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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

  • #56,041
  • Feb 24, 2010 9:53am Feb 24, 2010 9:53am
how do you rate such BEOB on GBPCAD? I think it's in nice place, and short position will go with trend.
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  • #56,042
  • Feb 24, 2010 9:53am Feb 24, 2010 9:53am
Quoting datogio
lol, the same here and then i gave up with the converter
Its working sweet. Maybe you might take a second look now.
Indicators show the past. Price Action "Indicates" the future.
  • #56,043
  • Feb 24, 2010 9:56am Feb 24, 2010 9:56am
Quoting triger88990
on this one take a loss trying to catch the top.

I found a very attractive PB on lower tf, at swing high with divergence(I know is not the best way to spot the divergente along that many bars)

and it took me out

and on my platform my BEOB it has already break out

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mike is seems that this situation fit to your criterias

to me is a definitely YES, after it took off the last swing high it was a sell off of that area

is this a perfect example?

all the best!

thanks!
Hey Trig

You are getting there, but based on the fact that it is a 15min I am going to be even more picky so that pin won't fit the criteria. It is to small with a poor close. The better bar there is the BEOB that engulfs 5 prior bars. But this is the scenario I am speaking about although 15 min isn't where I want to see anyone

Mike
  • #56,044
  • Feb 24, 2010 10:01am Feb 24, 2010 10:01am
Quoting jarroo
Its working sweet. Maybe you might take a second look now.
absolutely, MT4 has not enough default time frames to better confuse me. lol
  • #56,045
  • Feb 24, 2010 10:03am Feb 24, 2010 10:03am
Quoting datogio
Missed the girl because of the lack of attention lol

Hey datogio. Yes this is a classic Rac setup here. Nice.

Here is how I saw it. Fib 61.8, trendline and S/R level.

Curious how you formed that other trendline . or . diangle S/R?

Thanks,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #56,046
  • Feb 24, 2010 10:07am Feb 24, 2010 10:07am
Quoting jarroo
Hey datogio. Yes this is a classic Rac setup here. Nice.

Here is how I saw it. Fib 61.8, trendline and S/R level.

Curious how you formed that other trendline . or . diangle S/R?

Thanks,

Jim
simply line chart.
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  • #56,047
  • Feb 24, 2010 10:09am Feb 24, 2010 10:09am
Quoting mbqb11
Hey Trig

You are getting there, but based on the fact that it is a 15min I am going to be even more picky so that pin won't fit the criteria. It is to small with a poor close. The better bar there is the BEOB that engulfs 5 prior bars. But this is the scenario I am speaking about although 15 min isn't where I want to see anyone

Mike

I only wanted to see if I'm getting in to your words,because I do take notes from some time about this scenario,and when I saw your post I wanted to be sure that I'm getting your point.

is like the 123 pattern,which can be a strong tool if is sustain by confluence

I know is not that much in that PB, I was looking more at the location to see some sort of reaction in price

anyway thanks a lot!

all the best
  • #56,048
  • Feb 24, 2010 10:14am Feb 24, 2010 10:14am
Quoting datogio
simply line chart.
Oh I see. Thanks.
Indicators show the past. Price Action "Indicates" the future.
  • #56,049
  • Feb 24, 2010 10:18am Feb 24, 2010 10:18am
Quoting jarroo
Oh I see. Thanks.
you're welcome sensei
  • #56,050
  • Feb 24, 2010 10:39am Feb 24, 2010 10:39am
Quoting datogio
you're welcome sensei
Indicators show the past. Price Action "Indicates" the future.
  • #56,051
  • Feb 24, 2010 10:57am Feb 24, 2010 10:57am
Any comment for this PB? off 23.6. Support by daily BEOB.
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  • #56,052
  • Feb 24, 2010 11:08am Feb 24, 2010 11:08am
2:00pm, lets get ready to rock and roll!!!!
Keep taking CT trades, I need more money
  • #56,053
  • Edited 12:07pm Feb 24, 2010 11:19am | Edited 12:07pm
Quoting hehesam
Any comment for this PB? off 23.6. Support by daily BEOB.
Hey hehesam. Let's back up a bit and see where the major PPZ levels are on the higher time frames, Weekly/Daily. When I veture down to the 4 hour time frame I want to be aware of these levels.

