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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

  • #4,581
  • Jul 13, 2007 9:01pm Jul 13, 2007 9:01pm
Quoting Tiki Trader
Do we call that pin bar on daily EUR/USD ??? Or not really ??

I say not really, but things must maybe start to top out soon...

Anyone going to trade based on that candle ???
yeah this is a neutral bar(open and close in the middle of the bar) - shows indecision, no trade based on this candle for me
  • #4,582
  • Jul 13, 2007 9:05pm Jul 13, 2007 9:05pm
Ok Right !!! No trade for me either then... no pin bars end of today then for me
  • #4,583
  • Jul 13, 2007 11:11pm Jul 13, 2007 11:11pm
Hi all,
Just reviewing Friday's bars and looking towards next week start. Can not see any PBs on the daily that stand out but came across a Three Bar Low on the four hours 08.00, 12.00 and 16.00 for Friday each having the same low 0.6773 on the EUR/GBP. I read somewhere (not sure where now) that these bars could be considered rejection bars and I was going to jump in at the start of next week with a long.
But in the James16 thread, Three Bar Low is a sign to go short and better to enter on the break of the Three Bar Low 0.6773.
Looking for other clues, there is, to me, strong resistence at 0.6800 and the price should open just below the daily pivot point on Monday at 0.6781 There is also a daily trend up since June 29 on the daily's. I find these clues confusing.
Anyway, what do others think of this possible trade for next week of going short on the break on the Three Bar Low rather than looking for a long.
All the best with price action trading for the start of next week. Ray
  • #4,584
  • Jul 13, 2007 11:18pm Jul 13, 2007 11:18pm
Hey ray,

Matching lows/highs can be great ways to play breakouts or continuations. But my recommendation is to find these patterns on the daily and higher charts. This raises our confidence level much better on these higher timeframes. Patterns such as Inside bars and TBL/TBH give many many false signals on the 4hr and lower timeframes, and takes much more finesse.

See how nice it worked on the euro weekly chart. And look at how much less noise we have.

Best,
Mike

Quoting 1234
Hi all,
Just reviewing Friday's bars and looking towards next week start. Can not see any PBs on the daily that stand out but came across a Three Bar Low on the four hours 08.00, 12.00 and 16.00 for Friday each having the same low 0.6773 on the EUR/GBP. I read somewhere (not sure where now) that these bars could be considered rejection bars and I was going to jump in at the start of next week with a long.
But in the James16 thread, Three Bar Low is a sign to go short and better to enter on the break of the Three Bar Low 0.6773.
Looking for other clues, there is, to me, strong resistence at 0.6800 and the price should open just below the daily pivot point on Monday at 0.6781 There is also a daily trend up since June 29 on the daily's. I find these clues confusing.
Anyway, what do others think of this possible trade for next week of going short on the break on the Three Bar Low rather than looking for a long.
All the best with price action trading for the start of next week. Ray
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  • #4,585
  • Jul 14, 2007 6:21am Jul 14, 2007 6:21am
Here you see a picture of actual german DAX Situation. It cracked the 7 year high of 8139 points ( 8200 in future at the moment ). Jim what would you say, is it a bullish scenario ? Any other comments welcome too !!!! Thanx and regards. Roger
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  • #4,586
  • Jul 14, 2007 10:46am Jul 14, 2007 10:46am
chateauboy
i think a gap in a trend shoud be refilled, i mean trend should go down (somewhere) to fill that gap.
thanx
  • #4,587
  • Jul 14, 2007 11:02am Jul 14, 2007 11:02am
hi, guys
i'm here in the thread for almost 4 days ,i back tested it, i tryed in demo, i founded splended,reliable in most trades,what buzzules me is how can i use the MAs and BB, TP,I'M WORKING ON IT TRY TO FIND A WAY TO DECIDE WHERE IS TP SUPPOSE TO BE SET, BUT AT LAST IT'S GREAT THREAD AND WELL DONE JOB,MOST OF ALL I'M HAPPY WITH IT ,THANX TO THE FOUNDER.
ATEF
  • #4,588
  • Jul 14, 2007 11:29am Jul 14, 2007 11:29am
http://i7.tinypic.com/63sexbc.gif
talk to me people
100% of traders are losers. Just that some win more than they lose!
  • #4,589
  • Jul 14, 2007 11:50am Jul 14, 2007 11:50am
Quoting Chateauboy
Here you see a picture of actual german DAX Situation. It cracked the 7 year high of 8139 points ( 8200 in future at the moment ). Jim what would you say, is it a bullish scenario ? Any other comments welcome too !!!! Thanx and regards. Roger
It's DEFINETLY a bullish scenario.

