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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

  • #114,721
  • Jul 27, 2012 6:53am Jul 27, 2012 6:53am
AUD/CAD

the trend continues,third touch of the TL , SL to BE

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  • #114,722
  • Jul 27, 2012 7:01am Jul 27, 2012 7:01am
Quoting meshka
potential entry for next week... in ghous style this time
oh wow meshka!!!...what a beauty thanks for that

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  • #114,723
  • Jul 27, 2012 7:10am Jul 27, 2012 7:10am
Anyone watching this one. Have the BRN to contend with.
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  • #114,724
  • Jul 27, 2012 7:13am Jul 27, 2012 7:13am
Quoting bullzeye
always great charts Rust

i was looking also on this stuff, but was stopped on BE on my first short here. Try to sell that biatch liltle lower

Attachment
Don't know, but it looks like we won't get that break. It's Friday and i am not going to mess around too long
  • #114,725
  • Jul 27, 2012 7:24am Jul 27, 2012 7:24am
Quoting Siam
Hi,

I like your PDF and it will definitely be of use to new traders. I think what you might want to point out is that you have essentially shown a breakout retest and continuation pattern.

Also the idea of using the closes of candles as your S+R line confuses me a little as most major areas are defined by the candles actual wicks. Doesn't it make sense to use these as break through points as they will surely be another a giant hurdle to contend with as price moves towards them??

Just to illustrate what I mean I was wandering what your take would...
You maybe right , but would it make a difference ? Plus , breakout is a word that has long been connected with the uncertainty for the newbie ... Uncertainty of either a breakout is legit or not , is it a fake out , how thick a zone be from where we should measure a breakout ETC ETC ...

I can't say that I agree with you on this ... Major areas maybe sometimes defined by wicks but mostly , its defined by closes at swings . Reason ? Simple , these are the area's from where for some reason price could not close across from ... And when it does , doesn't it provide us with confidence that it will hold again ??? Wicks are important but I think to be only used a targets ...

With the chart you provided , or in any other example , how certain can one be that just using wicks will provide the price with enough strength to push it in our favor ...??? More often then not , price is crossing some jumble of wicks , do we take em all ??? If so , then where would the concept of selectivity go ? We would be taking alot of trades then and wouldn't we be overtrading ???

Agree???
Human
  • #114,726
  • Jul 27, 2012 8:36am Jul 27, 2012 8:36am
Quoting Chanya
Hey Rico , I am going to add those two rest chapters in there soon . I did not added it first time because I thought that it would confuse a complete newbie . First they should be aware of the Basics ...

I do think its a great Idea but I have done my part almost buddy . That's up to the seniors now what they want to do ... You can ask them with your idea's I think . Mike for instance ...
Regards
Thats cool Chanya, Ill look out for the updated version. Thanks again, great job!
  • #114,727
  • Jul 27, 2012 8:59am Jul 27, 2012 8:59am
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 ..
The trade would go against the underlying trend and that long bullish bar looks like a news announcement or something. I tend to go with the trend if possible.
  • #114,728
  • Jul 27, 2012 9:13am Jul 27, 2012 9:13am
facebook, ergh i mean fallbook :-)
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meine augen sind die sterne
  • #114,729
  • Jul 27, 2012 9:59am Jul 27, 2012 9:59am
Quoting Siam
Hi,

I like your PDF and it will definitely be of use to new traders. I think what you might want to point out is that you have essentially shown a breakout retest and continuation pattern.

Also the idea of using the closes of candles as your S+R line confuses me a little as most major areas are defined by the candles actual wicks. Doesn't it make sense to use these as break through points as they will surely be another a giant hurdle to contend with as price moves towards them??

Just to illustrate what I mean I was wandering what your take...
Hi Siam,

These are just different techniques.

Jarroo has created a technique/method were he uses monthly, weekly and daily closes (opens too as important areas to watch and there he will look for breaks and turning points.

And the traditional way of looking important areas in PA is the wicks.

I would say both work.

