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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

  • #21,881
  • Feb 19, 2009 5:48am Feb 19, 2009 5:48am
Quoting mrsingha
Can someone please explain an I4B pattern to me. I allows thought it was 3 subsequent candles all of which are inside the range of a larger mother candle (the one marked with arrows).
Have I got it wrong?

Steve.
Hello Steve! That doesn't look like a I4B to me
Iam not able put on a chart right now. Thanks
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #21,882
  • Feb 19, 2009 6:04am Feb 19, 2009 6:04am
Quoting poplar
look like very good place. still not close yet, but if close at pinbar i think very good ? any comment?
I think this could have good potential, at least to make it to the top of the previous bars. It's off a 50% fib retracement and the big 1.2500 round number. However... Have a look at the time left on the bar on your chart - 145 mins till bar close! that's nearly 2 1/2 hours! If you want my advice, don't look at your 4 charts until there's 10-15 minutes to go until the close. Otherwise you'll spend all day staring at your charts thinking 'what if'.

Chris
  • #21,883
  • Feb 19, 2009 6:06am Feb 19, 2009 6:06am
Quoting hijackxx
If these Bs and Cs works when you stopped taking them, it just shows us that anything can happen in these markets!
Well...anything can happen in the market...that's why even A+++ trade sometimes just doesn't work
  • #21,884
  • Feb 19, 2009 6:11am Feb 19, 2009 6:11am
Quoting mrsingha
Can someone please explain an I4B pattern to me. I allows thought it was 3 subsequent candles all of which are inside the range of a larger mother candle (the one marked with arrows).
Have I got it wrong?

Steve.

Hi Steve,

This should be of help to you:

http://www.trading-naked.com/insidebarNR4x.htm

Was posted on this thread by someone else around post 1115. I found it pretty helpful.

Cheers
MM
  • #21,885
  • Feb 19, 2009 6:13am Feb 19, 2009 6:13am
HI guys!
Right now I'm standing against a trading decision but the problem that makes me think take it or not is two different feeds.

Chart 1 Is IBFX feed that gives no sign to go long
Chart 2 Is Poltek FX feed that shows a beautiful pin bar is being formed, about 100 mins left until the bar close but anyway.

I really need you comments to direct me to the point
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: poltekfx.gif Size: 19 KB
  • #21,886
  • Feb 19, 2009 6:22am Feb 19, 2009 6:22am
Quoting Chris P
I think this could have good potential, at least to make it to the top of the previous bars. It's off a 50% fib retracement and the big 1.2500 round number. However... Have a look at the time left on the bar on your chart - 145 mins till bar close! that's nearly 2 1/2 hours! If you want my advice, don't look at your 4 charts until there's 10-15 minutes to go until the close. Otherwise you'll spend all day staring at your charts thinking 'what if'.

Chris
yes good idea i will come back to look at 15m before closed. i hope close at good pb.
  • #21,887
  • Feb 19, 2009 6:30am Feb 19, 2009 6:30am
Quoting MinceMeat
Hi Steve,

This should be of help to you:

http://www.trading-naked.com/insidebarNR4x.htm

Was posted on this thread by someone else around post 1115. I found it pretty helpful.

Cheers
MM
Thanks for that Mince. Or is it Mr. Meat?
"The more I practice, the luckier I get." (Gary Player)
  • #21,888
  • Feb 19, 2009 6:36am Feb 19, 2009 6:36am
Quoting poplar
yes good idea i will come back to look at 15m before closed. i hope close at good pb.
so do I

Quoting datogio
HI guys!
Right now I'm standing against a trading decision but the problem that makes me think take it or not is two different feeds.

Chart 1 Is IBFX feed that gives no sign to go long
Chart 2 Is Poltek FX feed that shows a beautiful pin bar is being formed, about 100 mins left until the bar close but anyway.

I really need you comments to direct me to the point
I think you've done a good job on identifying your areas of support and resistance on your chart datogio, well done!

