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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

  • #118,781
  • Sep 20, 2012 1:41pm Sep 20, 2012 1:41pm
Quoting rafstraszek
Chanya, what do you think about this? I'm not sure about entries on pair, which gave opposite signal recently...
Looks nice ... Specially the stop loss zone ... Lets see how it close today then decide what to do ...

Correlation also confuses me ... I think its best to treat each cross individually rather then combine them for analyses ...

Have a look at H4 with them zones ... See how nice it looks ...
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Human
  • #118,782
  • Sep 20, 2012 1:41pm Sep 20, 2012 1:41pm
Quoting turnip15
Whats happened to RYANMCD these days. he was an interesting read alongside J16 ?

Anyone ?
every Saint has a past. Every Sinner has a Future
  • #118,783
  • Sep 20, 2012 1:42pm Sep 20, 2012 1:42pm
Quoting Winston Reed
Hi Dan. I'm assuming you were long? If you were I see a daily PBT-CA. In this case we wait for price to come back and touch the daily line. We can look for signatures at the touch but looking at h4 and h1 I saw nothing convincing to take a long. Now that PBT-CB the same daily line there were some signatures on the H4 and H1 to go short.
Hi WR, What was convincing was that price had broken and closed above a very valid Daily HCR on the Daily Timeframe. Once that had happened I was looking for a long position at retrace to that daily level. Both H1/h4 chart had multiple failed signitures at that daily level.

Yes price had closed back below the daily hcr and the H1 showed failed signitures for a short, I guess 4H signitures worked out .. if they had not maybe the daily signitures would have etc etc ...

Cheers
Dan
  • #118,784
  • Edited 2:07pm Sep 20, 2012 1:49pm | Edited 2:07pm
Quoting ritesh_fx
Jarroo Sir, Need help with this..

We have PBT and CB then a retracement to LCS which actually closed above.
My Q is :- Was this a valid setup ? If yes would this have been one off loss making trade for there was no chance of BE as bar closed way above.
Plz help in understanding this.

Yes that was a valid setup on the UsdJpy. Ideally, we like the entry at the LCS level once PBT&CB. . .but there are valid early entries when we have multi bar Highs or Lows, (Lows in this case) when they are infront of our HCR/LCS levels. BRNs, RNs are also valid early entries as an example.

In the case of this UsdJpy, these 2 Bar Lows were an easy entry short. The Yen pairs love their Daily Highs and Lows . .especailly when its trending strong.
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Indicators show the past. Price Action "Indicates" the future.
  • #118,785
  • Sep 20, 2012 1:54pm Sep 20, 2012 1:54pm
Quoting Donkey
Hey dan, not jarroo, but I thought I would give some thoughts (most are on the charts) about how I might play the setup you mentioned (I took a loss on a similar set up a few weeks ago). First question I would ask, is what was your entry and what was your stop? Did you take a full Risk loss?

Jarroo's been talking about Daily Close Confirmations, and it may not be a bad idea not to drop time frames to look for entry signatures....
Hi mate, My entry was at the HCR as Jarroo teaches. I did not take a full risk loss, but it was a quick loss/failed trade - H1 signitures failing at the Daily HCR. As far as Im aware signitures are not an entry method (Close confirmations are) they are a way of observing on a lower TF whether that level will hold or not.

Yeah, the HCR was not a HUGE deep swing point but it was a nice, clean and very obvious swing - and as a result a very valid swing point to use as a HCR level. We have seen many charts posted where minor swings are used as well as major swings.

Yeah I could use DCC's as a different entry method instead of playing the levels - as thats what there for, but observing the close of price in relation to the daily levels on lower timeframes is also a very valid way of trading this method, and is one that I prefer over close confirmations .... unless CC's are more accurate/higher success rate, then I might switch to this entry method.

Cheers
Dan
  • #118,786
  • Sep 20, 2012 2:03pm Sep 20, 2012 2:03pm
Quoting dan89
Hi WR, What was convincing was that price had broken and closed above a very valid Daily HCR on the Daily Timeframe. Once that had happened I was looking for a long position at retrace to that daily level. Both H1/h4 chart had multiple failed signitures at that daily level.

Yes price had closed back below the daily hcr and the H1 showed failed signitures for a short, I guess 4H signitures worked out .. if they had not maybe the daily signitures would have etc etc ...

