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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

  • #89,361
  • Feb 17, 2011 3:33pm Feb 17, 2011 3:33pm
Quoting jarroo
I have found that Silver has been (as of late, anyway) a very easy pair . .I mean . .metal to trade. It respects the S/Rs very well.

I didn't but the PBT&CAorB on the chart . .I'm sure you can see them, GH.

Jim
I've read a long article today about how unplayable is silver/gold market from TA perspective. I agree that weekly/monthly tfs are driven by overall market sentiment and risk aversion hence this is more of a 'go with the flow' strategy but author of this article probably forgot to take a look at the lower tfs.
  • #89,362
  • Feb 17, 2011 3:38pm Feb 17, 2011 3:38pm
Quoting Greenhaze
I've read a long article today about how unplayable is silver/gold market from TA perspective. I agree that weekly/monthly tfs are driven by overall market sentiment and risk aversion hence this is more of a 'go with the flow' strategy but author of this article probably forgot to take a look at the lower tfs.
Unplayable? . .wow. .And they forgot to look at this thread too. . .lol

Sounds like they complicate things too much. . .many traders often do.
Indicators show the past. Price Action "Indicates" the future.
  • #89,363
  • Feb 17, 2011 3:44pm Feb 17, 2011 3:44pm
Quoting jarroo
Unplayable? . .wow. .And they forgot to look at this thread too. . .lol

Sounds like they complicate things too much. . .many traders often do.
the term trader is very loosely used here
  • #89,364
  • Feb 17, 2011 3:46pm Feb 17, 2011 3:46pm
Quoting mbqb11
the term trader is very loosely used here
lol
Indicators show the past. Price Action "Indicates" the future.
  • #89,365
  • Feb 17, 2011 3:51pm Feb 17, 2011 3:51pm
Quoting aserbfx
chf/jpy daily approaching resistance area. drop down to lower timeframes for entry.
yum , I will be watching a break to the upside and pullback if we get it
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  • #89,366
  • Edited 4:07pm Feb 17, 2011 3:55pm | Edited 4:07pm
Heres another example for those that PMed me.

Break out pull back with PA.

Can anyone else show an example of this? . . .(Mike, you are excluded from this . .lol). I did go to a lower time frame but it can happen just as well on the same TF.


Edit : I see Mike is showing a real time example . . . .(potentially)
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Indicators show the past. Price Action "Indicates" the future.
  • #89,367
  • Feb 17, 2011 4:13pm Feb 17, 2011 4:13pm
Quoting jarroo
. .(Mike, you are excluded from this . .lol).
dang I feel like I just got picked last in gym
  • #89,368
  • Edited 10:08pm Feb 17, 2011 4:16pm | Edited 10:08pm
Quoting mbqb11
dang I feel like I just got picked last in gym

Ok . .you can play . .. if your want . . . .just don't take you ball and leave.


lollol
Indicators show the past. Price Action "Indicates" the future.
  • #89,369
  • Feb 17, 2011 4:25pm Feb 17, 2011 4:25pm
Hi everybody. Checking in as I do periodically. Saw some new lingo that I have missed since my last visit...

What does PBT&CA mean? (also, CB?). Something about PullBack perhaps? Couldn't figure out the rest.

Didn't see an explanation of the term on the first post. Can someone direct me to a reference post or just define it for me?

Suppose I'd be remiss to not post a chart...Is a PBT&CA represented in this chart?

Glad to see this thread keeps helping those new to the business, and that there are still the pros helping out!

Over and out, Josh
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  • #89,370
  • Feb 17, 2011 4:33pm Feb 17, 2011 4:33pm
Quoting Jduester
Hi everybody. Checking in as I do periodically. Saw some new lingo that I have missed since my last visit...

Over and out, Josh
PBT & CA (B) = price broke through & closed above (below)
  • #89,371
  • Feb 17, 2011 4:40pm Feb 17, 2011 4:40pm
Quoting vasmiza
PBT & CA (B) = price broke through & closed above (below)
thank you much!
makes perfect sense now.
  • #89,372
  • Feb 17, 2011 4:41pm Feb 17, 2011 4:41pm
Quoting Jduester
Hi everybody. Checking in as I do periodically. Saw some new lingo that I have missed since my last visit...

