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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

  • #77,841
  • Oct 19, 2010 1:28pm Oct 19, 2010 1:28pm
Quoting menomoo
Would this bi a pin bar you would take on an hourly chart or? Wait for this PPZ to break and see what the PA will show for re test on a retrace? Thanks in advance!!
be careful Meno

See the huge bearish bars before that, we want to be very careful fighting that beast. Also notice the nose and body of the bar are about equal. I don't really put those in the pinbar category.

Best
Mike
  • #77,842
  • Oct 19, 2010 1:28pm Oct 19, 2010 1:28pm
@jim
is there a way of calculating the PPZ
what is the difference between PPZ and S/R

@mike please post the link to the list of:
PPZ
S/R
PB
IB
etc..............

much love
If you don't control your emotion it will control you.
  • #77,843
  • Oct 19, 2010 1:36pm Oct 19, 2010 1:36pm
DAMN!! Well, let me start off with my dad's baseball story. Personally I hated baseball, and don't watch it today at all. I played basketball, but as I get older, sports are less and less important, I would rather have enough money to have a family someday. I guess if I could go on 4 or 5 hours of sleep like you guys, I would have more time for it.

My dad played JuCo baseball in Iowa back in the early 1970's. Back in those days, JuCo was the stud level, and D1 was the guys the Majors were not interested in. JuCo is where the Majors sent their prospects before Single A. So my dad ended up batting against a few future MLB pitchers. One pitched for the St. Louis Cardinals for like 12 years (have to ask him the name again). The guy before him got hit in the face with a 95+ MPH fastball. Talk about intimidated. To make things worse, the left the guy in the game and my dad had to bat against him right after that. First pitch down the middle of the plate, and my dad said he was never so happy to pop-fly out.

Now my DAMN!

James once posted that he made it to the top of the mountain and the view is so beautiful. He wishes he could share it with us. After 3 years of looking over charts, reading and studying all sorts of things, I believe I might be at the Mountain top, I just don't realize it yet.

I knew the USD would be strong today. IPB on the weekly GBPUSD. Bounce off many round numbers on USD pairs. Head and shoulders appear to be forming. Bearish action on the Friday GBPUSD and EURUSD daily charts. I kept saying to myself, this is going down. I didn't have a specific price action to base it off of, but I was tempted to just get in at the current price knowing that the pairs were likely to go where I expected.

And they did just that. I was too conservative. The last piece for me to realize is that we are trading. There will be loses, we will be wrong, we will be wrong MANY times, even many times in a row. It is okay, as long as we stick to our rules and follow our knowledge.

I think now it is a matter of letting go, and I think it is time for me to do just that.
  • #77,844
  • Oct 19, 2010 1:44pm Oct 19, 2010 1:44pm
Can anyone tell me why this trade went against me? DBLHC
The difference between them is 1.
Thanks
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Thanks

Much love
If you don't control your emotion it will control you.
  • #77,845
  • Oct 19, 2010 1:49pm Oct 19, 2010 1:49pm
Quoting Pinbar
This is EG. I trashed the weekly screen shot by mistake, but I did the same on the weekly as the Monthly.

We get breaks, retests, before break of the next range or reversal to the upper range. This is going on, on all pairs all the time.
PB, just one question: What do you mean by 'monthly con' on your charts? Are those the borders of the rectangles you marked the monthly ranges with?
Thanks J16, Sam Seiden, Udine and Jacko
  • #77,846
  • Oct 19, 2010 1:49pm Oct 19, 2010 1:49pm
Quoting emmy01
Can anyone tell me why this trade went against me? DBLHC
The difference between them is 1.
Thanks
Attachment

Thanks

Much love
Hey Emmy

This was a very sideways consolidating market and that pattern occurred in the center of it. This is what we refer to as major traffic. We want to find that pattern at a swing low, away from this consolidating market. This will chop up many traders. The first thing my eye is drawn to is the market environment.

Let me know if that makes sense
Mike
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  • #77,847
  • Oct 19, 2010 2:02pm Oct 19, 2010 2:02pm
What you guys think of that PB retraced by the 365 EMA and the 1.4500 BRN which is a PPZ level too.

Fta would be for me the orange line
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  • #77,848
  • Oct 19, 2010 2:06pm Oct 19, 2010 2:06pm
Quoting mbqb11
be careful Meno

See the huge bearish bars before that, we want to be very careful fighting that beast. Also notice the nose and body of the bar are about equal. I don't really put those in the pinbar category.

Best
Mike
Yess ! Mike , that was for educational purposes for others to see Mike . I appreciate your reply and now that PPZ broken , can you give your insight to how you would play this situation . As a matter of fact I have to say it will give a reaction from 1.37 BRN or near by and possibly test 1.38 BRN . I mean I mention these target points to keep a very keen eye on PA around these points.

Thanks
  • #77,849
  • Oct 19, 2010 2:20pm Oct 19, 2010 2:20pm
Quoting john225
What you guys think of that PB retraced by the 365 EMA and the 1.4500 BRN which is a PPZ level too.

Fta would be for me the orange line
Hey john,

I would agree with you on the FTA.

If you zoom out a bit, you'll see that there is a price flip just under this pin bar. It lines up with your FTA -- so just to emphasize: don't be surprised if price shoots straight up after touching this area. It's too close for me, but it depends on your trading style.

