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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

  • #124,101
  • Mar 25, 2013 10:15am Mar 25, 2013 10:15am
Quoting jarroo
You nailed that level KayKay . .looks like that past LCS level was regenerized with that little bit of Space. . . great Signatures there.

The HCR and LCS levels that PBT&CA failed badly as Support.

I'm looking to see it that 1.2865 LCS level to hold.

You nailed it, Kay Kay.


Jim
hi Jim,

on the weekly below the LCS now turn to HCR ...

if i.m not wrong ......

cheers
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  • #124,102
  • Mar 25, 2013 10:29am Mar 25, 2013 10:29am
Quoting mrhb30jr
hi Jim,

on the weekly below the LCS now turn to HCR ...

if i.m not wrong ......

cheers

Hey mrhb . .we'll have to see where Price Closes today to see if the Weekly LCS level is going to flip to Resistance.

The recent Weekly LCS level is hard to see because of the gap. . .I've filled it in ..

also, my broker data feed may be different from yours.
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Indicators show the past. Price Action "Indicates" the future.
  • #124,103
  • Mar 25, 2013 10:36am Mar 25, 2013 10:36am
Quoting jarroo
You nailed that level KayKay . .looks like that past LCS level was regenerized with that little bit of Space. . . great Signatures there.

The HCR and LCS levels that PBT&CA failed badly as Support.

I'm looking to see it that 1.2865 LCS level to hold.

You nailed it, Kay Kay.


Jim
1.2865 is hanging tough . .Low of the Day?? maybe . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #124,104
  • Mar 25, 2013 10:38am Mar 25, 2013 10:38am
Quoting jarroo
Hey mrhb . .we'll have to see where Price Close today to see if the Weekly LCS level is going to flip to Resistance.

The recent Weekly LCS level is hard to see because of the gap. . .I've filled it in ..

also, my broker data feed may be different from yours.
hi jim,
PA failure to close above the gap, gap turn to new resistance .....inside the complicate area ..... bear win if close below the LCS ....
i will watching at there too ...LCS area

cheers
  • #124,105
  • Mar 25, 2013 10:42am Mar 25, 2013 10:42am
Quoting mrhb30jr
hi jim,
PA failure to close above the gap, gap turn to new resistance .....inside the complicate area ..... bear win if close below the LCS ....
i will watching at there too ...LCS area

cheers

Should be interesting to see how it unfold . .bears maybe just catching their breathe . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #124,106
  • Mar 25, 2013 12:22pm Mar 25, 2013 12:22pm
I know Mike and Jim and others talk about visualizing divergence on the chart itself without using the macd or any other oscillator. Generally speaking higher highs or lower lows that tend to squeeze into some kind of a pattern like a wedge come with a lot of surety of divergence hence eradicating the need to carry an otherwise useless indicator on the bottom of your screen.

In context of all these magnificent Jarroo style charts around highlighting solid areas marked by bar closes, thought I'd put some topping on the cake with an interesting find.

bar closes coupled with prior bar highs and lows can actually be very indicative of momentum exhaustion and a possible tip off coming soon.

So we know how HCR and LCS levels work like a charm in fine tuning our support and resistance zones/ppzs but bar closes can actually point to a possible momentum exhaustion/divergence too...

As price approaches an important level such as a confluence area or a prior swing point look for bars filling in prior wicks without actually closing beyond the wicks.

A few words need to be reiterated from the line above:

First just like our conventional macd divergence serves us best at sweet locations, I find this pattern helpful around crucial areas and not just anywhere on a chart. Secondly we want wicks forming on bars opposite to the trend direction. So if we are looking at price in a down trend heading straight into a support zone, as price approaches it, you should start seeing wicks on the underside of your bars. Needless to say this means the buyers are ticking in. Thirdly you want the wicks to be filling in partially or completely without actually seeing bars closing beyond these wicks. (think of this like a speeding train which still travels a bit from the point you apply the brakes up till the point it actually stops) In essence the lows will start to act as support and the bars closing above them symbolize it. What's more, like with bullish divergence, bullish PA now at this support zone clearly shows you it was a result of a real tip off between the bears and the bulls. (other parameters for trade validation would apply too of course)

(see the attached charts for visual explanations and examples)

BTW I haven't systematized the pattern as a key trigger to a system nor would I recommend anyone else to do it, because just like conventional divergence bars can keep ticking in the direction of the current move while displaying the same pattern before price turns around. At best this should help with trade management (as price heads into trouble areas and target areas) and getting a deeper view of price dynamics in general.

I am aware that some of us are already aware of this particular market behavior but for those who aren't thought I'd carve out a post...

g.
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I believe . . .
  • #124,107
  • Mar 25, 2013 12:47pm Mar 25, 2013 12:47pm
Just validating my observations...

Market: GBP/USD, Method: Jarroor

Price had broke though and had now come back to retest the 1.523 level. Would this has classed as a valid jaroor trade?

Market: GBP/USD, Method: J16

Price had broken the resistance line (same as Jaroor method) and is in the process of developing a BEOB. Would this be classed a a valid J16 trade?

Your thoughts and comments would be greatly appreciated.
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  • #124,108
  • Mar 25, 2013 12:48pm Mar 25, 2013 12:48pm
Quoting ghous
I know Mike and Jim and others talk about visualizing divergence on the chart itself without using the macd or any other oscillator. Generally speaking higher highs or lower lows that tend to squeeze into some kind of a pattern like a wedge come with a lot of surety of divergence hence eradicating the need to carry an otherwise useless indicator on the bottom of your screen.

