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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

  • #112,861
  • Jun 8, 2012 5:12pm Jun 8, 2012 5:12pm
Here's one I did take. Shame it's friday. Closed this one early, I hate holding trades over the weekend.

Consolidation, clear breakout, retest and entry on the daily. Classic Jarroo. 10pip draw down. 4h chart gave a nice upper trend line for added confluence.

Happy weekend all
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  • #112,862
  • Jun 8, 2012 8:31pm Jun 8, 2012 8:31pm
nice pinbar off the weekly LCS:

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Seem we have a PBT & CA on the weekly above the 77.23 level.

Daily targets outlined.
  • #112,863
  • Jun 8, 2012 8:42pm Jun 8, 2012 8:42pm
Regarding HCR and LCS levels, if price is below those current levels, we still do take both of them into account right?

Say if price is below the current LCS level, the LCS is still a resistance point even though we mark it out as a support level.

Vice versa for HCR when price is above.

Having said that, now that I look at cadjpy weekly, price seemed to break above one but close below another LCS and is in between!

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Am I getting this right?
  • #112,864
  • Jun 8, 2012 8:56pm Jun 8, 2012 8:56pm
We have a bounce off weekly LCS at 1563.

However, there seems to have an HCR at 1624 and then an LCS nearby at 1640. So which one should we watch?

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  • #112,865
  • Jun 8, 2012 9:54pm Jun 8, 2012 9:54pm
Two week PB on UJ.

Can it break through the BRN though?
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  • #112,866
  • Jun 9, 2012 5:19am Jun 9, 2012 5:19am
One of the reasons that I hate the weekends

1 ) This thread goes dead .
Human
  • #112,867
  • Jun 9, 2012 3:16pm Jun 9, 2012 3:16pm
Quoting Chanya
One of the reasons that I hate the weekends

1 ) This thread goes dead .
Hey Chanya
Do not worry, everything will soon return. Smile!
  • #112,868
  • Jun 9, 2012 5:03pm Jun 9, 2012 5:03pm
Hi all,
On the daily chart of AUDUSD formed pinbar. As I understand it, there is a high probability of further short-term uptrend. On Monday, it makes sense to open a long position with target about 1.0150. What do you think?
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  • #112,869
  • Jun 9, 2012 7:37pm Jun 9, 2012 7:37pm
Quoting Elena MS
Hi all,
On the daily chart of AUDUSD formed pinbar. As I understand it, there is a high probability of further short-term uptrend. On Monday, it makes sense to open a long position with target about 1.0150. What do you think?

Do you really want to trade that small PB into Parity?
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  • #112,870
  • Jun 9, 2012 7:53pm Jun 9, 2012 7:53pm
Quoting Pinbar
Do you really want to trade that small PB into Parity?
Do you think this is not real? In my opinion, in this situation, the profit of 200-250 points is possible. It seems to me that the size of pinbara is not very important.
  • #112,871
  • Jun 9, 2012 8:54pm Jun 9, 2012 8:54pm
Quoting 5.25
Here's one I did take. Shame it's friday. Closed this one early, I hate holding trades over the weekend.

Consolidation, clear breakout, retest and entry on the daily. Classic Jarroo. 10pip draw down. 4h chart gave a nice upper trend line for added confluence.

Happy weekend all
hi,,, 5.25
nice trade,,,i like it,,,
regards
  • #112,872
  • Edited Jun 10, 2012 2:50am Jun 9, 2012 10:38pm | Edited Jun 10, 2012 2:50am
Quoting Elena MS
Hi all,
On the daily chart of AUDUSD formed pinbar. As I understand it, there is a high probability of further short-term uptrend. On Monday, it makes sense to open a long position with target about 1.0150. What do you think?
Hey Elena,
I went long exactly where your saying as well around just above 0.99.. Currently in profit around 15 to 20 pips, i will decide on Monday whether to hold or close with a small profit depending on if it does not turn against me by then.. I use oanda so i can close anytime even during weekend times..

However there is a lot of bullish action that can be seen on h4 as well..

If bullish starting monday i will hold to at 1.00 par area then adjust stop loss to a bit over breakeven then see the reaction at that resistance again.. If it bounces i will close, if not i will hold to next resistance or longer.. Also if we look at the daily of the us cad you will see the opposite correlation ( down signal bearish pinbar close ) to the aud which increases probabilities to the upside for now as well..

http://imageshack.us/photo/my-images...rrelation.jpg/http://imageshack.us/photo/my-images...rrelation.jpg/http://desmond.imageshack.us/Himg4/s...pg&res=landing

That is my thoughts..
  • #112,873
  • Jun 9, 2012 10:57pm Jun 9, 2012 10:57pm
Quoting Elena MS
Do you think this is not real? In my opinion, in this situation, the profit of 200-250 points is possible. It seems to me that the size of pinbara is not very important.

