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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

  • #54,661
  • Feb 11, 2010 4:01am Feb 11, 2010 4:01am
Quoting Dhb
Quick update:

When price did eventually reach the ppz, it did what one would have expected it to do. Act as resistance. Did not take this trade myself btw, since I was asleep at the time. On the M30 chart, which is the timeframe I used before to show the setup, there was a pin that first signalled a reversal. Had you placed your stop above this candle, you would have had a few hairy moments, as the next candle did trigger your short, but came back up. Fortunately, your position would not have been taken out, but it did come close. Had you missed...



Well said Boy.

This can be applied to any time frame. The higher the better.

Great bars at great locations. The PA could have be bolder but not bad.

Great post.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #54,662
  • Feb 11, 2010 4:01am Feb 11, 2010 4:01am
Quoting MattW
Hey Jaroo, Mike - do either of you still trade DIBS?
Hey Matt,
i believe Sir jarroo (& Sir mike too, if he uses it; mike_w, right?) already "have DIBS in their blood" & are unconsciously applying it, one way or another, in their trades.
  • #54,663
  • Feb 11, 2010 4:05am Feb 11, 2010 4:05am
Quoting supremeChaos
Hey Matt,
i believe Sir jarroo (& Sir mike too, if he uses it; mike_w, right?) already "have DIBS in their blood" & are unconsciously applying it, one way or another, in their trades.

Good observation my friend. I do apply the "Free Trade" position to many of my PA setups.

Good to see you sChoas. Have you been taking some R&R?
Indicators show the past. Price Action "Indicates" the future.
  • #54,664
  • Feb 11, 2010 4:38am Feb 11, 2010 4:38am
Sir jarroo,
Thanks for asking.
R&R because of no internet connection for about +/-2weeks.
i believe this is blessing in disguise (clearer, relaxed mind)

i got some 400-500posts (backlog) to read on this thread.

it's great to see everyone again. http://cdn.forexfactory.com/images/s...im/winking.gif
  • #54,665
  • Feb 11, 2010 4:42am Feb 11, 2010 4:42am
And to think it was your enthusiasm that encouraged me to look closer!
  • #54,666
  • Feb 11, 2010 4:46am Feb 11, 2010 4:46am
Quoting supremeChaos
Sir jarroo,
Thanks for asking.
R&R because of no internet connection for about +/-2weeks.
i believe this is blessing in disguise (clearer, relaxed mind)

i got some 400-500posts (backlog) to read on this thread.

it's great to see everyone again. http://cdn.forexfactory.com/images/s...im/winking.gif
I hate when that happens, (knock on wood).

Good you have you back.
Indicators show the past. Price Action "Indicates" the future.
  • #54,667
  • Feb 11, 2010 4:51am Feb 11, 2010 4:51am
Quoting supremeChaos
Hey Matt,
i believe Sir jarroo (& Sir mike too, if he uses it; mike_w, right?) already "have DIBS in their blood" & are unconsciously applying it, one way or another, in their trades.
Looks like the DIBS "Free Trade" position, if applied to ghous' trade on the 2 Day PB Gbp/Aud, would have worked out nicely.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #54,668
  • Feb 11, 2010 4:58am Feb 11, 2010 4:58am
Quoting jarroo
Looks like the DIBS "Free Trade" position, if applied to ghous' trade on the 2 Day PB Gbp/Aud, would have worked out nicely.
Are the blue vertical lines on the chart the initial profit target, and initial stop level (defined by taking initial profit as 1R and backwards applying that to give a stop level)?
  • #54,669
  • Feb 11, 2010 5:01am Feb 11, 2010 5:01am
Quoting supremeChaos
Sir jarroo,
Thanks for asking.
R&R because of no internet connection for about +/-2weeks.
i believe this is blessing in disguise (clearer, relaxed mind)

i got some 400-500posts (backlog) to read on this thread.

it's great to see everyone again. http://cdn.forexfactory.com/images/s...im/winking.gif

good luck with cathing up with the thread

and glad to see you back!!

I did have in the past some issue with my internet service provider,hope they won't repeat I know is very annoying

all the best!!
  • #54,670
  • Feb 11, 2010 5:05am Feb 11, 2010 5:05am
Today I entered the market using two double inside bars on the 4 hr TF...

Although I have already taken part of my position off and will trail most of my remaining position. A small part of the position I will leave at break even....

