james16 Chart Thread | Page 3995 | 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

  • #79,881
  • Nov 12, 2010 11:04am Nov 12, 2010 11:04am
Quoting mbqb11
I actually liked the second BEOB better based on the fact that this one at least could close below the parity level and coming into a friday where retracements of the current trend(profit taking) and riding those that get caught up can often see some more selling. So in a sense you are correct. multiple beobs like that in a row are signaling selling pressure, the key though is What else is going on around it, and is that alone worth to sell. The answer can be both yes and no. Then you move onto well where should price likely go, how am I going to...
Sorry for the double posting guys, I saw the post after I made the other comments.

This is what I was thinking also, that this one closed below the area(parity) that you said the first BEOB couldn't. And since there are two of them in a row, wouldn't this increase the probability.

But the thing is, all of you guys are correct in that I should learn to recognize S&R areas and PPZ before I trade because it seems to me as I always short into support and buy into resistance.

So there's some learning to me. It's just that right now in the beginning.. I seem to see S&R and PPZ everywhere!!

Thanks Mike for your advice and all the other guys (SC + Pinbar). Have a great weekend all of you!!
  • #79,882
  • Nov 12, 2010 11:06am Nov 12, 2010 11:06am
Quoting Carnegie
Sorry for the double posting guys, I saw the post after I made the other comments.

This is what I was thinking also, that this one closed below the area(parity) that you said the first BEOB couldn't. And since there are two of them in a row, wouldn't this increase the probability.

But the thing is, all of you guys are correct in that I should learn to recognize S&R areas and PPZ before I trade because it seems to me as I always short into support and buy into resistance.

So there's some learning to me. It's just that right now in the beginning.....
Very Natural

As you work through this thread(huge I know) you will see so many have the same concerns, worries, overwhelmed feelings. But it gets easier and easier with time. I think one can speed up parts of the learning curve, but some parts you just need to spend time with and sometimes a lot of time with. But let your passion for the markets drive you

Best
Mike
  • #79,883
  • Nov 12, 2010 2:23pm Nov 12, 2010 2:23pm
Hi,

I wrote a post here a few days ago, but got no reply.. Anyway, the post was about me asking if someone would help to code a pin bar indicator, since I find none of the existing truly perfect.

If someone has a good pin bar indicator, which finds only those bars that meet strict criteria and also sends mail alerts, please post it here.

It might have already been posted but it's hard to search in this huge thread.

Thank you.
  • #79,884
  • Nov 12, 2010 4:44pm Nov 12, 2010 4:44pm
Quoting mbqb11
Hey Leelar

You can ignore news, a lot of us do. I do personally. But many integrate the knowledge here into their knowledge of fundies and other things they have accumulated. I always say use something if it adds value, if it isn't get rid of it

Best
mike
Thanks a lot, Mike, you have been great help!
  • #79,885
  • Nov 12, 2010 4:47pm Nov 12, 2010 4:47pm
Quoting bee24
Hi,

I wrote a post here a few days ago, but got no reply.. Anyway, the post was about me asking if someone would help to code a pin bar indicator, since I find none of the existing truly perfect.

If someone has a good pin bar indicator, which finds only those bars that meet strict criteria and also sends mail alerts, please post it here.

It might have already been posted but it's hard to search in this huge thread.

Thank you.
Please refer to post #73746 by JDL....hope this helps
  • #79,886
  • Nov 12, 2010 5:29pm Nov 12, 2010 5:29pm
Quoting geniusztc
hello，Pinba..where can i get james's videos ?? you know ,i am from china ,and because some reasons of law ,i can not open some websites in china. can you give me resourses. thank you

Well, you can view this site and I could also view the J16 private forum while I was in Harubin last year.

Here is the link to the guest material on the J16 PF, this link is also on the page about PPZ, with the link in my signature.


Hope you can view the site.

http://www.james16group.us/Guests/guestmaterial.html
  • #79,887
  • Nov 12, 2010 5:36pm Nov 12, 2010 5:36pm
Quoting Carnegie
Sorry for the double posting guys, I saw the post after I made the other comments.

This is what I was thinking also, that this one closed below the area(parity) that you said the first BEOB couldn't. And since there are two of them in a row, wouldn't this increase the probability.

But the thing is, all of you guys are correct in that I should learn to recognize S&R areas and PPZ before I trade because it seems to me as I always short into support and buy into resistance.

So there's some learning to me. It's just that right now in the beginning.....


IMHO, If you STOP and think about it, for a second, people have already told you why that second BEOB is not a good one to trade, even though it broke below the BRN.


Just because a bad setup sometimes makes price move 200 pips, does not mean we should learn to take bad setups.
Because, the next time we take one, it will turn into a viper and bite us in the butt.
  • #79,888
  • Nov 12, 2010 5:57pm Nov 12, 2010 5:57pm
Quoting Pinbar
IMHO, If you STOP and think about it, for a second, people have already told you why that second BEOB is not a good one to trade, even though it broke below the BRN.


