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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

  • #2,261
  • Jan 23, 2007 12:53am Jan 23, 2007 12:53am
seek ur still holding your g/j too I hope :
  • #2,262
  • Jan 23, 2007 2:13am Jan 23, 2007 2:13am
Quoting mbqb11
seek ur still holding your g/j too I hope :


Yupp. Also still long EJ from 157.10. Also long EURUSD, short USDCHF and long USDJPY, altho the latter isn't doing so hot.

Attaching EURUSD reason. Daily IB, just popped weekly IB, too.
Hoping we don't get faked out. Gold and Oil up so far, USDCHF going to close below it's TL, too, so far.
So far, so good.....keep selling them dollars folks
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Trust price. Know yourself.
  • #2,263
  • Jan 23, 2007 3:00am Jan 23, 2007 3:00am
Was tempted to add to my EJ when I saw this but wanted to be cautious today. Still at boundaries of the larger ranges.
1.3049 and 1.3089-1.3100 on EURUSD seem tricky if we reach that today/tomorrow and don't just plop back down on our butts again

Attaching EJ mini-4h.
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Trust price. Know yourself.
  • #2,264
  • Jan 23, 2007 3:31am Jan 23, 2007 3:31am
good stuff seeking although my rules for over exposure to the dollar prevent me from some of the yummy profit now

I am still in this trade, but others could have got on for some pips. TBH even if you dont like to hold positions, these PA bars give some good quick pips. Just like seeking DBLHC on the E/J.

Mike

For those following the eur/aud, i am still long, but have adjusted my stops on many positions. Stop on eur/aud moved up to 6386 area.
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  • #2,265
  • Jan 23, 2007 8:17am Jan 23, 2007 8:17am
For those in a GBPUSD trade, what was your reason for holding long after the inside bar broke to the upside but didn't takeoff? If the daily would have closed confidently above the resistance I would see a good reason for holding onto it but that didn't happen.

I am working at getting a grasp on these inside bars since I have yet to develop an effective method of trading them.

Thanks
  • #2,266
  • Jan 23, 2007 8:20am Jan 23, 2007 8:20am
ciph I didn't take this IB, but You just gotta have confidence in them. If it fails it fails. I have learned to certainly not judge it by the first bar after one, and a good time not even the second bar. Also I know a lot of people play them and take profit or move stops up real quick. I do better when I let these things run.

Mike
  • #2,267
  • Jan 23, 2007 8:45am Jan 23, 2007 8:45am
Quoting cipher4d
For those in a GBPUSD trade, what was your reason for holding long after the inside bar broke to the upside but didn't takeoff?
Heya Cipher.
Simple. I view an IB as a crossroads now, or a railroad track toggle if you will.
That means the market can only go two ways from here on: above the IB or below it. I take the first signal that shows itself and until that light changes / signal reverses, it's on. The train can sometimes be a bit older and needs to start chugging and build steam first or it can be a monorail one, but in either case you need to give it some faith.

Have looked over some charts in the past and (important!) as long as the other side isn't invalidated a lot of IBs go the way they initially move out to.
I've survived the USDJPY dip by 5 pips even though I saw on 4h/1h that it was going down, now it's back up 40 pips. What can I say, IBs are a big gamble...but in this case nippy was 50 pips stop and cable barely 100. Looked good to go, too, as you can see I was originally planning to go long at 1.9720 before I killed the order

IBs are tricky, they're not everyone's favorite...

Maybe this explanation helps. Sorry, I got to run, my profits are melting like ice in the sunshine

Best regards,

SeekingLight
Trust price. Know yourself.
  • #2,268
  • Jan 23, 2007 9:50am Jan 23, 2007 9:50am
very intereting support and res on eur-aud is 1.6367.i try to look on the longer term.is that the reason you long?

Quoting mbqb11
I am also long on the eur/aud now 4 hr pin bar off resistance that goes back a ways. I am still learning to trade this pair. Gets real choppy, but usually will chop one way or the other. Pair doesnt shrink down enough to make it worth putting a picture up. But just check the daily chart for resistance and pin on the 4 hr.

Best,
Mike
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  • #2,269
  • Jan 23, 2007 9:55am Jan 23, 2007 9:55am
Yes indeed. We had a pin bar off this area. Stop is moved up though thoo .1.6387. Also I closed out of my aud/cad but did not take the 4 hr pin reverse.


