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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

  • #112,961
  • Jun 11, 2012 11:30am Jun 11, 2012 11:30am
Quoting diogo
Hello all,

I am still on my task of reading the beginning of thread, so I haven't been very interactive, but i've following the latest postings not deeply.
I have one question though, sidetracked by this comments.
I've seen Pinbar and now Chanya claiming following jarroo's style - being Jarrooers
Well, what does it mean ? Sorry if this is an already asked question - point me out anything if you please.

Diogo
Rereading my question, it really seemed dumb - english is not my native language. My point is what are the big fundamental differences between jarro's and James16 - entries, managing trade, whatever..

Regards
Diogo
  • #112,962
  • Jun 11, 2012 11:39am Jun 11, 2012 11:39am
Hi Sonic I do see your point but how can it be triple bottom if its at the top ?

Prior Trend: With any reversal pattern, there should be an existing trend to reverse. In the case of the Triple Bottom Reversal, a clear downtrend should precede the formation.

Quoting sonicdeejay
Dear Bones..

I am no longer bearish and waiting to be bullish...

a. We have a big vol near 2nd week of Sept 2011 ..so 153x lvl will be very hard to break..

b. We are having triple bottom..which is very bullish..and possible big break out could follow..

c. The only thing that holding me back is W1 candle..I am waiting for a weekly bullish candle to enter..

To summarize, I am bullish as long as 153x lvl holds..

Sonic
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,963
  • Jun 11, 2012 12:23pm Jun 11, 2012 12:23pm
Quoting diogo
Rereading my question, it really seemed dumb - english is not my native language. My point is what are the big fundamental differences between jarro's and James16 - entries, managing trade, whatever..

Regards
Diogo
Hey Diogo

Nope it's all based on support and resistance. You will see many of us do things slightly different but the concepts and business approach is the same.

Welcome to the thread and your English is just fine don't worry

Mike
  • #112,964
  • Jun 11, 2012 12:48pm Jun 11, 2012 12:48pm
Quoting mbqb11
Hey Diogo

Nope it's all based on support and resistance. You will see many of us do things slightly different but the concepts and business approach is the same.

Welcome to the thread and your English is just fine don't worry

Mike
Thanks Mike
  • #112,965
  • Edited 1:32pm Jun 11, 2012 12:50pm | Edited 1:32pm
Quoting patapouer
Hi Buddy,

They do!!

I've spent the whole day drawing RN, TL, PPZ, Fibs... and boxes of possible future confluence...
instead of spending my whole day the way I did the last few weeks, looking - and missing - price action signals.

thanks for bringing me back on the right tracks: looking for the good location, not for the good price action
Hi Patapouer,

Once you accept that good PA is nothing without a good location the sooner you will stop trading PA bars simply because they are PA bars and the greater chance you will have of succeeding.

A good location will have confluence and more often than not, space, which will give the trade room to move.

Plot the locations then be patient and wait for price to reach these areas then tell you where it is going to go in the form of PA.

Scrap the mentality that you need to trade often to make money. Stick to Daily TF's, look for the good locations and be patient. If you can do this then success in this business will not be too far away.

Bud_Fox
  • #112,966
  • Jun 11, 2012 12:50pm Jun 11, 2012 12:50pm
Quoting mbqb11
Hey OP

It is broker dependent as some brokers have off market trading where you will get stopped out at your stop loss(maybe slippage again depending). Most will close you out where the market gaps. Because your stop loss order is just a market order. A market order basically means get me in or out at ANY price. So you can always have the chance to incur more of a loss than your stop loss is placed at. Back in the day a lot of brokers used to say things like they will guarantee your stops and stuff but that faded quick

Best
Mike
Thanks Mike
  • #112,967
  • Jun 11, 2012 1:14pm Jun 11, 2012 1:14pm
now sonic something bearish ,will only confirm to me


Quoting Bones
Hi Sonic I do see your point but how can it be triple bottom if its at the top ?

Prior Trend: With any reversal pattern, there should be an existing trend to reverse. In the case of the Triple Bottom Reversal, a clear downtrend should precede the formation.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,968
  • Jun 11, 2012 1:29pm Jun 11, 2012 1:29pm
Quoting Bones
now sonic something bearish ,will only confirm to me
Hi Bones,

I honestly cant see it going down while next round of money printing still is highly possible. Weekly BUOB + D1 PB + price sitting on support are keeping me out of shorting that thing but i'm sure you've got a good plan there

good luck!
gh
  • #112,969
  • Jun 11, 2012 1:38pm Jun 11, 2012 1:38pm
lol ,I do see you point ,I'm not budging for min not while $ rallies
lets look at next H4
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,970
  • Jun 11, 2012 1:41pm Jun 11, 2012 1:41pm
Good Afternoon All,
The "sell in May and go away" saying has once again proved profitable for those who were waiting for it. Still waiting to see if the huge Gold Monthly BEOB from last year plays out or not.

