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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

  • #73,281
  • Aug 30, 2010 5:10am Aug 30, 2010 5:10am
Someone else cached this baby on eurjpy?
Look how deeply it tested that consolidation box and closed as a beob
.
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  • #73,282
  • Aug 30, 2010 5:16am Aug 30, 2010 5:16am
nice setups, easy trades
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  • #73,283
  • Aug 30, 2010 5:20am Aug 30, 2010 5:20am
Hi everyone, I could not stay away! its Bank holiday in the UK... but thought i would post a trade i am eying up... its a retrace to a minor ppz more aggressive trade...
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  • #73,284
  • Aug 30, 2010 5:25am Aug 30, 2010 5:25am
check your PPZ lines..
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  • #73,285
  • Aug 30, 2010 5:32am Aug 30, 2010 5:32am
Sorry for the newbie question but what are PPZ lines?
The Thread is so big i donīt know were to start :-D
  • #73,286
  • Aug 30, 2010 5:35am Aug 30, 2010 5:35am
price pivot lines, like the ones i posted before
  • #73,287
  • Aug 30, 2010 5:36am Aug 30, 2010 5:36am
Quoting john225
Sorry for the newbie question but what are PPZ lines?
The Thread is so big i donīt know were to start :-D
PPZ is bar lo meets bar hi, or support becomes resistance. The more you see the stronger the level.

The best post from where to start is the post #1
  • #73,288
  • Aug 30, 2010 5:44am Aug 30, 2010 5:44am
Hi everyone,

glad knowing there is such a good community here. hmm.. having difficulties to understand the terms like FTA,PA etc though.. tried to search it in the attachments but failed. anyone can shed some light? thanks!
  • #73,289
  • Aug 30, 2010 6:01am Aug 30, 2010 6:01am
Quoting lokgotkent
Hi everyone,

glad knowing there is such a good community here. hmm.. having difficulties to understand the terms like FTA,PA etc though.. tried to search it in the attachments but failed. anyone can shed some light? thanks!
there you go
http://www.forexfactory.com/showpost...ostcount=71382
  • #73,290
  • Aug 30, 2010 6:04am Aug 30, 2010 6:04am
Quoting lokgotkent
Hi everyone,

glad knowing there is such a good community here. hmm.. having difficulties to understand the terms like FTA,PA etc though.. tried to search it in the attachments but failed. anyone can shed some light? thanks!

Hey lokgotkent and welcome

Maybe this post by Mike will help you with some of the abbreviations,
There are many more, but it should be enough to get you started

Jonny


Quoting mbqb11
BRN = Big Round number....
BRN = Big Round number. It is soemthing I have sort of termed in my own way of the round numbers every 500 pips. instead of regular round numbers.

As for the rest of the abbreviations here is off the top of my head.

PPZ = price pivot zone
BEOB = bearish outside bar
BUOB = bullish outisde bar
pin = pinbar
DBLHC = double low higher close
DBHLC = double high lower close
TBH = two bar high
TBL = two bar low
IB = inside bar
I4b = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trendline
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = countertrend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back
  • #73,291
  • Aug 30, 2010 6:07am Aug 30, 2010 6:07am
There was alot of discussion about the wkly's PB's...it appears the Japan news monetary policies had and effect...also check out these 8H PB's on the JPY pairs...not all charts posted ...thought it was interesting...for what it's worth


Question for Mike who I know watches different feeds or anyone else who watches different feeds with different close times....Do you find that there are more and/or more reliable setups on the eastern time zone feeds?

For example the 4H time frame for eastern close better than feed close times?

I have been meaning to ask this for awhile.

Thanks,

Bill
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  • #73,292
  • Aug 30, 2010 6:21am Aug 30, 2010 6:21am
Quoting roundrock
hi ace,

i am following audcad chart. it bumped into prev resistence and going down. we need a bearish PA to enter short. todays daily candle is looking very bearish. do you wait for the bar to close before entry ? if we wait then we may have a very big bearish candle and might have run put of gas. how do you handle the entry ? thanks a lot
Well I see it as a daily setup but I won't trade it exclusively on the daily chart. I droped down a timeframe to the 4 hour and entered on the break of the break of the first bearish bar. This is generally how I trade ranges.
Stoploss above the high and target near the low of the range.

