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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

  • #111,641
  • May 11, 2012 3:48am May 11, 2012 3:48am
Quoting Rust
Hey Mike , I am interested
Could you please elaborate on this entry . Although i am pretty familiar with your style , this one i can't figure out

Regards my man
Hi Mike, add me to the list! I do see a strong PPZ around the 9950 area. On my charts there is a big buob on daily that runs thru PPZ but closes (& spikes) way higher. Going down to 4H I do see a retrace to the PPZ. Was this the signal to enter??
Hugh.
  • #111,642
  • May 11, 2012 4:11am May 11, 2012 4:11am
Quoting mbarker22
Just wondering if this topic has been brought up before (I am sure it has ). Do most people here use James16 PA to aid with another trading strategy of their choice, or do most people just PA by itself and that is their strategy?

I ask because it is hard for me to pick a good strategy I want to go with, and was wondering if PA alone really is an option for someone to just use that?

Thanks for any replys!
PA is king. But PA isn't just bar formations. Stick with learning to read price. I dont know of anyone who's ditched it having failed whereas i hear lots of stories of failure with other methods.
  • #111,643
  • May 11, 2012 4:12am May 11, 2012 4:12am
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Sr zone on kiwi and pinbar on H4, what do you think guys?
  • #111,644
  • May 11, 2012 4:41am May 11, 2012 4:41am
Quoting beebolbod
PA is king. But PA isn't just bar formations.
Like the post of the week
Cheers mate !

This is so important . And to add some more to it :
PPZ is price action
Patterns are price action
Ranging and trending is price action
Boxing is price action
Momentum is price action and fading of momentum , too - we call it DIVERGENCE
...probably more

Don't ignore these ! This is my humble advice
  • #111,645
  • May 11, 2012 5:17am May 11, 2012 5:17am
Bearish pair ?



Quoting A-Mode
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Sr zone on kiwi and pinbar on H4, what do you think guys?
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,646
  • May 11, 2012 5:34am May 11, 2012 5:34am
Quoting Bones
Bearish pair ?
20 days left in this month so monthly bar can look very different than it looks now.
  • #111,647
  • May 11, 2012 5:48am May 11, 2012 5:48am
Quoting mbqb11
I'm at breakeven now on the usd/cad if anyone is interested, since we are retesting the highs.
Hi Mike, can you explain more details this entry? (on usd/cad). If its not difficult for you, of course.
  • #111,648
  • May 11, 2012 6:01am May 11, 2012 6:01am
GBP/CHF missed the pin on H4. BRN 1.5000. I would like to see the gap close

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  • #111,649
  • May 11, 2012 6:09am May 11, 2012 6:09am
Quoting Rust
Like the post of the week
Cheers mate !

This is so important . And to add some more to it :
PPZ is price action
Patterns are price action
Ranging and trending is price action
Boxing is price action
Momentum is price action and fading of momentum , too - we call it DIVERGENCE
...probably more

Don't ignore these ! This is my humble advice
And excellent advice it is too m8.

Here is a fantastic website with a lot on PA.

http://www.nobrainertrades.com/
  • #111,650
  • May 11, 2012 6:48am May 11, 2012 6:48am
Any help on this one? AUD/CAD - I got short after the break of this pinbar.. But doesn't seem to be going anywhere now. Opinions please? Price action not giving me much to go with! Close or leave for next week?
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  • #111,651
  • May 11, 2012 6:52am May 11, 2012 6:52am
ignore that fib too, its wrong
  • #111,652
  • May 11, 2012 7:00am May 11, 2012 7:00am
Quoting mbqb11
I'm at breakeven now on the usd/cad if anyone is interested, since we are retesting the highs.
Just speculating on your entry since everyone seems to be curious.

This pair is in a pretty tight box right now. When analyzing boxed formations such as this one, Mike has made the valid point that the midpoint of the box is often a minor PPZ. Unless this trade was made on the 4H based off of PA (which I personally don't think it was for a few reasons), it is my guess that because of the parabolic move upwards that occurred in such a short amount of time (two bars really, starting at the first bar low to touch the TL) and also be of the fact that we have a close above the midpoint (on the second green bar after the one touching the TL) a continuation was predicted and a limit order was placed. The order was filled pretty much right at the midpoint of the box and after such a parabolic move upwards (and a PBT CA) would it be reasonable to speculate that there will be a retrace to the midpoint and a continuation upwards?

