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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

  • #68,861
  • Jul 16, 2010 2:30am Jul 16, 2010 2:30am
Hello traders, may I please ask.

Can these be considered as a two-bar Pinbars?
The lows are not equal, but open and close are 'near'.

Thanks.
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  • #68,862
  • Jul 16, 2010 2:36am Jul 16, 2010 2:36am
Quoting Adilius07
Hello traders, may I please ask.

Can these be considered as a two-bar Pinbars?
The lows are not equal, but open and close are 'near'.

Thanks.

Absolutely. Actually they would be BUOBs that look like PBs, one of my favorites. (blue line is the 150 ema)
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Indicators show the past. Price Action "Indicates" the future.
  • #68,863
  • Jul 16, 2010 2:37am Jul 16, 2010 2:37am
Quoting Adilius07
Hello traders, may I please ask.

Can these be considered as a two-bar Pinbars?
The lows are not equal, but open and close are 'near'.

Thanks.
yes they are. just imagine taking the open and low of the first bar and the high and close of the second. you get a green PB. =)
One Mind, Any Market
  • #68,864
  • Jul 16, 2010 2:40am Jul 16, 2010 2:40am
Quoting Adilius07
Hello traders, may I please ask.

Can these be considered as a two-bar Pinbars?
The lows are not equal, but open and close are 'near'.

Thanks.
Adilius07

They are very similar. The second two bar (railway track / tram line) is actually a fully formed PB on my feed while the other (the first) is a two bar as you have it.
In retrospect we learn. In perspective we earn.
  • #68,865
  • Jul 16, 2010 2:41am Jul 16, 2010 2:41am
Jarroo, Cyrus, Fx_Heaven thank you! I see now. Yes on 8hr looks so
I was at my computer in both those cases!!!
Ehh, how many opportunities I still miss
  • #68,866
  • Jul 16, 2010 2:41am Jul 16, 2010 2:41am
Quoting supremeChaos
Hello djmartymac,
try these 2 links.
Thanks SC that helped a lot. I got the one I needed - FXCM. I had opened about 10 demos today and went through the process of putting candle time on the 4h chart and couldnt get the last one! All sorted now,cheers buddy.
  • #68,867
  • Jul 16, 2010 2:42am Jul 16, 2010 2:42am
Quoting jarroo
Absolutely. Actually they would be BUOBs that look like PBs, one of my favorites. (blue line is the 150 ema)


Woooo, This is new to me.....How the heck do you work those out without switching to an 8 hour chart?
  • #68,868
  • Jul 16, 2010 2:46am Jul 16, 2010 2:46am
Quoting Adilius07
....
Can these be considered as a two-bar Pinbars? ...
to help (or confuse) u further, u can view it as an 'irregular' or 'incorrect' BUOB


Quoting jarroo
Absolutely. Actually they would be BUOBs that look like PBs, one of my favorites..
Quoting Cyrus
yes they are...
Quoting fx_heaven
...
They are very similar. The second two bar (railway track / tram line)...
  • #68,869
  • Jul 16, 2010 2:47am Jul 16, 2010 2:47am
Quoting Pinbar
Woooo, This is new to me.....How the heck do you work those out without switching to an 8 hour chart?

Visually . . like Adilius07 did is one way.
Indicators show the past. Price Action "Indicates" the future.
  • #68,870
  • Jul 16, 2010 2:50am Jul 16, 2010 2:50am
Quoting jarroo
Visually . . like Adilius07 did is one way.

Yes, I understand that, what I don't understand is the criteria for identifying them. LoL
  • #68,871
  • Jul 16, 2010 2:51am Jul 16, 2010 2:51am
Supreme, see I was looking at them both. But they both did not qualify as BUOB for me, because the bulish bar did not completely engulf the previous bar. So I skiped them. And only now I recalled that I read somewhere in the thread that there are 2-bar Pinbars next time I would not miss them!
  • #68,872
  • Jul 16, 2010 2:53am Jul 16, 2010 2:53am
Quoting Pinbar
Yes, I understand that, what I don't understand is the criteria for identifying them. LoL
What do you mean "criteria for indentifying"?
Indicators show the past. Price Action "Indicates" the future.
  • #68,873
  • Jul 16, 2010 2:58am Jul 16, 2010 2:58am
I mean, is it just a BUOB with the open and close at both ends and the open and close of the previous bar at both ends. sort of in the top and bottom two thirds of the bar?
  • #68,874
  • Jul 16, 2010 3:01am Jul 16, 2010 3:01am
Quoting Adilius07
Jarroo, Cyrus, Fx_Heaven thank you! I see now. Yes on 8hr looks so
I was at my computer in both those cases!!!
Ehh, how many opportunities I still miss
I missed my EURUSD long by 3pips yest before it rocketed off. Damn sore about that one... omg omg. =P
It happens mate.

