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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

  • #76,521
  • Oct 5, 2010 3:37pm Oct 5, 2010 3:37pm
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?

Hey Pack, there's definitely things in it's favour but it's not one I personally would take because:

The bar closed outside the body of the prior bar (not fatal, but a lot of people like to see a close inside).

It's sitting right on top of a ppz (a minor one admittedly).

You're heading straight into those prior lows.

If I were to take it, I'd be thinking "quick take profit or at least quick to break even".

Not saying it's bad, just not one I really like the look of.

Hope this helps.
  • #76,522
  • Oct 5, 2010 3:42pm Oct 5, 2010 3:42pm
Quoting lucas101
what about this pair EA???it may show a BUOB after 1hour above the ppz??Is it a good set up??
Hi Lucas,

It's a BUOB at a swing high, which is a lot trickier than a reversal BUOB at a swing low. Also, on my chart at the moment it's not looking like it will close strong, more halfway down the bar.

It's only engulfing one bar (not counting the tiny Sunday bar), and the low is only just lower, ideally we'd like to see a stronger test of the area below.

Personally I'd pass, but that's just my opinion.
  • #76,523
  • Oct 5, 2010 3:46pm Oct 5, 2010 3:46pm
Quoting Albatross
Hi Lucas,

It's a BUOB at a swing high, which is a lot trickier than a reversal BUOB at a swing low. Also, on my chart at the moment it's not looking like it will close strong, more halfway down the bar.

It's only engulfing one bar (not counting the tiny Sunday bar), and the low is only just lower, ideally we'd like to see a stronger test of the area below.

Personally I'd pass, but that's just my opinion.
thanks Albatross,i will pay attention to it how it goes......
  • #76,524
  • Oct 5, 2010 3:53pm Oct 5, 2010 3:53pm
Quoting Albatross
Hey Pack, there's definitely things in it's favour but it's not one I personally would take because:

The bar closed outside the body of the prior bar (not fatal, but a lot of people like to see a close inside).

It's sitting right on top of a ppz (a minor one admittedly).

You're heading straight into those prior lows.

If I were to take it, I'd be thinking "quick take profit or at least quick to break even".

Not saying it's bad, just not one I really like the look of.

Hope this helps.
Thanks Albatross,

I normally trade on the basis of a quick in and out anyway. If I can get the bottom of those lows, that will do me, and I will move on to the next trade. I am looking for about 117 pips.

Regards
"Fail to prepare, prepare to fail."
  • #76,525
  • Oct 5, 2010 4:30pm Oct 5, 2010 4:30pm
Quoting packhorse
Thanks Albatross,

I normally trade on the basis of a quick in and out anyway. If I can get the bottom of those lows, that will do me, and I will move on to the next trade. I am looking for about 117 pips.

Regards
FTA is quite nearby @16325-ish, in that case I would like to trade a pullback to the daily PPZ/RNB @ 16400 and look there on the lower TF for PA to see if this level holds as resistance, you could then position yourself well before the actual break of the daily PB. If the break doesn't sustain you could still close your position with some profit.

May the force be with you.
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Pipcrawler
  • #76,526
  • Oct 5, 2010 4:40pm Oct 5, 2010 4:40pm
Eur/Chf Daily

Sold the break of the BEOB (10 pips)

Loss 110 pips by now
Don't give up
  • #76,527
  • Oct 5, 2010 4:50pm Oct 5, 2010 4:50pm
Quoting geomink
Eur/Chf Daily

Sold the break of the BEOB (10 pips)

Loss 110 pips by now
Hey Geo

We want more then just the bar to trade. We want to figure out the story behind these bars, it makes it much easier from my viewpoint

Here was a post and chart I made yesterday

______________________________________
Hey Salva

I agree not a whole bunch to go off. There is a logical FTA though(especially if price can close under 1.33). I wouldn't trade it as I would have wanted a touch of the BRN 1.35 personally.
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  • #76,528
  • Oct 5, 2010 5:01pm Oct 5, 2010 5:01pm
i see from many of your posts your having trouble geo.

we can fix that if your on demo.

are you on demo while your learning?

Thanks,

Jim





Quoting geomink
Eur/Chf Daily

Sold the break of the BEOB (10 pips)

Loss 110 pips by now
  • #76,529
  • Oct 5, 2010 5:02pm Oct 5, 2010 5:02pm
CHARTS
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  • #76,530
  • Oct 5, 2010 5:05pm Oct 5, 2010 5:05pm
Hey Mike, any thoughts about Loonie, we might see a BEOB break out of a consolidation. I would then like to see a pullback to range support/daily PPZ/RNB @ 10200 to hold as resistance.
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Pipcrawler
  • #76,531
  • Oct 5, 2010 5:18pm Oct 5, 2010 5:18pm
Quoting james16
i see from many of your posts your having trouble geo.

we can fix that if your on demo.

are you on demo while your learning?

