DislikedFollowing up with a 4HR chart. Take a look at the BEOB (not best shape) that occurred at the daily HCR that occurred on 10/19 (1.2420). Nice bounce there. Could have a TT at that level or wait for PA.Ignored
Hindsight is a beautiful thing.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFollowing up with a 4HR chart. Take a look at the BEOB (not best shape) that occurred at the daily HCR that occurred on 10/19 (1.2420). Nice bounce there. Could have a TT at that level or wait for PA.Ignored
DislikedTake a look at where you could have entered on this monster audnzd rally... to the pip! (1.2356)
Hindsight is a beautiful thing.Ignored
DislikedHi there,
FTB equals First Time Back. It is when you expect a support or resistance level to flip once it has been broken then retested for the first time. Resistance turned support, support turned resistance.
There are traders in FF who use this approach as their primary strategy as it can give a good risk to reward ratio (See this weeks charts).
1683.10 acted as resistance, price broke through, retested for the First Time Back, hey presto... resistance turned support.
It's usually better to find added confluence with these sort of...Ignored
Dislikeda big happy bday to the man who started a truly amazing thread that has changed so many of our lives for the better, and continues to for so many new faces
Happy bday James
Ignored
DislikedHappy Birthday James.
May you be surrounded by your family and friends on this auspicious day.Ignored
DislikedNice confluence on Gbp/Usd in my opinion.....
61%Fib-TrendLine-Round number-PPZ
I think it worth to look for a PA on lower TF.Ignored
DislikedGreat Locational Confluence, benem . .Strong Bearish PA would be on the watch on the lower TFs for me.
What's great about these confluence levels is that they can be traded in either direction . .meaning if we get a strong Close above this level the potential for it turning into Support looks good. .Ignored
DislikedI have been a PF member since yesterday and have only slept for 2 hours...
What Mike said above is exactly true.
Also,Darxstar, Jaroo has his own section on PF and more than worth the money alone..Ignored
DislikedOther things that will help quite a bit are reading all of the posts by the major players on the forum. Those include at a minimum Mike (MBQB11) and James (James16). I would suggest that you start with Mikes though as his method most closely follows the original method. James posts are great (esp in the beginning) but are a touch more advanced in what he has been posting recently. Jim's (Jarroo) spin on J16 is killer as well. His methodology will hone you into a PPZ big game hunter.
RyanIgnored
DislikedHello Sir scooterboy,
the blue line? yes.
mine may not be in the exact same price but yes, that area as a PPZ is valid IMHO.
the more precise flips, the better/stronger the PPZ.
darxtar
this guy... he posted here recently
http://www.forexfactory.com/showthre...25#post5113825Ignored
DislikedHello Sir scooterboy,
the blue line? yes.
mine may not be in the exact same price but yes, that area as a PPZ is valid IMHO.
the more precise flips, the better/stronger the PPZ.Ignored
DislikedThought that this was an intersting area to keep an eye on for some possible PA. Not at a swing low, but it is at an interesting PPZ none the less. If it continued to have a weaker CHF (which is what speculation about how all CHF pairs will be headed), then this would be at the 1.25 BRN and also have the PPZ at 1.2415 in it's favor.
I am also trying to get my head wrapped around propper usage of all of Jarroo's terms. The 1.2415 line would be HCR due to the recent previous closes that it has been unable to break through, correct? I understand...Ignored
DislikedI'll give my 2 pips on Jarroo's concepts and how you can use them. You're right your line is a HCR (highest close of resistance) and we wait for Price to break through and close above using the level as an entry (touch or lower time frame P/a) or possible S/L assuming you have other confluence there. Also notice how that line lines up with the swing low/bar low to the left of the chart - a very good piece of confluence. So we're currently bearish the short term until PBT&CA 1.2415 (1.2420 on my feed). Jarroo teaches we look for HCR/LCS in areas...Ignored
DislikedExcellent, D . .. that's more then 2 pips worth that's the whole kit and kaboodle . .
These Swing Points are (usually) pivotal levels . .meaning Price will either continue at their respect major Support or Resistance level . .or they will pivot or transition to their opposite; Support to Resistance or Resistance to Support.
I will also look at the Weekly levels, especially on the "crazy crosses".
We still my get a nice bounce at the 1.2472 Weekly LCS level.Ignored
DislikedTake a look at where you could have entered on this monster audnzd rally... to the pip! (1.2356)
Hindsight is a beautiful thing.Ignored
DislikedOr where you could have added cargo...within 4 pips. Gotta use the hindsight to identify the areas to watch for high probability setups!!Ignored