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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

  • #70,181
  • Jul 29, 2010 9:38pm Jul 29, 2010 9:38pm
Quoting jarroo
The 1.3100 is a strong confluenced PPZ level. Bearish PA here would be nice indeed.

If Price breaks through this level and acts as Support (again) that would surely show the strength of the uptrend.

Jarroo if EU breaks the 1.3100 and it holds as support, I am looking at the 1.3265 area as being the FTA. Not sure if I have this correct.

We have this possible nice setup on a Friday where a lot of people who were long are going to be taking profits.
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  • #70,182
  • Jul 29, 2010 9:40pm Jul 29, 2010 9:40pm
Quoting supremeChaos
for questions, go & directly PM atclarkson (J16 EA owner)
clarkson is busy with various things and hasnt had time to log on here for a while so, I know him and was the first one that was released the ea so you can pm me if you have any questions
  • #70,183
  • Jul 29, 2010 10:03pm Jul 29, 2010 10:03pm
Quoting Pinbar
Jarroo if EU breaks the 1.3100 and it holds as support, I am looking at the 1.3265 area as being the FTA. Not sure if I have this correct.

We have this possible nice setup on a Friday where a lot of people who were long are going to be taking profits.
Very good analysis Pb. The support for a uptrend continuation may come by using the 1.31 as support but also the 1.3000 as well.

Yes I like that 1.3265ish level. Looks like good previous Support that could now act as Resistance.
Let's take a closer look at that level. Price breaks through this level a few times and retests it, forming a couple of nice BEOBs as continuation setups or Support turning into Resistance. Notice that 2nd BEOB broke and never looked back.

So Yes, that level would be a great area for a target and/or PA setups.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,184
  • Jul 29, 2010 10:12pm Jul 29, 2010 10:12pm
Spent a few hours yesterday going over Mike's break out trade stuff. So so good. The whole order flow thing with break out trading makes a lot of sense to me. Squeeze, pullback, boom!

Such good R:R
  • #70,185
  • Jul 29, 2010 10:22pm Jul 29, 2010 10:22pm
Quoting edge540
I had to confirm what "slade1986" had to say,I took my 1st trade on May 25th and to date have completed 15 trades for an account growth of 12.46%.I've only traded daily and weekly charts and only pinbars and outside bars.I'm a member of the group and spend a couple of hours a day studying the material.THIS STUFF REALLY WORKS!
awesome dude! quality not quantity , that is what I like too
  • #70,186
  • Jul 29, 2010 10:40pm Jul 29, 2010 10:40pm
Quoting jarroo
Very good analysis Pb. The support for a uptrend continuation may come by using the 1.31 as support but also the 1.3000 as well.

Yes I like that 1.3265ish level. Looks like good previous Support that could now act as Resistance.
Let's take a closer look at that level. Price breaks through this level a few times and retests it, forming a couple of nice BEOBs as continuation setups or Support turning into Resistance. Notice that 2nd BEOB broke and never looked back.

So Yes, that level would be a great area for a target and/or PA setups.

Thanks for the input jarroo.

It will be interesting to watch and see how price reacts at this area.
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  • #70,187
  • Jul 29, 2010 11:06pm Jul 29, 2010 11:06pm
Quoting Pinbar
Thanks for the input jarroo.

It will be interesting to watch and see how price reacts at this area.
Its not so much of a compression type pattern your looking at Pb, the BEOB. Its more a battle of buyers and sellers fighting it out at a strong support level. And the sellers winning breeding strong momentum to the down side.

A compression type pattern is more like an I4B or a wedge breakout pattern that shows Price building momentum in a tight (compressed) range.
Indicators show the past. Price Action "Indicates" the future.
  • #70,188
  • Jul 29, 2010 11:27pm Jul 29, 2010 11:27pm
jarroo, are you biased to bullish for the moment? I may be very naive to think 1.3100 is the place where price has very high probabily to bounce off down here, just feel a bit not quite understandable that you are looking at 1.3265ish before 1.3100 being taken out. I maybe read your comment wrongly. just give some more clarity on your thought, thanks

jeurre



Quoting jarroo
Very good analysis Pb. The support for a uptrend continuation may come by using the 1.31 as support but also the 1.3000 as well.

Yes I like that 1.3265ish level. Looks like good previous Support that could now act as Resistance.
Let's take a closer look at that level. Price breaks through this level a few times and retests it, forming a couple of nice BEOBs as continuation setups or Support turning into Resistance. Notice that 2nd BEOB broke and never looked back.

So Yes, that level would be a great area for a target and/or PA setups.
  • #70,189
  • Jul 29, 2010 11:36pm Jul 29, 2010 11:36pm
come hang out!!

http://www.james16group.us/Guests/guestchat.html
  • #70,190
  • Jul 29, 2010 11:44pm Jul 29, 2010 11:44pm
Quoting Donkey
Absolutely awesome! Are you taking your profits at FTAs?
I'm using FTA's more to reduce risk than TP's,it's worked for me sometimes and against others.Managing trades seems to be more challenging than actually entering them.
  • #70,191
  • Jul 29, 2010 11:45pm Jul 29, 2010 11:45pm
Quoting jeurre
jarroo, are you biased to bullish for the moment? I may be very naive to think 1.3100 is the place where price has very high probabily to bounce off down here, just feel a bit not quite understandable that you are looking at 1.3265ish before 1.3100 being taken out. I maybe read your comment wrongly. just give some more clarity on your thought, thanks

jeurre
I don't think your naive for thinking that the 1.3100 is a good place for Price to bounce down from. If you're seeing the strong confluenced level that I am seeing that is present there. Previous strong PPZ level, 365 ema, and you could throw in there a fib retracement level.

