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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

  • #91,521
  • Mar 13, 2011 1:00am Mar 13, 2011 1:00am
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A chart helps those who can read it.
  • #91,522
  • Mar 13, 2011 3:38am Mar 13, 2011 3:38am
Quoting Atc
interesting how the 3 differnent swings with the use of fibs line up with the last daily high 61.8 from the last swing point , 50 from the higher, and the 38.2 with the highest swing point.

Don't you think?

Does this tell us we will retrace first, like you indicate on your chart Jim before we may go higher since this is such a BUB?
IN my eyes, just see the price ,0.9900,1 are the major resistance .and the descending line have been broken. opposite， the previous descending line now may be a support line .below ,0.9825 zone(where the 150ema is) may be give some support, On weekly chart, there is the pin bar.however ,in my opinion, there WILL be some chances for the long position.
woolgathering
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  • #91,523
  • Mar 13, 2011 4:02am Mar 13, 2011 4:02am
woolgathering
bullish will be continued?
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  • #91,524
  • Mar 13, 2011 6:27am Mar 13, 2011 6:27am
Very strong resistance - 133 RN + 50fib + 61.8fib + first test of well defined, tight neckline.
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  • #91,525
  • Mar 13, 2011 6:50am Mar 13, 2011 6:50am
Reserve bank of Australia is aggressively increasing interest rates (compared to other major central banks with NZD being on hold now) and there is too much risk in holding longer term short positions. Path of least resistance is still up and it looks like market is waiting for a trigger to bust thru the 1.02 resistance. On thursday some weak longs were shaken out from the market only to find support at the 0.997 area where aud has been bought heavily giving nice h1 PB.
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  • #91,526
  • Mar 13, 2011 9:44am Mar 13, 2011 9:44am
Quoting geniusztc
Hi geni. This is how I see EURAUD using the hcr lcs concepts jarroo has been teaching lately.

Starting on weekly there is an lowest close of support that is at the low of the current weekly bar. That looks like the line that you draw with short below and long above....which I agree with, we need to close below that line (lcs1 on my chart) to go short....I expect that area to hold as support until pa shows otherwise.

I drew the most recent highest close of resistance (hcr1 on my chart) on the weekly as well. It is real close to RN 1.3800. On daily I drew a recent lowest close of support (lcs3 on my chart). Friday's BEOB closed below this area, but was rejected at the weekly lcs1 area.

So knowing how outside bars retrace to previous bar highs/lows, I am currently looking for a move back to the 1.375-1.376 area followed by some bearish pa. There is a lot of reason to expect that area to be a strong resistance area:

1) Current weekly HCR
2) RN 1.3800
3) Daily LCS that has been closed below
4) Bearish Outside bar retrace to previous bar low (1.3750) on my feed
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  • #91,527
  • Mar 13, 2011 10:33am Mar 13, 2011 10:33am
Quoting Donkey
Hi geni....
the hcr lcs concepts jarroo has been teaching lately.
i am so sorry ,i have missed jarroo's class,but i think i ALMOST understand the hcr lcs concepts~~~ great and make sense.

we are both searching the S&R positions.and the key is planing our trade ,and trading our plan . good luck to you for the next week. cheers .!!!
A chart helps those who can read it.
  • #91,528
  • Mar 13, 2011 10:57am Mar 13, 2011 10:57am
screening the russel, i found loop on weekly approaching the upper resistance of the recatangle. price is stalled here since about one year. stock has ample space above ~ 13.10 usd.
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meine augen sind die sterne
  • #91,529
  • Edited 1:48pm Mar 13, 2011 1:21pm | Edited 1:48pm
Quoting Pinbar
Just deleted the previous post with the same chart as I realized the errors on it.
This is the revised version which I think is correct.


Jarroo
I think this the way to get this into proper perspective, till I hear your opinion.

On this chart I have put only the Highest close of resistance above price, the lowest close of support below current price and, PBT&CA.

I think I had best leave it like this till I hear your opinion on it.

Thanks in advance.
God only knows what you deleted, Pb . .lol . .(just kidding).

Interesting that you were looking at that consolidation back in early 2010.

Let's take a look at it and see if we can apply it to current Price levels.

The consolidation doesn't look that uniformed but that 1.5550 surely was a strong level . . .look at how the Highs and Closes line up with the 1.5550.

