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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

  • #8,781
  • Jan 17, 2008 2:11am Jan 17, 2008 2:11am
Quoting ratherbesailing
Would like comment on this set up(SL,MBQ,Raczek......... ). Is this valid??

Of interest to me is Fozzy trigger with healthy divergence @ Double Bottom.

Regards

RBS
i used to look like that on bars, but why wouldnt you take it further?

if there are 3 bars, wait for the week to close - if that is a good trade you will see a weekly PB..
  • #8,782
  • Jan 17, 2008 2:14am Jan 17, 2008 2:14am
Quoting ratherbesailing
Would like comment on this set up(SL,MBQ,Raczek......... ). Is this valid??

Of interest to me is Fozzy trigger with healthy divergence @ Double Bottom.

Regards

RBS
Hey RBS

the last bar on it's own is a BUOB, or a Bullish outside bar. Price went down lower then the previous bars low , and closed higher then the previous bars high. Also a reversal bar like a pinbar

Mike
  • #8,783
  • Jan 17, 2008 2:24am Jan 17, 2008 2:24am
Quoting sevejose
What do you think about the daily pin on gj , I see confluence at the bottom of the channel with the 150 monthly, weekly 365 and monthly ppz. Any thoughts ? is the pressure to strong to keep pushing down?
I am weary of any longs on the xxx/jpy pairs

On my charts the actual bar itself isn't the greatest pin(I am on NF feed). The reason being the body is nearly the same size as the nose. Not a good looking pinbar. The cad/jpy is the one that caught my attention the most. The pinbar itself would have been a lot nicer if we had a higher close. But the reason it caught my attention most is because of the support it has arrived to again marked on chart.
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  • #8,784
  • Jan 17, 2008 2:40am Jan 17, 2008 2:40am
Quoting mbqb11
Hey RBS

the last bar on it's own is a BUOB, or a Bullish outside bar. Price went down lower then the previous bars low , and closed higher then the previous bars high. Also a reversal bar like a pinbar

Mike
Dito
Trust price. Know yourself.
  • #8,785
  • Jan 17, 2008 3:42am Jan 17, 2008 3:42am
Thanks for the reply Gents,

I've pretty well done this thread from start to finish, bookmarked so many pages, so correct me if i'm wrong here but I can't recall James, SL or MBQM using a BUOB/BEOB as a reversal bar, only pins. I was aware of the BUOB hence the question on a 3 Bar Pin. I have really understood OB's as a continuation trigger/signal.

For me this trade had every tick in the box(Fozzy,Divergance,Significant Support) but no valid trigger. Part of my rules are that I can only trade against the trend if I have a) Pin or b) a Reversal Pattern with a trigger(like the 4hr#EPH8 chart I posted a couple of days ago). So I am very interested in your thoughts as I certianly would consider adding the 3BPin to the arsenal.

As it worked out, I had a valid 4hr entry which has worked out alright.

Thanks for your thoughts in advance

Regards

RBS
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  • #8,786
  • Jan 17, 2008 4:47am Jan 17, 2008 4:47am
Quoting ratherbesailing
Thanks for the reply Gents,

I've pretty well done this thread from start to finish, bookmarked so many pages, so correct me if i'm wrong here but I can't recall James, SL or MBQM using a BUOB/BEOB as a reversal bar, only pins. I was aware of the BUOB hence the question on a 3 Bar Pin. I have really understood OB's as a continuation trigger/signal.

For me this trade had every tick in the box(Fozzy,Divergance,Significant Support) but no valid trigger. Part of my rules are that I can only trade against the trend if I have a) Pin or b) a Reversal Pattern with a trigger(like the 4hr#EPH8 chart I posted a couple of days ago). So I am very interested in your thoughts as I certianly would consider adding the 3BPin to the arsenal.

As it worked out, I had a valid 4hr entry which has worked out alright.

Thanks for your thoughts in advance

Regards

RBS

Outside bars as taught by james are best played as reversal bars. That is, at swing highs and swing lows like pinbars. Just like all the other price bars, they can work in many different conditions and one has to get used to defining when and where these bars work best for their methods. James just did an excellent video on Outside bars this week, and right before the OBRs give out many good pips on the daily timeframes.

