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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

  • #40,641
  • Aug 11, 2009 6:24pm Aug 11, 2009 6:24pm
Hi SuperDooperMatt

That bar is just a bullish bar. To be an BUOB, it needs ot completely engulf the extent of both upper and lower wicks.

Cheers!

Quoting supermatt
im keeping my eye on this E/A setup forming. Bullish engulfing or BUOB as you guys put it forming on daily. Seems to be forming of a pretty good support level. 6900 area
Will have to see

only has limited space up. perhaps good for 90 or so pips if it works out.

what do you guys think?
I'm pretty much done with all this ...
  • #40,642
  • Aug 11, 2009 6:29pm Aug 11, 2009 6:29pm
Quoting benji533
Basically all the "patterns" mean the same - That price is rejected.
If you combine DBHLC, DBLHC, BEOB, BUOB, they are all pin bars.
Hmmm.... That is an interesting way of looking at it. They do kind of make a pinish looking bar.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #40,643
  • Aug 11, 2009 7:42pm Aug 11, 2009 7:42pm
Quoting LasVahGoose
Hmmm.... That is an interesting way of looking at it. They do kind of make a pinish looking bar.
Man things are flat tonight. Nothing happening in Asia at all...

No clues about direction either - unless you are positioned off a TL.
I'm pretty much done with all this ...
  • #40,644
  • Aug 11, 2009 8:03pm Aug 11, 2009 8:03pm
Quoting StoragePro
Man things are flat tonight. Nothing happening in Asia at all...

No clues about direction either - unless you are positioned off a TL.
IBs on the 4 hour after big moves everywhere though. Check it out.
I dream, therefore I become.
  • #40,645
  • Aug 11, 2009 8:17pm Aug 11, 2009 8:17pm
Quoting StoragePro
Man things are flat tonight. Nothing happening in Asia at all...

No clues about direction either - unless you are positioned off a TL.
Big announcements tomorrow. BoE & FOMC & Fed Funds. A lot of RED on the FF calendar.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #40,646
  • Aug 11, 2009 8:20pm Aug 11, 2009 8:20pm
Quoting LasVahGoose
Big announcements tomorrow. BoE & FOMC & Fed Funds. A lot of RED on the FF calendar.
Yeah - an no one tipping their hand ... yet.
I'm pretty much done with all this ...
  • #40,647
  • Aug 11, 2009 8:36pm Aug 11, 2009 8:36pm
Quote
Yeah - an no one tipping their hand ... yet.

Yes, we wait wait wait...
Patience.. Patience.. Patience...
  • #40,648
  • Aug 11, 2009 9:06pm Aug 11, 2009 9:06pm
Quoting StoragePro
Hate it when this happens - but it is cleansing to share it...
I live for this setup. First time back to the 365 EMA. On a Round number. On a PPZ (minor). Nice size PB.....
See the Bar lows? I *knew* they'd come into play. They did. Twice. Second bar closed south of the round number - and momma did not raise a complete fool - I closed the trade.....
My golden setup. Turned to tin. Does not happen often. These usually bag some nice pips.......
along with the bar lows u've mentioned, price also reversed right on the descending trendline (red; emphasized by small Slate Gray box).
[blue rectangle shows the PPZ]
this setup just shows how powerful the (down) trend was. in fact, it's currently staying below the 365 ema.
'Twas not shameful,Sir. u did well, as expected.
Thanks for sharing!
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  • #40,649
  • Aug 11, 2009 9:08pm Aug 11, 2009 9:08pm
I'm in on this long. I see a decent divergence with a falling wedge. The 2 bar reversal looks nice, and I have a 145 pip window of opportunity before any trouble ppz can interfere. It is also sitting right on top of a monthly Resistance level at 2.1150

Let's see how it goes....GregB
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  • #40,650
  • Aug 11, 2009 9:11pm Aug 11, 2009 9:11pm
Quoting tradertt
By the way, just want to confirm a few things:
............
Types of confluence to look:
1) PPZs (if a line only have a swing high - Resistance - Is it considered as a PPZ?)
2) MACD Divergence
3) Fibs
.....
when looking for (regular & hidden) divergence, u are not confined to using MACD only. this thread often uses MACD, but u can also use other oscillators like Stochastics, RSI, CCI, etc.
it's a matter of personal taste/preference.
  • #40,651
  • Aug 11, 2009 9:19pm Aug 11, 2009 9:19pm
Quoting benji533
.....the idea of price action is to understand what price is basically telling us. It is talking to you, listen to it (lol). If you see a pin bar with a real long nose, that means price reached a certain level, and something rejected it really hard....

