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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

  • #77,701
  • Oct 18, 2010 10:33am Oct 18, 2010 10:33am
Hi Jonnyislost
Am also watching Aud Jpy Multi-Bar Highs, that PB is risky,A strong break above the 81.35 would be good, concerns are the 8180 ppz. (ibfx)

looking at the weekly price has broke out of a sideways market ,but it could still decide to head back there with all this hesitation to break upwards.
do you reckon.

Am keeping an eye on Aud /Chf as well, should break above triangle/multi-bar highs ,looking at weekly TF there's a strong uptrend ,But could reject 9500BRN and head down.

Cheers
D
  • #77,702
  • Oct 18, 2010 10:37am Oct 18, 2010 10:37am
Hello Pinbar just seen your post also on Aud Jpy,just posted a couple of points also.
Best
D
  • #77,703
  • Oct 18, 2010 10:40am Oct 18, 2010 10:40am
allianz is approaching upper trendline and rn 90 eur. check for a breakout in the next days.
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meine augen sind die sterne
  • #77,704
  • Oct 18, 2010 10:56am Oct 18, 2010 10:56am
Quoting mbqb11
Hey Emmy

Welcome to the thread

There are only Bullish outside bars, and bearish outside bars....
Big Mike thanks for your answer is highly appreciated. I will like to know what it means whenever I see BUOB and BEOB formed in a price chart. is it continuation of the price or a reversal?

Regards

Emmanuel
If you don't control your emotion it will control you.
  • #77,705
  • Oct 18, 2010 11:03am Oct 18, 2010 11:03am
Quoting mbqb11
Hey Melvin

I do a lot of personal work with closes of bars. imagine if that same bar closed down towards the bottom of that wick(that is what makes it look funky in my eyes). It would now have closed within that blue box that would show additional strength to the downside.

Again I put a lot of weight on closes of bars personally

Mike
Hey Mike,

So if the BEOB closed near its low you would have taken this bar despite the blue box of consolidation on the left?
  • #77,706
  • Oct 18, 2010 11:15am Oct 18, 2010 11:15am
Quoting damien100
Hi Jonnyislost
Am also watching Aud Jpy Multi-Bar Highs, that PB is risky,A strong break above the 81.35 would be good, concerns are the 8180 ppz. (ibfx)

looking at the weekly price has broke out of a sideways market ,but it could still decide to head back there with all this hesitation to break upwards.
do you reckon.

Am keeping an eye on Aud /Chf as well, should break above triangle/multi-bar highs ,looking at weekly TF there's a strong uptrend ,But could reject 9500BRN and head down.

Cheers
D
Hi D, I think in general with this pattern (aud/jpy) I will wait for a breakout and retest of the box before making a trade. A pure break of the channel could be risky in my opinion and there have already been many spikes (false breakouts) in both directions. I think his could easily continue for several more days before the true breakout occurs. Ideally it will break to the upside, and it's with the near term trend, and also into more free space (see daily)

With the aud/chf the pattern seems to be less clear, but I do like the multiple bar highs above the 0.9500 (0.9530) as they are almost to the pip
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  • #77,707
  • Oct 18, 2010 12:02pm Oct 18, 2010 12:02pm
Quoting melvin87
Hey Mike,

So if the BEOB closed near its low you would have taken this bar despite the blue box of consolidation on the left?
Well that wouldn't be enough for me, since I am very particular with my locations intraday. But that type of scenario is what I look for, for additional information. Like J said before me about the bar formation, just cause it qualifies as a bar setup doesn't make it worth trading. We want to dig a bit deeper. A stronger close there(which some of the other 4hr feeds had) will give you a lot more information and confidence. Especially in a repeatable manner going forward

Best
Mike
  • #77,708
  • Oct 18, 2010 12:21pm Oct 18, 2010 12:21pm
Quoting mbqb11
Hey Pin

Yes but the market is open for another hour after IBFX closes on fridays so I follow fxpro. Doesn't make that wrong, but just something I have come to do over the years

Best
Mike
That is Dang crafty of them, is it not.

Thanks Mike
  • #77,709
  • Oct 18, 2010 12:22pm Oct 18, 2010 12:22pm
Quoting Pinbar
That is Dang crafty of them, is it not.

Thanks Mike
Well it's all just broker dependent. As far as I see their charts stop ticking at 4pm est I believe so I assume live trading is shut down(could be a wrong assumption on my part). Technically the FX markets never close, but generally all brokers are closed, or into weekend trading at 5pm est NY time.

Take care
Mike
  • #77,710
  • Oct 18, 2010 12:30pm Oct 18, 2010 12:30pm
Quoting Caesar
Book title: Support and resistance: Stepping into profitability by James 16 et all...

Caesar

Sometimes, I see a few people post a chart like this, it hits me that this is how we need to keep it simple.

