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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

  • #54,761
  • Feb 11, 2010 1:57pm Feb 11, 2010 1:57pm
Quoting nasir.khan
See the power and worth of PPZ's!!!!!!!!!

How beautifully this round number (1.05) lines up with 50% retracment level.

But no respect (15 pips though).

Cause there is no PPZ there, not even in Daily and Weekly.

This is what i think.
I really am liking a bit lower on that one. Check out the daily chart. Very strong PPZ down there. I think it'll be do or die when price gets to that point. Just my opinion.
  • #54,762
  • Feb 11, 2010 2:03pm Feb 11, 2010 2:03pm
Quoting Jlr
I really am liking a bit lower on that one. Check out the daily chart. Very strong PPZ down there. I think it'll be do or die when price gets to that point. Just my opinion.
I know, i am waiting for ages.

Untested Support A.K.A First Touch.

Although i think i still have a chance of getting out of this loosing trade handsomely, if it goes up for retest of 1.0550 and then........
  • #54,763
  • Feb 11, 2010 2:05pm Feb 11, 2010 2:05pm
Quoting nasir.khan
I know i am waiting for ages.

Untested Support A.K.A First Touch.
Waiting, isn't it so much more enjoyable then stressing out over some crappy trades that go nowhere. Took me forever to realize that lol.
  • #54,764
  • Feb 11, 2010 2:17pm Feb 11, 2010 2:17pm
I got 'Price Patterns' by Martin Pring today after seeing it recommended by a few of you members.

Expect me to put up some mind-blowing set-ups next week.

  • #54,765
  • Feb 11, 2010 2:22pm Feb 11, 2010 2:22pm
OK ok ...

While we are on this topic..

Does anyone else DOODLE random lines when they are bored - on a paper, and create a line chart? . or am I the only crazy one..

THEN, go through it like a puzzle, and mark it all up all the s/r/patterns, etc. where they would buy, sell.

You'd be surprised how you can pick it apart and trade them ... sometimes I hand over the 'historical data' that has been processed by MOI, and hand them over to my wife... ;P

Yes, i admit.. I have too much time on my hands..
lowest draw down possible please.
  • #54,766
  • Feb 11, 2010 2:33pm Feb 11, 2010 2:33pm
haha

*chirp* *chirp* crickets.

Back to the looney bin i go.
lowest draw down possible please.
  • #54,767
  • Feb 11, 2010 2:33pm Feb 11, 2010 2:33pm
Quoting ehrek
OK ok ...

While we are on this topic..

Does anyone else DOODLE random lines when they are bored - on a paper, and create a line chart? Up down, sideways.. or am I the only crazy one..

THEN, go through it like a puzzle, and mark it all up all the s/r/patterns, etc. where they would buy, sell.

You'd be surprised how you can pick it apart and trade them ... sometimes I hand over the 'historical data' that has been processed by MOI, and hand them over to my wife... ;P
Uh, ahem....The guys in white coats will be there shortly..

On a serious note, cad/jpy is in a very nice spot. Zoom out on the charts and you can see it even more clearly.
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I dream, therefore I become.
  • #54,768
  • Feb 11, 2010 2:47pm Feb 11, 2010 2:47pm
Quoting ehrek
OK ok ...

While we are on this topic..

Does anyone else DOODLE random lines when they are bored - on a paper, and create a line chart? . or am I the only crazy one..

THEN, go through it like a puzzle, and mark it all up all the s/r/patterns, etc. where they would buy, sell.

You'd be surprised how you can pick it apart and trade them ... sometimes I hand over the 'historical data' that has been processed by MOI, and hand them over to my wife... ;P

Yes, i admit.. I have too much time on my hands..
Ohhh come on... get a life bro.
  • #54,769
  • Feb 11, 2010 2:50pm Feb 11, 2010 2:50pm
Hahaha!

I was bored, and there were napkins.. and I had a pen in my jacket..

It was only ONCE, i swear.. I swear.

okay, twice.
lowest draw down possible please.
  • #54,770
  • Feb 11, 2010 2:50pm Feb 11, 2010 2:50pm
Quoting mike w
Uh, ahem....The guys in white coats will be there shortly..

On a serious note, cad/jpy is in a very nice spot. Zoom out on the charts and you can see it even more clearly.
Niece PB and divergence on macd, thanks.
  • #54,771
  • Feb 11, 2010 2:51pm Feb 11, 2010 2:51pm
Took a few days but hit my profit target a couple of hours ago.


Quoting fxprocessor
Pros

Pin bar with the longer term daily trend.
Trendline confluence
PPZ

Cons

Not the biggest pin.
PPZ is just above price action.

I think price has a good chance of making it to the descending trendline. If price can close strongly above the PPZ I will move my stop just under it.
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  • #54,772
  • Feb 11, 2010 2:53pm Feb 11, 2010 2:53pm
Quoting strateg119
Niece PB and divergence on macd, thanks.
Suuuuure thing, my good man!
I dream, therefore I become.
  • #54,773
  • Feb 11, 2010 3:14pm Feb 11, 2010 3:14pm
Quoting ehrek
haha

*chirp* *chirp* crickets.

Back to the looney bin i go.
  • #54,774
  • Feb 11, 2010 3:26pm Feb 11, 2010 3:26pm
Great, now I feel like supergeek for knowing most price levels by heart.



(Shhh Patrick, don't tell 'em about the s/r as well, just quietly sidle out of the room and nobody will notice..)
Trust price. Know yourself.
  • #54,775
  • Feb 11, 2010 3:38pm Feb 11, 2010 3:38pm
Quoting SeekingLight
Great, now I feel like supergeek for knowing most price levels by heart.



(Shhh Patrick, don't tell 'em about the s/r as well, just quietly sidle out of the room and nobody will notice..)
Ok here is one who draw trend lines on mountains, caught him.
  • #54,776
  • Feb 11, 2010 3:46pm Feb 11, 2010 3:46pm
What do you think on eur/gbp daily BUOB ?

ppz + 50%fib + 200 EMA

enter below .87, be @ 20 pips, much resistance coming its way, 1st tp around .865


what would you say ?
Never whishing, always trading.
  • #54,777
  • Feb 11, 2010 3:48pm Feb 11, 2010 3:48pm
Quoting SeekingLight
Great, now I feel like supergeek for knowing most price levels by heart.



(Shhh Patrick, don't tell 'em about the s/r as well, just quietly sidle out of the room and nobody will notice..)
You're probably in good company with Rac
  • #54,778
  • Feb 11, 2010 3:49pm Feb 11, 2010 3:49pm
Mike, Nasir,

Is there an indicator I can use to highlight big round numbers on the chart?

Regards,

P
  • #54,779
  • Feb 11, 2010 3:50pm Feb 11, 2010 3:50pm
Quoting Jlr
Waiting, isn't it so much more enjoyable then stressing out over some crappy trades that go nowhere. Took me forever to realize that lol.
This seems like post 1 material to me. I have recently realized this too. Monday and Tuesday I didn't take any trades (well, had one potential one but didn't break) and for maybe the first time, I was content without having any trades running. Waiting for great setups that have momentum (thanks Jarroo!) which leads to quick satisfaction is so much better than taking a so-so setup, and losing years of your life to stress while watching it go up and down and maybe hit your target, maybe stop you out for a loss.

Thanks Jlr.

Cory
  • #54,780
  • Feb 11, 2010 3:52pm Feb 11, 2010 3:52pm
Anyone catch the breakout on CAD/CHF...it slipped below the radar today for me, but there was a nice IB on the !HR which would have made for a good entry with stop below the PPZ area...nice on the %R too.
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