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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

  • #76,881
  • Oct 7, 2010 8:24pm Oct 7, 2010 8:24pm
Quoting jarroo
I must confess . . . .
Isn't not me . .. lolol . . . . I've always been Jarroo . . .
Indicators show the past. Price Action "Indicates" the future.
  • #76,882
  • Oct 7, 2010 8:25pm Oct 7, 2010 8:25pm
Quoting jarroo
I must confess . . . .
I knew it.

You gave the game away when you tried to sell me that fibbonacci system ebook


*watches the flood of 'can you download me ebook system plz' PMs roll in*
When you have to shoot, shoot. Dont talk.
  • #76,883
  • Oct 7, 2010 8:27pm Oct 7, 2010 8:27pm
Quoting joelcf
I knew it.

You gave the game away when you tried to sell me that fibbonacci system ebook


*watches the flood of 'can you download me ebook system plz' PMs roll in*

easiest $99 I ever made . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #76,884
  • Oct 7, 2010 8:34pm Oct 7, 2010 8:34pm
Quoting ertorque
Hi Cprao, were you refering to the AUJP charts?
If so, I think you meant putting a buy order right above the top of the consolidation box right?
Why, in that case there should be some amt of profit because price broke hard ,didn't they?
I understand that setting a TP is another story but in this particular case there was almost 40pips of profit, wasn't there?
Thanks.
Yes. I was talking about AJ pair only. But I didn't take right after the break.
I was not even available when the break happened. When I saw the trade, it broke the pattern and retracing back to the reistance line 81.40.
So I took the trade 81.55 and SL at 80.90.. When I put the order there was no PA.
I expected that now 81.40 will act as a support. I put the break-even at 82.

So two mistakes:
1. Not waited for a PA
2. Nor quick to BE.. (price moved up by 25 pips from my entry)
Attached Image(s) (click to enlarge)
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  • #76,885
  • Oct 7, 2010 8:36pm Oct 7, 2010 8:36pm
Quoting jarroo
Hey CY
The 15min PB did form after the 4 hour PB was formed at that retracement level.

I know it did on this meta trader 5 feed and I'm sure it did on xmz's feed as well.
Thanks! I knew it did on your chart but not on Zhang's.
Look at the chart he posted. Price never touched the 15955 after the PB.
Yes maybe he has another feed upon which he based his moves (and not on the chart he posted).
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  • #76,886
  • Oct 7, 2010 8:44pm Oct 7, 2010 8:44pm
Quoting ertorque
Thanks! I knew it did on your chart but not on Zhang's.
Look at the chart he posted. Price never touched the 15955 after the PB.
Yes maybe he has another feed upon which he based his moves (and not on the chart he posted).

Look a little closer . .its there . .it did form after the 4 hour PB.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,887
  • Oct 7, 2010 8:48pm Oct 7, 2010 8:48pm
Quoting jarroo
Look a little closer . .its there . .it did form after the 4 hour PB.

Wait a minute . .that is weird . .it showed up on the 15 but not the 4 hour . . .bad feed in my book. . .but it did form after the 4 Hour PB.
Indicators show the past. Price Action "Indicates" the future.
  • #76,888
  • Oct 7, 2010 9:37pm Oct 7, 2010 9:37pm
Hey guys,

Was looking at the NZDUSD pin and would appreciate some comments on my thought process.

-Nose could be longer
-Pin got rejected off 0.7550 + ppz but not the 0.76 which would have been preferred personally
- Closed weakly below 0.75
- Some space to run till 0.74

Not the best of pins to trade but good for a quick profit. Wanted to wait for a test of 0.75 for bearish PA before entering instead of just entering on pure break of the pin.

Any comments?
  • #76,889
  • Oct 7, 2010 9:44pm Oct 7, 2010 9:44pm
Quoting james16
8 years of losing fixed me but this is something i posted many years ago.

i still get positive emails about this.

100 Pips Per Month
Here is an example of why trading smart can be a door to success. At the start of the month you decide on one or a set of pairs you want to trade. Your goal is 100 pips for each pair for the month. The first and all trades you take whether it happens on the first of the month or the twentieth will be the best set up your system can give within reason. No fudging, no borderline trades for that pair until...
Ok James, this is one of those post that after reading the 1st time I said Huh? After the second time I said Huh. The third time HUH!!!!!
I might try this out. I want to stay conservative ,but like everyone else would love to see my small account blossom fast.

Just had some technical questions: 1. would you recommend trading multiple TF for each pair. Seems to me that by watching the 4h, daily, and weekly you could find at least 1 b+ or better set up a day. 2. Would you eliminate any buffer on a trigger, just factor in the spread only since your going for a quick 5 pips?
  • #76,890
  • Oct 7, 2010 9:44pm Oct 7, 2010 9:44pm
Quoting melvin87
Hey guys,
Was looking at the NZDUSD pin and would appreciate some comments on my thought process. ...
Hey melvin87,
as Sir jarroo would sometimes tell me...
'got a chart'?
(we need to see your chart so we can try to view things 'through your telescope')

in 1 of my feeds.. it closed as a weak pin, closing just 1 pip below 0.75
  • #76,891
  • Oct 7, 2010 9:53pm Oct 7, 2010 9:53pm
Quoting spookie94
Ok James...
Just had some technical questions: 1. would you recommend trading multiple TF for each pair. Seems to me that by watching the 4h, daily, and weekly you could find at least 1 b+ or better set up a day. 2. Would you eliminate any buffer on a trigger, just factor in the spread only since your going for a quick 5 pips?
u may or may not opt to check multiple TFs, as most pairs's average daily range is +/-100pips.

i dont think he literally meant that u should target 5pips a day. i believe he just emphasized that fact (100 pips/20trading days = 5pips) to show that targeting/making 100pips a month is not difficult.

