Morning all.
The NFP has been postponed until next week sometime
Disclaimer: Check today's date
The NFP has been postponed until next week sometime
Disclaimer: Check today's date
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedTrading 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 ..
JimIgnored
DislikedYou 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.Ignored
DislikedHey 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.Ignored
DislikedLooking 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...Ignored
DislikedI'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...Ignored
DislikedHi 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,...Ignored
DislikedFirst, 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...Ignored
DislikedI'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...Ignored
DislikedWell 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.Ignored
Disliked
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 ?Ignored
DislikedThanks 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...Ignored
DislikedReally? Most of your screen is highlighted!
Ifm - maybe a different thread is in order for this materialIgnored