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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

  • #70,921
  • Aug 8, 2010 11:20pm Aug 8, 2010 11:20pm


Quoting supremeChaos
i understand u were pissed, Pinbar.
i think it must be the weekend. blame the weekend

but try to look at the brighter side...

imho, there was mainly a miscommunication. English is not Petar's main language (as is evident in his posts; kindly read below).
also, u have to understand that charts get 'recycled & reused' & posted in several other threads. i see that happen quite often -- with/without mention of/permission from the chart owner &/or the original post.




*****trying to change the subject....
Sir joel, where's breakout...
  • #70,922
  • Aug 8, 2010 11:24pm Aug 8, 2010 11:24pm
Quoting Pinbar
Yes, I was thinking PA around the 1.3300 area would be good but I was not getting married to it. And the 1.3500 area looks like the next possible area to lay in wait.

Yeah that 1.3500 looks good.

Price sure didnt hang around the 1.3000 nor the 1.2500 for very long. Uptrend is strong. Meaning Price hung around the 1.5000, 1.4500 and 1.3500 for a while, where at the 1.4000 it didn't stay that long and dropped hard.

Forget about the 1.2000 that was a hot potato . . it did stay long . . lol

Sorry I been viewing alot of Mike videos lately.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,923
  • Aug 8, 2010 11:27pm Aug 8, 2010 11:27pm
Quoting jarroo
Yeah that 1.3500 looks good.

Price sure didnt hang around the 1.3000 nor the 1.2500 for very long. Uptrend is strong. Meaning Price hung around the 1.5000, 1.4500 and 1.3500 for a while, where at the 1.4000 it didn't stay that long and dropped hard.

Forget about the 1.2000 that was a hot potato . . it did stay long . . lol

Sorry I been viewing alot of Mike videos lately.

That is an interesting aspect I have overlooked, how long PA hangs around, it adds the time dimension to things.

I think I will watch GU and do the same with the videos.


Thanks Jarroooooooooooooooooooooo!


EDIT: I wonder if Mike could groan and moan a bit more when making these videos, he makes it look TOO easy!

Come on Mike, a few Oh, eh, let me see now, Hmmms, may help. LoL
  • #70,924
  • Aug 8, 2010 11:33pm Aug 8, 2010 11:33pm
Quoting Pinbar
We don't need this rehashing SC.
I had forgotten about till you brought it up again. LoL
.....
i didnt mean to bring it up again.
i would just like to somehow 'balance the equation' & give u another viewpoint of what just transpired..

im currently thinking of PM'ing him, to see what's up. i must admit he went overboard by 'stoking the fire' instead of ending it after 2-3 posts.


back to regular programming...
btw, u handled it pretty well!
  • #70,925
  • Aug 8, 2010 11:38pm Aug 8, 2010 11:38pm
Quoting Pinbar
That is an interesting aspect I have overlooked, how long PA hangs around, it adds the time dimension to things.

I think I will watch GU and do the same with the videos.


Thanks Jarroooooooooooooooooooooo!

lol


Check out how Price blew through the 1.3000 on its way down (in Blue). That's strong downward momentum.

It went down so hard that it almost for got to kiss it goodbye. . . but it didn't forget . . it retraced back to the 1.3000 and kissed it with an 8 hour PB. . .

I would like to see another kiss at the 1.3000 but this time on the way up. . . meaning a retrace back down to the 1.3000 with some nice Bullish PA.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,926
  • Aug 8, 2010 11:47pm Aug 8, 2010 11:47pm
Quoting mbqb11
... We may get a possible short on the 1hr/4hr, then price retraces and the uptrend kicks back in and the price breaks through the 1.6 and pulls back...
how many orders are sitting&waiting at 1.6000
  • #70,927
  • Aug 8, 2010 11:49pm Aug 8, 2010 11:49pm
Quoting Pinbar
EDIT: I wonder if Mike could groan and moan a bit more when making these videos, he makes it look TOO easy!

Come on Mike, a few Oh, eh, let me see now, Hmmms, may help. LoL

lol Mike doesn't have to moan or goan because it can be that easy Pb. It just takes time . . .just keep at it brother . .the obvious ones will show themselves.
Indicators show the past. Price Action "Indicates" the future.
  • #70,928
  • Aug 8, 2010 11:53pm Aug 8, 2010 11:53pm
Greetings to all,

Thanks for this wonderful thread, I was reading the summary by Jduester over the weekend and really enjoyed it.

Just got a quick question regarding buovb & dblhc (both bullish) and beovb & dbhlc (both bearish). Besides matching lows/highs for the db, are there any more differences (eg. strength? one for reversals (db) and another for continuation(ovb)? The PA Short Summary doc shows the buovb/beovb as 'trend continuation breakout', but I thought technical analysis books typically show outside bars was a signal of exhaustion for a reversal)?
"Instead of hoping he must fear; instead of fearing he must hope."
  • #70,929
  • Aug 8, 2010 11:55pm Aug 8, 2010 11:55pm
Quoting jarroo
lol Mike doesn't have to moan or goan because it can be that easy Pb. It just takes time . . .just keep at it brother . .the obvious ones will show themselves.

Yes, I am sure that is the case, once we attune ourselves to it.

Possibly naked chart eyeballing is a good therapy.


