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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

  • #37,281
  • Edited 11:34pm Jul 13, 2009 10:24pm | Edited 11:34pm
Quote
It's close a bigger bar and I would have traded it for a (quick profit), due to the lack of space...
joebryce,
fairly similar idea with Sir Mike here.
I have posted about this last night & i had my remaining demo short stopped at BE + 10-25+ pips a few hours after that post.

i/we may have chances to re-short this at +/- 0.7700 (although it seems to me price may have a hard time at 0.7630 - 0.7660 area if it ever wants to go to 0.77). overall, i will monitor if price is still bearish or if it has reversed its current bias.
  • #37,282
  • Jul 13, 2009 10:31pm Jul 13, 2009 10:31pm
send em on.

i wont be home for a week but you should be near the front of the line if you send them now.

jim

Quoting scott087
Jim,

I've been looking back and reviewing my trades since I went live, and I'd be happy to send them to you. The reason I'm doing this is to see what I could have done differently and refine the trades. Even after demoing, I still feel like I can benefit from reviewing my trades.

-Scott
  • #37,283
  • Jul 13, 2009 10:53pm Jul 13, 2009 10:53pm
Just what we wanted. A quick hard break during the first few hours of the day.



Ghous.
Attached Image
I believe . . .
  • #37,284
  • Edited 11:04pm Jul 13, 2009 10:54pm | Edited 11:04pm
Quoting james16
send em on.

i wont be home for a week but you should be near the front of the line if you send them now.

jim
hey Jim,

How's it going up top?

Found any bears to share your beer with?
I believe . . .
  • #37,285
  • Jul 13, 2009 10:59pm Jul 13, 2009 10:59pm
Quoting ghous
Just what we wanted. A quick hard break during the first few hours of the day.



Ghous.
Ghous,

I'm in on this one too. I'm moving my stops to BE around 1.7770.

Scott
  • #37,286
  • Edited 11:17pm Jul 13, 2009 11:06pm | Edited 11:17pm
Quoting datogio
hi traders, wish you all profitable week.

nzd/usd w2 beob is catching my eye think it has a potential to be one of the monsters I'm hunting.

going to take this trade with tight stops, and monitor the momentum of the break.

EDIT: hope nobody's going to take it as a trading advise, I'm just thinking loudly

Looks good datogio. We would like to see that BEOB a bit bigger and at the peak or highest point of the swing High. (Like the one in the green box at the check mark).

A little traffic at the 38.2 and PPZ level. May want to use that as your quick to break even point. (refer: James16 - "This is Critical")

Looks like it broke by 1 pip. On the higher time frames (2 Weekly), we have to give a bigger "buffer" to show a convincing break.

Good eye, datogio.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #37,287
  • Jul 13, 2009 11:23pm Jul 13, 2009 11:23pm
jarroo,
finally, the climate czar is back.
I saved Punky's posts for u to reply. I believe u are on a much better ground to answer his query.

Punky's posts are here, here & here. (question about about IB breaks)

Thanks
  • #37,288
  • Edited 11:42pm Jul 13, 2009 11:24pm | Edited 11:42pm
Quoting ghous
Just what we wanted. A quick hard break during the first few hours of the day.

Ghous.
It does look like a good pin - just touched the 23.6 retracement of the big downtrend and then broke back quickly.

I missed the initial entry, but will look to get on board at a break below 1.7775, which seem to have acted as support recently. Stops to breakeven fast - and if we can break 1.7700, which is a big PPZ and a round number, it looks like it could go back to freefall mode.

edit: charts! (ignore the orange fibs, they are from an old analysis)
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When you have to shoot, shoot. Dont talk.
  • #37,289
  • Jul 13, 2009 11:39pm Jul 13, 2009 11:39pm
no bears yet but im patient.

couple of them wont drink with me anymore.

they keep getting in trouble when they get home.

ive also started putting beer in the hummingbird feeder looking for new mountain friends.

they love it and are much less nasty when they have had too much.







Quoting ghous
hey Jim,

How's it going up top?

Found any bears to share your beer with?
  • #37,290
  • Jul 13, 2009 11:46pm Jul 13, 2009 11:46pm
Quoting james16
no bears yet but im patient.

couple of them wont drink with me anymore.

they keep getting in trouble when they get home.

ive also started putting beer in the hummingbird feeder looking for new mountain friends.

they love it and are much less nasty when they have had too much.

Right so we'll have those little things doze off in the middle of their flights.

Watch out Jim, it's raining humming birds!
I believe . . .
  • #37,291
  • Jul 13, 2009 11:50pm Jul 13, 2009 11:50pm
Blimey! Is that the time.

Honestly the Gym instructor's gonna throw me out this time...
I believe . . .
  • #37,292
  • Jul 13, 2009 11:51pm Jul 13, 2009 11:51pm
actually its rather strange.

first thing to go is there abilty to fly backwards.

im still observing to see what happens next.

i better stop it or im going to need an animal rights czar.

anyone up for that cabinet position?

seriously though if one of my beer drinking hummingbird friends has had too much i do not allow him/her to fly home.

im always a good host.

jim





Quoting ghous
Right so we'll have those little things doze off in the middle of their flights.

Watch out Jim, it's raining humming birds!
  • #37,293
  • Jul 13, 2009 11:51pm Jul 13, 2009 11:51pm
Since I have posted here,

Quoting supremeChaos
jarroo,
finally, the climate czar is back.
I saved Punky's posts for u to reply. I believe u are on a much better ground to answer his query.

