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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

  • #60,801
  • Apr 14, 2010 2:49am Apr 14, 2010 2:49am
Quoting jarroo
Yes I noticed this too. Especially the Big Round Numbers PPZs.
But there are thing you can't see on a chart that could halt or even turn the price.

I was reading this post couple of days ago. As i found it relative so throwing it in.

http://www.forexfactory.com/showpost...ostcount=43953

and what about long lost monthly PPZ's. You can easily miss them on a 4h or daily chart.
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  • #60,802
  • Apr 14, 2010 2:54am Apr 14, 2010 2:54am
Quoting nasir.khan
But there are thing you can't see on a chart that could halt or even turn the price.

I was reading this post couple of days ago. As i found it relative so throwing it in.

http://www.forexfactory.com/showpost...ostcount=43953

and what about long lost monthly PPZ's. You can easily miss them on a 4h or daily chart.
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Additionally to that post, fib expansions would be a good candidate for future support and resistance where there was no previously known support/resistance. (If price ever makes an all time high or low)
  • #60,803
  • Apr 14, 2010 2:55am Apr 14, 2010 2:55am
Quoting nasir.khan
But there are thing you can't see on a chart that could halt or even turn the price.

I was reading this post couple of days ago. As i found it relative so throwing it in.

http://www.forexfactory.com/showpost...ostcount=43953

and what about long lost monthly PPZ's. You can easily miss them on a 4h or daily chart.
.
Good point. And another great post from joel.

Starting on the Monthly and Weekly time frames for info is a must, for sure.
Indicators show the past. Price Action "Indicates" the future.
  • #60,804
  • Apr 14, 2010 3:06am Apr 14, 2010 3:06am
Quoting lovejoy80
I reckon you'll get another chance...it initially bounced of a 4HR PPZ and is now retracing from another 4H PPZ...the TL now lines up with the lower PPZ...Oil is bouncing of a confluenced area too.
No your TL and PPZ won't hold price will break it.

Ok now see what we get on Double Bottom.
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  • #60,805
  • Apr 14, 2010 3:15am Apr 14, 2010 3:15am
Quoting nasir.khan
No your TL and PPZ won't hold price will break it.

Ok now see what we get on Double Bottom.
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lol...that double bottom is weekly PPZ (as I'm sure you know)...if only Oil was at resistance / double top too...
  • #60,806
  • Apr 14, 2010 3:49am Apr 14, 2010 3:49am
Quoting Delfino
Additionally to that post, fib expansions would be a good candidate for future support and resistance where there was no previously known support/resistance. (If price ever makes an all time high or low)
Well i don't use them, But again if you'r Fib Expansion lines up with a long term PPZ it could be a nice confluence.
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  • #60,807
  • Apr 14, 2010 4:40am Apr 14, 2010 4:40am
Quoting nasir.khan
Check these beauty people.

Just 12 mins............
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Non of them break. SL hit on EJ touch.
Waiting for the Double Tops now.
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  • #60,808
  • Apr 14, 2010 4:54am Apr 14, 2010 4:54am
Quoting nasir.khan
Non of them break. SL hit on EJ touch.
Waiting for the Double Tops now.
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Thanks for the heads up, Nasir. I have been watching this AUD/JPY triple/quadruple top too. Divergence all over the place and just waiting now for the price action at 87.30 - 50 and I nearly jumped the gun on the H1 pin bar...
Gone to a better place
  • #60,809
  • Apr 14, 2010 5:04am Apr 14, 2010 5:04am
Quoting smikester
Thanks for the heads up, Nasir. I have been watching this AUD/JPY triple/quadruple top too. Divergence all over the place and just waiting now for the price action at 87.30 - 50 and I nearly jumped the gun on the H1 pin bar...
GJ is also looking good at 145.
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  • #60,810
  • Apr 14, 2010 5:35am Apr 14, 2010 5:35am
Quoting nasir.khan
GJ is also looking good at 145.
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Plus if we get poor retail sales and CPI data out of US (and poor JP Morgan results would help) then this could be a good catalyst for strong JPy gains this afternoon....especially with dow hitting 1140 weekly resistance and forming a 1h breaish pin bar...sound sensible?
  • #60,811
  • Apr 14, 2010 5:45am Apr 14, 2010 5:45am
Quoting lovejoy80
Plus if we get poor retail sales and CPI data out of US (and poor JP Morgan results would help) then this could be a good catalyst for strong JPy gains this afternoon....especially with dow hitting 1140 weekly resistance and forming a 1h breaish pin bar...sound sensible?
The whole point of this thread is PA. I think you're right and I see the Dow correction giving dollar strength but you won't act on it until you get some PA confirmation, will you? Or you may be banished forever...
Gone to a better place
  • #60,812
  • Apr 14, 2010 6:02am Apr 14, 2010 6:02am
Hi, I want to learn your method, here is a short trade triggered based on below reason ：double top, pinbar break.

if the stop were taken out, then, reverse to long as the breakout method LJ and other successful traders here are doing.

am I doing correct or wrong? thanks
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  • #60,813
  • Apr 14, 2010 6:03am Apr 14, 2010 6:03am
Quoting smikester
The whole point of this thread is PA. I think you're right and I see the Dow correction giving dollar strength but you won't act on it until you get some PA confirmation, will you? Or you may be banished forever...

