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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

  • #42,781
  • Sep 1, 2009 3:36am Sep 1, 2009 3:36am
Quoting jarroo
You have identified the correct PA formations. Is there any other supporting confluences in structure ( i.e. size , shape, relation to preivous candles, swing High/Low etc), traffic density (i.e. "This is Critial") and/or Fib levels, MACD divergence, round numbers, 50% retracement levels . etc.

Formations are great especially at a swing High or Low. The more supporting confluences we have the better to help our decision to take a trade.

My 2 dirhams worth; waiting on this one because it may reject the PPZ it is trying to battle through. I.e. I am looking for either a strong move to close under the ppz, retrace to the PPZ & PA to confirm it has been rejected and moving down, OR PA at PPZ to confirm its rejection and a move up. Either way for once I am showing greater patience than prior trades.

Am I on track?
  • #42,782
  • Sep 1, 2009 3:37am Sep 1, 2009 3:37am
Quoting jarroo
46 pips on the 1st half and break even on the 2nd.
Hi Jarroo

Did you play a reduced stop on this daily PB trade? If so where did you place it?

Thanks
  • #42,783
  • Sep 1, 2009 3:38am Sep 1, 2009 3:38am
Quoting datogio
Sloped out with BE first half and a small loss on the second.

My plan worked, just another tinny loss.

She bounced from the zone I was expecting.

Nicely done datogio.

PA in consolidation areas are a bit tricky. Protecting yourself is key. It did go where you (we) expected it and they always tend to bounce, sometimes a little, sometimes alot.
Indicators show the past. Price Action "Indicates" the future.
  • #42,784
  • Sep 1, 2009 3:47am Sep 1, 2009 3:47am
Quoting pmn100
Hi Jarroo

Did you play a reduced stop on this daily PB trade? If so where did you place it?

Thanks
Yes, I played a very tight stop loss on this one about 30 pips. Once it broke and ran a bit ( about 25 pips) I move to break even. It it broke and then ran against me hard, I probably would have gotten out earlier then a 30 pip loss.
Indicators show the past. Price Action "Indicates" the future.
  • #42,785
  • Sep 1, 2009 3:48am Sep 1, 2009 3:48am
Quoting jarroo
Nicely done datogio.

PA in consolidation areas are a bit tricky. Protecting yourself is key. It did go where you (we) expected it and they always tend to bounce, sometimes a little, sometimes alot.
This time it seemed like bounced a lot. expected trouble zones is the biggest value that a trader can have. I was just fulfilling my rules that I learned here thanks to a lot of experienced guys (you are in the top of the list Jaroo ) and then found my style based on backtesting and demoing.
  • #42,786
  • Sep 1, 2009 3:52am Sep 1, 2009 3:52am
Quoting datogio
This time it seemed like bounced a lot. expected trouble zones is the biggest value that a trader can have. I was just fulfilling my rules that I learned here thanks to a lot of experienced guys (you are in the top of the list Jaroo ) and then found my style based on backtesting and demoing.
I learned from the best, brother. The big guy, Mike and many others.

And found my own stlye as well.

Man, isn't great datogio, when they just take off and never look back. lol

The next one will do that.
Indicators show the past. Price Action "Indicates" the future.
  • #42,787
  • Sep 1, 2009 3:55am Sep 1, 2009 3:55am
Quoting jarroo
I learned from the best, brother. The big guy, Mike and many others.

And found my own stlye as well.

Man, isn't great datogio, when they just take off and never look back. lol

The next one will do that.
Yep, thats what I'm looking for, armed with discipline and patience.

The rest is Just about time.
  • #42,788
  • Sep 1, 2009 3:57am Sep 1, 2009 3:57am
Quoting datogio
Yep, thats what I'm looking for, armed with discipline and patience.

The rest is Just about time.
Amen.
Indicators show the past. Price Action "Indicates" the future.
  • #42,789
  • Sep 1, 2009 4:02am Sep 1, 2009 4:02am
Quoting jarroo
This kid is like butter . . . he's on a roll.
I'd never heard that before, that is great.


Quote
Mike, are you sure you don't have any kids?

I think its either dual accounts or a genetic clone.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #42,790
  • Sep 1, 2009 4:05am Sep 1, 2009 4:05am
Quoting LasVahGoose
I'd never heard that before, that is great.