Cheers
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  • #73,293
  • Aug 30, 2010 6:53am Aug 30, 2010 6:53am
Quoting cprao
Mike , what do you mean stronger close ?

should the formation of the pin at the end of the bar, leaving a little to no wic at the top ?

or/and
Should the close of the bar be above the open ? making it green pin instead of red pin ?

On FXDD, the pin was formed almost at the end of the bar but the the close was NOT above the open.
Hey C

I am just picky about my bars where in this case I would have watned a longer nose, and a close that was higher then the open. It gives a much stronger look that way. Price ran up hard on the yen pairs after the gaps and fell very hard now. Will be interesting to see if these weekly bars snap us back higher now. Markets are still extremely thin and the flip floppy theme is in full effect

Best
Mike
  • #73,294
  • Aug 30, 2010 6:56am Aug 30, 2010 6:56am
Quoting supremeChaos
i believe ongoing full recovery.
Many thanks,Sir.



i think, with 'stronger close', he meant he wanted the close above the open (plus bigger nose)
Thanks SC, back in full force. Hope you are feeling better sir
  • #73,295
  • Aug 30, 2010 6:57am Aug 30, 2010 6:57am
Quoting Imphilomath
Hi Mike,

Scenario you have mentioned looks like will work out much better. I did not wait for retracement and entered at the break of the pin bar ( thinking that is more conservative entry than retracement ) and now I see there is an inverted pin.
May be not very good inverted pin ( compared to bullish weekly pin ) but still a rejection of the higher price. How do you generally play these? Especially when there are 2 pins following each other ( with different biases)? I guess bullish pin bar is way more stronger than the inverted pin so I am still...
Hey Imp

Price broke much higher, that I wouldn't think taking a retrace now makes the most sense. I think it's more favorable to get the retrace right away, as now this went on towards the first trouble areas before retracing. It still could pick up from a retracement and go higher, but I wouldn't want to mess with them now.

Best
Mike
  • #73,296
  • Aug 30, 2010 7:07am Aug 30, 2010 7:07am
[quote=supremeChaos;3986264]i believe ongoing full recovery.
.quote]

Was wondering what happened to ya...thought you were off climbing Mt. Everest...but you were climbing another mountain...wishing you well and a speedy recovery.

Bill
  • #73,297
  • Aug 30, 2010 7:09am Aug 30, 2010 7:09am
Quoting Bollocks
nice setups, easy trades
nice Job B, these came back hard to fill there gaps + some
  • #73,298
  • Aug 30, 2010 7:26am Aug 30, 2010 7:26am
Quoting Pinbar
I used to plot all the Monthly & weekly PZ on Saturday but, I am starting to think this is not so good. I am experimenting with finding PA, then plotting the PPZ, FTA, SL and target areas after the fact.

Look at jarroo and mike's charts, I think they may not have all these lines all over the place.
Hey PB,
I've asked some posts ago a question to one of the senior members about drawing these PPZ's after I saw a PA-pattern and not before a PA would pop up. His reply was this method would be vunerable to curve fitting. That is, identifying the PPZ would be influenced by the PA. I don't know if this would be the case, I think the only way to find out is to demo trade this mehod. My preference would be a step by step method, I start with a clean chart and when I see a PA-pattern I firstly determine the FTA, because this is the most important level at the moment I see a PA. When price gets through the FTA then I start, after managing my trade, to determine the next obstacle that price has to master in order to proceed further etc....

May the force be with you.
Pipcrawler
  • #73,299
  • Aug 30, 2010 7:26am Aug 30, 2010 7:26am
For those interested in stocks and are very comfortable with the MT4 trading platform, I just found the GCI Financial Demo http://www.gcitrading.com/cfd-software.htm

They list literally hundreds of US and European Stocks as well as commodities including Treasuries

They even have Lehman Brothers???
I just noticed there was a nice BEOB right before the stock went to zero

Jonny
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  • #73,300
  • Aug 30, 2010 7:30am Aug 30, 2010 7:30am
Quoting Jonnyislost
For those interested in stocks and are very comfortable with the MT4 trading platform, I just found the GCI Financial Demo http://www.gcitrading.com/cfd-software.htm

They list literally hundreds of US and European Stocks as well as commodities including Treasuries

They even have Lehman Brothers???
I just noticed there was a nice BEOB right before the stock went to zero

Jonny
Oh I guess I should let you all know, the only BRN I ignore is Zero


*cricket sounds*

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