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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

  • #80,681
  • Nov 23, 2010 8:12am Nov 23, 2010 8:12am
Quoting xmzhang
The entry was also very near a weekly PPZ/RNB @ 8600, I think Adi traded right into this PPZ.

That could be, xmz . . but the previous bar High (in purple) could not find Support. It was acting as strong Resistance.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,682
  • Nov 23, 2010 8:14am Nov 23, 2010 8:14am
Quoting Osman
Hi Danny,

Nice trade EUR/JPY... just a question, I see you took the BEOB, I was concerned it didnt touch the 115 level, so IMO location wasnt very good, there is a ppz around 114.767 which price wasnt able to close above it and was rejected on the 07-28 , you took it base on that ppz ?

Thx.
Hey Os, yes. The area was strong in my opinion not only because of the 7/28 rejection, but also the recent rejections in early October and early November. I took an aggressive entry, but the BEOB helped me stay in.

Hope this is clear.

-- Danny
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  • #80,683
  • Nov 23, 2010 8:34am Nov 23, 2010 8:34am
I see.. thx for your answer Danny.

Quoting bluetrader
Hey Os, yes. The area was strong in my opinion not only because of the 7/28 rejection, but also the recent rejections in early October and early November. I took an aggressive entry, but the BEOB helped me stay in.

Hope this is clear.

-- Danny
Trade Smart
  • #80,684
  • Nov 23, 2010 8:35am Nov 23, 2010 8:35am
Anybody took this one ?

I didnt
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Trade Smart
  • #80,685
  • Nov 23, 2010 8:52am Nov 23, 2010 8:52am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
I missed the GJ, but I took the EJ and EU and rode the bronco.... yeeehaaaaa
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I have seen the enemy, and it is me.
  • #80,686
  • Nov 23, 2010 8:57am Nov 23, 2010 8:57am
Quoting mbqb11
I took my take profit a bit lower but exactly how I saw it. Quick hitter, on a short week . xxx/jpys really broke out which is nice to see. Let's get some action before turkey day

Well done danny
Mike,

On IBFX, I spotted both NZDCHF and NZJPY. Both are BEOB but I preferred NZDCHF better than NZDJPY.. (not aware of Korean attack).. The NZDCHF is so far working out ok.

But my question is -to your eyes, which pair has more probability of winning the trade ?

If you have to take ONLY one trade, which one you will prefer to take ?


NZDJPY:
BEOB:
Engulfed 2 bars.
Swing High
Close is great.. no wic
Off from 65

NZDCHF:
BEOB:
Engulfed 4 bars, including the big bullish bar (not in the case of NZDJPY)
Swing High
Close is great
Broke through weekly PPZ .7650
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  • #80,687
  • Nov 23, 2010 9:08am Nov 23, 2010 9:08am
Quick 50 pips.

PB + PPZ rejection + divergence = kaboom.
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  • #80,688
  • Nov 23, 2010 9:29am Nov 23, 2010 9:29am
Hi everyone, I've stumbled upon this thread after googling for price action. After reading the basic to pins and doing some backtesting I find that it works pretty well and the way it works is also very easy to understand. I hope to learn more from all the pros here.
  • #80,689
  • Nov 23, 2010 9:42am Nov 23, 2010 9:42am
Quoting cprao
Mike,

On IBFX, I spotted both NZDCHF and NZJPY. Both are BEOB but I preferred NZDCHF better than NZDJPY.. (not aware of Korean attack).. The NZDCHF is so far working out ok.

But my question is -to your eyes, which pair has more probability of winning the trade ?

If you have to take ONLY one trade, which one you will prefer to take ?


NZDJPY:
BEOB:
Engulfed 2 bars.
Swing High
Close is great.. no wic
Off from 65

NZDCHF:
BEOB:
Engulfed 4 bars, including the big bullish bar (not in the case of NZDJPY)
Swing High
Close is great
Broke through...
Hey C

THat nzd/chf is technically engulfing a sunday bar which as per James we ignore. So technically that isn't a beob. If that sunday bar was say a monday bar I still would prefer the nzd/jpy as it sits higher up and I want my beob to be the highest high in a true reversal form like this. So technically the nzd/chf is just a BEB and doesn't have a wick where the nzd/jpy sticks above and is the last high piercing our BRN as well. To me more confluence and better bar structure(aside from nzd/chf not meeting the conditions) as per MY rules.

Again just how I see it


Mike
  • #80,690
  • Nov 23, 2010 10:01am Nov 23, 2010 10:01am
Quoting fxtsun
Quick 50 pips.

PB + PPZ rejection + divergence = kaboom.
this was a really really nice trade I wish I didn't miss

Nice job sun

Mike
  • #80,691
  • Nov 23, 2010 10:03am Nov 23, 2010 10:03am
Quoting john225
Thanks mike

For me: EURUSD Long PB Weekly stopped out :-(
Yes you are not alone. I took it also but I learned a valuable lesson that I should wait for price action and not rush.

I am not sure if any of the senior members here agree with me but the first 12 hours of the trade were not promising for that weekly pinbar. (please see attached image)

Your input is highly appreciated.

Thanks
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  • #80,692
  • Nov 23, 2010 11:17am Nov 23, 2010 11:17am
Quoting mbqb11
this was a really really nice trade I wish I didn't miss

Nice job sun

Mike
What can I say Mike,

This couldn't have happened without the continuous help from you and all of the other J16 seniors members.

You guys are answering the same questions over and over for how many years now?

Slowly the pieces are coming together for me. Somebody said somewhere that
all you need really is to read the thread from the beginning over and over again until things will start to repeat themselves in your brain.

