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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

  • #61,621
  • Apr 23, 2010 3:29am Apr 23, 2010 3:29am
Mbqb11,Jaroo,Nasir.Khan,Bundyraider...etc can anyone please kindly help wrt my post #61613 above.

I have been here since December 2009,gone through all the links on the 1st page and have read through to page 332 and want to start using the basics I have grasped, posting my chart and recieve the kind tutorage from you folks...have also gone through all the videos on the Guest area of J16 Group site (man... i recomend greatly for all starters...I still go through over and over and over again)...or must I get through reading the over 4000 pges first? I think I can catch alot while reading and practicing...what do u guys think?
  • #61,622
  • Apr 23, 2010 3:34am Apr 23, 2010 3:34am
Quoting jarroo
I like the 1.0100 again . . .if it gets there.
Jarroo

Nice looking confluence there - is the blue line the 150ema?
PA is where its at!!
  • #61,623
  • Apr 23, 2010 3:43am Apr 23, 2010 3:43am
Quoting jeffokes
Mbqb11,Jaroo,Nasir.Khan,Bundyraider...etc can anyone please kindly help wrt my post #61613 above.

I have been here since December 2009,gone through all the links on the 1st page and have read through to page 332 and want to start using the basics I have grasped, posting my chart and recieve the kind tutorage from you folks...have also gone through all the videos on the Guest area of J16 Group site (man... i recomend greatly for all starters...I still go through over and over and over again)...or must I get through reading the over 4000 pges first?...

Yes that's a bullish PB but as you may know, that we want bullish PBs at swing Lows and this one is at a swing High, not good.

As an IPB its a bearish IPB, the location is very good but on bearish IPB we would like to see the Close lower than the Open. Here's a ghous chart on how to play a bearish IPB. I would suggest to you to search out ghous posts for more info on IPB.


Here's a link that has web based charts.

http://www.dailyfx.com/charts/netdaniachart/
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Indicators show the past. Price Action "Indicates" the future.
  • #61,624
  • Apr 23, 2010 3:45am Apr 23, 2010 3:45am
Quoting bertie123
Jarroo

Nice looking confluence there - is the blue line the 150ema?

Yes, 150 ema at the close.
Indicators show the past. Price Action "Indicates" the future.
  • #61,625
  • Apr 23, 2010 3:55am Apr 23, 2010 3:55am
Quoting jarroo
Yes, 150 ema at the close.
Jarroo

just a quick question-do you draw our fibs at the 'interesting' levels and wait for price to come to you? Thats what I am trying to do rather than just waiting for something to happen.
PA is where its at!!
  • #61,626
  • Edited 4:20am Apr 23, 2010 4:03am | Edited 4:20am
Quoting bertie123
Jarroo

just a quick question-do you draw our fibs at the 'interesting' levels and wait for price to come to you? Thats what I am trying to do rather than just waiting for something to happen.

Well its not just any old fib level, it has to be confluencing with a strong Round Number or better yet, a strong PPZ level at a BRN.

Yes. That's the best way to do it . . Start on the weekly and find your PPZ levels then fine tune them on the Daily at RNs. And just wait for Price to come to these levels carrying some strong big PA with them.
Indicators show the past. Price Action "Indicates" the future.
  • #61,627
  • Apr 23, 2010 4:05am Apr 23, 2010 4:05am
au/us just printad a decent pin, 4h TF . PPZ 50%fib RN....


jon
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PATIENCE... DISCIPLINE
  • #61,628
  • Apr 23, 2010 4:15am Apr 23, 2010 4:15am
Quoting bertie123
Jarroo

just a quick question-do you draw our fibs at the 'interesting' levels and wait for price to come to you? Thats what I am trying to do rather than just waiting for something to happen.

Look at that Gbp/Chf on the Daily. 1.6600 was acting as support now its acting as resistance The 1.6600 is a prior PPZ level with the 61.8 fib and 150 ema confluence.

We are not surprised why it went down from here. The 1.6500 is strong as well. I didn't think price was done with that 1.6500 just yet. But I saw no obvious PA so no trade was taken by me.

I'm sure Rac would have liked it.
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Indicators show the past. Price Action "Indicates" the future.
  • #61,629
  • Apr 23, 2010 4:32am Apr 23, 2010 4:32am
Thanks for that sound advice Jarroo. Keeping an eye on the GB/Chf daily to see what happens. A daily PIn at the close would be nice.
PA is where its at!!
  • #61,630
  • Apr 23, 2010 4:34am Apr 23, 2010 4:34am
Quoting jarroo
Look at that Gbp/Chf on the Daily. 1.6600 was acting as support now its acting as resistance The 1.6600 is a prior PPZ level with the 61.8 fib and 150 ema confluence.

We are not surprised why it went down from here. The 1.6500 is strong as well. I didn't think price was done with that 1.6500 just yet. But I saw no obvious PA so no trade was taken by me.

