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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

  • #122,201
  • Jan 8, 2013 9:21am Jan 8, 2013 9:21am
Quoting meshka
be careful soon your trendline will be broken down
Yeah this makes more sense to me as well. It's a 4th touch already. Last time market failed to make a new high. Could be a sign on reversal. Pin is pretty small on top.
  • #122,202
  • Edited 11:44am Jan 8, 2013 9:38am | Edited 11:44am
Quoting chuongio
i don't understand, can you speak about it ? thanks
have to go now... will write later. check my recent EURUSD charts - of course it is only my vision ... my illusion I am living in lol ... market allways has its own.
all is eternal - this is good news for people who loves bad news
  • #122,203
  • Jan 8, 2013 9:54am Jan 8, 2013 9:54am
Quoting Rust
First trade for the year:

UPDATE : And first loss
Hi Rust...this is how I see the USDCAD : the price is stuck within range market with monthly pin bar at support. The price get back above the 0.9850 (very important level) and now is retesting it . I'm wacthing it and I am prepared to make some money management at the parity level (very important for this pair ) and with the range market's resistence as final target .....just mine !
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Nothing personal,just business
  • #122,204
  • Jan 8, 2013 10:14am Jan 8, 2013 10:14am
Do not touch this time frame !

Just look and work out !

Chart patterns are direct manifestation of market psychology in price terms !

Refer page 1.

Regards

v
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  • #122,205
  • Jan 8, 2013 10:21am Jan 8, 2013 10:21am
Quoting long2339
Many thanks.
see what happens with these small bars running into trouble? They can be tempting especially when learning, but man they are a headache if you aren't quick.

Mike
  • #122,206
  • Jan 8, 2013 10:29am Jan 8, 2013 10:29am
Quoting meshka
Yes it is interesting... As I understood we have exact scenario in cable now?
bingo
  • #122,207
  • Jan 8, 2013 10:43am Jan 8, 2013 10:43am
Quoting keroro0o0o
1st trade of the year

see chart

Attachment
Hey K

Did you see my chart on gbp/aud?

It's very similar situation in my eyes

http://www.forexfactory.com/showthre...74#post6345074

Best
Mike
  • #122,208
  • Jan 8, 2013 12:03pm Jan 8, 2013 12:03pm
Quoting mbqb11
bingo
Yes Mike, huge bearish move against small bull pin bar is a trouble.
  • #122,209
  • Jan 8, 2013 12:42pm Jan 8, 2013 12:42pm
Quoting chuongio
i don't understand, can you speak about it ? thanks
Its so simple - look at charts... if You play poker: say You have 66 small pair in the middle of large field tournament and You face two large oversized bets before You... would You bet with such cards? Yes if You loose and aggressive No if You want to get to the final table lol just because You must pay too much to see the cards on the table in that case.

so in trading things are the same - You must choose spots to play setups carefully. sometimes small pin in right place has huge potential. but You must know Your charts. just like in poker - You must read the table and your opponents ..lol - sometimes to go all-in with sixes is perfect play too
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all is eternal - this is good news for people who loves bad news
  • #122,210
  • Jan 8, 2013 1:01pm Jan 8, 2013 1:01pm
Quoting keroro0o0o
1st trade of the year

see chart

Attachment
You should pay a lot of attention to pinbar closures...look at my attachment...very nice ppz with round number just above the pinbar...I'd love to see situation like I drew...


I like gbpaud - if we could get today's close below my ppz (there are daily and weekly lcs)...we would have decent beob breaking out from trendline and denying the bullish pinbar...
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  • #122,211
  • Jan 8, 2013 1:25pm Jan 8, 2013 1:25pm
Quoting meshka
Its so simple - look at charts... if You play poker: say You have 66 small pair in the middle of large field tournament and You face two large oversized bets before You... would You bet with such cards? Yes if You loose and aggressive No if You want to get to the final table lol just because You must pay too much to see the cards on the table in that case.

