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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

  • #92,881
  • Apr 4, 2011 4:02am Apr 4, 2011 4:02am
Quoting jarroo
Notice the HCRs at these Swing Highs (Yellow) and how current Price respected them . .pretty cool. . .its helps that their Highs and Closes are at the same swing high level . . lol (Daily chart) Look for Price to respect these levels if it gets there.
Thanks for making time to still be here, Jim
What would we do without you
Now lets see if i understand you correctly ...
May i ask what do you mean by the red text above? Do you expect those level to once again act as resistance once PBTCB?
Thanks Jim - I really don't know how you manage your time between day job, PF and here -really appreciate it, bud
  • #92,882
  • Apr 4, 2011 4:28am Apr 4, 2011 4:28am
I see you are online ghous,what are your thoughts on the EUR/USD closing bar last week.Was it a valid IPB and if so how would you play it.Thanks in advance.
  • #92,883
  • Apr 4, 2011 4:49am Apr 4, 2011 4:49am
Quoting edge540
I see you are online ghous,what are your thoughts on the EUR/USD closing bar last week.Was it a valid IPB and if so how would you play it.Thanks in advance.
Great place to look for PA Edge
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  • #92,884
  • Apr 4, 2011 6:59am Apr 4, 2011 6:59am
Im short on GBP/USD anybody else hopping on?

I think it doesn't look marvelous... but I'm taking a shot.
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How bad do you want it? That's the attitude!
  • #92,885
  • Apr 4, 2011 7:06am Apr 4, 2011 7:06am
Still doesn't know what to do with itself.
Can't get under 1.0000 despite 4 bearish candles in a row.
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  • #92,886
  • Apr 4, 2011 7:42am Apr 4, 2011 7:42am
I am watching gbpchf on daily. We are testing an intresting zone at the moment.
I am considering a short trade if we have appropriate setup in lower frames (4H). I think we have a 100 pips room for downside movement to the little green zone.
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  • #92,887
  • Apr 4, 2011 7:47am Apr 4, 2011 7:47am
Quoting crusen
Fellow traders, would love to see where you would put the first, second and third trouble areas if you were to take this outside bar short.

http://3.bp.blogspot.com/-LyDyAERxY3...s%2B4-3-11.png
This is going down into a shed load of consolidation traffic. The question is where wouldn't you put the trouble area?
  • #92,888
  • Apr 4, 2011 8:06am Apr 4, 2011 8:06am
Quoting six gun
This is going down into a shed load of consolidation traffic. The question is where wouldn't you put the trouble area?
Dont be so quick to dismiss this setup. It looks interesting imo.
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  • #92,889
  • Apr 4, 2011 8:11am Apr 4, 2011 8:11am
yess I see I see said the blind man .. Jim Thanks for the Charts...

Indeed on the weekly swing low DBHC would have worked too with all the other confluences

Best

V
  • #92,890
  • Apr 4, 2011 8:19am Apr 4, 2011 8:19am
Quoting Greenhaze
Dont be so quick to dismiss this setup. It looks interesting imo.
just mho: i (!) would never take it.
1. daily candles of a friday should always be taken with caution. many big players are already out for the weekend.
2. stocks are in an overall uptrend. ym an es are at a crucial point. not a good area for bearish setups.
3. the stock itself is in a main uptrend.
4. although it looks like a flag, a short would directly get into traffic to the left.
i have no idea if a short would work, but i would not put my money on it.
meine augen sind die sterne
  • #92,891
  • Apr 4, 2011 8:26am Apr 4, 2011 8:26am
Quoting aserbfx
just mho: i (!) would never take it.
1. daily candles of a friday should always be taken with caution. many big players are already out for the weekend.
2. stocks are in an overall uptrend. ym an es are at a crucial point. not a good area for bearish setups.
3. the stock itself is in a main uptrend.
4. although it looks like a flag, a short would directly get into traffic to the left.
i have no idea if a short would work, but i would not put my money on it.
Fair enough... There is some traffic to the left (and that is normal in case of flag pattern) but if price manage to break the lower trendline with good momentum then we might get another strong leg to the downside. The stops above the resistance were tipped and i would risk the play of eventual hard break.
  • #92,892
  • Apr 4, 2011 9:06am Apr 4, 2011 9:06am
Quoting Greenhaze
Dont be so quick to dismiss this setup. It looks interesting imo.
I happens to have this on my platform so it is tradeable to me. Just looks like has to negotiate a number of bars.
But I see you have wedged the consolidation. Visually if it breaks the lower line it has broke out.
Time will show us in the end
  • #92,893
  • Apr 4, 2011 9:35am Apr 4, 2011 9:35am
Quoting soavesoave
Im short on GBP/USD anybody else hopping on?

