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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

  • #78,021
  • Oct 20, 2010 10:11pm Oct 20, 2010 10:11pm
Quoting Mist Gun
Thank you for the link, Jaroo.
I am reviewing it now.
Considering the daily trend, wouldn't it be dangerous to short?
I would say . . Yes . . it is dangerous to short . . I would also say its dangerous to go long as well.

I want to see a clear story of what Price is telling us at these strong levels. It could be as simple as . .Price returns to Support followed by big Bullish PA.
Indicators show the past. Price Action "Indicates" the future.
  • #78,022
  • Oct 20, 2010 10:15pm Oct 20, 2010 10:15pm
Quoting joelcf
This is one of the reasons I find BEOB/BUOB trades dicey. They can be great trades, but they are often directionless bars that dont tell us enough. I want a bar with a wide range that represents the transfer of power from one side to the other.

Unless they have some kind of kickass closing momentum they often just lead to people getting trapped buying at the high or selling at the low of a trading range.

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I hear you Joel..

Suppose we could look at this whole area as a large PPZ, also.
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  • #78,023
  • Oct 20, 2010 10:15pm Oct 20, 2010 10:15pm
Quoting Pinbar
I still have yet to understand that, I still feel I am going backwards for some reason. Thanks for the kind encouragement though, these things help greatly in the struggle.

What I am practicing now, is only;y drawing the PPZ on the daily by spotting the weekly ones, and the sub levels. I am checking them on the weekly afterward and I seem to be able to get them.

It is interesting and seems to be how James is doing it.

One step at a time my friend . . . .soon it will all come togther. Keep at it, bro. . . your doing fine.
Indicators show the past. Price Action "Indicates" the future.
  • #78,024
  • Oct 20, 2010 10:20pm Oct 20, 2010 10:20pm
Quoting squeezy
while in Rac's cave 2 days ago , i saw him take a couple of trades ..... this is one i liked cos of the reward, if we make it there
Hi Squeezy, nice trade you got there. But did you consider the bullish PB on daily tf when you took the trade?

Btw, i think AUDUSD is showing similar scenario on 4h but with kind of bullish 2 day PB on daily.
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  • #78,025
  • Oct 20, 2010 10:28pm Oct 20, 2010 10:28pm
Quoting Pinbar
Nice are of confluence with the 61.8, 50 fibo the BRN & weekly PPZ.

Looking at H4, I would like to see a nice PB with a long tail off of the 61.8 & the TL and closing below the BRN & the 150 EMA.

Damn Pb . . . .your 4 hour looks like a Rac chart . . .nice.

I like when the levels are clear and obvious as on the Daily, makes your 4 hour look stronger.
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Indicators show the past. Price Action "Indicates" the future.
  • #78,026
  • Oct 20, 2010 10:30pm Oct 20, 2010 10:30pm
Quoting Donkey
Based on the chart in the linked post, 1.3000 on AUDNZD looks like a nice area to watch for a reaction.

Wow . .that's freaking awsome D . . great charts brother.
Indicators show the past. Price Action "Indicates" the future.
  • #78,027
  • Oct 20, 2010 10:33pm Oct 20, 2010 10:33pm
Quoting Donkey
I agree. A strong close below 113 on the 4H would be nice. Either way, it looks like 113 is a PPZ to watch. I especially like the 150 ema in confluence almost to the pip with 113.

wow . . . you guys are on freaking roll.
Indicators show the past. Price Action "Indicates" the future.
  • #78,028
  • Oct 20, 2010 10:36pm Oct 20, 2010 10:36pm
Quoting jarroo
I would say . . Yes . . it is dangerous to short . . I would also say its dangerous to go long as well.

I want to see a clear story of what Price is telling us at these strong levels. It could be as simple as . .Price returns to Support followed by big Bullish PA.
I see. If a clear story for long is a big bullish PA at support, then for short, it would be a big bearish PA at resistance. Does all this happened at 0.7500? Or would another level be watched for short, e.g. 0.7550?

Also, assuming the short set up prevailed, does a short set up means that this would be a change in the daily trend to be down trend? Is it save to assume that?

Sorry for asking too many questions.
o que será, será
  • #78,029
  • Oct 20, 2010 10:46pm Oct 20, 2010 10:46pm
Quoting Atc
double triple bottom with div on daily waiting to trigger buy limit on retrace on 4H chart support ...will look for fta for profit and move stop to BE...if failure will cut losses by moving stop up based on PA
I understand you view Atc, but we still have to fight a strong move down. We can have this turning point (sup to res) work with the trend.

Its good to look at both sides of the equation.
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Indicators show the past. Price Action "Indicates" the future.
  • #78,030
  • Oct 20, 2010 10:47pm Oct 20, 2010 10:47pm
Quoting jarroo
Damn Pb . . . .your 4 hour looks like a Rac chart . . .nice.

I like when the levels are clear and obvious as on the Daily, makes your 4 hour look stronger.

Haa, wow, not that is a compliment. Not sure I am worthy of it yet.



I don't like how the pullback was not off of the TL, also the H4 BEOB seems a little too small.
Location seems good but the bar is so so.


I am going to wait for a pullback and decent sized PA or I am not in this one.

