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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

  • #74,341
  • Sep 8, 2010 7:34pm Sep 8, 2010 7:34pm
Quoting mbqb11
hahaha are u kidding me. I must be pure NY b/c what the heck do you do with that thing.

How do you get a sound sleep with that thing in the house . . one eye open I guess . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #74,342
  • Sep 8, 2010 9:04pm Sep 8, 2010 9:04pm
Quoting jarroo
Interesting where Price found Support when it did pull back.
Is this now a setup for a BEOB or should we look for a bigger bear bar compared to the previous bull bar?
  • #74,343
  • Sep 8, 2010 9:22pm Sep 8, 2010 9:22pm
Just wonder what your comments are on this 3 PB potential setup?
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  • #74,344
  • Sep 8, 2010 9:27pm Sep 8, 2010 9:27pm
Quoting spookie94
Just wonder what your comments are on this 3 PB potential setup?
could be that buyers are ready to come in, but there is some extreme prior support it would be trading into. Look at those 4 lows, that can't be ignored. When price can close above this area, and pulls back, I would bet that it finds support again there. Not wrong to trade these and see if it can break through but I never feel comfortable trading right into that.

Good area to watch though
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  • #74,345
  • Sep 8, 2010 9:40pm Sep 8, 2010 9:40pm
Quoting mbqb11
I would be careful here. Price is coming off a strong move from a very over sold and choppy market. This is very late in the day to be taking a trade and the only momentum you might get is just profit taking and people closing up shop for the day/weak selling. This makes me think FTA has to be watched very carefully. This is an easy pass as I think it makes mgmt very difficult
made it to the FTA but no surprise to see us bouncing. Real tough trade to manage then if you take it from that tmie of day. I want to see the BRN retested again and some strong Bars occurring in the main sessions. I still prefer to the upside as managing is easier. Any downside needs to be played very tightly
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  • #74,346
  • Sep 8, 2010 9:51pm Sep 8, 2010 9:51pm
Quoting mbqb11
could be that buyers are ready to come in, but there is some extreme prior support it would be trading into. Look at those 4 lows, that can't be ignored. When price can close above this area, and pulls back, I would bet that it finds support again there. Not wrong to trade these and see if it can break through but I never feel comfortable trading right into that.

Good area to watch though
I see that S/R area. My thought was to wait for a break of the 2nd pb and the trend line. That way it is several pips past that support area. Could make it possible to play it with tight SL just below that area around the open/close of the 3 PB. One thing I don't like though is the steep trend. IMO they tend to be weaker S/R levels. Like you said, good area to watch.
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  • #74,347
  • Sep 8, 2010 10:28pm Sep 8, 2010 10:28pm
Quoting mbqb11
made it to the FTA but no surprise to see us bouncing. Real tough trade to manage then if you take it from that tmie of day. I want to see the BRN retested again and some strong Bars occurring in the main sessions. I still prefer to the upside as managing is easier. Any downside needs to be played very tightly

Mike, I know I am still a little confused with PA yet, I can't help thinking this FXDD feed sucks and doesn't help matters at all.

I mean, your feed has a decent PB while my feed has nothing other than this IB straddling the 150 ema.

What I mean is, I know this setup was not a brilliant setup in the first place but, had it been a good setup, which PA would have gotten your preference.
The PB or the IB? I think the shape of this PB is not good at all on my feed.
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  • #74,348
  • Sep 8, 2010 10:32pm Sep 8, 2010 10:32pm
Quoting Pinbar
Mike, I know I am still a little confused with PA yet, I can't help thinking this FXDD feed sucks and doesn't help matters at all.

I mean, your feed has a decent PB while my feed has nothing other than this IB straddling the 150 ema.

What I mean is, I know this setup was not a brilliant setup in the first place but, had it been a good setup, which PA would have gotten your preference.
The PB or the IB? I think the shape of this PB is not good at all on my feed.
Well I don't trade inside bars much so certainly the PB more so. I watch 4 feeds as I previously talked about probably 20-30 pages now at this point lol. All a feed does is aggregate these different timeframes so you can get a different view of historical price. There are times when your feed will show something another feed will not. This is also why the emphasis must be on the make up of the bar(closes, highs/lows) and more importantly the location. I use 4 feeds (fxcm, fxpro, alpari-uk, IBFX) currently. Just gives me some different perspectives when I am pinpointing entries

Best
Mike
  • #74,349
  • Sep 8, 2010 10:35pm Sep 8, 2010 10:35pm
Quoting mbqb11
Well I don't trade inside bars much so certainly the PB more so....
Thanks Mike

Four different feeds, that would certainly confuse me even further and may cause me to curve fit.

