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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

  • #72,261
  • Aug 19, 2010 6:06pm Aug 19, 2010 6:06pm
Looks to me like the daily I4Bs straddling VBRN on AUDUSD and EURJPY worked nicely for those who took them.

The bars were too big for my liking, not enough wind-up.
Many choose unhappiness over uncertainty.
  • #72,262
  • Edited 6:26pm Aug 19, 2010 6:10pm | Edited 6:26pm
Quoting Dan Gilbert
Looks to me like the daily I4Bs straddling VBRN on AUDUSD and EURJPY worked nicely for those who took them.

The bars were too big for my liking, not enough wind-up.

I see your point Dan . . . but Price sure keeps validating this awesome setup.
Indicators show the past. Price Action "Indicates" the future.
  • #72,263
  • Aug 19, 2010 6:43pm Aug 19, 2010 6:43pm
Quoting Jonnyislost
Really wanted to see a deeper test of 1.55/PPZ before seeing PA
Then I would be
But as it stands this is an just an A- or B in my book so I passed

Same with GBP/CAD and the 1.6000


Quoting Jonnyislost
Looks like we had a real stab at the 1.6 BRN this time
I like this bar very much
order placed at 1.6105 (above the BUOB and round number)
Quoting Jonnyislost
My stop's at BE too Chris
If we break higher out of this little consolidation I'll hide my stop under it and see if we can get a push to 1.62

Jonny

EDIT: Oh we did already
Sweet! Jonnyisfound . .I mean . . .Jonnyislost . . (we got to change that user name).

Indicators show the past. Price Action "Indicates" the future.
  • #72,264
  • Aug 19, 2010 7:24pm Aug 19, 2010 7:24pm
Quoting jarroo
Hey . .Thanks Mike.


Just to add to this Geo. The BEOB on the Weekly DJIA30 that you referenced in your post (green) would be considered a BEOB at a swing low (instead of at a swing High where we like them). The top of the body of the BEOB is at a swing High but the entry is at a swing low or near the bottom of current Prices. So yes . . . I see your point, its not A+ and would be considered a continuation BEOB.

For many, its an easy pass . . no problem. For me, I would manage it tightly a look for a hard break, I would also notice...
Thanks Jarroo for the explaination. For some reason I was under the impression that you would wait for the break then look for the retrace
  • #72,265
  • Aug 19, 2010 7:47pm Aug 19, 2010 7:47pm
Quoting jarroo
I see your point Dan . . . but Price sure keeps validating this awesome setup.
It's funny how many in this thread call it my "signature" setup.... as if I invented it or something

mike w is to blame for these great inside bars!
Many choose unhappiness over uncertainty.
  • #72,266
  • Aug 19, 2010 9:14pm Aug 19, 2010 9:14pm
Anyone watching the BUOB on USD/CAD

pros:

Nice sized bar, swing low, BRN, off 61.8 fibo.

The H4 has 3 consequence bull bars in a row and 6 ema has broken the 150 and 365 ema.


Cons.

Closed at 1.0400 and below PPZ at 1.0412, only about 40 pips to FTA where there are some serious lows. traffic on left at red box.

Any thoughts appreciated.
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  • #72,267
  • Aug 19, 2010 9:57pm Aug 19, 2010 9:57pm
And just why would I consider looking for a long trade against this trend?

Must be the heat! Think I need a break. LOL
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  • #72,268
  • Aug 19, 2010 10:00pm Aug 19, 2010 10:00pm
It's a good BEOB at
swing high
61.8% retracement
Broke through BRN 10500

But the close is not good.

Did not break the consolidation.
A close below 10240 (around 10190) would have been a good bar to short it.

Any thoughts ?
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  • #72,269
  • Aug 19, 2010 10:03pm Aug 19, 2010 10:03pm
Quoting spookie94
Thanks Jarroo for the explaination. For some reason I was under the impression that you would wait for the break then look for the retrace
Yes, I usually do wait for the break depending on the setup. But when you watch Price behave after a setup is formed, such as a Outside Bar, and see retrace to its previous bar High or Low its a good sign that a good break is coming and the setup is correct. But a break of the setup validates the setup.


Quoting jarroo
, I would manage it tightly a look for a hard break, I would also notice that it retraced to the previous bar Low before it broke which is a good sign.
Quoting jarroo
I will take a simple break and manage it accordingly to its traffic, but you will usually see these retracements to the previous bar before they break, which is a good sign of a successfull hard break.
Indicators show the past. Price Action "Indicates" the future.
  • #72,270
  • Aug 19, 2010 10:04pm Aug 19, 2010 10:04pm
Quoting Pinbar
Anyone watching the BUOB on USD/CAD

pros:

Nice sized bar, swing low, BRN, off 61.8 fibo.

The H4 has 3 consequence bull bars in a row and 6 ema has broken the 150 and 365 ema.


Cons.

