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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

  • #116,541
  • Aug 28, 2012 4:08pm Aug 28, 2012 4:08pm
Quoting Rust
Hey man,
which broker do you trade with? I don't have this pair ... hmm .
Hey Rust,

I'm at Oanda but they do not offer this pair. Last time i've build position there by trading GBPUSD & USDNOK with help of ATR indicator.
  • #116,542
  • Aug 28, 2012 4:15pm Aug 28, 2012 4:15pm
nzdusd

please help me with this pair

red lines are weekly HCR and LCS

price breaks through & closes below weekly LCS
but
price closes above two daily HCR and TL

what is your opinion about this pair?

thanks
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  • #116,543
  • Aug 28, 2012 4:41pm Aug 28, 2012 4:41pm
Quoting HanSolo
Hello Mike, would you consider trading the daily if it closes as a BEOB or do you think there's not enough confluence?
Here is my chart from the PF Han

best
Mike
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  • #116,544
  • Aug 28, 2012 4:46pm Aug 28, 2012 4:46pm
Quoting Yehuda Sh
Mike

Hello

What is your opinion on the G / CAD PB

Thank you
Hey Yehuda

Notice price was unable to create any space away from the previous up move. This with the weak close to me just doesn't show enough confidence or reason to be buying. It puts us in a difficult spot this is an easy pass for me

Best
Mike
  • #116,545
  • Aug 28, 2012 4:51pm Aug 28, 2012 4:51pm
Quoting tinkerbelle
If you dont know what to do when waiting for trades or simply wanna listen something funny, truth and educaiting about tradeing you should listen The traders podcast with Rob Booker. I downloaded them all and copy to ipod and listening when rideing.

I listend 4 - 13 episods yet and i can really really recommend it.
Please don't spam this thread . .especially with this guy.
Indicators show the past. Price Action "Indicates" the future.
  • #116,546
  • Aug 28, 2012 4:56pm Aug 28, 2012 4:56pm
Quoting Greenhaze
Hey Rust,

I'm at Oanda but they do not offer this pair. Last time i've build position there by trading GBPUSD & USDNOK with help of ATR indicator.
Many thanks GH
  • #116,547
  • Aug 28, 2012 5:08pm Aug 28, 2012 5:08pm
Quoting jarroo
Please don't spam this thread . .especially with this guy.
Hi jarroo,
sorry? for post i posted today. why dont you like him? i dont want to spam just post some audio material for cutting time...
  • #116,548
  • Aug 28, 2012 5:12pm Aug 28, 2012 5:12pm
I just had a thought, which I would like an opinion on...

The general thought is to trade away from S/R areas...

but what about moving averages? If you think about it, when price is above an MA, it is above average, and when it is below an MA, it is below average. Should you then be looking to trade towards those points because they are the average?
  • #116,549
  • Aug 28, 2012 5:15pm Aug 28, 2012 5:15pm
Quoting tinkerbelle
Hi jarroo,
sorry? for post i posted today. why dont you like him? i dont want to spam just post some audio material for cutting time...
When you post a link to his audio material you are also linking him to his website . .you are advertising him here.

I know about him. Not a bad guy . . but his methods of trading and motives are questionable.
Indicators show the past. Price Action "Indicates" the future.
  • #116,550
  • Aug 28, 2012 5:18pm Aug 28, 2012 5:18pm
I am having a tough time with this one with the close that just occurred ... Jarroo , Can I have your point of view of whether its time to kill the trade or let continue ??? Under normal conditions , I let these kinds continue but downward momentum is making me uneasy a bit ...
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Human
  • #116,551
  • Aug 28, 2012 5:22pm Aug 28, 2012 5:22pm
Quoting Chanya
I am having a tough time with this one with the close that just occurred ... Jarroo , Can I have your point of view of whether its time to kill the trade or let continue ??? Under normal conditions , I let these kinds continue but downward momentum is making me uneasy a bit ...
Daily Close below . .No confirmation of Support. We could be going downtown some more. PBT&CB a HCR level
Indicators show the past. Price Action "Indicates" the future.
  • #116,552
  • Aug 28, 2012 5:28pm Aug 28, 2012 5:28pm
Quoting jarroo
Daily Close below . .No confirmation of Support. We could be going downtown some more. PBT&CB a HCR level
So all these weekly levels are of no use too ???
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Human
  • #116,553
  • Aug 28, 2012 5:28pm Aug 28, 2012 5:28pm
Quoting jarroo
When you post a link to his audio material you are also linking him to his website . .you are advertising him here...
i think nobody cares about his style of tradeing when is here and tradeing his own style.. PA,SR,PPZ... and also nobody is looking for this like am trying to make some adverising.. i thought that would be good but dont know that here is so strict censorship...

