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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

  • #15,841
  • Nov 27, 2008 6:51pm Nov 27, 2008 6:51pm
I4Bs on a few dailys.
Bundy's status today: "Waiting..."
  • #15,842
  • Nov 27, 2008 7:09pm Nov 27, 2008 7:09pm
Quoting bundyraider
I4Bs on a few dailys.
Yo bundy. Have you used this "Identifier" before? I use it all the time.

I know it goes in the indicator file and eveyone calls it an indicator, but it doesn't indicate direction. It idenifies I4Bs.

I don't use the Pin Bar values.
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File Type: mq4 I4B and Pin.mq4   9 KB | 1,107 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #15,843
  • Nov 27, 2008 7:18pm Nov 27, 2008 7:18pm
Quoting jarroo
Yo bundy. Have you used this "Identifier" before? I use it all the time.

I know it goes in the indicator file and eveyone calls it an indicator, but it doesn't indicate direction. It idenifies I4Bs.

I don't use the Pin Bar values.
I tend to write my own. They only take a couple of minutes most of them and I can fiddle with them further to filter better. lol

At the moment I'm only watching daily and 4 hour charts for "Wake up calls". ...Reading them mostly naked. (the charts. lol)
If I then see an indication of a setup coming up I will check back every hour etc. That's what I feel like doing at the moment, so I do it.

I found in the past that using identifier type programs showed me too much and I'd get bored with all the signals and lose interest. lol

I4bs are probably the only one that wouldn't give too many signals.
Bundy's status today: "Waiting..."
  • #15,844
  • Nov 27, 2008 7:25pm Nov 27, 2008 7:25pm
Quoting jarroo
Yo bundy. Have you used this "Identifier" before? I use it all the time.

I know it goes in the indicator file and eveyone calls it an indicator, but it doesn't indicate direction. It idenifies I4Bs.

I don't use the Pin Bar values.

thx for the indi...

what is the ratio shd I use if I wanna to identify PB using this indi??

Sonic
  • #15,845
  • Nov 27, 2008 7:45pm Nov 27, 2008 7:45pm
Quoting bundyraider
I tend to write my own. They only take a couple of minutes most of them and I can fiddle with them further to filter better. lol

At the moment I'm only watching daily and 4 hour charts for "Wake up calls". ...Reading them mostly naked. (the charts. lol)
If I then see an indication of a setup coming up I will check back every hour etc. That's what I feel like doing at the moment, so I do it.

I found in the past that using identifier type programs showed me too much and I'd get bored with all the signals and lose interest. lol

I4bs are probably...

Weeding out Inside Bars is always a good practise. The double barrel I4Bs (or I3Bs, I2Bs) on the 4 hour/ Daily are usually (not always) followed by a pretty strong move.
Indicators show the past. Price Action "Indicates" the future.
  • #15,846
  • Nov 27, 2008 7:53pm Nov 27, 2008 7:53pm
Quoting sonicdeejay
thx for the indi...

what is the ratio shd I use if I wanna to identify PB using this indi??

Sonic
The default settings should be fine. You can try different settings. Also, if you use the Pin Bar values they will only show up on the Daily chart. I like seeing I4Bs on the 4 hour and 1 hour (DIBS) charts.

I don't know how to fix this.
Indicators show the past. Price Action "Indicates" the future.
  • #15,847
  • Nov 27, 2008 8:44pm Nov 27, 2008 8:44pm
Quoting rustyjeff
including mm...
MM is the easiest part to automate as you have very few variables to deal with.
One Chart is Worth Ten Thousand Words.
  • #15,848
  • Nov 27, 2008 9:03pm Nov 27, 2008 9:03pm
Quoting jarroo
The default settings should be fine. You can try different settings. Also, if you use the Pin Bar values they will only show up on the Daily chart. I like seeing I4Bs on the 4 hour and 1 hour (DIBS) charts.

I don't know how to fix this.
Thanks for the indi, Jarroo. I'll have a look at how it can be tweaked (when I have time )
One Chart is Worth Ten Thousand Words.
  • #15,849
  • Nov 27, 2008 9:19pm Nov 27, 2008 9:19pm
Quoting jarroo
Weeding out Inside Bars is always a good practise. The double barrel I4Bs (or I3Bs, I2Bs) on the 4 hour/ Daily are usually (not always) followed by a pretty strong move.
Can someone please provide a definition for I4B, I3B and I2B in terms of what they look like on a chart?
  • #15,850
  • Nov 27, 2008 9:33pm Nov 27, 2008 9:33pm
Quoting LongToBeFree
Can someone please provide a definition for I4B, I3B and I2B in terms of what they look like on a chart?
Hey LTBF

I4B simply refers to an inside bar that has a smaller range(that is the high -low), then the previous 3 bars.

SO an I3B, would be an inside bar, that then has a smaller range then the previous 2 bars.

So you can have an I9B, I10B, etc. As long as the range is smaller then the previous X amount of bars(note these bars don't have to be decreasing in range in order, just the inside bar has to be smaller).


