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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

  • #59,441
  • Mar 29, 2010 2:40am Mar 29, 2010 2:40am
Quoting nasir.khan
A location.....
.
Now your thinking like Rac, find some strong higher time frame PPZ levels then bombard it with confluences that make sense.

If the Cad is turning over to an uptrend then these retracement levels, S/R levels and trendline confluences make sense. Only if we are trending up. Are we?
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Indicators show the past. Price Action "Indicates" the future.
  • #59,442
  • Edited 3:02am Mar 29, 2010 2:47am | Edited 3:02am
Quoting jarroo
Now your thinking like Rac, find some strong higher time frame PPZ levels then bombard it with confluences that make sense.

If the Cad is turning over to an uptrend then these retracement levels, S/R levels and trendline confluences make sense. Only if we are trending up. Are we?
Yep
I solved many puzzles in the last 10 days. Too many and too big that i may explod with joy.
  • #59,443
  • Mar 29, 2010 3:02am Mar 29, 2010 3:02am
pin bar off TL break i.e. breakout and pullback...could lead to an early setup for a consolidation breakout too...that would be nice
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  • #59,444
  • Mar 29, 2010 3:03am Mar 29, 2010 3:03am
i feel like I should be sleeping right now...
Many choose unhappiness over uncertainty.
  • #59,445
  • Mar 29, 2010 3:07am Mar 29, 2010 3:07am
Guys

Anyone taken the Ib4 setup on the Us/Nzd weekly chart?
PA is where its at!!
  • #59,446
  • Mar 29, 2010 3:12am Mar 29, 2010 3:12am
Quoting spookie94
thanks to all for the response, I had been using S/R levels for my stops in the past, but I see from your 2nd chart I should look further back in time for confermation of those levels. One quick question, do you usually give a few pip buffer past the PBs for entries to reduce fake outs?
Yes, you want to give a buffer on any PA setup. The higher the time frame the more of a buffer you want to give.

You want the setup to prove itself with a hard momentum break. This gives me confirmation that the setup is correct.

Many times a setup won't break or may break by a few pips only to retrace back into the setup. A buffer gives more room for it to move and prove if the setup is working.
Indicators show the past. Price Action "Indicates" the future.
  • #59,447
  • Mar 29, 2010 3:16am Mar 29, 2010 3:16am
Quoting jarroo
Yes, you want to give a buffer on any PA setup. The higher the time frame the more of a buffer you want to give.

You want the setup to prove itself with a hard momentum break. This gives me confirmation that the setup is correct.

Many times a setup won't break or may break by a few pips only to retrace back into the setup. A buffer gives more room for it to move and prove if the setup is working.
Jarroo

What size of buffer do you normally use for a weekly setup?
PA is where its at!!
  • #59,448
  • Mar 29, 2010 3:20am Mar 29, 2010 3:20am
Quoting bertie123
Jarroo

What size of buffer do you normally use for a weekly setup?

Between 10-20 pips.

It depends on how the Daily bars (candles) look like prior to the Weekly setup break. Meaning if I have strong big Bullish bars just prior to my Weekly bullish PB I may use a smaller buffer.
Indicators show the past. Price Action "Indicates" the future.
  • #59,449
  • Mar 29, 2010 3:26am Mar 29, 2010 3:26am
Quoting lovejoy80
pin bar off TL break i.e. breakout and pullback...could lead to an early setup for a consolidation breakout too...that would be nice
hi lovejoy80,

does that mean we go short below 1.0368 ?
  • #59,450
  • Mar 29, 2010 3:29am Mar 29, 2010 3:29am
Quoting roundrock
hi lovejoy80,

does that mean we go short below 1.0368 ?
I went short couple of pips below break of PB - low of PB was 1.0396 - I'm actually @ BE now as it has hit my first problem target area.
  • #59,451
  • Mar 29, 2010 3:39am Mar 29, 2010 3:39am
Quoting roundrock
hi lovejoy80,
does that mean we go short below 1.0368 ?
will u go short here based on YOUR thought process or because u have a similar thought process as lovejoy's?
if your answer is NO, then u shouldn't short.

