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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

  • #78,221
  • Oct 23, 2010 9:51pm Oct 23, 2010 9:51pm
Quoting dmc
Hey Ghous,

Where is the video you mention in the PF? Is it a weekly webinar. I watch / attend most webinars ..just making sure i didn't miss this one.
Mike's section ---> Beginner Q&A subsection ---> Video Q&A thread ---> post 122 (Qs) and post 124 (Mike's gold nugget)

g.
I believe . . .
  • #78,222
  • Oct 23, 2010 9:55pm Oct 23, 2010 9:55pm
Quoting ^eagle^
Hello,
I have been trading for about two years....
hey Eagle, Feel yourself at home and take your time to absorb the information contained in the thread. Do not hesitate one bit to shoot anything that bugs you at all.

Welcome aboard.

g.
I believe . . .
  • #78,223
  • Oct 23, 2010 9:57pm Oct 23, 2010 9:57pm
Here is the link to Mike's IPB video.
Only members can view this.

http://www.james16group.us/forums/sh...&postcount=124
  • #78,224
  • Oct 23, 2010 10:02pm Oct 23, 2010 10:02pm
Quoting kwikwis
Hey Ghous!

This IPB on weekly (FXCM feed) E/U has BRN and FIB retrace,

do we need more PA on daily or just enter Monday at close of the bar with stop above the high and target at low of IPB ?
Thank you!
Attachment
Hey Kwi,

I'd first of all second S chaos's suggestion to stay away from trading IPBs until you get a good hang of the basics,

But just to answer the question,

The weekly IPB does look good for sure. It's not at a true swing high (the prior bar marked the swing high) but it's right off the 1.4 which is providing all the resistance. Furthermore there is some genuine fib confluence in this region which makes it even more interesting.

It could be a fair play perhaps with a stop above the prior bar's high instead of a conventional one X pips above the IPB.

I'll be watching this like a hawk.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 35 KB
I believe . . .
  • #78,225
  • Oct 23, 2010 10:59pm Oct 23, 2010 10:59pm
Quoting ghous
Hey Kwi,

I'd first of all second S chaos's suggestion to stay away from trading IPBs until you get a good hang of the basics,

But just to answer the question,

The weekly IPB does look good for sure. It's not at a true swing high (the prior bar marked the swing high) but it's right off the 1.4 which is providing all the resistance. Furthermore there is some genuine fib confluence in this region which makes it even more interesting.

It could be a fair play perhaps with a stop above the prior bar's high instead of a conventional one X pips...
Thanks for your answer!
but same question though are going to look for PA at lower time frames or enter from weekly's close?
Anything can happen - You never know
  • #78,226
  • Oct 23, 2010 11:38pm Oct 23, 2010 11:38pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
hope ghoust can share some step by step write up guidance on how to trade these dangerous IPBs.... a video would be great.
I have seen the enemy, and it is me.
  • #78,227
  • Oct 24, 2010 12:03am Oct 24, 2010 12:03am
Quoting ghous
nothing big...as yet.

just a first degree in business administration.

g.
Oh!! great !! Means, MBA (Master in Business administration) ? Is it after 4/3 year degree course?.
  • #78,228
  • Edited 5:33am Oct 24, 2010 12:14am | Edited 5:33am
Quoting Pinbar
Here is the link to Mike's IPB video.
Only members can view this.

http://www.james16group.us/forums/sh...&postcount=124
Seniors,
For those of us who cannot afford the membership yet, can anything be kindly done for us regarding this very important video on IPB? IPB is observed to be such powerful and regular as the other PA bars but rather a bit harder to understand but if understood would definitely boost ones arsenal. Many of us have been studying hard on this and this video may just be that much needed cane to break the Carmel. I plead that this video be kindly made available through J16 PF Guest Videos channel. Thank you so much!!!
  • #78,229
  • Edited 5:37am Oct 24, 2010 12:42am | Edited 5:37am
Hi Guys,

I have been reading this thread for a month now. The first thing that I do with my charts is plot Monthly, Weekly and Daily PPZ Levels. I am trying to do the same for EU.

I understand that PPZ is more of a range where it has acted as S/R in the past. But for simplicity, I have drawn them as single lines on my charts as of now.

