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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

  • #93,241
  • Apr 8, 2011 4:44am Apr 8, 2011 4:44am
Can you help me guys?
It will close in 15 minute...I hope with bearish candel (other way it will be pass)
So is the FTA is correct?
Any other comment on it, thanks!
Mónika
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  • #93,242
  • Apr 8, 2011 4:57am Apr 8, 2011 4:57am
Quoting Panthera
Can you help me guys?
It will close in 15 minute...I hope with bearish candle (other way it will be pass)
So is the FTA is correct?
hello Mónika
i think FTA is a bit closer. around 1.6350 area
be careful with the uptrend. stay alert if ever u are gonna trade this.
  • #93,243
  • Apr 8, 2011 5:02am Apr 8, 2011 5:02am
Like this?
Iam not gonna trade it, just waching bc I like the pinbar!
Thanks, you made it clear...
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  • #93,244
  • Apr 8, 2011 5:23am Apr 8, 2011 5:23am
Quoting Pinbar
I would watch out for the VBRN and all those bar highs to the left of price with the 365 EMA lining up with the 1.5000 VBRN
I think as long as you are aware of the VBRN you will be ok.

The VBRN will attract price. Likely it will repel it again but many traders will have it as a target. Then on reaching the BRN, liquidation stops will be triggered. I read a paper on this a member of the PF put up. A study of many millions of trades showed a very high proportion of stops/TP exist +/- 1 pip either side of BRN.
  • #93,245
  • Apr 8, 2011 5:38am Apr 8, 2011 5:38am
Quoting six gun
I think as long as you are aware of the VBRN you will be ok.

The VBRN will attract price. Likely it will repel it again but many traders will have it as a target. Then on reaching the BRN, liquidation stops will be triggered. I read a paper on this a member of the PF put up. A study of many millions of trades showed a very high proportion of stops/TP exist +/- 1 pip either side of BRN.

The VBRN, bar highs & the 365 EMA was the point of my post.
Obviously the poster was not aware of them.

We have all been there and done that, I have anyway.
  • #93,246
  • Apr 8, 2011 5:42am Apr 8, 2011 5:42am
Quoting Pinbar
The VBRN, bar highs & the 365 EMA was the point of my post.
Obviously the poster was not aware of them.

We have all been there and done that, I have anyway.
Yeah I realised this was the VERY important point you were making.

Don't trade into a VBRN etc - but if you do you are probably all right if you put your liquidation stop with all the rest. You can grab a few pips and be off.

I have done it, probably everyone else has traded into a brick wall and then wondered why you got ploughed under when price come back at you.

Scroll out and look at the whole picture.
  • #93,247
  • Edited 6:26am Apr 8, 2011 6:13am | Edited 6:26am
Quoting Panthera
Like this?
Iam not gonna trade it, just waching bc I like the pinbar!
Thanks, you made it clear...
yes, like so.
the pinbar is fair sized... or relatively small if u really want a confident reversal bar.

if 1.6350 gives way, then your 1.6325 area , 1.63, 1.6250, 1.6180 - 1.62....
might be a slow move down, if ever, because of the (IMHO) current uptrend
  • #93,248
  • Apr 8, 2011 6:22am Apr 8, 2011 6:22am
This is a breakout ive been waiting all week... BUOB with the trend.

I didnt trade it cause...

 

  1. The breakout bar didnt convinced me.. wanted a higher close above the trendline.
  2. Its Friday (dont like to trade on Fridays)
  3. Had the 0.88 strong ppz above.


Comments are appreciated.
Os.

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Trade Smart
  • #93,249
  • Apr 8, 2011 6:37am Apr 8, 2011 6:37am
Quoting Osman
This is a breakout ive been waiting all week... BUOB with the trend.

I didnt trade it cause...

 

  1. The breakout bar didnt convinced me.. wanted a higher close above the trendline.
  2. Its Friday (dont like to trade on Fridays)
  3. Had the 0.88 strong ppz above.


Comments are appreciated.
Os.

Was looking at that as well. Posted the exact same set up yesterday. I didn't either find a good entry. Same concerns as you stated above. Still watching though.

pat
  • #93,250
  • Apr 8, 2011 6:39am Apr 8, 2011 6:39am
Quoting Osman
This is a breakout ive been waiting all week... BUOB with the trend.

I didnt trade it cause...

 

  1. The breakout bar didnt convinced me.. wanted a higher close above the trendline.
  2. Its Friday (dont like to trade on Fridays)
  3. Had the 0.88 strong ppz above.


Comments are appreciated.
Os.

I was looking for a very similar setup, a strong PA move away from this TL, which we just haven't got. I'll be looking to see what happens around .8845 next week..

It's also encouraging knowing my chart is very similar to your own.

