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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

  • #123,741
  • Mar 13, 2013 5:08am Mar 13, 2013 5:08am
Quoting Pinbar
Sorry, my wife wanted me to show her something on the web.

Yes, the H4 bar just closed below it but, I only saw an M5 IB and no hourly or M30 or even M15 PA.
Sure blame the wife. . .lol . .


It hasn't touched it yet . .Notice how it reacted on 3-08-13 on the 4 Hour . .nice. .
Indicators show the past. Price Action "Indicates" the future.
  • #123,742
  • Mar 13, 2013 5:13am Mar 13, 2013 5:13am
Quoting jarroo
Sure blame the wife. . .lol . .


It hasn't touched it yet . .Notice how it reacted on 3-08-13 on the 4 Hour . .nice. .


Yeah, blame the wife! Ha
Actually she wanted to see a car I am thinking of buying but, complained about the color.

Yeah, it was to the pip.
  • #123,743
  • Mar 13, 2013 5:16am Mar 13, 2013 5:16am
Quoting Pinbar
Yeah, blame the wife! Ha
Actually she wanted to see a car I am thinking of buying but, complained about the color.

Yeah, it was to the pip.
Not on my Fxx Pro feed Weekly level, 1.5376 . .High so far on the Gbpcad is 1.5374
Indicators show the past. Price Action "Indicates" the future.
  • #123,744
  • Mar 13, 2013 5:18am Mar 13, 2013 5:18am
Quoting jarroo
Not on my Fxx Pro feed Weekly level, 1.5376 . .High so far on the Gbpcad is 1.5374

Yeah, I meant it was almost to the pip on the March 08.
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  • #123,745
  • Mar 13, 2013 5:21am Mar 13, 2013 5:21am
Quoting Pinbar
Yeah, I meant it was almost to the pip on the March 08.
Oh Yes . .Bam Baby . . . .2 pip draw down.
Indicators show the past. Price Action "Indicates" the future.
  • #123,746
  • Mar 13, 2013 5:40am Mar 13, 2013 5:40am
Quoting JumanJi
Thanks Mike/Hyperion for the reply.

Mike I have attached another chart below with resistance trend line drawn. Is it that the pinbar or any sort of PA should be below trend line.

Appreciate your help
Thought I would add some comments with a Jarroo flavor . . ..which is part of that trend line (bigger story) you have on your chart.

If you know me, when I go down to a lower TF, like the 4 Hour. I will bring the Daily (and Weekly) levels with me.

Looking at the Daily HCR levels we can see that PBT&CA them on the Daily prior to your 4 Hour PB. .also notice that Price closed above that trend line you drew too. The 4 Hour PB was sitting on a Support level that was previous Resistance.

That's a long entry for me off a Support level and a bigger story break out.

Not sure if you can see that . .

Jim
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #123,747
  • Mar 13, 2013 5:48am Mar 13, 2013 5:48am
So Jarroo, when you have a PBT&CA and you wait for a retrace, do you have already a pending order at the previous HCR level or do you wait for lower timeframes bar closes and take a trade only if nothing closes back below?what if price touches the level but shoots back up and closes well above?do you just miss that specific trade?
  • #123,748
  • Mar 13, 2013 6:01am Mar 13, 2013 6:01am
Quoting dervel
So Jarroo, when you have a PBT&CA and you wait for a retrace, do you have already a pending order at the previous HCR level or do you wait for lower timeframes bar closes and take a trade only if nothing closes back below?what if price touches the level but shoots back up and closes well above?do you just miss that specific trade?
I don't take as many limit orders on a retrace unless the level that PBT&CAorB is heavily confluenced.

" . . do you wait for lower time frames bar closes and take a trade only if nothing closes back below" . .Yes I call these "Bullish or Bearish Signatures". what you have described is a Bullish Signature on say the Hourly TF. I prefer that addition confirmation on a Lower TF instead of a "Touch Trade" again depending on the situation.

" . .what if price touches the level but shoots back up and closes well above?do you just miss that specific trade?" It depend how far it bounces away.. lol ..I may still take it on the Close or wait for it to retrace again if its really far away.

