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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

  • #63,141
  • May 7, 2010 7:02am May 7, 2010 7:02am
Quoting Pinbar
Jarroo. would you be kind enough to throw a pair at me for PPZ practice?

will pop them in and post it.

I am using the Highs and lows on monthly about 500 pips each side of current price then going down to weekly and daily.

Still not comfortable with them, I think it is the way some people mention I still have too many, yet some others do not seem to think so.

Anyway, I would really appreciate it if you could have a quick scan at them and suggest some changes.

Thanks in advance.
Sure thing Pb
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Indicators show the past. Price Action "Indicates" the future.
  • #63,142
  • May 7, 2010 7:04am May 7, 2010 7:04am
Quoting jarroo
Sure thing Pb
Ej, right....Appreciated jarroo.

I could pick my own but, you obviously have more knowledge amd may pick a tricky one.
  • #63,143
  • May 7, 2010 7:06am May 7, 2010 7:06am
Quoting nasir.khan
You know too much Jarroo too much.....
.
lol I don't know squat. But what I do know is that there is heavy momentum to the downside (Gbp. Eur, etc) and that trying to buy into that without some spectacular Bullish PA is a fools game.
Indicators show the past. Price Action "Indicates" the future.
  • #63,144
  • May 7, 2010 7:27am May 7, 2010 7:27am
Quoting jarroo
lol I don't know squat. But what I do know is that there is heavy momentum to the downside (Gbp. Eur, etc) and that trying to buy into that without some spectacular Bullish PA is a fools game.

So is not the time to enter the market?
  • #63,145
  • Edited 8:14am May 7, 2010 7:42am | Edited 8:14am
Quoting extraneo
So is not the time to enter the market?
Its never a good time to just "enter the market", be it today or any other day, if that's what you mean.

We like to enter the market with an A++ trade, a Price Action setup with everything going for it with a good indication where its going to go so we can either exit or adjust our position.
Indicators show the past. Price Action "Indicates" the future.
  • #63,146
  • May 7, 2010 7:45am May 7, 2010 7:45am
Jarroo

EJ is pretty hard to show on H4 on this laptop with that spike today.


Weekly & Daily
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  • #63,147
  • May 7, 2010 7:54am May 7, 2010 7:54am
Quoting Pinbar
Jarroo

EJ is pretty hard to show on H4 on this laptop with that spike today.


Weekly & Daily

Nice Job Pinbar. They look good.


One way to check if your PPZ levels are any good is to go back in history and see how those levels acted in the past. Just uncheck your "Chart autoscroll" and take a look.


Here's what I got.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,148
  • May 7, 2010 8:00am May 7, 2010 8:00am
Thanks Jarro. I appreciate your time.

You seem to have rounded them off much more than I did.


I am trying to place these from right to left as someone mentioned that it is a better way to do it.

Just posting the scroll back so I can compare them more easily.
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  • #63,149
  • May 7, 2010 8:02am May 7, 2010 8:02am
Quoting Pinbar
Jarroo

EJ is pretty hard to show on H4 on this laptop with that spike today.


Weekly & Daily

I missed that level you had . . 134.62 . I like to round that up to a BRN the 135.00. There that's better.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,150
  • May 7, 2010 8:06am May 7, 2010 8:06am
Right, I will start to round them off to the nearest Rn from now on.


Many thanks Jarro.

EDIT
There sure is some nice PA around those areas and swing highs.
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  • #63,151
  • May 7, 2010 8:07am May 7, 2010 8:07am
Quoting Pinbar
Thanks Jarro. I appreciate your time.

You seem to have rounded them off much more than I did.


I am trying to place these from right to left as someone mentioned that it is a better way to do it.

Just posting the scroll back so I can compare them more easily.
Yeah I do round them off a RNs when it makes sense. Just remember that these are zones or areas where Price has turned from Resistance to Support or Support into Resistance. Whether you get them from right to left or left to right.
Indicators show the past. Price Action "Indicates" the future.
  • #63,152
  • May 7, 2010 8:14am May 7, 2010 8:14am
Hello everyone!

