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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

  • #58,581
  • Mar 18, 2010 8:26am Mar 18, 2010 8:26am
Quoting lovejoy80
Update - actually added a 4th position base don the 5min chart...Price touched the TL and I scrolled down the time frames to look how it reacted and we got a really nice PB with divergence... price is struggling to break the 1.6200 area at the moment.
Did a smiler thing on EG.
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  • #58,582
  • Mar 18, 2010 8:27am Mar 18, 2010 8:27am
Also the plum line shows a PPZ level on the 4 hour chart which we would be heading into after the break. Very good chance this will cause a reaction, be it a stall or reversal. Our 1st target, previous bar Low, is a 4 hour PPZ level but not a Daily PPZ. There sure is a lot near traffic on this one.
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Indicators show the past. Price Action "Indicates" the future.
  • #58,583
  • Mar 18, 2010 8:30am Mar 18, 2010 8:30am
Quoting nasir.khan
Did a smiler thing on EG.
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Off the 8960 area? i.e. after a break of the 4H BEOB and pullback to that area which was a PPZ area?
  • #58,584
  • Mar 18, 2010 8:39am Mar 18, 2010 8:39am
Quoting arctos
Seeing the recent lack of good pins/BUOB/BEOB on daily, just thought I'll re-quote this old old post I just read today (to re-affirm to myself and the other newcomers I suppose).



Original post here.


On a side note - if waiting for A+ setups on daily is so rare, not to mention needing to accept losses as not all A+ setups are winners, then the 3 months demo Jim suggested isn't going to be enough isn't it?
*is getting bored of waiting*...
What do guys suggest to those who dont have access to their charts during the day?
I had last week off and was able to stare at my monitor the whole day and see PA happen. However, recently there hasnt been much in terms of PA on daily/weekly.

How do people manage this problem?
  • #58,585
  • Mar 18, 2010 8:40am Mar 18, 2010 8:40am
Quoting lovejoy80
Off the 8960 area? i.e. after a break of the 4H BEOB and pullback to that area which was a PPZ area?

.
  • #58,586
  • Mar 18, 2010 8:55am Mar 18, 2010 8:55am
jump, jump, jump !!!!

I am sitting on the freaking Tarmac in Atlanta waiting for a damn gate to clear. Every airline sucks friends. 40 minutes so far. The airlines are in serious need of regulation. They cannot handle it themselves.



Quoting jarroo
Also the plum line shows a PPZ level on the 4 hour chart which we would be heading into after the break. Very good chance this will cause a reaction, be it a stall or reversal. Our 1st target, previous bar Low, is a 4 hour PPZ level but not a Daily PPZ. There sure is a lot near traffic on this one.
I'm pretty much done with all this ...
  • #58,587
  • Mar 18, 2010 8:57am Mar 18, 2010 8:57am
Quoting arctos
Seeing the recent lack of good pins/BUOB/BEOB on daily, just thought...
The 3 month grace period so to speak is all but a guideline. It gives a rough idea of something to give people a bit more structure to just throwing money around. If it takes you 4 or 5 no biggie. The ability to sit on your hands is HUGE my friends. B/c when it comes down to trading your method you develop you have to be flexible. Months will be good/bad and everything in b/w. Case in point I might have 20 trades one month and 8 the next. Now if I tried to be the same every month I would force trades and that would probably lead to disaster for how I trade. So it is the ability to sit on your hands b/w your good trades for your method that determine a large part of someones success in my eyes

Mike
  • #58,588
  • Mar 18, 2010 8:57am Mar 18, 2010 8:57am
Quoting GotPips
What do guys suggest to those who dont have access to their charts during the day?
I had last week off and was able to stare at my monitor the whole day and see PA happen. However, recently there hasnt been much in terms of PA on daily/weekly.

How do people manage this problem?

You cannot trade if you cannot see your charts.

