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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

  • #75,781
  • Sep 28, 2010 4:11am Sep 28, 2010 4:11am
Quoting M.A.C.Doug
there is one thing better than this... What do you think?
sounds like a good 'ball pass'
  • #75,782
  • Sep 28, 2010 4:13am Sep 28, 2010 4:13am
Quoting Jonnyislost


Targeting the Daily bar lows in the white box 0.8450ish (if the order triggers within a reasonable time of course)
I was hoping for Hard Break/momentum follow through on this but we pulled back to the wedge already


I'm in Arizona now so my daytrading has become "night-trading"

There's your momentum breaking Jonny. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #75,783
  • Sep 28, 2010 4:13am Sep 28, 2010 4:13am
Quoting jarroo
Its a good confirmation when fxp is in the same trade . .
And I always like the Jarroo confluence
  • #75,784
  • Sep 28, 2010 4:14am Sep 28, 2010 4:14am
Did anyone took the daily BUOB on the Loonie for a quick ride towards the 10350 ? Entry was off the 1H-TF via another BUOB closing above the RNB @ 10300.

May the force be with you.
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Pipcrawler
  • #75,785
  • Sep 28, 2010 4:16am Sep 28, 2010 4:16am
Quoting anderou
Yip I should start looking at weekly and monthly.. yip nothing like confluence from LARGE time frames.
Price is nearly always going to bounce of these. Add confluence with other S/R and its the closest thing to a holy grail there is. Unfortunately, hardly anyone is prepared to wait for price to get there instead trading every half arsed signal in between the levels. Waiting for 1.3500 on E/U and going short was one of those very high probability trades
Quoting supremeChaos
sounds like a good 'ball pass'http://cdn.forexfactory.com/images/s...m/big_grin.gif
It is, you leave some behind for the guy who takes over your position, albeit with greater risk and lower probability
BTC Return This Year: na
  • #75,786
  • Sep 28, 2010 4:16am Sep 28, 2010 4:16am
Quoting fxprocessor
And I always like the Jarroo confluence

lol good one . . back at you brother.
Indicators show the past. Price Action "Indicates" the future.
  • #75,787
  • Sep 28, 2010 4:36am Sep 28, 2010 4:36am
Quoting M.A.C.Doug
Price is nearly always going to bounce of these. Add confluence with other S/R and its the closest thing to a holy grail there is. Unfortunately, hardly anyone is prepared to wait for price to get there instead trading every half arsed signal in between the levels. Waiting for 1.3500 on E/U and going short was one of those very high probability trades

It is, you leave some behind for the guy who takes over your position, albeit with greater risk and lower probability
Very true, thanks for the advice. I always look at daily, but will start to use monthly too. Yip I have a confluence checklist, so there will never be half arsed setups for me, lol. But great advice non the less. thanks Doug.
Thank you j16!
  • #75,788
  • Sep 28, 2010 4:38am Sep 28, 2010 4:38am
Quoting xmzhang
Did anyone took the daily BUOB on the Loonie for a quick ride towards the 10350 ? Entry was off the 1H-TF via another BUOB closing above the RNB @ 10300.

May the force be with you.
Don't see the BUOB on the Daily Loonie, xmz. I believe your looking at a Sunday bar which I ignore due to lack of info. I do like that 1.0300 PPZ level.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,789
  • Sep 28, 2010 4:39am Sep 28, 2010 4:39am
Quoting jarroo
Don't see the BUOB on the Daily Loonie, xmz. I believe your looking at a Sunday bar which I ignore due to lack of info. I do like that 1.0300 PPZ level.
Yes, I included the 2H sunday bar.http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #75,790
  • Sep 28, 2010 4:47am Sep 28, 2010 4:47am
Quoting xmzhang
Yes, I included the 2H sunday bar.http://cdn.forexfactory.com/images/icons/icon10.gif

Not a good bar to base a Daily setup on . .as you said, its 2 hours not 24 . .
It just lacks a full day of data in the prime trading sessions . .London and New York. Much like a Holiday bar.
Indicators show the past. Price Action "Indicates" the future.
  • #75,791
  • Sep 28, 2010 5:00am Sep 28, 2010 5:00am
Quoting jarroo
There's your momentum breaking Jonny. . .

