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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

  • #116,901
  • Aug 30, 2012 4:53pm Aug 30, 2012 4:53pm
Hello Jarroo

Where do you have BAM , 30 pips on this trade is not a BAAMM . But I have BE so maybe .

best, Rosa.


Quoting jarroo
Nice trade Rosa . .you picked the High of the Day . . Bam!! Baby . .
  • #116,902
  • Aug 30, 2012 4:55pm Aug 30, 2012 4:55pm
Quoting Rosa
Hello Jarroo

Where do you have BAM , 30 pips on this trade is not a BAAMM . But I have BE so maybe .

best, Rosa.

I think the BAM was for picking the High of day lol
I don't need easy. I just need possible.
  • #116,903
  • Aug 30, 2012 4:56pm Aug 30, 2012 4:56pm
Hello,

My trade from close of a daily bar (gmt) over hcr on daily and weekly. best, Rosa.
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  • #116,904
  • Aug 30, 2012 4:59pm Aug 30, 2012 4:59pm
Quoting Pinbar
Hmm, would have been possible to add to the position here.
Here comes the RT of this level.

Yes that's true you could add to you position there , ,or the HCR below it . .but more importantly it shows that the uptrend is strong because its respecting and bouncing off our levels very nicely. Its showing us signs . .hints . clues . ..indicatons . .confirmations of trending .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #116,905
  • Aug 30, 2012 5:11pm Aug 30, 2012 5:11pm
Quoting Pinbar
Jarroo, I just read your post on NZD/USD.
Are you not concerned about the FTB to the 150 EMA and it confluencing with the 0.8000?

Just trying to get a handle on how you can be so sure of it reaching its daily target, given the two factors mentioned.
The post that you replied to . .I was talking about Rosa's AudJpy trade.

But on the NzdUsd BRN .8000 and 150 confluence is a good question. Mike would never trade into a BRN .. .we always want to be trading away from BRN as Mike would say . .and its very sound trading advise.

But it we could just get below that BRN how great would that be ..we just reduce our risk or go to break even and see how strong this down trend really is . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,906
  • Aug 30, 2012 5:11pm Aug 30, 2012 5:11pm
What do the arrows, X-es and The light blue areas mean?
I don't need easy. I just need possible.
  • #116,907
  • Aug 30, 2012 5:16pm Aug 30, 2012 5:16pm
Quoting DaGrizlyBull
What do the arrows, X-es and The light blue areas mean?

Blue areas are potential buy entries . .. arrows are entries . . . and "X-es" are Stop Loss placements.
Indicators show the past. Price Action "Indicates" the future.
  • #116,908
  • Edited 5:40pm Aug 30, 2012 5:26pm | Edited 5:40pm
Quoting DaGrizlyBull
So there si no rule to which side the HCR or LCS should be broken?

I see you agreeed with the sell decision when the HCR level was broken to the downside and closed below. I thought HCR need PBTCA and LCS need PBTCB to be a valid trade.

Why wouldn't we have entered long on that level since PBT CA in July, and now we are retesting that level (long entry) ?

Thanks
The only rule of HCR/LCS levels is where Price Closes in relationship to them.

Why long since PBT CA in July? . .because in July it was a Resistance level (HCR) .since Price broke through and Closed Above that Resistance level (HCR) there was a good chance that it would turn into a Support level for longs . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,909
  • Aug 30, 2012 5:38pm Aug 30, 2012 5:38pm
Quoting RonaldinhoKuban
Jarroo, what would you do in this situation: sold at the touch of a weekly level LCS or would wait close of the candle?
I know that both methods are valid, but what would you have chosen?
gLCSs - gaped LCS

I would wait for the Daily or Weekly Close Confirmation of Resistance. . we have had some Daily Close Confirmation of Resistance at the 1.5671 Daily LCS and this sucker barely moved south . .the uptrend is very stong on this one. We may need some big bearish PA at these levels to move it short from here.
Indicators show the past. Price Action "Indicates" the future.
  • #116,910
  • Edited 6:44pm Aug 30, 2012 5:42pm | Edited 6:44pm
Quoting jarroo
The only rule of HCR/LCS levels is where Price Closes in relationship to them.

Why long since PBT CA in July? . .because in July it was a Resistance level (HCR) .since Price broke thourgh and Closed Above that Resistance level (HCR) there was a good chance that it would turn into a Support level for longs . .
I was referring to the picture in this post :

http://www.forexfactory.com/showthre...15#post5969915

We could interpret that in 2 ways. Long on a PBT&CA or Sell on the most recent PBT & CB.
Which one do we take? Cause from what i read, when we decide to go long, we put a limit buy order on that level, and we don't wait to see if it does close below or not.

