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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

  • #107,681
  • Feb 20, 2012 9:15am Feb 20, 2012 9:15am
Quoting meshka
I like also this one prety cool one - gaped up and rejected from Res nicely.

Just waiting for close of all these JPY crosses daily candles. Will choose then few favorites
Good luck with your choice. I usually take the laziest one, if I have to choose from more
Follow my trading on Twitter and FB: @pumlitch
  • #107,682
  • Feb 20, 2012 9:16am Feb 20, 2012 9:16am
0,9930 line still valid for USDCAD... bulls are fighting two weeks already
interesting.
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all is eternal - this is good news for people who loves bad news
  • #107,683
  • Feb 20, 2012 10:15am Feb 20, 2012 10:15am
Quoting deankenny21
i know looking at an upmove like that can be daunting to sell against, but if anything i learnt from my time at the Supply and Demand academy its actually good, because if the sellers are coming in on that pin, there is less battleground to go down through, hard to explain, but just means a cleaner path
Hi dean, do you have threads or links you can kindly direct me to regarding the study or supply and demand? Found it really interesting how you combine this with j16 ways of trading.

A million thanks!
  • #107,684
  • Feb 20, 2012 11:27am Feb 20, 2012 11:27am
Quoting adaighy
Hi dean, do you have threads or links you can kindly direct me to regarding the study or supply and demand? Found it really interesting how you combine this with j16 ways of trading.

A million thanks!
Check out the thread "Price is Everything" and "Romancing the Price"
  • #107,685
  • Feb 20, 2012 11:50am Feb 20, 2012 11:50am
This was pretty easy. Nice clear pin at top of box, space to get to BE and great rejection forming the pin. We knew where this was going. I took it and closed it for modest profit on Friday. Had i left it open it would have been even better but i'm trying to stick to rules regarding leaving stuff open over the weekend - this didn't conform.
Now i'm looking (as before in previous posts) for PBT&CB... shame not still holding short on this.

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  • #107,686
  • Feb 20, 2012 12:22pm Feb 20, 2012 12:22pm
Quoting biDc
Check out the thread "Price is Everything" and "Romancing the Price"
Superb. Thank you. More gold.
  • #107,687
  • Feb 20, 2012 1:01pm Feb 20, 2012 1:01pm
http://my.jetscreenshot.com/11256/m_...-xvnf-79kb.jpg
  • #107,688
  • Feb 20, 2012 1:31pm Feb 20, 2012 1:31pm
Quoting beebolbod
PS - your 'inverse' colour scheme is v strange to me!! I've never seen bullish bars in red before.
HAHA beeb! Think I set my template wrong at one point. But once I got through the whole indicator phase it didn't really matter much what color the bars where. lol
  • #107,689
  • Edited 1:47pm Feb 20, 2012 1:34pm | Edited 1:47pm
Quoting fxkaka
Hi Brother Jim,
I tried to re-draw Eur/USD levels Monthly/Weekly and Daily. I tried to take all swings points which I can see on my screen without scrolling. But I ended up so many lines. Is it correct?
Or should I just keep only those levels (daily specially) which are line up also with lows/highs of bars and/or weekly/monthly levels?

(Any body can comments on that please and I also want advise from Jaroo too.)

Thanks.

Hey KayKay . . your Monthly / Weekly levels (based on your chart from what I see) look real good. Your Dailies look like they are not at the deepest Swing points. Not saying thats wrong, but those internal levels better be very strict as a PPZ level . .meaning very clearly seen . .multiple Highs and Lows and HCR/LCS lining up in a very clear straight line or Zone.

Or you can use just the Monthly /Weekly deep HCR/LCS and just wait for Price to get there.

So try again on the Daily Euro but limit the levels to 3 or 4 lines . .its not that many, so they got to be reallllly good. . .


Remember your great chart on the UsdJpy . . there was only 3 levels (areas) .. .just 3 . .that we were looking at for Price to come to . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #107,690
  • Feb 20, 2012 1:49pm Feb 20, 2012 1:49pm
Quoting jarroo
No problem with a break even trade equivestor as long as Price hit your 1st FTA.

About your charts . .I use FxPro due to its 5:00PM (EST) Close. . . so your Oanda feed looks very mixed to me. Also if I go down to the 4 Hour or Hourly, I bring the Daily and Weekly HCR/LCS levels along with their targets (FTAs) with me. So what does your charts look like on the 4 Hour with these in place?

