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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

  • #57,901
  • Mar 10, 2010 6:46pm Mar 10, 2010 6:46pm
oh wow... just noticed this... huge R/R potential when it decides to break
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Many choose unhappiness over uncertainty.
  • #57,902
  • Mar 10, 2010 6:46pm Mar 10, 2010 6:46pm
Quoting jarroo
Should be fun to watch brother.

Quoting Ryanmcd
upto 1st blue line then down...
Hey Ryan, I think your on to something with this "with the trend" strategy.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,903
  • Mar 10, 2010 7:05pm Mar 10, 2010 7:05pm
Quoting triger88990
http://www.forexfactory.com/showpost...ostcount=57553

althought the PB wasn't that much in shape look at the break, it was a strong sign of a good setup.But there is an issue we would have heading right in to a big round number 0.7, but knowing what jaroo is preaching we would expect that 0.7 to be taken out.

I think that jaroo would love the break

Remember: " A high probability setup is a high momentum setup"

all the best!!
I don't think Mike would have liked the size as well. But that small PB is supported nicely by the breakout.

Yes, the James16 "This is Critical" is in full play at the 0.7.

It sure is fun when they break like that. Very nice.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,904
  • Edited 7:52pm Mar 10, 2010 7:23pm | Edited 7:52pm
Quoting datogio
thanks buddy, now all I need is Jaroo break of the pb and thats it
Great example(s) about what James talks about trading in a sideways market.

I think alot people get in trouble when they overestimate the obvious targets, previous Highs/Lows and in this case a RN, 1.0700.

And a nice hard break sure makes a great confirmation.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,905
  • Mar 10, 2010 7:54pm Mar 10, 2010 7:54pm
Quoting jarroo
Great example(s) about what James talks about trading in a sideways market.

I think alot people get in trouble when they overestimate the obvious targets, previous Highs/Lows and in this case RN, 1.0700.

And a nice hard break sure makes a great confirmation.
Has anyone really been trying to trade eur/usd, usd/chf the last 3-4 weeks??? this is worse than a sideways market IMO. I won't touch it until it breaks out siginificantly one way or the other. i guess if you play 1hr, you might be able to have made some trades, but as far as daily is concerned, just not for me. yuck.
Many choose unhappiness over uncertainty.
  • #57,906
  • Mar 10, 2010 7:59pm Mar 10, 2010 7:59pm
Quoting Dan Gilbert
Has anyone really been trying to trade eur/usd, usd/chf the last 3-4 weeks??? this is worse than a sideways market IMO. I won't touch it until it breaks out siginificantly one way or the other. i guess if you play 1hr, you might be able to have made some trades, but as far as daily is concerned, just not for me. yuck.
I agree. Its like crossing a very busy street. lol

But its interesting to watch how Price Action Rules.
Indicators show the past. Price Action "Indicates" the future.
  • #57,907
  • Mar 10, 2010 8:13pm Mar 10, 2010 8:13pm
Quoting Dhb
...And the remainder just got taken out for B/E on the pullback. Getting a runner is nice, but what happened with this trade is what you frequently end up with.
Yes, sir. Nicely done Dhb. The next one will go to the moon.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,908
  • Mar 10, 2010 8:32pm Mar 10, 2010 8:32pm
Is anyone else looking at this pb on the $CAD Daily chart? To my untrained eyes, it looks pretty good. Any thoughts?
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  • #57,909
  • Mar 10, 2010 8:40pm Mar 10, 2010 8:40pm
Quoting Pinhead
Is anyone else looking at this pb on the $CAD Daily chart? To my untrained eyes, it looks pretty good. Any thoughts?

I do like the location of the Cad right now. Its in a very strong Weekly PPZ level. But the size of the PB is just to small to justify a strong move upward. If it does move upward strongly, it would probably be due to its location. I would like to see both: Location and size.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,910
  • Mar 10, 2010 8:48pm Mar 10, 2010 8:48pm
Quoting jarroo
Hey Ryan, I think your on to something with this "with the trend" strategy.
lol, i do remember this from monday..... and we all knew what was going to happen, didnt we?
power of s/r and most especially power of the trend
Simplicity is the key to success
  • #57,911
  • Mar 10, 2010 8:56pm Mar 10, 2010 8:56pm
Quoting squeezy
lol, i do remember this from monday..... and we all knew what was going to happen, didnt we?
power of s/r and most especially power of the trend
Indicators show the past. Price Action "Indicates" the future.
  • #57,912
  • Mar 10, 2010 9:07pm Mar 10, 2010 9:07pm
Quoting jarroo
I do like the location of the Cad right now. Its in a very strong Weekly PPZ level. But the size of the PB is just to small to justify a strong move upward. If it does move upward strongly, it would probably be due to its location. I would like to see both: Location and size.
Thanks for the feedback, jarroo. Do you typically go to a higher TF to verify a pinbar's viability?


