james16 Chart Thread

Quoting jarroo

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BUOVB on the Hourly at a trendline.

Pin Bar on the 4 hour at a trendline.

That was good good . . . . I mean . . .nice job.

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Quoting Flem26

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Hi gang,

I've started reading this thread for the 2nd time around (took me a month to get through the first time around). Thanks to James, Seek, Mike, Jaroo, and everyone else. I've been demoing since February and came across Forex Factory some time in March.

Price action rules! Hope to be in the private forum before 2008 is over.

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Quoting SeekingLight

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I've posted about this before. Getting a bearish reversal setup at the BOTTOM of the chart or a bullish one at the top of it is kind of pointless, as there is nothing to reverse. It's also very much selling into the low / buying the high of a chart, which simply is the lousiest r/r I can think of. This doesn't mean these things don't sometimes work out, but if we're trying to be in early, make the most out of a move and shift probability to our favor, it certainly won't do much good selling lows or buying highs.

There are people who say they like to "buy strength and sell weakness", but imho that's just another way of saying "I've no idea about PA so I am always terribly late".

IMHO our main advantage is getting a heads up as EARLY as possible, so being "late"(highs / lows) isn't very fashionable

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Quoting jarroo

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Check this out Aad.

BUllish Outside Vertical Bars and BEarish Outside Vertical Bars are very tradable at swing highs and lows.

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Quoting SeekingLight

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Repeating this as the posted charts show a similiar dilemma imho. EURUSD got all of 65 pips before reversing that "DBHLC" at the low of the chart(size of that stop = 216 pips, moved: 65 pips, r/r = one to zero point errrr something, 1:0.3 or so, even at max. pips moved).

Just to illustrate I'm not making it up.
Sure, "this doesn't mean these things don't sometimes work out"(matter of fact I'm sure people could find me quite a few that went and moved really well etc), but I personally(my preference) would much rather have more optimal situations or at least situations coinciding with other events of significance in order to make the setup more meaningful than the bar alone(break/confirmation of something important or similiar).

There's more to a trade than a bar or two imho.

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Quoting Aad

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Thanks Jarroo, I saw that file also at the " Auslanco - GBP/JPY and GBP/USD" thread...

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Quoting unlv_tj

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This thread is wonderful. Thank you to all those who post here and share so much helpful advice. I lurk a lot, but I do not post much, as I still have a lot to learn.

How do many you play Inside Bar formations (normally, I know there are different circumstances)?

Do you play the break of the outside bar?

Do you wait for it to break the outside bar, and then let it retrace back to the inside bar and get in expecting a continuation away from the outside bar (breaks long, comes back and touches the outside bar, you then buy long)?

Thank you!

T.J.

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Quoting Mr demark

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what about the current DBLHC on GBPUSD H4?

it's kinda long. Like 100+ pips long

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Quoting jarroo

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I think I'm getting this now. (It's not you Seeking, I tend to make things more complicated then they really are.)

So, you would maybe wait for a retrace into that DBHLC so the stop loss (which would be on top of the DBHLC) would be give a better r/r?

Or some other confluence (resistance in this case) within the DBHLC to place your stop to give you a better r/r?

Thanks,

Jim

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Quoting jarroo

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Yes, and this ties into what Seeking is talking about. There should be (or "must" be) other reasons to entering a trade than just a bar or two.

Inside Bars, Outside Bars, etc. need to have other confluences surrounding that formation to support a given trade. An Inside Bar that is just below a new High, at a S/R level (PPZ), Trendline right on top of it, at a 61.8 Fib level . . . wow, sounds like a good trade to short. These confluences, not all but many, need to be seen before a trade can be placed. imho.

Also, on higher time frames Price Action formations will tend to retrace before they break. Finding retracement levels, be it Fibs, long term MAs, S/R levels, etc., are the key trading requirement that takes practise.

Sorry, I can't post a chart right now, not at home.

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Quoting bundyraider

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Hi Jim,

I noticed your DBHLC post the other day. Was in traffic in my opinion, for one.

Like Seek mentioned, you'll do a lot more good taking those types of trades when they're placed better. ...Against trendlines or PPZ or swing highs or whatever. With the major trend even better.

It's an important point to remember that we don't take every price bar setup just because it meets the definition. You make a lot more money by waiting. You know that!

You COULD have used that daily DBHLC as a momentum indicator if you were good. Trading intraday price action in that direction. ....Using the appropriate nimble trade management that goes with it, of course. (hmmmm ....new smilies!! )

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Quoting jarroo

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4 hour Pin Bar proved itself with a 50% retrace before the break.

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Quoting judith

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I can see the next bar after the pin bar broke the lower level, then it went against you a great deal (50%) what was your SL??

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Quoting judith

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I can see the next bar after the pin bar broke the lower level, then it went against you a great deal (50%) what was your SL??

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Quoting giusepp8

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...any thoughts??
on my platform the data goes back to 2005... however on the weekly we have our first bullish signal in two years ... two weeks ago we had a BUOVB and last week a TBH that can be considered a I4B .. actually i see it as a double bullish signal ... now we are having a little retracement to th trendline ... i think buyers should show up NOW! ...
If usd/sgd is starting to look a little bit north .... usd/jpy ???????

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