Cheers
Dan

Hey Dan . .Winston had a great post there . .here is my Eur/Aud chart and also my Euro chart . . very similar situation . .

Do these make sense to you at all?
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Indicators show the past. Price Action "Indicates" the future.
  • #118,787
  • Sep 20, 2012 2:05pm Sep 20, 2012 2:05pm
Quoting jarroo
Classic . .nice one Rust . .
i have come across just the best ever thing in forex. this thread is the thing for me. i have taken out all systems, templates, indicators and signal indicators. my charts are clean with just MA. however, i'd like a ketner channel with settings as james16 but i cant find any.

anyone with one i could set as james suggest kindly help out. thank you.

keep up the good job guys.

as for Jaroo.. man.. you have opened my mind and eyes to a whole new world of viewing resistance and support. thank you. maybe some day should send you guys a present. LOL. thanks
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #118,788
  • Sep 20, 2012 2:19pm Sep 20, 2012 2:19pm
Quoting Libra
i have come across just the best ever thing in forex. this thread is the thing for me. i have taken out all systems, templates, indicators and signal indicators. my charts are clean with just MA. however, i'd like a ketner channel with settings as james16 but i cant find any.

anyone with one i could set as james suggest kindly help out. thank you.

keep up the good job guys.

as for Jaroo.. man.. you have opened my mind and eyes to a whole new world of viewing resistance and support. thank you. maybe some day should send you guys a present....
yeahh well done buddy, RAW Price Action without BLING BLING is the ultimate way to trade

P.S. you can throw out the MA`s as well
  • #118,789
  • Sep 20, 2012 2:19pm Sep 20, 2012 2:19pm
Quoting turnip15
Anyone ?

Indicators show the past. Price Action "Indicates" the future.
  • #118,790
  • Sep 20, 2012 2:21pm Sep 20, 2012 2:21pm
Quoting Libra
i have come across just the best ever thing in forex. this thread is the thing for me. i have taken out all systems, templates, indicators and signal indicators. my charts are clean with just MA. however, i'd like a ketner channel with settings as james16 but i cant find any.

anyone with one i could set as james suggest kindly help out. thank you.

keep up the good job guys.

as for Jaroo.. man.. you have opened my mind and eyes to a whole new world of viewing resistance and support. thank you. maybe some day should send you guys a present....

Thanks Libra . .its the best way to go . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,791
  • Sep 20, 2012 2:23pm Sep 20, 2012 2:23pm
Quoting jarroo
Hey Dan . .Winston had a great post there . .here is my Eur/Aud chart and also my Euro chart . . very similar situation . .

Do these make sense to you at all?
Hi Jarroo, thanks for the charts. Yep these charts make sense to me, and I fully understand the DCC and taking trades in the opposite direction. I was observing price on on EA when the daily closed back below the HCR and was thinking about a short trade. I didnt take it because I simply wasnt around. But it was still a failed trade/loss as the H1 signitures at the Daily levels failed when price retraced up to the HCR. I can always look at a chart afterwards and say .. well H1 signitures did not work, but the H4 did. Or if not the H4 then the daily signiture, if not the the signitures then the DCC. Im not sure what's wrong with taking tades at daily levels with H1/H4 signitures - unless they are proven to be less sucessfull then Close Confirmations, but I was under the impression that signitures (in particular H1's) were common trait of sucessfull trades/setups.

Cheers
Dan

Cheers
Dan
  • #118,792
  • Sep 20, 2012 2:24pm Sep 20, 2012 2:24pm
Quoting Winston Reed
Here is my H4 chart with some notes.

Nice Winston . .that small 4 Hour PB was a 4 Hour Close Confirmation of Resistance or a 4 Hour Signature. .
Indicators show the past. Price Action "Indicates" the future.
  • #118,793
  • Edited 2:50pm Sep 20, 2012 2:33pm | Edited 2:50pm
Quoting dan89
Hi Jarroo, thanks for the charts.


Signitures (in particular H1's) were common trait of sucessfull trades/setups.


Cheers
Dan
Yes that's correct Dan . .about Hourly Signatures.

Crazy Crosses (pairs other than the Usd pairs) tend to favor the 4 Hour Signatures. . .due to their choppiness on the lower time frames. .

