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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

  • #124,661
  • Apr 11, 2013 9:47am Apr 11, 2013 9:47am
Quoting LamerTrader
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
Hey LT

Most likely yes. News is often the catalyst for moves as it generates interest in particular information.

Best
Mike
  • #124,662
  • Apr 11, 2013 9:48am Apr 11, 2013 9:48am
Quoting mbqb11
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...

Hey guys,
Can someone please explain what a gap close is?

Thanks!
  • #124,663
  • Apr 11, 2013 10:36am Apr 11, 2013 10:36am
Quoting Mayube
Hey guys, Can someone please explain what a gap close is? Thanks!
Hi May, assuming your not familiar with a gap here's a example , a new bar opens at a lower or high price than the previous bars closing price there will be a gap there sometimes large sometimes small. A gap close is when price finaly closes this gap. These areas often acknowledgments as support and resistance. Hope this helps. I can't post a chart from my phone sorry .
  • #124,664
  • Apr 11, 2013 10:46am Apr 11, 2013 10:46am
Sup guys,

Here is EUR/JPY 4Hr, would like to get a few opinions on this trade. It looks like we have nice implicit divergence and a weak pinbar. I know this is trending up super hard right now, so is risky, but given the small stop loss and the potential for it to retrace down a fair bit, we get an extremely favorable R:R ratio.

Thank you.
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  • #124,665
  • Apr 11, 2013 10:53am Apr 11, 2013 10:53am
Quoting rafstraszek
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...

Hi rafstraszek,

Thanks for your time and response. I don't think I need to show a chart really. My question is actually quite straight forward. For example, you have a PBT&CA a HCR on a daily chart and everything else like confluence with BRN, Fibs etc lines up, does one (or is that what Jarroo does) need a 'bearish signature" on the hourly chart not be present before taking the long trade? I.E. if there is a 'bearish signature' on the hourly chart, you don't take the long trade on the daily chart? Thanks
  • #124,666
  • Apr 11, 2013 11:45am Apr 11, 2013 11:45am
Quoting mbqb11
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...
Hey Mike!

Thanks for the words of encouragement and insight!

I hadn't taken the gap into consideration. It is these little lessons on demo that really helps to become a better trader.

Thanks again!

Jim
  • #124,667
  • Apr 11, 2013 2:00pm Apr 11, 2013 2:00pm
Quoting danjuma
Hi rafstraszek, Thanks for your time and response. I don't think I need to show a chart really. My question is actually quite straight forward. For example, you have a PBT&CA a HCR on a daily chart and everything else like confluence with BRN, Fibs etc lines up, does one (or is that what Jarroo does) need a 'bearish signature" on the hourly chart not be present before taking the long trade? I.E. if there is a 'bearish signature' on the hourly chart, you don't take the long trade on the daily chart? Thanks
Let's say, we have strong LCS (with confluence and everything). Price is closing below (D1 tf).
1. You can put pending sell order on LCS and wait it for trigger - my way.
2. You can wait for price to touch this LCS, and then close below. You enter after closure.

Signatures (the way I understand them) - they help you to get out, if the trade doesn't go your way. Let's say my sell pending was triggered and after that price on H4 (or other tf, it depends, what kind of signatures you want) is closing above my LCS. This is signal for me to close this trade. This is kind of early warning system - you don't have to wait for a price to hit your sl. I don't always listen h4 signatures - there are other aspects, but this is one way to go.
  • #124,668
  • Apr 11, 2013 2:26pm Apr 11, 2013 2:26pm
will be watching for potential nice reversal bar around here if we can get it. Would like a move through the BRN and a substantial size bar indicating the divergence is continued
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  • #124,669
  • Apr 11, 2013 3:21pm Apr 11, 2013 3:21pm
Quoting rafstraszek
Let's say, we have strong LCS (with confluence and everything). Price is closing below (D1 tf). 1. You can put pending sell order on LCS and wait it for trigger - my way. 2. You can wait for price to touch this LCS, and then close below. You enter after closure. Signatures (the way I understand them) - they help you to get out, if the trade doesn't go your way. Let's say my sell pending was triggered and after that price on H4 (or other tf, it depends, what kind of signatures you want) is closing above my LCS. This is signal for me to close this...
rafstraszek, thank you very much for your reply and explanation, much appreciated. I am not sure though, whether that's how Jarroo uses the 'signatures' from what I have read so far. May be the man himself will eventually find sometime to respond to my question. However, like I already mentioned, many thanks for your response, I am most grateful.

Dan
  • #124,670
  • Apr 11, 2013 3:26pm Apr 11, 2013 3:26pm
my charts settings for mayube and everyone else who finds it interesting
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all is eternal - this is good news for people who loves bad news
  • #124,671
  • Apr 11, 2013 3:45pm Apr 11, 2013 3:45pm
I'm long on eur/aud.
On weeakly chart we can see that price is trading in a nice box.
Anda last week price formed a nice bullish engufling cnadle.
And on daily chart price tested a very importante suport and form a bullish candle on it.

