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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

  • #78,761
  • Oct 28, 2010 8:22pm Oct 28, 2010 8:22pm
Quoting Donkey
Based on the chart in the linked post, 1.3000 on AUDNZD looks like a nice area to watch for a reaction.
1.3000 broken and retested with a nice BEOB. I have a pending demo short very close to triggering.
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  • #78,762
  • Oct 28, 2010 8:40pm Oct 28, 2010 8:40pm
You could look at it like a 2bar pin bar. Just combine the open and close of those two bars and essentially, if this were and 8hour chart, you would have the two 4hour bars making a pin bar.

However since it seems you are new (strictly judging by your post count, no offense) I would recommend just taking this stuff bit by bit and not to add too much at once. In other words don't go crazy trying to turn everything into something that you can trade, only take the best setups.

IMO though this 2bar pin is a tradable setup because of the ppz you pointed out and the space created. However I can't say for sure if I would've traded it because I didn't see this one live.

Quoting Asmodeus8
Its a nice location to look for something. I just wonder could we call it "Lower close" ?




http://img594.imageshack.us/img594/3195/kangur.gif
  • #78,763
  • Oct 28, 2010 8:48pm Oct 28, 2010 8:48pm
Quoting Donkey
1.3000 broken and retested with a nice BEOB. I have a pending demo short very close to triggering.


Donkey, zoom out a bit more on the daily.

That BEOB on H4 is at a swing low, is it not?
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  • #78,764
  • Oct 28, 2010 9:39pm Oct 28, 2010 9:39pm
Stop to 112.65 after I took this pic, which eliminates almost all the risk on the trade.

We gave one last push to the 113 yesterday.

g.
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I believe . . .
  • #78,765
  • Oct 28, 2010 10:19pm Oct 28, 2010 10:19pm
Quoting Pinbar
Donkey, zoom out a bit more on the daily.

That BEOB on H4 is at a swing low, is it not?
Hi PB. On 4h it looks to be making lower lows and higher highs. But I've been watching this pair at 1.3000 with interest for a while. What I believe I'm catching is what Jarroo mentions as support turning into resistance.

Take a look at the BEOB forming on weekly and the double top. On the daily the tiny little pin looking bar a few days ago caught my interest. However way too much consolidation on the small bar. Although there are several pockets of consolidation on the 4H to be concerned with, if we can push through this could be a decent trade. Maybe I'm getting in on that Weekly BEOB at a discount.

I did take a -.4R on the last break of 1.3000 on Oct. 5, so price could definitely reverse back. Also, Trade hasn't triggered yet, so the whole scenario could be an exercise in futility....
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  • #78,766
  • Oct 28, 2010 10:19pm Oct 28, 2010 10:19pm
Quoting Pinbar
I am watching that NZD/USD Daily PB but on the M30 tf.

I am only watching the M30 because it is a faster TF, ppzs are ppzs on any tf.


It is interesting how the M30 candle just closed above the 365 but is still below the BRN.


EDIT: M5 gives us a slightly clearer picture of where the PPZ got polarized from resistance to support, shows us the mechanics of it.

Now I know why Jarroo previously mentioned he will sometimes look at a small tf to get a clearer picture of how price reacted to a PPZ.

Really interesting once we grasp the concept...

Interesting how the 5Min Nzd/Usd looks just like Daily #YMZ0, Price acted the same way on both.

Price acts like this over and over again . . .just give me a chart . . any chart . .
Indicators show the past. Price Action "Indicates" the future.
  • #78,767
  • Oct 28, 2010 10:24pm Oct 28, 2010 10:24pm
Quoting jarroo
Just an update.
Update . .

I should put these on moving GIF file . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #78,768
  • Oct 28, 2010 10:37pm Oct 28, 2010 10:37pm
Quoting Donkey
Hi PB....


Thanks for your input D.
It is always great to hear others people's opinion about things, balances us out.


This is how I am looking at it right now. Indeed trying to do that Jarroo Thingy! LoL
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  • #78,769
  • Oct 28, 2010 10:40pm Oct 28, 2010 10:40pm
Quoting Donkey
Hi PB. On 4h it looks to be making lower lows and higher highs. But I've been watching this pair at 1.3000 with interest for a while. What I believe I'm catching is what Jarroo mentions as support turning into resistance.

Take a look at the BEOB forming on weekly and the double top. On the daily the tiny little pin looking bar a few days ago caught my interest. However way too much consolidation on the small bar. Although there are several pockets of consolidation on the 4H to be concerned with, if we can push through this could be a decent trade....
The 1.2900 is a key level on the Monthly. What I mean by that is if Price can close below the 1.2900 this month we may see some more bearish movement to the downside . .the Weekly BEOB (if it closes that way) may be the poker tell.