I'm sure Rac would have liked it.
And the TL..
.
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  • #61,631
  • Apr 23, 2010 4:35am Apr 23, 2010 4:35am
Quoting bertie123
Thanks for that sound advice Jarroo. Keeping an eye on the GB/Chf daily to see what happens. A daily PIn at the close would be nice.

Yes indeed or Daily BEOB.

Seeing how strong the uptrend is, meaning how strong Price cut up through the 1.6500, some bullish PA at the 1.6500 wouldn't be bad either.
Indicators show the past. Price Action "Indicates" the future.
  • #61,632
  • Apr 23, 2010 4:36am Apr 23, 2010 4:36am
Quoting jarroo
Look at that Gbp/Chf on the Daily. 1.6600 was acting as support now its acting as resistance The 1.6600 is a prior PPZ level with the 61.8 fib and 150 ema confluence.

We are not surprised why it went down from here. The 1.6500 is strong as well. I didn't think price was done with that 1.6500 just yet. But I saw no obvious PA so no trade was taken by me.

I'm sure Rac would have liked it.
As Rac would love it I'm even more in love with what I see.

Make this notes 2 day ago ---> patience and waiting

I have a folder full with this kind of chart,there haven't past a day without making notes and afterwards looking for the update to see my fulfilling prophecy(just jk).

all the best!!

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  • #61,633
  • Apr 23, 2010 4:37am Apr 23, 2010 4:37am
Thank you very much Jarroo for your kind respond.
The link - http://www.dailyfx.com/charts/netdaniachart/ opened but this is what I keep seeing (is there something I can/should do? sorry for borderring you this much):-
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  • #61,634
  • Apr 23, 2010 4:37am Apr 23, 2010 4:37am
Quoting nasir.khan
And the TL..
.
Added confluence is always a good thing.
Indicators show the past. Price Action "Indicates" the future.
  • #61,635
  • Apr 23, 2010 4:42am Apr 23, 2010 4:42am
Quoting jeffokes
Thank you very much Jarroo for your kind respond.
The link - http://www.dailyfx.com/charts/netdaniachart/ opened but this is what I keep seeing (is there something I can/should do? sorry for borderring you this much):-
No bother jeff.

Maybe no Java script.

Try this one and pick one that may work.

http://www.dailyfx.com/charts/
Indicators show the past. Price Action "Indicates" the future.
  • #61,636
  • Apr 23, 2010 4:44am Apr 23, 2010 4:44am
Quoting g_j_hook@yah
au/us just printad a decent pin, 4h TF . PPZ 50%fib RN....


jon
IMO it was good for a touch trade @ the PPZ/TL/RN and fib confluence but the the fact we have the 150EMA above the pin and more importantly the pin didnt close above the PPZ makes this a no trade for me...could be wrong of course.
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  • #61,637
  • Apr 23, 2010 4:46am Apr 23, 2010 4:46am
Quoting jarroo
Look at that Gbp/Chf on the Daily. 1.6600 was acting as support now its acting as resistance The 1.6600 is a prior PPZ level with the 61.8 fib and 150 ema confluence.

We are not surprised why it went down from here. The 1.6500 is strong as well. I didn't think price was done with that 1.6500 just yet. But I saw no obvious PA so no trade was taken by me.

I'm sure Rac would have liked it.
Very nice ...I've only just been informed about how 150EMA can act as an additional confluence factor...I took a touch trade but my SL was too tight.
  • #61,638
  • Edited 5:03am Apr 23, 2010 4:47am | Edited 5:03am
Quoting triger88990
As Rac would love it I'm even more in love with what I see.

Make this notes 2 day ago ---> patience and waiting

I have a folder full with this kind of chart,there haven't past a day without making notes and afterwards looking for the update to see my fulfilling prophecy(just jk).

all the best!!
Nice chart triger. Throw some PPZ levels on that chart and looks even better. Wait may you did already.
Indicators show the past. Price Action "Indicates" the future.
  • #61,639
  • Apr 23, 2010 4:50am Apr 23, 2010 4:50am
Quoting triger88990
As Rac would love it I'm even more in love with what I see.

Make this notes 2 day ago ---> patience and waiting

I have a folder full with this kind of chart,there haven't past a day without making notes and afterwards looking for the update to see my fulfilling prophecy(just jk).

all the best!!

Attachment
Very nice Trigger....love the way you analyse price action and look at the bigger picture.
  • #61,640
  • Edited 6:08am Apr 23, 2010 4:54am | Edited 6:08am
Quoting lovejoy80
Very nice ...I've only just been informed about how 150EMA can act as an additional confluence factor...I took a touch trade but my SL was too tight.

Yes they can be tricky. Rac uses like 20-30 pip stop loss and zooms down to the Hourly, I believe. Looking for some PA or other signs of resistance to go down. Like this area in purple.

And yes . . . he's very patient.
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Indicators show the past. Price Action "Indicates" the future.
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