Here's my analysis of this potential setup. As the bar is currently forming in a area of support/resistance, I'd ideally like to see it close just above this at the 1.2540 level. A close around here would mean that the rbeak of the bar would be taking price away from all the previous bar highs/lows, and we shouls see it then retest the next area as marked on my chart. This would also give the PB a bullish look. Directional bias is something I always prefer to see when looking at pins forming on timeframes below the daily.

The fact it looks different on the two feeds doesn't concern me much. I have 3 feeds which I look for different closes on the 4h charts. I believe in trading what you see, and by having 3 different 4h closes, this presents me with more possible trading opportunities. Of course, all the other factors have to line up as well

Chris
Attached Image (click to enlarge)
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  • #21,889
  • Feb 19, 2009 6:39am Feb 19, 2009 6:39am
hey everyone,

looks like a nice PB on e/g
for:
1. good looking - classic
2. inside the previous bar
3. bounce of 61.8
4. little divergence on the stoch

against:
1. previous too small
2. ppz 0.8840
3. 365 ema (blue) 60 pips away

Thanks, but no thanks. will not take it.
Any comments appreciated
Attached Image (click to enlarge)
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  • #21,890
  • Feb 19, 2009 6:48am Feb 19, 2009 6:48am
Quoting mrsingha
Can someone please explain an I4B pattern to me. I allows thought it was 3 subsequent candles all of which are inside the range of a larger mother candle (the one marked with arrows).
Have I got it wrong?

Steve.
Steve - I play I4B as the smallest bar of the preceeding bars. It does not have to be within the range of the last bar. However like all of this stuff it's where it's located that's important.
In this case i knew 125 was a very strong level and was short down to it, so closed my position and expected a bounce - i missed the touch and so played the I4B as it gave me a low risk entry.
  • #21,891
  • Feb 19, 2009 7:00am Feb 19, 2009 7:00am
Quote
I think you've done a good job on identifying your areas of support and resistance on your chart datogio, well done!

Here's my analysis of this potential setup. As the bar is currently forming in a area of support/resistance, I'd ideally like to see it close just above this at the 1.2540 level. A close around here would mean that the rbeak of the bar would be taking price away from all the previous bar highs/lows, and we shouls see it then retest the next area as marked on my chart. This would also give the PB a bullish look. Directional bias...

Thanks a lot Chris
  • #21,892
  • Feb 19, 2009 7:05am Feb 19, 2009 7:05am
Quoting ady27
hey everyone,

...against:
1. previous too small
2. ppz 0.8840
3. 365 ema (blue) 60 pips away

Thanks, but no thanks. will not take it.
Any comments appreciated
I was just looking at your chart compared to mine. My day starts at 5:00EST, so I have no 'Sunday' bars. Compare my 365EMA to yours (mine is the orange one). I was surprised at how different they are. Mine is valued at 0.8935.

So, as we know, we are advised to trade what we see, while 'ignoring' the Sunday bars. Do most people use Sunday bars or do most start their day at 5:00EST... it appears to make a difference, even if the 4 hour timeframe generally starts at the same time (as they do on our charts). (My pinbar started at 1:00am EST.)

Hope this isn't confusing.

As for the trade long on the pinbar, I would wait... the pin doesn't really define a swing low... as you said we had a few small bars prior.

Josh

EDIT: Please disregard the other highlighted bars. I highlighted them early on, before I knew all the 'rules'.
Attached Image (click to enlarge)
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  • #21,893
  • Feb 19, 2009 7:15am Feb 19, 2009 7:15am
Quoting ady27
hey everyone,

looks like a nice PB on e/g
for:
1. good looking - classic
2. inside the previous bar
3. bounce of 61.8
4. little divergence on the stoch

