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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

  • #85,221
  • Jan 11, 2011 10:17am Jan 11, 2011 10:17am
Quoting Ifmyante
Am I right to ignore the DBHLC below due to all the traffic?

Or can it have some significance?
Exactly IMA(ifmyante )

Notice price has fallen very strong and now has paused and consolidated. Very common for the markets. But just have a setup within this range without more information or stronger closings is very difficult to take in the consolidation.

See you are doing just fine already
Mike
  • #85,222
  • Jan 11, 2011 10:20am Jan 11, 2011 10:20am
Thanks Chaos and MB.

Hi, SupremeChaos, by the way. I'm Michael
  • #85,223
  • Jan 11, 2011 10:25am Jan 11, 2011 10:25am
Quoting Ifmyante
I didn't even have that pair charted- the 7 pip spread has alienated me. But it does look prone for something
no prob, sometimes the spread is just 2 pips (on IB).
meine augen sind die sterne
  • #85,224
  • Jan 11, 2011 10:28am Jan 11, 2011 10:28am
Quoting Ifmyante
Thanks Chaos and MB.
Hi, SupremeChaos, by the way. I'm Michael
Michael?
meet Michael/Mike (Sir mbqb11)

how come Michaels of the world are good guys & go-getters?
aside from u two, i 'know' of at least 3 Michaels who do well in life (a high school friend, Michael Jackson & Michael Jordan)

i think this 'confluence' bodes well for u, Ifmyante!
  • #85,225
  • Jan 11, 2011 10:34am Jan 11, 2011 10:34am
Quoting supremeChaos
Michael?
meet Michael/Mike (Sir mbqb11)

how come Michaels of the world are good guys & go-getters?
aside from u two, i 'know' of at least 3 Michaels who do well in life (a high school friend, Michael Jackson & Michael Jordan)

i think this 'confluence' bodes well for u, Ifmyante!
Michael Clarke is also a fine Australian batsman

Michael Tyson is an awesome boxer

Michael Johnson is a Olymic gold medal winner (twice)

Michael J.Fox did a fascinating job in 'Back to the Future'

I say you have a point there Chaos.

g.
I believe . . .
  • #85,226
  • Jan 11, 2011 10:41am Jan 11, 2011 10:41am
Versatile name for versatile people!
  • #85,227
  • Jan 11, 2011 10:53am Jan 11, 2011 10:53am
Ill do so.

Thx Ghous

Quoting ghous
It closed below only by a few pips which still made it a valid trade in my book. What you don't want is an IPB that is close or near a RN or a BRN, because the trade idea supports a nice hard move into the wick of the bar on the very next bar, there's no space for price to go wandering off and testing RNs and BRNs nearby (which it will often do) without taking you out.

Search through my posts with the keyword IPB. You should get enough material. Do the same with Jarroo's posts as well.

Let me know if you have more questions.

g....
Trade Smart
  • #85,228
  • Jan 11, 2011 10:56am Jan 11, 2011 10:56am
thank you supremechaos, i guess i din c all that you saw, you made alot of sense! i was more focuesd on the downtrend and missed all that you pointed out, thank you for the insights! should have just waited at the side lines.

Bethel

Quoting supremeChaos
Hello Bethel,
it looked like a BEOB. but yes u can say it's a PB/BEOB hybrid.

my concerns
-that PB is pretty small & it was a Friday bar.(potentially a profit-taking bar/day)
-2 bars prior it, we had a huge upbar. it may be a sign of things to come.
- 82.60 - 83.00 seem to be a PPZ. so essentially u traded a small pinbar into that PPZ. ideally we trade away from , not towards, a PPZ, to increase the odds that price will move favorably for us.
currently, 83.00 is holding as support.

watch PA around 83.00. i would want 82.50 - 83.00...
  • #85,229
  • Jan 11, 2011 11:17am Jan 11, 2011 11:17am
Quoting jarroo
I would see where the bar closes in relation to Support or Resistance. Your levels are good . .its your PA that not the best . . Not the biggest . .alot of traffic, etc.

Price is a bit boxed in right now at current levels, notice where the closes are . .I would wait until Price breaks out and see what develops . .


