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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

  • #104,381
  • Nov 15, 2011 4:35am Nov 15, 2011 4:35am
Quoting jarroo
Hey Mike . .all we are doing is trading the on Daily, Weekly and even the Monthly . .it just that we are using the Lower TFs off these Higher TF levels . .isn't that the same thing as trading the Daily and Weekly TFs??

Just kidding with you Mike .. .lol Your point is indeed a crucial one. leaning the basics of what James16 and Mike teach here is the foundation of all of my trading . .just to speak for myself.

Trust me, the basics of PPZ levels, Location, Space, Confluence, Size (of PA), Swing Highs/Lows, etc . . .are...
I second that, even though I was the foul perpetrator

That is why, I just posted an H4 chart.
  • #104,382
  • Nov 15, 2011 4:36am Nov 15, 2011 4:36am
Quoting Pinbar
I second that, even though I was the foul perpetrator

That is why, I just posted an H4 chart.
I'm guilty of that as well . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,383
  • Nov 15, 2011 4:45am Nov 15, 2011 4:45am
Quoting jarroo
Interest how this Consolidaton area (in yellow) was formed . .don't you think? . .

These two LCS levels (in blue) made it.

Yeah, I hear you.

Too bad it just took off without having the courtesy to tell us on H4 or H1 where it was headed.

The blasted Bounder.

Still, it may give us a hint at 1.58001
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  • #104,384
  • Nov 15, 2011 4:49am Nov 15, 2011 4:49am
Quoting jarroo
I'm guilty of that as well . .

I will forgive you. LOL

I totally agree with Mike though.

Funny I was thinking about when I did trade M15 setups on M15 before you taught me how to trade the Monthly & Weekly S&R on M15. Scares the hell out of me just to recall it.

They are certainly not the same thing.

EDIT: Not that you actually said, trade them on M15.
  • #104,385
  • Edited 5:14am Nov 15, 2011 4:57am | Edited 5:14am
Quoting Pinbar
Probably better to take note of what is going on, on the higher time frames.
Especially the bar highs lining up with bar lows, this is what creates the PPZ and act as either support or resistance. Also, note the boxes of consolidation, where price has been stuck in for quite a while.
Also, if you are looking for a long setup, you need to draw the fibo from the bottom to the top of a SL to a SH.

Hope this helps.

Edit: Possibly, you could try zooming out on H4 and the Daily and it will show you what is going on much more clearly.
As they...
Thanks for your good advice
How do you price your ultimate goal?
Whether you're looking to buy the following last week low?
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  • #104,386
  • Nov 15, 2011 4:58am Nov 15, 2011 4:58am
hello, follow jaroo's method of picking out support and resistance, this is how my chart looks like. pardon me if it looks too cluttered! is it supposed to be liks this?

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I have 2 LCS at 1.3284 and 1.3257, which is pretty close together. However, those blue lines are taken on daily chart.

Or are we supposed to plot LCS and HCR on weekly and watch the lower TF to take touch trades? That would be more accurate.
  • #104,387
  • Nov 15, 2011 5:03am Nov 15, 2011 5:03am
Quoting Pinbar
I will forgive you. LOL

I totally agree with Mike though.

Funny I was thinking about when I did trade M15 setups on M15 before you taught me how to trade the Monthly & Weekly S&R on M15. Scares the hell out of me just to recall it.

They are certainly not the same thing.

EDIT: Not that you actually said, trade them on M15.

I understand what you meant, Pb . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,388
  • Nov 15, 2011 5:04am Nov 15, 2011 5:04am
Also, a question on the illustration below. There is a PCT & CB in the black rectangle. Price on the next blue candle subsequently bounced to 0.9766 where the HCR was at but went thru it to 0.9866 LCS which would have yield a good TT.

Would it have been good to short at 0.9766 HCR? Perhaps it would have been a profitable trade on 1 hr or 4 hours but on daily it sailed right thru.

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  • #104,389
  • Nov 15, 2011 5:18am Nov 15, 2011 5:18am
Quoting fascist
Also, a question on the illustration below. There is a PCT & CB in the black rectangle. Price on the next blue candle subsequently bounced to 0.9766 where the HCR was at but went thru it to 0.9866 LCS which would have yield a good TT.

Would it have been good to short at 0.9766 HCR? Perhaps it would have been a profitable trade on 1 hr or 4 hours but on daily it sailed right thru.

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I'm sorry fasc . .I don't see the HCR level at the .9766 of which you speak of . .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,390
  • Nov 15, 2011 5:19am Nov 15, 2011 5:19am
Quoting jarroo
I'm sorry fasc . .I don't see the HCR level at the .9766 of which you speak of . .
oh, isnt it the orange line?

edit: i thought you posted a new picture. i mean the BLACK line in my post..
  • #104,391
  • Nov 15, 2011 5:26am Nov 15, 2011 5:26am
Quoting fascist
Also, a question on the illustration below. There is a PCT & CB in the black rectangle. Price on the next blue candle subsequently bounced to 0.9766 where the HCR was at but went thru it to 0.9866 LCS which would have yield a good TT.

Would it have been good to short at 0.9766 HCR? Perhaps it would have been a profitable trade on 1 hr or 4 hours but on daily it sailed right thru.

Attachment

There was an H1 hint after the daily close.
We don't always see the signs of PA on the daily TF at these areas.
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  • #104,392
  • Nov 15, 2011 5:27am Nov 15, 2011 5:27am
Quoting fascist
oh, isnt it the orange line?

edit: i thought you posted a new picture. i mean the BLACK line in my post..

Oh . . this black line here on my chart . .lol . .no that's just current Price at the time I captured this picture. That line is not a level . .

Notice I made a mistake . ."PBT&CB " not "PCT&CB" . .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,393
  • Nov 15, 2011 5:30am Nov 15, 2011 5:30am
Quoting Pinbar
There was an H1 hint after the daily close.
We don't always see the signs of PA on the daily TF at these areas.

Man . .I'm going to have erase current Price levels on my charts . .lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,394
  • Nov 15, 2011 5:33am Nov 15, 2011 5:33am
This thing is moving faster than I can draw the S&R
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  • #104,395
  • Nov 15, 2011 5:34am Nov 15, 2011 5:34am
Quoting jarroo
Man . .I'm going to have erase current Price levels on my charts . .lol . .

Not sure what you mean, but I am sure it was funny.
  • #104,396
  • Nov 15, 2011 5:35am Nov 15, 2011 5:35am
Quoting Pinbar
This thing is moving faster than I can draw the S&R
You got love when that happens . .when your on the right side of the trade, of course . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,397
  • Nov 15, 2011 5:36am Nov 15, 2011 5:36am
Quoting Pinbar
Not sure what you mean, but I am sure it was funny.

kind of funny . .the black line is the live Price level on my charts.

Got to go for now . . . later

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #104,398
  • Nov 15, 2011 5:44am Nov 15, 2011 5:44am
Quoting jarroo
kind of funny . .the black line is the live Price level on my charts.

Got to go for now . . . later

Jim

Oh yeah. LOL
But, it was also coincidentally the Monthly HCR in that massive swing high & the LCS. I always, change the grid color to a faint color so I can still see where price is when I go back but, it doesn't look like a PPZ. LOL
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  • #104,399
  • Edited 6:03am Nov 15, 2011 5:50am | Edited 6:03am
A little SL moving experiment.
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  • #104,400
  • Nov 15, 2011 5:54am Nov 15, 2011 5:54am
Quoting Pinbar
There was an H1 hint after the daily close.
We don't always see the signs of PA on the daily TF at these areas.
which the best?or true?
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