Closed at 1.0400 and below PPZ at 1.0412, only about 40 pips to FTA where there are some serious lows. traffic on left at red box.

Any thoughts appreciated.
Commented I this one a few post earlier Pb.

Quoting jarroo
BUOB is not at a swing low. Its heading into alot traffic (Daily bar Highs to the left). And its in the middle of Weekly consolidation . . or in the middle of a mess.

.
Indicators show the past. Price Action "Indicates" the future.
  • #72,271
  • Aug 19, 2010 10:17pm Aug 19, 2010 10:17pm
Quoting Dan Gilbert
It's funny how many in this thread call it my "signature" setup.... as if I invented it or something

mike w is to blame for these great inside bars!
Was it Mike W that put the IBs and I4Bs with BRNs? I thought it was you.

Oh well . . . you're stuck with it Dan . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #72,272
  • Aug 19, 2010 10:21pm Aug 19, 2010 10:21pm
Quoting jarroo
Commented I this one a few post earlier Pb.

Missed that or at least I did not realize the comment was about USD/CAD.

Yeah, I flipped out again.

More videos to bring me back to earth.
  • #72,273
  • Aug 19, 2010 10:28pm Aug 19, 2010 10:28pm
Quoting cprao
It's a good BEOB at
swing high
61.8% retracement
Broke through BRN 10500

But the close is not good.

Did not break the consolidation.
A close below 10240 (around 10190) would have been a good bar to short it.

Any thoughts ?
I like the Size of the BEOB. Yes the close below the 10240 would make a difference in strength. That FTA at about the 10150 would concern me.

Nice analysis cprao.
Indicators show the past. Price Action "Indicates" the future.
  • #72,274
  • Aug 19, 2010 10:28pm Aug 19, 2010 10:28pm
Quoting jarroo
Yes, I usually do wait for the break depending on the setup. But when you watch Price behave after a setup is formed, such as a Outside Bar, and see retrace to its previous bar High or Low its a good sign that a good break is coming and the setup is correct. But a break of the setup validates the setup.

Well Jarro. Sorry little confused.

1) Scenario 1-
A) Good BEOB/BUOB on daily/weekly.
B) Broke the setup (went in the direction of the bar by 1 to 10 pips).
C) Retraced either to previous low/high or confluence or consolidation.
D) On lower time frames, PA has formed (PB or BUOB/BEOB)
E) Step D validates daily/weekly BEOB/BUOB and provides confirmation for a trade. (Assuming you are not running into resistance and FTA is clear, space is there and etc..)

2) Scenario 2-
A) Good BEOB/BUOB.
B) Retraced either to previous low/high or confluence or consolidation
WITHOUT breaking the setup.
C) On lower time frames, PA has formed (PB or BUOB/BEOB)
D) Step C validates and provides confirmation to go for a trade (Assuming you are not running into resistance and FTA is clear, space is there and etc..)

Jarroo,
Question 1:
which one is a better one ? Scenario 1 or 2 ? or it depends on situation ?

Question 2: You refer about "hardbreak" mltiple times.. How do we recognize that ?

Please, your thoughts?
  • #72,275
  • Aug 19, 2010 10:29pm Aug 19, 2010 10:29pm
Quoting Pinbar
Missed that or at least I did not realize the comment was about USD/CAD.

Yeah, I flipped out again.

More videos to bring me back to earth.

What did you think of the Usd/Chf 4 hour Outside Bars Pb? See any differences and things in common between the two?
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Indicators show the past. Price Action "Indicates" the future.
  • #72,276
  • Aug 19, 2010 10:38pm Aug 19, 2010 10:38pm
Quoting jarroo
I like the Size of the BEOB. Yes the close below the 10240 would make a difference in strength. That FTA at about the 10150 would concern me.

Nice analysis cprao.
Thank you Jaroo. Are you talking about the bar that shown with blue arrow that concerns you .
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  • #72,277
  • Aug 19, 2010 10:42pm Aug 19, 2010 10:42pm
Both these has good BEOB's at swing high and at good retracement levels.

Too bad none of them closed below BRN. But great to watch them.
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  • #72,278
  • Aug 19, 2010 10:44pm Aug 19, 2010 10:44pm
Quoting cprao
Thank you Jaroo. Are you talking about the bar that shown with blue arrow that concerns you .

Yes that's the one. . .

. . .still working on your scenarios . . give me a mintue.
Indicators show the past. Price Action "Indicates" the future.
  • #72,279
  • Aug 19, 2010 10:46pm Aug 19, 2010 10:46pm
Quoting jarroo
Yes that's the one. . .

. . .still working on your scenarios . . give me a mintue.
Thank you Jarroo. Appreciated.
  • #72,280
  • Aug 19, 2010 10:52pm Aug 19, 2010 10:52pm
something from the stock-market.
daimler on daily. beob engulfing two candles. closed below rn 40 eur.
may be good for 1,50 euro.

comments appreciated...
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