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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

  • #26,741
  • Apr 9, 2009 2:07pm Apr 9, 2009 2:07pm
Quoting fxprocessor
I didnt take this trade as it is in traffic.

Attached chart shows a clear PPZ and don't forget these are zones.

We want to see these bars after clear buying or selling and need a trend to reverse.

cheers

fxp
thnx fxpro
point taken
appreciate the help, cheers
Simplicity is the key to success
  • #26,742
  • Apr 9, 2009 2:09pm Apr 9, 2009 2:09pm
Quoting mbqb11
absolutely

Price action is universal so to speak....
Thanks Mike,

I admire you as a trader and have viewed many of your webinars as a J16 pf member. I think you and Jim have given so much to new traders its almost criminal when they dont listen or practice what you guys advise. I guess its down to patience, people want to hear they can turn 5k into 50k in 3 months. If they just spent a year learning and practicing they could become a consistent trader who could build a good account in a few years.

Keep up the amazing work, and thanks again.

Mark
Economists have forecast 9 out of the last 5 recessions
  • #26,743
  • Apr 9, 2009 2:10pm Apr 9, 2009 2:10pm
Quoting markmm
Thanks Mike,

I admire you as a trader and have viewed many of your webinars as a J16 pf member. I think you and Jim have given so much to new traders its almost criminal when they dont listen or practice what you guys advise. I guess its down to patience, people want to hear they can turn 5k into 50k in 3 months. If they just spent a year learning and practicing they could become a consistent trader who could build a good account in a few years.

Keep up the amazing work, and thanks again.

Mark
Thanks for the nice comments Mark they are much appreciated
  • #26,744
  • Apr 9, 2009 2:27pm Apr 9, 2009 2:27pm
cld u guys pls comment on this trade i took, wld like to hear wat u guys think of it....
i closed half at the red line and moved to be immediately, jst want to hear wat u guys think of the trade
ur comments are appreciated,thnx
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf...gif Size: 12 KB
Simplicity is the key to success
  • #26,745
  • Apr 9, 2009 2:45pm Apr 9, 2009 2:45pm
Quoting squeezy
thnx fxpro
point taken
appreciate the help, cheers
You are welcome squeezy.

We all watch and learn.
  • #26,746
  • Apr 9, 2009 2:50pm Apr 9, 2009 2:50pm
Quoting squeezy
cld u guys pls comment on this trade i took, wld like to hear wat u guys think of it....
i closed half at the red line and moved to be immediately, jst want to hear wat u guys think of the trade
ur comments are appreciated,thnx
This is what I see. Your BUOB just stuck its nose into or above the S/R or PPZ area. Price got above the majority of orders and set the stage to the next level. Look at yesterday's close. Not enough rejection there to tell me we are now going short, had I traded that setup.
I need to add, I personally would not have traded it.
Attached Image (click to enlarge)
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  • #26,747
  • Apr 9, 2009 2:53pm Apr 9, 2009 2:53pm
Quoting HipsterPipster
This is what I see. Your BUOB just stuck its nose into or above the S/R or PPZ area. Price got above the majority of orders and set the stage to the next level. Look at yesterday's close. Not enough rejection there to tell me we are now going short, had I traded that setup.
I need to add, I personally would not have traded it.
I think that the area of 9500 bears watching on this one.
Patience + Humility + Study = Success
  • #26,748
  • Apr 9, 2009 3:01pm Apr 9, 2009 3:01pm
Quoting DutchTrader
I think that the area of 9500 bears watching on this one.
Yeah, price holding strong where it is.
  • #26,749
  • Apr 9, 2009 3:33pm Apr 9, 2009 3:33pm
ive seen some very good break downs of this.

here is mine.

Quoting squeezy
cld u please explain y this pin on eurusd failed, im curious......lol
i thought it was a well shaped pin to trade, guess i was wrong....
i kno theres more to it, in terms of location and all
wouldnt mind if u guys cld shed some light on this
Attached Image (click to enlarge)
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  • #26,750
  • Apr 9, 2009 3:34pm Apr 9, 2009 3:34pm
Quoting HipsterPipster
This is what I see. Your BUOB just stuck its nose into or above the S/R or PPZ area. Price got above the majority of orders and set the stage to the next level. Look at yesterday's close. Not enough rejection there to tell me we are now going short, had I traded that setup.
I need to add, I personally would not have traded it.
thnx hipster,its always good to hear other people's opinion at times....
i was simply following the trend and when it broke the ppz wit the buob, i felt it was time to go long....
im interested in the pfgroup as well but need to be well grounded b4 i join, still hav a lot of homework to do but im happy dat its moving in a +ve direction slowly but surely.
wit the help from u guys ,its only a matter of time, which im patient enuff to give
thnx again
cheers
Simplicity is the key to success
  • #26,751
  • Apr 9, 2009 3:41pm Apr 9, 2009 3:41pm
Hi there,

Thank you for such a a nice thread really helpful. In last month i have read only this thread and skip to all others as i have find here so much new info. I need to reed a lot of pages from beginning so hope to fined more answers on my questions. But, my be, some of you have saved exact link to price action. i have read all around everything, so many are talking about price action and so on, but i cant figure out how to read this price action. If some of you could help with that i wold be very appreciate.
Thank you once more, just for that that in this world still people who shear with such helpful information.

