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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

  • #43,321
  • Sep 8, 2009 12:54pm Sep 8, 2009 12:54pm
Quoting montmorency
[Infrequent poster to FF here, but long-time reader of this thread, and longish-time trying to perfect the method]



Been a nice sunny afternoon at least, where I am, about 50 miles west of London.

OK, here's the naive question: people always talk about extremes, but how do you know in advance it's going to be an extreme? i.e. it may turn out to be a continuation bar not a reversal bar.

Maybe this is just a terminology question.
Yeah if we knew where extremes would be we would't need anything else. LOL

By extremes or Swing high/low we mean High-Lows price made recently.
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  • #43,322
  • Sep 8, 2009 1:30pm Sep 8, 2009 1:30pm
Hi 2 all
Plz, look at my picture, and tell me, what do u think

Thank's
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  • #43,323
  • Sep 8, 2009 1:44pm Sep 8, 2009 1:44pm
Quoting fxairy
Hi 2 all
Plz, look at my picture, and tell me, what do u think

Thank's
Hey Fxairy

Basically what we have right now is an Inside bar / TBH stalling right above 1.6500 round number. I marked where if price breaks lower it is likely to end up going and having trouble. So personally I think one would trade a break of the round number rather then where your sell is. You are basically selling much lower then the pattern suggests.

Hope that helps
Mike
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  • #43,324
  • Sep 8, 2009 1:53pm Sep 8, 2009 1:53pm
fxairy,
u are planning to sell into a possible immediate PPZ (refer to James16 THIS IS CRITICAL) around 1.6440 (blue line marked by Sir mbqb11).
current trend is up. $ is weak. Daily & weekly is still ranging, so u be careful.

James16 THIS IS CRITICAL
"....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........."
  • #43,325
  • Edited 2:23pm Sep 8, 2009 2:07pm | Edited 2:23pm
Quoting squeezy
good question....
i had my trendline drawn on my 4hr & daily charts individually.....they both were in consolidating mode ready for a break.....
on my 4hr charts, anytime price reaches my trendline i drop down 1-2 never more than 2 inorder not to complicate things...lol
when price got to my trendline on the 4hr,i first switched to 30mins charts(30 mins before 1hr)...i noticed the break in trendline & pullback but no pa...i then switched to my 1hr chart & saw my bearish pin....
which gave me my trigger
hope this was clear enough
yes, thanks for the explanation...glad it worked out for you, squeezy

Quoting benji533
Hey nonick,

I agree with you on this. I took Mike's advice about going only one TF lower in order to spot the PA bar. So no PA on daily and 4H. Only a pinish-natural bar on the 1H.

Ben
hey Ben,
that's the reason why i didn't take this breakout. Like you, i was watching this area very closely, since the price tested it 5 times and i knew that a breakout could come anytime. But there was no proper PA on h1 or h4 so i didn't enter.
  • #43,326
  • Sep 8, 2009 2:11pm Sep 8, 2009 2:11pm
Wow....thanks for help )
Simple.......I just learn PA and PPZ...and try it doing on the TF 4H
I know, that I have to do on the TF 1D....but I think......4H not bad too.
  • #43,327
  • Sep 8, 2009 2:31pm Sep 8, 2009 2:31pm
Sir mbqb11 and supermeChaos
I think, that I have one problem, If you can, plz help me. When I draw my PPZ line, the border for trade is very small, I read a lot about how to draw lines, but I can not understand the truth. Look at the picture ... comments are not needed
What do you advise? how to draw PPZ?
Also I often look webinars for guests on the james16 site......

Thanks
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  • #43,328
  • Sep 8, 2009 2:33pm Sep 8, 2009 2:33pm
Heads up on Gold Daily pin:

This is the 3rd time price has gone above $1000. I was watching for PA to go long but the price has failed to hold above this level and it looks like the Daily will produce a good Pin.

If this breaks down there is that area around $990 that could be a problem.

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  • #43,329
  • Sep 8, 2009 2:43pm Sep 8, 2009 2:43pm
Quoting fxairy
Sir mbqb11 and supermeChaos
I think, that I have one problem, If you can, plz help me. When I draw my PPZ line, the border for trade is very small, I read a lot about how to draw lines, but I can not understand the truth. Look at the picture ... comments are not needed
What do you advise? how to draw PPZ?
Also I often look webinars for guests on the james16 site......

Thanks
Hey Fx

Yes your PPZ are drawn correct. Sometimes you have more room then others. Gbp/usd has more room to the upside then to the downside. How we manage our trades is up to the individual. Those first areas though we must understand that price can and will reverse there. For me if I have a very large PA bar, at a prime spot, I often use these first trouble zones to help me manage my trade. I don't necessarily automatically move my stops at that point or take profit. Now for intraday trading(4hr and under), often these first trouble areas need to be more important b/c trades are on an intraday level for me. The more space a trade creates often the easier to run and longer we can hold b/c there is less to get in the way.

