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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

  • #22,081
  • Feb 20, 2009 10:09am Feb 20, 2009 10:09am
So many good trades you guys are finding. Only problem is I dont have the time to monitor or find these 4hr or 1hr trades. Life is too busy

When will one of thos day trades come by?
Dr. C
  • #22,082
  • Feb 20, 2009 10:10am Feb 20, 2009 10:10am
Quoting raczekfx


Learned from the best Texan in here ... Didn't asked many questions, but watched videos, practiced, built confidence, practiced some more, added couple extra tricks from my own R&D and that's the end of the book....

History likes to repeat itself time after time after time, but not everyone likes history....

... hi Rac
I don't know if i have to thank you .... can't tell you how many times i was tempted to write you "why did you put that S&R line there?"...
I resisted that temptation studying charts, charts, and guess what ... charts!
Printed charts, offline charts, live ... anything that can be drawed as a chart.
I feel too proud to say i made some trades as you showed on some of your posts, .. proud because they all came from my personal R&D but surely your posts pushed me to go deep into S&R (obviously complemented with PA).. i feel like i'm geting a personal edge on trading .... the only thing I blame is all the time that took me to get here to find out how trading can be unbelievably simple and fun.


However good weekend to all .
giuseppe
  • #22,083
  • Feb 20, 2009 10:13am Feb 20, 2009 10:13am
Quoting BWise
Hi,

Im fairly new to this thread....
Hey BW

Welcome to the thread. A lot of these concepts can/will only become clear after going through the posts from page 1 a few times. I know it seems like a monstrous task but it will be worth all your time. What is taught here can't be summed up in a post with "everything". I know most threads on FF have a first post summary of their super system, but this is something that needs to be learned and honed in over time.

Each concept you mention above is talked about many times over by James and others here. The best thing you could do is. Start from page and post 1 and begin to take your own notes. Update and change those notes as you go.

Here is a start for you:

PPZ - http://www.forexfactory.com/showpost...ostcount=14084

Confluence - When multiple factors line up to support your trade. This can come in many forms. Such as price returning to former PPZ, that lines up with a Fib, or a MA and a round number. More factors that support your trade.

Pinbars - Well those are all over from the beginning so I will let you dig into that but below is a chart with a pinbar. This is a reversal bar formation.

http://www.forexfactory.com/showpost...ostcount=19599
http://www.forexfactory.com/showthre...25#post2552025
http://www.forexfactory.com/showthre...ar#post2498127 - just some info on what is taking place to cause a pin(logic behind it)

BEOB/BUOB
DBHLC/DBLHC - http://www.forexfactory.com/showpost...postcount=7649

http://www.forexfactory.com/showpost...ostcount=21222 - here is an example where the trade target is the 50% fib area which is Confluence and used as targets. It will become more clear as you work in from the beginning


Hope that helps getting you started, grab your favorite beverage and dig in from page 1 you won't ever look back

Mike
  • #22,084
  • Feb 20, 2009 10:16am Feb 20, 2009 10:16am
Hey mark,
Do you use too WIG20 to trade USDPLN?

BTW: Excellent posts

Quoting raczekfx
ok. the last one for today.


Exactly the same way I played cable today, but on 1hr (retrace back to pb + 50/61fib) and g/j - retrace to 4hr pb

Early Friday morning... business closed.
Back to do more R&D

have a good weekend all..
.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #22,085
  • Feb 20, 2009 10:22am Feb 20, 2009 10:22am
Quoting regsklongshort
James, it appears to me that because this pinbar is immediately below the 3 purple ppz's to the left, meaning that price would have very little room to move upwards if the pinbar is broken.

Or, did you see this as a pinbar that broke down through the ppz and was rejected so that signaled a move upwards.

Will someone please explain the reasoning for this trade in more detail so I can understand?

p.s. This is a great thead, have been following it since last summer and have learned alot!!!
Hey Reg


The 130 area marked off by james is our PPZ area. Remember these are zones. So this pinbar is forming off this "zone". You have support, turning into resistance, and then again turning into support at the big round number ppz of 130.

Those 3 purple boxes are all apart of the same zone you can extend. You could draw one big purple box around that area to show the flip. I did that below on the chart for you.

Let me know if that makes sense
Mike
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  • #22,086
  • Feb 20, 2009 10:24am Feb 20, 2009 10:24am
Hey guys!

this week was extremely profitable for me and I feel just great right now, thanks to you all this positive, professional and profitable thread exists and let it exit forever to help more and more people in achieving dreams.

Thank you our teacher James16 and all you guys thank you too.

Have a nice weekend and enjoy the pips you made, you deserve them all.

A huge success.

David
  • #22,087
  • Feb 20, 2009 10:30am Feb 20, 2009 10:30am
Quoting BWise
Hi,

Im fairly new to this thread....
BWise,
Welcome to this thread. I'm a newbie myself, who has started reading from the beginning. I'm well over 1/2 way done now and have lots of notes to review and lots of posts to review/study when I'm done. It cannot be overemphasized to really read this whole thread. Set a goal to read a few hundred posts each day and you'll be surprised how quickly you learn this method of trading. Then will come the demoing, trading plan, etc...

