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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

  • #37,161
  • Jul 11, 2009 1:48pm Jul 11, 2009 1:48pm
Quoting stoli7188
Finally got consistent at taking 4hr trades and worked 4hr trading into my lifestyle....
Loved your post Stoli. Went back to check it out when Mike gave the heads up.

I have a question about divergence though. Perhaps one of the seniors could chime in. I don't think the divergence you show in your charts supports your trade. The oscillator is diverging from price true, but it is pointing away from the direction you're taking the trade. So it would only be a useful sign if price was making higher highs and the oscillator was showing lower highs AND you were looking to sell.

I'm not sure about this. So maybe one the guys can tell me if I'm right. I'm looking at you Mike...
  • #37,162
  • Jul 11, 2009 1:51pm Jul 11, 2009 1:51pm
Quoting mbqb11
seriously and I do this for all my videos, if you could see me at my desk. There are a lot of curse words abruptly in the video. And then I say man that sucks, and delete it. You guys would probably get a kick out of it but they get quickly deleted.

I am much better at the live webinars b/c it doesn't give me time to over think and I just talk.

I will get there though. !

Mike
Don't worry Mike. I see you making really good progress. When I think of where you were a year ago to where you are now, you've learned so much.

It's all part of the curve. With your patience and dedication I really see you making it.

Perhaps I could suggest reading the thread from the beginning again? It can really help in times like these.
  • #37,163
  • Jul 11, 2009 1:57pm Jul 11, 2009 1:57pm
Quoting ghous
2 Doji's side by side now...(after a decent up move of 4 good sized bullish bars there presence is screaming)

Momentum building?

I always look at these cuties as compressed springs.

Price really has been squashed between a tiny range, the longer it stays like this the greater will be the "burst out"

PA is amazing guys, and it's got more to it then just outside inside and pin bars...

Trading these bars is something different but at least an...
Hi Ghous,

I am assuming that you have a bearish bias because of the down arrow. Is it because of the ppz going back to about April 08. Is it because the fib is in the region of 50% 61.8%, or is because the trend seems to changed.

Ghous, thanks as usual for your in dept analysis response.

  • #37,164
  • Jul 11, 2009 2:28pm Jul 11, 2009 2:28pm
Quoting TiaForex
Don't worry Mike. I see you making really good progress. When I think of where you were a year ago to where you are now, you've learned so much.

It's all part of the curve. With your patience and dedication I really see you making it.

Perhaps I could suggest reading the thread from the beginning again? It can really help in times like these.
I'm pretty much done with all this ...
  • #37,165
  • Jul 11, 2009 3:08pm Jul 11, 2009 3:08pm
Quoting TiaForex
Loved your post Stoli. Went back to check it out when Mike gave the heads up.

I have a question about divergence though. Perhaps one of the seniors could chime in. I don't think the divergence you show in your charts supports your trade. The oscillator is diverging from price true, but it is pointing away from the direction you're taking the trade. So it would only be a useful sign if price was making higher highs and the oscillator was showing lower highs AND you were looking to sell.

I'm not sure about this. So maybe one the guys can tell me...

hey Tia, sorry maybe its not my place to answer but that is hidden divergence and unlike regularl div. it shows a trend continuation insted of a reversal.

http://www.babypips.com/school/diver...eat_sheet.html
  • #37,166
  • Jul 11, 2009 3:49pm Jul 11, 2009 3:49pm
Quoting tormo
hey Tia, sorry maybe its not my place to answer but that is hidden divergence and unlike regularl div. it shows a trend continuation insted of a reversal.

http://www.babypips.com/school/diver...eat_sheet.html
Thanks Tormo, that explains it. And it's definitely your place to answer. Much appreciated.
  • #37,167
  • Edited 2:00am Jul 12, 2009 1:08am | Edited 2:00am
Quoting forexngo
Dear Ghous,

Great appreciation for your posts and whatever you have taught here.

Could you please give me further explaination on the Pin Bar & IB Pinbar:
Is it that...you mean bullish PB is the blue ones and the bearish PB is the Red ones?

How you quote if the bearish PB occuring at swing low, but at a decent pullback to an down trend?
and how if the bullish PB occuring at swing high, but at a decent pullback to the up trend?

And thanks a big..if you post the chart illustrated for each case

Since my computer has just been...
Quote
Could you please give me further explaination on the Pin Bar & IB Pinbar:
Is it that...you mean bullish PB is the blue ones and the bearish PB is the Red ones?
Yes, a bullish Pin bar is a blue bar and a bearish pin bar is a red bar (I assume you have colored your bear bars red and bull bars blue) but a pin bar can also take the shape of a doji where price closes exactly where it opened, or it could have a very small body of either color so color really is not as important as the bar shape it self.