Just because a bad setup sometimes makes price move 200 pips, does not mean we should learn to take bad setups.
Because, the next time we take one, it will turn into a viper and bite us in the butt.
Pinbar my friend. I already KNOW that it isn't a good trade, what I was looking to see is how you THINK about these trades when making two in a row.
And by asking, I learned that if I were in that trade, I should hold on to it but be caucious because it's coming down to a S/R area.

Really I'm only here to learn, and maybe the fact is that I'm a slow learner and things don't hit home as fast as it does with you guys.
So that's why I ask alot of questions.

Time to sleep for me. Have allot of questions to ask tomorrow
Have a great weekend all you guys!
  • #79,889
  • Nov 12, 2010 6:03pm Nov 12, 2010 6:03pm
Quoting Carnegie
Pinbar my friend. I already KNOW that it isn't a good trade, what I was looking to see is how you THINK about these trades when making two in a row.
And by asking, I learned that if I were in that trade, I should hold on to it but be caucious because it's coming down to a S/R area.

Really I'm only here to learn, and maybe the fact is that I'm a slow learner and things don't hit home as fast as it does with you guys.
So that's why I ask alot of questions.

Time to sleep for me. Have allot of questions to ask tomorrow
Have a great weekend all...


Well, that is the point isn't it.

Why concern yourself with "What IF I was in this trade B- trade" you shouldn't be in that trade in the first place. I think that is what Mike & SC are trying to get you to understand.

If you fix these sub standard PA setups in your mind, you will see more and more of them and miss the good ones. Just look for the A setups.



Hey, I know how you feel, I have been doing this 7 days a week 12+ hours a day for a long time.


EDIT: I don't think you are a slow learner, either...It just takes time, we can not compress all this information into a time frame.

Also, THE PPZ ARE THE FOUNDATION OF PA, if you get the PPZ down, those lines will show you clearly the A setups.
  • #79,890
  • Nov 12, 2010 6:13pm Nov 12, 2010 6:13pm
Quoting Pinbar
Well, that is the point isn't it.

Why concern yourself with "What IF I was in this trade B- trade" you shouldn't be in that trade in the first place. I think that is what Mike & SC are trying to get you to understand.

If you fix these sub standard PA setups in your mind, you will see more and more of them and miss the good ones. Just look for the A setups.



Hey, I know how you feel, I have been doing this 7 days a week 12+ hours a day for a long time.


EDIT: I don't think you are a slow learner, either...It just takes time, we can...
Yeah that's true also Pinbar, but the main concern about this trade is something I haven't been really clear with asking. If you think about it, I'm not really asking about the bars (actually in the beginning I was).
It's rather about these PPZ areas and S&R that you guys talk about - and that I dont understand.

I have to admit that I don't really know allot about PPZ and S/R.
That's why my trades always look like the AUDUSD one. See where I am trying to get?
I always short into support and buy into resistance.. I tend to see S/R areas everywhere.

Look at the attached picture. Let's say I shorted at area A, it's a BEOB along with the trend (Never mind the setup, just couldn't get another good picture to show my point).

Where do I see S/R? Look at my lines.
There you see how I look at S/R and why it doesn't work for me, and I really don't know how to fix this, I really don't.
Which one of these areas shouldn't I pay attention to?
Which one of these should I pay attention to?
Which one should keep me out of taking that trade and which one would make me take the trade? There is S/R EVERYWHERE ON THE CHART!!

Thanks Pinbar.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 70 KB
  • #79,891
  • Nov 12, 2010 6:20pm Nov 12, 2010 6:20pm
Quoting Carnegie
Yeah that's true also Pinbar, but the main concern about this trade is something I haven't been really clear with asking. If you think about it, I'm not really asking about the bars (actually in the beginning I was).
It's rather about these PPZ areas and S&R that you guys talk about - and that I dont understand.

I have to admit that I don't really know allot about PPZ and S/R.
That's why my trades always look like the AUDUSD one. See where I am trying to get?
I always short into support and buy into resistance.. I tend to see S/R areas everywhere....

Ok, let me ask you this.

Have you watched that James 16 video about PPZ in the guest area, I recommend to everyone?

And, take those vertical lines off your chart, they will blind you.
  • #79,892
  • Nov 12, 2010 6:27pm Nov 12, 2010 6:27pm
Quoting Pinbar
Ok, let me ask you this.

Have you watched that James 16 video about PPZ in the guest area, I recommend to everyone?

And, take those vertical lines off your chart, they will blind you.
Yep I've watched that one! Hmmm when I think about it, do you think I should compress my chart like that?