Here's an example of Hourly bullish Signatures on the GbpCad at the 1.5246 . .see if there is any 30min or 15 min Signatures there too . . . .How about any 5min or even 1min Signatures . .
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Indicators show the past. Price Action "Indicates" the future.
  • #123,749
  • Mar 13, 2013 6:07am Mar 13, 2013 6:07am
Quoting Pinbar

On the GBP/CAD, It looks like a strong level but, I am going to keep an eye on the weekly level also.
15min PB off a Weekly level (1.5376) . . . Pinbar . .:
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Indicators show the past. Price Action "Indicates" the future.
  • #123,750
  • Mar 13, 2013 6:12am Mar 13, 2013 6:12am
Thanks for the reply Jarroo.Really helpfull valuable info for a newbie!
  • #123,751
  • Mar 13, 2013 6:13am Mar 13, 2013 6:13am
Quoting jarroo
15min PB off a Weekly level (1.5376) . . . Pinbar . .:
A beauty of an example of higher TF Levels on small tfs, Jim.

You are indeed the unequivocal, master of these LCS HCS levels.

I was watching it on M1, it reminded me of the J16 live webinar I was lucky to get an invite to.
  • #123,752
  • Mar 13, 2013 6:23am Mar 13, 2013 6:23am
Quoting dervel
Thanks for the reply Jarroo.Really helpfull valuable info for a newbie!
Sure thing dervel . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,753
  • Mar 13, 2013 6:30am Mar 13, 2013 6:30am
Quoting Pinbar
A beauty of an example of higher TF Levels on small tfs, Jim.

You are indeed the unequivocal, master of these LCS HCS levels.

I was watching it on M1, it reminded me of the J16 live webinar I was lucky to get an invite to.
Thanks Steve , . .

You're good at them too . .but I still see that you going too far back when you look for them . .wait a minute ..let put it this way . .what made this Weekly level a good one? It was way in the past? . .the answer is SPACE . There was open Space between this level and current Price. You know how to pick them Steve. . . just try and keep them more near term and open space between them.

The current level on the GbpCad maybe short lived . .that's OK . .because if PBT&CA there's a good chance it will act as Support . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,754
  • Mar 13, 2013 6:33am Mar 13, 2013 6:33am
Got to go for now

Later,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,755
  • Edited 6:44am Mar 13, 2013 6:33am | Edited 6:44am
Quoting jarroo
Thanks Steve , . .

You're good at them too . .but I still see that you going too far back when you look for them . .wait a minute ..let put it this way . .what made this Weekly level a good one? It was way in the past? . .the answer is SPACE . There was open Space between this level and current Price. You know how to pick them Steve. . . just try and keep them more near term and open space between them.

The current level on the GbpCad maybe short lived . .that OK . .if PBT&CA it good chance it will act as Support . .
Yes, I think you are indeed correct.

I need to focus on the fresh ones.


Will work on it, thanks for the tip Jim and, thanks for your patience as, I know this is not the first time you have mentioned this.

EDIT: This 1.01851 is a good one for me to print out and create a mental image of, I feel.
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  • #123,756
  • Mar 13, 2013 6:39am Mar 13, 2013 6:39am
Quoting Pinbar
Yes, I think you are indeed correct.

I need to focus on the fresh ones.


Will work on it, thanks for the tip Jim and, thanks for your patience as, I know this is not the first time you have mentioned this.

No problem Steve. . Let's keep an eye on the Weekly LCS level on the Nzdusd (in blue). Price has been dancing and bamming upwards from this sucker for a while now on many TFs. We'll see long this continues ..
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Indicators show the past. Price Action "Indicates" the future.
  • #123,757
  • Mar 13, 2013 6:40am Mar 13, 2013 6:40am
Quoting jarroo
Got to go for now

Later,

Jim

later,

jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,758
  • Mar 13, 2013 6:44am Mar 13, 2013 6:44am
Quoting jarroo
No problem Steve. . Let's keep an eye on the Weekly LCS level on the Nzdusd (in blue). Price has been dancing and bamming upwards from this sucker for a while now on many TFs. We'll see long this continues ..
Yes, I know it a Monthly and Daily LCS level too . .sweet . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,759
  • Mar 13, 2013 6:45am Mar 13, 2013 6:45am
Quoting jarroo
No problem Steve. . Let's keep an eye on the Weekly LCS level on the Nzdusd (in blue). Price has been dancing and bamming upwards from this sucker for a while now on many TFs. We'll see long this continues ..

Will do Jim.

Damn, it is Pig Face eating day here in China.

Grossed me out, all day. Ughhhhkkkkkkkkk
  • #123,760
  • Mar 13, 2013 6:48am Mar 13, 2013 6:48am
Quoting Pinbar
Y

EDIT: This 1.01851 is a good one for me to print out and create a mental image of, I feel.
Yes . .Excellent . .
Indicators show the past. Price Action "Indicates" the future.
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