Thanks for the input on the retrace, certainly a nice pair to study and learn from around this area.
  • #70,930
  • Aug 8, 2010 11:58pm Aug 8, 2010 11:58pm
Quoting supremeChaos
i didnt mean to bring it up again.
i would just like to somehow 'balance the equation' & give u another viewpoint of what just transpired..

im currently thinking of PM'ing him, to see what's up. i must admit he went overboard by 'stoking the fire' instead of ending it after 2-3 posts.


back to regular programming...
btw, u handled it pretty well!


Not so sure I did....I should really have just ignored it but, I wasn't brought up like that.

Perhaps, I was able to tone it down a little due to the harmonic thread we have here and indeed the example that others show.
  • #70,931
  • Aug 9, 2010 12:18am Aug 9, 2010 12:18am
Anyone think this pair with be worth a few pips today?

Converging nicely into a tight bottleneck and support holding.

How do you post charts?
  • #70,932
  • Edited 12:36am Aug 9, 2010 12:23am | Edited 12:36am
Quoting Jliuuu
Greetings to all,

Thanks for this wonderful thread, I was reading the summary by Jduester over the weekend and really enjoyed it.

Just got a quick question regarding buovb & dblhc (both bullish) and beovb & dbhlc (both bearish). Besides matching lows/highs for the db, are there any more differences (eg. strength? one for reversals (db) and another for continuation(ovb)? The PA Short Summary doc shows the buovb/beovb as 'trend continuation breakout', but I thought technical analysis books typically show outside bars was a signal of exhaustion...
I don't think there are any differences between the two as far a continuation setups go. What the technical analysis books fail to show is the location as the key factor. Meaning PPZ levels, Support turning into Resistance and vice versa, etc. Seems to me there just talking about the pattern itself and we know its more about the Location.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,933
  • Aug 9, 2010 12:27am Aug 9, 2010 12:27am
Check this one out guys, it's a demo trade on FXCM's trading station platform... Anyways, it's a pic of a 4 hour time frame and im going short... Anyone think I'll stop out before I TP?

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Keep it simple stupid
  • #70,934
  • Aug 9, 2010 1:09am Aug 9, 2010 1:09am
Quoting Novak
Check this one out guys, it's a demo trade on FXCM's trading station platform... Anyways, it's a pic of a 4 hour time frame and im going short... Anyone think I'll stop out before I TP?

Attachment

Daily chart appears to be on the up
  • #70,935
  • Edited 12:43pm Aug 9, 2010 1:25am | Edited 12:43pm
Quoting Novak
Check this one out guys, it's a demo trade on FXCM's trading station platform... Anyways, it's a pic of a 4 hour time frame and im going short... Anyone think I'll stop out before I TP?
I don't like the odds of it hitting your TP . . . small PB, not at swing High not at any obvious higher time frame PPZ level. and you didn't wait for the break.
Indicators show the past. Price Action "Indicates" the future.
  • #70,936
  • Aug 9, 2010 1:27am Aug 9, 2010 1:27am
Quoting Novak
Check this one out guys, it's a demo trade on FXCM's trading station platform... Anyways, it's a pic of a 4 hour time frame and im going short... Anyone think I'll stop out before I TP?

Attachment
It always helps to keep an eye on the higher time frames - they rule!

Here's an elaboration of what I am looking at.

You've got to be extra careful in a market that's chopping around mad.

g.
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I believe . . .
  • #70,937
  • Aug 9, 2010 1:28am Aug 9, 2010 1:28am
Quoting Novak
Check this one out guys, it's a demo trade on FXCM's trading station platform... Anyways, it's a pic of a 4 hour time frame and im going short... Anyone think I'll stop out before I TP?

Attachment
Novak

I see your logic, But I just caught a breakout long at 136.60,
But I'm only going for a small gain. Maybe we can both win.

Spike
Will, Knowledge, Discipline, And tenacity=Success
  • #70,938
  • Aug 9, 2010 1:32am Aug 9, 2010 1:32am
Quoting jarroo
I don't think there are any differences between the two as far a continuation setups go. What the technical analysis books fail to show is the location as the key factor. Meaning PPZ levels, Support turning into Resistance and vice versa, etc. Seems to me there just talking about the pattern itself and we know its more about the Location.

Thanks jarroo for the examples!

Just to confirm (from left to right of your chart):
1) dblhc reversal
2) beovb continuation
3) beovb continuation
4) buovb continuation (not too sure about this as a continuation of the last 2 bars or reversal of larger downtrend?)

Is this correct?
"Instead of hoping he must fear; instead of fearing he must hope."
  • #70,939
  • Aug 9, 2010 1:33am Aug 9, 2010 1:33am
Quoting jarroo
I do like the odds of it hitting your TP . . . small PB, not at swing High not at any obvious higher time frame PPZ level. and you didn't wait for the break.
This one looked a bit better (other PB , red arrow) and it hit its target.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,940
  • Aug 9, 2010 1:51am Aug 9, 2010 1:51am
Quoting Spike
Novak

I see your logic, But I just caught a breakout long at 136.60,
But I'm only going for a small gain. Maybe we can both win.

Spike
Novak

It's all yours, I'm out, I hit B/E

Spike
Will, Knowledge, Discipline, And tenacity=Success
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