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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

  • #102,121
  • Sep 22, 2011 1:03pm Sep 22, 2011 1:03pm
AINT THAT A PRETTY CHART!!!!

Get a piece of paper, a pencil and a cold glass of iced tea or your beverage of choice.

Dedicate 2 hours of chart time and go back 2 or 3 years on every pair.

move forward and look for these set ups.

give yourself an entry and stop window of say 30 or 40 pips around the 365/150 ema WHEN THEY OVERLAY A BIG ROUND NUMBER. (pivot)

On your paper make two columns. one win and one loss.

You will like the results. i know because i did this exercise many many years ago.

The key to actually tading them with success is very simple. some time and practice.





Quoting dmc
Was sleeping during this one.

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  • #102,122
  • Sep 22, 2011 1:32pm Sep 22, 2011 1:32pm
Quoting stark1
I honestly think I've cracked that one. Hey, what goes up must come down, right? Best to sit back and plan where it's likely to bounce..

It takes a brave/wise man to bail at times like this, so good for you my friend - you'll sleep easier!

Right there with you partner. I used to have an issue with it. Days with very large movements are a little more difficult to stomach, but not by much. Each and every time that I come across them they become easier. The thing that I have begun to ask myself is, "Will I remember this 20 years and a 1,000 trades from now?". So long as there is not a strong lesson in the trade the answer is usually no.

Ryan
  • #102,123
  • Sep 22, 2011 1:33pm Sep 22, 2011 1:33pm
Quoting james16
AINT THAT A PRETTY CHART!!!!

Get a piece of paper, a pencil and a cold glass of iced tea or your beverage of choice.

Dedicate 2 hours of chart time and go back 2 or 3 years on every pair.

move forward and look for these set ups.

give yourself an entry and stop window of say 30 or 40 pips around the 365/150 ema WHEN THEY OVERLAY A BIG ROUND NUMBER. (pivot)

On your paper make two columns. one win and one loss.

You will like the results. i know because i did this exercise many many years ago.

The key to actually tading them with...
umm...you mean...err...ahem...something like this?


()

150 + 50 fib + 1.75 + PPZ.

g.
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I believe . . .
  • #102,124
  • Sep 22, 2011 3:32pm Sep 22, 2011 3:32pm
On long term,this would be interesting to watch.
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Nothing personal,just business
  • #102,125
  • Sep 22, 2011 3:50pm Sep 22, 2011 3:50pm
look at action in '08(aug - oct).

copy & paste is what made this great society...
  • #102,126
  • Sep 22, 2011 4:34pm Sep 22, 2011 4:34pm
Hey all, just a quick refresh for me if ya don't mind...

When looking for a DBH, or TBH what is the pip difference that you allow on 4H, monthly,weekly and daily time frames for it to still be considered a valid set up?

For example, on a 4H T/F it may be 2 pips difference in bar high to be considered valid...

Thank you
I live in a pineapple under the sea.
  • #102,127
  • Sep 22, 2011 4:47pm Sep 22, 2011 4:47pm
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4H, EURJPY, possible DBH 6 pips difference.
I live in a pineapple under the sea.
  • #102,128
  • Edited 5:32pm Sep 22, 2011 5:13pm | Edited 5:32pm
personally, I always look at a setup from the volatility point of view. Scale with volatility - don't keep fix ratios. Longer bars, longer buffers.

at the size of those bars, 6 pips is... "let's hope for a setup"(imho - the setup could perfectly well hold and a relief rally take place - who knows). Otherwise, in 2000, 103 acted as support on weekly.

But it dropped 300 pips.. 6 - 300... umm?

anyway, for a double low higher high, I'd look at it to be obviously higher. Strikingly - so everyone can see it and buy it. I won't move the market alone. Say, at a ~80 atr(current on e/j) I'd like a 50+ difference between tops(or bottoms if the situation would be reversed).

how are markets moved? By ppl. who pull in the same direction - so they should see the same thing in order to be "signaled" so they can start pulling in the same direction. See, not measure with the caliper.
  • #102,129
  • Sep 22, 2011 6:17pm Sep 22, 2011 6:17pm
Hey everybody,

Thanks to encouragement from Donkey, I decided to exit lurker mode to post this demo trade which utilized Jarroo's PBT&CAorB method.

Here's what I wrote in my original PM to Donkey:

"I was extremely late to the USDSGD party, but I managed to get a sloppy entry off of the Weekly LCS which was at 1.2850.

My actual entry for two positions was at 1.2872 and 1.2874 because I just entered market buy orders when I saw price respecting the LCS as support while I was scanning through one hour charts. Otherwise, a buy limit order a few pips above the LCS would have been much better.

