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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

  • #84,141
  • Dec 30, 2010 8:50pm Dec 30, 2010 8:50pm
With absolute respect to Mike & Jim and...
I respectfully submit...

ALL PA since ~ Dec 15 is Tainted & will be until ~ Jan15th.

PA can be played during this timeframe but is likely to be cast aside in a week or two.

Your Choice: Account in the Blender or Account in Your Hands.
{It's not likley that your obit will read 10-11. The day Dad Broke Out. }
Sounds like a rec NOT to Trade for a while &.. yep.. I guess that's exactly what it is.

TermTraders Aside.
B
  • #84,142
  • Dec 30, 2010 8:53pm Dec 30, 2010 8:53pm
Quoting leelar
I think I got it. I hope. Thanks
Hey Lee

To make it simpler

PPZ = Price Pivot zone a flip of support and resistance

Pivot Points = Calculated price lines based on OHLC


Here are starter posts for PPZ(the most powerful tool or one of them I know)


http://www.forexfactory.com/showpost...ostcount=14084

Best
Mike
  • #84,143
  • Dec 30, 2010 8:54pm Dec 30, 2010 8:54pm
Quoting Bemac
With absolute respect to Mike & Jim and...
I respectfully submit...

ALL PA since ~ Dec 15 is Tainted & will be until ~ Jan15th.

PA can be played during this timeframe but is likely to be cast aside in a week or two.

Your Choice: Account in the Blender or Account in Your Hands.
{It's not likley that your obit will read 10-11. The day Dad Broke Out. }
Sounds like a rec NOT to Trade for a while &.. yep.. I guess that's exactly what it is.

TermTraders Aside.
B
Agree B, been closed up since roughly that time. Will start normal business up in the new year, but will not be jumping the gun until I see what feels like "the norm" resume

Good advice for sure

Mike
  • #84,144
  • Dec 30, 2010 8:55pm Dec 30, 2010 8:55pm
Quoting Atc
Are you watching this IPB?
Not really Atc, this time of the year keeps me away from charts The bar itself isn't all that special either. Sort of small and a strong essence of an indecision bar rather than a proper (inverted) pin bar. g.
I believe . . .
  • #84,145
  • Edited 9:35pm Dec 30, 2010 8:56pm | Edited 9:35pm
Quoting mbqb11
Hey Lee

To make it simpler

PPZ = Price Pivot zone a flip of support and resistance

Pivot Points = Calculated price lines based on OHLC


Here are starter posts for PPZ(the most powerful tool or one of them I know)


http://www.forexfactory.com/showpost...ostcount=14084

Best
Mike
What did you say earlier? Warm group of ppl? I think you nailed it.

Happy New Year to you all.

Yes, now I recalled j16's chart w/ppz. Thank you Mike.
  • #84,146
  • Dec 30, 2010 9:19pm Dec 30, 2010 9:19pm
Quoting ghous
Not really Atc, this time of the year keeps me away from charts The bar itself isn't all that special either. Sort of small and a strong essence of an indecision bar rather than a proper (inverted) pin bar. g.
I thought you would reply as you did...just checking to see if my thoughts are in line.
  • #84,147
  • Dec 30, 2010 9:25pm Dec 30, 2010 9:25pm
Quoting Bemac
With absolute respect to Mike & Jim and...
I respectfully submit...

ALL PA since ~ Dec 15 is Tainted & will be until ~ Jan15th.

PA can be played during this timeframe but is likely to be cast aside in a week or two.

Your Choice: Account in the Blender or Account in Your Hands.
{It's not likley that your obit will read 10-11. The day Dad Broke Out. }
Sounds like a rec NOT to Trade for a while &.. yep.. I guess that's exactly what it is.

TermTraders Aside.
B
TAINTED ???

I caught the swing down on the 15th, now on the way up.
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  • #84,148
  • Dec 30, 2010 9:56pm Dec 30, 2010 9:56pm
is anybody using this sytem? Is there a thread just for these trades. i love this system with 4 hour charts
  • #84,149
  • Dec 30, 2010 9:59pm Dec 30, 2010 9:59pm
leaving round numbers and confluence, moving average, classic pivots, and fibs apart....my question is regarding price action pivots.... i keep reading that look for price action confirmation around the ppz..

how to trade the ppz and what price action confirmation to look for? so if i have drawn my ppz based on daily price action...i drill down to 4h or 1h and look for price action.

by price action i mean i'm looking for beob, buob, pin bar or something of this sort to go long or short. is this what is considered 'confirmation' ? if it is confirmation then i think the price has already moved a lot by forming this confirmation and shall i still get into a trade when I know i've missed some of the move?

shall I use a touch trade technique around these ppz and put a stop loss out of this ppz?

thanks for help (also, any good books from pring besides "the definitive guide to price pattern"?)

thanks
  • #84,150
  • Dec 30, 2010 10:03pm Dec 30, 2010 10:03pm
Quoting jarroo
The chart was to illustrate how you can predict the behavior of PPZ levels as acting as Support (Price closing above) or Resistance (Price closing below).

What "good looking setups" didn't pan out? on the Daily?
Perhaps the opportunities were there on the lower TF--several times when price broke through and retested, if only trading the daily, price immediately reversed the next day back to the PPZ. For example, October 31 and Dec 1.

