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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

  • #67,461
  • Edited 11:13pm Jun 25, 2010 10:50pm | Edited 11:13pm
Thanks Jarroo, Yes, it all seems to boil down to waiting.

I shall learn this virtue ASAP.

In the meantime, I have a question about the 365 & 150 EMA.

The left chart is mine and shows the EUR/USD from Daily from Dec 30th 2006 and you can see that my 150 EMA is set to exponential close.

Now, the right chart is James 16 but we can see that the PA is bouncing off of the 150 EMA. Is there a reason that my EMA and James16's EMA are not the same? I thought these EMA are to be set at exponential and on the close, but obviously this is not the case in this chart.

This looks to be the 125 EMA on close. Have I missed something here or does James also use the 125 EMA?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 125.jpg Size: 190 KB
  • #67,462
  • Jun 25, 2010 11:10pm Jun 25, 2010 11:10pm
Attached is GBPCAD Weekly chart. It is technically BUOB since the low of this candle is low from the left candle.

Pros:

1. Not at absolute swing low, but at swing low
2. Bar size is good in relative to other bars
3. Engulfed 4 previous bars
4. started off at 1.5(BRN) and closed at 1.56
5. Broke the consolidation of the last 10 bars

Cons:
1. Against order flow
2. No FIB retracement since it is against order flow
3. ??

Execution details:
1. Entry - after the break of BUOB - (1.5670 + .0010 = 1.5680)
2. SL , convenional - low of the bar - 1.5000 but I think (?) 1.5300 can also be SL (mentioned in the pic)
3. First FTA - Daily PPZ 1.5900
4. Second FTA - Weekly ppz 1.6260

Comments ?
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly -GBPCAD-06-25-2010.gif Size: 54 KB
  • #67,463
  • Edited Jun 26, 2010 12:11am Jun 25, 2010 11:17pm | Edited Jun 26, 2010 12:11am
Quoting Pinbar
Thanks Jarroo, Yes, it all seems to boil down to waiting.

I shall learn this virtue ASAP.

In the meantime, I have a question about the 365 & 150 EMA.

The left chart is mine and shows the EUR/USD from Daily from Dec 30th 2006 and you can see that my 150 EMA is set to exponential close.

Now, the right chart is James 16 but we can see that the PA is bouncing off of the 150 EMA. Is there a reason that my EMA and James16's EMA are not the same? I thought these EMA are to be set at exponential and on the close, but obviously this is not the case...
James16's chart is IBFX and you use FXDD. Two different brokers, with two different Closing times. Both EMAs are set at the Close, and both brokers have different Closes so the EMAs are going to differ based on those different Closing times.

"I shall learn this virtue ASAP." I don't know why that sounds so funny . . (jk)) lol
Indicators show the past. Price Action "Indicates" the future.
  • #67,464
  • Jun 25, 2010 11:25pm Jun 25, 2010 11:25pm
Quoting jarroo
The A+ setup examples seem to be rare as of late but when they do appear, then tend to really standout.

Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.


Update on this one. 3rd target Hit.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #67,465
  • Jun 25, 2010 11:47pm Jun 25, 2010 11:47pm
Quoting jarroo
James16's chart is IBFX and you use FXDD. Two different brokers, with two different Closing times. Both EMAs are set at the Close, and both brokers have different Closes so the EMAs are going to differ based on those different Closing times.

"I shall learn this virtue ASAP." I don't why that sounds so funny . . (jk)) lol

Ahh, I see my error now.

Yes, that does seem to be a rather contradictory statement. LOL
  • #67,466
  • Edited Jun 26, 2010 12:10am Jun 25, 2010 11:53pm | Edited Jun 26, 2010 12:10am
Quoting cprao
Attached is GBPCAD Weekly chart. It is technically BUOB since the low of this candle is low from the left candle.

Pros:

1. Not at absolute swing low, but at swing low
2. Bar size is good in relative to other bars
3. Engulfed 4 previous bars
4. started off at 1.5(BRN) and closed at 1.56
5. Broke the consolidation of the last 10 bars

Cons:
1. Against order flow
2. No FIB retracement since it is against order flow
3. ??

Execution details:
1. Entry - after the break of BUOB - (1.5670 + .0010 = 1.5680)
2. SL , convenional - low of the bar...
Not to bad, definitely not A+.

Not at a swing low but the consolidation is at a swing low, this is good. The consolidation (or base) may be enough to take it to at least your 1st target, Daily PPZ 1.5900.

Just be aware that if Price does break the BUOB that it may retest the consolidation or the previous bar High of the BUOB.

Edit :oops that's where your alter S/L placement would be, previous bar High of the BUOB, well what do you know about that.

Should be fun to watch.
Indicators show the past. Price Action "Indicates" the future.
  • #67,467
  • Jun 26, 2010 12:00am Jun 26, 2010 12:00am
Quoting jarroo
.

Just be aware that if Price does break the BUOB that it may retest the consolidation or the previous bar low of the BUOB.
Thank you Jarroo.
Which previous bar low are you referring to ? Immediate to BUOB one ?
  • #67,468
  • Jun 26, 2010 12:05am Jun 26, 2010 12:05am
Quoting cprao
Thank you Jarroo.
Which previous bar low are you referring to ? Immediate to BUOB one ?

