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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

  • #112,781
  • Jun 7, 2012 12:30am Jun 7, 2012 12:30am
Quoting jarroo
We can go over this at Monday's webinar . .

Check out this on the NzdUsd Daily chart.

I know you can see the minor HCR level in green chisel (that's why I didn't label them) . .but look how Price reacted to these albeit minor HCR levels.

. .meaning once the HCR level was established and Price returned to these now established HCR level . . .Price hit them to the pip!! and went down .

can you see it chisel? . .I know its a bit messy . .
I see em. The only problem is to understand which to use first...
  • #112,782
  • Jun 7, 2012 12:32am Jun 7, 2012 12:32am
Quoting jarroo
.PA does Rule . .
yeah indeed
Slow & steady
  • #112,783
  • Jun 7, 2012 12:35am Jun 7, 2012 12:35am
Quoting cold chisel
I see em. The only problem is to understand which to use first...

We can go over it more . .did you see my EurNzd Daily Confirmation video? . .If not I'll send it to you in the PF. .
Indicators show the past. Price Action "Indicates" the future.
  • #112,784
  • Jun 7, 2012 12:37am Jun 7, 2012 12:37am
Quoting patapouer
yeah indeed

Indicators show the past. Price Action "Indicates" the future.
  • #112,785
  • Jun 7, 2012 12:39am Jun 7, 2012 12:39am
Quoting jarroo
We can go over it more . .did you see my EurNzd Daily Confirmation video? . .If not I'll send it to you in the PF. .

I just sent it to you . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,786
  • Jun 7, 2012 12:52am Jun 7, 2012 12:52am
Quoting jarroo
We can go over it more . .did you see my EurNzd Daily Confirmation video? . .If not I'll send it to you in the PF. .
Hey Jim..

sorry could you send me that link to please?

Cheers,
A
  • #112,787
  • Jun 7, 2012 12:56am Jun 7, 2012 12:56am
Quoting Ramjet
Hey Jim..

sorry could you send me that link to please?

Cheers,
A

Done . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,788
  • Jun 7, 2012 12:59am Jun 7, 2012 12:59am
Quoting Greenhaze
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.
Good eye GH . .do you look at the most common ones . .S&P, mini Dow, or are there other ones you look at?

Thanks GH,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,789
  • Jun 7, 2012 1:00am Jun 7, 2012 1:00am
Quoting jarroo
Done . .
lol..you forgot to add the link
  • #112,790
  • Jun 7, 2012 1:01am Jun 7, 2012 1:01am
Quoting Ramjet
lol..you forgot to add the link
check again, my friend
Indicators show the past. Price Action "Indicates" the future.
  • #112,791
  • Jun 7, 2012 1:04am Jun 7, 2012 1:04am
Quoting jarroo
Did you read the following posts after my "diagram" post?

I did a couple of actual trades in real time in the posts that followed. .that wasn't enough?

I am a Senior member in the James16 Group, the Private Forum (PF), where I do webinars, videos, chart analysis, trade setups, etc. . .so I'm not into doing an "e-book".

Search out the James16 Chart Thread or read a bit more and many of your questions will find answers .

Jim
Yes I did read your subsequent posts but certainly haven't seen any trades taken in "real time" rather more of the same i.e lots of colored lines and your own unique jargon HCR,LCS,PBTCB etc.I am not a member of the PF and given your arrogant reply to my reasonable questions I certainly won't be signing up.You may well be a senior member and a phenomenal trader but I don't actually see any evidence of this.
I have worked very hard on this thread having spent several months reading and taking notes before making a post,I find your condescending attitude to a new person's enquiries remarkable.
You are not a good teacher Mr Jarroo and you have invented a new language that only you understand.I won't be coming back here....Newbies watch out this thread is controlled by a few prima donnas.Bye Bye.
  • #112,792
  • Jun 7, 2012 1:07am Jun 7, 2012 1:07am
Quoting sooze
Yes I did read your subsequent posts but certainly haven't seen any trades taken in "real time" rather more of the same i.e lots of colored lines and your own unique jargon HCR,LCS,PBTCB etc.I am not a member of the PF and given your arrogant reply to my reasonable questions I certainly won't be signing up.You may well be a senior member and a phenomenal trader but I don't actually see any evidence of this.
I have worked very hard on this thread having spent several months reading and taking notes before making a post,I find your condescending...
Sorry you feel that way sooze . .good luck to you . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,793
  • Jun 7, 2012 1:08am Jun 7, 2012 1:08am
Quoting jarroo
check again, my friend
Sweeet!!
  • #112,794
  • Jun 7, 2012 1:33am Jun 7, 2012 1:33am
Quoting fascist
Thanks for your reply.

