james16 Chart Thread | Page 5175 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #103,481
  • Edited 9:30pm Oct 24, 2011 8:58pm | Edited 9:30pm
Quoting Fx7877
Thanks Pin. Does it mean that one takes the trade once it touches that area of interest or we still wait for suitable PA (like a PB, BUOB etc) to take the trade at that area? How diff is it from our usual PA trade setup?

A touch trade usually involves taking a trade as soon as price touches the area, before any PA is formed. It is pure Support & Resistance. J16 also takes a lot of touch trades, this thread did early on talk about TTs. However, I think for the simple practical reason, that a Touch Trade is taken before any PA is formed, it has been put on a back burner.
Touch trading lacks the PA confirmation, and therefore possibly, new people should learn to see Clearly the S&R and PA at those areas, before delving into Touch Trading.
Like learning to walk before we can run.
  • #103,482
  • Oct 24, 2011 9:19pm Oct 24, 2011 9:19pm
Newbie in the forum. Just spent the last few hours reading thru the posts, thanks Pinbar and Jarroo for the terminology....there was some that I was not familiar with.
  • #103,483
  • Oct 24, 2011 9:28pm Oct 24, 2011 9:28pm
Quoting Fx7877
Thanks Pin. Does it mean that one takes the trade once it touches that area of interest or we still wait for suitable PA (like a PB, BUOB etc) to take the trade at that area? How diff is it from our usual PA trade setup?

Well, if you wait for PA you are not really Touch Trading.

Sorry, I think I confused you with saying, "PA may be involved".
You should think of TT as not involving PA primarily.

What some people do is go down to a lower Time Frame and look for PA at these areas as in the chart below.
However, this is not Touch Trading in the genuine sense of the word.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 167 KB
Click to Enlarge Name: h4.jpg Size: 173 KB
  • #103,484
  • Oct 24, 2011 9:37pm Oct 24, 2011 9:37pm
Quoting Pinbar
Well, if you wait for PA you are not really Touch Trading.

Sorry, I think I confused you with saying, "PA may be involved".
You should think of TT as not involving PA primarily.

What some people do is go down to a lower Time Frame and look for PA at these areas as in the chart below.
However, this is not Touch Trading in the genuine sense of the word.
Thank you Pin. Got it!
  • #103,485
  • Edited 10:22pm Oct 24, 2011 9:50pm | Edited 10:22pm
Quoting Fx7877
Thank you Pin. Got it!
Good, but, don't forget you are supposed to be trading the weekly & the daily time frames. LOL
NP, it helps me focus on what I am doing with Jarroo's methodology.
We help people & little and receive help in more ways than we can imagine.

When we really think about TT, it is really no different than PA because, we wait for PA confirmation off of the same areas. It is also the same as what Jarroo is doing. In fact, it leads me to believe that everything everyone does, including what Mike does with wedges and breakout trades are really all the same thing.
All roads lead to Rome, as they say.
Attached Image (click to enlarge)
Click to Enlarge Name: w.jpg Size: 154 KB
  • #103,486
  • Oct 24, 2011 11:23pm Oct 24, 2011 11:23pm
Quoting Bemac
And if I were to say...
That may be a little projective.

Nice thing is;
We can move our SL,TP numbers as a Trade moves.

B
Bemac

I would like to hear your take on what Gu did.
So, I can get a handle on your thought process behind the reason, you seemed to be quite confident, it would not hit the 1.6000.
Not being funny, just want to learn from this experience.

Thanks in advance
Steve
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 126 KB
  • #103,487
  • Oct 24, 2011 11:28pm Oct 24, 2011 11:28pm
Quoting Pinbar
Good, but, don't forget you are supposed to be trading the weekly & the daily time frames. LOL
NP, it helps me focus on what I am doing with Jarroo's methodology.
We help people & little and receive help in more ways than we can imagine.

When we really think about TT, it is really no different than PA because, we wait for PA confirmation off of the same areas. It is also the same as what Jarroo is doing. In fact, it leads me to believe that everything everyone does, including what Mike does with wedges and breakout trades are really all the...
Haha, yes, I didn't forget the mantra I'm only looking at longer TF. Only asking becos I din understand the term touch trade. Thanks to all for your patience here with my incessant asking of questions. Hope to contribute and help others here in future when I've reach the level of the seniors here
  • #103,488
  • Oct 25, 2011 1:00am Oct 25, 2011 1:00am
Quoting 5.25
I might have to start putting "Jarroo" down for added confluence

Thanks for the feedback
Looks like the true Weekly LCS was this Open, 76.47. . .the Weekend Close . .damn you gaps!! . Then PBT&CB on the weekly and Bam!. . .

Yes, you read that right . .the Daily High was 76.48.

Looks like Price is respecting the Daily LCS . .of course it is because . . . PBT&CB on the Daily . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpymww.jpg Size: 68 KB
Click to Enlarge Name: jpymwwaaa.jpg Size: 75 KB
Click to Enlarge Name: jpymwwaaadddd.jpg Size: 94 KB
Indicators show the past. Price Action "Indicates" the future.
  • #103,489
  • Oct 25, 2011 1:20am Oct 25, 2011 1:20am
Quoting Pinbar
I am sure you did not forget them but, just subconsciously recognized them for what they are.

I have noticed how you are using both the Monthly & weekly levels.

