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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

  • #113,581
  • Jun 22, 2012 5:29am Jun 22, 2012 5:29am
Quoting Greenhaze
Keep an eye on this thing. Its best indicator for usd strenght atm.
what's that?
I got the same black background charts. must be an age thing

I got this feeling usdcad is off to at least 1.0650-1.0700 area (multi-year highs). 2-3months probably unless price wants more chop/ranging
  • #113,582
  • Jun 22, 2012 5:40am Jun 22, 2012 5:40am
Quoting ricosta
Ok, I understand now, thank you. However, these targets look awfully close to the entry and a decent s/l (on the other side of the LCS/HCR) will be multiple times the first target. Also I do see at the example that you are trading into areas with very little "space". Am I correct to say that this is more of a scalping method around LCS/HCR levels?
If I may answer on Behalf of JARROO ,

the example shows trade being take into traffic but that's just an example ... It does not mean that we are suppose to take a trade into traffic .. We are also suppose to trade into space using this method but taking trade into traffic is not TABOO if you know how to manage ..

No , this is not a scalping method . The levels looks close but actually , they help us take most of the profit from our trade as possible if we trail our stops with these levels , and then , if price takes us out by reversing on us , then we will have another chance of entry again when the PBT&CA the level at which price reverse on us ... Entry chances are not rare but plenty , so do not be afraid of close targets ... It is actually a Plus point ...
Human
  • #113,583
  • Jun 22, 2012 5:43am Jun 22, 2012 5:43am
Quoting Variance
Great scalp indeed.... but could this.....
I agree, rather bullish on this setup myself. not much room for the bears.
  • #113,584
  • Jun 22, 2012 5:43am Jun 22, 2012 5:43am
Quoting Magestic
I would be very careful as it has only 20-30 pips free space. Also although 0.80 is a VBRN it has not much power in it for me. Little action in the past. Especially comparatively with the area above (0.8070).
I tend to move to BE as soon as I can , so , I am most of the time not afraid what the price do to me ... Thank you for the advice ... Always welcomed ...
Human
  • #113,585
  • Jun 22, 2012 5:47am Jun 22, 2012 5:47am
Quoting C-12
One of the big downsides of waiting price action confirmation. It can mean you arrive late to the party.

The BEOB was pretty big so you have to hope for a retrace back towards 0.8. There's no guarantee that will happen.

Best plan here would have been a touch trade at 0.8 with a small stop. Or played the retrace back to 0.8 on the H4.

Brother , you do not have to wait a retrace way back to 0.8000 which I doubt will happen ... If it does , good for you ... See my recent post about it ... I would recommend , not suggest , you do the same ... On your own risk ....
Human
  • #113,586
  • Jun 22, 2012 5:49am Jun 22, 2012 5:49am
Quoting supremeChaos
Sir If I may chime in:
- You should not always expect to make back to back or 2 consecutive trades, specially in a higher timeframe like daily.
it CAN happen, but at least u have to be realistic.

- more or less, we can say this is a continuation trade (this was not a swing low buy trade). and as such it is much trickier. u have to be prepared to run into potential PPZs

- price does not move in 1 direction for a very long time. there are always up & down moves along the way.
for nzdchf, it has been in a good upmove since 0.70/0.71 area. always...
Ofcourse it does Buddy ... Thank you ...
Human
  • #113,587
  • Jun 22, 2012 5:55am Jun 22, 2012 5:55am
Quoting bullzeye
USD/JPY

waiting to pinbar get broke

Attachment
I would recommend , Do not take this trade ... It may work out no doubt , but 8/10 times , it will fail ... Its super tiny pin bar ... Plus you are on a lower time frame ... Plus almost no confluence , plus you are running straight into BRN ... Sincere advice ...
Human
  • #113,588
  • Jun 22, 2012 5:57am Jun 22, 2012 5:57am
Quoting Chanya
If I may answer on Behalf of JARROO ,

the example shows trade being take into traffic but that's just an example ... It does not mean that we are suppose to take a trade into traffic .. We are also suppose to trade into space using this method but taking trade into traffic is not TABOO if you know how to manage ..

No , this is not a scalping method . The levels looks close but actually , they help us take most of the profit from our trade as possible if we trail our stops with these levels , and then , if price takes us out by reversing on...
Ok, thank you Chanya. So trailing very close and if momentum is strong we want get stopped out. If we get stopped we can reenter at the former s/l right? roughly how many pips above target you move s/l to target?

