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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

  • #117,461
  • Sep 5, 2012 3:39pm Sep 5, 2012 3:39pm
This little box seems to hold. Nice support and resistance levels. Might be a good break out trade or PBT trade...
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  • #117,462
  • Sep 5, 2012 3:41pm Sep 5, 2012 3:41pm
Quoting jarroo
Couldn't you go long if it closes Above??
I don't want it to close above because NZD CAD and NZD JPY are partially correlated crosses ... And I currently don't see anything stoping NZD JPY from going down but space ... What are the Odds that even if NZD CAD breaks and closes upwards , It will not be a BE ???
Human
  • #117,463
  • Edited 4:18pm Sep 5, 2012 3:43pm | Edited 4:18pm
Quoting Chanya
NZD CAD , Will it be a daily close confirmation ??? Lets see ...
Doubt NZDCAD is breaking up any further.
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  • #117,464
  • Sep 5, 2012 3:44pm Sep 5, 2012 3:44pm
Quoting Johan N
This little box seems to hold. Nice support and resistance levels. Might be a good break out trade or PBT trade...
Yes Johan . .it looks good . .let's watch it . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,465
  • Sep 5, 2012 3:46pm Sep 5, 2012 3:46pm
Quoting Chanya
Come on man ... That's a Low blow ...
Sorry man Here Cricket is kind a sport you read about in the books or wikipedia

This is kind a yours "national sport"??

We are more a soccer kind of country... unfortunately our soccer notional team sucks lately...

Happy for you victory

Gbpaud and audusd seems still nice - and close is right here
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  • #117,466
  • Sep 5, 2012 3:46pm Sep 5, 2012 3:46pm
Quoting Chanya
I don't want it to close above because NZD CAD and NZD JPY are partially correlated crosses ... And I currently don't see anything stoping NZD JPY from going down but space ... What are the Odds that even if NZD CAD breaks and closes upwards , It will not be a BE ???
lol . .The market doesn't know "want" or "will" . .let's see how it plays out, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #117,467
  • Sep 5, 2012 3:47pm Sep 5, 2012 3:47pm
Quoting fortunateson
Diddn't know it was down. Could I still sign up and get up to speed with all the archived vids. I'm unclear how it works not being a member yet. I was planning to sign up as soon as I got up to speed on this thread which hopefully will be soon.
Hey F

The site is still running as usual. James is just giving it a makeover and adding some new things. All videos/content from day 1 is all there

If you have more questions just shoot me a message

Mike
  • #117,468
  • Sep 5, 2012 3:48pm Sep 5, 2012 3:48pm
Quoting jarroo
lol . .The market doesn't know "want" or "will" . .let's see how it plays out, my friend.
Nice one ...
Human
  • #117,469
  • Sep 5, 2012 3:50pm Sep 5, 2012 3:50pm
Quoting jarroo
Yes that's correct, dan. But there are situation where the other applies. . .Strong consolidation areas and when in a strong trending market.
Ok cool, its good to know im at least thinking along the right lines. I think for now keep things simple and trade short at lcs levels and vice versa

Cheers
Dan
  • #117,470
  • Sep 5, 2012 3:51pm Sep 5, 2012 3:51pm
I marked PPZ areas with thick lines on this daily chart. NZDUSD broke through the yellow one recently and is holding below so far today. Assuming it closes below in the next 15 minutes. There is also at least 100 pips before it runs into problems. It would setup for a couple things:

1. It's a daily close confirmation, jarroo style, and could now be treated as a short. I don't know if it'd be better to wait for a retrace back to the LCS line turned resistance), enter now, look for a lower time frame signature, etc. Stop loss looks like it could be set just above the BRN of 0.8000.