Anyway, all of that is to say in agreement with you that Jarroo's PBT&CAorB HCR and LCS method really works!"
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"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #102,130
  • Sep 22, 2011 7:16pm Sep 22, 2011 7:16pm
Quoting shephrd
Hey everybody,

Thanks to encouragement from Donkey, I decided to exit lurker mode to post this demo trade which utilized Jarroo's PBT&CAorB method.

Here's what I wrote in my original PM to Donkey:

"I was extremely late to the USDSGD party, but I managed to get a sloppy entry off of the Weekly LCS which was at 1.2850.

My actual entry for two positions was at 1.2872 and 1.2874 because I just entered market buy orders when I saw price respecting the LCS as support while I was scanning through one hour charts. Otherwise, a buy limit order a...
Jarroo would be proud
  • #102,131
  • Sep 22, 2011 7:33pm Sep 22, 2011 7:33pm
Quoting ghous
umm...you mean...err...ahem...something like this?


()

150 + 50 fib + 1.75 + PPZ.

g.

Nice one...Hey if we use paper, we can then turn the chart upside down and go short. LOL

Only joking, I fully understand what Jim was saying.
  • #102,132
  • Sep 22, 2011 7:47pm Sep 22, 2011 7:47pm
Marked this one up yesterday. Checked it today.

I don't trade commodities but take a look.

The two charts I posted today would make anyone's month.

Trouble zones = points along the lower trend line

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  • #102,133
  • Sep 22, 2011 8:31pm Sep 22, 2011 8:31pm
Took my first pinbar trade. I think my entry was good. We'll see what happens...

AUDCAD H1

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  • #102,134
  • Sep 22, 2011 11:07pm Sep 22, 2011 11:07pm
Quoting vbmark
Took my first pinbar trade. I think my entry was good. We'll see what happens...

AUDCAD H1

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Hey VB

I put some comments on a chart for you

Best
Mike
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  • #102,135
  • Sep 23, 2011 2:04am Sep 23, 2011 2:04am
Quoting Greenhaze
Time for some dollar weakness? ... Price at strong weekly support on majors, supported by lower band on the S&P and Dow channel. I am in with tight stop.... lets see how that will work out.
Some profits taken and stop moved to BE. 1.5650 on GU would be nice.
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  • #102,136
  • Sep 23, 2011 2:15am Sep 23, 2011 2:15am
Quoting Greenhaze
Some profits taken and stop moved to BE. 1.5650 on GU would be nice.
nice one, Sir GH. so u did get in as i expected.
  • #102,137
  • Sep 23, 2011 2:26am Sep 23, 2011 2:26am
Quoting dmc
Marked this one up yesterday. Checked it today.

I don't trade commodities but take a look.

The two charts I posted today would make anyone's month.

Trouble zones = points along the lower trend line

Attachment
Brent and WTI are my two favourite instruments, I've been trading those two since I started trading nine months ago. I had been watching both closely yesterday as they appeared very bearish, I decided on a short into Brent after price broke through 108.50 and then found resistance at the same point, I managed to take 158 pips out of it however I do admit to zooming in to M5 for my entry and exit points, old habits die hard, I promise to try harder, apologies

The fantastic thing, for me anyway, was that, based on what I've learned on this thread, I'd put my PPZ areas in and my lowest one was at 105.00, I was partying when I saw it hit that area, bounce and then go on to find solid support as it showed me that I'm learning, BIG thanks go to Jim, Mike and all of the seniors

PS, I hope my chart looks a bit better now PB
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  • #102,138
  • Sep 23, 2011 2:49am Sep 23, 2011 2:49am
Quoting stochman
Brent and WTI are my two favourite instruments...
The fantastic thing, for me anyway, was that, based on what I've learned on this thread, I'd put my PPZ areas in and my lowest one was at 105.00, I was partying when I saw it hit that area, bounce and then go on to find solid support as it showed me that I'm learning,
nice trade, Sir stochman.
just remember, the PPZs we plot wont always hold as "(solid) S/R" but the important thing is u have a plan & u know what & where to expect something.

please keep the charts coming!
  • #102,139
  • Sep 23, 2011 4:22am Sep 23, 2011 4:22am
Quoting supremeChaos
nice one, Sir GH. so u did get in as i expected.

Lol @ Sir well... i must be too predictive then. It would be nice to get dblhc on daily. Someone could push that damn thing higher then
  • #102,140
  • Sep 23, 2011 4:55am Sep 23, 2011 4:55am
got spoofed out after the FT story spike(was the 3rd time it tried on 1.54 and I moved to be which was .5345 since I waited at .533 for confirmation and didn't catch it anymore). Guess I never trusted the trade too much.

that being said, 1.565 sure looks ambitious. It's friday; higher chances to be stopped out then go up imo. But then, I'm biased - long usd to the hilt, but still tryin' to catch some counter trends too, though I know very well I'm poor at trying to play both edges when I have strong bias...
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