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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

  • #25,401
  • Mar 30, 2009 4:19pm Mar 30, 2009 4:19pm
PB on Daily Chart. There's a resistence close so I will move my SL to BE as soon as possible.
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  • #25,402
  • Mar 30, 2009 4:22pm Mar 30, 2009 4:22pm
This is my first J16 "chart analysis" so here goes! Oh, and please correct me if i'm off. The pb (if it closes as such) sits over the 50 fib level which is also acting as a ppz. The only negative thing I see is that the next ppz is about 140 pips above, not an ideal r:r if we have a s/l at the end of the nose.
Comments?
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  • #25,403
  • Mar 30, 2009 4:23pm Mar 30, 2009 4:23pm
psneto just posted the same thing! LOL
  • #25,404
  • Mar 30, 2009 4:29pm Mar 30, 2009 4:29pm
Hello guys
What do you think about CHFJPY weekly PIN. I see first PPZ at 82-82.30 area, however trade went down over 100 pips and its now back at the entry level. I know its only beginning of the week, but would you close it for BE or would you let it run? Thank you
alter
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  • #25,405
  • Mar 30, 2009 4:45pm Mar 30, 2009 4:45pm
OK, I've been on Google all day to find the definition of PPZ with no luck. From the conversations around it I've come up with two possibilities...

Potential Pivot Zone (my first guess) or Potential Profit Zone...
Ghost Rider - WWTBMD?
  • #25,406
  • Mar 30, 2009 4:49pm Mar 30, 2009 4:49pm
Quoting albchr
OK, I've been on Google all day to find the definition of PPZ with no luck. From the conversations around it I've come up with two possibilities...

Potential Pivot Zone (my first guess) or Potential Profit Zone...
Price Pivot Zone
  • #25,407
  • Mar 30, 2009 4:51pm Mar 30, 2009 4:51pm
Quoting albchr
OK, I've been on Google all day to find the definition of PPZ with no luck. From the conversations around it I've come up with two possibilities...

Potential Pivot Zone (my first guess) or Potential Profit Zone...
lol. Price Pivot Zone.

Areas where price shows history of support turning into resistance and vice versa. ....These are areas/zones. Not always one exact price point.

edit: beaten. Thanks FX
Bundy's status today: "Waiting..."
  • #25,408
  • Mar 30, 2009 4:51pm Mar 30, 2009 4:51pm
Quoting albchr
OK, I've been on Google all day to find the definition of PPZ with no luck. From the conversations around it I've come up with two possibilities...

Potential Pivot Zone (my first guess) or Potential Profit Zone...

PPZ = Price Pivot Zone.

See Mike's (mbqb11) summary:

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

If you haven't already, I would suggest starting at page 1 of this thread and getting through as much as you can. You'll have a very good understanding of what's going on here just from reading the first hundred to two hundred pages.

Cheers
MM
  • #25,409
  • Mar 30, 2009 4:52pm Mar 30, 2009 4:52pm
I see a DHLC on uj daily. the differnce is one pip. Like to know what everyone thinks, and if this is a valid trade should it be taken after retracement?

Thank you in advance;

Seb
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  • #25,410
  • Mar 30, 2009 4:56pm Mar 30, 2009 4:56pm
Quoting albchr
OK, I've been on Google all day to find the definition of PPZ with no luck. From the conversations around it I've come up with two possibilities...

Potential Pivot Zone (my first guess) or Potential Profit Zone...

you mean wikipedia doesnt have it yet?????? wth..
  • #25,411
  • Mar 30, 2009 5:00pm Mar 30, 2009 5:00pm
Quoting MinceMeat
PPZ = Price Pivot Zone.

See Mike's (mbqb11) summary:

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

If you haven't already, I would suggest starting at page 1 of this thread and getting through as much as you can. You'll have a very good understanding of what's going on here just from reading the first hundred to two hundred pages.

Cheers
MM
Thanks MM (and everyone). This is my first day in here and I've been reading my butt off from page 1. When I hit Jduester's J16 Chart Thread Summary I just started going down the list of posts...LOL

I'll start on Mike's next. Geezz...will this leave me any time to trade...LOL (Kidding)
Ghost Rider - WWTBMD?
  • #25,412
  • Mar 30, 2009 5:07pm Mar 30, 2009 5:07pm
Quoting rustyjeff
i dont see a beob. just a beb. on ej.

ucad weekly shows a beob @ the down arrow.
its a bar that encompasses the previous bar. @ a swing high is best...

