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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

  • #131,941
  • Aug 25, 2014 9:03am Aug 25, 2014 9:03am
Quoting HiArt
Apologies if this has been covered before, but with so much information on here I may have missed the answer. Noobie mistake, but I seem to have charts with a plethora of fibs and PPZ lines; sometimes it is hard to see the candles. How do I determine which fibs and PPZs are important? Is this approach reasonable: Fib on weekly covering year high/low Fib on weekly using most recent peak formation high/low Fib on daily covering most recent peak formation high/low On daily two or three PPZs above current price based on most recent resistance, if looking...
Hey HiArt

The best tip I give to people starting to draw PPZs is realize that we are going to have everything from very major PPZs to very minor PPZs. Start by drawing and looking for the very major obvious PPZs. Keep the minor PPZs off your charts. Look for confluence or stories around the major PPZs to trade. Then once in a trade draw your FTA(ftas) and minor PPZs. Use those for trade mgmt. Too many people try to trade off every S/R area and thus as you can see will lead to a lot of trading cause we have s/r all over the place. This is something I find can help

Best
Mike
  • #131,942
  • Aug 25, 2014 9:11am Aug 25, 2014 9:11am
Quoting mbqb11
{quote} Hey HiArt The best tip I give to people starting to draw PPZs is realize that we are going to have everything from very major PPZs to very minor PPZs. Start by drawing and looking for the very major obvious PPZs. Keep the minor PPZs off your charts. Look for confluence or stories around the major PPZs to trade. Then once in a trade draw your FTA(ftas) and minor PPZs. Use those for trade mgmt. Too many people try to trade off every S/R area and thus as you can see will lead to a lot of trading cause we have s/r all over the place. This is...
Sorry, but what means ppz?
  • #131,943
  • Aug 25, 2014 9:27am Aug 25, 2014 9:27am
Quoting mbqb11
{quote} Hey D For me here the key makeup is the boxing effect. Trying to anticipate if price gets passed these boxes is a bit far off for me(for some of your further targets). Right now price is just stuck in another box. For me the question would be based on your entry what is it that makes you think price should get that far as opposed to say taking profit at the major points of the box(at this point box bottom).Being such a strong support area i'd rather be out now and then re-evaluate if we get new PA indicating a further short is coming,. I...
Hi Mike,
thanks for your wise thoughts. You are right, it`s better to take profit at major key areas than waiting for the homerun....what does the term "singles and doubles" mean, please?
Have a nice day
  • #131,944
  • Aug 25, 2014 9:34am Aug 25, 2014 9:34am
Quoting nc_trader
{quote} Sorry, but what means ppz?

Hi NC Trader,


Price Pivot Zone.

Here is the James16 abbreviation chart for you.

Regards,

Steve.





Quoting Learn2b
Hello all,

This is the best price action forum I have ever visited.

Thank you all for the charts and educational discussion.

By the way what is BRNs?

Cheers
BRN = Big Round Number
VBRN = Very Big Round Number
Attached File
http://assets.forexfactory.net/images/attach/xls.gif James16 Strategy Abbreviations.xls 20 KB | 662 downloads
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #131,945
  • Aug 25, 2014 9:50am Aug 25, 2014 9:50am
Quoting doerpn
{quote} Hi Mike, thanks for your wise thoughts. You are right, it`s better to take profit at major key areas than waiting for the homerun....what does the term "singles and doubles" mean, please?
Baseball terms! Single = getting to 1st base and double = getting to 2nd base from batting.
Follow me on twitter @FxLester
  • #131,946
  • Aug 25, 2014 11:09am Aug 25, 2014 11:09am
Quoting FxLester
{quote} Baseball terms! Single = getting to 1st base and double = getting to 2nd base from batting.
Hi Lester,
thanks a lot....you are posting as if not beeing on travel for 3 months.
Yes, it`s difficult to stay away from this thread.
All the best to you.
Have a nice day
  • #131,947
  • Aug 25, 2014 12:45pm Aug 25, 2014 12:45pm
Quoting FxLester
{quote} Hi Xamarass, This short was a tricky one. I personally would have taken profit or moved to saftey (BE) very long ago. Here were the areas I saw. {image}
Thanks FxLester, I undestood the mistake in my trade design:
1 - TP was not placed rightly (if it was properly setted now I would have closed the trade with profit) -> with the TP you
called "minor reversal" or "medium term low"
2 - I didn't move the SL to BE when was possible

I think that's a good example of common beginner mistake
Thanks
Xam
  • #131,948
  • Aug 25, 2014 3:16pm Aug 25, 2014 3:16pm
My trade on EUR/JPY.

