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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

  • #21,141
  • Edited 12:28am Feb 12, 2009 12:17am | Edited 12:28am
Yes, thank you Thexder for the insightful tutorial. I tend toward logically sound rationale and everything you said was certainly that. I think the reason for trading them only on the longer TFs is especially solid since it filters out IBs caused by dead times. Turning to the oil, the lull that seems to occur in that chart might be explained by this, no?
  • #21,142
  • Feb 12, 2009 12:31am Feb 12, 2009 12:31am
I was looking at thexders chart and i wondered are we seeing a retest since support broke? And should be looking for shorts?
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  • #21,143
  • Feb 12, 2009 12:43am Feb 12, 2009 12:43am
Quoting NoBread
I was looking at thexders chart and i wondered are we seeing a retest since support broke? And should be looking for shorts?
I have the 4 hour version of the chart up and have been watching for price action. On that time frame it's clearly now consolidating just under the high consolidation zone seen last week on the 4 hour, so a good long Pin up through that would be nice.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #21,144
  • Feb 12, 2009 12:48am Feb 12, 2009 12:48am
Quoting johnnyonspot
Turning to the oil, the lull that seems to occur in that chart might be explained by this, no?
Some would say it's dead time while others may say simply that supply and demand are in relative balance so all the trading is happening within that narrow price range until the imbalance comes and it breaks up or down...I don't really know how it works, I just try to capture it when it does what it does. If you lump all those 1 hour small bars together you'd probably have a daily IB somewhere in there that could be traded, but there's presently probably many hourly IBs that wouldn't go anywhere except sideways.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #21,145
  • Feb 12, 2009 2:09am Feb 12, 2009 2:09am
Quoting Thexder
I have the 4 hour version of the chart up and have been watching for price action. On that time frame it's clearly now consolidating just under the high consolidation zone seen last week on the 4 hour, so a good long Pin up through that would be nice.
I am in the short my friend....

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  • #21,146
  • Feb 12, 2009 2:15am Feb 12, 2009 2:15am
Quoting Shermenator
I am in the short my friend....
So am I. I better get to bed, have to get up in an hour and 45 minutes.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #21,147
  • Feb 12, 2009 2:46am Feb 12, 2009 2:46am
I got it, but I do not believe it can be attributed to anything but a good guess. I thought I saw hidden divergence on the Stochastic, along with a break of the IB, and I did, but Thexder's advice re higher TF than 4hr is sound I believe. Over the long haul this could get expensive. And this might turn into plain old vanilla divergence and we'd have a ride down.
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  • #21,148
  • Feb 12, 2009 2:49am Feb 12, 2009 2:49am
Quoting jarroo
Great post on Inside Bars Thexder. Great insight. Thanks.
I can only second that. Great post!
Thanks Thexder!

RM
  • #21,149
  • Feb 12, 2009 2:56am Feb 12, 2009 2:56am
more gbp weakness today

used I4B on 4hr as entry for the breakout

edit same for gbpchf - not sure if it wil break daily ppz so taken some off and at BE
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  • #21,150
  • Feb 12, 2009 3:08am Feb 12, 2009 3:08am
Quoting simoncs
more gbp weakness today

used I4B on 4hr as entry for the breakout

edit same for gbpchf - not sure if it wil break daily ppz so taken some off and at BE
Nice trade simoncs
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #21,151
  • Feb 12, 2009 3:09am Feb 12, 2009 3:09am
GBPCHF will move stop to break even very fast due to market conditions...

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  • #21,152
  • Feb 12, 2009 3:22am Feb 12, 2009 3:22am
Quoting Shermenator
GBPCHF will move stop to break even very fast due to market conditions...

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what was the price action signal?
  • #21,153
  • Feb 12, 2009 3:25am Feb 12, 2009 3:25am
Quoting Piproo
what was the price action signal?
That market makers hits stop .....I mostly trade the oppossite of what retail traders do....I am a stop hunter and when I see stop have been hit then I know the market whants to go the other way and Ill trade with them....
  • #21,154
  • Feb 12, 2009 3:35am Feb 12, 2009 3:35am
Break even has been hit easy trading...winner will run and crappy winners will struggle I am only trading the runners lol...

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  • #21,155
  • Feb 12, 2009 4:04am Feb 12, 2009 4:04am
We have BEOB..pattern in EU 4H....

Sonic
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  • #21,156
  • Feb 12, 2009 4:19am Feb 12, 2009 4:19am
Also have a BEOB on EUR/JPY 4HR after about 2 days of consolidation...
  • #21,157
  • Feb 12, 2009 4:37am Feb 12, 2009 4:37am
Quoting Shermenator
That market makers hits stop .....I mostly trade the oppossite of what retail traders do....I am a stop hunter and when I see stop have been hit then I know the market whants to go the other way and Ill trade with them....
so u mean ur trade not based on price action? is this covered by james16 material?
  • #21,158
  • Feb 12, 2009 4:41am Feb 12, 2009 4:41am
Quoting Piproo
so u mean ur trade not based on price action? is this covered by james16 material?
I trade what price is doing....not a candle in specific if price gives the candle its simply what price is doing ...candles come with price ....many people are still to focuse on what the candle means and not on what proffesional money is doing...I always ask myself if the candle formation aligns with what market makers are attmpting to do...I look at price overall and what market makers would do and if they are trying to actually get trders on the wrong side of the trade or if the candle formation is actually ready to really workout
  • #21,159
  • Feb 12, 2009 4:48am Feb 12, 2009 4:48am
We have BEOB..pattern in EU 4H....SonicThat BEOB seems to be in consolidation area
  • #21,160
  • Feb 12, 2009 4:53am Feb 12, 2009 4:53am
Quoting Shermenator
I trade what price is doing....not a candle in specific if price gives the candle its simply what price is doing ...candles come with price ....many people are still to focuse on what the candle means and not on what proffesional money is doing...I always ask myself if the candle formation aligns with what market makers are attmpting to do...I look at price overall and what market makers would do and if they are trying to actually get trders on the wrong side of the trade or if the candle formation is actually ready to really workout
so it's not what james16 and most ppl trading and stuyding here?
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