james16 Chart Thread | Page 4347 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #86,921
  • Jan 24, 2011 10:13pm Jan 24, 2011 10:13pm
Quoting ghous
It did have a full 24 hours of data included in it, and was not a Sunday bar because the bar showed up on Fxpro which does not include Sunday bars.

It just was a small PB that did what one could expect of it (find trouble at the big hurdle of 1.3)

Also you mentioned in your previous post how the flip that formed the PB jumped out at you more than the 1.3 BRN. There's this thing with BRNs, they act as psychological levels with various types of traders watching them at all times. Just because a BRN does not show you enough bar highs and lows...
Thanks for the feedback Ghous.

I'll keep this in mind when determining the hierarchy of my R/S levels.

Note to self, BRN, BRN, BRN...
  • #86,922
  • Jan 24, 2011 10:14pm Jan 24, 2011 10:14pm
Quoting mbqb11
Hey Spookie

Glad to see those two blue lines on your chart. This one is a pass for me as there is just not enough info for me to short a smaller bar, and notice shorting back into a bigger BUOB that has been with the recent strength. But I am proud to see you mark those two areas down. To me not one to get carried away with or take a full bar loss on, would be very painful in my eyes

Best
Mike
Agree with you Mike, I was planning on demoing this one. I just noticed a previous post from G. He mentioned the same BUOB.

The clear S/R levels caught my eye. I'm trying to get past that mentallity that the FTA is always my target. I want to be aware of it, but realize there might be more to the story.
  • #86,923
  • Jan 24, 2011 10:14pm Jan 24, 2011 10:14pm
Quoting Pinbar
Haaaa LoL Not yet!

I actually missed that weekly PPZ but caught it on the daily which shows me, that J16 is doing the very same thing. I mean, I believe he is clocking the weekly PPZ on the daily by looking at the Bar highs & lows and noting the consolidation with PBT&CA. He actually commented when I asked him about this,. if you remember, and he also probably makes a great effort to stay on a single TF to not confuse new people.

Anyway, thanks for the question Jarroo, it makes me think about things more. Which, I am totally aware...
That's a good point Pb. . .staying on the same TF. I just like looking on the Weekly to get a look of the PPZ levels as to how they close . .in doing so . .I may be confusng others.

Thanks Pb.

Check out the Aud/Cad right now . .the 9900 still acting as Resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #86,924
  • Jan 24, 2011 10:21pm Jan 24, 2011 10:21pm
Quoting jarroo
That's a good point Pb. . .staying on the same TF. I just like looking on the Weekly to get a look of the PPZ levels as to how they close . .in doing so . .I may be confusng others.

Thanks Pb.

Ckeck out the Aud/Cad right now . .the 9900 still acting as Resistance.

Noooooooooooooooooooooooooooooooooooooooo

That is not what I meant at all Jarroo, quite the reverse actually, I think I did not express it well enough. That is part of being in Japan for so long.

What I wanted to say was, by using your GREAT weekly analysis method on the weekly TF, shows me how to spot the same areas on the daily.

I very much doubt that I would have arrived at that conclusion from looking only at the daily as, I have previously missed the consolidation areas.


Sorry for the inarticulate expression.


EDIT..Yes, look at that BEOB on H1, although I would have liked to see it higher up & closing just below the 365.
Attached Image (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 120 KB
  • #86,925
  • Jan 24, 2011 10:24pm Jan 24, 2011 10:24pm
Quoting Pinbar
Noooooooooooooooooooooooooooooooooooooooo

That is not what I meant at all Jarroo, quite the reverse actually, I think I did not express it well enough. That is part of being in Japan for so long.

What I wanted to say was, by using your GREAT weekly analysis method on the weekly TF, shows me how to spot the same areas on the daily.

I very much doubt that I would have arrived at that conclusion from looking only at the daily as, I have previously missed the consolidation areas.


Sorry for the inarticulate expression.
It is a good point Pb . .James16 usually stay on the same TF when doing his analysis for PPZ levels . . its a valid point.
Indicators show the past. Price Action "Indicates" the future.
  • #86,926
  • Jan 24, 2011 10:51pm Jan 24, 2011 10:51pm
Quoting Ifmyante
No, I can only infer that around it is a good setup area.
What am I missing?

