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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

  • #118,101
  • Sep 11, 2012 9:08am Sep 11, 2012 9:08am
Quoting dan89
Hey Jarroo, Sorry im not quite sure what you mean. Do you have a chart to explain it ? Arnt all levels that have been broken and closed below or above untested leves,l since we still have to wait for the retrace ?

Cheers
Dan

chart . .
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Indicators show the past. Price Action "Indicates" the future.
  • #118,102
  • Sep 11, 2012 9:13am Sep 11, 2012 9:13am
Jarroo and Jarrooers a question. All starts of course with an big IF. If it closes over the last HCR. I think it would be a good trade to enter or am I drawing this so as I like it to be. Or is there also a trade when it bounces?
  • #118,103
  • Sep 11, 2012 9:15am Sep 11, 2012 9:15am
Quoting Rosa
OK, but see the charts .
That weekly level wasn't a Daily/Weekly level like the other one. .it can be just that simple ..especially with this pair . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,104
  • Sep 11, 2012 9:17am Sep 11, 2012 9:17am
Quoting jarroo
The birthing process can be a bit messy . .lol . .just kidding, Steve.

Is there a shorting opportunity now on the EurSek?

As, I thought, it was a very small move.

I took the AUD/CHF Got out at the 150.
Hit both its targets nicely.
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  • #118,105
  • Sep 11, 2012 9:17am Sep 11, 2012 9:17am
Quoting annu333
Jarroo and Jarrooers a question. All starts of course with an big IF. If it closes over the last HCR. I think it would be a good trade to enter or am I drawing this so as I like it to be. Or is there also a trade when it bounces?
Got a chart??
Indicators show the past. Price Action "Indicates" the future.
  • #118,106
  • Sep 11, 2012 9:19am Sep 11, 2012 9:19am
Quoting jarroo
chart . .
Hi Jaroo , how trade with untested?
  • #118,107
  • Sep 11, 2012 9:19am Sep 11, 2012 9:19am
Quoting Pinbar
As, I thought, it was a very small move.

I took the AUD/CHF Got out at the 150.
Hit both its targets nicely.
Nice one Steve . .the EurSek had more to do with the strength of the uptrend than with the traffic.
Indicators show the past. Price Action "Indicates" the future.
  • #118,108
  • Sep 11, 2012 9:19am Sep 11, 2012 9:19am
Quoting jarroo
chart . .
If Im understanding this correctly, that would mean all levels are untestested untill a setup has been successful right ? When that big bearish bar broke through thos 2 LCS levels they were both untested levels since price had yet to close and we then need to wait for a retrace. So why pick the top level over the bottom level which looked alot better ?
  • #118,109
  • Sep 11, 2012 9:20am Sep 11, 2012 9:20am
Quoting Nake
Hi Jaroo , how trade with untested?
Wait for Price to Test . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,110
  • Sep 11, 2012 9:23am Sep 11, 2012 9:23am
Quoting dan89
If Im understanding this correctly, that would mean all levels are untestested untill a setup has been successful right ? When that big bearish bar broke through thos 2 LCS levels they were both untested levels since price had yet to close and we then need to wait for a retrace. So why pick the top level over the bottom level which looked alot better ?

Because it was untested . it could have easily shot up to the .9535 untested level too .
Indicators show the past. Price Action "Indicates" the future.
  • #118,111
  • Sep 11, 2012 9:24am Sep 11, 2012 9:24am
Hello,

OK, weekly wasn't, but what about monthly ? Are we going from LCS to HCR, what about this HCR which was PBTca and PBTcb ?


Quoting jarroo
That weekly level wasn't a Daily/Weekly levl like the other one. .it can be just that simple ..especially with this pair . .
  • #118,112
  • Sep 11, 2012 9:27am Sep 11, 2012 9:27am
Quoting jarroo
Nice one Steve . .the EurSek had more to do with the strength of the uptrend than with the traffic.
Thanks Jim

Having only four charts sure teaches us patience.
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  • #118,113
  • Sep 11, 2012 9:30am Sep 11, 2012 9:30am
Hi Jim - how are you?

2 question for you

1. Do you use the line chart to mark HCR/LCS? I find it a little difficult using candles
2. Do you enter on just the retest of the level? Or do you wait for the retest daily candle to close for confirmation before you enter?

Thanks
Vicky
Fall seven times, stand up Eight! #GGMU
  • #118,114
  • Sep 11, 2012 9:30am Sep 11, 2012 9:30am
Quoting Rosa
Hello,

OK, weekly wasn't, but what about monthly ? Are we going from LCS to HCR, what about this HCR which was PBTca and PBTcb ?
Are you posting chart ?..
Indicators show the past. Price Action "Indicates" the future.
  • #118,115
  • Sep 11, 2012 9:32am Sep 11, 2012 9:32am
Quoting vickym
Hi Jim - how are you?

2 question for you

1. Do you use the line chart to mark HCR/LCS? I find it a little difficult using candles
2. Do you enter on just the retest of the level? Or do you wait for the retest daily candle to close for confirmation before you enter?

Thanks
Vicky
1) No, I don't use a line chart . .I use the Close and Open becuase of the damn gaps.

2) Yes, I use both . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,116
  • Sep 11, 2012 9:33am Sep 11, 2012 9:33am
Quoting jarroo
They look great Rosa . .

How awesome was that Monthly setup . . nice. That Monthly level has been tested . .will it still act as Support or has it "been there, done that" and now not hold as Support breaking through down? . .we shall see.

Jim
If the Charting software provides a yearly TF or a decade TF should we check LCS and HCR on those too?

I thought the whole point was the DAILY close (NY close)?? I m confused....Instead of a chart with some lines, we'll get a chart with some free space between the lines.
I don't need easy. I just need possible.
  • #118,117
  • Sep 11, 2012 9:33am Sep 11, 2012 9:33am
Quoting jarroo
Because it was untested . it could have easily shot up to the .9535 untested level too .
Yes but the bottom level was also untested. You mentioned picking levels that have yet to be tested over tested level ...
  • #118,118
  • Sep 11, 2012 9:35am Sep 11, 2012 9:35am
Quoting DaGrizlyBull
If the Charting software provides a yearly TF or a decade TF should we check LCS and HCR on those too?

I thought the whole point was the DAILY close (NY close)?? I m confused....Instead of a chart with some lines, we'll get a chart with some free space between the lines.
I would like to see that yearly and decade chart . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,119
  • Sep 11, 2012 9:36am Sep 11, 2012 9:36am
Quoting jarroo
Got a chart??
In an hour I can post the chart. Right now on my phone.
  • #118,120
  • Sep 11, 2012 9:37am Sep 11, 2012 9:37am
Quoting dan89
Yes but the bottom level was also untested. You mentioned picking levels that have yet to be tested over tested level ...
Yeah, the .9480 was near by so it tested that one too . .I guess the .9535 was to far away and the down trend to strong to test that one.
Indicators show the past. Price Action "Indicates" the future.
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