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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

  • #65,041
  • Edited May 28, 2010 3:11am May 27, 2010 11:16pm | Edited May 28, 2010 3:11am
Quoting Dan Gilbert
here I have shown the I4B highlighted in the blue box. My entry was @ 130.84. Even if I had entered at 130.59 with almost no buffer at all, price still would have taken me out after the hard bounce off 131.94.... I was planning on taking full profit @ 132.60

even a 100 pip move stop to B/E would have been a fail in both the no buffer, and large buffer situations....

Yes, even a no buffer entry would have been tight. But I would have the 1st target at the blue line previous High, about 80 pips away.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,042
  • May 27, 2010 11:25pm May 27, 2010 11:25pm
Quoting jarroo
Yes, even a no buffer entry would have been tight. But I would have the 1st target at the blue line previous High, about 75 pips away.
If you would have taken that trade, and managed it exactly as you show here, before the fact, I would bow down to you. I moved my stop to B/E, and was letting the whole thing run.

Jarroo, you know I love you, but this is a bit too hindsight for me to take serious

Are you saying full profit take at 131.55? Is that what you mean?
Many choose unhappiness over uncertainty.
  • #65,043
  • May 27, 2010 11:29pm May 27, 2010 11:29pm
Quoting Dan Gilbert
This extremely similar analysis technique is quite creepy in my opinion:

http://www.youtube.com/watch?v=hM79IhkbbAg
The whistling is the creepy part.
When you have to shoot, shoot. Dont talk.
  • #65,044
  • May 27, 2010 11:31pm May 27, 2010 11:31pm
Quoting Dan Gilbert
If you would have taken that trade, and managed it exactly as you show here, before the fact, I would bow down to you. I moved my stop to B/E, and was letting the rest run.

Jarroo, you know I love you, but this is a bit too hindsight for me to take serious

I do free trades all the time, friend. It's not that far fetched. The key is the right setup and I like your BRN I4+B. Its a great option than moving to just break even. Check your I4+B trades.

I'll post some trades before the fact to show you. Simple stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #65,045
  • May 27, 2010 11:36pm May 27, 2010 11:36pm
Quoting jarroo
Dan is really on to something with qualifying the I4+B setup with an additional confluence around BRNs.
Hello,

What does BRN stands for?
The RN might be Round Number, but what's the B for?

Thanks
Bun888
  • #65,046
  • May 27, 2010 11:36pm May 27, 2010 11:36pm
Quoting jarroo
I do free trades all the time, friend. It's not that far fetched. The key is the right setup and I like your BRN I4+B. Its a great option than moving to just break even. Check your I4+B trades.

I'll post some trades before the fact to show you. Simple stuff.
well I mean.... I could show a setup and say afterward: well as you can see here, if I took this, price would have missed me by 20 pips after over a 100 pip retrace, but that's ok because I prepared for just that!

In all seriousness, a deep trailing stop effective immediately when the trade was placed to reduce risk, while price moved into my target I think is a better argument for management.

Again jarroo, I love you! Don't get it twisted!
Many choose unhappiness over uncertainty.
  • #65,047
  • May 27, 2010 11:38pm May 27, 2010 11:38pm
Quoting joelcf
The whistling is the creepy part.
Mr Denninger is pretty creepy overall lol! I love his political ranting though.
Many choose unhappiness over uncertainty.
  • #65,048
  • May 27, 2010 11:44pm May 27, 2010 11:44pm
Quoting Dan Gilbert
In all seriousness, a deep trailing stop effective immediately when the trade was placed to reduce risk, while price moved into my target I think is a better argument for management.
I don't know what this means?
Indicators show the past. Price Action "Indicates" the future.
  • #65,049
  • May 27, 2010 11:48pm May 27, 2010 11:48pm
Quoting jarroo
I don't know what this means?
something I'm looking at... Let's say you set an initial S/L for a pin, or BUOB, and that initial stop is 150 pips.

Now you place a trailing stop of 150 pips on the trade, which activates immediately (where on MT4, the trailing stop isn't activated until the trade is that number of pips into profit, so you need an EA for this type of trailing stop I'm describing).

At the same time, you set a profit target. so your risk is reducing as price goes into profit, and simultaneously, the trade is closing in on your T/P price. If price retraces, you don't suffer a full bar loss.
Many choose unhappiness over uncertainty.
  • #65,050
  • May 27, 2010 11:50pm May 27, 2010 11:50pm
Quoting Dan Gilbert
something I'm looking at... Let's say you set an initial S/L for a pin, or BUOB, and that initial stop is 150 pips.

Now you place a trailing stop of 150 pips on the trade, which activates immediately (where on MT4, the trailing stop isn't activated until the trade is that number of pips into profit, so you need an EA for this type of trailing stop I'm describing).

