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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

  • #64,041
  • Edited 11:15pm May 17, 2010 11:05pm | Edited 11:15pm
Quoting Pinbar
Thanks Jarroo
Your comments are clearly understood on this point.

Yes, I can see how too much switching to lower TF can confuse the situation. People were talking about the D1 Bullish PB that just formed on GBP/USD and some were looking at H4 and commenting on how the H4 PA was showing Bearish signals. I think Mike also commented on how TF switching can cause Analysis Paralysis.

Also, thanks for Really helping me out with the PPZ, I feel reasonably comfortable with drawing them now. Whereas previously, I was like, 'Hey, is this line really going...

Sure thing PB.

Now don't get me wrong, if a 4 hour BUOB presented itself shortly after this bullish PB I would look to enter at this PA. This does happen at times and compliments the higher time frame PA. But the 4 hour PA setup should stand on its own.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,042
  • May 17, 2010 11:09pm May 17, 2010 11:09pm
Quoting mbqb11
I always tell this story but it's funny and true. The first thing I ever did in trading was use horizontal lines. We(my father myself and his friend) bought when price would cross them in a manner that looked visually correct. Over the course of a few years I complicated things, as I think we do as humans. Slowly I reverted back to a few lines on my chart

Where do you think I learned this stuff. Mike's the man.


And James16, of course . . and Bundy . .and Rac . . and a few others . .
Indicators show the past. Price Action "Indicates" the future.
  • #64,043
  • May 17, 2010 11:32pm May 17, 2010 11:32pm
Quoting Pinbar
I am looking at the GBP/USD PB as I have been from yesterday.

The areas at the arrows, just 26 pips after the break of the Daily PB concern me a little.

Also, the size of the weekly Bearish PA compared to this PB is not gratifying.

Yeah you got too many line going there, PB.

Here's what I'm looking at on the Gbp/Usd.

The 1.4500 is the main focus right now (I believe). It was acting as Support (in green), Price has now broke through that support. Will it now act as Resistance? We shall see.

But Price tends to do just that, after breaking a major Support level. (turn into Res). Price could be in the process, right now in front of our eyes, of building a new PPZ level at the 1.4500.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,044
  • May 17, 2010 11:49pm May 17, 2010 11:49pm
Quoting Pinbar
I am looking at the GBP/USD PB as I have been from yesterday.

The areas at the arrows, just 26 pips after the break of the Daily PB concern me a little.

Also, the size of the weekly Bearish PA compared to this PB is not gratifying.

Oh your other concern . . the arrows . . . if Price breaks that PB will that level ( arrows) come into play. Since there is much Space and time between them to the current Price there won't be a major factor as if they were right next to each other. The beauty of Space. Will Price find a reason to continue its down trend and use that level . . .absolutely.
Indicators show the past. Price Action "Indicates" the future.
  • #64,045
  • May 18, 2010 12:02am May 18, 2010 12:02am
Quoting jarroo
Oh your other concern . . the arrows . . . if Price breaks that PB will that level ( arrows) come into play. Since there is much Space and time between them to the current Price there won't be a major factor as if they were right next to each other. The beauty of Space. Will Price find a reason to continue its down trend and use that level . . .absolutely.

Jarroo, your posts never fail to show me how little I know and simultaneously, present me the delight of how much there is to learn.
  • #64,046
  • May 18, 2010 12:13am May 18, 2010 12:13am
Quoting Pinbar
Jarroo, your posts never fail to show me how little I know and simultaneously, present me the delight of how much there is to learn.
Just keep it simple, as KissFan says. Try not to make it more difficult then it really is. It you find that its getting complicated . . its time for a James16 chart review and go study all of them.

Keeping it simple is the way to go . . . because I'll tell you a little secret . .

. . and I know Mike knows this too . . .

.
.
.
. its the only thing that works.
Indicators show the past. Price Action "Indicates" the future.
  • #64,047
  • May 18, 2010 12:20am May 18, 2010 12:20am
Just what the Doctor ordered I feel, with this twitchy trigger finger.
  • #64,048
  • May 18, 2010 12:25am May 18, 2010 12:25am
Look at Price just testing that left eye ball and Daily Low. Unreal . . but no surprise.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,049
  • May 18, 2010 12:26am May 18, 2010 12:26am
Quoting mbqb11
Don't be so fast to change what you are doing, just continue to learn make mistakes and learn from them.
Mike
Blinding!
Gone to a better place
  • #64,050
  • May 18, 2010 2:55am May 18, 2010 2:55am
Do you think?
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  • #64,051
  • May 18, 2010 3:05am May 18, 2010 3:05am
This H1 pb contradicts the D1 pb.

