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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

  • #84,161
  • Dec 30, 2010 10:43pm Dec 30, 2010 10:43pm
Quoting Pinbar
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.

James is the real deal . .he's one of the good guys even more so than we know.

. .although someone said the he sounds like Dr. Phil and I have to admit I laughed out load . .lol . .But I wouldn't say it to his face . . .have you seen the arms on this guy . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #84,162
  • Dec 30, 2010 10:52pm Dec 30, 2010 10:52pm
Hey Pb . .

Nice chart on the Usd/Jpy

What do you think of this on the Weekly?
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Indicators show the past. Price Action "Indicates" the future.
  • #84,163
  • Dec 30, 2010 10:59pm Dec 30, 2010 10:59pm
Quoting jarroo
James is the real deal . .he's one of the good guys even more so than we know.

. .although someone said the he sounds like Dr. Phil and I have to admit I laughed out load . .lol . .But I wouldn't say it to his face . . .have you seen the arms on this guy . . .lol

Yeah, you can tell he has pumped Iron a lot when he was younger...!
  • #84,164
  • Dec 30, 2010 11:05pm Dec 30, 2010 11:05pm
Quoting Pinbar
Yeah, you can tell he has pumped Iron a lot when he was younger...!
hehe
  • #84,165
  • Dec 30, 2010 11:06pm Dec 30, 2010 11:06pm
Quoting jarroo
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. .
Thank you for the analysis jarroo--I appreciate the advice here more than you know.
  • #84,166
  • Dec 30, 2010 11:06pm Dec 30, 2010 11:06pm
Quoting supremeChaos
with PA or sort of touch trade?
gee wizz boss i think a little bit of both

cant say one or the other 100% of it
  • #84,167
  • Dec 30, 2010 11:11pm Dec 30, 2010 11:11pm
Quoting jarroo
Hey Pb . .

Nice chart on the Usd/Jpy

What do you think of this on the Weekly?

Actually, I prefer the 82.37 area on my FXDD live feed.

EDIT: Actually, I remember you saying a long time ago, "We like to find the areas of support and resistance around a PPZ being Close together"!
Incredibly chart Jarroo.
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  • #84,168
  • Dec 30, 2010 11:20pm Dec 30, 2010 11:20pm
Quoting Pinbar
Actually, I prefer the 82.37 area on my FXDD live feed.

The 82.37 can work too, but I like the 82.50 since there is no BRNs around.

Go to your IBFX feed and but this on your chart. Then go to the 4 hour and what do you see?
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Indicators show the past. Price Action "Indicates" the future.
  • #84,169
  • Dec 30, 2010 11:21pm Dec 30, 2010 11:21pm
I think I found a similar one on USD/CHF
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  • #84,170
  • Edited 11:34pm Dec 30, 2010 11:23pm | Edited 11:34pm
Quoting jarroo
The 82.37 can work too, but I like the 82.50 since there is no BRNs around.

Go to your IBFX feed and but this on your chart. Then go to the 4 hour and what do you see?

Ok, hang on a sec, I moved to my laptop.
need to reboot the mainframe.


EDIT: Ah, a nice PB with RN and 38.2 fibo confluence.

I think, I may have to revise my New Years resolution for around 2020.


EDIT: I think it may be the 61.8 area. Back on the laptop as it is freezing in the other room.
..............


Oops, the fibo is useless as price was not there when the Pb occurred.
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  • #84,171
  • Dec 30, 2010 11:36pm Dec 30, 2010 11:36pm
Quoting Pinbar
Ok, hang on a sec, I moved to my laptop.
need to reboot the mainframe.


EDIT: Ah, a nice PB with RN and 38.2 fibo confluence.

I think, I may have to revise my New Years resolution for around 2020.


Oops, the fibo is useless as price was not there when the Pb occurred.