Mike
  • #2,270
  • Jan 23, 2007 10:35am Jan 23, 2007 10:35am
This is USD-CHF 4H chart.there is a potential candle develop into DBLHC.any comment?
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  • #2,271
  • Jan 23, 2007 11:01am Jan 23, 2007 11:01am
Quoting parlenk
This is USD-CHF 4H chart.there is a potential candle develop into DBLHC.any comment?
This would not be a DBLHC. A Double Low Higher close is when the Lows are the same and the close is higher then the previous bars high. Let me know if you want me to post some examples.

Best,
Mike
  • #2,272
  • Jan 23, 2007 11:07am Jan 23, 2007 11:07am
well it on 4H chart.according to jim not always exact the same price ..so +/- 2 point it's still ok..but hey..on the daily chart move to another direction...

Quoting mbqb11
This would not be a DBLHC. A Double Low Higher close is when the Lows are the same and the close is higher then the previous bars high. Let me know if you want me to post some examples.

Best,
Mike
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  • #2,273
  • Jan 23, 2007 11:09am Jan 23, 2007 11:09am
This is correct, but on the 4hr swiss there is nothing even close to a DBLHC. Unless I am misunderstanding the chart you were asking?

Mike
  • #2,274
  • Jan 23, 2007 11:19am Jan 23, 2007 11:19am
it's ibfx 4H.it will be diffrent from urs if you use another broker..but must me same on the daily chart since it's global (daily open and close).on the other time frame (less than daily) will be different mapping of chart.i will hold on daily then



Quoting mbqb11
This is correct, but on the 4hr swiss there is nothing even close to a DBLHC. Unless I am misunderstanding the chart you were asking?

Mike
  • #2,275
  • Jan 23, 2007 11:22am Jan 23, 2007 11:22am
I use IBFX and see no DBLHC on the 4hr swissy. Can u please post and circle the bars that you believe are making a DBLHC

Mike
  • #2,276
  • Jan 23, 2007 11:32am Jan 23, 2007 11:32am
here it comes.

info:the the previous candle:open=1.2404,close=1.2392
last candle:open 1.2393, close still in process (waiting another 28 minutes)..so i think it will be close lower than previous candle.as i said on my first post still waiting.. are we lost in this term of understanding somehow? the candle still not complete yet.if yes..my bad then

Quoting mbqb11
I use IBFX and see no DBLHC on the 4hr swissy. Can u please post and circle the bars that you believe are making a DBLHC

Mike
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  • #2,277
  • Jan 23, 2007 11:37am Jan 23, 2007 11:37am
Quoting parlenk
here it comes.

info:the the previous candle:open=1.2404,close=1.2392
last candle:open 1.2393, close still in process (waiting another 28 minutes)..so i think it will be close lower than previous candle.as i said on my first post still waiting.. are we lost in this term of understanding somehow? the candle still not complete yet.if yes..my bad then
Hey Parlenk,

Well you are misunderstanding what the bar has to be. Instead of using the open from the last candle you need to use the LOW of that candle.

So when looking for a Double Low Higher Close.

Bar 1 Low should equal bar 2 low(give or take a few pips depending on time frame). And Bar 2's CLOSE should be higher then Bar 1s HIGH.

Does this clear it up. Here is what i mean in a chart, gimme a sec to post it.

Take care,
Mike
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  • #2,278
  • Jan 23, 2007 11:42am Jan 23, 2007 11:42am
Oow..ic.yes yes.i just read the first post of this thread.hehehe thx man.my bad.no wonder sometime smy candle pattern tell to go down but based on jim explanation ( the one that i understand before u awake me) tell to another side. phew..thx again

Quoting mbqb11
Hey Parlenk,

Well you are misunderstanding what the bar has to be. Instead of using the open from the last candle you need to use the LOW of that candle.

So when looking for a Double Low Higher Close.

Bar 1 Low should equal bar 2 low(give or take a few pips depending on time frame). And Bar 2's CLOSE should be higher then Bar 1s HIGH.

Does this clear it up. Here is what i mean in a chart, gimme a sec to post it.

Take care,
Mike
  • #2,279
  • Jan 23, 2007 11:57am Jan 23, 2007 11:57am
hi guys,

so is there any indicator to catch all those signal that developed so far? or just use manually by watching the chart?

parlenk
  • #2,280
  • Jan 23, 2007 12:18pm Jan 23, 2007 12:18pm
I know they have a few indicators around that give you bars that have the general requirments(a lot of the time they are WAYYY off), but I really don't even recommend doing that. The best is to train your eyes to recognize each and every bar. Soon they all will jump out at you. Then look for reasons to support playing that bar.

Best,
Mike
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