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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

  • #131,061
  • May 28, 2014 10:05am May 28, 2014 10:05am
Quoting Neytiri
Hi guys, I am planning to go short at brn 1.61. SL few pips above 1.62, FTA 1.6. Please comment on it. Neytiri {image}
EURNZD alternative view - daily chart. There is also a S & R zone around 1.6050 through the box.

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  • #131,062
  • May 28, 2014 4:04pm May 28, 2014 4:04pm
Quoting Magestic
Finally, have something to post. Cant believe it {image}
Hi Magestic

I'm afraid that level. What do you thing?
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  • #131,063
  • May 28, 2014 4:20pm May 28, 2014 4:20pm
Quoting long2339
{quote} Hi Magestic I'm afraid that level. What do you thing? {image}
I agree, but this is FTA from d1 also if you look at it with correlation with w1
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If not up, then down, otherwise sideways :-)
  • #131,064
  • May 28, 2014 7:20pm May 28, 2014 7:20pm
Quoting warbuf
{quote} Hi mbqb11, is Jim still active in the PF? I've just discovered the forum and I'm on page 50 now (back in 2006), but I haven't seen Jim posting in this thread lately anymore. I would like to join, but i'm not sure if that's still active and who is teaching or moderating in the present. Thanks!
Hey Warbuf

Welcome to the thread

I've been handling things for about the last year - year and half. Jim's been on hiatus dealing with his real estate and was a bit burned out. But we have been workign on the new site for about 8 months now with a release date that is set for July 1st when he will return in full capacity. We're still alive and kicking though but things are about to pick up with the new site

Again welcome to the thread hope its helping!
Mike
  • #131,065
  • May 28, 2014 8:17pm May 28, 2014 8:17pm
Quoting EveningStar
{quote} mbqb11 said I should stick to bigger time frame charts and you say that H4 charts are difficult to read. So I'm a little confused here. Which timeframe should I focus on as a newbie to price action trading?
Hey ES

Stick to those larger timeframes as laid out in the first post(j16 minimum requirements). This is the daily/weekly. I added the 4hr because many people can't stick to just that and add in the 4hr. We say this so that people take their time in analyzing their trades and learn the foundation of what we do. Many in fact choose never to go down lower. But ultimately the material is applicable across all timeframes and all markets(which is the best thing about it). But I can't stress enough how important I believe the j16 minimum requirements are for a new trader. It's a first step to treating this as the business it is. It's not that one timeframe is more reliable or better etc. It's just about building a good foundation in my eyes.

Hope that clarifies

Mike
  • #131,066
  • May 28, 2014 11:39pm May 28, 2014 11:39pm
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Whether you can or you can't, you are both right.
  • #131,067
  • May 29, 2014 12:22am May 29, 2014 12:22am
Quoting mbqb11
{quote} Hey ES Stick to those larger timeframes as laid out in the first post(j16 minimum requirements). This is the daily/weekly. I added the 4hr because many people can't stick to just that and add in the 4hr. We say this so that people take their time in analyzing their trades and learn the foundation of what we do. Many in fact choose never to go down lower. But ultimately the material is applicable across all timeframes and all markets(which is the best thing about it). But I can't stress enough how important I believe the j16 minimum requirements...
Hi, yes I'll stick to the daily TF for now as I've found it to be more stable for me.
  • #131,068
  • May 29, 2014 2:30am May 29, 2014 2:30am
Quoting dan89
UPDATE: {quote} {image} {quote} {image} Take care Dan
Looks like things are starting to move. Anyone else keeping an eye on this pair ?

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  • #131,069
  • May 29, 2014 7:50am May 29, 2014 7:50am
Quoting dan89
{quote} Looks like things are starting to move. Anyone else keeping an eye on this pair ? {image}
I usually don't trade minors, but it looks really promising for a long @ 1.0880.
I will watch this one closely too.

