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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

  • #77,881
  • Oct 20, 2010 2:11am Oct 20, 2010 2:11am
Quoting jeffokes
Thank you soooo much Jarroo. I was patiently waiting for your reply and I can see you have really put in so much into it. Folks like you and the other seniors make this thread the best around with your kindness. May God reward you all with good amount of pips!!!

Thanks jeffokes . . .its what makes this thread . .as you said . .The Best ..
Indicators show the past. Price Action "Indicates" the future.
  • #77,882
  • Oct 20, 2010 2:31am Oct 20, 2010 2:31am
Good day all,
is there any difference between the PPZ and S/R?

How to calculate the PPZ?

Much luv
If you don't control your emotion it will control you.
  • #77,883
  • Oct 20, 2010 2:37am Oct 20, 2010 2:37am
Quoting mbqb11
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
Thanks Mike kudos to you.

so any price action formed in this kind of area are invalid?

Thanks

Much love
If you don't control your emotion it will control you.
  • #77,884
  • Oct 20, 2010 2:48am Oct 20, 2010 2:48am
@Mike take a look on this DBLHC is it trade able or not?
still in the same area but at the swing low.
waiting for your kind reply


Much love

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If you don't control your emotion it will control you.
  • #77,885
  • Oct 20, 2010 2:50am Oct 20, 2010 2:50am
Quoting Jonnyislost
Hi D, I think in general with this pattern (aud/jpy) I will wait for a breakout and retest of the box before making a trade. A pure break of the channel could be risky in my opinion and there have already been many spikes (false breakouts) in both directions. I think his could easily continue for several more days before the true breakout occurs. Ideally it will break to the upside, and it's with the near term trend, and also into more free space (see daily)
Well it looks like we finally had the true break, to the downside unfortunatly. Things seems to be setting up for a breakout/pullback stlye trade, but the picture is far from clear. Since there was no clearly defined lower bound to the channel, it's difficult to determine excatly how far the pullback is likely to reach. (anywhere between 79.40 and 80.00 the way I see it). Also taking a short now would mean trading into heavy traffic seen clearly on the daily.
All in all a bit of an anticlimax to this great channel
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  • #77,886
  • Oct 20, 2010 2:58am Oct 20, 2010 2:58am
Quoting emmy01
Good day all,
is there any difference between the PPZ and S/R?

How to calculate the PPZ?

Much luv
Emmy,
My understanding is that PPZ is a type of S&R. There are other types such as Fib Tool levels, the mathematically calculated floor traders pivots which of course has varieties around depending on the formula used, Trend lines are also a type of s&r as well as channel lines - there could be others. All of them work in one way or the other but imo PPZs constitute the most reliable as they are proven in the past wrt to where price is at a given moment. They are not calculated parse but identified by zooming out of your chat on a given tf. Please do visit j16 group and go through the videos and you will get once and for all. Go here:
http://www.james16group.us/Guests/guestmaterial.html

Cheers
  • #77,887
  • Oct 20, 2010 2:59am Oct 20, 2010 2:59am
Quoting emmy01
Hi all I have been on this forum reading the great stuff in here jim really change
my style of trading

[/IMG]Attachment

after some hours

Attachment


finally reach my target
Attachment

Thanks to jim
That was one fantastic trade, man!
  • #77,888
  • Edited 3:42am Oct 20, 2010 3:05am | Edited 3:42am
Quoting emmy01
Good day all,
is there any difference between the PPZ and S/R?

How to calculate the PPZ?

Much luv
The term PPZ is an area that has acted as both Support & Resistance.

I drew this only on the daily chart, just to give you an idea but, you may want to start on the monthly and work your way down to the daily or H4 time frame using different color lines, so that you remember the large time frame lines will be more solid.

Hope this helps.


Just a roughly drawn chart to give you the idea of what we are trying to do.
There may well be more PPZ not on these charts, I am just trying to show you what I mean.
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  • #77,889
  • Oct 20, 2010 3:10am Oct 20, 2010 3:10am
Quoting emmy01
Good day all,
is there any difference between the PPZ and S/R?

How to calculate the PPZ?

Much luv
Hi emmy, A PPZ is a specific level or zone that has proven to be both resistance and support in the past. The best way to find them is simply by studying charts and marking them off as you see them. it takes a lot of practice and screen time but eventually you will be able to see them without even thinking about it

Jonny
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  • #77,890
  • Oct 20, 2010 3:13am Oct 20, 2010 3:13am
Quoting Jonnyislost
Well it looks like we finally had the true break, to the downside unfortunatly. Things seems to be setting up for a breakout/pullback stlye trade, but the picture is far from clear. Since there was no clearly defined lower bound to the channel, it's difficult to determine excatly how far the pullback is likely to reach. (anywhere between 79.40 and 80.00 the way I see it). Also taking a short now would mean trading into heavy traffic seen clearly on the daily.
All in all a bit of an anticlimax to this great channel

Yes, I agree, it looks like shake & Bake time.