I think it doesn't look marvelous... but I'm taking a shot.
Hey Soavesoave

Have to be careful here, notice the LARGE buob it is trading back into and the BUOB is trading off and away from the BRN. This makes me think upside with the larger buob rather then short with the smaller pinbar

Best
Mike
  • #92,894
  • Apr 4, 2011 9:50am Apr 4, 2011 9:50am
Have entered this pair with a long.
All the pinbars and the massive confluence under the pinbar which broke earlier today just dragged me in.

I am in a bit of profit.
It is negotiating its way through the preceding bar highs and then 1.38 is the sticky zone.
  • #92,895
  • Apr 4, 2011 10:14am Apr 4, 2011 10:14am
Afternoon guys.

What a truly educational thread this is ! Fantastic.

I am still in demo mode and someone suggested to me to check out this and the James16 site.

I'm starting again here after very up and down previous results using various systems/methods and after reading a chunk of the the first posts I reckon its time to get back to basics and leave the 5m/ 15m/1hr/4hr with multi indicators/3mas crossing systems etc and start learning the PA, PPZ lessons.

While reading some of the suggested 'must read' threads I am a little confused about a couple of points. Any replies would be greatly appreciated fellas.

1. When plotting my fibs, do I plot current high to latest swing low, 2nd swing low, 3rd swing low in an uptrend and current low to latest swing high, 2nd swing high, 3rd swing high in an downtrend or do I plot the fibs using daily/weekly/monthly highs ? (Any recent chart examples of these would be great if at all possible).
2. I am thinking that the trendlines are daily/weekly/monthly and both higher/lowe T/L's should be plotted to show channels widening/narrowing etc - is this correct guys?
3.Do we just use daily/weekly/monthly pivot points or also plot daily/weekly/monthly S/R levels as well ? (I have put all these on the charts but to be honest there are so many lines that you can barely see the price candles lol and also there then appears to be confluence at just about every level so I am, guessing that this is overkill and I have too many lines plotted !)
Lastly as this is such a substantial thread with so much good info are the original early posts still the best way to proceed or have the methods changed/evolved over the six years its been running so that I need to start a little later in. (Just dont want to get into something at the very beginning to find it has changed later on in the thread)
Oh and I guess that maybe the best way is to try get to grips with this thread before trying the James16 site or should I be looking at both at the same time.
Sorry this has run on a bit but I am very keen to start this right this time and any advice will be very welcome.
Many thanks
Malarky
  • #92,896
  • Apr 4, 2011 10:20am Apr 4, 2011 10:20am
Quoting six gun
Have entered this pair with a long.
All the pinbars and the massive confluence under the pinbar which broke earlier today just dragged me in.

I am in a bit of profit.
It is negotiating its way through the preceding bar highs and then 1.38 is the sticky zone.
I'm in as well on that dlhc closing above rn. Took some profit at 1.3775 and moved to be.

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  • #92,897
  • Apr 4, 2011 10:44am Apr 4, 2011 10:44am
Quoting Malarky
Afternoon guys.

