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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

  • #116,641
  • Aug 29, 2012 1:23am Aug 29, 2012 1:23am
Quoting jarroo
I'm just throwing it out there . . . .it would be fun . .

I will get up at any time for it.
  • #116,642
  • Aug 29, 2012 1:24am Aug 29, 2012 1:24am
Quoting jarroo
I would wait . .Price is testing this proven level of Support. Give it another Daily close and see what happens . .
however ,i finally turn to long it ,just because this support area ,and i do not have much SL pips .
a free webinar .that's awesome. i am in .
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A chart helps those who can read it.
  • #116,643
  • Aug 29, 2012 1:24am Aug 29, 2012 1:24am
Quoting Pinbar
I will get up at any time for it.
I would like to do it during the week . and catch some live trades . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,644
  • Aug 29, 2012 1:27am Aug 29, 2012 1:27am
Quoting geniusztc
however ,i finally turn to long it ,just because this support area ,and i do not have much SL pips .
That's great decision genius . . .because it Price does close below that Support . and turns into Resistance . .you can always get back in it.
Indicators show the past. Price Action "Indicates" the future.
  • #116,645
  • Aug 29, 2012 1:27am Aug 29, 2012 1:27am
Quoting jarroo
Let's just stay on the Daily . James16 style . .
Hmm, this makes me think that you must be looking for bullish PA as, J16 style is not looking for bearish PA at a swing Low?
In both these cases, it would be a sl point, would it not?
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  • #116,646
  • Aug 29, 2012 1:32am Aug 29, 2012 1:32am
Quoting Pinbar
Hmm, this makes me think that you must be looking for bullish PA as, J16 style is not looking for bearish PA at a swing Low?
In both these cases, it would be a sl point, would it not?
What I meant by "James16 style" is that he stays on the Daily . .he doesn't jump around TFs like I do. .. lol. James16 does trade PA setups but also S/R trading meaning just the levels.
Indicators show the past. Price Action "Indicates" the future.
  • #116,647
  • Aug 29, 2012 1:37am Aug 29, 2012 1:37am
Quoting jarroo
What I meant by "James16 style" is that he stays on the Daily . .he doesn't jump around TFs like I do. .. lol. James16 does trade PA setups but also S/R trading meaning just the levels.

I see.
But, I have been in a live webinar thingy with J16 where he was trading the M5 Live. You remember that. I think you got to the party a little late at that time.

I just entered the SEK on that BUEOB.
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  • #116,648
  • Aug 29, 2012 1:40am Aug 29, 2012 1:40am
Quoting Pinbar
I see.
But, I have been in a live webinar thingy with J16 where he was trading the M5 Live. You remember that. I think you got to the party a little late at that time.
Yeah I remember that . . that was cool . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,649
  • Aug 29, 2012 1:43am Aug 29, 2012 1:43am
Quoting eXtreme
euraud

i think it is good place to buy :-)
Hey extreme, don't forget those daily lows to the left. They might very well act as a longer term resistance. That said, I've also got a feeling it might still go up a bit. I cancelled my final target and moved my SL to 1.2058 below the recent 4hr HCRs. But entering here? Not sure if I would do that.

Quoting deltaskelta
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?
I also thought about spotting equlibrium on the chart for some time and use it for my trading. The problem is: how does that look like and how do you know when price will get back to it? Maybe my opinion on this will change some time but I think it's easier to trade the extremes where buyers and sellers are most out of balance and form strong support and resistance. If you are interested in MA trading just search this thread for J16's "First Time Back" method.

Quoting mbqb11
Here is my chart from the PF Han

best
Mike
Sometimes I forget the most simple rules of J16 trading. Thanks for your help, Mike.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #116,650
  • Aug 29, 2012 2:16am Aug 29, 2012 2:16am
Quoting DaGrizlyBull
But why should it work? It would have to break that level more often than bounce on these levels to make sense.

After all, swing lows should be levels where demand exceeded supply ; and swing high should be levels where supply exceeds demand. The logical answer would be that once price gets there, we are in a similar situation and price should bounce.
Hey Grizly, just my opinion on that: I think Jarroo is not advising to trade a level that has been touched x times. I think what he does is pick levels that recently DID NOT hold as support or resistance and where buyers/sellers likely shifted sentiment. Does that make it clearer or am I getting you wrong here?

