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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

  • #76,501
  • Oct 5, 2010 8:07am Oct 5, 2010 8:07am
Quoting premierpip
so it's how many pips between entry price and low of the bar?
Yep how many pips b/w your entry or stop
  • #76,502
  • Oct 5, 2010 8:11am Oct 5, 2010 8:11am
Quoting mbqb11
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
The breakout trade on the E-G would that be a valid trade according to your requirements concerning breakout trades ? Not to much room measured in pips to the top of the flag pattern.
Pipcrawler
  • #76,503
  • Oct 5, 2010 8:15am Oct 5, 2010 8:15am
Quoting xmzhang
The breakout trade on the E-G would that be a valid trade according to your requirements concerning breakout trades ? Not to much room measured in pips to the top of the flag pattern.
Hey Zhang

No for me this would be to small of a pattern on the 15min. It actually becomes a better size pattern on the 5m, which would mean I would look for price action on the 1m for a pullback(which I obviously don't do). But there was funny enough. But the concepts are there
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  • #76,504
  • Oct 5, 2010 8:17am Oct 5, 2010 8:17am
Quoting jarroo
Sure . .actually since the BEOB (BEOB by 2 pips more like a DBHLC) broke and hit its target gave more reason that the retrace would occurr. You'll notice this on many setups where the setup will hit its target then retrace to the break and/or a confluenced level.

In this case, to a confluenced PPZ level, .9550.
Jaroo, what do you say about EURCHF BEOB ?

Uptrend is not that strong in relation to EURGBP.
BEOB at swing high
BEOB is broken
Now being retraced

What do you see the as a confluence point ? Between 3380 and 3900 ?
  • #76,505
  • Oct 5, 2010 8:20am Oct 5, 2010 8:20am
Quoting mbqb11
Hey Zhang

No for me this would be to small of a pattern on the 15min. It actually becomes a better size pattern on the 5m, which would mean I would look for price action on the 1m for a pullback(which I obviously don't do). But there was funny enough. But the concepts are there
Yes thank you. I also had a look to the much lower TF, price also broke the pattern by a BUOB and pulled back to the breakout point. On the 15m we didn't get a pullback to the pattern. So in general the steeper the TL's constructing the pattern the further away the FTA the better.
Pipcrawler
  • #76,506
  • Oct 5, 2010 8:20am Oct 5, 2010 8:20am
Hi Mike, do you manually scan all your charts looking for PA then checking confluence, BRN, PPZ etc, or do you scan the charts for PPZ / BRN and then check f there is PA forming ?

Secondly, do you do this manually every 4 hrs ? (assuming you don't check 1hr for setups) or is there a heads up proggie that scans many charts and highlights ones of interest for manual checking ?

Perhaps you could briefly go through your top-down process of how you find a potential setup cos I'm sat here wondering if I missed a 4hr pin on AUDUSD off 0.9600 brn

thanks
Bill
  • #76,507
  • Oct 5, 2010 8:31am Oct 5, 2010 8:31am
Quoting billm
Hi Mike, do you manually scan all your charts looking for PA then checking confluence, BRN, PPZ etc, or do you scan the charts for PPZ / BRN and then check f there is PA forming ?

Secondly, do you do this manually every 4 hrs ? (assuming you don't check 1hr for setups)...
Hey Bill

I do both, I have all my charts open and laid out and move the ones over that are of more interest(areas/patterns/etc). But I also browse them every 4hrs and 1hr for possible PA. So I am looking for locations/areas/patterns mostly, but am also open if jump out PA jumps out. Then I scan my charts once a day right before the close for possible daily plays(same once a week for weekly).

For me the 4hr pin would have had to been of 9500 to warrant a trade intraday. So for example I might plot something like this and keep it up on my monitors. What does this show us? Consolidation pattern around a big round number of 80. Means an opportunity may be present soon
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  • #76,508
  • Oct 5, 2010 8:39am Oct 5, 2010 8:39am
Quoting cprao
Jaroo, what do you say about EURCHF BEOB ?

Uptrend is not that strong in relation to EURGBP.
BEOB at swing high
BEOB is broken
Now being retraced

What do you see the as a confluence point ? Between 3380 and 3900 ?
If I may, imho if price manages to close above the BRN @ 13400 and finds support there then there is a pretty good chance price breaking the long term down-TL. If price stays below 13400 and respects this level as resistance then price probably will break the short term up-TL and we could see price revisiting the all time low. For now the up-TL is still holding as seen by the bounce.
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Pipcrawler
  • #76,509
  • Oct 5, 2010 9:29am Oct 5, 2010 9:29am
EUR/GBP D1 BEOB still looking like a fake out.

