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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

  • #91,601
  • Edited 3:24pm Mar 14, 2011 2:56pm | Edited 3:24pm
Yes looks like a cool 50 pips in it if there was a quick management..
Thanks Jarroo for your great posts... great clarity ( something we all need ). Anyway are most your trades touch trades in this style, ie micro entries trying to get in on more long term(daily chart) potential movement?
IE look for set ups on dailys and enter off s/r within the hourly charts..etc , I have been trying this out with daily outside bars, I wait for retrace looking for pa(hourly, 4 hourly) off 50%/61.8 retraces of the daily outside bar.. BUT my sl is below the daily hourly bar... .... thoughts appreciated.. Thanks
Quoting jarroo
At first glance, this TT looks to have been a losing trade . .but a closer look on the Hourly and you can see that it did provide some downward movement and positive pips were given if managed tightly.

Touch trades for me is all about covering yourself from a loss. . .bit it by moving to break even or a free trade position.

The best, of course, is a solid PA setup.
  • #91,602
  • Mar 14, 2011 3:11pm Mar 14, 2011 3:11pm
Quoting Shanetrader
Yes looks like a cool 50 pips in it if there was a quick management..
Thanks Jarroo for your great posts... great clarity ( something we all need ). Anyway are most your trades touch trades in this style, ie micro entries trying to get in on more long term(daily chart) potential movement?
IE look for set ups on dailys and enter off s/r within the hourly charts..etc , I have been trying this out with daily outside bars, i enter order for half position on break of outside bar and eg looking for pa(hourly, 4 hourly) off 50%/61.8 retraces of the...
My trades lately have been more TTs it really depends on the setup presented. . meaning the really clear, strong looking levels of consolidation and swing highs/lows. Many of these levels will provide a good bump or bounce the will be enough to cover your risk and may turn into a longer term trade. . . .but nothing beats solid PA at these levels. . .like the Eur/Gbp Daily PB.

I like your approach on the retracement levels of PA just as long at the story of these setups are strong. . .Like the Daily BUOB on the Aud/Cad and the Daily PB on the GU.
Indicators show the past. Price Action "Indicates" the future.
  • #91,603
  • Edited 3:43pm Mar 14, 2011 3:21pm | Edited 3:43pm
this is great, i am finding this thread to be informative and educative and having a feeling that this could be my quantum leap into price pattern trading as i have always wanted to learn it.
i am actually new to this forum, and i would be glad if anyone could help me along in learning and becoming a good price pattern traders.
awaiting you candid response..
  • #91,604
  • Mar 14, 2011 3:41pm Mar 14, 2011 3:41pm
Quoting Pinbar
Hey Kalbar

Here is my quick take on it but, let's wait to see if Jarroo confirms this.

I only put the areas to look for bullish or bearish PA on this chart. We still have to look for surrounding S&R.

Oh no, I just posted a chart, does this mean another earthquake?
I'm currently looking at the Highest Close of Resistance and Lowest Close of Support within market patterns themselves. The kind of patterns that Mike looks at . .without to much curve fitting. . .more so at the "squeezing out phase". A stronger close below the current LCS on the Usd/Jpy would be nice.

Also much like your Eur/Cad Daily BEOB that you took or Demoed last week . . .the HCR played its role.

Currently on the Eur/Cad, we could see a break to the upside. .. .a close above the HCR would only confirm it for me.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurcad14.jpg Size: 87 KB
Indicators show the past. Price Action "Indicates" the future.
  • #91,605
  • Mar 14, 2011 3:42pm Mar 14, 2011 3:42pm
Quoting AvanishDemo
I'm Still holding this trade..PB.1.37RN..relevant TL..
Jarroo,pls take a look at hcr-lcs terminology that i have applied on chart..
i wanna know if its a logical approach or over-analytical..
NOTE:hcr1 & lcs1-->same line
my TP is 1.35..(EDIT:i may close trade in between too,that depends)

if price starts consolidating near 1.36 i would close the trade in between(n i dont know y,maybe i will be scared of unforseen price reactions that time,also 10 pip spread)

im bit busy with college stuffs so i will be back to this post:
1.35 is a nice target, then up to 1.4050. Or if it takes 1.35 out a even better target would be ~1.315
Attached Image(s) (click to enlarge)
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  • #91,606
  • Mar 14, 2011 4:06pm Mar 14, 2011 4:06pm
Quoting Confama
this is great, i am finding this thread to be informative and educative and having a feeling that this could be my quantum leap into price pattern trading as i have always wanted to learn it.
i am actually new to this forum, and i would be glad if anyone could help me along in learning and becoming a good price pattern traders.
awaiting you candid response..
Welcome C

