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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

  • #41,081
  • Aug 15, 2009 9:00pm Aug 15, 2009 9:00pm
Quoting mkashifk
Hi,
after reading alot of times reading the thread, this is what I got....i think that the price is going to go down but would like to know what all the gurus think
Happy trading

Well, check out the weekly. Pin bar (Did you get in it?), then a drop into a consolidation area.

Divergence

At the 61.8% fib

Eyes are wide open. Let's get some PA to get in if we are not in it already.

...
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I'm pretty much done with all this ...
  • #41,082
  • Aug 15, 2009 9:01pm Aug 15, 2009 9:01pm
Quoting fxvision
NZD/USD daily pin bar off highs. Daily and weekly bearish divergence.
Hey - did the room just get brighter? Did the clouds lift and the fog blow off?

Hey - almost 2 years since your last post. I hope you are here to stay - loved your goodness on the PF and here too.
I'm pretty much done with all this ...
  • #41,083
  • Aug 15, 2009 10:04pm Aug 15, 2009 10:04pm
Quoting tradertt
Thank you for explaining. I understand what you are talking about.

1. Can I assume regarding PPZs alone, If I am trading the H4, Daily and Weekly Time frames, we can base it off the Daily and weekly PPZs and we need not use the H4 PPZs as a guide for PA. But of course, when the PA is formed, we have to analyse the first trouble area and see if there is enough space for it to run to allow us to take profit and move stop to BE.

2. If we trade on the H1 timeframe, which I am not doing currently, is it also good enough just to use the Daily and...
1. Yes, disregard PA setups off the 4 hour PPZ levels and use the Daily/ Weekly PPZ levels for 4 hour PA.

2. You can use Hourly PA setups off a 4 hour PPZ level, but your setup will be stronger and have more chances to go to the moon when the Hourly PA is off the Daily/Weekly PPZ levels.
Indicators show the past. Price Action "Indicates" the future.
  • #41,084
  • Edited 11:24pm Aug 15, 2009 10:33pm | Edited 11:24pm
Quoting fxvision
NZD/USD daily pin bar off highs. Daily and weekly bearish divergence.
Nice PB. Not feeling the Weekly divergence on MACD, maybe its on another study. Hard to say without a chart.

Quoting mkashifk
Hi,
after reading alot of times reading the thread, this is what I got....i think that the price is going to go down but would like to know what all the gurus think
Happy trading
Quoting mkashifk
Another one...i think that this is yelling about the price action, but since i am still trying to learn how to crawl, would like to see the comments from the gurus. happy trading

We are not really "gurus", we just been studying and practising Price Action, the J16 way, a little longer then most people. You will soon realize that after some time and practise with this method of trading that you can be a "guru" yourself.

The area you have indicated on your charts as "Confluence" is actually a PPZ level. Confluence is when we have a PPZ level lining up with or coming together with another technical analysis tool., i.e. long term MAs, Fib levels, 50% retracement levels, MACD divergence, etc.

My chart shows the confluence of a PPZ level with the 365 ema (in black). Blue areas are my Price Targets on the Pin Bar.

Edit : The "PPZ Level" on my chart actualy lines up (pretty close) with the 50% retracement level on the Weekly. So this level has confluence: PPZ level and 50% retracement.
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Indicators show the past. Price Action "Indicates" the future.
  • #41,085
  • Aug 15, 2009 10:47pm Aug 15, 2009 10:47pm
Quoting StoragePro
Well, check out the weekly. Pin bar (Did you get in it?), then a drop into a consolidation area.

Divergence

At the 61.8% fib

Eyes are wide open. Let's get some PA to get in if we are not in it already.

...

Where were you last weekend, SP?

http://www.forexfactory.com/showpost...ostcount=40405


http://www.forexfactory.com/showpost...ostcount=40427
Indicators show the past. Price Action "Indicates" the future.
  • #41,086
  • Aug 15, 2009 10:55pm Aug 15, 2009 10:55pm
Quoting jarroo
Where were you last weekend, SP?

http://www.forexfactory.com/showpost...ostcount=40405


http://www.forexfactory.com/showpost...ostcount=40427
Damn. I was off into the wild blue yonder most of it.

Ya know, I don't *know* what that damn thing is gonna do. If I did, I can tell you this - it will be my last trade EVAR!

