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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

  • #86,001
  • Jan 16, 2011 11:17pm Jan 16, 2011 11:17pm
Quoting spookie94
Has anyone seen this as a possiblity?
Close right on the VBRN.
Good... Another BUOB on the Weekly.

I would be looking for two PAs on this pair this week.

1. Inside Bar @ 1.35. In case it is formed, it might even be an I4B. But then price has not been consolidating at this area.

2. Retracement to 1.3325 - Previous Bar High on the Weekly TF and then for some long opportunities there.

0908
  • #86,002
  • Jan 16, 2011 11:21pm Jan 16, 2011 11:21pm
It almost did suck. The feed spiked on some other pairs also. Triggered a pending sell stop order then went back up to my s/l for a nice loss all in a fraction of a sec. They were very fair about it and credited my account.
  • #86,003
  • Jan 16, 2011 11:32pm Jan 16, 2011 11:32pm
Quoting DBallerz
Where are the videos?

I think Ifmyante was talking about the PF videos,

. . but the the guest videos can keep you busy for awhile.

http://www.james16group.us/Guests/guestmaterial.html
Indicators show the past. Price Action "Indicates" the future.
  • #86,004
  • Jan 16, 2011 11:38pm Jan 16, 2011 11:38pm
Quoting xmzhang
Thanx J, you give me to much credit, I had and still have a great teacher from whom I've learned so much

Thanks xmz . .

That post of yours gets better and better every time I read . .which has been several time now . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,005
  • Jan 16, 2011 11:42pm Jan 16, 2011 11:42pm
Quoting stoli7188
Haven't posted on this thread in a long time but wanted to pop in since my last post saying I was taking time to work on my trading (http://www.forexfactory.com/showpost...ostcount=39053) and just say thank you.

Been on the trading journey for close to 4 years now. I have certainly realized this is what I want to do and thanks to stumbling upon this thread some 3 years ago I was able to eliminate confusion and stress from trading and actually learn what this business was really about.

Having done massive amounts of testing...
Wow . .cool post . . .keep in touch, stoli . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,006
  • Jan 16, 2011 11:51pm Jan 16, 2011 11:51pm
Quoting jarroo
I think Ifmyante was talking about the PF videos,

. . but the the guest videos can keep you busy for awhile.

http://www.james16group.us/Guests/guestmaterial.html

I may have burned up the majority of James' bandwidth from re-watching all those videos 5x each

!
Many choose unhappiness over uncertainty.
  • #86,007
  • Jan 16, 2011 11:54pm Jan 16, 2011 11:54pm
Quoting Dan Gilbert
I may have burned up the majority of James' bandwidth from re-watching all those videos 5x each

!

I know the feeling . . lol

What's even cooler . .for me at least . .was viewing them after some time has past . like 6-8 months and seeing things I didn't see before . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,008
  • Jan 16, 2011 11:56pm Jan 16, 2011 11:56pm
Quoting crusen
Would love to hear different perspectives from some of the very experienced traders on the following:

When I see all the necessary confluences to take a trade ON A FIRST PULLBACK to S/R, I am all over it. For example:



But when there is some sideways action or a minor trend into S/R I usually pass even though all other confluences are being met (trading into direction of major trend, super S/R and large/obvious price action) It seems that there will be too many trouble areas if it not the first pullback.
Following chart is one example of...

Hey crusen . .Welcome.

I have notice this too about the first time back to Support or Resistance once the break through (and close) occurrs. But you can see how well that PB worked out, confirming the level still acting as Resistance.

Nothing wrong about being picky . . nice charts btw . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,009
  • Edited 1:09am Jan 17, 2011 12:03am | Edited 1:09am
Quoting jarroo
Thanks xmz . .

That post of yours gets better and better every time I read . .which has been several time now . .

Yes, I just re read it and he sums it up very well.

Good for you Xmz.
  • #86,010
  • Jan 17, 2011 12:05am Jan 17, 2011 12:05am
Quoting Pinbar
I may possibly have found another reason Mike doesn't like that daily EU PB apart from bar size.

Remember this post Pb, add this level too. Price didn't close above that . . still Resistance.


Quoting Pinbar
You could be right.This is the subjectivity of PPZ, perhaps.

This morning, I am looking at it on my desktop and the IBFX feed and perhaps this is better than yesterdays PPZ?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #86,011
  • Jan 17, 2011 12:24am Jan 17, 2011 12:24am
Quoting jarroo
Nice charts, Pb.


Notice on the Weekly at the 1.5310 ish level (in white). No bar closed below it and lines up nicely with the bar lows in blue. Then price breaks through and closes below . (Weekly chart)

But your right on . . on the Daily, those bar Lows in green are definitely in play to support some Bearish PA.

Notice that if bearish PA develops at the Yellow areas I marked, they will be at a swing high.

Good eye . .Steve.
I would like to see Daily close(s) above the 1.5310 for more bullish movement . maybe to the 1.5500.

Or Daily close(s) below the 1.5310 for some bearish movement to the 1.5150.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,012
  • Edited 1:29am Jan 17, 2011 12:44am | Edited 1:29am
Quoting Pinbar
Dan, could you explain a little more about the "Not quite feeling it".