Our ability is perfectly reflected by the market.... much room to grow still, least I do. =)
One Mind, Any Market
  • #68,875
  • Jul 16, 2010 3:04am Jul 16, 2010 3:04am
Quoting Pinbar
I mean, is it just a BUOB with the open and close at both ends and the open and close of the previous bar at both ends. sort of in the top and bottom two thirds of the bar?
Yep that's a combination PB, Pb. And since it engulfed the previous bar(s) its a BUOB that looks like a PB.
Indicators show the past. Price Action "Indicates" the future.
  • #68,876
  • Jul 16, 2010 3:06am Jul 16, 2010 3:06am
Quoting Adilius07
...So I skiped them. And only now I recalled that I read somewhere in the thread that there are 2-bar Pinbars ...!
there are also 3-bar, 5-bar Pinbars, etc.
but that gets harder to identify. it will also lead to over-analysis.
1-3 bar PBs are easier to spot, & we can stop there.

Quoting Pinbar
.., what I don't understand is the criteria for identifying them.
i'll try...
i think there is no set criteria.
u just try to merge 2 (or more bars) in your mind. like putting 2 clay (or legoor whatever) pieces & molding them into 1.
creative imagination/ visualization is vital here.
u can start looking for them at swing highs/lows. on higher timeframes, H1 & specially H4 & up, the swing highs/lows fairly often consists of about 2-5 bars. (if u drop down to lower timeframes, this 2-5 bars will now become +/-5-20... so it's easier to merge bars on higher TFs, specially when one is just starting out with this creative/visual voodoo)
  • #68,877
  • Jul 16, 2010 3:09am Jul 16, 2010 3:09am
Quoting supremeChaos
there are also 3-bar, 5-bar Pinbars, etc.
but that gets harder to identify. it will also lead to over-analysis.
1-3 bar PBs are easier, & we can stop there.


i'll try...
i think there is no set criteria.
u just try to merge 2 (or more bars) in your mind. like putting 2 clay (or legoor whatever) pieces & molding them into 1.
creative imagination/ visualization is vital here.
u can start looking for them at swing highs/lows. on higher timeframes, H1 & specially H4 & up, the swing highs/lows fairly often consists of about 2-5 bars. (if u drop down...

Thanks SC, this is totally new to me.
Maybe best to leave it on a back burner for the time being.
  • #68,878
  • Jul 16, 2010 3:10am Jul 16, 2010 3:10am
I got this waaaaay back.

They ALL merge into pinbars =)
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File Type: pdf J16 PA Setups.pdf   45 KB | 1,892 downloads
One Mind, Any Market
  • #68,879
  • Jul 16, 2010 3:13am Jul 16, 2010 3:13am
RE merging bars; It's important to remember to aggregate the previous bars too, as this can validate/invalidate BEOB's and BUOB's

If in doubt use the Period Converter
  • #68,880
  • Jul 16, 2010 3:20am Jul 16, 2010 3:20am
Quoting Pinbar
Thanks Jarroo

Just trying to get keep my mind on the PPZ.
With the LO I wondered if anyone was going to answer this person.

Maybe it is starting to sink in a bit. Only a bit though, that is why I want to fix it in my mind ASAP.


Looking at the USD CAD I took on demo, the H1 looks like it is going to test the upper range on H1.

Let's see if this upper ranging area holds & if the 365 acts as support.

Has the look of that N like shape we often see as compression before a breakout. Famous last words? LoL

Looks like that box is holding up nicely Pb. The 365 ema confluencing with the PPZ level can add strength. The 1.0380 is alo a Daily PPZ level which helps.
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Indicators show the past. Price Action "Indicates" the future.
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