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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

  • #76,401
  • Oct 4, 2010 6:20pm Oct 4, 2010 6:20pm
Quoting mbqb11
For me PP it just doesn't fit my style, I don't want to have to move to b/e take profit at 8600 coming off the strong up move....
i understand these stuff better now. the BEOB is trying to fight the 2 BUOB which is not a good situation to be in, going into a strong push up. so you will think about how easy will the management be before taking a trade? if those 2 BUOB were just normal Bullish bars, will you take today's BEOB?
  • #76,402
  • Oct 4, 2010 6:23pm Oct 4, 2010 6:23pm
Quoting premierpip
i understand these stuff better now. the BEOB is trying to fight the 2 BUOB which is not a good situation to be in, going into a strong push up. so you will think about how easy will the management be before taking a trade? if those 2 BUOB were just normal Bullish bars, will you take today's BEOB?
For me not necessarily, If this beob engulfed say 2-3 bars, was at a BRN, had more information then probably yes. Just a case where I would rather not be in then be in and a bit unsure. Have to feel comfortable otherwise becomes more difficult to manage(again not that anyone should not play it, it's if YOU feel good about it).

Best
Mike
  • #76,403
  • Oct 4, 2010 6:26pm Oct 4, 2010 6:26pm
Quoting mbqb11
bingo this is what I was getting at and wanted to hear you thinking about more then anything....
no problem, sir! i will do just that, experiment on my trade managements. getting out of the trade is the hard part, getting in was just the beginning. i'll be thinking more about managing my trades now. where do i expect price to reach and see what kind price bar do i get when price reaches that area. and whether i will take profit(full) or i think there will be a little more push.
  • #76,404
  • Oct 4, 2010 6:30pm Oct 4, 2010 6:30pm
Quoting premierpip
no problem, sir! i will do just that, experiment on my trade managements. getting out of the trade is the hard part, getting in was just the beginning. i'll be thinking more about managing my trades now. where do i expect price to reach and see what kind price bar do i get when price reaches that area. and whether i will take profit(full) or i think there will be a little more push.

Looks like you're going to learn alot on this one premierpip.

And so will we.
Indicators show the past. Price Action "Indicates" the future.
  • #76,405
  • Oct 4, 2010 6:31pm Oct 4, 2010 6:31pm
everyone

this is the myfxbook account of mr smith he has just opened yesterday

http://www.myfxbook.com/members/j16_...0-yearly/53702

myfxbook is very safe , it helped him hide the money he deposited....

it's very easy to open an myfxbook account to show everyone where you entry, where you take profit.... and more importantly it help us to know is that guy a profitable trader or only a bragger, a scammer

no way you can forge the evidence, because myfxbook verify your information and it refresh it every 5 m to update

No one here doubt about james?? why he refused opening myfxbook account??? James never live call one time in FF or even in his private website .... no student he taught prove they are profit ( by showing their results on myfxbook as a proof)

Guys , James fool us so long...wake up everyone
  • #76,406
  • Oct 4, 2010 6:33pm Oct 4, 2010 6:33pm
Quoting jarroo
The .8600 is the obvious target . .if it reaches there, there is going to be a reaction.

The reaction could be breaking right through it (.8600) and head for the .8500 or bounce back up to the .8700. So you have find your way on how you want to manage it. Moving to break even quickly is not a bad approach, while taking some off the table and let it ride. . .

Have you read James16's "This is Critical"?

http://www.forexfactory.com/showpost...ostcount=15568
so if i'm trading into a big number/PPZ i have to be really careful. either i get move my SL to BE as soon as the price is reached, or i place the order only after it has broken the RN/PPA. am i right? but will i be stupid if i'm taking a trade into a RN/PPZ which is 30 pips away? or do i pass it and wait for price to reach these RN/PPZ and look for another PA?
  • #76,407
  • Oct 4, 2010 6:34pm Oct 4, 2010 6:34pm
Quoting Fx000
everyone

this is the myfxbook account of mr smith he has just opened yesterday

http://www.myfxbook.com/members/j16_...0-yearly/53702

myfxbook is very safe , it helped him hide the money he deposited....

it's very easy to open an myfxbook account to show everyone where you entry, where you take profit.... and more importantly it help us to know is that guy a profitable trader or only a bragger, a scammer

no way you can forge the evidence, because myfxbook verify your information and it refresh it every 5 m to update

No...