Jim
Thanks Bud
Congrats on 10000 posts -keep those charts coming
  • #85,230
  • Jan 11, 2011 11:19am Jan 11, 2011 11:19am
Quoting aserbfx
german volkswagen created a bull flag. these pattern tend to break in direction of the previous main trend. same here. has more upward potential.
+3,55% today. among the top 5 daily perfomers in the german dax.
very strong day...
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meine augen sind die sterne
  • #85,231
  • Jan 11, 2011 11:41am Jan 11, 2011 11:41am
Quoting Osman
Hey Ghous,

To trade an IPB it has to be against the wall... meaning a strong PPZ, no ?

This one closed below 1.25 BRN, it that case it wouldnt be a tradable one.. no ?

Can you provide me a link where I can read more about them.. i still dont get them.

Thx

Os.
SC just provided a link just 1 page back, post #52647
  • #85,232
  • Edited 11:54am Jan 11, 2011 11:43am | Edited 11:54am
Quoting Osman
Hey Ghous,

To trade an IPB it has to be against the wall... meaning a strong PPZ, no ?

This one closed below 1.25 BRN, it that case it wouldnt be a tradable one.. no ?

Can you provide me a link where I can read more about them.. i still dont get them.

Thx

Os.

This is a good point Os, about the Close of the IPB and another point of the Low of the IPB.

I see that ghous saw validity of this IPB, probably because he saw that the mechanics of the IPB were being met.

I (and ghous) veiw the IPB just like any other PA formation . .so the Size, Location, how they close, etc. are all important factors in qualiying the good ones.

The Low of this bullish IPB could have been better . . we like to see them lower than the previous bar low. I like to us a proxy Low/High of the previous bar if the other factors of the IPB look good.



The Close is important in relation to the BRN ( you see, this statement can be applied to any PA or PPZ level) .. . A close above the 125.00 would have been better.

I'll give a couple more examples . . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,233
  • Jan 11, 2011 11:44am Jan 11, 2011 11:44am
Quoting jarroo


The Close is important in relation to the BRN ( you see, this statement can be applied to any PA or PPZ level) .. . A close above the 125.00 would have been better.

I'll give a couple more examples . . .
>>>
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,234
  • Jan 11, 2011 11:45am Jan 11, 2011 11:45am
Quoting ghous
Michael Clarke is also a fine Australian batsman

Michael Tyson is an awesome boxer

Michael Johnson is a Olymic gold medal winner (twice)

Michael J.Fox did a fascinating job in 'Back to the Future'

I say you have a point there Chaos.

g.
But what about Michael Meyers? He was just misunderstood.
  • #85,235
  • Jan 11, 2011 11:53am Jan 11, 2011 11:53am
Quoting Be Cool
Thanks Bud
Congrats on 10000 posts -keep those charts coming

Cool . . Be Cool.

Should be interesting to see where Price closes today on the Daily Gbp/Nzd. . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,236
  • Jan 11, 2011 12:39pm Jan 11, 2011 12:39pm
Quoting jarroo
>>>
Hi Jaroo

Great info thanks

I look forward to reading the next 10,000 posts!

Best to you and yours

Michael
  • #85,237
  • Jan 11, 2011 1:05pm Jan 11, 2011 1:05pm
Hi
A question if I may, if the pb closed as it is now on the audjpy daily Fxpro feed would it be at a swing low or a good position to consider a trade ?
Thanks in advance
Grahame
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  • #85,238
  • Jan 11, 2011 1:27pm Jan 11, 2011 1:27pm
Quoting grahamec
Hi
A question if I may, if the pb closed as it is now on the audjpy daily Fxpro feed would it be at a swing low or a good position to consider a trade ?
Thanks in advance
Grahame
Come on, 95% of price action on your graph is lower than current aud jpy value, don't you have an idea on the answer ?
  • #85,239
  • Jan 11, 2011 1:27pm Jan 11, 2011 1:27pm
Quoting grahamec
Hi
A question if I may, if the pb closed as it is now on the audjpy daily Fxpro feed would it be at a swing low or a good position to consider a trade ?
Thanks in advance
Grahame
In case nobody else answers, I'll tell you what I see, for what little it's worth.

It's not a very convincing PB, but it is sitting on the trendline, which should improve your chances.

Note that this is the input of a noob to PA, so I'm happy to be shot down.

Good luck with it
  • #85,240
  • Jan 11, 2011 1:39pm Jan 11, 2011 1:39pm
Quoting forex0908
http://www.forexfactory.com/showpost...ostcount=37116

http://www.forexfactory.com/showpost...ostcount=37168

0908

Great posts...
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