2. Wait for price to retrace and then look for short price action candles.

3. Enter now with stop loss above BRN of 0.8000.

Is anyone else looking at this If so, how are you considering playing it?
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  • #117,471
  • Sep 5, 2012 3:54pm Sep 5, 2012 3:54pm
Mike , Is it your kind of thing ??? Do you like it ???
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Human
  • #117,472
  • Sep 5, 2012 4:00pm Sep 5, 2012 4:00pm
Quoting dan89
Ok cool, its good to know im at least thinking along the right lines. I think for now keep things simple and trade short at lcs levels and vice versa

Cheers
Dan
Yes, you are Dan . . .keeping things simple is the key . .you know why? I'll tell you a litttle secret about keeping things clear and simple. . . . . . .

. . . .Its the only thing that works.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,473
  • Sep 5, 2012 4:01pm Sep 5, 2012 4:01pm
Quoting Chanya
NZD CAD , Will it be a daily close confirmation ??? Lets see ...
Damn . Guess we are going up ...
Human
  • #117,474
  • Sep 5, 2012 4:03pm Sep 5, 2012 4:03pm
I traded this pair into a large range @ 1.2365 after multiple wicks (3) off of support. Did anybody else take this trade? The fundamentals happened to play along today to lift up the EU, but otherwise this could have been much trickier or? Would this have been a viable James 16 trade?


http://i46.tinypic.com/35cmv6h.gif
  • #117,475
  • Sep 5, 2012 4:03pm Sep 5, 2012 4:03pm
Quoting Chanya
Damn . Guess we are going up ...

Could be . .it does look like a wacky looking 2 Day bullish Pin Bar. .
Indicators show the past. Price Action "Indicates" the future.
  • #117,476
  • Sep 5, 2012 4:05pm Sep 5, 2012 4:05pm
Quoting mbqb11
Hey F

The site is still running as usual. James is just giving it a makeover and adding some new things. All videos/content from day 1 is all there

If you have more questions just shoot me a message

Mike
Great!! Thanks for the quick response. Will do if any questions arise, beleive me I have many but I want to work through the 1st couple hundred pages and get a better grasp.

Joe
  • #117,477
  • Sep 5, 2012 4:06pm Sep 5, 2012 4:06pm
Quoting DaGrizlyBull
Firstly, i find out that a day needs to close below/above a level to confirm its holding , and enter on the retest.
Then i find out that "sometimes", we need ANOTHER day to retest AND close above/below after PBT to confirm the level holding.
Then i find out that a H1 bar that test and closes above/below is enough to confirm that level.

So...which one is it? Is there a place where all this is somewhat structured?

Thanks
About a week ago, on GBPJPY we had similar situation to todays Jarroo's eurodollar trade. We had daily confirmation of support after bar after PBT&CA retested HCR level. Then price came back to that level and didn't close below that HCR on 1 hourly chart which opened a possibility to enter long on last bar's close.

I think we don't have to wait for daily confirmation of particular level if that level was confirmed on daily chart some time before. We could try to open position if 1 hourly chart showing us that this level still works (in this case it is still support cause 1h bar never closed below it) and open position on close of that bar.

Anyway, its how i understand this.
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  • #117,478
  • Sep 5, 2012 4:08pm Sep 5, 2012 4:08pm
Quoting Chanya
Mike , Is it your kind of thing ??? Do you like it ???
Hey C

That's much to small of a pattern for me really

Best
Mike
  • #117,479
  • Sep 5, 2012 4:12pm Sep 5, 2012 4:12pm
Jarroo,What do you think about this?I understand that the level of 1.2486 is not broken, but still!?
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  • #117,480
  • Sep 5, 2012 4:12pm Sep 5, 2012 4:12pm
Quoting Audioslave
About a week ago, on GBPJPY we had similar situation to todays Jarroo's eurodollar trade. We had daily confirmation of support after bar after PBT&CA retested HCR level. Then price came back to that level and didn't close below that HCR on 1 hourly chart which opened a possibility to enter long on last bar's close.

I think we don't have to wait for daily confirmation of particular level if that level was confirmed on daily chart some time before. We could try to open position if 1 hourly chart showing us that this level still works (in this case...
That was your post on the GbpJpy audioslave ? I saw that post breifly and wanted to comment on it at the time but then couldn't find it again . .

You're nailing it right on the head . . .nice work . .

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