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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

  • #78,081
  • Oct 21, 2010 11:15am Oct 21, 2010 11:15am
sap on daily with a nice buob at a swing low.
check how nicely the stock found support at the 21 ema.
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meine augen sind die sterne
  • #78,082
  • Edited 11:41am Oct 21, 2010 11:40am | Edited 11:41am
No words will describe my appreciation to all James16 thread posters more so the seniors. I took a trade today using confluence. Although i dint take it on a break but after it retraced.
The rules i followed are:
1. Confluence
2. BEOB
3. Testing of the previous break.
4. Bearish trend
I dont know whether i have missed anything or my analysis is wrong.
I will appreciate your response.
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  • #78,083
  • Oct 21, 2010 11:41am Oct 21, 2010 11:41am
Quoting mbqb11
Yep this will help bring your confidence up in trading price bars. But take it a step further and for each of these setups, mark where price is likely to go and you will see another light come on. Then it's just a mater of being patient and staying picky

Good stuff han
Thank you very much, Mike. I feel like I have to go back to the basics. Watching to many pairs and trying to understand everything at once made me miss some great opportunities and slowed down my learning process.
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,084
  • Oct 21, 2010 11:43am Oct 21, 2010 11:43am
Quoting supermatt
here here. i barely even visit this thread anymore due to how off track its got.
I haven't been here at this thread for very long, so could some one explain what the difference is between the content of this thread in the early days and nowadays, is there such a big difference ? I thought this thread was all about PA patterns, PPZ's, S/R, confluence etc... ?
Pipcrawler
  • #78,085
  • Oct 21, 2010 11:48am Oct 21, 2010 11:48am
Quoting xmzhang
I haven't been here at this thread for very long, so could some one explain what the difference is between the content of this thread in the early days and nowadays, is there such a big difference ? I thought this thread was all about PA patterns, PPZ's, S/R, confluence etc... ?
It is zhang the thread just moves fast and is much larger then the old days

Do not fret my friend we have been doing our thing for a very long time
  • #78,086
  • Oct 21, 2010 11:49am Oct 21, 2010 11:49am
Quoting Edonya
No words will describe my appreciation to all James16 thread posters more so the seniors. I took a trade today using confluence. Although i dint take it on a break but after it retraced.
The rules i followed are:
1. Confluence
2. BEOB
3. Testing of the previous break.
4. Bearish trend
I dont know whether i have missed anything or my analysis is wrong.
I will appreciate your response.
Well done Edonya

i wish I had taken this one on the retrace also. This location was a great one we have been watching in here for awhile now. Retrace nailed it too

Best
Mike
  • #78,087
  • Oct 21, 2010 11:54am Oct 21, 2010 11:54am
Quoting mbqb11
Well done Edonya

i wish I had taken this one on the retrace also. This location was a great one we have been watching in here for awhile now. Retrace nailed it too

Best
Mike
Thanx alot
but i have one problem i dont know where to put my TP i just put an arbtrary one i.e. at 79.00 of which i dont know whether it is ok.
Thanks alot.
  • #78,088
  • Oct 21, 2010 12:07pm Oct 21, 2010 12:07pm
Quoting Edonya
Thanx alot
but i have one problem i dont know where to put my TP i just put an arbtrary one i.e. at 79.00 of which i dont know whether it is ok.
Thanks alot.
Hey Edonya

This will come with time what feels most comfortable for you. I am choosing a take profit at the last little PPZ buy area. I think we may even drift down to the last low with this one but b/c I won't be around for almost 10 hours I don't want to get caught in a situation where I have no time to manage it so I am leaving a flat take profit in. Now you got a better entry then me so this may factor in as well. You may decide to say go to b/e now(or take some off the table), and see if you can catch a real runner say down to that last low.
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  • #78,089
  • Oct 21, 2010 12:15pm Oct 21, 2010 12:15pm
Quoting Edonya
Thanx alot
but i have one problem i dont know where to put my TP i just put an arbtrary one i.e. at 79.00 of which i dont know whether it is ok.
Thanks alot.
The great thing about these setups is that they even often work out under suboptimal conditions. Like you see on the chart the price did what we would expect it to do: It broke the BEOB to the downside and reached the next PPZ (red rectangle). As you can see on my chart it still keeps going. Depending on market conditions and your trading style you could take it to BE as soon as it reaches this point. Though I think most of the advanced traders here are much more patient and confident with this than I am.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #78,090
  • Oct 21, 2010 12:40pm Oct 21, 2010 12:40pm
Quoting aserbfx
broke through the upper trend line. but retraced from the 90 eur. breakout on good volume signalizes strength and potential to continue. i would wait for a clear break of the 90 eur.
How you determine a clear break ?
  • #78,091
  • Oct 21, 2010 12:46pm Oct 21, 2010 12:46pm
Quoting john225
How you determine a clear break ?
price close at least 0.5% above the resistance.
meine augen sind die sterne
  • #78,092
  • Oct 21, 2010 1:11pm Oct 21, 2010 1:11pm
Quoting mbqb11
Yep this will help bring your confidence up in trading price bars. But take it a step further and for each of these setups, mark where price is likely to go and you will see another light come on.
This time I marked where price is likely to go (in my opinion; turquoise). Of course it is easier to see what price did with hindsight. But I begin to understand why Jim and other fellow traders don't even care too much about trendlines and stuff. Only one BEOB failed on this chart.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #78,093
  • Oct 21, 2010 1:12pm Oct 21, 2010 1:12pm
Quoting HanSolo
This time I marked where price is likely to go (turquoise). Of course it is easier to see what price did with hindsight. But I begin to understand why Jim and other fellow traders don't even care too much about trendlines and stuff. Only one BEOB failed on this chart.
Making me smile bud
  • #78,094
  • Oct 21, 2010 1:18pm Oct 21, 2010 1:18pm
Quoting HanSolo
The great thing about these setups is that they even often work out under suboptimal conditions. Like you see on the chart the price did what we would expect it to do: It broke the BEOB to the downside and reached the next PPZ (red rectangle). As you can see on my chart it still keeps going. Depending on market conditions and your trading style you could take it to BE as soon as it reaches this point. Though I think most of the advanced traders here are much more patient and confident with this than I am.

