james16 Chart Thread | Page 5829 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #116,561
  • Aug 28, 2012 6:23pm Aug 28, 2012 6:23pm
Quoting jarroo
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 . .

If Price touched and/or broke through our level . .yet Closed above it . .this would give us Daily Confirmation that the level is now a Support level.
Indicators show the past. Price Action "Indicates" the future.
  • #116,562
  • Aug 28, 2012 6:32pm Aug 28, 2012 6:32pm
Quoting jarroo
If Price touched and/or broke through our level . .yet Closed above it . .this would give us Daily Confirmation that the level is now a Support level.
I see. But how do we decide what entry method to use ? the touch trade or waiting for confirmations. If a level just so happens to fail we can always say in hindsight that waiting for a close confirmation would of been the way to go. Just getting a little confused here

Thanks
Dan
  • #116,563
  • Aug 28, 2012 6:34pm Aug 28, 2012 6:34pm
Hey guys,

I just finished reading the PDF about Jaroo's method. And from what i can tell, its basically ANTICIPATING a specific level to become a PPZ.

1) A previous high being broken to the upside and being retested as support
2) A previous low being broken to the downside and being retested as resistance.

Am i wrong?

Thanks!
I don't need easy. I just need possible.
  • #116,564
  • Aug 28, 2012 6:34pm Aug 28, 2012 6:34pm
Quoting dan89
I see. But how do we decide what entry method to use ? the touch trade or waiting for confirmations. If a level just so happens to fail we can always say in hindsight that waiting for a close confirmation would of been the way to go. Just getting a little confused here

Thanks
Dan
It was a loss .... Don't get confused ... Losses happen ... Nothing is holy grail ... Its that simple ... That is why we keep stop losses ...
Human
  • #116,565
  • Aug 28, 2012 6:36pm Aug 28, 2012 6:36pm
Quoting DaGrizlyBull
Hey guys,

I just finished reading the PDF about Jaroo's method. And from what i can tell, its basically ANTICIPATING a specific level to become a PPZ.

1) A previous high being broken to the upside and being retested as support
2) A previous low being broken to the downside and being retested as resistance.

Am i wrong?

Thanks!
No , you are not ...
Human
  • #116,566
  • Aug 28, 2012 6:43pm Aug 28, 2012 6:43pm
Quoting dan89
I see. But how do we decide what entry method to use ? the touch trade or waiting for confirmations. If a level just so happens to fail we can always say in hindsight that waiting for a close confirmation would of been the way to go. Just getting a little confused here

Thanks
Dan
If you ask James16, Mike and many others on this thread they would tell you to wait until PA presents itself at this level. . .preferably a nice size bullish PB or Outside bar. . .

There are many different ways to touch trading at this level. One way is that we still wait for a Daily Close Confirmation of Support. . .and then enter.

Or we could wait for a lower TF Close Confirmation and enter there.
Indicators show the past. Price Action "Indicates" the future.
  • #116,567
  • Aug 28, 2012 6:51pm Aug 28, 2012 6:51pm
Quoting DaGrizlyBull
Hey guys,

I just finished reading the PDF about Jaroo's method. And from what i can tell, its basically ANTICIPATING a specific level to become a PPZ.

1) A previous high being broken to the upside and being retested as support
2) A previous low being broken to the downside and being retested as resistance.

Am i wrong?

Thanks!
You are not wrong DGB . .very well said. You have just described the most common dynamic in the market . .Support and Resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #116,568
  • Aug 28, 2012 6:52pm Aug 28, 2012 6:52pm
Quoting Chanya
It was a loss .... Don't get confused ... Losses happen ... Nothing is holy grail ... Its that simple ... That is why we keep stop losses ...

Easy there Chanya ..lol .. we are all learning here.
Indicators show the past. Price Action "Indicates" the future.
  • #116,569
  • Aug 28, 2012 6:56pm Aug 28, 2012 6:56pm
Quoting jarroo
You are not wrong DGB . .very well said. You have just described the most common dynamic in the market . .Support and Resistance.
jarroo,

When you refer to signatures on lower timeframes, what are you referring to and why? Please excuse me if this has been discussed already, but I couldn't find it when I was going back through posts.
  • #116,570
  • Aug 28, 2012 6:59pm Aug 28, 2012 6:59pm
Quoting Slider20
jarroo,