So generally, you set the weekly LCS/HCR levels and play on the daily TF?

the hourlies are for you to exit. For example of a touch trade generally,

1) you find any PBT & CA/B to pick out the direction price is headed;

2) you find daily or weekly LCS and HCR levels where price will retrace early the next day and hopefully they coincide and then put a limit order at where you think the price will bounce and continue towards the direction defined in step (1).

3) your TP levels are staggered and you pick the recent highs/lows...

So generally, you set the weekly LCS/HCR levels and play on the daily TF? Yes ,you can trade them that way . .you can even use weekly LCS/HCR levels on the 4 Hour TF.

the hourlies are for you to exit. For example of a touch trade generally? Yes I use the Hourly TF to gauge how my entry is performing . .meaning if the Hourly starts to close below my long entry I will look to get out of the trade . .if the Hourly can't close below my long entry (what I call Hourly Signatures) I will stay in the trade .

1) you find any PBT & CA/B to pick out the direction price is headed; No, I use PBT&CA/B as a transition confirmation from Support to Resistance and vice versa.

2) you find daily or weekly LCS and HCR levels where price will retrace early the next day and hopefully they coincide and then put a limit order at where you think the price will bounce and continue towards the direction defined in step (1). Yes but I use the previous Daily High and Lows as where price is going . .as targets.

3) your TP levels are staggered and you pick the recent highs/lows or close of the candles and the SL levels the nearest support/resistance after where you set the limit order? Yes and also the Hourly and 4 Hour Signatures as a S/L indication.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,795
  • Jun 7, 2012 2:14am Jun 7, 2012 2:14am
Quoting jarroo
Good eye GH . .do you look at the most common ones . .S&P, mini Dow, or are there other ones you look at?

Thanks GH,

Jim
Hi Jarroo,

I keep an eye on S&P most of the time.
I check all the other major indexes occasionally.

What do you think about this little setup on silver?
I would prefer to see price testing 26.20 before loading up longs but it still looks quite good imo. On the other hand it'll probably follow W1 BUOB on gold.
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  • #112,796
  • Jun 7, 2012 2:31am Jun 7, 2012 2:31am
Quoting Greenhaze
Hi Jarroo,

I keep an eye on S&P most of the time.
I check all the other major indexes occasionally.

What do you think about this little setup on silver?
I would prefer to see price testing 26.20 before loading up longs but it still looks quite good imo. On the other hand it'll probably follow W1 BUOB on gold.


Thanks GH,

I like it (silver),GH . .but you know me . . I think the buyers are waiting at these Highest Close of Resistance levels .. 28.70-28.60 levels.

The 29.90-29.70 levels . . I view as very strong levels . .they are Monthly, Weekly and Daily LCS levels . .all on at the same level . .no surprise price Bamming down from there . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,797
  • Jun 7, 2012 2:38am Jun 7, 2012 2:38am
Quoting Pinbar
Thanks Jim

Got to run to the other side of the city in a few mins so, I will digest this post when I get back.
But, my intimidate thought is, I have been using the monthly and weekly levels and basically looking for a monthly or weekly SP that corresponds to a daily SP. Now, is it possible that I can do this the other way around?
I mean, look at the large daily SPs and see if they correspond to a weekly or monthly level?

Thanks again Jim, you don't realize how much you are keeping me on the tracks.

Steve
Hey Steve. .here's a great example of a Multi TF level(s)

The 29.90.- 29.70 levels on Silver . .a Monthly, Weekly and Daily LCS . .the same level on all those time frames
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Indicators show the past. Price Action "Indicates" the future.
  • #112,798
  • Jun 7, 2012 2:41am Jun 7, 2012 2:41am
Hello to all, my name is Rico and I am a tradeholic :-)
Tried a few systems, took a course and read about 50 books. Actually I am a struggling trader and I am fairly new to PA but so far I like it a lot, it makes the most sense to me and I can already see my trading improving. Glad I found you guys and PA.

Ok, here is my first question, What do you think of Gold on the Daily. The Pinbar and rejected S/R look great to me but I am not sure if there is enough momentum to justify a short position?

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  • #112,799
  • Jun 7, 2012 2:50am Jun 7, 2012 2:50am
Quoting jarroo
Hey Steve. .here's a great example of a Multi TF level(s)

The 29.90.- 29.70 levels on Silver . .a Monthly, Weekly and Daily LCS . .the same level on all those time frames
hey jim, thanks for your reply earlier.

may i ask what is the mt4 platform you're using?
  • #112,800
  • Jun 7, 2012 2:53am Jun 7, 2012 2:53am
Quoting fascist
hey jim, thanks for your reply earlier.

may i ask what is the mt4 platform you're using?
Hey fasc . . I use FxPro . .for their 5:00 PM (EST) New York Close.
Indicators show the past. Price Action "Indicates" the future.
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