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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

  • #87,901
  • Feb 3, 2011 3:30pm Feb 3, 2011 3:30pm
Quoting Pinbar
This is the postmortem on the EUR/GBP pinbar.
This was a demo trade as it was not even in my mind an A+ setup at the time.

I feel it is best to learn something from failed trades, rather than ignoring them and I am interested in hearing anyone's opinions.

http://www.youtube.com/watch?v=A4RJtJjPH7U
Another good one PB ..

I don't want to take away from your analysis from how you found that PPZ level acting as Resistance right in front of that PB . .it was very good and keep doing it . .

But soon you'll find a quick analysis is all you'll need . . . a relatively small PB, not at a swing point , with small Space and running into traffic . .and easy pass. . .next.

Again . I do not want to take away from your analysis of finding good PPZ levels and seeing how they are acting as . .either Support or Resistance.

Keep doing it . .brother. . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #87,902
  • Feb 3, 2011 3:39pm Feb 3, 2011 3:39pm
Sorry,I forgot to add the trend line for more confluence.
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Nothing personal,just business
  • #87,903
  • Feb 3, 2011 3:39pm Feb 3, 2011 3:39pm
Quoting jarroo
Another good one PB ..

I don't want to take away from your analysis from how you found that PPZ level acting as Resistance right in front of that PB . .it was very good and keep doing it . .

But soon you'll find a quick analysis is all you'll need . . . a relatively small PB, not at a swing point , with small Space and running into traffic . .and easy pass. . .next.

Again . I do not want to take away from your analysis of finding good PPZ levels and seeing how they are acting as . .either Support or Resistance.

Keep doing...
Yeah what swayed me away from taking that trade is the small bearish close of that angle, just not enough space. If you have a tight TP on the next candle, you could've gotten out with a couple of pips safely.
  • #87,904
  • Feb 3, 2011 3:52pm Feb 3, 2011 3:52pm
Quoting DBallerz
Yeah what swayed me away from taking that trade is the small bearish close of that angle, just not enough space. If you have a tight TP on the next candle, you could've gotten out with a couple of pips safely.

I have found with these poor locational PB or outside bars is that if they are running into Resistance (in this case) or a Support level they will usually retrace . . .

. . meaning, let's say that this PB on the Eur/Gbp did break nicely . .a retrace to the break and continuation in your direction is likely. . .no way a full bar loss, of course.
Indicators show the past. Price Action "Indicates" the future.
  • #87,905
  • Feb 3, 2011 3:56pm Feb 3, 2011 3:56pm
Quoting jarroo
I have found with these poor locational PB or outside bars is that if they are running into Resistance (in this case) or a Support level they will usually retrace . . .

. . meaning, let's say that this PB on the Eur/Gbp did break nicely . .a retrace to the break and continuation in your direction is likely. . .no way a full bar loss, of course.
jarroo where do ya live? I'd love to take you for a night on the town. This James16 stuff is really growing on me thanks to you and mike and others!


Now to the good stuff...we have a nice BEOB that hight a RN of 1.62. I'm triggering my sell at the low of the BEOB and hoping to carries my to the 1.6 BRN. Thoughts?
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  • #87,906
  • Feb 3, 2011 4:12pm Feb 3, 2011 4:12pm
Quoting DBallerz
Now to the good stuff...we have a nice BEOB that hight a RN of 1.62. I'm triggering my sell at the low of the BEOB and hoping to carries my to the 1.6 BRN. Thoughts?

I like it..was looking but didnt post
  • #87,907
  • Feb 3, 2011 4:22pm Feb 3, 2011 4:22pm
Quoting DBallerz
jarroo where do ya live? I'd love to take you for a night on the town. This James16 stuff is really growing on me thanks to you and mike and others!


Now to the good stuff...we have a nice BEOB that hight a RN of 1.62. I'm triggering my sell at the low of the BEOB and hoping to carries my to the 1.6 BRN. Thoughts?

I like it too. . .my target would be a bit shorter . .previous bar Highs.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,908
  • Feb 3, 2011 4:25pm Feb 3, 2011 4:25pm
Quoting Patrick.
I like it..was looking but didnt post
Hi guys

def in on this one but it is showing as a Pin on my feed!
  • #87,909
  • Feb 3, 2011 4:27pm Feb 3, 2011 4:27pm
Quoting Kalbar
Hi guys

def in on this one but it is showing as a Pin on my feed!
can you post a chart of what you are seeing?
  • #87,910
  • Feb 3, 2011 4:29pm Feb 3, 2011 4:29pm
Quoting jarroo
I like it too. . .my target would be a bit shorter . .previous bar Highs.
Nice to hear you like it jarroo.......great chance of working!! You are targetting the first prev bar highs as target.....will you run another lot to see if it can go further? Move to BE on lot 2 when you hit first target?

