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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

  • #122,661
  • Jan 18, 2013 4:11pm Jan 18, 2013 4:11pm
Quoting iuliu00
Thank you, Michael,
You are my greatest teacher.I`ll show you my results at the and of my first year live trading.No full bar loss till now .
I am glad you are progressing well

Thanks for the kind words, all credit to James, just helping like he has shown

Best
Mike
  • #122,662
  • Jan 18, 2013 4:12pm Jan 18, 2013 4:12pm
Quoting shunfeng
excellent charts posted here!
I've learned a lot from you guys.
I've one question: is any chart at lower TF welcome? ex: M5 M15
yours,
shunfeng
Hey Shunfeng

Welcome to the thread glad its helping

Many of us trade all kinds of timeframes. You will see a big emphasis on telling new traders and struggling trades to learn the daily/weekly timeframes first. Many traders get killed for years on the lower timeframes, so it's a big emphasis point here. You will see lots of lower timeframes(under daily here) as well. Ultimately price action is price action so we welcome all

Again welcome

Mike
  • #122,663
  • Jan 18, 2013 5:35pm Jan 18, 2013 5:35pm
Hello everyone, i've just read all important posts of this thread, and this is my first post, and now i start to practiсe.

Sorry for my imperfect english, im russian

Look at this pin bar, is it okay? it has pierced the 23.6 fib level, there is the round number 1.330, and as i understand there is the r/s. is it right?

i'm ready for any criticism

http://clip2net.com/clip/m185521/135....png?nocache=1
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  • #122,664
  • Jan 18, 2013 5:50pm Jan 18, 2013 5:50pm
Quoting sloker
Hello everyone, i've just read all important posts of this thread, and this is my first post, and now i start to practiсe.

Sorry for my imperfect english, im russian

Look at this pin bar, is it okay? it has pierced the 23.6 fib level, there is the round number 1.330, and as i understand there is the r/s. is it right?

i'm ready for any criticism

http://clip2net.com/clip/m185521/135....png?nocache=1
Hey Sloker

First welcome to the thread and your English is great! Can't stress enough how impressed I am by so many of you non native english speakers tackling this on. I couldn't do that, that's for sure.

Be careful here. There is a bunch that worries me

Here is the list

- Price is in a box
-mid point of the box is a PPZ(so your pin is trading back into the PPZ) This is the purple line)
-Pin has no space(see my video called space vs traffic in guest area).


Hope this helps
Mike
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  • #122,665
  • Jan 18, 2013 5:55pm Jan 18, 2013 5:55pm
Quoting LamerTrader
There are no words to express how thankful I am.
Thanks a LOT!



Cheers
Stephen
quite welcome my friend
  • #122,666
  • Jan 18, 2013 7:20pm Jan 18, 2013 7:20pm
Quoting rolo1128
Not sure but there is a Monthly PPZ w/ the MHCR and MLCS there.

If this monthly bar closes below, look for shorts?? If above, longs?? Maybe.

Or did it already touch and is going to continue south??

Attachment

Ok, not sure if you are aware of this but, from your reply it appears not.

I asked why that Monthly H&S was forming on the Monthly because, a H&S pattern is usually a BEOB or a PB on one time frame up.

As you can see these two Daily H&S patterns on the daily are actually a PB & a BEOB one tf up.
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  • #122,667
  • Edited 7:51pm Jan 18, 2013 7:30pm | Edited 7:51pm
Quoting Chato
Hello!
At the age of 63, after a vacation along the Mississippi River (Chicago/New Orleans) last year, I bought an acoustic guitar and now I'm studying with a great teacher. My goal is learn to play blues in fingerpicking style.

Great Chato, I got my first electric guitar at 55.
We are never too old for something new, just too old for something Blue.
Incidentally, what guitar did you buy?
I am currently thinking of getting a Martin but, they are really expensive here in China.
Unless, you buy a knock off. which are abundant.

Hope you end up playing Like Big Joe Williams.

You will have to put three extra strings on your guitar though. LOL

The only guy to have played a 9 string guitar.
Inserted Video
  • #122,668
  • Jan 19, 2013 5:22am Jan 19, 2013 5:22am
Oi guys!

I was looking through the charts, and planning what to trade next week - and I came across this:
What do you think?

My lamy opinion:
The price broke through the area - and now retested it on Friday. So shall we take our sniper rifle and wait what happens and then shoot for a buy? Or is it too risky since we are not at swing high/low?
Cheers
Stephen

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It's all psychology...
  • #122,669
  • Jan 19, 2013 5:44am Jan 19, 2013 5:44am
Any ideas what kind of "set up" this can be?
Since I'm new to trading I can proudly say: "I have never seen anything in my life before" :nerd:

Cheers
Stephen

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It's all psychology...
  • #122,670
  • Edited 7:27am Jan 19, 2013 7:00am | Edited 7:27am
Quoting mbqb11
Hey Sloker

First welcome to the thread and your English is great! Can't stress enough how impressed I am by so many of you non native english speakers tackling this on. I couldn't do that, that's for sure.

Be careful here. There is a bunch that worries me

Here is the list

- Price is in a box
-mid point of the box is a PPZ(so your pin is trading back into the PPZ) This is the purple line)
-Pin has no space(see my video called space vs traffic in guest area).


