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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

  • #59,481
  • Mar 29, 2010 3:46pm Mar 29, 2010 3:46pm
Quoting bluetrader
This BUOB is looking good off a PPZ and nice size.

If it can stay above 1.2900, it looks good to me.

Anyone seeing this? Comments?

-- Danny
No BUOB on my feed, but it could theoretically classify as a 2 day PB. Location is good with some room to run to 1.3000. No 50 or 61.8% fib though, that would have been nice. And the LL, LH are to be watched, on H4 they look a lot better. Not A+

But that 20p spread is a real deal killer...
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  • #59,482
  • Mar 29, 2010 3:53pm Mar 29, 2010 3:53pm
Quoting mbqb11
Just thought I would throw up a chart with the first trouble area to add to your analysis. I would have liked to see a lower low on the BUOB itself personally...
Thanks for the chart Mike. Why the lower low? Does the quality of the rejection improve the deeper it goes into the PPZ?

Thanks neutro, considering the FTA and the spread, this could get dicey to manage.

-- Danny
  • #59,483
  • Mar 29, 2010 3:57pm Mar 29, 2010 3:57pm
Quoting bluetrader
Thanks for the chart Mike. Why the lower low? Does the quality of the rejection improve the deeper it goes into the PPZ?

Thanks neutro, considering the FTA and the spread, this could get dicey to manage.

-- Danny
When you get those really deep lows/highs on outside bars it shows a real solid test of the orderflow underneath our areas. So if you pick the right area, get a very solid test and rejection that is some major sign of where price is going. I am picky with this stuff but those little things have helped me along the way. As for spread 20 is insane I saw that when I was making a video once, and I can't even figure that one out. Could be time for a new broker or at least another to trade certrain pairs.

Mike
  • #59,484
  • Mar 29, 2010 3:59pm Mar 29, 2010 3:59pm
Quoting Nawry
Another valuable lesson for me.. It's almost tenth time i cancel order that worked out ONLY because of opinion of other members. Absolutely i'm not complaining that others told me: be careful, and they were wrong, no, they weren't, i'm grateful for that and looking forward for more advices but i need to remember that it is up to me if i decide to take the trade, no one here will decide or do it for me. This is a little frustrating, but do you know what would be more frustrating? if someone here told me to take the trade and it failed. But then it...

Hey Nawry - the ONLY way you will learn this game is to trade them as you see them. In the end, it will not matter who says what, the only way to gain market wisdom is the apply the knowledge that you've gained. Knowledge without personal application is merely philosophy. Knowledge applied is wisdom.

Do what works for you, and drop the rest. Only time and practice will reveal what that mix is for you.
I'm pretty much done with all this ...
  • #59,485
  • Mar 29, 2010 4:04pm Mar 29, 2010 4:04pm
Quoting mbqb11
When you get those really deep lows/highs on outside bars it shows a real solid test of the orderflow underneath our areas. So if you pick the right area, get a very solid test and rejection that is some major sign of where price is going.
Thanks Mike, reading between the lines looks like you were referring to 1.2800. (excuse me while I redraw my ppz's)

FxPro is the broker. Spread sucks, but they've got a ton of instruments.

Thanks again.

-- Danny
  • #59,486
  • Mar 29, 2010 4:06pm Mar 29, 2010 4:06pm
Quoting neutro
USDJPY is 'coiling' up for a new run up. Or is it down? These I4B are tricky.

Amen from the back row.
I'm going to say down?

lol I'm so bad at predicting which way price will snap through, the good news is, it doesn't really matter which way, just that you are along for the ride.

Daily squeeze alert/I4B just formed on the daily charts for U/J (fxpro)... play accordingly guys.
Many choose unhappiness over uncertainty.
  • #59,487
  • Mar 29, 2010 5:44pm Mar 29, 2010 5:44pm
Quoting Dan Gilbert
I'm going to say down?

lol I'm so bad at predicting which way price will snap through, the good news is, it doesn't really matter which way, just that you are along for the ride.

Daily squeeze alert/I4B just formed on the daily charts for U/J (fxpro)... play accordingly guys.
I was just looking at how tough it is to trade UJ IB's. Over half of these daily IB's end up engulfed by the very next bar. I'll be watching the lower TF's for a bead on this one.

