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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

  • #116,441
  • Aug 27, 2012 9:04pm Aug 27, 2012 9:04pm
Quoting jarroo
How's that Ozzie doing mate ?. .
i'm in, what do u think about manage this trade? all on chart.

THX.

chart:
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  • #116,442
  • Aug 27, 2012 9:15pm Aug 27, 2012 9:15pm
jarroo, we have a interesing situaction on AUDCAD, and i want to now, what about situaction when price dont return to our HCR/LCS level where we want BUY/SELL?? it is some ways to take this trade or we must forgive about it.

THX.

chart:
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  • #116,443
  • Aug 27, 2012 9:25pm Aug 27, 2012 9:25pm
Quoting Donkey
EURNZD is at a nice area to watch for PA on 4H. Approaching BRN, current resistance level, 365 ema, MACD divergence. Huge BEOB would work for me here.
It sure looks like a strong, plotting uptrend D . . . .but you got to love thoses confluence to the down side . .

. . agreed, some strong bearish PA would put the fire to the fuse, D. . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,444
  • Aug 27, 2012 9:27pm Aug 27, 2012 9:27pm
Quoting 0421
jarroo, we have a interesing situaction on AUDCAD, and i want to now, what about situaction when price dont return to our HCR/LCS level where we want BUY/SELL?? it is some ways to take this trade or we must forgive about it.

THX.

chart:
Not Jarroo, but I thought i'd chime in since this happens to me a lot on Jarroo style trades and it's something I'm trying to work through. I don't know what will happen with AUDCAD....but it seems to me that sometimes when price is moving quickly we won't get a quick "retest" but may have to wait days or weeks.

A couple of ideas that I've been thinking about are selling/buying the close of the PBTCA/B bar or selling the break like a traditional PA play. You don't get as tight of stops with these methods, but you may catch more trades. Also, dropping down a time frame (4H is best for me) seems to give some opportunites. You could also increase your buffer to 5-10 pips above/below the HCR/LCS level.
Just my 2 pips worth.
  • #116,445
  • Aug 27, 2012 9:31pm Aug 27, 2012 9:31pm
GOLD: when price PBT&CA on this HCR level i take a long position, it's was on some profit, but later i missed opportunity to take short, what do you think about this situaction jarroo??

THX.

chart:
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  • #116,446
  • Aug 27, 2012 9:33pm Aug 27, 2012 9:33pm
Quoting jarroo
It sure looks like a strong, plotting uptrend D . . . .but you got to love thoses confluence to the down side . .

. . agreed, some strong bearish PA would put the fire to the fuse, D. . .
Those confluences could work on the upside as well....a BUOB or daily close above 1.5500 would work.

What can I say...I'm not too picky about the direction, but love the location
  • #116,447
  • Aug 27, 2012 9:40pm Aug 27, 2012 9:40pm
Quoting Donkey
Not Jarroo, but I thought i'd chime in since this happens to me a lot on Jarroo style trades and it's something I'm trying to work through. I don't know what will happen with AUDCAD....but it seems to me that sometimes when price is moving quickly we won't get a quick "retest" but may have to wait days or weeks.

A couple of ideas that I've been thinking about are selling/buying the close of the PBTCA/B bar or selling the break like a traditional PA play. You don't get as tight of stops with these methods, but you may catch more trades. Also,...
Thank Donkey. i'm start witch only daily and weekly time frame. i must test this buffer to 5-10 pips above/belom the HCR/LCK level.

THX.
  • #116,448
  • Aug 27, 2012 9:43pm Aug 27, 2012 9:43pm
NZDJPY thoughts on chart...I see price a pretty important level here.
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  • #116,449
  • Aug 27, 2012 9:46pm Aug 27, 2012 9:46pm
Quoting 0421
Thank Donkey. i'm start witch only daily and weekly time frame. i must test this buffer to 5-10 pips above/belom the HCR/LCK level.

THX.
I think you're very smart to stay on the weekly and daily. I think you could make a habit out of removing pips from the market by trading PBT&CA/B weekly levels. Now that you're identifying the levels yu just have to figure out what entry techniques and stop loctions fit your style.
  • #116,450
  • Aug 27, 2012 9:50pm Aug 27, 2012 9:50pm
Quoting Donkey
Not Jarroo, but I thought i'd chime in since this happens to me a lot on Jarroo style trades and it's something I'm trying to work through. I don't know what will happen with AUDCAD....but it seems to me that sometimes when price is moving quickly we won't get a quick "retest" but may have to wait days or weeks.

A couple of ideas that I've been thinking about are selling/buying the close of the PBTCA/B bar or selling the break like a traditional PA play. You don't get as tight of stops with these methods, but you may catch more trades. Also,...
Excellent post D. You nailed with the entry on the Close of the PBT&CAorB bar. Its part of the 2 entry options in my 15min entry/method I've introduced in the PF.

Cetain martket conidition need to be inplace of course when applying it to Daily Setups, the main one being . .you guessed it . . . .trading into Open Space.

Very simialr to entering on the Close of the Daily Close Confiramation bar.

Here's my post I said on the 21st on this month when the GU, EU and Swissy broke through and Close out of their respected consolidations . .

"Yes that's what I'm saying . .just like the SFP/DCC bar . . So there would be an entry long on the GU and EU and Short the Swissy today . . S/L would go below the Low of the PBT&CA bar and Above the High of the PBT&CB bar . .

