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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

  • #61,521
  • Apr 22, 2010 3:11am Apr 22, 2010 3:11am
Quoting jarroo
4 hour BEOB, let's see how it turns out.
Something tells me we're going to trade the news before they get released. (Like USDCAD)
  • #61,522
  • Apr 22, 2010 3:12am Apr 22, 2010 3:12am
Quoting neutro
Something tells me we're going to trade the news before they get released. (Like USDCAD)

Oh . . . is there news on the Gbp? or the Chf?
Indicators show the past. Price Action "Indicates" the future.
  • #61,523
  • Apr 22, 2010 3:14am Apr 22, 2010 3:14am
Quoting jarroo
Oh . . . is there news on the Gbp? or the Chf?
Mmmm... no?

Well, yes, in 15 min. Red FF type of news.
  • #61,524
  • Apr 22, 2010 3:18am Apr 22, 2010 3:18am
Quoting neutro
Mmmm... no?

Well, yes, in 15 min. Red FF type of news.

I see. I don't look at that calendar to often. Let's see out it plays out.
Indicators show the past. Price Action "Indicates" the future.
  • #61,525
  • Apr 22, 2010 3:41am Apr 22, 2010 3:41am
Quoting jarroo
I see. I don't look at that calendar to often. Let's see out it plays out.
Looks like the bulls are showing their strength in the early hrs of the London session. Now retraced to the eye level of the bar prior to BEOB.
  • #61,526
  • Apr 22, 2010 3:42am Apr 22, 2010 3:42am
any one like the look of this, sorry about the lack of info on the chart but my trading platform doesnt have all the cool stuff mt4 does, and they dont seem to have cotton, I traded the first pin succesfully it was my first J16 trade, love how easy it makes trade management when you know why you got in and where and what to look for on the way

also traded the 3rd touch of 83 with a BEOB on the 4 hour

short on the break of the secong pin
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  • #61,527
  • Apr 22, 2010 3:48am Apr 22, 2010 3:48am
Quoting ertorque
Looks like the bulls are showing their strength in the early hrs of the London session. Now retraced to the eye level of the bar prior to BEOB.
That's a good sign that Price is respecting the BEOB, but the size is troubling to cause a significant reversal. This is almost a touch trade at a good location with the BEOB as confirmation. I'm not the best at touch trading . . .lol . . . so a bigger BEOB or PB would have been better.
Indicators show the past. Price Action "Indicates" the future.
  • #61,528
  • Apr 22, 2010 3:54am Apr 22, 2010 3:54am
Quoting Trndsurfer
any one like the look of this, sorry about the lack of info on the chart but my trading platform doesnt have all the cool stuff mt4 does, and they dont seem to have cotton, I traded the first pin succesfully it was my first J16 trade, love how easy it makes trade management when you know why you got in and where and what to look for on the way

also traded the 3rd touch of 83 with a BEOB on the 4 hour

short on the break of the secong pin
Looks good Trndsurfer. The best ones are always easy to manage.
Indicators show the past. Price Action "Indicates" the future.
  • #61,529
  • Apr 22, 2010 4:00am Apr 22, 2010 4:00am
i was watching both gb/chf and the eu/gb which was printing a nice BUOB untill the news, lol, i wasnt aware of it untill the spike happened...i was like ...WTF!! lol

why, with the bad numbers, did /does price drop!?? eu/gb dropped 19 pips in 3 seconds!??

jon

would stil like that buob though...??
PATIENCE... DISCIPLINE
  • #61,530
  • Apr 22, 2010 4:06am Apr 22, 2010 4:06am
Quoting g_j_hook@yah
i was watching both gb/chf and the eu/gb which was printing a nice BUOB untill the news, lol, i wasnt aware of it untill the spike happened...i was like ...WTF!! lol

why, with the bad numbers, did /does price drop!?? eu/gb dropped 19 pips in 3 seconds!??

jon

would stil like that buob though...??
Why did Price drop? Because everyone thought they would rise? Who knows? lol
Indicators show the past. Price Action "Indicates" the future.
  • #61,531
  • Apr 22, 2010 4:21am Apr 22, 2010 4:21am
Quoting jarroo
That's a good sign that Price is respecting the BEOB, but the size is troubling to cause a significant reversal. This is almost a touch trade at a good location with the BEOB as confirmation. I'm not the best at touch trading . . .lol . . . so a bigger BEOB or PB would have been better.

