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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

  • #85,621
  • Jan 13, 2011 3:41pm Jan 13, 2011 3:41pm
Quoting menomoo
hi there..
DEpending on where that bar is I would look at it from last two bar versus second last two bars . If last two overwhelmingly looking outside bar than you got something going for u.

ofcourse one should always think the location location location ...

like the realestate.. hope got my drift ...

Cheers

vito
Hi Vito

Yea my thoughts exactly....few pips shouldn't carry to much weight as long as location of PA is good right

tnx
  • #85,622
  • Jan 13, 2011 3:48pm Jan 13, 2011 3:48pm
Quoting DBallerz
Got a psychological issue, how do I stop from constantly checking my trades? I'm always thinking about it and theres a feeling of excitement and anxiety in my stomach even though im risking pretty small amount of money. How do you overcome this? Trade for a while so I don't think its a big deal anymore?
It's YOUR money out there in cyberspace, so of course you'll want to make sure it's doing okay.

But if you only take the AA trades and have managed them properly, you should be confident to walk away knowing that you did all you could.

I'd love to be at that stage
  • #85,623
  • Jan 13, 2011 3:51pm Jan 13, 2011 3:51pm
Quoting Sgrb1
Many thanks for confirming your stance on PA, and for the examples. That's a real nice flip on aussie!



That's the one. Retested the 13100 from above this morning just as you said..

Yeah . . that was a good call on my part, especailly when I was posting this reply and chart, Price was moving down through the 1.3100 .. lol

I don't always get them right like that . . I was just stating what the chart was telling me . .
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Indicators show the past. Price Action "Indicates" the future.
  • #85,624
  • Jan 13, 2011 4:06pm Jan 13, 2011 4:06pm
Quoting nwo-trader
Some more trades, my demo account has done well over the last few weeks
Oh man super nice!!!! So you still hold all three? Fantastic I should say!!!
  • #85,625
  • Jan 13, 2011 4:08pm Jan 13, 2011 4:08pm
Quoting chriskins
Sure

Also the comments after it from Mike etc are funny.

That is funny no matter how many times I read it . .lol

Mike's replies make it a classic . . ."AHA Moment" . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #85,626
  • Jan 13, 2011 4:13pm Jan 13, 2011 4:13pm
Quoting jarroo
That is funny no matter how many times I read it . .lol

Mike's replies make it a classic . . ."AHA Moment" . . .lol
Haha, I think that was a joke though? Right? No way the lightning could struck anyone through the pc, or modem or whatever...Or tv's remote control or whatever
  • #85,627
  • Jan 13, 2011 4:17pm Jan 13, 2011 4:17pm
Quoting Adilius07
Haha, I think that was a joke though? Right? No way the lightning could struck anyone through the pc, or modem or whatever...Or tv's remote control or whatever

He believes it . .it knock him out. . . he woke up on the floor. lol

Whenever I see him on line I always ask if he's bought a new modem lately.
Indicators show the past. Price Action "Indicates" the future.
  • #85,628
  • Jan 13, 2011 4:21pm Jan 13, 2011 4:21pm
Quoting jarroo
He believes it . .it knock him out. . . he woke up on the floor. lol

Whenever I see him on line I always ask if he's bought a new modem lately.
theoretically it could have happen, maybe... But still so hard to believe lol, i would go for Mike's aha moment that happened to that guy... I wonder if he is doing alright with his live account now... Is so I will arrange everything for the lighting to do the same with my pc, we get a lot of those thunderstorms here
  • #85,629
  • Edited 4:42pm Jan 13, 2011 4:22pm | Edited 4:42pm
Quoting xmzhang
The only restriction is that the range of the previous bar is engulfed by the range of the next bar. The position of the close of the engulfing bar relative to the low/high of the engulfed bar is a measure of strength (ie. bearishness/bullishness) of that BEOB/BUOB. The high/low of the engulfed bar acts as resistance/support and a close above/below means breaking and closing above/below that resistance/support. Hope this clears up.

Quoting Ifmyante
Beautifully stated, thanks

Wow . . xmz . . that is a fanastic definition/ explanation of Outside Bars and their relative strengths.


