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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

  • #91,221
  • Mar 9, 2011 5:33pm Mar 9, 2011 5:33pm
Quoting Pinbar
Yeah, monthly BUEOB with a weekly BUEOB as confirmation. First monthly break of this area in a long time.


Interesting
Hi Pinbar

Just a question. I have often seen in your posts you write BUEOB which is obviously BUllish Engulfing Outside Bar. Why dont you say BUOB as in the link in your sig? or are you differentiating between an Outside bar and an Engulfing outside bar?

BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar
  • #91,222
  • Mar 9, 2011 5:34pm Mar 9, 2011 5:34pm
Quoting Ifmyante

Is that H4 BEOB at a swing high where we want to see them?
  • #91,223
  • Mar 9, 2011 5:36pm Mar 9, 2011 5:36pm
Quoting ljr
Hi Pinbar

Just a question. I have often seen in your posts you write BUEOB which is obviously BUllish Engulfing Outside Bar. Why dont you say BUOB as in the link in your sig? or are you differentiating between an Outside bar and an Engulfing outside bar?

BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar

Good eye....It was a typo in the list.

Will update it.
  • #91,224
  • Mar 9, 2011 5:39pm Mar 9, 2011 5:39pm
Quoting Pinbar
Good eye....It was a typo in the list.

Will update it.
I kind of prefer the short version. Isn't an Outside bar engulfing by definition?
  • #91,225
  • Edited 11:23pm Mar 9, 2011 5:39pm | Edited 11:23pm
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
BUEOB = 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 that is the smallest bar of the previous 3 bars
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 ( often used to denote the first time back to an EMA)
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
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  • #91,226
  • Mar 9, 2011 5:44pm Mar 9, 2011 5:44pm
Quoting ljr
I kind of prefer the short version. Isn't an Outside bar engulfing by definition?
I have seen both used but I think I recall seeing BUOB even when the entire bar was not engulfed.

Not sure why this changed to BUEOB maybe to make it clearer to new people that it should engulf the previous bar completely. Let's ask Jarroo's opinion on this.

Morning Jarroo

Oh by the way, you wanted the IB4 written as IB4 or IB+4? I was not sure about that.
  • #91,227
  • Mar 9, 2011 5:56pm Mar 9, 2011 5:56pm
Quoting Pinbar
I have seen both used but I think I recall seeing BUOB even when the entire bar was not engulfed.

Not sure why this changed to BUEOB maybe to make it clearer to new people that it should engulf the previous bar completely. Let's ask Jarroo's opinion on this.

Morning Jarroo

Oh by the way, you wanted the IB4 written as IB4 or IB+4? I was not sure about that.

Yo Pb, . .morning.
Indicators show the past. Price Action "Indicates" the future.
  • #91,228
  • Mar 9, 2011 5:58pm Mar 9, 2011 5:58pm
Quoting Pinbar
I have seen both used but I think I recall seeing BUOB even when the entire bar was not engulfed.

Not sure why this changed to BUEOB maybe to make it clearer to new people that it should engulf the previous bar completely. Let's ask Jarroo's opinion on this.

Morning Jarroo

Oh by the way, you wanted the IB4 written as IB4 or IB+4? I was not sure about that.

I like I4B or I4+B.

Have you been watching the Aud/Cad?
Indicators show the past. Price Action "Indicates" the future.
  • #91,229
  • Mar 9, 2011 6:01pm Mar 9, 2011 6:01pm
Quoting fxgroup
A very interesting and usefull dicussion on gbpaud,but reading Mike's post,when said that all his tries over the years gone to simplicity,made me to see this pair into a easier perspective:small consolidation into the big consolidation.
Nice fxg . . you can even go deeper then that . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,230
  • Mar 9, 2011 6:05pm Mar 9, 2011 6:05pm
Quoting jarroo
I like I4B or I4+B.

Have you been watching the Aud/Cad?
Morning Jarroo

Yes, I am watching it like this
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  • #91,231
  • Mar 9, 2011 6:10pm Mar 9, 2011 6:10pm
Quoting Pinbar
Is that H4 BEOB at a swing high where we want to see them?
Possible precursor to a spanking breakout was all I was saying
  • #91,232
  • Mar 9, 2011 6:11pm Mar 9, 2011 6:11pm
Quoting menomoo

I just did this , will appreciate if you look at it . Thanks .



