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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

  • #71,741
  • Aug 15, 2010 11:30pm Aug 15, 2010 11:30pm
Hello all,
Just reading the posts and looking at some charts... I see a lot of discussion about the GU daily IPB but I did not see much being said about the DBHLC on the GU Weekly chart. It looks like the uptrend is over for the time-being, did I miss something?
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  • #71,742
  • Aug 15, 2010 11:34pm Aug 15, 2010 11:34pm
Quoting Pipologist99
Hello all,
Just reading the posts and looking at some charts... I see a lot of discussion about the GU daily IPB but I did not see much being said about the DBHLC on the GU Weekly chart. It looks like the uptrend is over for the time-being, did I miss something?
Hey PIPO


I am looking at the GU with interest and would like to see the current daily bar end up like the one I drew on this chart.
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  • #71,743
  • Aug 16, 2010 12:06am Aug 16, 2010 12:06am
Quoting jarroo
I must respectfully disagree with you on the 2nd "IPB" Ghous.

I view this as a Double Inside Bar because . . . that's what it was. Nice robust compression breakout.

Great analysis on this 1st one.

Sorry Ghous. . . . but you taught me to well on IPBs . . .
No apologies needed big man. I see what you are pointing at.

g.
I believe . . .
  • #71,744
  • Aug 16, 2010 12:10am Aug 16, 2010 12:10am
Quoting Pipologist99
Hello all,
Just reading the posts and looking at some charts... I see a lot of discussion about the GU daily IPB but I did not see much being said about the DBHLC on the GU Weekly chart. It looks like the uptrend is over for the time-being, did I miss something?
Not really Kam,

Just that the support around 1.55 is (as expected) holding a bit, a push through this one and it should be off and running IMHO.

g.
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I believe . . .
  • #71,745
  • Aug 16, 2010 12:58am Aug 16, 2010 12:58am
Quoting ghous
Not really Kam,

Just that the support around 1.55 is (as expected) holding a bit, a push through this one and it should be off and running IMHO.

g.

Ghous

I forgot about the DBHLC on the weekly.

I realize that PA is considerable, but at the same time, I am wondering about the area this retrace is at around the 23.6 and not that deep considering the run up.

Also, the TL has me a little apprehensive to this breaking short, third time back to the TL on the weekly.

Your thoughts on this would be appreciated.
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  • #71,746
  • Aug 16, 2010 1:30am Aug 16, 2010 1:30am
Quoting Pinbar
Ghous

I forgot about the DBHLC on the weekly.

I realize that PA is considerable, but at the same time, I am wondering about the area this retrace is at around the 23.6 and not that deep considering the run up.

Also, the TL has me a little apprehensive to this breaking short, third time back to the TL on the weekly.

Your thoughts on this would be appreciated.
Why I find that DBHLC a valid setup is because not only is it off the 1.6 BRN it's also off the lower range of that entire box of consolidation we had a few months back.

Like i said though things should get interesting when and if the 1.55 breaks.

g.
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I believe . . .
  • #71,747
  • Aug 16, 2010 1:36am Aug 16, 2010 1:36am
Quoting ghous
Why I find that DBHLC a valid setup is because not only is it off the 1.6 BRN it's also off the lower range of that entire box of consolidation we had a few months back.

Like i said though things should get interesting when and if the 1.55 breaks.

g.


I get you, good point.

Maybe this weekly TL is where we will see this daily bar retrace to before it turns South?
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  • #71,748
  • Aug 16, 2010 1:41am Aug 16, 2010 1:41am
Quoting Pinbar
I get you, good point.

Maybe this weekly TL is where we will see this daily bar retrace to before it turns South?
umm...I am actually not into really long term TLs. I like'em short term and how rac uses them,



g.
I believe . . .
  • #71,749
  • Aug 16, 2010 1:52am Aug 16, 2010 1:52am
the USDCHF daily I4B on straddle of the 1.05 vbrn has broken south.

I did not take this trade, for 3 reasons:

-I was skeptical of the bar in the first place
-I was already long CHFJPY
-on IBFX it opened with a small gap down, although it did retrace, I am very skeptical of taking the break on a sunday night.


So, I will miss this train, but I won't really "miss" it, if you know what I mean
Many choose unhappiness over uncertainty.
  • #71,750
  • Aug 16, 2010 2:13am Aug 16, 2010 2:13am
Pretty glad I was sleeping when this one showed up as it would have given me a headache.

