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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

  • #78,861
  • Oct 29, 2010 3:13pm Oct 29, 2010 3:13pm
Quoting esbatu
Hi guys thanks for all your comments.



Hi Han, in my chart they both close lower than the open, although the first one close on the weaker side but it is bigger in size. Both also fighting the same downtrend and trading right into ppz.



Hi Nasir, of...
Is that the only PPZ you have. Share a chart with your PPZ's and I'll happily provide my own thoughts.
  • #78,862
  • Oct 29, 2010 4:10pm Oct 29, 2010 4:10pm
Quoting bluetrader
TRID went where we expected. Where will MMM go next week?

-- Danny
nice chart as usual Danny
this is a no brainer here, pitbull beob swallowing 5 bars
dang! dnt have this on my live acc
have a lovely weekend guys
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Simplicity is the key to success
  • #78,863
  • Oct 29, 2010 4:15pm Oct 29, 2010 4:15pm
Quoting Carnegie
Yeah that happens, we're all learning

Anyway I was wasking, that big bear candle you're referring to as 'BEOB' (=BEARISH outside bar). How can it be bearish outisde bar if the candle before it is also bearish? Shouldn't the candle before it be Bullish?
In that case it encompasses the WHOLE prior candle which it cant do now, because both bars are bearish (negative).. understand how I mean?

If not then I have to ask another question. What is the difference between DBLHC and BUOVB?
They both sound to me as a bullish engulfing? (obiously same...
The restrictions of a outside bar (BEOB/BUOB) concerns only the H/L range of both bars, the H/L range of the first bar has to fall within the H/L range of the second bar. The double high or double low bars have two additional restriction concerning the highs or the lows of both bars and the close of the second bar in relation to the low or high of the first bar. Both highs or lows have to match and the close of the second bar must be exceed the low or high of the first bar . Steve Nilson would call them both simply engulfing barpatterns.
Pipcrawler
  • #78,864
  • Oct 29, 2010 4:37pm Oct 29, 2010 4:37pm
Quoting jarroo
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.??
Sure does. Thanks for all your input. Unfortunately, I only set the order on Oanda to remain open for 4 hours. There was about a 5 pip difference on my Oanda and FXPRO prices and I missed this entry by about 3 or 4 pips.

However, the positive is I made my analysis based on what I've learned here and over at the PF, made a plan, including keeping the order open for only 4H, and stuck to it. In this case, price did what I suspected it would, just about 2 hours late for me to catch one. There will be lots more opportunities, just gotta be patient and wait for high probability setups.
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  • #78,865
  • Oct 29, 2010 4:55pm Oct 29, 2010 4:55pm
Hi Guys,

I am looking at the AUD/CAD Long for when market re-opens.

 

  1. With the trend
  2. BRN
  3. With the weekly trend
  4. Pinbar

Needs to break back through the 1.0000 level first. My order would be at 1.0010 and a target of 1.0164.

Any views?

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"Fail to prepare, prepare to fail."
  • #78,866
  • Oct 29, 2010 5:10pm Oct 29, 2010 5:10pm
Quoting xmzhang
Well stopped out AGAIN on my remaining position, 22 pips on my first 1/2 position though.
I wanted to discuss a trade I took this afternoon which I didn't manage that good. What I saw was a BEOB on the 1H-TF of E-G:
Pros: 1. closed below RNB @ 8700 2. in line with 1H-downtrend 3. engulfing multiple bars 4. off a TL (4th touch)
Cons: 1. Not at a swing high.
My first thought was to wait for a pullback to the 8700 and look for a short-PA on the lower TF for an optimal entry. But I didn't get a clear PA on the 15m-TF at the 8700. My second thought was then to look for a short-PA at previous bar low, at this level I finally got my shorttrigger via a 15m-PB. Entry right after the 15m-PB close @ 8703, SL 5 pips above the 15m-PB high @ 8716. FTA would be of course the low of the 1H-BEOB @ 8683 where I will close 1/2 of my position. Final target would be the floorpivot S2 @ 8668, if price gets there, E-G would also have completed its ADR of +/- 80 pips. So my risk on this trade is only 13 pips and my reward would be 20 pips on the first 1/2 and 35 pips on my remaining position if everthing works out as planned. Well this is what happened: Price reached FTA quite easily and stalled there as expected, I closed 1/2 of my position for a 22 pips profit. I then moved my SL to BE which would be a few pips above RNB @ 8700. I was expecting the 8700 to hold as resistance but it didn't and my SL was hit at BE. In hindsight if I had put my SL a few pips above the 1H-BEOB/TL and had left it there then the trade would have worked out as planned. My risk would then be about 22 pips so 9 pips more than my initial risk. So what I've learned from this trade is that a TOO tight SL might and will screw up an otherwise well planned trade. I already got my optimal entry at a pullback so why then move my SL even lower in order to save another lousy 9 pips !