The 86.70 area looks a bit naughty but, I can see the nice area of support with that consolidation box, supporting your PB.

Also, could you explain why you think this is going to work out against the previous BEOB that seems much larger in comparison to the PB?

EDIT: I mean Jarroo has taught us that a retrace to the previous bar low of a BEOB is common and that is just about where we are right now, is it not.

Thanks in advance
I wouldn't call it a Theory . .its more of a Theorem . .a demonstrable truth or logic that once Price breaks through (and closes above) Resistance, it will turn into Support (and vice versa).

This can come about before or after the break . .in the case of Outside Bar's previous bar Highs/Lows.

If Price can stay above the Support level, 86.00-85.75 . .I like the chances of the Weekly Chf/Jpy PB.

Also the prior bar, the BEOB, hit its target . . the 85.00. I look at this to be in more favor for the Weekly PB to succeed.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #86,013
  • Jan 17, 2011 12:57am Jan 17, 2011 12:57am
Quoting Pinbar
Can't make my mind up about EUR/CAD...Any thoughts folks?

Weekly BUEOB, largest bar in the current down trend.
Daily PB but the close is outside the eye of the previous bar.

Hmmmm, perhaps a nice pullback to the 50 area with some definitive bullish PA would work out.

Keep an eye on that Daily PB . .Pb ..
Indicators show the past. Price Action "Indicates" the future.
  • #86,014
  • Jan 17, 2011 1:02am Jan 17, 2011 1:02am
Quoting jarroo
Remember this post Pb, add this level too. Price didn't close above that . . still Resistance.

Its stuck between a rock & hard place.

Mike didn't like the bearish PB someone posted, me neither actually.

I didn't like the close of that daily PB, it wasn't bearish and not only that but it seemed a bit more DOJI like than a PB. As well as having a weekly BUOB to contend with.

Got to run, will post about the GBP/CHF later

Thanks Jarroo I love that chart.
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  • #86,015
  • Jan 17, 2011 1:09am Jan 17, 2011 1:09am
Quoting Pinbar
Its stuck between a rock & hard place.

Mike didn't like the bearish PB someone posted, me neither actually.

I didn't like the close of that daily PB, it wasn't bearish and not only that but it seemed a bit more DOJI like than a PB. As well as having a weekly BUOB to contend with.

Got to run, will post about the GBP/CHF later

Thanks Jarroo I love that chart.


You and Mike are right (and ghous). .there is no clear bearish PA at this level.

But the level is clearly Resistance on the Weekly and Daily at the 1.3400-1.3450. We won't be surprised if Price goes down.
Indicators show the past. Price Action "Indicates" the future.
  • #86,016
  • Jan 17, 2011 1:13am Jan 17, 2011 1:13am
Quoting Pinbar
Its stuck between a rock & hard place.

Mike didn't like the bearish PB someone posted, me neither actually.

I didn't like the close of that daily PB, it wasn't bearish and not only that but it seemed a bit more DOJI like than a PB. As well as having a weekly BUOB to contend with.

Got to run, will post about the GBP/CHF later

Thanks Jarroo I love that chart.

Show me on the Weekly and Daily where Price did not close above in . .say . . the last 7 weeks. (Euro)
Indicators show the past. Price Action "Indicates" the future.
  • #86,017
  • Jan 17, 2011 1:16am Jan 17, 2011 1:16am
Quoting jarroo
I wouldn't call it a Theory . .its more of a Theorem . .a demonstrable truth or logic that once Price breaks through (and closes above) Resisance, it will turn into Support (and vice versa).

This can come about before or after the break . .in the case of Outside Bar's previous bar Highs/Lows.

If Price can stay above the Support level, 86.00-85.75 . .I like the chances of the Weekly Chf/Jpy PB.

Also the prior bar, the BEOB, hit its target . . the 85.00. I look at this to be in more favor for the Weekly PB to succeed.

Ahhhh, now that is it....Something was starting to bug me about the BEOB but, I couldn't put my finger on it. I know Dan is a good trader and he wouldn't just ignore that BEOB. Although, Dan was more into the BEOB not having real solid resistance above it than it hitting its target and spending its fuel.
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  • #86,018
  • Jan 17, 2011 1:18am Jan 17, 2011 1:18am
Quoting jarroo
Show me on the Weekly and Daily where Price did not close above in . .say . . the last 7 weeks.

On EUR/USD?

Got to run brb.
  • #86,019
  • Jan 17, 2011 1:19am Jan 17, 2011 1:19am
Quoting Pinbar
On EUR/USD?

Got to run brb.

Yes . . sorry.


gotto go myself.
Indicators show the past. Price Action "Indicates" the future.
  • #86,020
  • Edited 2:08am Jan 17, 2011 1:53am | Edited 2:08am
Quoting joelcf
Draw enough lines on a chart and eventually price will bounce off one of them
This reminds me of a system I once created: I drew every possible trendline from way back to 1900 until my chart looked like a spiderweb (that's what I called my new "system"). I was amazed how price reacted at all those lines. It seemed like I found the holy grail. I stopped using it as soon as I realized that every trade went right into support or resistance. LOL!

I wish all you guys and gals a great trading week
Hans
Thanks J16, Sam Seiden, Udine and Jacko
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