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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

  • #114,921
  • Edited Aug 3, 2012 10:29am Aug 2, 2012 2:10pm | Edited Aug 3, 2012 10:29am
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...
Hi all!
I translated a remarkable material that has prepared Chanya the Russian language.

I must say that after the first two runaway reading this material I have not found anything that would tell us Chanya. And only in the translation of text and a detailed understanding of every sentence, I found some more subtleties in this method ..

Обновлено: исправлено наложение картинок друг на друга
Attached File(s)
File Type: pdf Price Breaks Through(Russian version).pdf   2.1 MB | 3,459 downloads
  • #114,922
  • Aug 2, 2012 2:55pm Aug 2, 2012 2:55pm
Quoting fascist
This pb looks nice.. off the 1.0500 level


FTA 1.0385
I will look at 1.4280 as first trouble area...but looks nice, is a perfect 3/4 pullback - or 78% fib, as you prefere - right into a supply zone [just some pips above due high momentum] and even if there is still some demand on the way down the compression below look juicy...we have to wait if it will triggered.
but mine is just my noob view.
stay safe
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Sometime the horizon disappear. Twitter: @_whiteout
  • #114,923
  • Aug 2, 2012 3:00pm Aug 2, 2012 3:00pm
Hi all
This is first my post, but been lurking, watching and learning - great thread, many thanks to James / Mike and the team.
Attached is a trade I'm watching AUD.USD

 

  1. Forming a weekly pin bar and a PPZ 1.4700 area

  1. BRN at 1.5

  1. Wkly fib 78.6

  1. MACD divergence on the daily

A number of reasons to short but we in a strong up trend, how do we play it, wait for the trend line break on the daily to enter.
Some input would be great.

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  • #114,924
  • Edited 4:50pm Aug 2, 2012 3:35pm | Edited 4:50pm
Quoting Chanya
Thank you for this info . I am asking totally out of curiosity , why do you have so much knowledge about fundamentals /???
How does it help ?
I like to have general knowledge about important currencies. I read a lot books, articles, watch business tv, etc. I don't take trades based on that, but if I know, that there are good information from for example usa, poor from eurozone, and I have breakout down from consolidation on eurusd - I can tell that this breakout is probably not fake, and there are good chance of downtrend. But macroeconomics data are rarely such clear Another good way to tell how strong the currency is you can compare pairs. For example you can check some usdxxx pairs and xxxusd pairs. If on most of usdxxx is uptrend and xxxusd downtrend (I'm interested in longterm, weekly bars, or zoom out daily) it mean that dollar is strong. So you don't need information that unemployment is low, PKB high, debt is paid etc. But I just really like to know this things.

And of course - my curiosity is satisfied

Euro - In report prepared by citigroup is statement that there is 90% that Greece will leave eurozone in next 12-18 months. There are problems in Spain and Italy. In short - euro is in trouble. And it won't be easy to deal with it.
And we have downtrend on euraud, eurusd, eurjpy, eurcad, eurnzd, eurgbp, eurnok, eurhkd... So for euro - it is bad, probably get worse...

And this general view just helps me to take decisions and in creating a story...well maybe it is just about my state of mind.

cheers
  • #114,925
  • Aug 2, 2012 4:27pm Aug 2, 2012 4:27pm
Hello Chanya...

I would be thankful if u could spare some time to answer this question.

suppose U have entered a trade on EUR/USD (on PBT & CA/B), and by now u are 30+ pips green, what will u do if an important news about EUR or USD is coming in next one hour.

Would u close your trade?

or

U will move to break even?

or

Will do nothing.

once again thanks in advance....

====
aslam
  • #114,926
  • Aug 2, 2012 4:41pm Aug 2, 2012 4:41pm
Quoting Hotwinter
Hello Chanya...

I would be thankful if u could spare some time to answer this question.

suppose U have entered a trade on EUR/USD (on PBT & CA/B), and by now u are 30+ pips green, what will u do if an important news about EUR or USD is coming in next one hour.

Would u close your trade?

or

U will move to break even?

or

Will do nothing.

once again thanks in advance....

====
aslam
Most of us (probably including Chanya) will do nothing. But either way - 30+ in PBT & CA/B trade is probably after fta - so trade is be in most cases.


There are different schools how to react for news, but if I recall correctly James teaches us to not pay attention.
  • #114,927
  • Aug 2, 2012 5:04pm Aug 2, 2012 5:04pm
Quoting rafstraszek
Most of us (probably including Chanya) will do nothing. But either way - 30+ in PBT & CA/B trade is probably after fta - so trade is be in most cases.


There are different schools how to react for news, but if I recall correctly James teaches us to not pay attention.
Can not say it any better ...
Human
  • #114,928
  • Aug 2, 2012 5:53pm Aug 2, 2012 5:53pm
Mike
Hello

What is your opinion on AUD cad?

We welcome feedback

Sorry for my bad English
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  • #114,929
  • Aug 2, 2012 6:27pm Aug 2, 2012 6:27pm
Quoting Yehuda Sh
Mike
Hello

What is your opinion on AUD cad?