P.S. Sorry for my English.
  • #26,752
  • Apr 9, 2009 3:49pm Apr 9, 2009 3:49pm
WELCOME DZ,

very simple what we do here. just get involved and btw your english is fine.

jim

Quoting dzero
Hi there,

Thank you for such a a nice thread really helpful. In last month i have read only this thread and skip to all others as i have find here so much new info. I need to reed a lot of pages from beginning so hope to fined more answers on my questions. But, my be, some of you have saved exact link to price action. i have read all around everything, so many are talking about price action and so on, but i cant figure out how to read this price action. If some of you could help with that i wold be very appreciate.
Thank you once more, just for...
  • #26,753
  • Apr 9, 2009 3:50pm Apr 9, 2009 3:50pm
Quoting james16
ive seen some very good break downs of this.

here is mine.
thnx jim, very powerful stuff there with the emas, im trying to master the s/r ,ppz before i throw in emas, i want to take things one step at a time, i have time ...this is something i see myself still doing in decades to come..LORD willing
wat i see now is a beob which closes on my feed in 15 mins...
would it be wise to enter on a break of the bar , having in mind the ppz below at 1.3050 area, moving fast to be after taking partial profit would be the way i wld play it......imo
thnkk u all for the support
i feel at home here...
cheers
Simplicity is the key to success
  • #26,754
  • Apr 9, 2009 3:55pm Apr 9, 2009 3:55pm
Yes FF gave me back my "powers" some time ago but i rarely if ever use them.

Thats the first time in years.

  • #26,755
  • Edited 7:51pm Apr 9, 2009 4:04pm | Edited 7:51pm
Quoting james16
ive seen some very good break downs of this.

here is mine.
Took a -30 pip loss on this one, because I got away from my trading plan.

I didn't do #1., #2., #3. and definetly not #4.

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

Notice a strong s/r area just beyond our pa if it exists.

Know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.

The hard break AWAY from the 1.3350 S/R level (Daily 150 ema in blue on the Daily and Hourly) was also a clear sign for me. I guess I wanted more then 20 pips before moving to break even.

Thanks Jim

Always learning and improving.

Jim
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #26,756
  • Apr 9, 2009 4:04pm Apr 9, 2009 4:04pm
Quoting james16
everyone that quoted his post delete yours please.
i have a real dislike of using my powers.
seriously.
thanks,
jim

did not notice u were around, Sir! fast proactive action on your part!

those kinds of posts really get me hot-headed, i had to log in & respond
it's almost 5am here , good thing i was still up to delete mine ASAP...

It's all back to normal now.....




squeezy,
just keep on doing it!!

Quote
thnkk u all for the support
i feel at home here...
  • #26,757
  • Apr 9, 2009 4:04pm Apr 9, 2009 4:04pm
Quoting squeezy
thnx hipster,its always good to hear other people's opinion at times....
i was simply following the trend and when it broke the ppz wit the buob, i felt it was time to go long....
im interested in the pfgroup as well but need to be well grounded b4 i join, still hav a lot of homework to do but im happy dat its moving in a +ve direction slowly but surely.
wit the help from u guys ,its only a matter of time, which im patient enuff to give
thnx again
cheers
Your welcome, and you are doing fine. Understanding this material is really not too difficult for someone determined. The real battle to being profitable has much more to do with our understanding and mastering of our emotions, being disciplined, and having a solid understanding of positions sizing/account size. Keep up the good work!

And this is not to make light of this thread. This has been a big part of my training too!
  • #26,758
  • Apr 9, 2009 4:12pm Apr 9, 2009 4:12pm
yeah but what all of should pay attention to in j's post is the part about only taking a 30 pip loss.

i still take losses of course and often im totally shocked at what price "has not done."

in those cases i never let the loss get out of hand.

30 pips in this situation is a sign of trading maturity in every sense.

jim

Quoting jarroo
Took a -30 pip loss on this one, because I got away from my trading plan.

I didn't do #1., #2., #3. and definetly not #4.

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay...
  • #26,759
  • Apr 9, 2009 4:14pm Apr 9, 2009 4:14pm
you da man supreme.



Quoting supremeChaos
did not notice u were around, Sir! fast proactive action on your part!

those kinds of posts really get me hot-headed, i had to log in & respond
it's almost 5am here , good thing i was still up to delete mine ASAP...

It's all back to normal now.....




squeezy,
just keep on doing it!!
  • #26,760
  • Apr 9, 2009 4:14pm Apr 9, 2009 4:14pm
Quoting HipsterPipster
Your welcome, and you are doing fine. Understanding this material is really not too difficult for someone determined. The real battle to being profitable has much more to do with our understanding and mastering of our emotions, being disciplined, and having a solid understanding of positions sizing/account size. Keep up the good work!

And this is not to make light of this thread. This has been a big part of my training too!
thnk hipster
really appreciate ur kind comments
its good to kno im doin smthing right
Simplicity is the key to success
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