Dude, take this garbage to those other threads, please.
Indicators show the past. Price Action "Indicates" the future.
  • #76,408
  • Oct 4, 2010 6:35pm Oct 4, 2010 6:35pm
Quoting mbqb11
For me not necessarily, If this beob engulfed say 2-3 bars, was at a BRN, had more information then probably yes. Just a case where I would rather not be in then be in and a bit unsure. Have to feel comfortable otherwise becomes more difficult to manage(again not that anyone should not play it, it's if YOU feel good about it).

Best
Mike
okay. so i have to look for more confluence. got a lot more to learn!
  • #76,409
  • Oct 4, 2010 6:35pm Oct 4, 2010 6:35pm
Quoting jarroo
Looks like you're going to learn alot on this one premierpip.

And so will we.
yeah.. but i believe it's worth it!
  • #76,410
  • Oct 4, 2010 6:43pm Oct 4, 2010 6:43pm
Quoting Fx000
everyone

this is the myfxbook account of mr smith he has just opened yesterday

http://www.myfxbook.com/members/j16_...0-yearly/53702

myfxbook is very safe , it helped him hide the money he deposited....

it's very easy to open an myfxbook account to show everyone where you entry, where you take profit.... and more importantly it help us to know is that guy a profitable trader or only a...
yeah. sorry to say this. everyone has different beliefs. some believe in Jesus, some believes in other god. some believes they are born poor, some believes they made themselves poor. i understand you want to save us.. i really appreciate it. but we chose what we believe and we put our faith in it. if we dont put faith in anything, we will never get anything. i hope you allow us new people to have a little faith in these new people here. if they are out to make money, they have a good business idea and we have to give it to them. they have really "fooled" us. but i will always have faith until one day, that faith starts to hurt me. it's like walking into a department store. they said the chocolate bar is the best in the world, you have faith and buy it. if the bar taste nice, good for you. if the bar taste bad, you have to blame yourself for not being the one who start this business.

sorry mate.. but i believe these stuff he taught is already in other materials, James16 just explained it more and put everything in a place.
  • #76,411
  • Oct 4, 2010 6:55pm Oct 4, 2010 6:55pm
Quoting premierpip
so if i'm trading into a big number/PPZ i have to be really careful. either i get move my SL to BE as soon as the price is reached, or i place the order only after it has broken the RN/PPA. am i right? but will i be stupid if i'm taking a trade into a RN/PPZ which is 30 pips away? or do i pass it and wait for price to reach these RN/PPZ and look for another PA?

These are all good question, premier. Me personally would be to manage it tightly. As Mike has said, and I agree, that the trend looks really strong and this bearish move may just be a small retrace to a larger move upward.

Let's look at the setup a bit closer. Notice the PPZ level that's in the BEOB. Classic Res turning into Sup . .now Price broke through this level again . . Sup turning into Res. . . is this now Res?? A tight stop loss above this level looks good.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,412
  • Oct 4, 2010 7:16pm Oct 4, 2010 7:16pm
Quoting jarroo
These are all good question, premier. Me personally would be to manage it tightly. As Mike has said, and I agree, that the trend looks really strong and this bearish move may just be a small retrace to a larger move upward.

