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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

  • #75,661
  • Edited 9:21am Sep 27, 2010 8:49am | Edited 9:21am
Hey guys,
Now asking seniors to especially look at charts for me would be folly.
So here is my chart.

http://img178.imageshack.us/img178/2037/eurgbpchart.gif

The 200 SMA is right there around .8545 and also i see it capping the top around 0.8545
And also there is 200 EMA at 0.8488.
And 0.8500 is a good support level.
Price is forming a symmetrical triangle like formation on 4 hourly chart.
The daily bar at present is looking more like a small pinish bar.
But it should be more like a BUOB or BEOB before tomorrow inorder for anyone to take the setup as breakout.
The trendline's forming the triangle has been touched 3 times on one and 2 on the other,is it promising enough.

Now here is my question for Mike the bar on daily has not closed yet but looks pinish ,but i know is grade C bar does not have big nose,and is in traffic.
But as we have a 200 EMA right down there and the tip of the pin bar also,so can we play this bar as is if it closes as pinbar placing a stop below this bar or around the down cap at .8490.

Or is just play a break of this triangle to the down side,because this whole move looks like a big wedge or channel to some extent and there is 365 up there.
Regards
Taz
  • #75,662
  • Edited 9:10am Sep 27, 2010 8:52am | Edited 9:10am
GU BUOB wasn't that bullish.
  • #75,663
  • Sep 27, 2010 8:56am Sep 27, 2010 8:56am
Quoting 666Doom
Hey guys,
Now asking seniors to especially look at charts for me would be folly.
So here is my chart.

http://img178.imageshack.us/img178/2037/eurgbpchart.gif

The 200 SMA is right there around .8545 and also i see a 365 EMA capping the top above 0.8570.
And also there is 200 EMA at 0.8488.
And 0.8500 is a good support level.
Price is forming a symmetrical triangle like formation on 4 hourly chart.
The daily bar at present is looking more like a small pinish bar.
But it should be more like a BUOB or BEOB before tomorrow inorder for anyone...
I believe we have a series of IBs. I posted about this trade here: link
  • #75,664
  • Edited 9:14am Sep 27, 2010 8:58am | Edited 9:14am
ANAD (Anadigics, Inc) w1/d1
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  • #75,665
  • Sep 27, 2010 9:03am Sep 27, 2010 9:03am
Quoting ppfx
I believe we have a series of IBs. I posted about this trade here: link
Thank you ppfx,i saw that post earlier.
I know any bar still inside the others wont be called anything but inside bars.

But don't you think a I4 B in triangle pattern would be actually a triangle on smaller TF.
But would you be long or short,and am i right.
IDK sometimes it feels like there are not enough trades.

The GU BUOB on 4hr chart was not so bullish but still you posted it.
Was that a failed example,it is already going down,it couldn't make it up.

Regards
Taz
  • #75,666
  • Sep 27, 2010 9:15am Sep 27, 2010 9:15am
Quoting supremeChaos
i probably wouldnt have taken this trade because of the size of the pin & location. (& i believe there were better trades during that time, if im not mistaken)
but what i like is the small risk (small pin = small risk)
i just hope u dont go on taking small pins like that always.
always be aware of PA, location, S/R...& u'll be ok, john
Ok thanks supreme Chaos

I will now take a better look on the size of the PB. Do you guys have a small tipp how big the PB should be?
  • #75,667
  • Sep 27, 2010 9:16am Sep 27, 2010 9:16am
Quoting 666Doom
Hey guys,
...
i dont see a pinbar on your daily chart.
the last bar looks like one but it's very small.
can u kindly post the daily & H4 chart with the details u mention (pinbar, MAs, etc)?
ihave been bullish eurgbp (may find that particular post later). still am. above 0.8500 close today is a plus, but i still see possibility of revisiting 0.8400 area.
  • #75,668
  • Sep 27, 2010 9:19am Sep 27, 2010 9:19am
Quoting 666Doom
...
But don't you think a I4 B in triangle pattern would be actually a triangle on smaller TF.....
if i may...
it actually is

Quoting john225
....
I will now take a better look on the size of the PB. Do you guys have a small tipp how big the PB should be?
there is no general rule about the size.
dont get me wrong, i take small pins
i just dont want u to get too comfortable &take all the (small) pins that u see.
PA size is just 1 part of the equation.
location is more important than PA size.
  • #75,669
  • Sep 27, 2010 9:28am Sep 27, 2010 9:28am
A BEOB just formed on the H1 EURUSD chart. Anyone else checking this out?It's bouncing off BRN 3.50000.
To see what is in front of one's nose needs a constant struggle.
  • #75,670
  • Sep 27, 2010 9:30am Sep 27, 2010 9:30am
Why did I never see Pivot points on your charts guys ?

Isn't it good confluence zones ?

I espect a quick answer from supremeChaos, this guy is too fast
  • #75,671
  • Sep 27, 2010 9:32am Sep 27, 2010 9:32am
Quoting supremeChaos
i dont see a pinbar on your daily chart.
the last bar looks like one but it's very small.
can u kindly post the daily & H4 chart with the details u mention (pinbar, MAs, etc)?
ihave been bullish eurgbp (may find that particular post later). still am. above 0.8500 close today is a plus, but i still see possibility of revisiting 0.8400 area.
I see it sir,the only fall is going to be till 0.8400,but the upward trend in EUR/GBP seems to be going in a trend channel manner.
The Fall below 61.8 Fib retracement on the very first run down during July and august kind of signaled it is channel, don't you think

And yes i screwed there is no 365 up there i was looking at other chart.
But there is 200 SMA and 200 EMA, doesn't matter they are always close to each other,but they are on daily.