I think so.

But this is purely my speculation. Other opinions are welcome.

Ender
  • #111,653
  • May 11, 2012 7:21am May 11, 2012 7:21am
Quoting Brixton
Any help on this one? AUD/CAD - I got short after the break of this pinbar.. But doesn't seem to be going anywhere now. Opinions please? Price action not giving me much to go with! Close or leave for next week?
bearish pinbars at swing highs, bullish pinbars at swing lows.
  • #111,654
  • May 11, 2012 7:33am May 11, 2012 7:33am
Quoting fafarafa
Hi Mike, can you explain more details this entry? (on usd/cad). If its not difficult for you, of course.
9940 was a great pivot area. Not sure how Mike got in there but at m5 you can see the decision to break it and for it to hold as support, paving the way for move up.
EDIT :-Some heavy shit just hit the fan.
  • #111,655
  • May 11, 2012 7:56am May 11, 2012 7:56am
Now Pin in danger,to follow eu

Quoting Bones
Maybe Jim
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,656
  • May 11, 2012 8:08am May 11, 2012 8:08am
CAD is exploding This BEOB is engulfing the WHOLE box ! If this isn't strong PA ....
And I am in the game !
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  • #111,657
  • May 11, 2012 8:31am May 11, 2012 8:31am
Quoting Rust
Hey Mike , I am interested
Could you please elaborate on this entry . Although i am pretty familiar with your style , this one i can't figure out

Regards my man
sorry guys, this is a bit more advanced so I won't go crazy into details here

It was playing the fading momentum(divergence) and massive box from the parity to 9900 level. Once price false broke to the downside couple with all the other false breaks we were seeing around/Price at a tipping point like the euro was at the top of the wedge. Then once price strongly pushed through the 9900 box it was a pretty safe bet to at least the highs we are at now(and this is a good sign we need to breakout long too so a lot of potential). The entry was not based on a bar setup but the story like a touch trade. Doesn't look like I will catch the push, this should break out but we may have to revisit the middle of the box area around the 9900 mark again.

again a more complicated play but since I posted a chart with my buy I decided to show I was at breakeven. Here was my chart from the PF but if you are new PLEASE forget this post for now if anything just try to understand the "story" here was what I wrote:

i spoke about this in my last webinar(should be posted today/tomm). This is that rounding effect and a huge potential base coming in. I told you guys I am watching the 9900 level. Ideally I am looking for place to close above this level and get long in that area with a stop under the low. If price is correctly rounding then we should see a substantial move higher(there is a boatload of orders resting above the recent highs which should cause a nice move). It's no guarantee but it's some of the few times I touch trade. Gbp/aud was a recent one I took that ran like crazy see if you can spot it also.

Hope that helps
Mike
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  • #111,658
  • May 11, 2012 8:31am May 11, 2012 8:31am
I hope a lot of you guys have / are enjoying this ride ! .Ghous, although I have played a simple resistance retest failure ,entry on a pull back with fib ret as a confirmation, but I think it is also validating your HCR, and HHR principle , is it ?
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  • #111,659
  • May 11, 2012 8:33am May 11, 2012 8:33am
Quoting Bones
Maybe Jim
Yes, the trendline was nice . .but I was looking at the 1.3028 as Resistance not the 1.3018. .Nice charts Tony . . . (charts)
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Indicators show the past. Price Action "Indicates" the future.
  • #111,660
  • May 11, 2012 8:59am May 11, 2012 8:59am
Quoting mbqb11
Hey ME

I would be careful here, I don't see a ton of confluence. If you look at aserbfx chart above you can see we are squeezed in a tight area(lack of space) so our trouble areas become very important if we choose to play these.

Same would go from the daily perspective it's a pin but at a very very minor swing low causing us to be trading right into traffic, giving us very little room to work with.

I would say be very vigilant with your stops/protecting oneself in a case like this

I prefer watching price around the 1.6 as I posted...
update, and a bar new traders NEED to take note of


this is the exact type of bar that I see new traders constantly get beat up over and I also know this one hurt people based on my inbox
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