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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

  • #14,581
  • Oct 21, 2008 1:41am Oct 21, 2008 1:41am
Quoting jarroo
A couple of targets.
Did you enter the trade on a red line or on a magenta line?
  • #14,582
  • Oct 21, 2008 1:47am Oct 21, 2008 1:47am
Quoting dzacek
Did you enter the trade on a red line or on a magenta line?
I entered on the break (Red line). Above the Magenta line is my stop loss. That line is the low of the BEOB, 1st Bar (candle). (Stop loss is now at break even).

If Price broke the BEOB and then retraced to Magenta line I would have entered there. But Price did not, so I entered on the break.
Indicators show the past. Price Action "Indicates" the future.
  • #14,583
  • Oct 21, 2008 1:58am Oct 21, 2008 1:58am
Notice that Price stalls at the left eye of the Pin Bar from a few days ago. (green box). Interesting.
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Indicators show the past. Price Action "Indicates" the future.
  • #14,584
  • Oct 21, 2008 2:21am Oct 21, 2008 2:21am
Quoting jarroo
I entered on the break (Red line). Above the Magenta line is my stop loss. That line is the low of the BEOB, 1st Bar (candle). (Stop loss is now at break even).

If Price broke the BEOB and then retraced to Magenta line I would have entered there. But Price did not, so I entered on the break.
Thanks for your explainations. Just another question - what's your broker time. My candels look diffrent.
  • #14,585
  • Oct 21, 2008 2:23am Oct 21, 2008 2:23am
Quoting dzacek
Thanks for your explainations. Just another question - what's your broker time. My candels look diffrent.
GMT. IBFX. What broker are you using?
Indicators show the past. Price Action "Indicates" the future.
  • #14,586
  • Oct 21, 2008 3:04am Oct 21, 2008 3:04am
nzdusd h4, I think this is a nice one :
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  • #14,587
  • Oct 21, 2008 3:26am Oct 21, 2008 3:26am
Hello Guys
Please can you tell me whether for TML what should the candle colours be the same or the can be different?

Can you explain the same for TMH as well for colour colours?

Thanks
Would really appreciate it.
  • #14,588
  • Oct 21, 2008 3:43am Oct 21, 2008 3:43am
I am still a newbie trying to get good at the daily charts but I occassionally go down to 4 hr if there's nothing happening on the higher time frames. I took this trade a while ago on the EU.

Price broke through multiple bottoms and I waited for it to break the low of 1.3256. That area appears to now be acting as support so I'm in since 1.3234 with stops above the high of the bar at 1.3405.
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  • #14,589
  • Oct 21, 2008 4:38am Oct 21, 2008 4:38am
Quoting jarroo
I entered on the break (Red line). Above the Magenta line is my stop loss. That line is the low of the BEOB, 1st Bar (candle). (Stop loss is now at break even).

If Price broke the BEOB and then retraced to Magenta line I would have entered there. But Price did not, so I entered on the break.
Hi Jarroo, did you move SL to above the Magenta line after 1st target hit? or that's the origin SL?

Because I think SL should be above yesterday high?

Thanks
Scarlet
  • #14,590
  • Oct 21, 2008 4:43am Oct 21, 2008 4:43am
Hi Jaroo, What u think about gold today? Please explain through charting. Very thankful to you.
  • #14,591
  • Oct 21, 2008 4:43am Oct 21, 2008 4:43am
Quoting scarlet
Hi Jarroo, did you move SL to above the Magenta line after 1st target hit? or that's the origin SL?

Because I think SL should be above yesterday high?

Thanks
Scarlet
Once my 1st target was hit, I moved my s/l to break even and was stopped out on the 2nd half. I did however re-enter with a smaller position.
Indicators show the past. Price Action "Indicates" the future.
  • #14,592
  • Oct 21, 2008 4:45am Oct 21, 2008 4:45am
Quoting Msattar
Hi Jaroo, What u think about gold today? Please explain through charting. Very thankful to you.
Sorry, I don't have any charting on Gold.
Indicators show the past. Price Action "Indicates" the future.
  • #14,593
  • Oct 21, 2008 5:17am Oct 21, 2008 5:17am
Quoting scarlet
Because I think SL should be above yesterday high?

