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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

  • #112,721
  • Jun 5, 2012 7:07pm Jun 5, 2012 7:07pm
Quoting Chanya
I thought this term already existed !!! Jarrooer means follower of Jarroo ... I am sure I heard It somewhere before ...

Here perhaps. LOL
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  • #112,722
  • Jun 5, 2012 7:14pm Jun 5, 2012 7:14pm
Quoting jarroo
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 . .

I like the 365 confluence.
Today this order will get filled, I feel.


Thanks Jim
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  • #112,723
  • Jun 5, 2012 7:16pm Jun 5, 2012 7:16pm
Quoting Pinbar
I like the 365 confluence.
Today this order will get filled, I feel.


Thanks Jim

Hey pinbar , can you plz tell me have I drawn all the levels correctly here ?
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Human
  • #112,724
  • Jun 5, 2012 7:38pm Jun 5, 2012 7:38pm
EUR/GBP... Look promising, FTA is hitted...

I woke up late and miss enter this trade...
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  • #112,725
  • Jun 5, 2012 9:25pm Jun 5, 2012 9:25pm
Quoting Pinbar
I like the 365 confluence.
Today this order will get filled, I feel.


Thanks Jim
I like the way you think, Pinbar . .Lower TF conflences that gather at our Higher TF level can only add strength to it . .


Also, the the Daily HCR levels may play a part with the Weekly .7612 level. . .meaning Price may spike up and hit the Daily HCR levels yet still close below the .7612.
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Indicators show the past. Price Action "Indicates" the future.
  • #112,726
  • Jun 5, 2012 9:27pm Jun 5, 2012 9:27pm
Quoting Chanya
Hey pinbar , can you plz tell me have I drawn all the levels correctly here ?
That looks good Chanya . . red lines are the HCR/LCS levels . .blue lines are the targets (previous Highs.Lows) . .nice. .
Indicators show the past. Price Action "Indicates" the future.
  • #112,727
  • Jun 5, 2012 9:30pm Jun 5, 2012 9:30pm
Quoting gadogado
EUR/GBP... Look promising, FTA is hitted...

I woke up late and miss enter this trade...
Quoting jarroo
Here's one to watch on the EurGbp at the 0.8093 Highest Close of Resistance level . .


Classic, gado . . . .1st target hit! . .

Nice Hourly, 4 Hour . .and Daily Signatures ..
Indicators show the past. Price Action "Indicates" the future.
  • #112,728
  • Jun 5, 2012 10:06pm Jun 5, 2012 10:06pm
Quoting jarroo
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.

So how did you do or are doing on this live trade managent example?

Should I go for the long term runner or take profits when they are given to me at target levels?


This is why what Mike teaches is so valuable . . . and why I try to attend everyone of his webinars.

What Mike shows is that great bigger picture or story of market sturture as a whole . .the overall market dynamic that taking place in the market. . .or developing in the market.

So if we can enter into that market dynamic when it . . .shifts . .or changes . .we can be in a great position to see a longer term runner, potentially.

Now is this consolidation breakout on the Audcad that market shift in structure? Maybe . .I'll have to check with Mike ..
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Indicators show the past. Price Action "Indicates" the future.
  • #112,729
  • Jun 6, 2012 1:14am Jun 6, 2012 1:14am
Quoting jarroo
Sorry I missed your post sooze.

Here are some basic diagrams on how I trade . .
Thanks for your response,I am familiar with the basics of S&R trading but you have obviously taken it to another level.I am curious as to why you don't post actual trades as they would make understanding your method much easier.
Have you ever considered formalizing your method and perhaps putting out an e-book summary of the basics?
The problem with this thread is that it moves so quickly it is easy to get a bit lost if you're trying to follow a particular persons approach to this trading method.
One more question...you use the term "signature" frequently,what do you actually mean by this? Thanks in advance.
  • #112,730
  • Edited 3:13am Jun 6, 2012 2:21am | Edited 3:13am
Quoting jarroo
I like the way you think, Pinbar . .Lower TF conflences that gather at our Higher TF level can only add strength to it . .


Also, the the Daily HCR levels may play a part with the Weekly .7612 level. . .meaning Price may spike up and hit the Daily HCR levels yet still close below the .7612.

I do not like this H4 close above both the Monthly LCS and the TL.
Was thinking of letting the London guys finish their morning tea to see of the H1 bar would close below the LCS but, I think the 4 H4 bars in a row is a sign of this breaking above this area. Got out for a small profit + the spread.
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  • #112,731
  • Jun 6, 2012 2:29am Jun 6, 2012 2:29am
Quoting jarroo
So how did you do or are doing on this live trade managent example?