I think it is 1: a bullish bar not at a SL, 2: going into parity and the ppz & 3, there is an opposing bearish PB that came off parity.
It may work out, they sometimes do but, I would not be willing to take the risk on it.
  • #112,874
  • Jun 9, 2012 11:27pm Jun 9, 2012 11:27pm
Quoting Magestic
Hey Jaroo. I have a question for u, but it is so difficulty to describe what I mean, but I'll try my best. Theme: BAM! and J16.
In post #112780 u described NZD/USD chart

I was watching this so careful: was a beautiful setup (perfect 2 bottom), so was obvious if it breaks it goes. But I coldnt find an entry point. U say that it has a perfect hourly signature. Oh ye it was marvelous (2nd chart), but how do we chose our signature? What I did - I saw a dayly close above (make sure it holds), and pull a limit order hoping that it will retrace to it...
"What was my mistake in thinking process? Or it was ok, just not one of the trades that retrace?" . . Your thinking process was correct in waiting for the Daily Close Above the .7650 and then waiting for Price to retarace to that level (.7650).. .sometimes they don't reatace right away . .

I jumped the gun on waiting for the Daily Close but still a Hourly Close below this level.7650 would have got me out at that time. .the same as when Price did come down on Friday and Closed below that level.

Did you see the .7526 level HCR . .5.25 did . .very valid level to take ..

Quoting 5.25
Here's one I did take. Shame it's friday. Closed this one early, I hate holding trades over the weekend.
Quoting 5.25

Consolidation, clear breakout, retest and entry on the daily. Classic Jarroo. 10pip draw down. 4h chart gave a nice upper trend line for added confluence.

Happy weekend all


"last one (last chart). Thats a BOMB." .. You'll get use to picking the Highs and Lows of the Day . .the next step is managing them correctly with the targets . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,875
  • Jun 10, 2012 12:27am Jun 10, 2012 12:27am
Quoting Chanya
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 ,...

Hey Chanya . .the amount of trades I take varies alot due to the Setup that's presented and . Life itself gets in the way sometimes . .meaning I miss some great ones sometimes . .

We can weed out many of the levels by looking for only the strongest ones . .Higher TF levels . .Confluences that align with them . etc.

Price Breaking through and Closing Above and Below will reveal alot of false breakout . .meaning once we have that Close Above or Below our levels it will confirm alot of transitions.


Also I don't use Lower TF HCR/LCS levels . .I use Higher TF HCR/LCS levels on the Lower TFs. .for entries, S/L indication . .etc ..

also I use FxPro feed for my charting because they use the New York Close 5"00 PM (EST).


Charts

. . your EurUsd 4 Hour chart looks good technically but Price was moving or reacting to the Higher TF levels.

. .Your GbpUsd worked out just fine . .very successfull trade . .targets hit . .only you can't see it on the Daily TF you have to go to the Lower TFs to see it. What happen when the Daily did Close below this level . . we went downtown.

Take a different look now at your GbpChf .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #112,876
  • Jun 10, 2012 12:34am Jun 10, 2012 12:34am
Quoting haircut
Hey Jim
here are the charts for the gold trade I mentioned to you
The 1638 LCS level turned to resistence the 150 EMA level was just above the level and was a good place to hide my stop.

On the hourly chart you can see none of the hourly bars closed above the level keeping me in the touch trade which has now gone nicely.

Cheers Jim you are the man

Classic HC . . . .You got to love and trust that Hourly Signature . . . .you the man, HC . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,877
  • Jun 10, 2012 12:45am Jun 10, 2012 12:45am
Quoting Pinbar
Yes, we got a weak daily close below.
Now we have a mini flag, let's see if it breaks up or down.

EDIT: Looking at these daily minor SPs, I suspect up.
I see your point Steve . .That 28.50 was part of those HCR levels that were present and the Daily did Close above it, there was a potential long trade there. . .

. .but I want to see that Daily Close above all those HCR levels . .a stronger confirmation . .like this "B" candle I drew on my chart. (chart 1)

Chart 2 . .shows another example of this on Swissy not too long ago . .

I was looking to take a Long by the Daily Close above at the .9234 . .but when the next Daily Closed below the HCR level at the .9234, I went short ..at the same level..
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Indicators show the past. Price Action "Indicates" the future.
  • #112,878
  • Jun 10, 2012 12:59am Jun 10, 2012 12:59am
Quoting Greenhaze
Bernanke speach was the key to this silver setup yesterday.

Chart:

Wow . .cool post . .GH . . . .So how long will this last ? . .to your 26.20 level? . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,879
  • Jun 10, 2012 1:00am Jun 10, 2012 1:00am
Quoting feri z kosic
Thanks Jim very much
Sure thing, feri z . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,880
  • Jun 10, 2012 1:04am Jun 10, 2012 1:04am
Quoting Chanya
A couple of other question plz ......... Sorry If I maybe asking too much ...

1 ) Does our method performs exactly the same way on H4 chart as it greatly performs on daily ??? I know lower time frames are more prone to whipsaws but still ?

2 ) How do we manage our trade when we go way into space and there are no levels to account for ???

3 ) Do we keep round numbers in prospectus when managing our trades and give them as much importance as we give on basic J16 methods ???

Regards

Quoting Chanya
Mike , Like some of your videos , and some of J16 videos , Dialist and Fijitraders videos , Is it possible that we can have access to a couple of Jarroo's videos in the guest material section ???
I'll talk to James16 and Mike about posting some of my videos/webinar excerpts . .
Indicators show the past. Price Action "Indicates" the future.
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