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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

  • #114,301
  • Jul 15, 2012 6:16am Jul 15, 2012 6:16am
Quoting rafstraszek
All over?? You don't see both my image on this page?? (one is in attachment, another from link, both are the same) And other my images?

for now, if you want your pictures to be shown; need to attach it like a file;

example, you could see my picture?

I am suspecting something simple like read permission issue or redirection problems;

should be fix when FF owners know about it
  • #114,302
  • Jul 15, 2012 6:24am Jul 15, 2012 6:24am
Quoting balloontree
Just wondering; are these valid weekly LCS/HCS?

Not really sure what's the difference between LCS/HCS and support/resistance lines?
Actually, I don't see your picture xD i think we have to stick outside hostings for now...
  • #114,303
  • Jul 15, 2012 6:28am Jul 15, 2012 6:28am
Quoting rafstraszek
Actually, I don't see your picture xD i think we have to stick outside hostings for now...

hahah! this is the link; http://i50.tinypic.com/sy7div.gif


I'm "learning" how to draw S/L lines esp at the in-between trends;

does anyone know a tip to pick which one matters? looks like every line matters
  • #114,304
  • Jul 15, 2012 6:29am Jul 15, 2012 6:29am
Quoting balloontree

Not really sure what's the difference between LCS/HCS and support/resistance lines?


http://i50.tinypic.com/sy7div.gif
I think that all LCS/HCR are support/resistance but not all supprt/resistance are LCS/HCR This is just the names
  • #114,305
  • Jul 15, 2012 6:31am Jul 15, 2012 6:31am
Quoting rafstraszek
I think that all LCS/HCR are support/resistance but not all supprt/resistance are LCS/HCR This is just the names

what are the differences? and do we need to care about "sub" S/L lines? this is always confusing for me
  • #114,306
  • Jul 15, 2012 6:39am Jul 15, 2012 6:39am
Quoting balloontree
what are the differences? and do we need to care about "sub" S/L lines? this is always confusing for me
S/L lines don't have to be at closes LCS/HCR is new names, new terminology created by Jarroo (i can't be sure) to his method of trading. This is just one type of support resistance lines.
Like hammers - we have claw hammer, ball pein, club hammer, sledge hammer etc. But they are still hammers
  • #114,307
  • Jul 15, 2012 6:46am Jul 15, 2012 6:46am
Quoting rafstraszek
S/L lines don't have to be at closes LCS/HCR is new names, new terminology created by Jarroo (i can't be sure) to his method of trading. This is just one type of support resistance lines.

hmmmm, how do you draw your support/resistance lines? i'm not referring to the obvious top/bottom, but the ones in the mid;

i find that it's very subjective - when it's subjective, it's confusing.........
  • #114,308
  • Edited 7:51am Jul 15, 2012 7:39am | Edited 7:51am
Quoting balloontree
hmmmm, how do you draw your support/resistance lines? i'm not referring to the obvious top/bottom, but the ones in the mid;

i find that it's very subjective - when it's subjective, it's confusing.........
No one said it will be easy - if it were, everybody would make money from trading.
Of course it is subjective and this is a good thing.

It is like variance in poker.
Brian Townsend, very good poker player said "But its this variance that creates the illusion to people that they are winning poker players. Its this variance that has given action and made millions of dollars for me over the years.". If he could always make the best possible move, like in chess (well in poker there is optimum move too, but it is never obvious, and it doesn't mean, that you win with best move) no one would like to play with him (well, only the best players).

First thing -I draw only important, obvious and very strong lvls, hcr/lcs and ppzs (only with confluence) - to keep my charts clean. (here i have thick lines)

And when i see some price action at this important lvl (I trade h4+ so I have time) I'm looking for trouble areas - this "sub-important" lvls, to see if my trade have some space to go until it hits fta - i don't want it to struggle through lot of trouble areas until it hit my tp. (here comes thins or dashed lines)
  • #114,309
  • Jul 15, 2012 8:20am Jul 15, 2012 8:20am
Quoting rafstraszek
First thing -I draw only important, obvious and very strong lvls, hcr/lcs and ppzs (only with confluence) - to keep my charts clean. (here i have thick lines)

And when i see some price action at this important lvl (I trade h4+ so I have time) I'm looking for trouble areas - this "sub-important" lvls, to see if my trade have some space to go until it hits fta - i don't want it to struggle through lot of trouble areas until it hit my tp. (here comes thins or dashed lines)

okay, let me get back to the charts again
  • #114,310
  • Jul 15, 2012 8:25am Jul 15, 2012 8:25am
Example (not perfect but will do):

Grey area (ppz+round number+lcs/hcr+monthly close and high)
http://img607.imageshack.us/img607/3764/audchf.gif

We have break:
http://img99.imageshack.us/img99/3764/audchf.gif

Pulback and inside bar (a little one, but only an example)
http://img337.imageshack.us/img337/3764/audchf.gif

So I'm preparing myself for entering - looking for trouble lvls/areas.
http://img217.imageshack.us/img217/3549/audchfy.gif
Target - blue box.
Lots of them, right? look like price reacts to them - it is good to watch them on lower tf while trading. They're not strong, but it is good to know that they are here, and it helps moving your sl - break, you move your sl a little below(or above) it lvl.


