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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

  • #96,901
  • Jun 18, 2011 10:31pm Jun 18, 2011 10:31pm
Quoting Strick
Cheers mate, it helps alot!

Thats what I was guessing but I really was only guessing as I had no idea so cheers for clearing that up.

Do you know if they only keep the pivot for the previous day or do they keep them on the chart for at least a few days or?...

And do you just look at the weekls and daily pivots ar do we go for monts, 6month, yearly etc..

If you are referring to the pivot point and not the pivot zone. They need to be recalculated daily (if their are calculated from a daily bar) or weekly (if they are calculated from a weekly.

To get a pivot point you take the (high+low+close)/3. So if it is a daily time frame the pivot will move daily, weekly it will move weekly. There is a bit more to pivot points then this. The also have several levels of resistance and support zones above and below the central pivot.

I personally do not use pivot points. I use only the pivot zones (areas of S&R) that james calls PPZ. I believe these areas are where a lot of stops and large orders tend to be which can cause reversals. I prefer to look for PA in those areas as well as BRN zones and large MA areas.
  • #96,902
  • Jun 18, 2011 10:41pm Jun 18, 2011 10:41pm
Quoting Pinbar
Yeah, you are right about the horizontal support and resistance or PPZ levels, where price is flipping from one pole to the other.
However, not many people use conventional pivots with FX, in this thread.
Combining Round Numbers, with PPZ and other confluence factors such as fibos, TLs etc, is the way to go.

Happy trading
Thanks for stepping in, I hadn't seen a lot of traditional pivot point trading here myself. I was really confused about the PPZ subject myself when I first looked at this thread. It wasn't until I saw one of the videos in the PF that I was certain of the definition.


Thanks again

Jacob
  • #96,903
  • Jun 18, 2011 11:31pm Jun 18, 2011 11:31pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting james16
THANK YOU ALE,

JIM
Thank you Ale? As in Ginger Ale? LOL

Happy 6th Jim16 thread. Sorry I was late to the party....
I have seen the enemy, and it is me.
  • #96,904
  • Jun 19, 2011 4:19am Jun 19, 2011 4:19am
any thought? ( on long entry)
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  • #96,905
  • Jun 19, 2011 4:25am Jun 19, 2011 4:25am
where the swiss going?
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  • #96,906
  • Edited 6:07am Jun 19, 2011 4:52am | Edited 6:07am
J16

If you have a moment of free time during your celebrations, any chance you could give me your opinion on my way of thinking on this EUR/AUD trade?

Reason is telling, it may be better to not keep such a tight rain on this SL, as I have taken plenty off the table already and I don't want to strangle this trade. Not that, I am not trying to be greedy, I just want to learn to have a little more faith in the setup after getting into the free trade position.

I'm off for another swim as my wife is loose in Hong Kong with my credit card.
I can cry tears in the pool and nobody will notice.
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  • #96,907
  • Jun 19, 2011 6:00am Jun 19, 2011 6:00am
Quoting crusen
Hi Tomek

I traded stocks a lot years ago but after discovering futures and currency didn't really trade stock any more. I did all of this trading on 5m charts.
Nowadays, I only trade daily and 4h with 1h at times...
Thanks for the input Crusen,

Wow, 5m!? You must have been quick on the trigger?
Unlike many stocks, what I like about forex is the clarity of the charts. But by increasing my library, I'm hoping that I'll be able to find more A+ setups and stick to daily/weekly timeframes only. It's a real distraction at work following the 4h and 1h charts!

I'll see how the charts I posted resolve themselves next weekend and if it's worth pushing for.

Thanks
  • #96,908
  • Jun 19, 2011 9:15am Jun 19, 2011 9:15am
Quoting Pinbar
J16

If you have a moment of free time during your celebrations, any chance you could give me your opinion on my way of thinking on this EUR/AUD trade?
Hi Steve

I see no concrete PA just yet either way, but here are some thoughts on a chart.

Good luck with the trade, and on your travels
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  • #96,909
  • Jun 19, 2011 9:54am Jun 19, 2011 9:54am
Quoting Strick
I been following this for about 3 weeks now and learning more then i have in the last 4 years i been doing it

SO THANK YOU MORE THEN YOU COULD EVER IMAGINE J16

Anyway, question I have is about the pivots

I thought these were something you would just draw on the chart by eye.
I thought that swing highs and swing lows reacting of the same price was a pivot but now i am up to page 30 and people are talking about "working out the pivots mathematically" so I am confused????

Which is it? By eye or by mathematical calculation?

Or both? Or are the...
Hey Strict

Welcome to the thread

The PPZ(price pivot zones) we use are not mathematical. They are the flip b/w support and resistance

Try this post to get you started on them they are very important

http://www.forexfactory.com/showthre...16#post2252116

Best
Mike
  • #96,910
  • Jun 19, 2011 10:28am Jun 19, 2011 10:28am
lot of celebrating on this thread this weekend and the most important of all

Happy fathers day to all you fathers out there. I don't know where I would be without mine


Mike
  • #96,911
  • Jun 19, 2011 10:32am Jun 19, 2011 10:32am
Happy Father's Day to all you fathers out there!
  • #96,912
  • Jun 19, 2011 11:04am Jun 19, 2011 11:04am
Hi every one,
I hope you enjoy your sunday !

