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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

  • #88,581
  • Feb 10, 2011 2:09am Feb 10, 2011 2:09am
Quoting supremeChaos
here's a very quick, rough one i plotted for u.

if it gets difficult to plot PPZs, S/R's, starting with a line chart (focusing on Closing Prices) might help.
afterwhich, u can switch between line chart, candle chart, bar chart (in any order u prefer) to refine the lines &/or to add a few more lines u might have missed along the plotting process.
Firstly SC i love ya work mate............

Enjoy youre posts a lot!

I wanted to ask personally do you norm mark lines like you have given for example for USDCAD or do you only mark say 1 or 2 lines closest to the current price?

Thanks in advance.
  • #88,582
  • Feb 10, 2011 2:26am Feb 10, 2011 2:26am
Quoting Fxpat
....
I wanted to ask personally do you norm mark lines like you have given for example for USDCAD or do you only mark say 1 or 2 lines closest to the current price?..
hello Fxpat,
if i understood u correctly...
i personally mark them like in that post (remember it was a rough, quick post), but i place a slightly more emphasis/importance on lines (PPZs, S/R's) that are at & near the current price.

for example, i would place more importance on lines i plotted relating to 2010/2011 prices, than on lines plotted spanning back to 2007.
another example... i would place more importance on lines i plotted relating to Jan/Feb 2011 prices, than on lines plotted on Dec2010 backwards.
the reason being the current/recent lines represent the latest, current &/or recent supply & demand 'battle'.

the key words are 'more importance/emphasis', rather than 'exclusive emphasis/importance'.

hope that helps a bit!
  • #88,583
  • Feb 10, 2011 2:33am Feb 10, 2011 2:33am
Quoting supremeChaos
hello Fxpat,
if i understood u correctly...
i personally mark them like in that post (remember it was a rough, quick post), but i place a slightly more emphasis/importance on lines (PPZs,
the key words are 'more importance/emphasis', ra

Heya,

I was more asking if thats an accurate representation of the amount of lines your charts actually have on them day in and day out?

I'm guessing from your reply you do.

Sorry im just interested in how others do it, thats all.

Thanks mate.
  • #88,584
  • Feb 10, 2011 2:38am Feb 10, 2011 2:38am
Quoting Fxpat
...
I was more asking if thats an accurate representation of the amount of lines your charts actually have on them day in and day out?
.....
i see..

for that particular chart, being usdcad & a weekly chart, the answer is yes.
most likely, i'll have additional lines on Daily chart & below (since i trade daily & below).

for other currency pairs, i might have more lines (it depends on PA, whether ranging or trending; as u can see, usdcad is choppy so lines & the prices, are limited in a certain area).
others here are more simplistic, so im sure they have much less lines than mine.
  • #88,585
  • Feb 10, 2011 2:40am Feb 10, 2011 2:40am
Quoting Pinbar
Yes Spookie, the USD/CAD is a hard one, I have been struggling with it all week to define the areas on the weekly. Hopefully, Jarroo will post about this USD/CAD when he gets time.

Got to go out and buy a new mouse. Will post my rough idea on it when I get back. You found a good one to test us there Spookie.
Heya Pin,

a bit off topic, but I just wanted to say high and i've personally loved watching your trading journey in here. At times ive cringed and thought and laughed (at myself) thinking how I made the same mistakes but a lot worse.

You have come a lopng long way in even the last 6 months alone. Keep up the good work.

And keep that fire and character that adds a little spark to this place!

I find you a very different trader to myself in little ways and I love that. I love seeing different styles with in the same method. I guess thats why I loved your journal you had in FF that I no longer can find...... Is this a permanent thing or will your journal be coming back sometime?

Thanks mate,

PAT.
  • #88,586
  • Feb 10, 2011 2:49am Feb 10, 2011 2:49am
Quoting therealdrag0
Hey guys and gals.
...
So I'm like, hm okay, I'll load up that chart (I had only the majors open). And there was indeed action. So I did some analysis and I'm wondering what your guys thoughts are on what I've done.
....
hello Zachariah,
im not sure what your question is..
u seem to imply that touches of fib levels are trade setups in itself?
well not necessarily.

we usually trade with particular PA setups (pinbar, BUOB, etc) on certain locations with confluence.
do keep reading!& posts questions along the way
  • #88,587
  • Feb 10, 2011 2:51am Feb 10, 2011 2:51am
Quoting Greenhaze
Lets see....

1. Strong Support ....Check!
2. VBRN ....Check!
3. FIB 50% ....Check!
4. Trendline confluence ....Check!
I like your trade idea. The only thing I would be carefull of is buying after a breakout of those lows could be some momentum down.

cheers

fxp
  • #88,588
  • Feb 10, 2011 2:54am Feb 10, 2011 2:54am
Quoting supremeChaos
i see..

for that particular chart, being usdcad & a weekly chart, the answer is yes.
most likely, i'll have additional lines on Daily chart & below (since i trade daily & below).
Thanks a bunch SC for your explanation. As ive just said to Pin, im just interested in others and how they go about it. Ive seen many many of your posts but rarely a chart so I was curious to see how you do it.

Yeah I pers have 1 or 2 lines tops. Either visualise the rest or if I find an entry and maybe work backwards a little. For me im a really really simple guy and I have the opposite of what most peoples problem is. I attempt to make things to simple!

