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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

  • #72,861
  • Aug 26, 2010 1:03am Aug 26, 2010 1:03am
Hey guys, read through Jame's post , great stuff, one thing I hear a lot in higher tf trading is traders adding to their positions "sell rallies, buy the dips" but when price is trending, how are u determining what a dip or rally is ? I know their are continuations patterns, such a bear flags, but i have a hard time seeing where the rally or dips end and price is ready to continue.

thanks.
  • #72,862
  • Aug 26, 2010 1:25am Aug 26, 2010 1:25am
Quoting spookie94
Ok guys tell me what you think
if no big surprises from EURUSD, AUDCHF should move much higher...but these days are very strange... i guess august is always like this...
  • #72,863
  • Aug 26, 2010 1:26am Aug 26, 2010 1:26am
Quoting Uncharted
Hey guys, read through Jame's post , great stuff, one thing I hear a lot in higher tf trading is traders adding to their positions "sell rallies, buy the dips" but when price is trending, how are u determining what a dip or rally is ? I know their are continuations patterns, such a bear flags, but i have a hard time seeing where the rally or dips end and price is ready to continue.

thanks.
Lots of practice and study, price action, and learning good risk management.
Many choose unhappiness over uncertainty.
  • #72,864
  • Aug 26, 2010 1:28am Aug 26, 2010 1:28am
Quoting Uncharted
Hey guys, read through Jame's post , great stuff, one thing I hear a lot in higher tf trading is traders adding to their positions "sell rallies, buy the dips" but when price is trending, how are u determining what a dip or rally is ? I know their are continuations patterns, such a bear flags, but i have a hard time seeing where the rally or dips end and price is ready to continue.

thanks.
A good way to determine these dips and rallies are finding the PPZ levels and/or BRNs, (BRNs tend to be PPZ levels). PPZ levels are best found on the Higher time frames.

If Price is rallying and is heading into one of these levels or is falling back from a rally and heading down to one of the levels, I would take notice.

Throw in some good solid Price Action at these strong levels and a setup may present itself.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,865
  • Aug 26, 2010 1:32am Aug 26, 2010 1:32am
sorry what does BRN stand for? and PPZ is that the same as pivot points?

Quoting jarroo
A good way to determine these dips and rallies are finding the PPZ levels and/or BRNs, (BRNs tend to be PPZ levels). PPZ levels are best found on the Higher time frames.

If Price is rallying and is heading into one of these levels or is falling back from a rally and heading down to one of the levels, I would take notice.

Throw in some good solid Price Action at these strong levels and a setup may present itself.
  • #72,866
  • Aug 26, 2010 1:38am Aug 26, 2010 1:38am
Quoting Uncharted
sorry what does BRN stand for? and PPZ is that the same as pivot points?
lol wouldnt u at least attempt to read 1 or 2 pages of the thread first ??
  • #72,867
  • Aug 26, 2010 1:41am Aug 26, 2010 1:41am
Interesting possible setup later ... price bound between 50 and 618 fib levels and 50 is a solid ppz ... lets see wot happens

Dont like the V shape of the bottom tho
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  • #72,868
  • Aug 26, 2010 1:50am Aug 26, 2010 1:50am
Quoting Uncharted
sorry what does BRN stand for? and PPZ is that the same as pivot points?

Big or Bold Round Numbers like the 1.6000. .8500, 1.000. 1.3000. RNs or Round Numbers are like the 1.6100, 1.6600, .8700, 1.3300.

I agree with pimpmyride, Uncharted, you have a lot of reading to do.
Indicators show the past. Price Action "Indicates" the future.
  • #72,869
  • Aug 26, 2010 1:50am Aug 26, 2010 1:50am
agh i read this then the strats journal its a lot of information to retain, at least for me, i think i might need another go at it.



Quoting jarroo
A good way to determine these dips and rallies are finding the PPZ levels and/or BRNs, (BRNs tend to be PPZ levels). PPZ levels are best found on the Higher time frames.

If Price is rallying and is heading into one of these levels or is falling back from a rally and heading down to one of the levels, I would take notice.

Throw in some good solid Price Action at these strong levels and a setup may present itself.
  • #72,870
  • Aug 26, 2010 1:50am Aug 26, 2010 1:50am
Quoting jarroo
A good way to determine these dips and rallies are finding the PPZ levels and/or BRNs, (BRNs tend to be PPZ levels). PPZ levels are best found on the Higher time frames.

If Price is rallying and is heading into one of these levels or is falling back from a rally and heading down to one of the levels, I would take notice.

