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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

  • #101,961
  • Sep 20, 2011 1:13pm Sep 20, 2011 1:13pm
rather exotic pair aud/sgd coming into a major ppz with fib, s/r, brn and ema.
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meine augen sind die sterne
  • #101,962
  • Sep 20, 2011 1:34pm Sep 20, 2011 1:34pm
Quoting aserbfx
rather exotic pair aud/sgd coming into a major ppz with fib, s/r, brn and ema.
adding pinbar on usd/sgd. no confluence here and ration pinbar/previous bar rather bad. big downtrend. setup will work.
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meine augen sind die sterne
  • #101,963
  • Sep 20, 2011 2:39pm Sep 20, 2011 2:39pm
Quoting Pinbar
Yeah, you got it.

But, the close of a BUEOB or BEOB should be in the last third of the bar.

Gives it more momentum.

Definitely agreed.

Additionally I prefer to see the close of the BUOB higher than the close of the engulfed bar, and the more bars that are engulfed the better.

Ryan
  • #101,964
  • Sep 20, 2011 2:55pm Sep 20, 2011 2:55pm
its very important for those just starting out to not get confused. that would be a shame since what we do here is as simple as trading gets. pivot zones at round numbers are the only ones you should pay attention to. in addition to that we want to have confluence. the result if we are patient is a set up that allows us a great chance at success and if wrong also allowed us a very small stop. here is a chart example. this has no bar pa. this is simply using confluence with support and resistance. aka pivot zones.

Quoting HiArt
Just for clarity, and utter noobie question

I (think) I understand what PPZs are and how to identify them. The problem I currently have is I often have so many lines that it almost impossible to enter a trade without a PPZ close. So, I know I have misunderstood the term "zone" and have to tidy my charts up a bit. This is all down to practice and my learning curve. No problem with this, with practice I'll get good at this.

I am OK with this, but I read on here "major" PPZ and "minor" PPZ; I hope that someone can explain the difference....
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  • #101,965
  • Sep 20, 2011 3:00pm Sep 20, 2011 3:00pm
2-Day PB with opportunity to enter on retrace with almost no DD.
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  • #101,966
  • Sep 20, 2011 3:08pm Sep 20, 2011 3:08pm
Double Top failing twice at former support around 78.75. How viable would a sell stop below today's bar be?

Thanks,
dkc
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  • #101,967
  • Sep 20, 2011 3:15pm Sep 20, 2011 3:15pm
very nice green.

jim

Quoting Greenhaze
2-Day PB with opportunity to enter on retrace with almost no DD.
  • #101,968
  • Sep 20, 2011 5:42pm Sep 20, 2011 5:42pm
Quoting Greenhaze
2-Day PB with opportunity to enter on retrace with almost no DD.

2-Day (2-Week) PBs rule . . . ..

. .of course, being at a proper Swing High/ Swing Low location doesn't hurt . . .

Nice GH.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #101,969
  • Sep 20, 2011 5:47pm Sep 20, 2011 5:47pm
Quoting Pinbar
Sure, this may not be an A+ for some but, it is close for sure.

0.69100 RN, 61.8 fibo + PPZ

Trying to find a real A+ one but, I have to run. will post one later if nobody else has.
Nice chart Pb . .you gotta love that added long term MA confluence. . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #101,970
  • Sep 20, 2011 6:08pm Sep 20, 2011 6:08pm
Quoting Greenhaze
2-Day PB with opportunity to enter on retrace with almost no DD.
Hi Green,
Did you actually enter the long trade. Requires a lot of guts to go long against the recent down push.

Cheers
Novice198
  • #101,971
  • Sep 20, 2011 6:20pm Sep 20, 2011 6:20pm
Quoting james16
its very important for those just starting out to not get confused. that would be a shame since what we do here is as simple as trading gets. pivot zones at round numbers are the only ones you should pay attention to. in addition to that we want to have confluence. the result if we are patient is a set up that allows us a great chance at success and if wrong also allowed us a very small stop. here is a chart example. this has no bar pa. this is simply using confluence with support and resistance. aka pivot zones.
Hi James,
I am definitely confused. I see the pair moving up in the channel. PA is in the middle of the channel. No price action. PA could have moved up or down and it moved down. As regards small stops not sure how it helps. If we are position sizing, either on fixed percentage or fixed amt staked on a trade, a smaller SL would increase our postion size and if the trade goes against us then we are out with the full loss very quickly.

Yes I know, you are guy who makes money "consistently" and in the end that is what matters. However, the above statement, IMHO, will definetely confuse many.

Cheers
novice
  • #101,972
  • Sep 20, 2011 6:23pm Sep 20, 2011 6:23pm
Although this BEOB is not at a swing High (where we want them) and the clarity of the PPZ level could have been clearer . . .but the large size of the BEOB and the additional confluences on the 150 and 365 ema that clustered at this level made it a very easy trade to take ..

