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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

  • #79,821
  • Nov 11, 2010 10:54pm Nov 11, 2010 10:54pm
Quoting ahendon
Hi my name is Aaron and I am an overtrader.

HI AARON

I didn't intend to speak today. Matter of fact, I wasn't gonna come to the meeting ... But I wanna say a couple of things I hope may be of use, particularly, to the new faces here. I first came into this thread 2 months ago. I read the thread convinced it was gonna be just like all the others – why woulda a bunch of REAL traders want to help me? -Then someone wrote a post, I think it was James or Mike or Diallist, or maybe it was a video, and talked about chasing trades – lowering...

My name is Jim (Jarroo) and I was an overtrader.


HI JARROO


Hey Aaron . .Welcome Home . . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,822
  • Nov 11, 2010 10:56pm Nov 11, 2010 10:56pm
Quoting jarroo
lol funny one Pb.

Yeah, I was hoping it would be time to buy real estate in Hollywood.


Got me eye on UJ , just in case.
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  • #79,823
  • Nov 11, 2010 11:11pm Nov 11, 2010 11:11pm
Quoting NosferatuMan
Trade management is probably the most difficult thing about trading (at least that is what I'm founding after several months of demo trading - still demoing )

I guess the best is james16 and Jaroo's aproach. Quickly TP or protect yourself moving SL to BE. I normally do that but sometimes I use something more like mike's approach.
(this is why I think management is hard cause I haven't yet decided what is best - or maybe the best for me is a blend between the 2 strategies).

This was (still is) my strategy for EURGBP recent trades:

Nice BEOB...

Great post and great trade.


Are you at breakeven at the .8750?
If so, I would be protecting that nicely earned profit .. say at least to the .8650 . . don't know how long term you're playing this one.

Just some thoughts . . .nicely done . . Price broke through and closed below the .8500.
Indicators show the past. Price Action "Indicates" the future.
  • #79,824
  • Nov 11, 2010 11:14pm Nov 11, 2010 11:14pm
Quoting Pinbar
Yeah, I was hoping it would be time to buy real estate in Hollywood.


Got me eye on UJ , just in case.

I like it Pb. I like that 83.00 . . nice confluences there.

Now you're getin it.
Indicators show the past. Price Action "Indicates" the future.
  • #79,825
  • Nov 11, 2010 11:15pm Nov 11, 2010 11:15pm
Quoting Pinbar
Jarroo,

You were right, James16 mini dow video was really great and it answered a lot of questions I had about how he uses floor trader pivots in those markets.
They are just another confluence factor and nothing more, while everyone else is buying and selling blindly at them. Crazy thought is it not.


The passion of the Big Guy just oozes out of that video..."It's Garbage, It's all Garbage". I think he had some of those listeners to the webinar worried for a second there. "What's Garbage" one of them asks in a very surprised manner....

ditto . .great stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #79,826
  • Nov 11, 2010 11:29pm Nov 11, 2010 11:29pm
Quoting Pinbar
Sorry, must have missed this.

No, that mini dow video is in the PF section.
Thanks PB, maybe some day I'll watch it too
  • #79,827
  • Nov 11, 2010 11:30pm Nov 11, 2010 11:30pm
Quoting mbqb11
My thank you to all the vets out there and my blessings with all those that were lost serving to give us all the freedom we often take for granted

Amen brother.
Indicators show the past. Price Action "Indicates" the future.
  • #79,828
  • Nov 11, 2010 11:32pm Nov 11, 2010 11:32pm
Quoting mbqb11
My thank you to all the vets out there and my blessings with all those that were lost serving to give us all the freedom we often take for granted
It's almost over on the west coast but I just wanted to express my gratitude as well on this Veteran's Day too. Thank you!
  • #79,829
  • Nov 11, 2010 11:40pm Nov 11, 2010 11:40pm
Quoting mbqb11
chart for C from the chat room

I missed the chat . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,830
  • Nov 11, 2010 11:48pm Nov 11, 2010 11:48pm
Quoting Pinbar

They say or rather Jarroo says, "Waiting is trading". Waiting for the right setup at the right time.

I believe that was bundyraider that coined that phrase . . Waiting is trading.

I haven't seen him here in a long time . . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,831
  • Nov 11, 2010 11:50pm Nov 11, 2010 11:50pm
Quoting xmzhang
Hey C, when I joined this thread in august, I was overwhelmed by all this information in the thread, I was really struggling to put all this information together. Sure I've read about PB's, engulfing bars, fibs, S/R, TL's before, but mostly used as a standalone trading tool, what I've learned from this thread is the full integration of all these trading tools into one universal tool that can be applied to whatever equity you want, stocks, commodities, forex etc... The integration of all these trading tools allows you to pick the trades with the...

Looking good xmz . . .
Indicators show the past. Price Action "Indicates" the future.
  • #79,832
  • Nov 12, 2010 12:01am Nov 12, 2010 12:01am
Quoting jarroo
Watching this on the Eur/Cad Weekly.

