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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

  • #87,981
  • Feb 4, 2011 1:29am Feb 4, 2011 1:29am
Quoting supremeChaos
whenever i feel down, 1 of the things i remind myself is:


any endeavor worth doing is never easy. (or at least.. only difficult at first.)



Indeed SC, I didn't start this to quit &, that is the last thing going through my mind. The first thing is, I am going to correct whatever the problem is and surpass it!

Thanks for the encouragement SC.
  • #87,982
  • Feb 4, 2011 1:43am Feb 4, 2011 1:43am
How can I better understand the purpose of boxes you guys draw that often.
The one on top the other like in this pic means we have a better choice taking long setup? (because one box is built on top of the other) But many times there would be a top box too (further left).

What is their role in J16? I can spot them too but what to do with them when I spot a box?

http://www.forexfactory.com/attachme...1&d=1296789745
  • #87,983
  • Feb 4, 2011 1:49am Feb 4, 2011 1:49am
Quoting Adilius07
How can I better understand the purpose of boxes you guys draw that often.
The one on top the other like in this pic means we have a better choice taking long setup? (because one box is built on top of the other) But many times there would be a top box too (further left).

What is their role in J16? I can spot them too but what to do with them when I spot a box?

http://www.forexfactory.com/attachme...1&d=1296789745


Good Question Adi.

Hopefully Mike. Ghous or SC will do a short video.
  • #87,984
  • Feb 4, 2011 1:51am Feb 4, 2011 1:51am
Quoting Pinbar
Good Question Adi.

Hopefully Mike. Ghous or SC will do a short video.
Hey Pinbar, oh a video about this would be just awesome!
  • #87,985
  • Feb 4, 2011 1:58am Feb 4, 2011 1:58am
Quoting Adilius07
How can I better understand the purpose of boxes you guys draw that often.
The one on top the other like in this pic means we have a better choice taking long setup? (because one box is built on top of the other) But many times there would be a top box too (further left).

What is their role in J16? I can spot them too but what to do with them when I spot a box?

Quoting Pinbar
Good Question Adi.

Hopefully Mike. Ghous or SC will do a short video.

You guys are over-analyzing... it's just a way to see where the S/R is that creates the price flip (PPZ)

nothing more.
Many choose unhappiness over uncertainty.
  • #87,986
  • Feb 4, 2011 2:02am Feb 4, 2011 2:02am
Quoting Dan Gilbert
You guys are over-analyzing... it's just a way to see where the S/R is that creates the price flip (PPZ)

nothing more.
Hey Dan, so the boxes are nothing more than that?
Then Mike's pic is equal to this PPZ I have?

I was thinking it has something to do with potential box forming somewhere after the current box, like in Mike's pic it is more likely for the next box to form on top instead the bottom....
http://www.forexfactory.com/attachme...1&d=1296789745
Attached Image (click to enlarge)
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  • #87,987
  • Feb 4, 2011 2:03am Feb 4, 2011 2:03am
Quoting Dan Gilbert
You guys are over-analyzing... it's just a way to see where the S/R is that creates the price flip (PPZ)

nothing more.

Yeah, I think we know.
We need to find out how to get out of that.

Thanks Dan

I realize, they are just matching or close together bar lows or highs and the PPZ is in between.
Just like the Big guy showed in that video.
  • #87,988
  • Feb 4, 2011 2:04am Feb 4, 2011 2:04am
Quoting sammy31
There is a pinbar on the daily cadchf, does that look like a good setup?
Hi Sammy31,my opinion is that the pin looks great but it is right above 0.9500.If price reaches 0.9650 witch looks more reliable to me we might think to short this pair.It seems that nobody noticed but you have your fibo drawn backwards,been there done that,not a big problem,hope it helps.
Attached Image (click to enlarge)
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  • #87,989
  • Feb 4, 2011 2:05am Feb 4, 2011 2:05am
And it finally happened . Last strong blow thru 1.3800 was very fishy and it put a lot of traders on the wrong side of market. 1.344 here we come? & will GU follow?

Friday + nonfarms... hold tight , NFP have the power to change trends and GU BEOB is giving some hints
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU.PNG Size: 41 KB
Click to Enlarge Name: GU.PNG Size: 42 KB
  • #87,990
  • Feb 4, 2011 2:06am Feb 4, 2011 2:06am
Quoting madboy
Hi Sammy31,my opinion is that the pin looks great but it is right above 0.9500.If price reaches 0.9650 witch looks more reliable to me we might think to short this pair.It seems that nobody noticed but you have your fibo drawn backwards,been there done that,not a big problem,hope it helps.
Actually it is not even a PB.
It closed outside the eye of the previous bar.


EDIT: No, it didn't.

Couldn't see the wick of the previous bar.