Damn traffic . .it always gets in the way. It did break hard right to it . .I like that.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,792
  • Sep 28, 2010 5:16am Sep 28, 2010 5:16am
Quoting jarroo
Here's an example of a setup where you may add to a position. Although this may not be the best example due to the traffic of this BUOB.

An entry at the previous High of the Daily Gbp/Chf BUOB that I showed earlier, at the 1.5500 BRN.

An added position would be applied at the break of the BUOB. But due to the BUOB has a lot of traffic and being in consolidation, a second entry would not apply or make sense. Unless a hard break and tight stop loss is applied.

There you go dmuk, an example how you can add to a positon based on two separate, but equal trades. Meaning the BUOB was the common denominator. Although I didn't add to my position due to the BUOB's traffic, even though the hard break, tight stop loss entry would have worked.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,793
  • Sep 28, 2010 5:23am Sep 28, 2010 5:23am
Quoting jarroo
Did this bounce provide enough movement to cover your risk and see if she runs? Only you know the answer.

Do they always work out like this one? No . . . lol. But you would be surprised how often they do. If I didn't post this live would you believe it ?


Thanks James16.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,794
  • Sep 28, 2010 5:24am Sep 28, 2010 5:24am
Quoting Jonnyislost
Like this 1 Hour EUR/GBP for a few reasons,

BEOB engulfing a range of bars at a big round number with a strong bearish close
Breakout of a recent wedge
Break of an I4B (at a BRN) on the daily

Jonny http://cdn.forexfactory.com/images/s.../yim/happy.gif

Quoting jarroo
Damn traffic . .it always gets in the way. It did break hard right to it . .I like that.
Yup reacted at that grey flip (the FTA) pretty strongly. but we have the 0.8500 BRN and a ton of traffic for defense
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  • #75,795
  • Sep 28, 2010 5:28am Sep 28, 2010 5:28am
Hi guys,

Now i know guys,some may mave discussed this pair.
But i have a question,the beob on 4h chart on this pair worked but found support right there,now it is going up to test 0.8500 will that count as pullback with fresh sell order place there.
See the beob is second last bar
http://img163.imageshack.us/img163/6276/eurgbpbeob.gif

Regards
Taz
  • #75,796
  • Sep 28, 2010 5:32am Sep 28, 2010 5:32am
Quoting Jonnyislost
Yup reacted at that grey flip (the FTA) pretty strongly. but we have the 0.8500 BRN and a ton of traffic for defense
Absolutely . . . you know the saying . .a strong defence makes a great offence . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,797
  • Sep 28, 2010 5:41am Sep 28, 2010 5:41am
Quoting 666Doom
Hi guys,

Now i know guys,some may mave discussed this pair.
But i have a question,the beob on 4h chart on this pair worked but found support right there,now it is going up to test 0.8500 will that count as pullback with fresh sell order place there.
See the beob is second last bar


Regards
Taz

That may be true Taz . .more sellers coming in . . I would like to see a bigger BEOB even more sellers coming in, that's when momentum takes over.
Indicators show the past. Price Action "Indicates" the future.
  • #75,798
  • Sep 28, 2010 5:43am Sep 28, 2010 5:43am
Quoting jarroo
Nice one ppfx . . was that a touch trade or a PA Inside Bar off the 133.00?
Thanks The lower one was a touch trade. I would have bought it a few pips lower but i missed it. I entered the second one beacuse of the pinbar forming on the 4h chart and i put the buy order just above the pb and above the 1h ppz.

Quoting jarroo
That looks like fun too, ppfx . . .
So how was it? Hope you had good weather.
  • #75,799
  • Sep 28, 2010 5:44am Sep 28, 2010 5:44am
Quoting ppfx

So how was it? Hope you had good weather.
got the answer on the next page

Quoting jarroo
It was a great time . . .big sky country up there . .

. .I think I need a vacation from my vacation . . . http://cdn.forexfactory.com/images/s.../yim/party.gifhttp://cdn.forexfactory.com/images/smilies/yim/sick.gif http://cdn.forexfactory.com/images/smilies/yim/doh.gif
  • #75,800
  • Sep 28, 2010 5:44am Sep 28, 2010 5:44am
Quoting james16
charts
is the 365 Ema or simple?

many thanks

best trading
Don't give up
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