In context of all these magnificent Jarroo style charts around highlighting solid areas marked by bar closes, thought I'd put some topping on the cake with an interesting...
Interesting stuff G . .

Can this be "part" of the dynamic behind Swing Failure Patterns (SFPs) . .just a "part" of it I know there is more to them .. liquidity, etc.

Like what is currently happening on the EurUsd Hourly. . . ?? (SFP)

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #124,109
  • Mar 25, 2013 12:54pm Mar 25, 2013 12:54pm
Quoting jarroo
Interesting stuff G . .

Can this be "part" of the dynamic behind Swing Failure Patterns (SFPs) . .just a "part" of it I know there is more to them .. liquidity, etc.

Like what is currently happening on the EurUsd Hourly. . . ?? (SFP)

Jim
Absolutely!

g.
I believe . . .
  • #124,110
  • Mar 25, 2013 12:55pm Mar 25, 2013 12:55pm
Quoting ghous
I know Mike and Jim and others talk about visualizing divergence on the chart itself without using the macd or any other oscillator. Generally speaking higher highs or lower lows that tend to squeeze into some kind of a pattern like a wedge come with a lot of surety of divergence hence eradicating the need to carry an otherwise useless indicator on the bottom of your screen.

In context of all these magnificent Jarroo style charts around highlighting solid areas marked by bar closes, thought I'd put some topping on the cake with an interesting...
A better look on the 30 min SFP
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #124,111
  • Edited 1:17pm Mar 25, 2013 1:03pm | Edited 1:17pm
Quoting makwana
Just validating my observations...

Market: GBP/USD, Method: Jarroor

Price had broke though and had now come back to retest the 1.523 level. Would this has classed as a valid jaroor trade?

Market: GBP/USD, Method: J16

Price had broken the resistance line (same as Jaroor method) and is in the process of developing a BEOB. Would this be classed a a valid J16 trade?

Your thoughts and comments would be greatly appreciated.

I saw them too, makwana . .

Not only that minor LCS but a very minor HCR level too. Price made some nice lower TF Signatures there too . .I just thought they where two minor levels..

I guess the GU was just looking for any excuse to go short. ..even off minor levels.

We'll have to wait for the Daily Close to see if the BEOB has any strength.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #124,112
  • Mar 25, 2013 1:08pm Mar 25, 2013 1:08pm
Quoting ghous
Absolutely!

g.

A real time example Ghous . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,113
  • Mar 25, 2013 1:12pm Mar 25, 2013 1:12pm
Quoting ghous
Absolutely!

g.


Look at the dance on the LCS ..1.2865 . . .once PBT&CA on the Hourly . .question is . .Will it hold . .
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Indicators show the past. Price Action "Indicates" the future.
  • #124,114
  • Mar 25, 2013 1:13pm Mar 25, 2013 1:13pm
Quoting jarroo
A real time example Ghous . .
Example of a great looking SFP but some "crude" divergence would have made it even better

g.
I believe . . .
  • #124,115
  • Mar 25, 2013 1:15pm Mar 25, 2013 1:15pm
Quoting ghous
Example of a great looking SFP but some "crude" divergence would have made it even better

g.

Good point . .damn . . It may not hold . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,116
  • Mar 25, 2013 1:20pm Mar 25, 2013 1:20pm
Quoting ghous
Example of a great looking SFP but some "crude" divergence would have made it even better

g.
Was the EU 30min or Hourly more inline with the UsdChf example g.??

I may be wrong.
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Indicators show the past. Price Action "Indicates" the future.
  • #124,117
  • Mar 25, 2013 1:30pm Mar 25, 2013 1:30pm
Quoting jarroo
Was the EU 30min or Hourly more inline with the UsdChf example g.??

I may be wrong.
In line in the sense that they were both fake out setups. The reason to quote the usd/chf chart though was that it represented divergence too as in the bar prior and the bars after the pin bar/fake out bar clearly couldnt manage to close below the previous bar's low hence confirming exhaustion to a considerable extent.

g.
I believe . . .
  • #124,118
  • Mar 25, 2013 1:31pm Mar 25, 2013 1:31pm
Quoting jarroo
Was the EU 30min or Hourly more inline with the UsdChf example g.??

I may be wrong.
still some strong divergence on E/U

This is the make or break for the bulls coming up
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  • #124,119
  • Mar 25, 2013 1:33pm Mar 25, 2013 1:33pm
Quoting ghous
In line in the sense that they were both fake out setups. The reason to quote the usd/chf chart though was that it represented divergence too as in the bar prior and the bars after the pin bar/fake out bar clearly couldnt manage to close below the previous bar's low hence confirming exhaustion to a considerable extent.

g.
Aaah I see . .there was a bit of a KaBoom there . . . .for a little while at least.
Indicators show the past. Price Action "Indicates" the future.
  • #124,120
  • Mar 25, 2013 1:39pm Mar 25, 2013 1:39pm
Quoting mbqb11
still some strong divergence on E/U

This is the make or break for the bulls coming up

But of course, Mike . . . . .there's a bigger story going on here . .thanks bro. . .

There's going to one big old BEOB on the Daily wiping out alot of previous bars.. we'll see how it Closes.
Indicators show the past. Price Action "Indicates" the future.
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