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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

  • #90,001
  • Feb 23, 2011 11:48pm Feb 23, 2011 11:48pm
Quoting jarroo
Classic . .
340 pips with the gbpchf so far :-).
  • #90,002
  • Feb 23, 2011 11:56pm Feb 23, 2011 11:56pm
Quoting gladiator123
teacher,

not because i dont know... this dballerz.... didnt allow me to explain...and he explained it earlier........poor me.....lol..
~~~~~~~~~

I have attached the chart... please tell me if i have drawn the levels correctly. I see the FTA is too near so its not tradable. As dballerz explained the third candle is not a pin but a neutral candle it is not tradable. am i right in my analysis?



EDIT: waiting for Pinbar to finish his chart with PBT&CA and B to copy and learn from him in the class..
Thanks Steve, for that higher time frame perspective.

When we have a clear level of Support and PBT&CB, that level of Support will usually turn into Resistance (and vice versa).

So my feed may not show your PA formation ( which were ..to be honest . .not that strong in size or structure). But the main point is that we don't want to be trading into these levels once these levels are established.

Does this make sense ?
Attached Image (click to enlarge)
Click to Enlarge Name: euroglad.jpg Size: 93 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,003
  • Feb 23, 2011 11:56pm Feb 23, 2011 11:56pm
Quoting DBallerz
340 pips with the gbpchf so far :-).
Indicators show the past. Price Action "Indicates" the future.
  • #90,004
  • Feb 24, 2011 12:00am Feb 24, 2011 12:00am
Quoting The Lord
Interesting..
Attachment
Yes indeed, especially when looking at even bigger TF's, and the 150 EMA, 61.8 retracement stacked up with it.

edit: safe to say this is about as A+ as it can get lol....
Attached Image (click to enlarge)
Click to Enlarge Name: vital2.gif Size: 27 KB
Attached Image
Many choose unhappiness over uncertainty.
  • #90,005
  • Feb 24, 2011 12:01am Feb 24, 2011 12:01am
Quoting jarroo
very solid close below 1.5, I still have 1/2 position in...what to do...what to do...
  • #90,006
  • Feb 24, 2011 12:01am Feb 24, 2011 12:01am
Quoting jarroo
Thanks Steve, for that higher time frame perspective.

When we have a clear level of Support and PBT&CB, that level of Support will usually turn into Resistance (and vice versa).

So my feed may not show your PA formation ( which were ..to be honest . .not that strong in size or structure). But the main point is that we don't want to be trading into these levels once these levels are established.

Does this make sense ?
ya jaroo.... understood... thanks for the clear explanation
  • #90,007
  • Feb 24, 2011 12:03am Feb 24, 2011 12:03am
Quoting DBallerz
very solid close below 1.5, I still have 1/2 position in...what to do...what to do...

Like to see if we can get a close below the 1.5 on the Daily this week.
Indicators show the past. Price Action "Indicates" the future.
  • #90,008
  • Feb 24, 2011 12:10am Feb 24, 2011 12:10am
Quoting Dan Gilbert
Yes indeed, especially when looking at even bigger TF's, and the 150 EMA, 61.8 retracement stacked up with it.

edit: safe to say this is about as A+ as it can get lol....

They say that PA is respected more in futures market . .I would be very surprised if this doesn't work out.


On your Eur/Aud Weekly I4B . .This is how I like these compression type setup to behave . .robust breakout and never look back . .. I guess the others had a bit more traffic to allow for a retrace.

Just some thoughts,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #90,009
  • Feb 24, 2011 12:14am Feb 24, 2011 12:14am
Quoting jarroo
They say that PA is respected more in futures market . .I would be very surprised if this doesn't work out.


On your Eur/Aud Weekly I4B . .This is how I like these compression type setup to behave . .robust breakout and never look back . .. I guess the others had a bit more traffic to allow for a retrace.

Just some thoughts,

Jim

Yes this pin on wheat is sick. I imagine if Jim is anywhere near his screens he is on this one....

As far as the I4b's go, I agree. I just get out if they don't want to run away into profit from my entry quickly. I did anticipate a re-test of 1.36 though, still haven't seen it..... Although a pair like EURAUD may experience fluctuations based more on the action in E/U and A/U than on the S/R of itself....
Many choose unhappiness over uncertainty.
  • #90,010
  • Feb 24, 2011 12:19am Feb 24, 2011 12:19am
Quoting Dan Gilbert
Yes this pin on wheat is sick. I imagine if Jim is anywhere near his screens he is on this one....