Excellent . .well said, sir . .
Indicators show the past. Price Action "Indicates" the future.
  • #85,630
  • Jan 13, 2011 4:25pm Jan 13, 2011 4:25pm
Quoting Adilius07
theoretically it could have happen, maybe... But still so hard to believe lol, i would go for Mike's aha moment that happened to that guy... I wonder if he is doing alright with his live account now... Is so I will arrange everything for the lighting to do the same with my pc, we get a lot of those thunderstorms here

. .You'll get hit by it, my friend . .it just takes some time . .and you'll be able to keep your modem.
Indicators show the past. Price Action "Indicates" the future.
  • #85,631
  • Jan 13, 2011 4:29pm Jan 13, 2011 4:29pm
Just put an order in on the daily CADCHF....

Reason for entry:

 

  1. 9800 ppz looks to be strong resistance
  2. 150 EMA in confluence with 9800
  3. Third touch of trend line
  4. I like the bar shape and close

What's not to like:

 

  1. Bar could be bigger
  2. Would prefer it off of a BRN rather than RN

Trade plan if bar triggers is to move stop behind 9800 and 150 just above first rectangle.

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  • #85,632
  • Jan 13, 2011 4:36pm Jan 13, 2011 4:36pm
Quoting Donkey
Just put an order in on the daily CADCHF....

Reason for entry:

 

  1. 9800 ppz looks to be strong resistance
  2. 150 EMA in confluence with 9800
  3. Third touch of trend line
  4. I like the bar shape and close

What's not to like:

 

  1. Bar could be bigger
  2. Would prefer it off of a BRN rather than RN

Trade plan if bar triggers is to move stop behind 9800 and 150 just above first rectangle.


Looks great D ..

I also like the Lower Highs and below another level of previous Resistance . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #85,633
  • Jan 13, 2011 4:45pm Jan 13, 2011 4:45pm
Quoting jarroo
Looks great D ..

I also like the Lower Highs and below another level of previous Resistance . . .
Thanks jarroo...I didn't mention, but I did check the weekly...the BEOB closed below last weeks high of 9761 - which is the previous resistance you mentioned. Wonder who I learned to watch for PA in that area from . Price may do something squirrely, but I think this is a high probability set up to FTA and potentially lower.
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  • #85,634
  • Jan 13, 2011 4:51pm Jan 13, 2011 4:51pm
Quoting Donkey
Thanks jarroo...I didn't mention, but I did check the weekly...the BEOB closed below last weeks high of 9761 - which is the previous resistance you mentioned. Wonder who I learned to watch for PA in that area from . Price may do something squirrely, but I think this is a high probability set up to FTA and potentially lower.



Yeah it could act squirrely, it is the Cad/Chf after all . . lol

Yes a high probability trade for sure . . .the more I look at it to find something wrong . .the more I see what's going for it . .


Nice work . .bro . .
Indicators show the past. Price Action "Indicates" the future.
  • #85,635
  • Edited 5:07pm Jan 13, 2011 4:53pm | Edited 5:07pm
Quoting Donkey
Thanks jarroo...I didn't mention, but I did check the weekly...the BEOB closed below last weeks high of 9761 - which is the previous resistance you mentioned. Wonder who I learned to watch for PA in that area from . Price may do something squirrely, but I think this is a high probability set up to FTA and potentially lower.
Hello D, sorry don't get me wrong i just trying to learn. But look if you take higher tf into account, logically you should also take the higher than higher tf into account. If so you could se that on w2 this pa (4 candles before this weekly doji you have right now) will show a 100% bullish retracement bar (not quit buob) then if you again look higher you will see that this w2 engulfing is really a bullish PB on w4. Right? So you fade all this bullish pa at the semi-double bottom so to say?

That's why I hate to go into higher tf's.... What do you think?

Edit: oh and this bullish pb is already triggered (by the current doji bar)
  • #85,636
  • Jan 13, 2011 5:26pm Jan 13, 2011 5:26pm
Quoting forex0908
Ghous / Jarro,

Was this an IPB on EJ this Monday? It's low was lower than that of the previous candle.

