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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

  • #21,781
  • Feb 18, 2009 12:40pm Feb 18, 2009 12:40pm
Quoting raczekfx
If you told you who he is ...and the feds, many people would be offended, so I stop right here...




btw. I'm flat for now with limit orders waiting....
from another thread (kind of my journal):
It's gone over my head...

Anyways forget it...
I believe . . .
  • #21,782
  • Feb 18, 2009 12:41pm Feb 18, 2009 12:41pm
Quoting raczekfx
another opportunity I saw last night. Do we get a two-day PB? It would certainly be very nice.

polish bureaucrats were also talking about intervention... R+O+F+L+O+L
they don't have any reserves to do that, but the word is out and doing some psychological damage to speculators. It might be a great trade after all.
.
Oh Yeah! Now we're talkin'

More More!!!!
I believe . . .
  • #21,783
  • Feb 18, 2009 12:43pm Feb 18, 2009 12:43pm
Quoting raczekfx
If you told you who he is ...and the feds, many people would be offended, so I stop right here...




btw. I'm flat for now with limit orders waiting....
from another thread (kind of my journal):
nice trading mate
wish i was at home for that hourly pin on the gb/yen!!!
PATIENCE... DISCIPLINE
  • #21,784
  • Feb 18, 2009 12:50pm Feb 18, 2009 12:50pm
Quoting ghous

It's dirt simple as James says it's only a matter of time and determination

Regards,
Ghous.
Or as we say in Norway... "Drit enkelt!" ... or directly translated "Shit simple!"
"White collar crime deserves a blue collar beating!" - 8fingers
  • #21,785
  • Feb 18, 2009 12:54pm Feb 18, 2009 12:54pm
Quoting DramaKing
Or as we say in Norway... "Drit enkelt!" ... or directly translated "Shit simple!"
lol! Shit does'nt go parallel with the word decent, I guess that's why Jim replaced it with dirt
I believe . . .
  • #21,786
  • Edited 3:03pm Feb 18, 2009 1:22pm | Edited 3:03pm
Quoting datogio
I think it might end up with great opportunity, if this bar forms a pin
off 2500. i like it. i will be in when it breaks the high.
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  • #21,787
  • Feb 18, 2009 1:39pm Feb 18, 2009 1:39pm
Heads up this is looking nice.
Attached Image
"Whether you think you can or can't, you're right." Henry Ford
  • #21,788
  • Feb 18, 2009 1:41pm Feb 18, 2009 1:41pm
Quoting Scot Pippin'
Heads up this is looking nice.
Can you elaborate?
"White collar crime deserves a blue collar beating!" - 8fingers
  • #21,789
  • Feb 18, 2009 1:44pm Feb 18, 2009 1:44pm
I'm saying if this closes as a pin in the next 15 minutes or so, it's seems like a nice play. Nice round number, price pivot on the 4hr.
"Whether you think you can or can't, you're right." Henry Ford
  • #21,790
  • Feb 18, 2009 1:47pm Feb 18, 2009 1:47pm
Quoting jarroo
Where were your S/R levels (PPZs)? What Price Action setup was this based on? Was there any other supporting confluences?
Ok as I read more and more I realised that the green line there (which was my entry point) was a resistance line (ppz). Price did bounced like 4-5 times on that green line and what I see there my entry candle also didn't close under the low of the previous candles. I was more like sticking to indicators as my based signal. Good that you asked me of s/r levels to realise the risk of this trade. Thanks for correcting my trade, azuremaster.

Imma read more and more of the posts from page 1 and going to try and do backtesting of the system.
  • #21,791
  • Feb 18, 2009 1:56pm Feb 18, 2009 1:56pm
Quoting ghous
Hi Jlmac,

Somebody around a day ago made a post where he/she was asking why this thread was so special when most of the PA triggers are'nt anything new or as such revolutionary...

What's so special abt following what James does is to understand that trading is a lot more than just looking for a handful of PA triggers even if you're doing it the most conventional way.

A lot regarding your success in this tradng technique has to do with understanding where price is heading in a particular direction and where does it (ifatall) reverse and why......