Can someone please confirm whether the PPZ levels that I have mentioned for EU below are valid / good / bad?

Monthly - 1.01, 1.07, 1.19, 1.25

Weekly - 1.2875, 1.39.

Also 1.18 and 1.24. But I chose not to draw 1.18 and 1.24 as 1.19 and 1.25 were already covered in the Monthly Chart. Shall I still draw them?

Daily - 1.215, 1.35, 1.38 (Weekly has 1.39), 1.33, 1.45, 1.4950 - this one acted as resistance on a number of occassions but not as support. So is 1.4950 a valid PPZ? If yes, a Good or Poor PPZ?

I have ignored 1.29 as a Daily PPZ since 1.2875 is there in the weekly chart.

I might be asking a lot. But I wish to know which of the above PPZ levels I mentioned are valid, good and poor PPZ. Also, have I missed any good PPZ on EU?

Also, I feel my chart is getting cluttered after so many levels.

0908
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EU - Monthly.JPG Size: 112 KB
Click to Enlarge Name: EU - Daily.JPG Size: 112 KB
  • #78,230
  • Oct 24, 2010 3:22am Oct 24, 2010 3:22am
Quoting jarroo

One reason, I believe, that the 4 hour BEOB worked out so poorly was that the previous Daily bar closed above the 113.00. . . because of this, the 113.00 was now a Support level and the 4 Hour BEOB was fighting this . . it didn't have the strength, due to size or stronger close itself, etc., to override this higher time frame level.

Jim

Indeed, a plausible 'reason' why it ended up bullish Jaroo but I think had anyone set a buffer of as low as even 5 pips would have kept him away from a trade of the 4H BEOB. Tells us how important a buffer level is to confirm the bearishness/bullishness of a PA, doesn't it?
  • #78,231
  • Edited 4:19am Oct 24, 2010 3:53am | Edited 4:19am
Quoting Pinbar
Thanks for the encouragement ATC.

I am just trying to get this down so that hopefully, one day, it will be like riding a bicycle. I am sure we all remember how hard that was to learn and how we soon forgot about how hard it was.

Despite the obstacles ahead of us, the biggest one is ourselves.
But we shouldn't let that deter us.
Hey PB, inspired by your learning and progress I decided to spend more time with practicing the basics like spotting S/R, watching how price behaves there etc. You just mentioned that you practice finding higher time frame PPZs (e.g. weekly & monthly) on lower TF (e.g. daily) lately. Could you explain this process a bit? Do you spot obvious highs and lows on lower TF and compare them to PPZ on higher TF or is there more to it?
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,232
  • Oct 24, 2010 5:07am Oct 24, 2010 5:07am
Quoting HanSolo
Hey PB, inspired by your learning and progress I decided to spend more time with practicing the basics like spotting S/R, watching how price behaves there etc. You just mentioned that you practice finding higher time frame PPZs (e.g. weekly & monthly) on lower TF (e.g. daily) lately. Could you explain this process a bit? Do you spot obvious highs and lows on lower TF and compare them to PPZ on higher TF or is there more to it?
Ok, open an EU pair on the monthly, sit back in the chair, move a few feet away from the screen and stare at it for 5 mins.
Then put a Single purple line on it at a monthly PPZ that is relevant to where price is, I mean the nearest monthly PPZ to price.
Post the chart and I will post mine. We can compare our charts and discuss them, yours may well be better than mine, so I may learn something.



I am staring. LoL

What constructive fun.


EDIT: Mine is on.
Don't rush though....take your time HS. Imagine this is like your life line while you are mountain climbing.

PS: Make sure you start from the top of the screen and drag the line down, till you find your spot.
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  • #78,233
  • Oct 24, 2010 5:26am Oct 24, 2010 5:26am
Quoting Pinbar
Ok, open an EU pair on the monthly, sit back in the chair, move a few feet away from the screen and stare at it for 5 mins.
Then put a Single purple line on it at a monthly PPZ that is relevant to where price is, I mean the nearest monthly PPZ to price.
Post the chart and I will post mine. We can compare our charts and discuss them, yours may well be better than mine, so I may learn something.



