DislikedThank you for the warm welcome and fantastic analysis, your in great shape guys.
Easy for someone new to understand and learn from. Will keep me eyes open for more potential trades and post more charts.
Good trading
SteveIgnored
Ryan
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThank you for the warm welcome and fantastic analysis, your in great shape guys.
Easy for someone new to understand and learn from. Will keep me eyes open for more potential trades and post more charts.
Good trading
SteveIgnored
DislikedWe trade charted PA. There is nothing on this chart to even begin to speculate about a top with. Honestly I don't even care about tops and bottoms any more. They just cloud my decision making ability by requiring me to carry a personal bias. That is not what J16 is about as I see it. I ignore MY bias because it is MINE, NOT the markets. I try to keep my head clear and reading the charts in a very objective way. Once there is one hell of a PA signal I might begin to think about where price is going. Until then I will sit and wait.
RyanIgnored
DislikedRoll with it friend. Put my thoughts on the chart that you posted. Let me know if anything I said is unclear.
Ryan
AttachmentIgnored
Dislikedyo but recheck your ascending trendline....doesnt look pretty accurate = leads to fails in placing tradesIgnored
Dislikedit's a 50 degree trendline... during a 500 pips move on H4. Way, way to steep; it's a miracle it lasted so long...
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DislikedLesson of the day for any beginners "Must not ignore Big Round Numbers" (See chart)
My trade for the day: Daily bias on the eurusd, (BEOB), 1h PB for PA entry, off 1.4400BRN.
Note to self: Trying to build a 'winning' psychology. As it's friday tomorrow, if there is no strong setup, I'm happy to stay on the sidelines. Start monday on a positive note coming off of a positive week.Ignored
DislikedHello,
I just finished watching one of James' free videos and I have a question I hope someone can answer. In the screenshot I would have taken a short on the bar with the yellow arrow I added.
I would have gone short because of the previous double bar high with lower close. But that would have been a bad trade.
Is there a way I could have known not to take that? How would I have known?
Attachment
Thanks!!Ignored
DislikedHello,
I just finished watching one of James' free videos and I have a question I hope someone can answer. In the screenshot I would have taken a short on the bar with the yellow arrow I added.
I would have gone short because of the previous double bar high with lower close. But that would have been a bad trade.
Is there a way I could have known not to take that? How would I have known?
Attachment
Thanks!!Ignored
DislikedMaybe I don't understand but the bar I am pointing to broke through the resistance which I though meant you were good to go.Ignored
DislikedMaybe I don't understand but the bar I am pointing to broke through the resistance which I though meant you were good to go.Ignored
DislikedMaybe I don't understand but the bar I am pointing to broke through the resistance which I though meant you were good to go.Ignored
DislikedHey vbmark . . This setup hit its target nicely, that High (in green) that you are calling Resistance . .but what was below or beyond that High? . more levels of previous Resistance or other Highs . .many more of them (in blue).
Also, we understand that when Price breaks through and closes above a strong level of Resistance it will most likely turn into a Support Level. . . and this is what happen . .Strong Resistance turning into strong Support. .to say the least . .that was some bounce . . lol
JimIgnored
DislikedHey vbmark . . This setup hit its target nicely . . that High (in green) that you are calling Resistance . .but what was below or beyond that High? . more levels of previous Resistance or other Highs . .many more of them.
Also, we understand that when Price breaks through and closes above a strong level of Resistance it will most likely turn into a Support Level. . . and this is what happen . .Strong Resistance turning into strong Support. .to say the least . .that was some bounce . . lol
JimIgnored
DislikedHello,
I just finished watching one of James' free videos and I have a question I hope someone can answer. In the screenshot I would have taken a short on the bar with the yellow arrow I added.
I would have gone short because of the previous double bar high with lower close. But that would have been a bad trade.
Is there a way I could have known not to take that? How would I have known?
Attached Image![]()
Thanks!!Ignored
DislikedHello,
Is there a way I could have known not to take that? How would I have known?
Thanks!!Ignored
DislikedExactly.
Strong areas of generalized S/R are also refered to as a Price Pivot Zone (PPZ). It is more a general area of S/R than a specific number. I would say that the area in the graph above looks more like a PPZ than just S/R.Ignored
DislikedThis is true gungriffin . . .But at any given time a PPZ level is either acting as Support or Resistance, not both at the same time.
That's why I like to break down the PPZ level to what it is currently acting as . .either Support or Resistance.
Prior to PBT&CA, this PPZ level was acting as Resistance. . .I also define my Resistance level (and Support levels) not only by their Highs but also their Highest Close of that Resistance level. (or Lowest Close of Support level)
We can see that once PBT&CA the Resistance level the transition to Support...Ignored
Dislikedvb...I had that same thought not so long ago...how do you know? What really helped me was finding a way to demo that J16 teaches....where is price going (wipg). I think a lot of folks have used it. You basically pick a PA bar and predict where price goes if it will break....identifying the first place it will have trouble. I did it for several months and it builds tremendous confidence. I would pick a first area and a second area and kept stats on how I did. I picked PA bars of all sorts in good locations, bad locations, stuff I wouldn't trade and...Ignored
DislikedExcellent description. Ha ha I hope to one day be as good at putting my thoughts into words as you are. That is a much better description than I could give. Thank you for clarifying my former post (even to me a bit
) Also I did not see your post number 99496 when I posted my first comment. That was also a better explaination of PPZ...
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