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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

  • #60,901
  • Apr 15, 2010 4:41am Apr 15, 2010 4:41am
Quoting squeezy
well that looks like i18b, i believe
im not really into ibs but ofcourse i know that you that its all about the location.
since im more into the location myself, ill be looking out for ibs around location of interest
good work nasir, good work
I also don't know how they count inside bars. lol.

It's all about location dude, and PA is a bonus.
.
  • #60,902
  • Apr 15, 2010 4:43am Apr 15, 2010 4:43am
Quoting squeezy
this is my own view on eurcad, i would like to see one of those Mike's big pin/buob before considering this trade
But see how 62 Fib + 1.35 + Monthly PPZ is lining up to the exact pip. It's a rare one.
.
  • #60,903
  • Apr 15, 2010 4:52am Apr 15, 2010 4:52am
GPD/USD 4 hr

BEOB
BRN ABOVE 1.5500
Swing High
little traffic ?
shorted the break of1.5450 area
into 1st target support area and RN 1.5410 area

Daily(not Shown) 365 ma above price bar
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  • #60,904
  • Apr 15, 2010 4:54am Apr 15, 2010 4:54am
Quoting squeezy
lol
this was my thinking at the time and after but now the play is over, on to the next one
view charts
too bad i was asleep when 94.00 was almost reached.
on your first chart, u said u were looking for PA.
well, there was an IPB &/or 4-bar PB
  • #60,905
  • Apr 15, 2010 4:58am Apr 15, 2010 4:58am
Quoting nasir.khan
But see how 62 Fib + 1.35 + Monthly PPZ is lining up to the exact pip. It's a rare one.
.
ouch! my monthly chart is messing up cant view what u r talking about.....i could show you how im viewing my 1hr chart....but its not really in line with a buy though(only if i get really good/big size reversal bar).....
im sure u know we have been in a strong downtrend for a while now...
im looking for price to make lows,lower lows then pullback to 1.36 area and short
Simplicity is the key to success
  • #60,906
  • Edited 5:17am Apr 15, 2010 4:58am | Edited 5:17am
Quoting jeurre
do you have some rules and qualifications....
as u read further along this thread, u will learn & be able to formulate your own rules/qualifications. start with post #1.
i used to be a very impatient guy too.
i learned a lot from this thread. you WILL too



EDIT:
rules/qualifications may revolve around/involve these:
-Location is more important than bar shape/form
-Bigger PA is preferred
-trade setups with Confluence (like divergence, round number, space, fib retracement, etc)
-be aware of traffic
-trade away from PPZ/ S&R, not into it
etc
  • #60,907
  • Apr 15, 2010 5:11am Apr 15, 2010 5:11am
Quoting supremeChaos
too bad i was asleep when 94.00 was almost reached.
on your first chart, u said u were looking for PA.
well, there was an IPB &/or 4-bar PB

hmm, thnx for pointing out, pls view chart S
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Simplicity is the key to success
  • #60,908
  • Apr 15, 2010 5:16am Apr 15, 2010 5:16am
Quoting Atc
GPD/USD 4 hr
...
what do u want us to say?
decent-sized BEOB.
just noticed this trade already moved in your favor...
i was supposed to say that be aware of possible traffic from Last Tuesday's highs. as u know, (BEOB broke hard/) price moved past through it with momentum, & that's what we want to happen!
now, it's all about trade management.
u can exit some at 1.5400 & leave some positions open.
manage it as best as u can
  • #60,909
  • Apr 15, 2010 5:23am Apr 15, 2010 5:23am
Quoting squeezy
hmm, thnx for pointing out, pls view chart S
in the chart u said, "it's a bit small for an hourly trade"
u must be referring to the IPB
whether u look at it as an IPB or 4-bar PB, look at the succeeding reaction:
price bounced up quickly (as evidenced by the bullish bars/candles after the IPB/4-bar PB)

i believe the location played a big part here (your blue PPZ & possibly the trendline/trendline break), more than the small PA (IPB/4-bar PB).
  • #60,910
  • Apr 15, 2010 5:28am Apr 15, 2010 5:28am
Quoting supremeChaos
what do u want us to say?
I'm a rookie who needed some feedback if I was seeing signals correctly(according to J16)