Mike
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  • #15,851
  • Nov 28, 2008 12:11am Nov 28, 2008 12:11am
A solid Gu setup! I just need to be smarter to look for only these kinds of setups instead of throwing myself in and out of senseless trades...
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I believe . . .
  • #15,852
  • Nov 28, 2008 3:44am Nov 28, 2008 3:44am
How would this pin bar be graded? Or is it even a pin bar? I'm thinking the nose is good, but it rest of the bar goes down fairly low between the eyes.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,853
  • Nov 28, 2008 3:56am Nov 28, 2008 3:56am
Quoting LasVahGoose
How would this pin bar be graded? Or is it even a pin bar? I'm thinking the nose is good, but it rest of the bar goes down fairly low between the eyes.
We would class that as a Neutral bar and although they are playable you need to understand that any bar where the Open and Close are in the middle of the bar's range shows indecision. This one could have gone either way. You picked a good spot for your resistance and it would have worked out but was more of a gamble than necessary. It was also working against the main trend (down) so had that in its favour.

Be carefull on the lower TFs as PA becomes less reliable and you need more experience of the very best locations to consider entering a trade.
  • #15,854
  • Nov 28, 2008 4:09am Nov 28, 2008 4:09am
Quoting PeterFM
We would class that as a Neutral bar and although they are playable you need to understand that any bar where the Open and Close are in the middle of the bar's range shows indecision. This one could have gone either way. You picked a good spot for your resistance and it would have worked out but was more of a gamble than necessary. It was also working against the main trend (down) so had that in its favour.

Be carefull on the lower TFs as PA becomes less reliable and you need more experience of the very best locations to consider entering a trade....
I just started this thread and read the PDF's Pin Bars: Intro & Advanced, but wasn't exactly sure if that bar was good or not (I was leaning towards not).

Thank you for the fast response, I appreciate it.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,855
  • Nov 28, 2008 4:11am Nov 28, 2008 4:11am
Quoting LasVahGoose
How would this pin bar be graded? Or is it even a pin bar? I'm thinking the nose is good, but it rest of the bar goes down fairly low between the eyes.
Thanks Peter. I would strongly suggest you click PeterFM's name and read his posts (make that all of his posts). It will help you greatly. It sure has helped me.


Neutral bar off a hourly resistence. I would first ask you LVG is where is the Weekly and Daily S/R levels (PPZs)? Even if that was a good looking Pin Bar on the hourly, I would see if it was off thoses higher time frame levels.

Edit : You don't have to click the name any more, just click the post number. I forgot.
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Indicators show the past. Price Action "Indicates" the future.
  • #15,856
  • Nov 28, 2008 4:43am Nov 28, 2008 4:43am
Quoting jarroo
Thanks Peter. I would strongly suggest you click PeterFM's name and read his posts (make that all of his posts). It will help you greatly. It sure has helped me.

Neutral bar off a hourly resistence. I would first ask you LVG is where is the Weekly and Daily S/R levels (PPZs)? Even if that was a good looking Pin Bar on the hourly, I would see if it was off thoses higher time frame levels.
I didn't look at the weekly, but here is my attempt looking now. Top of neutral bar is cyan line. I get a retrace 'almost' to the 23.6 fib from the larger move and break of 23.6 from the smaller move, which is a weak fib level. The green box I have marked possible resistance. I guess that is maybe some confirmation? I'm closer to the resistance level than the support level. Yes/No?
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,857
  • Nov 28, 2008 5:19am Nov 28, 2008 5:19am
Quoting LasVahGoose
I didn't look at the weekly, but here is my attempt looking now. Top of neutral bar is cyan line. I get a retrace 'almost' to the 23.6 fib from the larger move and break of 23.6 from the smaller move, which is a weak fib level. The green box I have marked possible resistance. I guess that is maybe some confirmation? I'm closer to the resistance level than the support level. Yes/No?
Price probably responded because it was close to resistence. More likely the 1.3000 round number. Close to a S/R level is good. But "On" a S/R level is better.
Indicators show the past. Price Action "Indicates" the future.
  • #15,858
  • Nov 28, 2008 5:37am Nov 28, 2008 5:37am
Hey Peter,

Have followed a lot of your stuff on various threads, all good reading. Do you still take only trades with the trend or do you take CT trades? Also, your trades with the trend, are they all based on SR and PA?

berti
PA is where its at!!
  • #15,859
  • Nov 28, 2008 6:35am Nov 28, 2008 6:35am
Quoting bertie123
Hey Peter,

Have followed a lot of your stuff on various threads, all good reading.
Thank you
Quote
Do you still take only trades with the trend
When I can see the trend, yes
Quote
or do you take CT trades?
Yes, but I set smaller targets and generally reduce my position size
Quote
Also, your trades with the trend, are they all based on SR and PA?

berti
Yes to both questions.
  • #15,860
  • Nov 28, 2008 6:44am Nov 28, 2008 6:44am
Quoting PeterFM
Thank you when I can see the trend, yes yes, but I set smaller targets and generally reduce my position size yes to both questions.
For some reason i didn't know you till Jarroo emphasized on your stuff to be read, on doing that i feel great to have you with us providing us with all the help we need! Thank you

Regards,
Ghous.
I believe . . .
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