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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

  • #122,461
  • Edited 3:51am Jan 13, 2013 3:40am | Edited 3:51am
Hey Jarroo! Can you explain me one thing? How did I know that price wanted to reject HCR level and go down but not to break it through? Where could I set sell order in this case?
Sorry for my bad English..
  • #122,462
  • Jan 13, 2013 4:02am Jan 13, 2013 4:02am
Quoting jarroo
Bam Baby!! . . .
hey jim

if i had to pick what might happen with this weekly pinbar it would be something like this. i'm looking at some PA to give me some confirmation to go back in long at about 83.

of course it could do something completely different!!

hally
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Learning for Earning and Trading for Freedom
  • #122,463
  • Jan 13, 2013 7:40am Jan 13, 2013 7:40am
Quoting jarroo
Bam Baby!! . . .
looks good...would be great to get higher price to selll it :0)
all is eternal - this is good news for people who loves bad news
  • #122,464
  • Jan 13, 2013 10:39am Jan 13, 2013 10:39am
wdc on weekly. approaching the resistance-area. volume on the rise in the last weeks. will see a weekly close above for long or sfp for short-entry.
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meine augen sind die sterne
  • #122,465
  • Jan 13, 2013 11:22am Jan 13, 2013 11:22am
two more interesting charts for the next week: trv and tmo. both on weekly.
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meine augen sind die sterne
  • #122,466
  • Jan 13, 2013 11:49am Jan 13, 2013 11:49am
I have been reading this thread a bit and I have to say I am intrigued with this method. I am guessing LCS is (Lower close support) and HCR is (Higher close Resistance) is this correct? I understand buob and beob bullish and bearish outside bars. Is there a list of these here somewhere that I could get myself aquainted with? Like PBR and the others? I am actually going to try and follow this thread as I have been studying Techanical analysis for about 3 years and I am to the point in my own analysis that I use price action, S&R, and TL's. Glad I am here and I believe this thread can help me get to where I want to be as a trader. My thanks to Jarroo, mbqb11, PinBar, and others for taking the time to share here.
  • #122,467
  • Jan 13, 2013 1:32pm Jan 13, 2013 1:32pm
Quoting kgibson5
I have been reading this thread a bit and I have to say I am intrigued with this method. I am guessing LCS is (Lower close support) and HCR is (Higher close Resistance) is this correct? I understand buob and beob bullish and bearish outside bars. Is there a list of these here somewhere that I could get myself aquainted with? Like PBR and the others? I am actually going to try and follow this thread as I have been studying Techanical analysis for about 3 years and I am to the point in my own analysis that I use price action, S&R, and TL's. Glad I...
Hi kgibson5, welcome to the thread.
Pinbar made a useful list of terminology, here is link
http://www.forexfactory.com/showthre...=1#post6054503
  • #122,468
  • Jan 13, 2013 1:40pm Jan 13, 2013 1:40pm
Thanks Mav13 looking forward to diving into this and following along.

Quoting Mav13
Hi kgibson5, welcome to the thread.
Pinbar made a useful list of terminology, here is link
http://www.forexfactory.com/showthre...=1#post6054503
  • #122,469
  • Jan 13, 2013 3:03pm Jan 13, 2013 3:03pm
I'm just reading up on Jarroo's method. Can Jarroo or anyone else who knows the method well confirm if this would have been a valid trade? I just want to make sure I'm on the right track.
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  • #122,470
  • Jan 13, 2013 3:49pm Jan 13, 2013 3:49pm
Quoting pip_la
I'm just reading up on Jarroo's method. Can Jarroo or anyone else who knows the method well confirm if this would have been a valid trade? I just want to make sure I'm on the right track.
dont know if I qualified enough to represent it , but ...in my view... yes its valid and you must take some profit already or lock with stp loss some pips at least around the level of these previous candles highs on the left cause they are your first targets.

amazing simple incredible method to take highs/ or lows of the day isnt it?
all is eternal - this is good news for people who loves bad news
  • #122,471
  • Jan 13, 2013 3:59pm Jan 13, 2013 3:59pm
Quoting meshka
dont know if I qualified enough to represent it , but ...in my view... yes its valid and you must take some profit already or lock with stp loss some pips at least around the level of these previous candles highs on the left cause they are your first targets.

amazing simple incredible method to take highs/ or lows of the day isnt it?
Thanks for the feedback.

I've been doing some visual backtesting and if I'm understanding the basic concept - yes, looks great. I've been going back through Jarroos charts and if I'm honest, I'm not understanding a few of them, but as I say, I've just started looking into the method.

