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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

  • #72,441
  • Aug 21, 2010 4:14pm Aug 21, 2010 4:14pm
I'm long already off the 4/8hr pinbar. Yes there is traffic on the left but the location is too good to ignore imo. A tight trade management will be applied.
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  • #72,442
  • Aug 21, 2010 4:18pm Aug 21, 2010 4:18pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
I see a higher than usual number of pin bars, IBs, and triple low closes on daily charts this weekend.

Pros: Nice long wick to PB. Broke BRN of .8900 and bounced back. Hit 150 EMA and bounced back. Almost equal low point compared to Monday bar. At a retracement from a swing high. Bullish Pin Bar on Friday 4H chart. No nearby FTA that I can see.

Cons: Not at a true swing low. No Fib confluence.

FTA at ~ .9025.
What am I missing? Thanks.
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  • #72,443
  • Aug 21, 2010 4:41pm Aug 21, 2010 4:41pm
Quoting jarroo
Wow . .cool post cprao . . ..Thanks.


Here's another example . .on the Daily Aud/Usd BUOB back in June of this year.

Daily BUOB at a swing low.

Price retraces to the previous bar High level. Notice I also put a line (green line) at that Daily low, why? Because its at the previous bar High level.

4 Hour chart shows a BUOB at this Level (previous bar high of the Daily BUOB).

Notice that Price retraces to the previous bar high on the 4 hour BUOB.

pretty cool huh?

Cool. Another great demonstration, Jarroo.
  • #72,444
  • Aug 21, 2010 4:43pm Aug 21, 2010 4:43pm
Quoting jarroo
The Weekly Nzd/Usd IPB looks pretty good.

The IBFX feed shows its bullishness better.
Good evening Master Jarroo,
If you allow me to share you my humble opinion about the kiwi on the weekly chart. Lemme explain what I see. Somewhere mid may Kiwi broke downwards out of a range between the 7440 and 6800, but found support at an previous range-resistance at the 6600 and has since been making higher highs and lows along a TL. Price trended back into the range and made it to 7400 just below the resistance of the range. During the week before last week (W32) price broke the TL via a big red bar. Last week (W33) price pulled back to the low of weekly bar W30 at the 7200-ish within 2 pips via a IPB like bar ! I view this rejection bar as a pullback to the broken TL, so my quess is that price will now be ready to revisit the support of the range at
the 6800. So Jarroo another different view on the kiwi, please comment on this one. B.W. I've set a sell stop a few pips below the BRN 7000.http://cdn.forexfactory.com/images/icons/icon10.gif

May the force be with you,
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Pipcrawler
  • #72,445
  • Aug 21, 2010 5:01pm Aug 21, 2010 5:01pm
Quoting jdl
I see a higher than usual number of pin bars, IBs, and triple low closes on daily charts this weekend.

Pros: Nice long wick to PB. Broke BRN of .8900 and bounced back. Hit 150 EMA and bounced back. Almost equal low point compared to Monday bar. At a retracement from a swing high. Bullish Pin Bar on Friday 4H chart. No nearby FTA that I can see.

Cons: Not at a true swing low. No Fib confluence.

FTA at ~ .9025.
What am I missing? Thanks.
Hi jdl,

I have my eye on this one aswell. On my chart I have a FTA at the monthly pivot level of 0.7148. Will probably take it tomorrow even though it is not A+.
Have been trying to decide between this PB and AUD/USD PB and the NZD/JPY PB.

Any other views?
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"Fail to prepare, prepare to fail."
  • #72,446
  • Aug 21, 2010 5:35pm Aug 21, 2010 5:35pm
Quoting jarroo


Don't forget the Monthly . .
You are absolutely correct....Monthly so important and should have been mentioned as you so astutely have shown.

Thanks for the all important reminder

Bill
  • #72,447
  • Aug 21, 2010 8:08pm Aug 21, 2010 8:08pm
Quoting Eklavya
Should make it at least to 8900 and then to 8865...
The PB did what we thought it'd do...I am out at BE here...
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  • #72,448
  • Aug 21, 2010 8:33pm Aug 21, 2010 8:33pm
Thanks Pocrel,
CP
  • #72,449
  • Aug 21, 2010 11:00pm Aug 21, 2010 11:00pm
Quoting mbqb11
Hey J

I caught this one off the 30 m this morning
Mike,
even tough the close on the BEOB was strong, there is plenty of traffic on the left, therefore, can you share the reasons for taking the short trade.

Cheers
Novice 198
  • #72,450
  • Aug 22, 2010 1:43am Aug 22, 2010 1:43am
Quoting ghous
Cad/Yen 4H.

Now that's what I call A+

g.
Hi Ghous,
I am confused now when you say that this was A+ setup. The PB low was 82.65 and if we keep a 5 pip buffer the entry would be 82.60 and FTA at 82.46. That is 14 pips profit including the spread for a risk of about 45 pips (SL @ 83.05).
Am I missing something here

Cheers
Novice 198
  • #72,451
  • Aug 22, 2010 4:47am Aug 22, 2010 4:47am
Quoting novice198
Hi Ghous,
I am confused now when you say that this was A+ setup. The PB low was 82.65 and if we keep a 5 pip buffer the entry would be 82.60 and FTA at 82.46. That is 14 pips profit including the spread for a risk of about 45 pips (SL @ 83.05).
Am I missing something here

