adding to the GBP/USD pinbar discussion, I have noticed an inside bar on the 4 hour chart. I was thinking of buying after the break of the daily pinbar, but Jaroo may have convinced me to wait a little longer.

Also, I wanted to say that this is by far the greates forex thread I have seen and would like to thank all of the contributers.
Attached Image (click to enlarge)
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  • #19,304
  • Jan 21, 2009 9:03pm Jan 21, 2009 9:03pm
Seems like alot of action today guys. I am becoming more comfortable picking out good pins and even some outside bar patterns, my problem is identifying traffic and the ppz. I know this takes some practice but is it just a matter of staring at the charts at different time frames and seeing where there is buildup? Learning this I know will keep me out of some risky trades and help me to adjust my TP's better. I dont know what I really am asking besides is there a method to finding ppz's?
  • #19,305
  • Jan 21, 2009 9:07pm Jan 21, 2009 9:07pm
Quoting arcus
Hi guys, what do you think about Daily G/J PB? I'm a little confused about what to do when you have a PB but the PB or any other PA is not bounce off the PPZ, but rather the PPZ could act as resistance like in the G/J situation. PPZ ~131.550. If the PB break, it could be good for 600ps with 1:1 r/r.
On FXPro platform the pin closed within the previous bar. It's at a swing low and the nose of the pin has good length. Not perfect, but not one I'd tell anyone not to trade either. There are a couple of price points that might cause a problem.

It's a pin that's worth trading on a break.

If you do trade it, watch 127.00 area. Take profit at any sign of a stall and set the rest to break even.
Bundy's status today: "Waiting..."
  • #19,306
  • Jan 21, 2009 9:08pm Jan 21, 2009 9:08pm
Quoting PipGator
Adding to the GBP/USD pinbar discussion, I have noticed an inside bar on the 4 hour chart. I was thinking of buying after the break of the daily pinbar, but Jaroo may have convinced me to wait a little longer.

Also, I wanted to say that this is by far the greates forex thread I have seen and would like to thank all of the contributers.
Hey Pip,
When we trade a daily bar, most of us will set our order and leave it until it is either triggered or cancel it after the following day closes. I am trading this but will be setting my trade to break even, BE, and may take some profit when price hits the ppz of ~1.4300.
  • #19,307
  • Jan 21, 2009 9:10pm Jan 21, 2009 9:10pm
Quoting dmc
Seems like alot of action today guys. I am becoming more comfortable picking out good pins and even some outside bar patterns, my problem is identifying traffic and the ppz. I know this takes some practice but is it just a matter of staring at the charts at different time frames and seeing where there is buildup? Learning this I know will keep me out of some risky trades and help me to adjust my TP's better. I dont know what I really am asking besides is there a method to finding ppz's?
Start on the Monthly chart and find the obvious Pivot Zones there, and work your way down to the timeframe you are trading. The higher the TimeFrame the stronger they usually are.
Bundy's status today: "Waiting..."
  • #19,308
  • Jan 21, 2009 9:11pm Jan 21, 2009 9:11pm
Quoting bundyraider
Start on the Monthly chart and find the obvious Pivot Zones there, and work your way down to the timeframe you are trading. The higher the TimeFrame the stronger they usually are.
Thank you Bundy
  • #19,309
  • Jan 21, 2009 9:15pm Jan 21, 2009 9:15pm
Thanks.

Quoting HipsterPipster
Hey Pip,
When we trade a daily bar, most of us will set our order and leave it until it is either triggered or cancel it after the following day closes. I am trading this but will be setting my trade to break even, BE, and may take some profit when price hits the ppz of ~1.4300.
  • #19,310
  • Edited 9:41pm Jan 21, 2009 9:21pm | Edited 9:41pm
Quoting bundyraider
Start on the Monthly chart and find the obvious Pivot Zones there, and work your way down to the timeframe you are trading. The higher the TimeFrame the stronger they usually are.
Also, try to fine tune the PPZs around Round Numbers.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #19,311
  • Jan 21, 2009 9:24pm Jan 21, 2009 9:24pm
Quoting jarroo
Thtat's why we need more conformation. Price has to prove itself by breaking 1.4000 and 1.4050. Then act as support, which is an even safer trade.

Meaning that if Price breaks these levels then retraces down and acts as support then we look for PA off these new support levels.
Just wanted to illustrate Jarroo's point on the GU Daily Pin. If you look at this 4hr chart (the blue highlights the bars that made the daily pin) you can see that there was a 4hr pin which breaks out nicely on the next bar. It then retraces to the previous resistance line which has turned into support. This is the break out, pull back, and continuation. It looks like the daily GU pin should trigger within the next 4hrs or so, if the next res line (not drawn) breaks.
Attached Image (click to enlarge)
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  • #19,312
  • Jan 21, 2009 9:30pm Jan 21, 2009 9:30pm
Quoting stoli7188
Just wanted to illustrate Jarroo's point on the GU Daily Pin. If you look at this 4hr chart (the blue highlights the bars that made the daily pin) you can see that there was a 4hr pin which breaks out nicely on the next bar. It then retraces to the previous resistance line which has turned into support. This is the break out, pull back, and continuation. It looks like the daily GU pin should trigger within the next 4hrs or so.
Nicely illustrated stoli.

Your lips to Price's ear.
Indicators show the past. Price Action "Indicates" the future.
  • #19,313
  • Jan 21, 2009 9:40pm Jan 21, 2009 9:40pm
Quoting jarroo
Also, try to fine tune the PPZs around Round Numders.
  • #19,314
  • Jan 21, 2009 9:43pm Jan 21, 2009 9:43pm
Quoting mbqb11
You could have corrected my spelling Mike. lol
Indicators show the past. Price Action "Indicates" the future.
  • #19,315
  • Jan 21, 2009 9:45pm Jan 21, 2009 9:45pm
Quoting jarroo
You could have corrected my spelling Mike. lol
didn't even notice it!
  • #19,316
  • Jan 21, 2009 9:47pm Jan 21, 2009 9:47pm
Quoting jarroo
Also, try to fine tune the PPZs around Round Numbers.

Yes I see that you do this in many of your Charts Jaroo, this is something I need to adopt.
  • #19,317
  • Jan 21, 2009 10:03pm Jan 21, 2009 10:03pm
Quoting jarroo
You could have corrected my spelling Mike. lol
Mike doesn't correct spelling mistakes. He round-house kicks his internet computer and the whole world changes the way they spell.
Bundy's status today: "Waiting..."
  • #19,318
  • Jan 21, 2009 10:09pm Jan 21, 2009 10:09pm
Quoting mbqb11

Mikey's fave..., round numbers, or is it round girls.????
How was the gym.....
  • #19,319
  • Jan 21, 2009 10:13pm Jan 21, 2009 10:13pm
Quoting bundyraider
Mike doesn't correct spelling mistakes. He round-house kicks his internet computer and the whole world changes the way they spell.
We will all be safe, Mikey is watching....
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  • #19,320
  • Jan 21, 2009 10:18pm Jan 21, 2009 10:18pm
lolol love you all too
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