BTW, I agree with Winston and decided not to talk about this supply/demand stuff in here anymore. It is just a different way of talking about support and resistance areas. And it might confuse new people who still have a hard time getting their head around S/R and the different trading methods presented in here. Sorry for bringing it up in the first place.

Quoting Winston Reed
One thing I think Jarroo has said is to find the obvious ones. If you have a bunch of levels confusing the issue then move on to the next pair.
Very well said, Winston. That's what Jim (J16) and all the other great traders in here were teaching us all along: even with a fabulous method still be picky to succeed.

Quoting Pinbar
Sleep less or read faster, I guess.
LOL. I'm sleeping less already. I woke up at least six times tonight and thought about discussions in this thread and the trades I'm in. I hope I don't get too addicted to this stuff.

Quoting jarroo
How would you guys feel about me doing a free webinar for all of you to attend?


Quoting Donkey
Looks like you called it again jarroo and we got the 4H BUOB and daily close above the 1.5500....hate I wasn't at my computer for the BUOB, that one is A+ for continuation in my book.
Jarroo, sorry if I missed your answer on that. But would this be an example where you would consider a trade at the close or break of the PBT bar without a retrace? I mean when it shows some nice J16 breakout and/or continuation pattern?
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,651
  • Aug 29, 2012 2:25am Aug 29, 2012 2:25am
Quoting HanSolo

Jarroo, sorry if I missed your answer on that. But would this be an example where you would consider a trade at the close or break of the PBT bar without a retrace? I mean when it shows some nice J16 breakout and/or continuation pattern?
Yes exactly . .but more importantly is to be trading into Open Space. . .no other levels to push it to a retrace.
Indicators show the past. Price Action "Indicates" the future.
  • #116,652
  • Aug 29, 2012 2:29am Aug 29, 2012 2:29am
Quoting jarroo
How would you guys feel about me doing a free webinar for all of you to attend?
Sounds great!
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #116,653
  • Aug 29, 2012 2:31am Aug 29, 2012 2:31am
Quoting shephrd
Sounds great!

Hey Shep ..good to see you bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,654
  • Edited 3:25am Aug 29, 2012 2:47am | Edited 3:25am
Quoting jarroo
Hey Shep ..good to see you bro . .
hi jaroo. how is this. demo trade. BUOVB on bounce of 38.2 fibo level. this my 1st post. the red linne is HCR and price closed above. also price above BRN and above last weeks weekly close
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"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #116,655
  • Aug 29, 2012 2:50am Aug 29, 2012 2:50am
Quoting jarroo
How would you guys feel about me doing a free webinar for all of you to attend?
Sounds good

I watched your webinar vids when I was a member of the PF...all good stuff.
  • #116,656
  • Aug 29, 2012 3:10am Aug 29, 2012 3:10am
Quoting jarroo
Hey Shep ..good to see you bro . .
how about this GU long??
1. price above 365ema
2. above BRN
3. 38.2 fibo bounce
4. BUOB
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"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #116,657
  • Aug 29, 2012 3:26am Aug 29, 2012 3:26am
Quoting jarroo
How would you guys feel about me doing a free webinar for all of you to attend?
Hi All!
I would join your webinar Jarroo. Great idea!

benyo
  • #116,658
  • Aug 29, 2012 3:26am Aug 29, 2012 3:26am
Quoting Rust
Today I am on fire ... whew.
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Quoting Rust
Today's action. I'm in a drawdown . I feel fine till it's below the blue rectangle

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One more guy.

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P.S. These SGD pairs behave very strange leverage wise. I can't open nowhere near my full positions. Oanda can't stop saying "no money". Damn OANDA! I want more leverage !!!
Not the best i was able to do, but I am learning like all here. Experience is the key for me !

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  • #116,659
  • Aug 29, 2012 3:59am Aug 29, 2012 3:59am
Hey Mike,
I was browsing through my 2012 trades archive, and man .... it's been some time i haven't thank your for you great great work and for that you're such a great teacher! Thanks man! Again and again ... You are the man who helped me make that jump to the other side of the fence!
You are a star to me!
  • #116,660
  • Aug 29, 2012 4:14am Aug 29, 2012 4:14am
Damn power outage.
The pleasures of living in China. Grrrrrrrrrrrrrrr

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