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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

  • #87,521
  • Feb 1, 2011 12:58am Feb 1, 2011 12:58am
Quoting jarroo
A better question that we (myself included) need to ask ourselves is this. . . .


Why weren't we looking for Bullish PA at this newly formed and confirmed Support level?



Gotta go . .

Many thanks Jarroo.

Yes, I see now that you, Mike & SC are all correct.

As you mentioned the bar structure was lacking a bit, I think I got so involved with the levels I let that pass.

I can see, that this is a good level to keep our eye on, and also as you say, we should be open to what price actually does at these levels and not convince ourselves of one direction or the other.

Many thanks to all for the support.


EDIT: A look at H1 shows us we did actually get some decent bullish PA.
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  • #87,522
  • Feb 1, 2011 1:14am Feb 1, 2011 1:14am
Quoting 5.25
On an absolute basic PA level, I would like to post a successful 100 pip gain on the AUD/NZD...
wow, was this a pure Daily chart trade?
glad it turned out very well for u.
Keep posting Sir!


btw, do u still use floppy diskettes?
  • #87,523
  • Feb 1, 2011 1:28am Feb 1, 2011 1:28am
Quoting Pinbar
Glad it worked out for you Adi.
Thanks, BE is still in place but looks to be hit soon...
  • #87,524
  • Feb 1, 2011 1:29am Feb 1, 2011 1:29am
Quoting supremeChaos
wow, was this a pure Daily chart trade?
glad it turned out very well for u.
Keep posting Sir!


btw, do u still use floppy diskettes?
It was purely on the daily. Though there was an evident 4H PB there too (which I missed.)

Do I still use floppy diskettes ? No, I'm afraid not. Just a little reminder to myself to start from the absolute basics before I get too far ahead of myself. I'll continue to upgrade come positive results.
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  • #87,525
  • Feb 1, 2011 1:31am Feb 1, 2011 1:31am
Quoting ghous
Hey Chelski,

Like I mentioned in the video the ongoing story at the time matters more than anything else.

I don't like the way the IPB is really just a small part of an ongoing consolidation. Being an IB its again not at a swing high but rather tucked up inside the previous bar and is the 5th bar that has consecutively tested the 1.6.

Don't get me wrong, price doesn't always bounce off by the pip each time of a BRN. In fact its got this habit to consolidate and go sideways (box) more often thn reversing straight away. Problem is you never...
Great Ghous, I mentioned it because it was an example at a BRN not near as in the video so hope we all got something from that.
  • #87,526
  • Feb 1, 2011 1:31am Feb 1, 2011 1:31am
Quoting ghous
HAHAHA! That really made me laugh out loud. Don't we all want to hold our runners forever...

does 8500 hit you Ad?

g.
Yes That is part of ma plan, to hold them forever, lol, who cares when it is a free trade...still thinking though when should that forever end..maybe the other side of MA, or the end of next month...

BRN yeah it is there, but there was a void to it, so I took the trade. So now is just chances I have no control of what is going to happen
  • #87,527
  • Feb 1, 2011 1:45am Feb 1, 2011 1:45am
Quoting 5.25
On an absolute basic PA level, I would like to post a successful 100 pip gain on the AUD/NZD....
Nice one

I like the location and overall setup but this daily pb might be too doji for my liking. In good location even semi-good bar will work quite often. I envy this H4 pb ... that one looks juicy Pozdro...
  • #87,528
  • Edited 4:19am Feb 1, 2011 2:22am | Edited 4:19am
Just woke up and found I triggered into the trade I last posted about.

USDCHF hit the multi-day support again so this is basically the same trade I took yesterday and said I would take again. Got long at 9395 looking for 40-50 pips on the first lot (represents a return to the top of the bar) and let the second lot run. My initial stop was below the previous bar at 9368.

Update: I just took the 40, moved stop to BE and hopefully we will see this baby finally run and get out of this area.
Update2: I took runner off from yesterday at +20. Looks like second runner is about to get stopped out. We'll see. If so, I'll likely enter again, but will need a really good setup.
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Be bullish on you.
  • #87,529
  • Feb 1, 2011 2:26am Feb 1, 2011 2:26am
Quoting ghous
Hey Avanish,

I like to keep my time frames separate at all times to keep away from taking things for granted. That is I will never use a higher TF setup as a confluence or heads up to a mediocre lower TF setup.

While the IPB looks to be at a good location (swing low) and has a really good bullish close, notice we are not cleared up to the IPB high. 9600 is in fact the FTA and a real strong one at that. thumbs down on the space department...

As for the 4H pin bar (which I'll look at strictly with its own merit rather than borrowing any from...
ya i was aware abt the FTA at 0.96 though i didn't mention it...I guess i should have just asked abt monthly IPb.... unnecesarrily I'm making my own analysis..neways thanks..jus want to sharpen skills on IPb!!
  • #87,530
  • Feb 1, 2011 8:15am Feb 1, 2011 8:15am
I liittle quiet in here today.

Quoting jarroo
Usd/Jpy.

