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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

  • #117,801
  • Sep 7, 2012 9:58am Sep 7, 2012 9:58am
Quoting Chanya
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 ..
Are you thinking its going to the moon on the German news next week?
  • #117,802
  • Sep 7, 2012 10:07am Sep 7, 2012 10:07am
Quoting deltaskelta
Are you thinking its going to the moon on the German news next week?
I don't care about the news ... Just look at the weekly chart and tell me if you see anything stopping it for a while ???
Human
  • #117,803
  • Sep 7, 2012 10:13am Sep 7, 2012 10:13am
Quoting dan89
Thanks, Ive actually read through that thread and those particular posts a while back when I was trying to find a way of drawing ppz correctly. I still find that when people like Mike post their charts with ppz levels they are looking at, I rarley ever have similar ones. I dunno, its just too subjective. Anyone else have the same problem ?
The thing about PPZ's is that they are not exact at all. It should be easy to look at a chart and see where price has bounced off of before, its as easy as finding a trendline by connecting the dots of lows, except these are horizontal.

If you have to look too hard for it, its not there, or its not important enough to note IMO...Just open a chart and draw a line the first place you see, it should jump out at you.

The other thing is, sometimes they are going to be pretty large zones, I usually take a really wide brush in my imaging program and draw a nice thick line like these:
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  • #117,804
  • Sep 7, 2012 10:18am Sep 7, 2012 10:18am
Quoting dan89
Thanks, Ive actually read through that thread and those particular posts a while back when I was trying to find a way of drawing ppz correctly. I still find that when people like Mike post their charts with ppz levels they are looking at, I rarley ever have similar ones. I dunno, its just too subjective. Anyone else have the same problem ?
I can solve your problem with a couple of charts giving you reasonable info if you ask ...
Human
  • #117,805
  • Sep 7, 2012 10:18am Sep 7, 2012 10:18am
Quoting Chanya
I don't care about the news ... Just look at the weekly chart and tell me if you see anything stopping it for a while ???
100ish pips away?
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  • #117,806
  • Sep 7, 2012 10:35am Sep 7, 2012 10:35am
Quoting deltaskelta
The thing about PPZ's is that they are not exact at all. It should be easy to look at a chart and see where price has bounced off of before, its as easy as finding a trendline by connecting the dots of lows, except these are horizontal.

If you have to look too hard for it, its not there, or its not important enough to note IMO...Just open a chart and draw a line the first place you see, it should jump out at you.

The other thing is, sometimes they are going to be pretty large zones, I usually take a really wide brush in my imaging program and...
Thanks for the reply mate. Yeah i understand that these are zones and not exact lines to the pip. The levels I can find are the most blatantly obvious ones which are usually just the tops and bottoms (s/r)
  • #117,807
  • Sep 7, 2012 10:44am Sep 7, 2012 10:44am
Jarroo, Just wanted to get your thoughts on this particular setup. PBT&CA both the HCR and LCS level .. looking for a retrace to the HCR for a long entry ...

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Cheers
Dan
  • #117,808
  • Sep 7, 2012 11:26am Sep 7, 2012 11:26am
Quoting jarroo
If its live account, get out . .if its demo, stay in and see what happens . .
jarroo, I noticed your avatar is a fractal pattern... Does this have any significance to you and your trading?

random question, but I figured it must mean something to you if you made it your avatar...
  • #117,809
  • Sep 7, 2012 11:31am Sep 7, 2012 11:31am
Quoting dan89
Jarroo, Just wanted to get your thoughts on this particular setup. PBT&CA both the HCR and LCS level .. looking for a retrace to the HCR for a long entry ...

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Cheers
Dan
there you go...thats a very nice example of PPZ, well spotted from you

but why you wanna buy on this level??

Finding PPZ levels is a first step before pulling the trigger, next step is wait for PA !!! Confirmation is the "Key-Word" for me.... Anything else is expecting and hoping ...Reaction, not prediction !!!

Do you now what i mean?

But of course they are many styles of trading, i prefer the stress less variant...

Time for a cold beer...


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  • #117,810
  • Sep 7, 2012 12:02pm Sep 7, 2012 12:02pm
Quoting bullzeye
there you go...thats a very nice example of PPZ, well spotted from you

but why you wanna buy on this level??

Finding PPZ levels is a first step before pulling the trigger, next step is wait for PA !!! Confirmation is the "Key-Word" for me.... Anything else is expecting and hoping ...Reaction, not prediction !!!

Do you now what i mean?

But of course they are many styles of trading, i prefer the stress less variant...

Time for a cold beer...