At the same time, you set a profit target. so your risk is reducing as price goes into profit, and simultaneously, the trade is closing in on your T/P price. If price retraces, you...

Ok . . I see.
Indicators show the past. Price Action "Indicates" the future.
  • #65,051
  • May 27, 2010 11:58pm May 27, 2010 11:58pm
Quoting bun888
Hello,

What does BRN stands for?
The RN might be Round Number, but what's the B for?

Thanks
Bun888
The "B" stands for "Big" or "Bold" round numbers (also known as a "VeryBig") like the 130.00, 1.5000, 1.4500. Regular RNs are 131.00, 1.4800 or 1.4200.
Indicators show the past. Price Action "Indicates" the future.
  • #65,052
  • May 28, 2010 12:25am May 28, 2010 12:25am
Quoting jarroo
The "B" stands for "Big" or "Bold" round numbers (also known as a "VeryBig") like the 130.00, 1.5000, 1.4500. Regular RNs are 131.00, 1.4800 or 1.4200.
I see. Thanks.

If there is a 2 pips difference between the highs, could we still consider it as a DBHLC? The high on the first bar is 0.7324 and the high on the second bar is 0.7322.

I found this on the NZDUSD pair (monthly) chart attached.

Any comments or inputs are welcome.

Thanks.
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  • #65,053
  • May 28, 2010 12:29am May 28, 2010 12:29am
Quoting bun888
I see. Thanks.

If there is a 2 pips difference between the highs, could we still consider it as a DBHLC? The high on the first bar is 0.7324 and the high on the second bar is 0.7322.

I found this on the NZDUSD pair (monthly) chart attached.

Any comments or inputs are welcome.

Thanks.

I would consider it a DBHLC if it closes that way which I think it will. Its not at swing high like that PB a few bars over, but it has potential.
Indicators show the past. Price Action "Indicates" the future.
  • #65,054
  • May 28, 2010 1:45am May 28, 2010 1:45am
Quoting jarroo
I would consider it a DBHLC if it closes that way which I think it will. Its not at swing high like that PB a few bars over, but it has potential.
We have Monthly PPZ, 50 & 38.2 fibo confluence with BRN.

Don't like the look of those high bars like needle mountain.

Maybe the Daily candle will end up as a Bearish PB right off the 365, for some action next week?
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  • #65,055
  • Edited 2:24am May 28, 2010 2:12am | Edited 2:24am
Quoting Pinbar
We have Monthly PPZ, 50 & 38.2 fibo confluence with BRN.

Don't like the look of those high bars like needle mountain.

Maybe the Daily candle will end up as a Bearish PB right off the 365, for some action next week?
What do you think of the Weekly bullish PB, Pb? That's if it closes as a PB and above the .6800.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,056
  • May 28, 2010 2:21am May 28, 2010 2:21am
Quoting jarroo
What do you think of the Weekly bullish PB, Pb? That's if it closes as a PB and above the .6800.
Pick any low for fib confluence, but the main confluence is always with the PPZ level(s).
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Indicators show the past. Price Action "Indicates" the future.
  • #65,057
  • May 28, 2010 2:33am May 28, 2010 2:33am
Quoting jarroo
Pick any low for fib confluence, but the main confluence is always with the PPZ level(s).
Indeed Jarroo

It looks much better as a possible bullish setup.
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  • #65,058
  • May 28, 2010 2:42am May 28, 2010 2:42am
Quoting Pinbar
Indeed Jarroo

It looks much better as a possible bullish setup.

Well have to see how it closes today. Would like it more if the swing low was deeper . . say at the .6500 ( that's for Mike). It sure is respecting the .6800 as shown on your Daily and 4 hour chart. We'll have to wait and see at week's end.
Indicators show the past. Price Action "Indicates" the future.
  • #65,059
  • May 28, 2010 2:55am May 28, 2010 2:55am
Sure looks interesting on the Weekly.
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  • #65,060
  • Edited 3:14am May 28, 2010 3:02am | Edited 3:14am
Quoting Dan Gilbert
Are you saying full profit take at 131.55? Is that what you mean?
Yes, at the 131.55(131.37) because its against the trend . .take profits at or before the 1st obvious target. You can see how it reacted at that level.

Or just let it ride and see what happens . .you got nothing to lose.

I made a mistake on my chart 130.55 should be 131.55. I'll correct it.

Edit : actually it should be 131.37 which is that Daily High on my chart. But my take profit would have been taken earlier then that . . more like 131.30 or 131.27. (geez i must need some sleep. lol)
Indicators show the past. Price Action "Indicates" the future.
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