I found this post sometime this week that might help. Similar to what Mike just posted. This one is from Seeking Light, a great resource, trader, and person.

Skip down to all the links.
http://www.forexfactory.com/showpost...ostcount=13579
  • #22,088
  • Feb 20, 2009 10:38am Feb 20, 2009 10:38am
Quoting arcus
Nice trade Rac. 1 question, if you trade on the lower TF, the PPZ you draw is based on that TF or higher TF?
Higher, always higher time frame PPZs.
Indicators show the past. Price Action "Indicates" the future.
  • #22,089
  • Feb 20, 2009 10:42am Feb 20, 2009 10:42am
USD/CHF..... might give me my first daily pinbar down..... Have to wait till money to see though
Dr. C
  • #22,090
  • Feb 20, 2009 10:49am Feb 20, 2009 10:49am
Quoting mbqb11
Hey BW

Welcome to the thread....

Thanks for steering me in the right direction. I guess i have a lot of reading to do this weekend. Im up for the task tho.

Also, thanks to Jduester for his contributions, much appreciated.
  • #22,091
  • Feb 20, 2009 11:05am Feb 20, 2009 11:05am
Quoting BWise
Thanks for steering me in the right direction. I guess i have a lot of reading to do this weekend. Im up for the task tho.

Also, thanks to Jduester for his contributions, much appreciated.
Good for you BWise,

We've all heard ourselves moan and groan when we were first told to go through the entire thread.

Everything good has to have ample resistance trust me as Mike said the task's worthwile

Regards,
Ghous.
I believe . . .
  • #22,092
  • Feb 20, 2009 11:07am Feb 20, 2009 11:07am
Quoting cvcamper
USD/CHF..... might give me my first daily pinbar down..... Have to wait till money to see though
Time to edit your post bro, the beast has fallen to the ground
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I believe . . .
  • #22,093
  • Feb 20, 2009 11:12am Feb 20, 2009 11:12am
Quoting jarroo
Long term EMAs work nicely as S/R levels. 365 ema , 200 ema and the 150 ema at the close.
BIG thanx for all of this
  • #22,094
  • Feb 20, 2009 11:13am Feb 20, 2009 11:13am
Quoting ghous
Time to edit your post bro, the beast has fallen to the ground
was a nice trade off the 1hr - BEOB - thought this might happen after price broke through ascending wedge - often a sign of fake out.
came out at weekly pivot/365ema - looks like i was too early -but some nice pips to finish the week
will now look for retrace back to wedge
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  • #22,095
  • Edited 11:26am Feb 20, 2009 11:13am | Edited 11:26am
Quoting trujillo1980
Yes I got a MM plan; tp1 @46.50...rest to BE. If everything is going well, I'll be watching 46.0 and 45.0 for posible TP...

Most of the time Im doing well with Dailys, but as soon as I lower TF, problems comes in...Im learning to be patient....
Ah well maybe that first tp needed to be at the 47 round number Trujillo

The first gold line on my chart is the 47 round number and your stop was the other gold line which was at 46.5...notice something??

the problem with 46.5 was obviosuly that it represented the end of that price flip formed by adjacent bar lows, price could would should and did find the support it needed well above it, to be on the safe side SL's need to be on the other side of a ppz and tps just before price heads into them


Did you get a BE?
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I believe . . .
  • #22,096
  • Feb 20, 2009 11:16am Feb 20, 2009 11:16am
Quoting simoncs
was a nice trade off the 1hr - BEOB - thought this might happen after price broke through ascending wedge - often a sign of fake out.
came out at weekly pivot/365ema - looks like i was too early -but some nice pips to finish the week
will now look for retrace back to wedge
Hate to see these lovely PA setups on Friday Dusk Monday mornings are full of rigor, expect anything in those early hours...
I believe . . .
  • #22,097
  • Feb 20, 2009 11:27am Feb 20, 2009 11:27am
Quoting ghous
Hate to see these lovely PA setups on Friday Dusk Monday mornings are full of rigor, expect anything in those early hours...

tell me about it - closed my gbpjpy for tiny loss as it had stagnated and wanted to be flat for w/e. - the moment i close the market shoots up.
  • #22,098
  • Feb 20, 2009 11:33am Feb 20, 2009 11:33am
Quoting simoncs
tell me about it - closed my gbpjpy for tiny loss as it had stagnated and wanted to be flat for w/e. - the moment i close the market shoots up.
I got 1 breakeven, 1 loss and 2 exits via the trail stop feature of mt4. quite a meager looking end to a great beginning. lol! I am happy either ways though, patience really does pay

Regards,
Ghous.
I believe . . .
  • #22,099
  • Feb 20, 2009 11:37am Feb 20, 2009 11:37am
Quoting ghous
Hate to see these lovely PA setups on Friday Dusk Monday mornings are full of rigor, expect anything in those early hours...
could be interesting next week. still like to see how today ends but we are seeing some interesting moves.
gold is up & US dollar is down.
dow is down but yen pairs are bullish
maybe the dow is waiting for the s&p to put in its double bottom before we rally up.

get that trigger finger ready ghous. next week could be busy...
  • #22,100
  • Feb 20, 2009 11:48am Feb 20, 2009 11:48am
a close above last weeks close will be nice.
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