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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

  • #119,261
  • Sep 29, 2012 9:01am Sep 29, 2012 9:01am
Quoting Thierry
Hi Jarroo, are these touches all valid short trades, till PBT& CA?

Absolutely correct, Thierry. . . and if Price gets up there again . . I'll Bam it again
Indicators show the past. Price Action "Indicates" the future.
  • #119,262
  • Sep 29, 2012 9:09am Sep 29, 2012 9:09am
Quoting Thierry
Jarroo,

Can you explain if i did something wrong here? I went long at the HCR after the bar that broke through and closed above.
On H1 TF we can see price never hit the daily targets if we went long at the retest of the HCR (it hit the targets before the hit of the HCR).

The only reasons for me that this trade was more risky, is because the levels were already tested in the past, agree with that?

Quick answer is that I don't see the HCR level on your chart . .Price is in the middle of this market and trading PBT&CAorB we would be looking for more a PPZ type HCR/LCS level . .we can talk about it more in the webinar today.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #119,263
  • Sep 29, 2012 9:20am Sep 29, 2012 9:20am
Quoting jarroo
Quick answer is that I don't see the HCR level on your chart . .Price is in the middle of this market and trading PBT&CAorB we would be looking for more a PPZ type HCR/LCS level . .we can talk about it more in the webinar today.

Jim
Hi Jim,
How could i connect to your webinar?
Mától én vagyok a Soros!
  • #119,264
  • Sep 29, 2012 9:25am Sep 29, 2012 9:25am
Quoting Gogolak
Hi Jim,
How could i connect to your webinar?
Sorry Gogolak . .the webinar is only for J16 Group members . .Thierry is a member of the group that's why I mentioned it.


I am working on doing a free webinar for those interested from this Thread. I will let people know when that is available.
Indicators show the past. Price Action "Indicates" the future.
  • #119,265
  • Sep 29, 2012 9:59am Sep 29, 2012 9:59am
So Mike, here are my thoughts on this AUD/SGD PA.

1.) Decent Sized Bar that engulfs the two previous bars.
2.) Closes below the trendline
3.) Closed below the LCS and outside of the small box
4.) With the weekly trend.
5.) Over 30 pips to the FTA
6.) Not alot of Traffic and has some space.

Tradeable? What do you think

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  • #119,266
  • Sep 29, 2012 10:07am Sep 29, 2012 10:07am
Quoting jsvihla
Guys, can anybody give me a link to a pivot point indicator that automatically calculates daily, weekly and monthly pivot points for you? I cannot trade without it and I believe that there is a link to it SOMEWHERE in this thread but it is like searching for a needle in a haystack!

Massive thanks!
Hi,

Have a look at this page,

http://www.forexfactory.com/showthre...3047&page=last

Glynn
"Fail to prepare, prepare to fail."
  • #119,267
  • Sep 29, 2012 10:21am Sep 29, 2012 10:21am
Quoting jarroo
Quick answer is that I don't see the HCR level on your chart . .Price is in the middle of this market and trading PBT&CAorB we would be looking for more a PPZ type HCR/LCS level . .we can talk about it more in the webinar today.

Jim
Hi Jim,

Thanks, and you are right. I need to learn to draw better levels. Also more the swing points and not every single bar high etc.

I am not a member of the J16 group, is there another Thierry maybe?
I am thinking to join the group.
  • #119,268
  • Sep 29, 2012 1:31pm Sep 29, 2012 1:31pm
Quoting Thierry
Hi Jim,

Thanks, and you are right. I need to learn to draw better levels. Also more the swing points and not every single bar high etc.

I am not a member of the J16 group, is there another Thierry maybe?
I am thinking to join the group.
lol . .Yes,there is . .I thought it was you . . .sorry..
Indicators show the past. Price Action "Indicates" the future.
  • #119,269
  • Sep 29, 2012 2:48pm Sep 29, 2012 2:48pm
Quoting jarroo
Sorry Gogolak . .the webinar is only for J16 Group members . .Thierry is a member of the group that's why I mentioned it.


I am working on doing a free webinar for those interested from this Thread. I will let people know when that is available.
i will wait for this free webinar i hope it will be soon
Investing is SIMPLE but NOT EASY
  • #119,270
  • Sep 29, 2012 3:47pm Sep 29, 2012 3:47pm
Quoting Moly_Cam5
i will wait for this free webinar i hope it will be soon
Yep, I am waiting for it aswell. Looking forward to seeing it.
"Fail to prepare, prepare to fail."
  • #119,271
  • Edited Sep 30, 2012 7:51am Sep 29, 2012 5:57pm | Edited Sep 30, 2012 7:51am
Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back ( often used to denote the first time back to an EMA)
RT= retest
WIPG= Where is price going
(This is an exercise designed by J16, in working out where the initial push of any given PA setup is likely to stall at, before it even breaks. In other words the FTA)
WDPG= Where did price go ( This is the conclusion of WIPG)

Jarroo's Methodology Terminology
------------------------------------ --------------
PBT&CA= price breaks through & closes above
PBT&CB= price breaks through & closes below

LCS= lowest close of support
HCR=highest close of resistance
SFP = Swing Failure Pattern
DCC= Daily Close Confirmation

Daily Close Confirmation of Support or Daily Close Confirmation of Resistance is an indication by the Daily Close to confirm that Support level has flipped to Resistance and vise vie .

