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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

  • #25,961
  • Apr 2, 2009 11:16pm Apr 2, 2009 11:16pm
Quoting G550
What do you guys think of this outside bar on the 4 hour? Swing low, off of support, room to run up. Would like to see some more room but certainly enough to move stops to BE.

Thoughts?

Just wait for the break of the high of it...specially when we saw so much dollar getting sold
  • #25,962
  • Apr 2, 2009 11:27pm Apr 2, 2009 11:27pm
Here is another outside bar at a good resistance...
In other words what we are looking at is that the usd wants to gain value back. Meaning choose your favorite setup and take it , by no means take every trade since that would mean you would be buying dollars all over the market making it either a great winning night or a horrible trading night . So dont over expose your account.

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  • #25,963
  • Apr 2, 2009 11:37pm Apr 2, 2009 11:37pm
Quoting G550
What do you guys think of this outside bar on the 4 hour? Swing low, off of support, room to run up. Would like to see some more room but certainly enough to move stops to BE.

Thoughts?
Some thoughts.

It has potential g550, good eye.

I like that the Pin-ish bar (green box) did not fail.

I like your break even expectation.

It's a good setup. Is it the Best setup? No.
Let's see how hard she breaks.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #25,964
  • Apr 2, 2009 11:40pm Apr 2, 2009 11:40pm
Quoting Shermenator
Here is another outside bar at a good resistance...
In other words what we are looking at is that the usd wants to gain value back. Meaning choose your favorite setup and take it , by no means take every trade since that would mean you would be buying dollars all over the market making it either a great winning night or a horrible trading night . So dont over expose your account.

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Like it sherm.. you scalpin these retraces??? or looking at something more??
  • #25,965
  • Apr 2, 2009 11:43pm Apr 2, 2009 11:43pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, mike, pardon me to jump in your topic if I may. in the end of this post, you mentioned support/resistance, ppz...... it seems you differentiate these two concepts, what could be the difference between support/resistance and ppz? I am working hard to build up my awareness reading these components, so, please help me to see the subtlity.

what my current understanding about support/resistance and ppz is that they seem the same stuff, ppz is the flip of support and resistance across the time series. probably I missed something in between? hope could have better view on this subject. thank you

Quoting mbqb11
Yeah you can make this material work in MANY different ways. That is really the true beauty of understanding price. B/C personality can be a big problem for others. Trying to be something they are not. I take very few daily/weekly trades. When I do they usually are the best of the best, at least in my eyes. I then have my intraday trading off the 1hr and 4hr charts. I am still very picky mostly in regards to location and that is where I do my "day-trading" so to speak and makes up the majority in trader number terms. It is my interpretation of...
  • #25,966
  • Apr 2, 2009 11:47pm Apr 2, 2009 11:47pm
Quoting krue
Hi, mike, pardon me to jump in your topic if I may. in the end of this post, you mentioned support/resistance, ppz...... it seems you differentiate these two concepts, what could be the difference between support/resistance and ppz? I am working hard to build up my awareness reading these components, so, please help me to see the subtlity.

what my current understanding about support/resistance and ppz is that they seem the same stuff, ppz is the flip of support and resistance across the time series. probably I missed something in between? hope...
Nope you got it Krue. Sometimes you have just support, or just resistance, and the PPZ is the flip b/w the two



Mike
  • #25,967
  • Apr 2, 2009 11:48pm Apr 2, 2009 11:48pm
Quoting krue
Hi, mike, pardon me to jump in your topic if I may. in the end of this post, you mentioned support/resistance, ppz...... it seems you differentiate these two concepts, what could be the difference between support/resistance and ppz? I am working hard to build up my awareness reading these components, so, please help me to see the subtlity.

what my current understanding about support/resistance and ppz is that they seem the same stuff, ppz is the flip of support and resistance across the time series. probably I missed something in between? hope...
Hey Krue,
to me, a ppz, if drawn on the weekly could have a few other ppz's inside it.
this, to answer your que. is that you are right . s/r is a ppz just that s/r could be refered to individual bars & zones are zones...
hope i havent confused at all..
  • #25,968
  • Apr 2, 2009 11:49pm Apr 2, 2009 11:49pm
Quoting mbqb11
Nope you got it Krue. Sometimes you have just support, or just resistance, and the PPZ is the flip b/w the two



