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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

  • #41,101
  • Aug 16, 2009 9:09am Aug 16, 2009 9:09am
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...
Hi,
can you please tell how you create a ppz since i am using only fibs from different highs to different lows on a daily chart. i am just getting confused
  • #41,102
  • Aug 16, 2009 9:17am Aug 16, 2009 9:17am
Please experts critique my noob analysis..........

On weekly I'm seeing a BUOB at the 365 and at a past strong resistance area.

On daily, I'm seeing a BUOB again at the strong resistance area. Notice the bearish pin that was quickly rejected at that area.

Thanks.
Bryan
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraudd.gif Size: 14 KB
Click to Enlarge Name: euraudw.gif Size: 15 KB
  • #41,103
  • Aug 16, 2009 9:30am Aug 16, 2009 9:30am
Quoting Bryan
Please experts critique my noob analysis..........

On weekly I'm seeing a BUOB at the 365 and at a past strong resistance area.

On daily, I'm seeing a BUOB again at the strong resistance area. Notice the bearish pin that was quickly rejected at that area.

Thanks.
Bryan
Quickly before I leave for church. I think that a conservatively managed long from what I see on daily is a reasonable trade. I see some resistance at 7200 (see chart). I also see divergence. I will likely take a long position based on 1 or 4hr pa here if we see a retrace of 50-61.8 of the BUOB. Hope that kind of helps you. Just my opinion. Good trading!

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: eurauddaily.gif Size: 53 KB
  • #41,104
  • Aug 16, 2009 9:42am Aug 16, 2009 9:42am
Quoting KissFan
Quickly before I leave for church. I think that a conservatively managed long from what I see on daily is a reasonable trade. I see some resistance at 7200 (see chart). I also see divergence. I will likely take a long position based on 1 or 4hr pa here if we see a retrace of 50-61.8 of the BUOB. Hope that kind of helps you. Just my opinion. Good trading!

K.I.S.S.


Thanks Fan.

Looks like we're coming off a double bottom on the 4hr.
  • #41,105
  • Aug 16, 2009 11:41am Aug 16, 2009 11:41am
Hi guys,

Just in case anyone wants to do some testing on Inside bars on Multi Timeframe can use this indicator

Just set the period to 1440 for Daily and 240 for H4

Hope it helps and remember to post any findings here lolz
Attached File(s)
File Type: mq4 InnOutBar_mtf.mq4   3 KB | 608 downloads
  • #41,106
  • Aug 16, 2009 12:47pm Aug 16, 2009 12:47pm
Quoting tradertt
Hi guys,

Just in case anyone wants to do some testing on Inside bars on Multi Timeframe can use this indicator

Just set the period to 1440 for Daily and 240 for H4

Hope it helps and remember to post any findings here lolz
Would you elaborate a bit?

Like what do you mean by "testing on Inside bars on Multi Timeframe" precisely?
I believe . . .
  • #41,107
  • Aug 16, 2009 12:48pm Aug 16, 2009 12:48pm
Quoting MPP
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.

Attachment


food for thought only.

regards

MPP
Yeah good idea,

thnx for the intimation.

G
I believe . . .
  • #41,108
  • Aug 16, 2009 12:54pm Aug 16, 2009 12:54pm
Quoting Bryan
Please experts critique my noob analysis..........

On weekly I'm seeing a BUOB at the 365 and at a past strong resistance area.

On daily, I'm seeing a BUOB again at the strong resistance area. Notice the bearish pin that was quickly rejected at that area.

Thanks.
Bryan
You've got a fair pair of eye balls Bryan,

The best part abt the setup has got to be the location.

And we know what role does "location" play in the validity of the setup,

Like Kiss said it isn't heading into a "vacuum" but a carefully managed trade should surely yield some sweet pips.

All the best,

Ghous;.
I believe . . .
  • #41,109
  • Aug 16, 2009 12:59pm Aug 16, 2009 12:59pm
Cause what you are testing is actually say Inside bar on D1 and you go down to H4 to see if it closes above the D1 inside bar right?

If that is so, this indicator can show on the H4 timeframe the high and low of a D1 inside bar to do the backtesting.
  • #41,110
  • Aug 16, 2009 1:04pm Aug 16, 2009 1:04pm
Quoting tradertt
Cause what you are testing is actually say Inside bar on D1 and you go down to H4 to see if it closes above the D1 inside bar right?

If that is so, this indicator can show on the H4 timeframe the high and low of a D1 inside bar to do the backtesting.
oh,

I c...

thnx.
I believe . . .
  • #41,111
  • Aug 16, 2009 1:54pm Aug 16, 2009 1:54pm
Quoting mkashifk
Hi,
can you please tell how you create a ppz since i am using only fibs from different highs to different lows on a daily chart. i am just getting confused
Hi,

Go here and watch the videos about pivot zones and confluence. I recommend you watch all the material.

http://james16group.us/Guests/guestmaterial.html

Basically PPZ are important zones where price flips. Zones where price finds important support and/or resistence.

Zoom out a weekly chart and identify these zones, then you go down to daily and do the same and so on if you want.

Hope this helps,
Luso
  • #41,112
  • Aug 16, 2009 1:56pm Aug 16, 2009 1:56pm
Quoting ghous
You've got a fair pair of eye balls Bryan,

The best part abt the setup has got to be the location.