Jim
Thanks for looking out for me Jarroo. FxPro up and running)

The GBP/USD looks like this with all the levels I can see marked. But again I haven't taken any profits out at the FTA targets. I don't even know if I marked them correctly or if I should be looking for them on the daily or on lower time frames which is where i'm managing my trades.
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  • #107,691
  • Feb 20, 2012 1:52pm Feb 20, 2012 1:52pm
Eur/Jpy before and after . .the 104.75 should have been 104.72 . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,692
  • Feb 20, 2012 2:03pm Feb 20, 2012 2:03pm
Quoting equivestor12
Thanks for looking out for me Jarroo. FxPro up and running)

The GBP/USD looks like this with all the levels I can see marked. But again I haven't taken any profits out at the FTA targets. I don't even know if I marked them correctly or if I should be looking for them on the daily or on lower time frames which is where i'm managing my trades.
Hey equivestor . .That daily HCR level is a bit unclear on the Daily. Its much clearer as a Weekly HCR level.

Since its a Weekly level, we have Weekly targets; previous bar Highs/Lows. . .But you can also use the Daily targets (absolutely) ; previous daily Highs/Lows.

What do these levels look like on the 4 Hour? . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,693
  • Feb 20, 2012 2:11pm Feb 20, 2012 2:11pm
Quoting Pinbar
Thanks for the Kind words folks, I sent DK, Jarroo & Mike that a while ago but was unable to post.

This forum is for trading not squabbling, I shall remember that.

Anyway, here is an interesting price alert indicator, I found and it is really useful. I think Mike also used it at one stage.

Does, TL, Horizontal Lines, Fibo alerts, rectangles etc, so I think it could fit into the tool box of many people.

You can use any style of horizontal lines you like, it will alert you at each line touch, you can draw rectangles and have it alert you,...
Cool Pinbar . .I don't think I've seen/used this one before.

I'll check it out ..thanks bro.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,694
  • Feb 20, 2012 2:17pm Feb 20, 2012 2:17pm
Quoting 5.25
Spot on Jim! You read me like a book. :nerd:

Equivestor, listen and learn from the Seniors, I'm only reinterpreting their material as a mere mortal. Jarroo nailed my trade requirements so can't really add anything more to it. I'll elaborate when required.

T

I learn alot from your charts too, T . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,695
  • Edited 3:24pm Feb 20, 2012 2:37pm | Edited 3:24pm
Quoting Pinbar
Let's see if it can fill the gap.
Wedge target Hit . . . . Thanks Mike.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #107,696
  • Feb 20, 2012 3:00pm Feb 20, 2012 3:00pm
Quoting jarroo
Wedge target Hit . . . . Thanks Mike.


Jim
Hi Jim,
Hope you dont mind me asking - did you take this trade based on the BEOB that broke thru support? If so do you then enter when the BEOB is breaks? with a SL abobe the BEOB?
Hugh.
  • #107,697
  • Feb 20, 2012 3:00pm Feb 20, 2012 3:00pm
http://my.jetscreenshot.com/11256/m_...-umeh-93kb.jpg




Wait till it reached the above resistance? Or take the trade? I think its at a BRN level.

Confusing one.
  • #107,698
  • Feb 20, 2012 3:11pm Feb 20, 2012 3:11pm
Quoting human2
Hi Jim,
Hope you dont mind me asking - did you take this trade based on the BEOB that broke thru support? If so do you then enter when the BEOB is breaks? with a SL abobe the BEOB?
Hugh.

Hey h2 . .I entered this trade a couple times . . at the retracement at the 2 Bar Low once Price Broke Through and Closed below the heavily confluenced Support level . which then "flipped" to Resistance . .and again at the 3 Bar Low. Taking profits at the given targets along the way.

Hope you can see through my messy chart . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,699
  • Feb 20, 2012 3:16pm Feb 20, 2012 3:16pm
Quoting heebbyjeeby
http://my.jetscreenshot.com/11256/m_...-umeh-93kb.jpg




Wait till it reached the above resistance? Or take the trade? I think its at a BRN level.

Confusing one.
Hey Heebby

Be careful here though remember we want the open and close to be within the prior bar. Since price gapped up there is no prior bar to be contained within. This doesn't make it wrong, but I would stick to the basics first as defined by james before trying to take some of the trickier situations.

Best
Mike
  • #107,700
  • Feb 20, 2012 3:24pm Feb 20, 2012 3:24pm
Quoting jarroo
Wedge target Hit . . . . Thanks Mike.


Jim
nice job buddy
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