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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

  • #75,821
  • Sep 28, 2010 6:37am Sep 28, 2010 6:37am
Looks Eur/Gbp is getting dirty.
Thank goodness, i did not place a short,that beob was a pass,but it did go till FTA.
But 0.8500 should have protected it,
It will close as buob, i think,daily chart looks like pinish bar.
Let us see.
When i look at chart more and more i feel the price was just rejecting the lower bounds of 0.8500.
http://img710.imageshack.us/img710/2...ncellation.gif
Regards
Taz
  • #75,822
  • Sep 28, 2010 6:41am Sep 28, 2010 6:41am
Quoting jarroo
Jim and Mike has played a big role in how I learn to trade. You can't go wrong from learning from them. They have made me the trader that I am today.

Sure . . you begin to develop your own style and comfort zones, but the foundation of my trading comes from those great teachers.

Man . .I wish I started when I was in my 20's . .

You guys got a great future in store . .
Thank you sir,
I just popped on this thread at the very right time, when great teachers like you could teach me.

And hey ppfx buddy, i always like your charts,i am excited to see more of your work here.
Regards
Taz
  • #75,823
  • Sep 28, 2010 6:48am Sep 28, 2010 6:48am
Quoting fxprocessor
Yes it's sometimes good not to have a bias I agree.

Did you see the GBPCHF? It hit the Jarroo take off area (previous bar high) nicely. It was also a round number.

I guess you missed these posts fxp . .

Quoting jarroo
Interesting where Price found Support on this Daily BUOB on the Gbp/Chf.
Previous bar High . . the 1.5500 BRN. or maybe its not that interesting any more . . just predictable.

Still alot of traffic in front of this BUOB.
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.
Quoting jarroo
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.
Indicators show the past. Price Action "Indicates" the future.
  • #75,824
  • Sep 28, 2010 6:50am Sep 28, 2010 6:50am
Gotta go gang

Later,


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #75,825
  • Sep 28, 2010 7:17am Sep 28, 2010 7:17am
2 queries

1. now a days i am not seeing many daily pins or BUOB/BEOB. its more than a month i saw a good daily pin, BUOB/BEOB. I track around 40 pairs. is this normal ? anybody else feels same ? on H4 i found some but didnt take as i dont like to trade on H4

2. regarding EURGBP. mathematically its same as EURUSD, GUBUSD. long EU and short GU is same as long EG. So EG is moved by EU and GU ? or EG is moved by itself, i mean the GBP and EUR determine the EURGBP ?
  • #75,826
  • Sep 28, 2010 7:18am Sep 28, 2010 7:18am
Quoting anderou
Yip I have a confluence checklist, so there will never be half arsed setups for me, lol.
lol, oh, then its just me then
BTC Return This Year: na
  • #75,827
  • Edited 7:27am Sep 28, 2010 7:24am | Edited 7:27am
hi all, I just join this forum and this is my first post, please welcome me.

I found this thread very interesting and totally different from the system that I used previously.
I also have read an explanation of this system and little understood.

I would like to ask whether this G/U chart below can be stated as a valid bearish pin bar when it is closed near the open? I doubt because previous price trend is still bullish and previous candle is also a pin bar.

http://img338.imageshack.us/img338/5558/gu3y.gif
  • #75,828
  • Sep 28, 2010 7:40am Sep 28, 2010 7:40am
Quoting roundrock
2 queries

1. now a days i am not seeing many daily pins or BUOB/BEOB. its more than a month i saw a good daily pin, BUOB/BEOB. I track around 40 pairs. is this normal ? anybody else feels same ? on H4 i found some but didnt take as i dont like to trade on H4

2. regarding EURGBP. mathematically its same as EURUSD, GUBUSD. long EU and short GU is same as long EG. So EG is moved by EU and GU ? or EG is moved by itself, i mean the GBP and EUR determine the EURGBP ?
Here's one...nose could have been longer but closed below 9600
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  • #75,829
  • Sep 28, 2010 7:48am Sep 28, 2010 7:48am
Quoting M.A.C.Doug
lol, oh, then its just me then
Haha, no don't get me wrong, I do tend to sometimes take setups with confluence but they lack in other ways, against prevailing trend etc.. These I do need to quit taking altogether, but it's really not a big issue with my trading, I am blessed with patience.. I hope you didn't think that I was thinking my trading's perfect, not by a long shot!! lol
Thank you j16!
  • #75,830
  • Sep 28, 2010 7:52am Sep 28, 2010 7:52am
Quoting winsfx
hi all, I just join this forum and this is my first post, please welcome me.

I found this thread very interesting and totally different from the system that I used previously.
I also have read an explanation of this system and little understood.

I would like to ask whether this G/U chart below can be stated as a valid bearish pin bar when it is closed near the open? I doubt because previous price trend is still bullish and previous candle is also a pin bar.

http://img338.imageshack.us/img338/5558/gu3y.gif
Win,

My observations - firstly - the days not over yet - so its not a pin yet.

