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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

  • #117,761
  • Sep 7, 2012 8:08am Sep 7, 2012 8:08am
Quoting jarroo
Nice charts, Steve . .

That EurSek is fun to watch . .we watched the birth of an uptrend from its beginnings . .didn't we . .
Yeah, but I kept too tight of an rein on it and it took me out before the run.
Another dimension to think about.
That said, if I had played it according to these levels, I would still have been in the trade. Just goes to show that management is equally as important to the entry, in the long term.
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  • #117,762
  • Sep 7, 2012 8:13am Sep 7, 2012 8:13am
Quoting dan89
I've been studying J16 stuff for a while on this forum but ive never managed to get it to work. For me its just too discretionairy. Simply plotting the correct ppz levels is difficult for me as they seem to be very subjective, im sure im not the only one who feels the same.

Only when I started reading Jarroo's posts and implementing his methodology - hcr/lcs etc - have I began to build confidence in trading.. still got a long way to go and im not consistantly profitable yet but hopefully I will be .. one day.

Cheers
Dan
hey dan, well jaroo`s lcs/hcr levels are in fact ppz levels. They have just another names. Open a line chart and you will understand how to drawn ppz levels correctly, there is nothing subjective about it. And playing breakouts and retests is just one of many styles of "james-trading". Jaroo was just very good on it and bring it simply to perfection.

Try to play all of the beautiful chart pattern of PA and you will love it.
  • #117,763
  • Sep 7, 2012 8:15am Sep 7, 2012 8:15am
Doesn't look like USD/CAD is coming back.
Going to cancel the order as, I don't fancy waiting for a weekend gap to hit the order then take off.
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  • #117,764
  • Sep 7, 2012 8:26am Sep 7, 2012 8:26am
Quoting bullzeye
hey dan, well jaroo`s lcs/hcr levels are in fact ppz levels. They have just another names. Open a line chart and you will understand how to drawn ppz levels correctly, there is nothing subjective about it. And playing breakouts and retests is just one of many styles of "james-trading". Jaroo was just very good on it and bring it simply to perfection.

Try to play all of the beautiful chart pattern of PA and you will love it.
PPZ levels are not subjective ? Im not sure i agree with you on that. If we were to both draw ppz levels on the same pair im sure we wont get the same ones - maybe a few. However, ive noticed that with the hcr/lcs levels that Jarroo posts, I usually have those same levels on my charts.
  • #117,765
  • Sep 7, 2012 8:38am Sep 7, 2012 8:38am
Quoting jarroo
Bamm!! .to the pip! . love it . .get use to it, my friend . .


Nice plan Hans . . I wonder it the News of the NFP came out early . .lol
It's not really like this. It's only "BAM" when it holds. When SL gets hit its "OOPS" .
The only thing that matters is: Are the "BAM"s more often than the "OOPS"?

Edit: I got this also btw. Was nice.
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I don't need easy. I just need possible.
  • #117,766
  • Sep 7, 2012 8:38am Sep 7, 2012 8:38am
Closed the trade (TP at 1.5997) that I was holding on to since yesterday for a +92pip
That BRN 1.6000 is not to mess around with... for now


Quoting MtlTrader
Hello to all,

I have been a member of james16group last year and loved the experience. I have been following this thread for more than 2 years on and off now and would like to thank all of you guys for the incredible help.

I entered a trade at 1.5905 since last daily candle closed above 1.59, thus a PBTCA, the 1.59 being a BRN and the trendline being broken with a close above it as you can see.
BUT, I feel like I am missing something here...

Thanks,
MontrealTrader...
  • #117,767
  • Sep 7, 2012 8:47am Sep 7, 2012 8:47am
Watching gbpusd...could be nice...but this is for Monday
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  • #117,768
  • Sep 7, 2012 8:51am Sep 7, 2012 8:51am
Holding for now - BAMMM would be nice
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  • #117,769
  • Sep 7, 2012 8:55am Sep 7, 2012 8:55am
Quoting Donkey
. Checking trade before work this am, price to FTA, risk reduce per trade plan.
very good D

That gap could have caused issues, blew right through it. Really that's what we want to see with a gap area.

