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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

  • #124,681
  • Apr 12, 2013 10:54am Apr 12, 2013 10:54am
Quoting rafstraszek
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,...
Hi rafstraszek,

Many thanks for your response and advice. Much appreciated.

Dan
  • #124,682
  • Apr 12, 2013 10:56am Apr 12, 2013 10:56am
Quoting Pinbar
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.
Hi Pinbar,

Many thanks for your explanation. Very much appreciated.

Dan
  • #124,683
  • Apr 12, 2013 11:07am Apr 12, 2013 11:07am
Been reading a book called "martin pring on price patterns". It mentions that the greater the speed and extent of the previous move, the more significant a support or resistance zone is likely to be. It gives an example where price approached a resistance zone with a sharp rally and bounced off it, but when it made a slower, methodical rally towards it, it was able to push through the resistance. What do the old timers think about this? Because I've often seen a pinbar at the end of a steep move and the pin has failed. Just seems like a bit of a contradiction to what I thought all along.
  • #124,684
  • Apr 12, 2013 12:08pm Apr 12, 2013 12:08pm
Quoting rafstraszek
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,...
Hello everyone!

I have a question on Jarroo's method and the LCS and HCR levels. Let's say that prices approaches a support line that has been established as a LCS. When prices breaks through that level and forms a new low, does that become the new level? Also, does anyone know which post(s) has a breakdown of Jarroo's method?

Thanks,

Jim
  • #124,685
  • Apr 12, 2013 2:47pm Apr 12, 2013 2:47pm
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.
Yes the brightness should be reduced if contrast is too high.. keep your eyes healthy. my white looks greyish so I didnt feel any discomfort with it.

black background is an option but charts looks more optimistic with bright background to me lol
all is eternal - this is good news for people who loves bad news
  • #124,686
  • Apr 12, 2013 5:12pm Apr 12, 2013 5:12pm
Quoting mbqb11
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 {image}

Ended up with a nice weekly bearish pin on my feed.
  • #124,687
  • Apr 12, 2013 6:06pm Apr 12, 2013 6:06pm
Quoting meshka
Yes the brightness should be reduced if contrast is too high.. keep your eyes healthy. my white looks greyish so I didnt feel any discomfort with it. black background is an option but charts looks more optimistic with bright background to me lol
xD I suggest green background and green candles ;D Super-optimistic xD

I like your charts - when I scroll j16 thread and see your charts (easy to spot), I know, that this is good idea to stop and see what magic meshka is doing

Your style is quite similar to mine, so it is good to recheck some ideas...or steal some
  • #124,688
  • Apr 12, 2013 8:05pm Apr 12, 2013 8:05pm
awesome...
Attached Image (click to enlarge)
Click to Enlarge Name: [GOLD,Weekly]_2013-04-13_03-58-53.jpg Size: 107 KB
all is eternal - this is good news for people who loves bad news
  • #124,689
  • Apr 13, 2013 12:33am Apr 13, 2013 12:33am
Attached Image (click to enlarge)
Click to Enlarge Name: eur+usd+daily+13+april+2013.png Size: 18 KB


Hi Guys any views on this pinbar on eur usd daily? I'm thinking of going long if there is a retracement next week. Looks like theres a strong support near this level and its also coincides near the 200 Day MA.
  • #124,690
  • Apr 13, 2013 5:27am Apr 13, 2013 5:27am
Hello all!

Just wanted to get your opinion on the GPB/NZD pair.

Here's the story I am reading so far on this pair. Correct me if I'm off base.

On the weekly TF, the overall trend is down but we see on the last couple of weeks, prices tried to break the trend line but reversed.

On the daily TF, we have another confirmation with a nice PB formation on the April 11. Not sure about the bar on the 12 as prices showed a slight weakness a backed off its high of the day. But this could be due to a retrace to the 1.78327 level and may bounce off this level and continue upwards as shown on the H4 TF.

So, here's my thoughts on this. Based on what I see, prices has reversed, and we're on a slow uptrend. I could open a pending trade around the support line or would you wait for further confirmation on the weekly to see if price breaks the weekly trend line?

Your thoughts and comments are appreciated.

Jim
Attached Image(s) (click to enlarge)
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  • #124,691
  • Apr 13, 2013 6:10am Apr 13, 2013 6:10am
Quoting meshka
awesome... {image}
I guess u r referring/expecting mroe slide to come..


Sonic
  • #124,692
  • Apr 13, 2013 8:56am Apr 13, 2013 8:56am
Quoting Hiten123
Been reading a book called "martin pring on price patterns". It mentions that the greater the speed and extent of the previous move, the more significant a support or resistance zone is likely to be. It gives an example where price approached a resistance zone with a sharp rally and bounced off it, but when it made a slower, methodical rally towards it, it was able to push through the resistance. What do the old timers think about this? Because I've often seen a pinbar at the end of a steep move and the pin has failed. Just seems like a bit of...
Hey H

The thing is each situation is really different. The general idea that technical traders go on in this case is that the more price is knocking up on an area the easier it becomes to break.

