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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

  • #104,301
  • Nov 13, 2011 6:32pm Nov 13, 2011 6:32pm
Quoting fxdealer
Hi Guys,

I am a member of James16 and just wanted to find out if anyone had thoughts for the EUR/AUD pair?

anything infromation would help cheers.
Hey Dealer

Right now were stuck in some pretty tight consolidation. I prefer to wait till we get out of this range. On the lower timeframes opportunities could be had at the tops and bottoms as well


Best
Mike
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  • #104,302
  • Nov 13, 2011 7:08pm Nov 13, 2011 7:08pm
Quoting fxdealer
Hi Guys,

I am a member of James16 and just wanted to find out if anyone had thoughts for the EUR/AUD pair?

anything infromation would help cheers.
A Test of Patience is what I see.
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Aside for Now.

B
  • #104,303
  • Nov 13, 2011 7:56pm Nov 13, 2011 7:56pm
Quoting lazar-85
Hello, could you share with idikatorom with price level. please!!
Here you go.
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  • #104,304
  • Nov 13, 2011 7:59pm Nov 13, 2011 7:59pm
Hi Guys,


Thanks for your Feedback!!

Cheers

Please Call me Parry
  • #104,305
  • Nov 13, 2011 9:16pm Nov 13, 2011 9:16pm
Quoting Gpfx
Please can anyone point me towards a previous post that explains fully the HCR & LCS levels and how to use them for trade entry? and if there are any posts that summarize jarroo's methods.

With all the talk latley of Jarroos methods and success I am keen to learn, however this thread is so large I have had real trouble pin pointing the key info and dont really know where to start.

Many thanks for all help

GP

Quoting dropkick-cat
Feels a bit like:



Love that movie

Gpfx, no offense intended, mate. It's just that ever since I began following this thread, the very question you asked gets asked every other week or even more frequent. That, of course, doesn't make it less valid for the asker. If you keep reading, you'll notice it, too! I find it hilarious, but maybe my sense of humour is off, dunno....

Anyway, happy trading & take care,
Alex

Thanks Alex . .for your help . .


Ooopps! . .I did make a mistake on that chart . I meant to say the "Low lining up" with the LCS level, not the "High lining up".

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #104,306
  • Nov 13, 2011 9:20pm Nov 13, 2011 9:20pm
Quoting Rockie
I gotta go with ted on this.
I have my 9 with a clip full of fun.
"The 2nd amendment is my CCW" . ..nice one Rockie . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,307
  • Nov 13, 2011 9:25pm Nov 13, 2011 9:25pm
Quoting dropkick-cat
Wow, just wow. Pinbar breaks, the market tries to bag some tight stops (or maybe bounces from Nov 9th H1 PPZ at around 1.5630 ?), and goes to the FTA, not breaking below 1.5600, and there it stays for the day.

I didn't play it, did not have enough confidence in the setup. But if I had, I'd very probably have tried to go for a tighter SL than full bar and would have been caught red-handed, lol.

To see it develop like this in real time ... priceless. Another 10 experience points in the bank
The 1.5500 BRN . . . would be nice for some Bullish PA . . . on the Gbp/Aud. .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,308
  • Nov 13, 2011 10:04pm Nov 13, 2011 10:04pm
Quoting Fx7877
Thanks Jarroo, that clears up my head ...but also opens up more questions, haha!
Q&A with Jarroo:
-you mentioned that once a TT is taken, having ageeable or complimenting PA ( on different TFs) that is in your favor is always good confirmation that your entry is correct. What do u do if after taking TT, you get unfavourable PA? Do you close out prematurely?No. Keep tighter SL?? etc. If I don't get confirming PA I would use the the Close of Price to get me out of the trade . . . .meaning if Price Closes above my short entry on the Hourly or 4 Hour this would take me out of the trade. Confirming PA is not an "end all be all", its just nice to get that additional confirmation.

-When u do a TT, do u take the trade right at the dot? E.g. PBT&CB LCS which is drawn at 1.2345. At retrace,

a) U take the TT at 1.2345 OR
b)U take the TT at slightly higher (to make sure its not fake out) say +5pips at 1.2350 OR
c) when price nears 1.2345 (yet to touch it) and u-turn back down

If your option is b) or c), I'd like to know how much allowance u give within the line drawn e.g. +/- 5 pips ,+/- 10pips to enter the TT. I will usually use a buffer of 3 to 5 pips depending on the time frame and pair, the could be smaller or larger . . . so in your example it would be short at 1.2340-42.



I refer to the chart you posted above http://www.forexfactory.com/attachme...0&d=1320958726 on daily AUDUSD. When PBT&CA, you indicated 2 opportunities for entry.
Q1) Does the 1st entry i.e. FTB to the HCR usually carry better chance than 2nd or subsequent entries? This depends on the strength of the level . .meaning is it a BRN at a HCR level with confluences, etc. At which pt do we say OK, this HCR or LCS has been tested enough and won't work e.g Why wouldnt the 4th bar (big red bar) after 2nd entry bar be another possible entry since it also hit the HCR line drawn? Again it depends on the Strength of the level and that 4th bar (big red bar) didn't Close below the HCR so yes that level was still acting as Support.

Q2) When PBT&CA/B, do u have a certain rule that says if valid setup doesn't come in next Xth bar, then to forget abt keeping in watchlist? I have to say this again but it depends on the Strength of the level. I do like the immediate retest or retrace to confirm the transition but Price may leave the level for some time only to return and work out with a nice bounce.



Your answer to these questions will sure add more clarity for me, thks

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #104,309
  • Nov 13, 2011 10:36pm Nov 13, 2011 10:36pm
Quoting Chelski
I was looking for a possible touch trade here , after we had such a strong close below this "zone" and there were so many bar lows above that had failed i thought we might see a nice move when it came first time back. Given the size of the bar that closed below and the smaller bar yesterday any pointers would be appreciated.
Hey Chelski . .That's a great PPZ level at the 1.3650ish on the Euro.