What's even more interesting is the Monthly BUOB . . . previous bar High(s).

You guys know I like these, right? . . lol ..

Quoting uBERpIP
The EUR/CAD took a major fall from its September highs in the 1.60s, dropping all the way to mid 1.20s. In June it started making a recovery of sorts, and recently reached highs of in the area of 1.44. This also happened to be a 50% retracement of the previous decline.....resistance was strong and the EUR/CAD was rejected.

She is now approaching another major S/R level @ 1.37, receiving some support at the moment from the confluence of moving averages.

Should be a decent place to set up a sniping position and wait for PA.

Is it going to receive...

I like the way you think. Some nice bullish PA would be nice at the 1.3700.
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Indicators show the past. Price Action "Indicates" the future.
  • #79,833
  • Nov 12, 2010 12:03am Nov 12, 2010 12:03am
hi guys.
hope you are all doing well.
i am back after nearly 3 weeks in hospital after a horrible car accident.
a truck crashed into my car and several others behind and in front of me at the end of a traffic jam on a german highway. about 7 people were injured.
i got several broken bones (rips, left forearm, etc.).
shows that nothing is more important in life than good health.
good trades
take care
meine augen sind die sterne
  • #79,834
  • Nov 12, 2010 12:05am Nov 12, 2010 12:05am
Quoting aserbfx
hi guys.
hope you are all doing well.
i am back after nearly 3 weeks in hospital after a horrible car accident.
a truck crashed into my car and several others behind and in front of me at the end of a traffic jam on a german highway. about 7 people were injured.
i got several broken bones (rips, left forearm, etc.).
shows that nothing is more important in life than good health.
good trades
take care
oh man so sorry to hear that al

Take care of yourself and glad that you will be ok

Be well friend

Mike
  • #79,835
  • Nov 12, 2010 12:11am Nov 12, 2010 12:11am
Quoting aserbfx
hi guys.
hope you are all doing well.
i am back after nearly 3 weeks in hospital after a horrible car accident.
a truck crashed into my car and several others behind and in front of me at the end of a traffic jam on a german highway. about 7 people were injured.
i got several broken bones (rips, left forearm, etc.).
shows that nothing is more important in life than good health.
good trades
take care
Sorry to hear about that aserb . .wow. . hope you got some good drugs . (jk) . .

Glad to see that you're well enough to post . .that's a good sign.

Get well very soon, friend.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #79,836
  • Nov 12, 2010 12:28am Nov 12, 2010 12:28am
Maybe we will see some bullish PA on EU at the 50 fibo with the 365 EMA and BRN.
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  • #79,837
  • Nov 12, 2010 12:31am Nov 12, 2010 12:31am
Quoting Donkey
Hi Jarroo. What do you think of GJ. Does this have a rac look to you?

Trendline, RN 132, PPZ, 50 retrace confluence. Touch of trendline at 132 and price likely to move south?

Also 61.8 fib near 132 from most recent swing high.

Quoting jarroo
Absolutely D.

If Price doesn't find Resistance at the 132.00, look for it to find Support, especially if it doesn't give much of a bounce down, meaning a small bounce down would tell me that we're heading upward . .probably to the 135.00.
Well the 132.00 did find Resistance and had a nice bounce down of over 200 pips. (only on the Gbp/Jpy would a 200+pip be a bounce .. lol)

I am now looking to see if the 132.00 can hold as Support.

This confluenced level at the 132.00; PPZ level (although the PPZ could have been clearer), trendline and 61.8 Fib was not only a strong level to act as Resistance. These same confluences can still act as strong Support. . . we shall see.
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Indicators show the past. Price Action "Indicates" the future.
  • #79,838
  • Nov 12, 2010 12:31am Nov 12, 2010 12:31am
Quoting aserbfx
hi guys.
hope you are all doing well.
i am back after nearly 3 weeks in hospital after a horrible car accident.
a truck crashed into my car and several others behind and in front of me at the end of a traffic jam on a german highway. about 7 people were injured.
i got several broken bones (rips, left forearm, etc.).
shows that nothing is more important in life than good health.
good trades
take care


Oh dear, sorry to hear that.

Hope you recover fully and are not left with any disability.
  • #79,839
  • Nov 12, 2010 12:44am Nov 12, 2010 12:44am
AUD/NZD

Moved my stop to BE+.

Looks like we have a clear resistance area formed.
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  • #79,840
  • Nov 12, 2010 1:20am Nov 12, 2010 1:20am
Just taking another look at Habeeb's S&R indicator.

Interesting stuff.

Looks like the H4 BEOB has had the previous bar tested for resistance and held, forming a box, the continuation seems to be confirmed.

I would like to see a retest of the low of the box with some bearish PA.


Maybe the Monthly S1 area will be a tough cookie but, when we already at BE+, it doesn't really concern us.
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