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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

  • #125,661
  • May 25, 2013 7:28pm May 25, 2013 7:28pm
Quoting jarroo
{quote} You nailed it Steve . . . . Let me show some more charts GbpAud 5/23 Daily and Hourly SFP . . and how HCR/LCS levels were applied or used for entries , targets, exits, etc. Jim {image}
more Charts . .
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Indicators show the past. Price Action "Indicates" the future.
  • #125,662
  • May 25, 2013 7:39pm May 25, 2013 7:39pm
Quoting jarroo
{quote} You nailed it Steve . . . . Let me show some more charts GbpAud 5/23 Daily and Hourly SFP . . and how HCR/LCS levels were applied or used for entries , targets, exits, etc. Jim {image}
Thanks for all your hard work on this Jim.

So basically, you now have three confirmations of a Bearish bias, 1: your HCR, 2: The SFP & 3: the PB hourly signature.

Funny, how both methodologies complement each other, I suppose it is because they are both signs of liquidity and people exiting trades at these areas, thus reversing their positions.
  • #125,663
  • May 25, 2013 7:47pm May 25, 2013 7:47pm
Quoting jarroo
{quote} more Charts . . {image} {image} {image}

Yes, price is hitting its targets to the pip.
Simply amazing how, your levels are not only entry and exit levels but also, great areas to manage the trade logically and without emotion.
  • #125,664
  • May 25, 2013 7:55pm May 25, 2013 7:55pm
Quoting Pinbar
{quote} Thanks for all your hard work on this Jim. So basically, you now have three confirmations of a Bearish bias, 1: your HCR, 2: The SFP & 3: the PB hourly signature. Funny, how both methodologies complement each other, I suppose it is because they are both signs of liquidity and people exiting trades at these areas, thus reversing their positions.
Quoting Pinbar
{quote} Yes, price is hitting its targets to the pip.Simply amazing how, your levels are not only entry and exit levels but also, great areas to manage the trade logically and without emotion.
. .just by following the Close of Price on the Hourly at these Higher TF levels . ..

Each one of those red "Xs" is where you would take Full or partial profits and/or manage the trade . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #125,665
  • May 25, 2013 8:01pm May 25, 2013 8:01pm
Quoting jarroo
{quote} {quote} . .just by following the Close of Price on the Hourly at these Higher TF levels . .. Each one of those red "Xs" is where you would take Full or partial profits and/or manage the trade . . Jim
It's starting to fit into place.
Just when we think, we are confused, something clicks.
  • #125,666
  • Edited 8:24pm May 25, 2013 8:07pm | Edited 8:24pm
Quoting Pinbar
{quote} It's starting to fit into place.Just when we think, we are confused, something clicks.
This one was sweet on the EurAud . .nice confluence with the 50% Ret. and Trend Line on the Hourly . .Hourly Signatures . .and Lows of the Day . ..

. .again, it all starts with the Higher TF levels . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #125,667
  • May 25, 2013 8:12pm May 25, 2013 8:12pm
Quoting jarroo
{quote} This one was sweet on the EurAud . .nice confluence with the 50% Ret. and Trend Line on the Hourly . .Hourly Signatures . .and Lows of the Day . .. . .again, all starts with the Higher TF levels . . Jim {image} {image}
Forgot to post this Daily chart on the EurAud. .
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Indicators show the past. Price Action "Indicates" the future.
  • #125,668
  • May 25, 2013 8:44pm May 25, 2013 8:44pm
I hear you Jim.

And even when we look at M5 at this level, we can see plenty going on.
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  • #125,669
  • May 25, 2013 8:55pm May 25, 2013 8:55pm
Quoting Pinbar
I hear you Jim. And even when we look at M5 at this level, we can see plenty going on. {image} {image}
I hear you back, Steve . .

I don't know how people trade the 5min or 15min TFs without knowing these Higher TF levels. .

. . or knowing the market environment they're trading in, on the Higher TFs . .meaning, are we in Space on the Daily or in Consolidation on the Daily?, . .did we just breakout of a Weekly Price Pattern? . .are we in the middle of the market? . .are we at a Swing High or Swing Low on the Daily? . .etc.

Its a mystery to me how they do it without the above info . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #125,670
  • May 25, 2013 8:59pm May 25, 2013 8:59pm
Nobody expects the Spanish Inquisition into the M5 TF. LOL

Yeah, yet many seem to, just as well for us or, who would be on the wrong side of the fence pushing price down or up at SFPs?

