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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

  • #65,501
  • Jun 4, 2010 2:38am Jun 4, 2010 2:38am
Jarroo


I seem to be liking option 4 more and more.

Here are the options and how, I would like to think, I would approach them given retrospect.
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  • #65,502
  • Jun 4, 2010 2:44am Jun 4, 2010 2:44am
Quoting jeurre
more than making sense, jarroo, as long as jarroo says it, i take it as part of my bible, serious ! coz it makes money, period, paragraph

how much weight this style plays in your recent tradings? i guess it is situational depandent ? or would you mostly follow through this approach in future? thanks

jeurre
Easy pal. I would take my word as bible. lol. Far from it. I just go about my trading stlye that works for me. A lot of back testing and alot of demo.

Seeing where Price closes as it relates to a Price Action setup is important. Like a BEOB that engulfs many bars. Its important that the close of that BEOB closes below the bars that it engulfs, etc.

As for non-PA bars to where and how they close . . . its interesting and I have looked into it but not much backtesting. Sometimes they work and sometimes they don't. The best qualifier is of course a high PA setup bar.
Indicators show the past. Price Action "Indicates" the future.
  • #65,503
  • Jun 4, 2010 2:50am Jun 4, 2010 2:50am
Quoting Pinbar
Jarroo


I seem to be liking option 4 more and more.

Here are the options and how, I would like to think, I would approach them given retrospect.
Both charts are related to the Daily IB correct?
Indicators show the past. Price Action "Indicates" the future.
  • #65,504
  • Jun 4, 2010 2:53am Jun 4, 2010 2:53am
i was thinking a combination of candlestick, it has the meaning of "attack" , actually another form of continuation, but, highly explicit expression of trader's action, you can see it in the chart. more preferrablely, the last bar of the combination should have been close higher than the circled one in your original chart

as al brooker says, close is close enough, so, it doesn't matter what happens in between the two large bar

i think, this add another strength to what you described, break though a level, and break though again, trade either the high or low of the large bars depanding on the direction of the breakout, in your case, it seems determined by the level. this has similar meaning though, only one slight difference, that is the attack combination only play as continuation, so the surrounding condition is an highly important consideration

cheers

jeurrre

Quoting jarroo
Thanks jeurre.

It is interesting to look at non-PA setup bars that closes above/below a given PPZ level and/or BRN.
Example, Price breaks through a level then breaks through it again . . and then take an entry at the High(or Low) of the bar that closed above (or below) that level.

If I'm making sense.
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  • #65,505
  • Jun 4, 2010 3:03am Jun 4, 2010 3:03am
Quoting jarroo
Both charts are related to the Daily IB correct?

Yes, that is correct.
  • #65,506
  • Jun 4, 2010 3:19am Jun 4, 2010 3:19am
Quoting Pinbar
Yes, that is correct.
Looks real good Pb.

Just be aware that the Daily IB had a lot of trafic. Those previous bar Highs (in blue) are very much in play. And to paraphrase James16 from "This is Critical" . . "we are aware that they are there".
As you can see how those previous Highs reacted on the Hourly chart on the initial move. So . .a lot of traffic . .move to break even quickly is not a bad option.

But your right, the strong target was the .6900 the Weekly PPZ level.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,507
  • Jun 4, 2010 3:24am Jun 4, 2010 3:24am
Quoting jarroo
Looks real good Pb.

Just be aware that the Daily IB had a lot of trafic. Those previous bar Highs (in blue) are very much in play. And to paraphrase James16 from "This is Critical" . . "we are aware that they are there".
As you can see how those previous Highs reacted on the Hourly chart on the initial move. So . .a lot of traffic . .move to break even quickly is not a bad option.

But your right, the strong target was the .6900 the Weekly PPZ level.

Thanks, Jarroo you gracious help and the weekly & daily charts are indeed starting to get the thought process working. Even if it is all after the fact.

Hit me with another one anytime...Please!!
  • #65,508
  • Jun 4, 2010 3:29am Jun 4, 2010 3:29am
Quoting Pinbar
Thanks, Jarroo you gracious help and the weekly & daily charts are indeed starting to get the thought process working. Even if it is all after the fact.

