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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

  • #123,281
  • Feb 17, 2013 7:35pm Feb 17, 2013 7:35pm
Quoting tc640
hello i got excited about this pinbar!, but it didnt break and was invalidated.
theres another one forming now.. but i think i will just stay way from it and just watch it
nice tom, this is why I love waiting for a break. But I am VERY conservative as most will tell you. Perhaps too conservative for most

Best
Mike
  • #123,282
  • Feb 17, 2013 8:13pm Feb 17, 2013 8:13pm
Quoting ping-ping
Try to ask mike, he's one of the most kind person to explain all of the chart things you need. Also his explanation is very clear for me. The lesson he gave, makes me more thorough on my chart to see what happens next. And just two days ago i made a recomendation a sell setup on the gold chart. And the whole staff on my office (futures company) look at me with their silly face and said about indicators bla bla and bla. I think they all go home with their clients yelling at them now
  • #123,283
  • Feb 17, 2013 9:02pm Feb 17, 2013 9:02pm
Hi mike and others, I see this as possbily buy entry, even though the price is really in the tight box. but I see the 1.0250 is a very strong support from previous history. Really appreciate for any input.
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  • #123,284
  • Feb 18, 2013 12:25am Feb 18, 2013 12:25am
Hi, all! What will you think about this?
P.S. Mike, I'm reading this post since this month and this thread is great! I have a couple of questions, where is Jim? And others who where very active at the start of this thread? And is this method as actual as it was? Thanks!
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  • #123,285
  • Feb 18, 2013 2:56am Feb 18, 2013 2:56am
Quoting mbqb11
Hey CA

Your PPZs are marked very well> I am not sure why you sold where you did on your chart. Were you looking to trade the pinbar? Why not sell below the pinbar low? then look for the PPZ to break and hold(it pierced right through)

Best
Mike
Thx for your post Mike. I sold on Daily basis, I posted a H4 chart for managing the trade (which is closed by now)

Many thx again
  • #123,286
  • Feb 18, 2013 5:56am Feb 18, 2013 5:56am
Quoting jackforex
Hi, all! What will you think about this?
P.S. Mike, I'm reading this post since this month and this thread is great! I have a couple of questions, where is Jim? And others who where very active at the start of this thread? And is this method as actual as it was? Thanks!
Is the big bullish bar which is engulfing the five 4H candles to the right of it called a bullish engulfing outside bar? or does the engulfing bar has to be on the right side?
  • #123,287
  • Feb 18, 2013 6:32am Feb 18, 2013 6:32am
Quoting danjuma
Thank you most kindly. Just noticed your blog, and currently having a read, seems interesting.

Dan
Hi ghous, had a read of your blog like I said. I notice your method seems similar to Jarroo's, except you use highs/lows as opposed to close, hence your LLS and HHR as opposed to Jarroo's LCS (lowest close of support) and HCR (highest close of resistance). Just wondering why the difference and your thinking behind this? Just trying to understand the reasoning behind these different methods/price action set-ups. Many thanks

Dan
  • #123,288
  • Feb 18, 2013 7:22am Feb 18, 2013 7:22am
Quoting ping-ping
Sorry for a noob question, but where do i get pivot point indicator? How do we use that pivot point?
Hi Ping-Ping,
I attached a pivot point indicator. You will need to input the correct # to match your time zone. If in US time zone, enter 7. Watch the pivots for intraday trading. They can act as turning points as other traders watch them.
Attached File(s)
File Type: mq4 Pivot Points - Daily (Shifted).mq4   11 KB | 577 downloads
  • #123,289
  • Feb 18, 2013 8:08am Feb 18, 2013 8:08am
Quoting danjuma
Hi ghous, had a read of your blog like I said. I notice your method seems similar to Jarroo's, except you use highs/lows as opposed to close, hence your LLS and HHR as opposed to Jarroo's LCS (lowest close of support) and HCR (highest close of resistance). Just wondering why the difference and your thinking behind this? Just trying to understand the reasoning behind these different methods/price action set-ups. Many thanks

Dan

Hey Dan,

To start off, I dont exactly trade like jarroo. Once price breaks through his levels, the most basic entry of his method looks to catch a breakout. On the other hand I am looking to fade swing points or easily put I am looking for reversals at swing points exclusively.

Secondly, jarroo looks at highs and lows as well, just that he considers bar closes to be important also and has devised a method to take entries of these closes. My method has a lot to do with price cascading into stops which are generally stacked beyond highs and lows which is why highs and lows are more important for me. When I started off HCR and LCS levels were still parts of my method too but overtime I realized I could do without them and that they were unnecessarily complicating things for me. Again not to say the HCR and LCS levels dont work, just that the way I trade enables me to not have to use them necessarily.