Thanks again.
  • #88,589
  • Feb 10, 2011 2:55am Feb 10, 2011 2:55am
Quoting fxprocessor
I like your trade idea. The only thing I would be carefull of is buying after a breakout of those lows could be some momentum down.

cheers

fxp
Oh, and the interest rate announcement could ruin the best technical trade plans :-)
  • #88,590
  • Feb 10, 2011 2:57am Feb 10, 2011 2:57am
Quoting Fxpat
.... Ive seen many many of your posts but rarely a chart so I was curious to see how you do it.....
yeah, sorry i goof around more.

Quoting fxprocessor
I like your trade idea. The only thing I would be careful of is buying after a breakout of those lows could be some momentum down.
...
valid point.
  • #88,591
  • Feb 10, 2011 3:07am Feb 10, 2011 3:07am
Quoting supremeChaos
here's a very quick, rough one i plotted for u.

if it gets difficult to plot PPZs, S/R's, starting with a line chart (focusing on Closing Prices) might help.
afterwhich, u can switch between line chart, candle chart, bar chart (in any order u prefer) to refine the lines &/or to add a few more lines u might have missed along the plotting process.

1st chart: usdcad weekly, line chart
2nd chart: usdcad weekly, candle chart
3rd chart: usdcad weekly, candle chart, zoomed in

take note that all the lines were made off of the line chart (1st chart).
only...
Hey Supremo

Thanks for your post on plotting PPZ when its not particularly clear. I had not thought of using the line charts as an initial point for plotting these zones but you offer a very good method of doing so here. The problem some of us seem to have is that we want a PPZ to the exact pip but as you rightly point out these areas are ZONES.

Thanks for a good instructive post supremo.

Kal
  • #88,592
  • Feb 10, 2011 3:15am Feb 10, 2011 3:15am
Quoting Fxpat
Heya Pin,

a bit off topic, but I just wanted to say high and i've personally loved watching your trading journey in here. At times ive cringed and thought and laughed (at myself) thinking how I made the same mistakes but a lot worse.

You have come a lopng long way in even the last 6 months alone. Keep up the good work.

And keep that fire and character that adds a little spark to this place!

I find you a very different trader to myself in little ways and I love that. I love seeing different styles with in the same method. I guess thats why...

I moved it to the PF.
Been busy and can not really keep it up at the moment.
You only joined the thread on the 7th?
  • #88,593
  • Feb 10, 2011 3:22am Feb 10, 2011 3:22am
Note to self:

It's Thursday of a pretty uneventful week.
Be extra picky

Morning all
  • #88,594
  • Feb 10, 2011 3:23am Feb 10, 2011 3:23am
Quoting Pinbar
I moved it to the PF.
Been busy and can not really keep it up at the moment.
You only joined the thread on the 7th?
Yep just joined other day. I have watched this thread for a few years now and its been only thread ive watched. Never felt a need or had time to say anything, hence no sign up. Have been flat out just keeping up with the posts as it is!
  • #88,595
  • Feb 10, 2011 3:32am Feb 10, 2011 3:32am
Quoting Ifmyante
Note to self:

It's Thursday of a pretty uneventful week.
Be extra picky

Morning all

Spot on Ify, this is where we wait, we are snipers waiting in the bushes!! Ready to act but knowing the name of the game is waiting..............

Kal
  • #88,596
  • Feb 10, 2011 3:54am Feb 10, 2011 3:54am
My mind goes into the box phase with the USD/CAD chart, on the daily.

SC did a great job on the line chart but, it just makes me crazy trying to work this out on the weekly.

The thing that is confusing I think is that, we have alternating ranging going on large boxes then smaller boxes and overlapping boxes.
I mean, a range seems to establish then it breaks out and sort of starts a new range half inside the older ranges.
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  • #88,597
  • Feb 10, 2011 3:54am Feb 10, 2011 3:54am
Quoting therealdrag0
Hey guys and gals.
I found this thread within the last couple days. And after reading around I'm sold .

I'm one of those guys that has been fiddling around in FX for 9 months now. I've had the same demo account that whole time. And even though it was funded for 50k I traded pocket change. lol. So I'm pretty good about being a miser even on demo .

Anyways, I've tried all sorts of things including auto trading (Forex Strategy Builder). My first education was going through the Babypips.com school. It's a good intro. Then I read in order:...
Hi Zachariah, and welcome

You certainly did find the best place to learn.

I'm not sure about what each of your arrows signifies, but your chart is one I'm looking at at the moment.
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  • #88,598
  • Feb 10, 2011 3:59am Feb 10, 2011 3:59am
daily and 4h eur usd chart.
Daily candle closed below ppz (in my book) 1.3750. I just trade a touch because of the time here (europe).
I looked at the 4h and see a i4b? i'm not really focussed on IB yet.

Was this a good i4b with the story of the daily close in mind?
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  • #88,599
  • Feb 10, 2011 4:05am Feb 10, 2011 4:05am
Quoting Pinbar
..
The thing that is confusing I think is that, we have alternating ranging going on large boxes then smaller boxes and overlapping boxes.
I mean, a range seems to establish then it breaks out and sort of starts a new range half inside the older ranges.
usdcad is essentially in a range on weekly. it would consequentially reflect this (ranging) on lower timeframes. so, it is not confusing at all.
i think u are overanalyzing it again.

usdcad might be good for PPZ plotting right now, but might not be good to trade at the moment (depending on how u trade, of course).
  • #88,600
  • Feb 10, 2011 4:06am Feb 10, 2011 4:06am
If this 1 hr pin breaks north I am in.

Comments??
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