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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

  • #115,661
  • Aug 16, 2012 12:37pm Aug 16, 2012 12:37pm
Quoting ts63
Hi Jarroo.Tell me if I'm wrong, but you are expecting price to retrace to the former higher daily close on EURJPY (97.44 area) before going further north. Do you wait for today's daily close to place your buy stop or not ? Thanks.
Yes that's correct . .waiting for the daily to close above the HCR level (97.44). I may entrer blindly at that level on a retrace to it or wait for lower TF bulilish PA at that level. If a Hourly or 4 Hour bar closes below the 97.44, it will take me out of the trade.

Later.

jim
Indicators show the past. Price Action "Indicates" the future.
  • #115,662
  • Aug 16, 2012 12:38pm Aug 16, 2012 12:38pm
I am still in this trade, but try to lead my short with moving SL on some levels that I think are important, so there will be highs/lows of bar from history and LCS levels from h4 chart. Can you give me some advise how to do it best ?

best, Rosa.

Quoting jarroo
Awesome trade Mike . .

man . .that 4 hour bar didn't close above that trendline . .damn, you could have stayed in it .. you had only 20 mins left to the 4 hour close, damn . .
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  • #115,663
  • Aug 16, 2012 12:41pm Aug 16, 2012 12:41pm
Quoting Rosa
I am still in this trade, but try to lead my short with moving SL on some levels that I think are important, so there will be highs/lows of bar from history and LCS levels from h4 chart. Can you give me some advise how to do it best ?

best, Rosa.
I like it, Rosa . .its a good plan . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,664
  • Aug 16, 2012 12:54pm Aug 16, 2012 12:54pm
Jarro, please answer this one

Quoting jarroo
Here's how I was the CadChf . .got to go for now

Later.

Jim
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  • #115,665
  • Aug 16, 2012 1:05pm Aug 16, 2012 1:05pm
Quoting jarroo
Great chart meshka . .here's some other S/L placement levels . .chart. .
hi jaroo.

whats the setting for the MA. EMA/SMA on close or open? thank you
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #115,666
  • Aug 16, 2012 1:38pm Aug 16, 2012 1:38pm
Quoting samuelngugi
hi jaroo.

whats the setting for the MA. EMA/SMA on close or open? thank you
150 and 365 EMA
  • #115,667
  • Aug 16, 2012 1:41pm Aug 16, 2012 1:41pm
Loving your method Jaroo.
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  • #115,668
  • Aug 16, 2012 1:52pm Aug 16, 2012 1:52pm
Here's something that caught my eye two weeks ago and have been watching. I like MSFT from both a technical and fundamental standpoint. Technical being the monthly inside bars on big round numbers, which as you can see from the chart hold a lot of weight. From the fundamental side I've read alot about Microsoft positioning themselves for loads of advertising revenue in the future a la google.
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Price is beautiful. A repetitive method is a competitive method.
  • #115,669
  • Aug 16, 2012 2:11pm Aug 16, 2012 2:11pm
Quoting Rust
It's been awhile since my last trade. I find myself extremely picky. Extremely
It haven't activated my order on my real acc yet, but an interesting one to watch.
Hope I enjoy it

Attachment
Trade closed :
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  • #115,670
  • Aug 16, 2012 2:29pm Aug 16, 2012 2:29pm
Guys,

daily nzd/cad and aud/cad. nzd has just retraced to Monthly S1 (turned resistance?) whish is also BRN. On aud/cad, the price has stalled at Monthly S1 and it looks like a weak pin? As known, these pairs have a very strong correlation. If it goes south and you look leftward of both of them, there is a massive amount of space so if we break down there should be little trouble on the way. Should we set short pending orders, say 10 pips below the last lows of both of them?

Thank you,
good luck.
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  • #115,671
  • Aug 16, 2012 2:44pm Aug 16, 2012 2:44pm
Quoting jsvihla
Guys,

daily nzd/cad and aud/cad. nzd has just retraced to Monthly S1 (turned resistance?) whish is also BRN. On aud/cad, the price has stalled at Monthly S1 and it looks like a weak pin? As known, these pairs have a very strong correlation. If it goes south and you look leftward of both of them, there is a massive amount of space so if we break down there should be little trouble on the way. Should we set short pending orders, say 10 pips below the last lows of both of them?

