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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

  • #92,741
  • Apr 1, 2011 3:22am Apr 1, 2011 3:22am
Morning all.

The NFP has been postponed until next week sometime






Disclaimer: Check today's date
  • #92,742
  • Edited 4:24am Apr 1, 2011 4:23am | Edited 4:24am
thick red lines - HS(inverted).

thin downtrend trendline broken and is now being retested which confluences with left shoulder app.

HS made new swing high yeterday. around current level we need a higher low and that pin is ready to go.


Just an opinion, as always.

Quoting jarroo
Trading into that 1.37 would be my only concern. That's a strong Weekly/Daily PPZ level which your line chart shows so clearly.

The Hourly PA also had Support from a few previous Daily Highest Close of Resisitance, mainly the 1.3650. Price was making a bee line to the 1.3600 but fell short. . .again your line chart shows this clearly.

Good example of Space on that Daily PB . . .no surprise why it stopped where it did . .it just ran out of Space . .what little it had . . .Thanks Mike.


Great charts GH ..


Jim
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  • #92,743
  • Edited 4:42am Apr 1, 2011 4:25am | Edited 4:42am
hey jarroo

Hope you are well. Got an email from jim last night. Want to say congrats and also I am really looking forward to reading your section on the PF.



Azam
  • #92,744
  • Apr 1, 2011 4:37am Apr 1, 2011 4:37am
gbpusd
Daily - nice PB yesterday, already broken today, price rejected by 21 and 50 EMA, attack and close below 38% Fibo (not in the pic)

it is going to close a 4H - BEOB, and already broke zone of support (green one)
enough room to the previous bottoms at 1.5935-40
we may have trouble at 1.5980
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  • #92,745
  • Apr 1, 2011 5:18am Apr 1, 2011 5:18am
Quoting Greenhaze
You have to take into account the 18 mar boj/ecb intervention which this time succeded and i can only believe that boj want to see price above the 80 level. Nothing happens without a reason. EJ and UJ are showing actual market sentiment with strong risk appetite where the interest rates direction is getting really clear. If BOJ will continue intervene in the market with help of ECB we will see continuation of this move. Read about Boj/Fed intervention after the 1995 earthquake which happened at the yearly bottom.
Looking at the chart and thinking more.....
The big price move relates to the tsunami date - well on my chart it is the 10th and the tsunami was 11th but it might be just a product of different time zones.

The pair is EU/JYP. If the floor falls out of the yen then price should rocket up.
The Euro is worth more yen.
But price shoots down.
This means the yen is worth more.
This does not make sense to me at all. I would have thought the fact Japan could be a pile of rubble underwater would send the yen into a tail spin and EU/JPY would rocket up.

I am missing something here.

What am I missing?
  • #92,746
  • Apr 1, 2011 5:23am Apr 1, 2011 5:23am
A triangle for anybody?
A break under 1,000 , with a BEOB would be nice.
Mónika
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  • #92,747
  • Apr 1, 2011 5:43am Apr 1, 2011 5:43am
Quoting jarroo
Hey six gun.

I look at them occasionally. They can be a nice little consolidation setup when they form right. I tend to go for more of build of consolidation which appears more so on the higher time frames. The stronger the build, the strong the level.

Here's a nice one on the Weekly Eur/Gbp, which could be form fitted on the Hourly.
Cheers Jim - maybe we will see more of this discussed.
  • #92,748
  • Apr 1, 2011 6:06am Apr 1, 2011 6:06am
Quoting six gun
Looking at the chart and thinking more.....
The big price move relates to the tsunami date - well on my chart it is the 10th and the tsunami was 11th but it might be just a product of different time zones.

The pair is EU/JYP. If the floor falls out of the yen then price should rocket up.
The Euro is worth more yen.
But price shoots down.
This means the yen is worth more.
This does not make sense to me at all. I would have thought the fact Japan could be a pile of rubble underwater would send the yen into a tail spin and EU/JPY would rocket...
Yen & Chf are perceived as a safe heaven curriencies in times of global turbulence. This is one of the reasons why yen was rallying. Another one was insurance companys that were exchanging their money back to yen currency. In case of the 16th mar event that was called as a fast crash when UJ broke thru 80 level in times of low liquidity (end of us session) triggering the stop loss cascades just below it. There were some pretty big rumors about Bank of china having 80/85 (read about DNT options) option on UJ so when 80 busted they must have had some really big defense stops below that level aswell.
If i remember corectlly ,next day G7 agreed to help Boj to intervene , selling around 600 billions yen. Fortunes were made and lost in only 2 days. After 1995 earthquake Boj together with Fed made couple of yen interventions pushing the market significantly higher. This can sound as a pile of BS for some of guys here but this is how i see it anyway and i have a habit of digesting every information available.
  • #92,749
  • Edited 6:50am Apr 1, 2011 6:09am | Edited 6:50am
I've been getting lots of warm pms about what I've learned lately. Thank you all so much. I'm deeply touched.