No I don't use those lines, I just drew them to show YOU how I look at S/R. That's how I look at it.

Thanks.
  • #79,893
  • Edited 6:42pm Nov 12, 2010 6:31pm | Edited 6:42pm
Quoting Carnegie
Yep I've watched that one! Hmmm when I think about it, do you think I should compress my chart like that?

No I don't use those lines, I just drew them to show YOU how I look at S/R. That's how I look at it.

Thanks.

This is how I look at that setup.

Looks a bit clearer with no vertical lines on the chart, don't you think.
Attached Image (click to enlarge)
Click to Enlarge Name: plain.jpg Size: 120 KB
  • #79,894
  • Nov 12, 2010 6:40pm Nov 12, 2010 6:40pm
Quoting Pinbar
This is how I look at that setup.

Looks a bit clearer with no vertical lines on the chart, don't you think.
Wow that's not anywhere near as I see it. I see much more S/R.
How did you 'know' which ones to use and which ones to leave out?
That's the main issue for me, I cant' really choose which one of them is good so I just see a bunch of SR-areas everywhere and get stuck in a birdcage.

Thanks.
  • #79,895
  • Edited 7:21pm Nov 12, 2010 6:43pm | Edited 7:21pm
Quoting Carnegie
Wow that's not anywhere near as I see it. I see much more S/R.
How did you 'know' which ones to use and which ones to leave out?
That's the main issue for me, I cant' really choose which one of them is good so I just see a bunch of SR-areas everywhere and get stuck in a birdcage.

Thanks.

By drawing PPZ....That is why I am trying to get you to stay cool, and just work on the PPZ.

As, I mentioned above, PPZ ARE THE FOUNDATIONS OF PA.



Don't worry about it, I was MUCH WORSE at drawing PPZ than you are right now!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 216 KB
  • #79,896
  • Nov 12, 2010 6:49pm Nov 12, 2010 6:49pm
Quoting Pinbar
By drawing PPZ....That is why I am trying to get you to stay cool, and just work on the PPZ.

As, I mentioned above, PPZ ARE THE FOUNDATIONS OF PA.



Don't worry about it, I was MUCH WORSE at drawing PPZ than you are right now!!!!!
I think I'm starting to get to the point, but I'm nowhere near understanding it all. It's really time for me to sleep as it's 2AM here and I'm getting up in 5h.

Hopefully we can have this discussion tomorrow also but if not have a great weekend.
I will try my best on the PPZ and keep you guys informed on how it's going!

Thanks Pinbar, have a great weekend!
  • #79,897
  • Nov 12, 2010 6:50pm Nov 12, 2010 6:50pm
Quoting Carnegie
I think I'm starting to get to the point, but I'm nowhere near understanding it all. It's really time for me to sleep as it's 2AM here and I'm getting up in 5h.

Hopefully we can have this discussion tomorrow also but if not have a great weekend.
I will try my best on the PPZ and keep you guys informed on how it's going!

Thanks Pinbar, have a great weekend!

Yeah, it is 10 am here in Japan.

Just stay cool and work on the PPZ, it will slowly fall into place.


I have another 12 hour study day starting, thanks for helping me get started this morning.
  • #79,898
  • Nov 12, 2010 7:53pm Nov 12, 2010 7:53pm
Not out of the woods yet with AUD/NZD but, the close of the daily candle below this area is slightly encouraging.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 123 KB
  • #79,899
  • Nov 12, 2010 8:15pm Nov 12, 2010 8:15pm
Quoting cprao
I was watching this pair for the last few days.. for a Bullish PA at 1.37.. since 1.37 confluenced with
1)PPZ
2) Monthly BUOB retracement pt (Jarroo's secret weapon)
3) and obviously now becomes a Swing low for any bullish PA.

I guess finally BUOB is forming.. however..it all depends on how it closes at the end of the day..

Jarroo,

What do you think about this EURCAD BUOB bar at 1.3700 ?

Pros: With the trend
BUOB at 50% of the retracement
Rejected at PPZ - 1.37
1.37 concided with Monthly BUOB retracement level.

BUT the close of BUOB is NOT GOOD.. It may go .. but does not provide confidence of buying pressure...

Should be a pass..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Monthly-EURACD-BUOB-11-12-2010-Analysis.gif Size: 33 KB
Click to Enlarge Name: Daily-EURCAD-11-12-2010-BUB-Analysis.gif Size: 32 KB
  • #79,900
  • Nov 12, 2010 8:33pm Nov 12, 2010 8:33pm
Hey C.

Is that an FXDD feed?

On my IBFX demo it was not a BUEOB, but it was on my FXDD live account.
Attached Image (click to enlarge)
Click to Enlarge Name: ibfx.PNG Size: 22 KB
Attached Image
64 traders viewing now