Punky's posts are here, here & here. (question about about IB breaks)

Thanks
I'll bite for this one if I may,

@Punky -

See Chart One - First Candle is an inside bar (Blue one), then on the next one (Yellow one) it breaks the low of the inside bar so it is triggered ("Triggered" depending on how you play it)

What you are possibly confusing it with is this -

See Picture Two - "Master Candle" (Not J16 stuff) where theres a series of inside bars in the "shadow" of a big candle, it is activated when the master candle itself is broken.

Quote
I have read that the definition of a IB break is when the bar after the IB breaks both the IB and the previous bar

Possibly confusing it with something else like the Master candle or something, its the break of the IB itself, the previous bar before the IB (If you get me) does not count.

Best Regards,
Jig
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  • #37,294
  • Jul 13, 2009 11:58pm Jul 13, 2009 11:58pm
Quoting ghous
Blimey! Is that the time.

Honestly the Gym instructor's gonna throw me out this time...:worried:
Ghous going down to the Gym to Squat 350lbs ass to the frickin' ground for a clean set of ten.

  • #37,295
  • Jul 14, 2009 12:13am Jul 14, 2009 12:13am
Quoting Jigsaw
Ghous going down to the Gym to Squat 350lbs ass to the frickin' ground for a clean set of ten.

cos at globo gym we're better than you and we know it!
Grabbing the bull by the horns!
  • #37,296
  • Jul 14, 2009 12:24am Jul 14, 2009 12:24am
Quoting Punky
Cheers Bud!
Lets see if I can explain this with another chart.....number 2.

Don't laugh at my numbers.
Number 2 is the inside bar.
I could be mistaken but I have read that for a break of the IB to occur, bar 3 MUST break bars 1 and 2.
Since that never happened. Bar 4 has now broke bars 1 and 2.
Can we consider this the break?

Pictures are so much easier.
(Thanks sChaos. )

Hey Punky, nice 1st post.

Inside Bars can be traded in many different ways. Breaking the previous Bar Low (Bar 1) is certainly one way to trade them as a confirmation of the IB setup.

As a Price Action setup as discussed in the thread, they can be traded just like any other qualified PA setup, i.e. Pin Bars, BEOB, BUOB, DBHLC, etc.

So we look for areas of high confluence (Location) and wait for a bar confirmation to give us a hint of where Price may be heading.

The Weekly Gbp/Chf IB has some good confluences. 50% retrace, off a big Round Number 1.8000 and its at a swing High.

Next we have to look what we are trading into, which are the previous High/Lows, PPZs, S/R levels, etc., or in other words the "Traffic" that may cause difficulty in allowing Price to move in our direction. Refer to James16's "This is Critical" :
http://www.forexfactory.com/showpost...ostcount=33962

The 1.7500 big Round Number, at a Monthly/Weekly PPZ is a strong level of confluence that we are heading into from our IB.

So we have to take a common sense approach into the many factors when trading a setup that is not just Inside Bar, but any PA formation that presents itself at a preceived great location.
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Indicators show the past. Price Action "Indicates" the future.
  • #37,297
  • Jul 14, 2009 12:25am Jul 14, 2009 12:25am
Quoting Jigsaw
Since I have posted here,



I'll bite for this one if I may,

@Punky -

See Chart One - First Candle is an inside bar (Blue one), then on the next one (Yellow one) it breaks the low of the inside bar so it is triggered ("Triggered" depending on how you play it)

What you are possibly confusing it with is this -

See Picture Two - "Master Candle" (Not J16 stuff) where theres a series of inside bars in the "shadow" of a big candle, it is activated when the master candle itself is broken.



Possibly confusing...
Hey Jig,

Thanks for sharing the Master Candle stuff with us! Eventhough it's not J16 stuff, it does not mean that we cannot learn something from it. We can always slice & dice and incorporate it into our trading framework. For example, if this Master Candle break occurs at a strong PPZ with space, it could be tradeable http://www.forexfactory.com/images/icons/icon12.gif
  • #37,298
  • Jul 14, 2009 12:59am Jul 14, 2009 12:59am
Quoting markf45
Anybody still in this BUOVB? Took it and got out at 72.44. Not really an A trade IMO but still had some good confluence and divergence, and it's a double bottom.
Nice Mark.

Same with the Gbp/Jpy, 4 Hour BUOB. Nice retest of the break and then of the 150.00. (as shown on the hourly).

These always happen when I'm not around. lol
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #37,299
  • Jul 14, 2009 1:48am Jul 14, 2009 1:48am
Quoting jarroo
Nice Mark.

Same with the Gbp/Jpy, 4 Hour BUOB. Nice retest of the break and then of the 150.00. (as shown on the hourly).

These always happen when I'm not around. lol
me too..
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #37,300
  • Jul 14, 2009 2:23am Jul 14, 2009 2:23am
Quoting Jigsaw
Ghous going down to the Gym to Squat 350lbs ass to the frickin' ground for a clean set of ten.

Hye Jig, long time bro.

I know all that heavy stuff of yours. jeez I am just a beginner and it's precisely because of this that the instructor comes hard on me lol. Just back with a warning of being thrown out of the window next time I get 30 min late...

...nothing too bad abt it except the fact that it's the freaking 4th floor window above a busy main road. lol!

But it's fun actually, only been a week or so of workouts and despite some umm 1...5...that's 10....18, yeah 18 different muscles aching all over the body I liked it.

It's important for a person like me who doesn't really play a lot of sports or other stuff which would shed some sweat.

On a side note....Post more Jig

Ghous.
I believe . . .
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