What I have learned is a very easy way to spot exactly where price is going, and through the beauty of the J16 method, how to trade it when it gets there.
I say this with all humility, but every single chart proves it on every single TF!

I drew this chart as a further explanation of what I mean.(Made sure it was a weekly this time though)

I did it in an hurry, as I must pick up prince Max from school in 5 minutes.

Back soon

If

Don't be confused. This IS the J16 principle, just explained in a way that I can understand
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  • #92,750
  • Apr 1, 2011 6:39am Apr 1, 2011 6:39am
A critical support is being tested on USD/CAD.
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  • #92,751
  • Apr 1, 2011 7:02am Apr 1, 2011 7:02am
Quoting Ifmyante
I've been getting lots of warm pms about what I've learned lately. Thank you all so much. I'm deeply touched.

What I have learned is a very easy way to spot exactly where price is going, and through the beauty of the J16 method, how to trade it when it gets there.
I say this with all humility, but every single chart proves it on every single TF!

I drew this chart as a further explanation of what I mean.(Made sure it was a weekly this time though)

I did it in an hurry, as I must pick up prince Max from school in 5 minutes.

Back soon

If...
First, let me say that your hard work and contributions to this thread I have truely enjoyed. Further, it's just fantastic to see how PA is coming together for you and making sense.

I respectfully and humbly ask these questions, although you may have addressed them previously and I just did not get the message(s) from your posts.

I fully understand that people have their own PERCEPTIONS, LEARNING STYLES, and LEARNING AQUISITION RATES.

Respectfully, I ask .....the terminologies you are using, such as imbalance, is it just another word for support/resistance areas? Or where others have called areas of order flow differences, i.e. supply/demand or areas where price breaks through S/R retests and moves above or below?

Has this not been deeply imbedded in James and the seniors teachings?

Is it just the words that you have introduced that helped you along your development to understand the markets? Truely, I don't understand.

What may be missing ?

Sincerely,

Bill
  • #92,752
  • Apr 1, 2011 7:04am Apr 1, 2011 7:04am
Quoting s005606
Hi Spookie,

I thought I was the only one taking this trade, as I didn't see much discussion about it here.

What I liked about this trade were:
1) the PB was at a clear swing high
2) there "seemed" to be more space to the left as it's at a swing high
3) it showed clear rejection from 0.9550 which I marked as a daily PPZ, and also 0.9500 which is a BRN


What worried me the most were:
1) its small size relative to the upmove
=> but then I talked myself in, none of the green bars in this upmove was as big as the prior red bars down,...
Well according to what happened overnight I'd say you played this loss as well as anyone could. I made the mistake of thinking that BRN would hold. From my experience, when you see price hovering around a PPZ, your odds greatly increase that that area is about to break (or mybe a nice fake out).
I reduced my risk a little, but should have used that BRN more to my advantage.
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  • #92,753
  • Apr 1, 2011 7:16am Apr 1, 2011 7:16am
Quoting Atc
First, let me say that your hard work and contributions to this thread I have truely enjoyed. Further, it's just fantastic to see how PA is coming together for you and making sense.

I respectfully and humbly ask these questions, although you may have addressed them previously and I just did not get the message(s) from your posts.

I fully understand that people have their own PERCEPTIONS, LEARNING STYLES, and LEARNING AQUISITION RATES.

Respectfully, I ask .....the terminologies you are using, such as imbalance, is it just another word...
I would like to ask some questions as well.

I can see the boxes and where there is bullish and bearish candles.
So there is movement one way and then the other - a state of imbalance I guess.
The market is always imbalanced or else it would be a straight horizontal line across the page.

Ok so we have a bearish and then bullish candle(s) and it has created a box which is extended sideways.
How does this predict where price is going?
It must be able to reliably predict where price is going and I am unclear how this does this.
  • #92,754
  • Apr 1, 2011 7:22am Apr 1, 2011 7:22am
Another wedge breakout, a little aggressive but my risk was like 3 pips + spread, so I thought it was okay. Entered on the 15 min timeframe on that pullback back towards the wedge.

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pat
  • #92,755
  • Apr 1, 2011 7:23am Apr 1, 2011 7:23am
Quoting Ifmyante
I've been getting lots of warm pms about what I've learned lately. Thank you all so much. I'm deeply touched.

