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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

  • #57,521
  • Mar 8, 2010 3:13am Mar 8, 2010 3:13am
Quoting jarroo
Nicely illustrated, triger. The power of "with the trend".
i love them when they are with the trend but whenever I see a great opportunity of a high probability CT I will be all over it,I take CT but remmeber guys that trading with the trend you increase your chance dramatically

Speaking in general view if you know how a PB have been developed looking on lower tf,you may increase your chance of any given setup,it could be a criteria of skipping a trade or not.But this comes after a lot of practice and a lot of screen time

all the best jaroo!!

PS I fill myself so grateful to find a place like this and people like you
  • #57,522
  • Mar 8, 2010 3:15am Mar 8, 2010 3:15am
Quoting jarroo
Qualifying confluence weight index . . .I can hear Ryanmcd yelling at his computer screen . . . with the trend would be an important factor in this weight index. lol

With the immediate or short term trend, meaning at a 50% ret or fib ret. Retracement levels are good because they are usualy at a swing point which provides good space, i.e. less traffic.

Many of my successful "soso", tightly maganeged PA setups were with the trend. (Ryan: "Duh") Much of the criteria for a high quality PA setup can be less strict when their with the trend....
My mistake - I was thinking CT bounce off top/bottom of trend channel (eg CAD/CHF daily) - totally agree that with trend is up there at top of the confluence weighting list (as I am increasingly finding out!).

Thanks

Jeremy
  • #57,523
  • Mar 8, 2010 3:17am Mar 8, 2010 3:17am
Quoting triger88990
i love them when they are with the trend but whenever I see a great opportunity of a high probability CT I will be all over it,I take CT but remmeber guys that trading with the trend you increase your chance dramatically

Speaking in general view if you know how a PB have been developed looking on lower tf,you may increase your chance of any given setup,it could be a criteria of skipping a trade or not.But this comes after a lot of practice and a lot of screen time

all the best jaroo!!

PS I fill myself so grateful to find a place...
Back at you triger. I've been enjoying your recent posts from today (and yesterday).
Indicators show the past. Price Action "Indicates" the future.
  • #57,524
  • Mar 8, 2010 3:24am Mar 8, 2010 3:24am
Just want to thank Jaroo, Trigger and everyone for superb advice as always from this great thread - really nice start to the week.

Jeremy
  • #57,525
  • Mar 8, 2010 3:28am Mar 8, 2010 3:28am
Quoting jspeakman
My mistake - I was thinking CT bounce off top/bottom of trend channel (eg CAD/CHF daily) - totally agree that with trend is up there at top of the confluence weighting list (as I am increasingly finding out!).

Thanks

Jeremy
A PA setup can also help gage the strength of a trend. Take the Cad/Chf Daily PB from last week. What seemingly looks like a pretty good setup, fails. Not only on the setup itself, but on how it broke and not even coming close to a short term target.

What does it tell you? The up trend is strong.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,526
  • Mar 8, 2010 3:54am Mar 8, 2010 3:54am
Quoting triger88990
Speaking in general view if you know how a PB have been developed looking on lower tf,you may increase your chance of any given setup,it could be a criteria of skipping a trade or not.
How do You like it Trig?
Some small bars against Your direction, and one or two big bars in Your direction, constitute Your pin?
  • #57,527
  • Mar 8, 2010 4:06am Mar 8, 2010 4:06am
Quoting jarroo
The the size is not bad, meaning it about the same size as the previous bars but I would like to see the PB much much bigger then the previous bars on such a strong move down.

Stucture wise, the Close is lower then the Open of the PB. We like those on Bearish PB (in blue). This is a Bullish PB, we want the Close higher then the Open of the PB. It usually is not a trade breaker for me but on a CT trade it becomes very important.
Hi Jaroo

and many thanks of your explanations, I guess for someone like myself the further explanation you provided here is much, much helpful,

cheers mate
What you do is a reflection of you....what I do is a reflection of me.
  • #57,528
  • Mar 8, 2010 4:16am Mar 8, 2010 4:16am
Quoting Ezzy
Hi Jaroo

and many thanks of your explanations, I guess for someone like myself the further explanation you provided here is much, much helpful,

cheers mate
No problem buddy.

I am just echoing what Mike (mbqb11) has talked about many times in this thread. Checking out most, if not all, of his posts. They are a great read and study.

I'm the same way, I have to read and put into my own words to help me better understand.
Indicators show the past. Price Action "Indicates" the future.
  • #57,529
  • Mar 8, 2010 4:19am Mar 8, 2010 4:19am
Quoting lacika
How do You like it Trig?
Some small bars against Your direction, and one or two big bars in Your direction, constitute Your pin?
just to clarify something when I took the PB from that lower TF I didn't carry about how it took in place,I was referring to those on more large tf anyway I took it for other reasons

they could be developed in many shapes and it comes from your experience with the market,this is just MY style maybe for you will overcomplicate things

I could tell you that I'm doing this and this and show you many charts and you will not have any sort of fillings about it.Is abou YOU and your work that you must done by yourself is not with us,is YOUR work that must be done ,if you don't go through this process you have less chance to succeed in this business

Ultimately at the end of the day, its all YOU.

You see, the strategies that will work for you would be the ones that you conceive in your mind, because, you know yourself best.

But sometimes greed may cause you to try to be something you're unconfortable to be.

That's when the problems arises.
You should check you risk appitite. and you must be hornest to yourself about it.

