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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

  • #104,561
  • Nov 17, 2011 11:53am Nov 17, 2011 11:53am
Quoting Chelski
Thanks,

I can't state how "SIMPLE" this stuff is, no systems or complex algorithms! What I also like is the Day / Week PPZ and trade a 4h breakout. No hours chained to a screen, watch and wait like a sniper. A big thank you to you all.
now you get what james means when he says this stuff is dirt simple
  • #104,562
  • Nov 17, 2011 1:37pm Nov 17, 2011 1:37pm
Fast approaching 1 -9950 level.
  • #104,563
  • Nov 17, 2011 2:43pm Nov 17, 2011 2:43pm
I just wanna share the demo trade that I took on Cocoa Futures (Daily TF). I hope is not luck.
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  • #104,564
  • Edited 7:17pm Nov 17, 2011 5:59pm | Edited 7:17pm
Quoting 5.25
Just to add to the recent comments regarding trading the lower time frames, I've found myself only trading Daily and Weekly levels...
Gold was well behaved today. Classic DAILY former resistance turned support, throw in some of Jarroo's LCS into the mix and you had a great entry.

Areas I'm now watching:

1) Short at former support (assuming it will now act as resistance) and D LCS at 1750.87 and D LCS at 1753.87. Daily FTB entry.

2) Long D1 and W1 HCR at 1683.10. It will be the 2nd time back so no touch trade for me, I'll wait for PA on this one.

Edit: Forgot to add, H1 chart "Retest and entry and ... Bam!"

Edit: H1 chart should read "Support turned resistance" not "Resistance turned support".
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  • #104,565
  • Nov 17, 2011 6:10pm Nov 17, 2011 6:10pm
Quoting Chelski
Why J16 ROCKS!!!
Agreed

Nice trade Chelski, completely missed my radar. Clean and classic is the way to go. Keep them posting.
  • #104,566
  • Nov 17, 2011 6:14pm Nov 17, 2011 6:14pm
Quoting Pinbar
Nope, I want to see some PA even on a lower TF. Just something to confirm the direction price really wants to go in.
Thanks for sharing Steve.
  • #104,567
  • Nov 17, 2011 6:54pm Nov 17, 2011 6:54pm
Quoting 5.25
Thanks for sharing Steve.
No problem floppy.

We share our experiences, however small and learn collectively, as we were meant to.
  • #104,568
  • Nov 17, 2011 7:12pm Nov 17, 2011 7:12pm
Quoting Pinbar
No problem floppy.

We share our experiences, however small and learn collectively, as we were meant to.
Quoting 5.25
GBPAUD Daily
In which case, a little post rationalisation on a previous trade (GBPAUD D1). Forgot to include the 38.2% fibs retracement lining up with the TT entry. The more confluence the higher probability for price to react.

Got my eyes on the EURJPY for much the same reasons. LCS, PBT&CB, FTB TT entry with 23.6% fibs for confluence. Will see. PA would seal the deal.

Think I'm posting to much of late... I should stop. Last one for a while me thinks. Happy weekend all.
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  • #104,569
  • Nov 17, 2011 7:20pm Nov 17, 2011 7:20pm
Quoting jarroo
You got that backwards . .it was Support turning into Resistance . .but yeah you got it . . T . . .
Note the *Edit* Had a few drinks
  • #104,570
  • Nov 17, 2011 7:22pm Nov 17, 2011 7:22pm
I was just reading some Nietzsche quotes because a friend asked me to explain something.

Anyway, I think this is the reason many of us find this thread a safe haven and a wealth of knowledge & I know, J16 went through this to give it to us.




Everyone who has ever built anywhere a "new heaven" first found the power thereto in his own hell.
- Friedrich Nietzsche
  • #104,571
  • Nov 17, 2011 7:22pm Nov 17, 2011 7:22pm
Quoting 5.25
Note the *Edit* Had a few drinks

I see it, T . .I usually mis-speak like that but only in my webinars and videos . .lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,572
  • Nov 17, 2011 7:28pm Nov 17, 2011 7:28pm
Quoting Pinbar
I mean the continuation beob previous bar low.

