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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

  • #117,521
  • Sep 5, 2012 11:26pm Sep 5, 2012 11:26pm
Quoting gadogado
Hi sir...

Hope it like sir mike trading method...

And it also supported by LCS Daily (a green line). Hope can combine successfully the two great methods.

I like your trendline and your Hourly target . .if Price can't mange to hit that target of yours . .tells me that the down trend is very strong.

Meaning . . if a strong Bullish structure on the Hourly TF . .which I believe you have . .can't go up at all or hit that target. .. look out below.
Indicators show the past. Price Action "Indicates" the future.
  • #117,522
  • Sep 5, 2012 11:35pm Sep 5, 2012 11:35pm
Quoting Donkey
watching audjpy....space to the dwonside. BRN 80 has been broken, but not convincingly.
That's a very strong layered level of Support, D . .that's for sure. No surprise that we are seeing a bounce upward . .The question is . .is the bounce upward short lived and weak. ..for more downward movement.

Closing below those levels with that Space. .look out . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,523
  • Sep 6, 2012 12:06am Sep 6, 2012 12:06am
Quoting jarroo
I like your trendline and your Hourly target . .if Price can't mange to hit that target of yours . .tells me that the down trend is very strong.

Meaning . . if a strong Bullish structure on the Hourly TF . .which I believe you have . .can't go up at all or hit that target. .. look out below.
Yes sir... It always has a chance that this setup can work and can't work. If price doesn't go up to hit my target then drop down so down trend will come in play.

Here my scenario (Hope it similar with sir mike style):

  1. Price reach the FTA or not, then drop down retest BRN or LCS Daily. Price not CB and hopefully can come back to FTA (stoploss move to low of that retest point or LCS daily),if Price CB LCS daily 79.84 (Get out).
  2. Price able to break and close above FTA and retest it will be good thing. (stoploss will move to below FTA) and hopefully price will move up to target.

Attached Image(s) (click to enlarge)
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  • #117,524
  • Sep 6, 2012 12:20am Sep 6, 2012 12:20am
Quoting jarroo
That's a very strong layered level of Support, D . .that's for sure. No surprise that we are seeing a bounce upward . .The question is . .is the bounce upward short lived and weak. ..for more downward movement.

Closing below those levels with that Space. .look out . .
Yes sir... Closing all the level, Stong down term will come...
  • #117,525
  • Sep 6, 2012 12:57am Sep 6, 2012 12:57am
Quoting gadogado
Yes sir... It always has a chance that this setup can work and can't work. If price doesn't go up to hit my target then drop down so down trend will come in play.


Here my scenario (Hope it similar with sir mike style):[list=1][*]Price reach the FTA or not, then drop down retest BRN or LCS Daily. Price not CB and hopefully can come back to FTA (stoploss move to low of that retest point or LCS daily),if Price CB LCS daily 79.84 (Get out).[*]Price able to break and close above FTA and retest it will be good thing. (stoploss will move to below...

Very good charts, gado . . I like those scenarios. .
Indicators show the past. Price Action "Indicates" the future.
  • #117,526
  • Sep 6, 2012 12:58am Sep 6, 2012 12:58am
Quoting jarroo
However . . . Hans and Chanya . .in a strong trending market these minor levels can be very reactive . .

EurNzd ..
Very nice example, Jarroo. Those levels can be blessing or curse.

I saw Mike's evaluation of GBPUSD yesterday. He is a much more experienced and better trader than I am. Plus I am aware of where all the other GBP pairs stand, what the USD index looks like etc. There's a 95 % chance that I get my fingers burned with this one. I know I should not trade something like this, yet, I can't resist and will enter at 1.5881 with a SL right below the PBT bar. I will get out if the 4h closes below my entry level.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,527
  • Sep 6, 2012 1:18am Sep 6, 2012 1:18am
Quoting HanSolo
Very nice example, Jarroo. Those levels can be blessing or curse.

I saw Mike's evaluation of GBPUSD yesterday. He is a much more experienced and better trader than I am. Plus I am aware of where all the other GBP pairs stand, what the USD index looks like etc. There's a 95 % chance that I get my fingers burned with this one. I know I should not trade something like this, yet, I can't resist and will enter at 1.5881 with a SL right below the PBT bar. I will get out if the 4h closes below my entry level.

I like your plan very much . . . .you're trading into some nice Space there . .I like its potential.

