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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

  • #19,521
  • Jan 25, 2009 11:11am Jan 25, 2009 11:11am
Quoting flyer415
My understanding of how James looks at those bars is he would call them "neutral bars". From what i can see the open and close are almost identical. Now maybe my eyes are old and i couldn't see the attached chart properly.

Yep those are simply neutral bars. To become BUOBs/or BEOBS. you need the close much more towards the high or low respectfully.


Mike
  • #19,522
  • Jan 25, 2009 11:59am Jan 25, 2009 11:59am
You got that right it's a bit of both I like to get in at very good prices with minimal risk, hence my retrace entries. I miss a lot of trades this way, but it lowers my risk and I get in at good prices.

I trade using Oanda, so my positions are nano size, and I still apply money management. I guess when in doubt sit it out Also keep in mind there is some news releases for the US on Monday and a big one for the CHF on Tuesday, not sure how those will affect the currency.


Quoting bundyraider
Fear and/or greed are preventing you from using scenario one, which is what I recommend if you are asking that question.

If you're worried about stop size, it's because of either too small of an account, or your broker's lack of small enough lot sizes.

You pretty much answered your own question.

Don't try too hard to trade retraces until you have got a handle on the leading bar formations....
  • #19,523
  • Jan 25, 2009 12:37pm Jan 25, 2009 12:37pm
Quoting sonicdeejay
they look just like a Pin Bar to me..not BUOB...

anyway thx for the insight..

http://www.forexfactory.com/attachme...1&d=1232825037
I really like how this example demonstrates the psychology of whats going during these particular times. The first outside bar can show you that from the move down, the players are in their state of indecision and most likely waiting for the move of others to start the moving again. The open and close are almost identical during this 4 hour session, with a higher high and lower low than the previous. Then right after the OB you get an inside bar with almost a identical open and close, and you notice neither the high or low of the OB was tested, possibly meaning that on the lower time frames, traders are battling it out. Then the next candle, a move is made, breaks and closes below the low of the OB session and of course the IB session, the high of the inside bar is tested but fails, and again the session closes below the low of the indecision levels of the OB and IB. Match that with visual down trend at that current time.

Then again with the indecision on the second outside bar displayed, you have the high of the previous candle tested, with the open and close the same. Then you have break up on the next candle, taking out the highs, possible correction on the lower time frames. Then another steep drop breaking all the barriers of lows and psychological levels.
"Your big opportunity may be right where you are now." Napoleon Hill
  • #19,524
  • Jan 25, 2009 1:21pm Jan 25, 2009 1:21pm
Quoting gannina
What do you guys think about this entry and stop loss for the USD/CHF. .............
It does seems like that the Pin Bar in the chart could just be pull back after crossing the PPZ and the round number just below it could make hard pin bar to trade. Just my 2 cents..
Attached Image (click to enlarge)
Click to Enlarge Name: usd-chf for ff.gif Size: 10 KB
Find an Edge. Only way to succeed in this business.
  • #19,525
  • Jan 25, 2009 1:41pm Jan 25, 2009 1:41pm
I'm in agreement with jattputt. If I was going to take this PB I would put my order below the ppz and look for a TP at the 150 which also is the 38 fib on the last climb and pretty darn close to the 360 and also a potential ppz based on earlier S/R.
  • #19,526
  • Jan 25, 2009 2:23pm Jan 25, 2009 2:23pm
I am of the same opinion on the eur/usd daily pin....Im not interested until it gets above the 1.3100 level....just my two pips worth....pipip.....Jimdandy
  • #19,527
  • Jan 25, 2009 2:25pm Jan 25, 2009 2:25pm
I'm seeing the term PPZ used a lot does that stand for Price Pattern Zone?
  • #19,528
  • Jan 25, 2009 2:27pm Jan 25, 2009 2:27pm
Quoting gannina
I'm seeing the term PPZ used a lot does that stand for Price Pattern Zone?
Price Pivot Zone. (Support and Resistance Zone.)
  • #19,529
  • Edited 5:27pm Jan 25, 2009 2:45pm | Edited 5:27pm
hi everyone, currently short us/cad was wondering if anybody would like to comment on my chart.got my stop at just above 124.50,a little better than BE.
it seems to have hit its first problem area and i am waiting to see if price breaks below the 122.00 area and ,hopfully drop down to the 120.00 level??
anyone in this trade?

EDIT:sorry took entry off 4h chart
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: us.cad4h.jpg Size: 155 KB
PATIENCE... DISCIPLINE
  • #19,530
  • Jan 25, 2009 2:51pm Jan 25, 2009 2:51pm
Has anyone got any input on this AudNzd Weekly Pin?
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd weekly.gif Size: 19 KB

I don't usually follow this pair myself.....
  • #19,531
  • Jan 25, 2009 3:13pm Jan 25, 2009 3:13pm
for what its worth i like the us/chf pin, or i should say i like its location.price is facing trend lines fib levels ppzs.therers a lot to get through imo
looking to short the pair below 1.1500 targeting 1300 for 1st t.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: us.chfweekly.jpg Size: 125 KB
Click to Enlarge Name: us.chdaily.jpg Size: 147 KB
PATIENCE... DISCIPLINE
  • #19,532
  • Jan 25, 2009 3:22pm Jan 25, 2009 3:22pm
Quoting JimDandy
Has anyone got any input on this AudNzd Weekly Pin?
Attachment
I don't usually follow this pair myself.....
Interesting...a pinbar right after a BUOB...
But there's an immediate support around the 1.2150ish area

If you drop down to the Daily chart, you could see a DBHLC with around 3 pips difference...
  • #19,533
  • Jan 25, 2009 4:16pm Jan 25, 2009 4:16pm
Quoting JimDandy
Has anyone got any input on this AudNzd Weekly Pin?
Attachment
I don't usually follow this pair mylf.....
In my huble opinion it's going to fall in traffic aerea,but i could be wrong.
Bye....
Patience is essential
  • #19,534
  • Jan 25, 2009 7:49pm Jan 25, 2009 7:49pm
Hi All,

I need your advise of GU direction
is that correct if the gu to be going to 1.3 level ?
base on monthly chart


brgds
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: GU mth.JPG Size: 117 KB
  • #19,535
  • Jan 25, 2009 7:59pm Jan 25, 2009 7:59pm
Quoting my30marahaba
Hi All,

I need your advise of GU direction
is that correct if the gu to be going to 1.3 level ?
base on monthly chart


brgds
my30marahaba

My advice,

clean your chart and you`ll get a better perspective
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #19,536
  • Jan 25, 2009 10:44pm Jan 25, 2009 10:44pm
uj
.
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  • #19,537
  • Jan 25, 2009 10:50pm Jan 25, 2009 10:50pm
Waiting a PA to confirm, or only Divergence+S/R?
Quoting raczekfx
uj
.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #19,538
  • Jan 25, 2009 11:00pm Jan 25, 2009 11:00pm
Quoting raczekfx
uj
.


oi.... stop teasing....
  • #19,539
  • Jan 25, 2009 11:06pm Jan 25, 2009 11:06pm
Quoting ikki
Waiting a PA to confirm, or only Divergence+S/R?

No...,
I'm already in from 'somewhere' in the blue rectangle. Will keep scaling in on PA
.
Quoting rustyjeff
oi.... stop teasing....
.... you're bad Jeff...
Attached Images
  • #19,540
  • Jan 25, 2009 11:12pm Jan 25, 2009 11:12pm
Attached Image (click to enlarge)
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