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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

  • #124,381
  • Edited 2:36am Apr 4, 2013 1:44am | Edited 2:36am
Quoting Pinbar
Example of a Swing Point Being Respected and how Jarroo's level not only kept us out after price violated the HCR but tipped us off with the hourly signature and the IB. {image} {image}

This is a beautiful example of Tom's (The Wizard) Swing Failure Pattern (SFP). This Bearish SFP also gives us a Bearish Bias for my HCR levels too. or other S/R levels. Sure, Highest Close of Resistance (HCR) levels do give a bias of Resistance but the Bearish SFP adds confluence and strength to the HCR level. . .all we need now is an additional confirmation of Hourly and/or 4 Hour Signature(s).

Yes, the SFP can be traded on the Hourly too (chart 2) . . .actually any TF will do . .

Please seek out Tom (The Wizard) for more information on the Swing Failure Pattern (SFP) at the Fail Better thread . .
http://www.forexfactory.com/showthread.php?t=287794

You'll be glad you did . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #124,382
  • Apr 4, 2013 1:49am Apr 4, 2013 1:49am
Ok Jim

I will use your photos, right?
  • #124,383
  • Apr 4, 2013 1:50am Apr 4, 2013 1:50am
Quoting jarroo
This a beautiful example of Tom's (The Wizard) Swing Failure Pattern (SFP). This Bearish SFP also gives us a Bearish Bias for my HCR levels too. Sure, Highest Close of Resistance (HCR) levels do give a bias of Resistance but the Bearish SFP adds confluence and strength to the HCR level. . .all we need now is an additional confirmation of Hourly and/or 4 Hour Signature(s). Yes, the SFP can be traded on the Hourly too (chart 2) . . .actually any TF will do . . Please seek out Tom (The Wizard) for more information on the Swing Failure Pattern...

Another example of a Bearish SFP on the Hourly . .GbpAud . .

You can't go wrong with a one pip draw down . .other SFP's draw downs will differ, of course.
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Indicators show the past. Price Action "Indicates" the future.
  • #124,384
  • Apr 4, 2013 1:53am Apr 4, 2013 1:53am
Quoting Pinbar
Ok Jim I will use your photos, right?
Here's a good one to use . .UsdCad
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Indicators show the past. Price Action "Indicates" the future.
  • #124,385
  • Edited 2:44am Apr 4, 2013 1:53am | Edited 2:44am
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

Here is the updated J16 Terminology list.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back ( often used to denote the first time back to an EMA)
RT= retest
WIPG= Where is price going
(This is an exercise designed by J16, in working out where the initial push of any given PA setup is likely to stall at, before it even breaks. In other words the FTA)
WDPG= Where did price go ( This is the conclusion of WIPG)



------------------------------------ -------------

Price Action Bars Chart

Note that, the short horizontal line on the PA chart, is the entry point which is usually a 10-15 pip buffer on a daily chart.

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Jarroo's Methodology Terminology
------------------------------------ --------------
PBT&CA = price breaks through & closes above
PBT&CB = price breaks through & closes below
LCS = lowest close of support
HCR =highest close of resistance
DCC = Daily Close Confirmation (Of Support or Daily Close Confirmation of Resistance is an indication by the Daily Close to confirm that Support level has flipped to Resistance and vise vie)
SFP = Swing Failure Pattern (Originally Formulated By the Wizard) See Jarroo's chart below for explanation or visit the Wiz thread. http://www.forexfactory.com/showthread.php?t=287794

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  • #124,386
  • Apr 4, 2013 2:01am Apr 4, 2013 2:01am
Quoting jarroo
Here's a good one to use . .UsdCad {image}
So, you want me to use only this one or the others also?
  • #124,387
  • Apr 4, 2013 2:02am Apr 4, 2013 2:02am
Quoting ghous
Hey Jim, yes that would be the HHR for the bigger picture. I was talking about the more minor swing point. Just like you have your major and minor HCRs their wicks can protrude to create major and minor HHRs. g. {image}


Oh I see . .thanks . .

