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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

  • #106,301
  • Jan 25, 2012 8:52am Jan 25, 2012 8:52am
Quoting mbqb11
nice chart and area to watch. BRN intersecting with a clean rising TL as price is beginning to look heavy and turn over(ala divergence).

For you new people if you have a million indicators and lines running through your charts you don't need that! Simplify . Look for clean levels of confluence and wait and wait and wait
This is possible scenario 2 that I would look to watch for a break up also. So now I don't have a bias and just wait to see if we can get some nice PA
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  • #106,302
  • Edited 9:12am Jan 25, 2012 8:55am | Edited 9:12am
Quoting rolo1128
Ok. That makes sense. Watch possible critical areas on higher TF and then drill down to lower TF and watch for price action.

Yeah, you got it.

This chart is for anyone still wondering about it.
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  • #106,303
  • Jan 25, 2012 9:14am Jan 25, 2012 9:14am
Quoting mbqb11
nice chart and area to watch ...
Quoting mbqb11
This is possible scenario 2 ...
Quoting Pinbar
This chart is for anyone still wondering about it ...
Three really useful, simple charts. Thanks guys.

A few others I'm watching...
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  • #106,304
  • Jan 25, 2012 9:16am Jan 25, 2012 9:16am
Quoting Sgrb1
Three really useful, simple charts. Thanks guys.

A few others I'm watching...
very good SGRB

If one finds themselves with more then a few lines for guidance, or more then a few basic indicators(if one finds them useful) then most likely that person is struggling. I love clean charts like yours. At the least they simplify the thought process cause at the end of the day all it is , is buying and selling

best
Mike
  • #106,305
  • Jan 25, 2012 9:17am Jan 25, 2012 9:17am
Quoting Pinbar
Yeah, you got it.

This chart is for anyone still wondering about it.
Man, I wish it were that clean in real life.

To clarify, when you are looking to enter trades are you using levels taken from the time frame you're trading on, or levels from other TFs, or a combination?
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,306
  • Jan 25, 2012 9:20am Jan 25, 2012 9:20am
Quoting DropThumb
Man, I wish it were that clean in real life.

To clarify, when you are looking to enter trades are you using levels taken from the time frame you're trading on, or levels from other TFs, or a combination?
Hey DT

Once I spot an area I am generally watching it on a lot of timeframes. That is because great locations offer great opportunities in many ways. In this case we are hitting a tipping point. Meaning price is getting squeezed. And it is no surprise getting squeezed right on the BRN. Which I LOVE. I love not only for entry but also for trade management. For the most part for this trade I will watch the 4hr and 1hr for additional information. But price is getting forced to do something and that's all I am waiting for. Some tip off that fits my entry criteria.

I want to get back to posting more basic charts here, and I want to see others posting great areas, using confluence to locate these areas. Then we wait to see how price reacts

Hope that helps
Mike
  • #106,307
  • Jan 25, 2012 9:27am Jan 25, 2012 9:27am
Quoting mbqb11
very good SGRB

If one finds themselves with more then a few lines for guidance, or more then a few basic indicators(if one finds them useful) then most likely that person is struggling. I love clean charts like yours. At the least they simplify the thought process cause at the end of the day all it is , is buying and selling

best
Mike
Agreed Mike! Even after almost 3 years in this game I still find myself over-complicating my charts and thought process. It's just extra stress and confusion that a new trader can really do without.

Hopefully one day I will get my charts to look as simplified as yours

SG
  • #106,308
  • Edited 5:57pm Jan 25, 2012 9:35am | Edited 5:57pm
And for any totally new people, who are still confused about PPZ & S&R, as I was for a long time. Here is the PPZ S&R house.
Honestly, support and resistance did not click in my mind when I first started learning trading, until I got round to thinking of these levels as floors and ceilings in a house. its true. LOL

Edit: We can even put PB chandeliers & standing lamps in it.