Nice clean and clear Support level . .82.00

Here's one to watch . . .Usd/Jpy
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Indicators show the past. Price Action "Indicates" the future.
  • #87,531
  • Feb 1, 2011 8:22am Feb 1, 2011 8:22am
Quoting jarroo
I liittle quiet in here today.

Here's one to watch . . .Usd/Jpy
Hey Jim, thanks for the charts.. I'll be keeping a keen eye on this for a retest.

A similar move here in aussie aswell..
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  • #87,532
  • Feb 1, 2011 8:26am Feb 1, 2011 8:26am
Quoting Sgrb1
Hey Jim, thanks for the charts.. I'll be keeping a keen eye on this for a retest.

A similar move here in aussie aswell..

Yes!! . .excellent Sgrb!. . .Right at parity . .1.0000.

If Price comes back to the 1.0000 I would be looking for it to act as Support and some nice Bullish PA.


Indicators show the past. Price Action "Indicates" the future.
  • #87,533
  • Feb 1, 2011 8:32am Feb 1, 2011 8:32am
Quoting 5.25
On an absolute basic PA level, I would like to post a successful 100 pip gain on the AUD/NZD....
all good stuff brother. Bringing together a lot of good stuff. Nice trade

Mike
  • #87,534
  • Feb 1, 2011 8:34am Feb 1, 2011 8:34am
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.
Quoting jarroo

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.


I liked what IBFX gave at the 1.3760 on the Eur/Aud on the 4 Hour. Other feeds showed Price couldn't close above that level.

The 1.3650 is a strong Daily and Weekly Support level so Bullish PA is not out of the question here.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,535
  • Feb 1, 2011 8:34am Feb 1, 2011 8:34am
Quoting gejordan
Just woke up and found I triggered into the trade I last posted about.

USDCHF hit the multi-day support again so this is basically the same trade I took yesterday and said I would take again. Got long at 9395 looking for 40-50 pips on the first lot (represents a return to the top of the bar) and let the second lot run. My initial stop was below the previous bar at 9368.

Update: I just took the 40, moved stop to BE and hopefully we will see this baby finally run and get out of this area.
Update2: I took runner off from yesterday at +20....
I AM SO glad to see you move to b/e quickly. I first saw you chart and got a bit nervous, but this is what most will not do with these so-so setups. They hope everyone runs instead of protecting themselves quickly. James tries very hard to get that across. So good for you Jordan.

Then you take this to high quality picky setups, and there is little to stop one.

Mike
  • #87,536
  • Feb 1, 2011 8:38am Feb 1, 2011 8:38am
Hi all,
I decided to change tactics and get a little more aggressive on a breakout trade. There was lots of space for it to move, so I set a sell stop at 1.3633
Usually I'd wait for a pullback, but I decided to get on this one straight away in case it broke hard.

There was one other support area about 10 pips lower, way over on the left. I wonder would a sell stop below there have been wiser?
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  • #87,537
  • Feb 1, 2011 8:49am Feb 1, 2011 8:49am
Quoting Ifmyante
Hi all,
I decided to change tactics and get a little more aggressive on a breakout trade. There was lots of space for it to move, so I set a sell stop at 1.3633
Usually I'd wait for a pullback, but I decided to get on this one straight away in case it broke hard.

There was one other support area about 10 pips lower, way over on the left. I wonder would a sell stop below there have been wiser?
The 1.3650 is a strong PPZ level that is currently acting as Support. I going to wait until I have more confirmation that the 1.3650 is going to act Resistance. . . .so Price is going to have to break through and close below the 1.3650.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,538
  • Feb 1, 2011 8:53am Feb 1, 2011 8:53am
Quoting jarroo
The 1.3650 is a strong PPZ level. I going to wait until I have more confirmation that the 1.3650 is going to act Resistance. . . .so Price is going to have to break through and close below the 1.3650.
True, Jim, thanks

Very good reason to demo a change in approach
  • #87,539
  • Feb 1, 2011 9:05am Feb 1, 2011 9:05am
Quoting xmzhang
Not much going on after I entered short, just a tiny profit. That daily BEOB didn't provide me with a solid lvl for a sell, switching to a 2-daily TF keylvl are far more clearer. Now we have a 2D-PB with its left eye as our reference lvl to look for a sell ....... quess what, on the 1H-TF price gave me my sell trigger right at the left eye, also confluence with a 50% pullback of that 2D-PB. Now lets see if price is able to break that 2D-PB .............
Price did break that 2_day PB, i've moved my stop just above the low of the 2_day PB and locked in about 80 pips, lets see if the daily PPZ @ 13650 provides resistance ...........
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Pipcrawler
  • #87,540
  • Feb 1, 2011 9:09am Feb 1, 2011 9:09am
Quoting Ifmyante
True, Jim, thanks

Very good reason to demo a change in approach
You can be a more aggressive with the same approach as I descripted above. You can wait for a close below on . .say the Hourly or 4 Hour.

Notice that Price has made a couple of Hourly closes below the 1.3650. I view a higher TF close below a stronger confirmation.
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Indicators show the past. Price Action "Indicates" the future.
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