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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

  • #78,561
  • Oct 27, 2010 2:16am Oct 27, 2010 2:16am
Quoting mbqb11
yep remember from the big guy himself James says he doesn't care about trends. It's built into what we do when you think about it. Good bars at good locations and then where is price likely to go from there.

Mike

He doesn't care about Trends!!! Must have missed that.

I know the big guy is light years ahead of many of us but, Hey that still blows my mind and gives me a reserved seat ticket to the express train stopping at Confusion City Station.
  • #78,562
  • Oct 27, 2010 2:18am Oct 27, 2010 2:18am
Quoting squeezy
hey Supreme,
did u reverse ur initial long .......

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  • #78,563
  • Oct 27, 2010 2:38am Oct 27, 2010 2:38am
Quoting Pinbar
Well, so much for my theory about that monthly PPZ holding on EUR/GBP.

Back to the drawing board.

I guess that BEOB at the high combined with the MACD div was more than enough to see off that PPZ.

Hmmmmmmmmmmmm



Maybe Jarroo can throw some light on as to why that weekly support broke?
When a level shows promise of acting as strong Support (in this case) it does not take away the strength of that level just because Price cut through it. It still a strong level.

Price consolidated on the Daily Eur/Gbp, Price broke through it (Resistance) upward . .the top of this consolidation should now (usually) act as strong Support.


It is these levels we want to pay attention to.



other example Chp/Jpy. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #78,564
  • Oct 27, 2010 2:47am Oct 27, 2010 2:47am
Quoting supremeChaos
im sure ghous is gonna reply soon..
just wanna say that trends dont move in a straight line.
there are trends within trends.... price zigzagging up & down.
Quoting mbqb11
yep remember from the big guy himself James says he doesn't care about trends. It's built into what we do when you think about it. Good bars at good locations and then where is price likely to go from there.
Thanks for your help. But now I'm even more confused. It brings me back to this trade I was also considering. I know it's a BEOB not a PB. But apart from that, trend looks even weaker than on Ghous' trade. And with all that consolidation and some divergence also why wouldn't that be a reasonable trade? It probably is plain and simple and I don't see the wood for the trees, I guess.

Quoting Pinbar
Yeah, that sort of confuses me a little also as there is a flip area with TL confluence at 1.00350.

It seems I would have passed on this, yet Ghous just takes it and it goes the way he traded it. Great stuff and I am sure there is more to it.

Had I taken it, it would without doubt have gone North on me. http://cdn.forexfactory.com/images/s...m/blushing.gif
Yes PB, the flip area is another point plus price did not close below VBRN 1.0000.
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,565
  • Oct 27, 2010 2:50am Oct 27, 2010 2:50am
Quoting jarroo

other example Chp/Jpy. . .

Quoting Donkey
CHFJPY....nice Fib confluence at both the 83 and 81.5 area. Nice space as well. I don't like to be biased, but I'll be looking for some bullish PA on this pair next week for sure.

Opportunity to get in the current overall uptrend from May.
Donkey's chart on the Chf/Jpy showing a strong level at the 83.00, which I agreed with.

Quoting jarroo
I like it D.

The Weekly agrees with you . .Res turning into Sup.

Check out those weekly PB (in yellow) they couldn't even break with a close above the 83.00 . .83.00 is strong. . .then Price breaks through it. .should act as strong Support.
The 83.00 failed as strong Support I now look to see this act as strong Resistance . .the level is still strong

Anyone see an opportunity here? . . we'll let PA show us the way.
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Indicators show the past. Price Action "Indicates" the future.
  • #78,566
  • Oct 27, 2010 2:58am Oct 27, 2010 2:58am
Quoting raczekfx
I'm sending you another present (actually only a semi present - without commentaries )

Use it, abuse it.... DON"T ... lose it...
Rac shows us this strong level of Resistance at 10680. An opportunity for some Bearish PA . .Price breaks through it and acts as Support . .the level is still strong even if it fails as strong Resistance.
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Indicators show the past. Price Action "Indicates" the future.
  • #78,567
  • Edited 3:09am Oct 27, 2010 2:59am | Edited 3:09am
Quoting jarroo
When a level shows promise of acting as strong Support (in this case) it does not take away the strength of that level just because Price cut through it. It still a strong level.

Price consolidated on the Daily Eur/Gbp, Price broke through it (Resistance) upward . .the top of this consolidation should now (usually) act as strong Support.


It is these levels we want to pay attention to.



other example Chp/Jpy. . .






That is exactly what is confusing me, it didn't act as support.

I was asking if Jarroo new why it didn't act as support, I realize that price will not always behave as we expect at these areas so, I am really asking if, this was the exception rather than the rule. In other words, would Jarroo himself have expected this area to act as support or if you would have expected that bullish bar, (a PB on some feeds) would break right through it?

EDIT: I get the YMD setup, it conforms to our logic, EG did not conform to this same logic.
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  • #78,568
  • Oct 27, 2010 3:06am Oct 27, 2010 3:06am
Quoting Pinbar
That is exactly what is confusing me, it didn't act as support.

I was asking if Jarroo new why it didn't act as support, I realize that price will not always behave as we expect at these areas so, I am really asking if, this was the exception rather than the rule. In other words, would Jarroo himself would have expected this area to act as support or if you would have expected that bullish bar, (a PB on some feeds) would break right through it?

It was the expectation not the rule. When ever I see Price break through a strong Resistance level my expectation is that level will now act as strong Support. If this expectation is not met . .it will revert back to Resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #78,569
  • Oct 27, 2010 3:11am Oct 27, 2010 3:11am
Quoting jarroo
It was the expectation not the rule. When ever I see Price break through a strong Resistance level my expectation is that level will now act as strong Support. If this expectation is not met . .it will revert back to Resistance.