Thanks for the help. I still have sooo much to learn. I missed the fact that it wasn't a swing high but it does encompass the previous bar, right ,or is the previous bar too small to count?
  • #25,413
  • Mar 30, 2009 5:11pm Mar 30, 2009 5:11pm
Quoting seboileroom
I see a DHLC on uj daily. the differnce is one pip. Like to know what everyone thinks, and if this is a valid trade should it be taken after retracement?

Thank you in advance;

Seb
I take DHLC only if the close of second bar is below previous bar low. This is some aggressive setup. Or maybe you mean 2 matching highs to play trend continuation breakout?
  • #25,414
  • Mar 30, 2009 5:12pm Mar 30, 2009 5:12pm
Quoting TotalNewbie
Thanks for the help. I still have sooo much to learn. I missed the fact that it wasn't a swing high but it does encompass the previous bar, right ,or is the previous bar too small to count?
Hi.

The previous bar was the Sunday bar and I think most people ignore the Sunday bar as it only consists of a couple of hours trade during a quiet time.

When trading the daily you want a full days trading to base your trades on.
  • #25,415
  • Mar 30, 2009 5:13pm Mar 30, 2009 5:13pm
Quoting albchr
Thanks MM (and everyone). This is my first day in here and I've been reading my butt off from page 1. When I hit Jduester's J16 Chart Thread Summary I just started going down the list of posts...LOL

I'll start on Mike's next. Geezz...will this leave me any time to trade...LOL (Kidding)
albchr, check the attachments (upper right corner next to page numbers) you will find a "summary of James16 Thread" parts 1 and 2. they are a compilation of this thread including Jduester's summary. It will give you a jump start while you are reading through the actual thread.

Good luck;

Seb (Compiler )
  • #25,416
  • Mar 30, 2009 5:14pm Mar 30, 2009 5:14pm
Hey guys check out the hourly pin thats trying to form on the EUR/JPY. May be a nice little spot to make a entry on the weekly pin. Is this a bad idea?

I'll post a picture shortly.
  • #25,417
  • Mar 30, 2009 5:14pm Mar 30, 2009 5:14pm
Quoting TotalNewbie
Thanks for the help. I still have sooo much to learn. I missed the fact that it wasn't a swing high but it does encompass the previous bar, right ,or is the previous bar too small to count?
sorry. thats my fault.
the small one you see is the sunday bar. we ignore that bare here.. i didnt even see it sorry.

to look at all the basics go to the start of the thread. you will find a lot of info that will give you a base to start with.
  • #25,418
  • Mar 30, 2009 5:17pm Mar 30, 2009 5:17pm
Quoting alter
I take DHLC only if the close of second bar is below previous bar low. This is some aggressive setup. Or maybe you mean 2 matching highs to play trend continuation breakout?
Actually alter, i saw the low of the second bar lower than the first, i missed the fact that the close was not actually below the second bar's close. Ummm still need practice, thanks for enlighting me.

Seb
  • #25,419
  • Mar 30, 2009 5:17pm Mar 30, 2009 5:17pm
I feel that the key aspect of this trading style is “SPACE”. When there is a “SPACE” along with a PA bar setup the trade runs for you like a race. When there are resistance / support / Bar low and high areas around your entry point you probably need to ask yourself why I am giving away my hard earned money to the market? In these cases even the most beautifully looking bar has a very good chance to fail

My analogy to this trading is the PA bar is the most beautiful girl in a room. When the room is empty “space is there” you can make friends with the girl or may even get lucky with a date. High chances of a winning trade!! But when the room is full (lack of space) or has lot of good lucking guys around (Support and resistance) you have a more than 50 % chance of a let down. Losing trade!

Thanks Jim and everyone for introducing this. Mqb11 I saw your pinbar introduction video on the website and this thing was clear like a bell
  • #25,420
  • Mar 30, 2009 5:18pm Mar 30, 2009 5:18pm
Quoting mooncricket
Hey guys check out the hourly pin thats trying to form on the EUR/JPY. May be a nice little spot to make a entry on the weekly pin. Is this a bad idea?

I'll post a picture shortly.
45 mins to go. dont get excited yet
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