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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

  • #90,701
  • Mar 4, 2011 2:17am Mar 4, 2011 2:17am
Quoting jarroo
Hey Jonnyisfound . .good to see you buddy . . .very nice.
you too sir. I was gone just 5 minutes and suddenly there's another 1000 pages to read
  • #90,702
  • Mar 4, 2011 2:22am Mar 4, 2011 2:22am
Quoting Jonnyislost
you too sir. I was gone just 5 minutes and suddenly there's another 1000 pages to read

Yeah I know . .lol . .it moves pretty fast.
Indicators show the past. Price Action "Indicates" the future.
  • #90,703
  • Mar 4, 2011 3:00am Mar 4, 2011 3:00am
Quoting DBallerz
if you guys want this kind of set up to make your PA searching MUCH easier, let me know.

http://my.jetscreenshot.com/5886/m_2...kffn-104kb.jpg
Try

http://www.pipware.com/software/mini-charts.html
  • #90,704
  • Mar 4, 2011 3:06am Mar 4, 2011 3:06am
Quoting jarroo
Price is at a lot of good levels on many pairs . . another one is the 1.52 on the Gbp/Chf.

Yes, that IB with its back to the wall.

I had the areas marked out but was really busy today.
Had to take my wife for an MRI brain scan.

It all happening, lately.

So much, I am amazed I am able to still study.
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  • #90,705
  • Mar 4, 2011 3:09am Mar 4, 2011 3:09am
Quoting Pinbar
Yes, that IB with its back to the wall.

I had the areas marked out but was really busy today.
Had to take my wife for an MRI brain scan.

It all happening, lately.

So much, I am amazed I am able to still study.

Damn, I hope she's alright buddy.
Indicators show the past. Price Action "Indicates" the future.
  • #90,706
  • Mar 4, 2011 3:13am Mar 4, 2011 3:13am
Quoting jarroo
Damn, I hope she's alright buddy.

Thanks Jarroo, I think things will be ok.

Appreciate the good wishes!
  • #90,707
  • Mar 4, 2011 3:40am Mar 4, 2011 3:40am
Quoting mbqb11
Hey Ant

Don't worry we were all on the search for the grail at one point or another

An outside bar needs to fully engulf the previous bar

That is for a beob the following

A high higher then the previous bars high
A low lower then the previous bars low
The close must be near the bottom portion of the bar

Some examples of BEOBs

Best
Mike
That is a beautiful example of how simple this can be. Look at that chart, no PPZs, no indicators, but about a dozen or so OB's with a majority giving you substantial positive pips. Mike has marked a few for illustration purposes but if you go through that chart you will see some beautiful PA looking for OB's only.

Thanks Mike, very nice.

ps. I need to start attending some of your webinars but just too busy. I get the reminders but the time difference can be a pain
  • #90,708
  • Mar 4, 2011 3:43am Mar 4, 2011 3:43am
If anybody would like to see which currencies are strongest and weakest in any TF, you can put this in its own window and refer to it when you like.
Strongest currency on top, weakening downwards

Just another tool to help get the job done
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 Recent Strength.ex4   70 KB | 694 downloads
  • #90,709
  • Mar 4, 2011 3:43am Mar 4, 2011 3:43am
[quote=poncho1;4446474]
Quoting sr2
Good post Jim.


As jarroo said we all have different ways of trading this stuff and just have to find what works for us. I am seriously considering eliminating all PA setups except for OBs. I love them. They work so often that its actually scary



Please post more of your findings on outside bars SR2, you have my attention!
No problem poncho. Its going to take a little while because I plan on analysing 3-5 years worth of daily data across 25 FX pairs, to begin with, then move onto some stocks.

Keep watching this thread
  • #90,710
  • Mar 4, 2011 4:01am Mar 4, 2011 4:01am
Quoting sr2
That is a beautiful example of how simple this can be. Look at that chart, no PPZs, no indicators, but about a dozen or so OB's with a majority giving you substantial positive pips. Mike has marked a few for illustration purposes but if you go through that chart you will see some beautiful PA looking for OB's only.

Thanks Mike, very nice.

ps. I need to start attending some of your webinars but just too busy. I get the reminders but the time difference can be a pain
Its a beautiful thing . .
Indicators show the past. Price Action "Indicates" the future.
  • #90,711
  • Mar 4, 2011 4:06am Mar 4, 2011 4:06am
[quote=sr2;4446960]
Quoting poncho1

No problem poncho. Its going to take a little while because I plan on analysing 3-5 years worth of daily data across 25 FX pairs, to begin with, then move onto some stocks.

Keep watching this thread
You're the Man ..SR2 ..

But you guys know that when we do the reseach ourselves we benefit more directly and learn many other things .
Indicators show the past. Price Action "Indicates" the future.
  • #90,712
  • Mar 4, 2011 4:15am Mar 4, 2011 4:15am
[quote=jarroo;4446996]
Quoting sr2

You're the Man ..SR2 ..