Let me know if that helps your question
Mike
  • #43,330
  • Sep 8, 2009 2:52pm Sep 8, 2009 2:52pm
Quoting ljr
Heads up on Gold Daily pin:

This is the 3rd time price has gone above $1000. I was watching for PA to go long but the price has failed to hold above this level and it looks like the Daily will produce a good Pin.

If this breaks down there is that area around $990 that could be a problem.

Attachment
I am short up higher near 1000 but if it turns to a daily pin I am there with ya LJR
  • #43,331
  • Sep 8, 2009 2:56pm Sep 8, 2009 2:56pm
Quoting mbqb11
Hey Fx

Yes your PPZ are drawn correct....
Sir Mike....
If speaking honestly, I do not quite understand ..
Maybe it's the language barrier
Can you explain on the picture. Trader understand any trader looking at the chart with a brief commentary
  • #43,332
  • Sep 8, 2009 3:07pm Sep 8, 2009 3:07pm
Quoting fxairy
Sir Mike....
If speaking honestly, I do not quite understand ..
Maybe it's the language barrier
Can you explain on the picture. Trader understand any trader looking at the chart with a brief commentary
Sure bud,

Here is a gbp/chf. Notice the pinbar with the arrow under it. Now the first small blue box is our first potential trouble area. This is what I call a minor trouble area. The bigger blue box is a more major trouble area of resistance. Now in all likelihood you get to that second box, because notice that the first blue small minor area, is a very small trouble zone. If the PA is very good PA, out in space like that off a nice area, then I usually don't let that first area bother me too much. At that point I might trail my stop up say under the previous bars low. This helps elimanate most of the risk, but allow you to remain in the trade to the more major area. When getting to that major area(big blue box), I will tend to outright take profit, or tighten my stop WAY up.

Now every chart, scenario, situation is differnet. Some trades have more room to run. Some less, etc. We do our best to understand where these trouble areas are, and then based on our personal methods, react accordingly. Hope that helps clear it up

Mike
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  • #43,333
  • Sep 8, 2009 3:21pm Sep 8, 2009 3:21pm
One trade only. I'll take these once a day for the rest of my life and be very happy.

EURCAD on the 4hr. Out at the 365. Tastes great and less filling.

Nice OB. Great size, at a swing low. Blew right past the trouble at 1.5550. (I expected it to stop there, but noooooo !!). It closed above the previous bars and the entry was well clear of the 1.5500.
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I'm pretty much done with all this ...
  • #43,334
  • Sep 8, 2009 3:21pm Sep 8, 2009 3:21pm
Quoting mbqb11
Sure bud,

Here is a gbp/chf....
Yes, thanks for help!!!!
I think, you understand my level in the PA and PPZ )))))))) may be for me dont try to trade on the TF 4H, and move on the daily?
I dont feel sore about always be in the market))) I think, that 4H easier than TF 1D, also I read a lot posts about, what better for learning 4H or 1D......opinions very much
  • #43,335
  • Sep 8, 2009 3:27pm Sep 8, 2009 3:27pm
http://interactive.foxnews.com/lives....html?chanId=2
  • #43,336
  • Sep 8, 2009 3:28pm Sep 8, 2009 3:28pm
Quoting TiaForex
In my opinion, by far the single worst thing that can happen to a trader, is being rewarded for breaking their rules. .....
what a gem! I laugh in horror since i learned this rule first hand. 8-)
  • #43,337
  • Sep 8, 2009 3:31pm Sep 8, 2009 3:31pm
Quoting james16
http://interactive.foxnews.com/lives....html?chanId=2
thanks for the link! cool stuff!
  • #43,338
  • Sep 8, 2009 3:33pm Sep 8, 2009 3:33pm
EURUSD....

Bust out with strong PA (an OB would be COOL) or Gimme Bearish PA... The only trade worthwhile on this pair in recent weeks came Friday. while I was jetting across the continent munching on crappy peanuts.

No more chop chop please...

Baby needs a new TV....
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I'm pretty much done with all this ...
  • #43,339
  • Sep 8, 2009 3:48pm Sep 8, 2009 3:48pm
Quoting james16
http://interactive.foxnews.com/lives....html?chanId=2
I wanna see the big engines fire. Now THAT would be so cool.
I'm pretty much done with all this ...
  • #43,340
  • Sep 8, 2009 3:57pm Sep 8, 2009 3:57pm
so is there a position calculator to do gold properly? I keep getting some ridiculous calculations.
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