Hey Jarroo! Can you explain me one thing? How did I know that price wanted to reject HCR level and go down but not to break it through? Where could I set sell order in this case?
Sorry for my bad English..
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI have been reading this thread a bit and I have to say I am intrigued with this method. I am guessing LCS is (Lower close support) and HCR is (Higher close Resistance) is this correct? I understand buob and beob bullish and bearish outside bars. Is there a list of these here somewhere that I could get myself aquainted with? Like PBR and the others? I am actually going to try and follow this thread as I have been studying Techanical analysis for about 3 years and I am to the point in my own analysis that I use price action, S&R, and TL's. Glad I...Ignored
DislikedHi kgibson5, welcome to the thread.
Pinbar made a useful list of terminology, here is link
http://www.forexfactory.com/showthre...=1#post6054503Ignored
DislikedI'm just reading up on Jarroo's method. Can Jarroo or anyone else who knows the method well confirm if this would have been a valid trade? I just want to make sure I'm on the right track.Ignored
Dislikeddont know if I qualified enough to represent it , but ...in my view... yes its valid and you must take some profit already or lock with stp loss some pips at least around the level of these previous candles highs on the left cause they are your first targets.
amazing simple incredible method to take highs/ or lows of the day isnt it?Ignored
DislikedThanks for the feedback.
I've been doing some visual backtesting and if I'm understanding the basic concept - yes, looks great. I've been going back through Jarroos charts and if I'm honest, I'm not understanding a few of them, but as I say, I've just started looking into the method.
I read the PDF document produced by Chanya over the weekend (That's great by the way, so much easier than going through this thread again ). One thing I'm not so sure about though is Chanya saying he/she sees 2-8 of these set ups per day?! Is that right?!Ignored
DislikedThanks for the feedback.
I've been doing some visual backtesting and if I'm understanding the basic concept - yes, looks great. I've been going back through Jarroos charts and if I'm honest, I'm not understanding a few of them, but as I say, I've just started looking into the method.
I read the PDF document produced by Chanya over the weekend (That's great by the way, so much easier than going through this thread again ). One thing I'm not so sure about though is Chanya saying he/she sees 2-8 of these set ups per day?! Is that right?!Ignored
DislikedCould you post the link to Chanya's .pdf so I can study it? ThanksIgnored
DislikedI like those Monthly levels Steve . .we'll keep an eye on them . .
Any line ups with them on the Weekly or Daily? . .meaning are they lining up with any Weekly or Daily HCR/LCS levels.
JimIgnored
DislikedHey Jarroo! Can you explain me one thing? How did I know that price wanted to reject HCR level and go down but not to break it through? Where could I set sell order in this case?Ignored
DislikedHey Steve . .yeah, you had every right to be sidetracked with that BUOB. Many times what breaks these confirmed levels of S/R (Resistance in the case) is strong PA. If that Weekly BUOB had Closed above those Support levels (LCSs) on Weekly or even the Daily, I would had been right with you. A 4 Hour Close Above may have given an early jump if it Closed above both Weekly LCSs.
We'll keep an eye on these levels . .we may start consolidating between them . .
Interesting where Price Closed for the week . .right on that Weekly LCS level . .
Jim...Ignored