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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

  • #79,341
  • Edited 4:09am Nov 5, 2010 3:53am | Edited 4:09am
Quoting Adilius07
Yes, the default MACD shows incorrect div too! Remember I noticed it, I checked with my TOS (standard parameters) and Netdania web charts (standard parameters) both showed good Div when my default Mt4 Macd would not show it!!!

Perhaps you are overly concerned with this, I mean, Mike and the big guy use it.

Can't be that bad.
  • #79,342
  • Nov 5, 2010 4:15am Nov 5, 2010 4:15am
Quoting nasir.khan
I told ya people.

Whats next?
Break out and retest maybe...
.
here is the next prediction....

Just kidding

It's justonly a zone to watch out near NFP.
.
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  • #79,343
  • Nov 5, 2010 4:16am Nov 5, 2010 4:16am
Quoting Be Cool
Thanks Jaroo
So in your opinion the 0.7600 level is a stronger PPZ than 0.7650? I am new to this - still learning to plot PPZ correctly. Maybe if you could give a few tips how to draw PPZ correctly


Have you watched the intro to pivot zones in the free guest area.

http://www.james16group.us/Guests/guestmaterial.html
  • #79,344
  • Nov 5, 2010 4:29am Nov 5, 2010 4:29am
Quoting Pinbar
Perhaps you are overly concerned with this, I mean, Mike and the big guy use it.

Can't be that bad.
Sometimes is exactly as with the TOS and Netdania, sometimes very different...
  • #79,345
  • Nov 5, 2010 4:31am Nov 5, 2010 4:31am
Quoting Pinbar
Have you watched the intro to pivot zones in the free guest area.

http://www.james16group.us/Guests/guestmaterial.html
PB i think (just a request not an order) u should save all the posts between you and Jarroo regarding drawing PPZ's, ZIP them in a folder, and whenever a new guy ask for help about drawing the PPZ's,....(Pull the trigger)

(i mean send him the file. lol)
.
  • #79,346
  • Nov 5, 2010 4:38am Nov 5, 2010 4:38am
I just realized that my demo account expired while I had my XAG on. JUst opened a new one and see that silver shot up almost two dollars. I would be running my remainder still right now with a very nice profit. Damn!
  • #79,347
  • Nov 5, 2010 5:14am Nov 5, 2010 5:14am
Took this trade off the rejection of the 1.3750 PPZ with some divergence.

Managing it tightly with a limit just above the 1.3500 and moved to BE at the moment.
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  • #79,348
  • Nov 5, 2010 5:22am Nov 5, 2010 5:22am
Quoting nasir.khan
PB i think (just a request not an order) u should save all the posts between you and Jarroo regarding drawing PPZ's, ZIP them in a folder, and whenever a new guy ask for help about drawing the PPZ's,....(Pull the trigger)

(i mean send him the file. lol)
.


Good Idea Nasir.

Maybe with Jarroo's stuff anyway.

Maybe I will do this at the weekend and ask Jarroo to check it before linking it up in my signature or something.

I am keen to do this as I remember the trouble I went through with the birdcages, I used to draw.
  • #79,349
  • Nov 5, 2010 5:30am Nov 5, 2010 5:30am
Quoting jarroo
That PB hit its target dead on, previous bar Highs and Lows are still what we look for even in consolidation.

What consolidation provides are clear levels of Supprt and Resistance at the borders on these ranging areas. James16 even talks about how he likes trading PA within these defined levels of consolidation because .. well . .they're so defined. Clear and well defined levels means strength to me.

The main target(s) would be the 1.4200 or the Highest highs of the consolidation. But the previous Highs/Lows should not be ignored and should...
Awesome, thanks. As long as im on the right track. Only been at it for 6 months so im still trying to make my trading plan as solid as possible.

I knew it wasnt an 'A' trade, but it did jump out at me since it was at the bottom of a tight range. Also, the fact that there was a massive downtrend on the monthly might not have helped, although i thought i could try it since momentum had slowed on the weekly and was beginning to range.
  • #79,350
  • Nov 5, 2010 5:53am Nov 5, 2010 5:53am
E/G
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  • #79,351
  • Edited 6:53am Nov 5, 2010 6:21am | Edited 6:53am
Quoting spookie94
Tell me should I be consentrating more on the quality of the setup and not so much on the SL?
Yes, absolutely . .concentrating of high quality setups will make the S/L an after thought . . well almost . .lol Especially if your going for that first target.


Quoting spookie94
this goes back to my question: Whats the difference between a full bar loss and a full risk loss if both are based on the same risk percentage? Isn't one just more pips than the other but the $ loss is equal.
Yes the risk percentage is the same whether its 30 pips or 100 pips.

Remember this discussion started on a different style of trade that I take on occasion. Mainly looking for a hard, robust break on a given setup. I expect this setup to break with no draw down so if any occurrs I begin to question my selection of the setup.

