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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

  • #93,381
  • Apr 10, 2011 8:55am Apr 10, 2011 8:55am
Quoting supremeChaos
Hello Be Cool,
im still waiting for your PM reply. anyway, i'll have a go at it now..

let me start by saying there are no certainties. we only trade with probabilities.
in that light, we cant be 100% in knowing beforehand what price will do, how it will react.
having knowledge of S/R.. we are able to tip the weight slightly in our favor in terms of WIPG etc. then we try to be consistent in that path.
also, im still in a transition to trading Daily & up charts (while trading lower TFs), so my trade management & perspective might be different...
Is that a post or what!?

Brilliant. . . Just mindbogglingly brilliant.

(getting in a strange habit of inventing words )

g.
I believe . . .
  • #93,382
  • Apr 10, 2011 9:24am Apr 10, 2011 9:24am
Quoting ghous
Is that a post or what!?
...
thanks..
but seriously, what about it was brilliant?
if anything it was mindbogglingly...... slowly done.
i think it took me 30-50minutes to analyze, edit/post charts, & post.
that's why i shy away from posting with charts.

i think Be Cool got me into a tight corner. hahah


i think they were simple S&R charts, with clutter (minor PPZs).
  • #93,383
  • Apr 10, 2011 9:50am Apr 10, 2011 9:50am
Quoting supremeChaos
thanks..
but seriously, what about it was brilliant?
It was a gem of a post, thank you. Really helpful!
  • #93,384
  • Apr 10, 2011 9:57am Apr 10, 2011 9:57am
Quoting cammomile
I was a gem of a post, thank you. Really helpful!
There you go Chaos.

You have a great teacher within you,

That post was laden with gems and jewels.

g.
I believe . . .
  • #93,385
  • Apr 10, 2011 10:00am Apr 10, 2011 10:00am
Quoting cammomile
It was a gem of a post, thank you. Really helpful!
hahah, are u sure?
it's nothing new, actually..

Quoting ghous
...
You have a great teacher within you,
...
teacher? hahah

many thanks everyone
  • #93,386
  • Apr 10, 2011 11:26am Apr 10, 2011 11:26am
SC makes charts?
Many choose unhappiness over uncertainty.
  • #93,387
  • Apr 10, 2011 11:38am Apr 10, 2011 11:38am
Here we go. Up to my standards at least....
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Many choose unhappiness over uncertainty.
  • #93,388
  • Apr 10, 2011 12:56pm Apr 10, 2011 12:56pm
Quoting Dan Gilbert
SC makes charts?
surprising?

no, i market make them

Quoting Dan Gilbert
Here we go. Up to my standards at least....
watch out...
u 'sold high'... i might 'buy low' from u around 1.4800-20.. if the "strawberry jam traffics" there
  • #93,389
  • Apr 10, 2011 1:17pm Apr 10, 2011 1:17pm
Originally Posted by supremeChaos http://www.forexfactory.com/images/buttons/viewpost.gif

thanks..
but seriously, what about it was brilliant?

Great post, really helps to show PPZ's FTA's and explaining it clearly as well.
These really helped me understand.

Many thanks SC

Much appreciated

Regards

Malarky
  • #93,390
  • Edited 1:31pm Apr 10, 2011 1:17pm | Edited 1:31pm
Quoting supremeChaos
surprising?

no, i market make them


watch out...
u 'sold high'... i might 'buy low' from u around 1.4800-20.. if the "strawberry jam traffics" there

Oh I see it, but am not excessively frightened


EDIT: I didn't realize it, but the weekly looks even better....
Many choose unhappiness over uncertainty.
  • #93,391
  • Apr 10, 2011 2:22pm Apr 10, 2011 2:22pm
Hey guys,

I have a question about Fib Levels. The charts will explain the question in context, but basically I wanted to know if fib levels can flip between support and resistance. In other words, if a fib level is supposed to imply resistance, but price disregards it and moves past it anyway, if price retraces, can that same level act as support, or not at all?