My point was definitely not to get anyone to prove they can trade real time by identifying the setups as they happen--I know you guys who are experts at this do it all the time!! :-) I'm just saying that because I'm inexperienced, when price goes to a PPZ, I'm not accurate yet at reading what it's going to do next based on the information the market gives. With the help of you guys here I'm sure I will improve, it's just a process.

I suppose my point is that identifying the PPZ is the easy part, but then actually placing the trade is something I'm not yet confident at!

Thanks for the information and help Jaroo!!
  • #84,151
  • Dec 30, 2010 10:05pm Dec 30, 2010 10:05pm
Quoting Bemac
With absolute respect to Mike & Jim and...
I respectfully submit...

ALL PA since ~ Dec 15 is Tainted & will be until ~ Jan15th.

B
Good advice Bemac, thanks!
  • #84,152
  • Dec 30, 2010 10:05pm Dec 30, 2010 10:05pm
Quoting torontobboy2
leaving round numbers and confluence, moving average, classic pivots, and fibs apart....my question is regarding price action pivots.... i keep reading that look for price action confirmation around the ppz..

how to trade the ppz and what price action confirmation to look for? so if i have drawn my ppz based on daily price action...i drill down to 4h or 1h and look for price action.

by price action i mean i'm looking for beob, buob, pin bar or something of this sort to go long or short. is this what is considered 'confirmation' ? if it is confirmation...

Have you seen this post below ? The weekly PPZ on the Usd/Cad and looking for Daily PA for confirmation.


Quoting jarroo
Daily Usd/Cad example . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,153
  • Dec 30, 2010 10:13pm Dec 30, 2010 10:13pm
Quoting xmzhang
Some nice trades today, which I didn't take BTW except for the Ozzie, have a nice weekend you guys and galls ...........
Nice charts and use of multiple TFs!
  • #84,154
  • Dec 30, 2010 10:14pm Dec 30, 2010 10:14pm
Quoting 4X=0
TAINTED ???
I caught the swing down on the 15th, now on the way up.
with PA or sort of touch trade?
  • #84,155
  • Dec 30, 2010 10:20pm Dec 30, 2010 10:20pm
Jarroo's chart is a constant reminder to me of how, I should be thinking when looking at the charts.

How did you get that mindset, Jarroo?

Probably blood sweat and tears, like the big guy.
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  • #84,156
  • Dec 30, 2010 10:27pm Dec 30, 2010 10:27pm
Quoting Pinbar
...
How did you get that mindset, Jarroo?
Probably blood sweat and tears, like the big guy.
depending on how we approach/approached this business, more or less, we will be treading the same path.

A fulfilling 2011 to all
  • #84,157
  • Dec 30, 2010 10:28pm Dec 30, 2010 10:28pm
Quoting JoshDance
Perhaps the opportunities were there on the lower TF--several times when price broke through and retested, if only trading the daily, price immediately reversed the next day back to the PPZ. For example, October 31 and Dec 1.

My point was definitely not to get anyone to prove they can trade real time by identifying the setups as they happen--I know you guys who are experts at this do it all the time!! :-) I'm just saying that because I'm inexperienced, when price goes to a PPZ, I'm not accurate yet at reading what it's going to do next based on...

You mean this area in blue . .(chart).

Good eye there, Josh. Nice clear Support level . . Price breaks through and closes below . . then turns into Resistance. Looking for only Bearish PA once this occurred at the now Resistance level, .8650, on . .say . . the 4 hour or Hourly is a high probability trade imo. Or a touch trade with a 20-30 pip stop loss at the .8650 is also viable.

I think you are alot closer than you think Josh. .
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Indicators show the past. Price Action "Indicates" the future.
  • #84,158
  • Dec 30, 2010 10:30pm Dec 30, 2010 10:30pm
Quoting supremeChaos
depending on how we approach/approached this business, more or less, we will be treading the same path.

A fulfilling 2011 to all
I'd rather do away with the BLOOD & Tears, the sweat I can handle.

My new years resolution is to post charts so like Jarroo's even Jarroo will think they are his own!
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  • #84,159
  • Dec 30, 2010 10:31pm Dec 30, 2010 10:31pm
Quoting Pinbar
Jarroo's chart is a constant reminder to me of how, I should be thinking when looking at the charts.

How did you get that mindset, Jarroo?

Probably blood sweat and tears, like the big guy.

No, I didn't have to go through the blood, sweat and tears that James went through. He went through that for us . .He paid the price . . God bless him.

Keep at it, my brother . . .and you'll get there . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,160
  • Dec 30, 2010 10:38pm Dec 30, 2010 10:38pm
Quoting jarroo
No, I didn't have to go through the blood, sweat and tears that James went through. He went through that for us . .He paid the price . . God bless him.

Keep at it, my brother . . .and you'll get there . .


Good for you Jim & thanks to J16 for all his pain and suffering.

Man, he deserves his current life, he earned it and for many others also.

I always get that feeling when I hear him talk, this guy really has been to hell and back and sincerely does not want us to have to make that round trip.

That tone in the voice is something nobody can fake.
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