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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

  • #81,581
  • Dec 4, 2010 2:53am Dec 4, 2010 2:53am
Quoting Pinbar
And then I say to myself, just keep it simple with RN, PPZ and confluence.

Set the trap and wait for the bait to bite.

As we can see, I am confusing myself.

Any advice folks?

EDIT:
Self advice: Just go back to Jarroo's PPZ.
Let me go through this a bit...
I believe . . .
  • #81,582
  • Dec 4, 2010 3:02am Dec 4, 2010 3:02am
Quoting ghous
Let me go through this a bit...

Thanks Ghous, appreciate it.
  • #81,583
  • Edited 4:33am Dec 4, 2010 4:15am | Edited 4:33am
Quoting Pinbar
And then I say to myself, just keep it simple with RN, PPZ and confluence.

Set the trap and wait for the bait to bite.

As we can see, I am confusing myself.

Any advice folks?

EDIT:
Self advice: Just go back to Jarroo's PPZ.
I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at the same time you can't let go of any other measure that can potentially help you analyze the trade. Is that right?

At the end of the day it really comes to simplicity and further down to your own definition of simplicity. Zhang does a good job with eying PA on higher TFs and using it as a bias on intraday ones. I on the other hand keep my time frames completely separate, that is if I take a setup it has to be for reasons I see on that very chart and time frame and if I pass a setup, something's there on the very time frame that would deter me from taking the trade.

The confusion you're facing has its origins in not having the confidence to pursue what you think should work for you. If you don't find switching between time frames and ensuring you don't violate higher TF PA tedious or complicated and deep inside you want to pursue the exercise you need not worry or regret about not making it any simpler.

Einstein was the one I think who said "Everything should be simplified enough - but not any more simpler"

As you practice along, your emotions, attitudes and results will help you decide what you should or should not add in your trading arsenal.

Think about it. When you first hooked up the mt4 you were more confused than you are today, likewise 6 months down the road you'll be less confused than you are today.

Some things just take time. You can't expect a baby in a month by making 9 women pregnant (Warren Buffet)

EDIT: To quickly summarize, I don't think I am going to say a yes or a no or give a specific recommendation of how you should go about it because that would certainly mean asserting my own beliefs (not coming from a 10 year old pro) on your thinking process - a bad idea.

Apologies for keeping it a little more general than I should have. Frankly I think Jarroo's going to drop down upon this with the right tonne of stuff, but just thought I was going to add in something which may benefit you in some way.

g.
I believe . . .
  • #81,584
  • Dec 4, 2010 4:24am Dec 4, 2010 4:24am
Quoting ghous
I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at the...
As a followup,

Here are my thoughts on the two setups you mentioned. If EG breaks long I think hitting 86000 would be Job well done. If Eu breaks long a hard break should see 1.37

That's all there is going through my mind about the two. Trust me if you will Bar shape (strong vs weak look) Space to FTA and a visual idea of where the bar is at is what decides my trades 98% of the times.

(not recommending anything, just letting you know what normally goes through my mind when I trade)

Had it not been December, Eu was just about a no brainier for my methods. Regardless of the out come of course.

g.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu.gif Size: 30 KB
I believe . . .
  • #81,585
  • Dec 4, 2010 4:28am Dec 4, 2010 4:28am
Quoting ghous
I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at the...


Thanks Ghous...Some of that made me cringe and some of it made me smile.

You know, I think it may have something to do with being over at the PF reading and watching videos all day.

I have mentioned this a few times before but, I will mention it again as this may be part of the reason, my mind is all over the place.

I know Big Jim has done this a Looooooooong time, and has been through hell and back, fallen into every trading trap imaginable before he arrived at the point he is at today, through blood, guts and probably many tears and from the tone of his voice, maybe even worse.

I can not help but notice, how he is doing this on the daily TF, I know he is seeing the flips on the weekly or monthly on the daily TF. He knows which are which for sure.

