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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

  • #76,841
  • Oct 7, 2010 8:15pm Oct 7, 2010 8:15pm
Silver is showing some signs at last. It finally moved almost 1$ in 1 day and managed to close below 22.50. What do you think guys?
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  • #76,842
  • Oct 7, 2010 8:17pm Oct 7, 2010 8:17pm
Quoting jarroo
Did you mean "elaborate a little more . . " . . just kidding.

I would say that they are the structure of a PPZ level.

Meaning . . Support level . .Price breaks through . .turns into Resistance . .(and vice versa), are what make up the PPZ level. Be it three bars or 100 bars.
Yes, I just got up, caught up with the thread and am on my second coffee, still half asleep.

Yes, too often I think of the PPZ incorrectly as a line, perhaps thinking of them more like a pencil with the thick body and thin lead, is more appropriate.
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  • #76,843
  • Oct 7, 2010 8:19pm Oct 7, 2010 8:19pm
Quoting Pinbar
Yes, I just got up, caught up with the thread and am on my second coffee, still half asleep.

Yes, too often I think of the PPZ incorrectly as a line, perhaps thinking of them more like a pencil with the thick body and thin lead, is more appropriate.
Excellent Pb . .great example . .
Indicators show the past. Price Action "Indicates" the future.
  • #76,844
  • Oct 7, 2010 8:23pm Oct 7, 2010 8:23pm
Quoting The Lord
Silver is showing some signs at last. It finally moved almost 1$ in 1 day and managed to close below 22.50. What do you think guys?
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I sold this for a quick hit as well looking for 22.20
  • #76,845
  • Oct 7, 2010 8:24pm Oct 7, 2010 8:24pm
Question for james or albatross,I know you both trade mini dow on around 5 min or so tf, do you find the dow alot easier to day trade then say EJ? or euro, just wondering why you chose dow rather then forex pairs.

thanks
  • #76,846
  • Oct 7, 2010 8:46pm Oct 7, 2010 8:46pm
ive been trading that/those markets for many many years. im much more experienced and comfortable with them.

are they easier? ive come to the conclusion that for new traders they are harder.

if new traders simply must daytrade as long as they stay in the london or the london/new york overlap they will probably find it easier.

its taken me a while to come to that conclusion.

im slowly moving more and more of my trading to the forex side of things.

i generally trade the ym or es on either 2000 tic or 4000 tic charts.

floor trader pivots are very reliable for a price action/s/r trader in those markets. they really do help when added to a confluence arsenal.

jim

Quoting Mr Smith
Question for james or albatross,I know you both trade mini dow on around 5 min or so tf, do you find the dow alot easier to day trade then say EJ? or euro, just wondering why you chose dow rather then forex pairs.

thanks
  • #76,847
  • Oct 7, 2010 8:47pm Oct 7, 2010 8:47pm
Quoting mbqb11
here ya go fap this is a large majority of them

http://www.forexfactory.com/showpost...ostcount=56751
best
mike

Thanks Mike.
  • #76,848
  • Oct 7, 2010 8:51pm Oct 7, 2010 8:51pm
i see you down there tia
  • #76,849
  • Oct 7, 2010 9:05pm Oct 7, 2010 9:05pm
Quoting xmzhang
Since this is a trade on the 4H-TF, I like to switch to a 15m-TF to look for PA. I got my PA on the 15m-TF via a beautifull PB off a very clear 4H-PPZ @ 15955-ish, triggered short at the break of this 15m-PB, target is the proven daily PPZ @ 15835.
May the force be with you.
Hey Zhang, correct me if I am wrong but based on your H4 and M15 charts, it looks like your 15m TF PB is formed while the 4H PB is still forming.
Your chart shows that after 4H PB is formed, price never reaches the 15955-ish level that you claimed to be a 4H-PPZ.
I would have thought that one would only look for PA down lower TF AFTER the signal on the higher TF is identified. In this case the 15m PB is observed within the 4H PB.
Is this acceptable by the seniors within J16 circle?

CY
  • #76,850
  • Edited 9:23pm Oct 7, 2010 9:07pm | Edited 9:23pm
CHF/JPY Daily DBHLC looks interesting but some serious obstacles to overcome.

I would like to see some large closing below the PPZ.

