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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

  • #111,361
  • May 7, 2012 2:43am May 7, 2012 2:43am
Quoting jarroo
Technically, this PB has already fullfilled its expectation . .it hit its 1st target albeit a minor one . .that's the 1st FTA. But being this PB is off a strong Weekly level it has good potential to go further down.

The 4 Hour PB at 1.6450 entry looked really good in size . .still using Daily and Weekly targets.
As the 1st FTA you mean the high of the 22th march candle?

But if we enter below the pinbar - conservatively - we are allready in this area.
Thoughts are things
  • #111,362
  • May 7, 2012 2:44am May 7, 2012 2:44am
Quoting Bones
change in market ?
Ok . .so where is your entry or setup? Are you looking for PA? Bullish? or Bearish?

Sorry Bones, your chart is a bit confusing to me. I don't now what your saying on it . .sorry again.
Indicators show the past. Price Action "Indicates" the future.
  • #111,363
  • May 7, 2012 2:47am May 7, 2012 2:47am
Quoting mbqb11
update

closed this one on gap up near target
You are so good, man
  • #111,364
  • May 7, 2012 3:19am May 7, 2012 3:19am
Quoting Quezoy
ah... now I get your point, jarroo

Its just that I like more space till strong area.
Very good criteria to have more Space, Que . .the PB could have been bigger too. The confluences that fasc has given may be enough to bring this down to that major level on the daily.
Indicators show the past. Price Action "Indicates" the future.
  • #111,365
  • May 7, 2012 3:25am May 7, 2012 3:25am
Quoting Quezoy
As the 1st FTA you mean the high of the 22th march candle?

But if we enter below the pinbar - conservatively - we are allready in this area.

That's correct. So it could be a pass situation or a James16's "This is Critical" or we can gauge the momentum of the break of this 1st target and start making some Closes below it, etc.

But first and foremost, once these target(s) are hit, we must do some action on our part towards the trade management of the setup. . .reduce risk . .move to break even, etc.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #111,366
  • May 7, 2012 3:31am May 7, 2012 3:31am
No prob Jim ,im short

Quoting jarroo
Ok . .so where is your entry or setup? Are you looking for PA? Bullish? or Bearish?

Sorry Bones, your chart is a bit confusing to me. I don't now what your saying on it . .sorry again.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,367
  • May 7, 2012 3:33am May 7, 2012 3:33am
Tnx for the answers jarroo.

Im working through your compiled posts ATM and its really a rich source of information.
Thoughts are things
  • #111,368
  • May 7, 2012 3:35am May 7, 2012 3:35am
Trade

Quoting Bones
No prob Jim ,im short
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 7-5-12 h4 10.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,369
  • May 7, 2012 3:50am May 7, 2012 3:50am
Also eu 1.2800,see how day closes ,gap there but risky to play I feel right now



Quoting Bones
along with eu
Attached Image (click to enlarge)
Click to Enlarge Name: euusd -7-12 h4 10.gif Size: 26 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,370
  • Edited 4:59am May 7, 2012 3:57am | Edited 4:59am
Quoting jarroo
Not sure where you got your Weekly Lowest Close of Support (LCS) levels, h2. . .then again I can't see them on your chart.

maybe I can help . .

There were 2 Weekly LCS levels . .2 levels but one Swing Low because of the damn gaps . .

These 2 WLCS levels were the only ones relative to current Price over the last few weeks. Throw in the Daily LCS levels and it gets interesting.

Were these "blue arrows" long crazy levels to enter? . .not if you're a Jarroo Fan and know how to trade them. .

I know what you're asking yourself. .Could the...

Quoting human2
Hey Jim, thanks for taking the time to reply. Here's my weekly chart showing the 2 WLCS levels that I was looking at. Have I got this right?http://www.forexfactory.com/attachme...1&d=1336328795
I must admit that I don't fully understand when you say those Damn Gaps! On your chart the lower level of the WLCS, is that not an opening price, do you not just take the lowest CLOSE of support as opposed to the lowest opening of support?
Yes, those Weekly LCS levels are good ones h2, but I was using the lowest Swing Point's LCS levels on the Weekly.