Thanks Ghous,
I appreciate the reply.I see what you are refering to on your chart.I really enjoy this thread and the simplicity in the technique.I have watched james video's,everyone of them a couple times.In the past month and a half of following this thread my learning has came back to life so to speak.
I was caught in a rut with my learning before I started reading here.Good trading to you my friend,and thanks again for your part on this thread!!!
  • #21,792
  • Feb 18, 2009 2:02pm Feb 18, 2009 2:02pm
USD/JPY
Quoting Scot Pippin'
I'm saying if this closes as a pin in the next 15 minutes or so, it's seems like a nice play. Nice round number, price pivot on the 4hr.
EUR/USD
Quoting Pipsi cola
off 2500. i like it. i will be in when it breaks the high.
I would be careful on these. They are not pinbars by definition, but instead just neutral bars (or spinning top/doji). The O/C are in the middle of the bars.

EUR/USD Daily has 2 hours yet on my feed.

Josh
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  • #21,793
  • Feb 18, 2009 2:14pm Feb 18, 2009 2:14pm
I had a question about PPZ's that people draw.

Do you guys all draw them in the same color or do you have different one's in different colors. For example if you were drawing a PPZ from a weekly chart it would be blue and you'd draw a green one on a daily chart or something like that.

Or do you just draw them in the same color and treat them all equally?

Thanks,

Trublu
  • #21,794
  • Feb 18, 2009 2:30pm Feb 18, 2009 2:30pm
Quoting Scot Pippin'
I'm saying if this closes as a pin in the next 15 minutes or so, it's seems like a nice play. Nice round number, price pivot on the 4hr.
Pin bars are a reversal trade, that is not a valid bar.
  • #21,795
  • Feb 18, 2009 2:32pm Feb 18, 2009 2:32pm
Quoting trublu
I had a question about PPZ's that people draw.

Do you guys all draw them in the same color or do you have different one's in different colors. For example if you were drawing a PPZ from a weekly chart it would be blue and you'd draw a green one on a daily chart or something like that.

Or do you just draw them in the same color and treat them all equally?

Thanks,

Trublu
I generally try to draw them all the same color. It doesn't show it that way on my charts though, because I changed colors last week... sorry for confusion

I think some do use different colors based on importance, or timeframe. To state the obvious - it doesn't matter what color they are, as long as they are in the right place (hope mine are...)
  • #21,796
  • Feb 18, 2009 3:10pm Feb 18, 2009 3:10pm
Quoting ghous
After price made through the 1.17 level where would you want to see it go to? Should'nt it be the cluster of bar lows marked on my chart? If you've gone through J16's webinar excerpts you would know what I am talking abt.

As sensible traders we want to anticipate that price "should" make it to the
1.19 price level, this is where we want our PA to form, if it's bearish it's obviosuly at a great resistance level and will spell out an A+ location. A bullish pa "ABOVE" the 1.19 would again be off a great...
maybe price will retrace to ~1.17 & "old resistance will become new support"?
  • #21,797
  • Feb 18, 2009 4:23pm Feb 18, 2009 4:23pm
Hi Ghous,

I think the 1.20 level is an important one. I would like to see a clear break of it before betting on the price reaching the 1.23 ppz.
best regards

Loking at the USd/chf...

After price made through the 1.17 level where would you want to see it go to? Should'nt it be the cluster of bar lows marked on my chart? If you've gone through J16's webinar excerpts you would know what I am talking abt.

As sensible traders we want to anticipate that price "should" make it to the
1.19 price level, this is where we want our PA to form, if it's bearish it's obviosuly at a great resistance level and will spell out an A+ location. A bullish pa "ABOVE" the 1.19 would again be off a great location driven from the believe that 1.19 would now act as support.

Now say we actually bust through the 1.19 level and find a great BUOB on the 4H, nice in shape location's good so you take it, where next do you think should price stall? the next set of bar high...eh?

It's dirt simple as James says it's only a matter of time and determination

Regards,
Ghous.[/quote]
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  • #21,798
  • Feb 18, 2009 4:26pm Feb 18, 2009 4:26pm
oops, i am not good posting charts yet..
this is what i wrote from the previous post... the chart is from me...

Hi Ghous,

I think the 1.20 level is an important one. I would like to see a clear break of it before betting on the price reaching the 1.23 ppz.
best regards
  • #21,799
  • Feb 18, 2009 4:27pm Feb 18, 2009 4:27pm
I see my calls on the geppy were right on today
  • #21,800
  • Feb 18, 2009 4:46pm Feb 18, 2009 4:46pm
I think this is the kind of thing your looking for????
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