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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

  • #80,381
  • Nov 18, 2010 3:09pm Nov 18, 2010 3:09pm
Quoting ddinnov
Anyone watching GBP/AUD?

I drew a neckline for a reverse H&S at the beginning of the week which looks like it's flipped from resistance to support. I'd like to see today close as a PIN off the trendline and above the 1.6240 PPZ
wot TF is that bro??....1H?

jon
PATIENCE... DISCIPLINE
  • #80,382
  • Nov 18, 2010 3:44pm Nov 18, 2010 3:44pm
well it took 4 days but my e/j finally took profit 80% off the board and is trailing the remainder nicely. I tightened the stop after two days of range to the new support on the 4h and my patience paid off. time to look for another.
  • #80,383
  • Nov 18, 2010 4:10pm Nov 18, 2010 4:10pm
Quoting Jonnyislost

I'm afraid I will have to reject that gift. Pinbar is just too small for me to trade, despite the great location. Although it seems like there is a clear shot to 1.5960... if it were to break..
Good you rejected that (fake)present, that PB had to cope with that big BUOB just before.
Pipcrawler
  • #80,384
  • Nov 18, 2010 5:03pm Nov 18, 2010 5:03pm
http://i7.photobucket.com/albums/y28...hfjpyjames.jpg

Chf/jpy bounce back into main trend. we shall see
  • #80,385
  • Nov 18, 2010 6:43pm Nov 18, 2010 6:43pm
Helps a lot...

Thx Blue.

Quoting bluetrader
Hey Os,

EUR/CAD was an easy pass because of the weak close on my feed. It had a lot of things going for it, but the close is very important to me. (EDIT: This was not a BUOB because the low was higher than the previous bar's low.)

EUR/AUD was a great looking bar, however the trouble areas above gave this trade limited potential.

Neither have technically failed, so they can both go up... however the drawdown on them has been undesirable to say the least.

Hope this helps,

-- Danny
Trade Smart
  • #80,386
  • Nov 18, 2010 9:05pm Nov 18, 2010 9:05pm
I've started trading after a short break.

Its not easy to grasp james16 work in short while but I'm trying to as much as I can.

My last trade yesterday was NZD/USD:

I bought NZD/USD yesterday at 0.7713 (Now at 0.7771).

My reasons for buying NZD/USD are as below and I would love to hear comments on my decision.

- NZD/USD has bullish trend from last few days and it created HL.
- Daily candle closed bullish
- 0.7640 was HH on 14th Oct 2010 hence was likely to act as support.

I'm targeting for 0.7950 with 70 pips trailing stoploss.

Ciao.
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  • #80,387
  • Nov 18, 2010 10:13pm Nov 18, 2010 10:13pm
Quoting forex_fan
I've started trading after a short break.

Its not easy to grasp james16 work in short while but I'm trying to as much as I can.

My last trade yesterday was NZD/USD:

I bought NZD/USD yesterday at 0.7713 (Now at 0.7771).

My reasons for buying NZD/USD are as below and I would love to hear comments on my decision.

- NZD/USD has bullish trend from last few days and it created HL.
- Daily candle closed bullish
- 0.7640 was HH on 14th Oct 2010 hence was likely to act as support.

I'm targeting for 0.7950 with 70 pips trailing stoploss.

Ciao....
Might be an idea to watch out for the weekly PPZ there as, it is Friday and a lot of people will be taking profit.
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  • #80,388
  • Nov 18, 2010 11:40pm Nov 18, 2010 11:40pm
I hold on my order for many hours(lol).and i think i have missed the TP position at 83.68(the 23% Fib),. BUT i think if the price can not drop to 83.00 or 82.80. it will go to 84.80. what are your ideas?

and pinba, is it more difficult to trade on monday and friday ???
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A chart helps those who can read it.
  • #80,389
  • Nov 18, 2010 11:51pm Nov 18, 2010 11:51pm
Quoting geniusztc
I hold on my order for many hours(lol).and i think i have missed the TP position at 83.68(the 23% Fib),. BUT i think if the price can not drop to 83.00 or 82.80. it will go to 84.80. what are your ideas?

and pinba, is it more difficult to trade on monday and friday ???


Sorry, I can't see any PA setup there and do not know why you took a trade.

Mondays usually seem slow and Friday people seem to close orders.

Better ask Jarroo about trading days.


EDIT: The 61.8 fibo, the ppz and the RN may have something to do with it.


PS: It may be an idea to describe what PA and on what time frame you took a trade or, I doubt anyone will be able to comment.
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  • #80,390
  • Nov 19, 2010 12:19am Nov 19, 2010 12:19am
Is this method working on DowJones and NYSE too or is it easier to trade only currency pairs?
  • #80,391
  • Nov 19, 2010 12:21am Nov 19, 2010 12:21am
Quoting bertie123
Jarroo

Do you ever plot PPZs in between BRNs or do you always try to align them with BRNs? Eg would you lok to plot a ppz at 15750 or fine tune them at 15500 and 16000?

thanks

Hey bertie, long time no see brother.

