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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

  • #75,181
  • Sep 20, 2010 1:46pm Sep 20, 2010 1:46pm
Quoting raczekfx
don't know.. If he wishes to..

'success' is usually silent and very quiet.

That would be nice . . just a "hello" and a chart or two .. lol


Success can be very quiet .. but it can also be loud and fun .. lol
Indicators show the past. Price Action "Indicates" the future.
  • #75,182
  • Sep 20, 2010 1:48pm Sep 20, 2010 1:48pm
Quoting mbqb11
LOL gonna need a lot of on screen makeup

You already have the pilot 1st season in the can, Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #75,183
  • Sep 20, 2010 1:48pm Sep 20, 2010 1:48pm
Quoting supremeChaos
wow, Kruger National Park.
u live near that place?
is that cool or what?
Hey, sorry about only getting back to you now. Yp I live a few houre away. Once again had an amazing weekend!
Thank you j16!
  • #75,184
  • Sep 20, 2010 1:51pm Sep 20, 2010 1:51pm
Quoting jarroo
Very nice , Dan . . . . .that 1.6200 is tough Resistance .. . the next one will go to the Moon.
I don't need em to go to the moon....

Quoting Dan Gilbert
Both the USDCAD BUOB off dbl bottom/last years low price and the GBPCHF bearish pin off the 1.6 look fantastic to me.
feel like a genius lately....

played the GBPCHF on a 38.2 retracement entry and 38.2 extension exit....

USDCAD I opted to wait for the break. I will cancel at NY close today if price hasn't broken the signal bar yet.
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Many choose unhappiness over uncertainty.
  • #75,185
  • Sep 20, 2010 1:55pm Sep 20, 2010 1:55pm
Quoting Dan Gilbert
I don't need em to go to the moon....



feel like a genius lately....

played the GBPCHF on a 38.2 retracement entry and 38.2 extension exit....

USDCAD I opted to wait for the break. I will cancel at NY close today if price hasn't broken the signal bar yet.
Well said Dan.

Are you say that the previous Support, at the 1.5850ish on the Gbp/Chf, never came into play?

Quoting jarroo
Very understandable of the challenges in this setup.

But wow . .when the line is clear of the Support (in blue) turning into Resistance (in green) its fun to see where this big headed bearish PB retraced to, 1.5850. There is no doubt that the 1.6000 also played its role.
Indicators show the past. Price Action "Indicates" the future.
  • #75,186
  • Edited 2:26pm Sep 20, 2010 2:07pm | Edited 2:26pm
Never say never but I am with jar on this....due to correlation with Nasdaq and s&p eminis which seem to be leading the dow futs.
I would love to be proven wrong though...

upto 11k anyone?

Quoting jarroo
Nice . .proven Resistance. You don't foresee it turning over to prove Support . . say at the 10550?

I doesn't matter . . it should provide a nice reaction to at least cover your risk and see if she runs.

Just my take.
  • #75,187
  • Sep 20, 2010 2:18pm Sep 20, 2010 2:18pm
Quoting ppfx
Yeah I love when this guy posts his charts. Hope one day i will learn to touch trade like he does
PPZ levels tells a big story of the behavior of Support and Resistance.
Much like when strong Support is broken it will act as strong Resistance. . .most of the time. Add some more confluences to this level and your odds improve. . .do they work all the time? . .no. But often they allow for enough reaction to cover your risk.

Take the Gbp/Cad for example . .

The 1.6200 was a proven Resistance level . .by "proven" I mean it acted as Resistance many times and Price fell from it hard, meaning a long way down. Also like the purple check mark, where Price acted as strong Support, meaning Price reacted to the 1.6200 level hard, a long way up.


Once we have this established, we now look
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Indicators show the past. Price Action "Indicates" the future.
  • #75,188
  • Sep 20, 2010 2:34pm Sep 20, 2010 2:34pm
Quoting jarroo
Well said Dan.

Are you say that the previous Support, at the 1.5850ish on the Gbp/Chf, never came into play?
well actually that terminal shot was the wrong picture... I meant to post the terminal from the trade I placed last night, but I posted the G/CHF trade I took last week instead...


but the entry was to the pip, only draw down experienced was the spread.
Many choose unhappiness over uncertainty.
  • #75,189
  • Sep 20, 2010 2:37pm Sep 20, 2010 2:37pm
Quoting vlazaf
Never say never but I am with jar on this....due to correlation with Nasdaq and s&p eminis which seem to be leading the dow futs.
I would love to be proven wrong though...

upto 11k anyone?

perhaps... that chart looks like it's rolling over to me.... I have said it a few times before.

Many companies are hanging onto a lot of cash these days, so I think the fear of a dbl dip is really subsiding at this point...