I am staring. LoL

What constructive fun.


EDIT: Mine is on.
Don't rush though....take your time HS. Imagine this is like your life line while you are...
So, here is mine...

I marked some major and minor spots where price was rejected by the PPZ (=support/resistance). After I put the line on the chart I also found it to be near the VBRN 1.4000. For me it is the most relevant monthly PPZ because price is likely to show some bearish reaction underneath this month.

What do you think? Where did you put yours?

Wooow, that is fun.
Attached Image (click to enlarge)
Click to Enlarge Name: 101024_02.jpg Size: 170 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,234
  • Oct 24, 2010 5:31am Oct 24, 2010 5:31am
Quoting Pinbar
Ok, open an EU pair on the monthly, sit back in the chair, move a few feet away from the screen and stare at it for 5 mins.
Then put a Single purple line on it at a monthly PPZ that is relevant to where price is, I mean the nearest monthly PPZ to price.
Post the chart and I will post mine. We can compare our charts and discuss them, yours may well be better than mine, so I may learn something.



I am staring. LoL

What constructive fun.


EDIT: Mine is on.
Don't rush though....take your time HS. Imagine this is like your life line while...

PB, Can you please reply to my post ?? It is #78231. I had a question similar to HanSolo - on EU PPZs - monthly, weekly and daily.

Thanks in Advance
0908
  • #78,235
  • Oct 24, 2010 5:36am Oct 24, 2010 5:36am
Quoting HanSolo
So, here is mine...

I marked some major and minor spots where price was rejected by the PPZ (=support/resistance). After I put the line on the chart I also found it to be near the VBRN 1.4000. For me it is the most relevant monthly PPZ because price is likely to show some bearish reaction underneath this month.

What do you think? Where did you put yours?

Wooow, that is fun.

Looks good HS.

I put mine at the 1.4200 rn

Ok, now let's switch the chart to a daily chart and post it to see where we are. EDTI: Changed the background color.
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  • #78,236
  • Oct 24, 2010 5:38am Oct 24, 2010 5:38am
Quoting Pinbar
Looks good HS.

I put mine at the 1.4200 rn

Ok, now let's switch the chart to a daily chart and post it to see where we are.
and mine is yet different
but yes I'm playing to see if a little different approach would work for me or not..
  • #78,237
  • Oct 24, 2010 5:40am Oct 24, 2010 5:40am
Quoting Adilius07
and mine is yet different
but yes I'm playing to see if a little different approach would work for me or not..

You have to post a chart to play. LoL

The more the merrier.
  • #78,238
  • Oct 24, 2010 5:44am Oct 24, 2010 5:44am
Quoting forex0908
PB, Can you please reply to my post ?? It is #78231. I had a question similar to HanSolo - on EU PPZs - monthly, weekly and daily.

Thanks in Advance
0908

Well, we are doing EU right now.
So, if you watch, we can all work it out.

Please remember no two people will draw these exactly the same.


HS and Adi,,,,,waiting for HS's daily chart and Adi's monthly.
  • #78,239
  • Oct 24, 2010 5:49am Oct 24, 2010 5:49am
Quoting Pinbar
Ok, now let's switch the chart to a daily chart and post it to see where we are.
I stuck two charts together to show some more reference points (S/R) in the past.

Quoting Pinbar
You have to post a chart to play. LoL

The more the merrier.
I would also love to see it.
Attached Image (click to enlarge)
Click to Enlarge Name: 101024_03.jpg Size: 72 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,240
  • Oct 24, 2010 5:51am Oct 24, 2010 5:51am
Quoting Pinbar
Ok, open an EU pair on the monthly, sit back in the chair, move a few feet away from the screen and stare at it for 5 mins.
Then put a Single purple line on it at a monthly PPZ that is relevant to where price is, I mean the nearest monthly PPZ to price.
Post the chart and I will post mine. We can compare our charts and discuss them, yours may well be better than mine, so I may learn something.



I am staring. LoL

What constructive fun.


EDIT: Mine is on.
Don't rush though....take your time HS. Imagine this is like your life line while you are...
HS I want learn this with you as well, please do let me join...below is my own chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 49 KB
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