so in trading things are the same - You must choose spots to play setups carefully. sometimes small pin in right place has huge potential. but You must know Your charts. just like...
That was superb, been busy with other pairs didn't see that one coming. It worked nicely against a Daily HCR on 1,2524 (FXPro feed) with only a 3 pip drawdown and a 15 minute signature Jarroo style, great trade.
  • #122,212
  • Jan 8, 2013 2:45pm Jan 8, 2013 2:45pm
Quoting meshka
Its so simple - look at charts... if You play poker: say You have 66 small pair in the middle of large field tournament and You face two large oversized bets before You... would You bet with such cards? Yes if You loose and aggressive No if You want to get to the final table lol just because You must pay too much to see the cards on the table in that case.

so in trading things are the same - You must choose spots to play setups carefully. sometimes small pin in right place has huge potential. but You must know Your charts. just like...
Well, unlike in texas holdem - forex will always check you bluff So you always must have odds in you favor! Don't play with nothing!

Are you still playing? I stopped some time ago...year or so...but recently I often think to play some hands...But don't have much time now...
  • #122,213
  • Jan 8, 2013 2:59pm Jan 8, 2013 2:59pm
just for fun...when I have few free hours on weekend or in the evening... dont have much time too... it is like scalping, u need to sit down for days before Your screen ...
all is eternal - this is good news for people who loves bad news
  • #122,214
  • Jan 8, 2013 3:41pm Jan 8, 2013 3:41pm
Quoting meshka
just for fun...when I have few free hours on weekend or in the evening... dont have much time too... it is like scalping, u need to sit down for days before Your screen ...
Yep, I know what you mean, I remember spending hours every day...8 tables and go ...It was like going to job xD With no weekends ;D
  • #122,215
  • Jan 8, 2013 3:43pm Jan 8, 2013 3:43pm
Quoting rafstraszek
Yep, I know what you mean, I remember spending hours every day...8 tables and go ...It was like going to job xD With no weekends ;D
i remember these days as well LOL
  • #122,216
  • Edited 6:26pm Jan 8, 2013 5:40pm | Edited 6:26pm
Quoting LamerTrader
Hey pinbar!

Nice trade gotta admit, but may I have a question? From what signs did you know it's going to be an A+ trade? Because as far as I can see from your charts you sold before it was PBTCB.
Well, it was a weekly setup, the weekly had already broken through this area and closed below it.
The Daily candle failed to close above this area and was confirmation, the area had flipped from support to resistance.

EDIT: The SL took me out of the last portion of the position.
Still did not hit it's target yet though.
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  • #122,217
  • Jan 8, 2013 6:58pm Jan 8, 2013 6:58pm
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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  • #122,218
  • Jan 8, 2013 7:02pm Jan 8, 2013 7:02pm
Quoting meshka
Its so simple - look at charts... if You play poker: say You have 66 small pair in the middle of large field tournament and You face two large oversized bets before You... would You bet with such cards? Yes if You loose and aggressive No if You want to get to the final table lol just because You must pay too much to see the cards on the table in that case.

so in trading things are the same - You must choose spots to play setups carefully. sometimes small pin in right place has huge potential. but You must know Your charts. just like...
Hi Meshka,

Your analysis makes alot of sense. Perhaps i pulled the trigger to hastily. Well, now that I'm in, let's see what happens.

Thanks alot for sharing your insights.

cheers.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #122,219
  • Jan 8, 2013 7:03pm Jan 8, 2013 7:03pm
Quoting mbqb11
Hey K

Did you see my chart on gbp/aud?

It's very similar situation in my eyes

http://www.forexfactory.com/showthre...74#post6345074

Best
Mike
Didn't notice the similarity. ouch...

Now that i look at it, I feel that I paid too much attention on the bar shape compared to the overall story of the chart.

Gotta plant this to my brain "story, story story, then only shape & size". >.<

thanks mike.

Cheers.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #122,220
  • Jan 8, 2013 7:04pm Jan 8, 2013 7:04pm
Hmmm. I was just trying to update my signature with the J16 terminology and the newest PA chart.
However, it seems that FF has now disabled the function to allow html links in signatures.
The old signature link still works but, I now have no way of updating the original post as, it is not possible to edit a post from so long ago.

Does Mike have any suggestions?
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