I suppose if we get a massive PA signal it may be ok, but I would have liked to see it take the path of least resistance, up.
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  • #77,891
  • Oct 20, 2010 3:16am Oct 20, 2010 3:16am
Quoting jarroo
I missed this post, Pb . . . I had a long weekend with family and friends.

Out chasing women again eh?

Good for you Jarroo.


Glad to hear you had fun.

I have been off line all afternoon after the phone company came and upgraded my 100 Mbps fiber optic connection to 200 Mbps.

So, I just saw your post with a sigh of relief.
  • #77,892
  • Oct 20, 2010 3:34am Oct 20, 2010 3:34am
This is a nice example of an pinbar that didn't work. Really nice tail and great location...

I hope there are not many of them...
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  • #77,893
  • Oct 20, 2010 3:53am Oct 20, 2010 3:53am
there were 2 oportunities yesterday. charts.
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  • #77,894
  • Oct 20, 2010 4:14am Oct 20, 2010 4:14am
I've been taking a look at the EURCAD is-it-or-is-it-not-a-set-up from time-to-time during the day and noticed this weirdness on smaller timeframes. This is the one-minute timeframe. Look at that solid floor of support. Is that a feed error or someone absolutely refusing to let the bears out the gate?

I'm a newbie, so don't laugh at me :-)

D
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  • #77,895
  • Oct 20, 2010 4:27am Oct 20, 2010 4:27am
Quoting dabbledave
I've been taking a look at the EURCAD is-it-or-is-it-not-a-set-up from time-to-time during the day and noticed this weirdness on smaller timeframes. This is the one-minute timeframe. Look at that solid floor of support. Is that a feed error or someone absolutely refusing to let the bears out the gate?

I'm a newbie, so don't laugh at me :-)

D
I think that is just a one minute phenomenon
  • #77,896
  • Oct 20, 2010 4:33am Oct 20, 2010 4:33am
Fewer bars obviously (4) but it's also showing flat line support on the M30 chart.

Is anyone else seeing this? Is this normal? Is it my feed?

I don't play with shorter timeframes. I've been just checking what's going on in response to yesterday's daily pin-like bar.

Quoting Adilius07
I think that is just a one minute phenomenon
  • #77,897
  • Oct 20, 2010 4:37am Oct 20, 2010 4:37am
Quoting dabbledave
Fewer bars obviously (4) but it's also showing flat line support on the M30 chart.

Is anyone else seeing this? Is this normal? Is it my feed?

I don't play with shorter timeframes. I've been just checking what's going on in response to yesterday's daily pin-like bar.

H1 tf on EUR/CAD gives a good hint at what a daily PB is made up of on lower time frames.

It's Jarroo with a beer going to a concert. LoL

Seriously though, notice how it is a H&S pattern.
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  • #77,898
  • Oct 20, 2010 4:39am Oct 20, 2010 4:39am
Quoting Chrisszz
This is a nice example of an pinbar that didn't work. Really nice tail and great location...

I hope there are not many of them...
Hey chris, My view on this its that it did work. And when I say it did work I mean, priced moved as far as you would expect under these conditions.
The bar is nice but this is only a part of what makes a great trade. Notice the massive resistance just above the bar (multiple bar lows). I think it would be ambitious to expect price to cut right through that area, no matter what PA suggests.
Just my thoughts, hope it helps a bit

Jonny
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  • #77,899
  • Oct 20, 2010 4:46am Oct 20, 2010 4:46am
Quoting Pinbar
Out chasing women again eh?

Good for you Jarroo.


Glad to hear you had fun.

I have been off line all afternoon after the phone company came and upgraded my 100 Mbps fiber optic connection to 200 Mbps.

So, I just saw your post with a sigh of relief.
Whoooh that's nice, the highest data rate we have here is about 120 Mbps.
Pipcrawler
  • #77,900
  • Oct 20, 2010 4:46am Oct 20, 2010 4:46am
Quoting Pinbar
Out.....
I have been off line all afternoon after the phone company came and upgraded my 100 Mbps fiber optic connection to 200 Mbps.
..

crap. what a blazing fast connection. (i remember u are in Japan)
how much is the monthly cost?
what do u need all that speed for?
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