I may not fully understood your method..All I've read was Chanya's PDF

Edit: Here is a screen to better show what i mean:

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I don't need easy. I just need possible.
  • #116,911
  • Aug 30, 2012 5:53pm Aug 30, 2012 5:53pm
Quoting Chanya
Jarroo , One question from me too please ....

I have a little bit of situation here ... I want you opinion ...
Yes you could absolutely close your sell trade when a Daily Close Confirmation of Support is printed at that level. Why? because if the next day it closes below it you could always re-enter short.

But I may wait another day . .Price is trending strong in Space . it may be a temporary pause.
Indicators show the past. Price Action "Indicates" the future.
  • #116,912
  • Aug 30, 2012 6:00pm Aug 30, 2012 6:00pm
Quoting jarroo
Yes you could absolutely close your sell trade when a Daily Close Confirmation of Support is printed at that level. Why? because if the next day it closes below it you could always re-enter short.

But I may wait another day . .Price is trending strong in Space . it may be a temporary pause.
Hi,

What does it mean Daily Close Confirmation of support . Could you explain.
  • #116,913
  • Aug 30, 2012 6:14pm Aug 30, 2012 6:14pm
Quoting james -1.6
First of all, i'd like to thanks to all in this thread.
I have red it for 1 year.

What about my first chart?
GBP/TRY daily Pin.
I think there is enough space to reach the FTA.

Hey james . .I love that username . .

The Space looks good and the PB looks good too . .but the size of the PB . . compared to the strong move upwards . .is pretty small. It could break lower but it may be short lived.
Indicators show the past. Price Action "Indicates" the future.
  • #116,914
  • Aug 30, 2012 6:27pm Aug 30, 2012 6:27pm
Quoting rafstraszek
Recently I went to sleep (after checking j16 thread) and after waking up (7-8 hours I think) I checked j16 ff again - ten new pages o.O Made myself a coffee - 3 more appeared
LOL. Under User Options, Thread Display Options increase the number of posts per page. It keeps the speed of the thread a little more manageable. Works for me
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  • #116,915
  • Aug 30, 2012 6:39pm Aug 30, 2012 6:39pm
Quoting zakariawaiz
Hi,

What does it mean Daily Close Confirmation of support . Could you explain.

Does this chart help . .??
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Indicators show the past. Price Action "Indicates" the future.
  • #116,916
  • Aug 30, 2012 6:48pm Aug 30, 2012 6:48pm
Quoting DaGrizlyBull
I have a question regarding with the situation on the post above (mine) and PBT method. How often will price shoot down without a larger retest?

The situations i thought about are:

1) PBT&CB, small retest the next day and shoot down

2) PBT&CB, small retest the next day , shoot down and retest again with a more ample retracement

3) PBT&CB, no retest the next day, shoot down and retest with a more ample retracement

4) PBT&CB, no retest the next day, and just shoot down without a retracement.

Hope this is clear. Thanks

Edit: Did someone...
The above senarios all have to do with Space and traffic . .like 4) that ocurrs when we are trading in to wide Open SPACE.
Indicators show the past. Price Action "Indicates" the future.
  • #116,917
  • Aug 30, 2012 6:48pm Aug 30, 2012 6:48pm
Quoting jarroo
Yes you could absolutely close your sell trade when a Daily Close Confirmation of Support is printed at that level. Why? because if the next day it closes below it you could always re-enter short.

But I may wait another day . .Price is trending strong in Space . it may be a temporary pause.
Makes sense . Please read whats written under my username ...

Did you take any trades today ?
Human
  • #116,918
  • Aug 30, 2012 6:59pm Aug 30, 2012 6:59pm
Quoting Chanya
Makes sense . Please read whats written under my username ...

Did you take any trades today ?
I am with Rosa on the NzdUsd . .still in the Cad, EurAud, EurNzd, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #116,919
  • Aug 30, 2012 7:08pm Aug 30, 2012 7:08pm
Quoting jarroo
Yes that's true you could add to you position there , ,or the HCR below it . .but more importantly it shows that the uptrend is strong because its respecting and bouncing off our levels very nicely. Its showing us signs . .hints . clues . ..indicatons . .confirmations of trending .

Jim
Also, they are good areas for trade management, I feel.
Thanks Jim.
  • #116,920
  • Aug 30, 2012 7:09pm Aug 30, 2012 7:09pm
Quoting mbqb11
Hey Steve

Multi high/lows are great sings of continuation when broken. I trade them by themselves or even better with confluence. For example the usd/cad and usd/sek charts I recently posted. We had both PA confirmation + multi bar highs! That is a deadly combo there.

They can also be useful in trade mgmt. For example if those lows break that strong trend could be giving. When I play them by themselves I like them at nice swing points in space as well

Hope that helps
Mike
Thanks Mike.
Yes, I remember that they are very powerful areas when violated and usually add to the momentum of price.
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