Thank you,
good luck.
Hey J

The real question here is what would be your trigger to get in. You would simply be selling a new low. Not that this is necessarily wrong but you won't see many of us doing that here with more information or PA.

We are certainly at a PPZ but I would stress waiting for appropriate PA in order to have a better idea of where you want to enter and set stop losses. TOday is forming a weak BUOB but this could carry us higher into friday and then next week resume the down move. Price is at the bottom of 4 major BOXES with a BRN. The key here for me is to be patient for PA to show itself.

We could be still at the bottom of the box as well. I prefer to look for a breakout and pullback to this area after price moves away, or more significant PA to tip off the short.

So your area is good, but now take step further and look for James16 PA bars to confirm what you are looking at

Best
Mike
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  • #115,672
  • Aug 16, 2012 2:59pm Aug 16, 2012 2:59pm
Can I ask somebody from this thread to put some charts of eur/usd, I cant see anything on this chart ...
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  • #115,673
  • Aug 16, 2012 3:03pm Aug 16, 2012 3:03pm
Quoting mbqb11
trade closed
Mike, you are the Champion of Money Management!
  • #115,674
  • Aug 16, 2012 3:12pm Aug 16, 2012 3:12pm
And if I could ask, for some chart of nzd/usd, best.

Quoting Rosa
Can I ask somebody from this thread to put some charts of eur/usd, I cant see anything on this chart ...
  • #115,675
  • Aug 16, 2012 3:23pm Aug 16, 2012 3:23pm
Quoting Rosa
Can I ask somebody from this thread to put some charts of eur/usd, I cant see anything on this chart ...
Hey Rosa

I am watching similar to your chart. We are sort of caught in between. Certainly in consolidation as price continues to chop. The bear flag is still in tact, it's a matter if this plays out though. I would say we are nearing the crucial point and should see movement soon out of this area. Just above us is the BRN of 1.25 so I prefer a breakout of the flag(if it happens) and a trade back into the last swing low and see if we can actually test 1.2 BRN

Best
Mike
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  • #115,676
  • Aug 16, 2012 3:25pm Aug 16, 2012 3:25pm
Quoting 5.25
Mike, you are the Champion of Money Management!
Nope even I scared myself out of this one! Jarroo was right and my original plan was to wait for a close above the TL but as we moved closer to my TP I decided to tighten up. A BITTTTTT too much


Mike
  • #115,677
  • Aug 16, 2012 3:27pm Aug 16, 2012 3:27pm
Quoting Rosa
And if I could ask, for some chart of nzd/usd, best.
Hey Rosa

Another consolidated pair. Makes it tricky so I wait till more major areas are hit personally for more clues

Best
Mike
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  • #115,678
  • Edited 4:21pm Aug 16, 2012 4:03pm | Edited 4:21pm
Chanya,
Do you have an ea that gets stop automatically to be at fta? If so, can you share this with me? (I think I recall you asking for this a while back but may have got mixed up with some other post). I am keen on demoing your method but I can't be at my computer all day and getting stop to be is the key for me (and everybody I guess).

I am currently demoing successfully for last few months just based on jim's teachings- they key for me is trading with small stops and getting stop to be asap- this requires CONFLUENCE (I will post an example of a trade I was nearly in tonight). I don't want to over-complicate things because Jim makes it seem so simple but your method seems to be bringing you great success so I am interested in demoing for a few months- but don't see any point without the ea mentioned above.

Many thanks
M,
  • #115,679
  • Aug 16, 2012 4:07pm Aug 16, 2012 4:07pm
Hello,

I am so tired today, so my charts are simple, arrow up - pending buy, arrow down - pending sell . Charts from d1 and h4. best, Rosa.
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  • #115,680
  • Aug 16, 2012 4:08pm Aug 16, 2012 4:08pm
Quoting mbqb11
Makes it tricky so I wait till more major areas are hit personally for more clues
Hi Mike, looks like demand is dominant atm. The break has occurred its standardized pullback from the break and retracement from resistance is indicating more buying. The fact 23 has held shows there are willing buyers.

Just my thoughts.

ADD: also noticed the daily closes (used to be resistance) at 23 also are being used as support.

..
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