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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

  • #81,901
  • Dec 8, 2010 8:13am Dec 8, 2010 8:13am
Guys

Good to see other new traders looking to get started with ppz, as I am. I believe, having joine the thread, this is a foundation upon which successful PA/J16 trading is built. You only have to look at james's posts from earlier today to see this is crucial. Time spent on getting this down is a good investment in your skills so heres hoping we can all learn together.
  • #81,902
  • Dec 8, 2010 8:36am Dec 8, 2010 8:36am
But in my opinion you've ignored an important PPZ. Will that change the story for you at all?

Quoting mbqb11
Hey Numen

The fire is burning strong welcome bud

Your bar is just barely a beob with the lower low then the previous bar....
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  • #81,903
  • Dec 8, 2010 8:37am Dec 8, 2010 8:37am
Quoting Donkey
Here's my 2 cents. I think you guys are really all looking at the same major ppz zone but different minor ones within it.. There is a good bit of consolidation around 8500 and this is one of those areas where I don't think you're going to see a well defined price line. On the weekly chart you could argue you almost have one major 200 pip zone centered around 8500.

I'm a newbie as well so take my thoughts with a grain of salt.
Good point. Do you take only setups with clearly definable PPZ levels?
Thanks
  • #81,904
  • Dec 8, 2010 8:38am Dec 8, 2010 8:38am
Big buob at support level.I'm waiting to see 1.62 for good confluence:BRN+good ppz+cluster fibbo+big TL.
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Nothing personal,just business
  • #81,905
  • Dec 8, 2010 9:03am Dec 8, 2010 9:03am
Quoting artov
But in my opinion you've ignored an important PPZ. Will that change the story for you at all?
Hello artov,
i think it's very likely that he is aware of that PPZ.

personally i would've plotted that PPZ about 10pips lower.
regardless, i think that PPZ has somehow lost its authority as price has pierced above it (price is currently at the PPZ). for potential further bearish pressure, i would like to see the H4 &/or daily candle to close around 0.9800-50 (ideally much lower).

it's looks like it wants to revisit 1.00 than 0.9700
Let's see
  • #81,906
  • Dec 8, 2010 9:05am Dec 8, 2010 9:05am
Quoting Kalbar
Hi guys

Just taking in material on this great thread and having a go at ppz s on weekly TF's. Trying to plot them near to the current price action so that they come into play when looking for potential trades. Anyone care to comment on this chart's ppz? Maybe the zones are a bit too wide?

Thanks,

Kal
Hey Kal, what's up. Those look pretty good. I would consider your weekly zones not too wide. I attached my zones with arrows/reasons. Hope it helps.

-- Danny
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  • #81,907
  • Dec 8, 2010 9:07am Dec 8, 2010 9:07am
I see what you mean, I guess you would have drawn the PPZ lower because of the previous lows on 4hr. It looks like it is respecting them for at least now. Thanks for your insights bro

Quoting supremeChaos
Hello artov,
i think it's very likely that he is aware of that PPZ.

personally i would've plotted that PPZ about 10pips lower.
regardless, i think that PPZ has somehow lost its authority as price has pierced above it (price is currently at the PPZ). for potential further bearish pressure, i would like to see the H4 &/or daily candle to close around 0.9800-50 (ideally much lower).

it's looks like it wants to revisit 1.00 than 0.9700
Let's see
  • #81,908
  • Dec 8, 2010 9:55am Dec 8, 2010 9:55am
Quoting bluetrader
Hey Kal, what's up. Those look pretty good. I would consider your weekly zones not too wide. I attached my zones with arrows/reasons. Hope it helps.

-- Danny
Hey Blue

Thanks for your reply man. Like the look of your chart and the use of the arrows to plot the zones. Using the arrows makes it nice and clear. I am trying to take a top-down approach to this so that I have the basic building blocks in place. Your post is a good help. Thanks. After plotting my Weeklies will now look to plot my daily PPZ.

kal
  • #81,909
  • Dec 8, 2010 10:14am Dec 8, 2010 10:14am
nzdusd reached the first target:TL. partial profit safety banked,sl at be.
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Nothing personal,just business
  • #81,910
  • Dec 8, 2010 10:21am Dec 8, 2010 10:21am
Quoting fxgroup
nzdusd reached the first target:TL. partial profit safety banked,sl at be.
Nice trade and nice ppz plotting FX! Hope I can follow in your footsteps!
Keep it up
  • #81,911
  • Dec 8, 2010 1:25pm Dec 8, 2010 1:25pm
Quoting artov
But in my opinion you've ignored an important PPZ. Will that change the story for you at all?
Hey Art

