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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

  • #112,881
  • Jun 10, 2012 1:17am Jun 10, 2012 1:17am
Quoting fascist
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?
Yes . .you are getting it right fasc . . . .great chart and question. .

I tend to go with the most recent levels or current levels that Price is dealing with . . . but I won't ignore the others past levels, especially when they are in Space. Space tend to revitalize the strength of the levels.

I would have like to have seen a stronger Close Above the LCS levels .(77.44-77.28) . .We also may see some bullish action at the HCR level (76.81) because Price Closed Above it ..
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Indicators show the past. Price Action "Indicates" the future.
  • #112,882
  • Jun 10, 2012 1:24am Jun 10, 2012 1:24am
Quoting fascist
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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Yes . .Nice one, fasc . .

Which one do we watch? . .We watch both . .and wait until Price Breaks Through and Close Above or Below .. each of them . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,883
  • Jun 10, 2012 1:28am Jun 10, 2012 1:28am
Quoting Pinbar
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.
I agree Steve . . .Classic James16, "This is Critical" . .and the PB is small and at a swing High . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,884
  • Jun 10, 2012 1:32am Jun 10, 2012 1:32am
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...
You've probably gone for good but I notice you are from NZ so I'll chime in with a bit of advice.There is no easy way to success in this business, I certainly know that,but you need to give your self some more rope before you go and hang yourself.I'm a member of the PF and have just spent an afternoon studying Jarroo's new thread on his method,I have to say it is brilliant so do your self a favour and join up and all will be explained.Cheers.
  • #112,885
  • Edited 1:51am Jun 10, 2012 1:41am | Edited 1:51am
Quoting edge540
You've probably gone for good but I notice you are from NZ so I'll chime in with a bit of advice.There is no easy way to success in this business, I certainly know that,but you need to give your self some more rope before you go and hang yourself.I'm a member of the PF and have just spent an afternoon studying Jarroo's new thread on his method,I have to say it is brilliant so do your self a favour and join up and all will be explained.Cheers.

Thanks edge.

Did you see my new video series called "The Basics"? . .probably not, I just posted the new Thread tonight /today . .check it out . .let me know what you think . .



Edit: maybe you did . .you did mention "Jarroo's new thread" . .ok . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,886
  • Jun 10, 2012 2:17am Jun 10, 2012 2:17am
a nice large pinbar off the 365 EMA and weekly LCS and HCR levels.

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looks kinda sweet..
  • #112,887
  • Jun 10, 2012 2:46am Jun 10, 2012 2:46am
Quoting fascist
a nice large pinbar off the 365 EMA and weekly LCS and HCR levels.

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looks kinda sweet..
That looks like a good trade, i will be watching that one market open, it bounced nicely off the 1550 support.. What do others think on this trade..?
  • #112,888
  • Edited 4:05am Jun 10, 2012 3:55am | Edited 4:05am
Quoting jarroo
Did you see the .7526 level HCR . .5.25 did . .very valid level to take ..
Nope, Jim, I didnt notice that. Now I see. This was a double bottom pattern HCR level if I can call it like this. Better story I think, keeping in mind that orders at 0.7650 were already triggered on the day of PBT&CA. Still I believe 0.7650 could also work. Anyways as 4h closed below 0.7650, I finished my trade in BE (I put my TP at my entry point), and my congrats to 5.25. He has nice profit now, that was super

Can u specify plz. You get out of market if bar closes against your signature in loss emidiately, or try to finish the trade at BE?
If not up, then down, otherwise sideways :-)
  • #112,889
  • Jun 10, 2012 4:07am Jun 10, 2012 4:07am
I think very wise decision ,maybe thats not a pin bar at all friday


Quoting Pinbar
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.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,890
  • Jun 10, 2012 4:09am Jun 10, 2012 4:09am
bearish continuation

Quoting jarroo
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.....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,891
  • Jun 10, 2012 4:21am Jun 10, 2012 4:21am
Quoting jarroo
Thanks edge.

Did you see my new video series called "The Basics"? . .probably not, I just posted the new Thread tonight /today . .check it out . .let me know what you think . .



Edit: maybe you did . .you did mention "Jarroo's new thread" . .ok . .

Jim
I meant to refer to your new thread "The Basics"...I've watched a few of the new videos and you really have done a good job on summarising your methodology.I can certainly see your stuff as another string to the bow of PA trading and look forward to implementing your strategies.Cheers.
  • #112,892
  • Jun 10, 2012 4:48am Jun 10, 2012 4:48am
below or above 1.262,it will give the direction
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A chart helps those who can read it.
  • #112,893
  • Jun 10, 2012 4:49am Jun 10, 2012 4:49am
very nice G

Quoting geniusztc
below or above 1.262,it will give the direction
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,894
  • Jun 10, 2012 7:41am Jun 10, 2012 7:41am
Quoting jarroo
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.


. .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 ....

Hello ,

Does this mean that when we take a trade on daily , we have to go down to H4 to manage it ? Always ? If so , then how do we catch daily long runners sir ??? Because smaller time frames gives their own levels which are not all present on daily , and when managed on them , we will be out way before when managed on daily ....
Human
  • #112,895
  • Jun 10, 2012 7:43am Jun 10, 2012 7:43am
Does anybody know any EA's that automatically moves our stops to breakeven when a certain level is reached ???
Human
  • #112,896
  • Edited 8:21am Jun 10, 2012 8:10am | Edited 8:21am
Quoting jarroo

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.



Jim
I am sorry But I did not understand what you tried to explain to me about False breakouts .... Can you please look at the example below and tell what you would have done when faced by these situations , because these are the situations where no targets are hit ??? If its ok ...
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Human
  • #112,897
  • Jun 10, 2012 9:44am Jun 10, 2012 9:44am
Bones,

What is ur view on silver w1tf

Thx

Sonic
  • #112,898
  • Jun 10, 2012 9:58am Jun 10, 2012 9:58am
its bearish Sonic,whats your view ??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,899
  • Jun 10, 2012 10:28am Jun 10, 2012 10:28am
Quoting Chanya
Hello ,

Does this mean that when we take a trade on daily , we have to go down to H4 to manage it ? Always ? If so , then how do we catch daily long runners sir ??? Because smaller time frames gives their own levels which are not all present on daily , and when managed on them , we will be out way before when managed on daily ....

You use the same Daily levels on the Lower TF . .Daily levels, Daily targets,, Daily Stop Loss. . You use the lower TF closes to manage the trade or you can still stick to the Daily Closes to manage as well . .Just be sure to react when your targets are hit.

You could have used the 15 min TF on the GU example . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,900
  • Jun 10, 2012 10:33am Jun 10, 2012 10:33am
hey,Bones. it is bearish ,AND, it is the support area. i choose to long it if there is no new lower .

Quoting Bones
its bearish Sonic,whats your view ??
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