You'll start liking them more when you see them work out more . . I believe your fingers are safe, Hans.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,528
  • Sep 6, 2012 1:19am Sep 6, 2012 1:19am
Quoting jarroo
Very good charts, gado . . I like those scenarios. .
Hope work well. Gotta go now...

thanks sir.
  • #117,529
  • Sep 6, 2012 1:20am Sep 6, 2012 1:20am
Quoting gadogado
Hope work well. Gotta go now...

thanks sir.

Its looking strong , gado . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,530
  • Sep 6, 2012 1:33am Sep 6, 2012 1:33am
time to decide JPY!!!
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  • #117,531
  • Sep 6, 2012 1:36am Sep 6, 2012 1:36am
Quoting brzvadeg
time to decide JPY!!!Attachment

Attachment

Attachment
It maybe the time, brzvadeg . .

Very strong compresssion in those consolidations.

They look hotter than a firecracker on the 4th of July . . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,532
  • Sep 6, 2012 1:37am Sep 6, 2012 1:37am
Quoting Chanya
There are still people out there who trades like this and never listens ...

http://www.forexfactory.com/showthre...03#post5988203

...if people can trade successfully with all that stuff on their charts then why does it matter ...
  • #117,533
  • Sep 6, 2012 1:41am Sep 6, 2012 1:41am
Quoting jarroo
It maybe the time, brzvadeg . .

Very strong compresssion in those consolidations.

They look hotter than a firecracker on the 4th of July . . .
But I'm afraid that's the price we still can not give points for entry!?
  • #117,534
  • Sep 6, 2012 1:42am Sep 6, 2012 1:42am
Quoting migmac
but there seems to be a strong weekly resistance at 1.241329, price hit it 4 times
You got a chart migmac

also did you see this post reply to you ?. .



Quoting jarroo
maybe this chart will help . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,535
  • Sep 6, 2012 1:59am Sep 6, 2012 1:59am
Quoting dan89
Hi Jarroo

Not sure if you saw my last question a few days ago but I was just thinking about possible trade management methods for those of us with a 9-5 job. Do yo have any suggestions on how we can manage our trades ? we cant use 1hr/4hr signitures since we wont be at the charts. Any thoughts on setting sl/tp/trade management etc ?

Cheers
Dan
Hey Dan . .these posts are a bit of a taste of what trading afew mintues a Day at the New York Close (5:00PM EST) would be like .

Quoting jarroo
UsdSgd . .Yes that's correct . .That's a Daily Close Confirmation of Resistance . . .meaning that Support level (LCS) has flipped to Resistance.

Let's see how it plays out . .
Quoting jarroo
So 0421 . .How did it work out? Did you watch it?

Looks like there was of a bit draw down but our S/L wasn't hit.

Now the daily has closed above our level . time to get out . S/L was 35 pips and we are out at 2 pips.
Indicators show the past. Price Action "Indicates" the future.
  • #117,536
  • Sep 6, 2012 2:04am Sep 6, 2012 2:04am
Quoting brzvadeg
But I'm afraid that's the price we still can not give points for entry!?
We'll have to wait and see . . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,537
  • Edited 2:21am Sep 6, 2012 2:09am | Edited 2:21am
Here is the current picture of USDX. Which is showing that LCS and Double bottom did not break yet. Lets see!
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Price Is The Best Indicator Itself.
  • #117,538
  • Sep 6, 2012 2:25am Sep 6, 2012 2:25am
Quoting Slider20
Does near term mean nearest in time and not nearest in price? In this case they would be the same anyway but for future reference.

Quoting jarroo
I see what you're saying . .good question. Nearest in time . .HCR 1 is the newest Level . .HCR 2 and HCR 3 were formed in the past. The trend (usually) will begin hitting HCR 1 and continue strong and even ignore HCR 2 and HCR 3 . .if that makes sense.
Quoting jarroo
Sorry about that Slider . .If this pair is trending up it will start to respect the more near term HCR levels that PBT&CA . . like (HCR 1) on my chart. . .

but if its trending up strong it will start testing/respecting (HCR 2) or (HCR 3) and start moving up.

Then it will fool you and retrace all the way back down to (HCR 1) and then start moving up again . .

Jim
Are you watching Slider on the UsdSek?

Notice that S/L could be moved up . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,539
  • Sep 6, 2012 2:26am Sep 6, 2012 2:26am
http://i1171.photobucket.com/albums/...22-24-55CH.png
  • #117,540
  • Sep 6, 2012 2:35am Sep 6, 2012 2:35am
Quoting jarroo
Are you watching Slider on the UsdSek?

Notice that S/L could be moved up . .

That was nice . . and quick . .what timing . .right guys . .
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Indicators show the past. Price Action "Indicates" the future.
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