Thanks Supreme
  • #60,911
  • Apr 15, 2010 6:08am Apr 15, 2010 6:08am
Quoting Atc
I'm a rookie who needed some feedback if I was seeing signals correctly(according to J16)

Thanks Supreme
It's a nice reversal bar but we would like to see these in the context of a continuation of a down trend of a swing high. This particular bar will probably continue downwards in my opinion but there are lots of potential support areas e.g. 1.5380 daily support which will make it a choppy trade. Given that we usually place our stop loss above these bearish bars this gives us a poor risk reward ratio and therefore lots of worry. A better trade would have been to see daily pivot point R1 and the confluence of 1.55 and take a short trade off that figure with a tight stop loss. Also there was some bearish divergence there. You see how easy it is with hindsight? Anyway, I'm here waiting for a better set up. Hope it helped a bit...
Gone to a better place
  • #60,912
  • Apr 15, 2010 6:22am Apr 15, 2010 6:22am
Quoting Atc
I'm a rookie who needed some feedback if I was seeing signals correctly(according to J16)...
i hope u didnt see my post in a bad light. My apologies if u did.
what i meant to say was that, imho, u made a good observation of the current setup & did fairly well in that trade so i was not sure what u want us to say/what feedback u want from us.
Keep it up Atc!
  • #60,913
  • Apr 15, 2010 6:37am Apr 15, 2010 6:37am
Quoting supremeChaos
in the chart u said, "it's a bit small for an hourly trade"
u must be referring to the IPB
whether u look at it as an IPB or 4-bar PB, look at the succeeding reaction:
price bounced up quickly (as evidenced by the bullish bars/candles after the IPB/4-bar PB)

i believe the location played a big part here (your blue PPZ & possibly the trendline/trendline break), more than the small PA (IPB/4-bar PB).
yup very very correct Supreme
you took the location words out of my mouth
Simplicity is the key to success
  • #60,914
  • Apr 15, 2010 6:48am Apr 15, 2010 6:48am
Quoting smikester
It's a nice reversal bar but we would like to see these in the context of a continuation of a down trend of a swing high. This particular bar will probably continue downwards in my opinion but there are lots of potential support areas e.g. 1.5380 daily support which will make it a choppy trade. Given that we usually place our stop loss above these bearish bars this gives us a poor risk reward ratio and therefore lots of worry. A better trade would have been to see daily pivot point R1 and the confluence of 1.55 and take a short trade off that figure...

Excellent --much appreciated I see your analysis--awesome--thx for your perspective
  • #60,915
  • Apr 15, 2010 6:53am Apr 15, 2010 6:53am
Quoting supremeChaos
i hope u didnt see my post in a bad light. My apologies if u did.
what i meant to say was that, imho, u made a good observation of the current setup & did fairly well in that trade so i was not sure what u want us to say/what feedback u want from us.
Keep it up Atc!
No harm done---in fact beat me up if you want i can take your critique

Just thankful you are here to help

I'm still getting the protocol down for this thread

Have a great weekend to you and all of the wonderful "helpers" here!
  • #60,916
  • Apr 15, 2010 8:22am Apr 15, 2010 8:22am
nice, supremeChaos, what is your favorite location ? I read part of the thread, and I am aware of swing high/swing low, the concept is great, but, seems only valid in hindersight, how do you usually identify them,please? you are very helpful, supremeChaos, just need more clarity to learn the method, so, pardon me for asking question after question.