I am trying to Keep It Simple, my mind doesn't like it and that is where the battleground is, not only on the charts.


Thanks for the encouragement Caesar.
  • #77,711
  • Oct 18, 2010 12:37pm Oct 18, 2010 12:37pm
Quoting Jonnyislost
Hi D, I think in general with this pattern (aud/jpy) I will wait for a breakout and retest of the box before making a trade. A pure break of the channel could be risky in my opinion and there have already been many spikes (false breakouts) in both directions. I think his could easily continue for several more days before the true breakout occurs. Ideally it will break to the upside, and it's with the near term trend, and also into more free space (see daily)

With the aud/chf the pattern seems to be less clear, but I do like the multiple bar highs...

Yes, JL, it looks like a rocky ride down.

I am also thinking the top and bottom, but preferably the top, is where we want to see the PA off.
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  • #77,712
  • Oct 18, 2010 12:38pm Oct 18, 2010 12:38pm
Quoting mbqb11
Well that wouldn't be enough for me, since I am very particular with my locations intraday. But that type of scenario is what I look for, for additional information. Like J said before me about the bar formation, just cause it qualifies as a bar setup doesn't make it worth trading. We want to dig a bit deeper. A stronger close there(which some of the other 4hr feeds had) will give you a lot more information and confidence. Especially in a repeatable manner going forward

Best
Mike
Ahh okok. So am I right to say that location would be more important than bar structure? For example, I spotted this DBLHC on the CHFJPY pair (h4 timeframe). So although its at a swing low with a large DBLHC, its trading right into the blue ppz (round number in there too) which would not make it an ideal one?
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  • #77,713
  • Oct 18, 2010 12:40pm Oct 18, 2010 12:40pm
Quoting melvin87
Ahh okok. So am I right to say that location would be more important than bar structure? For example, I spotted this DBLHC on the CHFJPY pair (h4 timeframe). So although its at a swing low with a large DBLHC, its trading right into the blue ppz which would not make it an ideal one?
Hey Melvin

Yes location trumps all, but bar structure + location is very important as a whole. But you are correct in general terms

Mike
  • #77,714
  • Oct 18, 2010 12:41pm Oct 18, 2010 12:41pm
Quoting Pinbar
Sometimes, I see a few people post a chart like this, it hits me that this is how we need to keep it simple.

I am trying to Keep It Simple, my mind doesn't like it and that is where the battleground is, not only on the charts.


Thanks for the encouragement Caesar.
Bingo!

As Jim says, it is what is b/w our ears that stops us most

Recognizing this is a big part of the battle

Mike
  • #77,715
  • Oct 18, 2010 12:44pm Oct 18, 2010 12:44pm
Quoting mbqb11
Hey Melvin

Yes location trumps all, but bar structure + location is very important as a whole. But you are correct in general terms

Mike
Okok thanks Mike and Jonny!
  • #77,716
  • Edited 1:06pm Oct 18, 2010 12:52pm | Edited 1:06pm
Could anyone agree that i understand the PPZ Levels right please?

That is the AUDJPY Chart where the Price is stucking in the sideways channel at the moment.

Hope i understand it right ^^

Edit: Oh i forgot to post the Chart lol

john225 ;-)
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  • #77,717
  • Oct 18, 2010 12:53pm Oct 18, 2010 12:53pm
IF EURUSD closes tonight over 1.4000, any opinions on going Long off this Pin ?

My logic: price has prev closed through 1.4000 and has retraced for the test and bounced. If it closes over 1.4000 again with this good sized pin for a continuation long ?
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  • #77,718
  • Oct 18, 2010 12:55pm Oct 18, 2010 12:55pm
Quoting Pinbar
Yes, JL, it looks like a rocky ride down.

I am also thinking the top and bottom, but preferably the top, is where we want to see the PA off.
I agree Pin, I have a feeling the true breakout of this one will be a very pretty picture

J
  • #77,719
  • Oct 18, 2010 1:14pm Oct 18, 2010 1:14pm
Thanks for your view , always a pleasure to see your charts
D
  • #77,720
  • Oct 18, 2010 1:26pm Oct 18, 2010 1:26pm
Hi and sorry for my english

This is my shot at the AJ pair. Everybody are making money buying this one at the 79.70-80 area and imagine how many stops are accumulated at the blue rectangle ... i mean c'mon look at the wiks and how fast the price is running away from the support everytime it touch it. Now take the current market condition with aud being one of the strongest currency right now. On the other hand we got bank of japan with promise of intervention (and I believe it will happen at some point , maybe when usd will stabilize...80 level @ UJ??). I cant imagine better pair for carry trade at the moment but i can imagine price making false breakout to the downside just to buy into stops below the 80 area. It is just a thought but it makes a lot of sense for me.......time will tell anyway
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