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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

  • #80,401
  • Nov 19, 2010 1:52am Nov 19, 2010 1:52am
Quoting john225
Is this method working on DowJones and NYSE too or is it easier to trade only currency pairs?
It works on those just fine . .maybe better.

Quoting jarroo
This is what we look for is a A+ setup, in my book.

I'll take these all day long.

Its a BEOB not a Pin Bar but it looks like one . . .I love that.

Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.

I like it aserbfx . . .to say the least. . . .
Quoting jarroo
Interesting where Price was caught between on the DJIA30 through all of last week. Between the previous bar Low of the Weekly BEOB and the previous bar High of the Weekly DBLHC, which barely broke through.

More to upside this week on the DJIA30 if the Weekly DBLHC plays out and finds the 10500 to act as strong Support, breakout - pullback style.
Indicators show the past. Price Action "Indicates" the future.
  • #80,402
  • Nov 19, 2010 1:55am Nov 19, 2010 1:55am
Quoting Pinbar
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.

His guest video on PPZ levels talks about it. . . I guess I just talk about it more often.
Indicators show the past. Price Action "Indicates" the future.
  • #80,403
  • Nov 19, 2010 1:57am Nov 19, 2010 1:57am
Hi Jarroo, posted this while back but not sure if i'm being clear enough. Would be great to hear your view though if poss-

Hi i have a question for experienced traders regarding time shifting charts.

I have noticed (perhaps it is my imagination) that volatility seems to increase for a few seconds upon the hour (so when the minute hand reaches 12 and we start a new hour). Considering this -

Do you think that this is because most traders are looking at charts with bars that end on the hour so therefore it is sensible to think that a lot of trading decisions take part on the hour?

one more-

As an experiment do you think that working from an hourly chart where the bars started and finished at a quarter past the hour would lead to any difference in the quality of PA signals? (Its a given that the location in the overriding factor here). edit - just to add that i am talking about hourly bars here.

Thanks for a great thread.
  • #80,404
  • Nov 19, 2010 2:09am Nov 19, 2010 2:09am
Quoting Majestic12
Hi Jarroo, posted this while back but not sure if i'm being clear enough. Would be great to hear your view though if poss-

Hi i have a question for experienced traders regarding time shifting charts.

I have noticed (perhaps it is my imagination) that volatility seems to increase for a few seconds upon the hour (so when the minute hand reaches 12 and we start a new hour). Considering this -

Do you think that this is because most traders are looking at charts with bars that end on the hour so therefore it is sensible to think that a lot of...
Hey Majestic. Yeah, I saw your earlier post. I've noticed this too at the top of each hour, not all the time. I assume traders are looking at where Price closed in relation to PPZ levels . .I know I do.

My first thoughts are . .why make things complicated especailly on the Hourly. A clear, strong location with a clear, strong PA trigger doesn't care if its the top of the hour or not. Simplicity is the key here. . . strong Support . .strong bullish PA . .Clear target . .boom.

As an experiment . . I don't know how you would test it but give it a try.

Just some thoughts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #80,405
  • Nov 19, 2010 2:21am Nov 19, 2010 2:21am
Quoting ^eagle^
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.

Now that's some Big bar, PA confidence there Mr. Eagle . .
Indicators show the past. Price Action "Indicates" the future.
  • #80,406
  • Nov 19, 2010 3:03am Nov 19, 2010 3:03am
Quoting jarroo
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...
Hey Jarroo

Good to be back to THE PLACE! Thanks for your reply and chart on PPz - as always precise and to the point - you are a beacon for many of us man,

good trading

bertie
PA is where its at!!
  • #80,407
  • Nov 19, 2010 3:23am Nov 19, 2010 3:23am
NZDJPY broke weekly TL and daily range. Bullish PA on 4h breaking 65.00 and PPZ would be nice. Looking to the left we see a big range and some mess on weekly. Nevertheless, whenever price broke through the middle (65.00) it was often good for some nice upmoves. Something to beware of is the weekly 150EMA. It acted as resistance in the past.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #80,408
  • Edited 3:44am Nov 19, 2010 3:25am | Edited 3:44am
A question to the experienced traders: I sometimes see very hard breaks at confluence levels: BRN, TL, EMA etc. Am I right with my interpretation that when confluence is not so much a point of where things fall together accurately but stack up a few pips apart, order flow can create enormous momentum (since different traders each want to reach their levels and orders stack up on each other)? Or am I seeing things here?
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Thanks J16, Sam Seiden, Udine and Jacko
  • #80,409
  • Nov 19, 2010 4:13am Nov 19, 2010 4:13am
Quoting g_j_hook@yah
wot TF is that bro??....1H?

