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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

  • #41,901
  • Aug 24, 2009 8:41am Aug 24, 2009 8:41am
EURCHF 1hr/4hr

Pair of tweezers forming...
The winner of the rat race is still a rat.
  • #41,902
  • Aug 24, 2009 8:50am Aug 24, 2009 8:50am
I found all I need except
BEBs(bearish Bars)
BuB(Bullish Bars)

Could you show me how these two look like?
  • #41,903
  • Aug 24, 2009 8:51am Aug 24, 2009 8:51am
Quoting Trader100
That helps a lot but I don't know how many of those look like


g_j_hook@yah mentioned the PA pdf lately here
  • #41,904
  • Aug 24, 2009 8:53am Aug 24, 2009 8:53am
Quoting Trader100
I found all I need except
BEBs(bearish Bars)
BuB(Bullish Bars)

Could you show me how these two look like?
Here ya go, no one I know actually trades off these , but simply uses them for more information
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  • #41,905
  • Aug 24, 2009 8:55am Aug 24, 2009 8:55am
Quoting Trader100
Hi. I want to know how many different price action figures there are?
I know that there are Double bar low with a higher close and other basic figures.
If anyone of you have time could you please tell me what kind of a figures u know? Thanks.
This is PinBar. Tough and hard hitting.
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I'm pretty much done with all this ...
  • #41,906
  • Aug 24, 2009 8:56am Aug 24, 2009 8:56am
Quoting mbqb11
Here ya go, no one I know actually trades off these , but simply uses them for more information
Yes.

You want lot's of these to define a "strong" up trend,

Wonder if they can ever be of any trading value Mike? ...
I believe . . .
  • #41,907
  • Aug 24, 2009 8:57am Aug 24, 2009 8:57am
Quoting mbqb11
Here ya go, no one I know actually trades off these , but simply uses them for more information
You have been very helpful.
Thanks
  • #41,908
  • Aug 24, 2009 8:58am Aug 24, 2009 8:58am
Quoting ghous
Yes.

You want lot's of these to define a "strong" up trend,

Wonder if they can ever be of any trading value Mike? ...
I will use them as information for a trade I am currently in. A strong BUB, BEB generally means (as per James) we should see at least a test of that bars high. Good place to watch and see how things develop. It's all little information to make up the book were reading

Mike
  • #41,909
  • Aug 24, 2009 8:58am Aug 24, 2009 8:58am
Wondering if any of you took this. I did and and it is working out nice sitting at about 1:1 already. The way I looked at it was 1.75 was a huge huge level if you zoomed out. the overall trend was down. It broke past 1.75 pulled back and pinned (kind of small) below that level. The pin was at 61.8 Fib. Once again what I think helpe dthis trade was trading toward the least point of resistance and 1.75 was HEAVY! Let's see how it plays out.

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  • #41,910
  • Aug 24, 2009 9:01am Aug 24, 2009 9:01am
Quoting mbqb11
I will use them as information for a trade I am currently in. A strong BUB, BEB generally means (as per James) we should see at least a test of that bars high. Good place to watch and see how things develop. It's all little information to make up the book were reading

Mike
I should really line that up to dig into after cracking open the IB nut,

Thnx Bro,
I believe . . .
  • #41,911
  • Aug 24, 2009 9:02am Aug 24, 2009 9:02am
Quoting StoragePro
This is PinBar. Tough and hard hitting.
I thought that was a PIN BAR.

And no one told me not even you (GHOUS).
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  • #41,912
  • Aug 24, 2009 9:04am Aug 24, 2009 9:04am
Hi Cyrus,

I am glad to see a post on this one, cause I was looking at it as well.

Eventually I didn't take it, most of the reasons you and mike already gave:

1. Relatively small bar next to a sharp move, to quote mike "it's like trying to catch a falling knife", because except from the PPZ at that area, I didn't find any other supporting confluence factors.
2. Late in Friday.

3. Here is what I would like to add to the already given reasons: No supproting round number.
Here is a post I wrote last week about: round numbers.
After reading a bit info about this subject, and backtesting my charts for a while on weekend, I got to the conclusion it may be a good idea try taking trades on the lower TFs (1H-4H, I do not trade lower than that), only off round numbers. The bar of the lower time frames just do not contain data like daily and weekly bars. You can not count on 1H PA bar like on a daily PA bar, that's my opinion at least. That is simply because you are effected by many "noise" factors. Many times you can see very nice shaped pin bars at the 1H and 4H but they do not work. IMO it is because there is nothing that really supports them, and alone they are never strong enough sign, especially at lower TFs where the data is very small.
For example a 1H pin bar can be created by the price hitting many SL or TP orders, but that doesn't mean fresh sellers or buyers are coming in to support the move. On the other hand, on daily you will never see a pin that was created from that, cause the data is much larger.