Yeah that's the one, which is where you were thinking to place it anyways.


edit: Previous bar HIGH of the BUOB
Indicators show the past. Price Action "Indicates" the future.
  • #67,469
  • Jun 26, 2010 12:07am Jun 26, 2010 12:07am
Quoting cprao
Thank you Jarroo.
Which previous bar HIGH are you referring to ? Immediate to BUOB one ?

My mistake . . my mistake . . previous bar HIGH . . sorry
Indicators show the past. Price Action "Indicates" the future.
  • #67,470
  • Jun 26, 2010 12:10am Jun 26, 2010 12:10am
Quoting jarroo
My mistake . . my mistake . . previous bar HIGH . . sorry
No problem at all.

Ok. Got you.. which is around 1.5300 ..

Immediate previous bar low is around 1.5000.
  • #67,471
  • Jun 26, 2010 12:12am Jun 26, 2010 12:12am
Quoting Pinbar
Ahh, I see my error now.

Yes, that does seem to be a rather contradictory statement. LOL

I thought it was great, Pb. I understood what you meant.
Indicators show the past. Price Action "Indicates" the future.
  • #67,472
  • Jun 26, 2010 12:27am Jun 26, 2010 12:27am
Talking about mistakes....I must be downright crazy, blind, stupid or all three.

Why could I not see a PB on the daily like this one, notice the area it came off, put a fibo on it and take the damn thing?

Or even the BEOB before it after the PPZ broke. Aghghhhhhh^%@^%$^@(@&($@&(&(@$&(*@$&(@$
Attached Image (click to enlarge)
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  • #67,473
  • Jun 26, 2010 12:29am Jun 26, 2010 12:29am
Quoting cprao
No problem at all.

Ok. Got you.. which is around 1.5300 ..

Immediate previous bar low is around 1.5000.

Its a good rule of thumb on Outside Bars. Which is that they will retrace to their prievious bar High/Low.

Look at the Monthly Nzd/JPY.

Price is in a consolidation yet the BUOB and BEOB retrace back to their previous bar High or Low.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: beob.gif Size: 20 KB
Indicators show the past. Price Action "Indicates" the future.
  • #67,474
  • Jun 26, 2010 12:34am Jun 26, 2010 12:34am
Quoting jarroo
Its a good rule of thumb on Outside Bars. Which is that they will retrace to their prievious bar High/Low.

Look at the Monthly Nzd/JPY.

Price is in a consolidation yet the BUOB and BEOB retrace back to their previous bar High or Low.
Thanks Jarroo that is a really good one to know.
  • #67,475
  • Jun 26, 2010 12:39am Jun 26, 2010 12:39am
Quoting Pinbar
Talking about mistakes....I must be downright crazy, blind, stupid or all three.

Why could I not see a PB on the daily like this one, notice the area it came off, put a fibo on it and take the damn thing?

Or even the BEOB before it after the PPZ broke. Aghghhhhhh^%@^%$^@(@&($@&(&(@$&(*@$&(@$

Easy buddy . .lol. Its not the Fib that did it, its what that fib lined up with that did it. Also a nice example of . .Support . . . Price breaking Support . . .then turning into Resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #67,476
  • Jun 26, 2010 12:41am Jun 26, 2010 12:41am
Quoting Pinbar
Thanks Jarroo that is a really good one to know.

Got that one from James16 somewhere in this thread. lol


later gotta go.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #67,477
  • Jun 26, 2010 12:46am Jun 26, 2010 12:46am
Quoting jarroo
Got that one from James16 somewhere in this thread. lol


later gotta go.

Jim

Yeah, go spend some of those Hard earned pips Jarroo and have a good time on the weekend.

Appreciate the input.
  • #67,478
  • Jun 26, 2010 5:12am Jun 26, 2010 5:12am
Quoting jarroo
Its a good rule of thumb on Outside Bars. Which is that they will retrace to their prievious bar High/Low.

Price is in a consolidation yet the BUOB and BEOB retrace back to their previous bar High or Low.
Jarroo,
Makes alot of sense....here is a trade I took yesterday 8h BEOB with the retrace that you talk about.
Thanks for pointing this out. I have also noticed this but needed to hear this.
Bill
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  • #67,479
  • Jun 26, 2010 5:34am Jun 26, 2010 5:34am
Here's an example of a nice PB off BRN with divergence

I just don't like alot of things about it
consolidation above---
big down move strong trend down
other higher time frame charts really don't support it!

What do think?
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  • #67,480
  • Jun 26, 2010 6:54am Jun 26, 2010 6:54am
Quoting Atc
I am taking a fondness to this weekly IPB chf/jpy

short off RN
off 61.8
off PPZ

cons--bub (but look at those monster down bars several weeks ago, gap over the wknd...can i get in where it closed or is it to doji like for you taste?
First I would second Mike that it really is just an Indecision bar, which may not be enough of an indication of momentum exhaustion.

Secondly what I see first hand on my chart is that this IPB/indecision bar is near that all important location rather than on it, which straight away makes the setup an invalid one for me.

The fibs also need to be off distinct and really obvious swings in the market than just a bar high which you used.

With all that in the mind the real confluence zone is still about 60 pips away from your bar high,

g.
Attached Image (click to enlarge)
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I believe . . .
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