We'll wait until 5:00 P M (EST) tomorrow and see what happens" . .:

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #116,451
  • Aug 27, 2012 9:52pm Aug 27, 2012 9:52pm
Quoting Donkey
I think you're very smart to stay on the weekly and daily. I think you could make a habit out of removing pips from the market by trading PBT&CA/B weekly levels. Now that you're identifying the levels yu just have to figure out what entry techniques and stop loctions fit your style.
Tanks Donkey, you now it's must take some time, but i'm very determined to improve my skils...

THX.
  • #116,452
  • Aug 27, 2012 9:52pm Aug 27, 2012 9:52pm
Quoting Donkey
Those confluences could work on the upside as well....a BUOB or daily close above 1.5500 would work.

What can I say...I'm not too picky about the direction, but love the location

Absolutely . .. .
Indicators show the past. Price Action "Indicates" the future.
  • #116,453
  • Aug 27, 2012 9:55pm Aug 27, 2012 9:55pm
Quoting jarroo
Excellent post D. You nailed with the entry on the Close of the PBT&CAorB bar. Its part of the 2 entry options in my 15min entry/method I've introduced in the PF.

Cetain martket conidition need to be inplace of course when applying it to Daily Setups, the main one being . .you guessed it . . . .trading into Open Space.

Very simialr to enter on the Close of the Daily Close Confiramation bar.

Here's my post I said on the 21st on this month when the GU, EU and Swissy broke through and Close out of their respected consolidations . ....
i know what you mean, we must be patient.

THX.
  • #116,454
  • Aug 27, 2012 10:03pm Aug 27, 2012 10:03pm
Quoting Donkey
Not Jarroo, but I thought i'd chime in since this happens to me a lot on Jarroo style trades and it's something I'm trying to work through. I don't know what will happen with AUDCAD....but it seems to me that sometimes when price is moving quickly we won't get a quick "retest" but may have to wait days or weeks.

A couple of ideas that I've been thinking about are selling/buying the close of the PBTCA/B bar or selling the break like a traditional PA play. You don't get as tight of stops with these methods, but you may catch more trades. Also,...
Aud/Cad would be a great example of entering short on the Close of the PBT&CB bar. .Dual Action level . Open Space. Sure, as you say D, there could be some draw down to endure but the market dynamic is there . .let's see where it Closes tomorrow . . . .as Mike would say . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,455
  • Aug 27, 2012 10:10pm Aug 27, 2012 10:10pm
Quoting jarroo
. .as Mike would say . .
Let me be clearer on what Mike may say . .the 1.0300 RN looks good . .but trading in the Middle of the Market doesn't look good . .
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Indicators show the past. Price Action "Indicates" the future.
  • #116,456
  • Aug 27, 2012 10:13pm Aug 27, 2012 10:13pm
Quoting jarroo
For me, its all about the Space the level is in, which I believe, is part of the First Time Back mantra. But as Price gathers (Consolidation), they loose their effectiveness.

Even the most recent or near term levels, given a bit of Space to breath into . . .can prove this common market dynamic of S/R to be fruitful..

Jim
Thanks Jim

Yeah, I think this is going South.
I may be able to get back to BE on the retrace of the monthly BUEOB but, it sure does look like North is not an option anymore.

So basically, you are saying that consolidation with highs and lows above and below an area like this, even the SP is massive, will wash it out?
Such a large swing point, we would expect at least a little bit of respect for it. But then again, this is trading what we think and not what we see.

I did have my doubts about it and that is why I just demoed it.
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  • #116,457
  • Aug 27, 2012 10:14pm Aug 27, 2012 10:14pm
Quoting 0421
i'm in, what do u think about manage this trade? all on chart.

THX.

chart:
Looks good, 0421. .previous Daily Highs and Lows .and Daily HCR/LCS levels . .as targets.
Indicators show the past. Price Action "Indicates" the future.
  • #116,458
  • Aug 27, 2012 10:20pm Aug 27, 2012 10:20pm
Quoting jarroo
Aud/Cad would be a great example of entering short on the Close of the PBT&CB bar. .Dual Action level . Open Space. Sure, as you say D, there could be some draw down to endure but the market dynamic is there . .let's see where it Closes tomorrow . . . .as Mike would say . .
Also a good reason for me to stay in the weekly BEOB . I don't usually add, but I like the dual action level on AUDCAD so I've got my order in. Now to let the market do it's thing (and hopefully take me on a little ride south )
  • #116,459
  • Aug 27, 2012 10:20pm Aug 27, 2012 10:20pm
Quoting Pinbar
Thanks Jim

Yeah, I think this is going South.
I may be able to get back to BE on the retrace of the monthly BUEOB but, it sure does look like North is not an option anymore.

So basically, you are saying that consolidation with highs and lows above and below an area like this, even the SP is massive, will wash it out?
Such a large swing point, we would expect at least a little bit of respect for it. But then again, this is trading what we think and not what we see.

I did have my doubts about it and that is why I just demoed it.

Yes . .from a Monthly perspective these HCR/LCS levels on the Monthly Consolidation is what we would be looking at now.

Let me make another chart . .about that SP . .
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Indicators show the past. Price Action "Indicates" the future.
  • #116,460
  • Aug 27, 2012 10:31pm Aug 27, 2012 10:31pm
Quoting jarroo
Aud/Cad would be a great example of entering short on the Close of the PBT&CB bar. .Dual Action level . Open Space. Sure, as you say D, there could be some draw down to endure but the market dynamic is there . .let's see where it Closes tomorrow . . . .as Mike would say . .
The close below the swing (bar low) marked on the chart below, and the momentum of yesterday's bar is what had me thinking of an entry at close rather than the retest. I've noticed when many of my retest entries aren't picked up, there is a significant high or low that is taken out along with the HCR/LCS.

Going to be fun watching this play out, regardless of if I'm in it or not.
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