Quoting supremeChaos
as u read further along this thread, u will learn & be able to formulate your own rules/qualifications. start with post #1.
i used to be a very impatient guy too.
i learned a lot from this thread. you WILL too



EDIT:
rules/qualifications may revolve around/involve these:
-Location is more important than bar shape/form
-Bigger PA is preferred
-trade setups with Confluence (like divergence, round number, space, fib retracement, etc)
-be aware of traffic
-trade away from PPZ/ S&R, not into it
etc
  • #60,917
  • Apr 15, 2010 8:42am Apr 15, 2010 8:42am
Hello Guys,

My name's Andrew and I have been following this thread for quite some time in the undercover mode. I've finally decided to register because I want to thank all of you (and later hopefully contribute as well) for making this thread what it is - the best thread about trading I've ever come across.

I've got a little question for those who are, or have at some point been, part of the Private Forum. Would you consider it to be worth it to join the PF for someone for whom 130 USD monthly is currently quite a lot of money (I'm wondering how much more additional info is to be found there than what's present in the public thread and whether that info could speed up the learning process).

Thanks in advance for your answer.
  • #60,918
  • Apr 15, 2010 8:43am Apr 15, 2010 8:43am
Quoting Cbh123
Hi Jonners67,

I just noticed something on your post and wanted to comment. I'm not sure how long you've been trading with this method, so if you already knew this please forgive me and realize this post is to help newer traders.

The bar you traded here is not a pinbar, because the close is not withing the previous bar. It is easy to mistake a bar that looks like a pinbar, for a pinbar, if we are not careful to make sure that it meets all of the requirements (open and close within previous bar, nose protrudes from previous bar, etc.).

The close...
Cory, you are, of course, right. I looked at it very quickly as I was in a rush (dangerous) and it looked such a solid area I went for it. I guess that it emphasises the fact that we should find the location first, then look for the PA (I recall Trader_Dante saying this was the way to look at it).

Thanks

J67
  • #60,919
  • Apr 15, 2010 9:00am Apr 15, 2010 9:00am
Quoting jeurre
...what is your favorite location? I read part of the thread, and I am aware of swing high/swing low, the concept is great, but, seems only valid in hindsight, how do you usually identify them,please?...
valid in hindsight?
not really. u just have to experience it to see/believe it.
when price moves up/down, creating a swing high/low, & u see space to the left of current price (that is, u dont see price action to the left of the swing high/low), then it is a valid swing high/low -- u can see/distinguish it in real time.
ok, my eyes are , i made a random search for u.
here are some random posts/charts for u:
here (swing high),
here (Nov2007 showing swing high),
here (Jan & June2003 showing swing high & higher swing high, respectively), here (FIRST chart: March2003 swing low which in hindsight was an extreme swing low; & Dec2003 extreme swing high, distinguishable just by looking at the WHOLE chart; SECOND chart Mar2008 swing low)
here (swing high & low here)
here (FIRST chart: swing high Dec2008; SECOND Chart: Sept2009 swing high THIRD chart: swing low Oct2009)
here (swing low & high), here (A is swing low, B is higher swing low, 1 is swing high)

what's important is to zoom out & compare current price location versus the rest of the chart. in other words, view current price in context of the whole chart.
if price is 'above the clouds' (& most price action is below the clouds), then price is at a swing high. reverse for a swing low.

to be honest, this post took longer than expected & im sleepy (im nearing my bedtime; you are from Asia too, so u know). so i hope this post still makes sense.
there are a lot of helpful people here, so u wont have any question UNaswered unless this thread moves too fast again.

Never stop learning!
  • #60,920
  • Apr 15, 2010 10:10am Apr 15, 2010 10:10am
Hello everyone,

I have been reading this thread for a month. I learn a lot from all helpers. Thank you all unselfish senior members.

Here is my question:
Different brokers have different system time, so that the data on charts is different. For daily charts, there is only slight difference; but on h4 charts, I think the difference is quite big.
The following 4h charts are from FXPro and AlpariUS.
Which broker's system time setting is more matching the market? Which broker do you recommend?

Thanks

Jason
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