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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

  • #43,761
  • Sep 14, 2009 11:01pm Sep 14, 2009 11:01pm
Quoting raczekfx
.
Quoting Icehocey77
fib retrace?
Just got to my charts. (Blue is the 150ema on the 4 hour time frame)
To fine tune a given level, lower time frames maybe needed. I started reading (studying) your TL in the PF. Gotta love it.


Thanks Mark.
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Indicators show the past. Price Action "Indicates" the future.
  • #43,762
  • Sep 15, 2009 1:38am Sep 15, 2009 1:38am
Quoting squeezy
wat is happening to this pair....
dragged its feet all day
TP hit...
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Simplicity is the key to success
  • #43,763
  • Sep 15, 2009 3:01am Sep 15, 2009 3:01am
hasnt closed yet but knew Rac would be all over this, right
saw the 1hr pin/neutral bar by the way but didnt like it but if this closes like this then im all over it
RAC ATTACK..........lol
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Simplicity is the key to success
  • #43,764
  • Sep 15, 2009 3:14am Sep 15, 2009 3:14am
well ??
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  • #43,765
  • Sep 15, 2009 3:25am Sep 15, 2009 3:25am
Quoting bundyraider
........
"Right! thanks for giving me a better price, that's far enough! Let's continue down everybody! This is as far as it's going to go! At this price level I'm back in!" and then placed orders at that particular level?? Orders that threw the price down violently. A level that will STILL have orders waiting on the other side of it the next time we get back up to it. (A strong PPZ on the weekly chart will have more orders than a 1 hour chart PPZ and so on , of course)
..............
Don't read the chart as a bunch of...
hey bundy great post,I enjoy reading your post.

this one just added to my favorites for re-reading.

this kind of subject I was looking for and your post give a lot of common sens of how price move and from where those pull back comes,optaining a better price,and how to interpreted the S/R line

thanks bundy it was worthy read it!!
  • #43,766
  • Sep 15, 2009 3:41am Sep 15, 2009 3:41am
Quoting bundyraider
If you're long:- Don't look for bar highs as such. Look for recent tell tales of where orders are sitting that will go against your trade direction. (For that matter, also do the same on the other side of your trade for stop placement reasons). These levels are where every time they get hit someone (or many someones) comes in and blows away the ground that was just made up. .........
hey Bundy,
thanks for the great post! i'm not sure i understood the quoted part correctly though. What do you mean by "don't look for bar highs as such"? Do you mean that one should look for strong s/r areas and not single bar highs? Could you please expain this a little more precisely?

Thanks,
nonick
  • #43,767
  • Sep 15, 2009 4:37am Sep 15, 2009 4:37am
Quoting squeezy
hasnt closed yet but knew Rac would be all over this, right
saw the 1hr pin/neutral bar by the way but didnt like it but if this closes like this then im all over it
RAC ATTACK..........lol

wow! is that a hard break or what.....
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Simplicity is the key to success
  • #43,768
  • Sep 15, 2009 5:07am Sep 15, 2009 5:07am
Quoting bundyraider
I'm going to try and answer this simply, without ranting again. I bet I do though. lol

Bar high and lows in the past are reasons your trade could go wrong. A lot of them though are just weak levels....
Thank you! Great post. I will be re reading this one for sure!

What we are looking for is the violent rejection of price previously as there may still be orders hanging around there hoping that price might go back to that level for them to get in as they missed the boat the first time.

However, when looking to enter the trades, do you take all the minor support and resistance to consideration on how they may bounce off them and go back and hit your stop as pointed out many times by many people

Missed this Minor PPZ
Missed this Area


P.S. If you can throw up a few charts on this violent rejection of price that I should be worried about, it would be a great learning post for me.

Thanks
  • #43,769
  • Sep 15, 2009 5:37am Sep 15, 2009 5:37am
Quoting jarroo
Just got to my charts.

Thanks Mark.


PA of solid PPZ and fibs confl and lift off...?
And so on, and so....

K, enough of my presence here. Don't you get bored talking about the same thing over and over again?
Flying is not meant for everyone.
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  • #43,770
  • Sep 15, 2009 5:39am Sep 15, 2009 5:39am
Quoting squeezy
wow! is that a hard break or what.....
Someone is paying attention...
  • #43,771
  • Sep 15, 2009 6:04am Sep 15, 2009 6:04am
Quoting raczekfx
Someone is paying attention...
yup mos def....
only thing now is actually pulling the trigger now, im just watching & keeping a close eye on the RAC ATTACK
btw ur ucad short from yday, i had everything in place...fibs, ppz,tl (just exactly as u had urs) but wasnt goin to pull the trigger besides had a ppz not too far below & knew it wld be a short short trade.....
thnx ,
ur posts have helped a great deal
keep them coming
Simplicity is the key to success
  • #43,772
  • Sep 15, 2009 6:50am Sep 15, 2009 6:50am
Quoting raczekfx

PA of solid PPZ and fibs confl and lift off...?
And so on, and so......Don't you get bored talking about the same thing over and over again?
Flying is not meant for everyone.
NO.
Trading is 1 of those very few boring things i love doing & hearing about.
I love to fly and climb.

Thanks Sir!
  • #43,773
  • Sep 15, 2009 7:05am Sep 15, 2009 7:05am
Would anyone take this BEOB?

http://i32.tinypic.com/o6jjmt.gif
  • #43,774
  • Sep 15, 2009 7:11am Sep 15, 2009 7:11am
Quoting Icehocey77
channeling my inner rac
Dude - you know when you've arrived when you have become a verb
I'm pretty much done with all this ...
  • #43,775
  • Sep 15, 2009 8:33am Sep 15, 2009 8:33am
Took this pin bar trade bar closed at 4am EST. Set my alarm woke up and put this trade on. Round Number, 150 EMA, swing high, off of PPZ. The trade is still valid but I use a bar break stop and it penetrated my stop by 1 pip. I think what I need to work on is defining PPZ better. Being half a sleep I didnt notice those bar highs below could be so strong. Oh well on to the next trade. Stil ddint take a full bar loss on it though. :-)


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  • #43,776
  • Sep 15, 2009 10:40am Sep 15, 2009 10:40am
What do you think about this one?
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  • #43,777
  • Sep 15, 2009 10:56am Sep 15, 2009 10:56am
Damn nice pin =) I answered very professionally lol..

Have a nice week everyone =)
  • #43,778
  • Sep 15, 2009 11:02am Sep 15, 2009 11:02am
Quoting fxlan
What do you think about this one?
Personally,
I think

1) There is not enough space

2) I cannot find any confluence or PPZ at that area

Has not reached the 50% Fib, nor the Whole number

If it is slightly higher, may have considered but personally I think no space

Not sure if I am right lolz
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  • #43,779
  • Sep 15, 2009 11:09am Sep 15, 2009 11:09am
Quoting squeezy
wow! is that a hard break or what.....
snap !!
just closed mine and am trying a small long from here??
jon
PATIENCE... DISCIPLINE
  • #43,780
  • Sep 15, 2009 11:14am Sep 15, 2009 11:14am
Quoting fxlan
What do you think about this one?
well, i like it .... 1st trouble area should be around 90.30 area
its witht the trend, thats a plus
Simplicity is the key to success
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