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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

  • #103,381
  • Edited 9:02am Oct 21, 2011 8:31am | Edited 9:02am
Quoting Pinbar
Just watching the consolidation buildup on M15.

Seems to suggest a higher rally.
Since PBT&CA on the 4 Hour at the Daily LCS level, its a vaild entry long at the 1.5905 . .although I would have liked to have seen a better build or other confluences supporting that level . .but its valid ..

Price failed to act as Resistance at the Daily LCS level, so now its reverting back to Support . .at least on the 4 hour TF for now.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,382
  • Oct 21, 2011 8:34am Oct 21, 2011 8:34am
Quoting jarroo
Since PBT&CA on the 4 Hour of this Daily LCS level its a vaild entry long at the 1.5905 . .although I would have liked to have seen a better build or other confluences supporting that level . .but its valid ..

Price failed to act as Resistance from the LCS so now its reverting back to Support . .at least on the 4 hour TF for now.

I wonder why our charts match up. LOL
You know why.
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  • #103,383
  • Oct 21, 2011 8:35am Oct 21, 2011 8:35am
USD index has been falling. Stocks rising. Risk on in the US

Quoting picon1
Yeah I've just been looking at this PB. Also looking at the other GBP crosses and the news to see if there was an explanation as to why the sudden action.

I can't find anything on the calendar to suggest anything. Any ideas?

Also I PM'd you yesterday PB. You get it?
  • #103,384
  • Oct 21, 2011 8:37am Oct 21, 2011 8:37am
Quoting Donkey
Are you looking at 1.5962/3 area? I see a wkly hcr from Aug 2010 lining up almost to the pip with LCS from Jun 2011. Add in Pinbar's 365 and a 50 retracement that's there.....I think you guys are onto something.
Yes exactly . .I'm sure the Aug 2010 HCR level had something to do (not all) with forming the June 2011 LCS and the other Weekly Lows ..


You got to love those confluences, D . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,385
  • Oct 21, 2011 8:39am Oct 21, 2011 8:39am
Quoting Pinbar
I wonder why our charts match up. LOL
You know why.
Well . .that may not line up exactly . .you're on IBFX and I'm on Fx Pro . .different Closes. .. but the areas are right on . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,386
  • Oct 21, 2011 8:41am Oct 21, 2011 8:41am
Quoting jarroo
Well . .that may not line up exactly . .you're on IBFX and I'm on Fx Pro . .different Closes. , ,but the areas are right on . .

I think Donkey just Rumbled us. LOL

That is a British expression.
  • #103,387
  • Oct 21, 2011 8:55am Oct 21, 2011 8:55am
Quoting Pinbar
I think Donkey just Rumbled us. LOL

That is a British expression.
Here's one for you Pb, . . Eur/Chf Weekly /Monthly LCS . .PBT&CB . .Bam!! . .(KaBoom!, is already taken . .)
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Indicators show the past. Price Action "Indicates" the future.
  • #103,388
  • Oct 21, 2011 9:00am Oct 21, 2011 9:00am
I'm still trying to work this PPZ stuff into my routine. I've started on the monthly chart this time like PB recommended to me. Only put the monthly PPZ on the chart, and moved down to the weekly to see what they look like.

Then I'm going to expand them on the daily chart into actual zones or areas.

GBPUSD MONTHLY

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GBPUSD WEEKLY

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How they looking?
  • #103,389
  • Edited 9:16am Oct 21, 2011 9:04am | Edited 9:16am
Quoting picon1
I'm still trying to work this PPZ stuff into my routine. I've started on the monthly chart this time like PB recommended to me. Only put the monthly PPZ on the chart, and moved down to the weekly to see what they look like.

Then I'm going to expand them on the daily chart into actual zones or areas.

GBPUSD MONTHLY

Attachment

GBPUSD WEEKLY

Attachment

How they looking?

They look really good - clear flips of support and resistance.

Two things I would point out are:

Just to remember they are zones and not just lines, so they are almost never exact.

Secondly localizing or "pinning" them to a round number also may make things easier for you. A few of these are around round numbers, but don't force it to fit if it doesn't, just a tip that may make it easier.

Looking good though
  • #103,390
  • Oct 21, 2011 9:09am Oct 21, 2011 9:09am
Quoting dmc
The look really good clear flips of support and resistance.

2 things I would point out are

Just to remember they are zone and not just lines so they are alsmot never exact.

secondly localizing or pinning them to a round number also may make things easier for you. A few of these are around round numbers but don't force it to fit if it doesn't, just a tip that may make it easier.