I had a discution with a friend (professional trader) and he was confused I wasn't using High/low and pivot monthly lines on my chart.

It seems these levels are watched and followed by institutions. They are intresting levels and it should be usefull to watch them for analyses.

Some of us do ?

thx
  • #96,913
  • Jun 19, 2011 11:04am Jun 19, 2011 11:04am
Thanks Jim, from one of the relative 'newbies' to your site. It didn't take long to appreciate everything you do for us traders - thanks again and many happy returns.

Gregg
Gregg Sniper in training
  • #96,914
  • Jun 19, 2011 11:32am Jun 19, 2011 11:32am
Quoting danielga
where the swiss going?
it's an uptrend, you know?

that being said, there's no real PA whatsoever.

I plan to fade if it'll get to 94, since I consider 94-94.3 to be a solid zone. But with a very small position and with a very tight stop which I intend to move at be very fast(but then I also faded the downmove to 91.5 and instead it reversed at 90).

that being said, it seems right now that risk off is + for yen on this pair(justified in a way, the franc is abit "bubbly"). Macroecon. wise, it should go up, but gl making money in a reasonable timeframe with that...

also, I doubt there'll be major moves till the end of the month on all of the market(except something unexpected happening, obviously) so I'd expect the highest prob. to be box action 94 - 96.5(but that highest prob. is ~50% in my book, not 90%, so it's worthless).

how I see it:
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  • #96,915
  • Jun 19, 2011 12:48pm Jun 19, 2011 12:48pm
Quoting snowly
it's an uptrend, you know?

that being said, there's no real PA whatsoever.

I plan to fade if it'll get to 94, since I consider 94-94.3 to be a solid zone. But with a very small position and with a very tight stop which I intend to move at be very fast(but then I also faded the downmove to 91.5 and instead it reversed at 90).

that being said, it seems right now that risk off is + for yen on this pair(justified in a way, the franc is abit "bubbly"). Macroecon. wise, it should go up, but gl making money in a reasonable timeframe with...
nice observation, and the fact that in the last range it went through support down to 90, makes me want to pass on that, so thanx

usdcad
kinda ugly pin bar-doji and IB
is it worth to play the range maybe?
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  • #96,916
  • Jun 19, 2011 2:36pm Jun 19, 2011 2:36pm
Quoting danielga
nice observation, and the fact that in the last range it went through support down to 90, makes me want to pass on that, so thanx

usdcad
kinda ugly pin bar-doji and IB
is it worth to play the range maybe?
I put my thoughts on the chart, but had another thought as well. In Forex there will always be tomorrow so don't force a trade just to trade. You say "kinda ugly pin bar" and that says it all to me. Took me a while to figure out, but good trades don't have qualifiers like that before you explain them. They start out from the thought process of "How could I not trade this. This is what I have been waiting for."
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  • #96,917
  • Jun 19, 2011 4:13pm Jun 19, 2011 4:13pm
Anyone else watching GUSD atm for some sort of a reaction off of the wedge pattern? Just currious as it broke out and closed below on Thurs and formed a bit of an inside bar on Fri. Not sure exactly what will happen, but it would be nice to see some sort of a reaction off of the lower TL. Not much space, but with some decent PA I would definitely be in for a conservative sell (with a quick TP). Any additional thoughts from others would be greatly appreciated.

Thanks,
Ryan
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  • #96,918
  • Jun 19, 2011 5:50pm Jun 19, 2011 5:50pm
Quoting Walcott
Hi every one,
I hope you enjoy your sunday !

I had a discution with a friend (professional trader) and he was confused I wasn't using High/low and pivot monthly lines on my chart.

It seems these levels are watched and followed by institutions. They are intresting levels and it should be usefull to watch them for analyses.

Some of us do ?

thx
in my experience they often show a significant area but just as often (almost) dont. ( i used to plot them regularly).
the point to me personally is that the chart ALWAYS shows the significant area...it seems to render them pretty much useless imho...???

jus my view


jon
PATIENCE... DISCIPLINE
  • #96,919
  • Jun 19, 2011 6:39pm Jun 19, 2011 6:39pm
Quoting mbqb11
Hey Strict

Welcome to the thread

The PPZ(price pivot zones) we use are not mathematical. They are the flip b/w support and resistance

Try this post to get you started on them they are very important

http://www.forexfactory.com/showthre...16#post2252116

Best
Mike
Thanks mate that was just what I needed to clear it all up.

Cheers.
  • #96,920
  • Jun 19, 2011 6:47pm Jun 19, 2011 6:47pm
This has nothing to do with trading but i'm sure you will all find it amusing anyway...

I live in Australia and we have fathers day in September, but i didn't know this cause i dont remember any dates, not even family birthdays or anything, (except my girlfriends - just to stay out of trouble)

Anyway, ironically my dads in town and i took him to dinner last night AND HIS WIFE PAID then woke up this morning (its 9am here) to read you guys all saying HAPPY FATHERS DAY

So i freaked out and thought "i took him to dinner, didnt say happy fathers day, and let his wife pay for it!!!"

As you can imagine - when i just rang him to say sorry followed by happy fathers day, he laughed at me, made fun of me then informed me of the different dates for Australia and the rest of the world...

Oh well, it's the thought that counts apparently...
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