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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

  • #81,601
  • Dec 4, 2010 6:04am Dec 4, 2010 6:04am
Quoting lallous
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
Space for me is the distance to the FTA. The larger the better.

In your chart not all of that would be "space" in my book. (see chart)

Also attatched 2 other charts to help you get the idea.

g.
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I believe . . .
  • #81,602
  • Dec 4, 2010 6:11am Dec 4, 2010 6:11am
Quoting 666Doom
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...
Nice chart.

More of weeklies lining up in that area of monthly high would be better. That would be a good indication of the strength of the ppz (formed at the monthly high). Remember that post where I outlined a few ways to distinguish strong PPZs from weak ones. A point included in the list was "number of touches". The more touches or evidences of S/R at the level the stronger is the area because more touches make the area obvious and hence catch a lot more eyeballs.

g.
I believe . . .
  • #81,603
  • Dec 4, 2010 6:12am Dec 4, 2010 6:12am
Could this line not be a probleme for that trade that this line will act as Resistance?

Ghous would you place a Long order above the Resistance or above the high of the PB ?

john225 ;-)
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  • #81,604
  • Dec 4, 2010 6:18am Dec 4, 2010 6:18am
Quoting john225
Could this line not be a probleme for that trade that this line will act as Resistance?

Ghous would you place a Long order above the Resistance or above the high of the PB ?

john225 ;-)
That would be a minor area to watch out. My order would be just above that res area, and for me a lot would depend on how hard the Pb breaks. Obviously if we blow through the line you drew chances are it'll probably hold as support and help price to make it to the marked trouble area.

An important part of anticipating a strong break would be the strong close on the pin bar.

g.
I believe . . .
  • #81,605
  • Dec 4, 2010 6:21am Dec 4, 2010 6:21am
Quoting ghous
That would be a minor area to watch out. My order would be just above that res area, and for me a lot would depend on how hard the Pb breaks. Obviously if we blow through the line you drew chances are it'll probably hold as support and help price to make it to the marked trouble area.

An important part of anticipating a strong break would be the strong close on the pin bar.

g.
So you wouldn´t set the order and forget it till the next candle opens. You would whatch it how it breaks right?
Would you go to an lower timeframe to watch how it breaks?
  • #81,606
  • Dec 4, 2010 6:37am Dec 4, 2010 6:37am
Quoting john225
So you wouldn´t set the order and forget it till the next candle opens. You would whatch it how it breaks right?
Would you go to an lower timeframe to watch how it breaks?
I never switch time frames between trades. That is I won't even look at the daily until a weekly trade plays out even if it does so in a month's time.

But yeah my eyes would be on the moves on the time frame the pin bar is at. In case we don't get the hard break I might get out with a little -, 0, or +. This is how I normally deal with setups that are heading into some immediate res/supp (as in very close to my entry point). Slightly further away and I pass on the setup, a little more and it becomes A+ for me.

g.
I believe . . .
  • #81,607
  • Dec 4, 2010 7:07am Dec 4, 2010 7:07am
Quoting ghous
Space for me is the distance to the FTA. The larger the better.

In your chart not all of that would be "space" in my book. (see chart)

Also attatched 2 other charts to help you get the idea.

g.
that cleared things up,

Thanks Ghous
  • #81,608
  • Dec 4, 2010 7:11am Dec 4, 2010 7:11am
good space and nice close above the 10 eur.
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meine augen sind die sterne
  • #81,609
  • Dec 4, 2010 7:22am Dec 4, 2010 7:22am
Quoting mbqb11
No worries Conrad, I am always around and lurking, or not far
Mike,

Please see attached EURCAD chart. I have highlighted what looks to me as the main PPZ's although I realise and see that there are many small price flips in between the lines that I have inserted.

Arguably you could insert a line at every NR & BRN and you will see a price flip.

Any advice that you can offer is much appreciate and apologises if the quality of the picture is not good.

I look forward to your comments.

Conrad
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  • #81,610
  • Dec 4, 2010 7:35am Dec 4, 2010 7:35am
this weekly bar found support right at a place where we expected it and resulting in a buob. let's see if oracle has enough power to break the 30 usd. beyond this it will fly to the sky...
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meine augen sind die sterne
  • #81,611
  • Dec 4, 2010 7:46am Dec 4, 2010 7:46am
Quoting ghous
Nice chart.