Still, I think it is in traffic.
  • #87,991
  • Feb 4, 2011 2:09am Feb 4, 2011 2:09am
Quoting Adilius07
Hey Dan, so the boxes are nothing more than that?
Then Mike's pic is equal to this PPZ I have?

I was thinking it has something to do with potential box forming somewhere after the current box, like in Mike's pic it is more likely for the next box to form on top instead the bottom....
well, it is a way to see how the price consolidation (inside the box) has highs and lows, that act as resistance, and then support, and vice-versa. the old highs of old consolidation, act as new lows after price breaks out of the old consolidation.

CHFJPY is a good example:
Attached Image (click to enlarge)
Click to Enlarge Name: boxes.gif Size: 16 KB
Many choose unhappiness over uncertainty.
  • #87,992
  • Feb 4, 2011 2:10am Feb 4, 2011 2:10am
Quoting Pinbar
Actually it is not even a PB.
It closed outside the eye of the previous bar.


EDIT: No, it didn't.

Couldn't see the wick of the previous bar.

Still, I think it is in traffic.
On my feed Fxpro demo,the close is 2 pips below the left eye.
  • #87,993
  • Edited 2:26am Feb 4, 2011 2:12am | Edited 2:26am
Quoting Adilius07
How can I better understand the purpose of boxes you guys draw that often.
The one on top the other like in this pic means we have a better choice taking long setup? (because one box is built on top of the other) But many times there would be a top box too (further left).

What is their role in J16? I can spot them too but what to do with them when I spot a box?
Hi Ad,

The way I play them is wait for the breakout, although I sometimes get in anticipating the move and that invariably acrews me. Having said that I wish I had anticipated this move....

I posted this chart a couple of days ago and Mike pointed out the H&S(thanks Mike) its now broken out so I'm looking for a good entry.... think this one could be a runner.

http://www.forexfactory.com/showpost...ostcount=87714
  • #87,994
  • Feb 4, 2011 2:14am Feb 4, 2011 2:14am
Quoting Dan Gilbert
well, it is a way to see how the price consolidation (inside the box) has highs and lows, that act as resistance, and then support, and vice-versa. the old highs of old consolidation, act as new lows after price breaks out of the old consolidation.

CHFJPY is a good example:
Thanks Dan, I thought something else about them. So I can just draw lines then.
  • #87,995
  • Feb 4, 2011 2:16am Feb 4, 2011 2:16am
Quoting stewrigh
Hi Ad,

The way I play them is wait for the breakout, although I sometimes get in anticipating the move and that invariably acrews me. Having said that I wish I had anticipated this move....

I posted this chart a couple of days ago and Mike pointed out the H&S(thanks Mike) its now broken out so I'm looking for a good entry.... thinhk this one could be a runner.

http://www.forexfactory.com/showpost...ostcount=87714
Ah yes, breakout and retest kind of setup. But we can also play the same at PPZ. I mean you can draw one line on top and the other at the bottom and still have the same setup to trade.
  • #87,996
  • Feb 4, 2011 2:18am Feb 4, 2011 2:18am
Quoting Adilius07
Thanks Dan, I thought something else about them. So I can just draw lines then.
You can, but the boxes might help point you to multi-week-highs/lows, or multi-day-highs/lows that hold more significance when "flipping"
Many choose unhappiness over uncertainty.
  • #87,997
  • Feb 4, 2011 2:20am Feb 4, 2011 2:20am
Quoting Dan Gilbert
You can, but the boxes might help point you to multi-week-highs/lows, or multi-day-highs/lows that hold more significance when "flipping"
Yes, looking at the chart that Stewrigh shows looks as the box is easier to spot actually than the flip itself..

http://www.forexfactory.com/attachme...1&d=1296673138
  • #87,998
  • Feb 4, 2011 2:28am Feb 4, 2011 2:28am
Quoting Adilius07
Yes, looking at the chart that Stewrigh shows looks as the box is easier to spot actually than the flip itself..
Here is an example that I actually traded when it happened (bought at 109.00). I had nearly zero drawdown (almost just the spread), and closed out the second half of the trade @ 109.90.

3R return on this one. It doesn't always work out this flawlessly, but you get the idea.....
Attached Image
Many choose unhappiness over uncertainty.
  • #87,999
  • Feb 4, 2011 2:28am Feb 4, 2011 2:28am
Quoting madboy
On my feed Fxpro demo,the close is 2 pips below the left eye.

Yes, you are right.
I edited and corrected that.
  • #88,000
  • Feb 4, 2011 2:30am Feb 4, 2011 2:30am
Quoting Dan Gilbert
Here is an example that I actually traded when it happened (bought at 109.00). I had nearly zero drawdown (almost just the spread), and closed out the second half of the trade @ 109.90.

3R return on this one. It doesn't always work out this flawlessly, but you get the idea.....
This looks very nice indeed! May I ask how did you trail it to get 3R return?
Or you just had fixed target maybe?
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