The "nice move" you're talking about is Price hitting its targets . .which it did . pevoious bar Lows in this case. . . (as seen on the 4 Hour TF).

So your thinking is correct, Chelski . . Price did turn into Resistance when Price broke through . .and Closed below . .. that PPZ level . .mutli bar Highs and Lows are great levels to watch.

Hope my charts aren't too messy,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #104,310
  • Nov 13, 2011 10:39pm Nov 13, 2011 10:39pm
Quoting gungriffin
Amen to that. It is amazing that something so simple can be capable of producing something so powerful. Love reading your posts.
Thanks bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,311
  • Edited Nov 14, 2011 1:55am Nov 13, 2011 11:00pm | Edited Nov 14, 2011 1:55am
Quoting gungriffin
Hey Jarroo (or others fluent with the method),

Was just wondering what your thoughts are on something like this EurChf pair where there was the weekly bearish OB that hit the previous LCS (now acting as resistance) and then there was very little move down? How does that factor into your trading plan (or does at all)? Also, what weight do you give to factors like the strong gap up over the weekend that never really closed?

Thanks
Ryan
Hey Ryan . .It tells me that PA Rules . . .That Weekly BEOB hit its target nicely. . .Also how important the Targets really are when we trade for profit taking and trade management. . .so now we know why it was a "very little move down", it hit its target. . ..

It also tells me that since Price reacted so strongly upwards from that target more bullish movement my be in store . .and those Resistance levels (HCR LCS) may be turning (or returning) into Support soon . . . .just a thought

I'm not so sure of the gap on the "crazy crosses" . .damn those gaps!! they mess up my Closes . .
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Indicators show the past. Price Action "Indicates" the future.
  • #104,312
  • Nov 13, 2011 11:15pm Nov 13, 2011 11:15pm
hey folks hows it goin? i think I'm going to test this one (aussie H4)
1.0200 acting as PPZ, plus 50% fib confluence and trendline. Going to watch PA around those area

-what do you guys think?
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  • #104,313
  • Nov 13, 2011 11:37pm Nov 13, 2011 11:37pm
Quoting PinWing
I have a question about your TT. Do you use them in HCR and LCS?, because I have seen this levels are soo good to bound price everytime you have a bar that PBT&CA (or PBT&CB). I have been trying with this, and those trades are the ones messing around with my Profit/Loss ratio, lol.

Best wishes to every1

Hector
Yes, I do use TTs at HCR/LCS levels when PBT&CAorB them . .I would use PA instead of a TT at these levels first . .PA is always a great confirmation of the transition.
Indicators show the past. Price Action "Indicates" the future.
  • #104,314
  • Nov 13, 2011 11:44pm Nov 13, 2011 11:44pm
Quoting 5.25
GBPJPY 122.258 has my attention:

- FTB to Daily & Weekly HCR
- 50% Fibs

Current PB looks tempting only I dislike the weak close and the traffic. Pass.
Still no Close Above, T . .Ok, it may have Opened above but no Close above .. (damn gaps . .lol)
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Indicators show the past. Price Action "Indicates" the future.
  • #104,315
  • Nov 14, 2011 12:54am Nov 14, 2011 12:54am
Yeah, Damn those Gaps.

They are not playing fair, LOL
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  • #104,316
  • Edited 2:10am Nov 14, 2011 1:14am | Edited 2:10am
Quoting jarroo
Hey Chelski . .That's a great PPZ level at the 1.3650ish on the Euro.

The "nice move" you're talking about is Price hitting its targets . .which it did . pevoious bar Lows in this case. . . (as seen on the 4 Hour TF).

So your thinking is correct, Chelski . . Price did turn into Resistance when Price broke through . .and Closed below . .. that PPZ level . .mutli bar Highs and Lows are great levels to watch.

Hope my charts aren't too messy,

Jim
Thanks,

I trade daily and thought we might get more resistance once we broke this area. I can see the 4h bounces as per your chart. I Guess it will revert to support now? (charts make perfect sense and clean!!)
  • #104,317
  • Nov 14, 2011 2:02am Nov 14, 2011 2:02am
On touch trades, would the 1.37 level also be a multiple lows support for a long entry or if PBT & CB we take a short on the test?

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  • #104,318
  • Nov 14, 2011 2:03am Nov 14, 2011 2:03am
Quoting scooterboy
hey folks hows it goin? i think I'm going to test this one (aussie H4)
1.0200 acting as PPZ, plus 50% fib confluence and trendline. Going to watch PA around those area

-what do you guys think?
I like the way you think scooterboy . . . . .Locational Confluence . multiple confluences lining up at one level . .very nice .. .

The Rac-man (razcekfx) would be smiling at that one. .
Indicators show the past. Price Action "Indicates" the future.
  • #104,319
  • Nov 14, 2011 2:07am Nov 14, 2011 2:07am
Quoting Pinbar
Yeah, Damn those Gaps.

They are not playing fair, LOL
I hear ya, Pb . .lol . . You just have to look at both levels . .
Indicators show the past. Price Action "Indicates" the future.
  • #104,320
  • Nov 14, 2011 2:20am Nov 14, 2011 2:20am
Quoting fascist
On touch trades, would the 1.37 level also be a multiple lows support for a long entry or if PBT & CB we take a short on the test?

Attachment
Yes that's right fasc. I like the chances of it turning into Support because Price failed to act as Resistance when PBT&CB recently . .
Although there was a small Resistance bounce at that level on the Hourly . .not very convincing.
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Indicators show the past. Price Action "Indicates" the future.
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