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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

  • #75,881
  • Sep 28, 2010 4:49pm Sep 28, 2010 4:49pm
Quoting Arnaldo
if you consider the blue line as a old time s/r is not very bad location but definitely the size is not ok.....
If i may. Imho the pb would be still ok for me if it would be a little higher like the one i draw on the chart.

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  • #75,882
  • Sep 28, 2010 5:34pm Sep 28, 2010 5:34pm
Quoting ppfx
If i may. Imho the pb would be still ok for me if it would be a little higher like the one i draw on the chart.

Attachment
Triple top at 1.65? Sold! (Contract subject to terms and conditions).
  • #75,883
  • Edited 6:14pm Sep 28, 2010 5:43pm | Edited 6:14pm
Quoting fxprocessor
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......

I did the same fxp. . . but took a full bar loss (-40 pips) on the shortside and my long was triggered on the other side. The I4B did hit its targets on the short, previous bars Lows.

Its a strong setup, I4Bs at BRNs, I would traded it the same way if another one is presented.

Let's see if the previous bars Highs, the long side targets, can now act as Support and ride this baby to the moon.

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Indicators show the past. Price Action "Indicates" the future.
  • #75,884
  • Sep 28, 2010 5:48pm Sep 28, 2010 5:48pm
Quoting jarroo
I did the same fxp. . . but took a full bar loss (-40 pips) on the shortside and my long was triggered on the other side. The I4B did hit its targets on the short, previous bars Lows.

Its a strong setup, I4Bs at BRNS, I would traded it the same way if another one is presented.

Let's see if the previous bars Highs, the long side targets, can now act as Support and ride this baby to the moon.


Yeah I would still like to be long myself after getting out a little early but happy to end the day positive pips. Glad you caught the long mate
  • #75,885
  • Edited 5:59pm Sep 28, 2010 5:49pm | Edited 5:59pm
http://img7.uploadhouse.com/fileuplo...f00ea5e7c5.gif

? IM THINKING OUT LOUD

CAD/JPY FOR UP MOVE
price action pin (not long enough)

B]confluence:[/b] fibonnaci bottom range to top at around 50 fibs
weekly support pin weekly exhausting pins

im using metaradar mt4 chart to post but i trade using ACCUCHARTS FX
SOLOUTIONS CAUSE of NY DAILY CLOSE .
HAVING LEARN USING THEIR TOOLS YET
  • #75,886
  • Sep 28, 2010 5:56pm Sep 28, 2010 5:56pm
Quoting fxprocessor
Yeah I would still like to be long myself after getting out a little early but happy to end the day positive pips. Glad you caught the long mate

We did talk about the Stop and Reverse and I believe the quality of this type of I4B setup calls for it. As oppose to just a "random" I4B.

Nothing wrong with hitting your targets fxp . . If I did the same my short side trade would have a small profit and my long side would have been big one. It goes through my mind on every trade. But I like these setups at the BRN because they do tend to run to the next BRN so I do give it a bit more leeway . .albeit only 40 pips . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #75,887
  • Sep 28, 2010 6:07pm Sep 28, 2010 6:07pm
Quoting xmzhang
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.
This may be true xmz, but I do not put a lot of faith in Sunday or Holiday bars. The bar is just too incomplete of information as a stand alone bar.

If you find the information they provide as useful . .then go for it.
Indicators show the past. Price Action "Indicates" the future.
  • #75,888
  • Sep 28, 2010 6:19pm Sep 28, 2010 6:19pm
Quoting ppfx
Awesome fxprocessor Unfortunately my intuition isnt as good as yours and my SL was hit -1% on my demo lol but i managed to take this baby for a quick 30 pips half closed stops at BE.

Attachment Attachment

Impressive ppfx . . . nice.
Indicators show the past. Price Action "Indicates" the future.
  • #75,889
  • Sep 28, 2010 6:21pm Sep 28, 2010 6:21pm
Quoting Jonnyislost
Whoops

Well it made the FTA so not a failed setup, but it was a failed trade for me as I overestimated the momentum behind this move and ended up with a -1R
With hindsight I would have reduced risk once the first target was hit, as this market still seems a little whacky (many false breakouts and so on) and runners are rare.

Jonny
These words say it all, Jonny . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,890
  • Sep 28, 2010 6:23pm Sep 28, 2010 6:23pm
Quoting james16
CHARTS

Classic. . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,891
  • Sep 28, 2010 6:30pm Sep 28, 2010 6:30pm
Quoting mbqb11
We were watching this one and here is what I was watching Taz

1hr breakout pattern, big beob(think the preemptive breakout we spoke about). Now the next bar never triggered my order so I canceled it. I was asked if I would hold with the 4hr BEOB, but it was way to small for me.

Hey Mike, so if the BEOB was bigger it would have been one for you to take.