u shouldnt trade based simply on what u see here, unless u understand the thought process undergone by the poster or u have a similar thought process as the poster.
remember, we all have different tastes, personalities, risk profiles, thought processes..
trade only if a setup is congruent with your OWN thought process.
  • #59,452
  • Mar 29, 2010 3:44am Mar 29, 2010 3:44am
Quoting supremeChaos
will u go short here based on YOUR thought process or because u have a similar thought process as lovejoy's?
if your answer is NO, then u shouldn't short.

u shouldnt trade based simply on what u see here, unless u understand the thought process undergone by the poster or u have a similar thought process as the poster.
remember, we all have different tastes, personalities, risk profiles, thought processes..
trade only if a setup is congruent with your OWN thought process.
Nicely put...a good point well made
  • #59,453
  • Mar 29, 2010 3:56am Mar 29, 2010 3:56am
Quoting supremeChaos
will u go short here based on YOUR thought process or because u have a similar thought process as lovejoy's?
if your answer is NO, then u shouldn't short.

u shouldnt trade based simply on what u see here, unless u understand the thought process undergone by the poster or u have a similar thought process as the poster.
remember, we all have different tastes, personalities, risk profiles, thought processes..
trade only if a setup is congruent with your OWN thought process.
spot on supremo, but its frustrating sometimes when you are learning to see others taking good trades which you have not spotted.......but agree with every word you say!! You have to strike a balance using this thread and thinking for yourself.

berti
PA is where its at!!
  • #59,454
  • Mar 29, 2010 3:57am Mar 29, 2010 3:57am
Quoting jarroo
Now your thinking like Rac, find some strong higher time frame PPZ levels then bombard it with confluences that make sense.

If the Cad is turning over to an uptrend then these retracement levels, S/R levels and trendline confluences make sense. Only if we are trending up. Are we?
well id rather see it go down for another 100-200 pips
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i hope the daily it closes below 1.0230 or better say below 1.0200
  • #59,455
  • Mar 29, 2010 4:09am Mar 29, 2010 4:09am
Quoting ppfx
well id rather see it go down for another 100-200 pips

i hope the daily it closes below 1.0230 or better say below 1.0200
The 1.0300 is a strong Weekly/Monthly PPZ level as with the 1.0200. The trend is definitely down. I still think that price is going to sniff out that 1.0000. Price sure like running to those BRNs. We shall see.
Indicators show the past. Price Action "Indicates" the future.
  • #59,456
  • Mar 29, 2010 4:17am Mar 29, 2010 4:17am
Quoting jarroo
The 1.0300 is a strong Weekly/Monthly PPZ level as with the 1.0200. The trend is definitely down. I still think that price is going to sniff out that 1.0000. Price sure like running to those BRNs. We shall see.
if its going to 'sniff' the 1.0000 it would an excellent begining of the new month

like you said we will see
  • #59,457
  • Mar 29, 2010 5:48am Mar 29, 2010 5:48am
Quoting jarroo
The 1.0300 is a strong Weekly/Monthly PPZ level as with the 1.0200. The trend is definitely down. I still think that price is going to sniff out that 1.0000. Price sure like running to those BRNs. We shall see.
200 holding nicely and it's looking good on a 4H line chart also. Formed a 1H small lousy pin. lol
.
  • #59,458
  • Mar 29, 2010 5:53am Mar 29, 2010 5:53am
Is anyone on Eur/Cad or Eur/Aus weekly?
  • #59,459
  • Mar 29, 2010 5:57am Mar 29, 2010 5:57am
Setup for the ej a couple of days ago with a daily PB that found support at 120 which also coincided to the mark with the 78.6 fib retracement, a 10 pip break at 121.70 above the high kept us out of trouble, it was worth the wait and now approaching a double high at within a few pips of 125.20 a break above this level would take us to 127 a very strong PPZ lets see what comes of it ? Stay focused......and good luck all
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Without women, money would have no meaning - Aristotle Onassis
  • #59,460
  • Mar 29, 2010 6:07am Mar 29, 2010 6:07am
Quoting PrincoPrinco
Is anyone on Eur/Cad or Eur/Aus weekly?
I have short on the EURCAD which I sold at 3807 (Gap Trade) SL nearly hit by a few pips directly after moving to BE lol

How is your trade fairing my friend ?
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Without women, money would have no meaning - Aristotle Onassis
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