------------------------------------ -------------

Price Action Setups & The Round Number Indicator

Note that, the short horizontal line on the PA chart, is the entry point which is usually a 10-15 pip buffer on a daily chart.
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  • #119,272
  • Sep 29, 2012 6:00pm Sep 29, 2012 6:00pm
Jarroo, if you want to add a couple of charts to the Terminology list, please post them and I will attach them to the revised list.
  • #119,273
  • Sep 29, 2012 6:19pm Sep 29, 2012 6:19pm
Quoting jsvihla
Guys, can anybody give me a link to a pivot point indicator that automatically calculates daily, weekly and monthly pivot points for you? I cannot trade without it and I believe that there is a link to it SOMEWHERE in this thread but it is like searching for a needle in a haystack!

Massive thanks!

I think you would be much better off, reading the first couple of hundred pages of this thread and, learn to draw PPZ (Price Pivot Points) than using an indicator to draw pivots.
PPZ are often confused with floor trader pivots but, they are not the same thing. Learning to identify these areas of former resistance and support, will train your eye to see when and where these areas flip from Support to Resistance and visa vie.
Using a pivot indicator for new people, will only cloud their vision of what price is actually doing.

Good luck
  • #119,274
  • Sep 29, 2012 8:01pm Sep 29, 2012 8:01pm
Quoting slade1986
Nice looking BEOB on this stock. Engulfing the 5 previous weeks. Any Comments?
bit late going through my stock charts

I like the beob size but confluence wise it's a bit lacking. For this reason be very aware of your trouble areas when game planning. Here is what I see


Best
Mike
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  • #119,275
  • Sep 29, 2012 8:03pm Sep 29, 2012 8:03pm
Quoting nwo-trader
The weekly pinbar looks pretty good too. Would have been better location off of the 650 area though.
Big size bar, not a ton of confluence so mostly would be playing the momentum of the bar. I am not a huge fan of the gapping in these markets but watch out for that underside of the box just as you marked off. Also want to see that left eye hold reasonably well

Best
Mike
  • #119,276
  • Sep 29, 2012 8:05pm Sep 29, 2012 8:05pm
Quoting faheem999
Hi,
I can't say I'am new here... yet after digging in the thread several times, I could not find a post that tells me what to do... as a strategy!

I learned many things regarding trading daily vs. smaller time frame, psychology... but whenever I try to follow traders post I get lost in abbreviations and "known to other concepts"

If there is a post that describe the method and list the abbreviation meaning, please point me to it.

I paid james16 site a vist, but could not view the material in the guest area!

thanks for your needed...
Hey Faheem

This is not so much a strategy as it is a string of concepts that must be learned both individually then learned to blend together into a method. This thread is big so it is tough to follow but the best to do is follow through the first few hundred pages and pay specific attention to James16 posts

The guest videos are all up and working so my recommendation is to try a different browser as sometimes these computer machines we use can be silly like that. And dont forget to ask questions as you go

Best of luck
Mike
  • #119,277
  • Sep 29, 2012 8:07pm Sep 29, 2012 8:07pm
Quoting jsvihla
Guys, can anybody give me a link to a pivot point indicator that automatically calculates daily, weekly and monthly pivot points for you? I cannot trade without it and I believe that there is a link to it SOMEWHERE in this thread but it is like searching for a needle in a haystack!

Massive thanks!
Hey J

I believe this is what you are looking for

http://www.forexfactory.com/attachme...02010%207:56pm

Best
Mike
  • #119,278
  • Sep 29, 2012 8:23pm Sep 29, 2012 8:23pm
Quoting 5.25
Hi Mav

Definitely stay out of the market if you don't feel comfortable with the setup. With some basic understanding of order flow and market participants the PBs you highlighted can become just as valid. Defo stick with the basics as outlined by the seniors here.



Hi J trader, same as above. I traded pretty much all of these with a 100% strike rate with a descent RR. Welcome to the thread.
hi 5.25,

I don't know what currency pair you are quoting here. But for me the spot FX market doesn't have reliable volume information, so basically we can't have something called "order flow". I really want to know what you mean by using that term.

100% strike rate is impossible unless your R:R is very very low. With 80% winning strike rate and average RR>=1, you would already have been a very very talented trader.

Just my 2-cent.
  • #119,279
  • Sep 29, 2012 8:41pm Sep 29, 2012 8:41pm
Hey Mike, thank's for the video scan and sharing your JCP chart. I'll work on finding more of a story behind my PA. Also, was there a way to load the TOS charts faster. I don't know if you made another video explaining this and remember you saying something about opening up a second chart. Right now I have only one chat linked to the quotes in marketwatch. Any help would be great!

Thanks
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  • #119,280
  • Edited 10:53pm Sep 29, 2012 9:42pm | Edited 10:53pm
Got a 10 day vacation from university.
I was just setting up the monthly Levels on my live account &, after I finished, I came across an old Bemac chart based on ICCE.
This bemac chart and Jarroo's Monthly & weekly levels, were set up with absolutely no reference to each other.
Yet, take a look at the similarities. They both show us obvious HCR & LCS.

The point of this post is not to get anyone interested in ICCE, I personally find it a little too subjective in choosing the area for the box on the daily TF.
My point is that, the Levels that Jarroo is showing us how to use, often are Fibonacci extensions of consolidation by their nature and thus, very powerful. Actually Bemac mentioned the HCR & LCS that ICCE often projects & Swami also dropped a large hint of the same nature.
This has been a Bee in my bonnet, ever since.
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