A small bar like that not in the least for me. There is just not much too it. That could easily be just about anything. Looks more like a "stall" at that area, rather then any kind of true selling. Again any bar can and will give results but we want the bars/setups/confluence/areas that give us the best chance over many may trades. There are simply too much better setups for me then to put my money on something like that(of course to each his own as always )

Best
Mike
  • #81,912
  • Dec 8, 2010 1:29pm Dec 8, 2010 1:29pm
Quoting fxgroup
Big buob at support level.I'm waiting to see 1.62 for good confluence:BRN+good ppz+cluster fibbo+big TL.
Nice bud I took the same one
  • #81,913
  • Dec 8, 2010 1:39pm Dec 8, 2010 1:39pm
Quoting mbqb11
Nice bud I took the same one
Isnīt this BUOB going agains the strong Downtrend and going into traffic?
  • #81,914
  • Dec 8, 2010 1:42pm Dec 8, 2010 1:42pm
Quoting john225
Isnīt this BUOB going agains the strong Downtrend and going into traffic?
There is a nice story confluence and ability to manage the trade. I will try to get a chart up later on it

Best
Mike
  • #81,915
  • Dec 8, 2010 2:11pm Dec 8, 2010 2:11pm
Quoting mbqb11
There is a nice story confluence and ability to manage the trade. I will try to get a chart up later on it

Best
Mike
Mike

This newbie is ready to gobble up your chart - your analysis is always so good to listen to!! Look forward to it.

kal
  • #81,916
  • Dec 8, 2010 2:53pm Dec 8, 2010 2:53pm
lol

Quoting mbqb11
What the heck bud get some sleep! I am just waking up and this guys just going to bed. Texan for ya
  • #81,917
  • Dec 8, 2010 2:53pm Dec 8, 2010 2:53pm
thank you sir.

im honored you feel that way.

Quoting Kalbar
Great to see a post from the master himself! What a great thread this is Sir Jim! Glad to have found it!

thanks,

kal
  • #81,918
  • Edited 3:30pm Dec 8, 2010 3:10pm | Edited 3:30pm
Quoting mikeb
Trying out the support turning into resistance touch trade. Let's see how it turns out. I'm doing this to show how hard it is to pull the trigger when you see such a nice big bulish bar.
Hey Mikeb,

Touch trades can be real tough especailly when Price is on a tear. Even with a confluenced level, which the 83.50 level had with the 61.8 fib (so-so), once Price start building momenum (more buyers, in this case) its tough to stop even with a good looking PPZ.

To put it in a different way . . . Your 83.50 is good PPZ level mikeb, what does that tell you about the strength of Price when it went through it?

The level is strong too, but Price was stronger. It doesn't take away that the 83.50 is a good one. I would look for it to act as Support. Much like the 83.00 acted as Resistance once Price tore through that level.

Touch trades at strong confluenced levels are one thing . . . , by "strong confluence", I mean many of them at the same level: PPZ, BRN, Fib ret. or 50% ret., trendline, planetary alignment, the kitchen sink, etc., . .

. . .but nothing beats a nice big PA formation at these levels to confirm . .and strengthen . .the setup to pull the trigger. No clear bearish PA at the 83.50 on any TF.
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Indicators show the past. Price Action "Indicates" the future.
  • #81,919
  • Edited 4:23pm Dec 8, 2010 3:25pm | Edited 4:23pm
Quoting james16
bottom line is this.

if what your doing is not simple, repeatable, refinable and in my humble opinion non indicator based then its a long brutal road.

its why i started this thread all those years ago.
Quoting james16
please new folks dont do this until you have proven yourself first on longer time frames.

Nice trade on the 10min, Jim . . .It reminded me of a trade I took about a year ago.

Looks about the same . . but the Time frame . .10min . .Weekly . . . . . . .


Quoting jarroo
Anyone in on this Usd/Chf Weekly PB? Nice hard Break above the 1.0300. (James16: "This is Critical") . Nothing on the Lower time frames showed me anything great prior to the break. Blue areas are my targets.

PA Rules!
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Indicators show the past. Price Action "Indicates" the future.
  • #81,920
  • Dec 8, 2010 3:39pm Dec 8, 2010 3:39pm
Hi gurus,
How could I have talked myself out of taking this trade?

Strong points were
- Weekly timeframe ( higher the better)
- Bearish outside bar
- with the weekly trend
- Next weekly bar broke out ( some momentum)

what are those weak points those I missed.
In case you took the trade anyway, how would you have managed it to minimize loss ( not full weekly bar loss).

Appreciate if you can share your thoughts.
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