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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

  • #96,961
  • Jun 20, 2011 1:30pm Jun 20, 2011 1:30pm
Quoting mbqb11
yes a PPZ is simply an "area" where there is a flip b/w support and resistance

These can be zones, and are often not one specific point. Often times they line up with other things such as round numbers

Posts that best explain it

http://www.forexfactory.com/showpost...postcount=9035

http://www.forexfactory.com/showpost...postcount=9037

http://www.forexfactory.com/showpost...postcount=9038

http://www.forexfactory.com/showpost...postcount=9040

http://www.forexfactory.com/showpost...postcount=9041

http://www.forexfactory.com/showpost...ostcount=12722

Tips...
Thanks for posting. You guys are doing a great job and at no charge. I can't wait till I get some money just so I can check out what other nuggets of information you guys can't talk about in the james16group.com.
  • #96,962
  • Edited 2:46pm Jun 20, 2011 2:45pm | Edited 2:46pm
Quoting mbqb11
one too watch

ha ha I love seeing when I am seeing the charts as you do Mike. This looks like a very interesting space on the chart. Just out of curiosity does something like this occur from gov't intervention or what do you think? This is just proving to be a very strong area on the chart, but I don't exactly see why.
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  • #96,963
  • Jun 20, 2011 2:58pm Jun 20, 2011 2:58pm
Hi guys.
Been inactive for a while, due to work: hope to get more involved from now.
Watching Crude: not the biggest pin, but in an interesting area + divergence. A couple of blue anoying areas, that doesn't look like resistance areas though.
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Trading: the skill of avoiding trades
  • #96,964
  • Jun 20, 2011 3:49pm Jun 20, 2011 3:49pm
Quoting gungriffin
ha ha I love seeing when I am seeing the charts as you do Mike. This looks like a very interesting space on the chart. Just out of curiosity does something like this occur from gov't intervention or what do you think? This is just proving to be a very strong area on the chart, but I don't exactly see why.
Hey Griff

I don't really point to gov't intervention just cause there was no real capitulation or real reason I see them for stepping in. Now that doesn't mean banks aren't buying or their aren't larger orders that temporarily halted it. But it doesn't really matter much to me personally. The area is holding but not even really that strong as you can see we are retesting it in a relatively short period of time in a strong down trend, these tend to give out. I don't like to over think things too much and more just look for ways I might be able to profit of a developing story

Hope that helps somewhat
Mike
  • #96,965
  • Jun 20, 2011 4:02pm Jun 20, 2011 4:02pm
Quoting mbqb11
Hey Griff

I don't really point to gov't intervention just cause there was no real capitulation or real reason I see them for stepping in. Now that doesn't mean banks aren't buying or their aren't larger orders that temporarily halted it. But it doesn't really matter much to me personally. The area is holding but not even really that strong as you can see we are retesting it in a relatively short period of time in a strong down trend, these tend to give out. I don't like to over think things too much and more just look for ways I might be able...

Yeah it sure does. I certainly understand what you are saying. At the end of the day all that really matters is PA with a good story behind it
  • #96,966
  • Jun 20, 2011 5:20pm Jun 20, 2011 5:20pm
IB on the eurusd 4h. A pause before another move to the upside? It's quite an inactive time of the day
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  • #96,967
  • Jun 20, 2011 6:19pm Jun 20, 2011 6:19pm
Hello Folks. Looks like you may have to put up with me for a While More.

Where's Big Mike, damn these lights a blinding, Oh, There he is. 7th Row On The Aisle... I'm not surprised and He Deserves it.
Luv ya Bud. I'll be Here all Week And got a contract for Future Bookings.
(Hmmm... I better get working on some New Variations of stuff.)

Life is good.

B

OK.
I was just about to click the Post Button when I thought...
This isn't Peeled Away Honesty, which is what I joined the Group for... I liked the ' Hey, If I'm Wrong, I'll Learn '. That's the camraderie that got the Group thing going & still does today.
None of that Black Cloak & Mirrors $#it that can be found on Trading all over the Web
The Truth is... In a nutshell that will proly {see... I have been learning here too. I used to think PROLY was bad spelling of Brolly. Wt a friggin' brit}
Oh... Am I waxing with joy?

Mike Knows; has done for a while; that my health WASN'T Great.

I just wanted to tell him Thankyou for all you that supported me through this. You wern't a Runner, You were A Wall, A sounding Board & A Friend.

There. I'm Clean of announcements. {at least on the public side }
Wait 'till you see how mushy I can be on the other side.
I Made it Bud.
Thanks, in no small part, To You.
Thanks Mike. Thank you mbqb11. & you can carry that one with you as far as you like.
I know you will say you only listned...
Thanks bud.

Bemac
Bmc
B

  • #96,968
  • Jun 20, 2011 6:36pm Jun 20, 2011 6:36pm
Quoting Bemac
Hello Folks. Looks like you may have to put up with me for a While More...
Looking forward to it Bemac
  • #96,969
  • Jun 20, 2011 7:04pm Jun 20, 2011 7:04pm
Quoting Bemac
Hello Folks. Looks like you may have to put up with me for a While More.

Where's Big Mike, damn these lights a blinding, Oh, There he is. 7th Row On The Aisle... I'm not surprised and He Deserves it.
Luv ya Bud. I'll be Here all Week And got a contract for Future Bookings.
(Hmmm... I better get working on some New Variations of stuff.)