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lol thats why i asked Jarroo for his thoughts on it. Jarroo's method invloves touch trades or daily close confirmation setups. Its slightly different to J16
  • #117,811
  • Sep 7, 2012 12:25pm Sep 7, 2012 12:25pm
hello,

I am searching and searching Jarroo method, but sometimes I don't understand basics . Can you tell why lower lcs level is good, and upper is not good , chart is usd/chf. best, Rosa.
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  • #117,812
  • Sep 7, 2012 12:33pm Sep 7, 2012 12:33pm
Quoting Rosa
hello,

I am searching and searching Jarroo method, but sometimes I don't understand basics . Can you tell why lower lcs level is good, and upper is not good , chart is usd/chf. best, Rosa.
Keeping things simple - we look for shorts when pbt&cb LCS and longs when pbt&ca HCR. Currently price has not yet CLOSED below that first LCS level. When it does we can look for short opportunities. Im still learning this method myself so it would be a good idea to wait for Jarroo himself to reply

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  • #117,813
  • Sep 7, 2012 12:39pm Sep 7, 2012 12:39pm
Hello dan89,

You are right, but you can also trade long from lcs and short from hcr, but I still don't get it, what to watch for confirmation .

I think, that there are 2 ways of trade hcr
1. short, when you are find ranging market
2. long, when you are find uptrend market

and reverse for LCS, but how to determine ranging market and how to confirm. We can watch for close of h1/h4 bar, but i don't belive it, sometimes there is cb and ca and cb and you don't know what to do with it .

Quoting dan89
Keeping things simple - we look for shorts when pbt&cb LCS and longs when pbt&ca HCR. Currently price has not yet CLOSED below that first LCS level. When it does we can look for short opportunities. Im still learning this method myself so it would be a good idea to wait for Jarroo himself to reply

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  • #117,814
  • Sep 7, 2012 12:44pm Sep 7, 2012 12:44pm
Hello,

And one more question on usdchf chart .
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  • #117,815
  • Sep 7, 2012 12:46pm Sep 7, 2012 12:46pm
Quoting Rosa
Hello dan89,

You are right, but you can also trade long from lcs and short from hcr, but I still don't get it, what to watch for confirmation .

I think, that there are 2 ways of trade hcr
1. short, when you are find ranging market
2. long, when you are find uptrend market

and reverse for LCS, but how to determine ranging market and how to confirm. We can watch for close of h1/h4 bar, but i don't belive it, sometimes there is cb and ca and cb and you don't know what to do with it .
Dont worry too much about mixing the levels. Just try to stick to shorts when pbt&cb LCS levels and Longs when pbt&ca HCR levels. Once we can trade that consistantly and successfully we can move further.

Some posts from Jarroo on the subject

Quoting dan89
Do you often take trades long when pbt&ca a LCS level and vice versa ? I was under the impression that we should be looking for shorts when pbt&cb and longs when pbt&ca.
Quoting jarroo
Yes that's correct, dan. But there are situation where the other applies. . .Strong consolidation areas and when in a strong trending market.
Quoting jarroo
Yes, that's correct Dan. . Major Deep swing point and major consolidation areas. . .those great "boxes" that Mike and James16 talk about all the time. More recent swing points are good to look at when price is trending or a low volatility pair.

The GU can be tricky (high volatility pair) . .when the signal is mixed, do what many of the old time traders do . .pass on it . ..

Yes, we usually only take long setups when PBT&CA a HCR level and short setups when PBT&CB a LCS level. But there are other opportunities where we can trade LCS/HCR...
  • #117,816
  • Sep 7, 2012 12:47pm Sep 7, 2012 12:47pm
Quoting bullzeye
there you go...thats a very nice example of PPZ, well spotted from you

but why you wanna buy on this level??

Finding PPZ levels is a first step before pulling the trigger, next step is wait for PA !!! Confirmation is the "Key-Word" for me.... Anything else is expecting and hoping ...Reaction, not prediction !!!

Do you now what i mean?

But of course they are many styles of trading, i prefer the stress less variant...

Time for a cold beer...


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H4 view showing bullish outside bar after price approached and blew through the PPZ.
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  • #117,817
  • Sep 7, 2012 12:49pm Sep 7, 2012 12:49pm
Sure would like to see this close below last week's bar high....
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  • #117,818
  • Sep 7, 2012 12:51pm Sep 7, 2012 12:51pm
Quoting Rosa
Hello,

And one more question on usdchf chart .
Remember that not every single level will be fullfilled. There will be times when, for example, pbt&cb a LCS and does NOT come back to retest that level, instead price just drops without the retest. It doesnt mean that we are wrong its just what the market does.
  • #117,819
  • Sep 7, 2012 1:00pm Sep 7, 2012 1:00pm
Humans tend to need reference points from which to proceed with daily activities of life. In trading it is no different. Jarroo's method is a unique and very effective way of identifying key support and resistance. We use these s/r levels as places to observe price action. When appropriate price action occurs we place a trade. Some may use pivot points, other's trend lines. They are just different points of reference that make it easier for us to process information and act on. Jarroo's method just happens to Kick Ass more that other's.
  • #117,820
  • Sep 7, 2012 1:25pm Sep 7, 2012 1:25pm
Quoting bullzeye
Finding PPZ levels is a first step before pulling the trigger, next step is wait for PA !!! Confirmation is the "Key-Word" for me.... Anything else is expecting and hoping ...Reaction, not prediction !!!
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There you are wrong my friend. Anticipatory trading = Low risk, high reward. Reactionary trading = High risk , low reward.
I don't need easy. I just need possible.
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