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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

  • #86,501
  • Jan 20, 2011 9:55am Jan 20, 2011 9:55am
Quoting Adilius07
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...
http://cdn.forexfactory.com/attachme...1&d=1295504506
FML
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  • #86,502
  • Jan 20, 2011 9:56am Jan 20, 2011 9:56am
Quoting mbqb11
Yes I will pass on this one personally. Maybe better for a quick hitter(if I had to take it).

Of course just my view

Mike
Hi Mike,

I was thinking of passing too due to the time and FTA below but the thing that made me think it twice was CAD getting strong across the board.

With your view now the pass is a confirmation

Thx for your answer buddy.

Os.
Trade Smart
  • #86,503
  • Jan 20, 2011 10:07am Jan 20, 2011 10:07am
Quoting ghous
Hey Aser,

Did you take this trade?
no, i was too shy
or otherwise: i saw more cons than pros...
meine augen sind die sterne
  • #86,504
  • Jan 20, 2011 10:16am Jan 20, 2011 10:16am
Quoting aserbfx
no, i was too shy
or otherwise: i saw more cons than pros...


Its great to see you pass on the trade setup. Just wanted to reinforce this Aser. We don't judge our trade setups based on what became of them. We judge them on the basis of what made them.

That was one pretty sloppy pin bar, and the fact that it worked out as well as it did tells nothing about how valid or invalid it was.

Small shape, poor close, headed against a wedge breakout...ample reasons to pass this straight up. And its great to see you do just that.

g.
Attached Image (click to enlarge)
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I believe . . .
  • #86,505
  • Jan 20, 2011 10:16am Jan 20, 2011 10:16am
Quoting Osman
USD/CAD nice PB coming off parity ..

Would like to hear your thoughts..


Thx.
Os.
i like this. FTA for me about 9940.
PATIENCE... DISCIPLINE
  • #86,506
  • Jan 20, 2011 10:17am Jan 20, 2011 10:17am
Quoting Adilius07
FML
that ll be those tiny bars again...
jon
PATIENCE... DISCIPLINE
  • #86,507
  • Jan 20, 2011 10:26am Jan 20, 2011 10:26am
Quoting Be Cool
WOW you took half at 1350 and still have a position going? This thing is sky diving, man !! Really cool
Hi Be Cool,

Thx for your words, I took half at 1352 to be exact .. as 1350 could act as support.

Let see how it goes.

Os.
Trade Smart
  • #86,508
  • Jan 20, 2011 10:37am Jan 20, 2011 10:37am
Quoting g_j_hook@yah
i like this. FTA for me about 9940.
Hi g_j,

I really liked the Bar and its location, but the time it is, the FTA below, we´ve got one also at 0.9960-65, the W formation and it seems our entry wont be hit on this 4hr bar.. a pass for me.

I was doubting as CAD was getting stronger across the board but Mike answer confirmed the pass for me.

Os.
Trade Smart
  • #86,509
  • Jan 20, 2011 11:02am Jan 20, 2011 11:02am
Quoting Osman
W formation on U/CAD ?
Quick question Osman, what does a W Formation normally indicate?

Thanks mate,

opt
  • #86,510
  • Edited 11:27am Jan 20, 2011 11:12am | Edited 11:27am
Quoting Osman
Hi g_j,

I really liked the Bar and its location, but the time it is, the FTA below, we´ve got one also at 0.9960-65, the W formation and it seems our entry wont be hit on this 4hr bar.. a pass for me.

I was doubting as CAD was getting stronger across the board but Mike answer confirmed the pass for me.

Os.
hi Osman, thanx for pointing out the .9960 level i had over looked that in my haste. my biggest worry is also the time of day, i have normally finished for the day by now.
but i love the location...lets face it it doesnt get much better. i like the divergence also. i think i will leave my sell stop on this one and see if we get a decent break ??just hitting my entry as i write so lets see wot happens??
thanx for your input.

jon

EDIT: if this 4h bar takes off we will get a lovely daily pin bar...??
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4hour2.gif Size: 45 KB
Click to Enlarge Name: 4hour.gif Size: 47 KB
PATIENCE... DISCIPLINE
  • #86,511
  • Jan 20, 2011 11:14am Jan 20, 2011 11:14am
Quoting ghous


Its great to see you pass on the trade setup. Just wanted to reinforce this Aser. We don't judge our trade setups based on what became of them. We judge them on the basis of what made them.

