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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

  • #70,021
  • Jul 28, 2010 7:06pm Jul 28, 2010 7:06pm
Quoting fx_heaven
Hey True777,

Confirmation yes, but I also got a much tighter entry (trigger to stop/loss).

Blending time frames will always present you with a much clearer view of what is going on, giving you extra confirmation signals as you say and offering you opportunities to reduce your risk, but timing and patience plays a big part.

The DBLHC allowed me to take the PB break but reduce my stop / loss significantly....
MUCH smaller stop loss! I wasn't even thinking about that! Because you're stop would now be below the dblhc that formed on the 1hr instead of 175 pips farther south all the way below the daily pb....beautiful!
  • #70,022
  • Jul 28, 2010 8:02pm Jul 28, 2010 8:02pm
I'm pretty inexperienced at trading gaps. Any thoughts on the audnzd gap here?
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  • #70,023
  • Jul 28, 2010 8:08pm Jul 28, 2010 8:08pm
Quoting forexben
I'm pretty inexperienced at trading gaps. Any thoughts on the audnzd gap here?
Hey Ben

THe forex markets really don't gap during the week as they are too liquid. That is more just either a bad feed, or broker couldn't keep up with the fast market. It still might mean price wants to close that area where there was a former big move coming off. But I would not treat this as a traditional gap that you might hear in this thread.

Best
Mike
  • #70,024
  • Jul 28, 2010 8:23pm Jul 28, 2010 8:23pm
Not quite sure what you call this pattern, it's like some weird reverse H & S. The matching lows and the PPZ are interesting.
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  • #70,025
  • Jul 28, 2010 8:28pm Jul 28, 2010 8:28pm
just browsing some markets

who caught this simple one. Can't get easier then that one
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  • #70,026
  • Jul 28, 2010 8:36pm Jul 28, 2010 8:36pm
Quoting supremeChaos
free webinars here.

based on your posts, u certainly need to do a lot of reading, Sir. (i have posted that link AT LEAST 3-5 times very recently)

this is an amazingly FREE thread. take advantage of it.
I've read these all a couple times, but I will continue to read them over and over for they are pure gold. In Mike's post I thought he had done a recent webinar that I may have missed.
  • #70,027
  • Jul 28, 2010 8:48pm Jul 28, 2010 8:48pm
Quoting oneuniverse
folks!

here is mouth watering chart of EU daily!

I4B on daily straddlle accross 1.3000

what other intresting observations are
1) this time I4B is a doji with yet another doji behind it!
2) RSI 6 div

On lower time frames
1) there is break of triangle

on the whole, the down break looks yummy! though the upside break can be played with low %risk!

Thank you Dan for these I4B's near BRN!

Winston
don't try to pick the way it will go bro.

I seriously have about a 10% accuracy rate at predicting which side price will break out! (no joke, my last i4b on USDCHF I predicted wrong too, but still took the trade the other way)

I just set my stop orders on both sides and let it do it's thing.
Many choose unhappiness over uncertainty.
  • #70,028
  • Jul 28, 2010 9:16pm Jul 28, 2010 9:16pm
Quoting mbqb11
just browsing some markets

who caught this simple one. Can't get easier then that one

Not that one, but I would certainly like to see similar PA at BRN 1.3500 on EURO.

It may take a few weeks, but that weekly PPZ looks like a good spot to get short. There's also fib confluence from the 7/13/08 high at 1.3500 too.
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  • #70,029
  • Jul 28, 2010 9:25pm Jul 28, 2010 9:25pm
Quoting Dan Gilbert
don't try to pick the way it will go bro.
I seriously have about a 10% accuracy rate...
Winston knows his thing, he's a genius like u, bro.

well, if u add confluence (like trend, S/R, Fib; i only got 4hrs sleep, cant think of anything else) for sure u will up your accuracy rate.
& i think it's too early to say that u have a low acc. rate. i know u are much better than that.
  • #70,030
  • Jul 28, 2010 10:08pm Jul 28, 2010 10:08pm
Quoting supremeChaos
Winston knows his thing, he's a genius like u, bro.

