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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

  • #113,021
  • Jun 11, 2012 6:04pm Jun 11, 2012 6:04pm
Quoting Chanya
Please also solve this mystery , If you have time .... This chart has been real pain ...
No monthly levels , no weekly levels , nothing intervened .... Plus , where should initial stops have been ???
Looks like a small loss on this . .lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,022
  • Jun 11, 2012 6:14pm Jun 11, 2012 6:14pm
Quoting jarroo
Looks like a small loss on this . .lol . .

That's awesome ...
You have taught me the most legit thing ever ...
Eh , you know what , instead of saying thank you after every post and messing up the space for others , I am going to update the text under my username , Plz see that after every time you reply to me .....
Human
  • #113,023
  • Jun 11, 2012 6:20pm Jun 11, 2012 6:20pm
Quoting jarroo
nice . .not a bad place to put your S/L above . .where's the next Daily HCR level and/or target? . .

I think it could make it to the 0.76500 area.

Yes, just locked in more profit.
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  • #113,024
  • Jun 11, 2012 6:22pm Jun 11, 2012 6:22pm
Quoting Pinbar
I think it could make it to the 0.76500 area.

Yes, just locked in more profit.

Weekly level . .Weekly targets . . nice ..
Indicators show the past. Price Action "Indicates" the future.
  • #113,025
  • Jun 11, 2012 6:28pm Jun 11, 2012 6:28pm
Quoting Chanya
That's awesome ...
You have taught me the most legit thing ever ...
Eh , you know what , instead of saying thank you after every post and messing up the space for others , I am going to update the text under my username , Plz see that after every time you reply to me .....

lol . . no problem Chanya ..I'm sure you are asking the same questions that others want to ask . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,026
  • Jun 11, 2012 7:35pm Jun 11, 2012 7:35pm
Quoting jarroo
Great Chart and Level, Steve . .I would keep an eye on that Daily LCS level too . .

Jim

I hear you on that daily LCS.
Perhaps the daily HCR in this consolidation may make a good SL, depending on any PA we get.

Thanks Jim
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  • #113,027
  • Jun 11, 2012 9:12pm Jun 11, 2012 9:12pm
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome.

http://www.hogshed.com/charts/Image6.jpg

Do I have to upload an image to somewhere else before I can embed it, as I did this time for this chart?
Thanks,
MTC
  • #113,028
  • Jun 11, 2012 10:10pm Jun 11, 2012 10:10pm
Quoting mtc235
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome.

Do I have to upload an image to somewhere else before I can embed it, as I did this time for this chart?
Thanks,
MTC
Hi MCT, this is my view on this pair, I watch the 4H.
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  • #113,029
  • Jun 11, 2012 10:20pm Jun 11, 2012 10:20pm
What do you guys think of this trade I was thinking entering long at 1.2634 because of the pinbar setup that I see on the weekly chart. My first chart so want some feedback.
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  • #113,030
  • Jun 11, 2012 10:34pm Jun 11, 2012 10:34pm
Quoting jarroo
let's watch this one . . .a Hourly bar that closes below the .9850 and we are out. . .a bit messy . .alot of traffic, . .targets are close by . .

should be fun to watch . .
hi sir...

nice AU.. hit target perfectly...

I also took entry at the first HCR 0.9915, got out for loss 26pips...

Re-entry at the second deepest one, now it already in profit.
  • #113,031
  • Jun 11, 2012 10:36pm Jun 11, 2012 10:36pm
Quoting mtc235
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome.

http://www.hogshed.com/charts/Image6.jpg

Do I have to upload an image to somewhere else before I can embed it, as I did this time for this chart?
Thanks,
MTC

You may want to be cautious of this area on the weekly.
Also, Jarroo wants to see a daily or weekly close below a level, then a pullback. This gets you into a trade at a premium price and keeps the SL relatively low.

You can upload images directly to the post you are making by choosing this button when you post.

Hope this helps.
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  • #113,032
  • Jun 11, 2012 11:01pm Jun 11, 2012 11:01pm
Hi guys, my first post on FF. I got to thank everyone in here for the information in this thread. Been using indicators previously and wasn't getting anywhere. A friend suggested PA to me and it improved my gains. Now to only refine my strategies and entry points as I find this as my weakness. I hope to continue learn from this thread man. Much appreciated.

