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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

  • #5,701
  • Aug 29, 2007 5:07pm Aug 29, 2007 5:07pm
The dreaded tea cup is not encompassed in my "Arcane Book of Bar Price Action"
"Please sir, may I have some more pips?"
  • #5,702
  • Aug 29, 2007 5:56pm Aug 29, 2007 5:56pm
Mike, are you looking for a pinbar on the 1 or 4 hour charts to pinpoint an entry into the bullish outside bars seen all over the dailies today?

j

Quoting mbqb11
yeah a buob(bullish outside bar) is when the bar has a low lower then the previous bar, and it closes in the top portion of the bar. I personally like to see them close higher then the previous bars high, that is a strong one to me.


Mike
  • #5,703
  • Aug 29, 2007 5:57pm Aug 29, 2007 5:57pm
Quoting J2FcM
The dreaded tea cup is not encompassed in my "Arcane Book of Bar Price Action"
It's a common fx pattern though. Basically means: Pin Bar with retrace


And NF = North Finance. Their daily bars already closed by now, InterbankFX closes in 1h.

And yes, there's basically the same long setup on almost every carry, major and exotic pair. We're all slaves to the DJI, that did the same thing, so we're all now looking the same today.

Choose well, choose wisely. Don't overstake.
Trust price. Know yourself.
  • #5,704
  • Aug 29, 2007 6:00pm Aug 29, 2007 6:00pm
Quoting Johnnyl
Mike, are you looking for a pinbar on the 1 or 4 hour charts to pinpoint an entry into the bullish outside bars seen all over the dailies today?

j
I make all decisions on the same timeframe. So if I decided to long a BUOB on the daily, I play a break of the high and my stop goes underneath the low. I like to keep each individual timeframe separate and enter and exit on it. It helps me from analysis paralysis


Mike
  • #5,705
  • Aug 29, 2007 10:38pm Aug 29, 2007 10:38pm
Anyone took took this PB? It could be worth few pips .
Time to buy some long term calls..SL ?

.
Attached Image
  • #5,706
  • Aug 30, 2007 1:37am Aug 30, 2007 1:37am
Quoting raczekfx
Anyone took took this PB? It could be worth few pips .
Time to buy some long term calls..SL ?

.

i did, when it first broke the high of the pb - since then i was expecting it about 6 times to stop me out, well - it didnt, eventhough i set my sl at the left eye low.

hope it moves upwards - it seems as it is right now, i will look for a PA setup to enter in another position