As I said, the charts will explain my question better, I hope. Sorry if this is confusing!

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  • #93,392
  • Apr 10, 2011 2:48pm Apr 10, 2011 2:48pm
Quoting rackem89
Hey guys,

I have a question about Fib Levels. The charts will explain the question...
Hey Rackem,

First off you're drawing your fibs upside down. To draw them right, you start from the start of the move to the end of the move.

And yeah once broken to the downside the fib level can still act as resistance if price pulls back to it. A lot will depend on the PPZ (if any) in that area and or RNs.

Regarding your second chart, when two fib levels line up close to each other it is valid fib confluence. It does not matter whether they stretch from an up move or a down move.

The important thing however is to understand that fib levels in themselves are less significant to us unless they are in confluence with PPZs. Your main trigger has to be a good PA setup at a good PPZ. Additional confluences with fib levels and MAs are good things to have bit never enough to trigger a trade without a heads up from a responsive PPZ area.

Hope this helps.

g.
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I believe . . .
  • #93,393
  • Edited 3:01pm Apr 10, 2011 2:50pm | Edited 3:01pm
Quoting rackem89
Hey guys,
I have a question about Fib Levels. ..
....
Hello rackem89
just my view...
Fibs (projections... like other indicators) are derived from price & usually align with real S&R.
it would be best to place greater importance on & emphasis on usage of price & price S&R.
use Fibs as a guide/tool/confluence.

hope this helps.

Quoting Dan Gilbert
Oh I see it, but am not excessively frightened
....
yes, everything in excess is harmful
  • #93,394
  • Apr 10, 2011 3:15pm Apr 10, 2011 3:15pm
supremeChaos and Ghous,

can't thank you enough
  • #93,395
  • Apr 10, 2011 3:19pm Apr 10, 2011 3:19pm
very good Supreme ( being )

Very very good, ghous !

Cheers

V
  • #93,396
  • Apr 10, 2011 4:08pm Apr 10, 2011 4:08pm
Quoting Dan Gilbert
Here we go. Up to my standards at least....
I was also looking at this...

https://lh3.googleusercontent.com/_T...pchf-daily.png
  • #93,397
  • Apr 10, 2011 5:11pm Apr 10, 2011 5:11pm
.
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  • #93,398
  • Apr 10, 2011 5:14pm Apr 10, 2011 5:14pm
Not quite good enough for me, however, I would enter at a break of the 1.4850 support rather than the break of the bar itself. 1.4850 should provide a decent retracement of the BEOB if anything else.

Scott

Quoting Dan-FX
I was also looking at this...

https://lh3.googleusercontent.com/_T...pchf-daily.png
  • #93,399
  • Apr 10, 2011 8:22pm Apr 10, 2011 8:22pm
Man I didn't look at the forum all weekend. It was my birthday I could have sent you quite a few pictures of drinks.

Had quite a few vodka drinks this weekend.

Okay now lets get serious. lol




Quote:
Originally Posted by mbqb11
I got to have a few drinks with some PF members, me and Dave(dmc) had our fair share of soco shots, but I really like most everything



Oh man . .I'm sure you also had your fair share of jager(meister) bombs too . .
__________________
Indicators show the past. Price Action "Indicates" the future.
  • #93,400
  • Apr 10, 2011 8:54pm Apr 10, 2011 8:54pm
Quoting jarroo
Starting from the left of my chart, we can see that there is a Resistance level here by the Highs in blue. I like using this Highest Close of Resistance of this Resistance level to indicate the highest point that Price closed . .and we know where Price closes is important.

We also know that when Price breaks through a Resistance level it will then turn into a Support level, (and vice versa). Having a Close above a Resistance level is a good confirmation that this break through of Price made it through this level . . hence . . . Price Breaks Through...

Jaroo

How come on the weekly you have the HCR as 1.626500 but on the daily chart it has changed to 1.62500.
This is confusing me.
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