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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

  • #85,981
  • Jan 16, 2011 5:02pm Jan 16, 2011 5:02pm
Thanks for the post about US public holiday tomorrow as I was unaware of it!! (in UK). Probably will give trading a miss tomorrow as the markets are quite spikey on public holidays so will catch up with y'all on Tuesday.

Best wishes and good trading to all on this thread,

Cheers

kal
  • #85,982
  • Jan 16, 2011 6:24pm Jan 16, 2011 6:24pm
Hi Mike
Is this a DBLHC on weekly EURJPY? The low differ by 11 pips. How many pips difference still constitute as a DBLHC/BUOB? Thanks
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  • #85,983
  • Jan 16, 2011 6:25pm Jan 16, 2011 6:25pm
Quoting Be Cool
Hi Mike
Is this a DBLHC on weekly EURJPY? The low differ by 11 pips. How many pips difference still constitute as a DBLHC/BUOB? Thanks
Hey BC

I think it is fine to look at that as a DBLHC, but I would go with a BUOB since it does have a lower low. For me the more accurate the matching lows the more accurate to be called a DBLHC/DBHLC

Best
Mike
  • #85,984
  • Jan 16, 2011 6:32pm Jan 16, 2011 6:32pm
Can't make my mind up about EUR/CAD...Any thoughts folks?

Weekly BUEOB, largest bar in the current down trend.
Daily PB but the close is outside the eye of the previous bar.

Hmmmm, perhaps a nice pullback to the 50 area with some definitive bullish PA would work out.
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  • #85,985
  • Jan 16, 2011 6:51pm Jan 16, 2011 6:51pm
this is a demo trade (1 nano lot on real account) I took, It's not a live position because I wasn't quite "feeling it"... Not A+

figured I'd post here and we can have a chat about it if you guys want to. Looks like a classic box-breakout, and re-test of the 85.00. Weekly bullish Pin formed.

My stop seems nicely placed in regards to this being a "momentum" setup, I don't want to wait for price to come all the way down to the bottom of the bar.

My reason for not taking it as a real position, is how chopped all the action is on this pair lately, not a lot of solid trending going on here from highs to lows, price may very well continue south beyond the low of last weeks bar.

feel free to ask, inquire, discuss.





check mark represents FTA, stop will go to B/E, the "x" represents final target.
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Many choose unhappiness over uncertainty.
  • #85,986
  • Jan 16, 2011 6:52pm Jan 16, 2011 6:52pm
Do you read your charts from Left to Right or Right to left?
Interesting article http://www.iitm.com/Weekly_update/We...02.htm#Feature Article:
Anything can happen - You never know
  • #85,987
  • Jan 16, 2011 7:12pm Jan 16, 2011 7:12pm
Quoting Dan Gilbert
this is a demo trade (1 nano lot on real account) I took, It's not a live position because I wasn't quite "feeling it"... Not A+

figured I'd post here and we can have a chat about it if you guys want to....
Dan, could you explain a little more about the "Not quite feeling it".

The 86.70 area looks a bit naughty but, I can see the nice area of support with that consolidation box, supporting your PB.

Also, could you explain why you think this is going to work out against the previous BEOB that seems much larger in comparison to the PB?

EDIT: I mean Jarroo has taught us that a retrace to the previous bar low of a BEOB is common and that is just about where we are right now, is it not.




Thanks in advance
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  • #85,988
  • Jan 16, 2011 7:22pm Jan 16, 2011 7:22pm
Quoting Dan Gilbert
this is a demo trade (1 nano lot on real account) I took, It's not a live position because I wasn't quite "feeling it"... Not A+

figured I'd post here and we can have a chat about it if you guys want to....
Hey Dan, there was some PA on the daily chart that I was considering pretty bullish so I don't mind this trade so much. There is definitely some ppz above that price is trying to fight through coming off the large BEOB, and the market is quite choppy as you noted. Just my thoughts and hopefully i am adding to and not subtracting from the discussion
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Price is beautiful. A repetitive method is a competitive method.
  • #85,989
  • Jan 16, 2011 7:34pm Jan 16, 2011 7:34pm
Quoting Dan Gilbert
this is a demo trade (1 nano lot on real account) I took, It's not a live position because I wasn't quite "feeling it"... Not A+
figured I'd post here and we can have a chat about it...
My stop seems nicely placed in regards to this being a "momentum" setup, I don't want to wait for price to come all the way down to the bottom of the bar......
daytrading the weekly again?

1 way or another, i believe we are all bound to trade such choppy environments (& still come out ok/victorious).

stop is around 85.30area? looks reasonable, given your expectation/reason of 'being a momentum setup'.
though, i wouldnt be surprised to see price revisit the area below your stop. based on current PA, u might have entered near a pending (upside) breakout.
very near-term, i would like 85.70 - 86 to support price & serve as 'rocket launching pad'.
of course, Dec.2010 highs is the key to the upside...

i think u covered all bases so there is little point in discussing this.
  • #85,990
  • Jan 16, 2011 8:35pm Jan 16, 2011 8:35pm
Quoting Pinbar
Dan, could you explain a little more about the "Not quite feeling it".

The 86.70 area looks a bit naughty but, I can see the nice area of support with that consolidation box, supporting your PB.

Also, could you explain why you think this is going to work out against the previous BEOB that seems much larger in comparison to the PB?

EDIT: I mean Jarroo has taught us that a retrace to the previous bar low of a BEOB is common and that is just about where we are right now, is it not.




Thanks in advance
actually, the BEOB you noted is a good reason to not live trade this setup. the reason I would anticipate it to work against the BEOB, though, is because the bullish pin is coming off a VBRN (previous resistance), where the high of your BEOB is not really located directly on anything...