Is there a place where I can read about Jarroos method?
  • #113,589
  • Jun 22, 2012 6:00am Jun 22, 2012 6:00am
Quoting C-12
Alright cheers! let's see how this plays out.. Although I was meaning the USDJPY H4 chart.
Oh ok

Here's brief outline of my initial hallucination.... Hope it makes sense.....
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  • #113,590
  • Jun 22, 2012 6:01am Jun 22, 2012 6:01am
Quoting Chanya
Brother , you do not have to wait a retrace way back to 0.8000 which I doubt will happen ... If it does , good for you ... See my recent post about it ... I would recommend , not suggest , you do the same ... On your own risk ....
Oh I don't think it will either. I meant if I was watching the H4 chart yesterday I could have got in on the retracement back to 0.8.

Although no price action, I think the small risk would have been worth it.
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  • #113,591
  • Jun 22, 2012 6:08am Jun 22, 2012 6:08am
Quoting supremeChaos
what's that?
I got the same black background charts. must be an age thing

I got this feeling usdcad is off to at least 1.0650-1.0700 area (multi-year highs). 2-3months probably unless price wants more chop/ranging

Hey Bro!

Its Dow Jones.

You mean no wicks on the chart? FF is messing with my pics...
  • #113,592
  • Jun 22, 2012 6:19am Jun 22, 2012 6:19am
Quoting supremeChaos
sweet!
I'll save up & u should invite me. I think I need a visa to get there.
she can pose as my fiance jjust so i can get a tour or permanent visa

I'm from the Philippines. Aussie land is just a few hours away, you know
Great! Sounds like a plan We can get a nice big yacht and bypass any need for customs so you can walk in VIP style. Besides, we can trade on the way at sea as well LOL!!!!!!!!!!! I don't know whether it's true or not but I heard that all the income that you earn whilst travelling on international waters are all tax free so we can arrive at circular quay the proper way, or do some roundtrips around the bahamas for a bit first
  • #113,593
  • Jun 22, 2012 6:59am Jun 22, 2012 6:59am
Quoting ricosta
Ok, thank you Chanya. So trailing very close and if momentum is strong we want get stopped out. If we get stopped we can reenter at the former s/l right? roughly how many pips above target you move s/l to target?

Is there a place where I can read about Jarroos method?
I suggest u to click on Jaroo's name and write the word HCR in the search, then read all the posts u'll find.
If not up, then down, otherwise sideways :-)
  • #113,594
  • Edited 7:34am Jun 22, 2012 7:15am | Edited 7:34am
Quoting ricosta
Ok, thank you Chanya. So trailing very close and if momentum is strong we want get stopped out. If we get stopped we can reenter at the former s/l right? roughly how many pips above target you move s/l to target?

Is there a place where I can read about Jarroos method?

No , no no no .. You have got it all wrong ... Its got almost nothing to do with momentum or reentering at stop loss level ....

This thread is the only place where you can learn about JARROO's method ... If you want , you can contact him and he will himself teach you , He is a very nice guy . or visit his profile and view his charts ... And if you want , I can too as I myself have learned from him ... Contact me through PM and I will do what I can ...
Regards
Human
  • #113,595
  • Jun 22, 2012 9:20am Jun 22, 2012 9:20am
Quoting jarroo
Yes, it was a nice little setup with the potenial to be a big one . .but Price hit its targets and that is really all we want a setup like this to do . .
Indeed it did and very well too.
It also bounced where we would expect it may.
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  • #113,596
  • Edited 12:47pm Jun 22, 2012 10:39am | Edited 12:47pm
Ever had TO THE PIP experience ??? I just did today ...

EUR USD is just hit and run for me .. because price also broke through and closed below a weekly level and retest of it is due ... Will enter short there again ..
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Human
  • #113,597
  • Jun 23, 2012 1:58am Jun 23, 2012 1:58am
what about that?

- Daily;
- Level;
- Pin closed below level;
- Good break 13 pips;
- Retest

Would be a good idea getting short with SL above the pin?

many thanks in advance
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Don't give up
  • #113,598
  • Jun 23, 2012 2:05am Jun 23, 2012 2:05am
Daily IB onto level in confluence with ema 150

How is it tradable? (if it is)

Thx
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Don't give up
  • #113,599
  • Jun 23, 2012 2:15am Jun 23, 2012 2:15am
Double confluence (365 ema + 150 ema)

Daily pin bar

But with no level

What about that?
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Don't give up
  • #113,600
  • Jun 23, 2012 2:25am Jun 23, 2012 2:25am
- Daily good BEOB

- Double confluence ema 150 + ema 365

- Break;

- Retest on the previous bar low;



My doubts are:

- A level just below (almost 50 pips below the BEOB low);
- 7 pips break are a good break for this pair?


Thx
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Don't give up
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