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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

  • #79,421
  • Nov 7, 2010 1:50am Nov 7, 2010 1:50am
Quoting Pinbar
Hi, Adi

Well, these boxes are what make up the higher tf PPZ, it is the mechanics of it.

IMHO, the boxes of consolidation show us many important things, they show us where support and resistance is, they show us profit targets, they show us where to protect our SL..! It is everything we need in a box with wrapping paper! LoL
Hmm, I need to practice drawing them, still not really get it...
  • #79,422
  • Nov 7, 2010 1:51am Nov 7, 2010 1:51am
Quoting Pinbar
That is a hard one Ghous, so I am not holding my breathe on this one.


Here you go.
Anyone else wants to add/subtract something?

g.
I believe . . .
  • #79,423
  • Nov 7, 2010 1:54am Nov 7, 2010 1:54am
I would go fo this, according to my plan.
Of course I will be at BE soon after entry.
Just my view on it
EDIT: sorry actually it is the lower level there...(the lower of those two I draw, would be my target, lol)
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  • #79,424
  • Nov 7, 2010 2:05am Nov 7, 2010 2:05am
Pin Bar's bang on target!

Adilius your final TP is a pretty logical one, though of course we can't "bet" on such a long term take profit. I know you didn't which is great!

g.
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I believe . . .
  • #79,425
  • Nov 7, 2010 2:07am Nov 7, 2010 2:07am
Hey Ghous, would you kindly do us a Great favor and talk a bit about consolidation boxes?


Yummmmy Yummy.....
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  • #79,426
  • Nov 7, 2010 2:08am Nov 7, 2010 2:08am
Quoting ghous
Pin Bar's bang on target!

Adilius your final TP is a pretty logical one, though of course we can't "bet" on such a long term take profit. I know you didn't which is great!

g.
Ehh... I got BE
  • #79,427
  • Nov 7, 2010 2:12am Nov 7, 2010 2:12am
Quoting Pinbar
Hey Ghous, would you kindly do us a Great favor and talk a bit about consolidation boxes?


Yummmmy Yummy.....
umm...like my general view point on them and how I use them or you want something more specific?
I believe . . .
  • #79,428
  • Nov 7, 2010 2:16am Nov 7, 2010 2:16am
Quoting ghous
umm...like my general view point on them and how I use them or you want something more specific?

Yes, Ghous your viewpoint would be great...And maybe a bit about how they show us where to tuck our SL and make target areas etc.

Thanks Ghous.


EDIT: I mean like I did in this chart.

Not so detailed is fine though.
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  • #79,429
  • Nov 7, 2010 2:16am Nov 7, 2010 2:16am
Quoting Pinbar
Hey Ghous, would you kindly do us a Great favor and talk a bit about consolidation boxes?


Yummmmy Yummy.....
That would be fantastic really, I still don't get them...
  • #79,430
  • Nov 7, 2010 2:23am Nov 7, 2010 2:23am
I would love to but you'll have to give me sometime.

I am going into the 4-5 hours for which i wait an entire year. Its not related to Academics or trading.

I'll be right back after that and I'll remember to do a post or two.

g.
I believe . . .
  • #79,431
  • Nov 7, 2010 2:24am Nov 7, 2010 2:24am
Quoting ghous
I would love to but you'll have to give me sometime.

I am going into the 4-5 hours for which i wait an entire year. Its not related to Academics or trading.

I'll be right back after that and I'll remember to do a post or two.

g.


Festival eh....No problem Ghous...Thanks.


I will try and show Adi what I mean, in the meantime.
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  • #79,432
  • Nov 7, 2010 2:26am Nov 7, 2010 2:26am
Quoting Pinbar
Festival eh....No problem Ghous...Thanks.


I will try and show Adi what I mean, in the meantime.
...and you'll hit the nail on the head so hard I will have little to speak about after that.

But, yeah go on mate...

g.
I believe . . .
  • #79,433
  • Nov 7, 2010 2:29am Nov 7, 2010 2:29am
Quoting ghous
...and you'll hit the nail on the head so hard I will have little to speak about after that.

