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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

  • #114,101
  • Jul 10, 2012 2:31am Jul 10, 2012 2:31am
Quoting dan89
Hey Jarroo, good to see you back again. If you get a spare min could you check out this post I made a few days ago (quoted). Im more interested in picking valid levels, or the best levels I should say . Any advice would be great.

Cheers
Dan
Sure Dan . . I'll check it out . .
Indicators show the past. Price Action "Indicates" the future.
  • #114,102
  • Jul 10, 2012 2:32am Jul 10, 2012 2:32am
Quoting jarroo
Sure Dan . . I'll check it out . .
  • #114,103
  • Jul 10, 2012 3:07am Jul 10, 2012 3:07am
Quoting dan89
Hi Jarroo, I've been following/learning your method for a while, just wondering if you could have a look at these charts of mine and let me know your thoughts and opinions on them.

EU Weekly & Daily - Failed levels. Put down the Weekly (W) LCS levels. Traded of the Daily. Are these valid W levels ? Any reason why you think this trade failed ?

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EUR/NZD Weekly & Daily - Seems to be a winning trade. I'm more interested in whether you consider these W LCS levels valid. Are they at...
Hey Dan . .On the Euro your Weekly levels were right on.

Once PBT&CB the Weekly LCS levels (also lining up with Daily LCS levels) . .1.2678-1.2633ish levels. My bias would be to short at these levels. The Weekly closing below this deep Swing Low was a transitional event. . .yeah I know, easy to say after the fact . . but you could have made that claim pretty easily before the fact too ..don't you think? .

anyways . . . nice big bearish PA on a Lower TF would look great at these levels once it retraced back up to them. We had some Daily HCR/ LCS levels that developed at these weekly levels too that would have helped are short bias.
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Indicators show the past. Price Action "Indicates" the future.
  • #114,104
  • Jul 10, 2012 3:20am Jul 10, 2012 3:20am
Quoting dan89
Hi Jarroo, I've been following/learning your method for a while, just wondering if you could have a look at these charts of mine and let me know your thoughts and opinions on them.

EU Weekly & Daily - Failed levels. Put down the Weekly (W) LCS levels. Traded of the Daily. Are these valid W levels ? Any reason why you think this trade failed ?

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EUR/NZD Weekly & Daily - Seems to be a winning trade. I'm more interested in whether you consider these W LCS levels valid. Are they at...

Here's a transitional event on the EurNzd as described on the Euro in the previous post . .
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Indicators show the past. Price Action "Indicates" the future.
  • #114,105
  • Jul 10, 2012 3:28am Jul 10, 2012 3:28am
Hi Jarroo, What do you mean by transitional event ?
  • #114,106
  • Jul 10, 2012 3:33am Jul 10, 2012 3:33am
Quoting jarroo
Here's a transitional event on the EurNzd as described on the Euro in the previous post . .
Thanks for the chart. So those swings i had on the W were not valid im assuming.
  • #114,107
  • Jul 10, 2012 3:34am Jul 10, 2012 3:34am
Quoting dan89
Hi Jarroo, What do you mean by transitional event ?
By transitional event, I mean Price has Closed above or below a major Support or Resistance levels. . .which are at these deep swing points and/or thick consolidation areas.

In other words, a major Support level flipping or turning into a major Resistance level and vice versa. . .which could be trend changing or continuation . .

more charts coming . .
Indicators show the past. Price Action "Indicates" the future.
  • #114,108
  • Jul 10, 2012 3:40am Jul 10, 2012 3:40am
Quoting jarroo
By transitional event, I mean Price has Closed above or below a major Support or Resistance levels. . .which are at these deep swing points and/or thick consolidation areas.