You will find this a great place full of awesome people

Post away we'll be around

Best
Mike
  • #91,607
  • Mar 14, 2011 4:25pm Mar 14, 2011 4:25pm
Waiting for a convincing close above 1.3842 (which is the highest close of resistance). Maybe we get some nice bullish PA after it bounces off the weekly PPZ

Regards,
Ganesh
Attached Image (click to enlarge)
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  • #91,608
  • Edited 4:46pm Mar 14, 2011 4:28pm | Edited 4:46pm
Quoting AvanishDemo
I'm Still holding this trade..PB.1.37RN..relevant TL..
Jarroo,pls take a look at hcr-lcs terminology that i have applied on chart..
i wanna know if its a logical approach or over-analytical..
NOTE:hcr1 & lcs1-->same line
my TP is 1.35..(EDIT:i may close trade in between too,that depends)

if price starts consolidating near 1.36 i would close the trade in between(n i dont know y,maybe i will be scared of unforseen price reactions that time,also 10 pip spread)

im bit busy with college stuffs so i will be back to this post:
Let's back up a bit, AD. You can find the Highest Close of Resistance and Lowest Close of Support on any time frame and pretty much anywhere you look. So we want to be more selective when we look for them. We want to find them at strong areas. These areas are Swing High/Lows, Consolidation areas and PPZ levels.

I like using the higher time frames because they provide stronger levels because they have more time in them and more information or data in them.

Here's some Weekly areas I would look for on the Aud/Nzd (you would have to pick the aud/nzd. . just kidding . .but it is a tough pair).

Once we have these levels we can look for opportunties once PBT&CAorB them on the Weekly then look on the Daily or even the 4 hour.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #91,609
  • Mar 14, 2011 4:49pm Mar 14, 2011 4:49pm
Quoting Sgrb1
Not Mike but, there was the BEOB for anyone looking to take the retest of the Flag..

Quoting mbqb11
very good bud

Indicators show the past. Price Action "Indicates" the future.
  • #91,610
  • Mar 14, 2011 4:56pm Mar 14, 2011 4:56pm
Quoting ksganesh100
Waiting for a convincing close above 1.3842 (which is the highest close of resistance). Maybe we get some nice bullish PA after it bounces off the weekly PPZ

Regards,
Ganesh

I like it, ksg . .. .

Also look at the 1.3800. The most recent HCR.

Look at how many times that Price could not close above the 1.3805 until today. That's a strong level.


later gotta go


Jim
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 86 KB
Indicators show the past. Price Action "Indicates" the future.
  • #91,611
  • Mar 14, 2011 5:11pm Mar 14, 2011 5:11pm
Quoting jarroo
I like it, ksg . .. .

Also look at the 1.3800. The most recent HCR.

Look at how many times that Price could not close above the 1.3805 until today. That's a strong level.


later gotta go


Jim
Ah, the box within the box - the ones I seem to miss. Thanks for pointing that level out, Jim.

These close levels are great. For the same pair, I remember watching the big BEOB's close on friday during the close. The bar looked all set to close below 1.37 but there was this sudden spurt of buying and the pair shot up by 30 pips or so in the last few minutes before close.

Fascinating how price tends to warn you of its intentions. No prizes for guessing you are talking to a PA newbie

Regards
Ganesh
  • #91,612
  • Mar 14, 2011 5:30pm Mar 14, 2011 5:30pm
Quoting jarroo
I like it, ksg . .. .

Also look at the 1.3800. The most recent HCR.

