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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

  • #93,581
  • Apr 13, 2011 9:46pm Apr 13, 2011 9:46pm
Quoting jarroo
That looks great Pb . .

It would have been better it the PB was at more of a swing High . . but the story is there as you illustrated . .nice job.

Thanks Jarroo

Being in China and not having access to the full web,nor understanding much on TV, has its advantages.
I get to think more about what I am doing and right now, my main purpose is doing what you so kindly taught me.
  • #93,582
  • Apr 13, 2011 9:56pm Apr 13, 2011 9:56pm
E/G just came off a double top... I like the .8650 area as a target.

Maybe A/C will react the same way on a 3rd touch.

-- Danny
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  • #93,583
  • Apr 13, 2011 10:24pm Apr 13, 2011 10:24pm
EUR/CAD looks like it is stuck between a rock & a hard place.

Let's see if PA show us how it will tip its hand.

I don't like that IB, if it was off the VBRN, I may have liked it.
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  • #93,584
  • Apr 13, 2011 10:31pm Apr 13, 2011 10:31pm
Quoting Pinbar
EUR/CAD looks like it is stuck between a rock & a hard place.

Let's see if PA show us how it will tip its hand.

great example of the "boxing" effect huh ?
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  • #93,585
  • Apr 13, 2011 10:58pm Apr 13, 2011 10:58pm
Quoting ddinnov
Anyone looking at the GBP/JPY IBP?

At quite a nice location with some good space to run a good 100-200 pips..
These will kill you fast if you don't learn to locate them correctly.

I talk a lot about IPBs being near their ideal locations rather than at them as poor setups. This setup could have been better had it formed at the 135.5 level PPZ in confluence with the 365 EMA

Do you see what today's bar did so far? It went right down to test that confluence area. Price does this a lot and you will get burned if you don't realize that near a good location isn't quite as good as at the location.

Now could you have widened your stop to accommodate 135.5? Yes you could. But essentially when the shorter wick on an IPB get's breached the trade is done and dusted for me (more like when price breaches the longer wick of a regular pin bar) and from there on what price does is essentially meaningless in terms of the trade.

Furthermore that really looked like an IB than an IPB really. A longer nose was required.

g.
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I believe . . .
  • #93,586
  • Apr 13, 2011 11:12pm Apr 13, 2011 11:12pm
Quoting mbqb11
great example of the "boxing" effect huh ?

Yes, Mike.

And how many millions of times have you so enthusiastically tried to instill this in us. I guess the penny has to drop and we need to hear the Clink.
I always hear your voice when I see these boxes, it says, Box, Box, BoX! LOL

Many thanks for your efforts Mike.
  • #93,587
  • Apr 14, 2011 12:37am Apr 14, 2011 12:37am
Quoting ghous
These will kill you fast if you don't learn to locate them correctly.

I talk a lot about IPBs being near their ideal locations rather than at them as poor setups. This setup could have been better had it formed at the 135.5 level PPZ in confluence with the 365 EMA

Do you see what today's bar did so far? It went right down to test that confluence area. Price does this a lot and you will get burned if you don't realize that near a good location isn't quite as good as at the location.

Now could you have widened your stop to...
Thanks G
Anything can happen.
  • #93,588
  • Apr 14, 2011 12:40am Apr 14, 2011 12:40am
take a look at dd today. nice swing and bounce from the trendline. pinbar is rather so so.
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meine augen sind die sterne
  • #93,589
  • Apr 14, 2011 12:53am Apr 14, 2011 12:53am
german fresenius on daily. highest close ever. above 50 euro further upmove likely.
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meine augen sind die sterne
  • #93,590
  • Apr 14, 2011 1:23am Apr 14, 2011 1:23am
TOUCH TRADE CHARTS
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  • #93,591
  • Apr 14, 2011 1:44am Apr 14, 2011 1:44am
Quoting james16
TOUCH TRADE CHARTS

Great charts Jim ..

Yours charts through the years have really helped shorten the learning curve . .if people would just take the time to review and study them.