I think price will go up in next few days.
weeakly chart


Daily chart
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  • #124,672
  • Apr 11, 2013 8:34pm Apr 11, 2013 8:34pm
Guys, what do you think of this setup?

While the pin bar does not close within the left eye, but the size of the pin is large and it is located at the .87 RN.

Kenny
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  • #124,673
  • Apr 11, 2013 8:53pm Apr 11, 2013 8:53pm
A pin bar and also a divergence, what do you think guys?
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  • #124,674
  • Apr 12, 2013 3:40am Apr 12, 2013 3:40am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting ping-ping
A pin bar and also a divergence, what do you think guys? {image}

Hey P,

I would b very careful, it is not a pin bar on both my tradestation or fxpro feed, and it isn't one on your feed either as the bar didn't close inside the previous bar. Also it closed below the 1.5200 RN and if you were to trade the break of the bar you mentioned you would be trading right into bar high/lows (as marked on the chart)

For me everything about that bar screams bearish (not a recommendation to sell by the way) - I would much rather wait for price to approach the 1.5000 BRN and then see what sort of action we get at that level.

Plus the divergence marked on your chart - the bars are too close for me (Mike or someone more experienced might be able to confirm)

Anyway just my take on things, and how I see it.

(Sorry about my annotating skills on mt4 lol)

Kind Regards
Sanil
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  • #124,675
  • Apr 12, 2013 4:01am Apr 12, 2013 4:01am
Quoting meshka
my charts settings for mayube and everyone else who finds it interesting {image} {image}
Interesting Meshka! But keep in mind the white background is not suitable for your eyes.
I will suggest the pro traders to use black background always.
But If you want to use, then you can reduce the brightness of your LCD Monitor.
Price Is The Best Indicator Itself.
  • #124,676
  • Apr 12, 2013 5:25am Apr 12, 2013 5:25am
Quoting 4xjoema
Any suggestions for a stocks demo account ? And what platforms would be preferred?
I use www.freestockcharts.com for all US and Canadian stocks which is great. For European stocks you can go to igindex.co.uk then click on dealing platforms-online dealing to launch the demo of the platform to paper trade European stocks (ftse100,dax30,cac40 stocks and many more are there). As for demo accounts most of them such as saxo bank and city index expire after only 20 days so i just paper trade stocks instead. Fxpro do the dow30 stocks on demo if thats all you need.
Pip Project - Trading Channel
  • #124,677
  • Apr 12, 2013 6:34am Apr 12, 2013 6:34am
Quoting danjuma
rafstraszek, thank you very much for your reply and explanation, much appreciated. I am not sure though, whether that's how Jarroo uses the 'signatures' from what I have read so far. May be the man himself will eventually find sometime to respond to my question. However, like I already mentioned, many thanks for your response, I am most grateful. Dan
Well...maybe he is using signatures for entry confirmation - I was writing about waiting for daily close below our LCS, after touching it, but it can be some other tf...(it's basically daily signature...)

I'm not sure, that you can get what you want - One and only way from Jarroo. I'm sure he is using all mentioned methods (I saw him doing that in this thread) (and probably some other methods also ;p )...It all depends from trade...

You can use signatures as enter confirmation, or "get the hell out" confirmation...I remember, that some time ago, Jarroo was not using any signatures - only touch trades, and he was still profitable ;p


Jarroo was talking many times about many ways of using hcr/lcs...You really need to find your own...

Nobody can tell you, what is good for you...
  • #124,678
  • Apr 12, 2013 7:06am Apr 12, 2013 7:06am
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
Jarroo is looking at the daily and weekly levels, if pbt&CA he may go down to the hourly TF to look for bullish pa off of the daily level, on the pullback.
He will often hold the position till an H4 or H1 candle closes below this level. I have never heard him say, he will not take a trade if he sees hourly bearish pa.
Just the four hour or one hour close below his level will make him cut the trade loose.
  • #124,679
  • Apr 12, 2013 7:50am Apr 12, 2013 7:50am
Quoting asim.iqbal
Interesting Meshka! But keep in mind the white background is not suitable for your eyes. I will suggest the pro traders to use black background always. But If you want to use, then you can reduce the brightness of your LCD Monitor.


Hey Asim
This is why I keep asking for different settings. Now I see why. They white background is killing my eyes. After about 15 mins, I start to feel eye strain, even slight burn. I need to stop and move away from screen. I have to print charts to study them to relieve my eyes.

Thanks for jumping in

Mayube
  • #124,680
  • Apr 12, 2013 8:39am Apr 12, 2013 8:39am
Quoting saab
I use www.freestockcharts.com for all US and Canadian stocks which is great. For European stocks you can go to igindex.co.uk then click on dealing platforms-online dealing to launch the demo of the platform to paper trade European stocks (ftse100,dax30,cac40 stocks and many more are there). As for demo accounts most of them such as saxo bank and city index expire after only 20 days so i just paper trade stocks instead. Fxpro do the dow30 stocks on demo if thats all you need.
Thank you Saab, I tried mb last night didn't like it. I will definitely try your recommendation Thank you kindly.


joe
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