We welcome feedback

Sorry for my bad English
I think that uptrend is tired (nice divergence) and close below 1.05 will be crucial.

But now is to early for entry - price is in consolidation, but we already had false breakout up, so reliable breakout down is very likely.
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  • #114,930
  • Aug 2, 2012 8:53pm Aug 2, 2012 8:53pm
Quoting Chanya
Can not say it any better ...
Is there anyway you could start posting your trades live like Mike and Rust do?

No problem if you can't...

thanks!
  • #114,931
  • Aug 2, 2012 9:19pm Aug 2, 2012 9:19pm
Quoting Pinbar
This is not a Pinbar, because the low is below the low of the previous bar.
It could turn into either a BEOB or a BUEOB as it has not yet closed.

Just so that the many new people do not end up thinking this is a PB.
This is a result of the Unemployment numbers coming out of the US yesterday - same wild fluctuations in price in all USD pairs. Just something to be aware of each month.
Ray
  • #114,932
  • Aug 2, 2012 9:36pm Aug 2, 2012 9:36pm
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
Hi Mike. Thanks for sharing with us with such an amazing trade.
I've just been thinking how is that possible that you didn't close the transaction on BE when you were about 400 pips green and then a price dropped below your entry? At your screen I can see that you opened transaction somewhere around 0,7850, then a price rose to 0,8241 (max 29th August 2011) and then a price dropped to 0,7820 (min 5th September 2011) so you "lost" more than 400 pips and you were already red after that!
I think it's against any rules to keep open transaction when you are: about 400 pips green, then the market goes 421 pips against your position and you've got still that position opened? How is that possible?
Best regards
  • #114,933
  • Aug 2, 2012 10:31pm Aug 2, 2012 10:31pm
Quoting midsea
This is a result of the Unemployment numbers coming out of the US yesterday - same wild fluctuations in price in all USD pairs. Just something to be aware of each month.
Ray
Possible people bought the false breakout and are now regretting it.
Actually, I believe all the factors you mentioned are built into the bars or, at least the expression of human emotions they create are.
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  • #114,934
  • Aug 2, 2012 10:39pm Aug 2, 2012 10:39pm
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
Yeah, I was watching this one all the way and wondering if you were going to cash it in around parity, after price failed to BT&CA.

Great trade Mike and a perfect example to new people how to take the best setups, manage them well and not have to pay the spread 5 times a day.
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  • #114,935
  • Aug 3, 2012 12:09am Aug 3, 2012 12:09am
Quoting ronaldinhokuban
hi all!
I translated a remarkable material that has prepared chanya the russian language.

I must say that after the first two runaway reading this material i have not found anything that would tell us chanya. And only in the translation of text and a detailed understanding of every sentence, i found some more subtleties in this method ..
Спасибо за перевод!))
  • #114,936
  • Aug 3, 2012 12:49am Aug 3, 2012 12:49am
Quoting patapouer
I m still at the very beginning of my learning but I definitely do keep an eye on the bigger picture.
I may be wrong but I prefer looking at trend continuation after a small retracement rather than a big trend reversal.
I am also new and also learning but I almost always enter in direction with the trend. Jarroos method gives you many opportunities, you can afford to be picky.
  • #114,937
  • Aug 3, 2012 1:39am Aug 3, 2012 1:39am
Quoting bullzeye
USD/CAD

thats my view of this pair...nice trend channel, will add another position of retest of the previous resistance

Attachment
USD/CAD

add another position lil higher

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  • #114,938
  • Aug 3, 2012 1:52am Aug 3, 2012 1:52am
Quoting rafstraszek
Most of us (probably including Chanya) will do nothing. But either way - 30+ in PBT & CA/B trade is probably after fta - so trade is be in most cases.


There are different schools how to react for news, but if I recall correctly James teaches us to not pay attention.
Rafstraszek thanks for that nice explanation.

I have some more questions about this plz.

I entered AUD/JPY on PBT&CA some days ago and I was 30 + pips green before reaching to FTA. but the trade reversed and closed on BE. as u saying that 30plus pips means u have reached to FTA. can u evaluate my chart weather I had identified my FTA (as 1st target) correctly or not. if yes then do not u think it contradict to your view (30 pips) as it was round about 80 pips away from my entry. Moreover, moving to BE in this trade after 30, was it a right decision?

The link to the chart is here.
http://www.forexfactory.com/showthre...41#post5886341


====
aslam
  • #114,939
  • Aug 3, 2012 2:02am Aug 3, 2012 2:02am
I just wanted to say thank you to all the people on this thread. To the seniors for sharing all their knowledge and to the newbies for inspiring discussions. The best place for trading related learning I have found so far.

THANK YOU
  • #114,940
  • Aug 3, 2012 2:26am Aug 3, 2012 2:26am
How are u buddy ?

want some guidance weather im doing right or

plz check the chart for the questions.
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