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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

  • #90,841
  • Mar 5, 2011 7:26am Mar 5, 2011 7:26am
Quoting Pinbar
That is not an IB.

The IB has to be completely inside the previous bar, not protruding like that bar.
Sorry. I meant I4B or I3B.
  • #90,842
  • Mar 5, 2011 7:34am Mar 5, 2011 7:34am
Quoting cprao
Sorry. I meant I4B or I3B.
Hey C

An I4b, is still an inside bar just smaller then the range of the previous 3 bars. Notice your bar is not engulfed by the previous bar.

So for an inside bar the high-low must not be outside the previous bars high to low.

If you need some examples let us know

Mike
  • #90,843
  • Mar 5, 2011 9:22am Mar 5, 2011 9:22am
cnu on weekly.
technically not a pinbar because open is not inside the previous.
seems to be good for a retrace to the 5 usd.
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meine augen sind die sterne
  • #90,844
  • Mar 5, 2011 10:08am Mar 5, 2011 10:08am
elnk on daily and weekly.
interesting situation. price respected the support at 7.85 usd. demand coming in on the daily. bar is closing away from the low. a nice opportunity to go long with stop below 7.85 usd.
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meine augen sind die sterne
  • #90,845
  • Mar 5, 2011 10:51am Mar 5, 2011 10:51am
weekly chart of exel.
strong uptrend, but resistance above looks strong. could run back to 9.20 usd which falls together with the 38.2% fib of the upmove.
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meine augen sind die sterne
  • #90,846
  • Mar 5, 2011 11:01am Mar 5, 2011 11:01am
Quoting Dan Gilbert
My opinion of this, is that it is an OK bar, I see you have highlighted previous lows as trouble areas, In my experience (however small it may be), is that the previous highs are more of a concern than anything. Granted my FTA is around 114.20, and that still gives price at least a little bit of room to move after a break of the low.

Price closing above 115.00 today is a concern as well.
Thanks Dan,
I'll keep it in mind.

ant-
  • #90,847
  • Mar 5, 2011 12:03pm Mar 5, 2011 12:03pm
Quoting menomoo
Swing low at a nice PPZ on daily, nice looking proxy pin bar on 4 hourly .

Targeting consolidation box highs. I know it is not A1 but fibo ret 50 is there too.

Right or wrong ?
I wouldn't say right or wrong . .I would say so-so, maybe it will . .maybe it won't . . .or there are much better ones with a higher probability of working out with many more pips. I like the body of the PB closer to the PPZ level with the close above , of course.
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Indicators show the past. Price Action "Indicates" the future.
  • #90,848
  • Mar 5, 2011 12:13pm Mar 5, 2011 12:13pm
Quoting mbqb11
Hey C

An I4b, is still an inside bar just smaller then the range of the previous 3 bars. Notice your bar is not engulfed by the previous bar.

So for an inside bar the high-low must not be outside the previous bars high to low.

If you need some examples let us know

Mike
Thank you. I think I got it.
  • #90,849
  • Mar 5, 2011 12:36pm Mar 5, 2011 12:36pm
Quoting jarroo
I wouldn't say right or wrong . .I would say so-so, maybe it will . .maybe it won't . . .or there are much better ones with a higher probability of working out with many more pips. I like the body of the PB closer to the PPZ level with the close above , of course.
Understood ! So , even better having these on solid ppz levels but closing above ppz.

In this case though looking at the smaller time frame you cam see smaller flip zones and ppz and I had a demo trade for quick 22 pips.

And this is the way I saw it , just to practice ( i know not advisable for the newbies) Confirmed the rjection of price on 4 hourly . Then waited for retrace on 15 min and at the swing low I had a 15 min outside bar targeting the ppz zone .

Question is the thinking process right or not ?

And the USD JPY finished with a daily pin I would apply the same process here watch on the hourly retrace and pa or break of pin to target the lows of last week . Againg is the thinking process on target or not ?

Thanks

V
  • #90,850
  • Edited 1:10pm Mar 5, 2011 12:50pm | Edited 1:10pm
Quoting premierpip
as the name implies, i'll give it a guess that it means price breaking thourgh a certain RN, PPZ or S/R. and eventually closed below or above the zone. if it managed to close above, means it's strong enough to move even higher and vice versa. am i right?
Quoting cprao
You are right. If the price closed above/below certain PPZ/SR/BRN bias in the direction of the close. or they are the best places to look for PA setups..
If you just refer last 10 to 15 pages, you will see many Jarroo's examples.
You guys are kind of close.

PBT&CA or B is a way of qualifying or confirming a PPZ level as acting Support or Resistance. We know that a strong Resistance level will (usually) turn into a strong Support level once Price breaks through it. Having a Close above (or below) it, is a way of confirming it.

Once we know PBT&CAorB a strong S/R level we look for PA at that given level.

For example, if PBT&CA at Resistance level we now look for that level to act as Support . .How do we know if its acting as Support? Strong Bullish PA at that level would confirm it, is one way. It can be on the same time frame or you can look at a lower time frame. The bolder or stronger the PA on the lower TFs at that level, the better.
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Indicators show the past. Price Action "Indicates" the future.
  • #90,851
  • Mar 5, 2011 12:55pm Mar 5, 2011 12:55pm
Quoting menomoo
Understood ! So , even better having these on solid ppz levels but closing above ppz.

In this case though looking at the smaller time frame you cam see smaller flip zones and ppz and I had a demo trade for quick 22 pips.

And this is the way I saw it , just to practice ( i know not advisable for the newbies) Confirmed the rjection of price on 4 hourly . Then waited for retrace on 15 min and at the swing low I had a 15 min outside bar targeting the ppz zone .

