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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

  • #109,741
  • Apr 3, 2012 6:04am Apr 3, 2012 6:04am
Quoting heaven
anybody watching this ? i'm thinking of shorting this if we close below that trendline and the 365, with the idea that it should at least go until 1.01 as a FTA, then parity. am i wrong with anything? what do you guys think?

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Im watching this one.

Big pivot zone right now so tricky but break below 1.0280 could be good for a run down.
I'd like to see a crack at 1.030 with some nice low TF bearish PA for a cheap entry but i dont see this as clear cut so be careful.
  • #109,742
  • Apr 3, 2012 6:14am Apr 3, 2012 6:14am
Quoting jarroo
Excellent I would have take this one the .9986 as well.

Stop looking at those levels so far back . . lolol . .you can't help yourself can you . .lol

My chart doesn't show those level on purpose . . .stay recent ..

Notice how reactive these levels were . .nice . .

Yes, I was just making this chart with these two levels, and wondering if these are the two you wanted. Thanks Jim
My FXpro feed is a slightly different.
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  • #109,743
  • Apr 3, 2012 6:17am Apr 3, 2012 6:17am
Quoting Pinbar
Yes, I was just making this chart with these two levels, and wondering if these are the two you wanted. Thanks Jim
My FXpro feed is a slightly different.
Yes ..excellent . .now let's wait and see PBT&CAorB these levels on the Weekly or the Daily

Just keep it that simple, my friend . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,744
  • Apr 3, 2012 6:27am Apr 3, 2012 6:27am
Quoting jarroo
Excellent I would have take this one the .9986 as well.

Stop looking at those levels so far back . . lolol . .you can't help yourself can you . .lol

My chart doesn't show those level on purpose . . .stay recent ..

Notice how reactive these levels were . .nice . .

Thanks Jim

Maybe two monthly and two weekly are the way to go.

But, I will stay mainly on the weekly, trying to find areas that line up with the daily.
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  • #109,745
  • Apr 3, 2012 6:33am Apr 3, 2012 6:33am
Just can not take my eyes off this consolidation HCR.
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  • #109,746
  • Apr 3, 2012 6:36am Apr 3, 2012 6:36am
Quoting Pinbar
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.
i am not sure ,isnt it in the box ?
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A chart helps those who can read it.
  • #109,747
  • Apr 3, 2012 6:44am Apr 3, 2012 6:44am
Quoting geniusztc
i am not sure ,isnt it in the box ?
Yeah but as J16 says, "If we can't trade these consolidation areas, then we have no hope of trading successfully".
  • #109,748
  • Apr 3, 2012 6:45am Apr 3, 2012 6:45am
Quoting jarroo
Some in the PF may have the same problem but I do a ton (ok, maybe not a ton but very many ..lol) 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
They sure are, thanks again Jim. About the levels, I use for (monthly and weekly) levels only 2 years of data, daily levels upto 6-8 months old. But ... I'm a fairly new Jarrooer.
  • #109,749
  • Apr 3, 2012 6:55am Apr 3, 2012 6:55am
Quoting cold chisel
They sure are, thanks again Jim. About the levels, I use for (monthly and weekly) levels only 2 years of data, daily levels upto 6-8 months old. But ... I'm a fairly new Jarrooer.
How can you use two years of data but only 6-8 months old?

Isn't that a contradiction.
  • #109,750
  • Apr 3, 2012 6:58am Apr 3, 2012 6:58am
Quoting jarroo
Excellent I would have take this one the .9986 as well.

Stop looking at those levels so far back . . lolol . .you can't help yourself can you . .lol

My chart doesn't show those level on purpose . . .stay recent ..

Notice how reactive these levels were . .nice . .
Where would you put your stop loss in this case? I would go for 40 pips and no more, something like 1.0025
  • #109,751
  • Apr 3, 2012 7:00am Apr 3, 2012 7:00am
Quoting Pinbar
How can you use two years of data but only 6-8 months old?

Isn't that a contradiction.
2 years of data for monthly and weekly levels, 6-8 months for daily levels.
  • #109,752
  • Apr 3, 2012 7:03am Apr 3, 2012 7:03am
Quoting cold chisel
2 years of data for monthly and weekly levels, 6-8 months for daily levels.

Ahh, I get you.

Thanks, that is a good enough idea.
Keeps the daily current and you have the Monthly & weekly sps as targets if the daily areas break.
  • #109,753
  • Apr 3, 2012 7:06am Apr 3, 2012 7:06am
Quoting jarroo
Excellent I would have take this one the .9986 as well.

Stop looking at those levels so far back . . lolol . .you can't help yourself can you . .lol

My chart doesn't show those level on purpose . . .stay recent ..

Notice how reactive these levels were . .nice . .
lol I'm having the same problem too. There are so many levels from the past it looks like price cannot move 10 pips in any direction without breaking through, bouncing back or closing right on some level. Thanks for the tip jarroo, will try how it works for me.
  • #109,754
  • Apr 3, 2012 7:12am Apr 3, 2012 7:12am
Quoting Pinbar
Ahh, I get you.

Thanks, that is a good enough idea.
Keeps the daily current and you have the Monthly & weekly sps as targets if the daily areas breaks.
I'm in a process of creating some testing rules for several years of data, trying to find out which levels are working better, it seems to be, that weekly levels are winning by a hair. The problem is that we don't have a lot of monthly levels, at least 3-4 times less than the weekly ones. But... daily levels, specially the current ones work pretty good to, even by themselves without an extra confluence from weekly and monthly ones. If I will be able to come with some results in the future, I'll let you know.
  • #109,755
  • Apr 3, 2012 7:26am Apr 3, 2012 7:26am
Quoting cold chisel
I'm in a process of creating some testing rules for several years of data, trying to find out which levels are working better, it seems to be, that weekly levels are winning by a hair. The problem is that we don't have a lot of monthly levels, at least 3-4 times less than the weekly ones. But... daily levels, specially the current ones work pretty good to, even by themselves without an extra confluence from weekly and monthly ones. If I will be able to come with some results in the future, I'll let you know.

Thanks CC, look forward to it.
The problem is becoming too anal with these areas.

Jarrooo, always makes it look so easy with just a couple of lines on the charts.
  • #109,756
  • Apr 3, 2012 7:31am Apr 3, 2012 7:31am
Quoting beebolbod
Im watching this one.

Big pivot zone right now so tricky but break below 1.0280 could be good for a run down.
I'd like to see a crack at 1.030 with some nice low TF bearish PA for a cheap entry but i dont see this as clear cut so be careful.
How about this :
(i took it )
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  • #109,757
  • Apr 3, 2012 7:40am Apr 3, 2012 7:40am
Quoting Rust
First major trouble area of 1.3250 broke pretty hard and nice , which is lovely as now i can use it as expected resistance if price pulls back
Cristal ball works
Look what happened :
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  • #109,758
  • Apr 3, 2012 7:41am Apr 3, 2012 7:41am
too soon perhaps rust? but then again what do i know? i'm gonna wait for the daily to close and then we'll see...
  • #109,759
  • Apr 3, 2012 8:07am Apr 3, 2012 8:07am
Hey heaven ,
I meant the reaction of the marked area 1.3250
About the trade i am pretty happy with the outcome
  • #109,760
  • Apr 3, 2012 8:34am Apr 3, 2012 8:34am
i was talking about the audcad... congrats on the other
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