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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

  • #112,801
  • Jun 7, 2012 3:29am Jun 7, 2012 3:29am
Quoting supremeChaos
good to see u too, Sir Jim.
when i see easy questions, i try to reply.

you haven't changed. looking forward to your 15,000th post.


btw, nice to see long-time members like don perry & oltciter back
Think I've been staring at the charts for too long. For a moment there I thought I saw SupremeChaos.
  • #112,802
  • Jun 7, 2012 4:19am Jun 7, 2012 4:19am
Quoting jarroo
Had another setup on this pair at the 1.0180ish LCS level . .did you add to your position, beebo ?. .
Hey Jim, no. No adding to this one yet. I'm letting it go for a while now. I will look for possible shorts at 1.03 to lock some profit and then maybe look for more long opportunities if it turns where i think it might. depends how it plays out to my ideas. Could broadly follow m lines, could totally befuddle me. Watch and wait now

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There are some more minor rising lines which i use on this black chart. it may come back to them and move around them too in the meantime. Kept it fairly clean for forum sake.

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  • #112,803
  • Jun 7, 2012 5:24am Jun 7, 2012 5:24am
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

Yes and to the pip.

This is sort of the conclusion I was arriving at with these levels.

The more the merrier.

Thanks Jim
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  • #112,804
  • Jun 7, 2012 6:19am Jun 7, 2012 6:19am
actually,100.00 is the resistance area for bullish .
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A chart helps those who can read it.
  • #112,805
  • Jun 7, 2012 6:47am Jun 7, 2012 6:47am
Quoting jarroo
Sorry you feel that way sooze . .good luck to you . .
Well said Mr. J, could be a plant.....
  • #112,806
  • Jun 7, 2012 7:41am Jun 7, 2012 7:41am
This 78.82 area looks like it could be interesting.
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  • #112,807
  • Jun 7, 2012 7:46am Jun 7, 2012 7:46am
Quoting beebolbod
Quasimodo. It's a reversal pattern. You need low, high, lower low, higher high and then higher low. The HL should (but doesn't always need to be) in line with the original low. It's like a H&S really but better. Earlier entry.
Hi Bee,

Thanks for that. I didn't know about this pattern and since you've mentioned it I have been looking all around and found many off them. I'm trying to understand them though and would appreciate it if you can comment on the below charts. Whether I even have the right pattern or not. Thank a bunch..

Best,
-H
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  • #112,808
  • Jun 7, 2012 8:03am Jun 7, 2012 8:03am
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...

OH Oh , Rash judgement Brother ... Super Rash ...

I have to say one thing , I do not agree that He was arrogant , one thing to understand here is that , when a person like " Jarroo " or " mike " who puts in soooo much effort for us , even if they are angry sometimes ( Which they are never ) , I think they have their Right to be .......
Human
  • #112,809
  • Jun 7, 2012 8:13am Jun 7, 2012 8:13am
Quoting Chanya
OH Oh , Rash judgement Brother ... Super Rash ...

I have to say one thing , I do not agree that He was arrogant , one thing to understand here is that , when a person like " Jarroo " or " mike " who puts in soooo much effort for us , even if they are angry sometimes ( Which they are never ) , I think they have their Right to be .......
It's all good C, we don't need to beat it down. Just get back to the charts like J did. Jarroo handled it like the person he is. A class act. If people don't like what's offered here they don't have to hang out. We are cool with that too

Best
Mike
  • #112,810
  • Jun 7, 2012 8:15am Jun 7, 2012 8:15am
A++++++++++


Quoting mbqb11
...A class act......

Best
Mike
  • #112,811
  • Edited Jun 8, 2012 5:06am Jun 7, 2012 8:15am | Edited Jun 8, 2012 5:06am
Hello Jarroo , How are you sir ?

Plz tell me that how many trades on average do you take monthly ? I ask this because when I was only trading pin bars , they were rare , and that would be almost not more then 10 trades per month , at most ....... But now , with PBT&CB , i see around 600 million trade opportunities ... Although being choosy brings our number down to 20 - 30 , but how many trades do you take ???

And another question , How do we avoid a fake break outs ??? It happens alot that PBT&CB or CA and and the very next bar , it comes back to close behind the level again ... What to do in these situations ???

Refer to the Charts below ...

Are these unavoidable loses or is there any way to tackle them ???
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Human
  • #112,812
  • Jun 7, 2012 8:20am Jun 7, 2012 8:20am
Quoting ricosta
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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Hey Rico

Welcome, first step is admission right

This is a good example of a pinbar that gets new traders into trouble most times.

