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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

  • #73,001
  • Aug 27, 2010 2:02am Aug 27, 2010 2:02am
Quoting Adilius07
Another thought. Could that be so, that so many people in the world will read this thread so the method would loose its edge, PB's and rest would just stop working some day???????

OMG! I may be not a very good person then, I am really worried... you know

Hi Adilius,

In my view these setups will remain forever usefull. You will always have newbies not understanding the patterns correctly and not realising that it's not about the pattern so much but about where the pattern occurs (Someone said it earlier, can't remember who). These newbies will lose the majority of their positions and we, who understand the patterns and where to look for them will win the majority, so basically I believe as long as you have losers in the market trading these patterns wrongly they'll continue to be effective because there will be balance between the losers and winners. This is only my view and I can be wrong.. I know this sounds a bit stupid but that's all I say to myself when thinking about setups stopping to work. And at the end of the day we shouldn't worry about that which we cannot change..

Regards,
Thank you j16!
  • #73,002
  • Aug 27, 2010 2:04am Aug 27, 2010 2:04am
Great explanation Jarroo.

Still keeping up with the thread in this oven of a country.
  • #73,003
  • Aug 27, 2010 2:08am Aug 27, 2010 2:08am
Quoting Pinbar
Great explanation Jarroo.

Still keeping up with the thread in this oven of a country.
Stay coool Pb . . .is summer almost over . .over there?


I guess it is almost over.. http://gojapan.about.com/cs/weather/...ateinjapan.htm
Indicators show the past. Price Action "Indicates" the future.
  • #73,004
  • Aug 27, 2010 2:12am Aug 27, 2010 2:12am
Quoting anderou
Hi
In my view these setups will remain forever usefull. You will always have newbies not understanding the patterns correctly and not realising that it's not about the pattern so much but about where the pattern occurs (Someone said it earlier, can't remember who). These newbies will lose the majority of their positions
Newbie traders with $200 Oanda accounts arent moving fx markets. Just sayin.

Quoting anderou
And at the end of the day we shouldn't worry about that which we cannot change..
Exactly. Well said.
When you have to shoot, shoot. Dont talk.
  • #73,005
  • Aug 27, 2010 2:19am Aug 27, 2010 2:19am
Quoting xmzhang
Hey Jarroo,
Does this mean that for instance if you have a valid lower TF PA setup which would be moving counterwards against another valid higher TF PA setup which has not reach its FTA yet, it would be sensible not to trade the lower TF PA setup unless this lower TF PA setup is moving in the same direction as the higher TF setup ?
Yes . I will look at the Higher time frame for confluences with a lower time frame setup. . higher time frame PA that agrees with the lower time frame PA is one such confluence.
Indicators show the past. Price Action "Indicates" the future.
  • #73,006
  • Aug 27, 2010 2:21am Aug 27, 2010 2:21am
Quoting jarroo
Stay coool Pb . . .is summer almost over . .over there?


I guess it is almost over.. http://gojapan.about.com/cs/weather/...ateinjapan.htm


Normally, we would be on the back end of summer with a few occasional 30C days. This year however, they think these 38C days will continue through September!


EU looks like something is about to pop.
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  • #73,007
  • Aug 27, 2010 2:29am Aug 27, 2010 2:29am
Quoting Pinbar
Normally, we would be on the back end of summer with a few occasional 30C days. This year however, they think these 38C days will continue through September!


EU looks like something is about to pop.

Looks a bit choppy on the 4 hour . . Price has closed below the 1.2730ish PPZ level on the Weekly and Daily. Price has turned from Support to Resistance. This may continue . . we'll let PA show us the way at this level.
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Indicators show the past. Price Action "Indicates" the future.
  • #73,008
  • Edited 3:10am Aug 27, 2010 2:48am | Edited 3:10am
Quoting raczekfx
What are the chances of gchf going to 1.6570 over the next few days?
... or to 1.5670?
Which is better probability?

.

SNB knows...

21_70

Hey Rac-man!!

. . . . . .I like the 1.6570 . .consolidation continues . . if we can show some supportive strength above the 1.5800 or 1.6000 . . I like its odds.

But it more Resistance grows from the recent reaction at the 1.6000 . . . as your chart shows . . look out below.


Good to see you Rac,


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #73,009
  • Aug 27, 2010 2:55am Aug 27, 2010 2:55am
Quoting jarroo
Looks a bit choppy on the 4 hour . . Price has closed below the 1.2730ish PPZ level on the Weekly and Daily. Price has turned from Support to Resistance. This may continue . . we'll let PA show us the way at this level.