I have a good idea though - If PA means anything. And in the mean time, MM.
I'm pretty much done with all this ...
  • #41,087
  • Aug 15, 2009 11:15pm Aug 15, 2009 11:15pm
Quoting StoragePro
Damn. I was off into the wild blue yonder most of it.

Ya know, I don't *know* what that damn thing is gonna do. If I did, I can tell you this - it will be my last trade EVAR!

I have a good idea though - If PA means anything. And in the mean time, MM.
I'm wondering if we are going to be bouncing around in that consolidation area for a while. Only time (and PA ) will tell.
Indicators show the past. Price Action "Indicates" the future.
  • #41,088
  • Aug 15, 2009 11:26pm Aug 15, 2009 11:26pm
Quoting jarroo
I'm wondering if we are going to be bouncing around in that consolidation area for a while. Only time (and PA ) will tell.
Perhaps - Look at he monthly. Areas of consolidation in the past turn into area of consolidation in the future very frequently. I personally like ranges. Nice and safe place to play.

I like where we are with this pair. It is quite a nice pair. And I know my pairs.

Drop baby, drop like a rock.
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I'm pretty much done with all this ...
  • #41,089
  • Aug 15, 2009 11:31pm Aug 15, 2009 11:31pm
Quoting StoragePro
Perhaps - Look at he monthly. Areas of consolidation in the past turn into area of consolidation in the future very frequently. I personally like ranges. Nice and safe place to play.

I like where we are with this pair. It is quite a nice pair. And I know my pairs.

Drop baby, drop like a rock.

A good place as any to repeat itself again.

Your lips to Price's ear, SP. lol
Indicators show the past. Price Action "Indicates" the future.
  • #41,090
  • Aug 16, 2009 2:38am Aug 16, 2009 2:38am
Quoting StoragePro
Hey - did the room just get brighter? Did the clouds lift and the fog blow off?

Hey - almost 2 years since your last post. I hope you are here to stay - loved your goodness on the PF and here too.
Hey SP. Nice to see you too, thanks. Had some personal stuff I had to take care off. Below is a view on the hidden divergence on the weekly chart. Weekly 365 also in play.

http://www.peippoconsult.dk/billeder...16-08-2009.jpg
Always wait for the opportune moment… just be careful not to miss it.
  • #41,091
  • Aug 16, 2009 2:57am Aug 16, 2009 2:57am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting StoragePro
Perhaps - Look at he monthly. Areas of consolidation in the past turn into area of consolidation in the future very frequently. I personally like ranges. Nice and safe place to play.

I like where we are with this pair. It is quite a nice pair. And I know my pairs.

Drop baby, drop like a rock.
same pair - same view - different settings

Monthly (candle yet to finish) testing the 200ma and 50% fib (pivot point on my fibs), this is clearer on the weekly charts but has a test of the 100ma with a nice PB, and on the daily we broke through the TL - retested it - 1.6350 is a bit of an issue. i missed playing the wk PB, hope someone made some of it

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  • #41,092
  • Aug 16, 2009 2:59am Aug 16, 2009 2:59am
Quoting fxvision
Hey SP. Nice to see you too, thanks. Had some personal stuff I had to take care off. Below is a view on the hidden divergence on the weekly chart. Weekly 365 also in play.
Ah,

Welcome back Fxvision.
I believe . . .
  • #41,093
  • Aug 16, 2009 4:23am Aug 16, 2009 4:23am
yes ghous,
it's awesome to see fxvision posts after almost 2 yrs.
Hopefully, it's a start of a "trend" from him



MPP,
i saw this post first on strat's thread.... only to find later that u posted it here first.
  • #41,094
  • Aug 16, 2009 7:09am Aug 16, 2009 7:09am
I was back testing with some IBs this weekend and the results are pretty good,

Looks like It's time we should put aside the cliche that "IBs are subtle and difficult" and look into the stuff we already know to trade these beauties...

I am now completely with Mike (mike w) when he says that a pending order below an IB is just a blind trade, and no doubt that by doing this the trader falls into the "false break" trap.

The best way to play them is to find a daily/weekly IB as a consolidation zone on a lower time frame and play a "logical break" where price has to close and preferably retest the consolidation range for a trade confirmation...