Took a trade last week on EURNZD that I wanted to share. Decent sized BEOB closing below a BRN. Personally reminded me of some of the BEOB's on the USDCHF last year.

Respect,
M.
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Price is beautiful. A repetitive method is a competitive method.
  • #112,971
  • Jun 11, 2012 1:46pm Jun 11, 2012 1:46pm
also the weekly BUOB ,lot of it is nose not body on both bars ,

Quoting Greenhaze
Hi Bones,

I honestly cant see it going down while next round of money printing still is highly possible. Weekly BUOB + D1 PB + price sitting on support are keeping me out of shorting that thing but i'm sure you've got a good plan there

good luck!
gh
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,972
  • Jun 11, 2012 1:57pm Jun 11, 2012 1:57pm
Hi All,

I have attached another example of a great confluence area to plot on your charts. Be patient and wait until price reaches this area then wait for PA before placing any trade.

CADJPY - Daily TF

PPZ @ 79.50 - 80.50
BRN @ 80.00
365ema
150ema
Descending TL
61.8 Fib Retracement

Major confluence.

Bud_Fox
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  • #112,973
  • Jun 11, 2012 2:18pm Jun 11, 2012 2:18pm
Quoting Bones
also the weekly BUOB ,lot of it is nose not body on both bars ,
Those long wicks are keeping me out but i'll get on board during next test of 1530 for sure ..... Those stops below 1500 must be BIG
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  • #112,974
  • Jun 11, 2012 2:22pm Jun 11, 2012 2:22pm
Quoting Greenhaze
Those long wicks are keeping me out but i'll get on board during next test of 1530 for sure ..... Those stops below 1500 must be BIG
yep I can't wait to see what PA shows us if we move towards the 1500 BRN

That's what I wait for. I am cool with either bullish or bearish, that's why I love those major areas we can just wait

Good stuff


Mike
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  • #112,975
  • Jun 11, 2012 2:32pm Jun 11, 2012 2:32pm
Here's a daily Pinbar which I spotted last week and decided to take on my demo account. I liked the shape and form of it but didn't really like the location.
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Price is beautiful. A repetitive method is a competitive method.
  • #112,976
  • Jun 11, 2012 2:42pm Jun 11, 2012 2:42pm
Quoting Pinbar
To the pip.

Next stop the Daily HCR.

I like this one too Pinbar on demo thanks for your charts you are a great help on top of all I am learning from Jarroo the master!!
  • #112,977
  • Jun 11, 2012 2:45pm Jun 11, 2012 2:45pm
Another question for JARROO , what to do here sir ??? Plus , where should the initial stops be ??
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Human
  • #112,978
  • Jun 11, 2012 2:50pm Jun 11, 2012 2:50pm
Quoting nwo-trader
Here's a daily Pinbar which I spotted last week and decided to take on my demo account. I liked the shape and form of it but didn't really like the location.
Hi Nwo-Trader,

Location is key here. Although the formation of the bar is a Pinbar we want these at major swing highs and swing lows with as much confluence as possible and with a big long protruding nose.

Also the open and close of the bar was trapped in between the 365 & 150 ema, which indicated that price may range sideways as it did.

Bud_Fox
  • #112,979
  • Jun 11, 2012 2:56pm Jun 11, 2012 2:56pm
be carefull ,its not your average bar with that gap up


Quoting Chanya
Another question for JARROO , what to do here sir ??? Plus , where should the initial stops be ??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,980
  • Jun 11, 2012 3:07pm Jun 11, 2012 3:07pm
Quoting Chanya
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 ...


Quoting jarroo
Sure chanya . .Target are defined the same as James16 defines them . .Daily PA, Daily targets are preious bar Highs and Lows. .same with Daily levels , Daily targets .


GbpChf . .this Daily setup caught me on the GbpChf . .then I realised that Price was reacting to the Weekly levels and I adjusted my long postion.
GbpChf sure like those Weekly levels . .this does not surprise us, right Chanya?
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Indicators show the past. Price Action "Indicates" the future.
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