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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

  • #114,741
  • Jul 28, 2012 3:22am Jul 28, 2012 3:22am
And I like Mike's method most of all. And especially trading away from patterns in free space. Want to become like him someday . In this recent excitement of Jarro's method I just wanted to say thanks to Mike. Share smth. new with us on uncomming week I'm waiting for your charts anylizys always anxiously.
If not up, then down, otherwise sideways :-)
  • #114,742
  • Jul 28, 2012 3:24am Jul 28, 2012 3:24am
Quoting Winston Reed
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.
Hello Winston . It's very very simple . Swings are just a visual thing . Its best to wait for the stronger one but only too small one are not trade-able . In regards to previous swings , too small means where price barely reverse but then continued in the same direction ... See the chart Below ...
Helpful ?
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Human
  • #114,743
  • Jul 28, 2012 3:29am Jul 28, 2012 3:29am
Quoting rafstraszek
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
Nice summary , Just a little point of view of mine . HCR's and LCS's are just very thin lines . How many times do you see them tested to the pip ? Mostly a PBT occurs . Tested many times theory exist mostly with the PPZ that are considered as zone . In those cases in which HCR's and LCS's are tested a few times nicely , those will be the most strongest ....
Human
  • #114,744
  • Jul 28, 2012 3:38am Jul 28, 2012 3:38am
Quoting 0421
chart:http://i45.tinypic.com/24xmnn6.gif

THX.
Its an interesting part . In cases like these , most like retest would be of the one that is most recently broken through . But , in volatile pairs , the upper one could be retested too because the logic remains the same . Either keep stops very small in these cases or either put sell on both of these levels with stops big enough to give it room ( Not recommended ) .

Although there is another way . Look for other confluences in situations like these . Look what level a confluence like PPZ or Fibonacci favors ...

See the chart below ...

Can you see the Fibonacci 38.2 lining up with the most recent PBT level ???
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Human
  • #114,745
  • Jul 28, 2012 4:14am Jul 28, 2012 4:14am
EUR/USD

we have an bullish engulfing bar on Weekly...i will try a long above this one

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  • #114,746
  • Jul 28, 2012 6:41am Jul 28, 2012 6:41am
Hey,
what do you think about this one from yesterday? Is this a valid "jarroo style" trade?
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  • #114,747
  • Jul 28, 2012 7:09am Jul 28, 2012 7:09am
Quoting SlapShot
Hey,
what do you think about this one from yesterday? Is this a valid "jarroo style" trade?
Hey guys,

this is an absolutely amazing thread. I would like to thank the generosity of some of you guys that take your time to help us newbs getting on the right track.

I've been studying Jarroo's method with the Chanyas PDF...simple but not easy.

It's interesting that you take the EURUSD with a SHORT setup. I was tempted to take a similar setup, with different levels, but for a long setup. Checkout the chart. Are they both valid?

My trading plan is: Enter Long at the retest of HCR. Move SL to BE at the 1st level (1.2332) and wait for the 2nd level to be hit to move into profit. Interesting enough is that the inicial SL might be protected by the 61.8% level of the Fib of the last big swing. Do you agree with this perspective?

Once again, i thank you with a humble heart for all your generosity.
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  • #114,748
  • Jul 28, 2012 7:43am Jul 28, 2012 7:43am
Quoting SlapShot
Hey,
what do you think about this one from yesterday? Is this a valid "jarroo style" trade?
Honnestly and looking with more attention I consider your setup to be better than the one I suggested my last post for two reasons:

1st - The LCS you are considering is of a bigger importance then my HCR. The price reaction it provoked in the past are clearly more significant.

2nd - as you can see by the chart bellow, th EURUSD as a long term descending trend intact just above your point of entry. Not bad for a Stop protection!

Cheers.
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  • #114,749
  • Jul 28, 2012 8:14am Jul 28, 2012 8:14am
Quoting Magestic
And I like Mike's method most of all. And especially trading away from patterns in free space. Want to become like him someday . In this recent excitement of Jarro's method I just wanted to say thanks to Mike. Share smth. new with us on uncomming week I'm waiting for your charts anylizys always anxiously.
Hey M

I was away for most of the day. I think it's great all the work here with S/R and jarroo. I want to caution new traders that that the true strength of anything is going to come from combining S/R with confluence as James teaches. I think new traders should research what they are comfortable with but I highly recommend starting out to those coming to the thread from the beginning with the basics as James teaches. You would be doing yourself a great disfavor not too. Having that understanding of PA is CRUCIAL.

So yes M I will start posting some basics so the new traders can get on track as well

Best
Mike
  • #114,750
  • Jul 28, 2012 8:19am Jul 28, 2012 8:19am
Quoting bullzeye
EUR/USD

we have an bullish engulfing bar on Weekly...i will try a long above this one

Attachment
I am cautious with these outside bars this week. Most just missed touching the BRNs which were hugely confluenced levels. Now we must remember that big levels are zones but I tend to like to see a touch of this area.