So, you don't think this feed is that bad?
  • #74,350
  • Sep 8, 2010 10:38pm Sep 8, 2010 10:38pm
Quoting Pinbar
Thanks Mike

Four different feeds, that would certainly confuse me even further and may cause me to curve fit.

So, you don't think this feed is that bad?
nope not at all, I think it is fine to play it as you see it. Since I am very picky it doesn't add much confusion into the matter since I am mostly passing on things
  • #74,351
  • Sep 8, 2010 11:07pm Sep 8, 2010 11:07pm
Quoting mbqb11
nope not at all, I think it is fine to play it as you see it. Since I am very picky it doesn't add much confusion into the matter since I am mostly passing on things

Thanks for clearing that up Mike.

Could be the poor craftsman trying to blame his tools sketch. LOL
  • #74,352
  • Sep 8, 2010 11:11pm Sep 8, 2010 11:11pm
Hey Mike,

Long time since I posted so I thought I'd bug you with a question that I have wanted to ask for quite some time.

When a bar spans several BRN's which one takes precedence in the case
of preferring a bars close above or below a BRN. IE the BEOB with the blue arrow. High 1.0508 and a low of 1.0345 close 1.0384.

Would this be considered to have closed below the BRN 1.04?

I should probably know this as long as I have been around, but hey,
I'm a slow learner. LOL
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  • #74,353
  • Sep 8, 2010 11:24pm Sep 8, 2010 11:24pm
Quoting spookie94
Is this now a setup for a BEOB or should we look for a bigger bear bar compared to the previous bull bar?

Not sure I understand what your asking , sir?
Indicators show the past. Price Action "Indicates" the future.
  • #74,354
  • Sep 8, 2010 11:30pm Sep 8, 2010 11:30pm
Quoting tubguy
Hey Mike,

Long time since I posted so I thought I'd bug you with a question that I have wanted to ask for quite some time.

When a bar spans several BRN's which one takes precedence in the case
of preferring a bars close above or below a BRN. IE the BEOB with the blue arrow. High 1.0508 and a low of 1.0345 close 1.0384.

Would this be considered to have closed below the BRN 1.04?

I should probably know this as long as I have been around, but hey,
I'm a slow learner. LOL
Hey Tub

I am a bit different then most. The term BRN actually stemmed from my use of them with the Biggest of the round numbers which I consider every 500 pips. So in the case of the usd/cad this is going to be 1.0500, 1, .9500 etc. So there was the BEOB from 3 days back as well as today.So my focus is actually on this 1.0500. I am not sure if you saw but I posted up both here and the PF the 4hr beob I took off this area. Now the real issue is that overall this market is killer killer choppy so you have to be quick. We also have a weekly beob, so the overall sentiment even in this chop would still be down in my eyes. I don't have a beob from yest(diff feed), but the cad still feels as if it wants to strengthen. I wonder if this beob will get us out of it. Lots of problem areas on the way but if this low give 1.0300 should come.

Hope I understood your question so basically for me the Biggest of the RNs are the key and then I begin to use those other RNs for trade mgmt and entry/stop placement

Mike
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  • #74,355
  • Sep 8, 2010 11:32pm Sep 8, 2010 11:32pm
Quoting Pinbar
Thanks Mike

Four different feeds, that would certainly confuse me even further and may cause me to curve fit.

So, you don't think this feed is that bad?

Quoting mbqb11
Well I don't trade inside bars much so certainly the PB more so. I watch 4 feeds as I previously talked about probably 20-30 pages now at this point lol. All a feed does is aggregate these different timeframes so you can get a different view of historical price. There are times when your feed will show something another feed will not. This is also why the emphasis must be on the make up of the bar(closes, highs/lows) and more importantly the location. I use 4 feeds (fxcm, fxpro, alpari-uk, IBFX) currently. Just gives me some different perspectives...

Remember Pb, the PPZ levels and BRNs do not change on different data feeds. Meaning the Highs and Lows, that make up PPZ levels, are pretty much the same on all feeds. And, of course the BRNs.