What does PBT&CA mean? (also, CB?). Something about PullBack perhaps? Couldn't figure out the rest.

Didn't see an explanation of the term on the first post. Can someone direct me to a reference post or just define it for me?

Suppose I'd be remiss to not post a chart...Is a PBT&CA represented in this chart?

Glad to see this thread keeps helping those new to the business, and that there are still the pros helping out!

Over...
Thanks vasmiza.

Price Breaks Through and Closes Above or Below is a way of qualifying or confirming Breakouts, Support and Resistance levels and Price Filps or PPZ levels.

Take your Hourly chart for example . .

We have a consolidation area. .Price spikes up a bit but doesn't close above it yet (green). PBT&CA and now we have a potential Support level in the making where bullish PA can be looked for or a retracement which you can see happened.


Good to see you Josh . . long time no see .. .
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Indicators show the past. Price Action "Indicates" the future.
  • #89,373
  • Feb 17, 2011 4:50pm Feb 17, 2011 4:50pm
I wanna be a trader some day

Quoting mbqb11
the term trader is very loosely used here
  • #89,374
  • Feb 17, 2011 4:51pm Feb 17, 2011 4:51pm
Quoting jarroo
Heres another example for those that PMed me.


Can anyone else show an example of this? . . .(Mike, you are excluded from this . .lol). I did go to a lower time frame but it can happen just as well on the same TF.
These aren't best bars, but I think they qualify....maybe we'll see another one soon.
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  • #89,375
  • Feb 17, 2011 4:56pm Feb 17, 2011 4:56pm
Quoting Donkey
These aren't best bars, but I think they qualify....maybe we'll see another one soon.

Excellent D . .they may not be the best bars . . but that added "story" of PBT&CAorB can be all the difference in world. . .meaning its better to know that story then just selecting a random PB.


Indicators show the past. Price Action "Indicates" the future.
  • #89,376
  • Feb 17, 2011 4:56pm Feb 17, 2011 4:56pm
Quoting jarroo
Heres another example for those that PMed me.

Break out pull back with PA.

Can anyone else show an example of this? . . .(Mike, you are excluded from this . .lol). I did go to a lower time frame but it can happen just as well on the same TF.


Edit : I see Mike is showing a real time example . . . .(potentially)
This would have been a nice setup
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  • #89,377
  • Feb 17, 2011 5:01pm Feb 17, 2011 5:01pm
Quoting Ifmyante
This would have been a nice setup

Absolutely, Michael.

This is how we practise and then we Demo the hell out of them.


Nice job




Gotta go

later,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #89,378
  • Feb 17, 2011 5:13pm Feb 17, 2011 5:13pm
Hi guys,

Finally i feel like i am getting in to a little bit of rhythm for my trading.

I have drawn up a list of pairs with lowest spreads from my broker. Every night around 2130 - 2230 pm I scan all of them for Pin bars and Outside bars.

I look for bearish price bar at swing high and bullish price bar as swing low. If I don't see it, I simply move to the next pair. If I do find a pair with above, I figure out the risk i.e bar size + spread and if I can afford it with 2% of total capital.
If I can afford the risk, I will zoom out draw some fibs, ppzs, lows/highs from previous weekly bar and see if its got space to go 2:1 - if it does I take the trade.. that's the entry part done.
need to plan exit now... b/e at ppz..leave the stop where it is until 2:1...take half off at 1:1...trail stop by x pips..x bars.....
Trading is a test match not a Twenty20.
  • #89,379
  • Feb 17, 2011 5:49pm Feb 17, 2011 5:49pm
First time back to parity in a few days ....lookin for 20 pips(1st target/or all) and depending on price action will late half ride to next target with stop to BE
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  • #89,380
  • Feb 17, 2011 6:31pm Feb 17, 2011 6:31pm
Quoting decentchap
Hi guys,

Finally i feel like i am getting in to a little bit of rhythm for my trading.

I have drawn up a list of pairs with lowest spreads from my broker. Every night around 2130 - 2230 pm I scan all of them for Pin bars and Outside bars.
...
Great job chap... regardless of your method, the fact that you have a consistent approach every day inherently builds confidence (assuming you are profitable over a large number of trades). This confidence is what eludes us as newbies because we are always doubting ourselves and not sticking to a consistent approach.

Much luck to you chap.

-- Danny
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