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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

  • #9,721
  • Mar 29, 2008 4:06am Mar 29, 2008 4:06am
Quoting jarroo
Your #3 Pin Bar was also at the 61.2 fib and trendline (after retrace). Talk about confluence!

I was able to catch this one and still have a partial position at the 1.9770 entry (near the 61.2 fib).

Always great to here from you, Jim. I'll see you in your website soon, my brother.
Hi Jarroo!
I got the same setup
Profittarget @ 1.9360?
  • #9,722
  • Mar 29, 2008 4:39am Mar 29, 2008 4:39am
Quoting suspect
Hi Jarroo!
I got the same setup
Profittarget @ 1.9360?
My targets for profit and exits are not based on fib levels. Unless they are aligned with Price Action.

Just as our entry was based on a confluence of events (in this case, a bullish trade), my exit will be base on bearish Price Action with confluences.
I will usually look to the 4 hour chart for Price Action profit tagets and exits if my entry was based on the Daily chart.
Indicators show the past. Price Action "Indicates" the future.
  • #9,723
  • Mar 29, 2008 4:47am Mar 29, 2008 4:47am
Quoting james16
chart
James,
I have a question about chart, please see below chart?
Thank you.

Cheers
Aihua
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 35 KB
Rhythm, Motion, Emotion and Risk Reward.
  • #9,724
  • Mar 29, 2008 4:52am Mar 29, 2008 4:52am
Quoting aihua5
James,
I have a question about chart, please see below chart?
Thank you.

Cheers
Aihua
Those small bars (3-09-08 & 3-16-08) are Sunday Bars and they are ignored.
Indicators show the past. Price Action "Indicates" the future.
  • #9,725
  • Edited 5:25am Mar 29, 2008 5:11am | Edited 5:25am
Quoting jarroo
Those small bars (3-09-08 & 3-16-08) are Sunday Bars and they are ignored.
Hi jarroo,

Thanks for your answer. Do you mean the price aciton is not appropriate for the Friday-Monday bars?

I found that you used the Interbank fx MT4 platform but I used the Metaquotes MT4 platform to view the chart.

You can find the first false bearish outside bar is on 10-3-2008(which is Monday). Must I use the Interbank fx MT4 platform to watch the price chart?
The first small bar is 7-3-2008(Friday).

Cheers
Aihua
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.gif Size: 35 KB
Click to Enlarge Name: cable1.gif Size: 34 KB
Rhythm, Motion, Emotion and Risk Reward.
  • #9,726
  • Mar 29, 2008 5:31am Mar 29, 2008 5:31am
Quoting aihua5
Hi jarroo,

Thanks for your answer. Do you mean the price aciton is not appropriate for the Friday-Monday bars?

I found that you used the Interbank fx MT4 platform but I used the Metaquotes MT4 platform to view the chart.

You can find the first false bearish outside bar is on 10-3-2008(which is Monday). Must I use the Interbank fx MT4 platform to watch the price chart?

Cheers
Aihua
Price Action is appropriate for Fri.-Mon. bars. Your data feed will vary on different demo platforms, but Price Action will usually balance out.

The Bearish Outside Bar on 3-10-08 (which is outside of Friday's bar 3-07-08) did provide some down movement of about 50+ pips. I would not say this was a false signal. It would have told me that the uptrend is very strong.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #9,727
  • Mar 29, 2008 5:40am Mar 29, 2008 5:40am
Quoting aihua5
James,
I have a question about chart, please see below chart?
Thank you.

Cheers
Aihua
Here's an explanation
Attached Image (click to enlarge)
Click to Enlarge Name: gbpt.gif Size: 29 KB
  • #9,728
  • Mar 29, 2008 5:53am Mar 29, 2008 5:53am
Quoting jarroo
Price Action is appropriate for Fri.-Mon. bars. Your data feed will vary on different demo platforms, but Price Action will usually balance out.

The Bearish Outside Bar on 3-10-08 (which is outside of Friday's bar 3-07-08) did provide some down movement of about 50+ pips. I would not say this was a false signal. It would have told me that the uptrend is very strong.
Jarroo,
Yes, you are right. The first bearish outside bar get +50 pips. But the second bearish outside bar is not lucky as the first.

In fact I am not against anyone. I just would like to know how to avoid the some not very good price action bars.

Thanks.

Aihua
Rhythm, Motion, Emotion and Risk Reward.
  • #9,729
  • Edited 6:10am Mar 29, 2008 5:57am | Edited 6:10am
Quoting aihua5
Hi jarroo,

Thanks for your answer. Do you mean the price aciton is not appropriate for the Friday-Monday bars?

I found that you used the Interbank fx MT4 platform but I used the Metaquotes MT4 platform to view the chart.

You can find the first false bearish outside bar is on 10-3-2008(which is Monday). Must I use the Interbank fx MT4 platform to watch the price chart?
The first small bar is 7-3-2008(Friday).

Cheers
Aihua
Hi Aihua,

You trade whatever you see on your screen. It's the same information, shown a little differently. If you see the right PA and it's strong, it's still representative of the bull/bear fight that took place during that time/bar.

And to add to what Jarroo has shown, (if he don't mind)... :

The number one thing to look at before you trade ANY price action is the current support / resistance outlook for your chart. ...That's including confluence of support/resistance given to you by fib retracements, MAs , Trendlines or whatever. These not only provide confirmation for a trade, but can often give you a reason NOT to trade if a strong confluence is on the wrong side of entry.

