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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

  • #73,661
  • Sep 2, 2010 1:56am Sep 2, 2010 1:56am
Quoting Pinbar
It is taking time Jarroo, but little by little it is falling into place, thanks to the Great Jarroooooooooooooooooooooooooooooooooo!

Too many o's there Pb . .lol


I have been checking out your charts, your progressing very well, Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #73,662
  • Sep 2, 2010 2:02am Sep 2, 2010 2:02am
Quoting jarroo
Too many o's there Pb . .lol


I have been checking out your charts, your progressing very well, Pb.

Thanks Jarro.

I just took the EU live on the M30 close of the BUOB.

Let's see what the market shows me.
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  • #73,663
  • Sep 2, 2010 2:04am Sep 2, 2010 2:04am
Quoting Pinbar
Thanks Jarro.

I just took the EU live on the M30 close of the BUOB.

Let's see what the market shows me.

I thought you were sticking to the higher time frames?

30 Minute chart . .wow
Indicators show the past. Price Action "Indicates" the future.
  • #73,664
  • Sep 2, 2010 2:07am Sep 2, 2010 2:07am
Quoting jarroo
I thought you were sticking to the higher time frames?

30 Minute chart . .wow



Yes, I was just creamed.

Well, another one for the journal with a BIG STAY OFF THE LOWER TF.
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  • #73,665
  • Sep 2, 2010 2:11am Sep 2, 2010 2:11am
Quoting Pinbar
Yes, I was just creamed.

Well, another one for the journal with a BIG STAY OFF THE LOWER TF.
Did BUOB even break? Where were the Higher time frame PPZ levels inrelation to that 30M BUOB?, Was it at a Swing Low . . ?, etc

Just trying to help Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #73,666
  • Sep 2, 2010 2:27am Sep 2, 2010 2:27am
Quoting jarroo
Did BUOB even break? Where were the Higher time frame PPZ levels inrelation to that 30M BUOB?, Was it at a Swing Low . . ?, etc

Just trying to help Pb.

Thanks Jarroo

The main problem I think is that I jumped the gun at the close of the M30 BUOB, it never actually broke.

The H4 shows a PPZ around 1.2832 10 pips above the BUOB.

Probably due to frustration and not being able to find decent setups.


I am getting good at losing? I mean, I seem to handle it well, TOO well perhaps.
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  • #73,667
  • Sep 2, 2010 2:36am Sep 2, 2010 2:36am
Quoting Pinbar
Thanks Jarroo

The main problem I think is that I jumped the gun at the close of the M30 BUOB, it never actually broke.

The H4 shows a PPZ around 1.2832 10 pips above the BUOB.

Probably due to frustration and not being able to find decent setups.

Having Patience for a setup to develop is tough overcome, . . remember, if Patience was easy, it wouldn't be a virtue . . I've been there, Pb.

Patience for the right setup can be overcome. It can be practised, I have found, and you can get good at it. Just also remember that Patience Pays . .its a good incentive to practise it.

It all part of the journey, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #73,668
  • Sep 2, 2010 2:43am Sep 2, 2010 2:43am
Hi all

one qn, i did the position size calculation and it says to a lot size of 0.087.

how does the lot size equate to the volume size when placing an order?

cheers
  • #73,669
  • Sep 2, 2010 2:50am Sep 2, 2010 2:50am
Quoting geomink
Long USD/CHF
Really?
When you have to shoot, shoot. Dont talk.
  • #73,670
  • Sep 2, 2010 2:54am Sep 2, 2010 2:54am
Hey Pinbar,
I trade PA intraday on very low TFs and was watching the same thing. The thing with M30 is that you would really want to at least have a glace at M5 to see what's going on. I know that low TFs are not suggested in this thread and it's best to use high timeframes for PPZ, targets and all that sort of stuff, but what I saw was a pennant on a 5 minute chart.
If you don't risk, you don't ever have to lose.
  • #73,671
  • Sep 2, 2010 2:57am Sep 2, 2010 2:57am
Quoting Pinbar
Thanks Jarroo
The main problem I think is that I jumped the gun at the close of the M30 BUOB, it never actually broke.Probably due to frustration and not being able to find decent setups.
....
just be careful next time
if current eurusd upmove has strength, i expect 1.2750 ppz to hold price.

i get this feeling that we may revisit August2010 highs (&possibly beyond).... i'll study the chart.
perhaps, this US NFP (non-farm payrolls) week will show us the way.

btw, there was about a 100pip downmove on gbpchf earlier (i havent checked how other pairs did). i took a small chunk on it & still got some positions on (i was actually long, but watching some naruto videos, SL's got hit, & reversed to shorts slightly belatedly; the downmove was pretty quick, i wasnt fast enough to place my intended sell stops, LOL).
on H1/H4 (much clearer on lower Timeframes), there was a PPZ-multiple bar low break around 1.5680 (red line is 1.5680 area)
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  • #73,672
  • Sep 2, 2010 3:06am Sep 2, 2010 3:06am
Quoting antgal23
Hi all
one qn, i did the position size calculation and it says to a lot size of 0.087.
how does the lot size equate to the volume size when placing an order?
..
im not sure i understand your Q clearly.
are u trying to ask how much, order-wise, u are gonna place given that calculation?
i believe the answer is 0.08 lots or u can round it off to 0.09 lots.
  • #73,673
  • Sep 2, 2010 3:07am Sep 2, 2010 3:07am
Quoting jarroo
Having Patience for a setup to develop is tough overcome, . . remember, if Patience was easy, it wouldn't be a virtue . . I've been there, Pb.

