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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

  • #17,681
  • Dec 31, 2008 3:20am Dec 31, 2008 3:20am
Quoting johnbaem
Better and better now! Ghous, attach my chart on GU, am i spotting the right BeoVB bars there? Im taking that trade with 38.2 retracement. Currently green at 45pips.

Attachment
Ok, The BEOB was more a DBHLC than BEOB. I forgot to tell you abt the DBHLCs and DBLHcs, I am a bit busy now and will give you more info when i find some time.

The setup you took was more of a DBHLC, but was a valid signal for short.

best of luck!

Regards,
Ghous.
I believe . . .
  • #17,682
  • Dec 31, 2008 3:29am Dec 31, 2008 3:29am
Quoting ghous
The BEOB is at a swing high, with a double top and heavily loaded with divergence on the daily as well as the weekly (refer to Raczekfx's post a few posts back) IMO currntly the best setup on the higher tfs

I am not trading it just yet as I am waiting for my spread to come back to normal but If i would have traded this, the trade would be at the break of the BEOB (as should be the strategy for taking any PA signal) i.e I would have placed a sell stop order 10-20 pips below the low of the BEOB (thus taking it's break) as you can see the BEOb...

whats your sell stop price and what would be ur take profit.When i saw the double top i was tempted to take but would wait till after the holiday.

Thanks
  • #17,683
  • Dec 31, 2008 3:48am Dec 31, 2008 3:48am
Quoting ghous
Ok, The BEOB was more a DBHLC than BEOB. I forgot to tell you abt the DBHLCs and DBLHcs, I am a bit busy now and will give you more info when i find some time.

The setup you took was more of a DBHLC, but was a valid signal for short.

best of luck!

Regards,
Ghous.
Ok here we go...

DBHLC: Double Bar High Lower Close. This is a combination of 2 bars where the highs are matching, i.e they end up at or very near to the other bar's high, Incase where the bars don't generate any highs the open and close can be used as well...look at the attatched chart for examples. Such bars are a good indication of Bearish strength.

DBLHC: Double Bar Low Higher Close. this is another combination of bars which is similiar to the DBHLC but it indicates bullish strength.

Basically these 2 setups are fewer in number and are extermely difficult to find with a perfect shape (matching highs or lows by the pip), they work mostly when the matching highs/lows are formed at a major support or resistance and indicates a strong biased price willingness. Since these are rare to find they are discussed very occasioanly here but are certainly to be looked out for

here are the charts, of some DBHLCs and DBLHCs some which are oviosuly not perfect by the pip, and some which have their open and close as functioning as the "matching highs/lows"


PS PS make sure that you correctly interpret this PA setup. The Lower Close and higher Close actually means a close over the entire previous bar, i.e the close has to exceed the entire previous bar.

Regards,
Ghous.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uc dbhlc.gif Size: 10 KB
Click to Enlarge Name: uj dblhc.gif Size: 11 KB
Click to Enlarge Name: au dblhc.gif Size: 11 KB
I believe . . .
  • #17,684
  • Dec 31, 2008 4:18am Dec 31, 2008 4:18am
Quoting ayour2a
whats your sell stop price and what would be ur take profit.When i saw the double top i was tempted to take but would wait till after the holiday.

Thanks
The stop order was only to show John the entry point. Since this pair is extremely volatile and my spread has eally widened during this holiday period I am waiting for the next week myself to take a trade on this one

Regards,
Ghous.
I believe . . .
  • #17,685
  • Dec 31, 2008 5:04am Dec 31, 2008 5:04am
U r such a rare gem, thanks for all ur effort and explanation.

but can u give ur last charts DBHLC in candlestick bars. i want to grasp the meaning more and it will help me with candle stick formation.

thanks
  • #17,686
  • Dec 31, 2008 6:08am Dec 31, 2008 6:08am
I found this thread yesterday and i read the first 21 pages, thanks everyone that participate specially James16, this is a vry very interesting stuff for me.

