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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

  • #124,641
  • Apr 10, 2013 6:07pm Apr 10, 2013 6:07pm
Quoting yaki
Hi all I want to start to read the thread So I start only one method at this time and see how jim works only with pinbar but I need to search through all the links ........... Is it possible to find a summaries of the method or someone direct me how to work correctly and not get lost in all the stuff in here Thank you Yaki דרך אגב , יש פה מישהו שדובר עברית?
Hey Yaki

My recommendation is to begin reading the first couple hundred pages and you will start to get a good grasp. Follow post one closely as well as click on James16 name and read all his posts. This will get you started pretty strongly and catch you up pretty quick

Best of luck
Mike
  • #124,642
  • Apr 10, 2013 6:32pm Apr 10, 2013 6:32pm
Quoting patapouer
Hi Starfish, yep, sort of self-fulfilling prophecy: if everyone looks at the same chart then moves are amplified. And also because it marks the end of the NY session. The european session is already closed (London, Frankfurt). And the asian session volumes are lower. As far as I could understand take care,
I agree. The London and NY sessions are the most important for me. Tokyo and Sydney not so much. So end of NY session is for me basically end of trading day...Most of price movement happen during the NY and London sessions...
@Starfish Here http://www.babypips.com/school/trading-sessions.html is table (bottom of site), where you can see average pip movement for some major currencies during the sessions....
  • #124,643
  • Apr 10, 2013 8:22pm Apr 10, 2013 8:22pm
Good evening/day (whatever time zone you may be at)

Newbie here. My name is Jim and I've been following this thread and learning lots. This is a great thread and I would like to give homage to Jim and all the teachers on this tread. I've been slowly digesting the messages on the various posts, slowly getting the idea of everything and the way. I know that I have a long way to go but I am hoping that with all the valuable information here will hopefully make me a better trader (but first, baby steps). Right now I am working things out on a demo account and putting some of the things that I learned to practice.

I've got lots of questions that I am sorting things out through the various posts but I am hoping that mbqb11 (Mike) can help me out here. I have seen a couple of your videos on the breakthrough setup (great video by the way). I am attaching a screenshot of EUR/AUD pair that I took a buy position on but I am wondering if you can vet it out with me so that I am on the right path with my trade process.

From the initial on set, it looked like price did a couple of things according to my chart. First, it broke through what looked like a downtrend, moving towards an up swing. Price also broke through what I thought was the PPZ. I was looking for the pullback towards the PPZ (which it did). Things we're looking great up to this point. I had actually entered my pending order just under the PPZ line, which seemed to worked out in my favor. As you can see, price continued south from my entry point and is currently about mid way between my entry and my SL. So, my question is, am I way out of my mind or is all my setup incorrect? Your insight would be much appreciated and valued.

Learning lots! Keep up the great posts and lessons!

Jim
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  • #124,644
  • Apr 10, 2013 9:38pm Apr 10, 2013 9:38pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Look at this nice BEOB on the BTC daily chart.
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  • #124,645
  • Apr 11, 2013 1:00am Apr 11, 2013 1:00am
Quoting yaki
Hi all I want to start to read the thread So I start only one method at this time and see how jim works only with pinbar but I need to search through all the links ........... Is it possible to find a summaries of the method or someone direct me how to work correctly and not get lost in all the stuff in here Thank you Yaki דרך אגב , יש פה מישהו שדובר עברית?
Hey Yaki!

You can also look around on the james16 private forum -> guest material. (http://www.james16group.us/)
Or here on FF you can go to james profile and look through his uploaded chart images (approximately 366 pics) - It will take a while. And nut just scroll them, but stop at every single one, and try to draw the current low/high levels - and try to think about the whole setup. Its worth it!

Best,
Stephen
It's all psychology...
  • #124,646
  • Apr 11, 2013 1:14am Apr 11, 2013 1:14am
This NZD/CHF blockbuster will defenatly come to an end soon.
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If not up, then down, otherwise sideways :-)
  • #124,647
  • Apr 11, 2013 1:16am Apr 11, 2013 1:16am
Quoting sandrutza
On USDCHF Daily, there is a candle due to close in 40 min. If closes like it looks now, it looks to me like a Pin Bar. I was thinking about placing a pending buy stop above it (once closed and confirmed as a PB). It is sitting at a nice confluence from 50% Fib ret, PPZ and 0.9300 RN. What do you think about this one ? {image}
Hi San!

Its not at a major swing - but this wouldn't be the biggest problem. Look a bit left on your chart and take a look at the pin/hammer bar at the swing low. Now that's a strong bar. (52pip long wick...) Look at that setup... And now look at yours. Even if your bar would be such a swing low/high like this one was I would still considering the trade...

