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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

  • #114,861
  • Aug 1, 2012 2:13am Aug 1, 2012 2:13am
Quoting mbqb11
Hey Y

Looks like a lot of consolidation right now


Here is my chart

Mike
I was watching it too and this is my zone where I'm lookink for eventually bullish price action.
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Nothing personal,just business
  • #114,862
  • Aug 1, 2012 2:52am Aug 1, 2012 2:52am
Quoting Chanya
WELL ,

Here it is . Like I said , ALL of the Jarroo's methodology[b][size=3] from start to the last step that is too the point and sufficiently detailed . This is all that you will need to get started . After going through it enough times that you have memorized its content by heart , Go through as many Jarroo's charts as Possible to gain experience and variety ...

Seniors , Please have a look and see if you disagree with something .

Newbie , Just have it . [size=2]

Those...
Thanks for this!
  • #114,863
  • Aug 1, 2012 3:41am Aug 1, 2012 3:41am
Hey Chanya
i have one question. Do we get out when the Bar closes under the HCR or do we wait until Price hits SL or BE level?
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  • #114,864
  • Aug 1, 2012 4:17am Aug 1, 2012 4:17am
Quoting SlapShot
Hey Chanya
i have one question. Do we get out when the Bar closes under the HCR or do we wait until Price hits SL or BE level?
Hi Slapshot.

In his one of the recent posts, Chanya viewed that in case of HCR the Stop loss should be kept just below the bar which has broken upward HCR and closed above..i.e PBT & CA and vice versa in case of LCS.


Chanye would be able to make it more clear when he gets here...


====
aslam
  • #114,865
  • Aug 1, 2012 6:27am Aug 1, 2012 6:27am
Quoting mbqb11
Hey Y

Looks like a lot of consolidation right now


Here is my chart

Mike
many thanks ,made me clear.
retest 1.80 maybe now.watching.
Enter Signature
  • #114,866
  • Aug 1, 2012 6:31am Aug 1, 2012 6:31am
Hi Chanya.

I've a question please. I'm wondering what to do when the price never revisited a LCS/HCR from the Daily point of view, but actually did just after the break thru from the Hourly perspective.

Is it still valid to place a sell order ?

Here are two charts.

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Thanks.
  • #114,867
  • Aug 1, 2012 8:36am Aug 1, 2012 8:36am
Quoting Vnfx
Chanya,
You did a great job. I very much appreciate your compilation of Jarroo's. Your PDF is exactly what I'm trying looking for - A TRADING PLAN. I think a lot other newbies are also waiting for another PDF on Traditional J16's to be shared by you based on your excellent summary.
Hello Vnfx , I am glad I could do something that helpful to some one . But sorry , I can't do anything relating traditional J16 ... Honestly , I am not good at that . Mike is a champion with that . If you ask him , He will gladly help you with anything I am sure ...

Quoting deltaskelta
Hey Chanya, I'm new here, but I have spent a lot of time reading in the <bg>. I read through your price breaks through pdf and just want to make sure I haven't missed anything.

Basically, your just identifying PPZ's, waiting for a breakthrough, and then buying the pullback. Correct?

And then for the trade management side, moving to BE as soon it is safe, and has a little breathing room/target reached?

Just trying to break it down as simple as possible, thanks for taking the time to make the pdf.
I am not sure if its fair to say it like that this simply . Many factors are eliminated this way . Plus , we are not Using PPZ's ... That's a different thing covered up in part two ...

Quoting SlapShot
Hey Chanya
i have one question. Do we get out when the Bar closes under the HCR or do we wait until Price hits SL or BE level?
No we don't wait for the stop loss to get hit , we get out if it comes to close against us ...

Quoting Hotwinter
Hi Slapshot.

In his one of the recent posts, Chanya viewed that in case of HCR the Stop loss should be kept just below the bar which has broken upward HCR and closed above..i.e PBT & CA and vice versa in case of LCS.


Chanye would be able to make it more clear when he gets here...


====
aslam
I actually never said that but Jarroo did .... I always keep my stop loss behind a most recent PPZ and it more often then not it comes much closer to the entry then all the way back behind the full bar ...
Human
  • #114,868
  • Aug 1, 2012 9:50am Aug 1, 2012 9:50am
Hi Chanya I am stil a little unclear where you would place your stop loss. I did enter a long GBPUSD trade on Monday at the 1.57229 HCR level. I got stopped out which happens I had my stop at 1.5680. Is it possible to post a chart with this on it. Sorry if I am asking an obvious question. I do appreaciate your help and look forward to the part 2 PDF.
Thanks.
  • #114,869
  • Aug 1, 2012 9:51am Aug 1, 2012 9:51am
Quoting lansett
Hi Chanya.