well, if u add confluence (like trend, S/R, Fib; i only got 4hrs sleep, cant think of anything else) for sure u will up your accuracy rate.
& i think it's too early to say that u have a low acc. rate. i know u are much better than that.
lol genius lmao!


as far as using more confluences to increase accuracy rate on predicting which direction an I4B will break, I don't see it. The up coming un-announced news and VBRN is what stills the market down into an inside bar, then the news release makes it shoot out one side or the other. But that is true of all price action.


honestly it's all irrelevant because risk management is where traders succeed as a trader lol. The more I understand that, the less I care about my "picks"


as you will see by my new line under my user name "retired predictor"
Many choose unhappiness over uncertainty.
  • #70,031
  • Jul 28, 2010 10:16pm Jul 28, 2010 10:16pm
looks like a potential triple bottom, that's what I see

jeurre

Quoting forexben
Not quite sure what you call this pattern, it's like some weird reverse H & S. The matching lows and the PPZ are interesting.
  • #70,032
  • Jul 28, 2010 10:18pm Jul 28, 2010 10:18pm
awesome, Dan!

aside from 1.3000 VBRN, another reason why we are at a pause, imho, is that we had a generous upmove since June. pauses/retracements are warranted & expected.

"retired predictor" huh?
well, 1 very good thing about that kind of mindset is u clear up your mind (u have no bias) & u can act accordingly/react quickly.
  • #70,033
  • Jul 28, 2010 10:21pm Jul 28, 2010 10:21pm
Hey guys,

What do you think of this BUOB setup?
Check signs indicate trouble areas.

CY
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  • #70,034
  • Jul 28, 2010 10:22pm Jul 28, 2010 10:22pm
Quoting ertorque
Hey guys,

What do you think of this BUOB setup?
Check signs indicate trouble areas.

CY
I think your check signs are perfectly placed CY
  • #70,035
  • Jul 28, 2010 10:23pm Jul 28, 2010 10:23pm
Quoting Dan Gilbert
don't try to pick the way it will go bro.

I seriously have about a 10% accuracy rate at predicting which side price will break out! (no joke, my last i4b on USDCHF I predicted wrong too, but still took the trade the other way)

I just set my stop orders on both sides and let it do it's thing.
Hello Dan, if you would set orders on both sides - you mean both sides of the Mother bar, not the inside bar, right? Thanks.

Oh, also, I just can't get it why do you call it I4B ? I see TWO inside bars, so it is I2B -sorry for such a stupid question, I just follow the thread and each time this thing is unclear. Thanks!
  • #70,036
  • Jul 28, 2010 10:25pm Jul 28, 2010 10:25pm
Quoting Adilius07
Hello Dan, if you would set orders on both sides - you mean both sides of the Mother bar, not the inside bar, right? Thanks.

Oh, also, I just can't get it why do you call it I4B ? I see TWO inside bars, so it is I2B -sorry for such a stupid question, I just follow the thread and each time this thing is unclear. Thanks!
hang on, I made a pic once to explain this, I'm gonna see if I can find it
Many choose unhappiness over uncertainty.
  • #70,037
  • Jul 28, 2010 10:27pm Jul 28, 2010 10:27pm
Quoting Dan Gilbert
hang on, I made a pic once to explain this, I'm gonna see if I can find it
ok cool I will wait thanks
  • #70,038
  • Jul 28, 2010 10:29pm Jul 28, 2010 10:29pm
Quoting Adilius07
ok cool I will wait thanks
here is some info while you wait

http://www.forexfactory.com/showpost...ostcount=59040

Mike
  • #70,039
  • Jul 28, 2010 10:29pm Jul 28, 2010 10:29pm
Quoting Dan Gilbert
hang on, I made a pic once to explain this, I'm gonna see if I can find it
here it is
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Many choose unhappiness over uncertainty.
  • #70,040
  • Jul 28, 2010 10:31pm Jul 28, 2010 10:31pm
Quoting mbqb11
here is some info while you wait

http://www.forexfactory.com/showpost...ostcount=59040

Mike
Thanks Mike, gonna read it right now.
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