Yeah the bar is a very small pinish bar and more ti it has not closed yet.

I rather see a well defined shape on 1 hr chart of the triangle.
Here is my chart.

http://img375.imageshack.us/img375/6130/triangle.gif
  • #75,672
  • Edited 9:36am Sep 27, 2010 9:35am | Edited 9:36am
Quoting Noses&Sight
A BEOB just formed on the H1 EURUSD chart. Anyone else checking this out?It's bouncing off BRN 3.50000.
Based on your question, i want to answer with a question:
have u been trading the H4 & up timeframe trading recommendation? (J16 minimum requirements on the first post)

ok.... a more direct answer:
not every PA, no matter how big or small, is tradable.
PA is just 1 part of the equation.
location, S/R, PPZs are too.
  • #75,673
  • Sep 27, 2010 9:42am Sep 27, 2010 9:42am
Quoting 666Doom
I see it.....
Yeah the bar is a very small pinish bar and more ti it has not closed yet.
..
I rather see a well defined shape on 1 hr chart of the triangle.
....
u can trade that H1 triangle as a breakout + pullback (breakout of the triangle, on 1 side, then price pulls back to the trendline it broke).
if u are unsure/uncomfortable, then better to wait for that daily bar to form completely.

also, i humbly pose the same question/suggestion to u:
if u havent yet, read more of the thread &/or trade more strictly from H4 & up to develop patience&experience.

Hope this helps,Sir
  • #75,674
  • Sep 27, 2010 9:42am Sep 27, 2010 9:42am
Quoting Noses&Sight
A BEOB just formed on the H1 EURUSD chart. Anyone else checking this out?It's bouncing off BRN 3.50000.
Look on 4 hr TF it is a BUOB on 4 hr,more to it is not quite good but it is BUOB.
Sp fight between 1 hr TF and 4 hr TF 1 hr TF will loose.
Regards
Taz
  • #75,675
  • Edited 9:46am Sep 27, 2010 9:45am | Edited 9:46am
Quote
Failure is the mother of success: learn from 'her'
I just did.
  • #75,676
  • Sep 27, 2010 9:48am Sep 27, 2010 9:48am
Hey SupremeChaos

I am not actually trading but just watching. I only paper trade Daily charts, and watch H4 and H1 charts for how setups play out.

I was only posting to see what some of the reactions to the set up are.

I appreciate you looking out though, and I understand the whole 'Not just the Bar, but also the PPZ idea. Figured the 3.50 might be a strong resistance point and a BEOB off such a point might be worth watching.

Thanks
To see what is in front of one's nose needs a constant struggle.
  • #75,677
  • Sep 27, 2010 9:53am Sep 27, 2010 9:53am
Quoting 666Doom
Thank you ppfx,i saw that post earlier.
I know any bar still inside the others wont be called anything but inside bars.

But don't you think a I4 B in triangle pattern would be actually a triangle on smaller TF.
But would you be long or short,and am i right.
IDK sometimes it feels like there are not enough trades.
The GU BUOB on 4hr chart was not so bullish but still you posted it.
Was that a failed example,it is already going down,it couldn't make it up.

Regards
Taz
Well i didnt posted it because of the BUOB, but because of the location. That's why i also posted the weekly and daily TF, to show you that the PPZ holds. You know, you have first to find a good location and when you find it than look for PA.

And about the EG pair. All i wanted to say is that is more safe to wait for the price to break the triangle. Because all the trades you take inside the triangle you have to be aware that the FTA are the borders of the triangle.

Hope i explained it well. If not ask again.
  • #75,678
  • Sep 27, 2010 9:53am Sep 27, 2010 9:53am
Quoting supremeChaos
u can trade that H1 triangle as a breakout + pullback (breakout of the triangle, on 1 side, then price pulls back to the trendline it broke).
if u are unsure/uncomfortable, then better to wait for that daily bar to form completely.

also, i humbly pose the same question/suggestion to u:
if u havent yet, read more of the thread &/or trade more strictly from H4 & up to develop patience&experience.

Hope this helps,Sir
Well sir i don't trade any setup below 4 h,but good advice though.
Regards
Taz
  • #75,679
  • Sep 27, 2010 9:57am Sep 27, 2010 9:57am
Quoting ppfx
Well i didnt posted it because of the BUOB, but because of the location. That's why i also posted the weekly and daily TF, to show you that the PPZ holds. You know, you have first to find a good location and when you find it than look for PA.

And about the EG pair. All i wanted to say is that is more safe to wait for the price to break the triangle. Because all the trades you take inside the triangle you have to be aware that the FTA are the borders of the triangle.

Hope i explained it well. If not ask again.
Big Truth,you are as clear as daylight.

Now i have been reading this thread and found out that,you don't consider friday bars good enough.
Is there any specific reasons other then profit taking.

Because any swing trader won't care if it is friday,or tuesday.But he will care if the price reaches a BRN on friday.
Waiting to hear more from you ppfx.
Regards
Taz
  • #75,680
  • Sep 27, 2010 10:01am Sep 27, 2010 10:01am
Quoting Noses&Sight
....
I was only posting to see what some of the reactions to the set up are.
....
I appreciate you looking out though, and I understand the whole 'Not just the Bar, but also the PPZ idea. Figured the 3.50 might be a strong resistance point and a BEOB off such a point might be worth watching.
..
i see.
1.3500 may be a strong resistance.
but try to look at it with a context of the price situation & location (current uptrend; S/R, PPZ etc).
price doesnt move straight in 1 direction.... & we either zigzag up or zigzag down, or range.
we either break 1.3500 sooner or later & continue the uptrend. or go down starting from that H1 BEOB u mentioned. or range.
we will see soon.
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