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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

  • #47,201
  • Oct 29, 2009 3:46pm Oct 29, 2009 3:46pm
Quoting FX_Serg
Pretty handy when you have a paper due and don't have time as well
OH man I just cracked up so loud from that
  • #47,202
  • Oct 29, 2009 3:50pm Oct 29, 2009 3:50pm
Quoting benji533
Tahnks FX_Serg, that sounds good. But is their an option to try the indicator before paying?

I have searched for some PA alerts and it seems that none are good enough. I always get alerts about tiny dojis no matter how I try to twist the settings.
I actually have created a pinbar/engulfing bar EA but its not an alarm. It can be tweeked so that the bar is at least xATR big and the pins must have xATR long tail sticking out and must have a close x percent near the top of the bar etc. etc. I built it for backtesting only. (Until I figure out how to quantify s/r)
Would still be quite a bit of work to make it user friendly and turn it in to an alarm so let me know what they charge you from freelancer.
May all your fits be loose.
  • #47,203
  • Oct 29, 2009 4:05pm Oct 29, 2009 4:05pm
Quoting FX_Serg
Another one...daily pin forming at swing high on GBPCAD off 1.78 and 150ema. Looks like a good run until 1.75. Sorry for the mess, working chart

Don't forget Divergence, and 50% fibo line.

So we got, 50% retracement, touch of daily trendline that has been good since August 5, a daily pin bar, 150ema, divergence on the MACD and divergence on RSI(6)...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadconfluence.gif Size: 16 KB
Many choose unhappiness over uncertainty.
  • #47,204
  • Oct 29, 2009 4:15pm Oct 29, 2009 4:15pm
Quoting Dan Gilbert
Don't forget Divergence, and 50% fibo line.

So we got, 50% retracement, touch of daily trendline that has been good since August 5, a daily pin bar, 150ema, divergence on the MACD and divergence on RSI(6)...
Any seniors could comment on that please? The PB is not the biggest one but there's a good number of confluencing factors.
Thanks!
  • #47,205
  • Oct 29, 2009 4:16pm Oct 29, 2009 4:16pm
Quoting FX_Serg
Any seniors could comment on that please? The PB is not the biggest one but there's a good number of confluencing factors.
Thanks!
I'm hoping one of them will drop in here too lol....
Many choose unhappiness over uncertainty.
  • #47,206
  • Oct 29, 2009 4:17pm Oct 29, 2009 4:17pm
Quoting FX_Serg
Any seniors could comment on that please? The PB is not the biggest one but there's a good number of confluencing factors.
Thanks!
small bar for me to trade, but the first trouble area looks to be 1.7550 area. I have more of a bullish bias so I will be looking for a retrace(which could come from this bar most likely), and for some PA a bit near that trouble area

Best
Mike
  • #47,207
  • Oct 29, 2009 4:19pm Oct 29, 2009 4:19pm
Quoting mbqb11
OH man I just cracked up so loud from that
Seriously, the best freelancer resource I've found so far. Had a paper written for my wife's architecture class in 12 hours. 10 pages, subject: colliseum. Pure research and compilation. The paper was authentic and she got A+ for it. She didn't have time and asked me to do it but I'd rather spend $90 and save my time for something else .
  • #47,208
  • Oct 29, 2009 4:26pm Oct 29, 2009 4:26pm
Quoting datogio
first trade closed with +50 pips and heres the reentry at the same price, pb break this time

Dropping down to lowwwwer time frames are you, datogio. Becareful and nimble my friend. Nice trade.
Indicators show the past. Price Action "Indicates" the future.
  • #47,209
  • Oct 29, 2009 4:30pm Oct 29, 2009 4:30pm
Quoting FX_Serg
Any seniors could comment on that please? The PB is not the biggest one but there's a good number of confluencing factors.
Thanks!
Thats the first thing that sprang to mind...pin bar doesnt stand out in terms of size...but look at other pin bars that have worked on this pair...all seem quite similar size
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  • #47,210
  • Oct 29, 2009 4:38pm Oct 29, 2009 4:38pm
GBPJPY stalled at a nice area. There is daily BUOB and a nice trendline from 2008! My opinion, it got the potential to run to 155. IF everything goes according to plan
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  • #47,211
  • Oct 29, 2009 4:39pm Oct 29, 2009 4:39pm
i cant help but notice the signs of bullish div on the monthly on the gcad. shorting makes me a tad nervous, but i can all see your point about it being at a good location and several confluences. it doesnt look like the worst setup you could take thats for sure
  • #47,212
  • Oct 29, 2009 4:40pm Oct 29, 2009 4:40pm
beob forming on daily usd/chf.

what do you think?
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meine augen sind die sterne
  • #47,213
  • Oct 29, 2009 4:42pm Oct 29, 2009 4:42pm
Here is another 2 day pinbar. Some confluence but a very noisy area.
I think the size is ok and we have 61.8 fib and some divergence. Swing high and with the trend.
I'm concerned with that first trouble area where the pb migh be triggered.
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  • #47,214
  • Oct 29, 2009 4:45pm Oct 29, 2009 4:45pm
Quoting jarroo
Dropping down to lowwwwer time frames are you, datogio. Becareful and nimble my friend. Nice trade.
great signature you have bro
  • #47,215
  • Oct 29, 2009 4:56pm Oct 29, 2009 4:56pm
Quoting cannarek
great signature you have bro

Had that one for awhile. Bemac touched it up for me.
Indicators show the past. Price Action "Indicates" the future.
  • #47,216
  • Oct 29, 2009 5:02pm Oct 29, 2009 5:02pm
Quoting jarroo
Had that one for awhile. Bemac touched it up for me.
I was many time thinking how to name it. and this is it I am with you all my hands,legs and mind
  • #47,217
  • Oct 29, 2009 5:11pm Oct 29, 2009 5:11pm
I think I found something. Two day pin. I think it's safe to call it that, since will close in less than an hour. No divergence though...
Attached Image (click to enlarge)
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  • #47,218
  • Oct 29, 2009 5:19pm Oct 29, 2009 5:19pm
Quoting bee24
I think I found something. Two day pin. I think it's safe to call it that, since will close in less than an hour. No divergence though...
Bee, my friend, you don't have to look for anything. At least all the obvious PBs, BEOBs, and BUOBs are here, on this thread, by 6pm EST . You only have to read the thread. Just a friendly advice
  • #47,219
  • Oct 29, 2009 5:19pm Oct 29, 2009 5:19pm
Quoting cannarek
I was many time thinking how to name it. and this is it I am with you all my hands,legs and mind

I may have to update it now because I do like Josh's take of "Price Re-Action".

Quoting Jduester
I think I have the definition of PA, Price Action wrong. I've always thought of price action as the charts formed from price movements. I've always thought that included much more than bar/candle patterns. Thought it included how price 're'-acts(ion) to previous highs/lows, round numbers, trendlines and some retracements.

Price Action or Price Reaction to certain points on a chart...

Josh
Indicators show the past. Price Action "Indicates" the future.
  • #47,220
  • Oct 29, 2009 5:24pm Oct 29, 2009 5:24pm
Quoting FX_Serg
Bee, my friend, you don't have to look for anything. At least all the obvious PBs, BEOBs, and BUOBs are here, on this thread, by 6pm EST . You only have to read the thread. Just a friendly advice
True, but learning does benefit from doing the work yourself huh.
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