Yes, I will plot PPZ levels other then the BRN or RN, but I will also note where the BRNs are located inrelation to these non-BRNs PPZ levels. Most of the time, strong PPZ levels are at BRNs . .(or are BRNs at PPZ levels. lol )

The levels have to be very clear and obvious. Remember, how a bar closes can determine if it qualifies as Support or Resistance.


Take the Eur/Aud for example.

The 1.4050 makes much more sense to me than the 1.4000, but I won't ignore the 1.4000.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,392
  • Nov 19, 2010 12:24am Nov 19, 2010 12:24am
Quoting Pinbar
Sorry, I can't see any PA setup there and do not know why you took a trade.

Mondays usually seem slow and Friday people seem to close orders.

Better ask Jarroo about trading days.


EDIT: The 61.8 fibo, the ppz and the RN may have something to do with it.


PS: It may be an idea to describe what PA and on what time frame you took a trade or, I doubt anyone will be able to comment.
i am sorry for forget giving my setup reason.lol. i am really sorry for i do not follow your advice (do not look the h1).i find PA on h1,and i am looking for TP position at higher TF.i know it is very very wrong .but i can not control myself. and i just find that in the lower TF,we can observe the market more deeply ,i mean we can more exactly know the S&R positions . i am not sure ,just a newbie's idea.
A chart helps those who can read it.
  • #80,393
  • Nov 19, 2010 12:43am Nov 19, 2010 12:43am
Quoting mbqb11
Where is our man Dan


Quoting Jonnyislost
Oh, another profitable I4B at a BRN

Nice find! I haven't trained my eyes to see these things yet

I was thinking that was going to fall . . . .there I go thinking again . . .
Indicators show the past. Price Action "Indicates" the future.
  • #80,394
  • Nov 19, 2010 12:51am Nov 19, 2010 12:51am
Quoting Pinbar
Jarroo, I have never seen PPZ explained as you explain them, even in the PF.

I imagine this is something that you worked out yourself, what a great discovery and how freely you share it with us.

You are a very good man indeed Jarroo.

No, it wasn't something I worked out . .James16 worked it out for us way before me.

Thanks . Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #80,395
  • Nov 19, 2010 1:11am Nov 19, 2010 1:11am
Watching . .
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Indicators show the past. Price Action "Indicates" the future.
  • #80,396
  • Nov 19, 2010 1:19am Nov 19, 2010 1:19am
Quoting cprao
PB, you are 100% correct on Jarroo. Jarroo is not only a great teacher but also very very helpful person..



Thx bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #80,397
  • Nov 19, 2010 1:29am Nov 19, 2010 1:29am
Quoting Dan Gilbert
Price found support on last year's high price, printed a mediocre pin, but I decided to place my initial stop near the open of the signal price action bar, and bought before the break of the signal bar.

Moved stop to B/E before I went to bed, and took full profit @ 0.77782 monthly PPZ back in '07/'08.

A good 1:2 RISK:REWARD trade put a bit more than 2% in my live account, and put me back in the green for November.

Looking forward to taking December off completely

Classic . . .nice.
Indicators show the past. Price Action "Indicates" the future.
  • #80,398
  • Nov 19, 2010 1:38am Nov 19, 2010 1:38am
Quoting jarroo
Watching . .
hello, Jarroo. i just find that you and some other ones seem prefer to trade the cross pairs (just like eurcad),but in my platform there are always big spread on the cross pairs (eurcad have 15pips spread）. is there any advantages on cross pairs ??
A chart helps those who can read it.
  • #80,399
  • Nov 19, 2010 1:44am Nov 19, 2010 1:44am
Quoting geniusztc
hello, Jarroo. i just find that you and some other ones seem prefer to trade the cross pairs (just like eurcad),but in my platform there are always big spread on the cross pairs (eurcad have 15pips spread）. is there any advantages on cross pairs ??

You need to get yourself another broker . . check out the broker's discussion in FF.

I don't think there are any advantages . .a charts is a chart to me . . some crosses can be very choppy.
Indicators show the past. Price Action "Indicates" the future.
  • #80,400
  • Nov 19, 2010 1:52am Nov 19, 2010 1:52am
Quoting jarroo
No, it wasn't something I worked out . .James16 worked it out for us way before me.

Thanks . Pb.


That's funny, I have been through the entire forum, watched every video there is, but I have never seen Jim or anyone else for that matter, explaining the PPZ as you did.

I have seen seeking light doing something similar but somehow it was more general.
Maybe that is why I could understand it, the way you explained it.
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