I don't trade all setups this way.

Quoting spookie94
Is this also true with setting your SL? Man I'm bugging the hell out of you tonight
Yes the same TF that the setup was presented goes for PPZ levels, Confluences, Targets, S/L, etc.

No bother at all, spook-man.
Indicators show the past. Price Action "Indicates" the future.
  • #79,352
  • Nov 5, 2010 6:24am Nov 5, 2010 6:24am
Quoting supremeChaos
sure, set your SLs & targets on the same timeframe that u are trading.


the trick is to concentrate on trading well (picking good setups, being patient/disciplined, managing trades well, etc) than making money.

this explains the saying which goes like 'focus on trading well & the money will just come'

Yes sir . . . thanks SChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #79,353
  • Nov 5, 2010 6:39am Nov 5, 2010 6:39am
hi, i took this trade with a very conservative target below RN, since i had to be away for a few minutes. a winner, but too much money left on the table.
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  • #79,354
  • Edited 6:54am Nov 5, 2010 6:42am | Edited 6:54am
Quoting Be Cool
Thanks Jaroo
So in your opinion the 0.7600 level is a stronger PPZ than 0.7650? I am new to this - still learning to plot PPZ correctly. Maybe if you could give a few tips how to draw PPZ correctly

Pb's post of the James16 video on PPZ levels is very good. Also search out this thread by using the "Serach this Thread" tool and you'll find alot of discussions and examples.


I like using the Weekly TF to find the obvious and clear PPZ levels. On the Nzd/Chf Weekly, the .7600 it is soooo obvious and clear it jumps out at you. (Weekly chart)


Looks like your Daily PB hit its target, previous bar Low . . You can see why it did . .it was off the .7600 Weekly/Daily PPZ level. Also if the PB closed below the .7600 would have been a stronger setup. You see why right? It would have been below the .7600.


Also check out this link to this post and Chart. I believe this is the main focus of what James16 teaches . .you'll hear him mention this in his PPZ level guest video.

http://www.forexfactory.com/showpost...ostcount=76471
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Indicators show the past. Price Action "Indicates" the future.
  • #79,355
  • Nov 5, 2010 6:51am Nov 5, 2010 6:51am
Quoting slade1986
Took this trade off the rejection of the 1.3750 PPZ with some divergence.

Managing it tightly with a limit just above the 1.3500 and moved to BE at the moment.
me too, this was an IB false break out trade.
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Seek not to change the world; seek only to change your mind about the world
  • #79,356
  • Nov 5, 2010 6:56am Nov 5, 2010 6:56am
Quoting Pinbar
Good Idea Nasir.

Maybe with Jarroo's stuff anyway.

Maybe I will do this at the weekend and ask Jarroo to check it before linking it up in my signature or something.

I am keen to do this as I remember the trouble I went through with the birdcages, I used to draw.

No problem at all Pb ..
Indicators show the past. Price Action "Indicates" the future.
  • #79,357
  • Nov 5, 2010 6:59am Nov 5, 2010 6:59am
Quoting dcart
Awesome, thanks. As long as im on the right track. Only been at it for 6 months so im still trying to make my trading plan as solid as possible.

I knew it wasnt an 'A' trade, but it did jump out at me since it was at the bottom of a tight range. Also, the fact that there was a massive downtrend on the monthly might not have helped, although i thought i could try it since momentum had slowed on the weekly and was beginning to range.

PA setups in consolidation can be very predictable when they are well defined. Maybe its because the market is usually in a consolidation period 70% of the time. . .lol

Good eye that it stood out to you . . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,358
  • Nov 5, 2010 7:09am Nov 5, 2010 7:09am
Quoting slade1986
Took this trade off the rejection of the 1.3750 PPZ with some divergence.

Managing it tightly with a limit just above the 1.3500 and moved to BE at the moment.

I like this one slade . .I would be looking to hang on to this one if Price can break through the 1.3500 . . .nice.
Indicators show the past. Price Action "Indicates" the future.
  • #79,359
  • Nov 5, 2010 7:45am Nov 5, 2010 7:45am
Christmas comes early than expected

Finally volatility shows up across the markets
  • #79,360
  • Edited 8:43pm Nov 5, 2010 8:01am | Edited 8:43pm
Ok, Please remember folks that, I am a newbie like most of you.

I had a terrible time drawing PPZ in the beginning and this exercise helped me a great deal.

These PPZ will not be perfect and I am sure the seniors can find a few that may be a bit off. That said, it may help some people who are really stuck and that is the spirit in which I did these charts.

Hope this helps at least one person.


Here you go.

And once you get the basics down and your eye trained, you can do them like Jarroo. Link to Jarroo's PPZ explanation, study Jarroo's stuff till you go blind! http://www.forexfactory.com/showpost...ostcount=79379




And make sure you check out the PIVOT ZONES video here. http://www.james16group.us/Guests/guestmaterial.html
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