. .Yes, Price breaking through and closing below this level sure helped too . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #101,973
  • Sep 20, 2011 6:39pm Sep 20, 2011 6:39pm
Quoting novice198
Hi James,
I am definitely confused. I see the pair moving up in the channel. PA is in the middle of the channel. No price action. PA could have moved up or down and it moved down. As regards small stops not sure how it helps. If we are position sizing, either on fixed percentage or fixed amt staked on a trade, a smaller SL would increase our postion size and if the trade goes against us then we are out with the full loss very quickly.

Yes I know, you are guy who makes money "consistently" and in the end that is what matters. However, the above...
I reduce my risk greatly on touch trades. Because the ones that work make up for it greatly in the reward they tend to offer. For me currently live I trade my touches at .25% risk as compared to 2% risk on a PA bar which allows for more flexibility in reducing your risk. It may be something that helps you

Best
Mike
  • #101,974
  • Sep 20, 2011 7:00pm Sep 20, 2011 7:00pm
Quoting jarroo
Although this BEOB is not at a swing High (where we want them) and the clarity of the PPZ level could have been clearer . . .but the large size of the BEOB and the additional confluences on the 150 and 365 ema that clustered at this level made it a very easy trade to take ..

. .Yes, Price breaking through and closing below this level sure helped too . . .

Nothing escapes Jarroo's attention. LOL

I imagine you also took that one , Jarroo?
  • #101,975
  • Sep 20, 2011 7:12pm Sep 20, 2011 7:12pm
Quoting jarroo
Although this BEOB is not at a swing High (where we want them) and the clarity of the PPZ level could have been clearer . . .but the large size of the BEOB and the additional confluences on the 150 and 365 ema that clustered at this level made it a very easy trade to take ..

. .Yes, Price breaking through and closing below this level sure helped too . . .

I caught a little piece of that one.

http://www.forexfactory.com/showthre...02#post4944202
  • #101,976
  • Sep 20, 2011 7:28pm Sep 20, 2011 7:28pm
Quoting Donkey
I caught a little piece of that one.

http://www.forexfactory.com/showthre...02#post4944202
you crushed that one
  • #101,977
  • Sep 20, 2011 8:38pm Sep 20, 2011 8:38pm
Quoting aserbfx
adding pinbar on usd/sgd. no confluence here and ration pinbar/previous bar rather bad. big downtrend. setup will work.
Well, it did bounce off a previously tested PPZ at 1.2700 and the 365 EMA.

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  • #101,978
  • Sep 20, 2011 9:21pm Sep 20, 2011 9:21pm
Quoting fascist
Well, it did bounce off a previously tested PPZ at 1.2700 and the 365 EMA.

Attachment
I did a double take on this pinbar - nice wick, good close, so-so location. Interesting how price reacted almost to the pip of Jaroo's LCS back from March. In the end though this pin looks to me like a pause before going up.

I like the pin possibly to the 1.2500 area (HCR) - the area I'm currently going to watch PA for long entry.
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  • #101,979
  • Sep 20, 2011 11:42pm Sep 20, 2011 11:42pm
Quoting james16
its very important for those just starting out to not get confused. that would be a shame since what we do here is as simple as trading gets. pivot zones at round numbers are the only ones you should pay attention to. in addition to that we want to have confluence. the result if we are patient is a set up that allows us a great chance at success and if wrong also allowed us a very small stop. here is a chart example. this has no bar pa. this is simply using confluence with support and resistance. aka pivot zones.
I appologize, but I really don't understand what is so fantastic about this entry? Where is the setup? Trendline is not valid is weird and wrong to put it there. Fibo - if you draw it the other way around that would be shorting into great 50% fibo retracement SUPPORT. Where is the bar confirming strenght Pinbar, BEOB, TBHLC? Pivot at 6450??? what is so tremendous about it? Those pivots are all over...There is nothing fantastic about this setup. I don't think anyone could make a successful call in real time with a setup like that.

Putting an arrow on the chart with past price action and then adding confluence - that is not the way to learn, and certainly will not benefit us newbies.

http://www.forexfactory.com/attachme...1&d=1316548521
  • #101,980
  • Sep 20, 2011 11:57pm Sep 20, 2011 11:57pm
Quoting Adilius07
I appologize, but I really don't understand what is so fantastic about this entry? Where is the setup? Trendline is not valid is weird and wrong to put it there. Fibo - if you draw it the other way around that would be shorting into great 50% fibo retracement SUPPORT. Where is the bar confirming strenght Pinbar, BEOB, TBHLC? Pivot at 6450??? what is so tremendous about it? Those pivots are all over...There is nothing fantastic about this setup. I don't think anyone could make a successful call in real time with a setup like that.

[b]Putting an...
It's an example of a fantastic touch trade that can be traded by the more experienced. The goal of the example is to show one thing .. how strong confluence can be. Will it always work? No. But as j16 said, it is a very low risk trade especially on a daily time frame.

As for the bolded portion of your statement, I will have to disagree. A majority of his charts have been an arrow on a past price action...how else can he show it in real time without constantly updating? And a majority of us have benefited GREATLY from "arrow on chart with past price action." Remember, in the learning it's not about specifics but the general idea behind it and apply, apply, apply!
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