james16 Chart Thread

Quoting haircut

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Thanks Jarroo

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Quoting haircut

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This really is simple Jarroo but i am beginning to be confident in the method and trying to pick these areas myself

thanks so much
Haircut

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Quoting Pinbar

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We were not talking about shorting it just yet, we were talking about the 90.46 area acting as support and possible showing us some bullish PA.

Agree though, the 90 area has got to go first, before shorting it.

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Quoting jarroo

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What's the Daily and Weekly HCR level, (Feb. 24th) ? ..yeah I know, damn gaps!! . .lol

If the daily can close below this level I like the Daily BEOB ..if it can't close below this level, we could be going up from here . .

sorry gotta go . .(post and run)


Jim

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Quoting jarroo

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Hey Pinbar here's the levels I was talking about . .the Daily / Weekly HCR levels. . .90.59-90.79 . .(damn gaps).

Price reacted predicably when PBT&CA initially at these levels and then chopped about after that (in blue) ..probably more so the Weekly HCR level coming into play.

So Price has figured out that these levels are now Support. So any "Close of Price" that are above or below them ( on the Daily and/or Weekly) we can determine if they are acting as Support or Resistance.

Daily could not close below these levels .its now Support...

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Quoting Magestic

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Good day, Jarroo.

Wanted to send you a private message, but I cant do that yet. So I'm sorry if there is an answer on my question somewhere on this forum.

Can you please tell what is PBT&CA/CB, and maybe there is information about this method somewhere on this forum for proper understanding. Would be so gratitude for the answer.

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Quoting Pinbar

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Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving...

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Quoting Magestic

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Thank you so much, Jarroo!

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Quoting jarroo

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I've had a few questions of how I trade. It comes from the common market dynamic of a Resistance level will turn into a Support level when Price breaks through them . .and vice versa. I use the Close Above or Below to confirm this transition.

This Daily chart on the Aud/Usd illustrates this very nicely . .

James16 Price Action setups fit very well with this market dynamic . .we like to see Bullish PA at Support and Bearish PA at Resistance to provide further confirmation of these levels.

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Quoting jarroo

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Notice what Price is dealing with right now . . this LCS level (90.97). .Why? because Price Broke Through it and Closed below it . .

Its acting as Resistance right now . .if we can close above it . . .it could easily act as Support.

I know this level is not at a deep Swing Low but they can be very strong still . .as you know . .

Jim

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Quoting Pinbar

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Ahh, thanks Jim, now I worked out where I went wrong.

I sort of ignored the last SH, perhaps because the reaction on the retest was not there, price just broke above it without too much of a reversal.
This is wrong, I realize now and as you say a weekly and daily level, may be much stronger than a weekly level on its own.
There actually was a reaction though as you say, price flipped from resistance to support.

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Quoting jarroo

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Yeah I see what you saw . .the damn gaps didn't help either . .lol

Just try and stay more near term with the levels . .don't get me wrong . .I do the same thing . .lol . .then I find the the most recent HCR/LCS levels can be just as reactive . .especally when a trend is beginning. .

Jim

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Quoting Pinbar

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Yes, I think you worked out my problem which is also related to that space question I asked. I am loooking so far back and finding these areas all over the place, I never know which one to trust and which one to be wary about.
I guess that is why, we can wait for STF PA.

You think I should use the vertical line function and use only 2 years of data for a while? But then, it would be hard to ignore these SHs. LOL


I think this is why I have been spinning my wheels a lot recently.
Do, people in the PF also come across the same problem?

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Quoting jarroo

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Some in the PF may have the same problem but I do a ton of video responses to posted questions . .a few webinars. .as you may know . .

So a lot of questions are answered not with just a post but with videos too . .

Jim

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Quoting Pinbar

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I hear you, Jim.

Maybe it is because, I tend to start out on the Monthly & weekly charts, instead of just using the weekly.

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Quoting jarroo

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Hey Pinbar could you show me on the weekly UsdCad the most recent HCR and LCS levels . .not to put you on the spot or anything . .

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Quoting Pinbar

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Sure, give me a sec.

I was just looking at this, bearish entries all over the place.
Will post the UC in a white chart.

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Quoting jarroo

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Where's the Weekly chart ? . ..Weekly HCR & LCS levels. .one HCR and one LCS on the Weekly

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Quoting Pinbar

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No, I was just checking out your setting on that last chart.

Here is the weekly USDCAD, which I did as I normally would.

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