SG
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  • #93,251
  • Apr 8, 2011 6:42am Apr 8, 2011 6:42am
Quoting Be Cool
So 0.7275 is a weak PPZ because price was able to pierced through it with ease/momentum several times as shown by your yellow boxes?And even then you would have watched what price did when it gets there as the weekly candle develop-maybe on lower TF?
in a way, yes u can say that.

to be precise, i would've personally plotted (&/or taken note of) 0.72, 0.7275, 0.73 areas as PPZs.

think of the yellow boxes as just 'confluence' to this trade.
add it to this positives:
- PB at swing low (double PB side by side, in fact)
-tons of space
- 0.7200 RN

& yes, i trade lower TFs so i would've definitely watched it on H1-D1 if ever (im still trying to trade Daily & up.. slowly)

let me know if anything's still unclear.. as im terrible at expressing my thoughts


Quoting Osman
This is a breakout ive been waiting all week... BUOB with the trend.
I didnt trade it cause...

The breakout bar didnt convinced me.. wanted a higher close above the trendline.

  1. Its Friday (dont like to trade on Fridays)
  2. Had the 0.88 strong ppz above...

just wanna say that... just like PA setups sometimes/often dont break on the succeeding bar... the same goes with this breakout setups
the day being Friday, probably best explains why the breakout bar was not as big as u expected -- (probably) less orders, less people were trading that day...

as we can see, it worked out ok after all.

FWIW, i have been bullish eurgbp, & looking for +/-0.90 (or even parity, lol)

Quoting Sgrb1
I was looking for a very similar setup, a strong PA move away from this TL, which we just haven't got. I'll be looking to see what happens around .8845 next week..
...
just taking note of your nice charts SG
  • #93,252
  • Apr 8, 2011 7:25am Apr 8, 2011 7:25am
Quoting Pumlitch
Morning guys,
USDCHF broke a support. Waiting if a nice retest will follow. Something is forming already.
Jarda
Attachment
I took the short trade at 0.91445 and SL 30pips was hit then.
I did not take in consideration that EU, GU and AU are quite high so if they will fall slightly, UC will not go down probably. Made a note.
Friday afternoon = I am done.
Nice weekend to all.
jarda
Follow my trading on Twitter and FB: @pumlitch
  • #93,253
  • Apr 8, 2011 7:46am Apr 8, 2011 7:46am
Quoting supremeChaos
in a way, yes u can say that.

to be precise, i would've personally plotted (&/or taken note of) 0.72, 0.7275, 0.73 areas as PPZs.

think of the yellow boxes as just 'confluence' to this trade.
add it to this positives:
- PB at swing low (double PB side by side, in fact)
-tons of space
- 0.7200 RN

& yes, i trade lower TFs so i would've definitely watched it on H1-D1 if ever (im still trying to trade Daily & up.. slowly)
I'm fascinated You trade Lower TF and yet are able to see where price is going on a larger move/higher TF. How do you do this?

Do you plot higher TF PPZ first and see where price might be going (from one PPZ/S/R to the next) Then trade the lower PPZ and see minor PPZ/S/R as posing less trouble?

Please teach me more about how to gauge the strength of PPZs/traffic by observing recent price reaction to it?


Thanks Bud
  • #93,254
  • Apr 8, 2011 7:52am Apr 8, 2011 7:52am
Hi guys,
I am completely new here and just wanted to ask some advice if thats ok

First of all i'd like to say an open thanks to everyone particularly Jim and the seniors here.....I've been hanging around, reading, re-reading, re-reading again, reviewing charts posted and absorbing some of the methods and advice.

My story, have been trading on and off for around 2-3 years, regularly over the last year and have tried all the indicators et al thinking i was already rich till reality set in!! lol (how very niaive) . anyway a while later and I've realised that PA is really where its at for me. mostly thanks to you guys.

ok!
now i trade with a clean chart using price action and support and resistance, ppz and horizontal lines. I work with weekly, daily and 4hr charts sometimes using the 15min to finetune entrys. mostlyt signals come from 4H.

question for the PA purists would you suggest anything more or is that enough?.]
i have been using this method for a few weeks and have had good success (90% BE or better) and very small losses compared to methods I was using before.

Could someone please explain the significance of LCS and HCR in a range and how i could utilise this when consolidation is taking place.

Hope that is all clear.
I welcome any advice and thanks for reading.

regards
priceonly
  • #93,255
  • Apr 8, 2011 7:57am Apr 8, 2011 7:57am
Quoting Be Cool
I'm fascinated You trade Lower TF and yet are able to see where price is going on a larger move/higher TF. How do you do this?

Do you plot higher TF PPZ first and see where price might be going (from one PPZ/S/R to the next) Then trade the lower PPZ and see minor PPZ/S/R as posing less trouble?

Please teach me more about how to gauge the strength of PPZs/traffic by observing recent price reaction to it?
...
haha. u answered your question yourself.

dont make it sound like it's hard, because it isnt.
we all just need enough chart time.

yes, i plot higher TF PPZs. we all should do that. plot daily to monthly PPZs (H4 & below PPZs, if necessary).
there is only one answer when it comes to learning & improving --- chart time & more chart time.