I'm unaware with what you are saying in regards to Jarroo's retrace theory...?


Quoting nwo-trader
Hey Dan, there was some PA on the daily chart that I was considering pretty bullish so I don't mind this trade so much. There is definitely some ppz above that price is trying to fight through coming off the large BEOB, and the market is quite choppy as you noted. Just my thoughts and hopefully i am adding to and not subtracting from the discussion http://cdn.forexfactory.com/images/s.../yim/happy.gif
no, you basically are seeing what I'm seeing, chop, and potentially no momentum in this setup

Quoting supremeChaos
daytrading the weekly again?http://cdn.forexfactory.com/images/s.../yim/happy.gif

1 way or another, i believe we are all bound to trade such choppy environments (& still come out ok/victorious).

stop is around 85.30area? looks reasonable, given your expectation/reason of 'being a momentum setup'.
though, i wouldnt be surprised to see price revisit the area below your...

Stop is @ 85.40. the reason I put the stop there, is I don't want to sit around and wait for the full loss, if price doesn't want to go quick, I don't want to go DOWN with it . sorry for covering all bases, lol.... just wanted some entertainment on my otherwise uneventful sunday night
Many choose unhappiness over uncertainty.
  • #85,991
  • Jan 16, 2011 9:11pm Jan 16, 2011 9:11pm
Quoting Dan Gilbert
actually, the BEOB you noted is a good reason to not live trade this setup. the reason I would anticipate it to work against the BEOB, though, is because the bullish pin is coming off a VBRN (previous resistance), where the high of your BEOB is not really located directly on anything...

I'm unaware with what you are saying in regards to Jarroo's retrace theory...?




no, you basically are seeing what I'm seeing,...

Thanks for your input Dan...Yes, I discovered that the BEOB does not really have its back to the wall where, the PB does with the BRN.

I was refering to how, very often a break of a BEOB will see a retracement to the low of the previous bar before price shoots off in a downward fashion.

Thanks again Dan
  • #85,992
  • Jan 16, 2011 9:40pm Jan 16, 2011 9:40pm
What do you guys think of this weekly BUOB on the EURJPY pair.

Good bounce off the Monthly PPZ at 107 with a good close above 110.00. I would expect a nice retracement to the 110 to look for a lower TF entry.

Con is that it's not at the extreme low from August. Not a ton of room for movement.

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  • #85,993
  • Jan 16, 2011 9:50pm Jan 16, 2011 9:50pm
Here is an interesting weekly IB on Oil that I will be watching.
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Price is beautiful. A repetitive method is a competitive method.
  • #85,994
  • Jan 16, 2011 10:14pm Jan 16, 2011 10:14pm
Quoting Pinbar
Dan, could you explain a little more about the "Not quite feeling it".

The 86.70 area looks a bit naughty but, I can see the nice area of support with that consolidation box, supporting your PB.

Also, could you explain why you think this is going to work out against the previous BEOB that seems much larger in comparison to the PB?

EDIT: I mean Jarroo has taught us that a retrace to the previous bar low of a BEOB is common and that is just about where we are right now, is it not.




Thanks in advance
Had this one on my watch list too but don't like all the noise to the left like you indicated with your PPZ.
  • #85,995
  • Jan 16, 2011 10:26pm Jan 16, 2011 10:26pm
Quoting nwo-trader
Here is an interesting weekly IB on Oil that I will be watching.
I like this chart a bit better. Goodnight all
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Price is beautiful. A repetitive method is a competitive method.
  • #85,996
  • Jan 16, 2011 10:38pm Jan 16, 2011 10:38pm
Has anyone seen this as a possiblity?
Close right on the VBRN.
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  • #85,997
  • Jan 16, 2011 10:44pm Jan 16, 2011 10:44pm
Same pair but 4H. Is this valid PA? PB, IPB, IB
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  • #85,998
  • Jan 16, 2011 10:48pm Jan 16, 2011 10:48pm
Quoting Pinbar
Did you delete the BIRD, that got you into trouble, the other day yet.
I see you didn't.
http://www.forexfactory.com/showpost...ostcount=85092

Jarroo asked you to delete it for the sake of this thread!!!

We don't want to give the impression that this board is full of 12 year olds now, do we?


Also, I don't see any good trades as you didn't post any screen shots.

If you are going to post about good trades, please post a chart with the trade so we can all see what you are talking about.
Quoting torontobboy2


no option to edit it anymore. well i've emailed FF support if they could delete it.


Everythings cool . .

I don't think toronto's true intent was to offend anyone or express his feeling towards this thread, maybe just trying to be "clever".


toronto: As you read through this thread, you'll see there is a different demeanor here that you won't find in the other threads . .I'm not saying the we don't have our moments . .we do . . .but its usually in jest and in the right content.


No hard feelings here, friend.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #85,999
  • Jan 16, 2011 11:01pm Jan 16, 2011 11:01pm
Spookie that is not a real pb. It is an errant spike. I use IBFX also and went around with them on Friday. It actually did it twice I watched it, there one sec, gone the next then did it again.
  • #86,000
  • Jan 16, 2011 11:12pm Jan 16, 2011 11:12pm
Quoting Srath
Spookie that is not a real pb. It is an errant spike. I use IBFX also and went around with them on Friday. It actually did it twice I watched it, there one sec, gone the next then did it again.
I didn't notice it on any of the lower TFs. Didn't think it was valid, just interesting to look at. Thanks for your input. That would have sucked to have a long above the VBRN and see a loss in a matter of seconds
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