james16 Chart Thread | Page 4546 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #90,901
  • Mar 6, 2011 11:11am Mar 6, 2011 11:11am
Quoting mbqb11
Inside bars indicate consolidation and can be played as breakouts. That is buying/selling above the high with a stop on the other side. Some people will "straddle" inside bars(a buy above, sell below) to catch the breakout either way. Sometimes it is best to play only one side. Such as a buy above the high of the inside bar when it is sitting on support(see chart)

Best
Mike
Hey Mike..did u played this IB?
My thinking is dat IB which u pointed by arrow got strong rejection making it look lik Pinbar sort of n CB 1.35BRN entering into that consolidation area (considering high of consolidation box ON 1.35 BRN)...so i would worry abt that..just my thoughts..OBVIOUSLY m not going against u..but just my thoughts!
  • #90,902
  • Mar 6, 2011 12:02pm Mar 6, 2011 12:02pm
I know it is wise to be cautious trading on NFP days. I am sure many people treat it that way as well. My question is bars formed on that day, pa or otherwise, should you treat them as you normally would? Or are they tainted from people trading differently due to the NFP?
  • #90,903
  • Mar 6, 2011 1:33pm Mar 6, 2011 1:33pm
Quoting Bryan
Wouldn't the monthly (Feb) "pinish" bar set the tone for lower time frames? It seems to have already experienced a slight retrace and were on a definite downtrend. Would we not then go short at every opportunity on the lower time frames? Thanks.
Hi Bryan. I'm pretty new as well so take that into consideration with my thoughts.

I probably should have put a little more info on my thoughts on the 1.5000. I currently have a bullish bias at that area until price can close below the and then retest to show that previous support has switched to resistance.
The pair looks bearish to me overall so it would take a nice PA bar at 1.5000 to get me in long.

The month is very young so the Feb Pin may still have some retracing to do. And to play that monthly pin on the break, which is how I am currently most comfortable with, I would be looking at an entry well below the BRN at 1.484 or so. I would bet that if price gets that far, 1.5000 has shown it's hand on daily and has broken below and retested.

I am mainly interested in 1.5400 area for this pair and the head and shoulders that could be forming on daily. I won't have any problem sitting on the sidelines if this area isn't approached.

I think the monthly (first) chart shows how important the 1.5400 area may be as potential future resistance. Second chart shows why I'm targeting that area on daily.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wpg49.gif Size: 22 KB
Click to Enlarge Name: wpg49a.gif Size: 25 KB
  • #90,904
  • Mar 6, 2011 1:47pm Mar 6, 2011 1:47pm
Quoting premierpip
first, i would like to ask, what's PBT&CA or B?

i see what you mean.. we are using this to confirm that a certain PPZ/SR/RN is a strong area. can i put in that we are seeing how price test the zones. if we are able to close in the zone, and price bounce back, we wait and see if the level is tested again, and if it does test it again, we wait and see if it test it for a third time, by now we will most probably have a consolidation. once price breaks through the resistance, we are almost certain our support is strong enough to keep price above it....
Price Break Through and Closes Above or Below.

Its just a way of qualifying or confirming a PPZ level as acting Support or Resistance or when Price turns from Support to Resistance and vice versa. . .Price Flip.

There is much to be said about how a Level is test or retested . .i.e. . first time back, second time back, 4th time back, etc. PBT&CAorB has nothing to do with that.
Indicators show the past. Price Action "Indicates" the future.
  • #90,905
  • Edited 4:05pm Mar 6, 2011 1:56pm | Edited 4:05pm
Quoting Pinbar
Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO +...

I like I4+B indicating 4 or more bars of an I4B.

I don't think "retest" is mine .. lol

I like LCS and HCR . . .all they are. .is a way of fining tuning or narrowing down a PPZ level to help give it clarity. These levels can also be used as entries, stop losses, targets, etc.

Oh wait . .you made a video . .let me check that out . .cool.
Indicators show the past. Price Action "Indicates" the future.
  • #90,906
  • Mar 6, 2011 2:28pm Mar 6, 2011 2:28pm
Quoting Pinbar
Hey Adi

Been thinking about that GBP/JPY PB.

It does look tempting from the size and location, but as we discussed I think it is a pass because of the FTA being so close after we add a 10 pip buffer and figure in the spread. It sure will be interesting to see how this plays out next week.

Note I said " a ten pip stop" in the video, I mean to say, a "10 pip buffer".


http://www.youtube.com/watch?v=goR7aRY-7qk

I like this Daily PB on the Gbp/Jpy. But let me back up a bit.