against:
1. previous too small
2. ppz 0.8840
3. 365 ema (blue) 60 pips away

Thanks, but no thanks. will not take it.
Any comments appreciated
Hi ady
I think it's good setup, 0.8800 is strong daily PPZ
  • #21,894
  • Feb 19, 2009 7:18am Feb 19, 2009 7:18am
Quoting simoncs
Steve - I play I4B as the smallest bar of the preceeding bars. It does not have to be within the range of the last bar. However like all of this stuff it's where it's located that's important.
In this case i knew 125 was a very strong level and was short down to it, so closed my position and expected a bounce - i missed the touch and so played the I4B as it gave me a low risk entry.
Thanks for the explanation Simon. I've seen posts before saying "entered on the I4B" and I've been left scratching my head after looking at their charts trying to find my understanding of the pattern.
Cheers.

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #21,895
  • Feb 19, 2009 7:39am Feb 19, 2009 7:39am
Quoting ady27
hey everyone,

Thanks, but no thanks. will not take it.
Any comments appreciated
Hi Ady,

IMO you cam to the right conclusion on this PB. Yes the location is pretty good - 0.8800 round number, fib, ppz, but I just felt that it would have a hard time pushing through the resistance that has been created by the bars to the left of it.

What I would heve preferred to see is the setup which I've drawn on my chart to the left, where a pb forms off a ppz, but with plenty of space to run back into. This trade could work out for thos who took it, but for me it's just not as clear cut as I'd like to see.

Chris
Attached Image (click to enlarge)
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  • #21,896
  • Feb 19, 2009 7:40am Feb 19, 2009 7:40am
Quoting DanUK
Would anyone else have taken this trade or would the congestion have made it too risky?
Anyone?
  • #21,897
  • Feb 19, 2009 7:46am Feb 19, 2009 7:46am
Quoting DanUK
Hi all,

Isn’t it funny how sometimes it can take so long for something so simple to “click”! I must have started reading this thread at the start of 2008 but it has only just dawned on me just what a Pivot Point Zone is! For a long time I was convinced it was just support or resistance, I didn’t realise it was the flip zone!

Anyway I think the penny has finally dropped so I now hope to do some profitable demo trading with this method!

Could someone give me some advice about this 4 hour E/J pin that recently formed (attached below)....
Hi Dan,

I wouldn't have taken the pin for a few main reasons.
1) Not at a swing low
2) Would be entering in a PPZ zone (118.05ish)
3) It's on the 4 hour and I am a newbie, so only trading daily and longer.

I see it worked out quite well though, so nice trade if you did take it.

Josh
  • #21,898
  • Feb 19, 2009 7:57am Feb 19, 2009 7:57am
Quoting Jduester
Hi Dan,

I wouldn't have taken the pin for a few main reasons.
1) Not at a swing low
2) Would be entering in a PPZ zone (118.05ish)
3) It's on the 4 hour and I am a newbie, so only trading daily and longer.

I see it worked out quite well though, so nice trade if you did take it.

Josh
Hi Josh,

Thanks for your comments. I didn't take the trade although I was quite tempted. The reason I didn't was because of the first two reasons you mentioned - although I did feel it would have been entering in the direction of the trend which seems to be a good thing I think!

Regards, Dan
  • #21,899
  • Feb 19, 2009 8:03am Feb 19, 2009 8:03am
Quoting DanUK
Anyone?
Hi Dan,

I think Josh covered the main points in his post. I look for PA at the highs and lows of swings/ranges. The PB you pointed out did come off a minor ppz, but I prefer to see them at very obvious levels. That way you are more likely to have order flow on your side and come away with a profitable trade. This one did work out well though and went to the next ppz as you might expect.

I've marked on my chart the areas I'd be watching for PA to form.

If in doubt, stay out The really good ones will stand up and smack you in the face shouting "trade me!" (haha sorry bit under the weather and obviously being a bit random )

Chris
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  • #21,900
  • Feb 19, 2009 8:05am Feb 19, 2009 8:05am
nearly an I4B but an IB none the less.
breakout of triangle using IB as entry point
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