Hit me with another one anytime...Please!!
You got it buddy. . . now go backtest this with 200 A+ setups and take notes on all 4 options . . wait 5 options . . . . the free trade approach too.

(just kidding Pb. lol . . or am I . . . . . . .lol)


Your doing great.
Indicators show the past. Price Action "Indicates" the future.
  • #65,509
  • Jun 4, 2010 3:32am Jun 4, 2010 3:32am
Quoting g_j_hook@yah
...view on the 4h IBs that we have..??
....
possibly quiet market as a result of the approaching US Non Farm Payrolls data.
  • #65,510
  • Jun 4, 2010 3:37am Jun 4, 2010 3:37am
Quoting jarroo
You got it buddy. . . now go backtest this with 200 A+ setups and take notes on all 4 options . . wait 5 options . . . . the free trade approach too.

(just kidding Pb. lol . . or am I . . . . . . .lol)


Your doing great.
You are no doubt serious, and something like that is probably at least what it will take to get me on track.

Thanks again Jarroo and hoping you & indeed everyone else has a wonderful weekend. I shall also have a great weekend back testing with trading simulator.
  • #65,511
  • Jun 4, 2010 3:42am Jun 4, 2010 3:42am
What do you think guys of this potential break-down set up...i mean break down+pull back to test the Tl ??
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Patience is essential
  • #65,512
  • Jun 4, 2010 3:42am Jun 4, 2010 3:42am
Quoting Pinbar
You are no doubt serious, and something like that is probably at least what it will take to get me on track.

Thanks again Jarroo and hoping you & indeed everyone else has a wonderful weekend. I shall also have a great weekend back testing with trading simulator.

Your on the right path, Pb. You'll find the best setups are the easiest. If the setup becomes complicated its not a good setup at all.
Indicators show the past. Price Action "Indicates" the future.
  • #65,513
  • Jun 4, 2010 3:46am Jun 4, 2010 3:46am
Quoting benem
What do you think guys of this potential break-down set up...i mean break down+pull back to test the Tl ??

Classic Mike breakout + pullback with PA setup in the making.
Indicators show the past. Price Action "Indicates" the future.
  • #65,514
  • Jun 4, 2010 3:48am Jun 4, 2010 3:48am
Quoting joelcf
I'm glad you said that. It always spins me around when people say they spent 16 hours a day straight for a month 'studying charts'... yet they still lose. You are either exagerating, inefficient or just not cut out for trading.

Or a combination thereof.
Chart time is good.

There are set-ups I trade that come directly from knowing particular behaviours and their most likely outcomes in real time.
Bundy's status today: "Waiting..."
  • #65,515
  • Jun 4, 2010 3:49am Jun 4, 2010 3:49am
Quoting jarroo
Classic Mike breakout + pullback with PA setup in the making.
I was thinking to him....
Patience is essential
  • #65,516
  • Jun 4, 2010 3:50am Jun 4, 2010 3:50am
Quoting bundyraider

Chart time is good.

There are set-ups I trade that come directly from knowing particular behaviours and their most likely outcomes in real time.

Oddly . . . I find it relaxing.
Indicators show the past. Price Action "Indicates" the future.
  • #65,517
  • Jun 4, 2010 3:52am Jun 4, 2010 3:52am
Quoting benem
I was thinking to him....
Not a bad way to think.
Indicators show the past. Price Action "Indicates" the future.
  • #65,518
  • Jun 4, 2010 3:54am Jun 4, 2010 3:54am
Quoting benem
I was thinking to him....
...fixed.

Mike's a regular dream-boat you think?
Bundy's status today: "Waiting..."
  • #65,519
  • Jun 4, 2010 4:05am Jun 4, 2010 4:05am
Quoting bundyraider
...fixed.

Mike's a regular dream-boat you think?
You got a Man-crush bundy. lol
Indicators show the past. Price Action "Indicates" the future.
  • #65,520
  • Jun 4, 2010 4:32am Jun 4, 2010 4:32am
Quoting supremeChaos
possibly quiet market as a result of the approaching US Non Farm Payrolls data.
ahha, cheers. thats what i didnt like about it, it just didnt seem to have any momentum...looking at the 1h TF it looked like we were on a holiday or something...lol

jon
PATIENCE... DISCIPLINE
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