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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

  • #84,641
  • Jan 5, 2011 5:12pm Jan 5, 2011 5:12pm
Quoting jarroo
Maybe . .


You know I like those previous bar Highs on BUOBs.
So if all this was a little above BRN (not below like now) you would take it on a retrace to those previous bar highs? something like this?
  • #84,642
  • Jan 5, 2011 5:18pm Jan 5, 2011 5:18pm
Quoting Adilius07
So if all this was a little above BRN (not below like now) you would take it on a retrace to those previous bar highs? something like this?

I love the structure Outside Bars. . .there is a whole story of things going on in this one PA formation . The location, Size, etc., as always, are important . . .as with any PA.

Let me put it this way . .if Price finds Support at this previous bar High(s) (also previous Resistance) . .I like its chances of it breaking the 1.32.
Indicators show the past. Price Action "Indicates" the future.
  • #84,643
  • Jan 5, 2011 5:19pm Jan 5, 2011 5:19pm
Quoting jarroo
I love the structure Outside Bars. . .there is a whole story of things going on in this one PA formation . The location, Size, etc., as always, is important . . .as with any PA.

Let me put it this way . .if Price finds Support at this previous bar High(s) (also previous Resistance) . .I like its chances of it breaking the 1.32.
ok, I think I understand, thanks
  • #84,644
  • Jan 5, 2011 5:21pm Jan 5, 2011 5:21pm
Watching this pair with interest. I see a definite trading range between 1.0200 and 0.9800 with the biggest of RN dead in the middle (looks almost like a control chart with well defined UCL and LCL for any statistics geeks out there).

Anyway....we had daily close below the BRN, with divergence. A couple of scenarios I'll be looking for:

1. would love to see some bearish PA now for a chance to go short. There seems to be nice space below .9800 so if we could get there and close below, maybe a chance for a runner. (shown on chart)

2. Same action as one, but with parity turning back to support for Bullish PA to the top of the range.

3. Price continue to 9800 and 150 ema, close below, and bearish PA for a runner.

4. Price back to 9800 and FTB to 150, with bullish PA.

This is pretty much one of my trading resolutions this year....pick areas on a chart and be prepared for numerous possibilities. As I've learned to date, I've been a little too much, "I'm going long here" and only considering one possibility and outcome, and limiting some chances.

Sorry for the rant!
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  • #84,645
  • Jan 5, 2011 5:22pm Jan 5, 2011 5:22pm
Quoting mbqb11
Hey C

What do your rules say?

There is never going to be a 100% right answer, since we are speaking from a single trade standpoint. I am in this one and leaving my stop b/c of a variety reasons. The strongest being if 1.00 has been broken and confirmed as we are saying the PA is showing(close under on weekly first time as well as the pullback now with the 4hr PA). I am either right and it holds, or I am wrong and the entire wedge pattern will need to be re-evaluated. But my style is more open and letting price work. If you are a quick to...

Thanks for the detailed response. Working on not on moving to BE instantaniously. Trying to use the 2 bar stop to help break the habbit. Did three years of simulated traing in Forex Tester and like it on the 4 hour but see the need for wathcing other "signs" PPZs etc... Just wanted to make sure of the rules for this method.

Also working on posting more often after hanging out here for a few years...
  • #84,646
  • Jan 5, 2011 5:25pm Jan 5, 2011 5:25pm
Quoting Donkey
Watching this pair with interest. I see a definite trading range between 1.0200 and 0.9800 with the biggest of RN dead in the middle (looks almost like a control chart with well defined UCL and LCL for any statistics geeks out there).

Anyway....we had daily close below the BRN, with divergence. A couple of scenarios I'll be looking for:

1. would love to see some bearish PA now for a chance to go short. There seems to be nice space below .9800 so if we could get there and close below, maybe a chance for a runner. (shown on chart)

2. Same action...

I like it D .. .
Indicators show the past. Price Action "Indicates" the future.
  • #84,647
  • Jan 5, 2011 5:26pm Jan 5, 2011 5:26pm
Quoting Caesar
Thanks for the detailed response. Working on not on moving to BE instantaniously. Trying to use the 2 bar stop to help break the habbit. Did three years of simulated traing in Forex Tester and like it on the 4 hour but see the need for wathcing other "signs" PPZs etc... Just wanted to make sure of the rules for this method.

Also working on posting more often after hanging out here for a few years...

I just got through year1 of a 3 yr BT on 4x tester. I'm testing 2 entries (break and retrace) of PBs and Outside Bars, with 3 exits....1) Full profit FTA, 2) 1-bar trailing stop, and 3) 2 bar trailing stop. I should work up some pretty good stats. I set some rules about entry and only got 1 trade on Euro in 2007, so I'll probably be downloading some more pairs. 4x tester is the second best investment since I've started learning 4x (J16 PF membership best investment by far).
  • #84,648
  • Jan 5, 2011 5:42pm Jan 5, 2011 5:42pm
Quoting Donkey
I just got through year1 of a 3 yr BT on 4x tester. I'm testing 2 entries (break and retrace) of PBs and Outside Bars, with 3 exits....1) Full profit FTA, 2) 1-bar trailing stop, and 3) 2 bar trailing stop. I should work up some pretty good stats. I set some rules about entry and only got 1 trade on Euro in 2007, so I'll probably be downloading some more pairs. 4x tester is the second best investment since I've started learning 4x (J16 PF membership best investment by far).
Can't agree more on both points.
  • #84,649
  • Jan 5, 2011 5:45pm Jan 5, 2011 5:45pm
Practicing tghrou chart,I find this.It would have been a nice trade,but do nothing,lesson learned.
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Nothing personal,just business
  • #84,650
  • Jan 5, 2011 5:50pm Jan 5, 2011 5:50pm
Quoting Donkey
Watching this pair with interest. I see a definite trading range between 1.0200 and 0.9800 with the biggest of RN dead in the middle (looks almost like a control chart with well defined UCL and LCL for any statistics geeks out there).