My first recommendation is to zoom your chart out a bit more. It will put the size of the bar into perspective of what's going on previously.

I put some notes on a chart for you let me know if any of it is confusing. We can also just start out as a new trader to PA saying small bar verse a stronger up move and in traffic.(check out my traffic vs space video as well)


Again welcome
Mike
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  • #112,813
  • Jun 7, 2012 8:54am Jun 7, 2012 8:54am
Quoting sooze
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"...
Jarroo may answer this too, but I will reply. There are 2 ways to get more focused info on his method: 1) click on his name to see his profile, then view all posts he has made. This will filter out most of the other stuff so you can focus on his posts. Yes, it will take time but if you're going to be a successful trader, it will take time. 2) sign up for James16 Paid Forum (PF). Yes, it's an investment, but in the long run it really isn't that expensive and it's not forever, at least right now, after a year it's free. This is what I did because I wanted clear information without other unrelated stuff.
  • #112,814
  • Jun 7, 2012 9:00am Jun 7, 2012 9:00am
Quoting mbqb11
Hey Rico

Welcome, first step is admission right

This is a good example of a pinbar that gets new traders into trouble most times.

My first recommendation is to zoom your chart out a bit more. It will put the size of the bar into perspective of what's going on previously.

I put some notes on a chart for you let me know if any of it is confusing. We can also just start out as a new trader to PA saying small bar verse a stronger up move and in traffic.(check out my traffic vs space video as well)


Again welcome
Mike
Thank you very much Mike, that puts the bar into perspective. Thanks for taking the time to explain. I'll certainly check out the video.
  • #112,815
  • Jun 7, 2012 11:10am Jun 7, 2012 11:10am
Hi Jaroo and fellow members,

I am new to forex trading. I have read through the first 100 pages or so of this thread which has given me a great intro to PA trading.

My question is this. Jaroo, I understand how you set HCR and LCS levels. But forex being a 24/7 market, is your theory that certain times of the day are more significant? (ie. 5pm New York time). If that's the case I will need to change my broker.

I am demo'ing at the moment, first month went ok with 12 trades total. If I can introduce your concepts Jaroo, there should be more opportunities to trade.
  • #112,816
  • Jun 7, 2012 11:33am Jun 7, 2012 11:33am
Hi Mike.
What do you think about it, if this close as pin bar?
How I see situation.
1. bar touch BRN 1.000
2. we have some space to go down.
3. but I see powerfull momentum from pregoing bar and pb have not long nose.
plz, comment my minds.
Viktor.
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  • #112,817
  • Jun 7, 2012 12:11pm Jun 7, 2012 12:11pm
Quoting Victor63
Hi Mike.
What do you think about it, if this close as pin bar?
How I see situation.
1. bar touch BRN 1.000
2. we have some space to go down.
3. but I see powerfull momentum from pregoing bar and pb have not long nose.
plz, comment my minds.
Viktor.
Hey Viktor

Yep your last comment about the size is the most important. Not a ton of space but more importantly would be a small bar. It would have to close VERY strong, I don't see that happening though(at least under 9990). Which in that case we would then be trading back in a "box" and putting us in a lot of traffic. This would be an easy pass for me . I will watching how we react around this area for more information

Best
Mike
  • #112,818
  • Jun 7, 2012 12:31pm Jun 7, 2012 12:31pm
Quoting Pinbar
Yes and to the pip.

This is sort of the conclusion I was arriving at with these levels.

The more the merrier.

Thanks Jim

. .and the 29.70 to the pip!! . . picking two Daily Highs of the Day. . .Bam!!

The Daily HCR levels are not holding up so well . .we"ll see where Price closes today to see if they really hold . .doesn't look good for them right now . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,819
  • Jun 7, 2012 12:39pm Jun 7, 2012 12:39pm
Quoting Chanya
OH Oh , Rash judgement Brother ... Super Rash ... ..
Quoting ericjschroed
Jarroo may answer this too, but I will reply. There are 2 ways to get more focused info on his method: 1) click on his name to see his profile, then view all posts he has made. This will filter out most of the other stuff so you can focus on his posts. .

I may have been a little short with Mr. sooze, but he could easily find answers to many of his questions by simply using the "Search this Thread" tool . .with a few keywords.

No big deal. . . moving on . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,820
  • Jun 7, 2012 1:07pm Jun 7, 2012 1:07pm
AUDCAD is looking pretty nice right now.
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