That was one pretty sloppy pin bar, and the fact that it worked out as well as it did tells nothing about how valid or invalid it was.

Small shape, poor close, headed against a wedge breakout...ample reasons to pass this straight up. And its great to see you do just that.

g.
Great post Ghous!! That line should be on post one!!

jon
PATIENCE... DISCIPLINE
  • #86,512
  • Jan 20, 2011 11:21am Jan 20, 2011 11:21am
Quoting optimuss
Quick question Osman, what does a W Formation normally indicate?

Thanks mate,

opt
hi Optimuss, it is usually a reversal sign.
i personally am not convinced that in this case it is legit though, although i could be wrong. not an expert on this. Although i also see plenty of signs of a reversal/retrace

jon

p.s. you could google it for more info.theres loads out there
PATIENCE... DISCIPLINE
  • #86,513
  • Jan 20, 2011 11:31am Jan 20, 2011 11:31am
So.. if this one close like this, could it be a continuation BUOB now?
Sort of breakout-continuation setup?
Attached Image (click to enlarge)
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  • #86,514
  • Jan 20, 2011 11:33am Jan 20, 2011 11:33am
Quoting Osman
Hi g_j,

I really liked the Bar and its location, but the time it is, the FTA below, we´ve got one also at 0.9960-65, the W formation and it seems our entry wont be hit on this 4hr bar.. a pass for me.

I was doubting as CAD was getting stronger across the board but Mike answer confirmed the pass for me.

Os.
first stop/pause your .9960 level ...to the pip! lol thanx again. taken appropriate action.

jon
PATIENCE... DISCIPLINE
  • #86,515
  • Jan 20, 2011 11:34am Jan 20, 2011 11:34am
Quoting g_j_hook@yah
that ll be those tiny bars again...
jon
Yes, agree now. I should be more careful with PB's in general.. size matters. BUOBS are easier in this sense to me, as the size is almost always automatically ok....
  • #86,516
  • Jan 20, 2011 11:36am Jan 20, 2011 11:36am
Quoting ghous
Any news on Aceforex guys?!

That guy came in with a bang and vanished in thin air.

Looking at Osman's Gold 4H trade strongly reminds me of his sweet "Areas of Interest"

g.
Yes his posts were very interesting to read.

Maybe he made some million of dollars and he has not to trade anymore and can live his life
  • #86,517
  • Jan 20, 2011 11:40am Jan 20, 2011 11:40am
Quoting Adilius07
Yes, agree now. I should be more careful with PB's in general.. size matters. BUOBS are easier in this sense to me, as the size is almost always automatically ok....
not sure i agree Adi, i personally think the BEOBs/BUOBs need to have a strong shape and close also. Just as important as a pins shape/size.

just my view.

jon
PATIENCE... DISCIPLINE
  • #86,518
  • Jan 20, 2011 11:44am Jan 20, 2011 11:44am
Quoting g_j_hook@yah
not sure i agree Adi, i personally think the BEOBs/BUOBs need to have a strong shape and close also. Just as important as a pins shape/size.

just my view.

jon
Yes I agree that shape and close is very important for BUOBs.
See these criteria is very easily identified objectively, where SIZE is something we have to identify subjectively... i.e it seemed OK to me but you thought it was not big enough... see.

I was even surprised when Pinbar made a comment that he didn't like the size. It really looked very nice to me...

Does this make any sense?
I think I just need to take those that REALLY STICK OUT/JUMP OUT.
So there is absolutely no doubt that size could be questionable...

Like this one maybe, or bigger, even bigger!!!
Attached Image
  • #86,519
  • Jan 20, 2011 11:53am Jan 20, 2011 11:53am
any comment about this two h4 (ergo one h8) pinbar(s)?
price touched and crossed the 1.35.
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #86,520
  • Jan 20, 2011 11:54am Jan 20, 2011 11:54am
Quoting aserbfx
any comment about this two h4 (ergo one h8) pinbar(s)?
price touched and crossed the 1.35.
small size...
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