But, yeah go on mate...

g.


I am trying to hit the nail into my head...LoL

You will have plenty and plenty to speak about my friend and we are dying to hear it.
  • #79,434
  • Nov 7, 2010 2:33am Nov 7, 2010 2:33am
Adi, look at the top and bottom of the boxes and the PA there on the daily TF.
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  • #79,435
  • Nov 7, 2010 2:39am Nov 7, 2010 2:39am
Adi, you might say, Yeah, but that is just a PPZ...That is exactly what I said to myself previously. The thing is, the boxes of consolidation are what make up the PPZ.
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  • #79,436
  • Nov 7, 2010 2:48am Nov 7, 2010 2:48am
I am still trying to get this into my head on a permanent basis also, so this is great that we can learn this together.


And then, there are smaller boxes inside the larger ones. It is the same thing over and over again on any TF.

This is how the seniors are picking their trades, setting their SL and choosing their TP targets.
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  • #79,437
  • Nov 7, 2010 2:54am Nov 7, 2010 2:54am
Quoting Pinbar
Adi, you might say, Yeah, but that is just a PPZ...That is exactly what I said to myself previously. The thing is, the boxes of consolidation are what make up the PPZ.
Yes Pinbar thank you very much. I had a mentor beofre he also drew the boxes, he called them SD (supply and demand) and price when breaks out moves away from the box - supply overcoming demand or vice versa... He also had a PPZ but he put them at the fractal levels... so he had PPZ and SD...

Learning his material and this material. I see that PPZ really work most of the time... but this consolidation (although sometimes can really stop the price) other times would be just nailed though!

One example is a chart Mike showed a few days a go, where Pb formed on the lower boundary of the box (inside the box - so there is a high chance the price will reach upper boundary) - my conclusion is (and it was before I found this thread) that Price very often just ignore this consolidation and move easily through them IF the boundary is already taken (like the above example with PB).

So my point is, the box formes PPZ yes. But PPZ (which is the boundary of the box) is more important than consolidation itself... If setup is very strong and price takes out the boundary it should continue through the box until the next extreme of the box (next PPZ).

But of course it is not a 100% rule, many times we will not take a setup against the consolidation even if the boundary is broken due to lack of space.

This is my thinking, that's why I asked, because I see them posted a lot, so I thought there should be something I don't understand..

EDIT: I forgot the most important point, lol. I mean if box=ppz why to draw them at all? If the boundary is broken (PPZ has been overcome) we would expect price to continue through... So why draw them? We have to draw box, and line for PPZ - and we know PPZ is important and box is not.

Or maybe I'm confusing things...
  • #79,438
  • Nov 7, 2010 2:58am Nov 7, 2010 2:58am
Quoting Adilius07
Yes Pinbar thank you very much. I had a mentor beofre he also drew the boxes, he called them SD (supply and demand) and price when breaks out moves away from the box - supply overcoming demand or vice versa... He also had a PPZ but he put them at the fractal levels... so he had PPZ and SD...

Learning his material and this material. I see that PPZ really work most of the time... but this consolidation (although sometimes can really stop the price) other times would be just nailed though!

One example is a chart Mike showed a few days a go, where...


Exactly...........!

The boundaries are the PPZ the boxes inside them are S&R.


Maybe I am being zealous about this as I am trying hard to fix it into my trading like riding a bicycle, still got my stabilizers on.
  • #79,439
  • Nov 7, 2010 3:10am Nov 7, 2010 3:10am
"Learning his material and this material. I see that PPZ really work most of the time... but this consolidation (although sometimes can really stop the price) other times would be just nailed though!"
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This is the thing eh?

There is no perfect system and nothing is infallible, we only need a system that works more than it fails. IMHO, that is the rock bottom line.
If we look for a system that works 100% of the time, we will system hop as nothing works 100 % of the time.

This is a good point you mention and I have read a great about it in the psychological side of the PF.
  • #79,440
  • Nov 7, 2010 3:54am Nov 7, 2010 3:54am
Anyone taking the gbpchf daily pin of the 50% fib?
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