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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

  • #80,961
  • Nov 27, 2010 4:24am Nov 27, 2010 4:24am
Here is one for you...
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Thanks J16, Sam Seiden, Udine and Jacko
  • #80,962
  • Nov 27, 2010 5:05am Nov 27, 2010 5:05am
Quoting HanSolo
Here is one for you...
Here is my take. I like the size of this one, so I think it's got a potential...
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  • #80,963
  • Nov 27, 2010 5:26am Nov 27, 2010 5:26am
Maybe something like this. There is a lot of resistance above and probably fibo confluence with possibly a RN.

The close being below that PPZ is a bad sign. to me IMHO.
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  • #80,964
  • Nov 27, 2010 5:40am Nov 27, 2010 5:40am
Quoting HanSolo
Great one. This reminds me of the Jesse Livermore quote: "We get paid to wait."



It did not close below the former high. So according to Jarroo we would ask: Will it act as support? It's very likely I think. I've marked three TAs, right in order of my expectation: The highest being the most likely for me and the lowest being the most unlikely.
Btw, HanSolo, how do you make those arrows in MT4?
  • #80,965
  • Nov 27, 2010 5:49am Nov 27, 2010 5:49am
Quoting Adilius07
Btw, HanSolo, how do you make those arrows in MT4?

If you don't see this function, right click on the toolbar area and choose customize and add it.

But, I think HanSolo did those arrows in paint of some other program after he saved the picture.

That is what I always do in Windows 7.
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  • #80,966
  • Nov 27, 2010 5:53am Nov 27, 2010 5:53am
Quoting Pinbar
If you don't see this function, right click on the toolbar area and choose customize and add it.

But, I think HanSolo did those arrows in paint of some other program.
I did double check, I only have those vertical ones. Up and Down arrow. But how do you make a horizontal arrow? I tried to click ctrl, shift, no it would not rotate...

EDIT: ah so your's is done with external program too
  • #80,967
  • Nov 27, 2010 5:59am Nov 27, 2010 5:59am
Quoting Adilius07
I did double check, I only have those vertical ones. Up and Down arrow. But how do you make a horizontal arrow? I tried to click ctrl, shift, no it would not rotate...

EDIT: ah so your's is done with external program too

What OS are you using?

if it is XP or vista, you have to right click on the saved image, open or edit with paint or whatever the default program is and just draw your lines and arrows as you wish.
  • #80,968
  • Nov 27, 2010 6:00am Nov 27, 2010 6:00am
Quoting Pinbar
What OS are you using?

if it is XP or vista, you have to right click on the saved image, open or edit with paint or whatever the default program is and just draw your lines and arrows as you wish.
Ah yes that is what I do with Paint. I got XP.
If we only had a freehand arrow in MT4 things would've been much easier...
  • #80,969
  • Nov 27, 2010 6:08am Nov 27, 2010 6:08am
Quoting Adilius07
Ah yes that is what I do with Paint. I got XP.
If we only had a freehand arrow in MT4 things would've been much easier...
Yeah, trading station is James16 preferred platform, a much better platform.
  • #80,970
  • Nov 27, 2010 7:14am Nov 27, 2010 7:14am
Quoting Adilius07
Btw, HanSolo, how do you make those arrows in MT4?
I draw them with Photoshop.
Thanks J16, Sam Seiden, Udine and Jacko
  • #80,971
  • Nov 27, 2010 7:14am Nov 27, 2010 7:14am
Quoting HanSolo
I draw them with Photoshop.
oh, ok thanks.
  • #80,972
  • Nov 27, 2010 7:23am Nov 27, 2010 7:23am
What I'll be watching next wk...comments welcome....look how the ppz and 150 and friday profit taking hit for short on friday bar even though previous 3 bars all show up

look at how the 4H gave us signal bar and retrace to prior low for a short

of course it's easy to be "Saturday Morning Quarterback"
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  • #80,973
  • Nov 27, 2010 7:29am Nov 27, 2010 7:29am
Confluence ppz, RN, 150, DIV

4H BEOB
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  • #80,974
  • Nov 27, 2010 8:04am Nov 27, 2010 8:04am
Chart for thought
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  • #80,975
  • Nov 27, 2010 8:36am Nov 27, 2010 8:36am
Quoting Pinbar
Here's a Where is price going chart...This is the daily chart.

Don't be fooled by it being on the right of the chart, I moved it over there.

I will post the answer tomorrow to give people a chance.


No, up and down answers, please.....LoL
sorry for the crude chart
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  • #80,976
  • Nov 27, 2010 8:45am Nov 27, 2010 8:45am
Quoting HanSolo
Here is one for you...
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  • #80,977
  • Nov 27, 2010 9:47am Nov 27, 2010 9:47am
Ladies and gentlemen, screen time and dedication pay out once again: PB and ATC are right. This pinocchio bar is lying big time. As PB noticed it did not close above the PPZ and under the BRN. A very bad sign despite this great bar.

I think I will post some more straightforward examples next time. Those exceptions are important to know but they are not the rule and probably don't build the confidence needed when totally new to this.
Attached Image (click to enlarge)
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Thanks J16, Sam Seiden, Udine and Jacko
  • #80,978
  • Nov 27, 2010 10:15am Nov 27, 2010 10:15am
Quoting HanSolo
Ladies and gentlemen, screen time and dedication pay out once again: PB and ATC are right. This pinocchio bar is lying big time. As PB noticed it did not close above the PPZ and under the BRN. A very bad sign despite this great bar.

I think I will post some more straightforward examples next time. Those exceptions are important to know but they are not the rule and probably don't build the confidence needed when totally new to this.
  • #80,979
  • Nov 27, 2010 10:19am Nov 27, 2010 10:19am
Quoting Adilius07
I guess that's what advanced traders like Mike and Jarroo mean when they advise us to trade not just the bars but rather the whole story.
Thanks J16, Sam Seiden, Udine and Jacko
  • #80,980
  • Nov 27, 2010 10:25am Nov 27, 2010 10:25am
Quoting HanSolo
I guess that's what advanced traders like Mike and Jarroo mean when they advise us to trade not just the bars but rather the whole story.
Yes. Agree. BRN was huge mistake I did not notice...
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