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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

  • #87,341
  • Jan 30, 2011 2:20am Jan 30, 2011 2:20am
Quoting supremeChaos
Hello Steve,
it depends on the market situation (trending or ranging).
a BEOB closing inside a consolidation does not always guarantee price will follow through & move smoothly.
even in trending environments, price still gets rejected, example, on the range bottom (in your chart's case). afterwards, sometimes price follows through, sometimes not.
the only way to know if price will follow through, is by having a position on (guesstimating the direction, momentum/trend correctly), & letting price move further(if u feel/believe trend will persist).
the...

Yes, and answered it very well.
I will be sticking to using the area between them as PPZ and looking for setups moving away from them, rather than into them.

I was just interested in this point while I was looking at these two boxes.

Many thanks SC.
  • #87,342
  • Jan 30, 2011 2:22am Jan 30, 2011 2:22am
i first spotted this big bearish englufing bar on the weekly.
then i switched to the daily and saw a quite unknown chart pattern called "eve & adam" (see bulkowski encyclopedia for reference). it is a double
top-formation with one round and wide and a second narrow and sharp top.
this gives more strengh to the setup.
fta 115 usd.
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meine augen sind die sterne
  • #87,343
  • Jan 30, 2011 2:32am Jan 30, 2011 2:32am
Quoting aserbfx
i first spotted this big bearish englufing bar on the weekly.
then i switched to the daily and saw a quite unknown chart pattern called "eve & adam" (see bulkowski encyclopedia for reference). it is a double
top-formation with one round and wide and a second narrow and sharp top.
this gives more strengh to the setup.
fta 115 usd.
Looks nice, the 2 top with actually a LH - I like those even more.
But FTA is I think closer - 126 zone, no?
  • #87,344
  • Jan 30, 2011 2:34am Jan 30, 2011 2:34am
Quoting aserbfx
i first spotted this big bearish engulfing bar on the weekly.
then i switched to the daily and saw a quite unknown chart pattern called "eve & adam" (see bulkowski encyclopedia for reference)..
yes, it's a relatively unknown pattern, perhaps to many people.

FTA looks good, but 123 - 128 might stall the move towards it.
keep us updated, Sir.


edit: nice, quick one, Adilius!
  • #87,345
  • Jan 30, 2011 3:11am Jan 30, 2011 3:11am
Quoting supremeChaos
yes, it's a relatively unknown pattern, perhaps to many people.

FTA looks good, but 123 - 128 might stall the move towards it.
keep us updated, Sir.


edit: nice, quick one, Adilius!
Ohh EURGBP daily BEOB would be Eve and Adam on H4 ?
Nice!
  • #87,346
  • Jan 30, 2011 3:45am Jan 30, 2011 3:45am
Quoting Pinbar
Question for Mike, Jarroo, Ghous, SC.
Just practicing my boxing skills and have a question.

Let's assume this BEOB is not engulfing the Sunday bar but maybe 2 regular daily bars. I cut off the tail of the PB for the purpose of using this as an example.

Can we use consolidation boxes to our advantage like this.

I mean, if we see a PA setup close inside one of these boxes of consolidation and we see the next bar get rejected by the top of it, would you take a setup trading into one of these boxes as in this example.

I am leaning towards the possibility...
Pb or anyone,

I know its a dumb question but I've been meaning to ask for some time and I could probably work it out but what does PBT CB actually stand for.
  • #87,347
  • Edited 4:06am Jan 30, 2011 3:53am | Edited 4:06am
Quoting stewrigh
Pb or anyone,
.. what does PBT CB actually stand for.
if i may Sir,
Price Breaks Through & Closes Below (or Above, for PBTCA; i think it denotes price breaking thru & closing below/above an S/R or PPZ)

it's not dumb, just something u are temporarily unaware of.

Quoting Adilius07
Ohh EURGBP daily BEOB would be Eve and Adam on H4 ?
Nice!
imho, yes u could say it is.
i think the 'normal' pattern is eve and adam (or adam & eve, eve&eve, etc) are parallel or aligned, instead of looking like a higher swing high/lower swing high(in this case, where the pattern is at/near the top).
but personally, i would consider this (referring to the eurgbp H4 current chart; slightly similar to aserbfx's eve & adam in his above post) as a variation. (i dont expect them to be perfectly horizontally aligned)
  • #87,348
  • Jan 30, 2011 4:04am Jan 30, 2011 4:04am
Quoting supremeChaos
imho, yes u could say it is.
i think the 'normal' pattern is eve and adam (or adam & eve, eve&eve, etc) are parallel or aligned, instead of looking like a higher swing high/lower swing high(in this case, where the pattern is at/near the top).
but personally, i would consider this (referring to the eurgbp H4 current chart; slightly similar to aserbfx's eve & adam in his above post) as a variation. (i dont expect them to be perfectly horizontally aligned)
Thanks SC. Interesting how I learn new things every day in this thread! Really cool. Thank you
  • #87,349
  • Jan 30, 2011 4:05am Jan 30, 2011 4:05am
Quoting supremeChaos
if i may Sir,
Price Breaks Through & Closes Below (or Above, for PBTCA; i think 'breaks thru' denotes price breaking thru an S/R or PPZ)

it's not dumb, just something u are temporarily unaware of.


imho, yes u could say it is.
i think the 'normal' pattern is eve and adam (or adam & eve, eve&eve, etc) are parallel or aligned, instead of looking like a higher swing high/lower swing high(in this case, where the pattern is at/near the top).
but personally, i would consider this (referring to the eurgbp...
Thanks SC
  • #87,350
  • Jan 30, 2011 4:14am Jan 30, 2011 4:14am
Quoting AvanishDemo
Hey Jarroo..
I think it will fall down ATLEAST till 1.27 as there has been a breakout from 1.27..
wats ur say?