I.e for a bullish pin bar the lower wick has to be significantly longer than the upper wick and the body has to be small or non existent. For a bearish pin bar the upper wick is much longer than the lower wick and again the body has to be small or non existent.

Quote
How you quote if the bearish PB occuring at swing low, but at a decent pullback to an down trend?
and how if the bullish PB occuring at swing high, but at a decent pullback to the up trend?
What I meant was was that a bullish pin bar has a bullish effect at a swing low. It also has a bullish effect when at a pull back to an up trend (i.e when price temporarily makes a move down during an up trend to allow the bulls to catch their breath) It has a bearish effect when at a swing high or when it occurs at a pull back to a down trend.

A bearish pin bar has a bearish effect....oh wait I guess I'll do a visual chart on this, I am trying to make it as simple as I possibly can but looks like it's still confusing you...hang on...

Quote
And thanks a big..if you post the chart illustrated for each case
You request sucked up a good hour or so of mine, lol..but np. here you are...(charts at the end of the post)

Quote
Since my computer has just been re-installed new, so i lost all the usful link of the this great thread...then please give me back the link of summary of the thread and link teaching detailed of playing IB and IPB.
Go through the first post of the thread. I guess Josh's summary is acknowledged by Jim on that post.

Regards,
Ghous.
Attached Images
I believe . . .
  • #37,168
  • Jul 12, 2009 1:12am Jul 12, 2009 1:12am
Quoting Borrob
Hi Ghous,

I am assuming that you have a bearish bias because of the down arrow. Is it because of the ppz going back to about April 08. Is it because the fib is in the region of 50% 61.8%, or is because the trend seems to changed.

Ghous, thanks as usual for your in dept analysis response.

All of these actually...
I believe . . .
  • #37,169
  • Jul 12, 2009 1:14am Jul 12, 2009 1:14am
Quoting TiaForex
Don't worry Mike. I see you making really good progress. When I think of where you were a year ago to where you are now, you've learned so much.

It's all part of the curve. With your patience and dedication I really see you making it.

Perhaps I could suggest reading the thread from the beginning again? It can really help in times like these.
lol Tia,

Jokes aside your help to most newbies like Mike is commendable. Good job.

...
I believe . . .
  • #37,170
  • Jul 12, 2009 1:33am Jul 12, 2009 1:33am
Quoting ghous
BTW...where's the climate Czar??

When I woke up today in the morning I was hoping that a good hot discussion would have taken it's place.
I can't stay long but I will leave you with this.

Why is it so easy to understand the man cannot stop the plate tectonics of the Earth, yet man can be able to cause atmospheric changes (either warming or cooling)? Once one understands the statement of "man cannot stop the plate movements of the Earth" equally with "man cannot cause atmosphere changes" you have arrived at the understanding between the relationship of man and Earth.

I like this excerpt from Michael Crichton book "Jurassic Park" read by Charlton Heston.

Inserted Video


We live on an active planet. Earthquakes are continuous, a 1.5 million a year, ( a richter 5.0 hits every 6 hours.) 1500 electrical storms are performing on the Earth at any given moment. There are 90 hurricanes every year. Could we have stopped Hurricane Katrina?

Volcanoes spew out more pollutants and toxic chemicals than man could ever produce. About 50-60 volcanoes erupt every year. 20-30 are effusive (lava flows), 20-30 are explosive. Not counting the volcanoes under the sea. This will continue for the next 10000s of year as it has in the last 10000s of years.

And so on and so on . .
Indicators show the past. Price Action "Indicates" the future.
  • #37,171
  • Jul 12, 2009 1:54am Jul 12, 2009 1:54am
Quoting ghous

A bearish pin bar has a bearish effect....oh wait I guess I'll do a visual chart on this, I am trying to make it as simple as I possibly can but looks like it's still confusing you...hang on...

Regards,
Ghous.
Ok here is a visual explanation of where we look for our bullish and bearish IPBs.

Again to remind Ya'll...

a bearish IPB is a bullish pin bar

a bullish IPb is a bearish pin bar.

I didn't include pin bar locations just so to keep it simple besides pin bars are not new to us anyways...

Regards,
Ghous.
Attached Images
I believe . . .
  • #37,172
  • Jul 12, 2009 2:06am Jul 12, 2009 2:06am
You the man, Ghous!

You request sucked up a good hour or so of mine, lol..but np. here you are...(charts at the end of the post)

Since i know ..you are great of patience and dedication to newbies like me. lol. You are my hero in the field

Your further explanation and nice charts..really makes my day!

Go through the first post of the thread. I guess Josh's summary is acknowledged by Jim on that post.

..i know you know the link...LOL...
Above all....you are ....great thanks!
Regards,
forexngo
  • #37,173
  • Jul 12, 2009 3:01am Jul 12, 2009 3:01am
Quoting forexngo

Go through the first post of the thread. I guess Josh's summary is acknowledged by Jim on that post.

