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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

  • #121,401
  • Dec 4, 2012 8:41am Dec 4, 2012 8:41am
Quoting surajkincity
thanks for the detaild explaination and the indicator too!
well so you mean i shoulf be focusing on PivotPoint Zones? and wait for price action to happen! well PPZ is the one which all these traders use ovr here on thred or it is mathimatical one?
thanks!
Hey Suraj

Most people here focus more on S/R a PPZ is a flip between support and resistance and vice versa. These are one of the most powerful tools for a trader.

Here is a good starting point

http://www.forexfactory.com/showthre...16#post2252116

Best
Mike
  • #121,402
  • Dec 4, 2012 8:43am Dec 4, 2012 8:43am
Quoting surajkincity
thanks you made everything crystal clear!
cool, happy to hear that
if I can be of any help...
Quoting surajkincity
do you use this indicator too!
nope.
Quoting surajkincity
i mean i can simply use this indicator as the total solution to find PPZ?
Not the total solution since this indy does NOT show PPZ.

Slow & steady
  • #121,403
  • Dec 4, 2012 8:44am Dec 4, 2012 8:44am
Quoting surajkincity
thanks you made everything crystal clear!
do you use this indicator too!
i mean i can simply use this indicator as the total solution to find PPZ?
Hey Suraj

It's not an indicator based concept. The link above should better explain and get you started. It's a visual thing and it takes time. Like learning to read another language. Over time you develop these concepts and it gets easier and easier

Keep at it
Mike
  • #121,404
  • Dec 4, 2012 8:50am Dec 4, 2012 8:50am
Quoting daveone
EUR/CAD H4 Pinbar / Daily SFP. Comes with Daily Level Confluence. What do you guys think?
i am waching this in daily chart! and even MACD is showing divergence!
  • #121,405
  • Dec 4, 2012 9:00am Dec 4, 2012 9:00am
Quoting mbqb11
Hey Suraj

It's not an indicator based concept. The link above should better explain and get you started. It's a visual thing and it takes time. Like learning to read another language. Over time you develop these concepts and it gets easier and easier

Keep at it
Mike
ok mike i will go through those links and get myself clear!
  • #121,406
  • Dec 4, 2012 9:08am Dec 4, 2012 9:08am
Quoting Salestrainer
Hey C12, been trading since 2010, have read every page of this thread, took me several months! Traded 1m timeframes before discovering this thread, still do. I do incorporate the S/R, trendlines etc, along with of course candlestick set ups like are discussed here. Many people misunderstand small time frames thonk it's just noise, however you still see same patterns day in day out. If someone overtrades because of being on a small time frame it's a discipline issue, not the timeframe.
Agree, it's he same thing. You just increase the position size on the lower time frames and there are a lot of opportunities. It's all about risk/reward ratios.

Although, I don't pay so much attention to bar shape or size on the M1/M5. Location is key.
  • #121,407
  • Dec 4, 2012 9:16am Dec 4, 2012 9:16am
Quoting patapouer
cool, happy to hear that
if I can be of any help...

nope.

Not the total solution since this indy does NOT show PPZ.

(Mike)


Well i went through those post Mike linked above!
if i observed well then it was telling that pivot points zones are support and resistense zones only!
the area from where price has been flip back continuesly in past.
well i often see a higher timeperiod to draw long term support and resistence zones observing the same!
is this what i draw is PPZ?
if not thn what is it!
  • #121,408
  • Dec 4, 2012 9:24am Dec 4, 2012 9:24am
http://www.forexfactory.com/showthre...56#post6253056

this post by "PINBAR" is also a greate source to know about PPZ.
  • #121,409
  • Dec 4, 2012 9:27am Dec 4, 2012 9:27am
Quoting surajkincity
(Mike)


Well i went through those post Mike linked above!
if i observed well then it was telling that pivot points zones are support and resistense zones only!
the area from where price has been flip back continuesly in past.
well i often see a higher timeperiod to draw long term support and resistence zones observing the same!
is this what i draw is PPZ?
if not thn what is it!
Hey Suraj

Yes this is exactly what a PPZ is. It's flip of support and resistance. This happens in minor flips to very major flips

Very important areas to watch

Mike
  • #121,410
  • Dec 4, 2012 9:32am Dec 4, 2012 9:32am
Quoting mbqb11
Hey Suraj

Yes this is exactly what a PPZ is. It's flip of support and resistance. This happens in minor flips to very major flips

Very important areas to watch

Mike
thanks a lot this was one of my loong time major doubt which you guys cleard.
sorry i post too many questions here then anybody eles!
thank for all!
  • #121,411
  • Dec 4, 2012 9:32am Dec 4, 2012 9:32am
Quoting surajkincity
thanks a lot this was one of my loong time major doubt which you guys cleard.
sorry i post too many questions here then anybody eles!
thank for all!
post away Suraj, many people are viewing that have the same questions and benefit from others asking as well

Best
MIke
  • #121,412
  • Dec 4, 2012 9:38am Dec 4, 2012 9:38am
Quoting mbqb11
post away Suraj, many people are viewing that have the same questions and benefit from others asking as well

Best
MIke
i will!!!
thanks
  • #121,413
  • Dec 4, 2012 11:15am Dec 4, 2012 11:15am
Hi C-12,
Thanks for the comments & posts. I've been studying for some time now & like you, I have a hard time holding onto a trade so want to try scalping. I noticed your chart shows a very small spread on the AUD/USD which is the pair I'd like to scalp do to the volatility. Which broker do you use & are you required to trade a certain size to get the spread that small?
Also, is there any other resources you would recommend regarding scalping in forex. This thread is a great source & full of great knowledge from some really good traders. I'll continue to follow it & someday get the courage to hold on for swing trading.
Thanks!
Quoting C-12
I was reading through Ken Lee's thread and noticed you were active on there for a while. Did you give up on trading S&D?

