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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

  • #75,561
  • Sep 25, 2010 7:56am Sep 25, 2010 7:56am
at BRN
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  • #75,562
  • Sep 25, 2010 7:58am Sep 25, 2010 7:58am
Quoting Donkey
Thoughts on UJ next week?

Weekly shows that last weeks BUOB has retraced to previous bar high. Looks like a huge IPB on daily (too bad it's a Friday bar). Below the 84 RN would be a nice place to tuck a s/l for a long entry.
I wouldnt go long on this pair. We're in a huge downtrend and imho is better to look for some PA to go short.


Quoting roundrock
at BRN.

also this is inside bar to inside bar.
Looks good. Will be interesting to see it break.
  • #75,563
  • Edited 9:08am Sep 25, 2010 8:00am | Edited 9:08am
Quoting Pinbar
LOL

I hit it.....Don't hold your breath though, I could burst into flames at any moment doing an average of 12-15 hours a day on the PF.

I love it....Great place and even greater people.

And yes, this is a plug for the PF those people deserve the truth spoken about them as many in this thread speak about them.
OMG,.. when do you eat, sleep, go to work, etc.? You make me feel bad, cause i spent a lot less time for trading.
  • #75,564
  • Sep 25, 2010 8:27am Sep 25, 2010 8:27am
Quoting tradewiser
Hey Mike,
Do you still use any of the option strategies taught to you by darkstar?
Naj
Hey Naj

I use the knowledge of market microstructure more then anything. Gives you a better understanding of the whys behind price

Best
Mike
  • #75,565
  • Sep 25, 2010 8:30am Sep 25, 2010 8:30am
Quoting damien100
Mike
Can I just clarify, I either should have taken a break of the dbh (second bar a bullish PB) or entry above the following bar,either one or the other,

If that is what you mean I understand about tightening up, although I was also aware of the 1.4100...
Hey D

For the me that trendline is a bit too loose to have confidence in for me personally for a breakout + pullback. I look for more concrete obvious patterns to trade off . But if you believe in your trendline(which is up to trader) then it is valid to look for price action on the lower timeframe at the former breakout area, and/or(rarely do this anymore) buy a break of the highest point. Which would be a break of 4100 thus buying with the trend, and buying a new high put into the market.

Best
Mike
  • #75,566
  • Sep 25, 2010 8:36am Sep 25, 2010 8:36am
hello，Mike！！！you are a good teacher，，，i want to know when you see a PB in swing low，but after 2days it desnot breakout，will you wait for the PB to break until it works？？？
  • #75,567
  • Sep 25, 2010 8:49am Sep 25, 2010 8:49am
Quoting lucas101
hello，Mike！！！you are a good teacher，，，i want to know when you see a PB in swing low，but after 2days it desnot breakout，will you wait for the PB to break until it works？？？
Hey Lucas,

Thanks I don't know about that yet, just sharing my experience but thanks sir

I personally cancel my order if the next bar doesn't break the Price Action bar I am trading. I do that about 98% of the time. This is how I measure momentum especially for intraday trades, I want to see a follow through. But many here will let their orders sit for 2-3 bars after, so play around and see what is most comfortable for you.

Off to the gym have a great weekend
Mike
  • #75,568
  • Edited 9:37am Sep 25, 2010 9:18am | Edited 9:37am
Quoting ppfx

Looks good. Will be interesting to see it break.
About I4B's, I see Dan mastered this art.. I don't know how to understand/interpret PA action on I4B's. (Edited)

In case of EURGBP, I4B is formed above 8500 (BRN) but below the daily PPZ - 1.5300. So now how this will play out now ? any thoughts ?
  • #75,569
  • Sep 25, 2010 9:48am Sep 25, 2010 9:48am
Hi guys,

what do you think of this PB? Target @84ish... RR 1:1 though...



Thanks!
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Live it or leave it!
  • #75,570
  • Sep 25, 2010 10:34am Sep 25, 2010 10:34am
Quoting cprao
About I4B's, I see Dan mastered this art.. I don't know how to understand/interpret PA action on I4B's. (Edited)

In case of EURGBP, I4B is formed above 8500 (BRN) but below the daily PPZ - 1.5300. So now how this will play out now ? any thoughts ?
I dont play IBs so i dont know how to explain it well. I know that you buy or sell on the break of the last IB. Here, I think this post explains it well.

If you look at the chart you buy or sell at the break of the triangle and the FTA should be the red ones that i draw.

Hope this helps

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  • #75,571
  • Sep 25, 2010 10:37am Sep 25, 2010 10:37am
Quoting Slurpee
Hi guys,

what do you think of this PB? Target @84ish... RR 1:1 though...