Stick with the dailies
I'm pretty much done with all this ...
  • #58,589
  • Mar 18, 2010 9:07am Mar 18, 2010 9:07am
Quoting GotPips
What do guys suggest to those who dont have access to their charts during the day?
I had last week off and was able to stare at my monitor the whole day and see PA happen. However, recently there hasnt been much in terms of PA on daily/weekly.

How do people manage this problem?
I think those who are starting on the daily/weekly as per james need to watch more charts. Commodities, futures, equities, more forex pairs(don't fear those exotics ).

Nothing wrong with watching the lower timeframes if you have the time, chart time is always good. But keep your J16 minimum requirements demo on its own.

Just my thoughts of course
Mike
  • #58,590
  • Mar 18, 2010 9:09am Mar 18, 2010 9:09am
Quoting mbqb11
I think those who are starting on the daily/weekly as per james need to watch more charts. Commodities, futures, equities, more forex pairs(don't fear those exotics ).

Nothing wrong with watching the lower timeframes if you have the time, chart time is always good. But keep your J16 minimum requirements demo on its own.

Just my thoughts of course
Mike

Peso, anyone?
I'm pretty much done with all this ...
  • #58,591
  • Mar 18, 2010 9:10am Mar 18, 2010 9:10am
Quoting StoragePro
jump, jump, jump !!!!

I am sitting on the freaking Tarmac in Atlanta waiting for a damn gate to clear. Every airline sucks friends. 40 minutes so far. The airlines are in serious need of regulation. They cannot handle it themselves.

I was talking about chart traffic not air traffic.

Oh, lol . . . isn't it a fun way to travel SP, lol. Don't you wish you could just fly.
Indicators show the past. Price Action "Indicates" the future.
  • #58,592
  • Mar 18, 2010 9:14am Mar 18, 2010 9:14am
Quoting jarroo
No, I didn't add to my position at the 1.5200. Although it would have been a great place to do so since it complimented the Daily BUOB nicely. I am still in this trade with my 2nd half. 1st half was taken off near the 1.5200.

I will add to my position when an obvious PA setup present itself. I would like to see this happen at the 1.5500.

Yes, the continuation PB I have drawn on my chart is actual size. lol.
i see that you have it all planned for the next week
  • #58,593
  • Mar 18, 2010 9:15am Mar 18, 2010 9:15am
Nice break but no surprises where it hit and retraced.
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Indicators show the past. Price Action "Indicates" the future.
  • #58,594
  • Mar 18, 2010 9:18am Mar 18, 2010 9:18am
Quoting StoragePro
Peso, anyone?
my little brother just flew to mexico today so he could use some
  • #58,595
  • Mar 18, 2010 9:23am Mar 18, 2010 9:23am
Quoting ppfx
i see that you have it all planned for the next week
lol. Not exactly, that was just random scribbles to where I would like to see Price go, 1.5500.

What is planned, albeit long (mid) term based, is that my stop loss is below the 1.5200 on the 2nd Half.
Indicators show the past. Price Action "Indicates" the future.
  • #58,596
  • Mar 18, 2010 9:26am Mar 18, 2010 9:26am
Quoting StoragePro
Peso, anyone?
No one will ever let you forget Mike. lol
Indicators show the past. Price Action "Indicates" the future.
  • #58,597
  • Mar 18, 2010 9:29am Mar 18, 2010 9:29am
Quoting jarroo
No one will ever let you forget Mike. lol
nope, no they won't LOL
  • #58,598
  • Mar 18, 2010 9:34am Mar 18, 2010 9:34am
Quoting mbqb11
nope, no they won't LOL
Hey mike can you point me to that post or which was the one on charts.
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  • #58,599
  • Mar 18, 2010 9:34am Mar 18, 2010 9:34am
Quoting nasir.khan
Hey mike can you point me to that post.
.
Nope , can't for the life of me remember anything about that sorry

I can remember every other post in this 3900 page monster tho
  • #58,600
  • Mar 18, 2010 9:35am Mar 18, 2010 9:35am
Quoting mbqb11
nope, no they won't LOL


Nothing but love, nothing but love.

And perhaps a taco ...
I'm pretty much done with all this ...
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