..i know you know the link...LOL...
Above all....you are ....great thanks!
Regards,
forexngo
lol!

I really didn't.

But going through Josh's posts I found it...

J16 Chart thread summary

Regards,
Ghous.
I believe . . .
  • #37,174
  • Jul 12, 2009 4:11am Jul 12, 2009 4:11am
Ghous you say below 'Notice how the IPB high failed to make it above the high of the previous bar' but your chart shows the high of the IPB is higher than the previous bar.

Did you possibly mean the close?

http://static.forexfactory.com/forex...1&d=1247379040
  • #37,175
  • Jul 12, 2009 5:17am Jul 12, 2009 5:17am
Quoting ljr
Ghous you say below 'Notice how the IPB high failed to make it above the high of the previous bar' but your chart shows the high of the IPB is higher than the previous bar.

Did you possibly mean the close?

http://static.forexfactory.com/forex...1&d=1247379040
No I meant the high,

The IPB high failed to make it well above the previous bar, it was not by the pip but clearly it wasn't able to break the previous bar high like it would have had the up trend been intact.

Remember we're looking at PA signals to suggest a halt/reversal/pull back in a trend. The IPB is one, lack of bull pressure evident from the side by side bar highs (fromthe IPB and the bar before) is another.
I believe . . .
  • #37,176
  • Jul 12, 2009 5:34am Jul 12, 2009 5:34am
Quoting ghous
No I meant the high,

The IPB high failed to make it well above the previous bar, it was not by the pip but clearly it wasn't able to break the previous bar high like it would have had the up trend been intact.

Remember we're looking at PA signals to suggest a halt/reversal/pull back in a trend. The IPB is one, lack of bull pressure evident from the side by side bar highs (fromthe IPB and the bar before) is another.
Understood.

Thanks Ghous
  • #37,177
  • Jul 12, 2009 5:53am Jul 12, 2009 5:53am
Greetings all..

playing around with my "scratch/doodle" chart again....
eur$ daily (GTL Trading MT4: timezone is IBFX MT4 + 4)
Here's what i saw (correct analysis THANKS to jams16 method & thread; HUGE gray box got hit) :
before (Jun17) & after (July12) charts

[ yellow thick line & orange/goldenrod dotted line are (possible) Andrew's Pitchforks]

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: eu d1 jun17 follow-up jul12'09.gif Size: 26 KB
  • #37,178
  • Jul 12, 2009 6:19am Jul 12, 2009 6:19am
i had a previous wrong/premature analysis on jpy.
can't find the exact post. but i recently mentioned it here.

anyway, here's 1 of my $jpy doodle charts.
daily - monthly are bearish, but H4 formed a PB.
this could be a minor bounce back inside the Red downward channel @ 93.50 (confluence with minor ppz, small gray rectangle), or up to the recent minor PPZs at 93.50, 94, & 94.50 (dodger blue horizontal line; marked "x"). nearest major ppz is 91.00 (turquoise blue horizontal line), then 88.00..
the H4 PB formed with a (regular) bullish divergence (on CCI14). most likely RSI & MACD (& possibly Stochastics too) formed a similar bull divergence.

This is an OB. O7B to be exact (outside bar with a range higher than previous 6 bars). direct opposite of I3B or I4B mentioned here... (lol, im not sure if there is such a term as O7B. i just reversed the & based it on I4B definition)

will be checking more charts... so, i'm out for now
Attached Image (click to enlarge)
Click to Enlarge Name: $jpy h4 pb jul12'09.gif Size: 18 KB
  • #37,179
  • Jul 12, 2009 6:40am Jul 12, 2009 6:40am
Excellent lengthy posts from ghous recently.



Quote
After a hard weeks trading.......Life is good...
albchr,
is that u Chris?
Looks more like a Pro Trader than a Master Carpenter to me
Always remember Sir, "audacity with extreme caution".
Enjoy your green pips. I believe u earned them well!
  • #37,180
  • Jul 12, 2009 6:57am Jul 12, 2009 6:57am
Quoting supremeChaos
i had a previous wrong/premature analysis on jpy.
can't find the exact post. but i recently mentioned it here.

anyway, here's 1 of my $jpy doodle charts.
daily - monthly are bearish, but H4 formed a PB.
this could be a minor bounce back inside the Red downward channel @ 93.50 (confluence with minor ppz, small gray rectangle), or up to the recent minor PPZs at 93.50, 94, & 94.50 (dodger blue horizontal line; marked "x"). nearest major ppz is 91.00 (turquoise...
Covered my short trade Fri. Oversold bounce possibly coming. Here's what I see now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpy.gif Size: 16 KB
Click to Enlarge Name: jpy2.gif Size: 16 KB
Click to Enlarge Name: jpy3.gif Size: 14 KB
Never underestimate an idiot.
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