Thanks a lot for your explanation. I have already exited at 79.43. But i need to come up with a way of managing a trade as the seniors do.
I am still on the learning mode bro.
Regards.
  • #78,095
  • Oct 21, 2010 1:25pm Oct 21, 2010 1:25pm
Quoting aserbfx
sap on daily with a nice buob at a swing low.
check how nicely the stock found support at the 21 ema.
Doesn't look like a swing low from my perspective, actually. I can clearly say that is located on the swing high. I doubt that will work out properly, that setup. Any PPZ located underneath?
  • #78,096
  • Edited 2:30pm Oct 21, 2010 2:14pm | Edited 2:30pm
Quoting The Captain
Hey Guys,

Haven't posted in a while.. The james16 stuff is giving me new ideas to identify S&R areas that I use with my own style of trading. Really appreciate everyones posts. How about this one from an hour ago Jarroo.. I believe you guys call it the "Kaboom!" Location is everything. PA happens because of location.

Nice TL+50 fib - hard to go wrong.

Nice one Captain.

The Rac-man KaBoom setup is all about location, meaning multiple confluences lining up to a single point or, better said, a single area or zone .

I would say . .hard to go wrong with a Nice TL+50 Ret. or 61.8 Fib that lines up with a PPZ level or a BRN. The PPZ level or BRN acting as Support or acting as Resistance are the good locations and the added confluences makes it go . .KaBoom!

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Indicators show the past. Price Action "Indicates" the future.
  • #78,097
  • Oct 21, 2010 2:29pm Oct 21, 2010 2:29pm
Quoting pipmyride
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 ...

Quoting supermatt
here here. i barely even visit this thread anymore due to how off track its got.
We are still talking about PPZ levels . .Support/ Resistance levels . .Confluences . . Price Action confirmation .. .etc.

Is it the touch trade stuff??
Indicators show the past. Price Action "Indicates" the future.
  • #78,098
  • Oct 21, 2010 2:38pm Oct 21, 2010 2:38pm
Quoting HanSolo
This time I marked where price is likely to go (in my opinion; turquoise). Of course it is easier to see what price did with hindsight. But I begin to understand why Jim and other fellow traders don't even care too much about trendlines and stuff. Only one BEOB failed on this chart.
Great charts Hans . . everyone should do this exercise . .as Mike would say . . until their eyes bleed . .lol

Just a side note: I believe you meant to say . . 2 Hour PB on your Hourly chart , , and 8 Hour PB on your 4 Hour chart . . instead of 2 Day PB.
Indicators show the past. Price Action "Indicates" the future.
  • #78,099
  • Oct 21, 2010 3:10pm Oct 21, 2010 3:10pm
Quoting jarroo
We are still talking about PPZ levels . .Support/ Resistance levels . .Confluences . . Price Action confirmation .. .etc.

Is it the touch trade stuff??
I have read probably every post in this thread, or only skipped posts I didn't need to read (questions already answered, etc.).

And recently I see a lot of the same stuff. New posters asking the same questions (this is to be expected, welcome new guys), guys who have been around a while looking for help with their PPZ (Pinbar, great questions, great posts, Jarroo, great answers), and then maybe a touch trade discusion once every 5 pages.

Yes, this thread moves fast. It has been moving fast for the last 18 months or so. But the basics are still discussed here everyday, and building upon those basics is what it takes to be successful.
  • #78,100
  • Oct 21, 2010 3:14pm Oct 21, 2010 3:14pm
Quoting unlv_tj
I have read probably every post in this thread, or only skipped posts I didn't need to read (questions already answered, etc.).

And recently I see a lot of the same stuff....
couldn't agree more TJ

There are no big secrets out there, just a lot of repetition and experience that we gain over time
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