May the force be with you.
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Pipcrawler
  • #78,867
  • Oct 29, 2010 11:04pm Oct 29, 2010 11:04pm
Quoting lovejoy80
Is that the only PPZ you have. Share a chart with your PPZ's and I'll happily provide my own thoughts.
Here you go lovejoy
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  • #78,868
  • Oct 29, 2010 11:15pm Oct 29, 2010 11:15pm
nice location, nice shape. FTA is marked.
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  • #78,869
  • Oct 29, 2010 11:24pm Oct 29, 2010 11:24pm
this engulfs many bars. location is good. FTA is marked. since it moved so far from high, i will wait for a retracement for entry
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  • #78,870
  • Oct 29, 2010 11:37pm Oct 29, 2010 11:37pm
nice shape, nice location. but straight into FTA area. so pass for me
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  • #78,871
  • Oct 30, 2010 12:00am Oct 30, 2010 12:00am
Quoting HanSolo
The first thing that jumps out at me is the lower close than open and the somewhat serious downmove the first PB had to fight. It's a PB...

Hey HS.

It is really interesting how it always boils down to what Jarroo taught us!

Always!



EDIT: I drank an awful lot last night in Tokyo but not enough to deter me from analysis.

Wonderful stuff once someone kindly removes the blinkers from our eyes, as Jarroo so kindly did.
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  • #78,872
  • Oct 30, 2010 3:10am Oct 30, 2010 3:10am
Quoting esbatu
Here you go lovejoy
Your 1st pin is just below a PPZ - you dont want to be trading into a PPZ you want to be trading away from them. The lower pin was off a third touch off a TL, had divergence and was also in the zone of a larger TF PPZ.

Here are my charts starting with the weekly, then the daily then the 4HR. It's no surprise that the best PA setups occurred in the higher TF PPZ areas.
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  • #78,873
  • Oct 30, 2010 5:14am Oct 30, 2010 5:14am
Just taking a look at Habeeb's newest V5 pivot indicator.

It looks Very, Very good and obviously Habeeb has worked hard on this pivot indicator with the J16 method in mind.

It might be an idea to use this if someone is REALLY having trouble identifying the PPZ, until they get used to seeing them with the pivot indicator.


Great stuff Habeeb.

http://www.forexfactory.com/showpost...ostcount=78479
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  • #78,874
  • Oct 30, 2010 5:24am Oct 30, 2010 5:24am
Not that i was watching this real time ...but to support what you are saying.... even though on my feed the pb was small it had the support of the 150ema on 1st touch of 4H for a move higher.
Quoting lovejoy80
The lower pin was off a third touch off a TL, had divergence and was also in the zone of a larger TF PPZ.

.
http://cdn.forexfactory.com/attachme...1&d=1288426225
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  • #78,875
  • Oct 30, 2010 5:50am Oct 30, 2010 5:50am
Quoting Pinbar
Just taking a look at Habeeb's newest V5 pivot indicator.

It looks Very, Very good and obviously Habeeb has worked hard on this pivot indicator with the J16 method in mind.

It might be an idea to use this if someone is REALLY having trouble identifying the PPZ, until they get used to seeing them with the pivot indicator.


Great stuff Habeeb.

http://www.forexfactory.com/showpost...ostcount=78479
Looks nice thanks PinBar

But there are so many lines i canīt identifie anything xD
  • #78,876
  • Oct 30, 2010 6:03am Oct 30, 2010 6:03am
Quoting john225
Looks nice thanks PinBar

But there are so many lines i canīt identifie anything xD
Try this template. I set the indicator up to show the higher TF pivots.

You can turn off or on the mid levels of any specific TF.
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  • #78,877
  • Oct 30, 2010 6:24am Oct 30, 2010 6:24am
ok thanks PinBar looks better now
  • #78,878
  • Edited 8:50am Oct 30, 2010 8:19am | Edited 8:50am
I know a lot of us were looking at the weekly AUD/NZD BEOB and am wondering how this cup & handle pattern figures into it. I mean, the C&H pattern is a bullish pattern while the BEOB is obviously bearish.
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  • #78,879
  • Oct 30, 2010 9:54am Oct 30, 2010 9:54am
Quoting Pinbar
Hey HS.

It is really interesting how it always boils down to what Jarroo taught us!

Always!

EDIT: I drank an awful lot last night in Tokyo but not enough to deter me from analysis.

Wonderful stuff once someone kindly removes the blinkers from our eyes, as Jarroo so kindly did.
Yes, it is. This week has been amazing for me. After more than two years watching charts and still lacking some basic understanding things finally fall into place. I found it a very useful exercise we did last sunday, PB. Maybe we can make this a habit. Thanks for your help and inspiration!

BTW: Tonight I'll gonna party and you stay at home, PB. Did you hear me?

Quoting Be Cool
Yes I see what you mean. I agree. I'll stick to the most obvious ones once i get the hang of it.

As for the BUOB, that was my mistake - i meant BEOB. Sorry.
Thanks for your help Hans. really appreciate it http://cdn.forexfactory.com/images/s...m/thumbsup.gif
You're welcome.
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,880
  • Oct 30, 2010 12:34pm Oct 30, 2010 12:34pm
Quoting HanSolo
BTW: Tonight I'll gonna party and you stay at home, PB. Did you hear me?
Go to party but don't get over drunk.. This forum needs your active analysis/wisdom to help newbies (like me).
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