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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

  • #86,741
  • Jan 23, 2011 10:19am Jan 23, 2011 10:19am
Quoting Greenhaze
Imo it makes no difference for You. If You use MM then You shouldnt bother with that. I would choose 50:1 and forget about it.
Quoting g_j_hook@yah

e.g. 1000 dollar account. : pip value 1 dollar per lot

a set up which demands a 50 pip stop with a leverage of 100-1 would cost you 50 dollars

with a 50-1 leverage it would cost you 100 dollars

with a 10-1 leverage it would cost you 500 dollars...see the logic?

jon

Thank you very much Greenhaze and Jon. I begin to understand. So really I will put the maximum leverage available and forget about it. Thanks
  • #86,742
  • Jan 23, 2011 10:22am Jan 23, 2011 10:22am
Quoting jarroo
Yes, something like that chap but more so on a Higher time frame level.
Hi everyone,

I have been following the thread whenever I can spare some time from my demanding day job. I thank everyone for contributing to this wonderful thread that helped me alot.
Just a quick q now to jarroo if i may. Yesterday you mentioned the first retracement to a BRN being playable . Did you mean the very first 15-30 (green circle) min chart retracements or the retarecement on 4H (pink circle) that will take around 24 hours
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  • #86,743
  • Jan 23, 2011 11:26am Jan 23, 2011 11:26am
Quoting Dan Gilbert
If price would have got to 1.28 I would have been good
Your expectation on this setup was very reasonable and very reachable.. The Size wasn't bad, the 1.2900 was acting as Res, off the 1.3 BRN . .It had a bit of traffic but it broke pretty hard, which is always a good sign on strong momentum.

Its not that you were looking for the 1.2750 or 1.2500 ( which I saw to be the other targets) or maybe you were . . but only after the breach of the 1.2800.

The failure of Price not reaching the 1.2800 probably had more to do with what you and Joel were talking about the other day . .its a cross pair, not Usd base. . . meaning if the same setup was on the Eur/Usd or Usd/Chf . .no problem hitting that target.

Just some thoughts,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #86,744
  • Jan 23, 2011 11:30am Jan 23, 2011 11:30am
Quoting Adilius07

If you look closer, right after I posted that chart Jarroo liked that setup also in general (he warned of the RN at 1.28 which price has not reached and reversed before it. So I believe it is just a setup that failed, maybe due to the size, maybe just because setups fail.
I agee with you Adilius . .it was part of the 10% that fail of the 90% that win.
Indicators show the past. Price Action "Indicates" the future.
  • #86,745
  • Jan 23, 2011 11:37am Jan 23, 2011 11:37am
Quoting g_j_hook@yah
heres one for Jarroo.
a daily IB sat on the broken resistance come support. nice location for a continuation setup.Whichever way it went i felt we would get a pretty strong move.Obvious FTA at the 136.00 level.
closed 2/3rd and have left rest open.

jon

Yeah that Daily IB was the only PA formation that was part of the bigger story. I would have liked that IB to be a lot small . .meaning I like IBs to be more of a compression signal . .tigher compression the bigger the boom . .so to speak . .lol

Even better would have been Bullish PA to fit the bigger story of Resistance turning into Support.
Indicators show the past. Price Action "Indicates" the future.
  • #86,746
  • Jan 23, 2011 11:43am Jan 23, 2011 11:43am
Quoting g_j_hook@yah
how about....

Mike Inside the Outside Bar...
Price, Pins n Pips..
Takin Pips from PA...
Jims Pins n Price...
Through Jarroos PPZs...
Up,Close,Down,Bounce..Jarroo on Price...
Trade Along With Jon...Basic PA Methods...
Pinbar on Pinbars...
You cant Loose with Ghous...
No More Losses With Ghous' Method...
Trading the Pin in Pinocchio....
Pinocchio cant lie now!!...



ok thats enough...
jon

. .those are pretty good . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #86,747
  • Jan 23, 2011 11:45am Jan 23, 2011 11:45am
Quoting Ifmyante

I've taken out all PPZ's and BRN's, only for the sake of visual clarity.