Let's look at the setup a bit closer. Notice the PPZ level that's in the BEOB. Classic Res turning into Sup . .now Price broke through this level again . . Sup turning into Res. . . is this now Res?? A tight stop loss above this level looks good.
okay. so i have to be really careful with the minor PPZ, because when price breaks the old supports, it will most likely becomes resistance. and in today's scenario, if price breaks the resistance again, it will use that level as support. which means support will push the price up. so if my trade is triggered and it went back as support, i know that the price will be going up with that level as support. it will reach my SL soon. so if it breaks, i might be better off cutting my lose. right?

anyway, i have another problem. as you guys know analyzing can be a tedious thing. finding all the PPZ and nice areas on all the charts, i am using the forextester and i realize i keep doing analyzing and got really tired of it that now, i just look for old bar to close and see if there is PA and then analyze. i know this way i will curve fit the PA, any other way? or do i have to analyze after the 5 weekdays and wait for PA to appear at those PPZ areas?
  • #76,413
  • Oct 4, 2010 7:18pm Oct 4, 2010 7:18pm
Quoting premierpip
okay. so i have to be really careful with the minor PPZ, because when price breaks the old supports, it will most likely becomes resistance. and in today's scenario, if price breaks the resistance again, it will use that level as support. which means support will push the price up. so if my trade is triggered and it went back as support, i know that the price will be going up with that level as support. it will reach my SL soon. so if it breaks, i might be better off cutting my lose. right?

anyway, i have another problem. as you guys know analyzing...
I think if you are waiting for the more obvious you won't have to update your charts all that much. Major PPZs are around for a LONG time, look for them and watch the different pairs at them. In terms of once you are in a trade I think most of us narrow down the small minor zones then, rather then covering ones chart in support/resistance.

identify the bigger/better areas to find trades(they will be the most obvious ones that jump out) and you will simplify things greatly. Same goes for what bars you choose to trade. The easier it is to see the easier it is to trade in my opinion

Best
Mike
  • #76,414
  • Oct 4, 2010 7:28pm Oct 4, 2010 7:28pm
Quoting mbqb11
I think if you are waiting for the more obvious you won't have to update your charts all that much....

okay. so i identify out those major PPZ and then wait for prices to reach these areas, then i wait for PA to support a move and when i'm in a trade, i look into minor PPZ to manage my trades?
  • #76,415
  • Oct 4, 2010 7:29pm Oct 4, 2010 7:29pm
Quoting premierpip
okay. so i have to be really careful with the minor PPZ, because when price breaks the old supports, it will most likely becomes resistance. and in today's scenario, if price breaks the resistance again, it will use that level as support. which means support will push the price up. so if my trade is triggered and it went back as support, i know that the price will be going up with that level as support. it will reach my SL soon. so if it breaks, i might be better off cutting my lose. right?
Right!! Excellent! Also true at the .8600

And what that tells me is that the uptrend is really strong and we will continue to the moon.

Also the .8575.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,416
  • Oct 4, 2010 7:42pm Oct 4, 2010 7:42pm
Quoting jarroo
Right!! Excellent! Also true at the .8600

And what that tells me is that the uptrend is really strong and we will continue to the moon.

Also the .8575.
thanks so much. thats tons of info in a day!
  • #76,417
  • Oct 4, 2010 7:43pm Oct 4, 2010 7:43pm
Quoting premierpip
thanks so much. thats tons of info in a day!
Indicators show the past. Price Action "Indicates" the future.
  • #76,418
  • Oct 4, 2010 7:47pm Oct 4, 2010 7:47pm
Quoting Jonnyislost
Yes sir
Quoting jarroo
No retest on that this one . . .
The IBFX feed had a nice retest and a better entry.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,419
  • Oct 4, 2010 8:11pm Oct 4, 2010 8:11pm
Quoting jarroo
Yes, it would. The previous bar Lows would be the proxy to the PB closing within the previous bar.

Yes, the close is not very bullish, weak.
What is 'PB by proxy' ??
  • #76,420
  • Oct 4, 2010 8:20pm Oct 4, 2010 8:20pm
Quoting Imphilomath
What is 'PB by proxy' ??
Proxy is using another bar as our 'left eye', when price is not contained within the previous bar

Example

The check mark is our proxy bar. The arrow is our pinbar. Notice it is not a traditional pin that has open and close within the prior bar. Instead it has a close within the proxy bar


Best
Mike
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