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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

  • #53,781
  • Feb 3, 2010 5:16am Feb 3, 2010 5:16am
Quoting nasir.khan
Closed the Long from BUOB.

Now lets see how this bar closes.
Damn you want to skin that cat down to the last hair Doncha?!
I believe . . .
  • #53,782
  • Feb 3, 2010 5:35am Feb 3, 2010 5:35am
Quoting lovejoy80
Missed the GU trade (outside bar of a PPZ area), but taken a UJ long - pin bar off a TL & PPZ in an uptrend on 4H
Gu was never a trade for me, and there are quite a few reasons for it.

Firstly the beob formed above the round number when it should really have been on it or just below it.

Secondly look at the close, a more authoritative close near the low of the beob would have been better...that close high above in my eyes takes away quite a bit of its strength.

Thirdly, a break of 1.6 wasn't the only worry IMHO. The bar highs just below it might also have been of some worry to me at least.

Fourthly, I see the 61.8 fib and the ppz on it a better location for a similar setup in which case the sniper could be comfortably aimed at the 1.6 round number with enough profit to be locked before we saw a major hurdle.

------

Above is my thought process as was before the result of the setup so...yeah the trade did work out but in my book this was clearly not a trade at all or at best a C- trade...

Just thought I'd drop in with my 2 cents...

g.
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I believe . . .
  • #53,783
  • Feb 3, 2010 5:54am Feb 3, 2010 5:54am
Quoting ghous
Gu was never a trade for me, and there are quite a few reasons for it.

Firstly the beob formed above the round number when it should really have been on it or just below it.

Secondly look at the close, a more authoritative close near the low of the beob would have been better...that close high above in my eyes takes away quite a bit of its strength.

Thirdly, a break of 1.6 wasn't the only worry IMHO. The bar highs just below it might also have been of some worry to me at least.

Fourthly, I see the 61.8 fib and the ppz on...
Always good to share opinions on setups...

My analysis would have been different.

1. A PPZ area @ 1.6064
2. A BEOB formed of this PPZ - within this hour price touched and rose slightly above the PPZ and was strongly rejected. The close of the bar was below the low of the previous bar which IMO makes it a decent BEOB
3. PPZ is also 50% of the recent swing on 1H chart - IMO 50% is more important than 61.8% fib.
4. Hidden divergence

- 1.6000 - although a round number, this is not a strong PPZ area. Inot all round numbers hold as PPZ areas. Iwould be looking for 1.5920 PPZ area as a first target.

I agree that 1.6100 PPZ area would have been another good area, but we have to trade what the market gives us...it hit a PPZ and 50% fib plus hidden divergence and formed a nice BEOB...


Why should the BEOB have been formed on or around the round number - the round number is not a strong PPZ area like where the BEOB actually formed. The BEOB formed at a PPZ area, price touched it and was strongly rejected and continued strongly down to form a BEOB with a close below the low of the previous bar - this is a strong indication IMO that price will continue down in the next hour etc.

I dont classify trades as A,B,C etc. they are wither tradable setups or not in my eyes.

Each to their own
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  • #53,784
  • Feb 3, 2010 5:58am Feb 3, 2010 5:58am
Quoting Dan Gilbert
very excited....
hey Dan be careful to not miss some chart

FXPro is great, i previously used IBFX and then i saw someone (i think it was KissFan) on this thread using FXPro. Now i combine it with my IBFX its great to look at the markets closing 2hours before on FXPro and then waiting for it to close on IBFX
  • #53,785
  • Feb 3, 2010 6:11am Feb 3, 2010 6:11am
Quoting Dan Gilbert
.
Dan i did some research on IBs a couple of weeks ago and i found a tool attached by Dale which shows you all the IBs on the chart Dale's IB tool
  • #53,786
  • Feb 3, 2010 6:12am Feb 3, 2010 6:12am
Quoting wh1zz0
Hi guys, just want to share something with you all this morning.... Enjoy watching.

http://www.youtube.com/watch?v=x-jej6XorF0
1st 15secs already threw me off, just laughed throughout the rest lol
gotta show my friends
Simplicity is the key to success
  • #53,787
  • Feb 3, 2010 6:39am Feb 3, 2010 6:39am
Quoting nasir.khan
Anyone watching this?

If it could cross 125.60, 125.00 is a sure thing IMO.

But we are inside the range also.

Confusing??

Leave it !!!!!!!!
Now it's showing a better deal. (4H PIN)
  • #53,788
  • Feb 3, 2010 6:47am Feb 3, 2010 6:47am
Quoting ppfx
hey Dan be careful to not miss some chart

FXPro is great, i previously used IBFX and then i saw someone (i think it was KissFan) on this thread using FXPro. Now i combine it with my IBFX its great to look at the markets closing 2hours before on FXPro and then waiting for it to close on IBFX
I have 7 pairs+ GOLD and OIL on my MT4.

and i still miss trades.

Like the touch on cable at 1.6073.
  • #53,789
  • Feb 3, 2010 6:54am Feb 3, 2010 6:54am
went short on the break of the BOB,
1. 1.0 level
2. double top
3. this BOB is bigger then the 3 last bar = very strong.

but in the meantime the trade doesn`t go in my favor :
any thought on this?
tnx.
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Wellcome to the good life!
  • #53,790
  • Edited 7:11am Feb 3, 2010 6:56am | Edited 7:11am
Hi fellow traders.

