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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

  • #86,441
  • Jan 20, 2011 7:04am Jan 20, 2011 7:04am
Well, I'm voting for a good close above parity.
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  • #86,442
  • Jan 20, 2011 7:16am Jan 20, 2011 7:16am
Quoting jarroo
I have found that the first time back . .after the establishment of the Daily breaking through and closing above strong Resistance thus giving us a potential strong Support level, will more often than not give a good bounce. Good enough to cover your risk, that is.

Sometimes the bounce keeps going and never looks back and sometimes it stops you out at break even . .lol This can be seen on the Daily or 4hour or Hourly.
Hi man,

This is golden. Thanks a lot.
Cannot wait to backtest this.

Regards,
C80
  • #86,443
  • Jan 20, 2011 7:20am Jan 20, 2011 7:20am
Very nice 1H-BUOB, where the engulfing bar has no wicks at all, a so called Marabozu bar, you don't see them that often.
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Pipcrawler
  • #86,444
  • Jan 20, 2011 7:30am Jan 20, 2011 7:30am
Quoting jarroo
Nice . .I like how you have your targets(s) and you actually do something when they're hit . . you would be surprised how many don't . . something we all can learn from your posts, xmz . . .
Thanx Jim, but it all has to do with discipline and applying what guys like you teach us newbies day in and day out how to manage our trades in a sensible and logical fashion. I'am very greatfull for that information you've given us, but it's all up to us what we are going to do with this information ................

May the force be with you
Pipcrawler
  • #86,445
  • Jan 20, 2011 7:37am Jan 20, 2011 7:37am
Quoting xmzhang
Very nice 1H-BUOB, where the engulfing bar has no wicks at all, a so called Marabozu bar, you don't see them that often.

I think that is actually a DBLHC.

The only reason I say this is, the rules of the close are different than a BUEOB.

The DBLHC has to close outside the high of the previous bar while, the BUEOB does not have to close outside the previous bar.

Nice trade by the way and I must say, your English is really improving greatly. Not that it was bad before, just how more accurate it has become.
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  • #86,446
  • Jan 20, 2011 7:43am Jan 20, 2011 7:43am
IPb and Inside Bar adds me to confusion...

It looks like an IPb,also formed at Swing High..

Pls clear my doubt!
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  • #86,447
  • Jan 20, 2011 8:06am Jan 20, 2011 8:06am
Quoting Pinbar
I think that is actually a DBLHC.

The only reason I say this is, the rules of the close are different than a BUEOB.

The DBLHC has to close outside the high of the previous bar while, the BUEOB does not have to close outside the previous bar.

Nice trade by the way and I must say, your English is really improving greatly. Not that it was bad before, just how more accurate it has become.
In that case a DBLHC is also a BUOB

BTW I didn't traded that bar, I only posted it for that Marabozu bar as a illustration
Pipcrawler
  • #86,448
  • Jan 20, 2011 8:10am Jan 20, 2011 8:10am
Yeah, someone posted this trade a few pages back.
Really how beautiful this is!
Daily setups happen, and happen often, all we have to do is catch them...
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  • #86,449
  • Jan 20, 2011 8:12am Jan 20, 2011 8:12am
Quoting xmzhang
In that case a DBLHC is also a BUOB

BTW I didn't traded that bar, I only posted it for that Marabozu bar as a illustration
Hey Zhang

The difference is a BUOB has a lower low then the previous bar where a DBLHC has matching lows. Again both are telling the same general reversal, but just in a different way.

Nice trading bud

Mike
  • #86,450
  • Jan 20, 2011 8:18am Jan 20, 2011 8:18am
Quoting Adilius07
Yeah, someone posted this trade a few pages back.
Really how beautiful this is!
Daily setups happen, and happen often, all we have to do is catch them...
Yes, it would've been even more beautifull if someone got in @ that nice 4H-BEOB ...............
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Pipcrawler
  • #86,451
  • Jan 20, 2011 8:25am Jan 20, 2011 8:25am
Quoting mbqb11
Hey Zhang

The difference is a BUOB has a lower low then the previous bar where a DBLHC has matching lows. Again both are telling the same general reversal, but just in a different way.