Forget the fibs for now. Just look at the Support turning into Resistance.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,172
  • Dec 30, 2010 11:40pm Dec 30, 2010 11:40pm
Maybe EU is a good one.
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  • #84,173
  • Dec 30, 2010 11:43pm Dec 30, 2010 11:43pm
Quoting jarroo
Forget the fibs for now. Just look at the Support turning into Resistance.

Yes, It is a clear example of that occurring with a very tight flip area, it means a small stop and possibly a large move.

Edit: Not possibly, it was a large move.
  • #84,174
  • Dec 30, 2010 11:48pm Dec 30, 2010 11:48pm
Quoting Pinbar
Yes, It is a clear example of that occurring with a very tight flip area, it means a small stop and possibly a large move.

Edit: Not possibly, it was a large move.


Yes that's correct.


Now concerning your EU chart . . I want you to go to the Daily and Weekly TFs and show me where Price turned from Support to Resistance once Price broke through and closed below.

I gotta go . .I want to see those charts when I get back .

Ok? . .good . .

later buddy,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #84,175
  • Dec 31, 2010 12:20am Dec 31, 2010 12:20am
Quoting jarroo
Yes that's correct.


Now concerning your EU chart . . I want you to go to the Daily and Weekly TFs and show me where Price turned from Support to Resistance once Price broke through and closed below.

I gotta go . .I want to see those charts when I get back .

Ok? . .good . .

later buddy,

Jim

Okidoki.....It will be there when you get back....No rest for the wicked as they say.
  • #84,176
  • Dec 31, 2010 2:14am Dec 31, 2010 2:14am
OK, as i read it more and look at charts, it appears to make a bit more sense.

A simple plan would be to draw PPZ on Weekly charts around current price level and track closing price on daily basis.
If the price keeps closing above ppz we look for bullish price action, if it closes below we look for bearish price action.
We than manage the trade based on FTA which could possibly be previous bar low/high nearby ppz levels.
Once we approach FTA we monitor the action to see if its Take Profit time or Move stop to BE time or Take partial Profit time.
If the trade faces heavy res or support and doesn’t trigger we kill it.

If it triggers and goes negative, we have to have a plan as to when to cut our losses which could be support/res level we were expecting the price to respect.
Trading is a test match not a Twenty20.
  • #84,177
  • Edited 4:27am Dec 31, 2010 2:28am | Edited 4:27am
Quoting decentchap
OK, as i read it more and look at charts, it appears to make a bit more sense.

A simple plan would be to draw PPZ on Weekly charts around current price level and track closing price on daily basis.
If the price keeps closing above ppz we look for bullish price action, if it closes below we look for bearish price action.
We than manage the trade based on FTA which could possibly be previous bar low/high nearby ppz levels.
Once we approach FTA we monitor the action to see if its Take Profit time or Move stop to BE time or Take partial Profit time....

Sounds good DC.

Can you show us an example of this on EUR/GBP?

I know it is nerve raking when you post a chart like this but it gets easier and actually the pressure helps. Look at the question I got from Jarroo a few posts back. My knees are still knocking together. Klunk, Glang, CliiiiiiiiiiiiiiiiiiiiiiiiiiiiinK!

Think I need a glass of port....While the cats away, the mice will play.
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  • #84,178
  • Dec 31, 2010 2:38am Dec 31, 2010 2:38am
happy new year my friends!
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  • #84,179
  • Edited 2:51am Dec 31, 2010 2:41am | Edited 2:51am
Quoting Adilius07
happy new year my friends!

Is it already New Year where you are ADI?

Still got 6 hours 20 mins here in Japan.

Or are you going to be too drink to post later.....?

Either way, Happy New year man..May the clouds slip from our eyes and the light bulb flicker on brightly inside our heads.
  • #84,180
  • Dec 31, 2010 2:59am Dec 31, 2010 2:59am
Quoting Pinbar
Or are you going to be too drink to post later.....?
Exactly Already got me TWO of these
http://www.alko-torg.ru/xen03.jpg

Need to take all the charts out of my head for a few days at least
See you all in the next year!!!!
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