Question is the thinking process right or not ?

And the USD JPY finished with a daily...

I would stay on the Daily and Weekly TFs. If your going to venture down to the 4 Hour, I would still keep the Daily and Weekly PPZ levels for my 4 Hour PA.
Indicators show the past. Price Action "Indicates" the future.
  • #90,852
  • Mar 5, 2011 1:06pm Mar 5, 2011 1:06pm
Quoting premierpip
finally i step foot back onto this thread. left this thread a few months back because i was busy with school. i;m having my holidays now and is back on forex. stopped the PF after 4 months not because it wasn't good. but because i was financially tight. i miss the PF.

anyone mind updating me? have anything changed recently? are we still trading PB, IB, BUOB, BEOB.
using PP, and fib retracements, RN for PA?

or am i outdated?
I'm about to introduce some more terminology . .but it will probably be more so in the PF. . .don't know yet.

Here's an example . .Lowest Close of Support and Highest Close of Resistance.

The Eur/Jpy is in an interesting area or Zone of its PPZ level on the Monthly.
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Indicators show the past. Price Action "Indicates" the future.
  • #90,853
  • Mar 5, 2011 1:40pm Mar 5, 2011 1:40pm
I'm not going to trade this, but I'll certainly watch this with fascination.

If that pin was bigger and closed above the previous bar though.....

http://3.bp.blogspot.com/-M5EF0wo1fH...aily%2Bppz.png
  • #90,854
  • Mar 5, 2011 2:43pm Mar 5, 2011 2:43pm
Quoting mbqb11
Hey C

An I4b, is still an inside bar just smaller then the range of the previous 3 bars. Notice your bar is not engulfed by the previous bar.

So for an inside bar the high-low must not be outside the previous bars high to low.

If you need some examples let us know

Mike

Hi Mike
I have been following through the thread and I understand what a I4b set up looks like but am unsure onhow they are traded, how are the trades entered?
Thanks
  • #90,855
  • Mar 5, 2011 2:52pm Mar 5, 2011 2:52pm
Quoting jarroo
You guys are kind of close.

PBT&CA or B is a way of qualifying or confirming a PPZ level as acting Support or Resistance. We know that a strong Resistance level will (usually) turn into a strong Support level once Price breaks through it. Having a Close above (or below) it, is a way of confirming it.

Once we know PBT&CAorB a strong S/R level we look for PA at that given level.

For example, if PBT&CA at Resistance level we now look for that level to act as Support . .How do we know if its acting as Support? Strong Bullish PA at that...
first, i would like to ask, what's PBT&CA or B?

i see what you mean.. we are using this to confirm that a certain PPZ/SR/RN is a strong area. can i put in that we are seeing how price test the zones. if we are able to close in the zone, and price bounce back, we wait and see if the level is tested again, and if it does test it again, we wait and see if it test it for a third time, by now we will most probably have a consolidation. once price breaks through the resistance, we are almost certain our support is strong enough to keep price above it.
  • #90,856
  • Mar 5, 2011 2:54pm Mar 5, 2011 2:54pm
Quoting jarroo
I'm about to introduce some more terminology . .but it will probably be more so in the PF. . .don't know yet.

Here's an example . .Lowest Close of Support and Highest Close of Resistance.

The Eur/Jpy is in an interesting area or Zone of its PPZ level on the Monthly.
alright. i think im missing a lot now.. guess i will start saving. i need to be back in the PF, with lesser noise and more examples. thanks by the way.
  • #90,857
  • Edited 6:54pm Mar 5, 2011 5:35pm | Edited 6:54pm
Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back

Jarroo's New Terminology
--------------------------------------------------
PBT&CA= price breaks through & closes above
PBT&CB= price breaks through & closes below
RT= retest
LCOS= lowest close of support
HCOR=highest close of resistance
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  • #90,858
  • Mar 5, 2011 7:20pm Mar 5, 2011 7:20pm
so i know most people in here are looking at the daily pb on the jpy crosses,
but is there anything wrong with just sticking to the weekly charts and trying to take a bo of the buob?

I guess im wondering, what are the cons of this setup? it seems like there is plenty of upside to work with for fta...

http://content.screencast.com/users/...1-21.17.25.png
  • #90,859
  • Mar 5, 2011 8:12pm Mar 5, 2011 8:12pm
Quoting mugged
so i know most people in here are looking at the daily pb on the jpy crosses,
but is there anything wrong with just sticking to the weekly charts and trying to take a bo of the buob?

I guess im wondering, what are the cons of this setup? it seems like there is plenty of upside to work with for fta...

http://content.screencast.com/users/...1-21.17.25.png
Hi Mugged, to me this would be a weak setup.
Much weaker than the daily ones. Because:

1) Weak close
2) Swing High
3) Space below was not tested (the more space below is tested the better)
4) Close above BRN but NOT authoritative
5) The Res you have was not overcome, (115.62)

Just my 2 cents for the cons of this setup as you asked
  • #90,860
  • Mar 5, 2011 8:14pm Mar 5, 2011 8:14pm
from my understanding James preaches sticking to the higher time frames as they are more accurate, the weekly might be a better trade, the con is a larger SL if you are placing stop below the bar or you can get a 'tighter' stop behind 63 fib

Quoting mugged
so i know most people in here are looking at the daily pb on the jpy crosses,
but is there anything wrong with just sticking to the weekly charts and trying to take a bo of the buob?

I guess im wondering, what are the cons of this setup? it seems like there is plenty of upside to work with for fta...
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