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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

  • #71,521
  • Aug 13, 2010 2:32am Aug 13, 2010 2:32am
Quoting Adilius07
Thanks Ghous, SC.
That is why they are an advanced PA.
I look for them but very very cautiously. Just traded ONE so far in my entire life Thanks.
Yes, thanks for your insights Ghous, SC on the IPB.
Location, location, location......................
  • #71,522
  • Aug 13, 2010 2:53am Aug 13, 2010 2:53am
Quoting cprao
Ok. Sorry everybody. It was IBFX. I have two feeds.. FXDD and IBFX..

Sorry for all the confusion.

PB, sorry for the pain caused to you to call FXDD. Yes they don't have GBPCAD.

Hey NP, I just thought it was weird.

I didn't call them just chat over the web.
  • #71,523
  • Aug 13, 2010 2:54am Aug 13, 2010 2:54am
Quoting aserbfx
THIS IS A BUOB !!!
A BUOB that is useless as PA at a swing high.
  • #71,524
  • Aug 13, 2010 3:00am Aug 13, 2010 3:00am
No Jarroo today..

Hope he is just busy and not lost his Internet connection.
  • #71,525
  • Aug 13, 2010 4:22am Aug 13, 2010 4:22am
Going to add to my EURGBP short position if price breaks below .82
The nail that sticks out gets hammered back in
  • #71,526
  • Aug 13, 2010 4:31am Aug 13, 2010 4:31am
Quoting Pinbar
A BUOB that is useless as PA at a swing high.
yes, maybe. but there was a minor swing by retracement from the 30 usd resistance. i think a good plan will be to wait for a retracement near the 30 usd and long there. stopp below the big candle.
meine augen sind die sterne
  • #71,527
  • Aug 13, 2010 4:54am Aug 13, 2010 4:54am
Cad/Yen 4H.

Now that's what I call A+

g.
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I believe . . .
  • #71,528
  • Aug 13, 2010 5:02am Aug 13, 2010 5:02am
Quoting ghous
Cad/Yen 4H.

Now that's what I call A+

g.
Agree with you here. One of the best setups lately.

Can't see that PB on my chart. Different data feed again
  • #71,529
  • Aug 13, 2010 5:09am Aug 13, 2010 5:09am
Ghous

Yes, it appears to be valid but would you kindly explain a couple of things about this PB? I realize the location and shape are good but, I am wondering about these points.

The PB looks rather small against the bullish bar that got us up here, RSI is showing Bullish divergence.
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  • #71,530
  • Aug 13, 2010 5:11am Aug 13, 2010 5:11am
That is an excellent trade ghous! If i could catch a couple of those a month I would be very happy!

I was looking at USD/CAD H4 pinbar which has bounced off a PPZ and is at a retracement of a mini uptrend. Theres a downsloping TL above it which could be a good TP. What do you guys think of that setup? I think i've kinda gone from being picky to being afraid to trade incase it goes against me...not good:S.
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  • #71,531
  • Aug 13, 2010 5:13am Aug 13, 2010 5:13am
Quoting Pinbar
Ghous

Yes, it appears to be valid but would you kindly explain a couple of things about this PB? I realize the location and shape are good but, I am wondering about these points.

The PB looks rather small against the bullish bar that got us up here, RSI is showing Bullish divergence.
That looks like hidden bearish divergence to me PB, for a continuation
  • #71,532
  • Aug 13, 2010 5:14am Aug 13, 2010 5:14am
Pinbar how do you set up those grid lines on RSI indicator (the 30, 50, 70 ones)?
  • #71,533
  • Aug 13, 2010 5:17am Aug 13, 2010 5:17am
Quoting Pinbar
Ghous

Yes, it appears to be valid but would you kindly explain a couple of things about this PB? I realize the location and shape are good but, I am wondering about these points.

The PB looks rather small against the bullish bar that got us up here, RSI is showing Bullish divergence.
Look also at the bearish bars that got us down here.

That BUB you're talking about was huge yes, but then look at the next 3 bars that formed after that BUB, clearly price was not able to sustain that sudden up thrust, and the Pb is bigger than any of those 3 bars. Then bring into the equation a dominant down trend (huge BEBs indicating that) a nose that sticks out long and nice into the 8300 area and the 50 fib ret and you're done piling enough pros for the setup.

g.
I believe . . .
  • #71,534
  • Aug 13, 2010 5:25am Aug 13, 2010 5:25am
Quoting ghous
Look also at the bearish bars that got us down here.

That BUB you're talking about was huge yes, but then look at the next 3 bars that formed after that BUB, clearly price was not able to sustain that sudden up thrust, and the Pb is bigger than any of those 3 bars. Then bring into the equation a dominant down trend (huge BEBs indicating that) a nose that sticks out long and nice into the 8300 area and the 50 fib ret and you're done piling enough pros for the setup.

g.

Thanks for the explanation Ghous.

I am just trying to get my head around all the angles.


Is that Bearish Hidden Div?
  • #71,535
  • Aug 13, 2010 5:27am Aug 13, 2010 5:27am
Quoting Rustam
That is an excellent trade ghous! If i could catch a couple of those a month I would be very happy!

I was looking at USD/CAD H4 pinbar which has bounced off a PPZ and is at a retracement of a mini uptrend. Theres a downsloping TL above it which could be a good TP. What do you guys think of that setup? I think i've kinda gone from being picky to being afraid to trade incase it goes against me...not good:S.
Please don't say that. I did not take this trade. In fact I am in the middle of a horrible "trade missing" streak here.

That USD/CAD pb looks superb, and if I were you I would watch out for that entire small box of consolidation than only a trend line that touched only the top of that box.

Let your instincts dictate terms Rustam, being cautious is good and you're not a human if you're not afraid of loosing, but bars like these that jump out deserve more than a trembling unsure mouse click Of course no degree of cautiousness can prevent losses 100% so just take the best out there and leave the rest to probability

g.
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I believe . . .
  • #71,536
  • Aug 13, 2010 5:29am Aug 13, 2010 5:29am
Quoting Pinbar
Thanks for the explanation Ghous.

I am just trying to get my head around all the angles.


Is that Bearish Hidden Div?
Yes Pin bar it is actually hidden bearish divergence, so you can add that to the already heavy bag of pros for the setup.

g.
I believe . . .
  • #71,537
  • Aug 13, 2010 5:30am Aug 13, 2010 5:30am
Quoting Pinbar
Is that Bearish Hidden Div?
This might help I have some trouble with understanding divergence and find this useful.
  • #71,538
  • Aug 13, 2010 5:48am Aug 13, 2010 5:48am
Quoting mihazupan1
This might help I have some trouble with understanding divergence and find this useful.

LoL, Div confuses me at the best of times.

Thanks

Also, thanks to Ghous and indeed JIL for pointing it out.
  • #71,539
  • Aug 13, 2010 5:52am Aug 13, 2010 5:52am
Quoting mihazupan1
Pinbar how do you set up those grid lines on RSI indicator (the 30, 50, 70 ones)?

Just open the RSI indicator edit, change to LEVELS and add a level and set the number you want for the level.
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  • #71,540
  • Aug 13, 2010 5:52am Aug 13, 2010 5:52am
Quoting pippiee
I took this one, seems to be stuck though.
Sorry for the mess on my chart.
One of the bigger problems I face is keeping my chart as clean as possible without skipping to much important information.
And it finally reached the FTA, it even gave us a little more. I was a little worried though, thats why i put my SL to BE. It seems i became a little spoiled and wanted it to reach the FTA in no time, since the last trade i took on UC a few days ago hit the FTA in less than 30 minutes

Hope you managed it.

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