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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

  • #105,941
  • Edited 3:34pm Jan 16, 2012 12:37pm | Edited 3:34pm
Quoting zamfir
Thanks Jaroo. I shall look for the bigger story in this case..


so far i m loving PA with S/R.

Would you also agree that PA + S/R is closest thing that comes to predicting future price movements, from your experience..

Absolutely, zamfir . . . .I would take it one step further, that PA is the product of or the result of Support of Resistance levels. Meaning the PA formations are "born" from S/R levels or from other types of S/R stories like Price Patterns.

That's why I say we like to see PA as "part of a bigger story". . .. many new traders to this material (which I was one) think that PA "is the bigger story".

Once we see that PA as part of a bigger story instead of thee story . .we can see the market as a whole and have a better chance to exploit it.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #105,942
  • Jan 16, 2012 1:12pm Jan 16, 2012 1:12pm
Quoting adaighy
Hi Jim,

Would you mind explaining this part in a little more details? Do we take the immediate previous high/low? Or a use of HCR and LCS?

Thanks!
Sure adaighy. . .

Absolutely we use both previous Highs/ Lows and HCR/LCS as targets. Actually using HCR/LCS levels as targets can be a great level to reverse the trade and go the other way, but that is another story . .

Here's a great example and exercise for you and others to take ..

This Silver chart shows a Lowest Close of Support (LCS) level that is a Monthly, Weekly and Daily level.

What would be the Monthly, Weekly and Daily targets for this setup once Price Breaks Through and Closes Below (PBT&CB) on the Daily?

Targets are defined as previous Highs and Lows . .and previous HCR/LCS levels.

Remember, if we have a Monthly level, we have Monthly targets . .Weekly levels have Weekly targets . . Daily levels have Daily targets.

I'll do the Daily first . .Targets are blue . .chart 2 is zoomed in on the Daily.
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Indicators show the past. Price Action "Indicates" the future.
  • #105,943
  • Jan 16, 2012 2:04pm Jan 16, 2012 2:04pm
Quoting jarroo
Absolutely, zamfir . . . .I would take it one step further, that PA is the product of or the result of Support of Resistance levels. Meaning the PA formations are "born" from S/R levels or from other types of S/R stories like Price Patterns.

That's why I say we like to see PA as "part of a bigger story". . .. many new traders to this material (which I was one) think that PA "is the bigger story".

Once we see that PA as part of a bigger story instead of thee story . .we will...
Stick that to your screen folks

  • #105,944
  • Jan 16, 2012 2:29pm Jan 16, 2012 2:29pm
Quoting jarroo

Once we see that PA as part of a bigger story instead of thee story . .we will can see the market as a whole and have a better chance to exploit it.

Jim
Couldn't agree more. And it took a few months to figure that out.

Thanks Jim and Mike for all that you've done and still continue to do
  • #105,945
  • Jan 16, 2012 3:42pm Jan 16, 2012 3:42pm
Quoting mbqb11
Stick that to your screen folks


Guess where I got that from ?. . its just your words, Mike. . . I just said it a little differently . .or maybe it is word for word . .lol

Glad you're feeling better, bro . .

Jim

Quoting jarroo
Search out many many of Mike's posts and charts where he shows "stories" of Price Patterens breaking out where PA does not appear at a Swing Highs or Low but part of a bigger story unfolding.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #105,946
  • Jan 16, 2012 3:43pm Jan 16, 2012 3:43pm
Quoting jarroo
Absolutely, zamfir . . . .I would take it one step further, that PA is the product of or the result of Support of Resistance levels. Meaning the PA formations are "born" from S/R levels or from other types of S/R stories like Price Patterns.

That's why I say we like to see PA as "part of a bigger story". . .. many new traders to this material (which I was one) think that PA "is the bigger story".

Once we see that PA as part of a bigger story instead of thee story . .we can see...
Nice
  • #105,947
  • Jan 16, 2012 3:44pm Jan 16, 2012 3:44pm
Quoting Ifmyante
Couldn't agree more. And it took a few months to figure that out.

Thanks Jim and Mike for all that you've done and still continue to do

Thanks Ifmyante, . its a lot of fun to be here . .
Indicators show the past. Price Action "Indicates" the future.
  • #105,948
  • Jan 16, 2012 10:32pm Jan 16, 2012 10:32pm
This is looking very interesting.

