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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

  • #52,021
  • Jan 19, 2010 6:49pm Jan 19, 2010 6:49pm
Quoting Dan Gilbert
Ok Jarroo, I read a post from the past in this thread (searched it). would this be the correct way to number the inside bars? Each consecutive bar here is smaller than the last, or is the #3 and #4 bars the only ones I should be looking at for a break?
You'd be looking for a break on the 4th and only IB in that setup. These types of setups, IMO, are only relevant on the 4 hour timeframes and above. There are way too many on the 1 hour charts unless, of course, they are popping at the outer edges of a wedge, triangle, DIBS type trades, etc.

For an I4B setup, you are looking for an IB with a smaller range than the past 3 bars before it. (The IB is counted in the setup, thus the name I4B)
These can be played in many different ways.

PS, I'm not Jarroo?!
I dream, therefore I become.
  • #52,022
  • Jan 19, 2010 6:54pm Jan 19, 2010 6:54pm
Quoting mike w
You'd be looking for a break on the 4th and only IB in that setup. These types of setups, IMO, are only relevant on the 4 hour timeframes and above. There are way too many on the 1 hour charts unless, of course, they are popping at the outer edges of a wedge, triangle, DIBS type trades, etc.

For an I4B setup, you are looking for an IB with a smaller range than the past 3 bars before it. (The IB is counted in the setup, thus the name I4B)
These can be played in many different ways.

PS, I'm not Jarroo?!

And what Mike W said. Good stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #52,023
  • Jan 19, 2010 6:57pm Jan 19, 2010 6:57pm
Quoting jarroo
Looks great. Break would be above the 1.9500, nice.

One big concern is the size is pretty small, but not bad. A hard break and tight stop under the 1.9500 would be how I'd play it.
Thank you for the feedback.
  • #52,024
  • Jan 19, 2010 7:02pm Jan 19, 2010 7:02pm
Quoting mike w
Believe me my man, I know! I let a bias get in the way of a good trade, there's not much more to it than that - me being a bum! lol I saw the solid resistance and let that get in my head for a short opportunity. I see now that we have a bearish pin bar on the G/U daily, but being right in my thoughts doesn't equate to being in the black in my trades.

On another note, we couldn't have asked for a better setup on the usd/chf.

BTW, I've seen quite a bit of poetry in your posts too brother! We should write a book and title it "J&M's quirky trading...
It would be a best seller. lol
Indicators show the past. Price Action "Indicates" the future.
  • #52,025
  • Jan 19, 2010 7:07pm Jan 19, 2010 7:07pm
Quoting jarroo
Yes, the I4B is one of J16's PA formations. I looks like that it could be an I7B if you go back even more bars. They could break either way.

Dale's Double Inside Bar is also in play here (in blue). Check some his posts on these. They can provide some great moves.
Quoting Mike_W
You'd be looking for a break on the 4th and only IB in that setup. These types of setups, IMO, are only relevant on the 4 hour timeframes and above. There are way too many on the 1 hour charts unless, of course, they are popping at the outer edges of a wedge, triangle, DIBS type trades, etc.

For an I4B setup, you are looking for an IB with a smaller range than the past 3 bars before it. (The IB is counted in the setup, thus the name I4B)
These can be played in many different ways.

PS, I'm not Jarroo?!

so this one from last night is a "i4b" which I would play on the break of the 4th (the smallest) bar?
Attached Image
Many choose unhappiness over uncertainty.
  • #52,026
  • Jan 19, 2010 7:10pm Jan 19, 2010 7:10pm
Quoting jarroo
I wouldn't rate it as an A+ but it does have good potential.

The location is definitely in its favor as opposed to the lack of size and structure of the PB. Also being on top of the weekly range with the 150 weekly ema I would consider added confluences.

This ranging weekly market could continue. A hard break would keep me in it.
Just an update on this small PB on the Cad/Chf. Waiting for the break saves the day again. ("And it always will. James16")
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dailycadchf1.gif Size: 31 KB
Click to Enlarge Name: dailycadchf2.gif Size: 31 KB
Indicators show the past. Price Action "Indicates" the future.
  • #52,027
  • Jan 19, 2010 7:15pm Jan 19, 2010 7:15pm
Quoting Dan Gilbert
so this one from last night is a "i4b" which I would play on the break of the 4th (the smallest) bar?
Yes that's correct. Stop loss just above the high of the I4B.
Indicators show the past. Price Action "Indicates" the future.
  • #52,028
  • Jan 19, 2010 7:20pm Jan 19, 2010 7:20pm
Quoting jarroo
Yes, the I4B is one of J16's PA formations. It looks like that it could be an I7B if you go back even more bars. They could break either way.