Nice trading bud

Mike
Thanx Mike, for me the most important aspect about those bars is the close of the last bar relative to the previous bar(s) high(s)/low(s), it tells me a lot about the overall strenght of that barcombination. But all in all I use the same strategy to trade those bars, thanx again.
Pipcrawler
  • #86,452
  • Jan 20, 2011 8:27am Jan 20, 2011 8:27am
Quoting xmzhang
Thanx Mike, for me the most important aspect about those bars is the close of the last bar relative to the previous bar(s) high(s)/low(s), it tells me a lot about the overall strenght of that barcombination. But all in all I use the same strategy to trade those bars, thanx again.
That's why you do so well
  • #86,453
  • Jan 20, 2011 8:34am Jan 20, 2011 8:34am
Quoting xmzhang
Yes, it would've been even more beautifull if someone got in @ that nice 4H-BEOB ...............
yeah thats a nice looking setup. i didnt get it on either alpari or fxpro and i missed the daily bar as fxpro closes 2h earlier than alpari(which i was using at the time.) shame.

jon
PATIENCE... DISCIPLINE
  • #86,454
  • Jan 20, 2011 8:39am Jan 20, 2011 8:39am
Quoting xmzhang
Thanx Mike, for me the most important aspect about those bars is the close of the last bar relative to the previous bar(s) high(s)/low(s), it tells me a lot about the overall strenght of that barcombination. But all in all I use the same strategy to trade those bars, thanx again.

I don't think the close of a BUOB is as important as a DBLHC
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  • #86,455
  • Jan 20, 2011 8:43am Jan 20, 2011 8:43am
Quoting Pinbar
I don't think the close of a BUOB is as important as a DBLHC
Hey Pin

Yes those are the proper definitions by book. But the closes are always important. What zhang means is in relation to everything that is going on, not just the previous bar. It's like a pinbar(and the gbp/usd we talked about). The open and close only need to be within the prior bar, but just being a pinbar doesn't make it something worth trading.

I believe this is all zhang is really trying to say. I agree too

take care
Mike
  • #86,456
  • Jan 20, 2011 8:44am Jan 20, 2011 8:44am
Quoting Pinbar
I don't think the close of a BUOB is as important as a DBLHC
also forgot to mention your illustrations are perfect for those who can't figure out the definitions and I bet others are saving them so they can study so thanks


Mike
  • #86,457
  • Jan 20, 2011 8:47am Jan 20, 2011 8:47am
Quoting mbqb11
That's why you do so well
Thanx, it means a lot to me when you say that Mike. Since I joined this thread not only my trading skills have improved vastly, but more important I now have the confidence to enter a trade, to pull the trigger without hesitation and fear. It's not easy to pull the trigger when there's real money at stake and you don't have 200% confidence in your stategy. It's a beautifull feeling when you pull the trigger and see that your plan works out accordingly, you must know about what feeling I'am talking about ............ Raczekfx has put this nicely in one sentence: It's not easy, but when the bulb finally lights up, it will be yours forever.
Pipcrawler
  • #86,458
  • Edited 8:53am Jan 20, 2011 8:52am | Edited 8:53am
Hey guys,

Would anyone like to comment on this setup?
A nice looking PB (assuming it is one in 10hrs time when the day finally closes) off 82 but my concern is that it is going into the RN of 81.
Would anyone pass on this?
Thanks.
CY
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  • #86,459
  • Jan 20, 2011 8:53am Jan 20, 2011 8:53am
Quoting joelcf
Not necessarily. Positive US news often means a weaker USD. It really depends on the current risk environment. In many cases, good US news can lead to money managers chasing yields, which means USD outflows.

That's the thing about fundamentals, economics and women; its very easy to misinterpret the signals they put out, the signals are often mixed and ambiguous to begin with.... and every so often, they just go haywire, ordinary rules of logic go out the window and nothing makes sense at all

Ahhhhh...this explains the slap I got a few days back!
  • #86,460
  • Jan 20, 2011 8:54am Jan 20, 2011 8:54am
Quoting Pinbar
I don't think the close of a BUOB is as important as a DBLHC
It still is a crucial factor in drawing that thick bold line between a BUOB, and a superb BUOB

g.
I believe . . .
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