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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

  • #91,161
  • Mar 8, 2011 11:01pm Mar 8, 2011 11:01pm
Quoting Donkey
I think you need to draw the HCR/LCS first and then look for break through close above/below etc.

Here's how I see current EJ consolidation using HCR and LCS....the top and midpoint of current box can be defined by the HCR and LCS1 I drew on weekly. They are basically the BRN of 115. I see using a higher time frame close with BRN as confluence at a S/R area. If you get the PBT&CA/B, you expect the s/r to flip. If you don't get it you expect the s/r to hold.

So on EJ we expect the current level (basically 115.00) to how hold as support.

That's freakking excellent D . . You're the man . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,162
  • Mar 8, 2011 11:03pm Mar 8, 2011 11:03pm
Quoting Donkey
...I just read TF as something other than Time Frame that goes with What....getting late here.

lol . . .that wasn't suppose to be a freudian slip. . just kidding Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #91,163
  • Mar 8, 2011 11:03pm Mar 8, 2011 11:03pm
Quoting Donkey
I think you need to draw the HCR/LCS first and then look for break through close above/below etc.

Here's how I see current EJ consolidation using HCR and LCS....the top and midpoint of current box can be defined by the HCR and LCS1 I drew on weekly. They are basically the BRN of 115. I see using a higher time frame close with BRN as confluence at a S/R area. If you get the PBT&CA/B, you expect the s/r to flip. If you don't get it you expect the s/r to hold.

So on EJ we expect the current level (basically 115.00) to now hold as support.

Donkey, price is nowhere near LCS1?

wouldn't the yellow line be more appropriate?
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  • #91,164
  • Mar 8, 2011 11:05pm Mar 8, 2011 11:05pm
Quoting jarroo
lol . . .that wasn't suppose to be a freudian slip. . just kidding Pb.

Haven't got a clue what you are talking about.

Sounds funny though.

What am I missing?
  • #91,165
  • Mar 8, 2011 11:13pm Mar 8, 2011 11:13pm
Quoting minos.niu
I got a big loss on this pair cad/jpy. Maybe some one can help me with the rationale?

The only logic of failure that I see could be: the PB was on Friday close, then on Monday it generally is not a good time to trade.

That PB was a success and hit its target . .the Daily PPZ level.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,166
  • Mar 8, 2011 11:14pm Mar 8, 2011 11:14pm
Quoting Pinbar
Haven't got a clue what you are talking about.

Sounds funny though.

What am I missing?

Do you know what WTF means . .I mean . .What TF? . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #91,167
  • Mar 8, 2011 11:22pm Mar 8, 2011 11:22pm
Quoting jarroo
That PB was a success and hit its target . .the Daily PPZ level.
I see. Learned that the B/E watchdog should run at a a much smaller TF after entering the market.

Thanks!
  • #91,168
  • Mar 8, 2011 11:26pm Mar 8, 2011 11:26pm
Quoting jarroo
Do you know what WTF means . .I mean . .What TF? . .lol

Well, yes, of course.

I thought you meant What Time Frame are you using.

It must be my puritanical mind.

Must be getting old. LoL

But you digress. I am still waiting to know if this is right or wrong.
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  • #91,169
  • Mar 8, 2011 11:26pm Mar 8, 2011 11:26pm
Quoting Pinbar
Donkey, price is nowhere near LCS1?

wouldn't the yellow line be more appropriate?
I put a couple of thoughts on a chart...hope they make sense. For me, I want to look at the LCS and HCR a little in the past to find an area to watch for future PA. The closes near 115 and 110 jump out at me.

I don't see myself using a current or very recent bar to identify the area. I know my personality, and if I start looking at every bar close - I'll start overtrading.

If 115 rejects, I'll be happy to short there (with PA) or wait to see what happens at 110.

Rambling a bit, hopefully not too confusing.
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  • #91,170
  • Mar 8, 2011 11:27pm Mar 8, 2011 11:27pm
Quoting minos.niu
I see. Learned that the B/E watchdog should run at a a much smaller TF after entering the market.

Thanks!

