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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

  • #69,021
  • Jul 18, 2010 3:09pm Jul 18, 2010 3:09pm
Quoting Bemac
Can one of you guys that do the Bar Accumulation thingy show me what a 2 1/2 MONTHLY {10x1weekly} EURUSD would look like?
Here you go Bemac
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  • #69,022
  • Jul 18, 2010 3:20pm Jul 18, 2010 3:20pm
Quoting benji533
Here you go Bemac
Thanks Ben. Different Data I suppose.
I was looking at this but wanted to see what size Bar the last 10 bar accumulation would look like in comparison to the rest of the Chart.
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  • #69,023
  • Jul 18, 2010 4:34pm Jul 18, 2010 4:34pm
Quoting Bemac
Thanks Ben. Different Data I suppose.
I was looking at this but wanted to see what size Bar the last 10 bar accumulation would look like in comparison to the rest of the Chart.
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Ohh...here, I think I got it right this time
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  • #69,024
  • Edited 4:55pm Jul 18, 2010 4:38pm | Edited 4:55pm
Quoting benji533
Ohh...here, I think I got it right this time
Hello Benji, Bemac.

Seriously we can also play this kind of setups (multi bar accumulation)???

Now looks veryyy promising!

How to rate this trade: more realiable (since much more bars accumulate it) or more risky instead?
  • #69,025
  • Jul 18, 2010 4:44pm Jul 18, 2010 4:44pm
Quoting jarroo
In the "Tabs Window", I will mistakenly hit the "Close" button thinking I'm closing the window. But what I'm doing is closing the pair that is selected. I should have hit "Cancel".

Jarroo

In this situation I go to FILE and use OPEN DELETED to get them back.

YodaPips
  • #69,026
  • Jul 18, 2010 4:55pm Jul 18, 2010 4:55pm
will be gap on nzdusd
  • #69,027
  • Jul 18, 2010 4:56pm Jul 18, 2010 4:56pm
And this one before was also a 7-week PinBar?
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  • #69,028
  • Jul 18, 2010 4:58pm Jul 18, 2010 4:58pm
Quoting Adilius07
Hello Benji, Bemac.

Seriously we can also play this kind of setups (multi bar accumulation)???

Now looks veryyy promising!

How to rate this trade: more realiable (since much more bars accumulate it) or more risky instead?
5min, 1h, 4h, daily, weekly..are they more reliable than 50min, 3h, and 2W just because MT4 supports them? IMO not. The real chart is the line chart where price is just flowing. Bars are just time periods you are chopping the flowing price into. That's why location is important more than anything else.
IMO every possible TFs are equally reliable.
So my answer is yes, you can play combined bars and even combine them anyway you want in order to generate more trade opportunities. That's what I am doing and it works great.

Regarding this specific pin bar. Not a one I would personally take, but if it fits your style then way not. I would say look for big bars at extremes and keep going from there though. That spechific pin is stuck in a lot of traffic.

Ben
  • #69,029
  • Jul 18, 2010 5:08pm Jul 18, 2010 5:08pm
Quoting Adilius07
And this one before was also a 7-week PinBar?
Hi Adilius, Caution here.
I wanted to have a look at it but not nescessarily to Trade.

Consider this:

Accumulating Bars, you will Always find Pins or BEOB or whatever you are looking for. It's Martingale with Bars instead of Coin.
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  • #69,030
  • Jul 18, 2010 5:10pm Jul 18, 2010 5:10pm
Quoting benji533
5min, 1h, 4h, daily, weekly..are they more reliable than 50min, 3h, and 2W just because MT4 supports them? IMO not. The real chart is the line chart where price is just flowing. Bars are just time periods you are chopping the flowing price into. That's why location is important more than anything else.
IMO every possible TFs are equally reliable.
So my answer is yes, you can play combined bars and even combine them anyway you want in order to generate more trade opportunities. That's what I am doing and it works great.

Regarding this specific pin...

Ben, sounds good. I will try to pay attention to those kinds of setups and see how they develop. One thing I afraid of is that I would begin to see Pinbars everywhere (twisting charts until I found one). Well anyway that would come from practice and experience. Thanks for reply.
  • #69,031
  • Jul 18, 2010 5:12pm Jul 18, 2010 5:12pm
Quoting Bemac
Hi Adilius, Caution here.
I wanted to have a look at it but not nescessarily to Trade.

Consider this:

Accumulating Bars, you will Always find Pins or BEOB or whatever you are looking for. It's Martingale with Bars instead of Coin.
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Yes Bemac, that is what Im afraid of. If I start looking for these setups I would just twist my charts until I see something LOL. For now I would stay with 4hr/Daily/Weekly.

It was just interesting to learn that there is in fact such a multi-dimensional structure of Pinbars! If I can say so.
  • #69,032
  • Jul 18, 2010 5:15pm Jul 18, 2010 5:15pm
Hello!

