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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

  • #66,181
  • Jun 13, 2010 9:00pm Jun 13, 2010 9:00pm
Quoting jarroo
I like the most recent swing Highs/Lows for the Fibs. 10300 looks pretty strong.
Hello Jarroo,
So, you think that PA should occur in 10300 area?
  • #66,182
  • Jun 13, 2010 9:09pm Jun 13, 2010 9:09pm
Quoting jarroo
" No, . . its not at a swing High" stop right there. Then its not setup we would take . . remember back to basics.

Also, get rid of the Fibs . . its not the 38.2 that holding it up its the 1.4600 PPZ level. The 38.2 fib level is a retracement level to go long (in this case) once Price passed this level is no longer a valid Ret. level. Also its a confluencing tool meaning it has to line up with a PPZ level.
Hey Jarroo,
To add to this, would we put less importance on the fact that there is a BEOB because of its location? Meaning there is a small up trend and BEOBs signify a continuation pattern, downward move.
  • #66,183
  • Jun 13, 2010 9:10pm Jun 13, 2010 9:10pm
Quoting Pinbar
Doesn't Fib! Not to us, maybe to his GF!
Not even. Mike, the smooth operator.
Bundy's status today: "Waiting..."
  • #66,184
  • Jun 13, 2010 9:34pm Jun 13, 2010 9:34pm
EUR/CHF is pushing the 38.2 and creeping closer to the 1.4000 area.

This fibo tool I posted for Lasvangoose is interesting, alerts you to which Time Frame fibo has been violated.
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  • #66,185
  • Jun 13, 2010 10:04pm Jun 13, 2010 10:04pm
Quoting bundyraider
That Mike doesn't fib!!
lol I think they get in his way.
Indicators show the past. Price Action "Indicates" the future.
  • #66,186
  • Jun 13, 2010 10:09pm Jun 13, 2010 10:09pm
Quoting Pinbar
Yes, possibly keep an eye on it.

Thanks Jarroo


EDIT:

Jarroo

Looking at the 365, 150 & 50 EMAs in such a downturn, I imagine we may possibly see some Bearish PA?

I am not sure about the role of the EMAs, I know we use them as S & R and as confluence but in such a downturn of the EMA as we see on Major TF M1, W1 does this make us be more inclined to have a bearish bias in PA or is this pure counter trend setups we are looking for?
EMAs . . . . as a confluencing tool with S/R & PPZs.

More of a Bearish bias.

We need a whole lot bigger PA to counter that down trend.
Indicators show the past. Price Action "Indicates" the future.
  • #66,187
  • Jun 13, 2010 10:11pm Jun 13, 2010 10:11pm
Quoting extraneo
Hello Jarroo,
So, you think that PA should occur in 10300 area?

Yes preferablely bearish PA because it will be at a swing high.
Indicators show the past. Price Action "Indicates" the future.
  • #66,188
  • Jun 13, 2010 10:30pm Jun 13, 2010 10:30pm
Quoting spookie94
Hey Jarroo,
To add to this, would we put less importance on the fact that there is a BEOB because of its location? Meaning there is a small up trend and BEOBs signify a continuation pattern, downward move.
Well Yes (I think, if I inderstand you correctly), One thing that the BEOB shows when they're not swing High or don't have any other supporting confluences, like a wedge breakout or breakout pull back or etc., they can be very risky to trade.

But as confirmation that the down trend is still strong or going on then Yes. Bearish/Bullish PA in a down/up trend, no matter where they are located, is always a good confirmation of a continuing trend.
Indicators show the past. Price Action "Indicates" the future.
  • #66,189
  • Jun 13, 2010 10:51pm Jun 13, 2010 10:51pm
Hey Pb.

Remember the Weekly PB on the Nzd/Usd? Well, the PB never broke the Low, so its still valid by definition.

What was your entry on that PB, I forgot 1.6912? or something.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,190
  • Jun 13, 2010 11:00pm Jun 13, 2010 11:00pm
Quoting jarroo
Hey Pb.

Remember the Weekly PB on the Nzd/Usd? Well, the PB never broke the Low, so its still valid by definition.

What was your entry on that PB, I forgot 1.6912? or something.

Here it is.

Quoting Pinbar
Demo Order in place.
We were following the James16 "This is Critical" number 4.

Buy stop .6912 1st target .6965.

Let's see what happens.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,191
  • Jun 13, 2010 11:02pm Jun 13, 2010 11:02pm
Quoting jarroo
Hey Pb.