Hey AvanishD,

It has the potential to reach the 1.2700 but not until Price can get a strong Close below the 1.2800. The 1.2800 PPZ level is acting as strong Support right now.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,351
  • Jan 30, 2011 4:15am Jan 30, 2011 4:15am
Quoting Donkey
J16 likes pit bull pin bars...jarroo likes grizzly bearish outside bars....when the grizzlies come out the bulls run for cover.

lol . . .I would mind a couple of those each month.
Indicators show the past. Price Action "Indicates" the future.
  • #87,352
  • Jan 30, 2011 4:16am Jan 30, 2011 4:16am
Quoting Adilius07
Thanks SC...
no, thanks goes to aserbfx for mentioning it.

these are just patterns we see(/will see) often. only difference is others saw them first &/or gave a name for them. we can call these patterns a different name, if we want to
  • #87,353
  • Jan 30, 2011 4:18am Jan 30, 2011 4:18am
Quoting supremeChaos
if i may Sir,
Price Breaks Through & Closes Below (or Above, for PBTCA; i think it denotes price breaking thru & closing below/above an S/R or PPZ)

it's not dumb, just something u are temporarily unaware of.
Yes that's right, sChoas.
Indicators show the past. Price Action "Indicates" the future.
  • #87,354
  • Jan 30, 2011 4:22am Jan 30, 2011 4:22am
US potential collapse:
i'd like to get comments from traders here, specially those in the US.
are u concerned? etc..
what do u think will happen?
what do u/we need to do?
Many thanks!
Inserted Video

Inserted Video
  • #87,355
  • Edited 5:09am Jan 30, 2011 4:38am | Edited 5:09am
For you gold lovers out there, any takers?

Pros:
2 Day PB - size good.
At swing Low
Off 1322.0 PPZ level
On weekly 1322.0 is support
On 38.2 Fib ret
Rejected by 150 ema
Cons:
Trading into large consolidation area
Near FTA 1351.0
Weekly bar closed below 1351.0

Wonder if a pending order above 1351.0 will do? First target 1363.0
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  • #87,356
  • Jan 30, 2011 5:08am Jan 30, 2011 5:08am
Quoting AvanishDemo
EURAUD:
A Thick BEOB...
150 EMA,
61.8 fib on Daily n Weekly Chart..


GBPJPY:
A Nice BEOB on Weekly Chart

EURJPY:A nice "stand out" Pinbar on Weekly Chart getting rejected at 114,follows a Trend Line

Ghous,u liking this?
Hey AvanishD.

I seen the others that have comment of this setup. I agree with Ghous that this setup has the potential to run down to the 1.3550. But I view the 1.3650 as its 1st target or FTA . The 1.3650 is a Weekly PPZ level acting as Support . . .

Quoting jarroo
Looks like I can remove the "?" from "Sup?" . .check the lower time frames if there were any bullish PA opportunities at the 1.3650 . .
This setup is a great example of when to apply James16's "This is Critical" .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,357
  • Jan 30, 2011 6:02am Jan 30, 2011 6:02am
Quoting Be Cool
For you gold lovers out there, any takers?

Pros:
2 Day PB - size good.
At swing Low
Off 1322.0 PPZ level
On weekly 1322.0 is support
On 38.2 Fib ret
Rejected by 150 ema
Cons:
Trading into large consolidation area
Near FTA 1351.0
Weekly bar closed below 1351.0

Wonder if a pending order above 1351.0 will do? First target 1363.0

Trading right into Weekly Resistance, the 1350.0. So your 1351.0 buy order may work out. Although I would like to see a Daily close above the 1350.0.

Since the 1350.0 is still acting as a Resistance level, bearish PA at the 1350.0 would be what I would be looking for.

Just some thoughts.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #87,358
  • Jan 30, 2011 6:03am Jan 30, 2011 6:03am
Anybody knows why my two feeds look very different?
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  • #87,359
  • Jan 30, 2011 6:13am Jan 30, 2011 6:13am
Quoting Pinbar
Hi, Yes, some interesting names in the thread.

Got to start living up to my name, that is the problem in choosing such an illustrious one!

I was asked the same question earlier and decided a quick video may explain why, I am not so keen on this PB. Remember, I am a also newbie and this is only MHO.

Still, I remember when I would also have jumped on a PB like this one.
Hope this helps clarify why, I am not so keen on it.

http://www.youtube.com/watch?v=X4P2tWwadbc


EDIT: Also, take a look at that Daily PPZ on the weekly....
Nice video Pb . . . I like how you pointed out the BEOB closing below the PPZ .. excellent. and Yes, its much better than that PB....


I believe you meant to say "Price Breaks Through & Closes Below" on your chart.
Indicators show the past. Price Action "Indicates" the future.
  • #87,360
  • Jan 30, 2011 6:40am Jan 30, 2011 6:40am
Quoting Be Cool
Anybody knows why my two feeds look very different?
are both live/demo feeds, or 1 demo & 1 live?

interesting chart, im still staring at it now.
so far, all i see is that IBFX's GBPAUD, has its name, on the top left corner, says 'GBPAUDm', which i think means 'mini'. this maybe 1 clue.
also, the price range is different. IBFX, from top to bottom is 2.100+ to 1.34ish, while FXPro's is 3.00ish to 1.50ish

hmm.. is it possible 1 of the two charts is not a true gbpaud??
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