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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

  • #77,161
  • Edited 9:58pm Oct 11, 2010 9:20pm | Edited 9:58pm
Quoting LiuLangZe
Oopps.. I meant TP. sorry for the typo, Btw Jim, what do you think of the pin on USD JPY daily? am currently outside so unable to post my chart. One of the forumer voiced out the concern on bank holidays so PA ytd might be pretty unreliable. Any views?
I would agree with that. Holiday bars are much like Sunday bars, incomplete trading data on the full market hours.

Daily PB on the Usd/Jpy is still a bit too small, tight trade mangement required if taken.
Indicators show the past. Price Action "Indicates" the future.
  • #77,162
  • Oct 11, 2010 9:28pm Oct 11, 2010 9:28pm
Quoting Atc
That FTA was to close so it was a pass for me ...but price hit its' target

Yes . . .that PB is sitting right on that 1.4100 PPZ level.

I would like to price break through that 1.4100 and then act as Resistance. The PB maybe telling us that it just might do that. . we shall see.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,163
  • Oct 11, 2010 9:43pm Oct 11, 2010 9:43pm
Quoting 666Doom
Hello again Sir,
Here is my chart,i think we must wait for a two bar reveral formation on 1.4200.
Wait i just saw a 1.4162 is a 38.2 weekly swing.
But i still believe we must wait for retrace at 1.4200.

What do u say sir.

One way to look at fib retracements of a PA setup is by a Fib Ret. of the formation itself. (Weekly chart).

On the Daily, the 38.2 lines up with the left eye . .the 1.4200. Also the 1.4200 is the bottom of this previous consoldation area. . .I like that too.

So bearish PA on the Daily or say the 4 hour would be well supported at the 1.4200 with the Weekly PB confluence.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,164
  • Oct 11, 2010 9:51pm Oct 11, 2010 9:51pm
Quoting jarroo
Yeah . .I see it too ghous.

The Weekly IPB is working out nicely . .Ghous.

I know the High of the IPB is near, not at . . the 1.3500. . .picky, picky, picky.

Looks like if we can get passed that previous bar High (yellow) its got a good chance to hit its target.

Higher time frames rule.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #77,165
  • Oct 11, 2010 10:05pm Oct 11, 2010 10:05pm
Quoting jarroo
The Weekly IPB is working out nicely . .Ghous.

I know the High of the IPB is near, not at . . the 1.3500. . .picky, picky, picky.

Looks like if we can get passed that previous bar High (yellow) its got a good chance to hit its target.

Higher time frames rule.

Jim

I believe . . .
  • #77,166
  • Oct 11, 2010 10:50pm Oct 11, 2010 10:50pm
Quoting ghous
These 2 doing a pretty ok job so far as well.

g.
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I believe . . .
  • #77,167
  • Oct 11, 2010 10:58pm Oct 11, 2010 10:58pm
Quoting jdl
You probably all have something like this already, but I didn't, so I just wrote it. It alerts you...
many thanks for sharing this alert EA

Quoting jarroo
I don't know why Pb, . . FxPro goes back to 1990 . .
FXPro live has some timeframes (like the Monthly TF) go back to Dec.1987, in fact.
FXPro demo might have less or equal to this data amount.
  • #77,168
  • Oct 11, 2010 11:00pm Oct 11, 2010 11:00pm
Quoting ghous
These 2 doing a pretty ok job so far as well.

g.
I understand AUDCAD formed a IPB both on daily as well as on weekly charts..

But not sure what is the Price action on GA to play long here ? Can you please shed some light on this ?
  • #77,169
  • Oct 11, 2010 11:13pm Oct 11, 2010 11:13pm
cprao,
it's also an IPB.
gbpaud's IPB is actually like a mirror image of audcad's IPB. (compare the bar close with the open)
go look at it again.:nerd:
  • #77,170
  • Oct 11, 2010 11:16pm Oct 11, 2010 11:16pm
I may have missed somthing but in order to qualify as a pin bar doesnt the close have to be within the range of the previous bar? I dont see that in this chart where you have the arrow pointing to. Again, I may have just missed it.

Thanks.


Quoting 666Doom
Hello again Sir,
Here is my chart,i think we must wait for a two bar reveral formation on 1.4200.
Wait i just saw a 1.4162 is a 38.2 weekly swing.
But i still believe we must wait for retrace at 1.4200.