But you guys know that when we do the reseach ourselves we benefit more directly and learn many other things .
Everyone read Jims last sentence 10 times! I would say it is a big part of the trading puzzle. Nobody can give you confidence in this business you have to do that yourself.

Totally agree Jim. I would recommend that anyone who is really looking to get a good handle on this stuff do this kind of research. There are so many benefits but to highlight a few:

- will help build confidence in your trading
- will enable you to develop a method which works for you
- will teach you patience as analysis takes time
- will be part of the fees that everyone in this business HAS to pay before success comes

If I get a chance I will start the analysis this weekend

Thanks
Azam
SR2
  • #90,713
  • Mar 4, 2011 4:22am Mar 4, 2011 4:22am
Quoting Zoomie
I like your charts!! Certainly a bearish candle before the pin setup bar, still an A+? (I am new to these pin bar setups, and would have shyed away from this setup.)
that bearish candle after the Pinbar was a temporary retracement. in fact, u can say the blue line in his chart held as support, as price bounced back up after that bearish candle.
if price were bearish, u would've seen another bearish candle after the first bearish candle.

Quoting Pinbar
Yes...
Had to take my wife for an MRI brain scan.
It all happening, lately.
So much, I am amazed I am able to still study.
is it serious? MRI is pretty serious stuff.
hope all is/will be well.
  • #90,714
  • Mar 4, 2011 4:23am Mar 4, 2011 4:23am
[quote=sr2;4447014]
Quoting jarroo

Everyone read Jims last sentence 10 times! I would say it is a big part of the trading puzzle. Nobody can give you confidence in this business you have to do that yourself.

Totally agree Jim. I would recommend that anyone who is really looking to get a good handle on this stuff do this kind of research. There are so many benefits but to highlight a few:

- will help build confidence in your trading
- will enable you to develop a method which works for you
- will teach you patience as analysis takes time
- will be...
If you'd like an hand SR2, let me know your format and rules and a given time period, and I'm in
  • #90,715
  • Mar 4, 2011 4:32am Mar 4, 2011 4:32am
Quoting sr2
Everyone read Jims last sentence 10 times! I would say it is a big part of the trading puzzle. Nobody can give you confidence in this business you have to do that yourself.
Totally agree Jim. I would recommend that anyone who is really looking to get a good handle on this stuff do this kind of research. There are so many benefits but to highlight a few:
- will help build confidence in your trading
- will enable you to develop a method which works for you
- will teach you patience as analysis takes time
[b]- will be part...

Excellent post, Azam . .
Indicators show the past. Price Action "Indicates" the future.
  • #90,716
  • Mar 4, 2011 4:36am Mar 4, 2011 4:36am
Quoting jarroo
Excellent post, Azam . .

Where is the Big Guy, by the way?

Hope everything is ok.
  • #90,717
  • Mar 4, 2011 4:42am Mar 4, 2011 4:42am
Quoting Pinbar
Where is the Big Guy, by the way?

Hope everything is ok.

This is the latest from Mike . . .The Big Guy is known for burning the candle at both ends, sometimes it catches up to the old man. .lol . ( yeah I know, I'm about the same age). . .he'll be back soon .



Quoting mbqb11
spoke with him a few weeks ago, was just getting run down. Hopefully feeling better soon
Indicators show the past. Price Action "Indicates" the future.
  • #90,718
  • Mar 4, 2011 4:44am Mar 4, 2011 4:44am
Quoting jarroo
This is the latest from Mike . . .The Big Guy is known for burning the candle at both ends, sometimes it catches up to him . .lol . .. . .he'll be back soon .

I hear you. it figures. Lol

Thanks Jarroo
  • #90,719
  • Mar 4, 2011 4:47am Mar 4, 2011 4:47am
Quoting AvanishDemo
i wish it had a bearish close..
yes Avanish, the bullish close was a worry...not the biggest one though...

My biggest worry was the lack of story. 1.37 has never been touched before. We had a real strong rejection off the 1.36 back in 2000, if the IPB had been off this RN instead of the 1.37 the story would have been better.

Interestingly notice the low of the IPB. Draw the 1.36 on your daily chart and notice the PA. The IPB was really just a breakout + Pull back to the 1.36.

Remember we have to be extremely picky with our IPBs!

g.
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I believe . . .
  • #90,720
  • Mar 4, 2011 4:57am Mar 4, 2011 4:57am
Quoting ghous
yes Avanish, the bullish close was a worry...not the biggest one though...

My biggest worry was the lack of story. 1.37 has never been touched before. We had a real strong rejection off the 1.36 back in 2000, if the IPB had been off this RN instead of the 1.37 the story would have been better.

Interestingly notice the low of the IPB. Draw the 1.36 on your daily chart and notice the PA. The IPB was really just a breakout + Pull back to the 1.36.

Remember we have to be extremely picky with our IPBs!

g.

I like how you also explain that if it was a regular PB, would the size be large enough to compensate for such a big move upward? Not at all.

That's another part of the story that was missing.
Indicators show the past. Price Action "Indicates" the future.
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