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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

  • #61,961
  • Edited 3:35am Apr 27, 2010 3:25am | Edited 3:35am
Quoting mbqb11
That's what it is all about applying it in a way that aligns with your beliefs about the markets. Of course if it doesn't work sometimes we have to shift some views till we get there, but there is no one right way. Take PASR and apply it to what you already know or do and its bound to help most people
Mike
Yes Mike, definitely so. After understanding the PASR principles, it becomes a matter of how to express oneself to the utmost. So therein is profits, and also fulfillment.

It works incredibly well with inter-market stuff.
I do realise that it might not be beneficial to the newer folk here... ain't exactly the most simple stuff in the world..so I've been kinda keeping quiet about it.
But yeah, this is the place that has helped me turn my speculation around. My gratitude. =)

Quoting jarroo
Its all good Cyrus. It fits well. Trading with the trend or PA with the trend is a good thing. Just ask Ryanmcd. lol
Thanks .
Jim
Haha. Yeah, least I can sleep properly. CT gave me THE jitters.
One Mind, Any Market
  • #61,962
  • Apr 27, 2010 3:28am Apr 27, 2010 3:28am
Quoting nasir.khan
I would say know your market and trade how it should be.

I mean i made some 200+ pips on EJ and GU yesterday and 100+ pips today on GC, GU and GJ shorts today.

I took all these trades in tight range's so i treated them the way they should've been i.e no partial profits or moving the stops (mainly today). OUT AT FTA.

But when markets will break these ranges i'll be in the trend trading mode again as i was a month ago.
.
Sounds like you're doing great mate. =)
I begin to see things in %s now. So 50pips can yield more than 100pips in that sense. Depends on your initial risk.

Came from asking myself, "what does the exponential function mean?"

Yeah. I got freakin' OCD. I think about lotsa stuff wrt markets. Heh.
One Mind, Any Market
  • #61,963
  • Apr 27, 2010 3:28am Apr 27, 2010 3:28am
Quoting s005606
Thank you so much Jarroo.....yay, I just realized how foolish I was to ask this question, I just should be looking for PA AGAIN.
A blind trade may work but I would keep the S/L very tight. Bullish PA provides a confirmation, at the least, that your heading in the right direction.
Indicators show the past. Price Action "Indicates" the future.
  • #61,964
  • Apr 27, 2010 3:37am Apr 27, 2010 3:37am
Quoting jarroo
A blind trade may work but I would keep the S/L very tight. Bullish PA provides a confirmation, at the least, that your heading in the right direction.
Thanks for your encouragement Jarroo. You made my day!
Dreams are hard to follow, but don't let anyone, tear them away...
  • #61,965
  • Edited 3:44am Apr 27, 2010 3:43am | Edited 3:44am
Quoting jarroo
Looks good s00. A nice BUOB or bullish PB off that 7200 is what I would be looking for to go long. Breakout-pullback with PA.
Jaroo, s00,

Based on my charts, I would say the pullback should go to the yellow PPZ level (0.717ish) rather than the RN of 0.7200.
PPZ has precedence over RN, no?

CY
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  • #61,966
  • Apr 27, 2010 3:51am Apr 27, 2010 3:51am
Quoting jarroo
Hey Hans.

You basicly got it. Now you just have to wait for the next. Just be very picky: bigger bars, less traffic, strong PPZ levels (like on the Daily and Weekly if your trading on the 4 hour, etc). The really goods one will stand out in a crowd.

Keep it up my friend, you'll get there. Easy stuff.
Thanks for you help and your kind words. I'm going back to patience mode...

BTW, I like my new nickname. It sounds so teutonic!
Thanks J16, Sam Seiden, Udine and Jacko
  • #61,967
  • Edited 4:06am Apr 27, 2010 3:52am | Edited 4:06am
Quoting ertorque
Jaroo, s00,

Based on my charts, I would say the pullback should go to the yellow PPZ level (0.717ish) rather than the RN of 0.7200.
PPZ has precedence over RN, no?

CY
It looks like Price has already test that High on the 12th and is now testing the 7200 which is a strong Daily and Weekly PPZ level. So the RN (7200) being a PPZ level is pretty strong.

Plus the Wedge and s00's Box themselves are also a supportive "level" that adds strength to the setup. You can understand why Mike likes these setups.
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Indicators show the past. Price Action "Indicates" the future.
  • #61,968
  • Apr 27, 2010 3:55am Apr 27, 2010 3:55am
Quoting ertorque
Jaroo, s00,

Based on my charts, I would say the pullback should go to the yellow PPZ level (0.717ish) rather than the RN of 0.7200.
PPZ has precedence over RN, no?

CY
0.7192
.
  • #61,969
  • Apr 27, 2010 3:59am Apr 27, 2010 3:59am
Quoting ertorque
Jaroo, s00,

Based on my charts, I would say the pullback should go to the yellow PPZ level (0.717ish) rather than the RN of 0.7200.
PPZ has precedence over RN, no?

