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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

  • #84,281
  • Jan 2, 2011 6:30am Jan 2, 2011 6:30am
Quoting Tedge UK
hi Guys,loving the way we learn and trade here,big thankyou to all.I was thinking of joining J16 PF,how would it benefit me?I suppose what I mean to say is (without sounding rude)is there more to learn on the PF than there is to learn here?


Sorry if this question has been asked before.T
hi Guys,loving the way we learn and trade here,big thankyou to all.I was thinking of joining J16 PF,how would it benefit me?I suppose what I mean to say is (without sounding rude)is there more to learn on the PF than there is to learn here?


Sorry if this question has been asked before.T


Hi Guys I wrote this yesterday but because im a junior dosnt get posted straight away and must have got mislaid.Thanks
  • #84,282
  • Jan 2, 2011 6:31am Jan 2, 2011 6:31am
Quoting decentchap
Hi Steve as per your understanding, what causes ppz? I know its to do with orderflow and price memory but can you expand on that?
Thanks
DC

That is an area, that I am not too sure of apart from order flow, market memory and psychologically strong areas such as BRNs.

To be honest, it is something that doesn't really concern me, I mean, we just need to be able to use those areas.

Maybe one of the seniors can explain it well.
  • #84,283
  • Jan 2, 2011 7:52am Jan 2, 2011 7:52am
Hi all,

Here are the ppz levels that i have come up with for some pairs. feel free to comment
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Trading is a test match not a Twenty20.
  • #84,284
  • Jan 2, 2011 7:53am Jan 2, 2011 7:53am
Interesting pb on GBPCAD - I'm a bit wary tho bcos its Xmas week.

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  • #84,285
  • Jan 2, 2011 8:14am Jan 2, 2011 8:14am
Quoting stewrigh
Interesting pb on GBPCAD - I'm a bit wary tho bcos its Xmas week.

Attachment
please see chart for my opinion
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Trading is a test match not a Twenty20.
  • #84,286
  • Jan 2, 2011 8:33am Jan 2, 2011 8:33am
Hey decentchap!Here is my personally interpretation of ppz.As I see the market as a battle between buyers and sellers,I see ppz more as pressure price zone,where buyers/sellers are trying to put pressure in order to win/defend the battle.As market is made by human beings and their emotions,the ppz are these zone where the traders (big players)take their decisions/risks to buy,sell,the zones where they are satisfy and protect their profit/losses.That's why the most of ppz are around BRN an VBRN and very often you will hear between traders the term psychological levels.
Nothing personal,just business
  • #84,287
  • Jan 2, 2011 8:56am Jan 2, 2011 8:56am
Quoting decentchap
please see chart for my opinion
Yep, Theres a couple of no no's for me - It's CT and Xmas.

So it's a pass - shame tho cos it looks beautiful.

On the other hand maybe I'm over analysing - with tight stops it may be worth a punt on Tues - think I'll watch PA very closely.
  • #84,288
  • Jan 2, 2011 9:00am Jan 2, 2011 9:00am
Quoting stewrigh
Interesting pb on GBPCAD - I'm a bit wary tho bcos its Xmas week.

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Looking at Daily and 4h I feel the same way >>>need some more PA to confirm for me
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  • #84,289
  • Jan 2, 2011 9:27am Jan 2, 2011 9:27am
Quoting Pinbar
Thanks Jarooo.

Sure Jarroo, you can do whatever you like with it.
It would be an honor to have one of my charts on Jaroo's wall, I can't think of a greater honor.
I am trying to work out why you like it so much....I imagine it is the tight PPZ like the pencil and lead we talked about a long time ago.



Just put the charts together and it looks like this area is some kind of hidden mine field. Historically, we can see a similar reaction in 1992 and 1995.

I guess Market memory, is rules.
Why I liked it so much? . . .No, it wasn't the pencil/lead thing. It was this part on your analysis on the Weekly. . .(Your chart).

You noticed the clear level of Support, "Almost three bar lows". And I believe you saw that the preceeding bars did not close below this clear Support level (although you didn't note them).

Then Price Breaks Through and Closed Below and turned that level , 1.3425ish, into Resistance. . . . beautiful. That's what made it wall art worthy. Oh yeah, your an artist . .that makes sense.

Maybe you saw this on my Daily Eur/Gbp (Eur/Gbp chart), it looks familar . .doesn't it? . . You nailed it.

Now let's get back to what started this all . .the current Eur/Usd . .
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Indicators show the past. Price Action "Indicates" the future.
  • #84,290
  • Jan 2, 2011 9:59am Jan 2, 2011 9:59am
Quoting jarroo
Now let's get back to what started this all . .the current Eur/Usd . .

Looking at past PPZ levels are important, it is evidence that Price reacted a certain way at a given level and may react the same in the future.