But anyway, I started off on drawing PPZ on monthly, weekly, daily, H4 etc, now I know that we don't really need to do this, we can wait for PA, then check the location. But, I miss a lot of setups like that for some reason, maybe I am watching, too many pairs, maybe I need to make my order of analyzing setups different. Not really sure yet but, I have got to break out of this situation and am looking for a method to do that.

Maybe, only looking at the daily and trying that for a while may work.

Many thanks for the advice, I am going back to read it again.
  • #81,586
  • Dec 4, 2010 4:38am Dec 4, 2010 4:38am
Quoting ghous
As a followup,

Here are my thoughts on the two setups you mentioned. If EG breaks long I think hitting 86000 would be Job well done. If Eu breaks long a hard break should see 1.37

That's all there is going through my mind about the two. Trust me if you will Bar shape (strong vs weak look) Space to FTA and a visual idea of where the bar is at is what decides my trades 98% of the times.

(not recommending anything, just letting you know what normally goes through my mind when I trade)

Had it not been December, Eu was...

EDIT: This is where I am looking at the monthly BEOB and the 0.3500 BRN on the daily and going, Hang on!


Hmm, so you think EU is a better bet than EG?
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  • #81,587
  • Dec 4, 2010 4:38am Dec 4, 2010 4:38am
Quoting Pinbar
Thanks Ghous...Some of that made me cringe and some of it made me smile.

You know, I think it may have something to do with being over at the PF reading and watching videos all day.

I have mentioned this a few times before but, I will mention it again as this may be part of the reason, my mind is all over the place.

I know Big Jim has done this a Looooooooong time, and has been through hell and back, fallen into every trading trap imaginable before he arrived at the point he is at today, through blood, guts and probably many tears and from the...
I got rid of everything under the daily time frame precisely because I kept missing setups. Some people are ok with it, I feel like throwing up on every pip that moves in the right direction on the missed setup. I've banged my head against the wall once (hard enough for a bruise) for missing a "once in many months" PB on eu on the 1H.

Yet again...you gotta do what works for ya! lol

g.
I believe . . .
  • #81,588
  • Dec 4, 2010 4:39am Dec 4, 2010 4:39am
Quoting Pinbar
Hmm, so you think EU is a better bet than EG?
For sure!

More space, and a better look.

g.
I believe . . .
  • #81,589
  • Dec 4, 2010 4:40am Dec 4, 2010 4:40am
Quoting Pinbar
I think he is out chasing women after Supreme suggested it. LoL

Good for Jarroo.

We can work it out, or at least we can try, till Jarroo, Mike, Supreme or Ghous arrive.

I know you want advice from Jarroo, don't we all but, maybe there are other people that can help with the question.
If you only ask Jarroo, others will stand aside, even though they may be able to help.
Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.

But on second thought running after women is a great job on its own.

I did not say that anyone cannot answer this.
I genuinely need help,so anyone is welcome.
Ghous,Jarroo,Pinbar,Mike,Rac anyone.
And a lot of great names.
If you did not find my question i will guide what it was.
Help is Help,i will be greatly obliged with any efforts on anyones part.
Thank You.
Taz
  • #81,590
  • Dec 4, 2010 4:49am Dec 4, 2010 4:49am
Quoting 666Doom
Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.

But on second thought running after women is a great job on its own.

I did not say that anyone cannot answer this.
I genuinely need help,so anyone is welcome.
Ghous,Jarroo,Pinbar,Mike,Rac anyone.
And a lot of great names.
If you did not find my question i will guide what it was.
Help is Help,i will be greatly obliged with any efforts on anyones part.
Thank You.
Taz

----------------------------------------------------------------------------------
Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz http://cdn.forexfactory.com/images/s.../yim/happy.gif

----------------------------------------------------------------------------------

Well, I think you may have come over as if you wanted Jarroo specifically to answer. So, I and probably others assumed that.

Over 50? What has that got to do with chasing women?
I do it all the time man and I am 53.

It is the spice of life.
  • #81,591
  • Dec 4, 2010 4:51am Dec 4, 2010 4:51am
Quoting ghous
For sure!

More space, and a better look.

g.

I suppose we can assume this will make to to the low of the bar previous to the BEOB.