I´m sorry if this has been posted and answered to already but

What if we now see big pinbars after this crazy move and pullbacks, are they true buying/selling? I´m feeling I should stay out of this..
  • #63,153
  • May 7, 2010 8:22am May 7, 2010 8:22am
Hey ghous....mind sharing your 12 pairs.....cheers

Quoting ghous
Hey Bryan,

I have been doing it on 4H only across 12 of the commonly traded pairs

g.
  • #63,154
  • May 7, 2010 8:27am May 7, 2010 8:27am
Quoting Pinbar
Jarroo


Weekly & Daily
When you move down to the daily you can really see the weekly PPZ standout. Daily PPZ (in blue) can be found within the Weekly PPZs. But you can see the Weely/Daily PPZ levels rule.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,155
  • May 7, 2010 8:33am May 7, 2010 8:33am
Quoting Pinbar
Many thanks Jarro.

EDIT
There sure is some nice PA around those areas and swing highs.

Yes Pb ! !

You can see now why picking just a random Price Action formation is not the best way to go. PPZ levels play an important role in each setup.

And you can get even pickier.

Excellent Pinbar.



"Sexy PB" . . .I thought I was the only one that thought that way lol.
Indicators show the past. Price Action "Indicates" the future.
  • #63,156
  • May 7, 2010 8:33am May 7, 2010 8:33am
My deep thanks to the seniors and those who all participate here...and to the noobs who ask questions....it all helps.

Just wanted to post 2 charts that I have combined J16 methods with my previous knowledge....

Basically took shorts....due to the trend....took retracement fib 61.8% entries at RN's and previous resistance....took 1st target and moved stop to free trade...waiting for 2nd tgt hit exits at next support levels

Thought I would post to say thanks---FWIW
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  • #63,157
  • May 7, 2010 8:45am May 7, 2010 8:45am
Quoting Atc
My deep thanks to the seniors and those who all participate here...and to the noobs who ask questions....it all helps.

Just wanted to post 2 charts that I have combined J16 methods with my previous knowledge....

Basically took shorts....due to the trend....took retracement fib 61.8% entries at RN's and previous resistance....took 1st target and moved stop to free trade...waiting for 2nd tgt hit exits at next support levels

Thought I would post to say thanks---FWIW
Nice confluenced level with the trend. Well done Rac . . I mean . . . Atc.
Indicators show the past. Price Action "Indicates" the future.
  • #63,158
  • May 7, 2010 9:04am May 7, 2010 9:04am
Quoting jarroo
Nice confluenced level with the trend. Well done Rac . . I mean . . . Atc.
Did I catch your drift....these a Rac type trades?
  • #63,159
  • May 7, 2010 9:05am May 7, 2010 9:05am
Quoting Atc
Did I catch your drift....these a Rac type trades?
Yes they are. Check out his posts, they will look familar.
Indicators show the past. Price Action "Indicates" the future.
  • #63,160
  • May 7, 2010 9:08am May 7, 2010 9:08am
Quoting jarroo
Yes Pb ! !

You can see now why picking just a random Price Action formation is not the best way to go. PPZ levels play an important role in each setup.

And you can get even pickier.

Excellent Pinbar.



"Sexy PB" . . .I thought I was the only one that thought that way lol.

Yes, it is like mapping out hot spots. Now, all I need is the patience to wait for price to come to me rather than chasing it.

Once again thank you for your kindness Jarroo.
A shining example of sharing & caring !



EDIT: too be honest, I had tried drawing PPZ since last December but ended up with so many lines, it was almost impossible to pull the trigger.
Then, I would run off to an INDICATOR, many of them only to find out, they can not draw PPZ like a human.
Still. it didn't stop me searching, putting off the inevitable, learning how to draw them.

Incredible, I must have spent hundreds od hours looking for such an indicator and Jarroo can explain it to me in minutes and have me drawing reasonable PPZ. Dohhhhhhhh
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