Now we must understand confluence on the opposite side of where price might have trouble.

Chart


Mike
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  • #114,751
  • Jul 28, 2012 8:51am Jul 28, 2012 8:51am
it's always about location. Both for understandnig if we should stay out of a trade. Or how we can manage a trade. Lots of times you will have different ways to play things and must decide if it fits your criteria.

Weekly aud/nzd. Minor swing high, nice pinbar. But look at the location. It's trading into very little "space" as well as the former Wedge area. So I don't want to be the one selling into this. BUT that doesn't mean you can't sell under the wedge and look for it too hold. Think of the descending TL like a PPZ.

These can get traders into trouble though , they sell a break and it bounces right back on them and they are left scratching their heads. We play bars, we play, s/r, we play location.


Best
Mike
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  • #114,752
  • Jul 28, 2012 3:42pm Jul 28, 2012 3:42pm
Quoting mbqb11
it's always about location. Both for understandnig if we should stay out of a trade. Or how we can manage a trade. Lots of times you will have different ways to play things and must decide if it fits your criteria.

Weekly aud/nzd. Minor swing high, nice pinbar. But look at the location. It's trading into very little "space" as well as the former Wedge area. So I don't want to be the one selling into this. BUT that doesn't mean you can't sell under the wedge and look for it too hold. Think of the descending TL like a PPZ.

These...
awesome mike!!! you are a great guy, i love your explanations charts
  • #114,753
  • Jul 29, 2012 1:33am Jul 29, 2012 1:33am
I understand looking for long setups after PBTCA a HCR level and short setups after PBTCB a LCS level. Are you also looking for trades where PBTCA a LCS level (long) and vice versa PBTCB a HCR level (short)? For example, in the attached chart, price has risen to close above a prior LCS of 0.5121 (purple dashed line) from a low in March/April. Would you be looking for a retace back to this level to trigger a long trade?

Ray
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  • #114,754
  • Jul 29, 2012 2:37am Jul 29, 2012 2:37am
GBPUSD DAILY

Hello, what is your opinion about this chart?

Last day - PBT&CA

pending order buy at 1.5725
where to place SL for this order?

thank you.
Serg
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  • #114,755
  • Jul 29, 2012 3:04am Jul 29, 2012 3:04am
Quoting Chanya
How to enter is there , just not separately named chapter because it would have contained all the same content as of PBT&CAorB chapter ... Read it again and it will become clear ...

u said something about moving to BE as soon as it touches the 1st target; what tool/indicator did u use for it?
  • #114,756
  • Jul 29, 2012 3:26am Jul 29, 2012 3:26am
breakout on french accor.
30 euro as a target.
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meine augen sind die sterne
  • #114,757
  • Jul 29, 2012 3:40am Jul 29, 2012 3:40am
Quoting eXtreme
GBPUSD DAILY

Hello, what is your opinion about this chart?

Last day - PBT&CA

pending order buy at 1.5725
where to place SL for this order?

thank you.
Serg
why buy at 5725 ?! Tell me the reason for your line, ... u need to have a reason for each entry...also dont place a trade without a stop and target.
U need a well organized trade, plan your trade !

regards,
Jonas
Hero calls followed by margin calls...
  • #114,758
  • Jul 29, 2012 4:06am Jul 29, 2012 4:06am
Quoting balloontree
u said something about moving to BE as soon as it touches the 1st target; what tool/indicator did u use for it?
http://en.luktom.biz/Page/447/luktom...l-order-editor
  • #114,759
  • Edited 8:15am Jul 29, 2012 5:28am | Edited 8:15am
Quoting eXtreme
GBPUSD DAILY

Hello, what is your opinion about this chart?

Last day - PBT&CA

pending order buy at 1.5725
where to place SL for this order?

thank you.
Serg
Nice setup, extreme,

Targets are usually previous bar Highs and Lows but they can also be previous HCR/LCS levels . .even the emas can be targets (in blue)

Stop Loss can be below the Low of the bar that PBT&CAbove. Or other levels Resistance level below our HCR level(s). . .It could be even the previous LCS level or even below the Consolidation areas for a long term potential setup.



I should be back in the swing of things (pun intended) this week.

Quoting Chanya
WELL ,

Here it is . Like I said , ALL of the Jarroo's methodology from start to the last step that is too the point and sufficiently detailed . This is all that you will need
Nice job on the PDF Chanya . . . . I'll talk more about it some time this week.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #114,760
  • Jul 29, 2012 6:50am Jul 29, 2012 6:50am
Hey all,

First post in this thread. Thank you everyone for the helpful posts here - Huge huge thanks to Chanya for producing the Price Breaks Through pdf. I have been following the thread for a while but have never tried to apply the method to my own existing trading strategies. This pdf has given me the basic understanding (I hope), and now I will try some of these out on demo.

Could someone take a look at this potential trade setup on NZDUSD and tell me if I've got the right idea here. Any feedback would be very much appreciated.

Thanks very much,

Laurence
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