Looks like the news will do enough damage to bring price up to the high of BEOB. I am about to lose a seemingly good setup.
  • #61,532
  • Apr 22, 2010 4:22am Apr 22, 2010 4:22am
Quoting jarroo
Why did Price drop? Because everyone thought they would rise? Who knows? lol
lol....maybe they thought there were gonna be even worse!!???

bah...hum bug!! lol

jon
PATIENCE... DISCIPLINE
  • #61,533
  • Apr 22, 2010 4:23am Apr 22, 2010 4:23am
new lows, the bears are def. in comand here???
PATIENCE... DISCIPLINE
  • #61,534
  • Apr 22, 2010 4:26am Apr 22, 2010 4:26am
Quoting ertorque
Looks like the news will do enough damage to bring price up to the high of BEOB. I am about to lose a seemingly good setup.
What did we learn from this . . (Mike comes to mind) . . . Big bars at Great locations. Great location . . . little bar. . . no trade.

If that was a sizable BEOB, I would put it to you that the News would have meant nothing.

Just some thoughts.
Indicators show the past. Price Action "Indicates" the future.
  • #61,535
  • Apr 22, 2010 4:27am Apr 22, 2010 4:27am
Quoting g_j_hook@yah
lol....maybe they thought there were gonna be even worse!!???

bah...hum bug!! lol

jon

Yes that's right too. lol
Indicators show the past. Price Action "Indicates" the future.
  • #61,536
  • Apr 22, 2010 4:38am Apr 22, 2010 4:38am
Quoting jarroo
What did we learn from this . . (Mike comes to mind) . . . Big bars at Great locations. Great location . . . little bar. . . no trade.

If that was a sizable BEOB, I would put it to you that the News would have meant nothing.

Just some thoughts.
well, I definitely thought the size was decent, closed reasonably well below the low of the prior bar. Maybe I need to re-program myself to learn what is considered sizable by you guys' benchmark.
Thanks for the comments though
  • #61,537
  • Apr 22, 2010 4:45am Apr 22, 2010 4:45am
Quoting g_j_hook@yah
i was watching both gb/chf and the eu/gb which was printing a nice BUOB untill the news, lol, i wasnt aware of it untill the spike happened...i was like ...WTF!! lol

why, with the bad numbers, did /does price drop!?? eu/gb dropped 19 pips in 3 seconds!??

jon

would stil like that buob though...??
Europe pulls back after Greek deficit revision.
  • #61,538
  • Edited 5:17am Apr 22, 2010 4:54am | Edited 5:17am
Quoting ertorque
well, I definitely thought the size was decent, closed reasonably well below the low of the prior bar. Maybe I need to re-program myself to learn what is considered sizable by you guys' benchmark.
Thanks for the comments though
The close is good as it relates to the previous bar, also how many bars it engulfs is a good factor as well. Although swing high (BEOBs) won't engulf too many.

Heres a nice sizable BEOB on the same pair. Moving to B/E held up for a good amount of pips, better at the previous bar low or above the 1.7000.
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Indicators show the past. Price Action "Indicates" the future.
  • #61,539
  • Apr 22, 2010 4:57am Apr 22, 2010 4:57am
Quoting jarroo
Why did Price drop? Because everyone thought they would rise? Who knows? lol
Quoting nasir.khan
I have a strong feeling that we will have something like this today.
.

I knew it would drop. But did't got the timing right. Need to work hard, Need to work more hard.

Btw bar is looking pretty much close to what i sketched. lol
.
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  • #61,540
  • Apr 22, 2010 5:04am Apr 22, 2010 5:04am
nasir,
perhaps the wedge was not that steep.
Great job, still.
(btw, in other brokers, i believe the candle has not closed yet, so u may get a 'replica' of your drawing, lol)
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