On the Weekly and Daily we have a couple a strong levels at the .8850-40, .8700 and the 8600. Also Price seems to be consolidating nicely.

Now when we look at the 4 hour time frame we get a better look at what's going on.

now with the setup. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #56,054
  • Feb 24, 2010 11:19am Feb 24, 2010 11:19am
Your signature just made me laugh out loud and its been months since the "BOB" incident. lol

Quoting Ryanmcd
2:00pm, lets get ready to rock and roll!!!!
  • #56,055
  • Feb 24, 2010 11:21am Feb 24, 2010 11:21am
Quoting Ryanmcd
2:00pm, lets get ready to rock and roll!!!!
GUY'S are back from lunch ??..I was about to go to bed.. it's 12.30 AM here.
  • #56,056
  • Feb 24, 2010 11:26am Feb 24, 2010 11:26am
Quoting nasir.khan
GUY'S are back from lunch ??..I was about to go to bed.. it's 12.30 AM here.

10:30 and 2:30 are the times things happen just like in anyone else's day. 12-1 = lunch that's why I hit the gym. 10:30 want to get done before 12 = lunch, 2:30 want to get done before 4:00 = close.

It's funny no one talks about TIME ever, I use time and it's a HUGE edge, I have 10 days and the cycles point it out, it's like EW but it's nice having a 70-80% chance of what way the market is going to move
Keep taking CT trades, I need more money
  • #56,057
  • Feb 24, 2010 11:29am Feb 24, 2010 11:29am
GBP/JPY - looking to go long

Ok so this is my first post in this thread, was looking for some input on my thoughts about this trade. The price seems to be testing the lows, but without much strength. As explained in my graph, im looking to go long on signs of strength upwards (bull engulfing type patterns etc.)

edit: i'm using the hourly and 4 hour time frames here. I usually look for patterns on the hourly + price action, then confirm it by looking at the broader picture (trends, consolidation etc) with the 4-hour chart.

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  • #56,058
  • Feb 24, 2010 11:33am Feb 24, 2010 11:33am
Quoting Piggleop
GBP/JPY - looking to go long

Ok so this is my first post in this thread, was looking for some input on my thoughts about this trade. The price seems to be testing the lows, but without much strength. As explained in my graph, im looking to go long on signs of strength upwards (bull engulfing type patterns etc.)

edit: i'm using the hourly and 4 hour time frames here. I usually look for patterns on the hourly + price action, then confirm it by looking at the broader picture (trends, consolidation etc) with the 4-hour chart.

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What way is the current trend?
Keep taking CT trades, I need more money
  • #56,059
  • Feb 24, 2010 11:36am Feb 24, 2010 11:36am
Quoting Ryanmcd
What way is the current trend?
good point, on the 4-hour chart it seems to be range-bound, so actually if it breaks from support I'd consider it trending downwards. Short term, though, the trend is definitely down (last 20+ candles or something like that). Do you think this is a mistake to consider that a trend even if it's been pretty sharply going down recently?
  • #56,060
  • Feb 24, 2010 11:39am Feb 24, 2010 11:39am
Quoting Ryanmcd
10:30 and 2:30 are the times things happen just like in anyone else's day. 12-1 = lunch that's why I hit the gym. 10:30 want to get done before 12 = lunch, 2:30 want to get done before 4:00 = close.

It's funny no one talks about TIME ever, I use time and it's a HUGE edge, I have 10 days and the cycles point it out, it's like EW but it's nice having a 70-80% chance of what way the market is going to move
Well if you trade daily and weekly you don't have to worry about market timings and news. So this is the reason people don't talk about time here. But if you trade 5M it's better to trade in best timings you could get depending on your GMT.
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