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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

  • #104,221
  • Nov 9, 2011 4:04pm Nov 9, 2011 4:04pm
Quoting picon1
How have you taken these trades meshka? I don't see any J16 setups on your chart to suggest an entry. Just trying to get my head around it
the case with EURJPY is little bit advanced because of these boxed areas below this pin on 4H... but I decided to go because this weekly pin is so obvious. 400 pips bar! and it is on 107 - many times tested S/R zone...bulls are totaly rejected last week in my view and my target is 100.00

EURUSD had big BEOB on weekly too. so I zoomed in to 4H and entered 1.3790 with stp 1.3880 - above 1.3830-60 zone which was S/R zone also.
now Iam out partialy at close of pinbar on 4H 1.3610. looking for retest of 1.3650 now - will add some...

in general i look for PA on weekly or daily TF on good levels then I zoom-in to 4H or 6H and look for better price and reasonable stoploss.
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all is eternal - this is good news for people who loves bad news
  • #104,222
  • Nov 9, 2011 7:58pm Nov 9, 2011 7:58pm
Some nice setups. BUOB on USDCHF off 0.900 BRN.

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And also take a look at GBPUSD. it isn a real BEOB..but i like the way price fell below the 150 and 365 EMA through BRN of 1.6000 plus bearish divergence.

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  • #104,223
  • Nov 9, 2011 8:15pm Nov 9, 2011 8:15pm
As an aside, notice the "double top" on GBPUSD on more traditional TA setups?

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  • #104,224
  • Nov 9, 2011 8:46pm Nov 9, 2011 8:46pm
Can Jarroo or anyone here following his method closely comment if this setup looks right?

Bar with the arrow is PBT&CB PPZ (dotted line) and then when next bar touches dotted line again, we go down to lower TF to look for appropriate PA bars to enter? Is this in line with Jarroo's methodology? Thanks
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  • #104,225
  • Nov 9, 2011 9:43pm Nov 9, 2011 9:43pm
Quoting Fx7877
Can Jarroo or anyone here following his method closely comment if this setup looks right?

Bar with the arrow is PBT&CB PPZ (dotted line) and then when next bar touches dotted line again, we go down to lower TF to look for appropriate PA bars to enter? Is this in line with Jarroo's methodology? Thanks
Not the man himself, but I think you are on the right track and have found a nice level on the pair....what I've seen most that are learning this method do is either a pure TT on a pullback to the the level once PBT&C A/B (B in this case) or as you say look for lower TF PA.

One thing I find is that levels are strongest when there is a lot of confluence (imagine that??) and a good sign is when you see multiple bar highs/lows lining up (both previous the HCR/LCS and after).

First chart I'm attaching shows how I currently look at the story of ChfJpy. Second is how I might look to trade it and shows some additional confluences of the area (previous LCS and RN). I personally like to see multiple HCR/LCS bracketing Round numbers.

I know charts are cluttered, but I hope they help.
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  • #104,226
  • Nov 9, 2011 9:52pm Nov 9, 2011 9:52pm
Quoting fascist
Some nice setups. BUOB on USDCHF off 0.900 BRN.

Attachment

And also take a look at GBPUSD. it isn a real BEOB..but i like the way price fell below the 150 and 365 EMA through BRN of 1.6000 plus bearish divergence.

Attachment

I like the USDCHF....I have pending order in on the retrace.

I'm leary of the GU....price could definitely break lower and does appear to have momentum. Although price did close below the BRN, I see the ppz as really wide in this area...I'm staying out of this pair (for a while probably) but if traded would manage tightly.
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  • #104,227
  • Nov 9, 2011 11:50pm Nov 9, 2011 11:50pm
I like the confluence of factors especially the bearish divergence off BRN and below EMAs. USDCHF lacking those factors but looking ok at the moment. Triggered my buy limit. Let's see how it turns out.
  • #104,228
  • Nov 10, 2011 1:30am Nov 10, 2011 1:30am
Quoting Fx7877
Jarroo,
From the understanding that I have of your method, your look for PPZ on . . . Thanks!
Jarroo,
From the understanding that I have of your method, your look for PPZ on wkly or daily time frames (HCR, LCS, where PBT&CA or PBT&CB) and then go down to lower TF for PA bars to execute. Pls correct me if this understanding is wrong. Yes, that's correct . . but not just PPZ levels they can be HCR/LCS levels at deep swing points and the Tops (HCR) and Bottoms (LCS) on Consolidation areas.

For GBP/CHF charts that u have posted, are u using PA on 1hr chart for entry or just TT with sell stop order once it hits the red line? Yes, that's correct. I'm asking this as the bar on 1hr chart with its tip at the red line looks like a neutral bar to me, instead of PB. If its a neutral bar, then there would have been no entry if based on PA. Hope u can explain as I'm still new to ur method. On my feed it was a DBHLC (or a 2 Hour PB) on the Hourly which is great PA confirmation to stay in the trade when I took a Touch Trade at this level. Proper, quality PA ( Structure, Size, Confluence, etc) is always better than a TT. PA that agrees with these levels , meaning bearish PA at a Resistance level is always a better confirmation.
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Indicators show the past. Price Action "Indicates" the future.
  • #104,229
  • Nov 10, 2011 1:37am Nov 10, 2011 1:37am
Quoting dropkick-cat
Been watching this area since early October. 2 days ago: PBT&CA. Man, I was getting sweaty fingers waiting for the retrace & bounce (on demo, mind you).
Moved stop to BE.
Nice one dkc . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,230
  • Nov 10, 2011 1:43am Nov 10, 2011 1:43am
Quoting Donkey
Not the man himself, but I think you are on the right track and have found a nice level on the pair....what I've seen most that are learning this method do is either a pure TT on a pullback to the the level once PBT&C A/B (B in this case) or as you say look for lower TF PA.