And we know what role does "location" play in the validity of the setup,

Like Kiss said it isn't heading into a "vacuum" but a carefully managed trade should surely yield some sweet pips.

All the best,

Ghous;.

Thanks Ghous! I feel greatly encouraged by your reply.
  • #41,113
  • Aug 16, 2009 2:08pm Aug 16, 2009 2:08pm
Hi folks,
Hope all you fellow traders had a great weekend, no its time to get back to the charts and look for PA.

Im going to play the break of this bearish outside bar on daily, at swing high, divergence and at 61.8 of large move down.

Good trading guys.

Mark
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Outside bar.jpg Size: 138 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #41,114
  • Aug 16, 2009 2:48pm Aug 16, 2009 2:48pm
Quoting tac
Hi folks,
Hope all you fellow traders had a great weekend, no its time to get back to the charts and look for PA.

Im going to play the break of this bearish outside bar on daily, at swing high, divergence and at 61.8 of large move down.

Good trading guys.

Mark
Hello Mark,

I won't take that trade. Please read the charts below, I think it can be helpful.

Ben

Daily chart:

http://img219.imageshack.us/img219/6180/56251418.jpg


4H chart:

http://img80.imageshack.us/img80/9440/1k23.jpg
  • #41,115
  • Aug 16, 2009 2:54pm Aug 16, 2009 2:54pm
Quoting benji533
Hello Mark,

I won't take that trade. Please read the charts below, I think it can be helpful.

Ben

Daily chart:

http://img219.imageshack.us/img219/6180/56251418.jpg


4H chart:

http://img80.imageshack.us/img80/9440/1k23.jpg

Hey Ben, thanks for that advice. I agree that divergence can be a killer in trends, however that coupled with the bar and the fib gives me enough to take the trade. I dont look at the 4hr when looking for reasons not to trade or for ppz when trading the daily. The daily pa trumps any ppz on 4hr, I also am worried about how sure you sound about where you think price is going, everything is probabilities and you should remember that.

As a note pin bars like that after steep declines are usually just profit taking and a pause, be careful if you are playing it.

Thanks

Mark
I hear and I forget. I see and I remember. I do and I understand.
  • #41,116
  • Aug 16, 2009 2:59pm Aug 16, 2009 2:59pm
Quoting tac
Hey Ben, thanks for that advice. I agree that divergence can be a killer in trends, however that coupled with the bar and the fib gives me enough to take the trade. I dont look at the 4hr when looking for reasons not to trade or for ppz when trading the daily.

Thanks

Mark

Usually I drop to a lower TF in order to choose the best entry, but that pin just jumped out at me when I saw it.
In addition, we are in an uptrend.

Anyway, hope it will work for you.
Good luck

Ben
  • #41,117
  • Aug 16, 2009 3:03pm Aug 16, 2009 3:03pm
Quoting benji533
Usually I drop to a lower TF in order to choose the best entry, but that pin just jumped out at me when I saw it.
In addition, we are in an uptrend.

Anyway, Good luck

Ben

Yeah it looks good but as I said pin bars after rapid declines can be just paused or profit taking. That against a weekly fib is insignificant, it might just mean a retrace of the outside bar on daily.
I hear and I forget. I see and I remember. I do and I understand.
  • #41,118
  • Aug 16, 2009 3:11pm Aug 16, 2009 3:11pm
Quoting benji533
Usually I drop to a lower TF in order to choose the best entry, but that pin just jumped out at me when I saw it.
In addition, we are in an uptrend.

Anyway, hope it will work for you.
Good luck

Ben
Also look at weekly it has a BEOB also.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Outside bar Weekly.jpg Size: 117 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #41,119
  • Aug 16, 2009 3:12pm Aug 16, 2009 3:12pm
Quoting mbqb11
Just wanted to send my welcomes and say first post? Nailed it!

Can't tell you the feeling us long timers get when a lurker comes out and nails it like that
Thank you mbqb, I will continue with all my strength to keep nailing it.

Regards.
  • #41,120
  • Aug 16, 2009 3:22pm Aug 16, 2009 3:22pm
Quoting tac
Yeah it looks good but as I said pin bars after rapid declines can be just paused or profit taking. That against a weekly fib is insignificant, it might just mean a retrace of the outside bar on daily.
Don't get me wrong. I didn't say it is a long trade. That pin isn't at swing low, and doesn't have much space. I did not plan to take it. But I use this information to give me a clue about what price is currently doing. It is a good enough sign for me to skip that trade though.

I do not feel comfortable with taking a bearish outside bar on daily, while we are in a overall uptrend and we have bullish signs on a lower TF (that less bothers me). The thing that bothers me more, is the fact that we are in a consolidation pause. Right, market is sideways 90% of time, but those consolidation boxes create an overall trend if you look at the big picture. Sorry if I sound too much confidated about where price is heading (you are right, all possibilities are open), but the fact is that when you have an uptrend that is build from boxes, usually what happens is a breakout in the direction of the trend and so on (right, of course not always). Now even if you look on the daily TF you can see we are consolidating.

I do not feel comfortable with that trade personally. But it is a personal issue. Just thought it can help you as a reminder to take into account. You are the only decision maker of your account after all.

You must remember that maybe it will work. Even if there is a quite good chance it will work, I PERSONALLY know that there are better setups to come. Maybe I am too much picky, but I just do what I am comfortable with and try to use my sense.

No offense or something like that.

Good luck.

Ben
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