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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

  • #117,021
  • Sep 1, 2012 10:19am Sep 1, 2012 10:19am
Quoting nwo-trader
Here's something that caught my eye two weeks ago and have been watching. I like MSFT from both a technical and fundamental standpoint. Technical being the monthly inside bars on big round numbers, which as you can see from the chart hold a lot of weight. From the fundamental side I've read alot about Microsoft positioning themselves for loads of advertising revenue in the future a la google.
Still watching MSFT with interest after another monthly IB/I4B formed for August. Waiting for resistance at 31 to break and then act as support.
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Price is beautiful. A repetitive method is a competitive method.
  • #117,022
  • Sep 1, 2012 10:31am Sep 1, 2012 10:31am
Quoting Barefoot
So I thought I would take a moment to reflect on my trading since I've been studying J16 and Jaroo methodology.

I have been trading for about 3 years now, some live, but mostly on demo because I've never found that magic indicator (wink) that makes my demo account grow 100%/week. Prior to J16 I never had any consistently positive results, and my positive months were more the result of lucky trades using absurd levels of risk.

I started studying J16 in June and dedicated myself to following James' outline of treating this like a business. In...
hey cool man!

Love hearing this stuff


Keep at it
Mike
  • #117,023
  • Sep 1, 2012 10:50am Sep 1, 2012 10:50am
Quoting Gogolak
Guys! I would like to say thank you to EVERYBODY from this thread. Im trading (learning) since last september and this is my first month with profit just because i use this Jarroo' s method.
Quoting Barefoot
So I thought I would take a moment to reflect on my trading since I've been studying J16 and Jaroo methodology.
Those are great news, you guys. Congratulations. Keep up the good work!

Quoting jarroo
This was a perfect exit on the EurAud (and EurNzd) . .Why? because if Price falls from this strong Resistance then . . .you win. . .if Price Breaks Through and Closes Above these strong Resistance levels turning them into strong Support . .you win also . .because you can always re-enter long if it does.

I'm still long on both pairs because I feel the uptrend on both is still very strong. But I would rather be in your shoes than mine. . because I don't have a win-win situation like you do right now . .
Hi Jarroo, thanks for the compliment. Where did you enter the trade? Have you already locked in some profit? I think I will stay out of this pair next week and maybe ride it again on its way down.
Thanks J16, Sam Seiden, Udine and Jacko
  • #117,024
  • Sep 1, 2012 11:47am Sep 1, 2012 11:47am
Hello Jarroo,

I don't play other TF, just sitting on daily right now, but sometimes I wanto to see bigger picture . So what I see:

1 - monthly
RGR formation which has brokes neckline and neckline was retested,
Trend is down, lower highs - red line
I think that prices will go into my orange box - big area of support

2 - weekly
Trend is down, lower highs - black line
Is there BEOB on last two candles ?

3 - daily
There was two actions HCR, then was CA and then tested like support, now CB and we have test like resistance
There is brokes up-trend, and on Friday was retest

Sooo, I am short, and my target is on daily orange box - LCS and bottom of previous range.

Jarroo, please comment . best, Rosa.

Quoting jarroo
Nzdusd should be fun to watch next week . .Price already made a few Daily Highs and Lows of the Day from the previous HCR levels . .let's see if they continue to produce Highs and Lows of the Day . . . . . . . then again it may just drop straight down . .
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  • #117,025
  • Sep 1, 2012 11:58am Sep 1, 2012 11:58am
Hello all,

Interesting situation on the EURGBP weekly chart. (Work full time so that is this only timeframe I think I can watch without dreaming about charts in my sleep!)

Would love to hear others' view about this..

Price has closed above the last HCR. Like this due to the following:

1. Price has broken out of an ascending triangle.
2. Price has taken support at the 38.2 fib retracement.
3. Price looks to have broken a supply trend line.
4. Above BRN .7900

I understand price might run into rough weather around the VBRN .8 (along with some price consolidation and the 365 ema). This could be a reason to give it a miss as well if one is picky and let it close above the whole mess!

Ganesh
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  • #117,026
  • Sep 1, 2012 1:15pm Sep 1, 2012 1:15pm
Quoting HanSolo
Hi Jarroo, thanks for the compliment. Where did you enter the trade? Have you already locked in some profit? I think I will stay out of this pair next week and maybe ride it again on its way down.

