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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

  • #105,541
  • Jan 3, 2012 4:58am Jan 3, 2012 4:58am
Hmm, we have the 61.8 confluencing with the 1.03515 weekly LCS.
However, this is the 3rd time back on the weekly TF and price & Obviously, price is hanging around here trying to breakout of this area.

I would be interested in Jarroo's view on this area.
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  • #105,542
  • Jan 3, 2012 5:00am Jan 3, 2012 5:00am
Quoting cold chisel
A question for Jarroo and Pinbar.
How long do you still call a level valid, especially when the LCS or HCR is in traffic? I tend to call a monthly level valid upto three years, weekly one upto two years and daily levels upto a year depending on the situation on the chart and the volatility of a pair. What are your point of view on this.
Thanks in advance.

Better wait for Jarroo to answer but, I know he generally likes to use around a year of data for his swing points. Unless, there is a lot of space to the next possible trouble area.
  • #105,543
  • Jan 3, 2012 5:09am Jan 3, 2012 5:09am
Quoting Pinbar
Better wait for Jarroo to answer but, I know he generally likes to use around a year of data for his swing points. Unless, there is a lot of space to the next possible trouble area.
Ok, no worries I'll wait. Thanks.
  • #105,544
  • Jan 3, 2012 6:22am Jan 3, 2012 6:22am
Quoting Pinbar
EU at an interesting monthly area with an IB on the lower TF.
I dont think it is a good position to short it .EVEN the monthly trend is bearish ,but the lower TF, there is the small bullish trend ,when the small trend is opposite with the big trend ,i will not follow the big trend ,or i have to trade the very small lot . i may trade against the big trend,but how can i trade against the small trend . just my opinion.
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A chart helps those who can read it.
  • #105,545
  • Jan 3, 2012 6:51am Jan 3, 2012 6:51am
Quoting Pinbar
Sure, here you go.

There was not enough space to go all the way down the chart but, you can see where we would have got taken out.

There is one exception to moving the SL, if we count back two bars and the 1st bar is higher than the 2nd bar back, we use the 1st bar instead of the second bar back.

Got a Damn power outage from 8 pm so I am fighting against the clock here.
Thank you very much, Pinbar, by the way, I like your name very much.
----------------------------- Discipline makes the difference.
  • #105,546
  • Jan 3, 2012 7:02am Jan 3, 2012 7:02am
Quoting geniusztc
I dont think it is a good position to short it .EVEN the monthly trend is bearish ,but the lower TF, there is the small bullish trend ,when the small trend is opposite with the big trend ,i will not follow the big trend ,or i have to trade the very small lot . i may trade against the big trend,but how can i trade against the small trend . just my opinion.
You have lost me Gen.

If the main trend is bearish, as you say, why would you follow the small trend? Why would you trade against the Main trend?
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  • #105,547
  • Jan 3, 2012 7:36am Jan 3, 2012 7:36am
Quoting Pinbar
You have lost me Gen.

If the main trend is bearish, as you say, why would you follow the small trend? Why would you trade against the Main trend?
because i HAVE TO have a good SL zone ,for example 30pips---50pips .i mean ,if the main trend is bearish ,then a 100pips bullish pulling back is rational. but more than 100 pips sl zone is not rational . but if i trade the small trend ,even against the main trend ,at least i do not risk too much .

maybe i am wrong ,you know that ,as a young man ,i do not know too much .
A chart helps those who can read it.
  • #105,548
  • Jan 3, 2012 7:41am Jan 3, 2012 7:41am
Quoting geniusztc
because i HAVE TO have a good SL zone ,for example 30pips---50pips .i mean ,if the main trend is bearish ,then a 100pips bullish pulling back is rational. but more than 100 pips sl zone is not rational . but if i trade the small trend ,even against the main trend ,at least i do not risk too much .

maybe i am wrong ,you know that ,as a young man ,i do not know too much .

I am afraid that I can not follow your reasoning. It has nothing to do with you being right or wrong. Who cares about such stuff, the market certainly doesn't.
I mean, in my mind the size of the SL has nothing to do with account size, it has to do with what size of a position we take according to the size of the account.

You know, I often see Jarroo with a 30 pip stop, entering on a lower TF setup which is sometimes a daily or even weekly PA setup.
  • #105,549
  • Jan 3, 2012 7:51am Jan 3, 2012 7:51am
Quoting Pinbar
I am afraid that I can not follow your reasoning. It has nothing to do with you being right or wrong. Who cares about such stuff, the market certainly doesn't.
I mean, in my mind the size of the SL has nothing to do with account size, it has to do with what size of a position we take according to the size of the account.

You know, I often see Jarroo with a 30 pip stop, entering on a lower TF setup which is sometimes a daily or even weekly PA setup.
yes ,30pips stop can also a weekly setup .
A chart helps those who can read it.
  • #105,550
  • Jan 3, 2012 8:19am Jan 3, 2012 8:19am
I think I worked out what went wrong with the EU setup.

Somehow, I mistook that M30 IB for being the FTB after PBT&CB, probably too zoomed in to notice.
It was actually not the FTB but the Second time back and as Jarroo often says, the second time back, price can break through and flip the area from Resistance to Support or visa vie.
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  • #105,551
  • Jan 3, 2012 11:30am Jan 3, 2012 11:30am
Quoting Pinbar
I think I worked out what went wrong with the EU setup.

