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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

  • #86,781
  • Jan 23, 2011 9:45pm Jan 23, 2011 9:45pm
Quoting artov
This one's for Dan.
I would love to see this break south as I got in at the 8hr pin which is a free trade now. However there are some previous high's/low's at this level.
0.9900 - 0.9930 should break with momentum imho, else i see it holding as support.
obvious path is towards 1.01 - 1.02 once last Thursday's 1.0029ish high is breached.
still looks like in a choppy environment, though.
  • #86,782
  • Jan 23, 2011 9:51pm Jan 23, 2011 9:51pm
Quoting mbqb11
Indicators show the past. Price Action "Indicates" the future.
  • #86,783
  • Jan 23, 2011 10:11pm Jan 23, 2011 10:11pm
Quoting jarroo
Well no . . not on the first time back because the daily would not have closed yet . We're basing this 1.3 level to act as Resistance because Price broke through and closed below the 1.3 the last time it was at this level. The yellow area and the close of the day is unknown at this time.

Once we know that the close of the day is below the 1.3, we look for it to act as Resistance.

Looking at the Daily chart after the fact, it looks like the 1.3 did not act as Resistance because Price broke through and closed above the 1.3 at the end of that...

I would like to see something like this.
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  • #86,784
  • Jan 23, 2011 10:11pm Jan 23, 2011 10:11pm
Quoting Pinbar
Morning Jarroo

Ok, let me use your USD example with the 108.39 & 109.09 as the ppz.

Maybe this is something I still get a little confused with, when I see two lines on the chart like this, I never quite know when to look at these as two ppz or a wider band. Hope this helps you understand how I seem to perceive these. I do clearly see, that we are looking for Bullish PA off the top one and Bearish PA off the bottom one.

I mean, is there a certain width of PPZ and a point where, they become separate entities, two PPZ and not one or a narrow...

I'm thinking of the best way to explain this Steve . .give me a few . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,785
  • Jan 23, 2011 10:13pm Jan 23, 2011 10:13pm
Quoting Pinbar
I would like to see something like this.

That would make it real easy . .pinnsh looking BEOB at a great location . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,786
  • Jan 23, 2011 10:20pm Jan 23, 2011 10:20pm
Quoting jarroo
That would make it real easy . .pinnsh looking BEOB at a great location . .



Yeah, a Jarrrrrrrrrrroooooooo Special.

No rush Jarroo.

Thanks in advance.

Maybe this confusion occurs as I originally read the original thread of a former J16 student on FF, before I got here and those bands are stuck in my head.
  • #86,787
  • Jan 23, 2011 10:36pm Jan 23, 2011 10:36pm
Quoting Pinbar
Morning Jarroo

Ok, let me use your USD example with the 108.39 & 109.09 as the ppz.

Maybe this is something I still get a little confused with, when I see two lines on the chart like this, I never quite know when to look at these as two ppz or a wider band. Hope this helps you understand how I seem to perceive these. I do clearly see, that we are looking for Bullish PA off the top one and Bearish PA off the bottom one.

I mean, is there a certain width of PPZ and a point where, they become separate entities, two PPZ and not one or a narrow...
Let me try this . .


We know that PPZ levels are made up of Support and Resistance levels. . .it is where these levels (S/R) meet together that make up a PPZ level.

I think a better question to ask is . .When is a PPZ level acting as Support or Resistance? . . because if we know a PPZ level is acting as Resistance we can look for Bearish PA or if its acting as Support we can look for Bullish PA.

Well, we know one way to find this . .when a PPZ level is acting as Resistance and Price break through and closes above it . .it will now have good chance of act as Support . .and vice versa.


Questions?
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Indicators show the past. Price Action "Indicates" the future.
  • #86,788
  • Jan 23, 2011 10:59pm Jan 23, 2011 10:59pm
Quoting jarroo
Although artistically, GMMAs can light up a denist office waiting room wall with the right size, frame and color combination. . .
haha - if you cant make money trading, just call it 'modern art'
When you have to shoot, shoot. Dont talk.
  • #86,789
  • Jan 23, 2011 11:02pm Jan 23, 2011 11:02pm
Quoting jarroo
Let me try this . .


We know that PPZ levels are made up of Support and Resistance levels. . .it is where these levels (S/R) meet together that make up a PPZ level.

I think a better question to ask is . .When is a PPZ level acting as Support or Resistance? . . because if we know a PPZ level is acting as Resistance we can look for Bearish PA or if its acting as Support we can look for Bullish PA.

Well, we know one way to find this . .when a PPZ level is acting as Resistance and Price break through and closes above it . .it will now have...
Thanks Jarroo.

But, that is not really what I was confused about, I understand that completely from a while back. It is when we have two ppz areas maybe 60 or 70 pips apart. I will try and find a good example.
  • #86,790
  • Jan 23, 2011 11:17pm Jan 23, 2011 11:17pm
Quoting Pinbar
Thanks Jarroo.