Let me know if you have more questions.

g.
I believe . . .
  • #123,290
  • Feb 18, 2013 8:19am Feb 18, 2013 8:19am
Quoting 2+2ex
Hy Mike,

EURAUD...possible monthly evening star
4 Hour looks good for entry.
I think we must have a close below 1.2966, the close of the week before...
What`s youre meaning?
Hey 2+2

I wouldn't jump to far to look at a monthly perspective then try to enter on the 4hr. The disconnect b/w the two timeframes is very big and can lead to a lot of issues in my view. For the breakout pattern is already done(the one i showed). Because price came to the base point of the pattern I would now start to redraw my lines to get a view of now what price is doing

Like so


Best
Mike
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  • #123,291
  • Feb 18, 2013 8:24am Feb 18, 2013 8:24am
Quoting aserbfx
qiagen decided to explode north...
You'd like this level Aserb, I sent it to the group

I took the BUOB look at that perfect resistance
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  • #123,292
  • Feb 18, 2013 8:30am Feb 18, 2013 8:30am
Quoting Donaciello
Hi all,

For the last week I've been reading this thread mostly, aswell as watching the charts to see if I could spot something.
Then I came around the GBP/AUD, where I saw price failing to test 1.5 BRN, while printed a buob (with a lower low that shows convergence with MAC/d).
http://s7.postimage.org/81u4j5c0b/GA_Buob_15_2_13.png
So I wondered, has any of you stumbled on this setup?
If so, please share with me your insight on the setup.

Kind regards,
Donaciello.
Hey Donaciello

Hope you are enjoying the thread

Just in case you miss it here is my post on this one

http://www.forexfactory.com/showthre...72#post6452772

Best
Mike
  • #123,293
  • Feb 18, 2013 8:43am Feb 18, 2013 8:43am
Quoting ghous
Hey Dan,

To start off, I dont exactly trade like jarroo. Once price breaks through his levels, the most basic entry of his method looks to catch a breakout. On the other hand I am looking to fade swing points or easily put I am looking for reversals at swing points exclusively.

Secondly, jarroo looks at highs and lows as well, just that he considers bar closes to be important also and has devised a method to take entries of these closes. My method has a lot to do with price cascading into stops which are generally stacked beyond highs and lows...
ghous, thank you very much for your reply, most appreciated.
  • #123,294
  • Feb 18, 2013 8:46am Feb 18, 2013 8:46am
Quoting filipl
Hi Mike/anyone,

You don't see me here to often, usually watching from the sidelines, but today I got a question :-)

GBP/USD D1
I personally have never paid too much attention to lows/highs, just to closes...
Why do you consider these lows important? If I get to understand their "mechanic" it will be easier for me to focus on them and psychology behind them.

Thanks,
Fil.
Hey Fil

I like to pay attention to all information that price can give us. Highs/lows/closes For me they all can be important depending on certain situations. Sometimes a close might have more weight and other times highs and lows carry more weight for me. I just like to utilize the information in the best way possible. For example the low you show was very important to me in confirming up the weekly rising wedge TL. This bounce helped me better see the pattern at hand

Hope you pop of the sidelines more

Mike
  • #123,295
  • Feb 18, 2013 9:27am Feb 18, 2013 9:27am
Hi all,
Awesome thread here! Started reading last week from the begining so far made it to page 44 . I also caught the pin bar eur/usd exited due to the noise. Just my observation looks like a possible break to the upside of the wedge on h4 what are your thoughts?
  • #123,296
  • Feb 18, 2013 9:37am Feb 18, 2013 9:37am
Quoting jackforex
Hi, all! What will you think about this?
P.S. Mike, I'm reading this post since this month and this thread is great! I have a couple of questions, where is Jim? And others who where very active at the start of this thread? And is this method as actual as it was? Thanks!
Hey Jack

I speak with Jim about everyday , he is around but was very busy with his real estate this past year. He is now in the final stages of building our new site and when it is launched he will be back at it once again. Not far from now

Best
Mike
  • #123,297
  • Feb 18, 2013 10:01am Feb 18, 2013 10:01am
Hi Mike,
I´m starting to try to learn a breakout trades. I would like to ask you if you think that the patterns which I draw below are ok or you would draw it by different way?

Thank you very much for your help
Martin
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  • #123,298
  • Edited 11:00am Feb 18, 2013 10:20am | Edited 11:00am
Mike, thanks for your answer! It would be great then! Will wait for this moment. Good Luck this week! And if you want please could you tell me your twitter acc and of other major members here(if there any). Thanks!
Jack

Quoting mbqb11
Hey Jack

I speak with Jim about everyday , he is around but was very busy with his real estate this past year. He is now in the final stages of building our new site and when it is launched he will be back at it once again. Not far from now

Best
Mike
  • #123,299
  • Feb 18, 2013 11:07am Feb 18, 2013 11:07am
Thank you very much for the explanation Mike.
I know i had to learn so much in this business...

Quoting mbqb11
Hey 2+2

I wouldn't jump to far to look at a monthly perspective then try to enter on the 4hr. The disconnect b/w the two timeframes is very big and can lead to a lot of issues in my view. For the breakout pattern is already done(the one i showed). Because price came to the base point of the pattern I would now start to redraw my lines to get a view of now what price is doing

Like so


Best
Mike
lieber aufrecht sterben als kniend leben
  • #123,300
  • Feb 18, 2013 11:57am Feb 18, 2013 11:57am
Mike please excuse my ignorance but I see you said Jim is working on a new site? Is his older 1 the group still active? Again sorry when i have some free time ill jump back several pages. 2 kids and full time job learning time cuts into sleep time.
Thank you
Joe
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