It has formed by a rapid push up in price with the open of London.

This dropped back creating the wick on that H1 candle.

There is concern about 135 being a dodgy area for a rising price to traverse.
The trend is down and down for the last two weeks.

classic teaching and was just discussed on the forum is you follow the higher time frames.
You don't decide on a tick chart to go long when the weekly chart is saying short.
But we have these other factors to consider in this case.
Was the D1 candle an anomaly of the current wild child movements?
  • #64,052
  • May 18, 2010 3:13am May 18, 2010 3:13am
you're right six gun
However, this pinbar is in the direction of the trend weekly
I look tf4h for confirmation
  • #64,053
  • May 18, 2010 3:43am May 18, 2010 3:43am
Quoting six gun
This H1 pb contradicts the D1 pb.
...
both trade setups can work successfully, depending on trade management, trading style, etc.

having said that, i'd like to know how your chart's daily PB looked like (specifically the PB's close).

in FXDD Demo, that daily PB's close(1.4470) is below the PB open & much lower than the left eye (1.4495). [almost similar case in FXPro live]
PB's ideally should close above the open (for bullish PB) & should close within the left eye.

this daily PB could potentially be a pause PB (a pause in the downtrend), or a potential start of a much more meaningful retracement or minor reversal. that depends if, imho, price stalls at or goes above 1.4600-1.4800 area.
Let's see...
  • #64,054
  • May 18, 2010 3:57am May 18, 2010 3:57am
I justed noticed that my broker introduced a Sunday Bar on the MT4 Platform, James16 mentioned something about this bar and how to trade or not to trade it sometime back........................anyone know where i can find that post or how should we trade based on this Sunday Bars...........bar is the one with a yellow cross........because of this Sunday Bar, i have an IB Fakey Sell Signal which i did not take because i am worried about this Sunday Bar..................does this mean the market was opened or what does it exactly mean? Am told interbankfx has the same thing....is this right?......Cheers
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  • #64,055
  • May 18, 2010 4:09am May 18, 2010 4:09am
The trend is down on GBP/JPY.
My charts are GMT+1 they look slightly different than many on here.
Price double topped on the short time frames and down she goes.
  • #64,056
  • May 18, 2010 4:15am May 18, 2010 4:15am
any comments on this eurjpy pb. my FTA is at 115.80. In H1 i notice that the past 3 candle is reject at 115. So does this means the bar is not breaking hard and may not reach my FTA. I am still learning to manage my trade.

Thanks,
skin
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  • #64,057
  • May 18, 2010 4:23am May 18, 2010 4:23am
Quoting supremeChaos
both trade setups can work successfully, depending on trade management, trading style, etc.

having said that, i'd like to know how your chart's daily PB looked like (specifically the PB's close).

in FXDD Demo, that daily PB's close(1.4470) is below the PB open & much lower than the left eye (1.4495). [almost similar case in FXPro live]
PB's ideally should close above the open (for bullish PB) & should close within the left eye.

this daily PB could potentially be a pause PB (a pause in the downtrend), or a potential start of a much...
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  • #64,058
  • May 18, 2010 4:27am May 18, 2010 4:27am
Quoting Danku
I justed noticed that my broker introduced a Sunday Bar on the MT4 Platform, James16 mentioned something about this bar and how to trade or not to trade it sometime back........................anyone know where i can find that post or how should we trade based on this Sunday Bars...........bar is the one with a yellow cross........because of this Sunday Bar, i have an IB Fakey Sell Signal which i did not take because i am worried about this Sunday Bar..................does this mean the market was opened or what does it exactly mean?...
Ignore sunday bars. They are super low volume, short session and most people dont even show them on charts, since the only people trading them are a couple of hobos under a bridge.
When you have to shoot, shoot. Dont talk.
  • #64,059
  • May 18, 2010 4:33am May 18, 2010 4:33am
do pinbar also tf 4H
do in this case?
pinbar 4h tf follow the trend...
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  • #64,060
  • May 18, 2010 4:39am May 18, 2010 4:39am
Quoting joelcf
hobos under a bridge.
LOL
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