It will be interesting to see how this concludes.
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  • #76,510
  • Oct 5, 2010 12:13pm Oct 5, 2010 12:13pm
Quoting Pinbar
EUR/GBP D1 BEOB still looking like a fake out.

It will be interesting to see how this concludes.
yeah i have a short entry on that pair also, the retracement is a little too strong for comfort..
  • #76,511
  • Oct 5, 2010 12:25pm Oct 5, 2010 12:25pm
hey guys, its my first post in this thread. i just saw this PB on UJ h4 which will close in some minutes (Alpari).

I would go long on a break at about 83.300 with first TP 83.480 and SL at 82.95. any further ideas on TP or so?
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Per aspera ad astra!
  • #76,512
  • Oct 5, 2010 12:48pm Oct 5, 2010 12:48pm
Quoting laphoenix
hey guys, its my first post in this thread. i just saw this PB on UJ h4 which will close in some minutes (Alpari).

I would go long on a break at about 83.300 with first TP 83.480 and SL at 82.95. any further ideas on TP or so?
It seems that 83.60 and 83.9 is appropriate. spread out over 2 contracts.
  • #76,513
  • Oct 5, 2010 12:54pm Oct 5, 2010 12:54pm
Quoting laphoenix
hey guys, its my first post in this thread. i just saw this PB on UJ h4 which will close in some minutes (Alpari).

I would go long on a break at about 83.300 with first TP 83.480 and SL at 82.95. any further ideas on TP or so?

Hey Lap,

Newbie opinion. This may not be the most ideal of pinbars to take. The close is not within the low of the first eye. Its not at a swing low. Its in a bad location due to the consolidation.
  • #76,514
  • Oct 5, 2010 1:02pm Oct 5, 2010 1:02pm
Quote
This may not be the most ideal of pinbars to take. The close is not within the low of the first eye. Its not at a swing low. Its in a bad location due to the consolidation.

might be true, therefore its not a A+ pb. but I would see it as a small swing from this day and the wick went down nearly to the pip to (my) pivot
Per aspera ad astra!
  • #76,515
  • Oct 5, 2010 1:28pm Oct 5, 2010 1:28pm
Quoting melvin87
Hey Lap,

Newbie opinion. This may not be the most ideal of pinbars to take. The close is not within the low of the first eye. Its not at a swing low. Its in a bad location due to the consolidation.
however, 83.00 area seems to be a very strong support area. might be the area that the bank of japan is offering demand to weaken the yen.
  • #76,516
  • Oct 5, 2010 2:01pm Oct 5, 2010 2:01pm
One of my type of trades hopefully setting up for end of day.

 

  1. Nice Pinbar
  2. Bounce off monthly pivot and BRN
  3. With the trend

Let's hope it finishes like this. Any views?

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"Fail to prepare, prepare to fail."
  • #76,517
  • Oct 5, 2010 2:21pm Oct 5, 2010 2:21pm
Quoting packhorse
One of my type of trades hopefully setting up for end of day.

 

  1. Nice Pinbar
  2. Bounce off monthly pivot and BRN
  3. With the trend

Let's hope it finishes like this. Any views?


I like the idea of selling GBP against AUD but the pinbar is way too close to the swing low for me pack. I have not tested this kind of setup so if it makes money for you go for it.

cheers

fxp
  • #76,518
  • Oct 5, 2010 2:24pm Oct 5, 2010 2:24pm
Quoting fascist
however, 83.00 area seems to be a very strong support area. might be the area that the bank of japan is offering demand to weaken the yen.
Yup fully agree that its coming off the 83. But from how i see it, its trading right into a bunch of bar highs from the consolidation on its direct left. Don't think there is a lot of room for this trade to move. FTA is around 83.45. Not worth the full-bar stop loss in my opinion.
  • #76,519
  • Oct 5, 2010 2:37pm Oct 5, 2010 2:37pm
Quoting fxprocessor
I like the idea of selling GBP against AUD but the pinbar is way too close to the swing low for me pack. I have not tested this kind of setup so if it makes money for you go for it.

cheers

fxp
FYI also check monthly chart.
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  • #76,520
  • Oct 5, 2010 3:00pm Oct 5, 2010 3:00pm
what about this pair EA???it may show a BUOB after 1hour above the ppz??Is it a good set up??
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