So you think its coming down (EurAud) . . .could be . .Its sure is showing signs of Resistance..

Here's some charts on the EurAud and EurNzd . .moving my Stops up along the way.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,027
  • Sep 1, 2012 1:22pm Sep 1, 2012 1:22pm
Quoting Donkey
Support held so I closed the trade for about +0.5R
Nice, D . .you can always get back in it short . . if the Resistance holds . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,028
  • Sep 1, 2012 1:28pm Sep 1, 2012 1:28pm
Quoting Barefoot
So I thought I would take a moment to reflect on my trading since I've been studying J16 and Jaroo methodology.

I have been trading for about 3 years now, some live, but mostly on demo because I've never found that magic indicator (wink) that makes my demo account grow 100%/week. Prior to J16 I never had any consistently positive results, and my positive months were more the result of lucky trades using absurd levels of risk.

I started studying J16 in June and dedicated myself to following James' outline of treating this like a business. In...
That's great Barefoot . .good for you for keeping at it . .

It does take while before things start to "Click" . .when they do, there is no stopping you, my friend. . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,029
  • Sep 1, 2012 1:36pm Sep 1, 2012 1:36pm
Quoting Rosa
Hello Jarroo,

I don't play other TF, just sitting on daily right now, but sometimes I wanto to see bigger picture . So what I see:

1 - monthly
RGR formation which has brokes neckline and neckline was retested,
Trend is down, lower highs - red line
I think that prices will go into my orange box - big area of support

2 - weekly
Trend is down, lower highs - black line
Is there BEOB on last two candles ?

3 - daily
There was two actions HCR, then was CA and then tested like support, now CB and we have test like resistance
There is brokes up-trend,...
What can I say, Rosa . .you built a nice story for going short . . seeing that bigger story sure helps (Thanks Mike).

We'll see if we continue to have Price close below those HCR/LCS levels on the Daily. .. .convincing us that it is now Resistance.




Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,030
  • Sep 1, 2012 1:40pm Sep 1, 2012 1:40pm
Quoting james -1.6
Thanks a lot, jarroo.
I could move my SL. I hide it above PPZ and 2.8900.

Hey James . .I can't find this pair on my feeds . .How's it working out?
Indicators show the past. Price Action "Indicates" the future.
  • #117,031
  • Sep 1, 2012 1:53pm Sep 1, 2012 1:53pm
Quoting Pinbar
EUR/SEK just took at my SL (8.3254) at BE for the last third of the trade.
Actually , it was minus 15 Cents.

That is ok as, I took a lot more than I gave back.

Nice job Steve . . .let's see if these S/L levels hold . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,032
  • Sep 1, 2012 2:03pm Sep 1, 2012 2:03pm
Quoting nwo-trader
Here's a story I'm projecting onto the market right now, however may be proven to be incorrect. Seems like I'm always looking for a lower time frame way to get into a higher time frame move, if that makes sense. :-)
Sorry if these charts take up too much space, this 30 inch Dell monitor has too many damn pixels, lol. I love it though -would definitely recommend.

Looking for this weekly IB and the 1.5750 to continue to hold as support.
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Price is beautiful. A repetitive method is a competitive method.
  • #117,033
  • Sep 1, 2012 2:21pm Sep 1, 2012 2:21pm
Quoting ksganesh100
Hello all,

Interesting situation on the EURGBP weekly chart. (Work full time so that is this only timeframe I think I can watch without dreaming about charts in my sleep!)

Would love to hear others' view about this..

Price has closed above the last HCR. Like this due to the following:

1. Price has broken out of an ascending triangle.
2. Price has taken support at the 38.2 fib retracement.
3. Price looks to have broken a supply trend line.
4. Above BRN .7900

I understand price might run into rough weather around the VBRN .8 (along with...
Hey Ganesh . .nice chart . .

I do use both levels when I draw my HCR/LCS levels because of the damn gaps. That is a good sign that Price has colose above that 1st Weekly HCR level. . .we could be going up.


Getting a Close above the Daily HCR level may provide more confirmation that this up move is real . .

Hope my Daily chart isn't to messy..

