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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

  • #110,861
  • Apr 27, 2012 8:04am Apr 27, 2012 8:04am
Quoting zamfir
Thank you..but could you provide some examples of some good PPZs and bad PPZs..
Sure man :
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I could not call a PPZ "bad" , as long it is a PPZ it has it's place . You could not ignore a ppz , couse it's not the best looking one . But it's always better to use the obvious ones for your trades .
  • #110,862
  • Apr 27, 2012 8:16am Apr 27, 2012 8:16am
Quoting Quezoy
AUD/NZD is dropping nicely.
But I'll wait till start of next week for an entry.
lets see..... a zone visited and rejected already... i prefer it to go higher and drop but.... next week as you say.
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Good weekend to all.
  • #110,863
  • Apr 27, 2012 8:16am Apr 27, 2012 8:16am
few brokers sent me warnings to be careful with EURCHF this weekend... hm... will be interesting to watch if it comes true... if it will break down 1.2000 should be nice swing in both directions...
all is eternal - this is good news for people who loves bad news
  • #110,864
  • Apr 27, 2012 8:19am Apr 27, 2012 8:19am
Quoting geniusztc
AU
the resistance area.
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A chart helps those who can read it.
  • #110,865
  • Apr 27, 2012 8:32am Apr 27, 2012 8:32am
Anyone following GBPUSD? It broke the 9 month high and psychological levels of 1.6200 possibly heading for the 1.6700's its high around this same time last year.
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Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #110,866
  • Apr 27, 2012 8:35am Apr 27, 2012 8:35am
Looks like I got bailed out on the NZDUSD. Definitely was not fun :-(.
  • #110,867
  • Apr 27, 2012 8:51am Apr 27, 2012 8:51am
Nice PA with a nice story..the only problem i see was the space.


Would love to hear your comments.

Thx.
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Trade Smart
  • #110,868
  • Apr 27, 2012 8:53am Apr 27, 2012 8:53am
Quoting Rust
Sure man :
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I could not call a PPZ "bad" , as long it is a PPZ it has it's place . You could not ignore a ppz , couse it's not the best looking one . But it's always better to use the obvious ones for your trades .
Nice charts - and great point. As I've seen in numerous posts from Mike - obvious ones ones for entry and exit, more minor ones for trade managements. One things for sure if you're in a trade and price makes it to pivot zone - you have to do something - take full or partial profit, reduce risk, BE.
  • #110,869
  • Apr 27, 2012 8:54am Apr 27, 2012 8:54am
Quoting Osman
Nice PA with a nice story..the only problem i see was the space.


Would love to hear your comments.

Thx.
What do you bet jarroo is in that one - at the top of the BEOB
  • #110,870
  • Apr 27, 2012 8:56am Apr 27, 2012 8:56am
unbelievable but EURUSD shows up signs... this 1.3000 stoped the train for a while
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all is eternal - this is good news for people who loves bad news
  • #110,871
  • Apr 27, 2012 8:59am Apr 27, 2012 8:59am
Hello all,

A question..

Lets say i trade W1, D1 and H4 only.

Lets say I have drawn r/s levels (I usually use jaroo's HCR and LCS levels).

Let say a pair has reached a PPZ. Now on the W1 and the D1 for this pair I see PA (i.e. an IB broke through those levels). But on the H4 I do not see the same PA breaking the important levels (the closes) on that time frame. So the r/s areas it broke were corresponding to the D1 time frame and the W1 time frame. The H4 levels (since they would be higher and lower than the D1 and W1 because of the intraday spikes) did not correspond to the PA breaking through.

So how would the more experienced traders here handle this scenario. Would you wait for the H4 to break in the general direction that the D1/W1 PA had suggested and then enter. Or would you enter directly on this signal?

Now i recall Beebolbod mentioning that he would go to lower time frames to check for PA confirmation of break. In the past i recall Mike speaking about something on similar lines. This does make sense as lower time frame PA would be cleaner breaks of PPZ levels that have been made on higher time frames. But on the flip side of that theory, lower time frame PA might not mean anything significant on the larger ones.

Much appreciated.
-H
  • #110,872
  • Apr 27, 2012 9:00am Apr 27, 2012 9:00am
Quoting Osman
Nice PA with a nice story..the only problem i see was the space.


Would love to hear your comments.

Thx.
I see plenty of space Don't let that nice straight move (a breakout burst) scare you . The mess at the upper area should !
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  • #110,873
  • Apr 27, 2012 9:02am Apr 27, 2012 9:02am
Quoting DBallerz
Looks like I got bailed out on the NZDUSD. Definitely was not fun :-(.
DB post that lesson to your computer, we have all done what you did. But many of us have experience where price just keeps going(which it will eventually). Set that stop loss in STONE.

The best lessons are often the toughest though so don't feel bad about it, smile cause you learned a lot off one single trade

Best
Mike
  • #110,874
  • Apr 27, 2012 9:03am Apr 27, 2012 9:03am
Quoting Donkey
Nice charts - and great point. As I've seen in numerous posts from Mike - obvious ones ones for entry and exit, more minor ones for trade managements. One things for sure if you're in a trade and price makes it to pivot zone - you have to do something - take full or partial profit, reduce risk, BE.
Exactly what i learned from Mike . I use it every time , and it works hell good !
Thanks for this addition Donkey
  • #110,875
  • Apr 27, 2012 9:04am Apr 27, 2012 9:04am
Quoting meshka
unbelievable but EURUSD shows up signs... this 1.3000 stoped the train for a while
it needs to get past this descending TL wedge if it can close out strong(give nice PA ) 1.35 is next stop. Until then I would say we are basically no different then we have been for weeks. We could see a BUOB today spike into the TL and price come crashing down next week too. The tipping point is close


Mike
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  • #110,876
  • Apr 27, 2012 9:10am Apr 27, 2012 9:10am
Quoting Quezoy
AUD/NZD is dropping nicely.
But I'll wait till start of next week for an entry.
tipping point almost met here too


http://www.forexfactory.com/showthre...81#post5405081

I have way to many breakouts on my watch list
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  • #110,877
  • Apr 27, 2012 9:18am Apr 27, 2012 9:18am
Quoting mbqb11
tipping point almost met here too


http://www.forexfactory.com/showthre...81#post5405081

I have way to many breakouts on my watch list
I missed this Thank you Mike , already on my list , too
Not so many things i like to watch these days on my list .
This one is optimus prime , for now . How do you like it ?
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  • #110,878
  • Apr 27, 2012 9:23am Apr 27, 2012 9:23am
Quoting Osman
Nice PA with a nice story..the only problem i see was the space.


Would love to hear your comments.

Thx.
I took it... I liked this BEOB at H4... just will be happy if it will reach target No1 at least.
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all is eternal - this is good news for people who loves bad news
  • #110,879
  • Apr 27, 2012 9:25am Apr 27, 2012 9:25am
Quoting Rust
I missed this Thank you Mike , already on my list , too
Not so many things i like to watch these days on my list .
This one is optimus prime , for now . How do you like it ?
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I posted like 30 charts in the PF I am watching lol. So many things are winding up. I am just sitting and waiting
  • #110,880
  • Apr 27, 2012 9:27am Apr 27, 2012 9:27am
Wish you all a nice weekend guys.

50 pips banked, SL at BE and going out for some BBQ n' a cold one.
Thoughts are things
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