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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

  • #116,801
  • Aug 29, 2012 5:27pm Aug 29, 2012 5:27pm
Quoting mbqb11
that's a fantastic book

Mike
I started reading it cause i noticed it on your favorite books in profile section a while ago lol.
I don't need easy. I just need possible.
  • #116,802
  • Aug 29, 2012 5:30pm Aug 29, 2012 5:30pm
Quoting DaGrizlyBull
I started reading it cause i noticed it on your favorite books in profile section a while ago lol.
lol that's why I'm reading it. PitBull was better IMO.
Many choose unhappiness over uncertainty.
  • #116,803
  • Aug 29, 2012 10:04pm Aug 29, 2012 10:04pm
Quoting HanSolo
Could you explain a little furter, Mike? Do you mean that these areas are where most orders get fulfilled and that's why price is attracted to them?

After reading Ghous' post, I had the following thought: If the important market turning points are made out of massive stacks of buy and sell orders then the big players must have a huge interest in getting price back there to fulfill these orders. Couldn't that be part of the process?
I dont think the big player interest directly affects price getting back to the level, but only indreictly.

If they place their sell orders at a certain level, there will then be a lack of sell orders at a lower level, which of course changes the ratio and causes price to rise.
  • #116,804
  • Aug 29, 2012 11:56pm Aug 29, 2012 11:56pm
Quoting RonaldinhoKuban
Jarroo, it's correct entry on h4?
Hey RK.. We usually wait for the Daily PBT&CB . . it makes sense: Daily HCR/LCS . .Daily PBT&CAorB . .Daily targets . .Daily S/L placement(s).

However there may be a time when we can use a 4 Hour PBT&CAorB on a Daily HCR/LCS level.

The key is Confluence.

Is the Daily HCR/LCS heavily Confluenced. Are there multiple HCR/LCS levels lining up (Duel Action levels, Triple Action level, etc.). SPACE. EMAs aligned with the level, BRNs, RNs, Fibs, etc.

For example the Daily NzdJpy . .Daily LCS level confluenced with two long term emas, 150 & 365 ema. . .nice.

Although this still worked out nicely on the Daily . .using a 4 Hour PBT&CB at the Daily LCS confluence level worked out too.


It didn't hurt either that there was a 4 Hour 365 ema confluence and a 4 Hour BEOB at that level too . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #116,805
  • Aug 29, 2012 11:58pm Aug 29, 2012 11:58pm
Hi guys!
Im a little bit upset about this trade of mine.
i entered at: 6.63745 and i put my SL to BE at when the price hit 6.66500 because i scared from the trend line. And of course the price turned back and closed me out.
What should i do in this case? What i did do wrong?
My risk was 94 pip and i got only 25 pips when i put the SL to BE so thats why i did not think to close part of my trade...
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Mától én vagyok a Soros!
  • #116,806
  • Aug 30, 2012 12:35am Aug 30, 2012 12:35am
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 ...
Quoting jarroo
Daily Close below . .No confirmation of Support. We could be going downtown some more. PBT&CB a HCR level

Hey Chanya . .did you take it ?. . You would have picked the High of the Day.

I know you were thinking that since PBT&CA these Daily /Weekly HCR levels that they should at as Support. . .they didn't. Once the Daily Closed below this HCR it confirmed that the level was not acting as Support.

Does this mean the levels are no good or not strong . . . No. It means that the down trend is very strong and this level failed as Support. Good chance it will act as strong Resistance . .which it did.
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Indicators show the past. Price Action "Indicates" the future.
  • #116,807
  • Aug 30, 2012 12:45am Aug 30, 2012 12:45am
Quoting Rosa
Hello,

My view of aud/jpy and my short position.

Hey Rosa .How's the aud/jpy going? . . .nice . .
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Indicators show the past. Price Action "Indicates" the future.
  • #116,808
  • Aug 30, 2012 12:56am Aug 30, 2012 12:56am
Quoting extremerrage
jarro when u r counting to make the webinar ??
Not sure when exactly . .I will let you know when .
Indicators show the past. Price Action "Indicates" the future.
  • #116,809
  • Aug 30, 2012 1:02am Aug 30, 2012 1:02am
Quoting DaGrizlyBull
Is this a good idea? Also, what does SPS mean?

Attachment

Thanks!
Looks good , DGB.

SPs = Swing Points
Indicators show the past. Price Action "Indicates" the future.
  • #116,810
  • Aug 30, 2012 1:20am Aug 30, 2012 1:20am
Quoting mbqb11
Remember it's better to do a few things really well then a lot of things poorly. That's also the beauty of being a small trader we can access the market instantly
Thanks Mike. This helps a lot.