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #117,034
  • Sep 1, 2012 2:54pm Sep 1, 2012 2:54pm
Quoting jarroo
Hey Ganesh . .nice chart . .

I do use both levels when I draw my HCR/LCS levels because of the damn gaps. That is a good sign that Price has colose above that 1st Weekly HCR level. . .we could be going up.


Getting a Close above the Daily HCR level may provide more confirmation that this up move is real . .

Hope my Daily chart isn't to messy..

Jim
Hi jarroo,
What does mean damn gaps. What both levels do you use when you draw.
  • #117,035
  • Sep 1, 2012 2:54pm Sep 1, 2012 2:54pm
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Interesting situation. Weekly downtrend can be broken. But,I want to sell on the re-test 1.26321. Maybe should sell at the first touch? What do you think?
  • #117,036
  • Sep 1, 2012 2:57pm Sep 1, 2012 2:57pm
Thanks Jim.

Quoting jarroo
Hey Ganesh . .nice chart . .

I do use both levels when I draw my HCR/LCS levels because of the damn gaps.
Jim
That is a great point! Missed that out in my weekly chart. So, we still do not have PBT&CA confirmation on the weekly as of now.

Quoting jarroo


Hope my Daily chart isn't to messy..
Nope, not at all.

Your chart annotation is very clear and logical.

(Red = daily HCR/LCS levels, Green = weekly levels). I have also seen magenta which i assume is to do with trade management (stops, profit levels).

Ganesh
  • #117,037
  • Sep 1, 2012 4:15pm Sep 1, 2012 4:15pm
Quoting zakariawaiz
Hi jarroo,
What does mean damn gaps. What both levels do you use when you draw.
Hi Zak, I think Jarroo means cases where the weekly open has gapped above or below previous week's close.

The two levels he uses are the weekly open and close.

Hope this helps.

Ganesh
  • #117,038
  • Sep 1, 2012 4:48pm Sep 1, 2012 4:48pm
There are some threads that are good and others that are great! Iwanted to repost the beginning of this thread here and say thanks to all who have made3 it into one of the best in FF.

I wish to say I have taken from it and not given back as I still feel abit unworthy to contribute. but when I am ready I promise to give back as it was given to me.

Quoting james16
PLEASE TAKE THE TIME TO READ THIS ENTIRE FIRST POST SLOWLY AND WITH FOCUS. MANY OF YOU ARE DAUNTED ABOUT TRYING TO READ THIS ENTIRE THREAD. IF YOU WILL READ THIS FIRST POST AND THEN GET INVOLVED WITH THE CURRENT POSTING THE OLD TIMERS CAN GET YOU UP TO SPEED IN SEVERAL WEEKS. FOR THOSE THAT DECIDE TO READ THE WHOLE THING IT WILL CERTAINLY NOT HURT YOU. TAKE YOUR TIME AND ENJOY THE RIDE. IM HERE VIA EMAIL AT ANYTIME.



This thread has changed my life in many many ways and it has changed many others as well if my email inbox is any indication....
Trading Consultants Inc JJG
  • #117,039
  • Sep 1, 2012 5:13pm Sep 1, 2012 5:13pm
Quoting jarroo
Nice job Steve . . .let's see if these S/L levels hold . .
Jim, would you have played the SL like that in a live trade?

Classic J16 management I suppose but, leaves just too much risk on the table for my liking.
  • #117,040
  • Sep 1, 2012 5:41pm Sep 1, 2012 5:41pm
Quoting zakariawaiz
Hi jarroo,
What does mean damn gaps. What both levels do you use when you draw.
Quoting ksganesh100
Hi Zak, I think Jarroo means cases where the weekly open has gapped above or below previous week's close.

The two levels he uses are the weekly open and close.

Hope this helps.

Ganesh

Thanks Ganesh . . I say, "damn gaps!!!" more in jest . . .but they do mess up my Close levels. . . . .It's more of a inside joke to all those gap strategy traders. . . which is a very profitable trading strategy.

I do tend to favor the Friday's Close over the Monday's Open on a particular HCR/LCS level but I've seen that Monday Open work out just fine too.


The colors I use are orangered for Weekly and green for my Daily. I will use magenta for my S/L and targets at times but not always.
Indicators show the past. Price Action "Indicates" the future.
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