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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

  • #58,781
  • Mar 22, 2010 2:13am Mar 22, 2010 2:13am
Quoting Dan Gilbert
another good weekly bar to consider...
Deja vu all over again? Maybe.

Heading into a strong Weekly PPZ level at the 1.0650. Hard and strong break and retrace to that PPZ level looks good, but then again the Jan. PB broke and never looked back. This one looks stronger, although a bit small.
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Indicators show the past. Price Action "Indicates" the future.
  • #58,782
  • Mar 22, 2010 2:28am Mar 22, 2010 2:28am
Quoting ppfx
A very nice one.


How did ya know dat.
.
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  • #58,783
  • Mar 22, 2010 2:44am Mar 22, 2010 2:44am
Quoting markjuan1
Hi Everyone,

Ok its time for me to share my last year with everyone. I got into Forex about a year ago. One of the first forums I came to was james16. I read the whole forum and started using the methods taught here. In my first 3 months here I turned $75 into $1600. I thought I had found my retirement plan, but then I got cocky. I left the forum and thought to myself, I can do this without following all the rules. What is money management anyway? I don't need a budget for this. HaHa !!! Boy was I ignorant. I lost every bit of it in about a week...

1st post material, for sure.
Indicators show the past. Price Action "Indicates" the future.
  • #58,784
  • Mar 22, 2010 2:58am Mar 22, 2010 2:58am
Quoting jarroo
Deja vu all over again? Maybe. ..
Awesome!
...& here's something further back.
noticed this in early January while tinkering with charts.
let's see what it does in the future.

orange lines are line chart-based.
the first & last pinbars are both March formations.
the middle blue box shows a 2-week PB.
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  • #58,785
  • Mar 22, 2010 3:48am Mar 22, 2010 3:48am
What do you think of this weekly PB:

- In line with trend
- around 1.250
- strong 45 degrees trendline.
Any thoughts ?

Tx
Ogeid
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  • #58,786
  • Mar 22, 2010 4:53am Mar 22, 2010 4:53am
OK, I got the retracement I was looking for. 1st TP 1.06285
If your gunna be dumb, you've gotta be tuff.
  • #58,787
  • Mar 22, 2010 4:58am Mar 22, 2010 4:58am
Quoting nasir.khan


How did ya know dat.
.
Hmmm this could help the cause also.
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  • #58,788
  • Mar 22, 2010 5:25am Mar 22, 2010 5:25am
Here is a Nice BUOB at an extreme low.
One thing though, RN 1.0200 is 10 pips ahead. Let's see how it breaks...
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  • #58,789
  • Mar 22, 2010 6:05am Mar 22, 2010 6:05am
Quoting benji533
Here is a Nice BUOB at an extreme low.
One thing though, RN 1.0200 is 10 pips ahead. Let's see how it breaks...
Hi Benji

Wondered if this might be a pull back to 1.0200 - looks to me like this pair has been in a range between 1.0700 to 1.0200 since late October. May be now breaking out with pull back to 1.0200 before continuing overall downtrend?

Sorry if this is newbie rubbish

Thanks

J
  • #58,790
  • Mar 22, 2010 6:18am Mar 22, 2010 6:18am
I am wondering if any of these potential PB setup is better than the others in terms of confluence strength. All 2 bars are the same relative to each other in each of these 4 setups only the BRN level is different (relative to the bars).

Is there an order we can rank them in terms of quality of setup or are they equally good?

Appreciate any comments.
Thanks.

CY
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  • #58,791
  • Mar 22, 2010 6:19am Mar 22, 2010 6:19am
Quoting benji533
Here is a Nice BUOB at an extreme low.
One thing though, RN 1.0200 is 10 pips ahead. Let's see how it breaks...
Hi Ben,
This was posted earlier about this "BUOB"

USDCAD : Although its a bullish outside bar (not text book type), its previous bar is also bullish. so its not a bullish engulfing bar. if the previous bar was bearish , then this bar would have been a bullish engulfing bar. also the open is little high. the body must engulf the body. it tail, wick also engulf, then its a perfect setup. this coupled with close trouble area, its a pass for me.

i may be wrong, i am also learning all these things ...

So, please Ben... what really is a true BUOB??!!