Attached is the chart you were asking. If used small buffer there with Jarroo style, and then would have been in. Jarroo also talks about the small buffers. This would have required 4 pip buffer if used the lowest open and 7 pips if used the lowest close.
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  • #114,730
  • Jul 27, 2012 2:55pm Jul 27, 2012 2:55pm
Quoting Siam
Hi,

I like your PDF and it will definitely be of use to new traders. I think what you might want to point out is that you have essentially shown a breakout retest and continuation pattern.
I have to say I like the simplicity of the 'breakout, retest and continuation' conecpt for this method Siam - its nice and logical. I am still confused about the logic of some of the other entries posted, but maybe I am just cautious.

Beans
  • #114,731
  • Jul 27, 2012 3:14pm Jul 27, 2012 3:14pm
Quoting beans
I have to say I like the simplicity of the 'breakout, retest and continuation' conecpt for this method Siam - its nice and logical. I am still confused about the logic of some of the other entries posted, but maybe I am just cautious.

Beans
You should just ask whatever you are curious about .
Human
  • #114,732
  • Jul 27, 2012 3:43pm Jul 27, 2012 3:43pm
Quoting Winston Reed
Anyone watching this one. Have the BRN to contend with.
yes, a lovely movement...i took a trade on weekly, look at this crazy bar

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  • #114,733
  • Jul 27, 2012 3:58pm Jul 27, 2012 3:58pm
Quoting bullzeye
AUD/CAD

the trend continues,third touch of the TL , SL to BE

Attachment
look on this massive trend my friend i will add another position after the break of this "trend is your friend pin"

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  • #114,734
  • Jul 27, 2012 5:08pm Jul 27, 2012 5:08pm
Quoting Chanya
You should just ask whatever you are curious about .
Thanks Chanya for the PDF. In relation to LCS and HCR which swings do you identify as significant? As I am looking at current price on many pairs my eyes are drawn to the swings, some obviously big and some obviously too small but sometimes there are some that I'm not sure about. In some preliminary backtesting I find that even some of the not so big swings are tradeable but I would prefer to trade the best ones. I'm sure with practice it will come to me but any insight you have would be helpful.
Thanks.
  • #114,735
  • Jul 27, 2012 5:23pm Jul 27, 2012 5:23pm
Chanya or anyone else with good understanding of Jaroo's LCS and HCR,
I have a pink line on what I think is LCS (highlighted by beige rectangle). Is this correct or is this swing too small?
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  • #114,736
  • Jul 27, 2012 5:26pm Jul 27, 2012 5:26pm
Quoting Winston Reed
Thanks Chanya for the PDF. In relation to LCS and HCR which swings do you identify as significant?
Thanks.
Some time ago I heard that lvl from which price bounce off fast and strong are stronger, than lvls around which price struggle.

I also think that hcr/lcs of whole trend are the strongest.

And of course lvls which were tested many times.

cheers
  • #114,737
  • Jul 27, 2012 5:32pm Jul 27, 2012 5:32pm
Quoting Winston Reed
Is this correct or is this swing too small?
I think that this is very good example of lcs. Definitely valid. In my opinion of course. Not the best - it was tested only one, but still very good.
cheers
  • #114,738
  • Jul 27, 2012 7:20pm Jul 27, 2012 7:20pm
Quoting Winston Reed
Chanya or anyone else with good understanding of Jaroo's LCS and HCR,
I have a pink line on what I think is LCS (highlighted by beige rectangle). Is this correct or is this swing too small?
chart:http://i45.tinypic.com/24xmnn6.gif

THX.
  • #114,739
  • Jul 27, 2012 7:36pm Jul 27, 2012 7:36pm
chart:
http://i47.tinypic.com/sdk1s4.gif

or:

chart:
http://i49.tinypic.com/2me71ad.gif

and about second chart, how long we wait for retest??

THX.

ps.sorry for my bad english.
  • #114,740
  • Jul 27, 2012 7:49pm Jul 27, 2012 7:49pm
chart:

http://i49.tinypic.com/34ouf48.gif

THX.
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