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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

  • #45,101
  • Oct 2, 2009 1:06am Oct 2, 2009 1:06am
Quoting Gerard212
Mike

Your help is much appreciated however i am still a little confused re swing hi/lo , can u show some examples please.

Thanks Gerard
Sure here is a chart with Major and minor swing points. The more minor a swing point by definition the more traffic it will be in and the less room to run to the first trouble areas. That is when we are trading on less minor swing points we have to be aware that the first trouble area should be closer. This doesn't mean that trades don't run from minor swing points, but the best of the best is at the best swing points, that tend to create the biggest runs. Think of the market as moving in waves. Each time it moves in a wave it is putting in a new swing point. Some of these swings are bigger and more standout then others. Just as PPZs major and minor

Hope that helps
Mike
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  • #45,102
  • Oct 2, 2009 1:09am Oct 2, 2009 1:09am
Quoting jarroo
The Difference is the Time Frames. Mike was on the Daily, while I was on the 4 Hour. The Daily's space was very closed or trafficy (is that a word) in relation to the setup while the 4 Hour space was very open or less trafficy to the 4 hour setup.

Granted, Mike will require more space for a setup then I might at times, but the important thing here is that there is a good amount of space on a given time frame for that setup.

Am I making sense?

Jim

Yep things can change greatly from timefames.

People are surprised when they see some of the trades I take. They go, I don't get it I see traffic. When I see traffic, that doesn't mean no trade, it usually means to tighten up my trade mgmt plan. Good bars come in many forms and many locations. The key is to learn what makes better locations then others, and what makes better bars then others. Then combine that with trouble areas using s/r, ppz, etc.

Thanks for clarifying for me Jim
Mike
  • #45,103
  • Edited 1:58am Oct 2, 2009 1:16am | Edited 1:58am
Quoting mbqb11
Yep things can change greatly from timefames.

People are surprised when they see some of the trades I take. They go, I don't get it I see traffic. When I see traffic, that doesn't mean no trade, it usually means to tighten up my trade mgmt plan. Good bars come in many forms and many locations. The key is to learn what makes better locations then others, and what makes better bars then others. Then combine that with trouble areas using s/r, ppz, etc.

Thanks for clarifying for me Jim
Mike
Any additional clarifying commements from you Mike is always greatly welcomed.

An important note: My pickyness compared to Mike's is not always on the same page. lol I tend to manage my setups very tightly and look for confirming hard breaks and retests to aid in my decisions, especially with non A+ setups.
Indicators show the past. Price Action "Indicates" the future.
  • #45,104
  • Oct 2, 2009 1:49am Oct 2, 2009 1:49am
Quoting krue
hey, I reserved a seat for you here, if you don't mind, jarroo? but, to be honest, I am a little bit uncertain about this type of setup, given what Mike said about space as below link, which, of course, I don't understand well though.

http://www.forexfactory.com/showpost...ostcount=45042


the thing is, why do you have so much difference in talking about space?
I am not saying any one of you were wrong, simply curious what could be the difference between two of you.
On your feed krue, the 4 hour PB was below the Weekly/Daily PPZ level and had immediate traffic or previous highs/lows to deal with (blue areas).

The space, caused by the swing low, probably helped this trade move upward but the decision to take the trade would have gave me pause because of the immediate traffic.

The location is King and if I took this trade on your feed it would have to be tightly managed. If this setup didn't break as well as it did I would have be out with a very small loss.
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Indicators show the past. Price Action "Indicates" the future.
  • #45,105
  • Oct 2, 2009 2:03am Oct 2, 2009 2:03am
is anyone considering the BEOB formed on the EUR/USD to be played as a continuation set-up or is it just me vs it
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  • #45,106
  • Oct 2, 2009 2:18am Oct 2, 2009 2:18am
Hi all followers of the j16 'system',

I've been following this thread for some time, mainly flicking back and forth and sometimes in the middle. 2700+ pages was tough to read from front to back, especially at the rate pages were added.