I think its either dual accounts or a genetic clone.
I knew it. Mike is building genetic mutants to take over the markets.
Indicators show the past. Price Action "Indicates" the future.
  • #42,791
  • Sep 1, 2009 4:07am Sep 1, 2009 4:07am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
A real man PB
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  • #42,792
  • Sep 1, 2009 4:09am Sep 1, 2009 4:09am
I am looking at taking this long because;

PB which indicates a rejection of PPZ
With short term trend
Overlapping fib levels
Retrace of last move up

Comments?
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  • #42,793
  • Sep 1, 2009 4:11am Sep 1, 2009 4:11am
Quoting jarroo
I knew it. Mike is building genetic mutants to take over the markets.
Mini-Mike.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #42,794
  • Sep 1, 2009 4:14am Sep 1, 2009 4:14am
Quoting Grousman
I am looking at taking this long because;

PB which indicates a rejection of PPZ
With short term trend
Overlapping fib levels
Retrace of last move up

Comments?
1.9050 is your "This is Critical" point, after that it could go for a little run.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #42,795
  • Sep 1, 2009 4:15am Sep 1, 2009 4:15am
Quoting LasVahGoose
Mini-Mikes.

Good one.
Indicators show the past. Price Action "Indicates" the future.
  • #42,796
  • Sep 1, 2009 4:17am Sep 1, 2009 4:17am
Quoting Grousman
I am looking at taking this long because;

PB which indicates a rejection of PPZ
With short term trend
Overlapping fib levels
Retrace of last move up

Comments?
A few reasons why I'm not taking it...
- I was looking for that pinbar to just touch the lower TL.
- It went well through 50/61FIB zone.
- I don't see strong ppz at this location... just those past bar highs on 4hr...
(I generally only use ppz from higher charts to trade 4hr.)

Could work well for you though...

Josh
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  • #42,797
  • Sep 1, 2009 4:22am Sep 1, 2009 4:22am
Quoting 2mas
A real man PB
Nothing wrong with pitbulls with the trend. Nice one. I'd trade it tight.
Indicators show the past. Price Action "Indicates" the future.
  • #42,798
  • Sep 1, 2009 4:24am Sep 1, 2009 4:24am
Quoting jarroo
You have identified the correct PA formations. Is there any other supporting confluences in structure ( i.e. size , shape, relation to preivous candles, swing High/Low etc), traffic density (i.e. "This is Critial") and/or Fib levels, MACD divergence, round numbers, 50% retracement levels . etc.

Formations are great especially at a swing High or Low. The more supporting confluences we have the better to help our decision to take a trade.
Sorry for the late answer i was bussy with some other (trades i will post).

I agree these are not at there Swing H/L and Traffic on the left side is also to much.

Looking at EurCad returned from 61.8 and 50.0 closing below 365EMA and 89SMA right in a PPZ and that 4h BEOB would have been a Breakout of this PPZ. But trade did not triggered and BEOB turned out to be a PB.

GBPCAD came back from 50.0 (a PPZ also) and 1.8000 round number. Trade was so with the trend and there is a trend line from 30 jun also which was hit.

I must admit i should have posted these with the 1st post.
  • #42,799
  • Sep 1, 2009 4:29am Sep 1, 2009 4:29am
I wouldn't take it too. its a pb on the daily, though it hasn't break yet. Also notice the 2bar pb on the h4? it equates to a pb on the h8. and its a huge one at that
Quoting Jduester
A few reasons why I'm not taking it...
- I was looking for that pinbar to just touch the lower TL.
- It went well through 50/61FIB zone.
- I don't see strong ppz at this location... just those past bar highs on 4hr...
(I generally only use ppz from higher charts to trade 4hr.)

Could work well for you though...

Josh
  • #42,800
  • Sep 1, 2009 4:40am Sep 1, 2009 4:40am
Quoting nasir.khan
Sorry for the late answer i was bussy with some other (trades i will post).

I agree these are not at there Swing H/L and Traffic on the left side is also to much.

Looking at EurCad returned from 61.8 and 50.0 closing below 365EMA and 89SMA right in a PPZ and that 4h BEOB would have been a Breakout of this PPZ. But trade did not triggered and BEOB turned out to be a PB.

GBPCAD came back from 50.0 (a PPZ also) and 1.8000 round number. Trade was so with the trend and there is a trend line from 30 jun also which was hit.

I must admit i should...
That's ok, nasir. Might I suggest that you line up your PPZs on the Weekly and Daily first, before moving down to the 4 hour and Hourly. They play an important role on the lower time frames.

Or just stay on the Daily and Weekly, many opportunities to grab some pips.
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Indicators show the past. Price Action "Indicates" the future.
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