Whether that means it's a high probability setup to go long, is a completely different question.

Jim teaches us to find bar setups that point to either a great place to jump on board a trend or a possible reversal of a trend in progress.

The best position to enter long in the Dax was on Wednesday when there was a pin bar. I wrote my reasons for entering this a few posts back.

If you are not already in this, I would be flat - watching to see where it goes.

Just my thoughts.

Wiz
  • #4,590
  • Jul 15, 2007 9:31am Jul 15, 2007 9:31am
Hi guyz,

Here is pics of GBPUSD, GBPJPY, USDJPY Daily which I think is DBHLC. Any comment please? I'm still new to this price action.


Regards,
asen
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  • #4,591
  • Jul 15, 2007 11:46am Jul 15, 2007 11:46am
Quoting asen
Hi guyz,

Here is pics of GBPUSD, GBPJPY, USDJPY Daily which I think is DBHLC. Any comment please? I'm still new to this price action.


Regards,
asen
None of them are. You have the DBH part, but not the LC. Meaning the 2nd bar needs to close outside (below) the previous bar.
  • #4,592
  • Jul 15, 2007 12:32pm Jul 15, 2007 12:32pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Hi asen and welcome,
I am a baby student myself, so just take it as someone's view only no more.
For a DBHLC and DBLHC setup the closing of the bar on the right has to be OUTSIDE the entire bar on the left.
So in the case of DBHLC the bar on the right has to close BELOW the entire bar on the left to it while both have the exact same high (preferable) . 1-2 pips difference on daily and higher TF is acceptable.

BTW what applies for the PB location I personally apply it for other setups like DBHLC and DBLHC, if you want to read about that you can from one of the great masters of PA ... Mike (mbqb11) at
http://www.forexfactory.com/showpost...postcount=3914

Good luck
  • #4,593
  • Jul 15, 2007 1:44pm Jul 15, 2007 1:44pm
Quoting mbqb11
Hey mamutot, my answers in bold

remember these are just some of my thoughts. In the end it is up to the individual.

Have a good weekend,
Mike
Hi Mike and Mamutot, could you help me here, what is I4B and IB, thanks, dan
  • #4,594
  • Edited Jan 4, 2010 9:03pm Jul 15, 2007 1:54pm | Edited Jan 4, 2010 9:03pm
Quoting dltvn
Hi Mike and Mamutot, could you help me here, what is I4B and IB, thanks, dan
Hey Dan,



and IB is just an inside bar. An inside bar is when the current bar is contained within the previous bars range. So the current bar from high - low is smaller then the previous bars high-low(range)

And I4b = an inside 4 bar, where the current bar has a smaller range, then the previous 3 bars, and is contained within the previous bars high - low.


hope that helps,
Mike
  • #4,595
  • Jul 15, 2007 2:27pm Jul 15, 2007 2:27pm
Speaking of I4B and Inside Bars, here's a nice example of a current I4B for GBPCHF.
I like it when the bars wind up by having the range get smaller and smaller.
As you can see in this example, each bar is smaller than the previous one which shows price is consolidating. Usually this pattern signals a strong break to either side. This could be a good trade.