Would you sell a Bearish Outisde Bar if it stopped and closed at the exact same bottom point as the chart did twice in the past week ? No... You wouldn't! (or shouldn't. )

James has been trading so long that he knows which situations have the best chance of giving him a winning trade.

When he says "2. Bearish Outside Bar from extreme high" , he knows from experience that he has good distance from the moving averages and the price formations that have shown support etc around the signal.

...breathing room.

I've posted another version of the chart with ideas on what would stop me taking those other trades. (my opinion. ...
Attached Image
Bundy's status today: "Waiting..."
  • #9,730
  • Mar 29, 2008 5:59am Mar 29, 2008 5:59am
LOL!! Everyone beat me! :

That's awesome!

...See how many people are ready to jump in and help here??

Best forum. Best thread!
Bundy's status today: "Waiting..."
  • #9,731
  • Mar 29, 2008 5:59am Mar 29, 2008 5:59am
Upcoming..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpt2.gif Size: 32 KB
  • #9,732
  • Edited 6:28am Mar 29, 2008 6:14am | Edited 6:28am
Quoting aihua5
Jarroo,
Yes, you are right. The first bearish outside bar get +50 pips. But the second bearish outside bar is not lucky as the first.

In fact I am not against anyone. I just would like to know how to avoid the some not very good price action bars.

Thanks.

Aihua
Not sure if I'm on the same page as you and bundy. The 2nd Bearish Outside Bar showed the way down.?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #9,733
  • Mar 29, 2008 6:14am Mar 29, 2008 6:14am
Quoting phn
Upcoming..
Hi phn,

Thanks for your chart and explanation which are excellent. But I still have one question.

As you said, you take the S/R into account. Yes, I can not agree with you more including the S/R analysis.

But if we consider the S/R, the first true bearish outside bar should be given up but not be taken.

What is your idea?

Cheers,
Aihua
Attached Image (click to enlarge)
Click to Enlarge Name: calbe2.gif Size: 40 KB
Rhythm, Motion, Emotion and Risk Reward.
  • #9,734
  • Mar 29, 2008 6:21am Mar 29, 2008 6:21am
Quoting phn
Upcoming..
The trend line and 365ema may have something to say about that first, Mr. phn.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #9,735
  • Mar 29, 2008 6:24am Mar 29, 2008 6:24am
Quoting bundyraider
Hi Aihua,

You trade whatever you see on your screen. It's the same information, shown a little differently. If you see the right PA and it's strong, it's still representative of the bull/bear fight that took place during that time/bar.

And to add to what Jarroo has shown, (if he don't mind)... :

The number one thing to look at before you trade ANY price action is the current support / resistance outlook for your chart. ...That's including confluence of support/resistance given to you by fib retracements, MAs , Trendlines or whatever. These not only provide confirmation for a trade, but can often give you a reason NOT to trade if a strong confluence is on the wrong side of entry.

Would you sell a Bearish Outisde Bar if it stopped and closed at the exact same bottom point as the chart did twice in the past week ? No... You wouldn't! (or shouldn't. )

James has been trading so long that he knows which situations have the best chance of giving him a winning trade.

When he says "2. Bearish Outside Bar from extreme high" , he knows from experience that he has good distance from the moving averages and the price formations that have shown support etc around the signal.

...breathing room.

I've posted another version of the chart with ideas on what would stop me taking those other trades. (my opinion. ...
Hi Bundyraider
Thanks for you long and wonderful explanation.
I agree with you.
I think we should not take the first bullish outside bars as james taked.
I have ask the same question as to phn.
Do you agree with me about the first bullish outside bars judgement?

Cheers
Aihua
Rhythm, Motion, Emotion and Risk Reward.
  • #9,736
  • Mar 29, 2008 6:27am Mar 29, 2008 6:27am
Quoting aihua5
Hi phn,

Thanks for your chart and explanation which are excellent. But I still have one question.

As you said, you take the S/R into account. Yes, I can not agree with you more including the S/R analysis.

But if we consider the S/R, the first true bearish outside bar should be given up but not be taken.

What is your idea?

Cheers,
Aihua
You may enter bullish outside bars like this one either on retracement or break. Here, since we are somewhat ranging/consolidating, the safer way is to get in on the break of the high, which is also here the break of the S/R area. So it was a valid entry since we've got a nice PA just before the break.
For more conservative players it may not be a sufficient criteria. You could better wait for a retracement to the area before going long.
  • #9,737
  • Mar 29, 2008 6:31am Mar 29, 2008 6:31am
Quoting jarroo
The trend line and 365ema may have something to say about that first, Mr. phn.
This trendline looks better to me
Attached Image
  • #9,738
  • Mar 29, 2008 6:43am Mar 29, 2008 6:43am
Quoting phn
This trendline looks better to me
Trendline or S/R, I don't give much credit to demo data feed. I'm not that precise.

Like Jim's #2 example of the Bearish Outside Bar. I would call it a DBHLC, which is a strong Price Action formation at a new (short term) high. And it proved to be a strong move down. IMO.

What ever gets you to the positive pips.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #9,739
  • Mar 29, 2008 6:52am Mar 29, 2008 6:52am
hi dear jarroo
h r u?
  • #9,740
  • Mar 29, 2008 6:54am Mar 29, 2008 6:54am
Quoting hussin naiji
hi dear jarroo
h r u?
Good my friend. How are you?
Indicators show the past. Price Action "Indicates" the future.
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