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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

  • #19,741
  • Jan 28, 2009 4:12am Jan 28, 2009 4:12am
Quoting Piproo
Honestly, since I started following PA, I never......look at fundemantal stuff....and honestly, I never consider so called psyco level like 00...

Should I?
00 levels are not fundamental levels, those are for us technicians ...and they are very important to me personally as a trader

Don't worry about the fundamental stuff. Sure some people use both, or just fundies, not trying to get them riled up. But a lot of us don't even look at news calendars ever. Just let the charts guide you.

Take care
Mike
  • #19,742
  • Jan 28, 2009 4:32am Jan 28, 2009 4:32am
Quoting mbqb11
00 levels are not fundamental levels, those are for us technicians ...and they are very important to me personally as a trader

Don't worry about the fundamental stuff. Sure some people use both, or just fundies, not trying to get them riled up. But a lot of us don't even look at news calendars ever. Just let the charts guide you.

Take care
Mike

Thanks, Mike, got it, 00 is an S&R level to u, I will try to watch more with my trading mate.

Btw, I only checking calendars for one purpose: any holiday...if yes, I then trading less .

Thx again.
  • #19,743
  • Jan 28, 2009 4:46am Jan 28, 2009 4:46am
was watching this one, but I didnt trade it .

PB at price consoliation low with ppz and 365 ema confluence.

range top 150 ema and ppz confluence could be nice tp area

guys, need ur comments on this on....was it worthy to have a try?

and im waiting for break out and retrace, im not good at ranging, actually even trending

http://clip2net.com/clip/m11384/1233...-clip-18kb.png
  • #19,744
  • Jan 28, 2009 4:59am Jan 28, 2009 4:59am
Morning all,
I've been taking a tentative demo-step towards trading Outside Bars, and I was wondering if an OB is still valid to play if the bar before it is a Sunday bar? I've marked my possible entry down on the chart below. Not much room to go down, but maybe 100 pips?
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  • #19,745
  • Jan 28, 2009 5:38am Jan 28, 2009 5:38am
Quoting jarroo
Just my two cents Pip.

Good job on the demo trading. This is where we learn, practise and learn. You are following the path much of us have taken. Early on, we look at any opportunity for a gooding looking PA setup to trade.

Searching for location, formation, PPZs and other confluences to develop, so we can trade. We then look at entries a bit more aggressively at 50% & 61.8 retracements, before the break, left eye entries and so on.

I believe this OK to do with demoing, of course. It's part of the learning and confidence building process....
Jarroo

Spot on with these comments man! I have travelled a little bit along the path and have got to the stage now where I am only looking for the best setups. There have been a few pins recently(eg E/U daily yesterday) which I would have taken not so long ago, but I am now rejecting these as they are not high probability setups. It has taken a while , though, and I believe its a stage all newcomers to J16 pa must pass through before they progress to only taking A+ setups. Last week I took one trade, and so far this week no trades, and believe it or not I am pleased about this as I feel that my discipline is improving. Still a long way to go of course but I am moving along the path, and the urge to trade, trade, trade any old setup is receding.

berti
PA is where its at!!
  • #19,746
  • Jan 28, 2009 6:14am Jan 28, 2009 6:14am
Quoting jarroo
Yes, I got in on the break of this grouping of PBs (1.4024). I didn't want to post it because its a bit off the trail. But it looked good for a small position trade.

Wow, took the same trade for same reasons, boy thats encouraging
Entry 1.4034

Edit: And james commented on it. Feeling real chuffed now

Makes up for the ridiculous heat here at the moment.. Wonder if tehuringa has melted...
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  • #19,747
  • Jan 28, 2009 6:31am Jan 28, 2009 6:31am
Jarroo

That was a nice trade on cable, how would you rate it in terms of its setup? ie, would you call this one a B category trade or what?