Looking good though
Cheers DMC. Yeah Mike was mentioning to me a couple of days ago about the zones instead of just a line. I was going to id these levels off teh monthly then when I get down the daily and start drawing the zones on around the lines.

The zones will clean my chart up rather than having a mass of lines as I drop down the TFs
  • #103,391
  • Oct 21, 2011 12:04pm Oct 21, 2011 12:04pm
Quoting mbqb11
I know a bunch of us are in this in the PF been following for awhile. I wonder if anyone here followed this one.


Nice big buob right where we want it.
update before the weekend

Price used our first area as support when it broke through. Bounced at area 2(second blue line), now approached top of the pattern and it would be more then fine closing this out now. Gonna see how it develops though myself


Have a nice weekend all

Mike
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  • #103,392
  • Oct 21, 2011 2:27pm Oct 21, 2011 2:27pm
Quoting mbqb11
update before the weekend

Price used our first area as support when it broke through. Bounced at area 2(second blue line), now approached top of the pattern and it would be more then fine closing this out now. Gonna see how it develops though myself


Have a nice weekend all

Mike
Hi Mike, nice trade...pls allow me to add just a different perspective as
confluence.
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Nothing personal,just business
  • #103,393
  • Oct 21, 2011 2:30pm Oct 21, 2011 2:30pm
Quoting fxgroup
Hi Mike, nice trade...pls allow me to add just a different perspective as
confluence.
yep the 2.000 BRN is going to be a PPZ as a lot of the BRNs are. That's why I love them and certainly that PPZ is great confluence and another reason I used as well

Best
Mike
  • #103,394
  • Oct 21, 2011 6:47pm Oct 21, 2011 6:47pm
Quoting jarroo
Here's one for you Pb, . . Eur/Chf Weekly /Monthly LCS . .PBT&CB . .Bam!! . .(KaBoom!, is already taken . .)


Yeah, that one gave me a bit of trouble as I could not find a monthly level around there, then I found the weekly level. I like the TL also.
However, my feed is slightly different and it was at 1.24478.

Whats a tenth of a pip between friends. LOL

EDIT: Has price found itself back in the channel and behaving itself, or is it going to go down to the mid area and breakout?
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  • #103,395
  • Oct 21, 2011 7:13pm Oct 21, 2011 7:13pm
Here is another one I was watching.
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  • #103,396
  • Oct 21, 2011 7:16pm Oct 21, 2011 7:16pm
Quoting mbqb11
I know a bunch of us are in this in the PF been following for awhile. I wonder if anyone here followed this one.


Nice big buob right where we want it.
Hi Mike..
for about 2 or 3 seconds..the sentence you wrote,

"Nice big buob right where we want it."

i read as " Nice big boob right ....."

Yes i was reading without my glasses.... !!
BUT
and getting old to boot as well..
just a bit of fun

take care and have a great w/e

baz
  • #103,397
  • Edited 7:29pm Oct 21, 2011 7:16pm | Edited 7:29pm
Quoting picon1
I'm still trying to work this PPZ stuff into my routine. I've started on the monthly chart this time like PB recommended to me. Only put the monthly PPZ on the chart, and moved down to the weekly to see what they look like.

Then I'm going to expand them on the daily chart into actual zones or areas.

GBPUSD MONTHLY

Attachment

GBPUSD WEEKLY

Attachment

How they looking?

Looking good.
A lot of people including myself, end up with a birdcage when first drawing PPZ, this prevents that.

DMC has good advice about not curve fitting a PPZ to a RN by force.
That is why I use the RN indicator, so I am still aware of the RN but do not have to force the PPZ to them.

Good Job

Hey Picon, where in the UK are you from, I am from Macclesfield, Oh so many moons ago.
  • #103,398
  • Oct 21, 2011 7:37pm Oct 21, 2011 7:37pm
Looks like GU is going to hit the 365 & 150 all bunched up there around the PPZ.

Looks like a powerful move up, are we going to get a PBT&CA?
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  • #103,399
  • Oct 21, 2011 8:20pm Oct 21, 2011 8:20pm
Quoting baz
Hi Mike..
for about 2 or 3 seconds..the sentence you wrote,

"Nice big buob right where we want it."

i read as " Nice big boob right ....."

Yes i was reading without my glasses.... !!
BUT
and getting old to boot as well..
just a bit of fun

take care and have a great w/e

baz
hahahah that cracked me up man!

Have a great weekend too

Mike
  • #103,400
  • Oct 22, 2011 1:48am Oct 22, 2011 1:48am
sap on weekly.
approaching resistance zone at about 43 eur.
trendline + fib + former s/r
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meine augen sind die sterne
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