Happy 2009
Abraço Paulo
  • #17,687
  • Dec 31, 2008 6:47am Dec 31, 2008 6:47am
Quoting ghous
Ok here we go...

DBHLC: Double Bar High Lower Close. This is a combination of 2 bars where the highs are matching, i.e they end up at or very near to the other bar's high, Incase where the bars don't generate any highs the open and close can be used as well...look at the attatched chart for examples. Such bars are a good indication of Bearish strength.

DBLHC: Double Bar Low Higher Close. this is another combination of bars which is similiar to the DBHLC but it indicates bullish...


Great stuff and great explanations ,very easy to digest for anyone who wants to learn PA.
I'll take my hat in front of you for all your efforts.

Wish you the very best !
  • #17,688
  • Dec 31, 2008 7:12am Dec 31, 2008 7:12am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
statistically, this leads a fresh man takes more time to uncover the mysterious truth, given the old saying no shortcut to victory. I knew already, the winner is......

Quoting ajchi
Greed and impatience is the correct answer, I think :-)
Cheers
  • #17,689
  • Dec 31, 2008 7:20am Dec 31, 2008 7:20am
Great info Ghous!

See man, when im pointing you a question and you are able to answer at the same time many of our forummers that rarely voice out are now able to make comment and some also need a better explanation.

Thanks for your effort and ive grab the idea.

Happy new year to All of You!!! And possibly this is a new year gift for bag pips in your pocket!!!

EURGBP
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 8 KB


GBPCHF
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 7 KB


GBPJPY
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 10 KB


Those daily stuff does not complete yet. Watch the move and safely plan your trade. Prosperous 2009 we hope!
  • #17,690
  • Dec 31, 2008 9:33am Dec 31, 2008 9:33am
Quoting johnbaem
Great info Ghous!

See man, when im pointing you a question and you are able to answer at the same time many of our forummers that rarely voice out are now able to make comment and some also need a better explanation.

Thanks for your effort and ive grab the idea.

Happy new year to All of You!!! And possibly this is a new year gift for bag pips in your pocket!!!

EURGBP
Attachment

GBPCHF
Attachment

GBPJPY
Attachment

Those daily stuff does not complete yet. Watch the move and safely plan your trade. Prosperous...
Outside bars have higher high and lower low compared to previous bar.
As for last 2 charts i wouldnt call those bars DBLHC coz the proportional difference between lows is to large.
  • #17,691
  • Dec 31, 2008 9:44am Dec 31, 2008 9:44am
Quoting ghous
The BEOB is at a swing high, with a double top and heavily loaded with divergence on the daily as well as the weekly (refer to Raczekfx's post a few posts back) IMO currntly the best setup on the higher tfs

..
Regards
Ghous.
Nice post ghous..

I have a NewYear present for you.
I shorted eurcad yesterday (It's hard not to trade when something comes to you on a golden plate...lol) and created quick video briefly explaining my thought process.
If interested, you can watch it HERE... I'll keep it there for few days.
Cheers and have a great and pipping 2009 all!
.
Attached Image
  • #17,692
  • Dec 31, 2008 10:11am Dec 31, 2008 10:11am
Just saw this form on cable and thought it was one of the biggest BEOVB's I've seen recently! Both high and low are outside of the previous bars' range, and the close is lower than the previous bars' low.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 311208 1h.gif Size: 20 KB
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,693
  • Dec 31, 2008 10:33am Dec 31, 2008 10:33am
Quoting raczekfx
Nice post ghous..

I have a NewYear present for you.
I shorted eurcad yesterday (It's hard not to trade when something comes to you on a golden plate...lol) and created quick video briefly explaining my thought process.
If interested, you can watch it HERE... I'll keep it there for few days.
Cheers and have a great and pipping 2009 all!
.
Great trade Rac, i had a funny feeling abt this one, it could be the widened spread or something else, but i just didn't take it. Went for Eur/gbp, Gbp/chf, and Chf/jpy instead, will see if i can find an entry next week.