Dale's Double Inside Bar is also in play here (in blue). Check some his posts on these. They can provide some great moves.
There we go baby . . . . hard break bitiach. lol
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #52,029
  • Jan 19, 2010 7:22pm Jan 19, 2010 7:22pm
What just happened, everything's jumping around (nicely I might add)
Learning to be rigid in my rules & flexible in my expectations
  • #52,030
  • Jan 19, 2010 7:26pm Jan 19, 2010 7:26pm
Quoting jarroo
There we go baby . . . . hard break bitiach. lol
I got it on the demo
Many choose unhappiness over uncertainty.
  • #52,031
  • Jan 19, 2010 7:27pm Jan 19, 2010 7:27pm
Quoting jarroo
Yes that's correct. Stop loss just above the high of the I4B.
did u mean S/L just below the low of the I4B...?
Many choose unhappiness over uncertainty.
  • #52,032
  • Jan 19, 2010 7:32pm Jan 19, 2010 7:32pm
Quoting jarroo
There we go baby . . . . hard break bitiach. lol
Ooops . . .his isn't technically a Dale's Double Inside bar, my bad. But is a James16 I4B (I7B). A break of the Daily PB (blue) would be great confirmation.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #52,033
  • Jan 19, 2010 7:32pm Jan 19, 2010 7:32pm
Quoting PippingMama
Anyone look at the USDJPY, BUOB bar?
Hey PM... I like this BUOB for a few reasons...

 

  1. 90.00 rejection

  1. 38.2 fib retracement

  1. Swing low


However, there is some traffic I'm concerned about in the 92.00 area and this trade would be against the primary trend (although intermediate is range-bound). The area is very tempting though...

Just my thoughts.

-- Danny

Attached Image
  • #52,034
  • Jan 19, 2010 7:36pm Jan 19, 2010 7:36pm
Quoting jarroo
Ooops . . .his isn't technically a Dale's Double Inside bar, my bad. But is a James16 I4B (I7B). A break of the Daily PB (blue) would be great confirmation.
right, not a double.... it was on the verge of becoming one though
Many choose unhappiness over uncertainty.
  • #52,035
  • Jan 19, 2010 7:36pm Jan 19, 2010 7:36pm
Quoting Dan Gilbert
did u mean S/L just below the low of the I4B...?
Since Price broke the bottom of the I4B (red) the stop loss would be just above the high of the I4B (blue).
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #52,036
  • Jan 19, 2010 7:39pm Jan 19, 2010 7:39pm
Quoting Dan Gilbert
so this one from last night is a "i4b" which I would play on the break of the 4th (the smallest) bar?
Yes sir, I actually noted that one here on the forum last night. I think it's definitely tradeworthy.
I dream, therefore I become.
  • #52,037
  • Jan 19, 2010 7:40pm Jan 19, 2010 7:40pm
Quoting jarroo
Since Price broke the bottom of the I4B (red) the stop loss would be just above the high of the I4B (blue).

Sorry Dan my bad . I was looking at the current I4B.

Yes, you are correct with your stop loss placement from last night.
Indicators show the past. Price Action "Indicates" the future.
  • #52,038
  • Jan 19, 2010 7:40pm Jan 19, 2010 7:40pm
Quoting bluetrader
Hey PM... I like this BUOB for a few reasons...

 

  1. 90.00 rejection

  1. 38.2 fib retracement

  1. Swing low


However, there is some traffic I'm concerned about in the 92.00 area and this trade would be against the primary trend (although intermediate is range-bound). The area is very tempting though...

Just my thoughts.

-- Danny

I see that one too.... I like it.... good PPZ and strong BUOB, i'm watching USDJPY right now pretty closely
Many choose unhappiness over uncertainty.
  • #52,039
  • Jan 19, 2010 7:41pm Jan 19, 2010 7:41pm
Quoting jarroo
Since Price broke the bottom of the I4B (red) the stop loss would be just above the high of the I4B (blue).
I set my stop at 1.6386, I must be learning something if you were planning the same.
Learning to be rigid in my rules & flexible in my expectations
  • #52,040
  • Jan 19, 2010 7:48pm Jan 19, 2010 7:48pm
Quoting ghous
Not sure what to feel, lol
I am happy to be "moving on" and unhappy to wave my teens good bye.
what the heck are u talking about?!?
u are now in your 20's...
so welcome to the twen-Teens group
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