I read the PDF document produced by Chanya over the weekend (That's great by the way, so much easier than going through this thread again ). One thing I'm not so sure about though is Chanya saying he/she sees 2-8 of these set ups per day?! Is that right?!
  • #122,472
  • Jan 13, 2013 4:13pm Jan 13, 2013 4:13pm
Quoting pip_la
Thanks for the feedback.

I've been doing some visual backtesting and if I'm understanding the basic concept - yes, looks great. I've been going back through Jarroos charts and if I'm honest, I'm not understanding a few of them, but as I say, I've just started looking into the method.

I read the PDF document produced by Chanya over the weekend (That's great by the way, so much easier than going through this thread again ). One thing I'm not so sure about though is Chanya saying he/she sees 2-8 of these set ups per day?! Is that right?!
Hi pip-la

Can you post the link to the PDF document please

thanks

hally
Learning for Earning and Trading for Freedom
  • #122,473
  • Jan 13, 2013 4:17pm Jan 13, 2013 4:17pm
Could you post the link to Chanya's .pdf so I can study it? Thanks

Quoting pip_la
Thanks for the feedback.

I've been doing some visual backtesting and if I'm understanding the basic concept - yes, looks great. I've been going back through Jarroos charts and if I'm honest, I'm not understanding a few of them, but as I say, I've just started looking into the method.

I read the PDF document produced by Chanya over the weekend (That's great by the way, so much easier than going through this thread again ). One thing I'm not so sure about though is Chanya saying he/she sees 2-8 of these set ups per day?! Is that right?!
  • #122,474
  • Jan 13, 2013 4:46pm Jan 13, 2013 4:46pm
Quoting kgibson5
Could you post the link to Chanya's .pdf so I can study it? Thanks
http://www.forexfactory.com/attachme...mentid=1114305
all is eternal - this is good news for people who loves bad news
  • #122,475
  • Jan 13, 2013 4:52pm Jan 13, 2013 4:52pm
Thank you Meshka
Quoting meshka
http://www.forexfactory.com/attachme...mentid=1114305
  • #122,476
  • Jan 13, 2013 5:00pm Jan 13, 2013 5:00pm
Quoting meshka
http://www.forexfactory.com/attachme...mentid=1114305
thanks meshka
Learning for Earning and Trading for Freedom
  • #122,477
  • Jan 13, 2013 7:07pm Jan 13, 2013 7:07pm
Quoting jarroo
Bam Baby!! . . .
Yeah, I saw the Weekly HCR and thought it would pullback.
However, that weekly PB close was sitting right on the previous HCR, and going straight into the PPZ.
Actually just where it bounced.

I hear you with that HCR though.
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  • #122,478
  • Jan 13, 2013 7:16pm Jan 13, 2013 7:16pm
Quoting jarroo
I like those Monthly levels Steve . .we'll keep an eye on them . .

Any line ups with them on the Weekly or Daily? . .meaning are they lining up with any Weekly or Daily HCR/LCS levels.

Jim

Not really lining up with a weekly or daily level though.
Well, there is a daily level back in January 6th 2008, not too major.
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  • #122,479
  • Jan 13, 2013 7:20pm Jan 13, 2013 7:20pm
Quoting NortT
Hey Jarroo! Can you explain me one thing? How did I know that price wanted to reject HCR level and go down but not to break it through? Where could I set sell order in this case?

Yeah, your post reminds me of how, I used to think about Jarroo's ability to call where price would reverse, a few years ago.

It seems like magic doesn't it? It is not magic though, but psychology and having a map.
  • #122,480
  • Jan 13, 2013 10:14pm Jan 13, 2013 10:14pm
Quoting jarroo
Hey Steve . .yeah, you had every right to be sidetracked with that BUOB. Many times what breaks these confirmed levels of S/R (Resistance in the case) is strong PA. If that Weekly BUOB had Closed above those Support levels (LCSs) on Weekly or even the Daily, I would had been right with you. A 4 Hour Close Above may have given an early jump if it Closed above both Weekly LCSs.

We'll keep an eye on these levels . .we may start consolidating between them . .

Interesting where Price Closed for the week . .right on that Weekly LCS level . .

Jim...

Just re read you post, Jim and, I may have caused you some misunderstanding of what I was saying.

Actually, I did not say "I got sidetracked" I said, "It got sidetracked" meaning price lost its way in the bullish movement because, of the failure of that BUEOB to close above the LCS above it and, I was wondering if this BUEOB was actually going to fail.
It may not as it has yet to have its back broken.


We were saying the same thing.
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