What would you look at next, Pb?
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Indicators show the past. Price Action "Indicates" the future.
  • #91,530
  • Mar 13, 2011 1:23pm Mar 13, 2011 1:23pm
Hi, I am new to FF, been trading for a little while though. This James16 thread is pretty daunting yet seems very informative. I am currently very interested in price action trading and I am trying to get opinions on all the ways to learn price action, like what sources are best to learn from. Seems to be a few good options out there. What sets J16 apart from the crowd?
  • #91,531
  • Mar 13, 2011 1:32pm Mar 13, 2011 1:32pm
Quoting Donkey
It took a bit, but we got a daily close above HCR2- now it could be a support area.

Hey D . .. I'm liking your "hcr2, lcs2, etc," Really nice work . .your a quick study.

You'll notice in my post when I said at the time, "your hcr2 is hanging tough" . it did give a bit of downward movement, wouldn't you say? . . at least enough to cover your risk or move to break even. just making sure you saw that ..
Indicators show the past. Price Action "Indicates" the future.
  • #91,532
  • Mar 13, 2011 1:44pm Mar 13, 2011 1:44pm
Quoting Donkey
Hi geni. This is how I see EURAUD using the hcr lcs concepts jarroo has been teaching lately.

Starting on weekly there is an lowest close of support that is at the low of the current weekly bar. That looks like the line that you draw with short below and long above....which I agree with, we need to close below that line (lcs1 on my chart) to go short....I expect that area to hold as support until pa shows otherwise.

I drew the most recent highest close of resistance (hcr1 on my chart) on the weekly as well. It is real close to RN 1.3800. On...

That is awesome, D .. .
Indicators show the past. Price Action "Indicates" the future.
  • #91,533
  • Mar 13, 2011 1:48pm Mar 13, 2011 1:48pm
Bearish flag on the Daily Usd/Chf.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,534
  • Mar 13, 2011 1:48pm Mar 13, 2011 1:48pm
Wait...i have been revising again all your new terminology..HCR n LCS..so basically they holds more importance similar to normal PBT n CA/B we used till now..am i right/wrong..?bit late to ask this Question but was quite engaged with the new teachings..lol..

(Thanks Jarroo!)
  • #91,535
  • Mar 13, 2011 1:50pm Mar 13, 2011 1:50pm
Quoting AvanishDemo
Wait...i have been revising again all your new terminology..HCR n LCS..so basically they holds more importance than normal PBT n CA/B we used till now..am i right..?bit late to ask this Question but was quite engaged with the new teachings..lol..

(Thanks Jarroo!)
They are of equal importance. We use one with the other.
Indicators show the past. Price Action "Indicates" the future.
  • #91,536
  • Mar 13, 2011 1:54pm Mar 13, 2011 1:54pm
Quoting jarroo
They are of equal importance. We use one with the other.
Yup just edited my post n replaced the word MORE with SIMILAR..dats wat i meant..lol..


Quoting AvanishDemo
Wait...i have been revising again all your new terminology..HCR n LCS..so basically they holds importance similar to normal PBT n CA/B we used till now..am i right/wrong..?bit late to ask this Question but was quite engaged with the new teachings..lol..

(Thanks Jarroo!)
  • #91,537
  • Mar 13, 2011 1:59pm Mar 13, 2011 1:59pm
Quoting AvanishDemo
Yup just edited my post n replaced the word MORE with SIMILAR..dats wat i meant..lol..

Let's walk through this one, AD . ..Daily Gbp/Aud.


What do you see?


Others can join in .. .I'll be back later . . .PBT&CB and HCR /LCS


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #91,538
  • Mar 13, 2011 2:37pm Mar 13, 2011 2:37pm
Quoting jarroo
Let's walk through this one, AD . ..Daily Gbp/Aud.


What do you see?


Others can join in .. .I'll be back later . . .PBT&CB and HCR /LCS


Jim
If I may, Jaroo. Have been trying to get my around this concept :-)

This is what I read from the chart - Basically means the LCS (apologies for LCR on the chart - Pain to change text on an image now) still holds because the last candle did not close below this level convincingly. Apologies if this is too basic an answer..!

Regards
Ganesh
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  • #91,539
  • Mar 13, 2011 4:09pm Mar 13, 2011 4:09pm
Gap up treated me nice on this 4hour trade I took Friday.
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  • #91,540
  • Edited 7:39pm Mar 13, 2011 6:04pm | Edited 7:39pm
Quoting jarroo
God only knows what you deleted, Pb . .lol . .(just kidding).

Interesting that you were looking at that consolidation back in early 2010.

Let's take a look at it and see if we can apply it to current Price levels.

The consolidation doesn't look that uniformed but that 1.5550 surely was a strong level . . .look at how the Highs and Closes line up with the 1.5550.

What would you look at next, Pb?

Morning Jarroo

The highest close of resistance in the vicinity of price, would make a good pullback area.
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