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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

  • #114,681
  • Jul 26, 2012 4:13pm Jul 26, 2012 4:13pm
Quoting Chanya
Yes it is . Its a nice setup . But , be sure to get risk free at the first level as I have pointed out on the chart below with yellow line ... Its important because not every trade would be a runner ...
Can you explain why this is a valid setup? I thought that its not valid anymore since price broke just through on monday
  • #114,682
  • Jul 26, 2012 4:14pm Jul 26, 2012 4:14pm
Quoting SlapShot
Can you explain why this is a valid setup? I thought that its not valid anymore since price broke just through on monday
What ?
Human
  • #114,683
  • Jul 26, 2012 4:22pm Jul 26, 2012 4:22pm
Quoting Chanya
Yes it is . Its a nice setup . But , be sure to get risk free at the first level as I have pointed out on the chart below with yellow line ... Its important because not every trade would be a runner ...
Surely this should have been a short trade as price crossed down below the LCS then retraced to it for an entry short (probably a loser or BE if you were there to manage it)? You would only go long on PBT&CA, then a retrace down to HCR.... ??

Beans
  • #114,684
  • Jul 26, 2012 4:37pm Jul 26, 2012 4:37pm
Quoting Chanya
Seems good enough . See the chart below and notice the blue line as first level where you should move to BE .. Yellow is where stoploss should be behind ... I would say Let this one go . I do not have a good feeling about this one . Can't explain why ..
Why would you be taking a LONG position on this trade (if you wanted to trade it) Price has broken through and closed BELOW the LCS level. Therefor we are looking for a retrace and a SHORT entry off that LCS level ???
  • #114,685
  • Jul 26, 2012 4:40pm Jul 26, 2012 4:40pm
Quoting dan89
Why would you be taking a LONG position on this trade (if you wanted to trade it) Price has broken through and closed BELOW the LCS level. Therefor we are looking for a retrace and a SHORT entry off that LCS level ???
No , price just broke through and closed above and LCS so we should take long here ... Or are you referring to some other chart ?
Human
  • #114,686
  • Jul 26, 2012 4:41pm Jul 26, 2012 4:41pm
Quoting Chanya
Yes it is . Its a nice setup . But , be sure to get risk free at the first level as I have pointed out on the chart below with yellow line ... Its important because not every trade would be a runner ...
Again, your analysis doesnt seem to follow the rules of Jarroo's method. This particular chart shows a short setup. Not a long which is what your sugesting by your take profit and stop loss levels
  • #114,687
  • Jul 26, 2012 4:43pm Jul 26, 2012 4:43pm
Quoting dan89
Again, your analysis doesnt seem to follow the rules of Jarroo's method. This particular chart shows a short setup. Not a long which is what your sugesting by your take profit and stop loss levels
Please attach a chart while asking questions brother , I am here to explain ... Without a chart you may be talking about something and I maybe be talking about another ... Attach a chart and I will clarify it ...
Human
  • #114,688
  • Jul 26, 2012 4:44pm Jul 26, 2012 4:44pm
Quoting Chanya
No , price just broke through and closed above and LCS so we should take long here ... Or are you referring to some other chart ?
Thats not the point im trying to make. Price has only NOW closed above the LCS. However, if you were watchin this chart it real time you would of placed a pending SHORT when price previosuly broke through and closed BELOW the LCS level indicated on that chart. Therefor this would of been a loosing trade ???
  • #114,689
  • Jul 26, 2012 4:44pm Jul 26, 2012 4:44pm
Quoting beans
Surely this should have been a short trade as price crossed down below the LCS then retraced to it for an entry short (probably a loser or BE if you were there to manage it)? You would only go long on PBT&CA, then a retrace down to HCR.... ??

Beans
Please provide with a chart you are talking about ...
Human
  • #114,690
  • Jul 26, 2012 4:44pm Jul 26, 2012 4:44pm
Quoting Chanya
Please attach a chart while asking questions brother , I am here to explain ... Without a chart you may be talking about something and I maybe be talking about another ... Attach a chart and I will clarify it ...
sorry for the confusion .. let me get a few charts up .. 1 min
  • #114,691
  • Jul 26, 2012 4:47pm Jul 26, 2012 4:47pm
Quoting dan89
Again, your analysis doesnt seem to follow the rules of Jarroo's method. This particular chart shows a short setup. Not a long which is what your sugesting by your take profit and stop loss levels
This was why I was asking whether it was a valid setup. I was a bit confused myself so wanted to try and clarify the rules. I won't put real money on it until I'm 100% sure of the rules and got some kind of track record on demo first.