Thanks,

Jim
Yes I am, Jim

After three months profitable in a row, in september and october I'm dropping just in confusion

So much information to learn, in addition; so I'm feeling just in confusion

Loosing "k.i.s.s." and "Less is more"........

Many thanks for all
Don't give up
  • #76,532
  • Oct 5, 2010 5:24pm Oct 5, 2010 5:24pm
Quoting geomink
Yes I am, Jim

After three months profitable in a row, in september and october I'm dropping just in confusion

So much information to learn, in addition; so I'm feeling just in confusion

Loosing "k.i.s.s." and "Less is more"........
Hey Geo,

You weren't the only one who had a tough September. I know a number of good traders in the PF who struggled with forex last month, so you're definitely not alone in that.
  • #76,533
  • Oct 5, 2010 5:26pm Oct 5, 2010 5:26pm
Quoting james16
CHARTS
The EJ trade, how lovely

My confidence level about PA was just elevated by a few good points!



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #76,534
  • Oct 5, 2010 5:36pm Oct 5, 2010 5:36pm
Quoting xmzhang
Hey Mike, any thoughts about Loonie, we might see a BEOB break out of a consolidation. I would then like to see a pullback to range support/daily PPZ/RNB @ 10200 to hold as resistance.
Hi xmzhang

I'll just give my thoughts in between mike getting back to you.

First of all, the chart scares the crap outa me. VERY choppy mess.

In saying that, if you were confident in your management, you could give it a shot, but those 3 previous bar lows give you a pretty big warning that this could just as well turn around. There's just not enough to tell you its gonna move much lower. IMO
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  • #76,535
  • Oct 5, 2010 5:47pm Oct 5, 2010 5:47pm
Quoting jarroo
From my point of view . if you can understand this chart below . . where Support turns into Resistance once Price breaks through it (and vice versa) and using PA . .either bullish (at Support) or bearish (at Resistance) . . you're ahead of the game. It's a good starting point . .imo


Jim


Aud/Usd 4 Hour PB, FxPro & IBFX feeds.


Bing . .Bang . . .Boom . .
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Indicators show the past. Price Action "Indicates" the future.
  • #76,536
  • Oct 5, 2010 5:55pm Oct 5, 2010 5:55pm
Quoting jimmynoodles
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.

Attachment

Attachment

Nice charts and analysis, jimmy . . .
Indicators show the past. Price Action "Indicates" the future.
  • #76,537
  • Edited 6:41pm Oct 5, 2010 6:20pm | Edited 6:41pm
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 ?

Not sure why the EURGBP is a factor on the EURCHF.

The conflunce points on the current setup (Daily DBHLC) are the 1.3400 and 1.3500.

I do like xmz's analysis of the 1.3400 as acting as Resistance.

Quoting xmzhang
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.

The 1.3300 had acted as strong Resistance (purple), since Price broke through this 1.3300 level, no surprise that it is now acting as strong Support . . .hence, the retracement.

This setup is still very much in play, due to the High of this Daily DBHLC has yet to be breached.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,538
  • Oct 5, 2010 6:39pm Oct 5, 2010 6:39pm
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.

Yes, I believe there was a opportunity there. . .but let's walk through this . . . if you don't mind?

Could you post a Daily chart of the Eur/Gbp and locate the PPZ level . .like mine (green). Its a bit wide. I just want to see how they look on your feed.
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Indicators show the past. Price Action "Indicates" the future.
  • #76,539
  • Oct 5, 2010 7:08pm Oct 5, 2010 7:08pm
Quoting jarroo
Aud/Usd 4 Hour PB, FxPro & IBFX feeds.


Bing . .Bang . . .Boom . .
I got in on that last night....95500 RN, PPZ, off the trend-line on my feed, with the trend, in space....maybe lacked a little weight compared to the previous bar but everything else added up nicely.
  • #76,540
  • Oct 5, 2010 7:29pm Oct 5, 2010 7:29pm
Now, EG is looking interesting.

Are we going to see some fake Bullish PA then hit the TL and drop like a stone, or will it bust right through it? Either way, we need PA to show us the way, in the shark infested waters.
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