Look at how many times that Price could not close above the 1.3805 until today. That's a strong level.


later gotta go


Jim
I'm looking for a retest of 1.3828 for a long position or a touch off 1.3908 for a short position.

http://my.jetscreenshot.com/5886/m_2...-1wej-96kb.jpg
  • #91,613
  • Mar 14, 2011 8:52pm Mar 14, 2011 8:52pm
Quoting jarroo
I'm currently looking at the Highest Close of Resistance and Lowest Close of Support within market patterns themselves. The kind of patterns that Mike looks at . .without to much curve fitting. . .more so at the "squeezing out phase". A stronger close below the current LCS on the Usd/Jpy would be nice.

Also much like your Eur/Cad Daily BEOB that you took or Demoed last week . . .the HCR played its role.

Currently on the Eur/Cad, we could see a break to the upside. .. .a close above the HCR would only confirm it for me.
Jarroo, this looks great. Is it possible to talk about the entry?

I have EURCAD chart like yours, but I am struggling to enter a trade even I have analyzed the chart right.

Any comments would be greatly appreciated.

Leelar
  • #91,614
  • Mar 14, 2011 9:17pm Mar 14, 2011 9:17pm
Quoting Pinbar
Hey Kalbar

Here is my quick take on it but, let's wait to see if Jarroo confirms this.

I only put the areas to look for bullish or bearish PA on this chart. We still have to look for surrounding S&R.

Oh no, I just posted a chart, does this mean another earthquake?
PB,
You definately get my vote for most dedicated member of this forum.
  • #91,615
  • Mar 14, 2011 9:18pm Mar 14, 2011 9:18pm
Quoting jarroo
Let's back up a bit, AD. You can find the Highest Close of Resistance and Lowest Close of Support on any time frame and pretty much anywhere you look. So we want to be more selective when we look for them. We want to find them at strong areas. These areas are Swing High/Lows, Consolidation areas and PPZ levels.

I like using the higher time frames because they provide stronger levels because they have more time in them and more information or data in them.

Here's some Weekly areas I would look for on the Aud/Nzd (you would have to pick...
ok..heres the look..i plotted some C-boxes & Swing highs n lows..and accordingly i marked HCR-LCS..have a look!
Attached Image (click to enlarge)
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  • #91,616
  • Edited 9:46pm Mar 14, 2011 9:33pm | Edited 9:46pm
Daily chart same pair..GBPAUD..
Purple lines..-->they are daily LCS-HCR..
Brown line...--->they are weekly LCS-HCR as shown in previous post.
(thanks)
Attached Image (click to enlarge)
Click to Enlarge Name: gu3.gif Size: 20 KB
  • #91,617
  • Mar 15, 2011 12:42am Mar 15, 2011 12:42am
I got long on one of the breaks of the doubletops, and exited after that last double top formed. I didn't know why, but I just had this gut feeling to close it, looking closer at it I tried to examine some of the differences, why I felt confident on buying the breaks, whereas on the last one I felt it was turning.
Here is a picture and my thoughts:
http://www.abload.de/img/differences2xadr.gif

I think it is quite fascinating how much of this comes instinctively after much screen time without really thinking about it.
  • #91,618
  • Mar 15, 2011 12:44am Mar 15, 2011 12:44am
Quoting mbqb11
Hey Ammar

I like to keep my analysis separate. Can lead to analysis paralysis especially at the beginning of learning to get this. If you look at James charts you will see he never uses multiple timeframes when analyzing his trades. Keeps the focus good.

Here were a couple charts on the gbp/usd daily. I like your weekly analysis of price not being able to close under the BRN of 1.6
Thank you very much Mike. To be honest I was not considering the consolidation box but I will do it from now on.

Thanks again
Ammar
  • #91,619
  • Mar 15, 2011 1:33am Mar 15, 2011 1:33am
us 10 year note at heavy resistance area...
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meine augen sind die sterne
  • #91,620
  • Mar 15, 2011 3:58am Mar 15, 2011 3:58am
They just measured radiation levels of 40 times normal in Tokyo.

The reactors are about to meltdown.

And I still haven't hear if my chart on Jarroo's LCS HCR is correct.

I must be mad.


What a mess.


EDIT: Jarroo did reply, must have missed it on the midst of all this madness.

Thanks Jarooo.
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