Michael
  • #5,707
  • Aug 30, 2007 2:52am Aug 30, 2007 2:52am
I am definatley seeing the GBP_JPY as a DBLHC on my chart or am I wrong ????
It needs to break that area of 234.50 to get going as it is hitting a strong support area and the 50 fib and 61 fib levels.......
Attached Image (click to enlarge)
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  • #5,708
  • Aug 30, 2007 2:55am Aug 30, 2007 2:55am
Went in on the break of the support area of 23238 on yesterdays DBLHC early this morning will have to wait and see if this one pans out......
Attached Image (click to enlarge)
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  • #5,709
  • Aug 30, 2007 10:05am Aug 30, 2007 10:05am
Mimas, I just took this trade from the daily BUOB. Entry, 232.24 using the 4hr.
Dion
  • #5,710
  • Aug 30, 2007 10:21am Aug 30, 2007 10:21am
Quoting HipsterPipster
Mimas, I just took this trade from the daily BUOB. Entry, 232.24 using the 4hr.
Dion
Great trade HP, I was looking at the same but didn't trust the 4H and still waiting for the Daily TBH to be broken before I enter. The LT trend is down and that is the reason for my hesitation.
  • #5,711
  • Aug 30, 2007 10:23am Aug 30, 2007 10:23am
Quoting dltvn
Great trade HP, I was looking at the same but didn't trust the 4H and still waiting for the Daily TBH to be broken before I enter. The LT trend is down and that is the reason for my hesitation.
I quickly moved to BE, and now am waiting for it to break the upper resitence. This beast moves so quick.
Dion
  • #5,712
  • Aug 30, 2007 10:56am Aug 30, 2007 10:56am
Quoting HipsterPipster
I quickly moved to BE, and now am waiting for it to break the upper resitence. This beast moves so quick.
Dion
I don't know if it will break the daily TBH or if it will pass the PP that I marked right above it ?????? Your 4H setup shows a good PB and if this is the direction than we can possibly see it go much further down. What do you think?
  • #5,713
  • Aug 30, 2007 11:15am Aug 30, 2007 11:15am
Quoting dltvn
I don't know if it will break the daily TBH or if it will pass the PP that I marked right above it ?????? Your 4H setup shows a good PB and if this is the direction than we can possibly see it go much further down. What do you think?
I am still in, but it needs to break that upper resistence trendline on daily. I am currently watching a nice pin bar forming on the 1Hr for a short. hmmm :-). I think it may retest my upper trendline again.
  • #5,714
  • Aug 30, 2007 11:20am Aug 30, 2007 11:20am
Quoting HipsterPipster
I quickly moved to BE, and now am waiting for it to break the upper resitence. This beast moves so quick.
Dion
Dion, I have just noticed two more things that should be mentioned.
1. on the 4H the 150 EMA is sitting right on top my PPZ (PP around 235.00)
and that suggests that it might bounce from there.
2. on the Daily, in the last week, price have been trapped between the 365 &150 EMAs and the 25EMA is just touching my PP (235.00), quite interesting and a strong confluence on top. Dan
  • #5,715
  • Aug 30, 2007 11:25am Aug 30, 2007 11:25am
Quoting HipsterPipster
I am still in, but it needs to break that upper resistence trendline on daily. I am currently watching a nice pin bar forming on the 1Hr for a short. hmmm :-). I think it may retest my upper trendline again.
I just stay away from the 1H charts, too much noise for me, I mostly look at the Daily, Weekly and the 4H . But that's me ...... too conservative and probably missing a lot of the early actions but it suites my idea of "safe" trading. Dan
  • #5,716
  • Aug 30, 2007 11:30am Aug 30, 2007 11:30am
Pin bar on the 30...? Who knows what this thing is doing. My ? is should I take my profit and run?
  • #5,717
  • Aug 30, 2007 11:42am Aug 30, 2007 11:42am
Quoting HipsterPipster
Pin bar on the 30...? Who knows what this thing is doing. My ? is should I take my profit and run?
For me right now is a time to seat on my hands and wait till the PA is telling me in what direction it wants to move and that is what I am doing with the Gbp/Jpy pair. LOL, Dan
  • #5,718
  • Aug 30, 2007 11:45am Aug 30, 2007 11:45am
Quoting raczekfx
Anyone took took this PB? It could be worth few pips .
Time to buy some long term calls..SL ?

.
Don't look at me, I'm bearish USD again until proven incorrect...I sold USDCAD today at 1.0620 and moved stop to 1.0610. Either it goes to 1.02 or it doesn't, but that's where I prefer to aim(after surviving 1.0450 / 1.04) until 1.3550 EURUSD dies and 81.20 USDX gets exceeded. (USDX has the identical price pattern as USDCAD, a potential head and shoulders. So far the neck has not been broken yet. Roughly 1.37 - 1.3780 EURUSD would do it though and 1.38 possibly for good..)

Oops, gotta run, them carry trades are exploding
Trust price. Know yourself.
  • #5,719
  • Aug 30, 2007 11:52am Aug 30, 2007 11:52am
Btw, sometimes it can be very interesting to look back on how old posted charts fill out.

I posted this one / charts with an 220/221 target around the 8-14th of August I believe...at least that's what timestamp and date on my gifs are saying(we were at 235 at the time).

Always dare to dream.

Here's how it filled out =)
Attached Image
Trust price. Know yourself.
  • #5,720
  • Aug 30, 2007 11:57am Aug 30, 2007 11:57am
Ok, to keep from having ulcers, I closed out at 233.85.
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