Looks like a Head and Shoulders pattern? Re test the neck line and down we go??
  • #73,010
  • Aug 27, 2010 2:56am Aug 27, 2010 2:56am
Quoting jarroo
Looks a bit choppy on the 4 hour . . Price has closed below the 1.2730ish PPZ level on the Weekly and Daily. Price has turned from Support to Resistance. This may continue . . we'll let PA show us the way at this level.

Yeah, a quick look at M30 shows us why.
Price is stuck between the 365 & 150 and about to pop.

Just watching these lower TF though.
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  • #73,011
  • Aug 27, 2010 3:00am Aug 27, 2010 3:00am
Quoting joelcf
Newbie traders with $200 Oanda accounts arent moving fx markets. Just sayin.
Haha, Yip I hear what your saying.. You may be right. I've heard that avafx alone has over 40 000 accounts, add up all the noobs in this business and the monetary value is substantial, but to move the fx market will need billions. Enough on that.

The best advice in this business is to stay in the moment, treat every trade on it's own merits, do the best you can in the moment, get your fx education together, be consistent, know what happens where and why, and get the probabilities on your side, then concentrate on risk and the rewards will come. lastly, forget about everything else which does not help you, or distracts you. Enough babble. Chin up push froward, weekend is in sight.

regards,
Thank you j16!
  • #73,012
  • Aug 27, 2010 3:00am Aug 27, 2010 3:00am
Quoting Chelski
Looks like a Head and Shoulders pattern? Re test the neck line and down we go??

Possibly, especially if the price projection on a HnS is from the head to the neck line.
Indicators show the past. Price Action "Indicates" the future.
  • #73,013
  • Aug 27, 2010 3:05am Aug 27, 2010 3:05am
Quoting Pinbar
Yeah, a quick look at M30 shows us why.
Price is stuck between the 365 & 150 and about to pop.

Just watching these lower TF though.

Like to see the PB forming on the Weekly to close above the 1.2730ish PPZ level. . .this may be a hint to where its going . But we know what weak or small PBs will do.
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Indicators show the past. Price Action "Indicates" the future.
  • #73,014
  • Aug 27, 2010 3:22am Aug 27, 2010 3:22am
Quoting jarroo
Like to see the PB forming on the Weekly to close above the 1.2730ish PPZ level. . .this may be a hint to where its going . But we know what weak or small PBs will do.

There is some confluence at this level. Tail of pin is 50% fib area and we have previous support late 2008 early 2009
  • #73,015
  • Aug 27, 2010 3:23am Aug 27, 2010 3:23am
Quoting Imphilomath
Hi gurus,

I have tried to draw SRs on this pair but not sure if I am correct.In some pairs there are beautiful ranges and PPZs. I felt I could not identify them in this pair. Just wanted to make sure I am doing it correctly. solid lines are majors and dotted line is PPz.


appreciate your comments.
cheers
Quoting mbqb11
Hey Imp

Looks good to me here would be mine for the daily and 4hr(the most obvious ones)
Identifying PPZ level are best done on the higher time frames as Mike has shown on the Daily. Look to the Weekly and even the Monthly to find them. Not only are they easier to find but the PPZ levels are much stronger.
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Indicators show the past. Price Action "Indicates" the future.
  • #73,016
  • Aug 27, 2010 3:28am Aug 27, 2010 3:28am
Quoting Chelski
There is some confluence at this level. Tail of pin is 50% fib area and we have previous support late 2008 early 2009

Yes, the 50% retracement level is an added confluence that adds support to this potential setup.
Indicators show the past. Price Action "Indicates" the future.
  • #73,017
  • Aug 27, 2010 3:31am Aug 27, 2010 3:31am
Quoting jarroo
Yes, the 50% retracement level is an added confluence that adds support to this potential setup.

And now we wait.............
  • #73,018
  • Aug 27, 2010 3:32am Aug 27, 2010 3:32am
Quoting Chelski
And now we wait.............
Yes we do . . . http://www.freeworldgroup.com/games9...biewarfare.htm
Indicators show the past. Price Action "Indicates" the future.
  • #73,019
  • Aug 27, 2010 3:34am Aug 27, 2010 3:34am
Quoting jarroo
Yes we do . . . http://www.freeworldgroup.com/games9...biewarfare.htm
Thanks to you, I got basically no work done this week
When you have to shoot, shoot. Dont talk.
  • #73,020
  • Aug 27, 2010 3:41am Aug 27, 2010 3:41am
Quoting Pinbar
Normally, we would be on the back end of summer with a few occasional 30C days. This year however, they think these 38C days will continue through September!


EU looks like something is about to pop.
PB,
I have nice looking BUOB, good close but unfortunately wrong location. So this is a pass for me.

Cheers
Novice 198
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