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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

  • #33,441
  • Jun 15, 2009 7:56pm Jun 15, 2009 7:56pm
Chart speaks for itself...

There is also a Daily Trandline coming in @ 1.3650 area... So this may turn out nicely...

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  • #33,442
  • Jun 15, 2009 8:17pm Jun 15, 2009 8:17pm
Quoting mbqb11
Yep, and a follow up post now that I am back to my computer.

What this means is simple. Ranges are decreasing over X amount of bars, which means price is consolidating, which means the likelihood to see a bigger breakout move increases(in general). So the idea is to find and get in on the breakout move where price finally breaks out of the decreasing daily range trap

Mike
This weekly breakout (Eur/Jpy Weekly I10+B) is cutting through this mess (traffic in green) like butter.
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Indicators show the past. Price Action "Indicates" the future.
  • #33,443
  • Jun 15, 2009 8:46pm Jun 15, 2009 8:46pm
Quoting jarroo
This weekly breakout (Eur/Jpy Weekly I10+B) is cutting through this mess (traffic in green) like butter.
Ooo damn I've been doing exams for the past few days and missed this trade. Just a question on your exit Jarroo, have you got a level you're looking at? The 50 fib of the recent move on daily lines up with 133.0 and the 61.8 fib is at around 131.5.

I'm considering a late entry if we see a retest of the 135.0 level
  • #33,444
  • Jun 15, 2009 9:02pm Jun 15, 2009 9:02pm
Quoting Tipers
Ooo damn I've been doing exams for the past few days and missed this trade. Just a question on your exit Jarroo, have you got a level you're looking at? The 50 fib of the recent move on daily lines up with 133.0 and the 61.8 fib is at around 131.5.

I'm considering a late entry if we see a retest of the 135.0 level
The 133.50 shows a decent PPZ level. I'll look for bullish PA on the Daily at this level for a possible exit or confirming bearish PA to stay with the ride. Retrace PA is not a bad way to go at strong PPZ levels (135.00) if this down trend continues.
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Indicators show the past. Price Action "Indicates" the future.
  • #33,445
  • Jun 15, 2009 9:14pm Jun 15, 2009 9:14pm
Quoting jarroo
The 133.50 shows a decent PPZ level. I'll look for bullish PA on the Daily at this level for a possible exit or confirming bearish PA to stay with the ride. Retrace PA is not a bad way to go at strong PPZ levels (135.00) if this down trend continues.
Cheers for that Jarroo
  • #33,446
  • Jun 15, 2009 9:28pm Jun 15, 2009 9:28pm
Quoting jarroo
The 133.50 shows a decent PPZ level. I'll look for bullish PA on the Daily at this level for a possible exit or confirming bearish PA to stay with the ride. Retrace PA is not a bad way to go at strong PPZ levels (135.00) if this down trend continues.
Hi Jarro
There is a PB on H1.
Would you consider this as possible exit?
  • #33,447
  • Jun 15, 2009 9:53pm Jun 15, 2009 9:53pm
gorubin, Mr_Smith,
the I46B conversation was started (yesterday) by jarroo here..

Read on
jarroo I46B
  • #33,448
  • Jun 15, 2009 10:16pm Jun 15, 2009 10:16pm
Quoting the novice
Hi Jarro
There is a PB on H1.
Would you consider this as possible exit?
The is a great point novice. It shows that you want to manage Price Action on the same time frame that it was taken. The I10+B was taken on the Weekly so I want to view my Targetss, PPZs, possible exits, etc., on the Weekly. I will drop down a time frame and view PA on that level for a more conservative approach. In this case, the Daily.

The Pin Bar on the Hourly would not cause me to exit even if it broke hard. Because in may hit its "targets" (in green) and then contiune down with the higher time frame trend or PA. The same is true with the 4 hour time frame.
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Indicators show the past. Price Action "Indicates" the future.
  • #33,449
  • Jun 15, 2009 10:21pm Jun 15, 2009 10:21pm
Still short aud/usd and long eur/cad. I have to say going on the lake all day and spending 10min on charts is hard work, you guys can have the scalping crap lol. I may do it if it's bad wather thats about it
Keep taking CT trades, I need more money
  • #33,450
  • Jun 15, 2009 10:28pm Jun 15, 2009 10:28pm
Quoting jarroo
The is a great point novice. It shows that you want to manage Price Action on the same time frame that it was taken. The I10+B was taken on the Weekly so I want to view my Targetss, PPZs, possible exits, etc., on the Weekly. I will drop down a time frame and view PA on that level for a more conservative approach. In this case, the Daily.

The Pin Bar on the Hourly would not cause me to exit even if it broke hard. Because in may hit its "targets" (in green) and then contiune down with the higher time frame trend or PA. The same is true with the...
Appreciate that.
  • #33,451
  • Jun 15, 2009 10:43pm Jun 15, 2009 10:43pm
Quoting Ryanmcd
Still short aud/usd and long eur/cad. I have to say going on the lake all day and spending 10min on charts is hard work, you guys can have the scalping crap lol. I may do it if it's bad wather thats about it
Wow , you really quit 5 min for real?
  • #33,452
  • Jun 15, 2009 11:11pm Jun 15, 2009 11:11pm
Quoting jarroo
I like showing live trades (for good or bad) for people to see a different look. To put into action what we talk about here. People can learn from it, mold it to their own style or disregard it all together.