Life is good.

B

OK.
I was just about to click the Post Button when I thought...
This isn't Peeled Away Honesty, which is what I joined the Group for... I liked the ' Hey, If I'm Wrong, I'll Learn '. That's...
I am smiling here B

Very happy post for me to see

PS I only listened
  • #96,970
  • Jun 20, 2011 7:08pm Jun 20, 2011 7:08pm
Anyone notice the daily pinbar from yesterday has just broken on AUDJPY and it bounced of confluence at 84 (PPZ and 38% retrace)
  • #96,971
  • Jun 20, 2011 7:23pm Jun 20, 2011 7:23pm
Quoting mbqb11
Yes this is a good example of trading back into traffic. Unless the location is solid enough this can be tricky. You are sitting on top of a box which has proven to be a supply/demand tug of war. Overall gbp/usd has been pretty choppy but the middle point of this box could easily bounce price. So managing it becomes a bit tougher in these situations. With it being afternoon already that just adds to the choppiness that tends to occur late in the day.


Best
Mike
Hi Mike, your analysis is amazing, the price proved that few hours later, so could you please help to check if below 2 charts are "trading to traffic"?
One of them is in my demo progress, but looks like a lot of trouble areas above the 3 pin bars.
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----------------------------- Discipline makes the difference.
  • #96,972
  • Jun 20, 2011 7:23pm Jun 20, 2011 7:23pm
Quoting gungriffin
Yeah it sure does. I certainly understand what you are saying. At the end of the day all that really matters is PA with a good story behind it
heck ya
  • #96,973
  • Jun 20, 2011 7:29pm Jun 20, 2011 7:29pm
Quoting CavinK
Hi Mike, your analysis is amazing, the price proved that few hours later, so could you please help to check if below 2 charts are "trading to traffic"?
One of them is in my demo progress, but looks like a lot of trouble areas above the 3 pin bars.
Hey Cavin

Technically on your charts what you have is pinbar, inside bar, then BUOB

My issue is were stuck b/w a rock and hard place just as you said. What worries me is prices inability to close above the BRN of 115. This is very important to me. Thus we are trading back into(as opposed to away from) a very major PPZ.

I am also watching a larger pattern that could provide a bounce(see my eur/jpy post here http://www.forexfactory.com/attachme...4&d=1308235710 ) as well to the downside. This doesn't mean the BUOB won't work(already has to some degree) but it's a few minor things that would keep me out

Hope that helps
Mike
  • #96,974
  • Jun 20, 2011 8:05pm Jun 20, 2011 8:05pm
i hope i get to put up with you for many years to come.

jim

Quoting Bemac
Hello Folks. Looks like you may have to put up with me for a While More.

Where's Big Mike, damn these lights a blinding, Oh, There he is. 7th Row On The Aisle... I'm not surprised and He Deserves it.
Luv ya Bud. I'll be Here all Week And got a contract for Future Bookings.
(Hmmm... I better get working on some New Variations of stuff.)

Life is good.

B

OK.
I was just about to click the Post Button when I thought...
This isn't Peeled Away Honesty, which is what I joined the Group for... I liked the ' Hey, If I'm Wrong, I'll Learn '. That's...
  • #96,975
  • Jun 20, 2011 8:37pm Jun 20, 2011 8:37pm
I'm looking at the EUR/USD H4 Chart, and do some homework

But I'm confused what to do next.


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Try to understand English Try to understand Forex
  • #96,976
  • Jun 20, 2011 9:29pm Jun 20, 2011 9:29pm
Quoting Activer
I'm looking at the EUR/USD H4 Chart, and do some homework

But I'm confused what to do next.
Nothing at all wrong with waiting...EURO is pretty much sideways for the most part I'm personally hoping to see the 1.4500 area reached in the next day or so.
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  • #96,977
  • Edited 9:51pm Jun 20, 2011 9:39pm | Edited 9:51pm
Quoting Activer
I'm looking at the EUR/USD H4 Chart, and do some homework

But I'm confused what to do next.


[ATTACH]724807[/ATTA]

If you're confused, the best thing to do is nothing. There will be more obvious opportunity down the line.
Many choose unhappiness over uncertainty.
  • #96,978
  • Jun 20, 2011 9:40pm Jun 20, 2011 9:40pm
Almost stopped out at BE.

There was only 0.01 left in it anyway so, it is no big deal.
Could have gone the other way, it just didn't.
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  • #96,979
  • Jun 20, 2011 9:43pm Jun 20, 2011 9:43pm
Quoting Dan Gilbert
If you're confused, the best thing to do is nothing. There will more obvious opportunity down the line.
I saw you down there DG...you in the daily I4B on EC?
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  • #96,980
  • Jun 20, 2011 9:49pm Jun 20, 2011 9:49pm
Quoting Donkey
I saw you down there DG...you in the daily I4B on EC?

Actually I'm not.... I saw it but I already have a position, and it's not at B/E yet... so my open position is all I have going right now (shorted the daily I4B straddling 8500 on USD/CHF). I don't open multiple positions without being at B/E on at least one. Correlation is too risky to take two losses at the same time.
Many choose unhappiness over uncertainty.
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