Hope this helps
Mike
Thanks Mike, i haven't heard of these things like box and mid point of the box (i think it's called flat as well, right? and the mid point of this flat is an important line), so i should learn more about that things.

and okay, i'll see this video, gonna be interesting =)
  • #122,671
  • Jan 19, 2013 8:00am Jan 19, 2013 8:00am
Quoting LamerTrader
Any ideas what kind of "set up" this can be?
Since I'm new to trading I can proudly say: "I have never seen anything in my life before" :nerd:

Cheers
Stephen

Attachment
I think you can establish a Fib retracement between the high in August and low in September to see if there is a potential resistence and suport or not

here is my analysis with Fib



yours,
shunfeng
The candle pattern is the signal, the inevitability behind it is the key.
  • #122,672
  • Jan 19, 2013 8:06am Jan 19, 2013 8:06am
sorry in the last post, I could not upload the picture on AUDCHF in the "edit" mode.

personally speaking, the candlestick is showing an "expansion" as the wicks of the last candles expand instend of shrinking.
as there is a support below these three last candles and all of them "touch" the Fib support line, we can say that there is a HIGHER probability that the price is going to move up.

However, it is probably better to wait for at least another candle to trigger the trading.


yours,
shunfeng
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The candle pattern is the signal, the inevitability behind it is the key.
  • #122,673
  • Jan 19, 2013 11:48am Jan 19, 2013 11:48am
Quoting LamerTrader
Any ideas what kind of "set up" this can be?
Since I'm new to trading I can proudly say: "I have never seen anything in my life before" :nerd:

Cheers
Stephen

Attachment
Hey Stephen

That is a neutral bar since you have equal tails on that last bar and open and close near the middle of the bar. This bar indicates indecision in the market place

Best
Mike
  • #122,674
  • Jan 19, 2013 11:52am Jan 19, 2013 11:52am
Quoting sloker
Thanks Mike, i haven't heard of these things like box and mid point of the box (i think it's called flat as well, right? and the mid point of this flat is an important line), so i should learn more about that things.

and okay, i'll see this video, gonna be interesting =)
Hey Sloker

A box is simply an area of consolidation. So price is contained within two major points the top of the box(resistance) and bottom(support). These S/R make up the box or consolidation. The midpoint of a consolidation is going to be a PPZ, or a flip between support and resistance.

Here is more information to get you started on PPZs
http://www.forexfactory.com/showthre...16#post2252116

example of boxing and PPZ
http://www.forexfactory.com/showthre...pz#post5983314


Best
Mike
  • #122,675
  • Jan 19, 2013 1:58pm Jan 19, 2013 1:58pm
col on weekly. pinbar at round number protruding well in fresh ground and at resistance- & supply-area.
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meine augen sind die sterne
  • #122,676
  • Jan 19, 2013 5:21pm Jan 19, 2013 5:21pm
Guys, please tell me again there i must to put stop on double candles and then to take position, then their wicks are equal price. I need to get small sl

Double bar high with lower low?

Where to take position, aproximately
Where to put stop
  • #122,677
  • Jan 19, 2013 6:11pm Jan 19, 2013 6:11pm
Quoting mbqb11
Hey Sloker

A box is simply an area of consolidation. So price is contained within two major points the top of the box(resistance) and bottom(support). These S/R make up the box or consolidation. The midpoint of a consolidation is going to be a PPZ, or a flip between support and resistance.

Here is more information to get you started on PPZs
http://www.forexfactory.com/showthre...16#post2252116

example of boxing and PPZ
http://www.forexfactory.com/showthre...pz#post5983314


Best
Mike...
Thanks a lot, Mike. I've read everything, you wrote to me. Just the best things i've ever read =) i mean it's a very clear explanation in those posts

Now I'm testing and studying it in history, and I noticed that Gbp/Usd is in consolidation (in box) on weekly TF. And we can see that the price almost touched the PPZ (that's midpoint of this box).

Now i should switch to a lower timeframe to get a better entry, right thoughts?

I'm always open to criticism
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  • #122,678
  • Jan 19, 2013 6:34pm Jan 19, 2013 6:34pm
Quoting Pinbar
Great Chato, I got my first electric guitar at 55.
We are never too old for something new, just too old for something Blue.
Incidentally, what guitar did you buy?
I am currently thinking of getting a Martin but, they are really expensive here in China.
Unless, you buy a knock off. which are abundant.
Hello!

This is my first guitar at the moment, it is made in China but has a very nice sound I love it!
http://usa.lagguitars.com/TRAMONTANE...l-p107114.html
  • #122,679
  • Jan 19, 2013 9:29pm Jan 19, 2013 9:29pm
Quoting Chato
Hello!

This is my first guitar at the moment, it is made in China but has a very nice sound I love it!
http://usa.lagguitars.com/TRAMONTANE...l-p107114.html
Looks great.
I prefer the simple looking guitars to ornate ones.
The quality of Chinese made guitars are getting better and better.
  • #122,680
  • Edited 2:33am Jan 20, 2013 2:20am | Edited 2:33am
crl on weekly and monthly.
smells like a breakout. three strong bullish weekly bars.
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meine augen sind die sterne
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