I disagree the whole point of this thread is spotting heavily confluenced locations...then looking for PA at these areas to give you a headsup as to which direction represents the highest probability trade...sometimes you don't need PA if there are other correlations or such heavy confluence that you do not need PA to point you in the right direction.
  • #60,814
  • Apr 14, 2010 6:03am Apr 14, 2010 6:03am
Quoting smikester
The whole point of this thread is PA. I think you're right and I see the Dow correction giving dollar strength but you won't act on it until you get some PA confirmation, will you? Or you may be banished forever...
PA rules but will be keeping an eye on Jpy currencies today. Will have to wait for dailies though as I am still on J16 basic requirements! doing fine so far.
PA is where its at!!
  • #60,815
  • Apr 14, 2010 6:12am Apr 14, 2010 6:12am
Have had 4 winning trades (all pins) between this week and last week and now in the 'waiting patiently' mode for the next A+ setup. I am starting to believe in the power of the J16 methods and for the first time in ages I am optimistic about my trading.
PA is where its at!!
  • #60,816
  • Apr 14, 2010 6:15am Apr 14, 2010 6:15am
Quoting jarroo
I thought I would show this interesting Daily IPB on the Gbp/Usd.

As we know, Bullish IPB, like any other Bullish PA, are best played at swing Lows, at a great location.

That being said, IPB could can also be played as a continuation setup or a break out pull back PA. There is a Monthly PB on the Gbp/Usd, sure the size is nothing to write home about but you gotta love the confluenced location it is sitting on. Monthly PPZ and 61.8 fib / 50% ret levels.

The entry on the Daily IPB is the Close which is 1.5379. The High of the Monthly PB is...
Looks like you're having fun with your IPBs Jim.

I didn't take this because like you said they are best played at swing lows and major pull backs to up trends. This wasn't quite there for me,

You with all your experience rode a brilliant move.

g.
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I believe . . .
  • #60,817
  • Apr 14, 2010 6:17am Apr 14, 2010 6:17am
Quoting jarroo
I thought I would show this interesting Daily IPB on the Gbp/Usd.

As we know, Bullish IPB, like any other Bullish PA, are best played at swing Lows, at a great location.

That being said, IPB could can also be played as a continuation setup or a break out pull back PA. There is a Monthly PB on the Gbp/Usd, sure the size is nothing to write home about but you gotta love the confluenced location it is sitting on. Monthly PPZ and 61.8 fib / 50% ret levels.

The entry on the Daily IPB is the Close which is 1.5379. The High of the Monthly PB is...
Jaroo ----Great stuff appreciate the observations

Kasir----thanks for your posts

Lovejoy---great job

Ghous ---excellent posts

And to everyone----thanks--I.m learning alot here

I just wish i could post a chart or 2 ---i am having a hard time with the file---to large--it's driving me nuts.
  • #60,818
  • Apr 14, 2010 6:24am Apr 14, 2010 6:24am
Quoting lovejoy80
I disagree the whole point of this thread is spotting heavily confluenced locations...then looking for PA at these areas to give you a headsup as to which direction represents the highest probability trade...sometimes you don't need PA if there are other correlations or such heavy confluence that you do not need PA to point you in the right direction.
For those that follow fundies I am sure they use them as just another confluence factor.

The core of this thread always was, is and will remain Price action teachings at good confluence pivot zones.

g.
I believe . . .
  • #60,819
  • Apr 14, 2010 6:26am Apr 14, 2010 6:26am
Quoting Atc
Jaroo ----Great stuff appreciate the observations

Kasir----thanks for your posts

Lovejoy---great job

Ghous ---excellent posts

And to everyone----thanks--I.m learning alot here

I just wish i could post a chart or 2 ---i am having a hard time with the file---to large--it's driving me nuts.
I think it's Nasir.

Don't save your file as BMP, save it as GIF.
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  • #60,820
  • Apr 14, 2010 6:27am Apr 14, 2010 6:27am
Quoting Atc
-i am having a hard time with the file---to large--it's driving me nuts.

Go here and have a mess about. http://www.forexfactory.com/showthread.php?t=53366 It won't disrupt anybody. Hope it helps...
Gone to a better place
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