Nice job

Mike
  • #117,770
  • Sep 7, 2012 9:00am Sep 7, 2012 9:00am
Quoting bullzeye
hey dan, well jaroo`s lcs/hcr levels are in fact ppz levels.
Yes, understanding this drove me to the next level..., again, Jarroo, thanks for that

These HCR / LCS little lines are simply purely objective PPZs
Slow & steady
  • #117,771
  • Sep 7, 2012 9:02am Sep 7, 2012 9:02am
Quoting rafstraszek
Holding for now - BAMMM would be nice
on your side with this one
.....
Slow & steady
  • #117,772
  • Sep 7, 2012 9:02am Sep 7, 2012 9:02am
GBP JPY got into this a little while ago after NFP.
Seems like all the JPY pairs have dropped off after NFP, AUD JPY fell off quite a bit compared to AUD USD.
Have now moved the EUR CAD to BE.
Thanks Alex
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  • #117,773
  • Sep 7, 2012 9:05am Sep 7, 2012 9:05am
Quoting rafstraszek
Holding for now - BAMMM would be nice
Good ...

You somewhere in the last two pages asked either you should close a CHF JPY ... My point of view is that CHF JPY and EUR JPY are EXACTLY correlated pair , and EUR JPY have not yet tested its level ... So I have left my order in there ...
Human
  • #117,774
  • Sep 7, 2012 9:07am Sep 7, 2012 9:07am
Out of 11 orders placed last night , only one got activated ... Damn you markets ...
Human
  • #117,775
  • Sep 7, 2012 9:19am Sep 7, 2012 9:19am
Quoting mbqb11
very good D

That gap could have caused issues, blew right through it. Really that's what we want to see with a gap area.

Nice job

Mike
Hi Mike,

Yes, but AUD/SGD is pausing just below the same gap.

Are you suggesting to secure the trade? price might not pass through it??
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Slow & steady
  • #117,776
  • Sep 7, 2012 9:31am Sep 7, 2012 9:31am
Quoting patapouer
Hi Mike,

Yes, but AUD/SGD is pausing just below the same gap.

Are you suggesting to secure the trade? price might not pass through it??
I think I would close now. If price breaks above, it will likely retest the gap and give another opportunity to go long I'm guessing. So I think it's one of those win-win situations if you close.
I don't need easy. I just need possible.
  • #117,777
  • Sep 7, 2012 9:35am Sep 7, 2012 9:35am
Quoting DaGrizlyBull
I think I would close now. If price breaks above, it will likely retest the gap and give another opportunity to go long I'm guessing. So I think it's one of those win-win situations if you close.
OK, thanks, point taken and added to my toolbox: beware of gaps
Slow & steady
  • #117,778
  • Sep 7, 2012 9:41am Sep 7, 2012 9:41am
Quoting DaGrizlyBull
I think I would close now. If price breaks above, it will likely retest the gap and give another opportunity to go long I'm guessing. So I think it's one of those win-win situations if you close.
Yes, generally I even like to take profit just shy of the gap. You often get supply/demand right before and then in the gap area. If price can blow through it as DGB said we should see price retest it just like regular PPZ/S/R type areas.

Gap areas make good targets to trade to, or use those areas to be AWARE price may do something


Best
mike
  • #117,779
  • Sep 7, 2012 9:47am Sep 7, 2012 9:47am
Quoting HanSolo
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.
My GBPJPY entry was hit. I moved my stop to 124.60 which would be nearly a full loss if it gets hit.

GBPUSD took off recently and is approaching my TP at 1.6045.

EDIT: It's friday and I moved my stop on GBPUSD to 1.5912 before the daily closes. I don't want to get caught by some massive sell-off.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,780
  • Sep 7, 2012 9:51am Sep 7, 2012 9:51am
Next week before going to the moon , we will probably come back to test these three levels as they all are weekly and daily levels ... I will be waiting ..
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Human
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