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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

  • #76,481
  • Oct 5, 2010 12:58am Oct 5, 2010 12:58am
Quoting supremeChaos
i think it will blow pass through it.
. . and then act as Support . .the up trend is strong . . you got to show me 1st.
Indicators show the past. Price Action "Indicates" the future.
  • #76,482
  • Oct 5, 2010 1:00am Oct 5, 2010 1:00am
Quoting jarroo
How big of a buffer did you have on that?
4 pips. I know it's below the std/min 10 pips for Daily but I reckon to have more pips to gain before reaching the FTA of 1.86.
A bad decision it may turn out.....................
  • #76,483
  • Oct 5, 2010 1:03am Oct 5, 2010 1:03am
Quoting ertorque
4 pips. I know it's below the std/min 10 pips for Daily but I reckon to have more pips to gain before reaching the FTA of 1.86.
A bad decision it may turn out.....................

If we were in the London session, I can see a smaller buffer . .but in the Asian session . .with this pair . .I would use a bigger buffer just to see if the volatility was present . . make sense?
Indicators show the past. Price Action "Indicates" the future.
  • #76,484
  • Oct 5, 2010 1:05am Oct 5, 2010 1:05am
Quoting jarroo
. . and then act as Support . .the up trend is strong . . you got to show me 1st.
haha. yes..

the market will show it to us.
..
hopefully..lol
  • #76,485
  • Oct 5, 2010 1:06am Oct 5, 2010 1:06am
Quoting supremeChaos
i think it will blow pass through it.

That is my HO also.
  • #76,486
  • Oct 5, 2010 1:09am Oct 5, 2010 1:09am
Quoting jarroo
If we were in the London session, I can see a smaller buffer . .but in the Asian session . .with this pair . .I would use a bigger buffer just to see if the volatility was present . . make sense?
It does Jaroo.
Sometimes you 'hope' 4 pips is enough but I guess it is better to be safe (safe could mean moving managing it tightly when FTA is reached) than to be sorry.
  • #76,487
  • Oct 5, 2010 1:15am Oct 5, 2010 1:15am
Quoting ertorque
It does Jaroo.
Sometimes you 'hope' 4 pips is enough but I guess it is better to be safe (safe could mean moving managing it tightly when FTA is reached) than to be sorry.

Its one thing that I've learned from James16 and Mike (and myself) being aware of the time of day, meaning being in where the action is or volatility is . .London and New York.
Indicators show the past. Price Action "Indicates" the future.
  • #76,488
  • Oct 5, 2010 1:32am Oct 5, 2010 1:32am
Quote
4 pips. I know it's below the std/min 10 pips for Daily but I reckon to have more pips to gain before reaching the FTA of 1.86.
Quoting ertorque
Sometimes you 'hope' 4 pips is enough...
put a line at 0.8625. Daily chart
extend that line back towards around January20, 2010.
u will see it acted as a PPZ.

now, go to the H1 chart.
assuming u were not aware of that 0.8625 Daily PPZ..
on the H1 chart, u will see that 0.8625 still acted as a PPZ. (September29 onwards)

add the idea that eurgbp trend has been strong.
u will come up with the conclusion that shorting eurgbp to catch a 25-30pip FTA (specially with a smaller-than-ideal, 4-pip buffer) is impractical/risky.
based on your post, i feel u are either an aggressive trader or simply trying to chase some pips. (i know because i am/do both, lol)

whatever happens, manage the trade well
Hope that helps
  • #76,489
  • Oct 5, 2010 1:50am Oct 5, 2010 1:50am
Quoting supremeChaos
put a line at 0.8625. Daily chart
extend that line back towards around January20, 2010.
u will see it acted as a PPZ.

now, go to the H1 chart.
assuming u were not aware of that 0.8625 Daily PPZ..
on the H1 chart, u will see that 0.8625 still acted as a PPZ. (September29 onwards)

add the idea that eurgbp trend has been strong.
u will come up with the conclusion that shorting eurgbp to catch a 25-30pip FTA (specially with a smaller-than-ideal, 4-pip buffer) is impractical/risky.
based on your post, i feel u are either an aggressive...
Thanks SChaos for the comments.
You're right 0.8625 +- 3pips is a flip zone which is an element to be considered when placing entry.
Between being "an aggressive trader or simply trying to chase some pips", I am in the latter group in this particular trade since there isn't too much left on the table with a large buffer. I am still grappling with J16 methods hope to see more consistency in the near future........