Hey ifmyante . .I should have been more clear with that chart I posted . .instead of just throwing it out there.

If you can understand how Support can turn into Resistance once Price Breaks Through and Closes Below it (and vice versa) then this Blue area on this chart can make sense to you. I'll let you check the lower TFs to see if there were any opportunities once this Price Flip occurred.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy24.jpg Size: 106 KB
Indicators show the past. Price Action "Indicates" the future.
  • #86,927
  • Jan 24, 2011 10:56pm Jan 24, 2011 10:56pm
Quoting jarroo
Hey ifmyante . .I should have been more clear with that chart I posted . .instead of just throwing it out there.

If you can understand how Support can turn into Resistance once Price Breaks Through and Closes Below it (and vice versa) then this Blue area on this chart can make sense to you. I'll let you check the lower TFs to see if there were any opportunities once this Price Flip occurred.

That clarifies the profit area.

On a lower TF, selling at the top with PA of course, and buying at the bottom.

What a sense of security this will afford us.
  • #86,928
  • Jan 24, 2011 11:10pm Jan 24, 2011 11:10pm
Quoting ghous
Hey Osman,

When I look at the setup the problem of the length of the bar jumps out less at me than the problem of the close on the bar

The close on our PA bars is extremely important...specially when we're talking about a bar that's heading into traffic.

I see a confluence of the 365 with quite a few bar highs, and the pin bar close in relation was above this area. That to me is the first red flag. Had price closed with authority below...or even at this area solidly (leaving a very small...or better still no wick at all) things...
Great post . .g . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,929
  • Jan 24, 2011 11:24pm Jan 24, 2011 11:24pm
Here is a nice H4 setup, I missed. FTA was a bit close but the pullback gives it that cherry look. Burst right through the weekly PPZ.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 118 KB
  • #86,930
  • Jan 24, 2011 11:45pm Jan 24, 2011 11:45pm
Quoting fxgroup
Last weekly closed as an indecision bar with a friday IPB(ib).I don't trade this kind of bar,I use them as information,but it's position/shape and the previous candles(as I said in quoted post),make a perfect IPB with a nice story for ghous.Anyway,I'll keep an eye on this pair.
Hey fxg I think the PBT&CB may be a better option to look for here. Looks to be in a consolidation area on the Daily.

Although I do see that 2 Day IPB that you see in blue . . and it did work nicely much like ghous' 2 day IPB on the GU.

I have adjust my Support level to the 1.5200 RN from the 1.5175. Clarity of the Support level could be alot clearer.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf24.jpg Size: 122 KB
Click to Enlarge Name: gbpchf24a.jpg Size: 121 KB
Indicators show the past. Price Action "Indicates" the future.
  • #86,931
  • Jan 24, 2011 11:49pm Jan 24, 2011 11:49pm
Quoting Pinbar
Here is a nice H4 setup, I missed. FTA was a bit close but the pullback gives it that cherry look. Burst right through the weekly PPZ.
Seeing and watching them is a good thing Pb . .soon you will see them develop in real time even before they develop. Chart time is a good thing.
Indicators show the past. Price Action "Indicates" the future.
  • #86,932
  • Jan 25, 2011 12:29am Jan 25, 2011 12:29am
disney on daily.
wait for a break of the 40 usd...
Attached Image (click to enlarge)
Click to Enlarge Name: dis4.gif Size: 24 KB
meine augen sind die sterne
  • #86,933
  • Jan 25, 2011 12:56am Jan 25, 2011 12:56am
Quoting jarroo
Hey fxg I think the PBT&CB may be a better option to look for here. Looks to be in a consolidation area on the Daily.

Although I do see that 2 Day IPB that you see in blue . . and it did work nicely much like ghous' 2 day IPB on the GU.

I have adjust my Support level to the 1.5200 RN from the 1.5175. Clarity of the Support level could be alot clearer.

Wow, just got back and I looked at your chart above.
I then rushed to see how the GBP/CHF chart I setup this morning compares.

Pretty close........I guess this means I am on the right path.