Going to wait for a DCA.
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  • #105,949
  • Jan 16, 2012 11:01pm Jan 16, 2012 11:01pm
Quoting Pinbar
This is looking very interesting.

Going to wait for a DCA.
Here's one I'm watching. 4H BUOB off of weekly LCS. I think this could be good for a move up to 1.2800-1.2820. I'm actually hoping to see it push back up to LCS at 1.2905 for opportunity to short
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  • #105,950
  • Jan 16, 2012 11:26pm Jan 16, 2012 11:26pm
Quoting Donkey
Here's one I'm watching. 4H BUOB off of weekly LCS. I think this could be good for a move up to 1.2800-1.2820. I'm actually hoping to see it push back up to LCS at 1.2905 for opportunity to short

Yeah, nice consolidation and monthly double barrels.

I also think it can hit the 1.2800 area with this H4 DIV kicking in.
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  • #105,951
  • Jan 16, 2012 11:43pm Jan 16, 2012 11:43pm
Yeah Donkey.

Or a close above it and a pullback for a long.

We don't care which way it goes, as long as we are with it.
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  • #105,952
  • Jan 16, 2012 11:56pm Jan 16, 2012 11:56pm
Quote
Once we see that PA as part of a bigger story instead of thee story . .we can see the market as a whole and have a better chance to exploit it.

so so...just to confirm..we must first look for good S/R levels and then PA forming there, correct? and not the other way around. I mean we must not look for PA first and then S/R.
  • #105,953
  • Jan 17, 2012 12:07am Jan 17, 2012 12:07am
Quoting zamfir
so so...just to confirm..we must first look for good S/R levels and then PA forming there, correct? and not the other way around. I mean we must not look for PA first and then S/R.
Yeah, you got it!

When, we start learning PA, first we can not find any, then we see it all over the place and finally, we understand that the PA must have a logical reason to form. Meaning, it is these deep Swing Highs & Swing Lows, bar highs and bar lows, that cause the PA to be born. The S&R is the cradle, the PA, the baby, that can either crawl or run, depending on where its feet are.

Good job....I think your post will help a great many people.
  • #105,954
  • Jan 17, 2012 1:18am Jan 17, 2012 1:18am
Just found another great example of what Jarroo is teaching us, as I was scanning my charts for current areas.

What a beauty, at a strong area and with a reasonably small SL.
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  • #105,955
  • Jan 17, 2012 2:23am Jan 17, 2012 2:23am
M30 DBLHC right at the TL.

May breakout and pullback.

Just going to watch this one as I do not like the 75.70 area.
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  • #105,956
  • Jan 17, 2012 2:31am Jan 17, 2012 2:31am
Quoting Pinbar
M30 DBLHC right at the TL.

May breakout and pullback.

Just going to watch this one as I do not like the 75.70 area.

Hello to everyone

TL 75.75 look worth the long
But it's difficult for me to believe that he will continue up lot


Sorry for my bad English
  • #105,957
  • Jan 17, 2012 3:48am Jan 17, 2012 3:48am
Quoting Yehuda Sh
Hello to everyone

TL 75.75 look worth the long
But it's difficult for me to believe that he will continue up lot


Sorry for my bad English

No need to apologize for your English, you should hear my Chinese, which is terrible, right now.

I do not like this PPZ at 75.73.
Maybe if we get a daily close above it and a pullback to it with PA, it may be feasible. But , not right now as, we want price to move away from such an area, not into it.
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  • #105,958
  • Jan 17, 2012 4:38am Jan 17, 2012 4:38am
Quoting Pinbar
No need to apologize for your English, you should hear my Chinese, which is terrible, right now.

I do not like this PPZ at 75.73.
Maybe if we get a daily close above it and a pullback to it with PA, it may be feasible. But , not right now as, we want price to move away from such an area, not into it.
Hello everyone

Are now also considered a TL/j cad
  • #105,959
  • Jan 17, 2012 4:53am Jan 17, 2012 4:53am
Don't like the look of the H4 confluence with the 365 & the 61.8 fibo on the FTB at this PPZ area.
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  • #105,960
  • Jan 17, 2012 5:01am Jan 17, 2012 5:01am
Hello All,
I found Pin bar on GBP/USD M15.
Whats wrong with it? Is it incorrect pin bar?

Thanks!
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