Forgive my ignorance, may I ask what HCR & LCS stand for?

Cheers!
Kie
  • #113,033
  • Jun 11, 2012 11:30pm Jun 11, 2012 11:30pm
Quoting masterkie
Hi guys, my first post on FF. I got to thank everyone in here for the information in this thread. Been using indicators previously and wasn't getting anywhere. A friend suggested PA to me and it improved my gains. Now to only refine my strategies and entry points as I find this as my weakness. I hope to continue learn from this thread man. Much appreciated.

Forgive my ignorance, may I ask what HCR & LCS stand for?

Cheers!
Kie
Click on my signature and go to the terminology link.
HCR & LCS stand for Highest Close Of Resistance & Lowest Close Of Support, as in the screenshot below.
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  • #113,034
  • Jun 11, 2012 11:34pm Jun 11, 2012 11:34pm
As I have already taken profit out of this trade twice, I am giving it enough room to see if it will break down again.

Let's see if it stops me out or goes on its way again.
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  • #113,035
  • Jun 12, 2012 12:30am Jun 12, 2012 12:30am
Quoting masterkie
Hi guys, my first post on FF. I got to thank everyone in here for the information in this thread. Been using indicators previously and wasn't getting anywhere. A friend suggested PA to me and it improved my gains. Now to only refine my strategies and entry points as I find this as my weakness. I hope to continue learn from this thread man. Much appreciated.

Forgive my ignorance, may I ask what HCR & LCS stand for?

Cheers!
Kie
Welcome Kie!

HCR = Highest Close of resistance

LCS = Lowest close of support

Welcome to the thread and don't be afraid to ask more questions

Mike
  • #113,036
  • Jun 12, 2012 12:57am Jun 12, 2012 12:57am
Quoting Pinbar
Click on my signature and go to the terminology link.
HCR & LCS stand for Highest Close Of Resistance & Lowest Close Of Support, as in the screenshot below.
Many thanks Pin, that helped a lot man. Very much appreciated. Love it when people share knowledge, they deserve the best in life Respect.
  • #113,037
  • Jun 12, 2012 1:00am Jun 12, 2012 1:00am
Quoting mbqb11
Welcome Kie!

HCR = Highest Close of resistance

LCS = Lowest close of support

Welcome to the thread and don't be afraid to ask more questions

Mike
Thank you Mike! Will do Previously I have been trading on futures and stocks, thought of expanding my horizon and coming in to forex. And PA really did work for me man. Will study as much as I can from you guys. Keep up the great work!

Cheers,
Kie
  • #113,038
  • Jun 12, 2012 1:11am Jun 12, 2012 1:11am
Quoting Pinbar
You may want to be cautious of this area on the weekly.
Also, Jarroo wants to see a daily or weekly close below a level, then a pullback. This gets you into a trade at a premium price and keeps the SL relatively low.

Hope this helps.
Pinbar, On my chart the close is below both the Weekly and Daily LCR or HCS lines, but maybe I didn't draw the lines correctly. Thanks for posting charts showing where the lines show go.

Thanks. It's great to be here learning.
MTC
  • #113,039
  • Jun 12, 2012 1:13am Jun 12, 2012 1:13am
What you guys think about this setup?

My assessment is: Nice strong S/R around the 79.72 (SL beyond that) Bearish inside Bar and bearish entry with the larger trend BUT against the short term trend. Once price gets back down I'll monitor the 79 level. If price has problems there I'll get out with a small profit. If it goes through smoothly I'll aim for 77.96 trailing. I don't expect it to break the 79.72 but of course I might be wrong.

BTW, is it ok to discuss setups in this way?
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  • #113,040
  • Jun 12, 2012 4:23am Jun 12, 2012 4:23am
Quoting mtc235
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome.
MTC
Nice MTC , welcome to the thread.

I executed the very same trade. Consolidation, pull back, retest and entry. Trading into space. I've already locked in some profits. Can't post a chart as yet.

Nice break to the down side huh?

T
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