Dave
  • #114,692
  • Jul 26, 2012 4:48pm Jul 26, 2012 4:48pm
Quoting Chanya
Please provide with a chart you are talking about ...
Its the one in post 114701 Chanya - go back a page or so.
  • #114,693
  • Jul 26, 2012 4:49pm Jul 26, 2012 4:49pm
Quoting djcash
This was why I was asking whether it was a valid setup. I was a bit confused myself so wanted to try and clarify the rules. I won't put real money on it until I'm 100% sure of the rules and got some kind of track record on demo first.

Dave
Don't forget the J16/Mike rules Dave: minimum 3 months profitable on demo first
  • #114,694
  • Jul 26, 2012 4:52pm Jul 26, 2012 4:52pm
Chanya, here is the chart of that NZD/JPY setup. You will see that your analysis is not correct. and the trade was a failed setup. Any ideas why ??

There was also a 1hr close ABOVe the LCS level which would of stoped you out for a loss

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  • #114,695
  • Jul 26, 2012 5:00pm Jul 26, 2012 5:00pm
Quoting dan89
Chanya, here is the chart of that NZD/JPY setup. You will see that your analysis is not correct. and the trade was a failed setup. Any ideas why ??

There was also a 1hr close ABOVe the LCS level which would of stoped you out for a loss

Attachment

It did not fail neither was it a loss . It was a BE , you are just getting confused because you might not have properly spotted the first level and would not have gone to BE ... I said in the PDF , sometimes , while back testing , you might get confused , So draw the lines and go down the time frame and see the levels being hit ... See the charts below and notice how they would have been BE if you took short here which would have been a perfectly valid setup , but just another BE ...
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Human
  • #114,696
  • Jul 26, 2012 5:03pm Jul 26, 2012 5:03pm
Quoting dan89
Quote from Jarroo about taking shorts and longs of LCS and HCR levels
You are down right trying to prove me wrong . I wonder why ? That's kind of rude . Try to learn brother , this attitude is getting you no where . Any more questions , I am always here , just try and trust me . If its hard , then your choice . I learned from jarroo himself and trying to teach you what he taught me ... And from that quote of yours that you post , have you noticed the word " USUALLY " in jarroo's sentence ???
Human
  • #114,697
  • Jul 26, 2012 5:06pm Jul 26, 2012 5:06pm
Quoting Chanya
It did not fail neither was it a loss . It was a BE , you are just getting confused because you might not have properly spotted the first level and would not have gone to BE ... I said in the PDF , sometimes , while back testing , you might get confused , So draw the lines and go down the time frame and see the levels being hit ... See the charts below and notice how they would have been BE if you took short here which would have been a perfectly valid setup , but just another BE ...
Ahhhh yes. you are right Chanya. I did not check that first target level. My mistake. BE trade it is
  • #114,698
  • Jul 26, 2012 5:07pm Jul 26, 2012 5:07pm
Quoting Chanya
You are down right trying to prove me wrong . I wonder why ? That's kind of rude . Try to learn brother , this attitude is getting you no where . Any more questions , I am always here , just try and trust me . If its hard , then your choice . I learned from jarroo himself and trying to teach you what he taught me ... And from that quote of yours that you post , have you noticed the word " USUALLY " in jarroo's sentence ???
sorry mate. not trying to be rude. Just trying to follow what Jarroo taught me. Trying to keep things as simple as possible for now since im still new to this method. Apologies mate
  • #114,699
  • Jul 26, 2012 5:08pm Jul 26, 2012 5:08pm
Quoting Chanya
What ?
i think he meant, that in PDF you wrote, that when price stops react to hcr/lcs then this hcr/lcs isnt valid no more.

I think, that you have to watch market and after many many hours of looking at charts, you will be able to tell is that lvl still valid or not. This is had to explain - you can't do it without experience.

in this case price just broke through without even noticing this lvl and, as beans said, it triggered us sell pending order xD which should be fired up when price touched this lvl. But price closed above giving us in fact signals for long!!!

This is absolutely beautiful ;D like chess and poker in one. There are many ways looking at market - and everybody see sth different.

Ideal spots are rare - you can wait for them or bend your rules a little. It's your call.
  • #114,700
  • Jul 26, 2012 5:10pm Jul 26, 2012 5:10pm
Quoting beans
Its the one in post 114701 Chanya - go back a page or so.

Hey Bean , it would have been a BE . See the charts below ...
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Human
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