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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

  • #14,761
  • Oct 27, 2008 1:00pm Oct 27, 2008 1:00pm
Quoting Forex007
Jaroo, where would one draw the line in terms of TFs used. I.e. if you can see a PB on H8, but there is no solid PA on other TFs, wouldn't that be a bit of \"PA hunting\"?..

I know many people use \"odd\" TFs (M10, H2, H8) successfully, and perhaps there is a logic behind that (e.g. if the close of an H8 bar co-incides with the London close), but maybe some other tools (TL, Fibo) could be used for the same purpose on more \"traditional\" TFs.

Just a thought...
I'll look at the 4 Hour, 8 Hour, 16 Hour, Daily, 2 Day, 3 Day, Weekly, 2 Week. etc. Looking at different Time Frames and combining Bars is indeed an interesting study of Price Action. Just remember, Price Action formations are only part of the equation that adds up to a potential PA set-up.
Indicators show the past. Price Action "Indicates" the future.
  • #14,762
  • Oct 27, 2008 4:36pm Oct 27, 2008 4:36pm
Quoting Forex007
Jaroo, where would one draw the line in terms of TFs used. I.e. if you can see a PB on H8, but there is no solid PA on other TFs, wouldn't that be a bit of \\"PA hunting\\"?..
It's not about combining bars for the sake of finding a signal.

You want to know what the crowd is up to, what they are reacting to and whether it's significant and usable information that can give you an advantage.

Combining bars will become second nature to you over time. ...Heck, even an inside bar formation can sometimes be a two bar pin. And a really good one too!
.
Bundy's status today: "Waiting..."
  • #14,763
  • Oct 27, 2008 5:10pm Oct 27, 2008 5:10pm
Quoting bundyraider
...Heck, even an inside bar formation can sometimes be a two bar pin.
You mean like current GBPCAD Daily ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.gif Size: 10 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #14,764
  • Oct 27, 2008 5:12pm Oct 27, 2008 5:12pm
Quoting Goozman
Looks like a great reversal/retracement area for GBP/USD and GBP/JPY. Sorry I can't post charts right now.
I was looking at the GBPUSD last night while checking out racekfx's 1hr R-db thread on the J16 private forum and posted this to my journal over there......just drilling down to the 1hr looking for a possible trend reversal or entry point....no trade in place at the moment as I'm very wary about picking a bottom but very interesting nonetheless.

The chart grab was taken last night, my time and price has moved up a bit since then.

Price is retesting the 78.6% Fib from the move Northwards starting from May 2001 http://www.james16group.us/forums/im...s/thinking.gif

Price is sitting at a nice PPZ also

http://img529.imageshack.us/img529/7...pusd1hrfj9.gif
http://img529.imageshack.us/img529/g...gif/1/w800.png
  • #14,765
  • Oct 27, 2008 10:08pm Oct 27, 2008 10:08pm
No daily trades for me today (currently short eur/usd).. Here are two 4hr trades I took earlier and am still in. I have take profit at the prior support levels (still working out my exit plan), only .5% risked of my mini mini live/demo account.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10-27 4hr gc pin.gif Size: 16 KB
Click to Enlarge Name: 10-27 4hr gu pin.gif Size: 15 KB
  • #14,766
  • Oct 28, 2008 4:56am Oct 28, 2008 4:56am
Something to keep an eye on. DBHLC.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 30 KB
  • #14,767
  • Oct 28, 2008 7:39am Oct 28, 2008 7:39am
Quoting soso
You mean like current GBPCAD Daily ?
Along those lines. ...Yeah.

I still use the same rules of course. The current break of the pin is a little close to those swing highs , and kinda trafficky. ...For my personal liking.

If I was trading that one myself I'd be covering my a__ at those swing highs. Which again comes down to it just being too close. If you were confident of getting a good entry you'd be right.

What I DO really like is the way those bars come off of that Sep 9th high. A good little double bottom pattern eh. ...and a PPZ if you draw one around 194.00.
That double bottom pattern has 'played out' as far as the usual target rules go though . Bummer. lol

You don't think 209.00 area is worth watching too (PPZ) ?

Anyway, calling it a night. Grabbed my allocation for the day elsewhere and running with it. lol

,Bundy

.
Bundy's status today: "Waiting..."
  • #14,768
  • Oct 28, 2008 7:46am Oct 28, 2008 7:46am
Quoting Greenhaze
Something to keep an eye on. DBHLC.
I've been wanting this to make 1.2400 area all day and see what happens there. Now though could do either that OR break high.