Remember the Weekly PB on the Nzd/Usd? Well, the PB never broke the Low, so its still valid by definition.

What was your entry on that PB, I forgot 1.6912? or something.
on the weekly the last bar has formed a Buob

is right what I see?
  • #66,192
  • Jun 13, 2010 11:04pm Jun 13, 2010 11:04pm
Quoting extraneo
on the weekly the last bar has formed a Buob

is right what I see?

Yes, by about 10 pip from the top.
Indicators show the past. Price Action "Indicates" the future.
  • #66,193
  • Jun 13, 2010 11:07pm Jun 13, 2010 11:07pm
Quoting jarroo
Yes, by about 10 pip from the top.
thanks Jarroo.
  • #66,194
  • Jun 13, 2010 11:11pm Jun 13, 2010 11:11pm
Quoting extraneo
thanks Jarroo.

I like the .7000.
Indicators show the past. Price Action "Indicates" the future.
  • #66,195
  • Edited 11:51pm Jun 13, 2010 11:30pm | Edited 11:51pm
Quoting proletary
Rac-man meanig raczekfx? He would go for a touch trade wouldn't he? Touch trades are a no-go zone for me, at least for now. I still have to develop that specific feeling for price, call it intuition or whatever. Raczek amazed me with his trades to the point of disbelief.

Of course the 1.2150 level stays valid throughout the whole potential move, giving hints, on where the bulls would want go.

Pls point out any flaws of my reasoning, or hints what to add to the analysis.

Quoting jarroo
Its a classic Rac (Raczek) setup. . . Support turning into Resistance (or a PPZ level), 61.8 fib, trendline confluence . . this is the KABoom setup. Your other areas you have noted are ok but for now this is the setup.

The fact that it didn't go Kaboom could be telling, meaning that there might be something else going on. . . .time and patience will tell for sure but i like its odds for going down.
Hey proletary.

This is what I meant about "something else going on". Price broke through to the upside, pretty strong too.

That's the beauty of PPZ levels, they are "flip zones" meaning there's usually a reaction sharply in one direction or the other. So when a strong level, like the 1.2150 doesn't react as strong as we would like to see based on the strong confluence of the level. Support turning into Resistance. The down trend may be stalling out or Price is just hanged around his level, knocking on the door to knock it down.

Don't get me wrong, It did give a reaction and some pips were offered and taken. But . . . . something else maybe going on.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,196
  • Jun 14, 2010 12:00am Jun 14, 2010 12:00am
Quoting jarroo
Hey proletary.

This is what I meant about "something else going on". Price broke through to the upside, pretty strong too.

That's the beauty of PPZ levels, they are "flip zones" meaning there's usually a reaction sharply in one direction or the other. So when a strong level, like the 1.2150 doesn't react as strong as we would like to see based on the strong confluence of the level. Support turning into Resistance. The down trend may be stalling out or Price is just hanged around his level, knocking on the door to knock it down.

Don't get...
also the area 1.2200 is a good level of s/r...
  • #66,197
  • Jun 14, 2010 12:15am Jun 14, 2010 12:15am
Nice 1 hr BUOB on USDCAD at a confluenced area. I have entered aggresively on a retrace to the previous bar highs at around the 50 retrace of the bar.
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  • #66,198
  • Jun 14, 2010 12:20am Jun 14, 2010 12:20am
Quoting extraneo
also the area 1.2200 is a good level of s/r...

Good point extraneo.

These support levels 1.2200, 1.2175, 1.1250 these are all areas of the PPZone that can fullfill this Support into Resistance. Or you could look at it as Support already turned into Resistance last week and now were turning this level back into Support. That down trend is tough to fight.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,199
  • Jun 14, 2010 12:21am Jun 14, 2010 12:21am
Quoting fxprocessor
Nice 1 hr BUOB on USDCAD at a confluenced area. I have entered aggresively on a retrace to the previous bar highs at around the 50 retrace of the bar.

1.0300 is a strong Weekly PPZ.
Indicators show the past. Price Action "Indicates" the future.
  • #66,200
  • Jun 14, 2010 12:23am Jun 14, 2010 12:23am
Quoting fxprocessor
Nice 1 hr BUOB on USDCAD at a confluenced area. I have entered aggresively on a retrace to the previous bar highs at around the 50 retrace of the bar.
Real nice trade here.
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