Better erase that comment about the M5 traders Jim, or we will be as broke as a one armed fiddler, before too long.
  • #125,671
  • Edited May 26, 2013 12:31pm May 25, 2013 9:05pm | Edited May 26, 2013 12:31pm
Quoting Pinbar
Nobody expects the Spanish Inquisition into the M5 TF. LOL Yeah, yet many seem to, just as well for us or, who would be on the wrong side of the fence pushing price down or up at SFPs? Better erase that comment about the M5 traders Jim, or we will be as broke as a one armed fiddler, before too long.

Trust me, my comments aren't going to stop those traders . .lol . .

Nobody expects the Spanish Inquisition . . .lol


Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #125,672
  • May 25, 2013 9:19pm May 25, 2013 9:19pm
Yeah, hard to tell the wood from the trees on M5, without the Higher TF levels.
Inserted Video


This is a widely overlooked MP sketch.

I like the stock broker in the coffin.
  • #125,673
  • May 25, 2013 9:35pm May 25, 2013 9:35pm
Quoting Pinbar
Yeah, hard to tell the wood from the trees on M5, without the Higher TF levels.http://www.youtube.com/watch?v=gdA23nHT1Zs This is a widely overlooked MP sketch. I like the stock broker in the coffin.
That one's a classic . .
Indicators show the past. Price Action "Indicates" the future.
  • #125,674
  • May 26, 2013 5:02am May 26, 2013 5:02am
Quoting jarroo
{quote} That is correct .. or an entry on the Close of the DCC.
Thanks
  • #125,675
  • May 26, 2013 5:37am May 26, 2013 5:37am
Quoting jarroo
{quote} more Charts . . {image} {image} {image}

AWESOME EXAMPLE JIM!!!

Very nice trade(s). May I ask whether you use the SFP PB high as your place for the initial stop or whether you use some other form of setting your initial SL?
  • #125,676
  • May 26, 2013 5:57am May 26, 2013 5:57am
Quoting jarroo
{quote} This one was sweet on the EurAud . .nice confluence with the 50% Ret. and Trend Line on the Hourly . .Hourly Signatures . .and Lows of the Day . .. . .again, it all starts with the Higher TF levels . . Jim {image} {image}
Hi Jim,

Thanks for this example. Very nice one once again

Did you play both tests? If so, how did you get in on the first one as this did not quite hit the Daily HCR (low was 2-3 pips above the level)? Do you always use a little buffer zone to enter?

Do signatures qualify as such even if they fall short of the level by a few pips on their test (as in the first test here)?

Where did you place your SL in this example and how did you manage the trade?

Sorry for posting all these questions, but I must admit that I really like your method and would be quite interested in how exactly you play it. Of course I am fully aware that each person will trade it/manage the trade slightly differently due to their personality, but I would greatly appreciate your input here nevertheless.

A BIG thanks in advance!!!
  • #125,677
  • May 26, 2013 10:39am May 26, 2013 10:39am
Crikey !
I was just reading some earlier posts on this thread and came across references to "Jacko."
Is this the same chap who turned out to be a scammer ?
http://www.forexfactory.com/showthre...27286&page=654

Seems people were silly enough to let him handle their money. Lesson - stay here folks - it's safer
every Saint has a past. Every Sinner has a Future
  • #125,678
  • May 26, 2013 11:13am May 26, 2013 11:13am
yep it's true T, it's a scary thing. Learn to trade your own money then one always controls their fate. I like the idea of that. Of course anything else should be done very fromally and legally with the right steps to protect all sides.

Chart I will be watching. We had some nice bearish action late in the week, maybe this one is next

Good confluence and pattern
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  • #125,679
  • May 26, 2013 12:19pm May 26, 2013 12:19pm
Is this the kind of thing we are looking for? Bearish outside bar at a weekly high? What are some thoughts on this chart?
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  • #125,680
  • May 26, 2013 12:41pm May 26, 2013 12:41pm
Quoting timo4sho
{quote} AWESOME EXAMPLE JIM!!! Very nice trade(s). May I ask whether you use the SFP PB high as your place for the initial stop or whether you use some other form of setting your initial SL?
Yes, you can use the classic PA S/L placement . .above or below the PA setup itself.

Or use the Hourly ATR amount above the Close or High of the Hourly SFP as Tom (The Wizard) would use. Tom would use the Hourly ATR amount above the High of the Hourly SFP or "Pin bar".
Indicators show the past. Price Action "Indicates" the future.
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