It's not so easy to make a profitable system out of it. The higher time frames can be tricky, hard to pin point the exact levels but the lower timeframes work beautifully.

Here's one of my open scalp trades. Risk was 3 pips, took 6 and at BE. Anyway.. this is a bit off topic.
  • #121,414
  • Dec 4, 2012 12:49pm Dec 4, 2012 12:49pm
Quoting C-12
Hmm not sure if Jarroo would fancy that as a HCR level but I'm short, but not break even yet. There's some big Aussie and Euro news over the next 12 hours so we'll see what this pair does.
Hey C-12, are you are looking at Hourly Highest Close of Resistance levels (HCR) on the Hourly?

I look at Daily and Weekly HCR/LCS levels and then bring them down to the lower frames, like the Hourly, to see if they hold at these Higher TF levels. ..when a confluenced setup is presented, of course.

Take the GbpUsd at this Daily HCR level of 1.6128 we have a 61.8 Fib confluence . .do you see any other confluences that are aligned with this level ?


Looking at the Hourly TF at this higher TF HCR level of 1.6128, we can see there was a Hourly Signature (meaning a Hourly bar could not close above) at this Higher TF level . . confirming that this level is Resistance on the Hourly . ..

We can check other TFs to see if Price can hold as Resistance . .like the 4 Hour TF or even the 15min TF. .. .and even the 5min TF.

An entry short can take place at the 1.6128 as a Touch Trade or once this confirmation of Resistance occurs.

Jim

Could be the High of the Day . .
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Indicators show the past. Price Action "Indicates" the future.
  • #121,415
  • Dec 4, 2012 2:18pm Dec 4, 2012 2:18pm
Quoting surajkincity
I put it on my chart! So this is the Final solution for PIVOT POINT ZONES?
I dont need to look for anything els ryt?

Do yourself a favor and go to the J16 guest area, agree to the conditions and watch the J16 videos, start with the PIVOT ZONES
3-26-09

Just click on the link above.
  • #121,416
  • Edited 2:34pm Dec 4, 2012 2:20pm | Edited 2:34pm
Did not come back to the entry, yet.

Let's see how it reacts at this Daily /Weekly confluence area.
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  • #121,417
  • Dec 4, 2012 2:39pm Dec 4, 2012 2:39pm
Hi Mike/Jim
Can you advise on the EUR.CAD pinbar - bar still has not closed granted.
But this are has been rejected on a number of occasions - BRN at 1.3.
This is messy pair as its a cross, combo of eur/usd + usd/cad
Thanks
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  • #121,418
  • Edited 3:23pm Dec 4, 2012 2:52pm | Edited 3:23pm
Perhaps a little too preemptive as, the daily has yet to close.

Let's see how it works out.

The signs are there, PB, Divergence & the Weekly minor level, it is more working on my train of thought process than a great setup.
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  • #121,419
  • Dec 4, 2012 4:30pm Dec 4, 2012 4:30pm
Hi there,

I’ve just spotted another interesting setup for this week. CADLFX (aka Cad Index) is showing a nice Bullish Pinbar,so I’m watching all CAD pairs. A sell stop has been placed on EURCAD with a good Risk:Reward Ratio,NZDCAD could be a viable setup as well,but the pinbar location is not so nice. I don’t know if my pending order will be activated,but could be a potentially profitable trade

By the way..my last trade on GBPCHF hitted my take profit, +77 pips in my pocket..eheheh.Comments and details are printed straight on the charts,see below

P.S.
hey guys,where is now the "preview" button for the posts????

http://mytradesontheblog.files.wordp...dic.gif?w=1176
http://mytradesontheblog.files.wordp...dic.gif?w=1176
http://mytradesontheblog.files.wordp...dic.gif?w=1176
http://mytradesontheblog.files.wordp...ted.gif?w=1176
Account deleted
  • #121,420
  • Dec 4, 2012 4:47pm Dec 4, 2012 4:47pm
Quoting mbqb11
Hey CoT

Yes I would say that price is looking to make a push lower but that doesn't change that it is trading into traffic which can make the mgmt aspect of it more tricky. As opposed to the pinbar that was at a nice swing low with nice room to move.

I marked some notes on your chart

Hope it helps
Mike
Thanks Mike, starting to get a good idea of how "space" works for a prospective trade.

Do you ever take trades like this one or do you always wait for A+ setups? I ask because in one of the vids on the guest material @ j16.us, James says that you need to learn to trade sideways markets...otherwise you'll find it very difficult to be profitable.
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