james16 Chart Thread | Page 3934 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #78,661
  • Oct 28, 2010 12:08am Oct 28, 2010 12:08am
Quoting xmzhang
Jarroo, just great to hear you saying this, that's also my thinking proces concerning S/R levels. I've this nice example on the lower TF of G-U of today. Refering to attachement and the RNB @ 15800:
A: resistance
B: expected resistance flips to expected support
C: expected support flips to expected resistance
D: expected resistance flips to expected support
E: expected support is now indeed support
Yes that's it, xmz.

Now look for them on the higher time frames and you can add zeros to your pip count.

I would refer to the 1.5800 as just a RN . .BRNs would be 1.6000, 1.5500, 1.5000, 1.4500, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #78,662
  • Oct 28, 2010 12:09am Oct 28, 2010 12:09am
Quoting supremeChaos
is that from IBFX Australia still?
mine has up to July1989 data for the monthly chart.

either scroll back (temporarily disable Auto-scroll feature) or adjust the settings at Tools > Options > Max Bars in Chart (under Charts tab)


***
btw, my charts dont have 'm' after the currency pair names (yours says 'GBPCHFm'; 'm' i think denotes Mini account)
try this.
press Ctrl + O , then under Servers tab, check the server u are using.
does it say "IBFX-MT4 Mini-1" or "Mini-2" etc?
im using 'IBFX-MT4-Demo1 Interbank FX, LLC'...

No, it is not the AU platform but it is a mini account.

This is what the server is set to.

Thanks SC.

Maybe, I should grab a regular account from IBFX.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 104 KB
  • #78,663
  • Oct 28, 2010 12:13am Oct 28, 2010 12:13am
Pinbar, I like what you did to my chart . .that's exactly what's its all about, to me.
Attached Image (click to enlarge)
Click to Enlarge Name: ym26aa.jpg Size: 158 KB
Indicators show the past. Price Action "Indicates" the future.
  • #78,664
  • Oct 28, 2010 12:19am Oct 28, 2010 12:19am
Quoting Pinbar
No, it is not the AU platform but it is a mini account.
This is what the server is set to.
...
hmmm..
same server but different data feed content.

try the other alternatives i've mentioned
& another one:
open another demo account. this time, on the 'Open an Account' dialog box, choose 'Standard' as account type, instead of 'Minis'.
  • #78,665
  • Oct 28, 2010 12:30am Oct 28, 2010 12:30am
Quoting supremeChaos
hmmm..
same server but different data feed content.

try the other alternatives i've mentioned
& another one:
open another demo account. this time, on the 'Open an Account' dialog box, choose 'Standard' as account type, instead of 'Minis'.

I opened a regular account.

Thanks for reminding me about this SC.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 80 KB
  • #78,666
  • Oct 28, 2010 12:32am Oct 28, 2010 12:32am
Quoting jarroo
Pinbar, I like what you did to my chart . .that's exactly what's its all about, to me.

Thanks Jarroo, I think a little bit of it is sinking into this thick Skull.
  • #78,667
  • Edited 10:12pm Oct 28, 2010 12:46am | Edited 10:12pm
Quoting HanSolo
As I said in my preceding post spotting relevant trends for J16 trading is giving me a bit of a headache. Here is an example I found somehow challenging: monthly, weekly and daily EURJPY. Going through it step by step made it much clearer, still I would love to hear your guys opinion on my analysis. Thank you very much!



Great, thank you Ghous! All the best for your exam.

Have a nice day
Hans

Nice charts Hans . .

Consolidation areas are great to find these important PPZ level and how the tend to build off one another.

I like your bullish or bearish PA strategies on your charts. If either is presented, bullish or bearish PA, they would be well supported.

Currently the Eur/Jpy is a bit choppy. Using your Weekly charts should prove more telling when PA shows itself.
Attached Image (click to enlarge)
Click to Enlarge Name: ejj2888888.jpg Size: 94 KB
Indicators show the past. Price Action "Indicates" the future.
  • #78,668
  • Oct 28, 2010 12:51am Oct 28, 2010 12:51am
Quoting Pinbar
Thanks Jarroo, I think a little bit of it is sinking into this thick Skull.
It will sink in.

We understand what PPZ levels are . .the next step (as I see them) is how the PPZ level is currently acting as when Price reaches them. .meaning Price approaches a strong PPZ level . .is the level acting as Support or Resistance??

If its acting as a Support level to Price, then Bullish PA is what we look for . .if Price breaks through that Support level . .than will it now act as Resistance?? Bearish PA would be the play.
Indicators show the past. Price Action "Indicates" the future.
  • #78,669
  • Oct 28, 2010 1:00am Oct 28, 2010 1:00am
Quoting jarroo
Donkey's chart on the Chf/Jpy showing a strong level at the 83.00, which I agreed with.



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.

Just an update.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfjpy26.jpg Size: 97 KB
Click to Enlarge Name: chfjpy28.jpg Size: 100 KB
Indicators show the past. Price Action "Indicates" the future.
  • #78,670
  • Oct 28, 2010 1:57am Oct 28, 2010 1:57am
Quoting ghous
No question ever is a stupid one so keep em' comin'!
Thanks, Ghous. I will do.

Quoting jarroo
Nice charts Hans . .http://cdn.forexfactory.com/images/s...m/thumbsup.gif

Consolidation areas are great to find these important PPZ level and how the tend to build off of one another.

I like your bullish or bearish PA strategies on your charts. If either is presented, bullish or bearish PA, they would be well supported.

Currently the Eur/Jpy is a bit choppy. Using your Weekly charts should prove more telling when PA shows itself.
Thank you, Jarroo. It helps me a lot to analyze the charts step by step. This often answers the question I had in mind.