jon
Sorry for the late reply - it's the daily

Closed as bearish and not above the PPZ.
Anything can happen.
  • #80,410
  • Nov 19, 2010 4:35am Nov 19, 2010 4:35am

Wkly PB to left of arrow on first chart
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  • #80,411
  • Nov 19, 2010 4:54am Nov 19, 2010 4:54am
Quoting mbqb11
Hey Nuc

I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.

I think that is a recipe for a successful trade

This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.

Thanks for sharing
Mike
Hey Mike!
I must say that I´ve wanted to over-emphasize pickiness that I get used to it but I really felt deeply that there´s no space and I ignored the big picture like you said.. But I must also say that your post pushed me to the next level! I´m slowly starting to understand the story which is behind that PA and other situations.
Thank you,
Nuc
  • #80,412
  • Nov 19, 2010 5:14am Nov 19, 2010 5:14am
Look where price went...no surprise
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  • #80,413
  • Nov 19, 2010 5:36am Nov 19, 2010 5:36am
Are we gonna have a round of Where is price going this weekend.
I was dying to grasp some more knowledge of PPZ.
I am waiting for someone to throw a challenge.
Taz
  • #80,414
  • Nov 19, 2010 6:04am Nov 19, 2010 6:04am
Quoting g_j_hook@yah
wot TF is that bro??....1H?
hey Jon...
how's life & trading?
you're back but spending more time on Music Tennis thread, huh
  • #80,415
  • Nov 19, 2010 6:09am Nov 19, 2010 6:09am
Quoting jarroo
His guest video on PPZ levels talks about it. . . I guess I just talk about it more often.

Just watched that video again.

He talks about flips but nowhere does he mention the area of the breakout and pullback on a single candle, like we have been doing.

Maybe, it is just my interpretation of what you showed us is somehow different. Doesn't matter, as long as I understand it.

Thanks Jarroo.
  • #80,416
  • Nov 19, 2010 8:09am Nov 19, 2010 8:09am
Quoting supremeChaos
hey Jon...
how's life & trading?
you're back but spending more time on Music Tennis thread, huh
lol..i jus thought id call in, doing good. just saw that music tennis,lol, any excuse to get some neil young out there!
its good to see some ole timers still here giving your good advice as per..
j
PATIENCE... DISCIPLINE
  • #80,417
  • Nov 19, 2010 8:25am Nov 19, 2010 8:25am
Quoting jarroo
It works on those just fine . .maybe better.
Thanks. I read that S&P is difficult for new traders is the DowJones and NYSE so difficult like S&P too?
  • #80,418
  • Nov 19, 2010 8:28am Nov 19, 2010 8:28am
Quoting john225
Thanks. I read that S&P is difficult for new traders is the DowJones and NYSE so difficult like S&P too?
price action works in every market. just make sure you trade liquid (big)markets (and stocks).
meine augen sind die sterne
  • #80,419
  • Nov 19, 2010 8:40am Nov 19, 2010 8:40am
Quoting HanSolo
A question to the experienced traders: I sometimes see very hard breaks at confluence levels: BRN, TL, EMA etc. Am I right with my interpretation that when confluence is not so much a point of where things fall together accurately but stack up a few pips apart, order flow can create enormous momentum (since different traders each want to reach their levels and orders stack up on each other)? Or am I seeing things here?
Hey Han

I am not quite sure what you are asking if you could clarify.

Confluence is nothing more then multiple reasons to make an "area" important. Layers. This doesn't mean the market has to do one thing or another there. Just gives us areas/reasons to get into/stay out of trades.

I am not quite understanding the last part

Thanks
Mike
  • #80,420
  • Nov 19, 2010 8:54am Nov 19, 2010 8:54am
Quoting nuclear62
Hey Mike!
I must say that I´ve wanted to over-emphasize pickiness that I get used to it but I really felt deeply that there´s no space and I ignored the big picture like you said.. But I must also say that your post pushed me to the next level! I´m slowly starting to understand the story which is behind that PA and other situations.
Thank you,
Nuc
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