Personally I trade pinbars more then any other bar simply b/c I have spent so much time incorporating it into my trading plan. But a good OBR at a spot where we might look for a pin can be just as deadly. We have to remember often times these bars are telling us the same story with a slightly different look. That is why on one broker feed you might have a pinbar, and on the other an outside bar. Same story, different cover page

Take care
Mike
  • #8,787
  • Jan 17, 2008 4:50am Jan 17, 2008 4:50am
Dont know if anyone has mentioned this book but i got it recently and its pretty good. based on the T-bonds but will translate to pretty much any market. Price Action Trading: Day-trading the T-bonds Off PAT
http://www.amazon.co.uk/Price-Action...0567002&sr=8-1
  • #8,788
  • Jan 17, 2008 8:36am Jan 17, 2008 8:36am
Quoting mbqb11
Outside bars as taught by james are best played as reversal bars. That is, at swing highs and swing lows like pinbars. Just like all the other price bars, they can work in many different conditions and one has to get used to defining when and where these bars work best for their methods. James just did an excellent video on Outside bars this week, and right before the OBRs give out many good pips on the daily timeframes.

Personally I trade pinbars more then any other bar simply b/c I have spent so much time incorporating it into my trading plan. But a good OBR at a spot where we might look for a pin can be just as deadly. We have to remember often times these bars are telling us the same story with a slightly different look. That is why on one broker feed you might have a pinbar, and on the other an outside bar. Same story, different cover page

Take care
Mike
When I looked at USD-CHF daily I have several questions:
1. After PIN Bar on 15 Jan, the next day price broke below PB first
and after that broke upper PB.

Do you trade this PB when price broke upper PB ? because before price
broke up, price broke below PB first?

2. On 16 January it form BUOB after 15 January PB.
If price broke upper BUOB do you trade? or if there is PB and BUOB side by side then no trade.

Thanks!
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  • #8,789
  • Jan 17, 2008 9:22am Jan 17, 2008 9:22am
Hi all,

Hope someone can help me there.
Is the the current 2 daily bars now for EUR/USD be considered as an IB or dble btm @ resistance zone? It doesnt seems like a dble btm as in a middle of traffic?

Thanks in advance.
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  • #8,790
  • Jan 17, 2008 10:23am Jan 17, 2008 10:23am
Here is my daily chart from Fxdd meta trader chart.

I don't see an outside bar. Is it due to difference in data feed.
If yes, is there a more reliable source for meta trader for analysis purposes.

Thanks,
TradeStar
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #8,791
  • Jan 17, 2008 2:08pm Jan 17, 2008 2:08pm
Quoting TradeStar
Here is my daily chart from Fxdd meta trader chart.

I don't see an outside bar. Is it due to difference in data feed.
If yes, is there a more reliable source for meta trader for analysis purposes.

Thanks,
TradeStar
Hey TS

One feed isn't more "reliable" then another, b/c they all show price doing the same thing. Just due to the nature of the timezones, will appear different. If you want to try different feeds, you can try InterbankFX(which is what James uses), or North Finance. I used to use multiple MT4 brokers and check them all to get a better view in case something wasn't jumping out at me. You can try that, but in the end I settled in on one broker just to keep things easier.


Take care
Mike
  • #8,792
  • Jan 17, 2008 2:12pm Jan 17, 2008 2:12pm
Quoting ellipses
Hi all,

Hope someone can help me there.
Is the the current 2 daily bars now for EUR/USD be considered as an IB or dble btm @ resistance zone? It doesnt seems like a dble btm as in a middle of traffic?

Thanks in advance.
Hey Ellipses if you are speaking of the currently daily eur/usd bar and yesterdays, we really need to see how it closes before making the analysis that we have a TBL(Two bar low), or an inside bar. By the looks of it price as already broke yesterdays low on your chart which would negate both those possibilities.

TBL would signify support(although how strong of support depends on what else is around price).

Mike
  • #8,793
  • Jan 17, 2008 2:14pm Jan 17, 2008 2:14pm
Quoting jatis
When I looked at USD-CHF daily I have several questions:
1. After PIN Bar on 15 Jan, the next day price broke below PB first
and after that broke upper PB.

Do you trade this PB when price broke upper PB ? because before price
broke up, price broke below PB first?

2. On 16 January it form BUOB after 15 January PB.
If price broke upper BUOB do you trade? or if there is PB and BUOB side by side then no trade.

Thanks!
Hey Jatis,

Once the low of a pinbar is taken out, that would negate that pinbar, and I would cancel any pending long orders on it.