This current bar reminds me of the bars Jarroo showed me that straddle the PPZ.
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  • #78,031
  • Oct 20, 2010 10:57pm Oct 20, 2010 10:57pm
Quoting mbqb11
This 2 day pin would be at a direct swing high where we want to see them at swing lows that create space. We can use that information to know in this case we would be trading right into the last high and essentially right into trouble
Yes i can see that. I 'll be more careful next time.Thanks
But being at swing high and price broke trendline and retest, would you have consider shorting if there was PA?
  • #78,032
  • Oct 20, 2010 10:58pm Oct 20, 2010 10:58pm
Quoting mbqb11
Hey lee

I am trying to understand why you sold to give some feedback, but I have looked and can't find the reason. Care to expand?

Thanks
Mike
Step 1: I learned from these from Jame16:

http://cdn.forexfactory.com/attachme...2&d=1119049199

http://cdn.forexfactory.com/attachme...3&d=1119050754

Step 2: Therefore I have this: (It read: "Double Low Broken here" at the right of the image)
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Step 3: Then I have this plan:
From post 77820

There are two Supports I saw, S1 and S2.(I could be totally wrong, still new and learning). Since the double low bars(10/12, 10/13) was broken yesterday (10/18). I am seeing it will go south to test S2. Therefore I set my TP to S1, and plan to lock in half of the profit then let the 2nd half run with Trial Stop.

Does my analysis make sense at all?

http://cdn.forexfactory.com/attachme...7&d=1287506754

Step 4: At last I have this final question Post 77867:

It broke through S2 @ 127.76. My target is hit, I took the profit. Please some one tell me if I am thinking the right way or not. I don't know enough for the next move. I am thinking to wait to see if it can get to the previous low @126.64 on 5/25/2010. I have to see how it goes from there.

Please advise and would be greatly appreciated.


Thanks Mike, I really want to understand this concept of Double consecutive low bars concept right? If my steps still not clear to you. Can you forget about my thought and just illustrate the thought process for Double consecutive low bars - trend break out? from James16's post?

It is greatly appreciated.

P.S. This thread is growing like crazy, my learning process can't even close to catching up the posts. Jeez! I hope this post won't be buried by tomorrow morning(here is NY)
  • #78,033
  • Oct 20, 2010 11:01pm Oct 20, 2010 11:01pm
Quoting Pinbar
Haa, wow, not that is a compliment. Not sure I am worthy of it yet.



I don't like how the pullback was not off of the TL, also the H4 BEOB seems a little too small.
Location seems good but the bar is so so.


I am going to wait for a pullback and decent sized PA or I am not in this one.

This current bar reminds me of the bars Jarroo showed me that straddle the PPZ.

I like your pickiness Pb, . .just what the Rac-man would say. . .lol

You know I like those pinnish looking BEOB at a Resistance level . . . . its still early, let's see what london brings.
Indicators show the past. Price Action "Indicates" the future.
  • #78,034
  • Oct 20, 2010 11:02pm Oct 20, 2010 11:02pm
Hmmm, I may revise the above statement after I have seen it move lower and it closed below the 50.

Yes, Jarroo FO & LO is the place to make a decision.
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  • #78,035
  • Oct 20, 2010 11:05pm Oct 20, 2010 11:05pm
Quoting Pinbar
Hmmm, I may revise the above statement after I have seen it move lower and it closed below the 50.

Yes, Jarroo FO & LO is the place to make a decision.
Hi there,
Are you using MT4? can you share those locale timezone indicator on the bottom right of the image?
Thanks in advanced.
  • #78,036
  • Oct 20, 2010 11:14pm Oct 20, 2010 11:14pm
Jarroo, what is your opinion on the previous daily bar close?

Looks like a pretty strong bullish bar.


This is where I always confuse myself when looking at higher tf.
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  • #78,037
  • Oct 20, 2010 11:14pm Oct 20, 2010 11:14pm
Quoting leelar
Step 1: I learned from these from Jame16:





Step 2: Therefore I have this: (It read: "Double Low Broken here" at the right of the image)
Attachment

Step 3: Then I have this plan:
From post 77820

There are two Supports I saw, S1 and S2.(I could be totally wrong, still new and learning). Since the double low bars(10/12, 10/13) was broken yesterday (10/18). I am seeing it will go south to test S2. Therefore I set my TP to S1, and plan to lock in half...
Hey leelar

The way james uses multiple bar lows is to play a breakout of them. So if you notice on his charts he is selling right as they break. So your gbp/jpy worked out great but you just played it different then James. James would have sold right under those matching lows as a breakout continuation(so you put a sell stop under the two lows) and when they break your order would trigger.

This thread sure does grow fast

Mike
  • #78,038
  • Oct 20, 2010 11:15pm Oct 20, 2010 11:15pm
Quoting dk2007
Yes i can see that. I 'll be more careful next time.Thanks
But being at swing high and price broke trendline and retest, would you have consider shorting if there was PA?
Hey Dk

Not personally based on that. i don't really use trendlines as a stand alone confluence enough to just short on a break. Would need more to support it personally

Best
Mike
  • #78,039
  • Oct 20, 2010 11:21pm Oct 20, 2010 11:21pm
hey guys .. just checking in

im wondering if its worth creating a new J16 thread based on its original teachings .. there is just so much "other" stuff in here these days its barely resembling its original intention ...
  • #78,040
  • Edited Oct 21, 2010 12:45am Oct 20, 2010 11:23pm | Edited Oct 21, 2010 12:45am
Ok, folks.

Here are all my indicators and template in one place so that anyone can use them easily.

Put all the indicators in the Experts/Indicators directory and put the template in the templates directory and load it.

I shall also add this link to my signature so that anyone else who wants them, knows where to get them.


This is the chart, it will give you and also you will get prices on any fibos you draw EDTI: Both Black & White Charts
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