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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

  • #83,921
  • Dec 28, 2010 4:24pm Dec 28, 2010 4:24pm
I like the story and the location of this PB.The only problem that it came in a period of the year I don't trade,but it will be interesting to learn by watching.
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Nothing personal,just business
  • #83,922
  • Dec 28, 2010 4:27pm Dec 28, 2010 4:27pm
Quoting fxgroup
I like the story and the location of this PB.The only problem that it came in a period of the year I don't trade,but it will be interesting to learn by watching.
I like the close above the 1.3000 and its confluence, of course . . I like its odds fxg . . . Size could be bigger.

Edit: Oh wait . . that was not a close above the 1.3000 . . .now I like its odds of going down . . .should be fun to watch . .
Indicators show the past. Price Action "Indicates" the future.
  • #83,923
  • Edited 5:03pm Dec 28, 2010 4:52pm | Edited 5:03pm
Quoting john225
Is that failed BEOB at swing high?
Quoting john225
Ok i think i got it yet with the swing highs and lows. This BEOB is for sure on swing high right?
Hey john.

These charts should help. They show the power of a strong PPZ level and how it is important for our PA to close above or below them.

Beside the strong move up (thanks Adilius), we see that the BEOB failed to close below this PPZ level. Notice that once it did close below . .bearish movement happened, although no obvious bearish PA was present. PA formations, even at their proper swing point, are only part of the story . .
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Indicators show the past. Price Action "Indicates" the future.
  • #83,924
  • Dec 28, 2010 5:32pm Dec 28, 2010 5:32pm
Quoting Atc
Location Location Location .... a few tomahawk scalps for the holiday season!

Jaroo Jarroo where are you?
Nice one Atc . .good for a few pips or at least a bit of bounce to cover your risk .

Price Flips Rule . .
Indicators show the past. Price Action "Indicates" the future.
  • #83,925
  • Dec 28, 2010 5:34pm Dec 28, 2010 5:34pm
Quoting KissFan
Another look at EUROCAD.

I see PPZ's at 1.3062, 1.2932, 1.2895 and 1.2744. Also, if you pull a fib from the 12.14 high, a fib tool lines up nicely with past price and the PPZ's.

K.I.S.S.

I'll be watching Rog . . .
Indicators show the past. Price Action "Indicates" the future.
  • #83,926
  • Edited 6:45pm Dec 28, 2010 6:20pm | Edited 6:45pm
Hi Jarroo..

This type of candle would be the one youll be looking for an entry ? or the buob itself would be enough as an entry ?

Thx for your time buddy.

Quoting jarroo
Yes . .I'm sure the percentage changes as it relates to retracements due to it's TF and the level its breaking.

As a general breakout of a level ? . . . . I would prefer PA as its trigger to take a general break out of a level. Like the Inside Bar that followed once Price broke through. This gave a clear Stop Loss placement above the IB or the 83.00. But we had to contend with the Daily Lows, traffic (green lines).

Definitely a viable trade . .strong downward momentum.
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Trade Smart
  • #83,927
  • Dec 28, 2010 6:58pm Dec 28, 2010 6:58pm
Quoting Adilius07
Hello KF, but we want to see BEOB's at swing highs with room to move, not at swing lows right before PPZ? I don't understand, looks as it is about to bounce any minute...
Quoting ghous
We have on Eur/Cad what I call A+ (If the bar can manage to close below 1.32, most preferably as it is at the moment)

The 'story' is as clear as you can get.

Too bad I am in a mood to to keep my a$$ on the spectator seat. This should be fun to watch.

http://cdn.forexfactory.com/images/s.../yim/happy.gif

g.
Now this is interesting and why subjectivity is involved in people's choices of trades as indeed in the USD/CAD chart I posted yesterday.

For Ghous, it is an A+ trade, apart from the time of the year.
  • #83,928
  • Dec 28, 2010 7:14pm Dec 28, 2010 7:14pm
Quoting jarroo
Yeah that's the one.

Remember how Price was approaching the 83.00 level on the Usd/Jpy. At the time, it had a nice confluence with this 83.00 PPZ level . trendline and 50% retracement level . .it was also a RN.

We were expecting Price to react bearishly, (Resistance) due to this confluence. . . It did not. Instead it broke through, closed above and acted as Support. Which it did for awhile until Price broke though and closed below. (Usd/Jpy Daily chart)

Well, the GBP/Nzd did the same thing, only in reverse. (Gbp/Nzd charts)


Merry Xmas Jarroo, hope you had a nice relaxing time.

Yes, I thought that was the chart you were talking about.

Just looking at your USD/CAD chart and it is interesting how just the RNs align up with the major flip areas. And, this is what I was trying to explain to Adi. Clear ranges, and some good PA at these box areas.
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  • #83,929
  • Dec 28, 2010 7:30pm Dec 28, 2010 7:30pm
Nice work Pinbar...keep up the great stuff

a couple charts for the hell of it

U/J ....liked the power of the down move with a retrace to 82.5 ppz and 61 fib for TT short
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  • #83,930
  • Dec 28, 2010 7:39pm Dec 28, 2010 7:39pm
Quoting Atc
Nice work Pinbar...keep up the great stuff

a couple charts for the hell of it

U/J ....liked the power of the down move with a retrace to 82.5 ppz and 61 fib for TT short

Thanks ATC

Yes, too bad about the area below this.
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  • #83,931
  • Dec 28, 2010 7:45pm Dec 28, 2010 7:45pm
I missed this one

It's raining pips.....please somebody help me.

