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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

  • #117,701
  • Sep 6, 2012 10:13pm Sep 6, 2012 10:13pm
Quoting Donkey
Sure, why not? Seems like a logical placement to me. It's the below the PBT&CA bar, which is normal for me. Sometimes I actually place below the lowest of the previous 2 bars. On this pair it happens to be 100 pips, on others it's usually between 60-85 pips.

For me my initial stop placement is more about having places to reduce my risk. I don't go BE as quickly as many or take partial profits so I like to give a little room for trade to play out. This one gives me 2 spots to reduce risk without going BE. I check charts usually 2 times a day...
and what about situaction when the bar nex to PBT&CA bar is close belowe your level?? you cancel your trade witch some minus?? or you still wait?

THX.

chart:
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  • #117,702
  • Sep 6, 2012 10:38pm Sep 6, 2012 10:38pm
Quoting 0421
and what about situaction when the bar nex to PBT&CA bar is close belowe your level?? you cancel your trade witch some minus?? or you still wait?

THX.

chart:
Exactly, if the daily closes below the HCR/LCS level it means that my level is not currently acting as anticipated and I will manually close for smaller loss.

Will try to put my thought process for this potential trade on chart.
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  • #117,703
  • Sep 6, 2012 10:46pm Sep 6, 2012 10:46pm
Quoting Donkey
Exactly, if the daily closes below the HCR/LCS level it means that my level is not currently acting as anticipated and I will manually close for smaller loss.

Will try to put my thought process for this potential trade on chart.
nice... and thank you.
  • #117,704
  • Sep 6, 2012 10:57pm Sep 6, 2012 10:57pm
Quoting 0421
nice... and thank you.
No problem. That last chart was zoomed in. I should have put in each area I would also give myself option to manually close out. You can see zoomed out that the LCS at 127.83 (which would really be a final target for me) is highly confluenced with 61.8 fib retracement, LCS, and 128 Round number. If I catch this trade, and if it goes in my direction I would be looking to take full profit at that last level and see that level as a potential area to short (at least until price closes above it). Sorry to ramble, but I love looking at charts!!
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  • #117,705
  • Sep 6, 2012 11:02pm Sep 6, 2012 11:02pm
Quoting Donkey
No problem. That last chart was zoomed in. I should have put in each area I would also give myself option to manually close out. You can see zoomed out that the LCS at 127.83 (which would really be a final target for me) is highly confluenced with 61.8 fib retracement, LCS, and 128 Round number. If I catch this trade, and if it goes in my direction I would be looking to take full profit at that last level and see that level as a potential area to short (at least until price closes above it). Sorry to ramble, but I love looking at charts!!
heheh me too thank you. I am very grateful for your help.
  • #117,706
  • Sep 6, 2012 11:28pm Sep 6, 2012 11:28pm
Alot of discussion on the AUD pairs today. My long on AUDUSD got triggered. Chart shows my major trouble areas, profit targets, and my likely first stop movement (red trendline).

Congrats to those that caught the 4H BEOB, it was a beautiful bar.
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  • #117,707
  • Sep 6, 2012 11:29pm Sep 6, 2012 11:29pm
Quoting Donkey
Alot of discussion on the AUD pairs today. My long on AUDUSD got triggered. Chart shows my major trouble areas, profit targets, and my likely first stop movement (red trendline).

Congrats to those that caught the 4H BEOB, it was a beautiful bar.

Ditto, D ..
Indicators show the past. Price Action "Indicates" the future.
  • #117,708
  • Sep 6, 2012 11:32pm Sep 6, 2012 11:32pm
Quoting Donkey
No problem. That last chart was zoomed in. I should have put in each area I would also give myself option to manually close out. You can see zoomed out that the LCS at 127.83 (which would really be a final target for me) is highly confluenced with 61.8 fib retracement, LCS, and 128 Round number. If I catch this trade, and if it goes in my direction I would be looking to take full profit at that last level and see that level as a potential area to short (at least until price closes above it).

Sorry to ramble, but I love looking at charts!!
Especially yours, bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,709
  • Sep 6, 2012 11:43pm Sep 6, 2012 11:43pm
Quoting 0421
and what about situaction when the bar nex to PBT&CA bar is close belowe your level?? you cancel your trade witch some minus?? or you still wait?

THX.

chart:
Quoting Donkey
Exactly, if the daily closes below the HCR/LCS level it means that my level is not currently acting as anticipated and I will manually close for smaller loss.

Will try to put my thought process for this potential trade on chart.
0421, I like you chart 0421. Yes, a Close below that level on your chart would end the trade for me . . The Daily HCR 125.15 may come back in play and be tested.

D, this could be one that you could enter on the Close due to the Space. but there is some levels that may effect it . just thinking out loud.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,710
  • Sep 6, 2012 11:47pm Sep 6, 2012 11:47pm
Quoting mbqb11
We gotta watch that gap area just above us though. I am cautious on that

Sorry can't post charts guys!