I think this is a big mistake, friend.
Indicators show the past. Price Action "Indicates" the future.
  • #86,748
  • Jan 23, 2011 12:02pm Jan 23, 2011 12:02pm
Quoting Adilius07
If you don't mind please. I know it might sound stupid...

But which leverage is preferable to use in Oanda? 10:1 or 50:1 ?
For me risking 1% the dollar amount stays the same but with different leverage the different margin is used. (less levarage more dollars margined for the trade).

So it is best to you most levarage? (so I will have more unmargined money?)
you can always use as high as you can get, IF you are risking 1% you are being smart and you can use leverage to your advantage.

Leverage simply effects the amount of margin you have to put aside. The higher the leverage the lower the margin(this is why it gets abused). But by having a higher leverage and keeping your REAL risk per trade down(ie 1% risk per trade) you don't even have to keep your full funds with your broker(just to help extra safe guard). This is one way to have leverage work for you and not abuse it.

Hope everyone had a nice weekend
Mike
  • #86,749
  • Jan 23, 2011 12:12pm Jan 23, 2011 12:12pm
Quoting mbqb11
you can always use as high as you can get, IF...
Thanks Mike! I will choose the maximum leverage available.
Oh and I will begin with 0.5% and stick with it for a while.
I think that's better for me. Thanks.
  • #86,750
  • Jan 23, 2011 12:16pm Jan 23, 2011 12:16pm
Quoting jarroo
Your expectation on this setup was very reasonable and very reachable.. The Size wasn't bad, the 1.2900 was acting as Res, off the 1.3 BRN...

thanks, J. I am happy I took it, seriously.

I just think more people need to post losing trades like that one because it's part of trading.
Many choose unhappiness over uncertainty.
  • #86,751
  • Jan 23, 2011 12:23pm Jan 23, 2011 12:23pm
Quoting Pinbar
Yes, I see what you mean about that post.
I think this is basically the same as what Jarroo has so kindly been teaching us extensively. Although J16 seems to work on the daily tf a lot more and Jarroo the weekly.
But, I feel the principle is exactly the same. Also, I feel J16 mainly sticks to the daily tf in those charts and videos, to prevent confusing new people with switching back and fourth between TFs.
I believe that nwo-trader was referring to your post about the width of PPZ levels using a James16 chart as an example. I too had a post about the same pair and level concerning the width of PPZ levels.

Here:
Quoting jarroo
And guess where I got the defintion from . . James16 . . lol.

Let me illustrate this from Jim's point of veiw and he can tell me if I'm off track or not.

PivotPointZones are made up of Support and Resistence levels. S/R levels can come together and be on top of each other and be very tight as Jim has shown a few posts back. Or they can be wide in range.
The area between the Sup and Res levels is the PPZ.


Let's look at the Usd/Jpy prior to the up move through Resistence. An obvious Res. level. (Chart 1)...
Looking back on it now, I see that I have grown in my outlook on how I qualify this S/R levels. (Charts)

I like the Daily too Pb, I just like the Weekly levels as seen on the Daily
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Indicators show the past. Price Action "Indicates" the future.
  • #86,752
  • Jan 23, 2011 12:24pm Jan 23, 2011 12:24pm
Quoting Adilius07
Thanks Mike! I will choose the maximum leverage available.
Oh and I will begin with 0.5% and stick with it for a while.
I think that's better for me. Thanks.
That's smart Adi. You know a lot more then you think you do. Most have no idea what position sizing is, risk mgmt etc. So leverage is like giving a kid a bag full of open candy.