What I have learned is a very easy way to spot exactly where price is going, and through the beauty of the J16 method, how to trade it when it gets there.
I say this with all humility, but every single chart proves it on every single TF!

I drew this chart as a further explanation of what I mean.(Made sure it was a weekly this time though)

I did it in an hurry, as I must pick up prince Max from school in 5 minutes.

Back soon

If

Don't...
Really? Most of your screen is highlighted!

For those interested check out fxstreet or onlinetradingacademy and fill yer boots

Ifm - maybe a different thread is in order for this material
  • #92,756
  • Apr 1, 2011 7:25am Apr 1, 2011 7:25am
Quoting spookie94
Well according to what happened overnight I'd say you played this loss as well as anyone could. I made the mistake of thinking that BRN would hold. From my experience, when you see price hovering around a PPZ, your odds greatly increase that that area is about to break (or mybe a nice fake out).
I reduced my risk a little, but should have used that BRN more to my advantage.
The "mistake" if there is one is to assume price will retrace all the way down the hill it has just climbed and you will pick up a 100 squillion pips.
Well that is always what I like to think but then I see a small profit disappear and price comes back to bite me where it hurts.

Price got to the first target - after the bearish pin bar it got to the bottom of the preceding bullish bar/the top of the plateau (bar tops) to the left.

It made its first target. At that point if some profit were taken and stops to BE you would be out of the trade with some beer money if nothing else. If it turned into a runner you could get your 100 squillion pips.
  • #92,757
  • Apr 1, 2011 7:27am Apr 1, 2011 7:27am
Was looking at this one as well, but missed my entry by 2 pips.

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pat
  • #92,758
  • Edited 7:59am Apr 1, 2011 7:41am | Edited 7:59am
Quoting Atc

Is it just the words that you have introduced that helped you along your development to understand the markets? Truely, I don't understand.

What may be missing ?
Thanks Bill for the kind words.

I don't believe you've missed anything.

I absolutely have not said anything new here. It's all been taught to us by our great seniors for years.


Not having read the whole thread though (I got to page 52 and skipped to only a few pages back), I never really understood the WHY of it all, which, I'm sure, will have been explained many times through the thread.

I did what I was advised and became quite successful with the J16 method.
I'd draw my PPZs and watch price jump around between them, amazed at how well they worked, but never really knowing why they became PPZs in the first place!

My problem is I have never been able to be taught anything, and have always needed to learn everything from scratch, in a language that I created myself and can understand. Yes, I'm mentally imbalanced, I know, but don't wish I wasn't.

I know I'm just reiterating the last 9k+ posts with what I'm doing, but when I had my Eureka moment, I just felt the need to share it with my family here at J16. Believe me, I've been bashing my missus' ear with it too!

I'm just overjoyed at finally having made sense of the market in a way that's natural to me.

I hope there are others here like me who'll see what I've learned and understand it in the way that I've come to.

My life changed forever over the last couple of days, and from some of the pm's I got, others' did too

I hope you can understand just how happy I have become.

The J16 thread rocks, and now I know why

With love and respect

If


Edit: Looking back, I didn't need to write all this. I should have simply said - 'I needed to see the people in the market'.
  • #92,759
  • Apr 1, 2011 7:51am Apr 1, 2011 7:51am
Quoting Ifmyante
Thanks Bill for the kind words.

I don't believe you've missed anything.

I absolutely have not said anything new here. It's all been taught to us by our great seniors for years.


Not having read the whole thread though (I got to page 52 and skipped to only a few pages back), I never really understood the WHY of it all, which, I'm sure, will have been explained many times through the thread.

I did what I was advised and became quite successful with the J16 method.
I'd draw my PPZs and watch price jump around between them, amazed at...
I will stick to the way it is described by James himself. I have the benefit of a lot of the material on the private forum.

I look at the price pivot zones - the areas where price turns and reacts. The bars formed at these points indicate what may happen next and you can also look ahead to the next ppz or bar highs/lows to tell you where the next area of difficulty is.

These ppz's are kind of your areas of imbalance but as I say I will stick to my "balance" approach.
  • #92,760
  • Apr 1, 2011 7:51am Apr 1, 2011 7:51am
Quoting Dan-FX
Really? Most of your screen is highlighted!



Ifm - maybe a different thread is in order for this material
Most of your screen is highlighted!
That's exactly what I'm saying- the future is highlighted in the past!

Ifm - maybe a different thread is in order for this material
I believe this is J16 material, but I'll gladly take advice from the seniors



If
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