Somehow, I mistook that M30 IB for being the FTB after PBT&CB, probably too zoomed in to notice.
It was actually not the FTB but the Second time back and as Jarroo often says, the second time back, price can break through and flip the area from Resistance to Support or visa vie.
and also because of the pin bar ,and the support trend line on daily chart .now price has broken the down trend line on daily chart ,lets see the daily close price ,and the presistance zone on h1 chart .then we will have another chance .
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A chart helps those who can read it.
  • #105,552
  • Jan 3, 2012 12:14pm Jan 3, 2012 12:14pm
.....
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  • #105,553
  • Jan 3, 2012 12:40pm Jan 3, 2012 12:40pm
Hi,
what do you think about this one?
I see support @ MA 365 and BRN @1.01 on daily.

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  • #105,554
  • Jan 3, 2012 12:46pm Jan 3, 2012 12:46pm
Quoting trc
Hi,
what do you think about this one?
I see support @ MA 365 and BRN @1.01 on daily.

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Hey Trc

Just be careful here, were fighting a pretty strong move down. Also notice the tail of your pinbar, we want that to stick far away from previous price. When the lows are close like that with a smaller bar vs a strong move these often get people into trouble especially on the lower timeframes. i would be watching lower the previous swing low and also parity just under there(my preferred)

Best
Mike
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  • #105,555
  • Jan 3, 2012 2:25pm Jan 3, 2012 2:25pm
Quoting sniper012
...Anyone can look back at a two week old chart and tell me what took place 2 weeks ago. Everyone looks like a guru in hindsight. I want to see who is actually trading in a real account or at least in real time...You're probably right as far as me hanging around here. What's to be gained? A bunch of "traders" talking about this set up and that set up but never showing us an actual trade?
D1 Level, H1 PA, 1:4 R:R... oh and it's not FXCM

"What's to be gained?" Modesty
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  • #105,556
  • Jan 3, 2012 2:40pm Jan 3, 2012 2:40pm
Quoting trc
Hi,
what do you think about this one?
I see support @ MA 365 and BRN @1.01 on daily.

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I agree this pair may have found some support @ 1.0080 and I am looking for a small buy. The stock market is trying to fill its gap too which is good for a long on this pair
If you think you can or cannot do it you are correct
  • #105,557
  • Jan 3, 2012 3:28pm Jan 3, 2012 3:28pm
Quoting the_wizard
I wonder if any of you guys can help me?

I can't understand what I did wrong this year.

I had such a great idea for a business but it just fell apart.

The idea was simple : I know a supplier that I can get items from really cheap and it was my intention to sell them on for a nice profit in the expensive area I live in (people will pay extortionate prices!!)

I guess my misfortune was a combination of a terrible economic climate and a good old dose of bad luck because my business failed right from the start.

Let me tell you what happened....
I am just going to say exactly what I see as I read. It sounds like you say exactly what is going on when you described your friend that you say you don't like. He is operating a BUSINESS, but it sounds like you are operating a roulette wheel. Even if one of your ideas takes off it sounds like it would only cause your eventual fall to be that much harder.

Ryan

Ha ha nice analogy. Was typing and thinking this sounds like an analogy, but it didn't even hit me until after I posted. Def got me thinking
  • #105,558
  • Jan 3, 2012 5:32pm Jan 3, 2012 5:32pm
I don't have any idea what you're talking about in the first part of your response. Secondly, what's not FXCM? Lastly, it has nothing to do with modesty. If I'm looking at a chart for tomorrow and I post it on here, I can so easily come back on this forum on thursday and say "yeah, I took this trade that I was telling you guys about" if it happens to go my way. if it doesn't go my way, I can come back and say, "Nah, i didn't take this trade that I was telling you guys about because..." Where's the proof either way if I don't post trades with the pips right on the chart? You know how often I read idiots talking about how they made 800 pips last night and they traded this pair and that pair but have nothing to back that up? Look, if you get something out of reading guys pretending to be traders, good for you. I just say show and prove. I post winning trades and losing trades alike. If I was posting only losing trades, you would never fix your mouth to mention anything about modesty, would you? Well just for you, the next time I lose a trade, I am going to post that chart and then I am going to PM you just to make sure you look at it and then maybe you can stop making assumptions about what I'm doing.
Quoting 5.25
D1 Level, H1 PA, 1:4 R:R... oh and it's not FXCM

"What's to be gained?" Modesty
  • #105,559
  • Jan 3, 2012 6:48pm Jan 3, 2012 6:48pm
Quoting sniper012
I don't have any idea what you're talking about in the first part of your response. Secondly, what's not FXCM? Lastly, it has nothing to do with modesty. If I'm looking at a chart for tomorrow and I post it on here, I can so easily come back on this forum on thursday and say "yeah, I took this trade that I was telling you guys about" if it happens to go my way. if it doesn't go my way, I can come back and say, "Nah, i didn't take this trade that I was telling you guys about because..." Where's the proof either way if I don't post trades with...
If you read the thread instead of mouthing off, you will see people not only post trades, you will see them post areas days or even weeks before hand and explain that we may see some bullish or bearish PA at this area. Also, I posted a losing trade chart a couple of pages back. I see others post them also.


If you hate this place and the people in it so much, why don't you just do what you keep threatening to do and leave. You may as well now as, nobody is ever going to teach you Jack Shit, after behaving in the manner you have.


Blahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
  • #105,560
  • Jan 3, 2012 7:15pm Jan 3, 2012 7:15pm
Ok, let's ask Jarroo for his opinion on what made this weekly level stronger than the monthly area.
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