I like this ascending channel, and the daily descending channel breakout
http://s11.postimg.org/u895lmi1v/EURJPYH4.png
imgur


http://s10.postimg.org/d2n8dynk9/EURJPYDaily.png
post image
  • #131,949
  • Aug 25, 2014 5:57pm Aug 25, 2014 5:57pm
Quoting doerpn
{quote} Hi Lester, thanks a lot....you are posting as if not beeing on travel for 3 months. Yes, it`s difficult to stay away from this thread. All the best to you.
Thanks doerpn! I got sunburnt really badly when snorkelling 2 days ago and so spent all of yesterday indoors watching cable and checking out the thread! It's hard to keep a trader away from charts

Quoting Xamarass
{quote} Thanks FxLester, I undestood the mistake in my trade design: 1 - TP was not placed rightly (if it was properly setted now I would have closed the trade with profit) -> with the TP you called "minor reversal" or "medium term low" 2 - I didn't move the SL to BE when was possible I think that's a good example of common beginner mistake Thanks Xam
No worries! It was a good one to learn from.
Follow me on twitter @FxLester
  • #131,950
  • Aug 26, 2014 12:01am Aug 26, 2014 12:01am
Quoting nc_trader
My trade on EUR/JPY. I like this ascending channel, and the daily descending channel breakout {image} imgur {image} post image
hi,

these EUR movements in the buy direction is just short term. EUR is having major Sell weight.
It will soon recover.

A
  • #131,951
  • Aug 26, 2014 11:06am Aug 26, 2014 11:06am
50+ pips in my direction and we have BE.

CADJPY

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  • #131,952
  • Aug 26, 2014 12:36pm Aug 26, 2014 12:36pm
Quoting zamfir
50+ pips in my direction and we have BE. CADJPY {image}
ok, now you lost me . although i saw this type of touch-trades at James16, Im not sure i understand why you entered long right after a strong bearish candle? is it because it didnt engulf the previous bullish pin candle and it closed at an ex-resistance actual support area?

thanks in advance.
Market can stay irrational longer than you can stay solvent.
  • #131,953
  • Aug 26, 2014 1:10pm Aug 26, 2014 1:10pm
Quoting FXBat
{quote} ok, now you lost me . although i saw this type of touch-trades at James16, Im not sure i understand why you entered long right after a strong bearish candle? is it because it didnt engulf the previous bullish pin candle and it closed at an ex-resistance actual support area? thanks in advance.

This is nothing new. I learned this setup from the James and all by looking at his charts posted right here. you too can do this. you need to look for it. I could tell you how and why , but you will not understand it because you are not looking at the charts the way i do. This is the hard part of teaching trading to some one and that too over a forum. It's not hard if you look at the right things. It's a different kind of appreciation when you learn something by yourself.

Most people will feel frustrated and probably give up reading what i said above. Are you going to give up?.

It's all on the chart in plain sight if you know what to look for.
  • #131,954
  • Aug 26, 2014 1:37pm Aug 26, 2014 1:37pm
Hi All,
anyone interested to comment AUDJPY
pin bar short H4
buy @ 96,89
SL @ 97,05
TP @ 96,46

thanks for your comments on my trades
Xam
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  • #131,955
  • Aug 27, 2014 12:00am Aug 27, 2014 12:00am
EUR/NZD BE for now...

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  • #131,956
  • Aug 27, 2014 2:29am Aug 27, 2014 2:29am
Quoting Xamarass
Hi All, anyone interested to comment AUDJPY pin bar short H4 buy @ 96,89 SL @ 97,05 TP @ 96,46 thanks for your comments on my trades Xam {image}
I'm not sure this was a good idea to trade this pin, because it is inside the box. If you follow MPBQ's posts and videos you'll notice that he tell us over and overagain be very careful whtn trading sideways markets. It would be a good one it it occured at previous swing high.
If not up, then down, otherwise sideways :-)
  • #131,957
  • Aug 27, 2014 3:15am Aug 27, 2014 3:15am
Hello friends. I was not in the market about 3 weeks, only watch, was a lot of work and I cant properly analyse. And yesterday I made 2 trades. Now I am in BE. Think what to do further . Here they are
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So as a result I have 3 trades on august: 1 in profit (cadjpy, I posted it here) and these 2 in BE as minimum. I think its good. Thank you my friends for your help and priceless methods. Need to learn more.
  • #131,958
  • Aug 27, 2014 5:30am Aug 27, 2014 5:30am
Quoting dvimix
Hello friends. I was not in the market about 3 weeks, only watch, was a lot of work and I cant properly analyse. And yesterday I made 2 trades. Now I am in BE. Think what to do further . Here they are {image} {image} {image} {image} So as a result I have 3 trades on august: 1 in profit (cadjpy, I posted it here) and these 2 in BE as minimum. I think its good. Thank you my friends for your help and priceless methods. Need to learn more.
Nice trading dvimix!
CADCHF is reaching some long term highs near 0.84150. Might be a logical target. Although, if price blasts through, then the area can hold as support and you may have yourself an even longer term trade on your hands.
You're at safety on all your trades and this is a wonderful thing. Great trading!
Follow me on twitter @FxLester
  • #131,959
  • Aug 27, 2014 6:13am Aug 27, 2014 6:13am
Quoting Xamarass
Hi All, anyone interested to comment AUDJPY pin bar short H4 buy @ 96,89 SL @ 97,05 TP @ 96,46 thanks for your comments on my trades Xam {image}
Hi Xamarass,
always look at the bigger picture.....I just opened a buy trade.
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Have a nice day
  • #131,960
  • Edited 8:59am Aug 27, 2014 7:49am | Edited 8:59am
GBP/USD 3 Bar Low (1.6536-37)?
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