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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

  • #75,721
  • Sep 27, 2010 4:54pm Sep 27, 2010 4:54pm
Quoting mbqb11
have fun bud!

It was a great time . . .big sky country up there . .

. .I think I need a vacation from my vacation . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,722
  • Sep 27, 2010 4:57pm Sep 27, 2010 4:57pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting jarroo

A break of either side has Stop Loss protection . .mainly from the .8500.
Jarroo, sorry, can you explain what you meant above? Thanks.
  • #75,723
  • Sep 27, 2010 4:59pm Sep 27, 2010 4:59pm
FANTASTIC!!!!


Quoting jarroo
Heading Up North (that's Up State to you Mike . .lol) for my anual late season golf outing ..

http://www.treetops.com/

see ya Sunday night.


Jim
  • #75,724
  • Sep 27, 2010 5:01pm Sep 27, 2010 5:01pm
Quoting jarroo
A+ setups, like this 2 Day PB on the Eur/Gbp : at a swing High, off a BRN PPZ level .8500, tells alot of info even when they don't break. Good thing we wait for the break.

Since it didn't break, it doesn't qualify as a PB. But what it does tell me is that the momentum to the downside is lost and we have potential for more upside movement.

Now we have a Triple Inside Bar on the Daily or a Dale's Double Inside Bar on the 2 Day time frame all at the .8500 BRN PPZ level . . .somebody alert Dan Gilbert.

A break of either side has Stop Loss protection...
Hey Jarroo,
May I share my view on this pair with you. I think we might see a break downward and that price will revisit the bottom of the weekly channel for the third time. Also notice that price is hitting on the 365 EMA, 50% fib (not shown) which both might act as strong resistance together with the channel-resistance. In that case the 2D-PB could trigger.

May the force be with you.
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Pipcrawler
  • #75,725
  • Sep 27, 2010 5:07pm Sep 27, 2010 5:07pm
Quoting jdl
Jarroo, sorry, can you explain what you meant above? Thanks.

This straddle type Triple IB at the .8500 PPZ can be played if Price breaks on either side.

A break to the upside (in blue) and a SL below the IB (under the .8500)we have the .8500 and previous bar Highs to protect our SL.

A break to downside (in red) we have the .8500 and previous bar Lows (also the 150 ema) to protect our SL.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,726
  • Sep 27, 2010 5:11pm Sep 27, 2010 5:11pm
Quoting james16
FANTASTIC!!!!
Indicators show the past. Price Action "Indicates" the future.
  • #75,727
  • Sep 27, 2010 5:19pm Sep 27, 2010 5:19pm
Quoting xmzhang
Hey Jarroo,
May I share my view on this pair with you. I think we might see a break downward and that price will revisit the bottom of the weekly channel for the third time. Also notice that price is hitting on the 365 EMA, 50% fib (not shown) which both might act as strong resistance together with the channel-resistance. In that case the 2D-PB could trigger.

May the force be with you.

There's a lot of "forces" working on either side of this potential setup.

Price hasn't stayed around the .8500 in the past . . Price may end up staying and consolidating now at the .8500.

The .8600 (50% ret.) is a definite target to the upside as the .8400 is to the downside.
Indicators show the past. Price Action "Indicates" the future.
  • #75,728
  • Sep 27, 2010 5:22pm Sep 27, 2010 5:22pm
Much clearer
D
  • #75,729
  • Sep 27, 2010 6:16pm Sep 27, 2010 6:16pm
it's a buob encompassing 5 previous bars
D
  • #75,730
  • Sep 27, 2010 6:24pm Sep 27, 2010 6:24pm
i post these from time to time to show you new folks that your dream is possible and give you some confidence.

this guy graciously allowed his username to be included.


Hi Jim,
You may not remember me... It's Bob8662. I've been part of the group for about five years. When I first started with you back at Forex Factory before the PF and website I wrote you and said I had a dream of one day being free and trading full time. Well this September that dream became a reality. I've paid off all my debt and have begun to trade full time. I owe a lot to you and the senior members of the James16 group. Years of late nights and weekends studying this stuff but it's finally paid off big time. A master's degree and great career working with kids but I never had time for my own family. Well, now I have that time. I'm almost 50 years old but I'm finally free. Free to be with my family and take care of my elderly mother. I cannot thank you enough for all you have done to help me turn into a professional trader. Many of your "ramblings" as you would call them about integrity and wanting to see others succeed gave me the much needed hope and security to feel I could succeed in currency trading. Your email today just reminded me that the same trade you were talking about is a trade I took as well and I just felt I should take a moment and write you and let you know it's working for me. Attached is a screenshot of that EUR trade from my account. My trade system uses a variation of your base system with support and resistance and I have very strict entry and exit rules. As you can see I am $1600 profit on this trade so far. I typically trade 1 or 2 standard lots. This trade was with 1 standard lot. I hope one day that I will be able to meet you face to face so I can shake your hand and tell you how much I appreciate what you have done for me!
Sincerely,
Bob8662




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  • #75,731
  • Sep 27, 2010 6:35pm Sep 27, 2010 6:35pm
Quoting james16
charts

Great charts Jim as always.