Mike
  • #86,753
  • Jan 23, 2011 12:26pm Jan 23, 2011 12:26pm
Quoting Crane80
Hi everyone,

I have been following the thread whenever I can spare some time from my demanding day job. I thank everyone for contributing to this wonderful thread that helped me alot.
Just a quick q now to jarroo if i may. Yesterday you mentioned the first retracement to a BRN being playable . Did you mean the very first 15-30 (green circle) min chart retracements or the retarecement on 4H (pink circle) that will take around 24 hours
hey Crane

Welcome bud

Not going to answer for Jarroo but yes essentially once a BRN(or any other crucial short and long term market area) is broken(say a strong close above), generally speaking price will find support or try to at those areas(as shown on your chart). it is a very interesting(and crucial if you ask me) dynamic to watch at all important areas(not just BRNs).

Again welcome hope you will post more
Mike
  • #86,754
  • Jan 23, 2011 12:31pm Jan 23, 2011 12:31pm
Quoting Dan Gilbert
thanks, J. I am happy I took it, seriously.

I just think more people need to post losing trades like that one because it's part of trading.
Quoting Dan Gilbert
I have been applying "This is Critical" in a very strong way lately, and feel so much better about how I initially set up my stops.

It's like a huge breath of fresh air.

Always pay attention to the zones, and MOMENTUM.



I agree, Dan . . . and before the fact setups as well.

I would take that one too . .with the same target . .again

Also with the same trade management in mind . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,755
  • Jan 23, 2011 12:43pm Jan 23, 2011 12:43pm
Quoting Crane80
Hi everyone,

I have been following the thread whenever I can spare some time from my demanding day job. I thank everyone for contributing to this wonderful thread that helped me alot.
Just a quick q now to jarroo if i may. Yesterday you mentioned the first retracement to a BRN being playable . Did you mean the very first 15-30 (green circle) min chart retracements or the retarecement on 4H (pink circle) that will take around 24 hours

I'm not sure I understand your question Crane. Are you saying the first back or retracement to a BRN??
Indicators show the past. Price Action "Indicates" the future.
  • #86,756
  • Jan 23, 2011 1:01pm Jan 23, 2011 1:01pm
Quoting jarroo
I'm not sure I understand your question Crane. Are you saying the first back or retracement to a BRN??
Hi Jarroo,

I couldn't find the exact post. But it was like '' When an important PPZ is broken and the price retraces back to it, it bounces back high enough (bullish) to allow you manage a trade with a TT entry and a close SL.'' and you referred to one of J16 charts on EURUSD.

My question is what you were referring (The first back or retracement)?

Thanks
Crane
  • #86,757
  • Jan 23, 2011 1:03pm Jan 23, 2011 1:03pm
Quoting jarroo
I think this is a big mistake, friend.
No Jaroo. This thread has taught me to always watch PPZ's.

I've just had to reinstall my platform(crazy gaps all over the place), and have spent half the day putting in PPZ's and BRN's before anything else.
  • #86,758
  • Edited 2:00pm Jan 23, 2011 1:46pm | Edited 2:00pm
Quoting Crane80
Hi Jarroo,

I couldn't find the exact post. But it was like '' When an important PPZ is broken and the price retraces back to it, it bounces back high enough (bullish) to allow you manage a trade with a TT entry and a close SL.'' and you referred to one of J16 charts on EURUSD.

My question is what you were referring (The first back or retracement)?

Thanks
Crane
Oh I see . .Yes . for a first time back. .. I would like to see Price touch or piercing the 1.3. and at least a couple other supporting confluences at the 1.3 . . be they on the lowertime frames or not.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,759
  • Jan 23, 2011 1:57pm Jan 23, 2011 1:57pm
Quoting Ifmyante
No Jaroo. This thread has taught me to always watch PPZ's.

I've just had to reinstall my platform(crazy gaps all over the place), and have spent half the day putting in PPZ's and BRN's before anything else.
That's cool . .I thought you were talking about the GMMAs, Guppy trading.

The BRNs and PPZs can only help this type of trading.
Indicators show the past. Price Action "Indicates" the future.
  • #86,760
  • Jan 23, 2011 2:02pm Jan 23, 2011 2:02pm
Are you ready for some Football!!!

Later
Indicators show the past. Price Action "Indicates" the future.
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