Not sure what that means, minos. But that PB was very predictable on a very tough pair, in a difficult choppy market.
Indicators show the past. Price Action "Indicates" the future.
  • #91,171
  • Mar 8, 2011 11:32pm Mar 8, 2011 11:32pm
Quoting Donkey
I put a couple of thoughts on a chart...hope they make sense. For me, I want to look at the LCS and HCR a little in the past to find an area to watch for future PA. The closes near 115 and 110 jump out at me.

I don't see myself using a current or very recent bar to identify the area. I know my personality, and if I start looking at every bar close - I'll start overtrading.

If 115 rejects, I'll be happy to short there (with PA) or wait to see what happens at 110.

Rambling a bit, hopefully not too confusing.

I was under the impression that Jarroo was looking for a possible breakout and pullback to an area that has some meaning to where price is currently at, not months ago. As in that LCS1 area.
  • #91,172
  • Mar 8, 2011 11:37pm Mar 8, 2011 11:37pm
Quoting Pinbar
LOL

Jarroo

Perhaps, you could tell me what there is.
And do we still use PBT&CA or B or has this been passed over in favor of this method?

Sorry Jarroo, I am not trying to be an A hole, just trying to get it in my head clearly.
chart
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Indicators show the past. Price Action "Indicates" the future.
  • #91,173
  • Mar 8, 2011 11:40pm Mar 8, 2011 11:40pm
Quoting Pinbar
I was under the impression that Jarroo was looking for a possible breakout and pullback to an area that has some meaning to where price is currently at, not months ago. As in that LCS1 area.
I think we all have to fit it to our style.

However, the break out and pull back we're watching on daily now (115.00) is defined by a weekly highest close of resistance at 114.85 from 5 and a half months ago.

I also see it as a way to look for confluence at a current level. If we're interested in daily PA at a level, go to a higher time frame and look for HCR and LCS as another form of confluence.
  • #91,174
  • Mar 8, 2011 11:41pm Mar 8, 2011 11:41pm
Quoting Pinbar
I was under the impression that Jarroo was looking for a possible breakout and pullback to an area that has some meaning to where price is currently at, not months ago. As in that LCS1 area.

Looks like Donkey is trying to predict the future Price levels ( not seen yet) on that chart . . .wow . .. nice.
Indicators show the past. Price Action "Indicates" the future.
  • #91,175
  • Mar 8, 2011 11:52pm Mar 8, 2011 11:52pm
Quoting Pinbar
Well, yes, of course.

I thought you meant What Time Frame are you using.

It must be my puritanical mind.

Must be getting old. LoL

But you digress. I am still waiting to know if this is right or wrong.

Sorry Pb. I should have been more specific when I said the current Weekly consolidaton.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,176
  • Mar 9, 2011 12:06am Mar 9, 2011 12:06am
Quoting jarroo
Sorry Pb. I should have been more specific when I said the current Weekly consolidaton.

Oh, I get you now.

I take it that this green line is the current area that is acting as resistance?
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  • #91,177
  • Mar 9, 2011 12:09am Mar 9, 2011 12:09am
Quoting Pinbar
Oh, I get you now.

I take it that this green line is the current area that is acting as resistance?
Yes, that's correct . .that current green line is acting as Resistance . .and that is based on What?
Indicators show the past. Price Action "Indicates" the future.
  • #91,178
  • Mar 9, 2011 12:16am Mar 9, 2011 12:16am
Quoting jarroo
Yes, that's correct . .that current green line is acting as Resistance . .and that is based on What?

Based on PBT&CB and this area flips to resistance.

Nothing has yet managed to close above it in the last 6 weeks.

SO we use each bar close as a stepping stone to see where price may get rejected or get a foothold.
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  • #91,179
  • Mar 9, 2011 12:18am Mar 9, 2011 12:18am
Quoting Pinbar
Based on PBT&CB and this area flips to resistance.

Nothing has yet managed to close above it in the last 6 weeks.

SO we use each bar close as a stepping stone to see where price may get rejected or get a foothold.

That's right . . . Not the clearest but its there. Check that level on the Daily . .
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Indicators show the past. Price Action "Indicates" the future.
  • #91,180
  • Mar 9, 2011 12:24am Mar 9, 2011 12:24am
Quoting jarroo
That's right . . . Not the clearest but its there. Check that level on the Daily . .
I think we are talking about two different bars here.

I am talking about the bar with the black arrow.

While I think you are talking about this bar with the red arrow?

In which case, I can not see PBT&CA or B.
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