I would listen to that guy
  • #80,693
  • Nov 23, 2010 11:18am Nov 23, 2010 11:18am
About four weeks since i last sent out a message and a strange sensation to say the least.

5 years is a long time and the last 5 have been spent pretty much without totally walking away from the group or FF for more than a weekend or so.,

Turning 50 has been a bit "tough" on me and my wife says its manapause which my 12 year old son gets a big kick out of.
"Hormones messed up dad?" has been heard more than once.

"Actually i think any 50 year old guy with a 4 and 12 year old might have a few "interesting" thought process during that time Ryan". was my reply. lol.

I know I know its just a number but you 50 year olds out there try it with a 4 year old and get back to me. lololo.
Little guy is the biggest blessing in my life but boy he flat wears me out.

ok enough violin playing.

THANK YOU THANK YOU THANK YOU TO ALL THE HAPPY BIRTHDAY WISHES.

OLD Jim returns next week to his rightful place as honorary king of the group and thread. We all know who the real kings are and they aint me.

With a tear in my eye and gratitude in my heart i thank all of you that have kept the group and the free thread going over the years. neither young jim or old jim would have had a stinking prayer without all of you.

I LOVE YOU,
OLD JIM
  • #80,694
  • Nov 23, 2010 11:25am Nov 23, 2010 11:25am
I missed all the fun today (dang work)....appears there were some great moves off decent locations... Good job to those Jey and Sun!

Fwiw here's an update on a chart earlier in the week....of course i opened my big mouth and said i'm not of fan of Head and Shoulders....and 2 come to fruition...so i eat crow
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  • #80,695
  • Nov 23, 2010 11:32am Nov 23, 2010 11:32am
Quoting james16
.

I know I know its just a number but you 50 year olds out there try it with a 4 year old and get back to me. lololo.
Heads up James ....from an over 50 with teens.....save some of your mental energy....your going to need it when them kids get older
  • #80,696
  • Nov 23, 2010 11:34am Nov 23, 2010 11:34am
Quoting james16
About four weeks since i last sent out a message and a strange sensation to say the least.

5 years is a long time and the last 5 have been spent pretty much without totally walking away from the group or FF for more than a weekend or so.,

Turning 50 has been a bit "tough" on me and my wife says its manapause which my 12 year old son gets a big kick out of.
"Hormones messed up dad?" has been heard more than once.

"Actually i think any 50 year old guy with a 4 and 12 year old might have a few "interesting" thought process during that...
Happy belated birthday big guy - and thank you for starting this thread and the PF
Anything can happen.
  • #80,697
  • Nov 23, 2010 11:39am Nov 23, 2010 11:39am
Quoting james16
About four weeks since i last sent out a message and a strange sensation to say the least.

5 years is a long time and the last 5 have been spent pretty much without totally walking away from the group or FF for more than a weekend or so.,

Turning 50 has been a bit "tough" on me and my wife says its manapause which my 12 year old son gets a big kick out of.
"Hormones messed up dad?" has been heard more than once.

"Actually i think any 50 year old guy with a 4 and 12 year old might have a few "interesting" thought process during that...
Hi Jim,

50's no big deal it's how old you feel that's important - and kids make you feel young.
  • #80,698
  • Edited 11:58am Nov 23, 2010 11:40am | Edited 11:58am
I missed all the big moves today which I'm OK with as I'm semi live on a micro account now (stage 2 minimum requirements) and would rather stay out of the market when craziness is happening.

Not sure what tomorrow will bring but the only chart I'm watching at the mo is CHF/JPY. In a bit of traffic but could be a possible break out if it breaks 83.00? The 83 RN lines up with the 50% (not a fib level) which it bounced off of. The high of the BEOB is almost to the pip of the 61.8%

Would be nice to see a strong close below 83 followed by a retest and some PA to confirm support flipping to resistance.
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Anything can happen.
  • #80,699
  • Nov 23, 2010 12:18pm Nov 23, 2010 12:18pm
Quoting james16
THANK YOU THANK YOU THANK YOU TO ALL THE HAPPY BIRTHDAY WISHES.

OLD Jim returns next week to his rightful place as honorary king of the group and thread. We all know who the real kings are and they aint me.

With a tear in my eye and gratitude in my heart i thank all of you that have kept the group and the free thread going over the years. neither young jim or old jim would have had a stinking prayer without all of you.

I LOVE YOU,
OLD JIM
Welcome back Sir !
So happy to have you back on this thread.
  • #80,700
  • Nov 23, 2010 1:05pm Nov 23, 2010 1:05pm
Quoting mbqb11
Hey C

THat nzd/chf is technically engulfing a sunday bar which as per James we ignore. So technically that isn't a beob. If that sunday bar was say a monday bar I still would prefer the nzd/jpy as it sits higher up and I want my beob to be the highest high in a true reversal form like this. So technically the nzd/chf is just a BEB and doesn't have a wick where the nzd/jpy sticks above and is the last high piercing our BRN as well. To me more confluence and better bar structure(aside from nzd/chf not meeting the conditions) as per MY rules.

Again...
Thank you Mike.. As I understand NZD/CHF is technially not a BEOB since Sunday bar is not accounted for.
I do also see NZDJPY BEOB starts little higher than NZDCHF which is another confluence factor to be accounted for.

However, how about the close of the bar ? NZDCHF bar is big in size and engulfing the big 11/18 bullish bar and NZDJPY did not ..
Does this not one of the factor to consider ?

In fact, I considered this fact in NZDCHF - not only the bar is big and also engulfed the 11/18 big bullish bar.. indicating that it passed through the resistance of the big bar..

Mike, Any comments on this one is appreciated..
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