Ah, that is the answer I needed to hear.

So my thinking on that EG was not wrong? I don't care if my thinking is wrong, I can always correct that. I just needed to know if the scenario I was thinking about was barking up the wrong tree.

Thanks Jarroo.
  • #78,570
  • Oct 27, 2010 3:14am Oct 27, 2010 3:14am
Quoting mbqb11
One thing I personally do to get rid of some of the noise is stick to my analysis on one timeframe only. Evaluate and work off that. Like James does. It makes taking in all the information easier in my eyes.


Best
Mike
Not only easier on the eyes but the levels (PPZs, targets, etc.) on the same time frame that the setup was presented are truer and more reliable.
Indicators show the past. Price Action "Indicates" the future.
  • #78,571
  • Oct 27, 2010 3:21am Oct 27, 2010 3:21am
Quoting squeezy
glad u took some profit already so i can trade long in peace.

it would be hard for me to keep up with u, squeezy.
but i'll post these 'touch trades' just for today. (not watching tv/reading right now)

planning to take out some stops on the way up, if price moves further (1.58, 1.59 onwards).
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Quoting Pinbar
Ah, that is the answer I needed to hear.
So my thinking on that EG was not wrong?...
i think, it was more of incomplete, not encompassing the big picture. (explained at length by the seniors)
  • #78,572
  • Oct 27, 2010 3:25am Oct 27, 2010 3:25am
Quoting jarroo
Not only easier on the eyes but the levels (PPZs, targets, etc.) on the same time frame that the setup was presented are truer and more reliable.

I am thinking seriously about this, we don't see the Big guy looking the monthly & weekly in the videos, much.

Switching from monthly, weekly Di & H4 truly drives me mad.

I realize it is a lack of confidence in my analysis, Muhhhhhhhhhhaaaaaaa.

Sorry about that, I needed it.
  • #78,573
  • Oct 27, 2010 3:27am Oct 27, 2010 3:27am
Quoting Pinbar
I am thinking seriously about this, we don't see the Big guy looking the monthly & weekly in the videos, much.

Switching from monthly, weekly Di & H4 truly drives me mad.

I realize it is a lack of confidence in my analysis, Muhhhhhhhhhhaaaaaaa.

Sorry about that, I needed it.

Your right . .lol When James16 is discussing Daily setups, you never see him drop down to the 4 hour or hourly.
Indicators show the past. Price Action "Indicates" the future.
  • #78,574
  • Oct 27, 2010 3:33am Oct 27, 2010 3:33am
Quoting jarroo
Your right . .lol When James16 is discussing Daily setups, you never see him drop down to the 4 hour or hourly.

Yes...LoL

But as we know, he knows where the monthly & weekly PPZ are just from looking at the daily.

You would think he could make even a token effort, to make it look more difficult.

It reminds me when I was a kid and I would see a magic trick advertized on TV.. I would save up my pocket money and buy it, open the box and practice it.

I would show the trick to my friends thinking they would really be impressed.

A kid shouts, hey what is that string. Haaaaa
  • #78,575
  • Oct 27, 2010 3:35am Oct 27, 2010 3:35am
Quoting Pinbar
Yes...LoL

But as we know, he knows where the monthly & weekly PPZ are just from looking at the daily.

You would think he could make even a token effort, to make it look more difficult.

Its our job to make it more complicated then it really is . . .just kidding. lol
Indicators show the past. Price Action "Indicates" the future.
  • #78,576
  • Oct 27, 2010 3:44am Oct 27, 2010 3:44am
Quoting jarroo
Its our job to make it more complicated then it really is . . .just kidding. lol

Yes, I think you hit the nail on the head there Jarroo &, I think I am exceptional at doing it.
  • #78,577
  • Oct 27, 2010 3:46am Oct 27, 2010 3:46am
Quoting Pinbar
Yes, I think you hit the nail on the head there Jarroo &, I think I am exceptional at doing it.

That will change, Pb . .over time.

Gotta go

Later

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #78,578
  • Oct 27, 2010 3:48am Oct 27, 2010 3:48am
Quoting supremeChaos
glad u took some profit already so i can trade long in peace.

it would be hard for me to keep up with u, squeezy.
but i'll post these 'touch trades' just for today. (not watching tv/reading right now)

planning to take out some stops on the way up, if price moves further (1.58, 1.59 onwards).
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i think, it was more of incomplete, not encompassing the big picture. (explained at length by the seniors)
nice Supreme
its r flipping to s
now is it full reversal or just a small rxn to s before falling (hopefully it falls...lol)
good trading to u
Simplicity is the key to success
  • #78,579
  • Oct 27, 2010 4:17am Oct 27, 2010 4:17am
Quoting HanSolo
Thanks for your help. But now I'm even more confused. It brings me back to this trade I was also considering. I know it's a BEOB not a PB. But apart from that, trend looks even weaker than on Ghous' trade. And with all that consolidation and some divergence also why wouldn't that be a...

Well trend matters but it is in relation to what price has been doing. Eur/cad was trending VERY strong, and forms a small BEOB at a swing high. We must think QUICK to b/e if we dare try to pick a top with such a small bar with very little confluence. That is as deep an analysis I would take with such a bar / setup personally

Best
Mike
  • #78,580
  • Oct 27, 2010 4:47am Oct 27, 2010 4:47am
is it a good pinba on eu's 4h chart ???
anyone have any ideas ??? thank you
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