Should I go for the long term runner or take profits when they are given to me at target levels?


This is why what Mike teaches is so valuable . . . and why I try to attend everyone of his webinars.

What Mike shows is that great bigger picture or story of market sturture as a whole . .the overall market dynamic that taking place in the market. . .or developing in the market.

So if we can enter into that market dynamic when it . . .shifts . .or changes . .we...
Let me know please, i'm long this pair
  • #112,732
  • Jun 6, 2012 2:49am Jun 6, 2012 2:49am
Quoting jarroo
This is James16's "This is Critical" and see how it relates to that EurJpy PB. . .mainly #4.
Thanks Jim,

I have been facing some difficulties with this one. I am now sitting back and relaxing (you and J16 are so damn right, it is so good to move you SL to BE!), taking some time to figure out my mistakes. And I've done a few... Part of the learning process, I guess...

So, from what I could see, the W LCS is by 97.1, while the D1 LCS is by 96.8.
To be validated, both the W LCS and the PB should be broken. But PB high is at 97.5, ie higher than the W LCS...
Meaning that, if the daily PB gets broken, then the W LCS shall be too...
On the other hand, there has been a nice retrace after the PB break, to 97.1, easily spotted on the H4 (I had some loss here...).

I was rather expecting a price movement at the previous D1 bars low/high, 97.7 - 98...

So, my question is: did the W LCS act as a "magnet" that, for a reason or another, pulled the price down? or is there something else I am missing in this #4 of James' This is critical?


Thanks a lot for your help and patience...

(PS: please do not take in any sort of consideration the position of the TP. I am letting this running as I want to see where price is heading to, and learn to manage this last position "on the fly")
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Slow & steady
  • #112,733
  • Jun 6, 2012 3:07am Jun 6, 2012 3:07am
Quoting Pinbar
I do not like this H4 close above both the Monthly LCS and the TL.
Was thinking of letting the London guys finish their morning tea to see of the H1 bar would close below the LCS but, I think the 4 H4 bars in a row is a sign of this breaking above this area. Got out for a small profit + the spread.

Let's see how the daily closes.
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  • #112,734
  • Jun 6, 2012 3:17am Jun 6, 2012 3:17am
Quoting bullzeye
EUR/JPY

looks like a perfect pinbar setup to me

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EUR/JPY

reached the FTA and my target

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  • #112,735
  • Jun 6, 2012 3:20am Jun 6, 2012 3:20am
Quoting patapouer
Thanks Jim,

I have been facing some difficulties with this one. I am now sitting back and relaxing (you and J16 are so damn right, it is so good to move you SL to BE!), taking some time to figure out my mistakes. And I've done a few... Part of the learning process, I guess...

So, from what I could see, the W LCS is by 97.1, while the D1 LCS is by 96.8.
To be validated, both the W LCS and the PB should be broken. But PB high is at 97.5, ie higher than the W LCS...
Meaning that, if the daily PB gets broken, then the W LCS shall be too...
On the...

May want to be aware of this MLCS and the gap open.
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  • #112,736
  • Jun 6, 2012 3:22am Jun 6, 2012 3:22am
Quoting bullzeye
USD/CAD

ready to drop, SL to BE

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USD/CAD

little lucky on this one, the trade is still going approaching the FTA zone

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  • #112,737
  • Jun 6, 2012 3:40am Jun 6, 2012 3:40am
I would say its quite risky looking to selll ***/usd or ***/jpy pairs atm. A lot of them are confirming bottoming patterns already. It looks like we might get more usd & jpy selling but it pays to keep an eye on equities.
  • #112,738
  • Jun 6, 2012 3:45am Jun 6, 2012 3:45am
Quoting Pinbar
May want to be aware of this MLCS and the gap open.
Thanks Pinbar,

this is another question I have. I've read quite a lot on gaps, but rather on how to take profit from gaps that will be filled.

Can you please explain a bit further your idea behind this monthly gap?

thanks a lot!!
Slow & steady
  • #112,739
  • Jun 6, 2012 3:51am Jun 6, 2012 3:51am
This one was to the Pip!
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  • #112,740
  • Jun 6, 2012 4:04am Jun 6, 2012 4:04am
Quoting patapouer
Thanks Pinbar,

this is another question I have. I've read quite a lot on gaps, but rather on how to take profit from gaps that will be filled.

Can you please explain a bit further your idea behind this monthly gap?

thanks a lot!!

Playing Gaps is not what I meant.
Gaps get filled at some stage or other but, I would not use a gap as a signal to enter a trade. If you see what I mean.
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