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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

  • #112,701
  • Jun 5, 2012 12:08pm Jun 5, 2012 12:08pm
Quoting mbqb11
all the XXX/jpy pairs are basically the same for me. I like the chf/jpy the best though if I had to pick. I think it will work out still or at least again you can reduce the majority of your risk. I also am always thinking about how i am going to manage my trades and I felt that they would give me trouble.

Here is an A++++++ pinbar
http://www.forexfactory.com/showthre...24#post5727524

huge pin at swing low.


Attached is a recent trade from last week a bit more complicated because without the larger story it's...
Mike, how I understand from your charts, you didn't use a classic PA (pin bars,beobs,buobs, etc) in your trades mostly, right?
  • #112,702
  • Jun 5, 2012 12:14pm Jun 5, 2012 12:14pm
Quoting Quezoy
If you look at H4 you see price making LL's and LH's and IMO it has still a handfull of pips till support.
It appears this momentum is still intact, thats why I would not go long yet.
Thanks for your opinion, Quezoy. Cheers!
  • #112,703
  • Jun 5, 2012 12:19pm Jun 5, 2012 12:19pm
Quoting Victor63
Mike, how I understand from your charts, you didn't use a classic PA (pin bars,beobs,buobs, etc) in your trades mostly, right?
Hey Victor

Both those were pinbars. One a bullish pinbar(the big bullish pinbar at the swing low) the other was a bearish pinbar at a swing high

Let me know if that makes sense
Mike
  • #112,704
  • Jun 5, 2012 1:04pm Jun 5, 2012 1:04pm
Quoting jarroo
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.
Dude , this is awesome , thank you !!!
Human
  • #112,705
  • Jun 5, 2012 1:14pm Jun 5, 2012 1:14pm
Quoting jarroo
I like it, Pinbar . . . .I have the 0.7612ish level because it lines up with some nice Weekly LCS levels . .I like that 150 ema coming into play too . .
Please guide me on this one , when PBT&Cb here , we would have put our pending stop at the retest of the level right ., but where would our initial stoploss be ? If it was behind the level we were putting our pending order , our stops would have been hit would'nt it ?
Human
  • #112,706
  • Jun 5, 2012 1:45pm Jun 5, 2012 1:45pm
Quoting jarroo
2nd target breaking through . .


Where Chanya . .he's missing this . .
How is this as a trade Sir ?
Attached Image (click to enlarge)
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Human
  • #112,707
  • Jun 5, 2012 1:57pm Jun 5, 2012 1:57pm
Looks like gold is forming a pennant after that huge move up to 1620. Possible bullish breakout?
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  • #112,708
  • Jun 5, 2012 2:25pm Jun 5, 2012 2:25pm
Quoting Venic
Looks like gold is forming a pennant after that huge move up to 1620. Possible bullish breakout?
I was looking at this one, but I'll be very careful here. Watching the 30m chart. I could put some hugely reduced risk if i see i nice setup.
  • #112,709
  • Jun 5, 2012 3:33pm Jun 5, 2012 3:33pm
Quoting fascist
Are my weekly HCR and LCS levels correctly mark by the red lines?

Attachment
Hey fasc,

Your chart looks good . .but we want to weed out some the levels and pick the strong ones . . the Deep Swing Highs/Lows and areas of Consolidation (the Tops and Bottoms) are where we find the stronger HCR/LCS levels.

On the Weekly, there are usually two levels there . .the Open and Close of Price because of the damn gaps . . damn you gaps!!!! . . they mess up my Close levels . .

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #112,710
  • Jun 5, 2012 3:38pm Jun 5, 2012 3:38pm
Quoting beebolbod
No worries, it's just we've been on opposite sides on this pair since last week and i think that could be rather confusing for people. Ignoring this channel, which is a trend and not consolidation, will hamper any analysis on this pair.

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...
Thanks beebo . . these HCR/LCS levels can be great for locating Support and Resistance levels.