. . .but the Hourly Signature on any pair . .crazy cross or not . . can still be a great indication of whether to stay in the trade or bail.

You're doing it right, Dan. .you're going through the same frustrations and successes as we all do . .

Keep at it, my friend . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #118,794
  • Sep 20, 2012 2:48pm Sep 20, 2012 2:48pm
Quoting jarroo
Yes that's correct Dan . .about Hourly Signatures.

Crazy Crosses (pairs other than the Usd pairs) tend to favor the 4 Hour Signatures. . .due to their choppiness on the lower time frames. .

. . .but the Hourly Signature on any pair . .crazy cross or not . . can still be a great indication of whether to stay in the trade or bail.

You're doing right, Dan. .you're going through the same frustrations and successes as we all do . .

Keep at it, my friend . .

Jim
Hi Jarroo. Well, yeah I've been going through these frustrations for around 3 years now trying to trade J16, and more recently your method ... would of expected some degree of success by now but I've gone absolutely nowhere in that time.

So could you advice me on which TF signitures to use for different pairs in order to keep me focued ? 1HR sigs on USD pairs and 4HR sigs on non USD pairs when trading from daily levels. ...
  • #118,795
  • Sep 20, 2012 2:52pm Sep 20, 2012 2:52pm
Hello,

You are talking about aud/usd and eur/usd but take a look at nzd/usd, in my view there was daily and weekly hcr, which was today tested (I am in) and now you see daily bar. I think, that there will be no big change in current price till this candle close in 70 minutes in alpari nz - my broker, so what do you think about this candle - pin and engulf or outside bar ? I am fresh in bar patters so please help.
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  • #118,796
  • Edited 3:06pm Sep 20, 2012 2:54pm | Edited 3:06pm
Quoting dan89
Hi Jarroo. Well, yeah I've been going through these frustrations for around 3 years now trying to trade J16, and more recently your method ... would of expected some degree of success by now but I've gone absolutely nowhere in that time.

So could you advice me on which TF signitures to use for different pairs in order to keep me focued ? 1HR sigs on USD pairs and 4HR sigs on non USD pairs when trading from daily levels. ...

Yes that's good way to do it or PA setups only on the lower time frames . . .also just wait for Daily Close Cofirmations then enter.
Indicators show the past. Price Action "Indicates" the future.
  • #118,797
  • Sep 20, 2012 3:11pm Sep 20, 2012 3:11pm
Quoting Rosa
Hello,

You are talking about aud/usd and eur/usd but take a look at nzd/usd, in my view there was daily and weekly hcr, which was today tested (I am in) and now you see daily bar. I think, that there will be no big change in current price till this candle close in 70 minutes in alpari nz - my broker, so what do you think about this candle - pin and engulf or outside bar ? I am fresh in bar patters so please help.

Classic Resistance to Support when PBT&CA . .Rosa.

Daily looks to close as a pinnish looking BUOB . .enough to keep you in your entry . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,798
  • Sep 20, 2012 3:13pm Sep 20, 2012 3:13pm
Quoting jarroo
Yes that's good way to do it or PA setups only on the lower time frames . . .also just wait for Daily Close Cofirmations then enter.
I dont really like PA setups because they are subjective to a certain degree.... which pinbar to take which to leave etc etc.

Im trying to decide which entry method to use and which one is more accurate. What is your advice. Traditional touch trades from the levels or DCC.
  • #118,799
  • Sep 20, 2012 3:18pm Sep 20, 2012 3:18pm
Quoting Libra
i have come across just the best ever thing in forex. this thread is the thing for me. i have taken out all systems, templates, indicators and signal indicators. my charts are clean with just MA. however, i'd like a ketner channel with settings as james16 but i cant find any.

anyone with one i could set as james suggest kindly help out. thank you.

keep up the good job guys.

as for Jaroo.. man.. you have opened my mind and eyes to a whole new world of viewing resistance and support. thank you. maybe some day should send you guys a present. LOL....
Attached Keltner for mt4...enjoy
Attached File(s)
File Type: mq4 Keltner_Channel.mq4   3 KB | 471 downloads
  • #118,800
  • Edited 4:55pm Sep 20, 2012 3:25pm | Edited 4:55pm
Quoting Rosa
Hello,

You are talking about a.....
blahblah about eu
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