james16 Chart Thread | Page 4087 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #81,721
  • Edited 7:01pm Dec 6, 2010 5:46pm | Edited 7:01pm
Quoting jarroo
The Daily had no obvious PA on it but the 2 Day TF showed a nice BEOB engulfing a couple of other 2 Day bars. Price is showed breaking through the .9850 of previous Support . . much like the Weekly TF did.

On the 4 Hour Time frame, we have a BUOB . .

At a swing Low, good Space, good Size, little traffic, at 61.8 fib retracement level, above a RN, .9800, nice hard break . . its what we look for .

Target(s) . previous bar High/Lows. Knowing what we know on the higher TFs, the .9850 looks like a pretty good target, wouldn't you say?
Attached Image (click to enlarge)
Click to Enlarge Name: chfusdwaddddddddd44.jpg Size: 126 KB
Indicators show the past. Price Action "Indicates" the future.
  • #81,722
  • Edited 6:40pm Dec 6, 2010 6:13pm | Edited 6:40pm
Quoting jarroo
On the 4 Hour Time frame, we have a BUOB . .

At a swing Low, good Space, little traffic, at 61.8 fib retracement level, above a RN, .9800, nice hard break . . its what we look for .

Target(s) . previous bar High/Lows. Knowing what we know on the higher TFs, the .9850 looks like a pretty good target, wouldn't you say?

On the Hourly TF, I look for strong PPZ levels on the Higher time frames.

Once located, what is that PPZ level currently act as? . meaning, is it acting as Support or Resistance because of how Price broke through it and how it closed.

We know from the Weekly and 2 Day charts that .9850 is a PPZ level currently looking to act as Resistance because Price broke through it as previous Support.

We now wait it see if Price can make it back or retrace to this .9850 level and see if any bearish PA can confirm it as acting as Resistance.

Price reaches the .9850 level . . and a hourly BEOB at this level is presented. Mike's words rings so true about the size of PA . .the bigger, the better especailly on the Hourly.

The size may not be huge but its not bad size-wise. Also, we have a confluence with the 50%-61.8 fib at this level, we're with the down trend and we have some Space available.

Knowing that BEOBs will retrace to its previous bar Low (and we know why it does), the .9850 is a perfect entry.

I hope I answered most of the questions concerning these setups on the Usd/Chf, for those that asked.

I believe this is a good example of trading TFs indepentently yet knowing what's going on . .on the higher TFs is important.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfusdwaddddddddd442d.jpg Size: 106 KB
Click to Enlarge Name: chfusdwaddddddddd442d11111111111.jpg Size: 120 KB
Indicators show the past. Price Action "Indicates" the future.
  • #81,723
  • Dec 6, 2010 6:15pm Dec 6, 2010 6:15pm
Morning Jarroo


Interesting USD/CHF post and the retracement of a BEOB to the previous bar low you are talking about, fits in perfectly with this post I made to XMZ asking about the Monthly BEOB and the weekly PB on EU.

I am thinking that because of the nature of price retracing to test the Previous bar low of the BEOB on monthly, even though it is a bearish PA signal on the monthly TF, the weekly bullish PB does not really conflict with it because we can still expect a retest of the BEOB previous bar low.

Any chance you could comment on this.

Here is the post.

Thanks in advance.


PS: I realize unless the weekly PB actually breaks, this is all academic.

http://www.forexfactory.com/showpost...ostcount=81719
  • #81,724
  • Dec 6, 2010 6:26pm Dec 6, 2010 6:26pm
Quoting Pinbar
Morning Jarroo


Interesting USD/CHF post and the retracement of a BEOB to the previous bar low you are talking about, fits in perfectly with this post I made to XMZ asking about the Monthly BEOB and the weekly PB on EU.

I am thinking that because of the nature of price retracing to test the Previous bar low of the BEOB on monthly, even though it is a bearish PA signal on the monthly TF, the weekly bullish PB does not really conflict with it because we can still expect a retest of the BEOB previous bar low.

Any chance you could comment on...
Yes I saw your post on the Eur/usd.

Absolutely . .we can have mixed signals on different TFs and all of them can work out as expected. Just be sure that the setup on that given TF has all the making of a quality setup. . .meaning Size, Space, PPZ levels, Confluences, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #81,725
  • Dec 6, 2010 6:33pm Dec 6, 2010 6:33pm
Quoting jarroo
Yes I saw your post on the Eur/usd.

Absolutely . .we can have mixed signals on different TFs and all of them can work out as expected. Just be sure that the setup on that given TF has all the making of a quality setup. . .meaning Size, Space, PPZ levels, Confluences, etc.

I am thinking that monthly BEOB has more traffic in front of it than the weekly PB. Thus, a retrace is quite possible.


Thanks Jarroo.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.jpg Size: 65 KB
  • #81,726
  • Dec 6, 2010 6:33pm Dec 6, 2010 6:33pm
Quoting g_j_hook@yah
cheers,yeah,price has been huggin that area all day. wonder which way it brakes?? oscillators have are bottoming out quickly which is usually a fairly bullish sign in my experience but we will soon see!
i took a 1h BEOB on the eu/yen last night which turned out good. banked half and have my SL in profit.

Very nice jon . .the 111.00 was a higher TF PPZ looking to act as Resistance . . .classic . .