Mike
  • #57,913
  • Mar 10, 2010 9:16pm Mar 10, 2010 9:16pm
Quoting Dan Gilbert
Ok, I'm starting to feel like a post whore right now... hopefully you guys aren't starting to skim and skip my posts yet

...
Never!
I may not Post here that much but that doesn't mean I don't take your obsevations into consideration.
Keep on Keepin' on.

BMc
  • #57,914
  • Mar 10, 2010 9:41pm Mar 10, 2010 9:41pm
Hi frends i have attached two daily charts of gold and silver, i would like to know is my view correct abt this, should we only trade double top and low close or can we ender this trade also ,at retrasment lvls pls ans my ??? Thanks in adv if you have any suggestion do say so.
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  • #57,915
  • Mar 10, 2010 9:54pm Mar 10, 2010 9:54pm
Quoting Pinhead
Thanks for the feedback, jarroo. Do you typically go to a higher TF to verify a pinbar's viability?


Mike
Hey Mike. I will go to higher times frames to verify PPZ level validity.

It really comes to the size of the PB in its relative time frame that makes it viable. Meaning a 50 pip PB on the Daily is rather small when all the preceeding bars are in the 150-200 pip range. But a 50 pip PB on the hourly when the preceeding bars are 20-30 pips in size. It makes this PB a big PB.

Hope this makes sense.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #57,916
  • Mar 10, 2010 10:07pm Mar 10, 2010 10:07pm
Quoting jarroo
Hey Mike. I will go to higher times frames to verify PPZ level validity.

It really comes to the size of the PB in its relaltive time frame that makes it viable. Meaning a 50 pip PB on the Daily is rather small when all the preceeding bars are in the 150-200 pip range. But a 50 pip PB on the hourly when the preceeding bars are 20-30 pips in size. It makes this PB a big PB.

Hope this makes sense.

Jim
Yeah, that makes sense. I see it now. Thanks, Jim
  • #57,917
  • Mar 10, 2010 10:23pm Mar 10, 2010 10:23pm
Quoting jarroo
Yes, sir. Nicely done Dhb. The next one will go to the moon.
Hi Jaroo
S'pose the different PA here (FXPRO UK) is due to different timezone feeds?

Any thoughts on Nz/USD daily pin breaking 7000?

Thanks
J
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  • #57,918
  • Mar 10, 2010 10:28pm Mar 10, 2010 10:28pm
Quoting rajini
Hi frends i have attached two daily charts of gold and silver, i would like to know is my view correct abt this, should we only trade double top and low close or can we ender this trade also ,at retrasment lvls pls ans my ??? Thanks in adv if you have any suggestion do say so.
Hey Rajini

The Gold is a BEOB - Bearish outside bar. Ideally we want these bars at a better swing high. I marked with a check mark the better place for this bar(especially when starting out we want to be as basic as possible). I also marked where price may end up going and likely the first trouble area. This is where there are multiple highs and lows(marked with arrows) and also a pretty big round number of 1100. As for how to enter. You CAN enter on a retracement, or wait for a break. The bar is not technically valid until it breaks the low. So the conservative traditional way is waiting for the low of that beob to break. Many do play it on a retracement though. For example some people will look for price to retrace to a former high or low, or stick a fib up on it. I personally always wait for the breaks of my bars. So again my main concern would be location of the beob as someone new to this. The silver is a bit better spot but it is sort of a sloppy pin the way it is sitting. If that silver was a beob and closed below say the prior bar, it would be more appealing to me personally.

Hope this helps
Mike
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  • #57,919
  • Edited 10:46pm Mar 10, 2010 10:32pm | Edited 10:46pm
Quoting jspeakman
Hi Jaroo
S'pose the different PA here (FXPRO UK) is due to different timezone feeds?

Any thoughts on Nz/USD daily pin breaking 7000?

Thanks
J


If your feed shows nothng then nothing is there. I will look at 2 to 3 feeds.


?? Yeah it broke the 7000 nicely.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,920
  • Edited 11:29pm Mar 10, 2010 10:40pm | Edited 11:29pm
Quoting rajini
Hi frends i have attached two daily charts of gold and silver, i would like to know is my view correct abt this, should we only trade double top and low close or can we ender this trade also ,at retrasment lvls pls ans my ??? Thanks in adv if you have any suggestion do say so.
this is how i see them, personally i would wait for the pull back to the TL on gold, but it may never happen, damn silver looks interesting but not for selling.

In fact you should only play PA setups on swing highs and swing lows and only on demo account until you're profitable 3 consecutive month... bla bla bla.... that bla bla is the most important and crucial and the hardest part too of this game IMO and could be found in the very beginning of this thread buddy.
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