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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

  • #88,901
  • Feb 13, 2011 6:54pm Feb 13, 2011 6:54pm
Quoting ppfx
Wow im gone for 2-3 weeks and you already started to make videos. You've come a loooong way since May 2010. You are becoming the next Jarroo. Keep up the good work.

Thanks for the kind words but, not at all.

As Jarroo pointed out, I am just trying to get my head together.

Got to keep it simple, them work from there.
  • #88,902
  • Feb 13, 2011 7:09pm Feb 13, 2011 7:09pm
Quoting jarroo
Nice video Steve . .


Just remember that FTAs can be the final target or an area in which you adjust your trade management. i.e. James16's "This is Critical", Mike's 2 bar exit . .etc.

Targets (FTAs) in blue. The main PPZ level or S/R level (in green) would be the main target which, I think, you were pointing out.

Keep doing those videos, Steve . .I know they're helping others and I know they're helping you too . . ..

Thanks for the kind words Jarroo as you know, I am just trying to get my head together with the video.

Yes, I understand that we should treat the FTA as the edge of the precipice and make sure we have our safety line tied on well.

I have a question about this BEOB, I thought the location or at least how it broke through the PPZ and closed below it was good. Yet, you seemed to have the reverse opinion that, the bar was good but the location was bad.

Just looked over the weekly chart and see your point.
Yeah, it looked good on the daily but wow, the weekly really is a different story.
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  • #88,903
  • Feb 13, 2011 7:32pm Feb 13, 2011 7:32pm
Quoting Pinbar
Thanks for the kind words Jarroo as you know, I am just trying to get my head together with the video.

Yes, I understand that we should treat the FTA as the edge of the precipice and make sure we have our safety line tied on well.

I have a question about this BEOB, I thought the location or at least how it broke through the PPZ and closed below it was good. Yet, you seemed to have the reverse opinion that, the bar was good but the location was bad.

Just looked over the weekly chart and see your point.
Yeah, it looked good on the daily but...
The reason I said that the location was "bad' was because we like our BEOBs at swing Highs. . .this BEOB is at a Swing Low.


The Story is great because on the Weekly we had strong Support . .PBT&CB . . . and turn this level, 16.75, into Resistance. The BEOB was at Resistance where we like them.

I believe your Weekly line is in the wrong place . . .that's if we're talking about the same thing.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,904
  • Feb 13, 2011 7:42pm Feb 13, 2011 7:42pm
Quoting Dan Gilbert
Yes. My favorite setup

Looking good Dan . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #88,905
  • Feb 13, 2011 7:45pm Feb 13, 2011 7:45pm
Quoting Pinbar
Thanks for the kind words Jarroo as you know, I am just trying to get my head together with the video.

Yes, I understand that we should treat the FTA as the edge of the precipice and make sure we have our safety line tied on well.

I have a question about this BEOB, I thought the location or at least how it broke through the PPZ and closed below it was good. Yet, you seemed to have the reverse opinion that, the bar was good but the location was bad.

Just looked over the weekly chart and see your point.
Yeah, it looked good on the daily but...

Remember . . . this setup is in your signature. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #88,906
  • Feb 13, 2011 7:51pm Feb 13, 2011 7:51pm
Quoting ghous
You're saying it the other way around. Its Ghous who is not changing a thing that James16 has pointed out.

lol

lol Good one g. . .
Indicators show the past. Price Action "Indicates" the future.
  • #88,907
  • Feb 13, 2011 7:56pm Feb 13, 2011 7:56pm
Jarroo, I think I just confused myself even more.

I mean, we often hear people say they want to see a strong PPZ violated then a pullback with PA. Isn't this exactly what we got with that daily BEOB, if we are talking about the perspective of the daily TF.

I understand the weekly situation now.

But, the point above confuses me as, I see this mentioned so many times. If a daily PPZ is violated and we have a pullback to it with bearish PA in this case, is this not a valid entry and wouldn't the weekly PPZ then become the FTA?
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  • #88,908
  • Feb 13, 2011 8:00pm Feb 13, 2011 8:00pm
Quoting Pinbar
Jarroo, I think I just confused myself even more.

I mean, we often hear people say they want to see a strong PPZ violated then a pullback with PA. Isn't this exactly what we got with that daily BEOB, if we are talking about the perspective of the daily TF.

I understand the weekly situation now.

But, the point above confuses me as, I see this mentioned so many times. If a daily PPZ is violated and we have a pullback to it with bearish PA in this case, is this not a valid entry and wouldn't the weekly PPZ then become the FTA?
I'm not sure what "Weekly FTA" you're talking about . .for the Daily BEOB ??
Indicators show the past. Price Action "Indicates" the future.
  • #88,909
  • Feb 13, 2011 8:17pm Feb 13, 2011 8:17pm
Hey pb . . .remember this chart . .Usd/Mxn.

I always check out this pair when I'm on the FXDD feed.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,910
  • Feb 13, 2011 8:19pm Feb 13, 2011 8:19pm
hi, first time posting, as with others been lurking for a little while. I was curious about the nzdcad if that would be considered a pinbar and if so what impact the gap might have on it. Would it be one a seasoned person might seriously consider?
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  • #88,911
  • Feb 13, 2011 8:28pm Feb 13, 2011 8:28pm
Quoting jarroo
I'm not sure what "Weekly FTA" you're talking about . .for the Daily BEOB ??
Ok, the 16.92 area is the pullback on that daily BEOB.
Looks like a clear flip area?

On the weekly chart, we can see that there is a clear area of support below it and, that is what I am referring to as the FTA.
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  • #88,912
  • Feb 13, 2011 8:37pm Feb 13, 2011 8:37pm
Quoting Pinbar
Ok, the 16.92 area is the pullback on that daily BEOB.
Looks like a clear flip area?