CY
Hi CY, yeah, you are right too.
Pls bear with me as I am not very experieced, but I may try to see this PPZ as a big PPZ area from 0.717ish to 0.7200, and keep my eyes closely to see if there's any PA emerge from this area.

EDIT: Jarroo has already shared his views above, you may ignore my newbie view above.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #61,970
  • Apr 27, 2010 4:03am Apr 27, 2010 4:03am
Quoting s005606
Hi CY, yeah, you are right too.
Pls bear with me as I am not very experieced, but I may try to see this PPZ as a big PPZ area from 0.717ish to 0.7200, and keep my eyes closely to see if there's any PA emerge from this area.

EDIT: Jarroo has already shared his views above, you may ignore my newbie view above.

Let's take a trade on the 4 hour bullish PB and find out . . . shall we.

On the break, of course.
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Indicators show the past. Price Action "Indicates" the future.
  • #61,971
  • Apr 27, 2010 4:10am Apr 27, 2010 4:10am
Quoting jarroo
Let's take a trade on the 4 hour bullish PB and find out . . . shall we.

On the break, of course.
Sure, it'll be a great learning lesson for newbie like me.

UPDATED: On my feed, the current bar hasn't closed yet (2 hrs remaining), but it seems to be rejecting the consolidation box and printing a BuOB (in the making).
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Dreams are hard to follow, but don't let anyone, tear them away...
  • #61,972
  • Apr 27, 2010 4:15am Apr 27, 2010 4:15am
Quoting s005606
Sure, it'll be a great learning lesson for newbie like me.

UPDATED: On my feed, the current bar hasn't closed yet (2 hrs remaining), but it seems to be rejecting the consolidation box and printing a BuOB (in the making).

Its a nice setup. The one thing that is a concern is the size of the PA. If that PB or your potential BUOB was bigger it would be a no brainer. But, let's try it out and see what happens.
Indicators show the past. Price Action "Indicates" the future.
  • #61,973
  • Apr 27, 2010 4:17am Apr 27, 2010 4:17am
Quoting HanSolo
Thanks for you help and your kind words. I'm going back to patience mode...

BTW, I like my new nickname. It sounds so teutonic!
Patience is a good mode to be in , Hans. lol
Indicators show the past. Price Action "Indicates" the future.
  • #61,974
  • Apr 27, 2010 4:41am Apr 27, 2010 4:41am
Quoting jarroo
Its a nice setup. The one thing that is a concern is the size of the PA. If that PB or your potential BUOB was bigger it would be a no brainer. But, let's try it out and see what happens.
Hi Jarroo!!

My Alpari Uk Feed 4H closes in about 20 minutes but also my PA is not strong...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #61,975
  • Apr 27, 2010 4:45am Apr 27, 2010 4:45am
Quoting Chris_B
Hi Jarroo!!

My Alpari Uk Feed 4H closes in about 20 minutes but also my PA is not strong...
It would be best to wait for a bigger stronger PA for this setup. So with this type of smaller PA is kind of like a touch trade with small PA confirmation if that makes sense. In other words, its the location that is the strength of this setup right now.
Indicators show the past. Price Action "Indicates" the future.
  • #61,976
  • Apr 27, 2010 5:04am Apr 27, 2010 5:04am
ok IPB on daily eu, short from 1.3364, took half off ay 1.3320, stop to be.

what think you?
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  • #61,977
  • Apr 27, 2010 5:08am Apr 27, 2010 5:08am
Quoting jarroo
It would be best to wait for a bigger stronger PA for this setup. So with this type of smaller PA is kind of like a touch trade with small PA confirmation if that makes sense. In other words, its the location that is the strength of this setup right now.
Very well said Jarroo. If this setup works out well, then it's a testament of LOCATION, LOCATION, LOCATION again.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #61,978
  • Apr 27, 2010 5:17am Apr 27, 2010 5:17am
Quoting Trndsurfer
ok IPB on daily eu, short from 1.3364, took half off ay 1.3320, stop to be.

what think you?

Well, its not at a swing high or low that we want them to be. Nor at a pullback. It was up against a nice Daily PPZ level, 134.00, trading away from the PPZ is what made it work.

Have you checkout ghous posts and chart examples of these IPBs? If not, I would review them. Not bad, but the location of IPBs are very important.
Indicators show the past. Price Action "Indicates" the future.
  • #61,979
  • Apr 27, 2010 5:18am Apr 27, 2010 5:18am
Quoting Trndsurfer
ok IPB on daily eu, short from 1.3364, took half off ay 1.3320, stop to be.

what think you?
positives- off the 400 brn and 38 fib, ipb bigger tha previous bar, target 300brn and 23.6 fib WITH TREND
  • #61,980
  • Apr 27, 2010 5:22am Apr 27, 2010 5:22am
Quoting s005606
Very well said Jarroo. If this setup works out well, then it's a testament of LOCATION, LOCATION, LOCATION again.

Many people think that Rac does alot of touch trades but actually he'll use PA on a small time frame for confirmation many times. The key for Rac is always LOCATION, LOCATION, LOCATION.
Indicators show the past. Price Action "Indicates" the future.
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