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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

  • #85,061
  • Jan 9, 2011 10:59pm Jan 9, 2011 10:59pm
How are pivot points established?
What is any ocean but a multitude of drops?
  • #85,062
  • Jan 9, 2011 11:15pm Jan 9, 2011 11:15pm
Quoting Xhale12
How are pivot points established?

Please click on the PPZ basics in my signature and follow the links to Jarroos PPZ posts and indeed, the Man himself James16's video on PPZ.
  • #85,063
  • Jan 9, 2011 11:45pm Jan 9, 2011 11:45pm
Quoting Be Cool
Sorry Jim, i didnt realise it was GbpNzd -i thought it was the one Mike took earlier.I agree with you 2.050 was still resistance on daily.But the 2.0375 level that had me confused.On daily this level was still support but our 4Hour PB off 2.050 couldnt close below 2.0375.Last night i read your back post when you and J16 was discussing a failed PB with a very near FTA below it.You and J16 seem to suggest placing order below the very near FTA.However it made me wonder -arent you afraid of false break?

Hey Be Cool,

That discussion came from this important post from James16 . ."This is Critical"

Quoting james16
YES!!!

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there . . . we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.


jim...

This applies to this set up perfectly, although I would like to see the 4 hour PB be a bit more bolder or bigger and a little less traffic.

A false break out may occurr, which would probably be caused from hitting its target(s).
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Indicators show the past. Price Action "Indicates" the future.
  • #85,064
  • Jan 9, 2011 11:52pm Jan 9, 2011 11:52pm
Quoting Pinbar
Many thanks Jarroo.

It is the eye you lent me, my friend.


Got to keep it polished & shiny to retain that Gleam it had, before you so kindly lent it to me!

Keep at it bro . .soon you won't even have to think to see'em.
Indicators show the past. Price Action "Indicates" the future.
  • #85,065
  • Jan 10, 2011 12:10am Jan 10, 2011 12:10am
Quoting slade1986
Woo Hooo!!! Lifetime member as of today.....
Lucky Bugger!
  • #85,066
  • Jan 10, 2011 12:11am Jan 10, 2011 12:11am
Hey Pb,

That 83.00 on the Usd/Jpy is back in play again. To bad that BEOB on the Daily had such a weak close. A strong close below the 83.00 would have been nice. It still could work out.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,067
  • Jan 10, 2011 12:20am Jan 10, 2011 12:20am
GBP/CHF looking good for short on day chart ,BRN 1.50 and 38.2 fibo

im wating for signal
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  • #85,068
  • Jan 10, 2011 1:03am Jan 10, 2011 1:03am
Quoting jarroo
So you think that the report is completed a few days before the release? Then some bold PA days before the release would make sense . . .insiders with an edge of knowing what others don't and taking a position.

Just curious when the report is actually completed, a fews days or a few weeks before. A few days would make sense . . . gathering and compling up the prior month's data takes time . .or maybe not . .
couldn't tell ya exactly... still waiting for PA in confluenced areas
Many choose unhappiness over uncertainty.
  • #85,069
  • Jan 10, 2011 1:06am Jan 10, 2011 1:06am
Quoting Dan Gilbert
couldn't tell ya exactly... still waiting for PA in confluenced areas
That's usually better then any report.
Indicators show the past. Price Action "Indicates" the future.
  • #85,070
  • Edited 3:10am Jan 10, 2011 3:10am | Edited 3:10am
no offence...but those having trouble understanding a pin bar...well here is one...the clearer the better

thats exactly what a pinbar returns you, if you go against it
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  • #85,071
  • Jan 10, 2011 3:50am Jan 10, 2011 3:50am
Quoting jarroo
Hey Pb,

That 83.00 on the Usd/Jpy is back in play again. To bad that BEOB on the Daily had such a weak close. A strong close below the 83.00 would have been nice. It still could work out.

Yes, I saw that yesterday and thought the same thing, I was going mention it then I thought, of course Jarroo knows.
  • #85,072
  • Jan 10, 2011 3:52am Jan 10, 2011 3:52am
Quoting torontobboy2
no offence...but those having trouble understanding a pin bar...well here is one...the clearer the better

thats exactly what a pinbar returns you, if you go against it

That is not exactly true...If you know when it is a fake out & going against them, can be very profitable.

Ghous, is the man for them.
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  • #85,073
  • Jan 10, 2011 4:09am Jan 10, 2011 4:09am
Quoting Pinbar
That is not exactly true...If you know when it is a fake out & going against them, can be very profitable.

Ghous, is the man for them.
Hey Pinbar, this would be a loss I think.
(If played the conventional way as he showed SL right above PB)
  • #85,074
  • Jan 10, 2011 4:22am Jan 10, 2011 4:22am
Quoting torontobboy2
no offence...but those having trouble understanding a pin bar...well here is one...the clearer the better

thats exactly what a pinbar returns you, if you go against it
I'm not impressed . .why don't you do something real clever and DELETE THAT and put up a chart that shows a clearer and better real PB.
Indicators show the past. Price Action "Indicates" the future.
  • #85,075
  • Jan 10, 2011 4:28am Jan 10, 2011 4:28am
Quoting Adilius07
Hey Pinbar, this would be a loss I think.
(If played the conventional way as he showed SL right above PB)

Not with the stop above the 61.8 & the entry at the 50.
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  • #85,076
  • Jan 10, 2011 4:30am Jan 10, 2011 4:30am
Quoting Pinbar
Not with the stop above the 61.8
I don't understand sorry. The entry should be done right on the close of that green IPB and the stop right above it. TP at the low... So this is a loss.
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  • #85,077
  • Jan 10, 2011 4:32am Jan 10, 2011 4:32am
Quoting Adilius07
I don't understand sorry. The entry should be done right on the close of that green IPB and the stop right above it. TP at the low... So this is a loss.

Don't you remember the fibo off the PB thing.
If the 61.8 breaks, most PBs are gone.

the fibo is actually drawn like this.and a lot of people use the 61.8 to put their stop behind so they don't take a full bar loss.
Ok, if shorted this bar at the 61.6 the SL above the 50 it would have been a winner.
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  • #85,078
  • Jan 10, 2011 4:40am Jan 10, 2011 4:40am
It is just how I am observing them and using the 61.8 of the bar for entry.

This is something I read a long time ago.


This is not how ghous trades them.

It is just something I thought of after reading that James16 will use the 61.8 of a PB for his SL.
He said that, if the 61.8 of the PB breaks the trade is gone.

I feel that we can reversely use this as an entry for an IPB.
  • #85,079
  • Jan 10, 2011 4:43am Jan 10, 2011 4:43am
Quoting Pinbar
Don't you remember the fibo off the PB thing.
If the 61.8 breaks, most PBs are gone.

the fibo is actually drawn like this.and a lot of people use the 61.8 to put their stop behind so they don't take a full bar loss.
Ok, if shorted this bar at the 61.6 the SL above the 50 it would have been a winner.
Ohh this is the first time is see something like this. Must have missed this technique. Cool thanks! Well for now I stay away from those setups, really too advanced for me. But still nice to see how they work!
  • #85,080
  • Jan 10, 2011 4:45am Jan 10, 2011 4:45am
Quoting Adilius07
Ohh this is the first time is see something like this. Must have missed this technique. Cool thanks! Well for now I stay away from those setups, really too advanced for me. But still nice to see how they work!

I agree Adi..I am just observing this on a back burner, right now.
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