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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

  • #117,641
  • Sep 6, 2012 2:08pm Sep 6, 2012 2:08pm
Quoting DaGrizlyBull
You have a point there, lets wait for the experts advice
Yup lets wait for Jarroo to answer
  • #117,642
  • Sep 6, 2012 2:10pm Sep 6, 2012 2:10pm
Quoting Rosa
Hey all,

Next my chart on aud/usd now, see chart and please some comments , best Rosa.
Yeah i was just about to post this trade that I took for advice from Jarroo. Hopefully when he's back online he will be able to have a look at it
  • #117,643
  • Sep 6, 2012 2:16pm Sep 6, 2012 2:16pm
Quoting DaGrizlyBull

Do you have any stats regarding the % of BEs you have? Or is it top secret stuff ?

Cheers!
Alot ... If for example I take 5-6 trades per day , atleast two go BE ...
Human
  • #117,644
  • Sep 6, 2012 2:18pm Sep 6, 2012 2:18pm
Quoting Chanya
Chart below ... Haven't you red the PDF ??? It might not be cool but it at least provides basics such as these ...
I think it is cool In fact you should consider adding Apple logo to it
  • #117,645
  • Sep 6, 2012 2:43pm Sep 6, 2012 2:43pm
Chanya thanks your pdf was of great help to me. Thanks also of course to Jarroo & Mike, James 16 & so many on this thread.
  • #117,646
  • Sep 6, 2012 3:08pm Sep 6, 2012 3:08pm
Hello,

My trades, don't know if they are good taken . best, Rosa.
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  • #117,647
  • Sep 6, 2012 4:11pm Sep 6, 2012 4:11pm
Quoting jarroo
I forgot about the S/L placement . it could be these two . .




Jim
So what did you guys think of this one . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,648
  • Sep 6, 2012 4:15pm Sep 6, 2012 4:15pm
Quoting jarroo
So what did you guys think of this one . .

It did hit its 1st targets . .Previous Daily High.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,649
  • Sep 6, 2012 4:23pm Sep 6, 2012 4:23pm
Quoting jarroo
It did hit its 1st targets . .Previous Daily High.
The question is now . .since PBT&CA this LCS level(s ). .will it now return to and act as Support?

Let's follow and find out . .

What can we look for to confirm this level as Support?
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Indicators show the past. Price Action "Indicates" the future.
  • #117,650
  • Sep 6, 2012 4:28pm Sep 6, 2012 4:28pm
Quoting Johan N
Jarroo, you never sleep?
You are always here Appreciated!

I try to Jonan . .I don't sleep . .just a series of naps .
Indicators show the past. Price Action "Indicates" the future.
  • #117,651
  • Sep 6, 2012 4:31pm Sep 6, 2012 4:31pm
We would need a pullback to the 0.7977-7981 area with a close above that area for a nice setup


Quoting jarroo
The question is now . .since PBT&CA this LCS level(s ). .will it now return to and act as Support?

Let's follow and find out . .

What can we look for to confirm this level as Support?
  • #117,652
  • Edited 4:34pm Sep 6, 2012 4:32pm | Edited 4:34pm
Quoting jarroo
The question is now . .since PBT&CA this LCS level(s ). .will it now return to and act as Support?

Let's follow and find out . .

What can we look for to confirm this level as Support?
Jim, I asked you about nzdusd earlier yesterday...it looked OK at the time - but it absolutely flew away.

in demo-land I almost took a full bar loss, but caught it just in time..

It happens, I guess - but i didn't see any opportunity to get to break even (here-in lies the problem, working during the day only a few chances to look at charts).

I had my stop at the 1st level - which got almost obliterated all of a sudden...

i can see what you mean, now that resistance has been rejected - we'll look to see if it is a potential support.

How would have you played that one today?

Cheers...

PS: 0.79668 - maybe OK as support - but as opposed to a touch trade, maybe give it time to see if it 'acts' as support? (if that makes sense)
  • #117,653
  • Sep 6, 2012 4:42pm Sep 6, 2012 4:42pm
I dunno if this one has been covered.

But been looking at this one ... GBPUSD

A convincing break above 1.58929 ... to go long, we'd be looking at a retest of this level - with stops at 1.58339 ?

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There is some 'confluence' in the sense that the 200 EMA is now suggesting that the 'bulls' are in charge?

Target: Initially: 1.6000

I am learning as i go here guys, not sure if my thought processes are clear - please advise?

Cheers, Sandro
  • #117,654
  • Sep 6, 2012 4:46pm Sep 6, 2012 4:46pm
Quoting S_Ferrer
Jim, I asked you about nzdusd earlier yesterday...it looked OK at the time - but it absolutely flew away.

in demo-land I almost took a full bar loss, but caught it just in time..

It happens, I guess - but i didn't see any opportunity to get to break even (here-in lies the problem, working during the day only a few chances to look at charts).

I had my stop at the 1st level - which got almost obliterated all of a sudden...

i can see what you mean, now that resistance has been rejected - we'll look to see if it is a potential support.

How...
Well I can watch my chart more often and remember I want to see price smash through those targets especailly the 1st one. Once I saw Price respecting that Daily High as Resistance . .red flags start to fly . .and I'll reduce my risk.

From a Daily perspective, if this downward trend was going to continue down it would have continued from our entry levels. So Holding on to our S/L until the Daily close was not a bad decision . .so this would be an example of a full position loss.


If you were to set and forget it for the Day . .I would recommend putting limit orders on the targets . no matter how close you think they are.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,655
  • Sep 6, 2012 4:46pm Sep 6, 2012 4:46pm
Hey Jarroo, Just wondering what your opinion is on that AU trade today ?

Cheers
Dan
  • #117,656
  • Sep 6, 2012 4:56pm Sep 6, 2012 4:56pm
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.

Nice one Hans . . you picked the Low of the Day on the GU . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,657
  • Sep 6, 2012 5:01pm Sep 6, 2012 5:01pm
Quoting jarroo

If you were to set and forget it for the Day . .I would recommend putting limit orders on the targets . no matter how close you think they are.
it's absolutely something I'll look to do. thanks again...
  • #117,658
  • Sep 6, 2012 5:09pm Sep 6, 2012 5:09pm
Quoting jarroo
Sorry for my little rant, brzvadeg . .I didn't mean to direct it to you.


Check this level on the EurCad , 1.2414. .something to watch .
I should have mention the LCS level (1.2380) on this one too , brzvadeg .

anyways . .it was just something to watch . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,659
  • Sep 6, 2012 5:21pm Sep 6, 2012 5:21pm
Quoting gadogado
Hope work well. Gotta go now...

thanks sir.
Looking good gado . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,660
  • Sep 6, 2012 5:23pm Sep 6, 2012 5:23pm
Quoting deltaskelta
quick question that I've seen alluded to but cannot find any solid posts on it...

Do you ever open multiple trades with the same currency? For example its looking like I want to get long on the Aussie pretty much across the board, but I know this can't be a good idea...

Do you usually pick the best one? the top two? How do you deal with this situation?
bump^^^ anyone?
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