I wish I was available to do the Eur/Jpy Weekly I46B in real time. lol That would have been cool. But the Gpb/Usd trade was probably more beneficial, because it was a break even or small loss trade.

Hello Jarro,

I really hope you can do a demo video on this, like managing the G/U and E/J Trade. It will be really helpful.

I am in process try to minimize the loss even I am comfortable by selecting good PA at certain location.

Maybe you can show a video showing us the process of how you try to manage the GU and EJ trade.

I was in the GU trade today by but having draw down of 100 pips before going green for me, but I really don't feel comfortable with that when I see the big draw down.

I want to learn the skill from you on the trade management to minimize the loss sincerely.

Thanks!

Pippingmama
  • #33,453
  • Jun 16, 2009 12:08am Jun 16, 2009 12:08am
PippingMama,
i think many new traders would find that beneficial.
Not sure if jarroo has extra time to do that, though. He has to enjoy some leisure time too, u know.
If u would follow all his posts, i'm pretty sure u'll have a good picture of how he trades & manages each one. May not contain all the details u specifically need, but pretty good enough.

mean time, if u haven't yet, view & review all the free videos here. I think these would suffice:
james16
  • #33,454
  • Jun 16, 2009 12:23am Jun 16, 2009 12:23am
Quoting PippingMama
Hello Jarro,

I really hope you can do a demo video on this, like managing the G/U and E/J Trade. It will be really helpful.

I am in process try to minimize the loss even I am comfortable by selecting good PA at certain location.

Maybe you can show a video showing us the process of how you try to manage the GU and EJ trade.

I was in the GU trade today by but having draw down of 100 pips before going green for me, but I really don't feel comfortable with that when I see the big draw down.

I want to learn the skill from you on the...
I am not Jarroo but thought I needed myself to say this...

100 pips will never freak you out if it's within good MM criteria.

Jarroo does have a great edge over many others in that he can manage his trades exceptionally well, and it's good that you want to follow his trail,

However make sure you don't look at him as your savior from this so called "DRAW DOWN FEAR"

You must understand that the strategy does not count for risk/reward ratios and hence may point towards a certain degree of significant risk when you enter. And it's for this reason alone why being picky is like being in the driver's seat.

Since you're still in the process of learning to look for high probability trades, me thinks you should just focus on taking only the great setups, when you do and you know you're not ready to sacrifice anything more than 2% of your account by keeping an Sl on the opposite end of the PA bar no way can any 100 pips make you go looking for advanced stuff...Jarroo's stuff is advanced (talking abt MM ofcaorse)

For now focus only on getting your entries right most of the time with an SL at the other end, moving stops quickly, taking partial profits and understanding the mechanics of ppzs...

Leave the advanced stuff to a more settled mature mindset. I promise you will be doing all of what Jarroo does (maybe better) some day...that day is not today...and expecting it to be today or next week or next month won't do you too good just as an ambitious 16 year old student studying medicince would faint if he dug into a human corpse instead of giving an inetrmediate Biology paper

All the best.

Regards,
Ghous.
I believe . . .
  • #33,455
  • Jun 16, 2009 12:43am Jun 16, 2009 12:43am
I am playing aggressive here :-)

Well, this is inspired by Mike's latest webinar.

First, we have a huge bearish outside bar breaking the top PPZ. Then, the second PPZ provided a weak support and retrace back to the first PPZ. I am selling here. The stop is a little above the first PPZ.

Ken
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  • #33,456
  • Jun 16, 2009 12:51am Jun 16, 2009 12:51am
Usd/Cad...
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I believe . . .
  • #33,457
  • Jun 16, 2009 12:58am Jun 16, 2009 12:58am
Quote
the second PPZ provided a weak support and retrace back to the first PPZ.
goodtiding5,
what do u mean by "weak support"? why is it termed as "weak"?

thanks for the affirmation. my plotted PPZs (near the current price) are 1.6230 & 1.6350.
If your second PPZ does not hold, then 1.61, then likely the 1.5950 area & more.
  • #33,458
  • Jun 16, 2009 12:59am Jun 16, 2009 12:59am
Quoting goodtiding5
I am playing aggressive here :-)

Well, this is inspired by Mike's latest webinar.

First, we have a huge bearish outside bar breaking the top PPZ. Then, the second PPZ provided a weak support and retrace back to the first PPZ. I am selling here. The stop is a little above the first PPZ.

Ken
Good stuff Tiding...The idea is correct...

What I however would have been wary off is the 1624 brick wall, This isn't a "weak support area"

Regards,
Ghous.
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I believe . . .
  • #33,459
  • Jun 16, 2009 1:00am Jun 16, 2009 1:00am
Quote
Usd/Cad...

ghous,
you are taking on multiple trades? with exams to boot....
How's that possible?
  • #33,460
  • Jun 16, 2009 1:19am Jun 16, 2009 1:19am
Quoting supremeChaos
ghous,
you are taking on multiple trades? with exams to boot....
How's that possible?
I recall myself posting something like...

"My demo's been a great support in these stressful times for me"

It's a treat when you can take some time off something you don't enjoy doing to undertake something you love to do.

I can actually give my credits to the thread and my mt4 for a great exam session...one more exam to go and I am relaxed as hell.
I believe . . .
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