Looks like we may have a couple of weekly levels to watch out for on GU.
Those Weekly and Monthly levels are strong at the 1.6 BRN.

If we don't get a strong move down this baby is going up . .wait a minute, it already had a good move down from the 1.6. If we get a strong Close above on say the Daily or Weekly the 1.6ish looks like a great jumping point upward . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,490
  • Oct 25, 2011 1:31am Oct 25, 2011 1:31am
Quoting Pinbar
Took the break of the H1 DBLHC and just took off two thirds profit at 1.59839. I can now leave the SL where it is and see if we get an hourly close below the weekly PPZ.

I think it is on its way to the 1.6000
Nice one Pb. . why not take your 1.5950 (Weekly LCS) on the retrace of that DBLHC on the Hourly . . . It hit the 1.6 targets nicely . . . . the 1.5998 is a target hit . .1.5995 is a target hit . .hell, a 1.5990 is a target hit at the 1.6 . .to me.

Just some thoughts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #103,491
  • Oct 25, 2011 1:37am Oct 25, 2011 1:37am
Quoting Pinbar
Almost there & LO is 30 mins away.

I was trying out Jarroo's thing on the lower TF as I had a bias in mind about this breaking out of the weekly PPZ.

Awesome Pb!! . . . .Higher time frame levels traded on lower time frame . .that's how I roll . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,492
  • Oct 25, 2011 1:41am Oct 25, 2011 1:41am
Quoting jarroo
Those Weekly and Monthly levels are strong at the 1.6 BRN.

If we don't get a strong move down this baby is going up . .wait a minute, it already had a good move down from the 1.6. If we get a strong Close above on say the Daily or Weekly the 1.6ish looks like a great jumping point upward . .
Hmm, this may sound crazy but, I don't think we have arrived at the Monthly levels yet.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 145 KB
Click to Enlarge Name: d.jpg Size: 109 KB
  • #103,493
  • Oct 25, 2011 1:51am Oct 25, 2011 1:51am
Quoting Pinbar
Hmm, this may sound crazy but, I don't think we have arrived at the Monthly levels yet.

Yeah . .that's the "ish" in the "1.6ish" . . Still the 1.6 is a great BRN to watch.
Indicators show the past. Price Action "Indicates" the future.
  • #103,494
  • Oct 25, 2011 1:52am Oct 25, 2011 1:52am
Looking at these levels on D1

"That's the Ish" LOL

I hear you though, these are supposed to be zones.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 121 KB
  • #103,495
  • Edited 2:16am Oct 25, 2011 1:59am | Edited 2:16am
Quoting Pinbar
Good job.
I took 3 fifths off the table and left the rest to do whatever.
So, I got out of it at BE plus a tiny amount.

We will nail it next time.

I would LOVE to hear Jarroo's take on it.

That "Bounce" written on your chart should read "Bam!" . .

I guess you missed this post . .The daily Close above is a stronger confirmation . . . .excellent Pb . .

Quoting jarroo
Since PBT&CA on the 4 Hour at the Daily LCS level, its a vaild entry long at the 1.5905 . .although I would have liked to have seen a better build or other confluences supporting that level . .but its valid ..

Price failed to act as Resistance at the Daily LCS level, so now its reverting back to Support . .at least on the 4 hour TF for now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guwdz.gif Size: 55 KB
Click to Enlarge Name: guwdz44.gif Size: 44 KB
Indicators show the past. Price Action "Indicates" the future.
  • #103,496
  • Oct 25, 2011 2:06am Oct 25, 2011 2:06am
Euro . .in at 1.3884

Edit: got to go for now . .let me know how it turns out . .
Attached Image (click to enlarge)
Click to Enlarge Name: eu25a.jpg Size: 92 KB
Indicators show the past. Price Action "Indicates" the future.
  • #103,497
  • Oct 25, 2011 2:12am Oct 25, 2011 2:12am
Quoting jarroo
That "Bounce" written on your chart should read "Bam!" . .

I guess you missed this post . .The daily Close above is a strong confirmation . . . .excellent Pb . .

Oh yeah, I missed that one.

Getting there, slowly.

Thanks Jarroo
  • #103,498
  • Oct 25, 2011 2:14am Oct 25, 2011 2:14am
Quoting jarroo
Euro . .in at 1.3884

Edit: got to go for now . .let me know how it turns out . .

1st target hit . .now I gotta go . .
Attached Image (click to enlarge)
Click to Enlarge Name: eu25ab.jpg Size: 84 KB
Indicators show the past. Price Action "Indicates" the future.
  • #103,499
  • Oct 25, 2011 2:17am Oct 25, 2011 2:17am
Quoting jarroo
That "Bounce" written on your chart should read "Bam!" . .

I guess you missed this post . .The daily Close above is a strong confirmation . . . .excellent Pb . .
Hi guys can you please direct me to any posts discussing the methodology of lcs hcr? Mainly on how to derive them? I understand they are similar to ppzs but are derived diffrently. your recent post exchange has got me interested....
Trading is a test match not a Twenty20.
  • #103,500
  • Oct 25, 2011 3:15am Oct 25, 2011 3:15am
Quoting jarroo
Euro . .in at 1.3884

Edit: got to go for now . .let me know how it turns out . .
hi all
jarro,have a question about this trade you took....
you entered without PA?
where did you put SL?
thanks
18 traders viewing now