You can absolutely trade the BUOB if there was a PB the day before. Some like to think that makes that BUOB even better to trade, because price tried twice to make a move down and both times was rejected higher. The reason to trade the BUOB or not would come with your trade plan and if you believe the bar is in a good spot


Hope that helps
Mike
  • #8,794
  • Jan 17, 2008 2:37pm Jan 17, 2008 2:37pm
4 Hour PB just broke on GBP/USD, failed to break 50% fib retracement of 2.0102 high. Anyone else in this one?
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  • #8,795
  • Edited 3:04pm Jan 17, 2008 2:53pm | Edited 3:04pm
Just couldn't resist posting a followup on my dream charts.

I just love taking stabs at "guessing" markets ahead of time and trying to "see" the picture before it's drawn on the chart. I think only if you can imagine it, then you can trade it well
Not true of course and utter bollocks, but I need to have SOME fantasies left in my adult life!

Also as wiz said, it's nice to see followups on old stuff.

These charts are from:

August 2007 (this is actually the last / 3rd chart visible for some reason)
dji_futures_160807_dreaming_update.gif (that bounce I was pondering was sliiiiightly higher! lol )

November 2007(first chart visible)
dji_futures_271107_update_creative.gif (this was quite a good drawing, wasn't it)

Today(middle / 2nd chart)
dji_futures_080117_followup_to_dji_futures_271107_creative.gif (a replica of my crystal ball is for sale on ebay, starting bid is $100k )
I put the red vertical bar in where the last chart's drawing started


NostraSeekus strikes again! (well, at least from the November to today chart, the first one had the right idea - bounce and re-sell - but KIND OF underestimated the bounce lol)

Not sure about the bounce I drew in in November anymore though

Again - there is only so much the market can do...I was just making an educated pattern prediction guess..

Can anyone see why I am not touching any bullish carry trade setup with a 100 foot pole?

I also just realized what this type of thing means to most investors..it's frickin' huge moves on the chart..the dimensions are wowza..no wonder a lot of systems got thrown.



Now where's the competition's crystal ball producer's representative....raczekfx! Show your wares! I know you had some, too!
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Trust price. Know yourself.
  • #8,796
  • Edited 3:51pm Jan 17, 2008 3:16pm | Edited 3:51pm
Quoting Betard
4 Hour PB just broke on GBP/USD, failed to break 50% fib retracement of 2.0102 high. Anyone else in this one?
I wouldn't be surprised to see it hit 1.9850 soon. Just watch ppz if you took that short. Those are daily and weekly s/r lines as well....
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  • #8,797
  • Jan 17, 2008 3:27pm Jan 17, 2008 3:27pm
Quoting SeekingLight
Just couldn't resist posting a followup on my dream charts.

...
Way to go SL..
Aren't you a little surprised with x/chfs responses to equity selloff today?
It will be fun watching yen when Tokyo opens tonight..
  • #8,798
  • Jan 17, 2008 4:39pm Jan 17, 2008 4:39pm
Quoting raczekfx
Way to go SL..
Aren't you a little surprised with x/chfs responses to equity selloff today?
It will be fun watching yen when Tokyo opens tonight..

Nope..EURCHF will smack lower any second now(it's being chased) and GBPCHF is only resilient because EURGBP is diving. And EURUSD and EURGBP have to dive a bit to compensate for the fact that EJ is around, uhm, 600 pips too late to the party - compare the topping formations on GJ and EJ and you can see how lagged it is because of the "time machine" I call EURGBP.

So as long as EG dives, GC is tough to kick lower...but here again: compare EURCHF vs GBPCHF - EURCHF has a lot of catching up to do as well!

So no surprise for me

And I wish I didn't have to sleep
I am going to miss all the fun after seeing almost 0 reaction all day

Thought you'd put up some updated crystal ball charts, too...at the very least you had them for the DJI and GJ, too IIRC
Trust price. Know yourself.
  • #8,799
  • Jan 17, 2008 4:41pm Jan 17, 2008 4:41pm
Busy Busy Busy.
10% in 2 days if I had been using 1% per trade.
I used a little more than that.
Today is a good day to die.
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GOD IS NOT SHORT OF CASH
  • #8,800
  • Jan 17, 2008 5:10pm Jan 17, 2008 5:10pm
Quoting Swami S
Busy Busy Busy.
10% in 2 days if I had been using 1% per trade.
I used a little more than that.
Today is a good day to die.


The evil 15m!

Well done Swami!
But don't get addicted to the lure of the quick smash-and-grab 15

She is a treacherous mistress to keep..


Oh, but he is right of course, the new site is taking off faster than I would have ever imagined...Jim is really pumping all of his heart and energy into it...and everyone else is, too...the content is growing daily, literally.

Just have to say this, because really everyone is pulling forward and it's pretty incredible in a great way
Trust price. Know yourself.
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