edit: Hey EUGP is down again heading 0.86 as I wrote this
  • #76,490
  • Oct 5, 2010 2:58am Oct 5, 2010 2:58am
G'day Jarroo,
Everybody seems to be looking at the daily BEOB only, what about the 4H-BUOB which engulfs the previous 4 bars ? Price retraced after breaking the BUOB to the high of one of the engulfed bars (the one with the highest high), I was looking for a PA entry on a much lower TF but didn't get a descent PA, FTA would be of course the RNB @ 8700.
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Pipcrawler
  • #76,491
  • Oct 5, 2010 3:10am Oct 5, 2010 3:10am
Hi Guys,
There was this Aud/Jpy pinbar i saw forming,i would like your opinion,i know it might not be a pinbar at close but have a look.
There was trendline pullback in terms of an IPB just before that.
and now there is this PB at with 38.2 fib retracement right below it.
I think this one will have problem right at the 80.20.

If i believe right this is not a great trade,just wanted to know if my psychology is right about it.
http://img842.imageshack.us/img842/8238/pin.gif
  • #76,492
  • Oct 5, 2010 3:48am Oct 5, 2010 3:48am
bounce off TL and EMA 150 on H4 chart. since we have a wide wide bearsih bar, we will wait for any bullish PA

pros : in line with trend, bounce off TL, bounce off EMA. small pin as well

cons : big bearsih bar. towards BRN
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  • #76,493
  • Oct 5, 2010 4:26am Oct 5, 2010 4:26am
Really strong SR levels (marked with yellow rectangles) on the daily chart. The 38 fib of the last swing low to high falls right on this strong SR level. Will wait for price to reach this area and look for PA to go long.

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The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #76,494
  • Oct 5, 2010 4:33am Oct 5, 2010 4:33am
what's "buffer" you guys talking about? what is it?
  • #76,495
  • Oct 5, 2010 4:47am Oct 5, 2010 4:47am
Quoting xmzhang
G'day Jarroo,
Everybody seems to be looking at the daily BEOB only, what about the 4H-BUOB which engulfs the previous 4 bars ? Price retraced after breaking the BUOB to the high of one of the engulfed bars (the one with the highest high), I was looking for a PA entry on a much lower TF but didn't get a descent PA, FTA would be of course the RNB @ 8700.
Nothing much going on now, price seems to be moving according a flag pattern on the 15m-TF, I'am waiting for a breakout. A break above will lead us towards RNB @ 8700 and a break below will lead us towards the low of the daily BEOB.
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Pipcrawler
  • #76,496
  • Oct 5, 2010 5:37am Oct 5, 2010 5:37am
And lookie here, a beautifull BUOB break, a tricky one because price first broke countertrend and reversed immediately afterwards. If you would have entered right after the break you would have been wipped out by the next bar, so always wait for PA confirming the break. I am now looking for a pullback of the engulfing bar via a fib retracement.

ps. the 15m-BUOB closed above the high of the 4H-BUOB
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Pipcrawler
  • #76,497
  • Oct 5, 2010 5:44am Oct 5, 2010 5:44am
Quoting premierpip
what's "buffer" you guys talking about? what is it?
Hey Pip

By buffer we mean how far above/below an area your buy/sell goes.

So for the eur/gbp you have a daily beob that broke the low by about 4 pips. For me buffers for my sell are going to go roughly 10-18 pips depending on the pair on the daily. So it is a case if I was going to play this beob that my sell would not just get nicked in. Do you have to use one? No but then this can become an issue.

Best
Mike
  • #76,498
  • Oct 5, 2010 5:57am Oct 5, 2010 5:57am
Hey Mike, question about my breakout trade of the E-G, is the FTA one of the swing highs of the flagpattern or is it an another level ? As for now price seems to be finding some trouble at first swinghigh of the flagpattern.

May the force be with you.
Pipcrawler
  • #76,499
  • Oct 5, 2010 6:01am Oct 5, 2010 6:01am
Quoting xmzhang
Hey Mike, question about my breakout trade of the E-G, is the FTA one of the swing highs of the flagpattern or is it an another level ? As for now price seems to be finding some trouble at first swinghigh of the flagpattern.

May the force be with you.
Yep You nailed it. Each point of the pattern becomes easy areas to watch for trouble, with the "top" of the pattern or starting point becoming a great target area I use

Mike
  • #76,500
  • Oct 5, 2010 6:05am Oct 5, 2010 6:05am
Quoting mbqb11
Hey Pip

By buffer we mean how far above/below an area your buy/sell goes.

So for the eur/gbp you have a daily beob that broke the low by about 4 pips. For me buffers for my sell are going to go roughly 10-18 pips depending on the pair on the daily. So it is a case if I was going to play this beob that my sell would not just get nicked in. Do you have to use one? No but then this can become an issue.

Best
Mike
so it's how many pips between entry price and low of the bar?
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