In other words, a major Support level flipping or turning into a major Resistance level and vice versa. . .which could be trend changing or continuation . .

more charts coming . .
ok thanks for the explanation. Much appreciated
  • #114,109
  • Jul 10, 2012 3:55am Jul 10, 2012 3:55am
Quoting dan89
Thanks for the chart. So those swings i had on the W were not valid im assuming.
Your weekly Levels were very valid . . I would also use the Open and Close on the Weekly levels because of the damn gaps . .
Indicators show the past. Price Action "Indicates" the future.
  • #114,110
  • Jul 10, 2012 4:16am Jul 10, 2012 4:16am
Quoting jarroo
Your weekly Levels were very valid . . I would also use the Open and Close on the Weekly levels because of the damn gaps . .
Nice !
  • #114,111
  • Jul 10, 2012 4:21am Jul 10, 2012 4:21am
Quoting dan89
Hi Jarroo, I've been following/learning your method for a while, just wondering if you could have a look at these charts of mine and let me know your thoughts and opinions on them.

EU Weekly & Daily - Failed levels. Put down the Weekly (W) LCS levels. Traded of the Daily. Are these valid W levels ? Any reason why you think this trade failed ?

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EUR/NZD Weekly & Daily - Seems to be a winning trade. I'm more interested in whether you consider these W LCS levels valid. Are they at...

On the EurNzd . .

First off . I have found that many of these lower volatility pairs like the NzdUsd, EurNzd, EurCad, NzdCad, etc. tend to react well with the most recent HCR/LCS levels . .especially when they start to trend.

This is not to take away from your Weekly levels as transitional levels. . .but just to show how reactive these levels can be. . .(charts)

check other similar pairs and see if they react the same . .
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Indicators show the past. Price Action "Indicates" the future.
  • #114,112
  • Jul 10, 2012 4:40am Jul 10, 2012 4:40am
Quoting dan89
Hi Jarroo, I've been following/learning your method for a while, just wondering if you could have a look at these charts of mine and let me know your thoughts and opinions on them.

EU Weekly & Daily - Failed levels. Put down the Weekly (W) LCS levels. Traded of the Daily. Are these valid W levels ? Any reason why you think this trade failed ?

Attachment

Attachment

EUR/NZD Weekly & Daily - Seems to be a winning trade. I'm more interested in whether you consider these W LCS levels valid. Are they at...
Looks like your Aud setup is currently working out nicely, Dan . .
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Indicators show the past. Price Action "Indicates" the future.
  • #114,113
  • Jul 10, 2012 4:45am Jul 10, 2012 4:45am
Hi guys,

I am new to this thread,i have been reading on forex factory for over a year now and have been looking at a lot of different systems/methods.
If i would be honest to myself then i would have to admit that i was just searching for a shortcut

I would like to learn price action,and i think the best way to do so is participate in this thread,posting charts etc....

Yesterday on AUDUSD i saw a pinbar forming on a 50% fibo level with a confluence of a PZZ zone and a trendline? Was this a valid setup i should have taken? I was afraid to take it because the there was still al little bit of space to the PZZ and the trendline. What would you guys have done?

http://www.forexfactory.com/attachme...1&d=1341912640

Grtzz,
Nik.
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  • #114,114
  • Jul 10, 2012 4:50am Jul 10, 2012 4:50am
Thanks for the advice Jarroo. This really helps. So am i correct in saying that transitional levels are LCS and HCR levels that are at deep/very strong swings ? Rather then very recent smaller swings/pullbacks.

Also what are your thoughts on that GU setup that i posted. Im a little confused as to whether we only take long setups from a HCR level and short setups from a LCS level (one price has broken and closed above/below). That GU setup was a bit of a mix so I wasnt sure what we (beginners) do in this situation ?

Oh one last question. Since im new to this im trying to limit myself to around 8-10 pairs to monitor. Doing all 47 is too much for me at the moment as it takes a while for me to analyse each pair, plot the levels etc. Which 8-10 pairs would you recommend ?