On the other hand, if you get a mini pin bar which is very small....ok so price was rejected a bit...but it doesn't really tells you anything.
yes, it's an issue of supply & demand.

in general, we like PB's with long noses.
but small PB's sometimes tell us something, so let's not underestimate all of them. in fact, sometimes a small PB snowballs into a great reversal trade (essentially a "pitbull bar" trade from a 'poodle/chihuahua' bar).
[i prefer to call them ''chihuahua'' bars since chihuahuas are generally small in size, unlike poodles which have certain breeds that are big in terms of size. ]
  • #40,652
  • Aug 11, 2009 9:24pm Aug 11, 2009 9:24pm
Hello,

I am still trying to understand where the best places are to trade outside bars. I know the best places are at swing highs and lows, at PPZs, etc.

BUT some of them open and close a below a PPZ, round number, say 1.7000. Open 1.6985, Close 1.6885. Some close directly on a PPZ. I've played pins that clearly reject off a round number and strong PPZ, but outside bars are a bit tricker to me.

Here's an example....

Thanks
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  • #40,653
  • Aug 11, 2009 9:29pm Aug 11, 2009 9:29pm
Quoting benji533
......ohh got it now.
I was familiar with the I4B....but the I10B was strange to me.
...
I10B? That's nothing!!!
Check out Sir jarroo's recent (June14'09) I46B!
  • #40,654
  • Aug 11, 2009 9:31pm Aug 11, 2009 9:31pm
Quoting batesmotel
I'm in on this long. I see a decent divergence with a falling wedge. The 2 bar reversal looks nice, and I have a 145 pip window of opportunity before any trouble ppz can interfere. It is also sitting right on top of a monthly Resistance level at 2.1150

Let's see how it goes....GregB
I was also looking at this one, but I wasn't around today at the daily close to check my charts. I just got to my computer and finished my analysis and saw it taking off past my planned entry point lol.

Here are my charts anyway. I was planning on moving my stops to BE around the 2.1285 area.

My only concern with this one was questioning if we are trading away from this ppz or are we in the middle of the ppz on weekly (3rd chart). I would have liked to see this 2 bar pin a bit higher up but I like that it is bouncing from 2.10 and the confluence.

See charts.

Scott
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  • #40,655
  • Aug 11, 2009 9:39pm Aug 11, 2009 9:39pm
Quoting batesmotel
I'm in on this long. I see a decent divergence with a falling wedge. The 2 bar reversal looks nice, and I have a 145 pip window of opportunity before any trouble ppz can interfere. It is also sitting right on top of a monthly Resistance level at 2.1150

Let's see how it goes....GregB
with you, mate..
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  • #40,656
  • Aug 11, 2009 9:39pm Aug 11, 2009 9:39pm
Quoting layton
Hello,
I am still trying to understand where the best places are to trade outside bars. I know the best places are at swing highs and lows, at PPZs, etc.
.....
Greetings layton,
u basically answered your Q via your second sentence.

also, are u referring to a "BEOB" on your chart? it actually is not. see supermatt & StoragePro's recent BUOB discussion above.
  • #40,657
  • Aug 11, 2009 9:57pm Aug 11, 2009 9:57pm
Quoting scott087

My only concern with this one was questioning if we are trading away from this ppz or are we in the middle of the ppz on weekly (3rd chart). I would have liked to see this 2 bar pin a bit higher up but I like that it is bouncing from 2.10 and the confluence.

Scott
Yes Scott, on the weekly chart we would have to at least wait for the close to make any decisions....but her daily tweezer bottoms were alluring me...mesmerizing me ...I couldn't help myself....I got weak at the knees...

GregB
  • #40,658
  • Aug 11, 2009 10:01pm Aug 11, 2009 10:01pm
Quoting hijackxx
with you, mate..
Let's hope for the best Hijack....GregB
  • #40,659
  • Aug 11, 2009 10:06pm Aug 11, 2009 10:06pm
Ah ok Thanks Mike for that.

I just went over to the guest area last night and download the videos and will be viewing them today. yeah kinda silly I waited till so long to start viewing it lolz when it comes from so many seniors or should I say 4

Quoting jarroo
Hang on there tradertt. The "Space" we look for may be explained by me, but its taught by and learned from MIKE (mbqb11).

All that I know and all the successsfull trades that I have had, would not exist if it wasn't for Mike and Jim (James16). Period. Exclamation Point.

Their posts and videos (free ones seen here in the guests section : http://www.james16group.us/ ) should be studied every day.

Have you seen the free videos, tradertt? If you have, how many times have you viewed them? twice, 5 times . . . I suggest at least...
  • #40,660
  • Aug 11, 2009 10:09pm Aug 11, 2009 10:09pm
Quoting faizal82
thanks for the reply mike.

ibfx does not contain much weekly price bar data for this pair, so maybe i should just not trade it in the future.

ps

do you think it is suitable to post stock trades in this forum but using j16 method -...
I can't speak for anyone else here but I'd like to see some stock charts posted here. As long as it follows the J16 method I think it would be beneficial and help people be more patient and picky.

I also think this will reinforce that this method works on any instrunment, any time frame.

Scott
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