james16 Chart Thread | Page 6125 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #122,481
  • Jan 13, 2013 11:44pm Jan 13, 2013 11:44pm
Quoting hally0301
thanks meshka
hey chanya

just wanted to say thanks to you for the work you have done in putting together the pdf helping us to understand better what jarroo's method is. the real beauty of this is that it is easy to pick up and run with, and to actually start trading with (demo to start with of course).

so again thanks for the effort you put in and thanks to jarroo

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,482
  • Jan 14, 2013 12:49am Jan 14, 2013 12:49am
hi guys

just a quick question re jarroo's method. is it mainly for trending markets that the system is designed for or does it work for sideways markets as well.

my thought is that given that in a sideways market there are not new highs and lows being formed so there is no price breakthrough that you could trade the price as it bounces of the HCR or LCS and then trade it as it moves back towards the other side of the consolidation zone.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,483
  • Jan 14, 2013 12:57am Jan 14, 2013 12:57am
just with regards my previous post the attached chart is one i would use as an example of a sideways market. range for top to bottom is about 250 pips so plenty of scope to take some profit.

my thought is to trade as price rejects from the extreme of the ranges and moves back across the zone. bit like how some people trade bollinger bands i guess.

using a stop loss outside the zone by 10-20 pips would keep risk fairly small also.

maybe jarroo or pinbar can give me some clarification on this one.

cheers

hally
Attached Image (click to enlarge)
Click to Enlarge Name: nzdchfd_140113.gif Size: 28 KB
Learning for Earning and Trading for Freedom
  • #122,484
  • Jan 14, 2013 4:58am Jan 14, 2013 4:58am
Can anyone help advise on a take profit level for the Gbp/Chf?

I'm currently in a long and up about 40 pips. I'm currently looking at the 1.495 level as a take profit level but I'm not sure if we're going to make it that high.

Any advice would be appreciated.

Thanks,
Scott


http://scottbprice.com/wp-content/up...013/01/t19.png
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #122,485
  • Jan 14, 2013 5:03am Jan 14, 2013 5:03am
starting to think that maybe the eurusd might be a fake that it is going to the long side. pinbar forming on the daily (although fair while to go yet). pinbar just completed on the 1 hr chart. nothing on 4 hour chart atm.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_140113.gif Size: 26 KB
Click to Enlarge Name: eurusdh1_140113.gif Size: 21 KB
Learning for Earning and Trading for Freedom
  • #122,486
  • Jan 14, 2013 5:11am Jan 14, 2013 5:11am
Quoting livethedream
Can anyone help advise on a take profit level for the Gbp/Chf?

I'm currently in a long and up about 40 pips. I'm currently looking at the 1.495 level as a take profit level but I'm not sure if we're going to make it that high.

Any advice would be appreciated.

Thanks,
Scott


http://scottbprice.com/wp-content/up...013/01/t19.png
hey scott

please understand that i'm just a newb and i'll throw this out there and maybe one of the senior guys will comment.

i see your FTA being the weekly pivot line.

u then have a series of bar closes at around the 1.48 level.

if it goes through there then u are probably looking at the monthly pivot and the 365 ema above that.

trade management is probably not my main strength but maybe you can look to move stop to b/e and then trail it up if it keeps moving, and keep an eye out for some PA that tells you it is turning around to go down again and close out then.

cheers

hally
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf_140113.gif Size: 25 KB
Learning for Earning and Trading for Freedom
  • #122,487
  • Jan 14, 2013 5:33am Jan 14, 2013 5:33am
Quoting hally0301
hey scott

please understand that i'm just a newb and i'll throw this out there and maybe one of the senior guys will comment.

i see your FTA being the weekly pivot line.

u then have a series of bar closes at around the 1.48 level.

if it goes through there then u are probably looking at the monthly pivot and the 365 ema above that.

trade management is probably not my main strength but maybe you can look to move stop to b/e and then trail it up if it keeps moving, and keep an eye out for some PA that tells you it is turning around...
Thanks for the advice Hally. It looks as though the pair hit 1.48 like a brick wall and is shooting right back down. I was looking at the 1.48 bars that you speak of on the bigger picture as the 1.47 point of support, but that goes to show I need to look more closely next time... use the zoom function haha.

Thanks again!
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #122,488
  • Jan 14, 2013 5:52am Jan 14, 2013 5:52am
Quoting livethedream
Thanks for the advice Hally. It looks as though the pair hit 1.48 like a brick wall and is shooting right back down. I was looking at the 1.48 bars that you speak of on the bigger picture as the 1.47 point of support, but that goes to show I need to look more closely next time... use the zoom function haha.