Secondly - I'm waiting to see what happens at 1.6 if it gets there - till then I'm just watching.
  • #75,831
  • Sep 28, 2010 8:01am Sep 28, 2010 8:01am
Quoting stewrigh
Win,

My observations - firstly - the days not over yet - so its not a pin yet.

Secondly - I'm waiting to see what happens at 1.6 if it gets there - till then I'm just watching.
hi stewrigh,

yes, I know the candle has not closed, that's why I asked first, so that when the candle closed, I can immediately open position.

I just want to know if the previous candle is a pin bar and the current candle become a pin bar too with a long nose, is that mean it will become a bearish pin bar?

wins
  • #75,832
  • Sep 28, 2010 8:12am Sep 28, 2010 8:12am
Quoting fxprocessor
I'm also considering stop and reverse if the top of the inside bar is taken out.

I also ask myself the question "would I want to take the other side of my position now" when deciding when to close a trade at BE. I would not go long EURGBP at this exact moment in time so leaving to play out.

Sitting on hands for now

Stop and reverse. Managed to cut short trade at -.6 r. Intuition used to cut the short and go long due to 1 hr price action. Allowed an early entry into the long.

Taken full profit on long now due to quick move upwards which usually leads to a retrace. Take profit at previous daily high. Small win for the day.

Maybe I should have waited for the long but you never know which way she's going to break......
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  • #75,833
  • Sep 28, 2010 8:14am Sep 28, 2010 8:14am
Quoting Atc
Here's one...nose could have been longer but closed below 9600
is that a pin ? location is very bad. easy pass for me
  • #75,834
  • Sep 28, 2010 8:29am Sep 28, 2010 8:29am
This was a nice break of multi highs

Triple highs all around 3860, or is that quadruple highs ? as they say "something has to give".....
Attached Image (click to enlarge)
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Without women, money would have no meaning - Aristotle Onassis
  • #75,835
  • Sep 28, 2010 8:47am Sep 28, 2010 8:47am
Quoting jarroo
I guess you missed these posts fxp . .
Quality
  • #75,836
  • Edited 8:56am Sep 28, 2010 8:50am | Edited 8:56am
Quoting roundrock
2 queries

1. now a days i am not seeing many daily pins or BUOB/BEOB. its more than a month i saw a good daily pin, BUOB/BEOB. I track around 40 pairs. is this normal ? anybody else feels same ? on H4 i found some but didnt take as i dont like to trade on H4

2. regarding EURGBP. mathematically its same as EURUSD, GUBUSD. long EU and short GU is same as long EG. So EG is moved by EU and GU ? or EG is moved by itself, i mean the GBP and EUR determine the EURGBP ?
Hi Mate,

I'm in the same position. I don't want to move down lower than the daily as I can't babysit trades at work or be looking at charts.

This is why I've moved into equities and commodities as well. I'm basically looking at every available chart in the Alpari (UK) demo. I have them organised into profiles in MT4, so far I have:

Watchlist
USD FX pairs
JPY FX pairs
cross FX pairs
Commodities (Apari doesn't have that many so I don't split these up)
Tech stocks
Finance stocks
US stocks
UK stocks
DE stocks

A lot more charts and setups to look at but I understand equities are quirky - I like quirky though

Shame Alpari doesn't have indeces either. I'm looking at some stocks with a view to holding longer term positions due to chart patterns - I'm currently in HPQ.US (H&S neckline broken), watching the following:

BAC.US - H&S
JPM.US
CSCO - H&S
MSFT - H&S
YHOO
Anything can happen.
  • #75,837
  • Sep 28, 2010 8:52am Sep 28, 2010 8:52am
Hello folks,

Just a trade im waiting on.
Huge bearish outside bar or doulbe high low close, at a swing high with downward divergance off the 1.5800 brn. It isnt there by itself, but the bar looks big enough to convince me that it might be worth taking.
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  • #75,838
  • Sep 28, 2010 8:57am Sep 28, 2010 8:57am
I am just in. Lets see how it plays out! Nice trend, rejected off BRN and closing below the zone.
I used the small insider bar just after that pin-like structure for the trigger.

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  • #75,839
  • Sep 28, 2010 8:58am Sep 28, 2010 8:58am
charts
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  • #75,840
  • Sep 28, 2010 9:06am Sep 28, 2010 9:06am
Hey Jarroo,
About these sunday bars, today on the DJ-index price retreaced to the low of the sunday bar to the pip. If you take the sunday bar into consideration we see a not so perfect DBHLC-pattern (the highs are 10 pip off). But price is behaving exactly as expected according to what I've learned (from you, lol). So taken this sunday bar into consideration, you could have anticipated in a price drop when price pullback to the previous bar low of the DBHLC-pattern.

May the force be with you.
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