However - If I would considering a trade that's how I would look at it:
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We just broke a great PPZ i think and what you see is a tiny price reversal to test the PPZ as a resistance. The "beauty" of this can be - like just as you said this tiny reversal has some confluence. If you want to risk a trade for 50 pips into the ppz - go ahead!
Im still demoing too and what I do is i make pictures of these situations, and I save them in a doc file - so later I see if I was right or wrong. Sometimes I take the trade and follow it from my phone. Its fun!

Cheers,
Stephen
It's all psychology...
  • #124,648
  • Apr 11, 2013 1:37am Apr 11, 2013 1:37am
Hey Mike!

I was just looking at the FF's news table or what - for me it says "AUD Employment Change" -> and the given rate was lower as predicted - now did this trigger the -50pip move on the 30min chart at 4:30am?
I know you aren't trading the news, but I was just wondering how it works...

Thanks,
Stephen
It's all psychology...
  • #124,649
  • Apr 11, 2013 2:53am Apr 11, 2013 2:53am
Waiting for something to happen on
NZDSGD: strong resistance at 1.06, HHR at 1.6025, and W1 & D1 divergence
and AUDCAD: double top, RN, PPZ, W1 & D1 HCR, and divergence.
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Slow & steady
  • #124,650
  • Apr 11, 2013 3:48am Apr 11, 2013 3:48am
Quoting sandrutza
On USDCHF Daily, there is a candle due to close in 40 min. If closes like it looks now, it looks to me like a Pin Bar. I was thinking about placing a pending buy stop above it (once closed and confirmed as a PB). It is sitting at a nice confluence from 50% Fib ret, PPZ and 0.9300 RN. What do you think about this one ? {image}
Hi sandrutza,

It's interesting that you mention the pinbar to the upside, however i noticed the BEOB the day before and thus entered a short. My reasons being that the prevailing trend was still bearish, as well as in my opinion price broke the resistance area BUT yes that 50% area is definiately a concern for me as this area also sits nice with the close of the group of candles at the end of feb to which price failed to break lower. Though i'm currently in the downtrend, i may just remove the risk and move to b/e and take abit of profit. To be honest, i should've done that yesterday as price did hit that area and i would've been stopped out as b/e too, but it's my lack of disciple which prevented me from doing that. But like you i'm still learning and sharing my thoughts but the best bet would be the seniors on the thread.

Makwana

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  • #124,651
  • Apr 11, 2013 3:50am Apr 11, 2013 3:50am
Question please for Jarroo or any 'Jarrooist' that can assist. Just trying to get my head round these 'signatures'. The way I understand it, Jarroo typically looks for signals on the daily chart. If say he was watching a daily HCR, and PBT&CA, which signifies a long trade all other things lining up, he then drops down to the H1 chart to see if there's a 'bearish signature'. If there is a 'bearish signature' in the H1, then he won't take the trade. Am I correct?

Thanks
Dan
  • #124,652
  • Apr 11, 2013 4:25am Apr 11, 2013 4:25am
Quoting danjuma
Question please for Jarroo or any 'Jarrooist' that can assist. Just trying to get my head round these 'signatures'. The way I understand it, Jarroo typically looks for signals on the daily chart. If say he was watching a daily HCR, and PBT&CA, which signifies a long trade all other things lining up, he then drops down to the H1 chart to see if there's a 'bearish signature'. If there is a 'bearish signature' in the H1, then he won't take the trade. Am I correct? Thanks Dan
Hi Dan,

I am no expert in Jarroo's method, but I've been quite interested by it.
Jarroo gave some nice explanations a little while ago.
Basically, what Jarroo calls a signature is the absence of any bar closing above a HCR where price could not break throughand close above. He speaks of H4 signatures, H1 signatures, even of M5 signatures...

OK, the master says it far better than I could...
Here comes the post I was looking for. Damn, why is it I didn't bookmarked it yet??
http://www.forexfactory.com/showthre...re#post6572045


Take care
Slow & steady
  • #124,653
  • Apr 11, 2013 4:41am Apr 11, 2013 4:41am
there is a nice place to go short i think.... lets wait for daily close now. (i opened small short already based on h4, will go full if close will be under those levels)