berti
PA is where its at!!
  • #19,748
  • Jan 28, 2009 7:23am Jan 28, 2009 7:23am
I have been waiting for this one.
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  • #19,749
  • Jan 28, 2009 7:50am Jan 28, 2009 7:50am
Quoting jarroo
I see a clear shot as well to the 1.4350. Consolidating at that level would make me hang on a lot longer.
Jarroo, do you mean you would hang on of the consolidation above or below 1.4350? Cause when I see consolidation below PPZ at round number, I tend to think the price will reverse so that's why I want to know why would you want to hang on longer. I mean, what would you really want to see or see when you see consolidation above or below PPZ because when I see PB, i know what to do but consolidation, a little bit confused. Thanks!
  • #19,750
  • Jan 28, 2009 7:52am Jan 28, 2009 7:52am
I'm not seeing anything that would warrant a trade on the AUD/CHF chart you put up. We're coming into a S/R zone.

Are you pointing out that we are now in a 'decision' point in the chart and you'll be looking for price action to tell you the direction to take the trade?

If I'm totally missing something, please let me know... new to PA trading am I.


Josh
  • #19,751
  • Jan 28, 2009 8:00am Jan 28, 2009 8:00am
Quoting Jduester
I'm not seeing anything that would warrant a trade on the AUD/CHF chart you put up. We're coming into a S/R zone.

Are you pointing out that we are now in a 'decision' point in the chart and you'll be looking for price action to tell you the direction to take the trade?

If I'm totally missing something, please let me know... new to PA trading am I.


Josh
Exactly, and when it breaks then we have a nice long. Price has been testing this area repeatedly and it should break it. Patience, let it move. I should add, I am watching this area for a trade.
  • #19,752
  • Jan 28, 2009 8:06am Jan 28, 2009 8:06am
Quoting Blackinc
Wow, took the same trade for same reasons, boy thats encouraging
Entry 1.4034

Edit: And james commented on it. Feeling real chuffed now

Makes up for the ridiculous heat here at the moment.. Wonder if tehuringa has melted...

Great... took it @1.4050, TP1 @1.4182 Im currently out @1.4330
For me it was a B++ trade, location of the PB weigthed more than PB itself.

Ah...and I don't watch the news never, IMO price itself tells me everything I want to know....

Regards...
  • #19,753
  • Jan 28, 2009 8:20am Jan 28, 2009 8:20am
Quoting Jduester
I'm not seeing anything that would warrant a trade on the AUD/CHF chart you put up. We're coming into a S/R zone.

Josh
You could probably wait for breakout then let it tested the support and enter on pullback. I think that's the way Mike did it.

Off topic:

Dude, are you in UW-Madison? Cause that would be awesome lol cause I'm in UW-Mad as well. Just figure it out from your signature.
  • #19,754
  • Jan 28, 2009 8:30am Jan 28, 2009 8:30am
I must stop check my charts avery second. I almost close this one in a lost just before price starting to go north.

Now is looking good...

Any though more than welcome....

Regards...
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  • #19,755
  • Jan 28, 2009 8:34am Jan 28, 2009 8:34am
Quoting trujillo1980
I must stop check my charts avery second. I almost close this one in a lost just before price starting to go north.

Now is looking good...

Any though more than welcome....

Regards...
Great job T, looks right on for a rejection or tp area.
  • #19,756
  • Jan 28, 2009 8:41am Jan 28, 2009 8:41am
Thats the area I have been waiting for.
tp was a bit higher @ 128.90 but if it closes on the hr as a nice beob I may close now .
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  • #19,757
  • Jan 28, 2009 9:00am Jan 28, 2009 9:00am
Pin in the Making
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Find an Edge. Only way to succeed in this business.
  • #19,758
  • Jan 28, 2009 9:10am Jan 28, 2009 9:10am
Quoting rustyjeff
Thats the area I have been waiting for.
tp was a bit higher @ 128.90 but if it closes on the hr as a nice beob I may close now .
hey jeff, are you using de mark indicator?
Simplicity is the key to success
  • #19,759
  • Jan 28, 2009 9:12am Jan 28, 2009 9:12am
G/U
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  • #19,760
  • Jan 28, 2009 9:17am Jan 28, 2009 9:17am
Quoting squeezy
hey jeff, are you using de mark indicator?


no, just macd for divergence
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