So if we look for PA on different feeds, with Price chopped up differently we may get a different look of how Price Action is forming at these levels on the same time frame.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,356
  • Sep 8, 2010 11:35pm Sep 8, 2010 11:35pm
Quoting jarroo
Remember Pb, the PPZ levels and BRNs do not change on different data feeds. Meaning the Highs and Lows, that make up PPZ levels, are pretty much the same on all feeds. And, of course the BRNs.

So if we look for PA on different feeds, with Price chopped up differently we may get a different look of how Price Action is forming at these levels on the same time frame.

Ok . .I threw in the 8 Hour time frame on the GU . .just to see if you're paying attention.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,357
  • Sep 9, 2010 12:07am Sep 9, 2010 12:07am
Yeah, I caught the H8 at first glance.

Hmm, while the PPZ and BRNs will indeed be the same, what is not the same is that the PA is not as definitive. As Mike mentioned he does not trade IB, then my feed would not be a trade.

I realize it is up to us as to which PA we trade, I am just a little concerned that I may see less good setups on this feed and feel checking out 4 different feeds right now, is just too much.

I think the FX pro feed is the closest to my FXDD.
That said, I understand the PPZ and RNs being the most important, I think.

Very cool how you have 4 different feeds active in one MT4 window.

Thanks Jarroo
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  • #74,358
  • Sep 9, 2010 12:23am Sep 9, 2010 12:23am
Quoting Pinbar
Yeah, I caught the H8 at first glance.

Hmm, while the PPZ and BRNs will indeed be the same, what is not the same is that the PA is not as definitive. As Mike mentioned he does not trade IB, then my feed would not be a trade.

I realize it is up to us as to which PA we trade, I am just a little concerned that I may see less good setups on this feed and feel checking out 4 different feeds right now, is just too much.

I think the FX pro feed is the closest to my FXDD.
That said, I understand the PPZ and RNs being the most important, I think....

You may want to look at maybe just one more feed just for a different look at PA at your predetermined PPZ levels and BRNs. Like IBFX or Alpari, and do some exercises like Adilius did on this post:

Quoting Adilius07
I'm doing some analysis on boubs/beobs ONLY.

First I just took some daily pair, and marked ALL signal bars I see FOR THIS YEAR.
That gave me 15 winners 4 Loosers

Second, I erased those that appeared more as continuation and not at their swings. That gave me 8 winners and 1 looser.

Given that RR is UNKNOWN. (full bar loss and exit at FTA) I see the second option is much better.

Also, I noticed that trying to filter out for A+ Only (on the second option) I would just filter out some winners! Look at the looser here, it looks...

Location and their confluences are indeed the most important, PB. 2nd, is the PA.

The 5 different feeds are not active in one MT4 window . . I just shrunk the Plats down and captured a picture of my desktop.
Indicators show the past. Price Action "Indicates" the future.
  • #74,359
  • Sep 9, 2010 12:27am Sep 9, 2010 12:27am
Quoting jarroo
You may want to look at maybe just one more feed just for a different look at PA at your predetermined PPZ levels and BRNs. Like IBFX or Alpari, and do some exercises like Adilius did on this post:




Location and their confluences are indeed the most important, PB. 2nd, is the PA.

The 5 different feeds are not active in one MT4 window . . I just shrunk the Plats down and captured a picture of my desktop.

I hear you Jarroo...I think I will open an IBFX demo and compare the PA.

Many thanks
  • #74,360
  • Sep 9, 2010 12:39am Sep 9, 2010 12:39am
Quoting Pinbar
Yeah, I caught the H8 at first glance.

Hmm, while the PPZ and BRNs will indeed be the same, what is not the same is that the PA is not as definitive. As Mike mentioned he does not trade IB, then my feed would not be a trade.

I realize it is up to us as to which PA we trade, I am just a little concerned that I may see less good setups on this feed and feel checking out 4 different feeds right now, is just too much.

I think the FX pro feed is the closest to my FXDD.
That said, I understand the PPZ and RNs being the most important, I think....

The IBFX feed looks about the same as with other feeds on the 4 hour Aud/Usd . . strong BUB breaking through previous bar highs. Coming up on some interesting levels.
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Indicators show the past. Price Action "Indicates" the future.
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