Although not my entire post is relate to your question I find myself that I can't stop to not talk about it,bc I'm in opinion that everyone should be ITSELF not trying to be someone else.

hope it helps!!

all the best!!
  • #57,530
  • Mar 8, 2010 4:29am Mar 8, 2010 4:29am
Quoting jarroo
Yep crappy little PB of the 4 hour. . . . but it worked. It hit its target on the Friday. Alot of "soso" less quailty setups will fullfill themsevles but they lack the punch we like in the A catagory setups.
I think the context of prior PA is important too (in addition to location etc). Of course it's better to get a nice PB in a clear space; but when price fails to rally on so many occasions, that carries some weight too, IMO. When prior PB stalled exactly where you expected it to, the "crappy" PB was not that bad after all...
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One Chart is Worth Ten Thousand Words.
  • #57,531
  • Mar 8, 2010 4:41am Mar 8, 2010 4:41am
Quoting Forex007
I think the context of prior PA is important too (in addition to location etc). Of course it's better to get a nice PB in a clear space; but when price fails to rally on so many occasions, that carries some weight too, IMO. When prior PB stalled exactly where you expected it to, the "crappy" PB was not that bad after all...
Well said 007.

PA seems almost more predictable when in consolidation area (in addition to location etc.)

I think more people over-estimate their 1st targets then under-estimate them.

Indicators show the past. Price Action "Indicates" the future.
  • #57,532
  • Mar 8, 2010 4:49am Mar 8, 2010 4:49am
Quoting Forex007
I think the context of prior PA is important too (in addition to location etc). Of course it's better to get a nice PB in a clear space; but when price fails to rally on so many occasions, that carries some weight too, IMO. When prior PB stalled exactly where you expected it to, the "crappy" PB was not that bad after all...
Jarroo, I compared your chart to three diff. feeds I use - none of mine have those PBs... I know the issue of broker feeds has been discussed many times in the past, but when the difference is such big, where does the buck stop? Could we be seeing what's not there?.. The diff. between those chart in that area is striking.
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One Chart is Worth Ten Thousand Words.
  • #57,533
  • Mar 8, 2010 5:00am Mar 8, 2010 5:00am
Quoting Forex007
Jarroo, I compared your chart to three diff. feeds I use - none of mine have those PBs... I know the issue of broker feeds has been discussed many times in the past, but when the difference is such big, where does the buck stop? Could we be seeing what's not there?.. The diff. between those chart in that area is striking.
What it tells me is . . .what a mess. lol.

This is in the light that many high quailty setups tend to line up with most (not all) data feeds. Its nice that the S/R levels line up.
Indicators show the past. Price Action "Indicates" the future.
  • #57,534
  • Mar 8, 2010 5:00am Mar 8, 2010 5:00am
Quoting jarroo
PA seems almost more predictable when in consolidation area (in addition to location etc.)
Yes, I remember Ryan saying he is riding consolidations top to bottom and back up, milking them both ways.
One Chart is Worth Ten Thousand Words.
  • #57,535
  • Mar 8, 2010 5:02am Mar 8, 2010 5:02am
Quoting Forex007
Yes, I remember Ryan saying he is riding consolidations top to bottom and back up, milking them both ways.
Same with the big guy. Although more PA related, of course.
Indicators show the past. Price Action "Indicates" the future.
  • #57,536
  • Mar 8, 2010 5:03am Mar 8, 2010 5:03am
Quoting jarroo
This is in the light that many high quailty setups tend to line up with most (not all) data feeds. Its nice that the S/R levels line up.
That's EXACTLY the thought I had! SRs are there to be clearly seen indeed, irrespective of PA. I think you are right about good setups (i.e. AAA+ PBs) being present on all data feeds.
One Chart is Worth Ten Thousand Words.
  • #57,537
  • Mar 8, 2010 5:05am Mar 8, 2010 5:05am
Quoting Forex007
That's EXACTLY the thought I had! SRs are there to be clearly seen indeed, irrespective of PA. I think you are right about good setups (i.e. AAA+ PBs) being present on all data feeds.
The recent Usd/Jpy Daily BUOB (March 4th) is a good example.
Indicators show the past. Price Action "Indicates" the future.
  • #57,538
  • Mar 8, 2010 5:20am Mar 8, 2010 5:20am
Hello,
I think there has been talk of the gbpchf weekly pin.
I wanted to clarify if you still use this as a pin when there is the gap between it and the previous candle? It's not between the eyes as a pin is supposed to be.
It is the same thing with the eurgbp weekly.
Could someone please tell me if you consider these as pins?

Thanks heaps.
Cherry
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  • #57,539
  • Mar 8, 2010 5:28am Mar 8, 2010 5:28am
I need a little help on this one. I usually can figure out what the clue was that could have told me why a setup failed. (The way I learn best)
But the daily PB failure mentioned in jarroo's post #57526 has got me baffled. Except for the fact I cant find any real strong resistance till about 1.0664 to use for confluence. And maybe that is the clue no confluence that I see except you can make a case for a RZone between 1.0467 and 1.0349.
Any thoughts?
  • #57,540
  • Mar 8, 2010 5:32am Mar 8, 2010 5:32am
Quoting Cherry
Hello,
I think there has been talk of the gbpchf weekly pin.
I wanted to clarify if you still use this as a pin when there is the gap between it and the previous candle? It's not between the eyes as a pin is supposed to be.
It is the same thing with the eurgbp weekly.
Could someone please tell me if you consider these as pins?

Thanks heaps.
Cherry
Hey Cherry,

I'm not a pro, but even if you consider it as a PB, the first area is very very near.

So if it's not an A+ setup i would have pass it (like I did).

Hope it helps.
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