Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #112,661
- Jun 5, 2012 2:01am Jun 5, 2012 2:01am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
- #112,662
- Jun 5, 2012 2:05am Jun 5, 2012 2:05am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hey HG
I'm not rulling out Price returning to test this lower HCR level on the UsdJpy (in green).
Much like Price did on the GbpJpy.
I knew those levels were going to get hit . .I just didn't know when .. lol . . .on the UsdJpy ...
Indicators show the past. Price Action "Indicates" the future.
- #112,664
- Jun 5, 2012 2:26am Jun 5, 2012 2:26am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
My bad..
sigh. i still have much to learn.
. .My S/R method of trading is a bit new to many traders . .but not that different from others who trade S/R levels . .like James16 . .
Indicators show the past. Price Action "Indicates" the future.
- #112,665
- Jun 5, 2012 2:34am Jun 5, 2012 2:34am
No "bad" in here . .fasc . .
Should be more than worth 25 pips wouldn't you say?
- #112,666
- Jun 5, 2012 2:35am Jun 5, 2012 2:35am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Did we pick the Low of the Day? (give or take 2 pips, it is after all demo feed). . .only time will tell .
1st target getting hit.
Where Chanya . .he's missing this . .
Indicators show the past. Price Action "Indicates" the future.
- #112,667
- Jun 5, 2012 2:38am Jun 5, 2012 2:38am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
If anything, this made me learn something - never commit to a trade without wholly assessing Weekly S/R ( or LCS, HCR) levels.
Should be more than worth 25 pips wouldn't you say?
. .worth a whole lot more than that in my book. .lol . .
Indicators show the past. Price Action "Indicates" the future.
- #112,668
- Jun 5, 2012 2:40am Jun 5, 2012 2:40am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
2nd target breaking through . .
Where Chanya . .he's missing this . .
Indicators show the past. Price Action "Indicates" the future.
- #112,670
- Jun 5, 2012 2:47am Jun 5, 2012 2:47am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Bam!! . .how's that for real time . .
Chanya . .we can see that Price is breaking through our targets we now place our S/L under our targets . . .We can take use full or partial postions.
You got to love that small draw down . .at the 1.0086.
The 1.0100 was also a valid entry but at a premium Price.
Initiall S/L could have been placed 25-30 pips below the 1.0086 entry. . .same S/L placement for the 1.0100 entry.
Where would you take profits or manage this trade?? . .Would you be at break even or full profits at the PPZ level?
James16 would say it would come down to your account size . .a bigger account would take profits at the targets (full or partial) . .
A smaller account may be at break even . .(Oh no, not another break even trade .) . . .or take a loss on a profitable trade . for James16's sake, I hope not.
Indicators show the past. Price Action "Indicates" the future.
- #112,671
- Jun 5, 2012 2:51am Jun 5, 2012 2:51am
We may get another shot at it, chidsel . .
Some lower TF PA and/or Signatures will be our guide . .
That weekly pin may have given all it's going to give already.
- #112,672
- Jun 5, 2012 2:54am Jun 5, 2012 2:54am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Oh yes, I had mistakenly spotted a 4-hr TT earlier on when this should be the correct one.
Attachment
. . then PBT&CA on the Weekly and even the Daily we didn't get a Close below these levels . .well maybe a weekend close below . .damn gaps . .
Indicators show the past. Price Action "Indicates" the future.
- #112,673
- Jun 5, 2012 2:58am Jun 5, 2012 2:58am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #112,676
- Edited 3:59am Jun 5, 2012 3:46am | Edited 3:59am
Sorry beebo . .I miss that post . .
You may be right . .trading within consolidation sure is messy .
Well worth looking at the channel on this pair is all i'm saying.
BTW - i've spent the last week or so going through every pair my broker offers and adding the Jarroo lines (recently changed my setup so lost a lot of chart drawings in the process). I dont personally use your method but i do use the lines and now i'm finding my own style with J16/Jarroo/SD and other PA it's really really helpful. Nice one
EDIT - this channel we are in is the lower section and we've been in it a while now, i.e. weakness. But maybe we're moving up into another section which would see it all back in business. As always, it's 'if but and maybe' but thats trading i guess.
- #112,678
- Jun 5, 2012 4:08am Jun 5, 2012 4:08am
Hey B,
I've been following your posts very closely and is enjoying the learning process very much. Just one question though - is there any chance you can explain or show us how to draw these demand levels so well from "base of pole" with such great precision? - it's a fairly new concept for me so i'd love to to hear more from you!
Many Thanks in advance
Back to the question at hand.... well it comes with practice and time. I've recently been in a position to spend a lot of time studying trading so it's been 8-10h per day every day for months. that has been the single best help to me after the initial knowledge share from the legends dotted around FF.
Identifying SD zones is pretty easy once you practice it a bit. There's an indi (attached ) which can get you started but manual identification is best and the only way i do it now. PM me if you want more details as it will open up debate which is not J16 stuff.