Would you have a bullish bias since this is a bullish wedge or pennant formation? Or a bigger BEOB would throw that bullish pennant out the window?
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Indicators show the past. Price Action "Indicates" the future.
  • #75,892
  • Sep 28, 2010 6:32pm Sep 28, 2010 6:32pm
Quoting jarroo
Hey Mike, so if the BEOB was bigger it would have been one for you to take.

Would you have a bullish bias since this is a bullish wedge or pennant formation? Or a bigger BEOB would throw that bullish pennant out the window?
Hey Jim

My bias is long since the trend is up, but since we are straddling the BRN, I was open to both situations. The One hr beob was great size great spot, but next bar never triggered it. The 4hr beob was just way to small. Would have needed to be much bigger(as now your fighting that uptrend with such a small bar. Now the daily beob is nice continuation so let's see if we can work up higher away from the 8500 pivot zone BRN
  • #75,893
  • Sep 28, 2010 6:33pm Sep 28, 2010 6:33pm
Quoting The Lord
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.

Attachment

Man . . I like those pinish looking Outside Bars . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,894
  • Sep 28, 2010 6:37pm Sep 28, 2010 6:37pm
Quoting mbqb11
Hey Jim

My bias is long since the trend is up, but since we are straddling the BRN, I was open to both situations. The One hr beob was great size great spot, but next bar never triggered it. The 4hr beob was just way to small. Would have needed to be much bigger(as now your fighting that uptrend with such a small bar. Now the daily beob is nice continuation so let's see if we can work up higher away from the 8500 pivot zone BRN

A bigger 4 Hour BBEOB would tell a different story for sure . . Thanks Mike


I think you mean "BUOB" on the Daily as continuation . . fly me to the moon.
Indicators show the past. Price Action "Indicates" the future.
  • #75,895
  • Sep 28, 2010 6:53pm Sep 28, 2010 6:53pm
Quoting jarroo
A bigger 4 Hour BBEOB would tell a different story for sure . . Thanks Mike


I think you mean "BUOB" on the Daily as continuation . . fly me to the moon.

doh yep
  • #75,896
  • Sep 28, 2010 7:04pm Sep 28, 2010 7:04pm
Looking at the daily, clearly this pair is coming to rest after the downtrend with ADX slope down on 50 degree slope.

The closing of today, the last pattern in circle, looks like a pin bar, but it is a doji bar...so I am taking this long trade now to the high of the doji, and looking for sell stop 10 pips below the doji for a quick 20pips tp.
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  • #75,897
  • Sep 28, 2010 7:05pm Sep 28, 2010 7:05pm
EU BUOB on the daily.
BRN at the 1.35
Swing High
50% fib confluence matching around the 1.3500 zone - the current daily (with 12 am NY close) bar fib.

Placed a buy limit order at the 50% fib.

I am trying to apply the same thinking as James previous EUR/CHF BUOB trade that was missed by 13 pips or am I off and are these two situations not similar?

Thank you,
KK

NVM, I read Jaroos post on waiting PA confirmation before entering. I am assuming PA on the daily or less as the retrace occurs. However, I guess since I can't watch the trade, yet would like to enter the trade on the retrace at a better price, I will set a buy limit order at the 50% fib?

Any advice?

Thanks again,
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  • #75,898
  • Edited 7:11pm Sep 28, 2010 7:10pm | Edited 7:11pm
Quoting mbqb11
Hey Wins

Welcome to the thread

For it to be a valid pinbar the open and close need to be within the prior bar. So in the case you had screenshotted that would not be a valid pin.

Ask more questions as you work through the thread

Mike
thank's mate

I see it, at the last the candle not perform as a pin bar.

Another question, in DAILY E/U, it had already made a BUOB. is this a valid BUOB?
but I don't immediately open a position, I wait a retrace to 1.5000 and open a BUY LIMIT at that area.

wins
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  • #75,899
  • Sep 28, 2010 8:20pm Sep 28, 2010 8:20pm
Quoting winsfx
thank's mate

I see it, at the last the candle not perform as a pin bar.

Another question, in DAILY E/U, it had already made a BUOB. is this a valid BUOB?
but I don't immediately open a position, I wait a retrace to 1.5000 and open a BUY LIMIT at that area.

wins
Hey Wins

Yes this is a valid buob, but the location we want to see them when we are new to this is at a swing low. This is a swing high. Yes they can be played as continuation but they are just trickier to understand and manage so we try to teach new traders them at swing low points first and then after time you will find them playable in many different forms and spots.

Best
Mike
  • #75,900
  • Edited Sep 29, 2010 12:10am Sep 28, 2010 8:55pm | Edited Sep 29, 2010 12:10am
hi all

have a look at the stock WAG

has gapped up over a strong resistance area the $33

look for PA

john

cant put chart up sorry,forgot to say it was on high volume too
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