Thanks!

yea looks defenetly interresting .. nice space .. swing high

also FTA is a Monthly PPZ @ 84.50 ish

will probably play it(demo) after a break of 85.50 wich is weekly PPZ ...

it also looks like its the end of a climax run .. after a (re)distribution phase
i mean it looks weak from a VSA perspective also ..


cheerz
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  • #75,572
  • Sep 25, 2010 11:30am Sep 25, 2010 11:30am
Quoting ppfx
I dont play IBs so i dont know how to explain it well. I know that you buy or sell on the break of the last IB. Here, I think this post explains it well.

If you look at the chart you buy or sell at the break of the triangle and the FTA should be the red ones that i draw.

Hope this helps

Attachment
Thank you. Yes. it helps.
  • #75,573
  • Sep 25, 2010 11:41am Sep 25, 2010 11:41am
Hi Everyone;

I'm sorry for posting such a generic query, but running searches I haven't found a direct reference to it, and it's been giving me some real grief for a month now.

I've been backtesting 2010 data for the first time the past couple months after a long break. Prior to which I'd backtested price action on the GBPJPY from 2005-2009 on the hourly charts with great results. But in 2010, it just fell apart. Whipsaws, fakeouts everywhere. I started racking up losses in January, and then again in May-August.

I've tried another currency, the GBPCHF, and experienced the same results--great clear up till January 2010, and then falls apart after. I've tried switching to the 4HR timeframe (which I like better for my schedule, but still, in 2010, it's back to the whipsaw action). My entries are already 40 pips out, and it's hard to picture moving them further out without getting too far away from my setups.

Has anyone else noticed these increased whipsaws in 2010? If so, what have some of you done to compensate for it? Does anyone have any ideas for other things I could modify to fix my problem? I've thought of testing out a totally new system, but it seems foolish to do so when this is still working great for so many people, and worked great for me for so long.

Thanks anyone for any suggestions, I really appreciate it.

Kyla
  • #75,574
  • Sep 25, 2010 12:06pm Sep 25, 2010 12:06pm
Quoting aserbfx
ads on weekly. stock is in a sideways market since about 4 months now. rejected once more from the 44 eur. forming a small pinbar. the bar itself is not that great, but the location is. sl above the resistance.
fta 40 euro. next 38,50 euro.
if it hits sl, you can long and play the breakout.
ads never fell under the low of the pinbar. so no trade here.
price broke the round number of 45 euro, but is still in the rectangle.
i would wait for a clear breakout out of this rectangle.
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meine augen sind die sterne
  • #75,575
  • Sep 25, 2010 1:33pm Sep 25, 2010 1:33pm
vodafone seems to be ready for a retrace.
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meine augen sind die sterne
  • #75,576
  • Sep 25, 2010 1:49pm Sep 25, 2010 1:49pm
Can someone post a chart with a really clear pin bar (no candle sticks please) with the eyes circled and a clear explanation of the entry to include which bar you would enter on. Please include where you would put your stop and TP. The chart could be an actual trade that soemeone took which would be more helpful.

Thanks.
  • #75,577
  • Sep 25, 2010 2:34pm Sep 25, 2010 2:34pm
Hi guys,
As i said i am new here,but here is my chart of Eur/Jpy.
Now the 113.00 level was good resistance,and may still be resistance now also.
Maybe we just see a rejection formation above 113 level and a pinbar formation on daily chart.
But i think that we may see consolidation between 113 and 114 and see a BUOB formation closing above 114 and then i will go long till 116.
As Eur/Jpy i believe is a potential long psychologically so we may see move above there only.

http://img823.imageshack.us/img823/6237/eurjpychart.gif


Four long Factors as i see:
1. BOJ intervention fears
2. The Consecutive three touches at 113 and importance of 114.
3. Breakout trade above 114 to 116.
4. 150 EMA right below 114.
What do you say,about this.
Then again i'm saying i'm newbie so don't push it, upon me.
  • #75,578
  • Sep 25, 2010 2:36pm Sep 25, 2010 2:36pm
let's see if siemens manage to break out. next stop will be the 100 eur.
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meine augen sind die sterne
  • #75,579
  • Sep 25, 2010 4:24pm Sep 25, 2010 4:24pm
in case you lads didnt know, James is being slated on t2win.

http://www.trade2win.com/boards/gene...ames-16-a.html
  • #75,580
  • Sep 25, 2010 6:08pm Sep 25, 2010 6:08pm
Quoting ppfx
OMG,.. when do you eat, sleep, go to work, etc.? You make me feel bad, cause i spent a lot less time for trading.
Plenty of time for eating and sleeping, but no time to go to work, so I don't.
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