I agree . . .touch trades do take time to master. One way to start that process is following the simple rules through this great thread.

PA confirmation at strong PPZ levels is at the heart of this process. What are PPZ levels? They are proven levels where Price reacts to Support then turns into Resistance (and vice versa). It is why PPZ levels or Location is a key part of a great Price Action setup.



PA confirmation can still be a great confirmation even with a touch trade.
Notice BUOB on the 4 hour time frame (IBFX) off the 1.3300 on the Euro.

Entering a touch trade at the 1.3300, based on your chart of the 1.3300 as previous Resistance, then seeing a BUOB on the 4 hour sure would aid in your decision to stay in the trade and see if she breaks.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,732
  • Sep 27, 2010 7:19pm Sep 27, 2010 7:19pm
Hi Guys,
Anyone traded this Ghous IPB?I think in great location shows up sexi ghous girl(I mean bar) who likes to go down.

Happy trading guys.

FX
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  • #75,733
  • Sep 27, 2010 7:20pm Sep 27, 2010 7:20pm
Quoting Walcott
Just a question like an other.
Hello Walcott,
Sorry i missed your question.
it was sleep time for me when i was replying to questions here last night.
some here use pivots in FX.
1 reason why others dont use it is because pivots can be calculated in several ways. another reason is pivots often line up at S/Rs, PPZs. still another reason is pivots is a 'redundant S/R'.
i have used them before, they work ok. but iremoved them from my charts since last year, to concentrate on going naked (more 'naked' compared to what i did a few years back) & using S/Rs, PPZs.
i might use them again, once my charts get more naked.

if u feel comfortable using it, then go for it!

Quoting mbqb11
...Can you rephrase it maybe. I am having monday brain
...
is there such a thing as a 'monday brain'? hahah
then that's what i had last night.
or more accurately, i get a 'night brain', daily
so people, beware of my posts during the night (9am - 2pm NY Time). hope they made/make sense... hihihihihih
  • #75,734
  • Sep 27, 2010 7:57pm Sep 27, 2010 7:57pm
Quoting james16
i post these from time to time to show you new folks that your dream is possible and give you some confidence.
That is very nice
A little beginner trader since 2006
  • #75,735
  • Sep 27, 2010 8:06pm Sep 27, 2010 8:06pm
Hello everyone,

I am a multi-year lurker here on the james16 site

I have to say that this thread has tremendously impacted my trading over the course of a few years. I have attached a snapshot of a possible trade on gu. You experienced guys and gals....how do you treat this setup? Its a nice pin right at a ppz on top of an IB setup, but the small daily candle that forms the IB is a sunday evening candle so it only includes a few hours. Do you guys count this as a valid IB even though its not a true "day's worth" of action?

This thread is AWESOME!! Jaroo, Mike, James and everyone else....thank you
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  • #75,736
  • Sep 27, 2010 8:45pm Sep 27, 2010 8:45pm
wow now that made me smile.

welcome officially stealth.

jim

Quoting stealth
Hello everyone,

I am a multi-year lurker here on the james16 site

I have to say that this thread has tremendously impacted my trading over the course of a few years. I have attached a snapshot of a possible trade on gu. You experienced guys and gals....how do you treat this setup? Its a nice pin right at a ppz on top of an IB setup, but the small daily candle that forms the IB is a sunday evening candle so it only includes a few hours. Do you guys count this as a valid IB even though its not a true "day's worth" of action?

This thread...
  • #75,737
  • Sep 27, 2010 8:45pm Sep 27, 2010 8:45pm
chart
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  • #75,738
  • Sep 27, 2010 8:46pm Sep 27, 2010 8:46pm
Looks like a many pairs are spooling up for a move.
  • #75,739
  • Sep 27, 2010 8:51pm Sep 27, 2010 8:51pm
Quoting stealth
Hello everyone,

I am a multi-year lurker here on the james16 site

I have to say that this thread has tremendously impacted my trading over the course of a few years....
Welcome Stealth,

Most of us ignore that small sunday bar completely others include it visually with the friday bar. I ignore it personally

Hope to see you post more
Mike
  • #75,740
  • Edited 9:39pm Sep 27, 2010 9:16pm | Edited 9:39pm
Quoting Pinbar
Looks like EUR/GBP may have a situation starting to unfold.

2 day IBs and sitting on a RN.
Pinbar,

May I ask if you have the BRN indicator and the time indicator found below readily available? I am having some difficulty locating them.

Sorry for my tech deficiency, hope you don't mind.

Also, I am assuming, since the current bar is a bearish bar, you will wait till the daily bar breaks the bearish bar low on 9/23? Then let it ride down to the FTA of ? not sure where.

Thank you in advance,
KK
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