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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

  • #117,341
  • Sep 4, 2012 6:30pm Sep 4, 2012 6:30pm
Quoting jarroo
I should also add . ."or current trend continuation"
There that's better . .


Mike (mbqb11) Bar: is a bar that is large in size that is in a direct relationship to a Price Pattern Breakout, Consolidation Breakout or Price Action Formation that could lead to a structural and/or dynamical shift in the market or current trend continuation .



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,342
  • Sep 4, 2012 6:36pm Sep 4, 2012 6:36pm
Quoting jarroo
There that's better . .


Mike (mbqb11) Bar: is a bar that is large in size that is in a direct relationship to a Price Pattern Breakout, Consolidation Breakout or Price Action Formation that could lead to a structural and/or dynamical shift in the market or current trend continuation .



Jim
can i steal this
  • #117,343
  • Sep 4, 2012 6:39pm Sep 4, 2012 6:39pm
Quoting jarroo
here you go . .
word
  • #117,344
  • Sep 4, 2012 6:39pm Sep 4, 2012 6:39pm
Quoting mbqb11
can i steal this
That's the beauty of the "Mike Bar" . .is not just some random large bar in the market . .there's a story behind it that could lead to many great things . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,345
  • Sep 4, 2012 6:41pm Sep 4, 2012 6:41pm
Not looking very clear, even though we have had two daily closes below.Probably going to be without an internet connection for the next couple of days. Moving again.
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  • #117,346
  • Sep 4, 2012 6:42pm Sep 4, 2012 6:42pm
Quoting DaGrizlyBull
There are far better opportunities out there to take such a high risk low reward setup. Imo...
I ended up knocked out of that one pretty quick. Support didn't hold like I expected and price dropped like a rock. I didn't risk a lot, but I'll probably avoid that situation next time.
  • #117,347
  • Sep 4, 2012 6:45pm Sep 4, 2012 6:45pm
Quoting Pinbar
Not looking very clear, even though we have had two daily closes below.

Quoting asim.iqbal
Did yu nticed that?
I beg to differ about our Cad setup . .it worked out perfectly . .Why? It hit our targets to the pip . .nice. That all we can really expect from a decent setup. . .for it to hit our target(s).
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Indicators show the past. Price Action "Indicates" the future.
  • #117,348
  • Sep 4, 2012 6:47pm Sep 4, 2012 6:47pm
Quoting jarroo
There's a coversation that brzvadeg and I had few pages back where we talked about this . .It mainly has to do with how open the Space is that we are trading iinto ..

Jim
OK! I found it! Somehow i missed it.
Thanks!
Mától én vagyok a Soros!
  • #117,349
  • Sep 4, 2012 6:49pm Sep 4, 2012 6:49pm
Quoting HanSolo
Yes, you're right, Jarroo. I closed my position because of this support level. Betting on a further drop seems to risky and would mean a bigger stop loss to avoid a possible retrace wiping out my SL. Doesn't seem worth it.

Still a very nice trade Hans . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,350
  • Sep 4, 2012 6:55pm Sep 4, 2012 6:55pm
Quoting Gogolak
The situation like this GAP where do you place SL?
OR maybe better just ignore this pair?
Damn you gaps!! . .If its not clear . .take a pass . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,351
  • Sep 4, 2012 6:56pm Sep 4, 2012 6:56pm
Quoting jarroo
I beg to differ about our Cad setup . .it worked out perfectly . .Why? It hit our targets to the pip . .nice. That all we can really expect from a decent setup. . .for it to hit our target(s).
Did you actually take this one Jim?
I suppose that if those TBls broke, it could have run with the trend.
Perhaps, it still could.

Edit: Maybe not, with this daily divergence kicking in.
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  • #117,352
  • Sep 4, 2012 6:57pm Sep 4, 2012 6:57pm
Quoting Pinbar
Did you actually take this one Jim?
I suppose that if those TBls broke, it could have run with the trend.
Perhaps, it still could.

No I didn't take it . .just watching . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,353
  • Sep 4, 2012 7:03pm Sep 4, 2012 7:03pm
Quoting rafstraszek
Is that mean you don't use touch trade any more? Or maybe it depends? If so - how? Or you just show another method - like signatures (and isn't waiting for daily close after retest something like signature on d1?)

thanks for your great work
Quoting Milan
No, I am pretty sure Jarroo showed us only another option how to jump in the market when daily close confirms the new flipped level to be valid and close is very near to this level. In this case you can get in by market order.
Thanks Milan . .I couldn't say it any better . .

Many ways or options . . . to skin a cat.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,354
  • Sep 4, 2012 7:14pm Sep 4, 2012 7:14pm
Quoting nwo-trader
This one has been pretty cool to watch, priced dropped to this old HCR and then retraced exactly to the LCS that it broke out from. Now price has touched the HCR twice and may be headed back up. Still demoing and visually learning the Jaroo material. :-)

Very nice, nwo-trader

I'm sure you noticed that you picked some Highs and Lows of the Day . .oopps, I mean you picked Weekly Highs and Lows . .wait a minute, . . it was Monthly too. . .

Jim .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,355
  • Sep 4, 2012 7:24pm Sep 4, 2012 7:24pm
Quoting jarroo
Thanks Milan . .I couldn't say it any better . .

Many ways or options . . . to skin a cat.

Jim
And which one do you use? Or with experience you get a feel for which to use and when to use it ?
I don't need easy. I just need possible.
  • #117,356
  • Sep 4, 2012 7:37pm Sep 4, 2012 7:37pm
Quoting freeze
Notice how well it worked out along with your PBT method.


That's excellent freeze . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,357
  • Sep 4, 2012 7:43pm Sep 4, 2012 7:43pm
Quoting DaGrizlyBull
And which one do you use? Or with experience you get a feel for which to use and when to use it ?

I will use many different ones on the same setup . . but I do like the Daily Close Confirmation.
Indicators show the past. Price Action "Indicates" the future.
  • #117,358
  • Sep 4, 2012 7:50pm Sep 4, 2012 7:50pm
jarroo,

I'm looking at USDSEK. I see three different levels I could use as HCR. The lowest level has already had PBT&CA, but the other two have not. In cases like this, how do you determine which level you would use?
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  • #117,359
  • Sep 4, 2012 7:57pm Sep 4, 2012 7:57pm
Quoting Slider20
jarroo,

I'm looking at USDSEK. I see three different levels I could use as HCR. The lowest level has already had PBT&CA, but the other two have not. In cases like this, how do you determine which level you would use?

Hey Slider . .you may want to start with this post about the EurSek . .you may have missed the party on this one.

. .also I strongly suggest you get a New York Close feed (5:00PM EST) like FxPro. The NY Close is good because it is in line with the Close of other financial markets . .

Quoting jarroo
Price my also retrace back to this inner HCR level (in purple) in the Consolidation . .not a bad place for a S/L and/or entry.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,360
  • Sep 4, 2012 7:59pm Sep 4, 2012 7:59pm
Quoting Slider20
jarroo,

I'm looking at USDSEK. I see three different levels I could use as HCR. The lowest level has already had PBT&CA, but the other two have not. In cases like this, how do you determine which level you would use?

Oh darn it that's the UsdSek . .sorry . . hang on.
Indicators show the past. Price Action "Indicates" the future.
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