Cheers
Novice 198
Im no expert but i think hes talking about the DHLC, marked with an arrow on the chart. Bar is breaking support at the round number 83.00 and price clearly have respect for that area. Theres also a downtrend and we are still making lower highs. I dunno, but thats how I would analyze it anyway
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  • #72,452
  • Aug 22, 2010 4:50am Aug 22, 2010 4:50am
This one really looks as it is going DOWN from here
Oh well lets see

http://cdn.forexfactory.com/attachme...1&d=1282466220
  • #72,453
  • Aug 22, 2010 5:38am Aug 22, 2010 5:38am
Quoting mbqb11
I can't keep up with James though

it certainly was a cool gift

I started working on my chicken legs, I can barely walk over the last few weeks. Sore as hell.
Indicators show the past. Price Action "Indicates" the future.
  • #72,454
  • Edited 6:40am Aug 22, 2010 5:41am | Edited 6:40am
Quoting artov
I'm long already off the 4/8hr pinbar. Yes there is traffic on the left but the location is too good to ignore imo. A tight trade management will be applied.

Looks like it reached its initial target . . may be some retracement or pull back coming. Other then that, it looks good artov.
Indicators show the past. Price Action "Indicates" the future.
  • #72,455
  • Aug 22, 2010 5:52am Aug 22, 2010 5:52am
Quoting jdl
I see a higher than usual number of pin bars, IBs, and triple low closes on daily charts this weekend.

Pros: Nice long wick to PB. Broke BRN of .8900 and bounced back. Hit 150 EMA and bounced back. Almost equal low point compared to Monday bar. At a retracement from a swing high. Bullish Pin Bar on Friday 4H chart. No nearby FTA that I can see.

Cons: Not at a true swing low. No Fib confluence.

FTA at ~ .9025.
What am I missing? Thanks.

Maybe a bit bigger in Size . .that's all I seeing that's missing.

I like the support of the Highs at the .8850 (white) and your .8900 Lows (white). The .9000 looks like a good target.

Looks good jdl.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,456
  • Edited 6:41am Aug 22, 2010 6:10am | Edited 6:41am
Quoting xmzhang
Good evening Master Jarroo,
If you allow me to share you my humble opinion about the kiwi on the weekly chart. Lemme explain what I see. Somewhere mid may Kiwi broke downwards out of a range between the 7440 and 6800, but found support at an previous range-resistance at the 6600 and has since been making higher highs and lows along a TL. Price trended back into the range and made it to 7400 just below the resistance of the range. During the week before last week (W32) price broke the TL via a big red bar. Last week (W33) price pulled back to the...
Price has been trending up nicely over last few months not just on the kiwi but many pairs (GU, EU, etc.,). This trend may be continuing upward.

The .7000 is a Strong BRN, what makes it stronger is that its a PPZ level and that its lining up or confluencing with the 50% retracement.

BRN, PPZ Level and at a Retracement Level (50% ret). This is a strong confluenced level. It is where touch trades are taken. I don't suggest doing that. PA confirmation is need to be sure. I see more up movement with this pair. The bullish IPB maybe its trigger . .we shall see.

An entry below the .7000 is not a bad way to go. But I would wait for a break out and then pull back or retest of the .7000 (red lines) just to confirm that the .7000 is now acting as strong Resistance instead of acting as strong Support that its currently doing.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,457
  • Aug 22, 2010 6:13am Aug 22, 2010 6:13am
Quoting Eklavya
The PB did what we thought it'd do...I am out at BE here...
It sure did . . hit its target, previous bar low, very nice.

Did you capture any pips before the break even ?
Indicators show the past. Price Action "Indicates" the future.
  • #72,458
  • Aug 22, 2010 6:22am Aug 22, 2010 6:22am
Quoting Adilius07
This one really looks as it is going DOWN from here
Oh well lets see

Looks good Adilius.

I love those Pin Bar looking Outside Bars.

Size looks good. Check out the size of that Weekly BEOB at the beginning of the year. Nice.

I like that the entry point is below the previous bars Highs in white.

Also, check out the Monthly . . notice that the current (Pinbar looking) BEOB is off the previous bar Low of the BIG Monthly BEOB of the beginning of the year . . interesting . . don't you think . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #72,459
  • Aug 22, 2010 6:24am Aug 22, 2010 6:24am
Quoting jarroo
Maybe a bit bigger in Size . .that's all I seeing that's missing.

I like the support of the Highs at the .8850 (white) and your .8900 Lows (white). The .9000 looks like a good target.

Looks good jdl.
I see 3 possible daily pins. AUDUSD, NZDUSD, NZDJPY.
I've chosen NZDJPY.
  • #72,460
  • Aug 22, 2010 6:30am Aug 22, 2010 6:30am
Quoting jarroo
Looks good Adilius.

I love those Pin Bar looking Outside Bars.

Size looks good. Check out the size of that Weekly BEOB at the beginning of the year. Nice.

I like that the entry point is below the previous bars Highs in white.

Also, check out the Monthly . . notice that the current (Pinbar looking) BEOB is off the previous bar Low of the Monthly BEOB of the beginning of the year . . interesting . . don't you think . . .
Jarroo thank you for your analysis!! I din't even look at monthly. Wow I should learn to do that. I am worried about this consolidation area which you marked on WEEKLY chart, yes it is closed below the highs of it but still kinda in the middle of it. But I hope that is "not recent" consolidation, so maybe price would have less trouble with it.

My main "view" was that this year is just one big range and we are now at the top of this range.

The most amazing thing is that I can now see that this method DOES WORK with stocks!!! Amazing!!! All I need to do is to learn the how to use it right, that's all

EDIT: It is interesting but if you look at StockCharts.com it is slightly different picture than in my platform. Or Jarroo's platform. hmm..
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