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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

  • #98,761
  • Jul 18, 2011 2:25pm Jul 18, 2011 2:25pm
Quoting halfstep
Hi, I read a post that was written awhile back by jarroo that says to have pre-drawn levels on your charts, and wait for price action to manifest on these levels. the problem is, there are so many pivot levels, if I wanted to, I can use a daily chart or a H4 chart, and draw 10+ lines on my chart, and have levels of pivot every couple of 100 Pips, this often makes me think that ANY TRADES would have no space to run.

how do you guys take care of this problem? jarroo? how many pre-drawn pivot levels do you have on your charts? sometimes, I feel...
Quoting g_j_hook@yah
yeah this is a problem most people encounter at 1 time or another. i think the answer lies in the prioratization of the levels. there may be many Minor levels you can draw on your chart but not so many major ones. Usually the strongest show up on the higher TFs, and as you go down the TFs they tend to be more intraday levels.(good for helping with trade management but not good for taking trades from) This is also a big generalization though. Remember that although you can see a level on your chart doesnt necessarily mean you want to be trading from...


Hey halfstep . . this post from jon is great . .I couldn't have said it better . great post jon-o . . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,762
  • Jul 18, 2011 2:25pm Jul 18, 2011 2:25pm
h4 pinbar on silver. plus 61.80 fib extension. only interested if it falls below 40 usd. and then with very tight sl cuz of the major (aka monster) uptrend.
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meine augen sind die sterne
  • #98,763
  • Jul 18, 2011 2:33pm Jul 18, 2011 2:33pm
Quoting jarroo
Hey halfstep . . this post from jon is great . .I could have said it better . great post jon-o . . .
thanx Jarroo, a compliment from you is a compliment indead! i see this posted often enough to have tried to answer it in a little detail.

cheers


jon


p.s. i hope you meant to say you "could not have answered it better".. lol (though i doubt that my friend)
PATIENCE... DISCIPLINE
  • #98,764
  • Jul 18, 2011 2:36pm Jul 18, 2011 2:36pm
Quoting g_j_hook@yah
thanx Jarroo, a compliment from you is a compliment indead! i see this posted often enough to have tried to answer it in a little detail.

cheers


jon


p.s. i hope you meant to say you "could not have answered it better".. lol (though i doubt that my friend)

ooops . .. sorry jon. .I edited my post . .I'm all thumbs . . .. .
Indicators show the past. Price Action "Indicates" the future.
  • #98,765
  • Jul 18, 2011 2:40pm Jul 18, 2011 2:40pm
Quoting g_j_hook@yah
thanx Jarroo, a compliment from you is a compliment indeed!
Hi Jon,

Something I think you may already have your eye on? PBT&CB, now we have an IB below the PPZ.

Tomek

Edit: 'Potentially' IB, yet to close.
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  • #98,766
  • Jul 18, 2011 2:45pm Jul 18, 2011 2:45pm
Quoting jarroo
Excellent, T!!! . . . . . ..No way would I take a full bar loss . .stop loss probably under the previous bar weekly Low . . . very tradable PB. .
Looks like the daily PPZ is holding up. Price could not close below... are we surprised? Weekly PB is still in play.

T
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  • #98,767
  • Jul 18, 2011 2:51pm Jul 18, 2011 2:51pm
Quoting 5.25
Hi Jon,

Something I think you may already have your eye on? PBT&CB, now we have an IB below the PPZ.

Tomek

Edit: 'Potentially' IB, yet to close.

Nice one T . . very valid to use PBT&CB on a PPZ level . .previous Support level of a PPZ level turning into Resistance .. nice.


I tend to go for the LCS (HCR) level .This Daily LCS lines up with a Daily Low . .nice added strength.
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Indicators show the past. Price Action "Indicates" the future.
  • #98,768
  • Jul 18, 2011 2:56pm Jul 18, 2011 2:56pm
Quoting 5.25
Looks like the daily PPZ is holding up. Price could not close below... are we surprised? Weekly PB is still in play.

T

You're a quick study, T . ..
Indicators show the past. Price Action "Indicates" the future.
  • #98,769
  • Jul 18, 2011 3:01pm Jul 18, 2011 3:01pm
Quoting 5.25
Hi Jon,

Something I think you may already have your eye on? PBT&CB, now we have an IB below the PPZ.

