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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

  • #66,921
  • Jun 22, 2010 3:19am Jun 22, 2010 3:19am
Quoting jarroo
I was thinking the same thing . . lol

Is there a "PPZ" out there.

I am sure there will be very soon after you posted that. LoL
  • #66,922
  • Jun 22, 2010 3:25am Jun 22, 2010 3:25am
Quoting Pinbar
I am sure there will be very soon after you posted that. LoL
"Confluence" would be great one. lol
Indicators show the past. Price Action "Indicates" the future.
  • #66,923
  • Jun 22, 2010 3:39am Jun 22, 2010 3:39am
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BEOB on EU and BUOB on UC, but UC looks more inviting. Supported by VBRN, large space, less traffic, trend continuation. Looks like a viable low-risk entry on BUOB's high with FTA on 1.1176.
  • #66,924
  • Jun 22, 2010 3:46am Jun 22, 2010 3:46am
Quoting fxeturn

BEOB on EU and BUOB on UC, but UC looks more inviting. Supported by VBRN, large space, less traffic, trend continuation. Looks like a viable low-risk entry on BUOB's high with FTA on 1.1176.
EU BEOB already broke, that's a good sign.
Indicators show the past. Price Action "Indicates" the future.
  • #66,925
  • Jun 22, 2010 3:56am Jun 22, 2010 3:56am
Quoting jarroo
EU BEOB already broke, that's a good sign.
I'm still looking though. It looks like it's heading for a retest, although 1.23 looks real strong with all the traffic.

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  • #66,926
  • Jun 22, 2010 3:59am Jun 22, 2010 3:59am
Quoting fxeturn
I'm still looking though. It looks like it's heading for a retest, although 1.23 looks real strong with all the traffic.
Definitely not a hard break there . . .not good. GU working nice. . . .so far.
Indicators show the past. Price Action "Indicates" the future.
  • #66,927
  • Jun 22, 2010 4:24am Jun 22, 2010 4:24am
Quoting Dan-FX
That's what I thought. I looked at it and couldn't see the logic of a long under the BRN and wondered what I'm not seeing?
This is not picking on people and I have not been at this game long but I am seeing bars called pin bars when they are not.

A true pin bar has its body inside the left nose.
Quite often bars have been called pin bars when this is not the case.
A good part of the body in this case is outside the previous bar.

I myself struggle with the basis of the inverted pin bar. For example before reading about IPB's in a bearish trend if I saw a bar with a long wick pointing up I thought that there had been an attempt to push price up but the bears are in overall control and so price was pushed back down again.
Like many things you can look at it in another way. If the bears were in such control how come the bulls pushed the price up so much in the first place. Bears getting tired...
  • #66,928
  • Jun 22, 2010 4:29am Jun 22, 2010 4:29am
Quoting jarroo
Definitely not a hard break there . . .not good. GU working nice. . . .so far.

Welcome to PA in traffic. I like its chances of hitting its 1st target(s), previous bar Lows. Swing highs are good . .swing highs with limited traffic are better.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,929
  • Jun 22, 2010 4:31am Jun 22, 2010 4:31am
Quoting jarroo
Welcome to PA in traffic. I like its chances of hitting its 1st target(s), previous bar Lows. Swing highs are good . .swing highs with limited traffic are better.

GU BEOB,
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Indicators show the past. Price Action "Indicates" the future.
  • #66,930
  • Jun 22, 2010 4:34am Jun 22, 2010 4:34am
Quoting jarroo
EU BEOB already broke, that's a good sign.
Jarroo - on my chart there is a Monday bearish outside bar.

It is a BEOB because it is bearish and it entirely envelopes the previous bar but this is a Sunday bar which is a miniature effort.
It does not envelope the Friday bar on my chart.

This is a general question - Is a BEOB reliable in such cases?

The Monday bar is a big thing and would envelope previous bars in many cases on this chart.
Price has broken down through the trend line and is carrying down. (Ignoring fundamentals, as I said previously I can't see fundamental reasons for the Euro to appreciate) Is the reason for the fall from a chartist point of view that it has broken down through a trend line rather than it being a BEOB?

What I am really saying I would be hard pushed to say this is a full blooded BEOB but I would take notice of the break of the trendline.
  • #66,931
  • Jun 22, 2010 4:38am Jun 22, 2010 4:38am
Quoting six gun
Jarroo - on my chart there is a Monday bearish outside bar.

It is a BEOB because it is bearish and it entirely envelopes the previous bar but this is a Sunday bar which is a miniature effort.
It does not envelope the Friday bar on my chart.

This is a general question - Is a BEOB reliable in such cases?

The Monday bar is a big thing and would envelope previous bars in many cases on this chart.
Price has broken down through the trend line and is carrying down. (Ignoring fundamentals, as I said previously I can't see fundamental reasons for the...
FzPro doesn't have Sunday bars on there Daily, that is Friday's bar.

