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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

  • #87,381
  • Jan 30, 2011 3:44pm Jan 30, 2011 3:44pm
Quoting mbqb11
Welcome Patrick!

Yes those lines look perfect. Aren't they pretty

Best
Mike
Mike, I feel like my time spent reading this thread is paying off if already you are saying I am doing ok with PPZ lines, I have read many of your posts in this thread as well..
  • #87,382
  • Jan 30, 2011 3:48pm Jan 30, 2011 3:48pm
Quoting Patrick.
Greetings, this is my first time here, spent some time reading this thread and now ready to start my learning process. I would like to post this EU/GBP chart and get some feed back. is this a BEOVB and do those PPZ look correct is this a potention J16 setup?

Welcome Patrick.

That .8650 PPZ level look real good not only as Daily PPZ level, but its a Weekly PPZ level as well.

I would like to see the High of the BEOB to be the Highest high of the swing High. Much like the Weekly BEOB in blue.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,383
  • Jan 30, 2011 3:52pm Jan 30, 2011 3:52pm
Quoting phpscott
Indeed. I will not be trading it but have it on the watch list. My gut says we'll see 1.4 before any sizable downward move occurs but my gut is not always right.

Scott
It sure looks like its heading for it (1.4) It seems that once Price gets near a BRN . .it sure wants to go and take a taste or test of it . .that's probably what your gut is telling you ...
Indicators show the past. Price Action "Indicates" the future.
  • #87,384
  • Jan 30, 2011 3:57pm Jan 30, 2011 3:57pm
I see what you are looking at, I did not see that...this would not be an A trade for you then... btw I have read many of your posts as well...thanks for making them
Quoting jarroo
Welcome Patrick.

That .8650 PPZ level look real good not only as Daily PPZ level, but its a Weekly PPZ level as well.

I would like to see the High of the BEOB to be the Highest high of the swing High. Much like the Weekly BEOB in blue.
  • #87,385
  • Jan 30, 2011 4:06pm Jan 30, 2011 4:06pm
Quoting Patrick.
I see what you are looking at, I did not see that...this would not be an A trade for you then... btw I have read many of your posts as well...thanks for making them
If the Daily BEOB engulfed the current and previous Highs (in yellow) I would catagorize it as an "A" quality setup. Although it still has potential .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,386
  • Jan 30, 2011 5:38pm Jan 30, 2011 5:38pm
I am looking to sell .8590
Quoting Adilius07
Hello Patrick, this is the trade I am planning to take.
I have my orders set to sell short @0.8565

I'm not the best one to answer about PPZ though I'm sure someone will give you more details about it.

EDIT: I forgot to answer,lol, yes that is BEOB
  • #87,387
  • Jan 30, 2011 5:53pm Jan 30, 2011 5:53pm
Quoting Patrick.
Mike, I feel like my time spent reading this thread is paying off if already you are saying I am doing ok with PPZ lines....
i believe having the ability to mark the correct&best PPZs is winning half or at least 1/3 the battle.

welcome & keep posting Sir!
  • #87,388
  • Jan 30, 2011 6:42pm Jan 30, 2011 6:42pm
Patrick/Jim/Mike,

Curiosity question about the BEOB on EURGBP: Anyone concerned about the 150 & 365 MAs just under that bar?

Thanks,

Dean
  • #87,389
  • Jan 30, 2011 6:55pm Jan 30, 2011 6:55pm
Quoting MustardPlug
Patrick/Jim/Mike,

Curiosity question about the BEOB on EURGBP: Anyone concerned about the 150 & 365 MAs just under that bar?