Mike
i have to ask what is your typing speed...?
  • #25,969
  • Apr 2, 2009 11:50pm Apr 2, 2009 11:50pm
Quoting rustyjeff
Like it sherm.. you scalpin these retraces??? or looking at something more??
Looks real good. Off of a Daily/Weekly PPZ.
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Indicators show the past. Price Action "Indicates" the future.
  • #25,970
  • Apr 2, 2009 11:50pm Apr 2, 2009 11:50pm
Quoting rustyjeff
i have to ask what is your typing speed...?
bloody young snappers & their new skills...
  • #25,971
  • Apr 2, 2009 11:52pm Apr 2, 2009 11:52pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
This helps, mike, after having the concept of ppz, I normally ignored just support or resistance, this igorance could lead to big mistake, I think, or probably the thing I declined to see. I feel pretty nervous about anything I couldn't see for the moment. but, I am very confident with your help, jm and other member, I am determined to breakthough, this has to be done. thank you, mike.


Quoting mbqb11
Nope you got it Krue. Sometimes you have just support, or just resistance, and the PPZ is the flip b/w the two



Mike
  • #25,972
  • Apr 3, 2009 12:02am Apr 3, 2009 12:02am
I'm trying to be good on this ! I hope will be soon!
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  • #25,973
  • Apr 3, 2009 12:07am Apr 3, 2009 12:07am
Quoting oltciter
I'm trying to be good on this ! I hope will be soon!
Very nice oltc. The key is its location. Check your daily and weekly charts on the Aud.
Indicators show the past. Price Action "Indicates" the future.
  • #25,974
  • Apr 3, 2009 12:19am Apr 3, 2009 12:19am
Quoting jarroo
Some thoughts.

It has potential g550, good eye.

I like that the Pin-ish bar (green box) did not fail.

I like your break even expectation.

It's a good setup. Is it the Best setup? No.
Let's see how hard she breaks.
Thanks, Jarroo. As others have noted, it's the night of outside bars! Let's see what happens. Oh and the Cad pin bar from yesterday did not exactly take off but worked out quite nicely in the end. But I am in total agreement with you on momentum.
  • #25,975
  • Apr 3, 2009 12:25am Apr 3, 2009 12:25am
AUDJPY 4h chart

Is it this Pinbar on 8h chart?
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  • #25,976
  • Apr 3, 2009 12:26am Apr 3, 2009 12:26am
Quoting jarroo
Very nice oltc. The key is its location. Check your daily and weekly charts on the Aud.
It's on top of the of weekly range (box). imho, very nice place to go short. I'd already called it a weekend,so no more trades for me since I close all my positions. Like rusty said in CW's thread, after great win, take it easy
  • #25,977
  • Apr 3, 2009 12:40am Apr 3, 2009 12:40am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting jarroo
Looks real good. Off of a Daily/Weekly PPZ.
Looks better on mine

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  • #25,978
  • Apr 3, 2009 12:44am Apr 3, 2009 12:44am
Hey Jarro, you don't sleep....

Quoting jarroo
Looks real good. Off of a Daily/Weekly PPZ.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,979
  • Apr 3, 2009 12:45am Apr 3, 2009 12:45am
Quoting arcus
It's on top of the of weekly range (box). imho, very nice place to go short. I'd already called it a weekend,so no more trades for me since I close all my positions. Like rusty said in CW's thread, after great win, take it easy
Let me clarify that a bit.

If a trade presents itself we should take it....
Just that when we are excited after a good trade or run of trades we have to be able to discern between overconfidence & a good trade. that becomes the learning right there. to repeat what you just did with no emotional influence.
I pull myself up all the time. Am I getting better or worse??
this gets easier as time goes on but we all still make misstakes. even the big dog.. & he will admit it too..
  • #25,980
  • Apr 3, 2009 12:48am Apr 3, 2009 12:48am
Quoting MPP
Looks better on mine
Looking good, J-Man.
Indicators show the past. Price Action "Indicates" the future.
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