What's an oscillator??? . . . (jk...)
Indicators show the past. Price Action "Indicates" the future.
  • #81,727
  • Dec 6, 2010 6:48pm Dec 6, 2010 6:48pm
Quoting Pinbar
I am thinking that monthly BEOB has more traffic in front of it than the weekly PB. Thus, a retrace is quite possible.


Thanks Jarroo.

So that Weekly bullish PB could bring Price to the previous bar low of the Monthly BEOB . . .this would not surprise us, correct?
Indicators show the past. Price Action "Indicates" the future.
  • #81,728
  • Dec 6, 2010 6:50pm Dec 6, 2010 6:50pm
Quoting jarroo
So that Weekly bullish PB could bring Price to the previous bar low of the Monthly BEOB . . .this would not surprise us, correct?
Right, that is what I am trying to convey.

The 365 EMA and the consolidation may act in favor of the weekly PB.
I know it has a BRN to overcome but if we can get above it, it may show us bullish PA off the pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 98 KB
  • #81,729
  • Dec 6, 2010 6:52pm Dec 6, 2010 6:52pm
Quoting Pinbar
Right, that is what I am trying to convey.

The 365 EMA may act in favor of the weekly PB.
I and James16 (and others) would agree with you that the 365 ema on the Weekly TF is added support (confluence) to the Weekly PB.


gotta go

Later

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #81,730
  • Dec 6, 2010 7:05pm Dec 6, 2010 7:05pm
Quoting jarroo
I and James16 (and others) would agree with you that the 365 ema on the Weekly TF is added support (confluence) to the Weekly PB.


gotta go

Later

Jim

Many thanks Jim...I shall still keep an open mind to it, which ever way it breaks.
  • #81,731
  • Dec 6, 2010 8:14pm Dec 6, 2010 8:14pm
Quoting jarroo


What's an oscillator??? . . . (jk...)
lol ya know...it goes from over spent to under funded...?...ah, no wait a minute...that would be my bank account!! lol
PATIENCE... DISCIPLINE
  • #81,732
  • Dec 6, 2010 8:23pm Dec 6, 2010 8:23pm
Quoting xmzhang
Hey Dave, let me take a daily setup as a example. After the close of that daily setup price may perform in general 3 actions afterwards:
1. It may break/validate the daily PA hard and then takes off
2. It may break/validate the daily PA just slightly/weakly and then pulling back into the daily PA
3. It may not break/validate the daily PA at all and pulls immediately back into the daily PA.
If (1) occurs then that's back luck for me and the most I can expect is an possible pullback to the breakaway point for an entry.
If (1) or (3) occurs, then...
It does; thank you very much!

--Dave
  • #81,733
  • Dec 6, 2010 8:37pm Dec 6, 2010 8:37pm
AUD/USD may be interesting.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 94 KB
Click to Enlarge Name: w.jpg Size: 100 KB
Click to Enlarge Name: d.jpg Size: 113 KB
Click to Enlarge Name: 4.jpg Size: 108 KB
  • #81,734
  • Dec 6, 2010 10:20pm Dec 6, 2010 10:20pm
Good morning

Aggressive play of Pin triggered at 1.3320

Will take half off and move SL to 1.3300 if price can get to 1.3400 ish

London opening will be interesting to see if they share Asia's bullish outlook.

However, the 1.3300 is like a magnet so a return to their would not be surprising. The 1.3308 EST close y'day was a good signal as was the fact that the bears couldnt get price below 1.3250 (I know the range was like 170 pips at that stage)

The 365 EMA, the Daily PPZ at 1.3300 and the Daily TL all are good reasons to be bullish but you never know

Take care

Anthony
  • #81,735
  • Dec 6, 2010 10:21pm Dec 6, 2010 10:21pm
Sorry,. here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: e - u daily.gif Size: 36 KB
  • #81,736
  • Edited 11:54pm Dec 6, 2010 11:40pm | Edited 11:54pm
Quoting antgal23
Sorry,. here is the chart

What pin is that, I don't see any pins on your chart?

I see a Daily IB two bars back but the close is lower than the open and more than half way down the bar.

You mean this weekly PB that has yet to trigger?
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 93 KB
  • #81,737
  • Dec 7, 2010 12:20am Dec 7, 2010 12:20am
yep, weekly e-u pin
  • #81,738
  • Dec 7, 2010 12:27am Dec 7, 2010 12:27am
Quoting antgal23
yep, weekly e-u pin
Wow, that is very aggressive considering the massive BEOB on the monthly and the 1.35000 BRN.

Hope it breaks in your favor Antgal.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 96 KB
  • #81,739
  • Dec 7, 2010 12:48am Dec 7, 2010 12:48am
If anyone is interested, here is a nice simple Line alert to warn us when price hits a level we drag the line to. I am using this a lot recently.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 101 KB
Attached File(s)
File Type: mq4 HLine Alert.mq4   2 KB | 433 downloads
  • #81,740
  • Dec 7, 2010 12:54am Dec 7, 2010 12:54am
Hey Pin

it can be argued either way i think . there was a clear rejection off the 1.3000 level (not giving us the break) and y'day we had the restest of the 1.3300 and 1.3250 levels.

If price had tested the 1.3200 and a 1.3280 close then I wouldnt be in the trade. The NY session kept price around the 1.3275 with a 1.3308 close.

The 1.33000 - 1.3450 levels for me show there is no directional bias re: the sentiment. What I want to see happen is a strong push to 1.3400 with a 1.3375 ish close.

Lets see what London throughs at me!
197 traders viewing now