Thanks,

Dean
Hey Dean

I don't use MAs myself but one of my rules is not to trade back into a BRN that is so close as we have here with the 8500. THat is to keep me from trading back into a PPZ as opposed to away where IMO the flow is more friendly. So you could add those MAs in and tell that same story too

Of course I don't like where the bar sits as others have pointed out

Best
Mike
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  • #87,390
  • Jan 30, 2011 7:17pm Jan 30, 2011 7:17pm
I saw the BRN my plan is sell 8590 stop 8672 1/2 off at 8550 move to BE...... I am new to this J16 method
Quoting mbqb11
Hey Dean

I don't use MAs myself but one of my rules is not to trade back into a BRN that is so close as we have here with the 8500. THat is to keep me from trading back into a PPZ as opposed to away where IMO the flow is more friendly. So you could add those MAs in and tell that same story too

Of course I don't like where the bar sits as others have pointed out

Best
Mike
  • #87,391
  • Jan 30, 2011 7:21pm Jan 30, 2011 7:21pm
I'm not sure about rules regarding ema's yet. I mean sometimes a FTB works to the pip. Other times price passes through like it wasn't there.

I'm watching a case this week in AUD/CHF.

Weekly PBT PPZ & CB, but is now sitting on 150 and 365. If they turn price back around I'll respect them alot more in future
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  • #87,392
  • Jan 30, 2011 7:29pm Jan 30, 2011 7:29pm
Quoting Pinbar
Again just my HO.

I don't like the consolidation red boxes on the daily TF.
hello PB thank you again for your opinion on kiwi setup... I think last week not many good setup I can found... base on P.A. hoping this week will show some opportunity to entry....
  • #87,393
  • Jan 30, 2011 7:52pm Jan 30, 2011 7:52pm
Quoting jarroo
Nice video Pb . . . I like how you pointed out the BEOB closing below the PPZ .. excellent. and Yes, its much better than that PB....


I believe you meant to say "Price Breaks Through & Closes Below" on your chart.

Thanks Jim. Hope you had a great weekend.

It is good to make a short video occasionally explaining what I mean, it puts me on the spot and makes me think about it.
  • #87,394
  • Jan 30, 2011 9:09pm Jan 30, 2011 9:09pm
Quoting Pinbar
Thanks Jim. Hope you had a great weekend.

It is good to make a short video occasionally explaining what I mean, it puts me on the spot and makes me think about it.
really liked the video pinbar!
  • #87,395
  • Jan 30, 2011 10:00pm Jan 30, 2011 10:00pm
Quoting DBallerz
really liked the video pinbar!
Thanks

Glad you liked it..Just my humble newbie opinion.
  • #87,396
  • Jan 30, 2011 10:27pm Jan 30, 2011 10:27pm
IPB on the GBP/CAD. With the trend but worried FTA a little too close. Any comments?
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  • #87,397
  • Jan 30, 2011 11:05pm Jan 30, 2011 11:05pm
Quoting spookie94
IPB on the GBP/CAD. With the trend but worried FTA a little too close. Any comments?
more of an IB than an IPB.
the location (& size) is unideal for it to be called IPB. (if this candle occurred around 1.60 with the upper wick protruding, i think it could be a potential IPB)

i see this as a 'pause pinbar in mid air'. specially since, we have tons of trouble (potential resistance) above.
i see more upside potential than downside (if 1.5600-50 holds).

just my view
  • #87,398
  • Jan 30, 2011 11:06pm Jan 30, 2011 11:06pm
Quoting Dan Gilbert
Good points.

I cannot take this beob on euraud because I cannot find a solid way to enter, and exit the trade. Possibly short it @ 1.3760 if price creeps back up that high, but I'm going to leave it alone.

I would be @ B/E now at the very worst.
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Many choose unhappiness over uncertainty.
  • #87,399
  • Jan 30, 2011 11:09pm Jan 30, 2011 11:09pm
Quoting Dan Gilbert
Possibly short it @ 1.3760 if price creeps back up that high, but I'm going to leave it alone.

Good eye there, Dan.

This is how I see it . . .

Good history of a PPZ level at the 1.3760ish. . .

Then a nice build of muliple Resistance . .ignore that Red candle in yellow, its just a wick or spike that didn't close above the 1.3760.

PBT&C Above but could not find Support . . . meaning it could not close above this level . .on any time frame let alone the daily.

The 1.3760 this is still a strong level . . . PBT&C Below . .Resistance.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,400
  • Jan 30, 2011 11:10pm Jan 30, 2011 11:10pm
Quoting Dan Gilbert
I would be @ B/E now at the very worst.
Indicators show the past. Price Action "Indicates" the future.
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