However, I believe that the most recent PPZ levels give a stronger reaction to Price. If they happen to line up with past PPZ levels, all the better.

This appears to be the situation with the current Eur/Usd. The 1.3400-1.3450 has proven to be a key PPZ level currently and in the past. This PPZ level is currently acting as Resistance because Price failed to close above this level on both the Weekly and Daily.

Beaish PA is what I would be looking for on the EU.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,291
  • Jan 2, 2011 10:07am Jan 2, 2011 10:07am
Quoting decentchap
Hi all,

Here are the ppz levels that i have come up with for some pairs. feel free to comment

Hey decentchap,

Are those 4 Hour PPZ levels or Daily PPZ levels on the 4 Hour?

I see some on the Daily.
Indicators show the past. Price Action "Indicates" the future.
  • #84,292
  • Jan 2, 2011 10:14am Jan 2, 2011 10:14am
Quoting jarroo
Hey decentchap,

Are those 4 Hour PPZ levels or Daily PPZ levels on the 4 Hour?

I see some on the Daily.
I started putting them on daily but than for some charts which i want to monitor closely I went to 4hr tf and refined them a bit. Also added 4 hr ppz if they are nearby and easy to spot.

Is that a good approach?
Trading is a test match not a Twenty20.
  • #84,293
  • Jan 2, 2011 10:23am Jan 2, 2011 10:23am
Quoting decentchap
I started putting them on daily but than for some charts which i want to monitor closely I went to 4hr tf and refined them a bit.

Is that a good approach?
Yes , its a good approach. Let's take the Gbp/Cad from your post here:

Quoting decentchap
please see chart for my opinion
The 1.5500 is a BRN and a good PPZ level. One thing good about BRNs is that they are on all time frames . .a little joke there . .

Here is what I have on the Daily. (chart). The 1.5500 looks to be turning back into Support.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,294
  • Jan 2, 2011 10:27am Jan 2, 2011 10:27am
Quoting fxgroup
Hey decentchap!Here is my personally interpretation of ppz.As I see the market as a battle between buyers and sellers,I see ppz more as pressure price zone,where buyers/sellers are trying to put pressure in order to win/defend...
thanks mate for your response. that does make sense. Here is my view based on some reading here and there..
I guess there are lot of BIG orders around these psychological levels. If there are enough buy orders the price will break the res and shoot off.
The reason why we see a retest is because the big orders don't get filled in at one time so traders have to feed in their orders which may result in break of resistance -retest - and off we go!
The reverse would happen if there were lot of sell orders.
And if there are aren't enough orders than the price might just linger around there for a bit and wait for orders to build up - which probably results in a breakout after a period of consolidation.
Trading is a test match not a Twenty20.
  • #84,295
  • Jan 2, 2011 10:31am Jan 2, 2011 10:31am
Quoting Adilius07
A few months ago I saw some super cool video posted here. It was about some guy jumping with a "flying siut". It was so cool I want to show it to my brother who is into these things like banji jumping etc... Was searching for an hour an cannot find it. If anyone remember at least who's post was it please tell me. Thank you!
I think it was jaroo who posted that one. Something to do with RAC.
  • #84,296
  • Jan 2, 2011 10:33am Jan 2, 2011 10:33am
Quoting fxtsun
I think it was jaroo who posted that one. Something to do with RAC.

Was it this one . .

http://www.wimp.com/suitdemo/
Indicators show the past. Price Action "Indicates" the future.
  • #84,297
  • Jan 2, 2011 10:36am Jan 2, 2011 10:36am
Quoting jarroo
Was it this one . .

http://www.wimp.com/suitdemo/
Oh yea.

I think Mike got sick from that
  • #84,298
  • Jan 2, 2011 10:37am Jan 2, 2011 10:37am
Quoting fxtsun
Oh yea.

I think Mike got sick from that
The last 10 seconds is freaking wild.
Indicators show the past. Price Action "Indicates" the future.
  • #84,299
  • Jan 2, 2011 10:40am Jan 2, 2011 10:40am
Quoting fxtsun
I think it was jaroo who posted that one. Something to do with RAC.
Quoting jarroo
Was it this one . .

http://www.wimp.com/suitdemo/

Yes!!! Thanks so much! This is so awesome!!!
  • #84,300
  • Jan 2, 2011 11:01am Jan 2, 2011 11:01am
Quoting chriskins
Hi torontoboy,

I have only read Pring on Price patterns and it is excellent imho. It covers all the support and restisstance an patterns including pin bars etc. He also talks about confluence, almost required reading for this stuff.

Chris
Hey Chris

Welcome I see people are jumping in to help

I love PonPrice patterns. But one thing you will notice as you work your way through this thread how different James techniques are from Mr. Prings. For example the pinbar as taught by Pring is almost unrecognizable in the way and manner in which James has transformed it. Great book though I agree, one of the only i recommend .

Best of luck in 2011
Mike
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