Or if Price stay above the 1.2900 by month's end, we could be in for some more uptrend movement.

Makes sense to you, D.??
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Indicators show the past. Price Action "Indicates" the future.
  • #78,770
  • Oct 28, 2010 10:41pm Oct 28, 2010 10:41pm
Quoting jarroo
Interesting how the 5Min Nzd/Usd looks just like Daily #YMZ0, Price acted the same way on both.

Price acts like this over and over again . . .just give me a chart . . any chart . .

Yes, it was an interesting exercise, I just watching price behave how we expect it to, instills confidence.


Any chart? Ok, Here you go.


I am sure this is not tricky enough.
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  • #78,771
  • Oct 28, 2010 10:52pm Oct 28, 2010 10:52pm
Quoting Pinbar
Yes, it was an interesting exercise, I just watching price behave how we expect it to, instills confidence.


Any chart? Ok, Here you go.


I am sure this is not tricky enough.

Sure thing Pb . .check the lower time frames (Daily, Weekly) to see if PA gave any opportunities with this analysis . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #78,772
  • Oct 28, 2010 11:05pm Oct 28, 2010 11:05pm
Quoting NosferatuMan
GBPJPY did OK.

Still on GBPAUD.


Nos

Very nice, Nos . .
Indicators show the past. Price Action "Indicates" the future.
  • #78,773
  • Oct 28, 2010 11:07pm Oct 28, 2010 11:07pm
Quoting Pinbar
EDIT:
Now, I understand the comment someone made the other day, about, "Just because price violates a strong PPZ it does not mean that the PPZ has become weak".

It is the strength or weakness of the buyers at a PPZ that determine this and not the PPZ.


LIGHT goes on in head.

"Hanging in Space bars" . . ???
Indicators show the past. Price Action "Indicates" the future.
  • #78,774
  • Oct 28, 2010 11:12pm Oct 28, 2010 11:12pm
Quoting jarroo
Sure thing Pb . .check the lower time frames (Daily, Weekly) to see if PA gave any opportunities with this analysis . . .

The BEOB looks like one.
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  • #78,775
  • Oct 28, 2010 11:14pm Oct 28, 2010 11:14pm
Quoting jarroo
"Hanging in Space bars" . . ???

Yeah, it was just a bar that straddled the PPZ and closed below it or above it.


Sort of like these two, if we only have one ppz on the chart.

It is actually the bar that breaks the ppz and closes either above or below it.


With only a single ppz on the chart it sort of looks like it is hanging in limbo.
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  • #78,776
  • Oct 28, 2010 11:17pm Oct 28, 2010 11:17pm
Quoting Pinbar
The BEOB looks like one.

Yeah . .not a very strong close below previous resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #78,777
  • Oct 28, 2010 11:19pm Oct 28, 2010 11:19pm
Quoting jarroo
Yeah . .not a very strong close below previous resistance.

Yes, I forgot about that.

Which is your choice?



I bit off more than I could chew with that chart. LoL
  • #78,778
  • Oct 28, 2010 11:19pm Oct 28, 2010 11:19pm
Quoting Pinbar
Yeah, it was just a bar that straddled the PPZ and closed below it or above it.


Sort of like these two, if we only have one ppz on the chart.

It is actually the bar that breaks the ppz and closes either above or below it.


With only a single ppz on the chart it sort of looks like it is hanging in limbo.

Oh . . . .the bar that breaks, yes.
Indicators show the past. Price Action "Indicates" the future.
  • #78,779
  • Oct 28, 2010 11:21pm Oct 28, 2010 11:21pm
Quoting jarroo
The 1.2900 is a key level on the Monthly
Or if Price stay above the 1.2900 by month's end, we could be in for some more uptrend movement. ...
agree Sir.
though i never trade audnzd, i have a PPZ around 1.2800-1.3000, which i believe i plotted last year.
this area has been influential since March1985 (FXPro monthly)

Quoting Donkey
1.3000 broken and retested with a nice BEOB. I have a pending demo short very close to triggering.
i think there's a fair chance price will reach your FTA (your blue box, 1.2900).
if 1.3000 holds (turns into resistance) &price deteriorates further, i think it's possible for price to revisit 1.2300 - 1.2700 area.
having said that, until 1.2000 convincingly breaks, IMHO this pair is bullish.. & if so, i think we'll see 1.3000 as support next year.
  • #78,780
  • Oct 28, 2010 11:22pm Oct 28, 2010 11:22pm
The Jarroo special perhaps. It is at a swing high though.
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