I'll go through your video, thankyou for the woderful gift! I was least expecting it

Regards,
Ghous.
I believe . . .
  • #17,694
  • Dec 31, 2008 10:37am Dec 31, 2008 10:37am
Quoting johnbaem
Great info Ghous!

See man, when im pointing you a question and you are able to answer at the same time many of our forummers that rarely voice out are now able to make comment and some also need a better explanation.

Thanks for your effort and ive grab the idea.

Happy new year to All of You!!! And possibly this is a new year gift for bag pips in your pocket!!!

EURGBP
Attachment

GBPCHF
Attachment

GBPJPY
Attachment

Those daily stuff does not complete yet. Watch the move and safely plan your trade. Prosperous...
you almost got it John, The DBHLC and DBLHC are pretty much valid but they are'nt accurate to the pip and you should'bt be expecting them to be this accurate all the time.

As for all other PA setups the accuracy is imperitave, this means that the bar you labelled as a BEOB is invalid as the high does'nt exceed the previous bar's high.

Keep the learning process running, you're a good learner I can recall the trouble i gave to the members here (jarroo and others) when i was first trying to understand this stuff

Regards,
Ghous.
I believe . . .
  • #17,695
  • Edited 10:58am Dec 31, 2008 10:38am | Edited 10:58am
Quoting Naijafx
U r such a rare gem, thanks for all ur effort and explanation.

but can u give ur last charts DBHLC in candlestick bars. i want to grasp the meaning more and it will help me with candle stick formation.

thanks
thanks for the compliments Naijafx.

I am not sure what you mean exactly. did you mean to say that you want to see all these setups in the form candlesticks instead of bars?? If so then all you have to do is to note the technicalities that need to be met and look at them on your mt4, feel free to share your thoughts here just like John did

Regards,
Ghous.
I believe . . .
  • #17,696
  • Dec 31, 2008 10:41am Dec 31, 2008 10:41am
Quoting ghous
Went for Eur/gbp, Gbp/chf, and Chf/jpy instead, will
Interesting.... check my charts....lol

Quoting ghous
I'll go through your video, thankyou for the woderful gift! I was least expecting it

Regards,
Ghous.
NP..
Attached Images
  • #17,697
  • Dec 31, 2008 10:49am Dec 31, 2008 10:49am
Quoting raczekfx
Nice post ghous..

I have a NewYear present for you.
I shorted eurcad yesterday (It's hard not to trade when something comes to you on a golden plate...lol) and created quick video briefly explaining my thought process.
If interested, you can watch it HERE... I'll keep it there for few days.
Cheers and have a great and pipping 2009 all!
.
You sound great

I'll love to have a similar present 17 days from now...

Regards,
Ghous.
I believe . . .
  • #17,698
  • Dec 31, 2008 10:50am Dec 31, 2008 10:50am
Quoting raczekfx
Interesting.... check my charts....lol


NP..
Aren't you forgetting a pair Mark? EC perhaps..
Happy New Year, I am off to the beach! Stay safe people.
  • #17,699
  • Dec 31, 2008 10:52am Dec 31, 2008 10:52am
Quoting ghous
You sound great

I'll love to have a similar present 17 days from now...

Regards,
Ghous.
are u talking of EurGbp(I missed the double top)?

ayour2a
  • #17,700
  • Dec 31, 2008 10:53am Dec 31, 2008 10:53am
Quoting raczekfx
Interesting.... check my charts....lol


NP..
I must be dreaming

To find an entry somewhere around where Rac has got it, is an achievement, The happiness of which i cannot express

What a great occasion for such an achievment!

Have a great 2009 Guys!!!

Regards,
Ghous.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: egbp.gif Size: 9 KB
Click to Enlarge Name: gchf.gif Size: 9 KB
I believe . . .
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