More of weeklies lining up in that area of monthly high would be better. That would be a good indication of the strength of the ppz (formed at the monthly high). Remember that post where I outlined a few ways to distinguish strong PPZs from weak ones. A point included in the list was "number of touches". The more touches or evidences of S/R at the level the stronger is the area because more touches make the area obvious and hence catch a lot more eyeballs.

g.
Hey Thanks Ghous,
I really appreciate that.
I got that my point was right,i will look out fort more of those weeklies lining up in my favor.
I had already got an idea that weeklies lining up with rejection would be really nice.
Your Expert advice was well needed here.
Regards
Taz
  • #81,612
  • Dec 4, 2010 7:49am Dec 4, 2010 7:49am
this could result in an explosion (kaboom) beyond the 80 usd.
it is the third attempt to break the resistance and most of the time the successfull one.

comments appreciated...
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meine augen sind die sterne
  • #81,613
  • Dec 4, 2010 9:15am Dec 4, 2010 9:15am
Quoting lallous
Hi Ghous,

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



Thanks

Hey Lallous

I think that is a good representation of space and you will be far ahead with understanding that alone . That is part of how I do it at least. But space and FTA are two difference concepts. But of course they have some overlap. I did a video that some found useful

I have re-uploaded it

http://www.mediafire.com/?prjqndc567ygtud

Best
Mike
  • #81,614
  • Dec 4, 2010 9:39am Dec 4, 2010 9:39am
Quoting mbqb11
Hey Lallous

I think that is a good representation of space and you will be far ahead with understanding that alone . That is part of how I do it at least. But space and FTA are two difference concepts. But of course they have some overlap. I did a video that some found useful

I have re-uploaded it

http://www.mediafire.com/?prjqndc567ygtud

Best
Mike
Damn! I admire your ability to get things across as simply and succinctly as you do. :

g.
I believe . . .
  • #81,615
  • Dec 4, 2010 9:51am Dec 4, 2010 9:51am
Quoting Pinbar
Think I am stuck in the weeds....LoL

I was yesterday for sure.

I think you have done great and are much further ahead than myself.

I have to get my analysis system in order instead of just concentrating on a single aspect too much. Any advice XMZ?



Here is a good example of my dilemma.
Hey PB what's up my friend. I don't think I'am much further ahead than yourself, it's very important to have a well defined plan and stick to that plan, it's like a simple computerprogram constructed out of several statements of the form : IF .... THEN ..... ELSE. A good excercise would be putting your plan into a flowchart. Simplicity is king, before I joined the James thread, I thougth (mathematical) indicator based systems were the best. My tradingsystem would consists of more than 10 different parameters which all had to be optimized, and only worked well during specific market conditions until market conditions changes ........
Pipcrawler
  • #81,616
  • Dec 4, 2010 10:01am Dec 4, 2010 10:01am
Quoting ghous
Damn! I admire your ability to get things across as simply and succinctly as you do. :

g.
G you have that talent bud and you probably don't even know it. Your posts were great and I didn't want to take away from them or anyone else. Just adding my thoughts to your great posts too bud!

Best
Mike
  • #81,617
  • Dec 4, 2010 10:47am Dec 4, 2010 10:47am
Nice and classic stuff of what we have learn here! The old support now act as resistence.
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Nothing personal,just business
  • #81,618
  • Dec 4, 2010 6:47pm Dec 4, 2010 6:47pm
Quoting xmzhang
Hey PB what's up my friend. I don't think I'am much further ahead than yourself, it's very important to have a well defined plan and stick to that plan, it's like a simple computerprogram constructed out of several statements of the form : IF .... THEN ..... ELSE. A good excercise would be putting your plan into a flowchart. Simplicity is king, before I joined the James thread, I thougth (mathematical) indicator based systems were the best. My tradingsystem would consists of more than 10 different parameters which all had to be optimized, and only...
Possibly, this is part of the cure, however it may well be TF hopping combined with the order of analysis.

Thanks X....Any chance you can expand a little on your methodology with a couple of charts, keeping it as simple as possible?

Thanks in advance.
  • #81,619
  • Edited 1:08am Dec 5, 2010 1:07am | Edited 1:08am
Good morning world,

There is a problem spotted somewhere in Lithuania. And the problem is related with engulfing bars.

Earlier I thought that right construction of engulfing bar (buovb or beovb) is when first bar open and close range is engulfed with second bar open and close (see 1 attached chart).

But now, I noticed that people also trade “engulfing bars” when first bar open and close range is engulfed by shadows range of the second bar (see 2 attached chart).

So the question is what’s the difference? Are both contractions reliable? And why?

I would appreciate any kind of help of examples

And here goes a joke:
What’s the difference between people praying in church and people praying in front of monitor? The ones that pray in front of monitor do it more sincerely.
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  • #81,620
  • Edited 2:35am Dec 5, 2010 2:31am | Edited 2:35am
Here is the technical answer, they use CANDLES

http://www.investopedia.com/terms/b/...ingpattern.asp


And this site is pretty good too

http://stockcharts.com/help/doku.php...stick_bullish_
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