Anyone watching this possible pinbar on the EURUSD Daily.

I know it has a way to go yet and my not even end up as a PB but I would appreciate your views.

A51
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  • #53,791
  • Feb 3, 2010 7:10am Feb 3, 2010 7:10am
Need fresh eyes to look this over, how would you trade this pin bar currently forming on the EU daily.
*It is at 23.6% of the move from 1.4580
*Also at 50% of the move from 1.4205
*It touched the 10EMA line.
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non si dimentichi mai
  • #53,792
  • Feb 3, 2010 7:20am Feb 3, 2010 7:20am
Quoting Area51
Hi fellow traders.

Anyone watching this possible pinbar on the EURUSD Daily.

I know it has a way to go yet and my not even end up as a PB but I would appreciate your views.

A51
Even though I don't consider it a great pin (I'd prefer a much bigger bar/nose), I like the following:

1) 50% fib of last move down
2) Nice round number rejection at 1.40000
3) With the down trend
4) First retrace back to prior support

I think this is a good continuation pin of the prevailing trend.

Negatives:

1) Way early in the day (yes, I know I am captain obvious)
2) NFP tomorrow....a wild swing could stop you out before doing exactly
what you expected (a move down)

I will see how it closes. Most people probably won't like this one at all, but I view it as a good continuation pin with the trend.

Nathan
  • #53,793
  • Feb 3, 2010 7:27am Feb 3, 2010 7:27am
Hi, would anyone have an indicator for the daily, weekly, and monthly pivot? I have an indi but it also shows the R1 R2 R3 and S1 S2 and S3 lines for each and it's real messy.
  • #53,794
  • Feb 3, 2010 7:27am Feb 3, 2010 7:27am
Quoting Area51
Hi fellow traders.

Anyone watching this possible pinbar on the EURUSD Daily.

I know it has a way to go yet and my not even end up as a PB but I would appreciate your views.

A51
the GBPUSD has also a pin forming on the daily, im looking both, the correlate pretty good the GU is rejecting the 1.6000 area with a daily pin forming

the only problem is the tomorrow NFP which should strengthen dollar but it could swing up and stop you out as Nathan said.

will see
  • #53,795
  • Feb 3, 2010 7:37am Feb 3, 2010 7:37am
Quoting nasir.khan
Closed the Long from BUOB.

Now lets see how this bar closes.
you like to screw up with my trades don't you

anyway folks we are on the daily chart don't forget this think,way do you close your trade, there are only 2 bars that have been developed since the BEOB have been developed, you have to be patience and if price revers from the first critical point, we have so many ways to prevent a loss:

-move your SL at BE
-move your SL at high/low of the bar break(aka jaroo technique)
-trail your sl under recent S/R, minor swing high/low
etc.

Anyway my point is we must give them time,especially on higher TF,and a little room for breathe,here is my plan, hope that NFP will help a little bit,if not so be it,for that are the SL.

the last candle I see it as a "reinforcement" for his go downwords,it came a little back to get more "fuel", but I could be totally wrong.

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  • #53,796
  • Feb 3, 2010 7:43am Feb 3, 2010 7:43am
Quoting plus50
Need fresh eyes to look this over, how would you trade this pin bar currently forming on the EU daily.
*It is at 23.6% of the move from 1.4580
*Also at 50% of the move from 1.4205
*It touched the 10EMA line.
No longer a pin now........who knows could close as a beob.
  • #53,797
  • Feb 3, 2010 7:52am Feb 3, 2010 7:52am
fiber and u/chf

I have to admit it that those situation I like the most when after your order is triggered you have a little drawdown,like 2.6pips on uchf and 10 pips on fiber.

wish you the best!

PS: when uchf reached 1.5 I automaically place a order on fiber,I like to play them in tandem

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  • #53,798
  • Feb 3, 2010 7:55am Feb 3, 2010 7:55am
Quoting ghous
Gu was never a trade for me, and there are quite a few reasons for it.

Firstly the beob formed above the round number when it should really have been on it or just below it.

Secondly look at the close, a more authoritative close near the low of the beob would have been better...that close high above in my eyes takes away quite a bit of its strength.

Thirdly, a break of 1.6 wasn't the only worry IMHO. The bar highs just below it might also have been of some worry to me at least.

Fourthly, I see the 61.8 fib and the ppz on...
I've been wondering on how you put that extra bar on your chart
  • #53,799
  • Feb 3, 2010 8:02am Feb 3, 2010 8:02am
The cable I wanted it to be much more higher,as ghous have pointed out in his recent post, but we can't dictate to the market what to do so I have pulled the trigger after the BEOB have came in shape.

- is off 50%fib and 150EMA enough reason for pulling the trigger

- and with the aussie,well is all on the charts

- hope you guys expected dollar to gain strength

wish you the best!

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  • #53,800
  • Edited 8:19am Feb 3, 2010 8:03am | Edited 8:19am
Quoting triger88990
fiber and u/chf

I have to admit it that those situation I like the most when after your order is triggered you have a little drawdown,like 2.6pips on uchf and 10 pips on fiber..............
Quote
you like to screw up with my trades don't you

Ok happy now???

Btw i have deleted U-chf from my MT4. It's like placing two orders at EU.
.
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