IBFX has Sunday Bars here's a chart.

Breaking the trendline is an added confluence (or confirmation) along with the BEOB at a swing, PPZ , etc
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Indicators show the past. Price Action "Indicates" the future.
  • #66,932
  • Jun 22, 2010 4:43am Jun 22, 2010 4:43am
Quoting six gun
Jarroo - on my chart there is a Monday bearish outside bar.

It is a BEOB because it is bearish and it entirely envelopes the previous bar but this is a Sunday bar which is a miniature effort.
It does not envelope the Friday bar on my chart.

This is a general question - Is a BEOB reliable in such cases?

The Monday bar is a big thing and would envelope previous bars in many cases on this chart.
Price has broken down through the trend line and is carrying down. (Ignoring fundamentals, as I said previously I can't see fundamental reasons for the...

I'm not a big fan of fundamentals but I do read the paper. lol


Sorry, we ignore Sunday bars.
Indicators show the past. Price Action "Indicates" the future.
  • #66,933
  • Jun 22, 2010 4:47am Jun 22, 2010 4:47am
Quoting jarroo
Welcome to PA in traffic. I like its chances of hitting its 1st target(s), previous bar Lows. Swing highs are good . .swing highs with limited traffic are better.
Already dropped 36 pips in the last 46 minutes... the possibility is high now.
  • #66,934
  • Jun 22, 2010 4:51am Jun 22, 2010 4:51am
Quoting fxeturn
Already dropped 36 pips in the last 46 minutes... the possibility is high now.

Hard breaks are more likely to happen when they are at Swing high with no traffic. lol Although they do also hard break in these situation as well.

But a lot of times that have to find there path through the traffic, all other PA criteria being equal..
Indicators show the past. Price Action "Indicates" the future.
  • #66,935
  • Jun 22, 2010 4:56am Jun 22, 2010 4:56am
Quoting jarroo
This is what we look for is a A+ setup, in my book.

I'll take these all day long.

Its a BEOB not a Pin Bar but it looks like one . . .I love that.

Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.

I like it aserbfx . . .to say the least. . . .

I wonder what this DJIA30 chart is going to look like today.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,936
  • Jun 22, 2010 4:59am Jun 22, 2010 4:59am
Quoting jarroo
I'm not a big fan of fundamentals but I do read the paper. lol


Sorry, we ignore Sunday bars.
I think you will see my drift from my GMT +1 chart.

Ignoring the Sunday bar, which GFT do have, this is not a BEOB.

The majority of trading comes out of the London session and out of London.
What is happening in London shapes the market.

London time is GMT+1 at the moment but lets say they carry on with GMT in the City.
I don't know what times the big boys on Canary Wharf in the City actually use but chances are it is based on GMT.
They won't be seeing a BEOB.

Now the reason it is a bearish bar is something else but we are recognising this change in sentiment by the bearish outside bar. In the UK there is no BEOB.

PS - that bearish pin bar on the Dow is a nice pin bar. I am bearish on the stock markets. Bankrupt economies cannot sustain a high stock market. I'm sure that must be somewhere in the newspapers!
It is at the 50% fib - this is the one the big boys are said to favour and it sits behind a BRN -
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  • #66,937
  • Jun 22, 2010 5:02am Jun 22, 2010 5:02am
Quoting six gun
I think you will see my drift from my GMT +1 chart.

Ignoring the Sunday bar, which GFT do have, this is not a BEOB.

The majority of trading comes out of the London session and out of London.
What is happening in London shapes the market.

London time is GMT+1 at the moment but lets say they carry on with GMT in the City.
I don't know what times the big boys on Canary Wharf in the City actually use but chances are it is based on GMT.
They won't be seeing a BEOB.

Now the reason it is a bearish bar is something else but we are recognising this...

Oh . .I see now. Yeah that doesn't qualify. I would stick to New York time if you can.
Indicators show the past. Price Action "Indicates" the future.
  • #66,938
  • Jun 22, 2010 5:06am Jun 22, 2010 5:06am
Quoting six gun
PS - that bearish pin bar on the Dow is a nice pin bar. I am bearish on the stock markets. Bankrupt economies cannot sustain a high stock market. I'm sure that must be somewhere in the newspapers!
Its right on the front pages. lol
Indicators show the past. Price Action "Indicates" the future.
  • #66,939
  • Jun 22, 2010 5:10am Jun 22, 2010 5:10am
Break of 2IB and retest, confluencing with TL and weekly ppz. resistance stays resistance for now.
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  • #66,940
  • Edited 6:24am Jun 22, 2010 5:12am | Edited 6:24am
Quoting datogio
Break of 2IB and retest, confluencing with TL and weekly ppz. resistance stays resistance for now.

I'm going to start calling you Rac-datogio-zek

Very nice.
Indicators show the past. Price Action "Indicates" the future.
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