Thanks...
Cherry
  • #58,792
  • Mar 22, 2010 6:27am Mar 22, 2010 6:27am
CAD/JPY has been stuck in a range for the past year. A pinbar has formed at the top of that range on the daily. The top of the range is also a 38.2 fib retracement of the big move between 2007 and 2009. How would you rate this setup? Is this something people would take if they are being ultra picky?
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  • #58,793
  • Mar 22, 2010 6:30am Mar 22, 2010 6:30am
Quoting Cherry
Hi Ben,
This was posted earlier about this "BUOB"

USDCAD : Although its a bullish outside bar (not text book type), its previous bar is also bullish. so its not a bullish engulfing bar. if the previous bar was bearish , then this bar would have been a bullish engulfing bar. also the open is little high. the body must engulf the body. it tail, wick also engulf, then its a perfect setup. this coupled with close trouble area, its a pass for me.

i may be wrong, i am also learning all these things ......
If the last bar on H4 EURUSD would have closed the way I pointed in the chart below, than that would have been a really powerful BUOB. Off of BRN, strong PPZ, engulfing 2 (or 3) previous bars. Perfect in my opinion.
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  • #58,794
  • Mar 22, 2010 6:40am Mar 22, 2010 6:40am
Quoting jspeakman
Hi Benji

Wondered if this might be a pull back to 1.0200 - looks to me like this pair has been in a range between 1.0700 to 1.0200 since late October. May be now breaking out with pull back to 1.0200 before continuing overall downtrend?

Sorry if this is newbie rubbish

Thanks

J
Nothing is rubbish. That really might be the case. But not the way I trade personally. I am just paying more attention on how price would behave around that area.
My long signal can be other one's short signal and none of us would be right or wrong.
  • #58,795
  • Mar 22, 2010 6:42am Mar 22, 2010 6:42am
Quoting ertorque
I am wondering if any of these potential PB setup is better than the others in terms of confluence strength. All 2 bars are the same relative to each other in each of these 4 setups only the BRN level is different (relative to the bars).

Is there an order we can rank them in terms of quality of setup or are they equally good?

Appreciate any comments.
Thanks.

CY
"D" and "C" are what I personally would like to see.
  • #58,796
  • Mar 22, 2010 6:43am Mar 22, 2010 6:43am
Quoting ertorque
I am wondering if any of these potential PB setup is better than the others in terms of confluence strength. All 2 bars are the same relative to each other in each of these 4 setups only the BRN level is different (relative to the bars).

Is there an order we can rank them in terms of quality of setup or are they equally good?

Appreciate any comments.
Thanks.

CY
Ertorque,

All of these pinbars are acceptable IMO, but I would be the most confident with setup D. First of all, the bar prior to the pin hits the round number and is slightly rejected. Second of all, the actual pinbar moves above resistance pretty significanty, giving it all the chance in the world to resume upward momentum and take out stops, but cannot sustain and is firmly rejected. If it breaks on the next bar I'd take it right away.
  • #58,797
  • Mar 22, 2010 6:52am Mar 22, 2010 6:52am
Quoting Cherry
Hi Ben,
This was posted earlier about this "BUOB"

USDCAD : Although its a bullish outside bar (not text book type), its previous bar is also bullish. so its not a bullish engulfing bar. if the previous bar was bearish , then this bar would have been a bullish engulfing bar. also the open is little high. the body must engulf the body. it tail, wick also engulf, then its a perfect setup. this coupled with close trouble area, its a pass for me.

i may be wrong, i am also learning all these things ......
An Outside bar is simply an engulfing bar with it's low lower than the previous bar's low, and high higher than the previous bar's high. Closing withing the 3/4 of the bar's upper/lower range.
I like this specific bar because of the size. You can see it is relativity quite big. The biggest among 14 last bars. It fully engulfs the range of the two last bars, and the close is well above the prior bars. Swing low where I would like it. Now just let it do it job and do not let your mind mess it up. Set alerts, walk away (who has a good sound alert BTW? lol).
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  • #58,798
  • Mar 22, 2010 6:57am Mar 22, 2010 6:57am
Quoting nasir.khan
Hmmm this could help the cause also.
Had exactly the same chart...currently demoing FX pairs correlated with gold, oil, equities etc...so played the CAD pairs on the break of the BEOB on oil.
  • #58,799
  • Mar 22, 2010 6:57am Mar 22, 2010 6:57am
Quoting nasir.khan
Hmmm this could help the cause also.
Ohh Yea Baby.
.
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  • #58,800
  • Mar 22, 2010 6:59am Mar 22, 2010 6:59am
OK 1st TP hit. SL moved to BE.
If your gunna be dumb, you've gotta be tuff.
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