Thanks for the heads up
It's all psychology...
  • #131,070
  • May 29, 2014 11:47am May 29, 2014 11:47am
Quoting LamerTrader
{quote} I usually don't trade minors, but it looks really promising for a long @ 1.0880. I will watch this one closely too. Thanks for the heads up
Cool. Im also looking at a close above the Res level and retrace with PA either on the D of 4h for a long

Take care
Dan
  • #131,071
  • May 29, 2014 5:40pm May 29, 2014 5:40pm
Quoting Neytiri
Hi guys, I am planning to go short at brn 1.61. SL few pips above 1.62, FTA 1.6. Please comment on it. Neytiri {image}
,
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  • #131,072
  • May 29, 2014 8:30pm May 29, 2014 8:30pm
Quoting Neytiri
{quote} , {image}
You would be trading right back to a ppz at the BRN of 1.6000, so I would watch that close. The bar looks more bullish in my opinion, kind of like a B - C grade (my opinion only) wick play that Mike has mentioned in the thread.

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  • #131,073
  • Edited May 30, 2014 12:55am May 29, 2014 10:01pm | Edited May 30, 2014 12:55am
Quoting Donkey
{quote} You would be trading right back to a ppz at the BRN of 1.6000, so I would watch that close. The bar looks more bullish in my opinion, kind of like a B - C grade (my opinion only) wick play that Mike has mentioned in the thread. {image}
Thanks D. It was a touch trade entry. Made the entry when price hit the descending trendline. My FTA was 1.6 and I closed the trade when price hit it.
  • #131,074
  • May 30, 2014 1:09am May 30, 2014 1:09am
EURUSD on the daily chart

Seeing a reversal off the 1.35900 Support level with an inverted hammer. Are we in for a reversal of the trend?
  • #131,075
  • May 30, 2014 7:16am May 30, 2014 7:16am
Hi,
After PBT&CB, I entered on retrace to the line. I took 50% profit near prev bottom and rest on BE as price went back above.
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  • #131,076
  • May 30, 2014 10:06am May 30, 2014 10:06am
Quoting fartist
{image}
Hey Fartist,

Just did my weekly catch up on the forum and though I don't have oil with my broker, I checked it out with another. It's a great looking chart with a clear price pivot zone around 1.04 level. What really caught my eye was that we have a triple top coupled with descending divergence displaying on MACD. It's a shame there was no price action to compliment the trade, but even entering at market could work. Thanks for alerting me to the chart!
  • #131,077
  • May 30, 2014 10:58am May 30, 2014 10:58am
I everybody!
I'm a new student of the Jarroo's Method i wanna ask you where i can find Jarroo's video on internet?
I try to search it but the result was "not found"
  • #131,078
  • May 30, 2014 11:13am May 30, 2014 11:13am
some of the set up i find today comments are welcome, hope i am analysing correctly

1. Nice pin bar just below a PPZ and Round number , touch to the trend line , and with the trend
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2. Nice pin at round number 1.6100, touch to decending trend line and with trend but close little above the 50 SMA so will avoid this one
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3.Pin at up trend line and closed above 1.5000 and with the uptrend
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4.Pin at up trend line close above round number 0.7600 but its in TRAFFIC and close below 50 SMA so not Good set up
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  • #131,079
  • May 30, 2014 2:58pm May 30, 2014 2:58pm
Quoting ukanimk
some of the set up i find today comments are welcome....{image}
Hello ukanimk,
My newbie comments are that 2 and 4 are just below consolidation that price broke from with left eye. For 1 and 3 you have at least some space to go to BE.
Additionally the pins are tiny, especially if you see how much they go outside left eye high/low instead of open/close.
ps. I hate reading that pins are tiny or the price move was too big for pin to work
  • #131,080
  • May 30, 2014 3:03pm May 30, 2014 3:03pm
the stock market (here ym) closed at an all-time-high.
in the last 30min of trading, price made a new high. a rise like this in the last trading hours on a friday is highly unlikely. usually volume on the last day of a week in the stock market starts to dry up at about 5pm gmt.
it can truely be an indication for a further rise. i am very surprised to see this.
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meine augen sind die sterne
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