Cheers
Dan
  • #114,115
  • Jul 10, 2012 5:15am Jul 10, 2012 5:15am
Quoting dan89
Thanks for the advice Jarroo. This really helps. So am i correct in saying that transitional levels are LCS and HCR levels that are at deep/very strong swings ? Rather then very recent smaller swings/pullbacks.

Also what are your thoughts on that GU setup that i posted. Im a little confused as to whether we only take long setups from a HCR level and short setups from a LCS level (one price has broken and closed above/below). That GU setup was a bit of a mix so I wasnt sure what we (beginners) do in this situation ?

Oh one last question. Since...
Yes, that's correct Dan. . Major Deep swing point and major consolidation areas. . .those great "boxes" that Mike and James16 talk about all the time. More recent swing points are good to look at when price is trending or a low volatility pair.

The GU can be tricky (high volatility pair) . .when the signal is mixed, do what many of the old time traders do . .pass on it . ..

Yes, we usually only take long setups when PBT&CA a HCR level and short setups when PBT&CB a LCS level. But there are other opportunities where we can trade LCS/HCR level when Price breaks through and doesn't Close AorB. . .you guess it . .at these major levels . . PA confirmation, Close confirmations . .etc . .are different ways to trade them . .example of a long entry at the Weekly LCS level on the GU . .chart.

Stick with the Usd pairs and the low volatility pairs should be a great place to start and end with . .
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Indicators show the past. Price Action "Indicates" the future.
  • #114,116
  • Jul 10, 2012 6:42am Jul 10, 2012 6:42am
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That is nice PB ? break TL and PPz Daily
  • #114,117
  • Jul 10, 2012 7:36am Jul 10, 2012 7:36am
Quoting jarroo
Looks like your Aud setup is currently working out nicely, Dan . .
Jarroo is back, as are the profits! Good to see you buddy.

I went the other way, PBT&CB small area of consolidation, retest of D1 LCS and BAM! Sloppy entry 3-4 pip draw down

Sorry I can't post an annotated chart, computers are security protected, I'm at the day job.

T
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  • #114,118
  • Jul 10, 2012 7:56am Jul 10, 2012 7:56am
Quoting Sitting duck
Hi guys,

I am new to this thread,i have been reading on forex factory for over a year now and have been looking at a lot of different systems/methods.
If i would be honest to myself then i would have to admit that i was just searching for a shortcut

I would like to learn price action,and i think the best way to do so is participate in this thread,posting charts etc....

Yesterday on AUDUSD i saw a pinbar forming on a 50% fibo level with a confluence of a PZZ zone and a trendline? Was this a valid setup i should have taken? I was afraid...
Hey Nik

Welcome to the thread

Do you mean the bar all the way to the right you have highlighted in blue?

If so that is not a pinbar but a neutral bar. Notice how the open and close are near the middle of the bar and we have equal side "tails" sticking out. This shows indecision and are often mistaken for pinbars

Let me know if that makes sense
Mike
  • #114,119
  • Jul 10, 2012 8:16am Jul 10, 2012 8:16am
Hi Mike,

It does make sense to me ,i didn't looked at it that way.
I just saw that is was sticking out of the rest and that the right eye was higher then the left one so i thought it was a valid one.

I will be more critical on the next one's.

Grtzzz,
Nik
  • #114,120
  • Jul 10, 2012 10:09am Jul 10, 2012 10:09am
Hello all,

I am new to this thread and have a LONG way to go to catch up with all the information contained here, but I am very excited to have found my way here. I've been fumbling around in the FF system threads for way too long, and I can't tell you how different this thread feels.

I am attempting to apply the tiny bit of knowledge I've already gained here, and would love to get feedback. I entered into a long trade on the GBPUSD this morning. I would love to post a pic of the setup, but I'm not familiar with how to do that yet (Help there would be greatly appreciated).

Yesterday's Daily bar was a DBLHC, and I entered on a 50% retrace of that bar. Setup is also at a BRN.

I am more than open to all thoughts and feedback.
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