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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

  • #77,401
  • Oct 13, 2010 11:30pm Oct 13, 2010 11:30pm
Quoting xmzhang
Thanx Jarroo. Do you think that a touch trade would be an option in this trade, since price pulled back to a strong BRN @ 13000 ? In general when price pulls back to a BRN/strong PPZ's could one consider taking a touch trade off these strong area's ?

May the force be with you.

Yes, a touch trade can be considered at these strong BRN/PPZ levels. But there is nothing like a solid PA confirmation on the lower time frame to improve a touch trade's probability.

Also, any additional confluence to a strong PPZ level can make all the difference to a potential touch trade. Like the 135.00, strong BRN, PPZ level with just that added 150ema confluence probably made the difference, at least to me.


Ghous had a post awhile back showing this nicely on the 4 hour GJ. .mutliplie confluences coming together at one point. . .50% ret., trendline and Daily PPZ level.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,402
  • Oct 13, 2010 11:34pm Oct 13, 2010 11:34pm
Quoting jarroo
Yes, a touch trade can be considered at these strong BRN/PPZ levels. But there is nothing like a solid PA confirmation on the lower time frame to improve a touch trade's probability.

Also, any additional confluence to a strong PPZ level can make all the difference to a potential touch trade. Like the 135.00, strong BRN, PPZ level with just that added 150ema confluence probably made the difference, at least to me.


Ghous had a post awhile back showing this nicely on the 4 hour GJ. .mutliplie confluences coming together at one point. . .50%...
Squeezy had a good one too. ..

Check out Raczekfx's posts within this thread and you'll find even more.


Quoting squeezy
I believe this is one of Rac's
ppz + 50fib + tl confluence
a smallish looking pin on the 30mins tf
Indicators show the past. Price Action "Indicates" the future.
  • #77,403
  • Oct 13, 2010 11:39pm Oct 13, 2010 11:39pm
hi guys, I took the PB on UY on daily (FXDD feed) that emerged on Oct 11th but failed. Anyone can give an advice how I could have avoided this loss?

thank you in advance.
Market can stay irrational longer than you can stay solvent.
  • #77,404
  • Oct 13, 2010 11:49pm Oct 13, 2010 11:49pm
Quoting FXBat
hi guys, I took the PB on UY on daily (FXDD feed) that emerged on Oct 11th but failed. Anyone can give an advice how I could have avoided this loss?

thank you in advance.

Don't take little PBs to countertrend such a strong move down. . .simple as that, . . don't trade'em.

Look at the Big BUB . . .that couldn't even turn it around. Its going to take some BIG Bullish PA or thick consolidation to turn that down trend around.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,405
  • Oct 14, 2010 12:04am Oct 14, 2010 12:04am
Hello all,

This is the best price action forum I have ever visited.

Thank you all for the charts and educational discussion.

By the way what is BRNs?

Cheers
  • #77,406
  • Oct 14, 2010 12:07am Oct 14, 2010 12:07am
Quoting Learn2b
Hello all,

This is the best price action forum I have ever visited.

Thank you all for the charts and educational discussion.

By the way what is BRNs?

Cheers
BRN = Big Round Number
VBRN = Very Big Round Number
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File Type: xls James16 Strategy Abbreviations.xls   20 KB | 1,202 downloads
  • #77,407
  • Oct 14, 2010 12:11am Oct 14, 2010 12:11am
Quoting Learn2b
Hello all,

This is the best price action forum I have ever visited.

Thank you all for the charts and educational discussion.

By the way what is BRNs?

Cheers

Here you go.
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  • #77,408
  • Oct 14, 2010 12:18am Oct 14, 2010 12:18am
watch out for a breakout of siemens today. >80 euro.
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meine augen sind die sterne
  • #77,409
  • Oct 14, 2010 12:36am Oct 14, 2010 12:36am
Thank you cprao and pinbar.

PS. back to reading the thread.
  • #77,410
  • Oct 14, 2010 12:49am Oct 14, 2010 12:49am
Quoting xmzhang
Thanx Jarroo. Do you think that a touch trade would be an option in this trade, since price pulled back to a strong BRN @ 13000 ? In general when price pulls back to a BRN/strong PPZ's could one consider taking a touch trade off these strong area's ?

May the force be with you.

PA, at these levels, is always a better confirmation .. .
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Indicators show the past. Price Action "Indicates" the future.
  • #77,411
  • Oct 14, 2010 12:52am Oct 14, 2010 12:52am
Quoting jarroo
Squeezy had a good one too. ..