From a chart perspective, it looks like a big drop lower would be imminent, but from a value perspective, not so much....
Many choose unhappiness over uncertainty.
  • #75,190
  • Sep 20, 2010 2:48pm Sep 20, 2010 2:48pm
Quoting raczekfx
I'm sending you another present (actually only a semi present - without commentaries )

Use it, abuse it.... DON"T ... lose it...
Speaking of futures, i find this setup very interesting

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  • #75,191
  • Sep 20, 2010 2:52pm Sep 20, 2010 2:52pm
Quoting jarroo
PPZ levels tells a big story of the behavior of Support and Resistance.
Much like when strong Support is broken it will act as strong Resistance. . .most of the time. Add some more confluences to this level and your odds improve. . .do they work all the time? . .no. But often they allow for enough reaction to cover your risk.

Take the Gbp/Cad for example . .

The 1.6200 was a proven Resistance level . .by "proven" I mean it acted as Resistance many times and Price fell from it hard, meaning a long way down. Also like the purple check mark,...
Yeah its just that i tried, and like you said sometimes it works sometimes it doesnt. I just want to be a little more sure when entering into a trade. I know that i have to learn to walk first before trying to run So now im trying to learn to 'walk' as best as possible and then i'd try to run.
  • #75,192
  • Sep 20, 2010 3:00pm Sep 20, 2010 3:00pm
any idea about this pin?
fta very near. too near?
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meine augen sind die sterne
  • #75,193
  • Sep 20, 2010 3:15pm Sep 20, 2010 3:15pm
Quoting jarroo
Once we have this established, we now look
Quoting ppfx
Yeah its just that i tried, and like you said sometimes it works sometimes it doesnt. I just want to be a little more sure when entering into a trade. I know that i have to learn to walk first before trying to run So now im trying to learn to 'walk' as best as possible and then i'd try to run.

Sorry about that ppfx . .I blinked out there for a minute.


Just to continue .. now look for more confluences at this level to take a touch trade or see PA at this level. Now the touch trade doesn't have to be a single line but its an area or zone (where have we heard that before) where you give it 20 or 30 pips to go in your favor. If it gets stoppped out . .so what . . you learn from it . .The Rac-man is good at it , he's been doing it for a long while.

Walking is good . .I'm showing you the right path before you run . . . so you can make a path of your own . .
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Indicators show the past. Price Action "Indicates" the future.
  • #75,194
  • Sep 20, 2010 3:20pm Sep 20, 2010 3:20pm
Quoting Dan Gilbert
well actually that terminal shot was the wrong picture... I meant to post the terminal from the trade I placed last night, but I posted the G/CHF trade I took last week instead...


but the entry was to the pip, only draw down experienced was the spread.

I love draw downs like that . . .KaBoom.
Indicators show the past. Price Action "Indicates" the future.
  • #75,195
  • Edited 11:52pm Sep 20, 2010 3:27pm | Edited 11:52pm
Quoting vlazaf
Never say never but I am with jar on this....due to correlation with Nasdaq and s&p eminis which seem to be leading the dow futs.
I would love to be proven wrong though...

upto 11k anyone?
Very possible . .I would like to see those Resistance levels turn into strong Support along the way.
Indicators show the past. Price Action "Indicates" the future.
  • #75,196
  • Sep 20, 2010 3:32pm Sep 20, 2010 3:32pm
Quoting jarroo
You already have the pilot 1st season in the can, Mike.

It would be on the James16 network, of course.
Indicators show the past. Price Action "Indicates" the future.
  • #75,197
  • Edited 6:42pm Sep 20, 2010 6:30pm | Edited 6:42pm
Morning Jarroo.



Now, I get it, Jarroo is always trading the situation, rather than the PA bar!

Way to Go, for sure.
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  • #75,198
  • Sep 20, 2010 7:15pm Sep 20, 2010 7:15pm
Yes, it's all about location, location and well... location.

When you see a PA setup, your first reaction should be, so what?

Scott

Quoting Pinbar
Morning Jarroo.



Now, I get it, Jarroo is always trading the situation, rather than the PA bar!

Way to Go, for sure.
  • #75,199
  • Sep 20, 2010 7:21pm Sep 20, 2010 7:21pm
Quoting phpscott
Yes, it's all about location, location and well... location.

When you see a PA setup, your first reaction should be, so what?

Scott

Thanks Scott, yes...Great way of thinking.

Jarroo is looking into the situation like a detective and deducing what the real deal is.

I can just hear him, "Elementary, my dear Watson".
  • #75,200
  • Sep 20, 2010 7:40pm Sep 20, 2010 7:40pm
... Add me to the GBP/USD 1.55 list of detectives. If a good PA setup occurs there, I will be placing a buy stop order. I skipped on the bearish PB because I refuse to short this pair unless the 1.55 level breaks down.

Scott

Quoting Pinbar
Thanks Scott, yes...Great way of thinking.

Jarroo is looking into the situation like a detective and deducing what the real deal is.

I can just hear him, "Elementary, my dear Watson".
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