Thanks Ghous.
  • #81,592
  • Dec 4, 2010 4:59am Dec 4, 2010 4:59am
[quote=666Doom;4220905]Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.




Maybe, if you can point to that Rac post, it will be easier to understand the question.
  • #81,593
  • Dec 4, 2010 5:02am Dec 4, 2010 5:02am
Quoting Pinbar
----------------------------------------------------------------------------------
Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz http://cdn.forexfactory.com/images/s.../yim/happy.gif

----------------------------------------------------------------------------------

Well, I...
Whooo Big Guy,
Calm Down sir,
No Offence intended on my side.
Truth,In fact the biggest truth, Chasing Women is the Spice of Life.


But please could you,help me.
Thank you Sir,
Taz
  • #81,594
  • Dec 4, 2010 5:09am Dec 4, 2010 5:09am
Quoting 666Doom
Whooo Big Guy,
Calm Down sir,
No Offence intended on my side.
Truth,In fact the biggest truth, Chasing Women is the Spice of Life.


But please could you,help me.
Thank you Sir,
Taz

Hey TAZ....Not sure what you are talking about, I am calm and was simply asking what is wrong with chasing women at 50.

I think you are reading too much into it, maybe I should have put a smiley in the post.



Can you point me to the Rac post about that.
  • #81,595
  • Dec 4, 2010 5:11am Dec 4, 2010 5:11am
[quote=Pinbar;4220912]
Quoting 666Doom
Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.




Maybe, if you can point to that Rac post, it will be easier to understand the question.

Let me present the question here.
There is a lot less chance that a monthly high will be exactly matching with the bars of lower TF.
Say this month actually made a high and then never made it back to that place but still it will be seen that when price reaches that area it will stop,irrespective of the confluence.

Which means that area was important(ie monthly high/lows are important).
But what if the high is in common with a weekly cluster (several) highs.
Then don't you think that area is enhanced.
I know,I know i answered the question by myself, based on my belief,but still want expert advice ,like yours jarroos and others.

If you think i am talking about hypothetical case,i can show you a chart if you ask,but i believe you will feel that case may arise when high of month does not match with other areas.

I cannot find that direct post,i summed up some points will reading his posts again a week ago,from there arose this question.

One of his charts or several are marked like daily,Daily-Weekly,that means and i saw, it was combination.
Taz
  • #81,596
  • Dec 4, 2010 5:15am Dec 4, 2010 5:15am
Quote
I am calm and was simply asking what is wrong with chasing women at 50.
Nothing wrong with that unless you want some spice in married life or are not Married at all.
this is just IMO.

I am not going to talk much about marriage and other stuff as i am not near that right now.
  • #81,597
  • Dec 4, 2010 5:23am Dec 4, 2010 5:23am
Yeah, I think you need to post a chart.

I mean, a high on the monthly will be a high on any timeframe.
  • #81,598
  • Dec 4, 2010 5:30am Dec 4, 2010 5:30am
Quoting ghous
I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at...
I believe this is a dilemma all us newbies are passing through (at least I speak for myself) and your words just made me
  • #81,599
  • Dec 4, 2010 5:36am Dec 4, 2010 5:36am
Quoting ghous
For sure!

More space, and a better look.

g.
Hi Ghous,

When we refer to more space do you mean what I colored in the attached picture?

http://i.imgur.com/yKX19.png

Thanks
  • #81,600
  • Dec 4, 2010 5:42am Dec 4, 2010 5:42am
Quoting Pinbar
Yeah, I think you need to post a chart.

I mean, a high on the monthly will be a high on any timeframe.
A high on Monthly Combined with several multiple touches in past , of that of Smaller TF.
It is damn obvious that when month was being formed at-least a single week or two spiked till that high,but i am talking about Weeklies lining up exactly with monthly to the pip or with less gap.
But those weeklies have to be far apart from that particular month.

It is like Daily PPZ is PPZ on daily, we may not see it on monthly.
But Monthly will be visible on smaller TF,i am talking about down top approach

But what if our daily PPZ is in Confluence with a monthly.
Wont it be a special case or just a normal case.

Regards
Taz
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