Hmmm... what about GBPUSD?

+ it seems like a nic IB or 2D PB.
+ Fibo also applies.
+ nice pivot zone
+ round numbers (1.5300)

The only reason not to take it (for me) is that it seems to be against the trend.

Any ideas/advices?
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  • #69,033
  • Jul 18, 2010 5:26pm Jul 18, 2010 5:26pm
Quoting Publius
Hello!

Hmmm... what about GBPUSD?

+ it seems like a nic IB or 2D PB.
+ Fibo also applies.
+ nice pivot zone
+ round numbers (1.5300)

The only reason not to take it (for me) is that it seems to be against the trend.

Any ideas/advices?
Here we have a big bearish 2 day pin bar.
Thinking about it - and it may have been mentioned several times in the thread this is what the DBHLC is about.

Combine the DBHLC bars and you get a bearish pin bar.
  • #69,034
  • Jul 18, 2010 6:05pm Jul 18, 2010 6:05pm
Quoting six gun
Here we have a big bearish 2 day pin bar.
Thinking about it - and it may have been mentioned several times in the thread this is what the DBHLC is about.

Combine the DBHLC bars and you get a bearish pin bar.
Hi. I don't think it is DBHLC. There is no even heights and no lower close. It is more IB for me Could anyone from "the crew" confirm it?
  • #69,035
  • Jul 18, 2010 6:06pm Jul 18, 2010 6:06pm
Quoting Publius
Hello!

Hmmm... what about GBPUSD?

+ it seems like a nic IB or 2D PB.
+ Fibo also applies.
+ nice pivot zone
+ round numbers (1.5300)

The only reason not to take it (for me) is that it seems to be against the trend.

Any ideas/advices?
If Friday bar closed below the Thursday bar, then it would have been considered as DBHLC or Pin bar.
  • #69,036
  • Jul 18, 2010 6:23pm Jul 18, 2010 6:23pm
Quoting Publius
Hi. I don't think it is DBHLC. There is no even heights and no lower close. It is more IB for me Could anyone from "the crew" confirm it?
Yes pub you are correct a DBHLC must have matching highs and the bar MUST close below the previous bars LOW

Mike
  • #69,037
  • Jul 18, 2010 6:31pm Jul 18, 2010 6:31pm
Quoting Publius
Hi. I don't think it is DBHLC. There is no even heights and no lower close. It is more IB for me Could anyone from "the crew" confirm it?
No it isn't a DBHLC. I didn't intend to suggest this.

But I notice that a number of posters have been combining bars.

It then occurred to me that on a daily chart, for example, a DBHLC would be a two day bearish candle.

That being the case a triple bar should be no more potent than a double bar.
The last two bars in a triple bar combination combine to create a pin bar with the first bar being superfluous to the process.
  • #69,038
  • Jul 18, 2010 7:12pm Jul 18, 2010 7:12pm
Quoting six gun
No it isn't a DBHLC. I didn't intend to suggest this.

But I notice that a number of posters have been combining bars.

It then occurred to me that on a daily chart, for example, a DBHLC would be a two day bearish candle.

That being the case a triple bar should be no more potent than a double bar.
The last two bars in a triple bar combination combine to create a pin bar with the first bar being superfluous to the process.
Sorry for the confusuion Guys.
I wanted to look at it because it was Almost a 1/4Year Bar. Nothing more than a Quarterly Report basically.

Please stick to Standard TFs unless;
1) you are doing some research.
2) you know what you are doing.

BMc
  • #69,039
  • Jul 18, 2010 7:13pm Jul 18, 2010 7:13pm
Weekly working out good so far. Closed 50% at +30 and moved to BE....
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  • #69,040
  • Jul 18, 2010 7:34pm Jul 18, 2010 7:34pm
Quoting Geofract
Hi to everyone, I hope you don't mind if I join your thread.

Just wanted to instroduce myself, and post a little setup I quite like.

You all have a great thread here btw, with a very friendly manner - very refreshing

I've been trying to trade for about 2 years with mixed results. In the last six months I've started trading PB's, etc, and things have definately improved. Still lots to learn though I'm still working my way through the thread, so apolologies if this setup doesn't quite fit the bill... well, anyway, a sanity check from those...
Hey Ollie. Welcome.

Friday's bar is not a BEOB. BEOBs have to engulf the entire previous bar(s) like the ones I have marked in blue. Looking for previous PPZ levels as targets is a good thing. But we look for the previous high/low, RNs, of the setup for short term targets or First Area of Trouble.


If the recent move down looks corrective then wouldn't you be looking to go long? It would agree with you trendline break. The recent trend is up and the 82.50 PPZ level may be a good area to look for bullish PA.


Just some thoughts. Welcome again.


Jim
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Indicators show the past. Price Action "Indicates" the future.
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