Check out Raczekfx's posts within this thread and you'll find even more.
Hi Jaroo,
Can you direct me where I can read about touch trade. I understand the concept ( quick trade taken at S/R for a quick trade expecting reaction at the level) but wanted to learn more. I searched for Raczekfx and thread for 'touch thread' but did not find explanation about touch trade.

appreciate if you can direct me please.

cheers
  • #77,412
  • Oct 14, 2010 12:59am Oct 14, 2010 12:59am
Quoting Pinbar
Here you go.
Can you please share the indicator mq4? apology if someone has already done that.

cheers
  • #77,413
  • Oct 14, 2010 1:03am Oct 14, 2010 1:03am
Quoting Imphilomath
Can you please share the indicator mq4? apology if someone has already done that.

cheers

You mean the Round number indicator?
http://www.forexfactory.com/showpost...ostcount=77041


If you use a 5 digit broker, you set the inputs for 5 digits ie: 5000 pips will actually be 500 pips.
You may need to play around with the SHIFT LINES number, or it will be too far to the right , off the screen or too long.

Need someone to fix the code so it always stays on the screen even if you scroll back.


Works fine on my IBFX 5 digit account and even my live 4 digit account.
  • #77,414
  • Oct 14, 2010 1:06am Oct 14, 2010 1:06am
Quoting Imphilomath
Hi Jaroo,
Can you direct me where I can read about touch trade. I understand the concept ( quick trade taken at S/R for a quick trade expecting reaction at the level) but wanted to learn more. I searched for Raczekfx and thread for 'touch thread' but did not find explanation about touch trade.

appreciate if you can direct me please.

cheers
The discussion of touch trades are relatively new to this thread. So there is no explanation on how to execute one way or another. . .(except maybe studing Raczekfx charts . .)

I would concentrate on finding great locations followed by great PA which this thread has many explanations within. Over time, you may find your own style of finding and trading a touch trade.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #77,415
  • Oct 14, 2010 1:16am Oct 14, 2010 1:16am
Quoting Pinbar
You mean the Round number indicator?
http://www.forexfactory.com/showpost...ostcount=77041


If you use a 5 digit broker, you set the inputs for 5 digits ie: 5000 pips will actually be 500 pips.
You may need to play around with the SHIFT LINES number, or it will be too far to the right , off the screen or too long.

Need someone to fix the code so it always stays on the screen even if you scroll back.


Works fine on my IBFX 5 digit account and even my live 4 digit account.
Thank you sir !! worked on my MT4 :-)

cheers
  • #77,416
  • Oct 14, 2010 1:19am Oct 14, 2010 1:19am
Quoting jarroo
The discussion of touch trades are relatively new to this thread. So there is no explanation on how to execute one way or another. . .(except maybe studing Raczekfx charts . .)

I would concentrate on finding great locations followed by great PA which this thread has many explanations within. Over time, you may find your own style of finding and trading a touch trade.

Jim
Thanks Jim !! I was only curious :-) I think I can only handle daily/weekly :-)
touch trade will be too stressful for me :-)

But always good to learn something new everyday from seniors here, appreciate your comments.

cheers
  • #77,417
  • Oct 14, 2010 1:22am Oct 14, 2010 1:22am
Quoting joelcf
Grab the Nasdaq 100, FTSE100, maybe the Nik225/DAX30/CAC40/ASX50 if you are desperate. Just check the daily turnover and the insider ownership if you are adding smaller caps... otherwise, you are just asking for trouble.

Skip AMEX and Russell. In general, they are too thin to really be tradeable. Obviously there are a bunch of Rus1k companies are liquid, but they will show up in your S&P and Dow scans anyways. The rest arent really worth the headache IMO.



The Russell3000 is a bigass index of the top 3000 US equities (across all exchanges)....
Hello Joel, thank you very much for such a detailed info!!! You really saved me months and months of trial and error. I will add Nasdaq 100. I don't know if my broker supports european stocks (it is thinkorswim) I think no. But anyway I will keep this info in mind. Thank you!
  • #77,418
  • Oct 14, 2010 1:25am Oct 14, 2010 1:25am
Quoting Imphilomath
Thanks Jim !! I was only curious :-) I think I can only handle daily/weekly :-)
touch trade will be too stressful for me :-)

But always good to learn something new everyday from seniors here, appreciate your comments.

cheers

I understand Imphilomath . . my eyes would glaze over looking at Rac's charts early when I started in this thread

. . .it was over time that once I understood the basic methology of James16's Price Action, that Rac's charts began making sense and still I look at some of them and say,"where did he get that one?" . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #77,419
  • Oct 14, 2010 1:27am Oct 14, 2010 1:27am
Is it me or does GU have the giant cup and handle look to it as we approach the BRN.
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  • #77,420
  • Oct 14, 2010 1:29am Oct 14, 2010 1:29am
Quoting Pinbar
Is it me or does GU have the giant cup and handle look to it as we approach the BRN.

Nice Pb . .lol . .wow . .that stucker was hiding in plain sight . .
Indicators show the past. Price Action "Indicates" the future.
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