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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

  • #56,341
  • Feb 25, 2010 10:38pm Feb 25, 2010 10:38pm
Quoting tubguy

Plan on being more active in the future.
Hope so
  • #56,342
  • Feb 25, 2010 10:51pm Feb 25, 2010 10:51pm
Quoting mbqb11
Hope so

Thanks Mike, Been dealing with a lot of demons.
It's not my style to trouble others with my problems. Trading included.
So i just kinda Lurk and hope someone ask's the question I want the answer
to.

Thanks for being so active and available. PF and here.

It dang sure don't go unnoticed.
  • #56,343
  • Feb 25, 2010 11:04pm Feb 25, 2010 11:04pm
Quoting SeekingLight
The "setup" bar needs to close, i.e. the BEOB, BUOB, PB, DBHLC/DBHLC, IB, etc.
Once this bar has closed, say the bullish pin bar, only then will you be able to say that's actually this and that bar shape to begin with, right?
And now once the very next bar moves past the setup bar's high or low(high in the bullish PB's case), that's the entry, with the stop on the other side(below the bullish PB).
Okay?
Oh thank you so much Patrick, my bad for not making my question clear in the first place, I was asking about the "very next bar". You have given a very great answer, as always.

Looking forward to seeing you share more great trades!
Dreams are hard to follow, but don't let anyone, tear them away...
  • #56,344
  • Feb 25, 2010 11:06pm Feb 25, 2010 11:06pm
*looks down at active users list and readies notepad and paper*
When you have to shoot, shoot. Dont talk.
  • #56,345
  • Feb 25, 2010 11:08pm Feb 25, 2010 11:08pm
Why is it every time I pop in to say hi, this thread is in a different sub forum?

Anyway, greetings to all.
  • #56,346
  • Feb 25, 2010 11:13pm Feb 25, 2010 11:13pm
Quoting Darkstar
Why is it every time I pop in to say hi, this thread is in a different sub forum?

Anyway, greetings to all.
good question

Hey there bud good too see you
  • #56,347
  • Feb 25, 2010 11:14pm Feb 25, 2010 11:14pm
Good to see you here DS. What's been on your mind these days?
  • #56,348
  • Feb 25, 2010 11:17pm Feb 25, 2010 11:17pm
Quoting TiaForex
What's been on your mind these days?
Health care, search engine optimization, asp.net, the craziness in greece. Not that anyone really cares about such things, but since you asked.
  • #56,349
  • Edited 11:34pm Feb 25, 2010 11:22pm | Edited 11:34pm
EUR/USD - SHORT

I was wondering what you guys thought about this. A bearish reversal signal, at resistance, after a long run up...Is this okay to fight the trend given such a clear signal?

I've been working on situations a lot like this. I like to trade with the trend, but i feel reversals, given some wiggle room and the right situation, can offer a great R:R ratio.

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in contrast to trading with the trend here:

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  • #56,350
  • Feb 25, 2010 11:23pm Feb 25, 2010 11:23pm
Quoting Darkstar
Why is it every time I pop in to say hi, this thread is in a different sub forum?

Anyway, greetings to all.
Hey DS. What's up?
Indicators show the past. Price Action "Indicates" the future.
  • #56,351
  • Feb 25, 2010 11:29pm Feb 25, 2010 11:29pm
Quoting Darkstar
Health care, search engine optimization, asp.net, the craziness in greece. Not that anyone really cares about such things, but since you asked.
Hey DS,
Bout to go to bed, but I find anything you have to say interesting.
Greece,SEO,The state of the world, Etc.

BTW. enjoyed the thread about brokers.
  • #56,352
  • Feb 25, 2010 11:42pm Feb 25, 2010 11:42pm
Quoting Piggleop
EUR/USD - SHORT

I was wondering what you guys thought about this. A bearish reversal signal, at resistance, after a long run up...Is this okay to fight the trend given such a clear signal?

I've been working on situations a lot like this. I like to trade with the trend, but i feel reversals, given some wiggle room and the right situation, can offer a great R:R ratio.


in contrast to trading with the trend here:
Is that a 20minute chart?

What clear signal are you seeing?
Indicators show the past. Price Action "Indicates" the future.
  • #56,353
  • Feb 25, 2010 11:54pm Feb 25, 2010 11:54pm
Quoting jarroo
Is that a 20minute chart?

What clear signal are you seeing?
Bearish engulfing, forget what it's called on bar charts, at resistance level.
  • #56,354
  • Feb 25, 2010 11:59pm Feb 25, 2010 11:59pm
Quoting Piggleop
Bearish engulfing, forget what it's called on bar charts, at resistance level.
We call it the same thing on the candle chart, BEarish Outside Bar. But the candle (or bar) has to engulf the entire previous candle. This one does not.
Indicators show the past. Price Action "Indicates" the future.
  • #56,355
  • Feb 26, 2010 12:07am Feb 26, 2010 12:07am
Quoting jarroo
We call it the same thing on the candle chart, BEarish Outside Bar. But the candle (or bar) has to engulf the entire previous candle. This one does not.
No but it is a DBHLC...lol
  • #56,356
  • Feb 26, 2010 12:14am Feb 26, 2010 12:14am
Quoting stewrigh
No but it is a DBHLC...lol
No, its not a DBHLC. Its a BEBLC, BEarish Bar Lower Close. The Highs do not match.
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Indicators show the past. Price Action "Indicates" the future.
  • #56,357
  • Edited 12:31am Feb 26, 2010 12:17am | Edited 12:31am
Quoting nasir.khan
No it did't Nathan.

But a profit of 50,000$ is to much to give up simply to much.
.
Quoting nasir.khan
Closed my DJI and GOLD shorts. Mission accomplished.

Now loking at YEN.

W=Weekly--------W=WALL
.
I can't tell you in clear words, every time that i am changing the Direction of the market.

So stay focused. :nerd:

.

Many others but lets not spoil the thread.
.
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  • #56,358
  • Feb 26, 2010 12:18am Feb 26, 2010 12:18am
Quoting jarroo
We call it the same thing on the candle chart, BEarish Outside Bar. But the candle (or bar) has to engulf the entire previous candle. This one does not.
I realize it doesn't engulf the entire previous candle. Isn't this very difficult to do in forex, seeing as there aren't gaps? Are you implying that I shouldn't be making a trade with a near-bearish candle and must be more selective?
  • #56,359
  • Feb 26, 2010 12:22am Feb 26, 2010 12:22am
Quoting Piggleop
I realize it doesn't engulf the entire previous candle. Isn't this very difficult to do in forex, seeing as there aren't gaps? Are you implying that I shouldn't be making a trade with a near-bearish candle and must be more selective?
Not sure what gaps have to do with Outside Bars (candles). But yes, not only more selective with the formation of PA, but more so with their location.
Indicators show the past. Price Action "Indicates" the future.
  • #56,360
  • Feb 26, 2010 12:30am Feb 26, 2010 12:30am
Quoting jarroo
No, its not a DBHLC. Its a BEBLC, BEarish Bar Lower Close. The Highs do not match.
J - I thought it was the body of the candle we looked at rather than the wicks for these or do I misunderstand.
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