Anyway....we had daily close below the BRN, with divergence. A couple of scenarios I'll be looking for:

1. would love to see some bearish PA now for a chance to go short. There seems to be nice space below .9800 so if we could get there and close below, maybe a chance for a runner. (shown on chart)

2. Same action...

i am personally bullish on AUD.
Its the flood that caused the sell off lately but fundamentals are very bullish so i'll be looking for a bullish PA to get long on this pair..just my 2 cents.
  • #84,651
  • Jan 5, 2011 5:50pm Jan 5, 2011 5:50pm
buy whatever you can

http://www.pring.com/products.htm
  • #84,652
  • Jan 5, 2011 5:59pm Jan 5, 2011 5:59pm
Quoting jarroo
Maybe . .


You know I like those previous bar Highs on BUOBs.
LOL I hope my posts weren't made to think you can't trade setups like this. I always worry about a rant turning into confusion

I am sure we will get into this one tonight hope you will come Jim

I actually think this one probably makes more sense on a retracement then a buy above(which is what I am accustomed too)

You will have to give me retracement lessons
  • #84,653
  • Jan 5, 2011 6:00pm Jan 5, 2011 6:00pm
Quoting triger88990
Mike haven't seen comments like this from you part for a long time, I'm referring to the mindset approach, that everyone should acquire to have.

Or maybe I didn't listen to careful to the sound of the music LOL

Try not to let the cat out of the bag next time (just kidding)

all the best!!
Thanks Trig, I try to stick to the basics in here since we have so many new traders looking for a little light

Hope all is well happy new year to you bud

Mike
  • #84,654
  • Jan 5, 2011 6:04pm Jan 5, 2011 6:04pm
Quoting mbqb11
Hey Teemo

It takes time, a lot of time. The more you see and do(and learn from the good and mostly the bad).

This is a case where if price closed above 1.32 then I would simply trade the BUOB. I don't over complicate it . I analyze location/confluence,price bar structure of bar etc and pull the trigger and manage the trade. So this is a case where most is good but the structure of the BUOB is not good enough. If it was I would simply buy the buob on a break.

I said I don't over complicate it and yes there are a lot of pieces to each of the...
couldn't you just play this as breakout from the 1.32?
  • #84,655
  • Jan 5, 2011 6:07pm Jan 5, 2011 6:07pm
Quoting fxgroup
Practicing tghrou chart,I find this.It would have been a nice trade,but do nothing,lesson learned.

Classic fxg . . . Nice daily PB. The 4 Hour looks like it had some strong bearish PA at the 1.3300 as well. . .well done, sir.


pbtcu . .price breaks through and closes underneath? or under? . . . I get the meaning . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,656
  • Jan 5, 2011 6:11pm Jan 5, 2011 6:11pm
Quoting mbqb11
LOL I hope my posts weren't made to think you can't trade setups like this. I always worry about a rant turning into confusion

I am sure we will get into this one tonight hope you will come Jim

I actually think this one probably makes more sense on a retracement then a buy above(which is what I am accustomed too)

You will have to give me retracement lessons
I'll be there Mike.

You mean you can buy on the top too . .just kidding lol.

I believe you know all about retracements very well my friend . . .you can't kid a kidder . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #84,657
  • Jan 5, 2011 6:21pm Jan 5, 2011 6:21pm
I've closed my long @ 13209 and reversed for a short to fade the daily BUOB via a PB, I'am trying to score some pips off a pullback to one of the previous bar highs ........
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Pipcrawler
  • #84,658
  • Jan 5, 2011 6:29pm Jan 5, 2011 6:29pm
Quoting xmzhang
I've closed my long @ 13209 and reversed for a short to fade the daily BUOB via a PB, I'am trying to score some pips off a pullback to one of the previous bar highs ........

I like the higher TF level . .good scalping off of these levels on the lower TFs.
Indicators show the past. Price Action "Indicates" the future.
  • #84,659
  • Jan 5, 2011 6:32pm Jan 5, 2011 6:32pm
Quoting Adilius07
....and as I saw many times (just by eye balling not trading) when a strong bar closes right on the BRN the successive move can be even stronger (maybe because there are even more stops don't know).
Quoting xmzhang
....and reversed for a short to fade the daily BUOB via a PB, I'am trying to score some pips off a pullback to one of the previous bar highs ........
  • #84,660
  • Jan 5, 2011 6:49pm Jan 5, 2011 6:49pm
Nevermind, just me day dreaming here
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