When I wake up in the morning, I'll be keen to see what's happened.
Bundy's status today: "Waiting..."
  • #14,769
  • Oct 28, 2008 8:16am Oct 28, 2008 8:16am
Quoting ezz
Everthing just keeps falling off the Charts...

whos with me on the side lines...
I agree Ezz, the recent action specially on the higher tfs is more just a reward for earlier PA signals, none currentlly available, however watch out for the counter trend retracments occuring in many pairs across the markets, this is where i'll be looking for some "with the trend PA setups"

Regards,
Ghous.
I believe . . .
  • #14,770
  • Oct 28, 2008 3:06pm Oct 28, 2008 3:06pm
It is time the Dollar lost some steam. I believe the Eur/Usd will climb into the low 30's on a major Retracment. I am looking for maybe 30 days of LONGS.This is what my Forex Magic 8 Ball is telling me. This prediction is based on nothing but a hunch and Daily chart (candlestick).
FF = Forex Faggots
  • #14,771
  • Edited 3:40pm Oct 28, 2008 3:15pm | Edited 3:40pm
Quoting Forex007
Ouch!

Just kidding. As you said, Jaroo, that's what practice is for. Besides, we are all 20/20 clever, and if smth made sense in the past, the decision (for you) was valid, whether the move happened or not.

BTW, Jaroo, why didn't you take H1 DIBS trade on cable? It moved well to good S/R levels. I got out at 200pip (original SL was 30 pips - not per DIBS rules, but I entered when the move started (to reduce SL)), but it went for another 140. Wait a minute, just checked your DIBS thread - you did took that trade. So, did you trade BOTH long and short today on the same pair?..
Hey 007 just saw your post sorry.

I closed my long position and took the DIBS trade.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,772
  • Oct 28, 2008 7:15pm Oct 28, 2008 7:15pm
Well those 4hr and my EU trade from a few days ago didn't work out too well. Here's my trade today on the UCAD, tried shorting this a few days ago when the pin formed but it never triggered for me.
Attached Image (click to enlarge)
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  • #14,773
  • Oct 28, 2008 8:32pm Oct 28, 2008 8:32pm
Here is my short on EURGBP. A daily i4b has formed on the trendline. There was a huge PIN but that didn't get triggered. However, it provided short bias for me and this I4B is the trigger. Target is 0.7850 and 0.7700.

Ken
Attached Image
  • #14,774
  • Oct 28, 2008 8:47pm Oct 28, 2008 8:47pm
Quoting stoli7188
Well those 4hr and my EU trade from a few days ago didn't work out too well. Here's my trade today on the UCAD, tried shorting this a few days ago when the pin formed but it never triggered for me.
Nice stoli.

The PPZ, 150/365 ems & 50 Fib on the Monthly and the potential (underlined potential) Pin Bar on the weekly.

This one could bring out a James16 chart.

Jim
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #14,775
  • Oct 29, 2008 12:40am Oct 29, 2008 12:40am
Quoting goodtiding5
Here is my short on EURGBP. A daily i4b has formed on the trendline. There was a huge PIN but that didn't get triggered. However, it provided short bias for me and this I4B is the trigger. Target is 0.7850 and 0.7700.

Ken
I am taking half off @ 0.7900 and move the stop to B/E.
  • #14,776
  • Oct 29, 2008 3:01am Oct 29, 2008 3:01am
Valid PB off fib confluence and former support?

Bar just closed at 1.6008.
Attached Image (click to enlarge)
Click to Enlarge Name: GPBUSD.JPG Size: 129 KB
  • #14,777
  • Oct 29, 2008 3:10am Oct 29, 2008 3:10am
Quoting Blackinc
Valid PB off fib confluence and former support?

Bar just closed at 1.6008.

Hi Blackinc

Looking at your chart its a BEOB not a pin bar.
  • #14,778
  • Oct 29, 2008 6:11am Oct 29, 2008 6:11am
Quoting fxprocessor
Hi Blackinc

Looking at your chart its a BEOB not a pin bar.
I was concerned with the 2 bars to the left.. i suppose because i was only looking at short opportunities, i didn't even think of a BEOB.
  • #14,779
  • Oct 29, 2008 6:52am Oct 29, 2008 6:52am
Quoting Blackinc
I was concerned with the 2 bars to the left.. i suppose because i was only looking at short opportunities, i didn't even think of a BEOB.
A BEarish Outside Bar IS a short oppurtunity Blackinc.

You're right to question the setup though. It "looks" unconvincing doesn't it?
...When it looks wrong it's best to stay out, I say.
Bundy's status today: "Waiting..."
  • #14,780
  • Oct 29, 2008 7:03am Oct 29, 2008 7:03am
Quoting bundyraider
A BEarish Outside Bar is a short oppurtunity Blackinc.

You're right to question the setup though. It \"looks\" unconvincing doesn't it?
...When it looks wrong it's best to stay out, I say.
Hence why its called a "bearish" outside bar

Who feels stupid now?

Oh dear.. ah well its good to be learning.

But its also a long opportunity if it break up yea? Or no. Now that i think about it, its seems illogical to call it a Bearish outside bar if you can go long off it... Still reading the thread..

But thanks bundy, this stuff is really interesting.
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