I've finally decided to sit down and read through it all, but hit a little snag. On post #111, Jim posted a chart to say "look at post 58" but there are no attachments there. Does any of the early followers know what he is driving at here?

Thanks & regards,
arctos
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  • #45,107
  • Edited 2:57am Oct 2, 2009 2:18am | Edited 2:57am
Quoting ezz
is anyone considering the BEOB formed on the EUR/USD to be played as a continuation set-up or is it just me vs it
Not technically a BEOB, the bar high is not higher then the previous bar. Too bad its not at the peak of the swing high, then it would be A+.

As a continuation play we would be looking for a BUOB, correct? The current trend is up. Anyway, I like how you have your order below that big round number, 1.4500. Let's see how it breaks. (if it breaks)
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Indicators show the past. Price Action "Indicates" the future.
  • #45,108
  • Oct 2, 2009 2:22am Oct 2, 2009 2:22am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
thanks, jarroo, for the good explanation to understand the difference. what I looked at this setup were 1.56, fib ret 78.6 and most importantly here the trendline, which is a good reflection of the choppy market, if I may. I am just wondering what might signify the influnce of space could be situational depandant: only when swing setup comes into play, space takes its power in determining the setup quality, while in range market, it fades its role given that the range bounds are focal of the battle force, anything in between seems most likely weak in power. this is my reading of the chart, hopefuly could get some validation from you seniors.



Quoting jarroo
On your feed krue, the 4 hour PB was below the Weekly/Daily PPZ level and had immediate traffic or previous highs/lows to deal with (blue areas).

The space, caused by the swing low, probably helped this trade move upward but the decision to take the trade would have gave me pause because of the immediate traffic.

The location is King and if I took this trade on your feed it would have to be tightly managed. If this setup didn't break as well as it did I would have be out with a very small loss.
  • #45,109
  • Oct 2, 2009 2:48am Oct 2, 2009 2:48am
Quoting krue
thanks, jarroo, for the good explanation to understand the difference. what I looked at this setup were 1.56, fib ret 78.6 and most importantly here the trendline, which is a good reflection of the choppy market, if I may. I am just wondering what might signify the influence of space could be situational dependant: only when swing setup comes into play, space takes its power in determining the setup quality, while in range market, it fades its role given that the range bounds are focal of the battle force, anything in between seems most likely weak...
Yes, space plays an important role in the quality of a given setup, if I understand you correctly. But the location of where space lines up with is the key. At a swing Low or High at a PPZ level, even better with other supporting confluences at this level (Round numbers, Fibs, long term MAs, trendlines, etc.)

I agree that space fades its importance in consolidation areas where again the range boundary's Location plays as the key strength.
Indicators show the past. Price Action "Indicates" the future.
  • #45,110
  • Oct 2, 2009 2:57am Oct 2, 2009 2:57am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
very well said, jarroo, another aspect of the key in my mind sinks in. thank you !

Quoting jarroo
Yes, space plays an important role in the quality of a given setup, if I understand you correctly. But the location of where space lines up with is the key. At a swing Low or High at a PPZ level, even better with other supporting confluences at this level (Round numbers, Fibs, long term MAs, trendlines, etc.)

I agree that space fades its importance in consolidation areas where again the range boundary's Location plays as the key strength.
  • #45,111
  • Edited 3:29am Oct 2, 2009 3:08am | Edited 3:29am
Quoting jarroo
Where was I when I missed this easy one.

Eur/Cad 4 Hour BUOB off a Daily/Weekly PPZ level, 1.5650, at a swing Low, nice space and 50% retracement level. And of course the beautiful hard break with no draw down that doesn't look back.

Wow, look at it go. Let me tell you something, when you see Price go to the moon from a quality PA setup you will notice that it started from a hard break, not always of course, but many times this is a characterisic.