J16 and the seniors....the light bulbs are getting brighter and brighter...thx to all of you

It's starting to worry me ....I keep seeing more and more opportunity...it's scary
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  • #83,932
  • Dec 28, 2010 7:47pm Dec 28, 2010 7:47pm
Quoting Atc
I missed this one

It's raining pips.....please somebody help me.

J16 and the seniors....the light bulbs are getting brighter and brighter...thx to all of you

It's starting to worry me ....I keep seeing more and more opportunity...it's scary
It's great ATC....You just need a filter. Don't we all. LoL
  • #83,933
  • Dec 28, 2010 7:56pm Dec 28, 2010 7:56pm
Just trying to get an idea how many people on forexfactory (or james16 in particular) are full-time traders. In other words, your only source of income is trading.

1. How long have you been trading in total?
2. How long it took you to finally start making enough income to support your life style,
3.What lot size do you trade normally regardless of capital availble.

hope no one gets offended..
  • #83,934
  • Dec 28, 2010 8:15pm Dec 28, 2010 8:15pm
Quoting Atc
IMHO....FWIW...I hope I can explain this clearly...Most importantly I use fibs as a side tool to gather confluence or to see what others may be watching for retracements along with RN and BRN and with how they line up with S/R(the most important factor>>>>LOCATION).

In my experience, if the retracement is hit and you find your FTA and others along the way
often there is a higher probability that the 23 target beyond the...
I was not binning the use of fibs Bill, nor do I think they are a useless set of lines that tell nothing. I also know many people use them regularly. Some have actually gone on to experiment with them using innovative ways. Bemac and KISS FAN are good examples.

What I was merely saying was that the high that you chose to draw your fibs from wasn't a true swing point. The 12th Dec high was a better swing high to be drawing them from...because thing is I can get a 61.8 fib ret literally on any bar I want if I draw them from the correct bar high to bar low, which we don't want. We use the fibs as a genuine confluence tool and use it when and if they line up.



g.
I believe . . .
  • #83,935
  • Dec 28, 2010 8:19pm Dec 28, 2010 8:19pm
Quoting KissFan
Another look at EUROCAD.

I see PPZ's at 1.3062, 1.2932, 1.2895 and 1.2744. Also, if you pull a fib from the 12.14 high, a fib tool lines up nicely with past price and the PPZ's.

K.I.S.S.
Thanks for getting to this Fib master. :

See Bill where the fibs use their swing high at?

g.
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I believe . . .
  • #83,936
  • Dec 28, 2010 8:31pm Dec 28, 2010 8:31pm
Quoting Pinbar
Now this is interesting and why subjectivity is involved in people's choices of trades as indeed in the USD/CAD chart I posted yesterday.

For Ghous, it is an A+ trade, apart from the time of the year.
Not the ideal location for a BEOB, but a decent one if you trade continuation bars

g.
I believe . . .
  • #83,937
  • Dec 28, 2010 8:38pm Dec 28, 2010 8:38pm
Quoting ghous
Not the ideal location for a BEOB, but a decent one if you trade continuation bars

g.

Yes, I was thinking it was a continuation setup you liked.
  • #83,938
  • Dec 28, 2010 8:42pm Dec 28, 2010 8:42pm
Quoting torontobboy2
Just trying to get an idea how many people on forexfactory (or james16 in particular) are full-time traders. In other words, your only source of income is trading.

1. How long have you been trading in total?
2. How long it took you to finally start making enough income to support your life style,
3.What lot size do you trade normally regardless of capital availble.

hope no one gets offended..

I detect the seeds of doubt creeping in.

To be honest, I fail to see what value the questions really have as it is not a matter, of how long anyone has been trading, how long it took them or what lost size they are using.
It is more of a matter of how long it takes us as individuals, and one can not ignore the fact that lot size is ultimately linked to the equity size for money management purposes.
  • #83,939
  • Edited 9:14pm Dec 28, 2010 9:01pm | Edited 9:14pm
Quoting Pinbar
Merry Xmas Jarroo, hope you had a nice relaxing time.

Yes, I thought that was the chart you were talking about.

Just looking at your USD/CAD chart and it is interesting how just the RNs align up with the major flip areas. And, this is what I was trying to explain to Adi. Clear ranges, and some good PA at these box areas.
Hello Pinbar, fantastic results really!!!
You took all those that you marked with a blue box?

EDIT: I see your first trade gave you 15% profit. You don't show the position size. I can only guess that you risk about 10-15% of your account? (that is if the results are for the USDCAD chart you show. It is in a range, so making that much requires same risk)
  • #83,940
  • Dec 28, 2010 9:13pm Dec 28, 2010 9:13pm
Quoting torontobboy2
Just trying to get an idea how many people on forexfactory (or james16 in particular) are full-time traders. In other words, your only source of income is trading.

1. How long have you been trading in total?
2. How long it took you to finally start making enough income to support your life style,
3.What lot size do you trade normally regardless of capital availble.

hope no one gets offended..
I think they are great questions, and everyone has their own choice to answer.

1. I have been trading for just over 3 years.
2. I had my first winning year last year, I hope to keep stepping forward. It just takes time, and working 2 other jobs and a house on my own doesn't allow for a lot of time to concentrate on this.
3. I am still microtrading. If I blow my account, it will be a very small amount.

I think the secrets to success (and I don't know, because I am not there) are...

#1) Patience. Patience to let it come to you. Patience to wait for the right trade. Patience to learn about yourself, your trading and your charts.

#2) A large account. If you have a $50,000 account and making a massive 30% in one year, that is only $15,000. If you have a $1,000,000 account and make 30% in one year, that is $300,000 and that is a TON of money.
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