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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

  • #78,641
  • Oct 27, 2010 4:23pm Oct 27, 2010 4:23pm
Hi gang,

Havenīt been posting lately but here are a couple of charts.

Iīm on this BEOB on H4 GBPJPY. Initial stop above BEOB but moved it just above the next bar after an expected reaction around 128.50. Expecting a test of that area again and, if possible a break to the downside. Could look better, though.

The second one is GBPAUD H8 and I think we have a bit of space to the downside.

EDIT: forgot to say that this second BEB is off a good daily ppz.

Any comments would be very much appreciated.

Nos
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  • #78,642
  • Oct 27, 2010 5:08pm Oct 27, 2010 5:08pm
Sell stop 20 pips below shooting start Pin on GBP/NZD. No time to post chart. Take a looksie.
SL is at top of shooting star shadow. Take profit is at daily support with a80% TP at 50 pips. BE set at 50 Pips.
  • #78,643
  • Oct 27, 2010 5:13pm Oct 27, 2010 5:13pm
thoughts on this one? Pin bar poking into the 1.5700 zone and 365 ema
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  • #78,644
  • Oct 27, 2010 5:21pm Oct 27, 2010 5:21pm
Quoting bigandrich
thoughts on this one? Pin bar poking into the 1.5700 zone and 365 ema
Hey B&R

Careful here I don't see any pinbar. Remember the nose must protrude away from the previous bars high

Best
Mike
  • #78,645
  • Oct 27, 2010 5:55pm Oct 27, 2010 5:55pm
Quoting supremeChaos
zoom out, it's still relatively small.
but possibly hinting at future direction.
a possible huge monthly double bottom, too.


sure, but it already triggered & hit it's FTA!

IBFX does not have much data on this pair, if I zoom out to 2 clicks below the minimum, this is what I get.

Yeah, compared to the 1200 pip bearish monster it is small.
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  • #78,646
  • Oct 27, 2010 6:08pm Oct 27, 2010 6:08pm
Quoting Greenhaze
Just took a full bar loss on 4h pinbar. The location was very good imo and shape beside the close being under the open wasnt bad aswell. I was going to take some of the table and move stop to be at 1.3875 but sadly price didnt make it there. Sometimes it is painfull to watch how one trade can erase gains from previous two.
Ouch, I can relate to that, it often happened when I had " at last " found a bar that looked tradeable.

Apart from what Ghous said, maybe see it this way : look at the overall market pattern or structure, what is it telling you ? On the left you have orderly higher highs and higher lows, then you have a LOWER LOW and a Lower High. This is a classical reversal 1-2-3 pattern.

I know its not easy to see them on such a high TF like 4h.

But this is essentially why I would wait and see if 1.37 is taken out to the downside or not.

Hope that helps.

_____________
michael
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Be like water.
  • #78,647
  • Oct 27, 2010 6:14pm Oct 27, 2010 6:14pm
Quoting grahamec
Hi Pinbar
What's a Jarroo special please
Grahame


Its a BEOB that the look of a PB to it, with the open and close being close together.

Like this one.
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  • #78,648
  • Oct 27, 2010 6:34pm Oct 27, 2010 6:34pm
EU is looking interesting.
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  • #78,649
  • Oct 27, 2010 6:51pm Oct 27, 2010 6:51pm
Quoting mbqb11
Hey B&R

Careful here I don't see any pinbar. Remember the nose must protrude away from the previous bars high

Best
Mike
both these bars look like they have fairly long noses into the 1.57 zone and were rejected, I'll keep an eye on it for sure; thanks
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  • #78,650
  • Oct 27, 2010 6:52pm Oct 27, 2010 6:52pm
Quoting bigandrich
both these bars look like they have fairly long noses into the 1.57 zone and were rejected, I'll keep an eye on it for sure; thanks
Hey Rich

That first green bar is a neutral bar. Notice how the open and close are near the middle and it has "tails" coming from both ends. This indicates indecision. That next red bar is the shape of a pin but it is inside the previous bar which makes it an inside bar. For it to be a pinbar it would have to be shifted all the way up to the top of that green bar so the nose protrudes out of the top end only.

Best
Mike
  • #78,651
  • Oct 27, 2010 6:57pm Oct 27, 2010 6:57pm
Quoting mbqb11
Hey Rich

That first green bar is a neutral bar. Notice how the open and close are near the middle and it has "tails" coming from both ends. This indicates indecision. That next red bar is the shape of a pin but it is inside the previous bar which makes it an inside bar. For it to be a pinbar it would have to be shifted all the way up to the top of that green bar so the nose protrudes out of the top end only.

Best
Mike
got it; thanks for your reply
  • #78,652
  • Edited 7:28pm Oct 27, 2010 7:08pm | Edited 7:28pm
Just thinking to myself here folks, on my second cup of coffee.