1 Hour Pinbar with divergence at the big 0.7000

But not a massive bar compared to that recent onslaught of the USD against most pairs

Probably would have passed.. especially as it occured in the Asian session;
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  • #71,751
  • Aug 16, 2010 2:29am Aug 16, 2010 2:29am
Hi Johnnyislost. I was just wondering, is a pin Bar like the one you described any less likely to be OK b/c it was formed on the Asian Market? or can a properly formed Pinbar form on any market session? Cheers SR
  • #71,752
  • Aug 16, 2010 2:36am Aug 16, 2010 2:36am
Quoting Sjr
Hi Johnnyislost. I was just wondering, is a pin Bar like the one you described any less likely to be OK b/c it was formed on the Asian Market? or can a properly formed Pinbar form on any market session? Cheers SR
Hi Sjr,

I wouldn't say less reliable, But I'm not familiar with trading the Asian session as it occurs "overnight" here in the UK. It's defiantly a quieter trading session than the the London and NY sessions and is more prone to choppiness.
But as you can see.. this one worked out just fine and went exactly where we would expect, so I think a decent pin at a decent location always has good potential, no-matter what session it formed in

Jonny
  • #71,753
  • Aug 16, 2010 2:54am Aug 16, 2010 2:54am
Can some one explain why divergence work? I have learned how to see it. But nowhere I can find the explanation WHY?

I can understand why PA, S&R work. But why divergence? Google explains as because bulls or bears have exhausted... well why?
  • #71,754
  • Aug 16, 2010 3:01am Aug 16, 2010 3:01am
Quoting Jonnyislost
Hi Sjr,

I wouldn't say less reliable, But I'm not familiar with trading the Asian session as it occurs "overnight" here in the UK. It's defiantly a quieter trading session than the the London and NY sessions and is more prone to choppiness.
But as you can see.. this one worked out just fine and went exactly where we would expect, so I think a decent pin at a decent location always has good potential, no-matter what session it formed in



Jonny
Yeah thx for that Jonny. Its interesting because being based in NZ I sometimes see really good opportunities on the hourly chart but often Im sleeping when they happen. Cheers SR
  • #71,755
  • Aug 16, 2010 3:08am Aug 16, 2010 3:08am
Quoting ghous
No apologies needed big man. I see what you are pointing at.

g.

Thanks g . . . I'm sure Dale saw it that way too.
Indicators show the past. Price Action "Indicates" the future.
  • #71,756
  • Aug 16, 2010 3:09am Aug 16, 2010 3:09am
Quoting Adilius07
Can some one explain why divergence work?...Google explains as because bulls or bears have exhausted... well why?
does joel's post help?

another answer:
supply & demand (selling & buying)
  • #71,757
  • Aug 16, 2010 3:12am Aug 16, 2010 3:12am
Quoting supremeChaos
does joel's post help?

another answer:
supply & demand (selling & buying)
Thanks for this great explanation IMO it's essential to know the background of what you're trading. Got to dig into it
  • #71,758
  • Aug 16, 2010 3:12am Aug 16, 2010 3:12am
Quoting Pipologist99
Hello all,
Just reading the posts and looking at some charts... I see a lot of discussion about the GU daily IPB but I did not see much being said about the DBHLC on the GU Weekly chart. It looks like the uptrend is over for the time-being, did I miss something?

That's not an IPB . . . its an IB that looks like an IPB on the GU Daily.
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Indicators show the past. Price Action "Indicates" the future.
  • #71,759
  • Aug 16, 2010 3:13am Aug 16, 2010 3:13am
Quoting Adilius07
Can some one explain why divergence work? I have learned how to see it. But nowhere I can find the explanation WHY?

I can understand why PA, S&R work. But why divergence? Google explains as because bulls or bears have exhausted... well why?
This could be of some assistance to our inquisitive Ad.

MACD DIVERGENCE

g.
I believe . . .
  • #71,760
  • Aug 16, 2010 3:15am Aug 16, 2010 3:15am
Quoting jarroo
That's not an IPB . . . its an IB that looks like an IPB on the GU Daily.
Yup! An IPB has to have the look of a pin bar...because it is a pin bar, only inverted.

g.
I believe . . .
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