Hope this helps,

-- Danny (go Yankees!)
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  • #77,850
  • Oct 19, 2010 2:39pm Oct 19, 2010 2:39pm
Quoting menomoo
Yess ! Mike , that was for educational purposes for others to see Mike . I appreciate your reply and now that PPZ broken , can you give your insight to how you would play this situation . As a matter of fact I have to say it will give a reaction from 1.37 BRN or near by and possibly test 1.38 BRN . I mean I mention these target points to keep a very keen eye on PA around these points.

Thanks
Hey M

I am really just sidelined. I didn't like anything up at 1.4 but will be watching if we retest 1.4, or get back to 1.35. Until then I will be a spectator on this pair.

Best
Mike
  • #77,851
  • Oct 19, 2010 3:14pm Oct 19, 2010 3:14pm
http://cdn.forexfactory.com/attachme...1&d=1287507953

This one was a good trade,but why the pinbar exactly one week ago(same pair) faild?
Wellcome to the good life!
  • #77,852
  • Oct 19, 2010 3:19pm Oct 19, 2010 3:19pm
Quoting yarin

This one was a good trade,but why the pinbar exactly one week ago(same pair) faild?
Hey Yarin

That one did what it was supposed to also. Remember a pinbar is not valid until the low breaks. So it took a few days for it to break(which a lot of people will pull their orders). If you left your order though notice it went exactly to those previous lows.

I didn't like the size, or how either of these sat though. But I prefer the recent one if any since it tested the previous high to give us that clear divergence
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  • #77,853
  • Oct 19, 2010 3:20pm Oct 19, 2010 3:20pm
Quoting yarin
This one was a good trade,but why the pinbar exactly one week ago(same pair) faild?
Hi yarin,

We discussed this invalid pin-bar here:

Quoting bluetrader
Just to add to this, it's technically not a pin bar. The low of the bar is below the low of the prior bar.
EDIT: Dang! Mike beat me.
  • #77,854
  • Oct 19, 2010 3:40pm Oct 19, 2010 3:40pm
yeah you right, my bad :
BTW, what feed james use for his chart? beacuse i didnt get this nice BOB in the EU in my chart.
you think there are more reliable feed then others? or anytime you get a pattren on any feed its good as long as you follow james ruls?
Wellcome to the good life!
  • #77,855
  • Oct 19, 2010 3:51pm Oct 19, 2010 3:51pm
Considering this Aud/Usd (assuming it closes as is)

BEOB through the previous PPZ around .9849 and recently off the BRN.

Thoughts?
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  • #77,856
  • Oct 19, 2010 3:56pm Oct 19, 2010 3:56pm
Quoting yarin
yeah you right, my bad :
BTW, what feed james use for his chart? beacuse i didnt get this nice BOB in the EU in my chart.
you think there are more reliable feed then others? or anytime you get a pattren on any feed its good as long as you follow james ruls?
From what I can tell, it looks like IBFX (maybe James can clarify). In my opinion, I don't think there is one feed more reliable than others. There will be times when you get a great bar and others don't.

Remember, all these feeds are generally the same except for the server time. We care that price reacts strongly at important areas of support/resistance. These strong reactions manifest themselves into pin bars, outside bars, etc. That's it. Don't worry about catching every bar because there is so much more to it than just the bar. It's about location and how price reacts to important locations.

Also, don't beat yourself up after missing a setup. Many times we look back and say "man, I wish I would have caught that pin bar". Then you look again and the bar wasn't actually valid (like in the G/U pin from last week you mentioned). Our minds are trained to do these things. Just be patient and learn to react to locations and valid bars... no need to complicate it more than that.

Just my 2 cents, I'm sure Mike and other seniors can articulate this much better.

Hope this helps yarin,

-- Danny
  • #77,857
  • Oct 19, 2010 4:05pm Oct 19, 2010 4:05pm
The usd bulls just woke up and are very hungry Anyone watching Aud/Cad? .... BEOB & strong res at 1.00 BRN. Some very strong moves occured today but this one is on the radar for tomorrow

Cheers guys
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  • #77,858
  • Oct 19, 2010 4:08pm Oct 19, 2010 4:08pm
Great post old friend.

Quoting unlv_tj
damn!! Well, let me start off with my dad's baseball story. Personally i hated baseball, and don't watch it today at all. I played basketball, but as i get older, sports are less and less important, i would rather have enough money to have a family someday. I guess if i could go on 4 or 5 hours of sleep like you guys, i would have more time for it.

My dad played juco baseball in iowa back in the early 1970's. Back in those days, juco was the stud level, and d1 was the guys the majors were not interested in. Juco is where the majors sent their...
  • #77,859
  • Oct 19, 2010 4:16pm Oct 19, 2010 4:16pm
Looks Like a real Pin bar with Fib 50% ret !
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Anything can happen - You never know
  • #77,860
  • Oct 19, 2010 4:42pm Oct 19, 2010 4:42pm
Quoting Pinbar
I think the randomness is starting to fade a little.

Pick a pair and work on the story folks, it is great self help.

EDIT: And to think on the Monthly it is just this little range.
Hi Pinbar,

I went through your Monthly PPZ Chart and found it quite interesting. However, I have noticed that the IB's you mentioned as price action are actually Sunday Bar's, which IBFX have on their platform, which I think should not be considered as buy/sell trigger.

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
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