EDIT: Actually, we would have been stopped out using Mike's 2 bar stop method in this trade.

I was using the our EP and thus not moving the SL because the next bar was below our EP on the daily.
On the weekly, Mike's 2 bar stop would have kept us in the trade.
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  • #78,653
  • Edited 7:44pm Oct 27, 2010 7:11pm | Edited 7:44pm
Any thoughts on this daily bar on NZD/USD. It looks to me like its on a S+R line and the 50.0 fib level.
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  • #78,654
  • Edited 8:08pm Oct 27, 2010 7:44pm | Edited 8:08pm
Quoting relyt
Any thoughts on this daily bar on NZD/USD. It looks to me like its on a S+R line and the 50.0 fib level.

Maybe waiting for PA in the same direction above the BRN would be more viable.

I don't like the close of the PB being below both he 38.2 and the BRN.

Also, it just stopped Dead on the BRN.


EDIT: This looks like a good one to analyze as Jarroo is showing us. Thanks for bringing it to our attention.
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  • #78,655
  • Oct 27, 2010 8:14pm Oct 27, 2010 8:14pm
Quoting Pinbar
Maybe waiting for PA in the same direction above the BRN would be more viable.

I don't like the close of the PB being below both he 38.2 and the BRN.

Also, it just stopped Dead on the BRN.


EDIT: This looks like a good one to analyze as Jarroo is showing us. Thanks for bringing it to our attention.
the markets will range at similar times. Notice the boxing effect on multiple majors around BRNs. Coincidence ?


which will tip us off nice first
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  • #78,656
  • Oct 27, 2010 8:42pm Oct 27, 2010 8:42pm
Quoting mbqb11
the markets will range at similar times. Notice the boxing effect on multiple majors around BRNs. Coincidence ?


which will tip us off nice first
Thanks for the hint Mike.
So you will be taking all of them? LoL

I know you will just pick the VERY BEST.
  • #78,657
  • Oct 27, 2010 8:45pm Oct 27, 2010 8:45pm
Quoting HanSolo
Hey Ghous,

impatience is not the reason why I'm asking all these dumb questions. The reason why I may sound fretful even about things I don't know how to trade yet and that would surely burn my fingers, is that I am keen to understand what happens on the screen and try to get to the bottom of it. I know it all boils down to experience and doin it yourself, but I still hope that's ok and my questions are no p in the a. Reading and writing here just speeds up learning big time and I really enjoy it. Besides I hope that some other newbies may benefit...
You're not being a p in the a or making a fool of yourself. That was a very good question you asked. It shows that you are attending to the "why?" part during your learning and that alone will take you a long long way.

No question ever is a stupid one so keep em' comin'!

g.
I believe . . .
  • #78,658
  • Oct 27, 2010 9:01pm Oct 27, 2010 9:01pm
Eu weekly IPB:

Missed my tp (1.3730) by 5 pips. Stop in the green just above the 1.39 RN.

Eu daily PB:

Missed by TP again by 4-5 pips, TP was same was the IPB - 13730 or just above those 2 matching lows. Stop in the green above 1.38 in case it does not hold.

Ej BEOB:

We did not get a strong close and the stop get's tightened to just above 113.00. 112.3ish area seems to be holding up at least for now.

g.
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I believe . . .
  • #78,659
  • Oct 27, 2010 9:08pm Oct 27, 2010 9:08pm
Quoting ghous
Eu weekly IPB:

Missed my tp (1.3730) by 5 pips. Stop in the green just above the 1.39 RN.

Eu daily PB:

Missed by TP again by 4-5 pips, TP was same was the IPB - 13730 or just above those 2 matching lows. Stop in the green above 1.38 in case it does not hold.

Ej BEOB:

We did not get a strong close and the stop get's tightened to just above 113.00. 112.3ish area seems to be holding up at least for now.

g.


Always, so uncluttered, simple and confident Ghous.

I wish.... I heard Jarroo's voice in my head!

No, I don't, I will strive to expel the complications from my mind and achieve the simplicity.
  • #78,660
  • Oct 27, 2010 11:56pm Oct 27, 2010 11:56pm
Quoting Pinbar
IBFX does not have much data on this pair, if I zoom out to 2 clicks below the minimum, this is what I get.
is that from IBFX Australia still?
mine has up to July1989 data for the monthly chart.

either scroll back (temporarily disable Auto-scroll feature) or adjust the settings at Tools > Options > Max Bars in Chart (under Charts tab)


***
btw, my charts dont have 'm' after the currency pair names (yours says 'GBPCHFm'; 'm' i think denotes Mini account)
try this.
press Ctrl + O , then under Servers tab, check the server u are using.
does it say "IBFX-MT4 Mini-1" or "Mini-2" etc?
im using 'IBFX-MT4-Demo1 Interbank FX, LLC' server.
see if using this makes a difference.
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