Patience for the right setup can be overcome. It can be practised, I have found, and you can get good at it. Just also remember that Patience Pays . .its a good incentive to practise it.

It all part of the journey, my friend.

Yes, that is probably the hardest part.

Waiting, I wait and wait, then there is nothing to take so I wait some more.
A day turns into a week without taking a trade and then a month.

I hear what you are saying though Jarroo.


Appreciate the advice.
  • #73,674
  • Sep 2, 2010 3:07am Sep 2, 2010 3:07am
Quoting bug
Hey Pinbar,
I trade PA intraday on very low TFs and was watching the same thing. The thing with M30 is that you would really want to at least have a glace at M5 to see what's going on. I know that low TFs are not suggested in this thread and it's best to use high timeframes for PPZ, targets and all that sort of stuff, but what I saw was a pennant on a 5 minute chart.

Thanks for the info BUG.

I think I had better stick to the higher TF for now.
  • #73,675
  • Sep 2, 2010 3:09am Sep 2, 2010 3:09am
Quoting supremeChaos
just be careful next time
if current eurusd upmove has strength, i expect 1.2750 ppz to hold price.

i get this feeling that we may revisit August2010 highs (&possibly beyond).... i'll study the chart.
perhaps, this US NFP (non-farm payrolls) week will show us the way.

btw, there was about a 100pip downmove on gbpchf earlier (i havent checked how other pairs did). i took a small...


yes, I have to learn from these mistakes and not repeat them.

Thanks for the advice.
  • #73,676
  • Sep 2, 2010 3:12am Sep 2, 2010 3:12am
Quoting Ace284
Sorry for the wait, I kinda took a nap

http://www.youtube.com/watch?v=oSHSCwiNBbI

Enjoy!

P.S I don't count pips but the reason I left it in the title was to see how easily people are attracted by the pip count.

Great video Ace . .. I like your way of thinking.


Just to add some other confluences . . not to say you didn't get the important ones or to take away from your great analysis, Ace.

Weekly Highs/Lows (and Monthly Highs/ Lows) can be great levels of Support or Resistance. . . .probably because many traders watch them.

Price broke through the Weekly Low and the 1.6000 last week, good chance that this area will now act as Resistance. The 4 hour PB (my other trade on this pair) was a good indication of this Resistance.

There was a Fib 61.8 also at that level from its recent High and Low, but I see your not a Fib guy, nothing wrong with that.

My entry was at the 1.6000 on the Hourly when Price broke then retraced (Hourly chart) with a 40 pip SL which is pretty standard for me with this pair. A PB like last week's would have been much better, on the 4 hour or the Hourly, I'm sure you would aggree. I took half off at the daily Lows at 1. 5850 and 2nd half off at the previous bar Low of the BEOB at 1.5600.

Looking to if she retraces to the 1.5850 to retest previous Support.


Eur/Chf was easier entry at the break of that small PB.

Great trade Ace!
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Indicators show the past. Price Action "Indicates" the future.
  • #73,677
  • Sep 2, 2010 3:13am Sep 2, 2010 3:13am
Quoting Pinbar
Thanks for the info BUG.

I think I had better stick to the higher TF for now.
That's what I was getting at.
Taking a trade on an unfamiliar TF is a real killer. Been there, done that, didn't get the t-shirt though.
If you don't risk, you don't ever have to lose.
  • #73,678
  • Sep 2, 2010 3:26am Sep 2, 2010 3:26am
Quoting bug
That's what I was getting at.
Taking a trade on an unfamiliar TF is a real killer. Been there, done that, didn't get the t-shirt though.

Didn't get the T shirt. LoL
  • #73,679
  • Sep 2, 2010 3:31am Sep 2, 2010 3:31am
Quoting Ace284
Stopped out here for a -1% loss. Winning and losing; part of the game.

A J16er would say that your IB hit its targets, previous bars highs, nice Space . . . just a quick thought Ace.
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Indicators show the past. Price Action "Indicates" the future.
  • #73,680
  • Sep 2, 2010 3:37am Sep 2, 2010 3:37am
Quoting jarroo
....
My entry was at the 1.6000 on the Hourly....
Looking to if she retraces to the 1.5850 to retest previous Support.
...
wow, nice trade
i think we'll revisit 1.5850 only if current downmove is negated convincingly. but if that happens anytime soon, it maybe another for u

Quoting jarroo
A J16er would say that your IB hit its targets.....
just noticed that chart... i agree
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