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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

  • #87,021
  • Jan 25, 2011 10:43pm Jan 25, 2011 10:43pm
Quoting Pinbar
Would you have closed the trade when price got to the TL, where I suspect there is fibo confluence, before that bullish PB closed?

I am just looking at the considerable draw down if we held on to it.

Depending where I entered the trade . .meaning I can't tell if the previous bar low of the BEOB retraced before or after it broke . .my Hourly data on this feed doesn't go back that far.

But the fact that it did reach its 1st target, previous Highs and that it didn't close below the Weekly High (traffic) . . I would have been out for a small loss or break even . .again James16's "This is Critical" would apply.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,022
  • Jan 25, 2011 10:46pm Jan 25, 2011 10:46pm
Quoting jarroo
Depending where I entered the trade . .meaning I can't tell if the previous bar low of the BEOB retraced before or after it broke . .my Hourly data on this feed doesn't go back that far.

But the fact that it did reach its 1st target, previous Highs and that it did close below the Weekly High (traffic) . . I would have been out for a small loss or break even . .again James16's "This is Critical" would apply.


Thanks Jarroo, just wanted to ask about that as I see it quite a lot in setups.

Yes, I agree, good knowledge of PPZ & PA combined with the FTA is the real deal and, about as close to the Holy Grail, as it gets.
  • #87,023
  • Jan 25, 2011 10:48pm Jan 25, 2011 10:48pm
Quoting Pinbar
Thanks Jarroo, just wanted to ask about that as I see it quite a lot in setups.

Yes, I agree, good knowledge of PPZ & PA combined with the FTA is the real deal and, about as close to the Holy Grail, as it gets.

Sorry I made an error in that post . ."and that it didn't close below the Weekly High (traffic) "
Indicators show the past. Price Action "Indicates" the future.
  • #87,024
  • Jan 25, 2011 11:12pm Jan 25, 2011 11:12pm
Quoting jarroo
Price reaches our Weekly "Resistance" level . .I put Resistance in quotes because now we want confirmation or signs that its acting as Resistance.

A weekly close below would prove it and/or a Daily close would also give a good sign of Resistance. But the Weekly hasn't closed yet . .so we look at the Daily. We could look at the lower time frames for this confirmation but staying on the Weekly and Daily will give a stronger confirmation. . .meaning a close below.

On the 4 Hour , a good confirmation would be of course a close below but also...

Just to continue . .

We now have a Weekly close below this level . . Resistance confirmed. Plus the mutli-day closes below also looks good. A nice PPZ level that James16 talks about.

But why is Price not falling hard downward . .H m m m something is going on here. Like I said above, Price maybe looking to break through to the Upside of the 108.3. It just hanging around this level too long . .relatively speaking.

Looks like consolidation is developing . .no surprise , that's what most market do, most of time. There are ways to expoit this consolidation . . touch trading at the 108.3 and cover your risk by moving to break even quickly or free trading, etc . but nothing beats good old solid strong PA to do the trick and so far nothing is giving a clear trigger. . . on the Daily or Weekly.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,025
  • Jan 25, 2011 11:17pm Jan 25, 2011 11:17pm
Quoting jarroo
Just to continue . .

We now have a Weekly close below this level . . Resistance confirmed. Plus the mutli-day closes below also looks good. A nice PPZ level that James16 talks about.

But why is Price not falling hard downward . .H m m m something is going on here. Like I said above, Price maybe looking to break through to the Upside of the 108.3. It just hanging around this level too long . .relatively speaking.

Looks like consolidation is developing . .no surprise , that's what most market do, most of time. There are ways to...

The saga continues . .lol . . but I can not for now

I'll be back later.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #87,026
  • Jan 25, 2011 11:36pm Jan 25, 2011 11:36pm
Quoting jarroo
The saga continues . .lol . . but I can not for now

I'll be back later.

Jim
Thanks for posting and sharing the tutorial Jim
  • #87,027
  • Jan 26, 2011 12:49am Jan 26, 2011 12:49am
the eyes are not inside the previous bar, so it is not a pb by "textbook".
location is quite good with a congestion area to the left. with a positive s&p today, i would wait for a break of the 9.00 usd to go long.
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meine augen sind die sterne
  • #87,028
  • Jan 26, 2011 2:26am Jan 26, 2011 2:26am
Quoting jarroo
Somtimes it does and somtimes it doesn't but more importantly the level will usually "Flip" or turn from Support to Resistance (or vice versa).
Great lessons for the masses Sir Jarroo, keep them coming along with the great charts and explanations! You have an eager audience.
  • #87,029
  • Jan 26, 2011 2:45am Jan 26, 2011 2:45am
Quoting jarroo
The saga continues . .lol . . but I can not for now

I'll be back later.

