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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

  • #64,641
  • May 24, 2010 3:43am May 24, 2010 3:43am
Quoting fxprocessor
Great start to the week. Took the 1 hr GBPUSD pin at top of range / daily PPZ / round number 1.45. Have exited at 50 fib ret of last move.

I love it when they retest the break like that. ( on the Hourly)
Indicators show the past. Price Action "Indicates" the future.
  • #64,642
  • May 24, 2010 3:45am May 24, 2010 3:45am
Quoting jarroo
I love it when they retest the break like that.
I noticed that too mate. Clearing out stops before moving lower maybe.
  • #64,643
  • May 24, 2010 3:48am May 24, 2010 3:48am
Quoting jarroo
For me . . if I trade on the 4 hour chart . . . the 4 hour PA will be off the Daily Weekly PPZ levels. And my trade managaement wiil be guided off the 4 hour PPZ levels, for S/L, targets, etc. Make sense?
actually i am looking at this eurusd. Although not at the highest point of swing high, but the 4 hour BEOB was off daily PPZ lvl. So let's see how the price goes....
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  • #64,644
  • May 24, 2010 3:48am May 24, 2010 3:48am
Quoting fxprocessor
I noticed that too mate. Clearing out stops before moving lower maybe.
They are not that exacting in a consolidation area, but they do like to retest or clear stops.
Indicators show the past. Price Action "Indicates" the future.
  • #64,645
  • May 24, 2010 3:53am May 24, 2010 3:53am
Quoting novice198
Hi,...
Hi novice198, welcome to the thread.

Very well done with your TP/'trade management' levels there. Very well done.

For entries we also look for the confluence of two or more important 'studies'. ( 'Studies' being Fibs, S/R levels, Trend lines and EMAs etc.)

You've identified a tradable pin at a swing high that has come off of an EMA.

It's also good that it came off of a "PPZ" too as shown in my edit of your chart below. This, in my opinion helped your trade a lot in the entry department. It gave extra validity to the idea in confluence with your EMA.

Well done again with recognising the potential trouble areas. Shows how valuable those videos are. You've made a giant leap real early with that. Awesome.
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Bundy's status today: "Waiting..."
  • #64,646
  • May 24, 2010 3:53am May 24, 2010 3:53am
Quoting skinfx
actually i am looking at this eurusd. Although not at the highest point of swing high, but the 4 hour BEOB was off daily PPZ lvl. So let's see how the price goes....
More like in the middle. The 1.2500 and the trend is definitely going to be a frend on this one.
Indicators show the past. Price Action "Indicates" the future.
  • #64,647
  • May 24, 2010 4:00am May 24, 2010 4:00am
Later gang.


Should be an interesting week.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #64,648
  • May 24, 2010 4:35am May 24, 2010 4:35am
Here's one I have a pending on

GBP/CHF
2 HOUR TF
SWING HIGH
BEOB
DIVERGANCE
ENGULFING 3 PRIOR BARS
CUTTING A MINOR PPZ

I like this setup although the pair is somewhat choppy right now

Lets see what happens
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  • #64,649
  • May 24, 2010 5:02am May 24, 2010 5:02am
truely nice, jarroo. let's see if it will eat up this weekly pin, that will be 1.4200

Quoting jarroo
Its always nice when they break hard too.
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  • #64,650
  • May 24, 2010 5:23am May 24, 2010 5:23am
did anyone get that 2h beob on gb/us???(fxpro)

lovely break

looks like we're back to trend..??

jon
PATIENCE... DISCIPLINE
  • #64,651
  • May 24, 2010 5:32am May 24, 2010 5:32am
EDIT: jus catchin up and i see some of you took the 1h pin...nice
i was a bit late for that,

jon
PATIENCE... DISCIPLINE
  • #64,652
  • May 24, 2010 5:53am May 24, 2010 5:53am
Quoting skinfx
actually i am looking at this eurusd. Although not at the highest point of swing high, but the 4 hour BEOB was off daily PPZ lvl. So let's see how the price goes....
Skinfx & Jarroo

We can consider this a BEOB even with 5 pips difference in the highs?