Hey there is a marketing idea for traders, PB lamps!
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  • #106,309
  • Jan 25, 2012 9:45am Jan 25, 2012 9:45am
Quoting Pinbar
And for any totally new people, who are still confused about PPZ & S&R, as I was for a long time. Here is the PPZ S&R house.
Honestly, support and resistance did not click in my mind when I first started learning trading, until I got round to thinking of these levels as floors and ceilings in a house. its true. LOL
hahah that's great Steve
  • #106,310
  • Jan 25, 2012 9:46am Jan 25, 2012 9:46am
Quoting mbqb11
hahah that's great Steve

What are you laughing at, I am deadly serious about the PB lamps.
  • #106,311
  • Jan 25, 2012 9:47am Jan 25, 2012 9:47am
Quoting Pinbar
What are you laughing at, I am deadly serious about the PB lamps.
hahah that is great my friend. And it's a great intro for the new folks who we need to be vigilant in getting these basics home
  • #106,312
  • Jan 25, 2012 9:50am Jan 25, 2012 9:50am
Maybe we can get the Big guy to market them, they can alternate between bullish and bearish lamps, change to red or green. Just to really drive us crazy.

The Genuine J16 PB lamp!

What a crazy post for my 4,000 LOL
  • #106,313
  • Jan 25, 2012 9:54am Jan 25, 2012 9:54am
Quoting mbqb11
Hey DT

Once I spot an area I am generally watching it on a lot of timeframes. That is because great locations offer great opportunities in many ways. In this case we are hitting a tipping point. Meaning price is getting squeezed. And it is no surprise getting squeezed right on the BRN. Which I LOVE. I love not only for entry but also for trade management. For the most part for this trade I will watch the 4hr and 1hr for additional information. But price is getting forced to do something and that's all I am waiting for. Some tip off that...
That definitely helps Mike, thanks. I'm trying to keep my charts almost entirely blank while I learn this stuff. My tendency right now is to think that more lines offer more help, but I generally find myself more confused with each added line.
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,314
  • Jan 25, 2012 10:29am Jan 25, 2012 10:29am
Quoting mbqb11
This is possible scenario 2 that I would look to watch for a break up also. So now I don't have a bias and just wait to see if we can get some nice PA
Thanks for this chart Mike !
I had it on my watch more of a double top , channel developing thingy wow ...

I'm still struggling with this turnover point counter-trend breakouts , so ..thanks again ! Helpful as always

Many interesting setups/patterns forming out right now . Hope some good trades come over hehe

Wish you well
  • #106,315
  • Jan 25, 2012 12:19pm Jan 25, 2012 12:19pm
Gold launched up like a rocket.... missed this move.
all is eternal - this is good news for people who loves bad news
  • #106,316
  • Jan 25, 2012 1:47pm Jan 25, 2012 1:47pm
Quoting meshka
Gold launched up like a rocket.... missed this move.
I was watching for some PA around the green line but it shot right through.... stalled at previous bar lows.... see what it does now.... could still be action to be had here.

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  • #106,317
  • Jan 25, 2012 1:53pm Jan 25, 2012 1:53pm
Building up to something...

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it's never been much higher....

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  • #106,318
  • Jan 25, 2012 3:43pm Jan 25, 2012 3:43pm
classic James16 right?

BIG buob at swing low engulfing a large range of bars. Bar is much bigger then any proceeding bars in the recent down trend. Bar closes strong above the BRN of 2.5. Look at what happened last time we were at 2.5 BRN.

FTA is first blue box followed by the more major trouble areas. ONE line on our chart here
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  • #106,319
  • Jan 25, 2012 3:47pm Jan 25, 2012 3:47pm
USDCAD D1
Triangle break down+ Pin bar outside the triangle.
Please rate this.
http://ubuntuone.com/1x1vCcefI62cYWDdn2XWVt
  • #106,320
  • Jan 25, 2012 4:02pm Jan 25, 2012 4:02pm
Quoting Pokemon
USDCAD D1
Triangle break down+ Pin bar outside the triangle.
Please rate this.
http://ubuntuone.com/1x1vCcefI62cYWDdn2XWVt
I'd be concerned about going short here with parity looming just below, and we're sitting right on the 50 fib from the major uptrend from July-Oct. I'm waiting to see a touch on parity.
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
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