...& A+ setups all the way. if u take mediocre/"B+" setups, then your 100pip/month goal may get jeopardized (mediocre setups = more chance of trading losses).
  • #76,892
  • Edited 10:15pm Oct 7, 2010 9:58pm | Edited 10:15pm
Quoting melvin87
Hey guys,

Was looking at the NZDUSD pin and would appreciate some comments on my thought process.

-Nose could be longer
-Pin got rejected off 0.7550 + ppz but not the 0.76 which would have been preferred personally
- Closed weakly below 0.75
- Some space to run till 0.74

Not the best of pins to trade but good for a quick profit. Wanted to wait for a test of 0.75 for bearish PA before entering instead of just entering on pure break of the pin.

Any comments?

Not too bad, mel . . but its got some traffic infront of it. I believe you're right on the weak close of the .7500 . . more of a neutral looking bar.
Stronger confirmation below the .7500 would be telling.


Yes . . a chart would help . .(thx sChoas)
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,893
  • Oct 7, 2010 10:08pm Oct 7, 2010 10:08pm
Quoting roundrock
bounce off TL. in line with the uptrend. buy on retracement..
People who are dealing with Silver!!!! Please please please!!! Be very quick :::: TO PUT YOUR STOP LOSSES TO BREAK EVEN AND REVERSE THE TRADE

WHEN SILVER PRICES START GIRATING 1 DOLLAR+ DAYS ON THE DOWN SIDE IT CAN TURN OUT TO BE VERY HOT POTATO!!!!

hope you get my drift particularly it is so when it gets out of this channel it is in , it will drop harder..

Conclusion : Dont try dip buying if prices out of the channel. I dont wish anybody to get burnt with commodity PA , they can be very very vicious

Regards
  • #76,894
  • Oct 7, 2010 10:09pm Oct 7, 2010 10:09pm
Quoting spookie94
Ok James, this is one of those post that after reading the 1st time I said Huh? After the second time I said Huh....

I think this is a great idea as, I am all over the place watching 15 pairs.

Right, I am confining myself to no more than 5 pairs and I will chose the ones that are not at rock bottom.

I already decided on GU & EU.....Any advice for 3 more pairs?
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  • #76,895
  • Oct 7, 2010 10:16pm Oct 7, 2010 10:16pm
Quoting jarroo
Not too bad, mel . . but its got some traffic infront of it. I believe you're right on the weak close of the .7500 . . more of a neutral looking bar.
Stronger confirmation below the .7500 would be telling.


Yes . . a chart would help . .(tnx sChoas)
LOL sorry i saved the chart but forgot to upload it. Its almost the same as jarroo except I didnt really mark out the immediate traffic right below the break of that pin. I thought it would be of some minor obstruction but still expected price to move to a 'stronger' ppz at 0.74.

No bearish PA as of now at 0.75 to confirm the downward move though.
Attached Image
  • #76,896
  • Oct 7, 2010 10:23pm Oct 7, 2010 10:23pm
Quoting melvin87
LOL sorry i saved the chart but forgot to upload it. Its almost the same as jarroo except I didnt really mark out the immediate traffic right below the break of that pin. I thought it would be of some minor obstruction but still expected price to move to a 'stronger' ppz at 0.74.

No bearish PA as of now at 0.75 to confirm the downward move though.

This may be true mel .. Price may cut through it all to the .7400. . . but the purple area, at the .7455 is a PPZ level . .it is not minor.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,897
  • Oct 7, 2010 10:31pm Oct 7, 2010 10:31pm
Quoting Pinbar
I think this is a great idea as, I am all over the place watching 15 pairs..I already decided on GU & EU.....Any advice for 3 more pairs?
no particular reason...choose from
audusd, usdcad, usdchf, eurjpy, audjpy

  • #76,898
  • Edited 11:03pm Oct 7, 2010 10:46pm | Edited 11:03pm
Critical PA on EurUsd daily chart.
We've got a bearish pinbar (sadly its close > open on my feed)
at a swing high
at a BRN (1,4000)
off the 61,8 fib retracement (1,5144 to 1,1875 move)
Is this setup good enough ?
Attached Image(s) (click to enlarge)
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  • #76,899
  • Oct 7, 2010 10:50pm Oct 7, 2010 10:50pm
Quoting jarroo
This may be true mel .. Price may cut through it all to the .7400. . . but the purple area, at the .7455 is a PPZ level . .it is not minor.
Ahh okok. The reason I considered it minor was because there were only a couple of bars that got rejected off it as compared to the 0.74. But i'll definitely keep a look out for areas like this next time and mark them off. Thanks again jarroo!
  • #76,900
  • Oct 7, 2010 11:13pm Oct 7, 2010 11:13pm
Quoting ts63
Critical PA on EurUsd daily chart.
We've got a bearish pinbar (sadly its close > open on my feed)
at a swing high
at a BRN (1,4000)
off the 61,8 fib retracement (1,5144 to 1,1875 move)
Is this setup good enough ?
good enough? personally, i dont think so.
that pinbar close was not good enough... & so is it's size.

having said that, we have important US news 6+ hours from now (see FF calendar), so im open to a possibility that price may go down (which i'll consider a 'healthy' retracement of the current upmove) towards 1.3400 - 1.3800 area.

if trend continues, 1.4900 - 1.5100 area (2009 high) doesnt seem far-fetched now (with 1.4200 - 1.4600 possible next problem area, if we are headed further up).
let's see what PA does.
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