But, that is not really what I was confused about, I understand that completely from a while back. It is when we have two ppz areas maybe 60 or 70 pips apart. I will try and find a good example.

Maybe something like this . . we just now wait for Price to break through and close above or close below.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,791
  • Jan 23, 2011 11:17pm Jan 23, 2011 11:17pm
Quoting jarroo
Let me try this . .


We know that PPZ levels are made up of Support and Resistance levels. . .it is where these levels (S/R) meet together that make up a PPZ level.

I think a better question to ask is . .When is a PPZ level acting as Support or Resistance? . . because if we know a PPZ level is acting as Resistance we can look for Bearish PA or if its acting as Support we can look for Bullish PA.

Well, we know one way to find this . .when a PPZ level is acting as Resistance and Price break through and closes above it . .it will now have...
Ok, I think your chart will work well in trying to get over what I mean.
It is hard to describe and may simply be a perspective that needs altering or something.

I altered the chart to show two PPZ, A & B.
We can see that both A & B have historically fulfilled both the Support & Resistance requirements. So, I am really asking, are you considering these as two separate PPZ as in A & B?

If we change our perspective and try to think inside my tiny head, and we make that perspective that there are not two separate PPZ but, a single wide PPZ with a top and bottom, where I drew the diagonal lines inside the band. We then look for bullish or bearish PA off the top of the band depending on if price has closed below it or above it and the same with bottom edge of the band.

Maybe it is hard to see what I am gibbering on about.
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  • #86,792
  • Jan 23, 2011 11:19pm Jan 23, 2011 11:19pm
Quoting jarroo
Maybe something like this . . we just now wait for Price to break through and close above or close below.

Yes,,,,,You saved me a real headache there. That is sort of what I mean.
  • #86,793
  • Jan 23, 2011 11:24pm Jan 23, 2011 11:24pm
Quoting Pinbar
Ok, I think your chart will work well in trying to get over what I mean.
It is hard to describe and may simply be a perspective that needs altering or something.

I altered the chart to show two PPZ, A & B.
We can see that both A & B have historically fulfilled both the Support & Resistance requirements. So, I am really asking, are you considering these as two separate PPZ as in A & B?

If we change our perspective and try to think inside my tiny head, and we make that perspective that there are not two separate PPZ but, a single wide PPZ with...
Steve, that chart looks perfect . . two separate PPZ levels with good targets I might add . .lol.

The blue line is another PPZ level . .forget the diagonal lines. . . look how clean the PBTCAorB at that blue line . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,794
  • Jan 23, 2011 11:31pm Jan 23, 2011 11:31pm
Quoting jarroo
Steve, that chart looks perfect . . two separate PPZ levels with good targets I might add . .lol.

The blue line is another PPZ level . .forget the diagonal lines. . . look how clean the PBTCAorB at that blue line . .

Oh....Well.....This confuses things even more.

I think you are really having a hard time in seeing this from the weird perspective I seem to have. That is good and why you never get confused.


How does this look?
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  • #86,795
  • Jan 23, 2011 11:40pm Jan 23, 2011 11:40pm
Quoting Pinbar
Oh....Well.....This confuses things even more.

I think you are really having a hard time in seeing this from the weird perspective I seem to have. That is good and why you never get confused.


How does this look?

I see two PPZ levels . . . the area in blue . . .Profit.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,796
  • Jan 23, 2011 11:46pm Jan 23, 2011 11:46pm
Quoting jarroo
I see two PPZ levels . . . the area in blue . . .Profit.
Yes, I suspected you see two.

I think your perception is the better of the two and this is confirmed by the profit area. If I think of this as a band, it is not a profit area but a NO MAN'S Land area and may keep me out of trades.

I think we are getting a little closer to what I mean, or at least, I understand the pitfall of thinking of this as a band, which your profit area makes clear.

Thanks Jarroo.

EDIT: I shall now attempt to erase all memory of the band from my head and try to look at it like this.
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  • #86,797
  • Jan 24, 2011 12:08am Jan 24, 2011 12:08am


g.
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I believe . . .
  • #86,798
  • Jan 24, 2011 12:19am Jan 24, 2011 12:19am
Quoting ghous


g.

A two day G bar....!

I am not interested........I am being a good boy, for now.

Nice find though Ghous.

Hey, how did your friend's commercial thing work out?
  • #86,799
  • Jan 24, 2011 12:48am Jan 24, 2011 12:48am
Some serious bearish MACD Div on eur/aud H4.

Not that this means a lot considering the weekly BUEOB and this trend.
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  • #86,800
  • Jan 24, 2011 1:06am Jan 24, 2011 1:06am
Quoting ghous


g.

That's a pretty high, proxy High you got there g. But the 1.6 will do nicely . .
Indicators show the past. Price Action "Indicates" the future.
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