Quoting PhAnTi'
Always ask yourself before you enter :,,What is ahead ? , where might we go to ? Which area might block price to go on ?''
Finding an evaluation method for these questions has been the most important step in my trading. I could get rid of all of these lines, indicators and stuff and it let me focus on only very few things on the chart. A big relief! Thanks for your help, Jonas.

Quoting deltaskelta
I dont think the big player interest directly affects price getting back to the level, but only indreictly.

If they place their sell orders at a certain level, there will then be a lack of sell orders at a lower level, which of course changes the ratio and causes price to rise.
Hey delta, but wouldn't that depend on the total number of big players and how their decisions coincide? For a pair like EURUSD I imagine many big players in the game with many different objectives. Why should they be consistent in their decision making? On the other hand why shouldn't they. That let's me think...
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,811
  • Aug 30, 2012 1:36am Aug 30, 2012 1:36am
Quoting Gogolak
Hi guys!
Im a little bit upset about this trade of mine.
i entered at: 6.63745 and i put my SL to BE at when the price hit 6.66500 because i scared from the trend line. And of course the price turned back and closed me out.
What should i do in this case? What i did do wrong?
My risk was 94 pip and i got only 25 pips when i put the SL to BE so thats why i did not think to close part of my trade...
Hey Gogolak, could you tell us what pair/commodity/stock/etc. you are trading here. It makes it easier for us since we can look at our own charts.

I've got two questions:
1. Why did you enter?
2. Where was your FTA (First Trouble Area), 2nd, 3rd and so on?
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,812
  • Aug 30, 2012 1:47am Aug 30, 2012 1:47am
Hello, Yarroo

I still in it but there is nothing going on . Set Be at orange line and waiting for TP (line with orange box). We will see .

Quoting jarroo
Hey Rosa .How's the aud/jpy going? . . .nice . .
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  • #116,813
  • Aug 30, 2012 1:50am Aug 30, 2012 1:50am
Hello,

Maybe to early but there is 2 HCR so I think that is good position, now I am wainting for a Jarroo "Baammmmm" . best, Rosa.
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  • #116,814
  • Aug 30, 2012 1:51am Aug 30, 2012 1:51am
Quoting Rosa
Hello, Yarroo

I still in it but there is nothing going on . Set Be at orange line and waiting for TP (line with orange box). We will see .
Hang in there, my friend . .the story is there. .

I really don't see anything that would interrupt its path to your target . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #116,815
  • Aug 30, 2012 1:53am Aug 30, 2012 1:53am
Quoting HanSolo
EURAUD is about to break the resistance on the 4h chart.
All my trades are still in play. EURAUD worked out as expected (or should I say wished). It broke my former final target on the 4hr. With some resistance above we might be in for some bigger retrace sooner or later. I don't want to give back that extra profit. I moved my SL to 1.2098.

Quoting HanSolo
My AUDUSD 2 day BEOB trade has been stopped out for a small loss. My Jarroo style trade is still in play ([email protected]).
AUDUSD also move down a bit and close below my next TA on the daily. My stop is now at 1.0363.

Quoting HanSolo
I just got short on AUDCHF.
AUDCHF closed beyond my 2nd TA. I moved my stop to 0.9924.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #116,816
  • Aug 30, 2012 1:54am Aug 30, 2012 1:54am
Hello,

My trade from yesterday, but I did not have time to post it .

I see false braek at d-channel, then possible double top, pin on weekly chart (blue line) and of course position was taken on hcr level as touch trade, now in BE and waiting for TP on blue line orange box (weekly LCS and range from double top formation). best, Rosa.
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  • #116,817
  • Aug 30, 2012 1:56am Aug 30, 2012 1:56am
Quoting Rosa
Hello,

Maybe to early but there is 2 HCR so I think that is good position, now I am wainting for a Jarroo "Baammmmm" . best, Rosa.
That LCS level might have a taste but those HCR levels look good for a entry. . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #116,818
  • Aug 30, 2012 1:56am Aug 30, 2012 1:56am
Hello Jarroo,

Thanks in advance . best Rosa.

Quoting jarroo
Hang in there, my friend . .the story is there. .

I really don't see anything that would interrupt its path to your target . .

Jim
  • #116,819
  • Aug 30, 2012 1:57am Aug 30, 2012 1:57am
http://i1171.photobucket.com/albums/...21-55-01CH.png
  • #116,820
  • Aug 30, 2012 1:58am Aug 30, 2012 1:58am
Hello Jarroo

I know, nice and easy , so when it goes BAAMMMMM ?.

Quoting jarroo
That LCS level might have a taste but those HCR levels look good for a entry. . .
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