The way people look at it is thinking like you are trying to break a door down. If you run into the door you might break it down but you can generate more power by standing at the door and kicking it then running into it.

But just because you have a pinbar at the end of a steep move doesn't mean that the move is over. That just means you got your "bounce" . We know want to assess that pinbar itself in relationship to everything else.

It's too general a statement to apply to everything in trading. Just like if you got to a doctor an say you have pain somewhere. They don't just diagnose you the same every time. They want to know more information. That's what we do as technical traders and the luxury we have with our charts is more information to make a proper diagnosis .

Best
Mike
  • #124,693
  • Apr 13, 2013 9:16am Apr 13, 2013 9:16am
Does somebody consider this trade? Itīs quite nice set up with a lot of confluence, but not much space
Attached Image (click to enlarge)
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  • #124,694
  • Apr 13, 2013 10:11am Apr 13, 2013 10:11am
Quoting Martin600
Does somebody consider this trade? Itīs quite nice set up with a lot of confluence, but not much space {image}
Looks good Martin as long as you look to that rising TL you have as price is in a "box" with a lot of trouble underneath. If price can break through that area and it can hold you could see further downside

Best
Mike
  • #124,695
  • Apr 13, 2013 11:02am Apr 13, 2013 11:02am
Hey guys

As much i like posting success trades, i rather discuss fail ones, like this one.
Pending buy just above 0.8 level after burst and close nicely above. Soo, what made sellers dive in
and break threw that PPZ kinda easly. :nerd: ??
This one was demo so no sweat lol
Attached Image (click to enlarge)
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  • #124,696
  • Apr 13, 2013 12:58pm Apr 13, 2013 12:58pm
Quoting gasgas
Hey guys As much i like posting success trades, i rather discuss fail ones, like this one. Pending buy just above 0.8 level after burst and close nicely above. Soo, what made sellers dive in and break threw that PPZ kinda easly. :nerd: ?? This one was demo so no sweat lol {image}
Hey,

1) That is nothing close to what a PPZ is.
2) "close nicely above". That is a bad close, notice the strong rejection/wick (plus it barely closed above the high). You cannot conclude at that moment that it is a true breakout and not a fakeout.

Cheers!
I don't need easy. I just need possible.
  • #124,697
  • Apr 13, 2013 4:21pm Apr 13, 2013 4:21pm
Quoting gasgas
Hey guys As much i like posting success trades, i rather discuss fail ones, like this one. Pending buy just above 0.8 level after burst and close nicely above. Soo, what made sellers dive in and break threw that PPZ kinda easly. :nerd: ?? This one was demo so no sweat lol {image}
If you zero down to smaller timeframes it looks like there was plenty of time to get your stop to at least break even and probably better, I don't see any reason this should have turned into a losing trade This has been on a sustained uptrend for some time, imo nothing out of the ordinary considering market psychology (BRNs) with shorters entering at these levels and bulls taking profit. Good luck with your trades
  • #124,698
  • Apr 13, 2013 7:01pm Apr 13, 2013 7:01pm
Yes i agree, rejection/wick showing lack of momentum. Still H4 closing better. Though there was never time to BE or take profit really.
Tnx guys
Attached Image (click to enlarge)
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  • #124,699
  • Apr 13, 2013 7:03pm Apr 13, 2013 7:03pm
Are you talking about lower TF confirmation ? If yes I agree,but it is anyway loss. 4h came exactly to the pip on his PPZ and bounced from it to 8004. Closed above PPZ and 8000. For me a valid long confirmation. then it fell like a rock...My stop will be anyway below the PPZ. Or after this 4h closed I would move it there. His is too far in my opinion.

Quoting bigandrich
If you zero down to smaller timeframes it looks like there was plenty of time to get your stop to at least break even and probably better, I don't see any reason this should have turned into a losing trade This has been on a sustained uptrend for some time, imo nothing out of the ordinary considering market psychology (BRNs) with shorters entering at these levels and bulls taking profit. Good luck with your trades
  • #124,700
  • Apr 13, 2013 7:14pm Apr 13, 2013 7:14pm
Quoting majc33
Hello all! Just wanted to get your opinion on the GPB/NZD pair. Here's the story I am reading so far on this pair. Correct me if I'm off base. On the weekly TF, the overall trend is down but we see on the last couple of weeks, prices tried to break the trend line but reversed. On the daily TF, we have another confirmation with a nice PB formation on the April 11. Not sure about the bar on the 12 as prices showed a slight weakness a backed off its high of the day. But this could be due to a retrace to the 1.78327 level and may bounce off this level...
Hello everyone,

I am wondering if anyone has any thoughts on my post?

Thanks,

Jim
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