As far as the I4b's go, I agree. I just get out if they don't want to run away into profit from my entry quickly. I did anticipate a re-test of 1.36 though, still haven't seen it..... Although a pair like EURAUD may experience fluctuations based more on the action in E/U and A/U than on the S/R of itself....
Yeah I was looking for the retrace to the 1.36 as well . .that's why I'm not in it . . lol

Intersting how that Euro Daily I4B found Support again at its top. . .but then again it was at a PPZ level.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #90,011
  • Feb 24, 2011 12:24am Feb 24, 2011 12:24am
Quoting jarroo
Yeah I was looking for the retrace to the 1.36 as well . .that's why I'm not in it . . lol

Intersting how that Euro Daily I4B found Support again at its top. . .but then again it was at a PPZ level.
that euro daily was prior to one wild whipsaw. No way I was sitting through that.

Overall market action seems volatile to me. Yes it is neat we saw so much new support after the i4b, but from a reasonable trading standpoint, I don't see it.....
Many choose unhappiness over uncertainty.
  • #90,012
  • Feb 24, 2011 12:25am Feb 24, 2011 12:25am
Quoting Dan Gilbert
that euro daily was prior to one wild whipsaw. No way I was sitting through that.

Overall market action seems volatile to me. Yes it is neat we saw so much new support after the i4b, but from a reasonable trading standpoint, I don't see it.....
That's to bad.
Indicators show the past. Price Action "Indicates" the future.
  • #90,013
  • Feb 24, 2011 12:32am Feb 24, 2011 12:32am
Quoting jarroo
That's to bad.
I know....

Even in hindsight I cannot see myself anticipating 3 more touches on the I4B high over the course of 4 days.

Market has a mind of it's own. I'll watch from the harbor during a storm.
Many choose unhappiness over uncertainty.
  • #90,014
  • Feb 24, 2011 12:33am Feb 24, 2011 12:33am
Quoting Dan Gilbert
I know....

Even in hindsight I cannot see myself anticipating 3 more touches on the I4B high over the course of 4 days.

Market has a mind of it's own. I'll watch from the harbor during a storm.

But you can see it as a Support level, right?
Indicators show the past. Price Action "Indicates" the future.
  • #90,015
  • Feb 24, 2011 12:35am Feb 24, 2011 12:35am
Quoting jarroo
They say that PA is respected more in futures market . .I would be very surprised if this doesn't work out.


On your Eur/Aud Weekly I4B . .This is how I like these compression type setup to behave . .robust breakout and never look back . .. I guess the others had a bit more traffic to allow for a retrace.

Just some thoughts,

Jim
Do you guys have any recommendations for brokers in futures trading in the US?
  • #90,016
  • Feb 24, 2011 12:38am Feb 24, 2011 12:38am
Quoting jarroo
But you can see it as a Support level, right?
certainly.
Many choose unhappiness over uncertainty.
  • #90,017
  • Feb 24, 2011 12:40am Feb 24, 2011 12:40am
Quoting Dan Gilbert
certainly.
Then why did you say 'from a reasonable trading stantpoint, I don't see it ." . .

You see it.
Indicators show the past. Price Action "Indicates" the future.
  • #90,018
  • Feb 24, 2011 12:43am Feb 24, 2011 12:43am
Quoting Dan Gilbert
certainly.
This isn't for you Dan . .I got a PM that said, "I don't see it"

I'll put it here on the thread.
Attached Image (click to enlarge)
Click to Enlarge Name: euro24a.jpg Size: 114 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,019
  • Feb 24, 2011 12:45am Feb 24, 2011 12:45am
Quoting DBallerz
Do you guys have any recommendations for brokers in futures trading in the US?

Sorry, I don't.
Indicators show the past. Price Action "Indicates" the future.
  • #90,020
  • Feb 24, 2011 1:00am Feb 24, 2011 1:00am
Quoting Ifmyante
How could I have traded this?
Is it too late now?

I don't know why, but my Daily chart won't upload. It showed PBT&CA.

I would love to have touch traded long at PPZ, but the last time I tried that I got burned. I know I shouldn't let that affect me, but that highest bar to the left kept me out.
Hey Ifmy.

Using PBT&CAorB as a TT can be tough. The key to their success is a very strong level, i.e. BRNs, RNs, mutliple Highs-Lows -Closes . .forming , building a strong level of Support or Resistance. On the Chf/Jpy, that's tough to find, to say the least .. lol

On the higher time frames, you can find these strong level. And your multi bar high was a good one, Ifmy. . .but thye're still tricky with this pair.

You can see the 85.00 BRN had a nice build.

These are much easier to find and trade on the USD pairs . .I'm finding.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy24cc.jpg Size: 122 KB
Indicators show the past. Price Action "Indicates" the future.
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