Looks like that worked out really well, Pb . . That previous bar Low of the 4 Hour BEOB also lined up with some Daily Lows as well . .added strength . . what can I say . .PA Rules!! . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,573
  • Nov 17, 2011 7:33pm Nov 17, 2011 7:33pm
Quoting mbqb11
could never tell you how much all your prayers meant. Just returned from the hospital and the doctors are VERY hopeful for a full recovery. They are amazed at his progress from the shape he came in. We are very hopeful for the coming days/weeks and hopefully he can maintain this pace.

Thank you all so much, I know it will mean the world to him

Mike
That's great, Mike . .God Bless . .he sounds like one strong dude , .
Indicators show the past. Price Action "Indicates" the future.
  • #104,574
  • Nov 17, 2011 7:41pm Nov 17, 2011 7:41pm
Jarroo,
For TT, do u partial profit or trail stop or like Mike, u just close all at target?

How far into profit do u adjust SL to B/E? Thanks
  • #104,575
  • Nov 17, 2011 7:42pm Nov 17, 2011 7:42pm
Quoting Fx7877
Jarroo,
For TT, do u partial profit or trail stop or like Mike, u just close all at target?

How far into profit do u adjust SL to B/E? Thanks

Hey FX . .How are you today? . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,576
  • Nov 17, 2011 7:46pm Nov 17, 2011 7:46pm
Quoting jarroo
Looks like that worked out really well, Pb . . That previous bar Low of the 4 Hour BEOB also lined up with some Daily Lows as well . .added strength . . what can I say . .PA Rules!! . .

Yes, it even gave us a PA bar with confluence on H1 and had we taken it, a very small stop.
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  • #104,577
  • Nov 17, 2011 7:51pm Nov 17, 2011 7:51pm
Quoting Pinbar
Yes, it even gave us a PA bar with confluence on H1 and had we taken it, a very small stop.

Yes that was a nice confirmation . .Also notice that a 4 Hour bar could not close above that previous bar low entry ..
Indicators show the past. Price Action "Indicates" the future.
  • #104,578
  • Nov 17, 2011 7:52pm Nov 17, 2011 7:52pm
Quoting jarroo
Hey FX . .How are you today? . .
Great! Looking forward to more posts from the seniors like u & Mike to keep learning & learning...
  • #104,579
  • Nov 17, 2011 8:01pm Nov 17, 2011 8:01pm
Quoting jarroo
Yes that was a nice confirmation . .Also notice that a 4 Hour bar could not close above that previous bar low entry ..
Yeah, support flipping to resistance, even gave us an H4 BEOB with a retest of the previous bar low.
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  • #104,580
  • Nov 17, 2011 8:31pm Nov 17, 2011 8:31pm
Quoting PinWing
I have a question about how you determine important levels and when PBT&CA(B).

Does that levels need to be at swing high/low?. Because I can pick a random bulish bar that breaks a level of resistance, and next bar price bounces from that level, acting as support. Pls see on chart

This bar is not an extreme high/low. Then I see the number of times that level acted as resistance and support, and there is a lot of them.

These levels are secondary?, and not as reliable as the HCR - LCS?

I have tried them on demo, and result is a mess, lol....

Great post Hector . .wow . .nice . I had a big smile when I read this . .

There are some earlier posts of mine in this thread that I talk about this more . .don't ask me where they are . .in here.. lol

We look for strong levels of Support and Resistance at Swing Highs/Lows and the Tops and Bottoms of strong Consolidation areas . .these levels have HCR/LCS levels and than apply PBT&CAor B. Strong PPZ levels are looked at as well . .they are usually built by the above.

We look at these stronger levels because that have a higher probability to hit their target(s) and turn into a runner.


I wouldn't say you were picking random levels of Support or Resistance . they fit the above criteria (areas of consolidation, etc) and PBT&CAorB them. .good eye Hector . ..

PA is a great confirmation that this transition (S to R or R to S) took place but TT can be played tightly . .


Nice job Hector ..


Jim
Indicators show the past. Price Action "Indicates" the future.
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