edit: just opened weekly - looks not so good at all.... damn anyway will wait for the close
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all is eternal - this is good news for people who loves bad news
  • #124,654
  • Apr 11, 2013 4:59am Apr 11, 2013 4:59am
Could be a SPF on AUD/USD pair? nice divergence also
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  • #124,655
  • Apr 11, 2013 5:35am Apr 11, 2013 5:35am
Quoting makwana
that 50% area is definiately a concern for me as this area also sits nice with the close of the group of candles at the end of feb to which price failed to break lower. Though i'm currently in the downtrend, i may just remove the risk and move to b/e and take abit of profit. To be honest, i should've done that yesterday as price did hit that area and i would've been stopped out as b/e too, but it's my lack of disciple which prevented me from doing that. But like you i'm still learning and sharing my thoughts but the best bet would be the seniors...
I'm now out of the trade with +44 as it also hit a support line i had placed on my chart. However i will now be observing the trade of what would've happened for my fine tuning for next time.
  • #124,656
  • Apr 11, 2013 5:55am Apr 11, 2013 5:55am
Quoting patapouer
Hi Dan, I am no expert in Jarroo's method, but I've been quite interested by it. Jarroo gave some nice explanations a little while ago. Basically, what Jarroo calls a signature is the absence of any bar closing above a HCR where price could not break throughand close above. He speaks of H4 signatures, H1 signatures, even of M5 signatures... OK, the master says it far better than I could... Here comes the post I was looking for. Damn, why is it I didn't bookmarked it yet?? http://www.forexfactory.com/showthre...re#post6572045...

Many thanks for your response patapouer, much appreciated. Indeed, I have already seen the post in the link you have included in your response, and many other Jarroo's posts relating to the 'signatures' (even over at the 'Fail Better' thread). However, I am still unclear about certain things, like my original question, which is still unanswered

Dan
  • #124,657
  • Apr 11, 2013 7:50am Apr 11, 2013 7:50am
Quoting danjuma
Many thanks for your response patapouer, much appreciated. Indeed, I have already seen the post in the link you have included in your response, and many other Jarroo's posts relating to the 'signatures' (even over at the 'Fail Better' thread). However, I am still unclear about certain things, like my original question, which is still unanswered Dan
You need to be more specific ;p Give me example of this "not at swing" remember, that swing are everywhere ;p For example you cannot see swings from m15 on h4 or d1 ;p well...in most cases...

I search strong lvls, tested many times, with confluence Lvls, where price has problems with closing below or above ;p It can be swing, it can be top/bottom of consolidation...

People use different lvls - I need strong, but because of it I trade rare...Meshka here for example is a little more loose (poker terminology, not that he is loosing ;p) and is trading hcr/lcs, which I leave...but he trades more often ;p You need to find out your style

If something not clear, ask, give me good description what is not clear, preferably with charts ;p
  • #124,658
  • Apr 11, 2013 8:51am Apr 11, 2013 8:51am
Quoting majc33
Good evening/day (whatever time zone you may be at) Newbie here. My name is Jim and I've been following this thread and learning lots. This is a great thread and I would like to give homage to Jim and all the teachers on this tread. I've been slowly digesting the messages on the various posts, slowly getting the idea of everything and the way. I know that I have a long way to go but I am hoping that with all the valuable information here will hopefully make me a better trader (but first, baby steps). Right now I am working things out on a demo...
Hey Jim

Welcome to the thread glad to have you here and glad you are learning

Your trade is great DBLHC with a breakout

Some things you missed that I would have watched are similar to my eur/usd I posted back a few days ago.

Here we have both a Gap left to close as well as a BRN just above us. Both of these areas make for good trade mgmt and targets on this type of trade. If you notice my gap close on my eur/usd was my final target, so you could guess in a similar case like this I would look to do the same thing. Price hit the gap to the pip and shot down. I think both that or the BRN are good targets here and you just missed those two lines that will hopefully now make more sense

Keep at it!

Mike
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  • #124,659
  • Apr 11, 2013 9:12am Apr 11, 2013 9:12am
My first post in FF. Some cable charts up for discussions. Hope I can improve on my PA as well. Read through this thread has brought some interest in PA for me. Please guide me if you feel anything is wrong in this post

Disclaimer : The following content is purely my own opionion and thoughts and should not be taken as financial advice to trade.

Weekly chart of cable
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The Weekly chart of cable showed that it had gone through some rather down side downside in the long term, however is now undergoing a bit of recovery from the last 5 candles. It had achieved almost 5 weeks of higher highs and higher lows (Except for the middle candle - counting from the back 3rd candle), however this is quite a bullish indicator of the weekly trend considering how it had crashed earlier this year.

Cable Daily Long term chart
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On the daily long term chart it is currently whipping some important levels as seen from the circled in red portions. This level had been supported 3 times in history. So if it can close above this area, it will be a major confidence booster and a plus to the bullish continuation of the weekly charts.

Cable Daily Closeup

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After zooming in on the price action, previously, the daily had given some indicators, the bullish pinbar circled in red had the next candle in line closing above the important supports of 1.52682 and 1.52367 respectively. The 2 bars circled in green had roughly the same high (1.53417 and 1.5343). The candle today showed a burst above the high set by the double high bars which proved to be another bullish point.


With all these pointing to a reversal in cable, however as I will be waiting for a retracement near as close to the support lines before entering.

  • #124,660
  • Apr 11, 2013 9:39am Apr 11, 2013 9:39am
Any suggestions for a stocks demo account ? And what platforms would be preferred?
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