The Weekly BEOB has failed to break but its still with in its range. This BEOB was formed after the break of this flag formation. . . it sure shows the power of these pattern formation breakouts that Mike trades and looks for all the time . .wow. The pattern themselves can be a very strong supportive confluence.

Being that this is a bearish flag formation and Price hit its 1st target, 135.00 BRN it may now want to go in its downward direction. . .a false breakout of a bearish flag.

The Daily bearish PB may be that indication. The targets are close and tight trade management is the way I would trade it. . .I like the 1.33 as the first target .. . Should be fun to watch or Demo.

(Mike, feel free to tear up my bearish flag formation analysis ..)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj07w.jpg Size: 124 KB
Click to Enlarge Name: gj07wa.jpg Size: 132 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,907
  • Mar 6, 2011 3:09pm Mar 6, 2011 3:09pm
http://my.jetscreenshot.com/5886/m_2...cz76-130kb.jpg
  • #90,908
  • Edited 4:02pm Mar 6, 2011 3:23pm | Edited 4:02pm
Quoting Pinbar
Here is another video as I try and get my mind around what Jarroo posted today about the highest close of resistance.

I am using the CAD/JPY PB that Adi & I talked about earlier.
http://www.youtube.com/watch?v=SScsuhNP4_4

It is as you suspect, Pb.

Just look how Price reacted at these two levels of Highest Close of Resistance. . . clear evidence.

The previous Weekly PB worked out great in part because it was below the highest Close of Resistance.

The 83.83 Highest level of Resistance didn't act as Support but it did then turn into Resistance (once PBT&CB) and a PPZ level on the Daily.

The Daily PB is now dealing with a couple of these Highest Close Resistance on the Weekly . .84.67, 84.53.

This is where PA can do its thing as a momentum force . .meaning a PA setup is a momentum setup.

But. . .Is this PB big enough to break through these levels? . . .Its off the 85.00 BRN and below the Daily's Highest Close of Resistance .. but its also fighting an uptrend.

These are the questions we must ask. If the questions become too much . .its easy then . . its a pass.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpyw.jpg Size: 84 KB
Click to Enlarge Name: cadjpywdd.jpg Size: 95 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,909
  • Mar 6, 2011 3:30pm Mar 6, 2011 3:30pm
Quoting menomoo
i see what you mean , but are you saying that keeping in mind where I am at !!!!

If so !!! I Roger that!!! Thanks


Vito

Hey Vito . .you can show me what I mean . . take the Gbp/Usd and draw the Daily and Weekly PPZ level on them . .let's see what you've got.
Indicators show the past. Price Action "Indicates" the future.
  • #90,910
  • Mar 6, 2011 3:34pm Mar 6, 2011 3:34pm
Quoting Donkey
Hi Bryan. I'm pretty new as well so take that into consideration with my thoughts.

I probably should have put a little more info on my thoughts on the 1.5000. I currently have a bullish bias at that area until price can close below the and then retest to show that previous support has switched to resistance.
The pair looks bearish to me overall so it would take a nice PA bar at 1.5000 to get me in long.

The month is very young so the Feb Pin may still have some retracing to do. And to play that monthly pin on the break, which is how I am currently...

This is freaking awsome . D. . . . very nice. You were talking about that 1.54 some time ago.

This is just my opinion here but BRNs on crosses don't carry that much weight to me . I don't ignore them. . I let the chart show me the strong levels.
Indicators show the past. Price Action "Indicates" the future.
  • #90,911
  • Mar 6, 2011 3:53pm Mar 6, 2011 3:53pm
Quoting Donkey
I've been watching Dan Gilbert trade the I4Bs and sort of looking for one to do a first demo trade on. EURCAD weekly is straddling BRN 1.3500 and is an I5B. Looks to be in the right spot, but immediate traffic on both sides. There is some room to move in both directions if it gets through relative close fta's.
You can also narrow it down even more with the Highest and Lowest Closes on the Weekly. . .but I think you already know that D. . .
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadww07.jpg Size: 106 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,912
  • Mar 6, 2011 6:00pm Mar 6, 2011 6:00pm
Quoting DBallerz
http://my.jetscreenshot.com/5886/m_2...cz76-130kb.jpg
Hey DB. Please be sure to post your results from this one. I'm currently backtesting retrace entries and looked at this one closely for a demo. I ultimately passed because my BT has currently consisted of Outside Bars and Pins that straddle the BRN a little more.
  • #90,913
  • Mar 6, 2011 7:54pm Mar 6, 2011 7:54pm
Quoting ksganesh100
PB / Vasmiza / D / Jey, Thanks for taking out time and replying. Appreciate all your inputs. My objective was to present something I thought was a good setup and get an objective opinion from more experienced traders. Having read through your analysis, I feel like a dork not having seen what you have seen. So, Objective accomplished

Need to be more picky and think about what can go wrong as well when I am analysing a setup!