EDIT:

Looks like H4 is going to for the retest of the PPZ.
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  • #76,851
  • Oct 7, 2010 9:07pm Oct 7, 2010 9:07pm
Quoting Majestic12
Hi everyone

Entered this today. Stop at BE. I'm wondering whether to take profit or hang on to it and see what happens when the aussie news hits tonight - whats the j16 take on this. Interested to hear anyones thoughts and what experienced traders normally do in this situation when big news is coming.

Thanks.
Quoting Majestic12
Thanks jarroo, just read your reply to. i agree with you but somehow i still ended up with a small loss here. i'm thinking i should have taken some off the table to avoid that potential scenario. Was this just a case of oanda and their news spreads?

Majestic ? . . I thought you moved to B/E?? . . Dude??

I don't know about oanda and their news spread.

Respect those targets . . .they are areas where we don't know what Price will do when they get there. What we do know . . is that there will be a reaction when Price gets there . .we have to be prepared for that.

Being up 40-50+ pips and then ending the trade at break even or small loss . . I've been there . .and sometimes I still revisit there . .lol . . .Respecting those targets will change that my friend.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,852
  • Oct 7, 2010 9:11pm Oct 7, 2010 9:11pm
Quoting The Lord
Silver is showing some signs at last. It finally moved almost 1$ in 1 day and managed to close below 22.50. What do you think guys?
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Looks like a nice breakout with confirmation on the one hour TF.



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #76,853
  • Oct 7, 2010 9:21pm Oct 7, 2010 9:21pm
Quoting mbqb11
Nope doubt it, 5 is just about right for me. 3 for my charts 2 too work on.

Mike
I think NASA would be jelous of your place
  • #76,854
  • Oct 7, 2010 9:29pm Oct 7, 2010 9:29pm
chart
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  • #76,855
  • Oct 7, 2010 9:31pm Oct 7, 2010 9:31pm
There again, we have the 150 lining up with the lower PPZ.

Got to simplify things more.
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  • #76,856
  • Oct 7, 2010 9:34pm Oct 7, 2010 9:34pm
Quoting xmzhang
I want to share a demotrade which i took today on the G-U, everything I've learned so fare from this excellent thread (and all the senior members, Jarroo, Mike) made it possible for me to manage this trade nearly to perfection. Now for the trade; I saw on the 4H-TF this beautifull big PB off the BRN @ 16000, the only thing I didn't like was that it closed near a daily PPZ @ 15935-ish and of course the RNB @ 15900. In that case I would like to look for a better entrypoint rather than entering straight after the break of the PB (with a small buffer)....

Nice trade xmz...

I couldn't resist . .(Chart) . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #76,857
  • Oct 7, 2010 9:36pm Oct 7, 2010 9:36pm
Quoting Pinbar
CHF/JPY Daily DBHLC looks interesting but some serious obstacles to overcome.

I would like to see some large closing below the PPZ.

EDIT:

Looks like H4 is going to for the retest of the PPZ.
It didn't close below your ppz PB but should be interesting to see where a hard break takes us? 84.3? maybe...

The big man hardly ever notices the news but this time he's upon it like a tonne of bricks, lol...when he says watch out...

lol.

g.
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I believe . . .
  • #76,858
  • Oct 7, 2010 9:37pm Oct 7, 2010 9:37pm
bounce off TL. in line with the uptrend. buy on retracement..
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  • #76,859
  • Oct 7, 2010 9:37pm Oct 7, 2010 9:37pm
Quoting mbqb11
Geo why did you just buy the break? Why not wait for price action like we talked about in here? If you just buy a pure break you could have had plenty of time to take profit or get to b/e too.

Just trying to ask these questions so you ask them. Did you see my posts on the aud/jpy?

Best
Mike
I am the guilty of the same mistake. Before I put an order I was looking here did any one talk about this ? I didn't see any..nor I put one.. when I was in the deep water (Demo), I saw your post in the morning that you were still waiting for a PA bar on retrace..
Another lesson learned.. wait for a PA after the break.. Break is not trade.

so Mike, one more question, once the PA is formed, do you take the trade in a conventional way -- like Buy/sell - above/below the bar.. SL is on the other side of the bar.
  • #76,860
  • Oct 7, 2010 9:38pm Oct 7, 2010 9:38pm
Quoting james16
chart

I guess this is where the feed is important.

I mean, I am sure not many would take the break of the IB against that bearish bar on my feed.
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