Now, why round numbers? Many intraday traders place their orders around these areas, and that is why momentum and order flow is built there. If you trade a 1H PA setup off them, you have something supporting you. This is my theory after thinking, but not necessary true. I am keeping checking this, and I am considering making a log of these on demo to see what will be the results.

Another thing...I would like to ask here the seniors or whoever know the answer - does bigger round numbers mean bigger order flow? I guess yes. but it will be nice to get a confirmation.

Sorry for the ramble lol, but wanted to explain the idea deeper and open it do discussion. Bottom line is, that pin bar was on a lower TF and not off a round number. That alone avoided me to take the trade + the other factors.

Hope it helps the think process?


Good luck!

Ben
  • #41,913
  • Aug 24, 2009 9:04am Aug 24, 2009 9:04am
Quoting LittleLuca
EURCHF 1hr/4hr

Pair of tweezers forming...

i like the nice sized pin but not the location, it has 1hr to close....
if it were to end as beob below my ppz, i just might consider
i like the fact that its with the trend
would like to also hear from others
cheers
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Simplicity is the key to success
  • #41,914
  • Aug 24, 2009 9:05am Aug 24, 2009 9:05am
Quoting dmc
Wondering if any of you took this. I did and and it is working out nice sitting at about 1:1 already. The way I looked at it was 1.75 was a huge huge level if you zoomed out. the overall trend was down. It broke past 1.75 pulled back and pinned (kind of small) below that level. The pin was at 61.8 Fib. Once again what I think helpe dthis trade was trading toward the least point of resistance and 1.75 was HEAVY! Let's see how it plays out.

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Very nice DMC,

Nothing "Pitbullish" about the pin bar but nothing was "poodlish" abt the location,

Absolutely nailed!

g
I believe . . .
  • #41,915
  • Aug 24, 2009 9:08am Aug 24, 2009 9:08am
Thanks ghous now I just have to decide on trade mangement, I have been getting comfortable with 2 bar stop just takes all emotion out.


Quoting ghous
Very nice DMC,

Nothing "Pitbullish" about the pin bar but nothing was "poodlish" abt the location,

Absolutely nailed!

g
  • #41,916
  • Aug 24, 2009 9:15am Aug 24, 2009 9:15am
Quoting nasir.khan
I thought that was a PIN BAR.

And no one told me not even you (GHOUS).
Sorry for keeping you in the dark Nasir,

Now that Sto has let the dog out finally,

Here's a BEOB:

()
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I believe . . .
  • #41,917
  • Edited 9:50am Aug 24, 2009 9:18am | Edited 9:50am
of course you might see things different, and you are welcome to.

EURJPY - 4Hr (8AM EST Open) BEOB.

I love a great OB, but this is one of those I pass on.

Not a swing high, not dramatically larger than the preceding bars, trading right into a PPZ/135.00. These kinds of trades make it hard to do anything but watch it, so standing down. Just a stress burger for me.

Sometimes these work out well, but zooming out, we are in the middle of a range and in a tricky area.

Sooo... waiting until we get to the outside portions of the range...
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I'm pretty much done with all this ...
  • #41,918
  • Aug 24, 2009 9:25am Aug 24, 2009 9:25am
Quoting ghous
Sorry for keeping you in the dark Nasir,

Now that Sto has let the dog out finally,

Here's a BEOB:

()
Yeah now come slowly first let me figure out the PIN BAR now.

Btw BEOB have two B**BS within with a nice head and shoulder.

I am picking this fast huhh.
  • #41,919
  • Aug 24, 2009 9:43am Aug 24, 2009 9:43am
Quoting StoragePro
of course you might see things different, and you are welcome to.

EURJPY - 4Hr (8AM EST Open) BEOB.

I love a great OB, but this is one of those I pass on.

Not a swing high, not dramatically larger than the preceding bars, trading right into a PPZ/130.00. These kinds of trades make it hard to do anything but watch it, so standing down. Just a stress burger for me.

Sometimes these work out well, but zooming out, we are in the middle of a range and in a tricky area.

Sooo... waiting until we get to the outside portions of the range...
hey sto,
dont u mean 135, am i right???
Simplicity is the key to success
  • #41,920
  • Aug 24, 2009 9:44am Aug 24, 2009 9:44am
Got long on EUR/USD cause inside bar was broken on H1 and price found support on 21 EMA.
Was this trade ok?
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