K.I.S.S.
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  • #59,488
  • Mar 29, 2010 5:50pm Mar 29, 2010 5:50pm
Quoting KissFan
I was just looking at how tough it is to trade UJ IB's. Over half of these daily IB's end up engulfed by the very next bar. I'll be watching the lower TF's for a bead on this one.

K.I.S.S.
none of the ibs you have highlighted there are squeeze alerts though! this one today is a legit squeeze alert pattern.

imo, that makes a very big difference!
Many choose unhappiness over uncertainty.
  • #59,489
  • Mar 29, 2010 7:20pm Mar 29, 2010 7:20pm
Quoting neutro
USDJPY is 'coiling' up for a new run up. Or is it down? These I4B are tricky.

Amen from the back row.
Its also a Double Inside Bar that just broke. Same with the 4 hour Gbp/Jpy. Nice.
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Indicators show the past. Price Action "Indicates" the future.
  • #59,490
  • Mar 29, 2010 7:23pm Mar 29, 2010 7:23pm
Quoting KissFan
I was just looking at how tough it is to trade UJ IB's. Over half of these daily IB's end up engulfed by the very next bar. I'll be watching the lower TF's for a bead on this one.

K.I.S.S.
What set this one apart is that its a Double Inside Bar. Let's see if that makes the diffence.
Indicators show the past. Price Action "Indicates" the future.
  • #59,491
  • Mar 29, 2010 7:35pm Mar 29, 2010 7:35pm
Quoting jarroo
Its also a Double Inside Bar that just broke. Same with the 4 hour Gbp/Jpy. Nice.
Easy low risk trade for 30-40 pips. And maybe more.
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Indicators show the past. Price Action "Indicates" the future.
  • #59,492
  • Mar 29, 2010 7:40pm Mar 29, 2010 7:40pm
Quoting jarroo
What set this one apart is that its a Double Inside Bar. Let's see if that makes the diffence.
Excellent point ya got there Jaroo. So far so good too!

K.I.S.S.
  • #59,493
  • Mar 29, 2010 7:41pm Mar 29, 2010 7:41pm
Quoting nasir.khan
10 more pips and we will have a decent PB.....
.
Would anyone take it.
.

Yes, on the break.
Indicators show the past. Price Action "Indicates" the future.
  • #59,494
  • Mar 29, 2010 7:44pm Mar 29, 2010 7:44pm
Quoting Dan Gilbert
none of the ibs you have highlighted there are squeeze alerts though! this one today is a legit squeeze alert pattern.

imo, that makes a very big difference!
What is a "squeeze alert"? Is it an IB to an IB?

K.I.S.S.
  • #59,495
  • Mar 29, 2010 7:44pm Mar 29, 2010 7:44pm
Quoting KissFan
Excellent point ya got there Jaroo. So far so good too!

K.I.S.S.
IBs can be tricky for sure. I think Dale looks for these type of IB setups for a reason.
Indicators show the past. Price Action "Indicates" the future.
  • #59,496
  • Mar 29, 2010 7:47pm Mar 29, 2010 7:47pm
Quoting KissFan
What is a "squeeze alert"? Is it an IB to an IB?

K.I.S.S.

Yeah that may be it . . . But I don't . . ..
Indicators show the past. Price Action "Indicates" the future.
  • #59,497
  • Mar 29, 2010 8:14pm Mar 29, 2010 8:14pm
http://yfrog.com/eu70188369g

There is a bullish pendant on USDJPY, now its broken, it could go down 50% of that pole
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  • #59,498
  • Mar 29, 2010 8:32pm Mar 29, 2010 8:32pm
Quoting jarroo
Yeah that may be it . . . But I don't . . ..
DanGilbert 'coined' a term for (possible) breakouts off of multiple IB's:
here.

in other words, Dale's Doubles or IxB's.
  • #59,499
  • Mar 29, 2010 8:33pm Mar 29, 2010 8:33pm
Quoting supremeChaos
DanGilbert 'coined' a term for (possible) breakouts off of multiple IB's:
here.

in other words, Dale's Doubles or IxB's.
I see. Thanks sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #59,500
  • Mar 29, 2010 8:42pm Mar 29, 2010 8:42pm
Quoting roundrock
There is a bullish pendant on USDJPY,..
(didnt check the website...)
shouldn't it be bullish pennant?
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