I've a question please. I'm wondering what to do when the price never revisited a LCS/HCR from the Daily point of view, but actually did just after the break thru from the Hourly perspective.

Is it still valid to place a sell order ?

Here are two charts.

Attachment

Attachment

Thanks.

You can not just pick a low like that one and call it the LCS.

Also, I personally do not think looking at these areas on the daily alone is a good thing for new people to learn this methodology.

Hope this helps
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  • #114,870
  • Aug 1, 2012 10:03am Aug 1, 2012 10:03am
Actually in the post above the daily LCS is a little lower.
I just find this area more interesting as, it is a daily double action area and the weekly LCS.
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  • #114,871
  • Aug 1, 2012 10:03am Aug 1, 2012 10:03am
Quoting Chanya
Stop loss here is very simple . I kept it behind a most recent single bar minor swing high ...
So you're saying that your stop-loss was one of those levels? This is not the same as what you described in your PDF-file
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  • #114,872
  • Aug 1, 2012 10:31am Aug 1, 2012 10:31am
Quoting RonaldinhoKuban
So you're saying that your stop-loss was one of those levels? This is not the same as what you described in your PDF-file
See the chart below
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Human
  • #114,873
  • Aug 1, 2012 10:38am Aug 1, 2012 10:38am
Quoting fabx
Hi Chanya I am stil a little unclear where you would place your stop loss. I did enter a long GBPUSD trade on Monday at the 1.57229 HCR level. I got stopped out which happens I had my stop at 1.5680. Is it possible to post a chart with this on it. Sorry if I am asking an obvious question. I do appreaciate your help and look forward to the part 2 PDF.
Thanks.

I also did enter long with two trades . One was Very minor loss of 11 pips , almost a BE . Other was BE as it hit the target ... See the chart below ...
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Human
  • #114,874
  • Aug 1, 2012 10:40am Aug 1, 2012 10:40am
Quoting Pinbar

Also, I personally do not think looking at these areas on the daily alone is a good thing for new people to learn this methodology.

Hope this helps

Agree more then 100 % ...
Human
  • #114,875
  • Aug 1, 2012 11:15am Aug 1, 2012 11:15am
Chanya thanks, so I did have my stop loss in the right area so that is good to know.
What I have got to get better at is cutting out if price does not look like it is going in the desired direction. Do you watch it on the hourly and if it does not look good close out and move on rather than risking taking the full loss.
If that is the case I guess sometimes price may turn around and head off in the desired direction but I guess you just look for the next trade and try again. Is that the case.

Thanks.
  • #114,876
  • Aug 1, 2012 1:31pm Aug 1, 2012 1:31pm
Quoting mbqb11
now this is a big beob

Don't limit yourself to just FX if you are new. It's a lot easier to watch many things and be picky then try to nit pick one or two pairs on a small timeframe. That's what most people do just browse forex factory.
this turned into a HUGE monthly beob. Let's see how far this thing can get dragged down.
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  • #114,877
  • Aug 1, 2012 1:32pm Aug 1, 2012 1:32pm
Hello fellow traders...

a question to all the Jarroos Method followers out there. Check the chart.

Thank you guys!

Cheers!
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  • #114,878
  • Aug 1, 2012 2:07pm Aug 1, 2012 2:07pm
I'm sorry for being such a pain but I have another question about the Jarroos method.

When Price Breaks Through and Closes Above we are considering only a resistance level (an HCR)? I mean, we do not enter long on the PBT&CA a LCS?

From my interpretation (from Chanyas PDF) the rules are:

PBT&CA a HCR -------> enter long on re-test of HCR
PBT&CB a LCS -------> enter short on re-test of LCS

Is this right?

I hope this question makes sense to you fellows.

Thanks in advance.

Greetings fellow traders!
  • #114,879
  • Aug 1, 2012 2:39pm Aug 1, 2012 2:39pm
EURUSD short trade - stp loss above BEOB, entry 1.2250-60 zone.
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all is eternal - this is good news for people who loves bad news
  • #114,880
  • Aug 1, 2012 2:46pm Aug 1, 2012 2:46pm
another one for kiwi
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all is eternal - this is good news for people who loves bad news
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