What do u say sir.


http://img251.imageshack.us/img251/6...dweeklypin.gif
  • #77,171
  • Oct 11, 2010 11:26pm Oct 11, 2010 11:26pm
Quoting cprao
I understand AUDCAD formed a IPB both on daily as well as on weekly charts..

But not sure what is the Price action on GA to play long here ? Can you please shed some light on this ?
It is a bullish IPB CP, albeit a little tilted towards an indecision bar although the upper wick exceeds the shorter wick enough to still keep it in the IPB category in my book.

g.
I believe . . .
  • #77,172
  • Oct 11, 2010 11:39pm Oct 11, 2010 11:39pm
Quoting supremeChaos
cprao,
it's also an IPB.
gbpaud's IPB is actually like a mirror image of audcad's IPB. (compare the bar close with the open)
go look at it again.:nerd:
Thank you.. anyways, I am still not used to identify IPB's.. long way to go for this..

ON AUDCAD, I see the the high of the IPB is aligned to high of the previous bar.
Same goes with EURCHF (almost.)..

This indicates to me that, at an absolute swing high, price is unable to break the previous high.. acting as a resistance.. hence a bearish bias.

For AUCAD, VBRN is also there as a confluence factor.


But on GA, it is not the case.. the low of the IPB is not aligned with the previous bar.. also the close of the IPB is below the previous bar's close. It means the current bar (IPB) broke the low (EDIT) of the previous bar.. which could now act as a resistance..

My chart is - MBT platform.
  • #77,173
  • Oct 11, 2010 11:44pm Oct 11, 2010 11:44pm
Quoting ghous
It is a bullish IPB CP, albeit a little tilted towards an indecision bar although the upper wick exceeds the shorter wick enough to still keep it in the IPB category in my book.

g.
Ok. Ghous. Thank you for the reply.. anyways I don't need to worry about this set up now until I am comfortable with the regular PA's.
  • #77,174
  • Oct 11, 2010 11:45pm Oct 11, 2010 11:45pm
Opened an IBFX US account. The CAD/JPY chart data goes back to 1978 as opposed to the IBFX Australia data only going back to 2009.

That is almost criminally sly.
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  • #77,175
  • Oct 12, 2010 12:10am Oct 12, 2010 12:10am
Quoting fap103
I may have missed somthing but in order to qualify as a pin bar doesnt the close have to be within the range of the previous bar? I dont see that in this chart where you have the arrow pointing to. Again, I may have just missed it.

Thanks.
He is referring to the Weekly PB on the Daily time frame.
Indicators show the past. Price Action "Indicates" the future.
  • #77,176
  • Oct 12, 2010 12:12am Oct 12, 2010 12:12am
Quoting ghous
These 2 doing a pretty ok job so far as well.

g.
Nice . .g.
Indicators show the past. Price Action "Indicates" the future.
  • #77,177
  • Oct 12, 2010 12:32am Oct 12, 2010 12:32am
Something to watch on the Gbp/Aud. The 1.6250ish level to act as Resistance from previous Support since Price broke through it. A barrier of ghous' IPB to reach its target.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,178
  • Oct 12, 2010 1:29am Oct 12, 2010 1:29am
Hi Guys

I am thinking about joining the James 16 membership. Is there still plenty of action going on over there?
Pip Goes The Weasel
  • #77,179
  • Oct 12, 2010 1:33am Oct 12, 2010 1:33am
Quoting adrazz
Hi Guys

I am thinking about joining the James 16 membership. Is there still plenty of action going on over there?

Not sure what you mean about action, it is not like people are calling out trades and throwing you fish. They are teaching us to fish for ourselves.

There are abundant learning materials including at least 80 educational videos, on everything about the system, and much more.
At first glance, it can look a little overwhelming but, if you are serious about it, you can get through it in a reasonable amount of time.
  • #77,180
  • Oct 12, 2010 1:35am Oct 12, 2010 1:35am
Quoting Pinbar
Not sure what you mean about action, it is not like people are calling out trades and throwing you fish. They are teaching us to fish for ourselves.

There are abundant learning materials including at least 80 educational videos, on everything about the system, and much more.
At first glance, it can look a little overwhelming but, if you are serious about it, you can get through it in a reasonable amount of time.
Hi Pinbar

Thanks for the reply. Thats exactly what I am looking for. It is price action that I want to learn, are there many members over there?
Pip Goes The Weasel
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