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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

  • #36,461
  • Jul 6, 2009 2:30pm Jul 6, 2009 2:30pm
Quoting dmc
Took this 4Hr BUOB, stop at bottom of bar entry at 154.40. Rounde number, nice bar, swing low, and some space.

As bar broke up 30 pips I used the bar break stop method and moved stop up to the breaking bar low. I used this method because this trade is somewhat CT which and could be rejected by many of the bar lows to the left even though I think it has some space and could possiblly get to 155.50-156. Right now the area to watch out for is the 155, if we can break this I will move up stop some more to lock in profit.

Any thoughts? comments?...
Well done D

Just be careful now were at the 155, which is a clear PPZ area. This would be the area where I would be wanting to do something at personally. Price looks like its turning over overall, so I would be more bearish unless we can fully clear this 155 and it turn into support.

Mike
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  • #36,462
  • Jul 6, 2009 2:44pm Jul 6, 2009 2:44pm
Quoting stewrigh
Hi Ryan, - I'm also long EU from last week.

Slightly different reason tho - trend is up and higher highs - higher lows.

Attachment
hi stewrigh, just looking at your chart the last HL should be a LL no ??i would count the reaction low to the first HH you marked as my first HL.??
just mo.
jon
PATIENCE... DISCIPLINE
  • #36,463
  • Jul 6, 2009 3:08pm Jul 6, 2009 3:08pm
Quoting mbqb11
Well done D

Just be careful now were at the 155, which is a clear PPZ area. This would be the area where I would be wanting to do something at personally. Price looks like its turning over overall, so I would be more bearish unless we can fully clear this 155 and it turn into support.

Mike
Thanks Mike, definitely lookign out for these levels. Moving up my stop everytime this breaks further into 155 trying to lock profits as close as I can to 156 as I dont see it goign further than that. But we have to wait and see if price will tell us that.
  • #36,464
  • Jul 6, 2009 3:10pm Jul 6, 2009 3:10pm
7 in a row
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Keep taking CT trades, I need more money
  • #36,465
  • Jul 6, 2009 3:12pm Jul 6, 2009 3:12pm
this is one i will be taking if the bar closes like it is now. nice looking daily pinbar with a little divergence, it could be longer but it is a nice shaped bar. i like that it seems to clearly shows the buying pressure coming in under the 60.00 level. price has been ranging between the 60.00/60.50 level and the 63.00/63.50 level all last month so it looks like it could test thoughs highs again over the next few days?? All the yen xxxs are showing fairly bullish candles also(au/yen is quite a nice pin imo) i like also that the NZ/US is showing a daily BUOB
The downside is price will run into res. if it breaks at 61.00 which atm is not many pips from the break price.
any other views appreciated
jon
EDIT: price has moved a little
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PATIENCE... DISCIPLINE
  • #36,466
  • Jul 6, 2009 3:15pm Jul 6, 2009 3:15pm
Quoting g_j_hook@yah
hi stewrigh, just looking at your chart the last HL should be a LL no ??i would count the reaction low to the first HH you marked as my first HL.??
just mo.
jon

Yep I suppose you could look at it that way from the previous high of 1.43 but I re-start the process when the trend changes and it changed from down to up when price hit 1.38. After that there was a series of higher lows and higher highs, prior to that it was lower lows and lower highs. I may be wrong but thats the way I read the charts.
  • #36,467
  • Jul 6, 2009 3:25pm Jul 6, 2009 3:25pm
Quoting stewrigh
Yep I suppose you could look at it that way from the previous high of 1.43 but I re-start the process when the trend changes and it changed from down to up when price hit 1.38. After that there was a series of higher lows and higher highs, prior to that it was lower lows and lower highs. I may be wrong but thats the way I read the charts.
yeah, i suppose its what TF you look at it from. Dont mean to split hairs,lol just thought id mention it.
cheers
jon
PATIENCE... DISCIPLINE
  • #36,468
  • Jul 6, 2009 3:31pm Jul 6, 2009 3:31pm
What that means, Ryan?

Quoting Ryanmcd
7 in a row
  • #36,469
  • Jul 6, 2009 3:31pm Jul 6, 2009 3:31pm
Has anyone ran the numbers of just PB's that make it 1:1 on the 4hr vs the daily? Seems they both work about the same or even the 4hr is a little better then the daily.
Keep taking CT trades, I need more money
  • #36,470
  • Jul 6, 2009 3:32pm Jul 6, 2009 3:32pm
Quoting goldbird22
What that means, Ryan?