Mike

Damn you gaps !!!. . . The Mike Bar is strong .
Indicators show the past. Price Action "Indicates" the future.
  • #117,711
  • Sep 6, 2012 11:55pm Sep 6, 2012 11:55pm
Hey again..
Found this very good looking trade on the GBPUSD coming up soon (highlighted orange box area).. Very nice daily supply level (for those who look at S/D), LCS as well as a quasimodo as highlighted by the little box on far left ( like a head and shoulders) all within this area.. one to keep a look out for I'd say
josh
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nollej is power..
  • #117,712
  • Sep 6, 2012 11:59pm Sep 6, 2012 11:59pm
Quoting Pinbar
Phew, back with a new fiber optic connection at last.

Here are the 4 pairs I was watching with updated info as, I see it after a 3 day gap in the internet.
Nice charts, Steve . .

That EurSek is fun to watch . .we watched the birth of an uptrend from its beginnings . .didn't we . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,713
  • Sep 7, 2012 12:16am Sep 7, 2012 12:16am
Quoting nollej
Hey again..
Found this very good looking trade on the GBPUSD coming up soon (highlighted orange box area).. Very nice daily supply level (for those who look at S/D), LCS as well as a quasimodo as highlighted by the little box on far left ( like a head and shoulders) all within this area.. one to keep a look out for I'd say
josh
Absolutely josh . .it has some good Space to get there too . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,714
  • Sep 7, 2012 12:22am Sep 7, 2012 12:22am
[quote=Donkey;5992027]
Quote
I personally prefer GBPJPY due to more space and the BRN. waiting for price to come back to he highs.

Hi Donkey

I'm watching this pair too and looking to the weekly trend line (resistence) as target....yellow is FTA .
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Nothing personal,just business
  • #117,715
  • Sep 7, 2012 12:28am Sep 7, 2012 12:28am
Quoting fxgroup
Hi Donkey

I'm watching this pair too and looking to the weekly trend line (resistence) as target....yellow is FTA .

I like how the yellow PPZ level was already tested in May.
Indicators show the past. Price Action "Indicates" the future.
  • #117,716
  • Sep 7, 2012 12:41am Sep 7, 2012 12:41am
Quoting Slider20
Sure am. On the lower TF I can see how price is now respecting HCR 2 . I'm not in this one, but I'm watching.

Hey Slider. .I see you saw that Price jumped down to the HCR 2 (Low of the Day) . .it could have gone to HCR 1 and still be in an uptrend. . .just like how I tried to describe in that post.

You'll notice I'll always say, "let's watch this" . . not .."let's trade this." Just like James16 . .we do alot of watching . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #117,717
  • Sep 7, 2012 12:56am Sep 7, 2012 12:56am
Quoting Rosa
Hello,

I have question to all of you . I try to find hcr and lcs levels, but not every level on chart because in this case i will have s/r level on every 20 pips . So first of al i try to find swing, not just 2 candle to place s/r level and go in this way that level play until it die. So I my nzd/usd chart, I have first hcr level in lime line as nice swing. There was next test of this level, but daily candle close below so there was cause to go short. Here is first question, where and why take profit from this trade ?. next this level was...
I like the way you think, Rosa . .nice chart narrative . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,718
  • Sep 7, 2012 1:25am Sep 7, 2012 1:25am
Quoting DaGrizlyBull
Here it is. The red rectangles are the reasons behind the lines. GL
I'm in the process on switching to FXP for the 5PM EST Close like you guys, so go easy on my levels

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Quoting dan89
Well from what i've read, by going through Jarroo's charts, is that he doesnt use so many levels from way back in the past. From what I understand the hcr/lcs levels are fairly recent, and even more recent in a trending market. If you look at his charts you will often see how zoomed in they are, unless looking at the overall big picture as Mike does. Also be aware that as price gathers around levels from the past they start to loose their effectiveness/strength.

...This is just my opinion though from studying Jarroo's posts. It would be a good...
Yes, that's correct guys . .nice chart DGB.

When Price starts trending hard it tends to looks to more recent levels and /or newly formed levels. As it starts to consolidate and Price gathers, the recent levels loose their juice and strong past deep levels tend to gain their strength.
Indicators show the past. Price Action "Indicates" the future.
  • #117,719
  • Sep 7, 2012 1:29am Sep 7, 2012 1:29am
Quoting jarroo
Nice one Hans . . you picked the Low of the Day on the GU . .
Yes, right to the pip. Now all I need is a break through the resistance price is lingering at. I leave my stop at BE.

My trade for today is on the GBPJPY. Like Chanya said it may take off from the bar highs and not the HCRs. But it also may find some resistance at 126.00 and return back to my entry at 125.52 before getting higher.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,720
  • Sep 7, 2012 1:34am Sep 7, 2012 1:34am
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I want to see the close near these levels.
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