I don't know why, but somehow I like these choppy charts when backtesting. They often give you very nice PPZs and the chance to watch PA's magic unfold. This may change as soon as I catch my first big trend trade on a live account that pays my rent.
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,671
  • Oct 28, 2010 2:48am Oct 28, 2010 2:48am
Quoting NosferatuMan
Hi gang,

Havenīt been posting lately but here are a couple of charts.

Iīm on this BEOB on H4 GBPJPY. Initial stop above BEOB but moved it just above the next bar after an expected reaction around 128.50. Expecting a test of that area again and, if possible a break to the downside. Could look better, though.

The second one is GBPAUD H8 and I think we have a bit of space to the downside.

EDIT: forgot to say that this second BEB is off a good daily ppz.

Any comments would be very much appreciated.

Nos

GBPJPY did OK.

Still on GBPAUD.


Nos
Attached Image (click to enlarge)
Click to Enlarge Name: Capturar.PNG Size: 63 KB
  • #78,672
  • Edited 3:44am Oct 28, 2010 2:48am | Edited 3:44am
I am watching that NZD/USD Daily PB but on the M30 tf.

I am only watching the M30 because it is a faster TF, ppzs are ppzs on any tf.


It is interesting how the M30 candle just closed above the 365 but is still below the BRN.


EDIT: M5 gives us a slightly clearer picture of where the PPZ got polarized from resistance to support, shows us the mechanics of it.

Now I know why Jarroo previously mentioned he will sometimes look at a small tf to get a clearer picture of how price reacted to a PPZ.

Really interesting once we grasp the concept Jarroo has been showing of the ppz then S&R on both sides of alternating between the two.



And indeed what the Big Man was showing on M5 in that chat session.

Just goes to show, when you are really confused, just don't worry about it, keep at it and file even the things we don't understand in a drawer in our minds, till we do understand it. Great stuff Jarroo.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 128 KB
Click to Enlarge Name: pic5.jpg Size: 206 KB
Click to Enlarge Name: 4.jpg Size: 124 KB
  • #78,673
  • Oct 28, 2010 3:21am Oct 28, 2010 3:21am
gbp/nzd first Tp hit. 80% off the the table. Letting it ride and looking for a new trade.
  • #78,674
  • Oct 28, 2010 3:45am Oct 28, 2010 3:45am
EDIT:
Now, I understand the comment someone made the other day, about, "Just because price violates a strong PPZ it does not mean that the PPZ has become weak".

It is the strength or weakness of the buyers at a PPZ that determine this and not the PPZ.


LIGHT goes on in head.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 43 KB
Attached Image
  • #78,675
  • Oct 28, 2010 3:45am Oct 28, 2010 3:45am
Quoting ^eagle^
gbp/nzd first Tp hit. 80% off the the table. Letting it ride and looking for a new trade.
that was so interesting.
Congrate man.
A little beginner trader since 2006
  • #78,676
  • Oct 28, 2010 3:53am Oct 28, 2010 3:53am
Hi there,

I just started reading the thread and I am of the opinion that it is a very valuable thread so I will read the entire one.

However, just in the beginning, I stumbled upon a couple of things that were confusing to me and hopefully someone can answer them.

The 'two consecutive matching highs/lows'.. aren't they just tweezers tops/bottoms? And if so, aren't they a REVERSING patter rather than a continuation?

maybe there is some post on how to trade this with retracements + sl + tp or anything..

thanks!
  • #78,677
  • Oct 28, 2010 4:10am Oct 28, 2010 4:10am
Quoting Carnegie
Hi there,

I just started reading the thread and I am of the opinion that it is a very valuable thread so I will read the entire one.

However, just in the beginning, I stumbled upon a couple of things that were confusing to me and hopefully someone can answer them.

The 'two consecutive matching highs/lows'.. aren't they just tweezers tops/bottoms? And if so, aren't they a REVERSING patter rather than a continuation?

maybe there is some post on how to trade this with retracements + sl + tp or anything..

thanks!

I think you are referring to DBHLC & DBLHC.

These are indeed a reversing pattern.

Not sure whether tweezers tops have to have a lower close.
  • #78,678
  • Oct 28, 2010 4:17am Oct 28, 2010 4:17am
Quoting Pinbar
I think you are referring to DBHLC & DBLHC.

These are indeed a reversing pattern.

Not sure whether tweezers tops have to have a lower close.
Thanks for the respond pinbar!

I'm referring to the 'two consecutive lows' that are in the first page of this thread. There are two consecutive lows after a downtrend (so it's following a trend) but where should one put entry, sl etc?
What I've read it is a reversing pattern, called Tweezers (in Nisons book).

Man, this was harder than I thought!!
  • #78,679
  • Oct 28, 2010 4:18am Oct 28, 2010 4:18am
Quoting jarroo
Yes that's it, xmz.

Now look for them on the higher time frames and you can add zeros to your pip count.

I would refer to the 1.5800 as just a RN . .BRNs would be 1.6000, 1.5500, 1.5000, 1.4500, etc.
Pipcrawler
  • #78,680
  • Oct 28, 2010 4:22am Oct 28, 2010 4:22am
Quoting Carnegie
Thanks for the respond pinbar!

I'm referring to the 'two consecutive lows' that are in the first page of this thread. There are two lows after a downtrend (so it's following a trend) but where should one put entry, sl etc?
What I've read it is a reversing pattern, called Tweezers (in Nisons book).

Man, this was harder than I thought!!
Oh, sorry... You are talking about the breakout strategy James16 mentions.


I wouldn't bother with that just for now, the PBs, BEOB, BUOBS, IBs DBHLC DBLHC etc are the main Price action Bars & probably more frequent.
75 traders viewing now