Maybe that's why rockets use thoses strong booster to leave the Earth. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #45,112
  • Oct 2, 2009 3:09am Oct 2, 2009 3:09am
mike, jaroo,
your thoughts on the audusd daily beovb?

while it is at a swing high, me thinks there is a bit too much traffic around it and audusd has been bouncing off the upwards trendline...

sounds like i am talking myself off it!
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  • #45,113
  • Oct 2, 2009 3:11am Oct 2, 2009 3:11am
Congrats Raczekfx........but how in the world do you do that?

Need to finish reading this Thread and join the PF soonest.........

Quoting raczekfx
All PMs have been answered... (just in time I hope..)

Before nonfarm it is a harvest time.
Here is just a handful of 50+ pipers, I mentioned above.

Be careful tomorrow guys!
Be well, Trade well...
.
  • #45,114
  • Oct 2, 2009 3:24am Oct 2, 2009 3:24am
Quoting coolshades
mike, jaroo,
your thoughts on the audusd daily beovb?

while it is at a swing high, me thinks there is a bit too much traffic around it and audusd has been bouncing off the upwards trendline...

sounds like i am talking myself off it!
You may want to listen to those voices they make good sense.
Nice big BEOB at a swing high consolidation area right smack into a ton of traffic . . .ouch. An easy pass for many.

It could work out nicely but be prepared for a lot of choppiness. Big PA at the right location can cut through a lot of traffic. I like watching and studying these setups then actually trading them. You can learn alot on how price reacts to certain levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #45,115
  • Oct 2, 2009 3:29am Oct 2, 2009 3:29am
thks jarroo, have left it. when in doubt... is there a buovb on eurusd h4 the prevvious candle not the current one?

Quoting jarroo
You may want to listen to those voices they make good sense.
Nice big BEOB at a swing high consolidation area right smack into a ton of traffic . . .ouch. An easy pass for many.

It could work out nicely but be prepared for a lot of choppiness. Big PA at the right location can cut through a lot of traffic. I like watching and studying these setups then actually trading them. You can learn alot on how price reacts to certain levels.
  • #45,116
  • Oct 2, 2009 3:37am Oct 2, 2009 3:37am
Quoting coolshades
thks jarroo, have left it. when in doubt... is there a buovb on eurusd h4 the prevvious candle not the current one?
Yes there is, just barely. Look at the size of it compared to the previous bearish bars. We are not very surprised that it didn't work out or even broke.

Oh wait this is the aud/usd.
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Indicators show the past. Price Action "Indicates" the future.
  • #45,117
  • Oct 2, 2009 3:43am Oct 2, 2009 3:43am
there isnt one on the eurusd as well. rechecked. i use bars not candles so sometimes hard to spot.

Quoting jarroo
Yes there is, just barely. Look at the size of it compared to the previous bearish bars. We are not very surprised that it didn't work out or even broke.

Oh wait this is the aud/usd.
  • #45,118
  • Oct 2, 2009 3:44am Oct 2, 2009 3:44am
Quoting coolshades
thks jarroo, have left it. when in doubt... is there a buovb on eurusd h4 the prevvious candle not the current one?
No not a BUOB but a 8 hour baby PB that already hit its target. Too much traffic on this one and of course too small.
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Indicators show the past. Price Action "Indicates" the future.
  • #45,119
  • Oct 2, 2009 3:49am Oct 2, 2009 3:49am
Great talking to you guys this morning.

Gotta go.

Talk to you soon.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #45,120
  • Oct 2, 2009 4:20am Oct 2, 2009 4:20am
Quoting arctos
Hi all followers of the j16 'system',

I've been following this thread for some time, mainly flicking back and forth and sometimes in the middle. 2700+ pages was tough to read from front to back, especially at the rate pages were added.

I've finally decided to sit down and read through it all, but hit a little snag. On post #111, Jim posted a chart to say "look at post 58" but there are no attachments there. Does any of the early followers know what he is driving at here?

Thanks & regards,
arctos
Here you go:

http://www.forexfactory.com/showpost...ostcount=11319
Indicators show the past. Price Action "Indicates" the future.
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