I do have a bias of more bullish movement based on the Big Bullish bars over the past month or so. Pb and others were talking about if this uptrend continues, where would the next FTA or Resisance level be located. Thus, talk of the 1.3265 level.

Let me ask you this jeurre, How strong would the uptrend be if the 1.3100 broke hard?
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Indicators show the past. Price Action "Indicates" the future.
  • #70,192
  • Jul 29, 2010 11:59pm Jul 29, 2010 11:59pm
Quoting jeurre
jarroo, are you biased to bullish for the moment? I may be very naive to think 1.3100 is the place where price has very high probabily to bounce off down here, just feel a bit not quite understandable that you are looking at 1.3265ish before 1.3100 being taken out. I maybe read your comment wrongly. just give some more clarity on your thought, thanks

jeurre
Here's another reason why the 1.3100 could bounce down. The Monthly PB hit its target, previous bar low at the 1.3100. Now what usually happens when a PA setup hits its target? Although my target would have been the 1.3000 . . lol
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Indicators show the past. Price Action "Indicates" the future.
  • #70,193
  • Jul 30, 2010 12:06am Jul 30, 2010 12:06am
hi, jarroo. by the way this pair moves, and the number of conflu cluster around this 1.3100 level(ppz,TL,fib 32/61,BRN, ma and a downtrend most importantly), it looks like to me the chance of hard break would be slim in my humble opinion.

but, good question. what if it breaks 1.3100, maybe not as strong as a hard break. in order to answer this, i revisited the charts. i think it may need some breathing before continue its journey. if that is the case, I meant if 1.3100 could not serve its purpose and turnaround current up leg, then, it may reach the 1.4570 where you can find a down trendline that sit on a longer term wave. however, i think there will be some sideway move in between.

the market always prove me wrong, so, just throw an idea for more wisdom. thanks, jarroo

jeurre




Quoting jarroo
I don't think your naive for thinking that the 1.3100 is a good place for Price to bounce down from. If you're seeing the strong confluenced level that I am seeing that is present there. Previous strong PPZ level, 365 ema, and you could throw in there a fib retracement level.

I do have a bias of more bullish movement based on the Big Bullish bars over the past month or so. Pb and others were talking about if this uptrend continues, where would the next FTA or Resisance level be located. Thus, talk of the 1.3265 level.

Let me ask you this jeurre,...
  • #70,194
  • Jul 30, 2010 12:09am Jul 30, 2010 12:09am
yes, super spot on, i just wanted to say the same.



Quoting jarroo
Here's another reason why the 1.3100 could bounce down. The Monthly PB hit its target, previous bar low at the 1.3100. Now what usually happens when a PA setup hits its target? Although my target would have been the 1.3000 . . lol
  • #70,195
  • Jul 30, 2010 12:11am Jul 30, 2010 12:11am
This could work for a few ...
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  • #70,196
  • Jul 30, 2010 12:18am Jul 30, 2010 12:18am
Quoting jeurre
hi, jarroo. by the way this pair moves, and the number of conflu cluster around this 1.3100 level(ppz,TL,fib 32/61,BRN, ma and a downtrend most importantly), it looks like to me the chance of hard break would be slim in my humble opinion.

but, good question. what if it breaks 1.3100, maybe not as strong as a hard break. in order to answer this, i revisited the charts. i think it may need some breathing before continue its journey. if that is the case, I meant if 1.3100 could not serve its purpose and turnaround current up leg, then, it may reach...
A hard break or a strong plotting move through the 1.3100 would mean that the uptrend is pretty darn strong and fighting it would be . .naive . without some serious Bearish PA action . .we're talking big. lol

We'll let the high quality PA show us the way be it Bearish or Bullish.

And some nice Bearish PA at the 1.3100 and through the 1.3000 would be nice.
Indicators show the past. Price Action "Indicates" the future.
  • #70,197
  • Jul 30, 2010 12:25am Jul 30, 2010 12:25am
Quoting pipmyride
This could work for a few ...
That .7200 got some good history as a PPZ level. That little PB is going to need some help, but it could be good to some previous bar lows, pmr.
Indicators show the past. Price Action "Indicates" the future.
  • #70,198
  • Jul 30, 2010 12:28am Jul 30, 2010 12:28am
Quoting jarroo
That .7200 got some good history as a PPZ level. That little PB is going to need some help, but it could be good to some previous bar lows, pmr.
Yes there is also a 50 fib i didnt draw in of the last swing this pin is sitting right on it .. you're right - see wot happens at the traffic overhead
  • #70,199
  • Jul 30, 2010 12:32am Jul 30, 2010 12:32am
Quoting pipmyride
Yes there is also a 50 fib i didnt draw in of the last swing this pin is sitting right on it .. you're right - see wot happens at the traffic overhead
That may be all it takes to set off a runner pmr. I like the small risk, tight stop loss it has . . . almost like a tough trade.
Indicators show the past. Price Action "Indicates" the future.
  • #70,200
  • Jul 30, 2010 1:05am Jul 30, 2010 1:05am
there is something brewing on usd/cad.
some inside bars waiting for a break...
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