I thought I read that 2 pips is the max allowable difference in any PA.
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  • #64,653
  • May 24, 2010 5:59am May 24, 2010 5:59am
Quoting bundyraider
Hi novice198, welcome to the thread.

Very well done with your TP/'trade management' levels there....
Hi Bundy,
Thanks, for the encouragement. This is just the begining and I hope to learn the art of trading from the gurus and experts. (BTW I see many here). The biggest difference has been the confidence that I have gained by knowing what will happen to PA at which level.
Cheers
Novice198
  • #64,654
  • May 24, 2010 6:13am May 24, 2010 6:13am
Quoting Pinbar
Skinfx & Jarroo
We can consider this a BEOB even with 5 pips difference in the highs?
I thought I read that 2 pips is the max allowable difference in any PA.
probably in skinfx's MT4 broker feed, the difference is only 2pips.
remember, price varies on each feed.

personally, i'll consider that a DBHLC more than a BEOB. (note: not at an ideal location; a possible continuation setup.)
  • #64,655
  • May 24, 2010 6:13am May 24, 2010 6:13am
Quoting jarroo
Nice one novice. Maybe you can show the ones that didn't work out so well.
Hi Jarroo,
Thanks for the encouragement. The EUR/GBP was the 1st setup that I traded using the J16 setup rules.
Here is trade on EUR/CHF that I passed as I was not confident of the PA due to the PPZ which was too close to the possible entry.
I hope the gurus can comment on this trade and my decision.
Also pls cnfm that the MA's 150, 200 and 365 are EMA on close.

Cheers
Novice198
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  • #64,656
  • May 24, 2010 6:49am May 24, 2010 6:49am
novice198,
Hello! im no guru... just a senior newbie
u passed on the trade for a reason. if u are not comfortable in taking such a trade, & u did pass on it, then i think u made a good decision.
perhaps, when u gain experience & consequently confidence, then in the future, who knows.. u'll be treating this particular trade differently & still come out ok.

yes, EMAs on close.
  • #64,657
  • May 24, 2010 7:02am May 24, 2010 7:02am
Quoting Jonnyislost
Here's one I have a pending on

GBP/CHF
2 HOUR TF
SWING HIGH
BEOB
DIVERGANCE
ENGULFING 3 PRIOR BARS
CUTTING A MINOR PPZ

I like this setup although the pair is somewhat choppy right now

Lets see what happens
Canceled the order,
price drifted well away from the entry,
Waiting for something better
  • #64,658
  • May 24, 2010 7:14am May 24, 2010 7:14am
Quoting supremeChaos
Hello! im no guru... just a senior newbie
Whenever I get flooded with PM, or a bunch of i4b questions on this thread, I feel this way too lol!
Many choose unhappiness over uncertainty.
  • #64,659
  • May 24, 2010 7:36am May 24, 2010 7:36am
Quoting supremeChaos
probably in skinfx's MT4 broker feed, the difference is only 2pips.
remember, price varies on each feed.

personally, i'll consider that a DBHLC more than a BEOB. (note: not at an ideal location; a possible continuation setup.)

I see, thanks SC.
yeah, I suppose it depends on how the bars are broken up by the time of the server they are on.


Anyway, it was a good test of PPZ and I am glad to see that the Monthly PPZ in pink was tested by PA after it broke.
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  • #64,660
  • May 24, 2010 8:14am May 24, 2010 8:14am
Quoting novice198
Hi,...
Hey N

Welcome and glad you have gone back to demo. MOst are to prideful until they blow their accounts. So you have already taken CONTROL of your own trading.

You trade is actually very well managed which I am very impressed about so early on. Looks like you might be a fast learner

Best
Mike
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