These are just a few of the setups I scrutinized, these are all either IBs on the daily or tiny bars like dojis and indecision bars representing the consolidation on the daily itself. Sorry If I am repeating any setup Mike already discussed cuz it's the same pair he did the test on - Eu.

Thanks Mike for a wonderful contribution.

Regards,
Ghous.
Attached Images
I believe . . .
  • #41,095
  • Edited 7:12am Aug 16, 2009 7:10am | Edited 7:12am
AUDUSD Weekly closed as DBHLC (7 pips difference).

1) Last 2 weeks price closed under Weekly 61.8 Fib
2) Last 2 weeks price was unable to pass round number 85.00 and previous resistance of 85.18 (9/29/08)
3) Hidden Weekly Bearish Divergence
4) Daily closed as Bearish Outside Bar
5) Regular Daily Bearish Divergence

Would appreciate expert comments.

Alifari
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The purpose of knowledge is action, not knowledge
  • #41,096
  • Edited 7:38am Aug 16, 2009 7:27am | Edited 7:38am
Quoting ghous
I was back testing with some IBs this weekend and the results are pretty good,

Looks like It's time we should put aside the cliche that "IBs are subtle and difficult" and look into the stuff we already know to trade these beauties...

I am now completely with Mike (mike w) when he says that a pending order below an IB is just a blind trade, and no doubt that by doing this the trader falls into the "false break" trap.

The best way to play them is to find a daily/weekly IB as a consolidation zone on a lower time frame and play a "logical...
Great stuff,

When i started out at IB's i got some false breakout's so i changed the strategy altogether but some one made an EA and results were not good (that happens to good systems also) so i moved away from it but i still keep them in my charts so i know that i am not buying at high of an IB or vice versa.
  • #41,097
  • Aug 16, 2009 7:41am Aug 16, 2009 7:41am
Thank you for posting this Jeff, it is really in my opinion is a great post. Doesn't it though go against what the Jims (j16 & Jarroo) always say about not making a winner turns into a loser.

Thanks again especially to those seniors that have started to post back in the thread.


Cheers





Quoting rustyjeff
Your getting there... & what i put here is not aimed at you but all traders going through the seemingly endless cycle of breakeven...

I'm going to take this opportunity to share something that made the difference for me when trying to become consistantly profitable.. let me say first, that it did not happen overnight. It took 'some' time & a deep struggle internally to accept what works & what doesnt.
NOTE.. I am still working on getting better all the time as I think all traders do.. To streamline & make trading as efficient as possible..

First....
  • #41,098
  • Aug 16, 2009 7:55am Aug 16, 2009 7:55am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ghous
I was back testing with some IBs this weekend and the results are pretty good,


Regards,
Ghous.

Hi Ghous
and anyone else looking at IB's

each pair has it's own settings and i'm still testing myself, but for EU add a 20sma close with a 150point band (usually needs 1500 & -1500 in the levels box)
long above/short below - enough said.

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food for thought only.

regards

MPP
  • #41,099
  • Aug 16, 2009 8:57am Aug 16, 2009 8:57am
Quoting jarroo
Nice PB. Not feeling the Weekly divergence on MACD, maybe its on another study. Hard to say without a chart.






We are not really "gurus", we just been studying and practising Price Action, the J16 way, a little longer then most people. You will soon realize that after some time and practise with this method of trading that you can be a "guru" yourself.

The area you have indicated on your charts as "Confluence" is actually a PPZ level. Confluence is when we have a PPZ level lining up with or coming together with another technical...
I got the ppz level (thanks for the correction above) by charting various fib levels on the daily. In fact I had not thought of checking it on the weekly chart but after your explanation I see the 50% retracement near the ppz. If I understood correctly now its a confluence since it has the ppz and a fibs retracement. I am still not very confident on macd and ema (still learning ). Am i getting somewhere or I have missed something?
  • #41,100
  • Aug 16, 2009 9:01am Aug 16, 2009 9:01am
Quoting StoragePro
Well, check out the weekly. Pin bar (Did you get in it?), then a drop into a consolidation area.

Divergence

At the 61.8% fib

Eyes are wide open. Let's get some PA to get in if we are not in it already.

...
Yes infact I had detected it last wk but I did not played it. Happy trading.
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