One thing I find is that levels are strongest when there is a lot of confluence (imagine that??) and a good sign is when you see multiple bar highs/lows lining up (both previous the HCR/LCS and after).

First chart I'm attaching shows how I currently look at the story of...

Great stuff, D . . . .You are the Man .
Indicators show the past. Price Action "Indicates" the future.
  • #104,231
  • Edited 2:31am Nov 10, 2011 2:10am | Edited 2:31am
Quoting 5.25
Audusd has my attention.

1.0400 is proving to have quite some resistance. A breakout or break and retest could be nice?
1.400 held through.

Price broke to the down side closing below the Daily LCS at 1.01551.
Entry at retest, arbitrary 30-40 stop loss, 1:2 RR profits already taken, stop loss at break even, lets see if we can get to 0.99874 (next Daily HCR). Money in the bank, free trade here onwards for a weekly bonus.


Quoting jarroo
Great stuff, D . . . .You are the Man .
You're too modest... no YOU the man
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  • #104,232
  • Nov 10, 2011 2:16am Nov 10, 2011 2:16am
Quoting dropkick-cat
Been watching this area since early October. 2 days ago: PBT&CA. Man, I was getting sweaty fingers waiting for the retrace & bounce (on demo, mind you).
Moved stop to BE.
Oh my, still in this one for the full position. Consecutively moved the SL up. Hell if I know what to do now. I was only thinking until the FTA @ 1.5650-1.5670. Probably have to do some math on what happens if I take partial profit at x etc...

Also,

Jarroo
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  • #104,233
  • Nov 10, 2011 2:48am Nov 10, 2011 2:48am
Quoting jarroo
Jarroo,
From the understanding that I have of your method, your look for PPZ on wkly or daily time frames (HCR, LCS, where PBT&CA or PBT&CB) and then go down to lower TF for PA bars to execute. Pls correct me if this understanding is wrong. Yes, that's correct . . but not just PPZ levels they can be HCR/LCS levels at deep swing points and the Tops (HCR) and Bottoms (LCS) on Consolidation areas.

For GBP/CHF charts that u have posted, are u using PA on 1hr chart for entry or just TT with sell stop order once it hits the red...
Thanks Jarroo. I was actually referring to the chart u posted here on H4 http://www.forexfactory.com/attachme...8&d=1320818288 when I talked abt the neutral bar. It seems u entered on hrly chart instead.
  • #104,234
  • Edited 3:16am Nov 10, 2011 2:53am | Edited 3:16am
Quoting Donkey
Not the man himself, but I think you are on the right track and have found a nice level on the pair....what I've seen most that are learning this method do is either a pure TT on a pullback to the the level once PBT&C A/B (B in this case) or as you say look for lower TF PA.

One thing I find is that levels are strongest when there is a lot of confluence (imagine that??) and a good sign is when you see multiple bar highs/lows lining up (both previous the HCR/LCS and after).

First chart I'm attaching shows how I currently look at the story of...
Thanks Donkey! I think on my data feed, the bar with the arrow has closed below quite decisively (unlike yours which didn't quite close below) and the next day made the retrace nicely. Opportunity gone for me, but just looking back to study. Thanks again.

Edit: There is similar pattern on CADJPY as well
  • #104,235
  • Nov 10, 2011 6:31am Nov 10, 2011 6:31am
Quoting dropkick-cat
Oh my, still in this one for the full position. Consecutively moved the SL up. Hell if I know what to do now. I was only thinking until the FTA @ 1.5650-1.5670.
And out at SL for +169 pips. I should have had a plan for the 1.58 BRN. A lot of focus on setup and entry finding, not letting stuff turn into a loss. Have to work on scenarios like these, when the trade is running very good.

But to think of me eight weeks ago, barely able to tell a bull from a bear candle and now this...
(and I still have the feeling of knowing close to naught)

Thanks everyone for making this such an awesome place!

Alex
  • #104,236
  • Nov 10, 2011 8:42am Nov 10, 2011 8:42am
Quoting Fx7877
Thanks Donkey! I think on my data feed, the bar with the arrow has closed below quite decisively (unlike yours which didn't quite close below) and the next day made the retrace nicely. Opportunity gone for me, but just looking back to study. Thanks again.

Edit: There is similar pattern on CADJPY as well
I think you're taking the right approach. There are many opportunities and different ways to use Jarroo's material/ideas. Looks like you're seeing them real time....which is huge plus. Keep it up!!
  • #104,237
  • Nov 10, 2011 8:44am Nov 10, 2011 8:44am
Quoting dropkick-cat
And out at SL for +169 pips. I should have had a plan for the 1.58 BRN. A lot of focus on setup and entry finding, not letting stuff turn into a loss. Have to work on scenarios like these, when the trade is running very good.

But to think of me eight weeks ago, barely able to tell a bull from a bear candle and now this...
(and I still have the feeling of knowing close to naught)

Thanks everyone for making this such an awesome place!

Alex

Awesome trade!!!! Nothing at all wrong with having a STOP loss hit for a 169 pip profit.
  • #104,238
  • Nov 10, 2011 9:32am Nov 10, 2011 9:32am
Anyone watching this breakout on GOLD ?
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  • #104,239
  • Nov 10, 2011 9:48am Nov 10, 2011 9:48am
I'll monitor this set up,but i won't take it due the lack of space we have.....but nice confluence i do believe.
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Patience is essential
  • #104,240
  • Nov 10, 2011 9:57am Nov 10, 2011 9:57am
Quoting Rust
Anyone watching this breakout on GOLD ?
Personally I like 1738 ish for long touch trade.
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