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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

  • #72,021
  • Aug 18, 2010 2:18am Aug 18, 2010 2:18am
Quoting cprao
Jarroo, Sorry. I did not put the question right. on the above when you say " I would wait for the setup to break" - How many pips the price has to go below the low of beob/dbhlc to consider it as a "break". ?
Any amount will do. I was willing to wait until the 1.5500 was hit then retrace. When a setup breaks, it validates the setup. You may hear James16, Mike and others say that a PB is not a PB until it breaks. Well the same goes for all other PA as well.

You can look for a retrace before it breaks, meaning if Price retraced to the 1.5700 before it broke. This is also viable when the setup is of high quality, but I prefer a break of the setup then a retrace . . even if its one pip. lol
Indicators show the past. Price Action "Indicates" the future.
  • #72,022
  • Aug 18, 2010 2:39am Aug 18, 2010 2:39am
Quoting ertorque
Hey Jaroo, no problem. I see it now.
Darn it, it IS there (the bearish PA) after all. But then again, would never have thought of looking at 8H; just too high for me to be considered a low TF

As usual, great rapport here!

CY



There's nothing like PA on the lower time frames that agrees with higher time frame PA. . .or should I say high quality, higher time frame PA agrees with . . .

Funny, the Hourly sometimes looks like a 5min chart to me. lol
Indicators show the past. Price Action "Indicates" the future.
  • #72,023
  • Aug 18, 2010 2:55am Aug 18, 2010 2:55am
Quoting jarroo
The DJIA30 Weekly BEOB . . . and so on . . .
Jarroo,

This is great, very clear and simple. i had been looking at the DJ30 weekly BEOB and Monday formed a pin bar on the Daily.
Yesterday saw a retrace that pushed past the low of ther previous weeks candle but fail to hold.
  • #72,024
  • Aug 18, 2010 2:58am Aug 18, 2010 2:58am
Quoting jarroo
Good thing we wait for the break (2 Day PB), right Lord?

One thing I failed to mention on this one was what was going on on the Weekly BUOB.

Atc should remember this one.



Now that we have had a Weekly Bar close below this 1.3350ish PPZ level we may see some nice bearish moves coming our way.

Support turning into Resistance.
I missed this one on the Eur/Cad.

4 Hour BEOB at and through the 1.3350. Engulfing many bars, the close below the 1.3350.

What would have gave me confirmation or confidence to take this setup was that the Weekly Bar closed below the 1.3350. Support turning into Resistance.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurcad4hour18.gif Size: 28 KB
Indicators show the past. Price Action "Indicates" the future.
  • #72,025
  • Aug 18, 2010 3:05am Aug 18, 2010 3:05am
Quoting aserbfx
eur/aud 4 hour pinbar.
1.4200 is also support on the daily timeframe. closed above 1.42.

fta will be 1.4300.
it wasn't the best setup, but good enough for 50 pips so far.
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #72,026
  • Aug 18, 2010 3:07am Aug 18, 2010 3:07am
Quoting Chelski
Jarroo,

This is great, very clear and simple. i had been looking at the DJ30 weekly BEOB and Monday formed a pin bar on the Daily.
Yesterday saw a retrace that pushed past the low of ther previous weeks candle but fail to hold.

Yeah I saw the PB as well. . .a bit small but broke very hard. . . I love when that happens.
Indicators show the past. Price Action "Indicates" the future.
  • #72,027
  • Aug 18, 2010 3:15am Aug 18, 2010 3:15am
Quoting aserbfx
it wasn't the best setup, but good enough for 50 pips so far.
I tough trade aserbfx only because the PB was so small. I would have preferred a much bigger PB. But its working out nicely can't argue that . .
Indicators show the past. Price Action "Indicates" the future.
  • #72,028
  • Aug 18, 2010 3:34am Aug 18, 2010 3:34am
It has just hit me that USDCHF has formed this gigantic H&S on the weekly. LOL


Too bad it is at a low.
Attached Image (click to enlarge)
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  • #72,029
  • Aug 18, 2010 3:39am Aug 18, 2010 3:39am
Good gracious! what happen to cable? 100pips up in less than an hr?
  • #72,030
  • Aug 18, 2010 3:40am Aug 18, 2010 3:40am
Quoting Pinbar
It has just hit me that USDCHF has formed this gigantic H&S on the weekly. LOL
Or a Nice Big 2 Month PB that broke nicely.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf2monday.gif Size: 27 KB
Indicators show the past. Price Action "Indicates" the future.
  • #72,031
  • Aug 18, 2010 3:41am Aug 18, 2010 3:41am
Quoting ertorque
Good gracious! what happen to cable? 100pips up in less than an hr?
The 1.5500 looks pretty strong.
Indicators show the past. Price Action "Indicates" the future.
  • #72,032
  • Aug 18, 2010 3:48am Aug 18, 2010 3:48am
Quoting ertorque
Good gracious! what happen to cable? 100pips up in less than an hr?
BOE Meeting minutes ...
  • #72,033
  • Aug 18, 2010 3:49am Aug 18, 2010 3:49am
Quoting jarroo
Or a Nice Big 2 Month PB that broke nicely.
OMG thats huge !

Seen any other A+ setups lately J ?
  • #72,034
  • Aug 18, 2010 3:53am Aug 18, 2010 3:53am
Following that BOE news, there are some gynormous H4 engulfing bars about to close (NY charts) on gu and gj but headed into all that traffic ...
  • #72,035
  • Aug 18, 2010 3:54am Aug 18, 2010 3:54am
Quoting pipmyride
OMG thats huge !

Seen any other A+ setups lately J ?
lol I hear ya. . .

The GU Weekly DBHLC and EU Weekly "Bearish Big Bar" have potential. But nothing that really standout as of yet.
Indicators show the past. Price Action "Indicates" the future.
  • #72,036
  • Aug 18, 2010 3:56am Aug 18, 2010 3:56am
Is GU showing signs of a TC.

Large BUOB off of the TL, at a SL, 1.5500 a few mins before the close.

I shall watch with interest how it closes.

Oh, news..Is this the pump before the dump?
Attached Image (click to enlarge)
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  • #72,037
  • Aug 18, 2010 3:59am Aug 18, 2010 3:59am
Quoting Pinbar
Is GU showing signs of a TC.

Large BUOB off of the TL, at a SL, 1.5500 a few mins before the close.

I shall watch with interest how it closes.

Oh, news..Is this the pump before the dump?
watching the same...
i would like to read jarroo comment on this.
meine augen sind die sterne
  • #72,038
  • Aug 18, 2010 4:00am Aug 18, 2010 4:00am
Quoting pipmyride
OMG thats huge !

Seen any other A+ setups lately J ?

The 1.0300 on the Cad is good strong level . . . its been a hot potato . . . . just need some solid PA to confirm it.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #72,039
  • Aug 18, 2010 4:02am Aug 18, 2010 4:02am
a lot of buob's on the gpb/xxx crosses.
this one looks good, too.
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #72,040
  • Aug 18, 2010 4:12am Aug 18, 2010 4:12am
unfortunately IMHO the GBP bars are far too big , risk-wise to take as they are
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