One thing that helps about your charts is that they are an easy read . . . . simple stuff here folks.


Don''t remind me about your Usd/Cad example. . I missed that one . . . .great confirming lower time frame bearish PA on that one.


Thanks Jim

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #93,592
  • Apr 14, 2011 1:49am Apr 14, 2011 1:49am
thanks buddy. as you know the hard part is to get people to start out the right way. if we can do that then they really do have a shot at this.

jim

Quoting jarroo
Great charts Jim ..

Yours charts through the years have really helped shorten the learning curve . .if people would just take the time to review and study them.

One thing that helps about your charts is that they are an easy read . . . . simple stuff here folks.


Don''t remind me about your Usd/Cad example. . I missed that one . . . .great confirming lower time frame bearish PA on that one.


Thanks Jim

Jim
  • #93,593
  • Apr 14, 2011 1:55am Apr 14, 2011 1:55am
Quoting jarroo
Great charts Jim ..

Yours charts through the years have really helped shorten the learning curve . .if people would just take the time to review and study them.

One thing that helps about your charts is that they are an easy read . . . . simple stuff here folks.


Don''t remind me about your Usd/Cad example. . I missed that one . . . .great confirming lower time frame bearish PA on that one.


Thanks Jim

Jim
Totally agree.
The charts and setups are simple and clear. If I had payed an attention on this thread earlier I could avoid almost 1 year struggling with 5M/15M based systems.
Thanks for that.
Jarda
Follow my trading on Twitter and FB: @pumlitch
  • #93,594
  • Apr 14, 2011 1:57am Apr 14, 2011 1:57am
Quoting james16
thanks buddy. as you know the hard part is to get people to start out the right way. if we can do that then they really do have a shot at this.

jim

This is true. . that's what's so great about this Thread . Its so big and popular that new traders and old traders alike can't ignore it.

You've saved a lot of traders alot of grief by being here. . .myself included. lol
Indicators show the past. Price Action "Indicates" the future.
  • #93,595
  • Apr 14, 2011 2:03am Apr 14, 2011 2:03am
Quoting Pumlitch
Totally agree.
The charts and setups are simple and clear. If I had payed an attention on this thread earlier I could avoid almost 1 year struggling with 5M/15M based systems.
Thanks for that.
Jarda
I know the feeling Jarda . .better late then never . .
Indicators show the past. Price Action "Indicates" the future.
  • #93,596
  • Apr 14, 2011 2:06am Apr 14, 2011 2:06am
Quoting james16
TOUCH TRADE CHARTS
Got same thing happening now on cable - lets see how this plays out.

Great charts Jim.

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  • #93,597
  • Apr 14, 2011 2:08am Apr 14, 2011 2:08am
Quoting jarroo
Great charts Jim ..

Yours charts through the years have really helped shorten the learning curve . .if people would just take the time to review and study them.

One thing that helps about your charts is that they are an easy read . . . . simple stuff here folks.


Don''t remind me about your Usd/Cad example. . I missed that one . . . .great confirming lower time frame bearish PA on that one.


Thanks Jim

Jim

Still the most valuable charts posted on this thread are from the thread creator himself.
Many choose unhappiness over uncertainty.
  • #93,598
  • Apr 14, 2011 2:15am Apr 14, 2011 2:15am
Quoting stewrigh
Got same thing happening now on cable - lets see how this plays out.

Great charts Jim.

Attachment

The Weekly may be more telling which would be in an agrreement with your chart.
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Indicators show the past. Price Action "Indicates" the future.
  • #93,599
  • Apr 14, 2011 2:17am Apr 14, 2011 2:17am
Quoting Dan Gilbert
Still the most valuable charts posted on this thread are from the thread creator himself.

This is true . .but I'll take a Mike chart any day of the week.
Indicators show the past. Price Action "Indicates" the future.
  • #93,600
  • Apr 14, 2011 2:19am Apr 14, 2011 2:19am
AS WILL I.

Quoting jarroo
This is true . .but I'll take a Mike chart any day of the week.
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