& as i always say, we are unique, so we'll all trade differently.
PPZ plotting is part of the basics. if u get good at it, u can add your personal trading style/s (breakout trades, touch trades, PA trades, etc)..

do keep posting.. keep asking questions.
just remember, when u post/ask a question, it's often a two-way street:
the interviewer & interviewee both learn.. in 1 way or the other

learning & improvement stops when curiosity & zeal ceases
ALL OF US CAN DO THIS
  • #93,256
  • Apr 8, 2011 8:19am Apr 8, 2011 8:19am
Quoting Miko1
Guys.
How did you guys start out with this method?
How many pairs did you watch? Just the weekly/daily timeframes? I would like to hear some advice from the more experienced traders so that I have some idea of how to approach all that....
personally i started out more than 2 years ago,
by reading post, studying charts by everyone.
then i tried plotting PPZs, S/Rs.
asking questions along the way..
as u go along, u will feel an affinity with certain posters, because u feel that are quite similar to their posting style, plotting style, trading style... at this stage, u will narrow down your intensive reading/studying to a few posters... while keping updated of the whole thread.

pairs i watch? it's been a mixed bag then & now (i have a hard time concentrating on stuff). but in the past few days/weeks, i've been trading eurusd, eurgbp, eurjpy only.
i trade lower TFs ( most should definitely start with Daily/weekly)
in these aspects (pairs monitored & TF traded), everyone will vary.

hope this helps!

Quoting priceonly
Hi guys, ...
now i trade with a clean chart using price action and support and resistance, ppz and horizontal lines. I work with weekly, daily and 4hr charts sometimes using the 15min to finetune entrys. mostly signals come from 4H.

question for the PA purists would you suggest anything more or is that enough?....
Could someone please explain the significance of LCS and HCR in a range and how i could utilise this when consolidation is taking place.
hello priceonly,
Welcome!
im not a PA purists, but let me try...

what u do is enough, IMHO..
if u are having success with that it would be best to stay the course.

alternatively, try out other style on the side... explore.. test.. see what u like/dont like.
u can only solicit for suggestions here. but ultimately, u'll come back to yourself: what fits & suits u personally.

regarding HCR & LCS, im not adept at that topic.. Sir Jaroo can chime in better.
but i think u can use it as an ultimate line in the sand.. an added or special layer of PPZ, if u will...
if price closes above/below it, u can expect possibility of price continuation in that particular direction.

hope this helps! keep posting Sir!
  • #93,257
  • Apr 8, 2011 8:25am Apr 8, 2011 8:25am
Quoting Pinbar
Hi,

Can't understand why you are talking about a potential entry at any price.
We wait for a price action setup to show us an entry not just taking a blind entry. Unless it is a breakout and pullback blind entry at a former resistance or support area.
Good to have you back and rolling Steve.

g.
I believe . . .
  • #93,258
  • Apr 8, 2011 8:38am Apr 8, 2011 8:38am
Quoting rackem89
Hey guys,

just wanted to introduce myself and say hi to everyone. Been reading this thread for about a month, and as many have said before me, this is amazing stuff and it's really awesome to see people helping one another here.

I have a quick question: does this look like a good setup to anyone? I'm looking at the daily EURUSD, it broke resistance a couple days ago and had an inside bar breakout today. Any ideas?

...
Welcome Rackem

Yep that is a great setup. That previous high of the euro with an IB sitting right on top

Great first post glad to have ya

Mike
  • #93,259
  • Apr 8, 2011 8:54am Apr 8, 2011 8:54am
Quoting Miko1
Guys..I am loving this thread and the way the naked charts look like. I come from a pretty indicator based system which a lot of clutter on the charts that let me freeze when important decisions came up.
I also had the feeling the indicators let me get in the trade too late.

But since I discovered james16 and the way he talks about the sup/res zones, pinbars and engulfing candles I am very happy and I feel I found something that fits more my personality. I am currently reading as much as I can and try to understand what you guys talk about in...
Hey Miko

Welcome too! Lovin the new faces

Going from indicator Hell to a clean chart is a huge relief for most.

I always suggest watching as many pairs as you can on the daily /weekly only first(as per the j16 min requirements in post #1) Instead of getting overly tied to one pair(ie someone who only trades the euro and gets very heavy focused on every small detail) y ou can watch tons of pairs and just sit and be picky(rifle shot mentality)

Glad you are enjoying the thread and continue to post and ask questions
Mike
  • #93,260
  • Apr 8, 2011 8:56am Apr 8, 2011 8:56am
Quoting supremeChaos
hello Mónika
i think FTA is a bit closer. around 1.6350 area
be careful with the uptrend. stay alert if ever u are gonna trade this.
Boom, SC knows his stuff

When we step in front of the train we must must watch that very FTA

This post and Panthera chart following it , should be eye opening to most

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