Thanks
Scarlet
The ideal stop loss position is above the BEOB.
Indicators show the past. Price Action "Indicates" the future.
  • #14,594
  • Oct 21, 2008 5:37am Oct 21, 2008 5:37am
Hello Guys
Please can you tell me whether for TML what should the candle colours be the same or the can be different?

Can you explain the same for TMH as well for colour colours?

Thanks
Would really appreciate it.
  • #14,595
  • Oct 21, 2008 5:38am Oct 21, 2008 5:38am
Quoting adler
Hello Guys
Please can you tell me whether for TML what should the candle colours be the same or the can be different?

Can you explain the same for TMH as well for colour colours?

Thanks
Would really appreciate it.
What is TML and TMH colour?
Indicators show the past. Price Action "Indicates" the future.
  • #14,596
  • Oct 21, 2008 7:33am Oct 21, 2008 7:33am
Quoting adler
Hello Guys
Please can you tell me whether for TML what should the candle colours be the same or the can be different?

Can you explain the same for TMH as well for colour colours?

Thanks
Would really appreciate it.
Hey adler ,

I believe you are asking in regards to if you have one color for a bearish bar and one for a bullish bar on your charts. Either way the colors can be both the same and different.

All we are looking for is two lows to be equal(the bar can close bullish or bearish), and saw thing for a TBH(or two matching highs).

Best,
Mike
  • #14,597
  • Oct 21, 2008 8:22am Oct 21, 2008 8:22am
Thanks for your reply Mike regarding TMH and TML's

If they can be different color or same colour do they indicate direction atall like up or down?

1. When is it up and when is it down
2. When do they work like fib confluence? stoc divergence? Any thing like
that?

Thanks
  • #14,598
  • Oct 21, 2008 8:24am Oct 21, 2008 8:24am
Quoting adler
Thanks for your reply Mike regarding TMH and TML's

If they can be different color or same colour do they indicate direction atall like up or down?

1. When is it up and when is it down
2. When do they work like fib confluence? stoc divergence? Any thing like
that?

Thanks


IMO the best way to play matching highs/lows are with the trend. So when you are in a downtrend, and you have a "pause" created by a TBL. Or vice versa for an uptrend.

I rarely play those, my favorite is to wait for multiple matching highs, when you get 5 or 6 bars with matching highs over a short period of time, a break usually gives out some pips.

The longer the timeframe the more rare these are, but the are out there.

Best
Mike
  • #14,599
  • Oct 21, 2008 8:50am Oct 21, 2008 8:50am
Quoting jarroo
1st target hit. Taking some off the table.
Hahaha! Nice one Jarroo, would you believe it, i was waiting for this setup for soooo longggg and when the opporunity came i missed it was just too busy lately! HUH! I was talking earlier of the possibility of Gu returning to a bearish mode after that intial Pin it formed sown south, DAMN! Nice ride for you anyways, i am sure most would have caught this one. As for me i'll be waiting for another move to catch while i enjoy the fact that i atleast shunned that inside feeling of wanting to get in without enough time to think over the trade. Better to be out wishing i was in rather than in the market wishing i was out the 1.7 level was right in the way anyways...

Regards,
Ghous.
I believe . . .
  • #14,600
  • Oct 21, 2008 8:58am Oct 21, 2008 8:58am
Quoting mbqb11
IMO the best way to play matching highs/lows are with the trend. So when you are in a downtrend, and you have a \"pause\" created by a TBL. Or vice versa for an uptrend.

I rarely play those, my favorite is to wait for multiple matching highs, when you get 5 or 6 bars with matching highs over a short period of time, a break usually gives out some pips.

The longer the timeframe the more rare these are, but the are out there.

Best
Mike
Hey Mike,
Do these TBs hold any significance as trend reversal indications? i often watch two similiar lows/highs giving quite a bit of direction against the current trend.

take the examples mentioned in the charts below, the TBs don't appear to be perfect in shape but their occurence on trend reversal points does hold some signifcance, i see these very very often. Can you comment a bit on these...
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I believe . . .
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