Cheers



V


Looks real good V . .

What's CBT?
Indicators show the past. Price Action "Indicates" the future.
  • #91,233
  • Mar 9, 2011 6:23pm Mar 9, 2011 6:23pm
Quoting jarroo
Yes, it looks a PPZ level is forming (what am I saying . .it already did form .) on the Daily Usd/Chf at the .9930ish level . .I would be looking for bullish PA at this level . .good chance that PPZ level will act as Support.. . .Nice job V.

Looks like we still had a bit of Resistance left on the Usd/Chf consolidation breakout.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,234
  • Mar 9, 2011 6:44pm Mar 9, 2011 6:44pm
Quoting jarroo
Gotta chart?
Not wiz, but

What I am watching
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  • #91,235
  • Edited 6:57pm Mar 9, 2011 6:47pm | Edited 6:57pm
Quoting Donkey
I think you need to draw the HCR/LCS first and then look for break through close above/below etc.

Here's how I see current EJ consolidation using HCR and LCS....the top and midpoint of current box can be defined by the HCR and LCS1 I drew on weekly. They are basically the BRN of 115. I see using a higher time frame close with BRN as confluence at a S/R area. If you get the PBT&CA/B, you expect the s/r to flip. If you don't get it you expect the s/r to hold.

So on EJ we expect the current level (basically 115.00) to now hold as support.
That's right D. . .a 115.00 BRN entry could be a good entry once Price broke through and closed above the HCR (Weekly), 114.75.

You can use the 114.75 as the S/L for the 115.00 or an entry itself. The first couple attempts would have stopped you out depending on how low you were below the 114.75.

Man . . the left eye of that Daily PB sure is strong Resistance . they usually are. . .I like to see PBT&CA that left eye . .
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Indicators show the past. Price Action "Indicates" the future.
  • #91,236
  • Mar 9, 2011 6:51pm Mar 9, 2011 6:51pm
Quoting mbqb11
Not wiz, but

What I am watching
I was looking at this . . .


Its the Mike influence . . . . target hit!!

I couldn't figure out the 115.58 target . .
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Indicators show the past. Price Action "Indicates" the future.
  • #91,237
  • Mar 9, 2011 7:02pm Mar 9, 2011 7:02pm
Quoting johoma
Daily GbpUsd. I'm liking this dBEOB. Reasonable size, at swing high, has tested and broken through major PPZ's at 1.6270 and 1.6250 and neg div against Macd. I have a dPPZ at 1.6187 and a lesser 4h PPZ at 1.6160 that I'd like to see broken before a straight entry upon break of the bar low. Maybe I'm being too cautious here? Alternatively, look for a discounted entry upon retest of 1.6234 (prev bar low) or the 1.6250PPZ.
Took the BEOB break and -0.6R on this. Being cautious was OK, but by getting in beyond those potential trouble areas, I was just entering closer to other trouble that I hadn't recognised (1.6130 area). Lesson learnt on trading into traffic (and the BEOB wasn't THAT big in hindsight).
  • #91,238
  • Mar 9, 2011 7:08pm Mar 9, 2011 7:08pm
Quoting johoma
Took the BEOB break and -0.6R on this. Being cautious was OK, but by getting in beyond those potential trouble areas, I was just entering closer to other trouble that I hadn't recognised (1.6130 area). Lesson learnt on trading into traffic.

Good eye on the 1.6130, John. Looks like a PPZ level in the middle of that prior consolidation. Price loves those PPZ levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,239
  • Mar 9, 2011 7:21pm Mar 9, 2011 7:21pm
Quoting cprao
Great !! Was it a touch trade with out PA but in consideration of all the confluence of PPZ, 61.8%, HCR, etc.. But what was your first target ?
TT with the all the confluence....FTA was 85.25( thought with countertrend and the way I believe yen pairs like quarters that I would pull some profits)....Stopped out for the rest...may have moved my stop to early....thought we would retest the 85.00 area ....i guess just not yet
  • #91,240
  • Mar 9, 2011 7:30pm Mar 9, 2011 7:30pm
Quoting the_wizard
There is one hell of a setup developing on the H1 EUR/JPY right now.

I'm bidding at 113.95 and taking the break and pullback long on any move above 115.48.
Waiting
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