Thanks

Kal
  • #87,911
  • Feb 3, 2011 4:35pm Feb 3, 2011 4:35pm
Quoting Kalbar
Nice to hear you like it jarroo.......great chance of working!! You are targetting the first prev bar highs as target.....will you run another lot to see if it can go further? Move to BE on lot 2 when you hit first target?

Thanks

Kal
2% . . 1st target gets hit . .I would move to break even.
Indicators show the past. Price Action "Indicates" the future.
  • #87,912
  • Feb 3, 2011 4:36pm Feb 3, 2011 4:36pm
Quoting DBallerz
Now to the good stuff...we have a nice BEOB that hight a RN of 1.62. I'm triggering my sell at the low of the BEOB and hoping to carries my to the 1.6 BRN. Thoughts?
If Im not mistaken, we got also divergence on that one
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  • #87,913
  • Feb 3, 2011 4:37pm Feb 3, 2011 4:37pm
I feel really foolish for not wanting to take it. Even as a scalp I know it should work.

But I do have one important criterion missing

Enjoy the ride folks
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  • #87,914
  • Feb 3, 2011 4:46pm Feb 3, 2011 4:46pm
Or maybe I could take a low risk H1 Breakout of bar lows if a right eye forms first
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  • #87,915
  • Feb 3, 2011 4:47pm Feb 3, 2011 4:47pm
Quoting ghous
Hey Avanish,

Yes its an Inside Bar which means that it is a bar that is smaller in range and tucked up within the high and low of the previous bar. When at important locations these bars can give you a small stop low risk entry allowing you to potentially catch a breakout of the consolidation that led to the IB forming.

What made the location nice on Eur/Cad was a simple obvious BRN 1.37 with a confluence of the 61.8 fib ret.

Now some people tend to place pending orders on both ends to try and catch a breakout off either end, I let the "ongoing...

Very nice indeed . .g.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,916
  • Feb 3, 2011 4:49pm Feb 3, 2011 4:49pm
Quoting jarroo
I like it too. . .my target would be a bit shorter . .previous bar Highs.

I'd like to spring board off this chart to ask you a question about S/R levels. I mark my major S/R levels off the weekly like many of you suggest. Some say that any bar's high and low off the higher TFs (weekly and monthly) can be looked at as S/R levels. I look at them only as S/R levels if they cause a change in direction. Is this a correct assumptions?
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  • #87,917
  • Feb 3, 2011 4:49pm Feb 3, 2011 4:49pm
Quoting xmzhang
Very nice setup on E-J, a 2_D BEOB, price pulled back to a double top on the 2_D-TF. Price gave me a selltrigger on the 1H-TF via a 1H-BEOB. My intention is to preempt a possible break of the 2_D BEOB .............

(BTW. for those who are interested: when price touched that double top it also completed a so called Quasi-pattern)
My E-J trade finally took off and broke that 2_D BEOB, thanx to Trichet, entry as usual on a pullback to a double top .........
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Pipcrawler
  • #87,918
  • Feb 3, 2011 4:57pm Feb 3, 2011 4:57pm
Also my gold trade which I posted on another thread, took off today after consolidating for some time. A nice 2_D PB at the bottom of a consolidation. This trade was a preemptive touch trade @ the left eye of that 2_D PB .............
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Pipcrawler
  • #87,919
  • Feb 3, 2011 4:59pm Feb 3, 2011 4:59pm
Quoting spookie94
I'd like to spring board off this chart to ask you a question about S/R levels. I mark my major S/R levels off the weekly like many of you suggest. Some say that any bar's high and low off the higher TFs (weekly and monthly) can be looked at as S/R levels. I look at them only as S/R levels if they cause a change in direction. Is this a correct assumptions?

Yes I would agree with your assumption . .also the stronger the move away or change in direction . .the stronger the level . .meaning 1 and 3 are stronger than 2 and 4.
Indicators show the past. Price Action "Indicates" the future.
  • #87,920
  • Feb 3, 2011 5:05pm Feb 3, 2011 5:05pm
There is a pinbar on the daily cadchf, does that look like a good setup?
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