7 winners / BE trades 0 losses
Keep taking CT trades, I need more money
  • #36,471
  • Jul 6, 2009 3:35pm Jul 6, 2009 3:35pm
Great, congrats.
Quoting Ryanmcd
7 winners / BE trades 0 losses
  • #36,472
  • Jul 6, 2009 3:48pm Jul 6, 2009 3:48pm
Quoting Ryanmcd
Has anyone ran the numbers of just PB's that make it 1:1 on the 4hr vs the daily? Seems they both work about the same or even the 4hr is a little better then the daily.
June was an unusual month for daily and weekly setups but overall they work better and cruciallyn they can signal big big runs. Check out the beob on oil monthly last summer. But 4h setupa do seem to come around much more often. And a quick hit to 1:1 seems to be much more easy to fin on 4h.

Just my observation. I'm new to the 4H though.
  • #36,473
  • Jul 6, 2009 3:51pm Jul 6, 2009 3:51pm
EURUSD 4HR pinbart seems to work well so far... I have move my SL to +3. I like "winners-no-matter-what-happens-now"

Ryanmcd could you please tell me what is your TP on this trade and why? Just want to learn something from you... My TP is 1.3998 but maybe I am too "shy" here... Just think this level is a strong resistance... what is your opinion?
Live it or leave it!
  • #36,474
  • Jul 6, 2009 4:09pm Jul 6, 2009 4:09pm
Quoting g_j_hook@yah
this is one i will be taking if the bar closes like it is now. nice looking daily pinbar with a little divergence, it could be longer but it is a nice shaped bar. i like that it seems to clearly shows the buying pressure coming in under the 60.00 level. price has been ranging between the 60.00/60.50 level and the 63.00/63.50 level all last month so it looks like it could test thoughs highs again over the next few days?? All the yen xxxs are showing fairly bullish candles also(au/yen is quite a nice pin imo) i like also that the NZ/US is showing...
very nice jon
im looking @ audjpy, very similar setup but the bullish pin isnt as sweet as urs but it shld close within the previous bar
yeah! im already in usdjpy h4 pin but its also forming a sweet h8 pin for those dat missed the 1st imo
see charts below
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Simplicity is the key to success
  • #36,475
  • Jul 6, 2009 4:12pm Jul 6, 2009 4:12pm
Quoting Slurpee
EURUSD 4HR pinbart seems to work well so far... I have move my SL to +3. I like "winners-no-matter-what-happens-now"

Ryanmcd could you please tell me what is your TP on this trade and why? Just want to learn something from you... My TP is 1.3998 but maybe I am too "shy" here... Just think this level is a strong resistance... what is your opinion?

1.4058 it's 2x risk BUT I run a trail stop too so I lock in $$$ if it turns.
Keep taking CT trades, I need more money
  • #36,476
  • Jul 6, 2009 4:13pm Jul 6, 2009 4:13pm
Quoting TiaForex
June was an unusual month for daily and weekly setups but overall they work better and cruciallyn they can signal big big runs. Check out the beob on oil monthly last summer. But 4h setupa do seem to come around much more often. And a quick hit to 1:1 seems to be much more easy to fin on 4h.

Just my observation. I'm new to the 4H though.

4hr fit me better, most trades about 1-2 days max keep the trades going as well as money flowing
Keep taking CT trades, I need more money
  • #36,477
  • Jul 6, 2009 4:17pm Jul 6, 2009 4:17pm
Okay!!! But is it pay day on all the pin bars forming on the daily charts or am I just out there!!
  • #36,478
  • Jul 6, 2009 4:20pm Jul 6, 2009 4:20pm
lol..dito the 4h us/yen pin. lets see how it runs over the asian session? i like how the US futures (dow,S&P,NASDAQ mini)have closed with bullish looking bars also.
good luck
jon
PATIENCE... DISCIPLINE
  • #36,479
  • Jul 6, 2009 4:29pm Jul 6, 2009 4:29pm
Which ones to take!!!!!!
  • #36,480
  • Jul 6, 2009 4:31pm Jul 6, 2009 4:31pm
Quoting Ryanmcd
Has anyone ran the numbers of just PB's that make it 1:1 on the 4hr vs the daily? Seems they both work about the same or even the 4hr is a little better then the daily.
No science on it (Although it would not be hard...)

But it seems to me you get a better R:R on the 4hr. It is possible since I see and trade more of them on the 4hr, it is illusory, but that is what my sense is. Grabbed a PB today on the GU that is up 1:2.5. (With luck, it will reach 9R by Wed/Thu sometime...
I'm pretty much done with all this ...
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