Jim
I hope the Karma faeries have been paying attention to the amount of time, energy and patience you've been giving us. If they have, they should be profitable traders by now

Reading through your last night's great work I can see the answer to it all is in there.

I'm going to print out the charts and text now, spread them all out on the desk and cross reference them until I truly feel it.

If that light in my mind doesn't burst into incandescence today, it's my fault not yours.
When it does, those printouts are getting framed and hung like platinum discs
After that I'll analyse the trade possibilities next time price enters the blue box, and hopefully you'll see a marked improvement.

'Thank you' is not enough. ty x ∞ only gets a little closer
  • #87,030
  • Jan 26, 2011 3:18am Jan 26, 2011 3:18am
EURUSD @1.37, good place to go Short with a touch trade

2pipsfx
PRICE is Lord, King, Queen and Country
  • #87,031
  • Jan 26, 2011 3:21am Jan 26, 2011 3:21am
Hey Jarroo

Thanks for those earlier posts on PPZ etc - I hope I am starting to get a grip of it due to your inspired teachings.

Looking at the current UJ weekly would you say we have a good example of a weekly level around the 94.00 area. Price broke through to the downside and has come back to the level but cannot close above it. Is this where we look for opportunities?

kal
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  • #87,032
  • Jan 26, 2011 3:54am Jan 26, 2011 3:54am
Quoting Kalbar
Hey Jarroo

Thanks for those earlier posts on PPZ etc - I hope I am starting to get a grip of it due to your inspired teachings.

Looking at the current UJ weekly would you say we have a good example of a weekly level around the 94.00 area. Price broke through to the downside and has come back to the level but cannot close above it. Is this where we look for opportunities?

kal

I like the 82.374 area.
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  • #87,033
  • Jan 26, 2011 4:58am Jan 26, 2011 4:58am
Quoting Pinbar
I like the 82.374 area.
I'm looking for bullish PA at 82.
Nothing personal,just business
  • #87,034
  • Jan 26, 2011 6:07am Jan 26, 2011 6:07am
Quoting Pinbar
I hear you Jim.


I am looking at AUD/USD like this right now.
I must have missed this post Pb . .very nice.
Check the Daily on the IBFX feed, nice bearish PB at your newly Resistance level.

Also check out the Aud/Cad . .interesting don't you think?. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,035
  • Jan 26, 2011 6:10am Jan 26, 2011 6:10am
Quoting 5.25
Thanks for posting and sharing the tutorial Jim
Quoting Kalbar
Great lessons for the masses Sir Jarroo, keep them coming along with the great charts and explanations! You have an eager audience.
Thanks guys ..
Indicators show the past. Price Action "Indicates" the future.
  • #87,036
  • Jan 26, 2011 6:17am Jan 26, 2011 6:17am
In order to know how market is working and where all the order flow is, i was watching the USDCHF 1H chart.

Cluster of 1H consolidation was broken to the upside, 61.8% retracement.

Wonder if it hold

2pipsfx
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PRICE is Lord, King, Queen and Country
  • #87,037
  • Jan 26, 2011 6:17am Jan 26, 2011 6:17am
Quoting Ifmyante
I hope the Karma faeries have been paying attention to the amount of time, energy and patience you've been giving us. If they have, they should be profitable traders by now

Reading through your last night's great work I can see the answer to it all is in there.

I'm going to print out the charts and text now, spread them all out on the desk and cross reference them until I truly feel it.

If that light in my mind doesn't burst into incandescence today, it's my fault not yours.
When it does, those printouts are getting framed and hung like...
Thanks Michael.

You can see that the 105.50 didn't really show any prominence until after it stating making these mulit-bar Highs and Closes in white. These are the clear, clean, strong levels we look for in a good level. . .they show strength.

It just take some time and practise .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,038
  • Jan 26, 2011 6:30am Jan 26, 2011 6:30am
Quoting jarroo
Cool . . Be Cool.

Should be interesting to see where Price closes today on the Daily Gbp/Nzd. . .

Hey Be Cool . .remember this post . .looks like it worked out pretty good . .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,039
  • Jan 26, 2011 6:38am Jan 26, 2011 6:38am
JARROO (or any other wise traders)

I see a lot of discussion regarding PPZ and I'm curious how you view S/R of the type in the chart/picture below for trading opportunities?

Real obvious S/R points but not PPZ's.

http://2.bp.blogspot.com/_lSrBiCbRYH...-R%2Blevel.png
  • #87,040
  • Jan 26, 2011 6:38am Jan 26, 2011 6:38am
Quoting jarroo
I must have missed this post Pb . .very nice.
Check the Daily on the IBFX feed, nice bearish PB at your newly Resistance level.

Also check out the Aud/Cad . .interesting don't you think?. . .

Yes, the AUD/CAD looks very interesting.

I shall keep this up and see where it takes me along the path.

These setup are all over the place.

One on EG.


Thanks Jim
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