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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

  • #76,021
  • Sep 30, 2010 5:04am Sep 30, 2010 5:04am
Quoting anderou
eu trade seeing some worthwhile profits, I guess its time to post a chart hey? I took the trade on a 1hour buob yesterday, I had further motivation as the previous day formed a buob on the daily chart, trade was taken of a round number as well as a flip/ppz level, the yellow lines on the chart is placed on round numbers.. target is 1.3690, just short of the next ppz and next round number. This trade has been stalling longer than what I am used to trading 1hour charts, but as the reason I took the trade has stayed valid I have stuck with it. Not...

Glad it worked out for you.

It is not one I would have taken as the BUOB is at a swing high instead of a swing low.

You might want to tighten your stops with the Monthly pivot just above price and the 1.3700 RN.
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  • #76,022
  • Sep 30, 2010 5:27am Sep 30, 2010 5:27am
Yip I have moved my stop close to b/e. I do not look at conventional pivot points at all, I have taken in consideration the 1.37 level though. Thanks for the heads up PB! Do you find conventional pivot points of any help? I think it overcomplicates, I mean looking at flip points/ppz's, pivot points, and round numbers gives the "bird cage effect" according to my experience lol, but hey, if it works for you...

I have seen you are gaining lots of insight as of late hey? great stuff man!

Edit: my post can be confusing, I do use price pivot zones drawn on price flips and s turning into r, not conventional pivot indicators calculated by closes lows and highs...
Thank you j16!
  • #76,023
  • Sep 30, 2010 5:51am Sep 30, 2010 5:51am
Quoting anderou
Yip I have moved my stop close to b/e. I do not look at conventional pivot points at all, I have taken in consideration the 1.37 level though. Thanks for the heads up PB! Do you find conventional pivot points of any help? I think it overcomplicates, I mean looking at flip points/ppz's, pivot points, and round numbers gives the "bird cage effect" according to my experience lol, but hey, if it works for you...

I have seen you are gaining lots of insight as of late hey? great stuff man!

Edit: my post can be confusing, I do use price pivot zones...

No, I am not talking about floor trader pivots, that is a monthly PPZ level.

I hear you about the Bird cage, I have had a terrible time drawing them but, as I mentioned in an earlier post, today I watched James 16 in a video helping someone who had the same trouble.

Try drawing them on the main flip areas on the weekly, then move to the H4 TF and only draw the main flip areas. It works out really well. You may be pleasantly surprised.
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  • #76,024
  • Sep 30, 2010 6:00am Sep 30, 2010 6:00am
Quoting jarroo
Impressive ppfx . . . nice.
Thanks Jim. The thing is that i have someone who opened my eyes a few days ago. I think you know who am i talking about.... thats right, the one im talking about is YOU

Ive read a lot about touch trading, ive gone through the majority of raczek's posts and i became familiar with his type of trading, but then the other day when you posted those charts it was like a revelation for me. It just hit me. I was like aha:
http://clow.ipsd.org/images/lmc/lmc_.../bulb_idea.gif

I then opened my charts and began looking for some setups and i found them. I look at the first one, and it went in my direction. Surpised i was i saw another one soon on another pair and took it on my demo and i closed it with profit. I was so so happy. All this time i was looking at some 'not so good'/ minor PPZs. But with your post i found out the thing that i have already learned once, only that at that time i wasnt paying so much attention to it. So thanks again Jim for opening my eyes. You maybe think those three posts werent a big deal but they were for me.

About that GU trade. I closed the remaining half. I couldnt wait any more. Guess i must learn a little more about letting the runners run. Cause i see that now is finally going after the BRN 1.6000

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  • #76,025
  • Sep 30, 2010 6:02am Sep 30, 2010 6:02am
Okay thanks for clearing that up. I do have the monthly ppz on the eu, it is just not vissible on the chart I posted. The 3700 area is definately an area of interest and that is also why I am confident that price will test this level. I thought you were talking about conventional pivots. I have been toying with the method of ppz drawing you described, I must say it look very good. thanks again.
Thank you j16!
  • #76,026
  • Sep 30, 2010 6:13am Sep 30, 2010 6:13am
It seems like the NU is going for an another attempt to break the 0.7400, will this time succeed?

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  • #76,027
  • Sep 30, 2010 6:13am Sep 30, 2010 6:13am
Quoting ppfx
T... the other day when you posted those charts it was like a revelation for me. It just hit me.
....You maybe think those three posts werent a big deal but they were for me....
which specific posts were these?
Thanks!
  • #76,028
  • Sep 30, 2010 6:18am Sep 30, 2010 6:18am
Quoting Pinbar
No, I am not talking about floor trader pivots, that is a monthly PPZ level.

I hear you about the Bird cage, I have had a terrible time drawing them but, as I mentioned in an earlier post, today I watched James 16 in a video helping someone who had the same trouble.

Try drawing them on the main flip areas on the weekly, then move to the H4 TF and only draw the main flip areas. It works out really well. You may be pleasantly surprised.
Hi, so you are drawing the PPZ lines on Weekly and 4hr .. but not Daily .. and that catches most of the PPZ's when looking for Daily pinbars ? I must try give it a try, I have way too many lines on my chart.
  • #76,029
  • Sep 30, 2010 6:20am Sep 30, 2010 6:20am
Quoting billm
Hi, so you are drawing the PPZ lines on Weekly and 4hr .. but not Daily .. and that catches most of the PPZ's when looking for Daily pinbars ? I must try give it a try, I have way too many lines on my chart.