Greatly appreciate the help Jarroo and I think I was about to give up when I was having all that trouble with PPZ a while back.

This is the true testament to how you are teaching us this method of analysis and also may I add, the knowledge and understanding you have of a beginners human predicament, when we start learning trading.

Those 10,000 posts are indeed all gems.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf24a.jpg Size: 121 KB
Click to Enlarge Name: pic.jpg Size: 123 KB
  • #86,934
  • Jan 25, 2011 1:08am Jan 25, 2011 1:08am
Quoting joelcf
No, its just 'strategy' advice for their clients. All IBs/instos push out economic/trading/portfolio advice, usually daily, ostensibly as a service... however, those with a suspicious nature might also claim they do it to create some turnover (or churnover).



Close your eyes, draw a bunch of lines all over your chart and then hope one of them works. His (terribad imo) books got reasonably popular during the tech boom, but so did throwing darts at the screen, MA cross systems and segways. It was a bad time for all.

Also, growing a 19th century...
Joelcf,
Don't get me wrong, but it seems that in this thread it is considered "cool" to bash people who use indicators for Forex trading. I know many of them who have made phenomenal money using the indicators. Obviously, the trades are not based on indicators alone, otherwise anyone with programming skills would be laughing his way to the bank. So let's just agree that there are many ways to skin the cat. Each trader has to find a system / method which is best suited to his / her trading style and psychology. Some like pure naked charts while others are happy with some indicators. As long as the Trader is making money"consistently" his method must be correct.

Cheers
Novice
  • #86,935
  • Jan 25, 2011 2:19am Jan 25, 2011 2:19am
Quoting novice198
Joelcf,
Don't get me wrong, but it seems that in this thread it is considered "cool" to bash people who use indicators for Forex trading.
I wasnt bashing people who use indicators, and I'm not sure how you drew that conclusion. I was specifically talking about Guppy, the GMMA and the Tron-esque charts that result.

Also, his moustache.

As someone who read Guppy's books, investigated his methods, didnt get my time back and came to my own conclusions, I daresay I can probably do that, too.


Quoting novice198
I know many of them who have made phenomenal money using the indicators.
I see this kind of line bandied around quite often on the internet, but I am yet to see a single example of someone making 'phenomenal' amounts of money trading using indicators.

At best, they are peripheral to a system based on economic/fundamental analysis or price action.

Quoting novice198
As long as the Trader is making money"consistently" his method must be correct.
There is a consistently profitable indicator system now? Someone better call gene fama.
When you have to shoot, shoot. Dont talk.
  • #86,936
  • Jan 25, 2011 2:48am Jan 25, 2011 2:48am
Quoting joelcf
I....
There is a consistently profitable indicator system now? Someone better call gene fama.
Gene Fama...
this guy or
this guy?

both are very talented, i must say.
  • #86,937
  • Jan 25, 2011 4:48am Jan 25, 2011 4:48am
4H BEOB on EU
at a swing high
at the 50% fib retracement
at a round number 1.3600

but yesterday we've had exactly the opposite signal
4H BUOB at a swing high
50% Fib
RN

bull market? bear market ?
I don't like such indecision
  • #86,938
  • Jan 25, 2011 5:00am Jan 25, 2011 5:00am
This is interesting I think.
Attached Image (click to enlarge)
Click to Enlarge Name: ym_25jan.gif Size: 9 KB
  • #86,939
  • Jan 25, 2011 5:07am Jan 25, 2011 5:07am
Quoting Adilius07
This is interesting I think.
i am watching this, too. but i am always suspicious of the ym-charts. the voulme in the "off-hours" is sometimes ridiculously thin (like a sunday bar in fx ). be very cautios with it.
meine augen sind die sterne
  • #86,940
  • Jan 25, 2011 5:09am Jan 25, 2011 5:09am
Quoting aserbfx
i am watching this, too. but i am always suspicious of the ym-charts. the voulme in the "off-hours" is sometimes ridiculously thin (like a sunday bar in fx ). be very cautios with it.
Yes I'm not trading it, just watching.
Love to see this things work in futures markets too
45 traders viewing now