On the weekly chart, we can see that there is a clear area of support below it and, that is what I am referring to as the FTA.
As all of James charts are I think if you just keep it simple to see what's there in the most basic sense it makes all the additional tools more powerful

Here was a simple breakout of a former area and price pulled back sharply in a strong breakout down. So since it pulled back we know where price is likely to go(blue box). For me an ideal situation is the high of the beob hits the former breakout area, I look to the former low for trouble and help me in trade mgmt.

Simple don't over do it , like the big guys charts

Mike
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  • #88,913
  • Feb 13, 2011 8:38pm Feb 13, 2011 8:38pm
Quoting Pinbar
Ok, the 16.92 area is the pullback on that daily BEOB.
Looks like a clear flip area?

On the weekly chart, we can see that there is a clear area of support below it and, that is what I am referring to as the FTA.

No, the FTA or target(s) would be on the TF that the setup it was presented on. The BEOB's would be the previous bar Highs or Lows . .in this case, the previous bar Lows, in blue.

As a longer term target, not FTA, a Weekly PPZ level or S/R level would be something to shoot for . . .like say the 15.70 . .check your weekly for this level.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,914
  • Feb 13, 2011 8:40pm Feb 13, 2011 8:40pm
Quoting mbqb11
As all of James charts are I think if you just keep it simple to see what's there in the most basic sense it makes all the additional tools more powerful

Here was a simple breakout of a former area and price pulled back sharply in a strong breakout down. So since it pulled back we know where price is likely to go(blue box). For me an ideal situation is the high of the beob hits the former breakout area, I look to the former low for trouble and help me in trade mgmt.

Simple don't over do it , like the big guys charts

Mike

Thanks Mike

But, this is the problem, that setups seems very similar to the one I posted.
Jarrroo is of the opinion that the BEOB is at a swing low.

If this this is the case, isn't that setup also at a SL?
  • #88,915
  • Feb 13, 2011 8:45pm Feb 13, 2011 8:45pm
Quoting jarroo
Great chart g . . I like that 1.3300 on the Eur/Chf too for the reasons on your chart. . .now if price can get there . .
I'm wondering if the 1.3250 could be an important level before the 1.3300.
Cheers,
John
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  • #88,916
  • Feb 13, 2011 8:45pm Feb 13, 2011 8:45pm
Quoting Pinbar
Thanks Mike

But, this is the problem, that setups seems very similar to the one I posted.
Jarrroo is of the opinion that the BEOB is at a swing low.

If this this is the case, isn't that setup also at a SL?
It is the same exact setup Pin

The beob is near a swing low(or a very very very minor swing high), this doesn't make it not tradeable. Learning to play these at good swing highs is where people should start, but after you realize the power of the tools at hand you can play them in all kinds of spots. Here is a case where price was breaking out sharply, pulled back slightly gave a nice size beob. Because of the lack of swing high the FTA becomes closer at the previous swing low where price reversed. Nothing more here.

Best
Mike
  • #88,917
  • Feb 13, 2011 8:52pm Feb 13, 2011 8:52pm
Quoting mbqb11
It is the same exact setup Pin

The beob is near a swing low(or a very very very minor swing high), this doesn't make it not tradeable. Learning to play these at good swing highs is where people should start, but after you realize the power of the tools at hand you can play them in all kinds of spots. Here is a case where price was breaking out sharply, pulled back slightly gave a nice size beob. Because of the lack of swing high the FTA becomes closer at the previous swing low where price reversed. Nothing more here.

Best
Mike
Thanks Mike, I thought I was losing my mind.

I see, it is silver on your chart and XAG/USD on mine.

Maybe I confused Jarroo with my chart.
It seemed like a decent setup but the FTA was close, not too close to trade but I understand it was close.
I think it would have been much better at a good SH, but I couldn't get my mind around what Jarroo was saying about it not being at a SH.
  • #88,918
  • Feb 13, 2011 8:56pm Feb 13, 2011 8:56pm
Quoting Pinbar
Thanks Mike, I thought I was losing my mind.

I see, it is silver on your chart and XAG/USD on mine.

Maybe I confused Jarroo with my chart.
It seemed like a decent setup but the FTA was close, not too close to trade but I understand it was close.
I think it would have been much better at a good SH, but I couldn't get my mind around what Jarroo was saying about it not being at a SH.
xag/usd is silver spot market

The swing points will give you an idea of what kind of room you have to run. Starting with the basics like James teaches with these locations is priority one. This would be a beob at a very minor swing high, but it is near a swing low, thus the FTA we can define as the previous low where price last turned. But b/c of surrounding confluence one can build a story of why this is still an appropriate trade to take.

Again I very much reside in the camp that until someone can trade the most basic of PA at the most basic obvious locations trying to do too much can really make things more difficult. Over time you learn all these things and either will or will not integrate various other locations and tools. It's hard to be able to stick to the very basics and not over complicate what is like James says "dirt simple"

Take care
Mike
  • #88,919
  • Feb 13, 2011 9:02pm Feb 13, 2011 9:02pm
Quoting johoma
I'm wondering if the 1.3250 could be an important level before the 1.3300.
Cheers,
John

Yes, absolutely John . .many bar Highs and Lows lining up there.

I just like how the 1.33 and 61.8 fib lined up nicely on ghous chart, nice locational confluence.
Indicators show the past. Price Action "Indicates" the future.
  • #88,920
  • Feb 13, 2011 9:05pm Feb 13, 2011 9:05pm
Quoting jarroo
Hey pb . . .remember this chart . .Usd/Mxn.

I always check out this pair when I'm on the FXDD feed.
What a story to this chart ....Nice job Jim
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