Thanks again!
yeh looks like the 4 hour chart has the beginnings of a pinbar and if you look at the 1 hr chart the last two bars make a pinbar as well.

i think if there is one thing other than price action i have learnt from this thread it is to look for confluence across the different time frames. my first criteria for a trade now is that the weekly, daily and 4 hour charts all need to tell me the same thing about market direction or there is no trade.

i reckon if that gbp/chf breaks down through 1.47 it could head down to 1.45

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,489
  • Jan 14, 2013 5:56am Jan 14, 2013 5:56am
Quoting livethedream
Thanks for the advice Hally. It looks as though the pair hit 1.48 like a brick wall and is shooting right back down. I was looking at the 1.48 bars that you speak of on the bigger picture as the 1.47 point of support, but that goes to show I need to look more closely next time... use the zoom function haha.

Thanks again!
did you close for profit or move to b/e??

hally
Learning for Earning and Trading for Freedom
  • #122,490
  • Jan 14, 2013 6:20am Jan 14, 2013 6:20am
Hello,

Can anyone please explain the big retracement on NZDUSD daily? is the BEOB done?

Thank you





Attached Image (click to enlarge)
Click to Enlarge Name: NZD_01.jpg Size: 123 KB
  • #122,491
  • Jan 14, 2013 6:31am Jan 14, 2013 6:31am
Quoting Jomi
Hello,

Can anyone please explain the big retracement on NZDUSD daily? is the BEOB done?

Thank you





Attachment
Nope, if high isnt broken . Just market is kindly giving us better price to sell it with a smaller risk. I sold it @ 0.8407 stp 0.8477
all is eternal - this is good news for people who loves bad news
  • #122,492
  • Jan 14, 2013 6:36am Jan 14, 2013 6:36am
thank you meshka... getting the shivers here...
  • #122,493
  • Jan 14, 2013 8:35am Jan 14, 2013 8:35am
Quoting Jomi
Hello,

Can anyone please explain the big retracement on NZDUSD daily? is the BEOB done?

Thank you





Attachment
Hey Jomi

As meshka said technically it isn't invalidated until that high is taken out, but it also technically isn't a valid beob until that low breaks as well. I would be careful with this one. I think it's in a lot of traffic. I would have preffered to see it either off the BRN or at least hitting that previous swing high. Selling on the close here is pretty aggressive

Hope everyone had a nice weekend
Mike
  • #122,494
  • Jan 14, 2013 9:10am Jan 14, 2013 9:10am
Quoting Pinbar
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.
Hey Pin, yes you're right, it's like magic, but I try
Sorry for my bad English..
  • #122,495
  • Jan 14, 2013 9:34am Jan 14, 2013 9:34am
Hi guys.

Today I spent some of my free time studying charts from the past, and tried to identify the LCS, HCSR levels. It went okay. But what I couldn't figure out was that after a break through when shall i expect the price to test the formal HCR/LCS? Because in many cases while I was "hypothetically waiting" for the retest, the price ran away with a huge momentum. On the other hand if I say "I buy right after the break through I' m risking much more - there is a retest which is loss, and then only a tiny space is between my SL and the actual price... So any ideas?
It's all psychology...
  • #122,496
  • Jan 14, 2013 2:46pm Jan 14, 2013 2:46pm
Quoting LamerTrader
Hi guys.

Today I spent some of my free time studying charts from the past, and tried to identify the LCS, HCSR levels. It went okay. But what I couldn't figure out was that after a break through when shall i expect the price to test the formal HCR/LCS? Because in many cases while I was "hypothetically waiting" for the retest, the price ran away with a huge momentum. On the other hand if I say "I buy right after the break through I' m risking much more - there is a retest which is loss, and then only a tiny space is between my SL and the actual...
The idea is that you shouldnt beat youself if price ran away without you. If there is no confirmation of the setup let it go. Pure breakout trades ae very risky, and should be confirmed when you have a strong story.
If not up, then down, otherwise sideways :-)
  • #122,497
  • Jan 14, 2013 3:08pm Jan 14, 2013 3:08pm
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?
How did I know that Price would reject from there . .I didn't know. But Price showed me signs that it would . .one being that Price could not Close above it on the Daily the day before.

There were many people here waiting for more signs that Price would reject from this area . .Looking for Price to take out those previous Highs and close below them and/or some nice bearish PA like a Bearish Daily PB to print out. . . .chart.

I know that Price reacts to HCR(/LCS) levels and this HCR was a strong one because it was not only a Daily HCR level but a Weekly HCR too. These Multi TF HCR/LCS levels have shown to be very strong.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: nzdsusd14.jpg Size: 83 KB
Indicators show the past. Price Action "Indicates" the future.
  • #122,498
  • Jan 14, 2013 3:21pm Jan 14, 2013 3:21pm
Quoting hally0301
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


I like that .8300 level Hally . .I don't see any strong bearish PB on the Weekly at a Swing high .
Indicators show the past. Price Action "Indicates" the future.
  • #122,499
  • Jan 14, 2013 3:24pm Jan 14, 2013 3:24pm
Quoting meshka
looks good...would be great to get higher price to selll it :0)
We may get another shot at it, meshka . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,500
  • Jan 14, 2013 3:27pm Jan 14, 2013 3:27pm
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
Thanks for the help Mav13 . . .and Pinbar for the list ..

Jim
Indicators show the past. Price Action "Indicates" the future.
102 traders viewing now