Its a level in the market where Price . .for whatever reason . . can't close above or can't close below . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,711
  • Jun 5, 2012 4:15pm Jun 5, 2012 4:15pm
Quoting Pinbar
Thanks Jim (Jarroo that is)

I shall watch this very closely

Did not quite make it today.
Came close to it . .

Looks like we may get some consolidation building at these Weekly levels . .no surprise, consolidation tends to build from these levels.

That's a big gap at the Weeky LCS level .. lol . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #112,712
  • Jun 5, 2012 4:22pm Jun 5, 2012 4:22pm
Quoting Chanya
Please guide me on this one , when PBT&Cb here , we would have put our pending stop at the retest of the level right ., but where would our initial stoploss be ? If it was behind the level we were putting our pending order , our stops would have been hit would'nt it ?

S/L could go above the Weekly Highs . TT entry would be at the .7612. Also, Bearish PA on the Daily, 4 Hour or Hourly TFs off the .7612 level.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #112,713
  • Jun 5, 2012 4:27pm Jun 5, 2012 4:27pm
Quoting Chanya
http://www.forexfactory.com/showthre...07#post5722007

Here was my post on this one , I think I am getting good , But at the same time , I also think I am transforming to a jarrorer now !!!
Its more like 90% James16 and Mike(mbqb11) and 10% me . .

50 % Jorrooer , 50 % J16 ... Who is "Jorrooer"??
Indicators show the past. Price Action "Indicates" the future.
  • #112,714
  • Jun 5, 2012 4:28pm Jun 5, 2012 4:28pm
Quoting Chanya
I wish there were also some GALS here too , but I regret to inform you that making money from forex requires BRAIN usage ... As far as I know , they would rather steal then use brain .....
Easy now . .women have great brains and temperment for trading . .probably more so than men . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,715
  • Jun 5, 2012 4:31pm Jun 5, 2012 4:31pm
Quoting jarroo
Easy now . .women have great brains and temperment for trading . .probably more so than men . .

Jim
yes come on that is very uncalled for. I requested a clean up. No place for that in this thread AT ALL.


Mike
  • #112,716
  • Jun 5, 2012 4:31pm Jun 5, 2012 4:31pm
Quoting jarroo
Its more like 90% James16 and Mike(mbqb11) and 10% me . .

50 % Jorrooer , 50 % J16 ... Who is "Jorrooer"??
I thought this term already existed !!! Jarrooer means follower of Jarroo ... I am sure I heard It somewhere before ...
Human
  • #112,717
  • Jun 5, 2012 4:32pm Jun 5, 2012 4:32pm
Quoting Chanya
How is this as a trade Sir ?
Where is your Weekly LCS level?? and How does it line up with your Daily LCS?

A classic James16 "This is Critical" on the EurJpy . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,718
  • Jun 5, 2012 4:45pm Jun 5, 2012 4:45pm
Quoting jarroo
That Hour big BUOB is the kind of PA Mike like to see . .

AudCad . .Did we pick the Low of the Day (1.0086) . . . .only time will tell.

Jim
Quoting jarroo
UsdChf . .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.
Looks like we did pick the Low of the Day on both pairs . .interesting . . .
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #112,719
  • Jun 5, 2012 4:46pm Jun 5, 2012 4:46pm
Quoting jarroo
Where is your Weekly LCS level?? and How does it line up with your Daily LCS?

A classic James16 "This is Critical" on the EurJpy . .
Ummm I do not understand what you mean by this ...
Human
  • #112,720
  • Jun 5, 2012 4:52pm Jun 5, 2012 4:52pm
Quoting Chanya
Ummm I do not understand what you mean by this ...

This is James16's "This is Critical" and see how it relates to that EurJpy PB. . .mainly #4.


Quoting james16
YES!!!


THIS IS CRITICAL.


WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.


if we know its there we have several choices.
1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.


jim
Indicators show the past. Price Action "Indicates" the future.
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