This break even part will either be stopped out, or it has the potential of becoming a small part of a position that could remain in the market for years.

Best regards
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  • #54,671
  • Feb 11, 2010 5:07am Feb 11, 2010 5:07am
Quoting MattW
Are the blue vertical lines on the chart the initial profit target, and initial stop level (defined by taking initial profit as 1R and backwards applying that to give a stop level)?
I'm not sure where his initial stop was, but once is 1st target was hit ( +80 pips) he would then take half off and then place the 2nd half -80 pips away from his entry. Thus putting himself in a "free trade".

Shown better here on the 4 hour chart.
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Indicators show the past. Price Action "Indicates" the future.
  • #54,672
  • Feb 11, 2010 5:07am Feb 11, 2010 5:07am
Quoting Dale
Today I entered the market using two double inside bars on the 4 hr TF...

Although I have already taken part of my position off and will trail most of my remaining position. A small part of the position I will leave at break even....

This break even part will either be stopped out, or it has the potential of becoming a small part of a position that could remain in the market for years.

Best regards
Hey Dale,

Do you take your breaks in a direction based on "up-on-the-day" or do you take a break in either direction?
  • #54,673
  • Feb 11, 2010 5:09am Feb 11, 2010 5:09am
Quoting Dale
Today I entered the market using two double inside bars on the 4 hr TF...

Although I have already taken part of my position off and will trail most of my remaining position. A small part of the position I will leave at break even....

This break even part will either be stopped out, or it has the potential of becoming a small part of a position that could remain in the market for years.

Best regards

Very nice Dale.

Peter Crowns would be proud.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #54,674
  • Feb 11, 2010 5:14am Feb 11, 2010 5:14am
Quoting MattW
Hey Dale,

Do you take your breaks in a direction based on "up-on-the-day" or do you take a break in either direction?
4 Hourly Inside Bars are usually taken in the direction of the weekly. So if the IB forms under the open part of the week then south, north if above. There can be some other factors to consider also such as weekly S/R which would void IBs taken if there was immediate S/R above or below that point. That is how I take them and it looks as though Dale has done the same with this one.

Sorry if I hijacked the answer there. I spent a far amount of time trading IBs and have found that thats the best approach from a 4 hourly view.

Razor
  • #54,675
  • Feb 11, 2010 5:15am Feb 11, 2010 5:15am
Quoting jarroo
...
Peter Crowns would be proud..
hope he still lurks here... & will post again one day.
  • #54,676
  • Feb 11, 2010 5:18am Feb 11, 2010 5:18am
Quoting Razor_trader
4 Hourly Inside Bars...
Sorry if I hijacked the answer there....
Hey Razor,
"hijacking" but coming up with a good answer is ok, imho
more views/insights, the better
  • #54,677
  • Feb 11, 2010 5:19am Feb 11, 2010 5:19am
Quote
Do you take your breaks in a direction based on "up-on-the-day" or do you take a break in either direction?

This is another proven Dibs concept and a key one. If I am looking for an inside bar entry on the one hour time frame I will certainly use this approach.

It is my opinion that dibs was not intended to be a purely mechanical system that is traded blindly, Just my opinion.

If you use confluence which is demonstrated here, you may at times be able to add "up-on-the-day" and "up-on-the-week" to improve your results.

Good trading

Dale
  • #54,678
  • Feb 11, 2010 5:19am Feb 11, 2010 5:19am
Quoting supremeChaos
hope he still lurks here... & will post again one day.
He dropped by at the DIBs thread a few months back to see how things were going. He mentioned that he pops in every now and again but due to being overwhelmingly busy (bless him and his success) he doesnt post. Beside if he was to start posting again it would probably be a bit of the old overdone questions that tired him before.

Razor
  • #54,679
  • Feb 11, 2010 5:20am Feb 11, 2010 5:20am
1st post for this thread. Btw, Still a newbie. 2 PB forming in h1 timeframe, price rejection 0.7000.
SL above the last h4 candle. Take profit at 0.6970 for 1st position, and BE for 2nd position.
Welcome for all comment.
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  • #54,680
  • Feb 11, 2010 5:21am Feb 11, 2010 5:21am
Quoting supremeChaos
Hey Razor,
"hijacking" but coming up with a good answer is ok, imho
more views/insights, the better
lol sweet, well I may just have to add here and there when I get some time. It is a great thread and I am sure it has helped many new members find there feet.
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