What a truly educational thread this is ! Fantastic.

I am still in demo mode and someone suggested to me to check out this and the James16 site.

I'm starting again here after very up and down previous results using various systems/methods and after reading a chunk of the the first posts I reckon its time to get back to basics and leave the 5m/ 15m/1hr/4hr with multi indicators/3mas crossing systems etc and start learning the PA, PPZ lessons.

While reading some of the suggested 'must read' threads I am a little confused...
Not answered all your Q's but the pivots you are talking about are likely price pivot zones and these are support resistance areas.
  • #92,898
  • Apr 4, 2011 10:49am Apr 4, 2011 10:49am
Quote
Afternoon guys.

What a truly educational thread this is ! Fantastic.

I am still in demo mode and someone suggested to me to check out this and the James16 site.

I'm starting again here after very up and down previous results using various systems/methods and after reading a chunk of the the first posts I reckon its time to get back to basics and leave the 5m/ 15m/1hr/4hr with multi indicators/3mas crossing systems etc and start learning the PA, PPZ lessons.

Welcome Malarky glad you are enjoying the information thus far I will do my best to answer your questions below
Quote
1. When plotting my fibs, do I plot current high to latest swing low, 2nd swing low, 3rd swing low in an uptrend and current low to latest swing high, 2nd swing high, 3rd swing high in an downtrend or do I plot the fibs using daily/weekly/monthly highs ? (Any recent chart examples of these would be great if at all possible).

see chart for example of fibs. Fibs are just showing a % retracement of a move. You can use them in the most common way which is from major swing points.
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Quote
2. I am thinking that the trendlines are daily/weekly/monthly and both higher/lowe T/L's should be plotted to show channels widening/narrowing etc - is this correct guys?

I would not draw them all over the place or you might start to confuse yourself. One thing to do is keep timeframes separate. If you are analyzing a weekly chart draw and do everything on the weekly. Keep it simple

Quote
3.Do we just use daily/weekly/monthly pivot points or also plot daily/weekly/monthly S/R levels as well ? (I have put all these on the charts but to be honest there are so many lines that you can barely see the price candles lol and also there then appears to be confluence at just about every level so I am, guessing that this is overkill and I have too many lines plotted !)
There are two things here. Pivot points are mathematically caluculated based on OHLC information. These are not as common here, or in forex b/c of the lack of a centralized open and closing. Yes some people do use them use them. A more effective tool in my view and a very very crucial thing to learn is called PPZ(or price pivot zones). These are not mathematically calculated. Check out this resource
http://www.forexfactory.com/showpost...ostcount=14084

Quote
Lastly as this is such a substantial thread with so much good info are the original early posts still the best way to proceed or have the methods changed/evolved over the six years its been running so that I need to start a little later in. (Just dont want to get into something at the very beginning to find it has changed later on in the thread)
Oh and I guess that maybe the best way is to try get to grips with this thread before trying the James16 site or should I be looking at both at the same time.
Sorry this has run on a bit but I am very keen...
The material is the same, it has just grown in topics and what has been shared. Since this is a method you will learn tools and learn how to use those tools effectively and put them together in a working way for you. I suggest hanging out here for 2-3 months read/absorb/ask questions, you will no doubt enjoy it

Hope this helps
Mike
  • #92,899
  • Apr 4, 2011 11:01am Apr 4, 2011 11:01am
Quoting jarroo
Holy Smokes . . .11,000. . . .
Congratz there should be a reward or some thing for a contribution like that lol
  • #92,900
  • Apr 4, 2011 11:06am Apr 4, 2011 11:06am
Quoting zoli
Thank you Mike. You are Ace.

Just for widening the interrest, here is Ford forall of you. I like it. Actually I like the company as the chart is not anything like perfect. Looks interresting though.

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merci vielmals!

ford built a round bottom. up +3.6 % today. up about +8% since my entry.
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meine augen sind die sterne
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