anyway ... apologies ... if ill find some "interesting" materials ill keep to mysefl for next time.
  • #116,554
  • Aug 28, 2012 5:33pm Aug 28, 2012 5:33pm
Quoting Chanya
So all these weekly levels are of no use too ???
They are very important and very strong . and are failing as strong Support today. . .good chance they will act as strong Resistance now.

They are Weekly levels also, correct? If the Weekly can't close below these levels at the end of the week . .I like longs here.
Indicators show the past. Price Action "Indicates" the future.
  • #116,555
  • Aug 28, 2012 5:36pm Aug 28, 2012 5:36pm
Quoting Pinbar
It appears that this area is getting penetrated much more deeply than Friday or Monday.

Perhaps, it will break and turn into resistance for a move down.
Stay on the Daily , my friend . . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,556
  • Aug 28, 2012 5:41pm Aug 28, 2012 5:41pm
Quoting tinkerbelle
i think nobody cares about his style of tradeing when is here and tradeing his own style.. PA,SR,PPZ... and also nobody is looking for this like am trying to make some adverising.. i thought that would be good but dont know that here is so strict censorship...

anyway ... apologies ... if ill find some "interesting" materials ill keep to mysefl for next time.

You may mention the material or the person but then ask for a PM from others for more info . . . just don't post direct links .

Thanks,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #116,557
  • Aug 28, 2012 6:12pm Aug 28, 2012 6:12pm
Quoting RonaldinhoKuban
Jarroo, I'll understand correctly that you advise not to watch the monthly and weekly HCR / LCS (except recent Weekly levels), and just trade on day levels?

Well, we always want to see whats going on . . on the Weekly and Monthly when we are trading the Daily. . meaning there may be an even bigger story going on the Weekly . .a bigger Wedge formation developing, etc. . .

. .but also if our Daily HCR/LCS levels are also Weekly or even Monthly HCR/Levels as well. . these are even stronger levels when they are on Multiple higher TFs.

You'll notice that James16 doesn't jump around TFs like I do . . there a lot to learn from that.
Indicators show the past. Price Action "Indicates" the future.
  • #116,558
  • Aug 28, 2012 6:13pm Aug 28, 2012 6:13pm
Quoting Chanya
I am having a tough time with this one with the close that just occurred ... Jarroo , Can I have your point of view of whether its time to kill the trade or let continue ??? Under normal conditions , I let these kinds continue but downward momentum is making me uneasy a bit ...
Jarroo, wouldnt these hcr levels have been valid levels to take long positions from ? Obviously they failed though

Cheers
Dan
  • #116,559
  • Aug 28, 2012 6:13pm Aug 28, 2012 6:13pm
SEK crosses have great PA across the board.

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  • #116,560
  • Aug 28, 2012 6:19pm Aug 28, 2012 6:19pm
Quoting dan89
Jarroo, wouldnt these hcr levels have been valid levels to take long positions from ? Obviously they failed though

Cheers
Dan
Yes, they were valid levels to look for long positions. (Support level)

The question is . .can Price give us clues or confirmations that the level is a Supoort level from its previous Resistance.

A bullish PinBar or bullish Outside bar would give us confirmation that the level flipped to Support . .
Indicators show the past. Price Action "Indicates" the future.
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