Throw in some good solid Price Action at these strong levels and a setup may present itself.
Do you first plot PPZ levels and BRN lines on your charts and then look for the PA around these points?
  • #72,871
  • Aug 26, 2010 2:05am Aug 26, 2010 2:05am
Quoting pipmyride
lol wouldnt u at least attempt to read 1 or 2 pages of the thread first ??
How dare you suggest that people take responsibility for their own trading. Cant the internets just tell me how to make money with only 3 minutes investment of my own time?!
When you have to shoot, shoot. Dont talk.
  • #72,872
  • Aug 26, 2010 2:07am Aug 26, 2010 2:07am
Quoting mihazupan1
Do you first plot PPZ levels and BRN lines on your charts and then look for the PA around these points?

Yes, absolutely.
Indicators show the past. Price Action "Indicates" the future.
  • #72,873
  • Aug 26, 2010 2:14am Aug 26, 2010 2:14am
Just hanging out watching j16 videos as my head has gone in this heat.


Anyway, USD/JPY looks interesting.

BRN, 60 ema, 61.8 & 50 fibo confluence.

A nice H4 PB off the 60 ema with a close just below the 50 would be nice and give us around 37 pips to the FTA.
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  • #72,874
  • Aug 26, 2010 2:14am Aug 26, 2010 2:14am
Hey Adilius rememebr this post. #T is At&t right?

Great example of James16's "This is Critical" . .wouldn't you say?

http://www.forexfactory.com/showpost...ostcount=15568



Quoting jarroo
Looks good Adilius.

I love those Pin Bar looking Outside Bars.

Size looks good. Check out the size of that Weekly BEOB at the beginning of the year. Nice.

I like that the entry point is below the previous bars Highs in white.

Also, check out the Monthly . . notice that the current (Pinbar looking) BEOB is off the previous bar Low of the BIG Monthly BEOB of the beginning of the year . . interesting . . don't you think . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #72,875
  • Aug 26, 2010 2:21am Aug 26, 2010 2:21am
Quoting jarroo
Hey Adilius rememebr this post. #T is At&t right?

Great example of James16's "This is Critical" . .wouldn't you say?

http://www.forexfactory.com/showpost...ostcount=15568
Yes, AT&T. I remember reading that post by James yes. I think I try to do just as he says. When a Price reaches my FTA I would be quick to jump to BE. I think there was a room to move to that area below....

The thing with this T trade is is just filled me and immediately reveresed. So now it is just in between my SL and FTA. In cases like this (when I stuck in a trade) I will wait for the bar (in this case this weekly) to close so then I will bring my SL behind it (making my possible loss smaller) but if it goes to take me out on this bar, that will be just a loss.

EDIT: That trade really looked as it has some space to move. So I didn't think I am running against immediate resistance. The one you marked - we are kinda taking it out already, no?
  • #72,876
  • Aug 26, 2010 2:33am Aug 26, 2010 2:33am
Quoting Adilius07
Yes, AT&T. I remember reading that post by James yes. I think I try to do just as he says. When a Price reaches my FTA I would be quick to jump to BE. I think there was a room to move to that area below....

The thing with this T trade is is just filled me and immediately reveresed. So now it is just in between my SL and FTA. In cases like this (when I stuck in a trade) I will wait for the bar (in this case this weekly) to close so then I will bring my SL behind it (making my possible loss smaller) but if it goes to take me out on this bar, that...

I would have waited for the break of that previous bar low or FTA and placed my stop loss above those highs in white, above the 26.50.

Did you place your stop loss above the BEOB? If so it still could work out just fine.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,877
  • Aug 26, 2010 2:40am Aug 26, 2010 2:40am
Quoting jarroo
I would have waited for the break of that previous bar low or FTA and placed my stop loss above those highs in white, above the 26.50.

Did you place your stop loss above the BEOB? If so it still could work out just fine.
Yes, if that BEOB would have close below that first level you marked, would have been perfect. That's what I need to learn to see and be more picky.

My SL is just above this BEOB yes. On friday I will move it behind the current bar. Trying to follow my rules, as I see on my charts - this SL moving (behing right eye) will save me some good money in the long run
  • #72,878
  • Aug 26, 2010 2:43am Aug 26, 2010 2:43am
Quoting Adilius07
Yes, if that BEOB would have close below that first level you marked, would have been perfect. That's what I need to learn to see and be more picky.

My SL is just above this BEOB yes. On friday I will move it behind the current bar. Trying to follow my rules, as I see on my charts - this SL moving (behing right eye) will save me some good money in the long run
Sounds great Adilius .. . . your progressing nicely.
Indicators show the past. Price Action "Indicates" the future.
  • #72,879
  • Aug 26, 2010 2:51am Aug 26, 2010 2:51am
I'd like to have the same layout on MT4 on my laptop that I have now on my PC. What do I have to copy from my PC to laptop? I'm guessing indicators and current template would be enough? I can't find the template I created in MT4 folder. There're only the default ones. Can anyone help me here?
  • #72,880
  • Aug 26, 2010 2:54am Aug 26, 2010 2:54am
Quoting jarroo
Sounds great Adilius .. . . your progressing nicely.
Thanks Jarroo!!! I don't know I just began to understand but just a little yet
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