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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

  • #71,881
  • Aug 17, 2010 2:27am Aug 17, 2010 2:27am
Quoting jarroo
If that BUOB was bigger it would of had more strength. Big bars do Rule.
that's what she said
Many choose unhappiness over uncertainty.
  • #71,882
  • Aug 17, 2010 2:28am Aug 17, 2010 2:28am
Quoting Dan Gilbert
that's what she said

LOL......Who is she?
  • #71,883
  • Aug 17, 2010 2:28am Aug 17, 2010 2:28am
Quoting Hitchhiker
This looks a likely set-up. Breakout and retest of support.
Support holding so far..any thoughts on this pair?
  • #71,884
  • Aug 17, 2010 2:33am Aug 17, 2010 2:33am
Quoting Pinbar
SL looks a bit tight. LoL

goodluck with your trade !!!
  • #71,885
  • Aug 17, 2010 2:37am Aug 17, 2010 2:37am
Quoting Pinbar
Postmortem


I think the H4 flip area combined with the close of the BUOB right on the 1.0400 instead of being a few pips above it and a larger bar, could have made this one fail.

I was thinking the Berlin open may quickly have pushed it to the FTA but obviously the London guys had a different idea.

It was still a reasonably good trade I believe, and it had potential with not so much risk. That is what we are trying to do here, I believe.
So, all in all, I am pleased with it even though it failed.
Actually, a loss at this stage could be psychologically...
Yes , a bigger BUOB bar (engulfing more bars) with a higher close above the 1.0400 would have made the difference.
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Indicators show the past. Price Action "Indicates" the future.
  • #71,886
  • Aug 17, 2010 2:41am Aug 17, 2010 2:41am
Quoting jarroo
Yes , a bigger BUOB bar with a higher close above the 1.0400 would have made the difference.

Jarroo, which do you think was the main culprit, the size of the bar, the close on 1.0400 or the H4 flip area?




incidentally, the draw down was 0.15% which I think were good odds in that trade.

Absolute Drawdown: 4.62 Maximal Drawdown: 4.62 (0.15%) Relative Drawdown: 0.15% (4.62)
  • #71,887
  • Aug 17, 2010 2:46am Aug 17, 2010 2:46am
Quoting Pinbar
Jarroo, which do you think was the main culprit, the size of the bar, the close on 1.0400 or the H4 flip area?




incidentally, the draw down was 0.15% which I think were good odds in that trade.

Absolute Drawdown: 4.62 Maximal Drawdown: 4.62 (0.15%) Relative Drawdown: 0.15% (4.62)

The size of the bar, because a bigger size would have engulfed more bars and would have been well above the 1.0400. The 1.0400 is a good proven level. As Mike would say, Big Bars give us a lot of information . . . mainly strength.
Indicators show the past. Price Action "Indicates" the future.
  • #71,888
  • Aug 17, 2010 2:51am Aug 17, 2010 2:51am
Quoting jarroo
The size of the bar, because a bigger size would have engulfed more bars and would have been well above the 1.0400. The 1.0400 is a good proven level. As Mike would say, Big Bars give us a lot of information . . . mainly strength.

Thanks Jarroo, duly noted for future reference.

I suppose, it is easy to get pulled into taking a smaller bar like this because of the location. That said, there really was no other confluence other than the RN and PA.
  • #71,889
  • Aug 17, 2010 2:52am Aug 17, 2010 2:52am
Quoting Hitchhiker
This looks a likely set-up. Breakout and retest of support.

Gotta chart Hitchhiker? What time frame?
Indicators show the past. Price Action "Indicates" the future.
  • #71,890
  • Aug 17, 2010 2:53am Aug 17, 2010 2:53am
Quoting Pinbar
...
I was thinking the Berlin open may quickly have pushed it to the FTA but obviously the London guys had a different idea.
there is no stock exchange in berlin (only a unimportant regional exchange). you mean frankfurt.
meine augen sind die sterne
  • #71,891
  • Aug 17, 2010 2:54am Aug 17, 2010 2:54am
Quoting Pinbar
Thanks Jarroo, duly noted for future reference.

I suppose, it is easy to get pulled into taking a smaller bar like this because of the location. That said, there really was no other confluence other than the RN and PA.
Well the 1.0400 is a pretty strong Support level . . we just needed stronger PA.
Indicators show the past. Price Action "Indicates" the future.
  • #71,892
  • Aug 17, 2010 3:05am Aug 17, 2010 3:05am
Quoting aserbfx
there is no stock exchange in berlin (only a unimportant regional exchange). you mean frankfurt.

Yes, the P4 clock I use only shows Berlin.