But you know what caused those recent Daily Highs don't you? . . . .LCS level.

sorry G. I had to throw that in . .
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Indicators show the past. Price Action "Indicates" the future.
  • #124,388
  • Apr 4, 2013 2:04am Apr 4, 2013 2:04am
Quoting Pinbar
So, you want me to use only this one or the others also?
The Cad is a good representation of both Bullish and Bearish SFPs . . thanks Steve . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,389
  • Apr 4, 2013 2:09am Apr 4, 2013 2:09am
Quoting jarroo
The Cad is a good representation of both Bullish and Bearish SFPs . . thanks Steve . .

Ok, Jim.

Got it. will sort it out.
  • #124,390
  • Apr 4, 2013 2:12am Apr 4, 2013 2:12am
Quoting jarroo
Oh I see . .thanks . . But you know what caused those recent Daily Highs don't you? . . . .LCS level. sorry G. I had to throw that in . . {image}
yup!

All part of the same pie.

g.
I believe . . .
  • #124,391
  • Apr 4, 2013 2:15am Apr 4, 2013 2:15am
Ok, done.

Are we good to go?
  • #124,392
  • Apr 4, 2013 2:18am Apr 4, 2013 2:18am
Quoting ghous
yup! All part of the same pie. g.
That SFP piece of the pie taste very, very good . .
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Indicators show the past. Price Action "Indicates" the future.
  • #124,393
  • Apr 4, 2013 2:27am Apr 4, 2013 2:27am
Quoting Pinbar
Ok, done. Are we good to go?
Looks good Steve . .thanks for that . .it has helped many many people.


Also, I didn't want it to look like the SFPs was my thing . .

I wanted to make sure that Tom "The Wizard" was the main man of the SFP discovery . .

. . .It has helped my trading oh so very much .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #124,394
  • Apr 4, 2013 2:41am Apr 4, 2013 2:41am
Here is a wicked SP test.
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  • #124,395
  • Apr 4, 2013 2:54am Apr 4, 2013 2:54am
Quoting Pinbar
Here is a wicked SP test. {image} {image}
Price is heading to test those HCR levels that worked out great.

The Swing Point Low may develop a Bullish SFP . .we'll have to wait and see .
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Indicators show the past. Price Action "Indicates" the future.
  • #124,396
  • Apr 4, 2013 3:02am Apr 4, 2013 3:02am
Quoting jarroo
Price is heading to test those HCR levels that worked out great. The Swing Point Low may develop a Bullish SFP . .we'll have to wait and see . {image}

Yeah, I took it on demo to test your level against the SFP level.
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  • #124,397
  • Apr 4, 2013 3:02am Apr 4, 2013 3:02am
Quoting jarroo
This is a beautiful example of Tom's (The Wizard) Swing Failure Pattern (SFP). This Bearish SFP also gives us a Bearish Bias for my HCR levels too. or other S/R levels. Sure, Highest Close of Resistance (HCR) levels do give a bias of Resistance but the Bearish SFP adds confluence and strength to the HCR level. . .all we need now is an additional confirmation of Hourly and/or 4 Hour Signature(s). Yes, the SFP can be traded on the Hourly too (chart 2) . . .actually any TF will do . . Please seek out Tom (The Wizard) for more information on the...

Hi Jim,

Could you point me to an explaination about hourly signatures?

Thanks
Vicky
Fall seven times, stand up Eight! #GGMU
  • #124,398
  • Apr 4, 2013 3:03am Apr 4, 2013 3:03am
Quoting jarroo
That SFP piece of the pie taste very, very good . . {image}
you trade SFPs at all?

g.
I believe . . .
  • #124,399
  • Apr 4, 2013 3:05am Apr 4, 2013 3:05am
Quoting ghous
you trade SFPs at all? g.
Yes, as a setup and as a bias . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,400
  • Apr 4, 2013 3:07am Apr 4, 2013 3:07am
Quoting jarroo
Looks good Steve . .thanks for that . .it has helped many many people. Also, I didn't want it to look like the SFPs was my thing . . I wanted to make sure that Tom "The Wizard" was the main man of the SFP discovery . . . . .It has helped my trading oh so very much . Jim
I really got hooked to SFPs after Tom first mentioned them. It brought a multitude of concepts, including those that I read about on orderflow threads together for me. The torch got ignited.

g.
I believe . . .
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