Give me hint if the images re-size well. (aren't too big)
  • #114,311
  • Jul 15, 2012 9:20am Jul 15, 2012 9:20am
Quoting rafstraszek
So I'm preparing myself for entering - looking for trouble lvls/areas.
http://img217.imageshack.us/img217/3549/audchfy.gif
Target - blue box.


What does the green arrows in the last picture mean? indication that the next open bar is a buy/sell? Or?

all the mini lines in the last picture; do you draw them manually? why?
  • #114,312
  • Jul 15, 2012 9:46am Jul 15, 2012 9:46am
Quoting balloontree
What does the green arrows in the last picture mean? indication that the next open bar is a buy/sell? Or?

all the mini lines in the last picture; do you draw them manually? why?
Ooh, it's only to show you how price reacts to this "sub-important" lvls (closes, opens, highs/lows of bars)

This mini lines are trouble areas, i draw them to help me manage the trade (but not all - i know, that they are there - and i don't need them on the chart - I have them in my mind). Normally i don't draw so many of them - it's only for you to see, that price DOES NOT move randomly - almost every close/open/high/low of bar has it's reason (in most cases )
  • #114,313
  • Jul 15, 2012 2:47pm Jul 15, 2012 2:47pm
Bullish divergence combined with a BUOB, but heading right into a PPZ (as I see PPZ in my limited knowledge. Please criticize freely.
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  • #114,314
  • Jul 15, 2012 3:54pm Jul 15, 2012 3:54pm
The different brokertimes confuse me.

First one is from OANDA, second one is from FxPro. If I went long with my OANDA account I would now have about +20 pips. If I went long with my FxPro account nothing would have happened. This makes no sense to me since they're both displaying the same market.

Could anyone explain this to me please?

I would like to stick to FxPro but there you need to use at least 0.1 lotsize which is too big for me at the beginning. OANDA is perfect in that way but the timezone doesn't suit me at all...
Attached Image(s) (click to enlarge)
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  • #114,315
  • Jul 15, 2012 3:57pm Jul 15, 2012 3:57pm
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Attached Image (click to enlarge)
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  • #114,316
  • Jul 15, 2012 4:20pm Jul 15, 2012 4:20pm
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
2000 pips...wow...that's really impressive, but more impresive for me is how long have you kept that trade...I think I wouldn't have patience, courage or guts to do it. Bravo -- You are example for all of us.
  • #114,317
  • Jul 15, 2012 4:34pm Jul 15, 2012 4:34pm
Quoting savingpig
The different brokertimes confuse me.

First one is from OANDA, second one is from FxPro. If I went long with my OANDA account I would now have about +20 pips. If I went long with my FxPro account nothing would have happened. This makes no sense to me since they're both displaying the same market.

Could anyone explain this to me please?

I would like to stick to FxPro but there you need to use at least 0.1 lotsize which is too big for me at the beginning. OANDA is perfect in that way but the timezone doesn't suit me at all...
Hey SP

This is just the time the brokers open. Oanda opens slightly earlier then a lot of brokers. Although I believe they are changing that or did change that so now they should be inline with most brokers opening at 5pm et. Price is still price. Meaning the other brokers just aren't allowing active trading so you don't see that movement till they open(and the chart will just start with whatever current price is upon opening, this is also why you see those gaps on the chart)

Best
Mike
  • #114,318
  • Jul 15, 2012 5:08pm Jul 15, 2012 5:08pm
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar

wow!!! congras!!!

don't see such pinbars very often~~
  • #114,319
  • Jul 15, 2012 5:21pm Jul 15, 2012 5:21pm
[quote=mbqb11;5842377]
Quote
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
RESPECT.
Nothing personal,just business
  • #114,320
  • Jul 15, 2012 5:30pm Jul 15, 2012 5:30pm
Hi There,
Wanted to get some comments on what I see as a weekly H&S on AU facing a resistance PPZ a weekly HCR and a 34EMA confluence on the second shoulder. Am I wrong?


Thanks
farbeh
Attached Image (click to enlarge)
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