Jarroo,

I did not understand when you said in one of your previous posts that "we like to see them lower than the previous bar low." Can you please explain? Why does a lower low (in case of a Bullish IPB) adds to the set-up?

Many Thanks
0908

Attachment

Hey 0908,

Let me restate this in the case of this bullish IPB. . "we like to have the Low of the IPB to be lower than the previous bar Low" . .that is a mouth full. (chart)

We always like to have our PA at or part of the swing point . . in this case, the IPB was part of the lowest point of the swing low.

This IPB looks pretty good . . above the 107.00 RN, at swing Low , etc. but the size could be alot bigger.

We like good size in our PA to show strength . . that it has some power to make the reversal. Conversely, a smaller size PA at the swing low, could mean a slight hesitation or pausing in the the down trend, in this case. And Price could continue downward.

Is it tradable? Sure it is . .but just remember that it could be just a pause in the market because of its size . .which means your trade management needs to reflect that possibility. Meaning a tight trade management placement, which IPBs inherently have . . .which is why I like them. . .

Quoting spookie94
0908,

Thanks for the chart. I just started really looking at IPBs this week so i'm by no means an expert, but I like this one. Its at a swing low, great PA formation (like you said). If closed above BRN 107.00 then thats a plus. FTA is at the lows on those 3 bars (7 bars back) which pretty much lines up with the high of the IPB. Sorry I missed this one.
Ghous would not have liked the size . . but it was tradable in my book.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,637
  • Jan 13, 2011 5:27pm Jan 13, 2011 5:27pm
Quoting Adilius07
Hello D, sorry don't get me wrong i just trying to learn. But look if you take higher tf into account, logically you should also take the higher than higher tf into account. If so you could se that on w2 this pa (4 candles before this weekly doji you have right now) will show a 100% bullish retracement bar (not quit buob) then if you again look higher you will see that this w2 engulfing is really a bullish PB on w4. Right? So you fade all this bullish pa at the semi-double bottom so to say?

That's why I hate to go into higher tf's.... What...

Well, I'm sorry for such an uncomfortable question but if anyone could advice how to deal with such a paradox will be greatly thankful

I think that either fading higher tf should be viewed ok, or I should just stay with one tf to avoid any confusion. But I just can't pretend the issue is not there at all...
  • #85,638
  • Jan 13, 2011 5:38pm Jan 13, 2011 5:38pm
Quoting Adilius07
Hello D, sorry don't get me wrong i just trying to learn. But look if you take higher tf into account, logically you should also take the higher than higher tf into account. If so you could se that on w2 this pa (4 candles before this weekly doji you have right now) will show a 100% bullish retracement bar (not quit buob) then if you again look higher you will see that this w2 engulfing is really a bullish PB on w4. Right? So you fade all this bullish pa at the semi-double bottom so to say?

That's why I hate to go into higher tf's.... What do...
Do you have chart Adilius to better illustrate your point?

Donkey was referring to the Highertime frame levels.
Indicators show the past. Price Action "Indicates" the future.
  • #85,639
  • Jan 13, 2011 5:42pm Jan 13, 2011 5:42pm
Quoting jarroo
Do you have chart Adilius to better illustrate your point?

Donkey was referring to the Highertime frame levels.
No, unfortunately I'm on my iPad now. But even chart may not show what i mean or may show - will depend how they begin to aggregate those candles.

So my question was not clear? That's my russian english sorry.

All I mean is that those 4 candles before current doji (on weekly chart) will equal to 4-week bullish PB! So why is it ok to short against this?
  • #85,640
  • Jan 13, 2011 5:46pm Jan 13, 2011 5:46pm
Quoting Adilius07
theoretically it could have happen, maybe... But still so hard to believe lol, i would go for Mike's aha moment that happened to that guy... I wonder if he is doing alright with his live account now... Is so I will arrange everything for the lighting to do the same with my pc, we get a lot of those thunderstorms here
Hey bro, yes all is going well. Got lots on so I'm not posting as much but always watching...
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