I use FxPro for my charting due to their New York Close time (the NY Close is aligned with other finacal markets that also close at 5:00 PM EST . .etc.)

Due to the weekend, there are usually gaps that form upon Monday when the brokers open.

Since I use HCR/LCS levels these gaps mess up my Close levels . .so I say, "damn you gaps for messing up my close levels!!" . . . its more jokingly then anything . . . . because there are many traders that trade the gap very effectively. . but I damn them . .. So I use both of these levels, the Close and "Open".


What is the Open of Price? Its just the previous Day's or previous bar's Close, correct? Have you seen High/Low/Close charts before? . .why don't they use the "Open" on those charts? . .because they don't need the "Open".
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadddww07.gif Size: 24 KB
Indicators show the past. Price Action "Indicates" the future.
  • #111,371
  • May 7, 2012 4:02am May 7, 2012 4:02am
Tl could be good


Quoting Bones
Trade
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Click to Enlarge Name: gbp usd h4 7-5-12.png Size: 35 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,372
  • May 7, 2012 4:08am May 7, 2012 4:08am
Support in danger ,cad tricky currency

Quoting jarroo
Yes, those Weekly LCS levels are good ones h2, but I was using the lowest Swing Point's LCS levels on the Weekly.

I use FxPro for my charting due to their New York Close time (the NY Close is aligned with other finacal markets that also close at 5:00 PM EST . .etc.)

Due to the weekend, there are usualy gaps that form upon Monday when the brokers open.

Since I use HCR/LCS levels these gaps mess up my Close levels . .so I say, "damn you gaps for messing up my close levels!!" . . . its more jokingly then anything . . . . because there...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,373
  • May 7, 2012 4:14am May 7, 2012 4:14am
Quoting Bones
Support in danger ,cad tricky currency
Tricky in what way, Bones?

Targets hitting nicely . .
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad07bbb.gif Size: 31 KB
Indicators show the past. Price Action "Indicates" the future.
  • #111,374
  • May 7, 2012 4:17am May 7, 2012 4:17am
Cad itself is hard work ,cad I think will be weak,but weekly EC says down
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,375
  • May 7, 2012 4:29am May 7, 2012 4:29am
Quoting Bones
Cad itself is hard work ,cad I think will be weak,but weekly EC says down
Ok, Bones.
Indicators show the past. Price Action "Indicates" the future.
  • #111,376
  • May 7, 2012 4:32am May 7, 2012 4:32am
Quoting Quezoy
Tnx for the answers jarroo.

Im working through your compiled posts ATM and its really a rich source of information.

Thanks Que.
Indicators show the past. Price Action "Indicates" the future.
  • #111,377
  • May 7, 2012 4:39am May 7, 2012 4:39am
Quoting jarroo
Thanks Que.

hello jarroo

is eur aud a good set up ? < pinbar in a good location>

thanks for the answer jarroo

regards
suma
  • #111,378
  • May 7, 2012 4:41am May 7, 2012 4:41am
Quoting sumakianlee
hello jarroo

is eur aud a good set up ? < pinbar in a good location>

thanks for the answer jarroo

regards
suma
Where's your chart, suma? . .
Indicators show the past. Price Action "Indicates" the future.
  • #111,379
  • May 7, 2012 4:45am May 7, 2012 4:45am
Quoting jarroo
Where's your chart, suma? . .

this is my chart

regards
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  • #111,380
  • May 7, 2012 4:54am May 7, 2012 4:54am
Quoting sumakianlee
this is my chart

regards
Looks like it worked out nice, suma . .

Nice size PB on the 4 Hour . .off Daily Resistance levels . .

What's your target(s)?
Indicators show the past. Price Action "Indicates" the future.
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