Tom
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  • #4,596
  • Jul 15, 2007 2:30pm Jul 15, 2007 2:30pm
Quoting moneybags
Speaking of I4B and Inside Bars, here's a nice example of a current I4B for GBPCHF.
I like it when the bars wind up by having the range get smaller and smaller.
As you can see in this example, each bar is smaller than the previous one which shows price is consolidating. Usually this pattern signals a strong break to either side. This could be a good trade.

Tom
I 'hope' it's up, I've been holding 5 positions since before my holiday . The little bit of + swap just ain't doing it.
  • #4,597
  • Jul 15, 2007 7:43pm Jul 15, 2007 7:43pm
Quoting mbqb11
Hey Dan,



and IB is just an inside bar. An inside bar is when the current bar is contained within the previous bars range. So the current bar from high - low is smaller then the previous bars high-low(range)

And I4b = an inside 4 bar, where the current bar has a smaller range, then the previous 3 bars, and is contained within the previous bars high - low.

An I4b you can read on this post
http://forexfactory.com/showpost.php...01&postcount=2


hope that helps,
Mike
Thanks Mike, I was just not sure about this abbriv. of the terms, thanks for your help, being new here on this forum brings such silly questions. Dan
  • #4,598
  • Jul 15, 2007 11:55pm Jul 15, 2007 11:55pm
Quoting mbqb11
Hey ray,

Matching lows/highs can be great ways to play breakouts or continuations. But my recommendation is to find these patterns on the daily and higher charts. This raises our confidence level much better on these higher timeframes. Patterns such as Inside bars and TBL/TBH give many many false signals on the 4hr and lower timeframes, and takes much more finesse.

See how nice it worked on the euro weekly chart. And look at how much less noise we have.

Best,
Mike
Thanks Mike for your suggestions. I will stay with PBs on the 4HR and Daily, and leave the IBs and TBL/TBH for the daily and weekly charts.
Warm Regards Ray
  • #4,599
  • Jul 16, 2007 12:14am Jul 16, 2007 12:14am
I know it's been said before, but as I was browsing some of the very trending pairs (like NZDJPY, etc), I saw many pins against the trend direction that failed, because the direction of the trend is so steeply upwards. So while sometimes we may be looking for pins to indicate a trend reversal, the thing is we never know it's a swing high/low until after the fact, and a pin in the direction of the trend is much safer.
  • #4,600
  • Edited 2:53am Jul 16, 2007 2:42am | Edited 2:53am
Quoting moneybags
Speaking of I4B and Inside Bars, here's a nice example of a current I4B for GBPCHF.
I like it when the bars wind up by having the range get smaller and smaller.
As you can see in this example, each bar is smaller than the previous one which shows price is consolidating. Usually this pattern signals a strong break to either side. This could be a good trade.

Tom

This pair has just been one big migraine *g*
Basically the last 4 weeks have said 2x bearish PB, 2x bullish quasi-PB. Great, there's a lot of direction for ya. Monthly is currently a 266 pip IB so far as well.

The reason for this is obvious - with the massive USD selloff USDCHF periodically gets under pressure, which in turn drops GBPCHF. Then there's retracements, which are overemphasized on USDCHF, so it rises again.

As long as there's no clear outcome or a big "hold" on USDCHF while GBPUSD rises away merrily or a giant surge in USDCHF as GBPUSD only weakens gently, I don't know what's up with this one.
As a carry trade it most obviously favors the upside, but until it clears 2.4565 / 2.4600 decisively this thrash between 2.4555 and 2.4300 is just rather ugly. I'm staying away, these sort of IBs right inside the middle of ranges aren't as safe to play as the breakout of the whole range and that in turn would be gigantic.

"Good" IBs are the ones like USDJPY a week ago which was one bar, small and smack dab on s/r. This here is simply middle stuff and one mantra I repeated over and over and over again even in my noobie phases (even if not always following it) was: NEVER EVER ENTER IN THE MIDDLE.

Mileage may vary, different strokes for different folks, we're moving on up...oh. Er, well, you get the idea

Just my personal perspective, not any recommendation.

BTW the arrows point at s/r spots to illustrate flips, not at bars / setups.
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