Yip this is what jim ment with his advice, draw on large time frames. this will unclutter your charts and still have the best ppz's on lower time frames.
Thank you j16!
  • #76,030
  • Sep 30, 2010 6:25am Sep 30, 2010 6:25am
Quoting anderou
Yip this is what jim ment with his advice, draw on large time frames. this will unclutter your charts and still have the best ppz's on lower time frames.

Actually, that is not what we were talking about.

If we do the weekly then move to the daily, minor PPZ will show up and there may be a lot of them. If we drop down to the H4 tf, the main ones will be more clearly vissible so in the end we will draw in the main ones, then just eyeball the minor ones on the daily.
  • #76,031
  • Sep 30, 2010 6:26am Sep 30, 2010 6:26am
Quoting billm
Hi, so you are drawing the PPZ lines on Weekly and 4hr .. but not Daily .. and that catches most of the PPZ's when looking for Daily pinbars ? I must try give it a try, I have way too many lines on my chart.

Yeah, that is it.

The main daily PPZ will show up more clearly on H4.

I think James intent was to help someone who had Birdcage problems, like I did.
  • #76,032
  • Sep 30, 2010 6:35am Sep 30, 2010 6:35am
Quoting Pinbar
Actually, that is not what we were talking about.

If we do the weekly then move to the daily, minor PPZ will show up and there may be a lot of them. If we drop down to the H4 tf, the main ones will be more clearly vissible so in the end we will draw in the main ones, then just eyeball the minor ones on the daily.
By drawing on the larger time frames cluttering is avoided, in doing this the best and clearest ppz's are identified. what time frame your trading on is actualy the question. trading on daily's, you will be best off drawing ppz on weekly and monthly(larger time frames), It is also a question of scale, zoom out on a daily chart and you will be able to draw exact ppz's on the WEEKLY, so in essence Jim's advice was for making charts more practical clear and uncluttered. So in other words, larger time frames, exactly what you were talking about
Thank you j16!
  • #76,033
  • Sep 30, 2010 6:43am Sep 30, 2010 6:43am
Quoting anderou
By drawing on the larger time frames cluttering is avoided, in doing this the best and clearest ppz's are identified. what time frame your trading on is actualy the question. trading on daily's, you will be best off drawing ppz on weekly and monthly(larger time frames), It is also a question of scale, zoom out on a daily chart and you will be able to draw exact ppz's on the WEEKLY, so in essence Jim's advice was for making charts more practical clear and uncluttered. So in other words, larger time frames, exactly what you were talking about

But, he is drawing the daily PZ on the smaller H4 TF so it is not actually a large TF PPZ.

He was talking about trading the daily TF based on these H4 PPZ.


Without being able to see the video, it is probably not that easy to get a grip on it.



Like this.
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  • #76,034
  • Edited 7:15am Sep 30, 2010 6:48am | Edited 7:15am
Quoting supremeChaos
which specific posts were these?
Thanks!
Here 1, 2, 3

EDIT: speaking of you. I just saw that you reached the 5000 posts!!! congratz And keep up the good work. We're expecting to see more of your extremely helpful, great posts
  • #76,035
  • Sep 30, 2010 7:11am Sep 30, 2010 7:11am
Hi, is this a matching high as shown in the pic.. I see a defined uptrend. If it is? Any reason why it failed?

http://img413.imageshack.us/img413/9504/doublehigh.jpg

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  • #76,036
  • Sep 30, 2010 7:22am Sep 30, 2010 7:22am
Quoting LiuLangZe
Hi, is this a matching high as shown in the pic.. I see a defined uptrend. If it is? Any reason why it failed?
The price is stuck in the triangle i draw a few posts behind: link And this chart shows why the 0.74 is an important PPZ area. Imho we will see the break of the triangle (dont know yet in which direction) in a few minutes when the USD Unemployment Claims will be released...
  • #76,037
  • Sep 30, 2010 7:27am Sep 30, 2010 7:27am
Quoting ppfx
Here 1, 2, 3
... I just saw that you...
Thanks Sir

i just enjoy helping others. im a Boy Scout
... & i enjoy answering the easy questions here
  • #76,038
  • Sep 30, 2010 7:43am Sep 30, 2010 7:43am
there is so much free space to go down, support broken with a BEOB. my target is 130.2
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  • #76,039
  • Sep 30, 2010 7:49am Sep 30, 2010 7:49am
Quoting supremeChaos
Thanks Sir

i just enjoy helping others. im a Boy Scout
... & i enjoy answering the easy questions here
Easy or not, what's important you help people here. So
  • #76,040
  • Sep 30, 2010 7:50am Sep 30, 2010 7:50am
Quoting ppfx
The price is stuck in the triangle i draw a few posts behind: link And this chart shows why the 0.74 is an important PPZ area. Imho we will see the break of the triangle (dont know yet in which direction) in a few minutes when the USD Unemployment Claims will be released...
Thx for the response ppfx! Am I right to say that if the matching high broke through 0.74 ppz, the chances of it moving upwards will be much higher?
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