Tomek

Edit: 'Potentially' IB, yet to close.
to be honest this is not for me. i have a pretty good level at that price and i think it is what stalled the swing down. i would rather look for a break and retest play here.

jon
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PATIENCE... DISCIPLINE
  • #98,770
  • Jul 18, 2011 3:01pm Jul 18, 2011 3:01pm
is this a pinbar formed on eurusd showing a possible entry?
  • #98,771
  • Jul 18, 2011 3:02pm Jul 18, 2011 3:02pm
Quoting jarroo
You're a quick study, T . ..
Put the time in . See what happens when you take your eyes off the thread and onto the PF?
  • #98,772
  • Jul 18, 2011 3:03pm Jul 18, 2011 3:03pm
Quoting AvanishDemo
GBPJPY:
Price has now CB 1.27 with a late NY session BEOB on H4.
i would like to see furthur push tommorow..
so far i hav reduced my risk..bt still keepin the exposure for price to move..
still lot to do for the price to move till the destination..
lets see..so far trade is +ve
curiously watching..




i was thinking to enter this AUDCHF trade instead of GJ as it ws providing tighter SL..but todays opening was "way down" which i could not find it comfortable(FxPro Feed)

Your GJ 4 Hour PBT&CB looks interesting, AD . . The clearer the level looks the better they perform . .should be fun to watch . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,773
  • Jul 18, 2011 3:08pm Jul 18, 2011 3:08pm
Quoting fx trader-
Thanks jaroo appreciation from u means a lot . i was just wondering people here dont trade the systems on smaller timeframes ? surprised they work a lot i mean very much but hardly someone posts here except for daily or h4 .

Do people on the paid forum of j16 use lower TF or not at all?

regards,
kunal

That was a great setup on the Euro . .right out of Mike's textbook . .a whole lot of other stories going on . .on that one . .

As Mike had said, learning on the higher TFs is the best why to go . .if you can't do it on the higher TFs .you're really are going to have problems on the lower TFs .

But if I do enter into the lower time frames, I most always bring the Higher TF levels with me ..
Indicators show the past. Price Action "Indicates" the future.
  • #98,774
  • Jul 18, 2011 3:09pm Jul 18, 2011 3:09pm
Quoting deankenny21
is this a pinbar formed on eurusd showing a possible entry?
if we get that gap closed it will look nice...??? i prsonally dont see it dropping much further in any case. a close above the RN and todays open will be a possitive sign imho..


jon
PATIENCE... DISCIPLINE
  • #98,775
  • Jul 18, 2011 3:16pm Jul 18, 2011 3:16pm
Quoting 5.25
Put the time in . See what happens when you take your eyes off the thread and onto the PF?

lol . .trust me . .it all started here on this Thread . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,776
  • Jul 18, 2011 3:18pm Jul 18, 2011 3:18pm
Quoting g_j_hook@yah
i like this one, a nice bar(size and close) coming off a good level with a nose that tests the ground above. closes below the level and RN confluence. I like the previous bar also which shows some exhaustion of that move up and the resilience of that RN PPZ. not a swing high though and is in a box rather than a swing so not one to expect too much from imho. not the best time of day either...FTAs .9577 and .9565
nice...lets see what happens

i like the way the eu/gb is shaping up also

jon
There's a bit of space if it can break the bar low of the previous bar. PA seems to be weak maybe because it's the end of NY session. I'm going to sit this one out and watch for now.

EURGBP had a sweet run today. Beautiful PB on 4hr feed from Tadawul FX. EUR pairs all making back some ground after last weeks blood bath. Can it last?
  • #98,777
  • Jul 18, 2011 3:21pm Jul 18, 2011 3:21pm
Quoting g_j_hook@yah
if we get that gap closed it will look nice...??? i prsonally dont see it dropping much further in any case. a close above the RN and todays open will be a possitive sign imho..


jon
It looks like the support is holding for now but personally i stir away from this pair for now. It is a bad news ping-pong between US and EU at this time. Too much informational chaos and fake moves imho.
  • #98,778
  • Jul 18, 2011 3:25pm Jul 18, 2011 3:25pm
I mean could be so too, very much possible...
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  • #98,779
  • Jul 18, 2011 3:30pm Jul 18, 2011 3:30pm
Quoting g_j_hook@yah
to be honest this is not for me. i have a pretty good level at that price and i think it is what stalled the swing down. i would rather look for a break and retest play here.

jon
You'll have to admitt that Price retaced to that PPZ level . .almost to the pip . .when PBT&CB . . you couldn't make that PPZ level any tighter . .
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Indicators show the past. Price Action "Indicates" the future.
  • #98,780
  • Jul 18, 2011 3:30pm Jul 18, 2011 3:30pm
Quoting Adilius07
I mean could be so too, very much possible...
just some of my thoughts,

not to discourage anyone of course

Best
Mike
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