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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

  • #122,501
  • Jan 14, 2013 3:29pm Jan 14, 2013 3:29pm
Quoting jarroo
I like that .8300 level Hally . .I don't see any strong bearish PB on the Weekly at a Swing high .
it is a pretty ordinary pinbar on my charts for last week. close is above open and back up towards middle of the bar but still within 1st eye. maybe different on your charting package.

anyway looks like it headed back up to test 84.3 - 84.5 level without retracing at all.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,502
  • Jan 14, 2013 3:34pm Jan 14, 2013 3:34pm
Quoting hally0301
it is a pretty ordinary pinbar on my charts for last week. close is above open and back up towards middle of the bar but still within 1st eye. maybe different on your charting package.

anyway looks like it headed back up to test 84.3 - 84.5 level without retracing at all.

cheers

hally
Its the same on my charts, hally . .We don't like ordinary PBs, . .we like Extraordinary PBs . . . . .Big in size, at Swing Highs and Lows, and nicely confluenced with other levels or information . .
Indicators show the past. Price Action "Indicates" the future.
  • #122,503
  • Jan 14, 2013 3:38pm Jan 14, 2013 3:38pm
Hi Jarroo,

I read a lot about your method and HCR/LCS, I have already read a pdf resume posted by chania I guess.
But where do you teach your method? At the PF?

I was thinking about to become a PF member, but I dont know very clear how are the lessons there? pdf or videos?? is there like different classes separated by the teacher name for example? How much time each day should I dedicate to the PF??

I´m sorry bother you, it´s just I´m really interested on it, I just didnt get it very clear yet.

Tks a lot.
Vitor.
  • #122,504
  • Jan 14, 2013 3:48pm Jan 14, 2013 3:48pm
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.

You are right on track pipla . . . .here's a chart with more info to consider . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,505
  • Jan 14, 2013 3:49pm Jan 14, 2013 3:49pm
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?

You are more than qualified Meshka . .I've seen your posts/charts . .excellent . . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,506
  • Jan 14, 2013 3:53pm Jan 14, 2013 3:53pm
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?!
There can be many setups on different pairs every day . .just like other PA setups . . .we see PBs and Out Side Bars all the the time. The key is to qualify the best ones to take . . . through where they are located, confluences and story.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,507
  • Edited 4:13pm Jan 14, 2013 4:03pm | Edited 4:13pm
Quoting Pinbar
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.
Yeah I don't see many back then either. . .Price is in that Open Space doing its thing . .

The BRN 95.00 should be interesting and even around RNs. I will look for more near term levels to develop and see how it plays out . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,508
  • Jan 14, 2013 4:04pm Jan 14, 2013 4:04pm
Hey

Jarroo what do you think about this one?
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  • #122,509
  • Jan 14, 2013 4:12pm Jan 14, 2013 4:12pm
Quoting long2339
Hey

Jarroo what do you think about this one?
Hey long . .that's a crazy cross . . . . its right in the middle of consolidation, very choppy market environment.

It does look nice and may work out but be prepared or don't be surprised if its a bumpy ride.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,510
  • Jan 14, 2013 4:21pm Jan 14, 2013 4:21pm
Thanks a lot. Jim

Derek
  • #122,511
  • Jan 14, 2013 4:27pm Jan 14, 2013 4:27pm
Quoting long2339
Thanks a lot. Jim

Derek
The weekly TF tends to clean up these "crazy crosses" and gives a better picture or story what we can look for . .

. .a strong break out and Close Above or Below is what I would be looking for on this one . .(Thanks Mike, mbqb11)


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,512
  • Jan 14, 2013 4:36pm Jan 14, 2013 4:36pm
Quoting Pinbar
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.
ooops . . . sorry about that Steve, I read that wrong.

We may start consolidating here and its still Resistance up there ..if Price can't close above those LCS levels we could be heading back down.
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Indicators show the past. Price Action "Indicates" the future.
  • #122,513
  • Jan 14, 2013 5:14pm Jan 14, 2013 5:14pm
Quoting hally0301
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
Its not a bad way of thinking, hally . . looking at the extremes of the range or Swing points. But instead of using a fixed S/L we like to look for "an event" to happen at these extremes. We can look for PA Formations and/or where Price Close in relation to these extremes to either breakout of these areas or fall back into them.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,514
  • Jan 14, 2013 6:45pm Jan 14, 2013 6:45pm
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...

Do you have a chart?
Indicators show the past. Price Action "Indicates" the future.
  • #122,515
  • Jan 14, 2013 8:01pm Jan 14, 2013 8:01pm
Quoting jarroo
ooops . . . sorry about that Steve, I read that wrong.

We may start consolidating here and its still Resistance up there ..if Price can't close above those LCS levels we could be heading back down.

Yes, sorry about that, my use of sidetracked was not very clear.

Looks interesting and the daily Gap we have may be a hint that, we may see some PA here.
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  • #122,516
  • Jan 14, 2013 8:14pm Jan 14, 2013 8:14pm
Quoting Pinbar
Yes, sorry about that, my use of sidetracked was not very clear.

Looks interesting and the daily Gap we have may be a hint that, we may see some PA here.
I like the confluence up there with the trendline.

That gap was already filled.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #122,517
  • Jan 14, 2013 8:30pm Jan 14, 2013 8:30pm
Quoting jarroo
I like the confluence up there with the trendline.

That gap was already filled.

Jim

Oh yeah.
I am always doing that, thinking the open has to be revisited instead of the close.

That's why I usually don't pay much attention to them.

Thanks Jim
  • #122,518
  • Jan 14, 2013 8:36pm Jan 14, 2013 8:36pm
Quoting Pinbar
Oh yeah.
I am always doing that, thinking the open has to be revisited instead of the close.

That's why I usually don't pay much attention to them.

Thanks Jim


Nice bounce off the Daily LCS . . .


. . damn you gaps!!! .. lol

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #122,519
  • Jan 14, 2013 8:50pm Jan 14, 2013 8:50pm
Quoting jarroo
Nice bounce off the Daily LCS . . .


. . damn you gaps!!! .. lol

Jim
Yeah. LOL

Price is starting to back peddle but, not quite high enough yet.

FF has disabled hyperlinks in signatures so, I had to paste the URL of the PA and Terminology as text.

Sucks
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  • #122,520
  • Jan 14, 2013 8:54pm Jan 14, 2013 8:54pm
Quoting Pinbar
Yeah. LOL

Price is starting to back peddle but, not quite high enough yet.

FF has disabled hyperlinks in signatures so, I had to paste the URL of the PA and Terminology as text.

Sucks


I like to see Price touch the levels . .taste them . .and then close below them on say the Hourly and/or 4 Hour TF. . .giving us confirmation that their still Resistance.
Indicators show the past. Price Action "Indicates" the future.
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