Thanks
Ganesh

Hey, you should not feel like that. We have all been there, you should see some of my posts. LoL

It's just a stage we go through, first we can't find any PA then we see it all over the place, even at places we should ignore.

Don't worry about it, you are doing well.
  • #90,914
  • Mar 6, 2011 7:59pm Mar 6, 2011 7:59pm
Here is the updated J16 Terminology list.
You can always access this by clicking on my signature and indeed Jarroos PPZ basics along with a link to the Big guys videos.

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib+4 = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back
RT= retest

Jarroo's New Terminology
--------------------------------------------------
PBT&CA= price breaks through & closes above
PBT&CB= price breaks through & closes below

LCS= lowest close of support
HCR=highest close of resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xag.jpg Size: 103 KB
Click to Enlarge Name: ejmonly.jpg Size: 86 KB
  • #90,915
  • Mar 6, 2011 8:49pm Mar 6, 2011 8:49pm
Jarroo, please check the PA terminology list and advise of any further changes.


I was asked in a PM about this EJ daily PB and it is hard to describe in a PM so I made another video trying to analyze it with what you are teaching us.
Seems to be a similar situation to the other pair you and I discussed.

Inserted Video
  • #90,916
  • Mar 6, 2011 9:05pm Mar 6, 2011 9:05pm
I'd like to hear Mike's opinion about this EJ PB also.
  • #90,917
  • Mar 6, 2011 9:55pm Mar 6, 2011 9:55pm
Quoting Pinbar
Jarroo, please check the PA terminology list and advise of any further changes.


I was asked in a PM about this EJ daily PB and it is hard to describe in a PM so I made another video trying to analyze it with what you are teaching us.
Seems to be a similar situation to the other pair you and I discussed.

http://www.youtube.com/watch?v=C2axgwNv2hY
The terminology list is fine, Pb.

I believe Mike would not like the size of the Daily Eur/Jpy but would like that there is bearish signals across most of the Jpy pairs.

The E/J did not make a convincing Close above the Highest Close of the Res on the Weekly. But it did close strongly above this bit of consolidation on the Weekly and Daily in white, 114.00. . . or the previous High of the Weekly BUOB . . This is where I would like to see some bullish PA . .previous Resistance to Support. This retracement I see coming from the Daily bearish PB.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej07w.jpg Size: 97 KB
Click to Enlarge Name: ej07wdd.jpg Size: 112 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,918
  • Mar 6, 2011 10:00pm Mar 6, 2011 10:00pm
I did do the work but for some reason when I save it as a pic , FXCM metatrader freezes. Donno what it is but i ll post it as asap.

Thanks

V
  • #90,919
  • Mar 6, 2011 10:03pm Mar 6, 2011 10:03pm
Quoting jarroo
The terminology list is fine, Pb.

I believe Mike would not like the size of the Daily Eur/Jpy but would like that there is bearish signals across most of the Jpy pairs.

The E/J did not make a convincing Close above the Highest Close of the Res on the Weekly. But it did close strongly above this bit of consolidation on the Weekly and Daily in white, 114.00. . . or the previous High of the Weekly BUOB . . This is where I would like to see some bullish PA . .previous Resistance to Support. This retracement I see coming from the Daily bearish...

Let's see if on the 4 Hour TF . .if PBT&CB at the 114.90 which is truer to the Highest Close of Res on the Weekly. If it doesn't . .we could be going up.
Attached Image (click to enlarge)
Click to Enlarge Name: ej07wdd444.jpg Size: 109 KB
Indicators show the past. Price Action "Indicates" the future.
  • #90,920
  • Mar 6, 2011 10:04pm Mar 6, 2011 10:04pm
Quoting menomoo
I did do the work but for some reason when I save it as a pic , FXCM metatrader freezes. Donno what it is but i ll post it as asap.

Thanks

V

Cool.
Indicators show the past. Price Action "Indicates" the future.
144 traders viewing now