When you refer to signatures on lower timeframes, what are you referring to and why? Please excuse me if this has been discussed already, but I couldn't find it when I was going back through posts.
You are right ..I probably haven't talked about Signatures here on the Thread . mainly in the PF. . .let me get a chart together . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,571
  • Aug 28, 2012 7:01pm Aug 28, 2012 7:01pm
Quoting jarroo
You are right ..I probably haven't talked about Signatures here on the Thread . mainly in the PF. . .let me get a chart together . .
I lurked on the PF for a month and the information was excellent, but there was so much and more advanced that this thread seemed a better spot to start.
  • #116,572
  • Aug 28, 2012 7:03pm Aug 28, 2012 7:03pm
Quoting Slider20
I lurked on the PF for a month and the information was excellent, but there was so much and more advanced that this thread seemed a better spot to start.

Were you there when I completed my "Basics" video series?
Indicators show the past. Price Action "Indicates" the future.
  • #116,573
  • Aug 28, 2012 7:11pm Aug 28, 2012 7:11pm
Quoting jarroo
Were you there when I completed my "Basics" video series?
Yes, I went through that series, but I don't recall anything about the signatures. Unless I'm just not placing the term with the info.
  • #116,574
  • Aug 28, 2012 7:23pm Aug 28, 2012 7:23pm
Quoting Slider20
I lurked on the PF for a month and the information was excellent, but there was so much and more advanced that this thread seemed a better spot to start.

Quoting Rosco_P
SEK crosses have great PA across the board.

Attachment
Let's look at the EurNzd . .very similar to what's developing on your chart Rosco ..

In the blue area, these three levels in green are said to have a Daily Signature. . .meaning that Price could not Close below this now Support level.

on the 4 Hour and Hourly TFs, we can see that there were some 4 Hour Signatures and Hourly Signatures . . meaning that a 4 Hour bar and Hourly bar could not Close below these Daily levels .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzd28d.gif Size: 30 KB
Click to Enlarge Name: eurnzd28d44.gif Size: 31 KB
Click to Enlarge Name: eurnzd28d4411.gif Size: 37 KB
Indicators show the past. Price Action "Indicates" the future.
  • #116,575
  • Aug 28, 2012 7:24pm Aug 28, 2012 7:24pm
Quoting Slider20
Yes, I went through that series, but I don't recall anything about the signatures. Unless I'm just not placing the term with the info.

Yeah they came later . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,576
  • Aug 28, 2012 7:28pm Aug 28, 2012 7:28pm
Quoting jarroo
Let's look at the EurNzd . .very similar to what's developing on your chart Rosco ..

In the blue area, these three levels in green are said to have a Daily Signature. . .meaning that Price could not Close below this now Support level.

on the 4 Hour and Hourly TFs, we can see that there were some 4 Hour Signatures and Hourly Signatures . . meaning that a 4 Hour bar and Hourly bar could not Close below these Daily levels .
Oh I see. So you're drilling down further to look for more information, such as if you see that price touched a PBT area once on a daily, you might see multiple attempts and/or PA candles on the lower time frame giving you the ability to enter the trade early?
  • #116,577
  • Aug 28, 2012 7:34pm Aug 28, 2012 7:34pm
Quoting Slider20
Oh I see. So you're drilling down further to look for more information, such as if you see that price touched a PBT area once on a daily, you might see multiple attempts and/or PA candles on the lower time frame giving you the ability to enter the trade early?
Yes that correct. Once PBT&CA those Daily HCR levels, presenting the possibility of that previous Resistance was turning into Support. We can see that early confirmation on the lower TFs ..or we can just wait for the Daily Signature . .which are stronger . .and go from there.
Indicators show the past. Price Action "Indicates" the future.
  • #116,578
  • Aug 28, 2012 7:39pm Aug 28, 2012 7:39pm
Quoting jarroo
Why can't I PM you??
I have no idea. I had a problem with my handle before and had to change it. Maybe something is still screwed up in the system. I'll e-mail an admin.
  • #116,579
  • Aug 28, 2012 7:47pm Aug 28, 2012 7:47pm
Quoting jarroo
Got it . .
everything fixed? If not let me know


Mike
  • #116,580
  • Aug 28, 2012 7:49pm Aug 28, 2012 7:49pm
Quoting mbqb11
everything fixed? If not let me know


Mike

Thanks Mike . .working great . .
Indicators show the past. Price Action "Indicates" the future.
68 traders viewing now