I did indeed mean the FRO
  • #71,893
  • Aug 17, 2010 3:07am Aug 17, 2010 3:07am
Quoting Pinbar
....
This is a good trade to learn from and considering it was only a 0.02 lot, -$4.62 is not much of a price to pay....
it might be very small for u. but think of it this way:
-$4 x 100 trades or 1000 trades. that adds up right?
$10,000 or $1M comes from $1. in the same way that -$1000 or -$10k comes from many -$1's

Quoting Pinbar
....
I think the H4 flip area combined with the close of the BUOB right on the 1.0400 instead of being a few pips above it and a larger bar, could have made this one fail.....
i agree. i have the PPZ at 1.0400. price failed to close above 1.0400.
plus, imho, H4 & Daily may be choppy but it has a bearish bias for me. if u agree, then u made a CT trade.
Quote
Actually, a loss at this stage could be psychologically advantageous over a runner. If you get what I mean.
that depends on the psychological makeup of a person. a win can be psychologically beneficial too, at that same stage.
  • #71,894
  • Aug 17, 2010 3:46am Aug 17, 2010 3:46am
Quoting supremeChaos
it might be very small for u. but think of it this way:
-$4 x 100 trades or 1000 trades. that adds up right?
$10,000 or $1M comes from $1. in the same way that -$1000 or -$10k comes from many -$1's


i agree. i have the PPZ at 1.0400. price failed to close above 1.0400.
plus, imho, H4 & Daily may be choppy but it has a bearish bias for me. if u agree, then u made a CT trade.
that depends on the psychological makeup of a person. a win can be psychologically beneficial too, at that same stage.


Hey SC......How come you are coming over so heavy on this subject.

It was a reasonable trade in IMHO opinion, even Jaroo liked it.
I managed it as well as possible, I see nothing unreasonable about the trade MM. In fact, I think it was a good trade.

We can not expect every trade we take to be a winner, all we can do is manage our risk and take reasonable trades & learn from the losers.
This is exactly what I am trying to do.

I only mentioned the percentage of draw down as Jarroo was a bit concerned I may be trading too large a percentage of my account and, I did not want to disappoint the chap.

I agree, with your analysis of that PA bar, and am grateful for it.
  • #71,895
  • Aug 17, 2010 3:57am Aug 17, 2010 3:57am
hello Pinbar,
what do u mean?
probably u misinterpreted my post because it had no smilies in it.

i merely gave u a few different perspectives, Sir. nothing more
  • #71,896
  • Aug 17, 2010 5:25am Aug 17, 2010 5:25am
Quoting supremeChaos
hello Pinbar,
what do u mean?
probably u misinterpreted my post because it had no smilies in it.

i merely gave u a few different perspectives, Sir. nothing more


----------------------------------------------------------------------------------------
it might be very small for u. but think of it this way:
-$4 x 100 trades or 1000 trades. that adds up right?
$10,000 or $1M comes from $1. in the same way that -$1000 or -$10k comes from many -$1's
----------------------------------------------------------------------------------------


I meant the bit above.

it sounded like you thought it was an extravagant trade to take or something.

Yeah, I probably got the wrong end of the stick. LoL

I was wondering how else it is possible to trade without an SL?

LOL


I have a cat who has developed a food alergy, the only thing he can eat while we are working out what the allergy is, is fresh duck meat and I just got back from the butchers with his duck. Two pieces just cost me $36.00. I think that trade was a better deal. LoL
  • #71,897
  • Aug 17, 2010 5:37am Aug 17, 2010 5:37am
Totally agree jarroo, for my trading i would also have wanted it at a swing low or swing high and obviously bigger bar.....cheers

Quoting jarroo
Well the 1.0400 is a pretty strong Support level . . we just needed stronger PA.
  • #71,898
  • Aug 17, 2010 5:42am Aug 17, 2010 5:42am
Quoting Pinbar

I was wondering how else it is possible to trade without an SL?
I think the stop was very tight. Now, its heading towards your predicted direction. That was a very choppy area, so a little bigger one would be preferable for me personally.
  • #71,899
  • Aug 17, 2010 5:46am Aug 17, 2010 5:46am
Quoting xmzhang
I've been watching the kiwi for quite some time now, on the daily price broke the upTL last week and yesterday price revisted this TL and got rejected via a nice BEOB, price then resumed its downtrend and found support at the BRN 7000 as expected, confirmed by PA via a not so ideal PB (the uppertail is somewhat to long according to me). Zooming into a 4H-TF we see clearly the different PPZ's. Today price encountered MAJOR resistance at the BRN 7100 confirmed by PA via a very very nice PB, price also has MAJOR support at the BRN 7000. So my quess...
G'day fellow traders,
The current 4H bar of the kiwi is about to close and it looks like it will close as a PB, at least I hope so. As I told previous my quess was that the kiwi would consolidate for the time being between the RNB's 7000 and the 7100. Now if the 4H current bar closes as an PB (off the 7100) than we could play this range and aim the 7035 as our FTA and finally the 7000, let's see how this plays out.

May the force be with you,
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Pipcrawler
  • #71,900
  • Edited 6:15am Aug 17, 2010 5:52am | Edited 6:15am
Quoting The Lord
I think the stop was very tight. Now, its heading towards your predicted direction. That was a very choppy area, so a little bigger one would be preferable for me personally.

Yes, but price was above the 1.0400 area where I took it, and there was a great possibility it was going to find a platform there when resistance changed to support on H1.

I was thinking of having another go at it, until I put the 25 & 10 ema on it to see what was going on.

The red 25 ema is lining up with the PPZ and the 38.2 fibo, this is the first time back so, it may run South soon.

Not a good long to take right now.
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