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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

  • #91,321
  • Mar 10, 2011 4:24pm Mar 10, 2011 4:24pm
Was going through my charts and this thought struck me:

The lower TF we look at the more magnified all the concepts must be. I mean like on Daily BUOB is just a BUOB, on H4 it should be really MONSTER BUOB.

And also things like Space on H1 for example it really must be GREAT space...

And if one has enough patience to wait for a setup on H1 where he wait for monster pinbar, ridiculously great space, FTA is miles away - he can pretty much successfully trade H1.

Do you think this is so or we have some real differences between trading different TF's (obvious of course is the the lower we go the more choppy it becomes - that's why I say all concepts must be magnified).

Here is that Monster BEOB Mike took. You won't find many of those on Daily I think, once or twice a year for a pair, I think....just compare its size to everything else around it! Real Monster!
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  • #91,322
  • Mar 10, 2011 4:48pm Mar 10, 2011 4:48pm
Quoting Adilius07
Was going through my charts and this thought struck me:

The lower TF we look at the more magnified all the concepts must be. I mean like on Daily BUOB is just a BUOB, on H4 it should be really MONSTER BUOB.

And also things like Space on H1 for example it really must be GREAT space...

And if one has enough patience to wait for a setup on H1 where he wait for monster pinbar, ridiculously great space, FTA is miles away - he can pretty much successfully trade H1.

Do you think this is so or we have some real differences between trading different...
Hey Adi

A daily buob doesn't mean there will be a giant BUOB on a lower timeframe. Price could be aggregated in a plethora of ways to cause the BUOB look.

BUt yes I like the nice obvious ones

Mike
  • #91,323
  • Mar 10, 2011 4:49pm Mar 10, 2011 4:49pm
Quoting Ifmyante
Hi Adi

I find this handy

http://www.mataf.net/en/tools/01-01-correlation
This link has just saved me some effort! I've been tracking correlations between a few particular currencies discovering how one leads the way for another at particular times ..

I may only post a couple times but I sure am reading regularly for reasons just like this!
  • #91,324
  • Mar 10, 2011 4:54pm Mar 10, 2011 4:54pm
Quoting mbqb11
Hey Adi

A daily buob doesn't mean there will be a giant BUOB on a lower timeframe. Price could be aggregated in a plethora of ways to cause the BUOB look.

BUt yes I like the nice obvious ones

Mike
Hi Mike, I meant just for one TF. If I was to trade H1 what would be the most important aspect for me, like I would look for BUOBS too, but the giant ones, those pitbulls but even bigger.

Or I should just do the same with any TF? Maybe yes... is just on lower TF's I see that more setups will not reach FTA and those huge ones usually will reach it and go far beyond.
  • #91,325
  • Mar 10, 2011 4:57pm Mar 10, 2011 4:57pm
Curious, I noticed some people watching EUR/JPY for a possible long breakout.. I've been watching it for a possible short! It seems to have broke the 114.6 (where I have a support line drawn, which I now suspect will turn resistance), and next bar seems to have confirmed it on H4, waiting to see how it moves from here before I go short with target 113.6 .. so now I am wondering if people thinks I am nuts?
  • #91,326
  • Mar 10, 2011 5:01pm Mar 10, 2011 5:01pm
Quoting Adilius07
Hi Mike, I meant just for one TF. If I was to trade H1 what would be the most important aspect for me, like I would look for BUOBS too, but the giant ones, those pitbulls but even bigger.

Or I should just do the same with any TF? Maybe yes... is just on lower TF's I see that more setups will not reach FTA and those huge ones usually will reach it and go far beyond.
Hey Adi

Myself, I really treat all timeframes the same. At least my approach is basically the same across the board.

But do what works for YOU

Mike
  • #91,327
  • Mar 10, 2011 5:06pm Mar 10, 2011 5:06pm
Quoting mbqb11
Hey Adi

Myself, I really treat all timeframes the same. At least my approach is basically the same across the board.

But do what works for YOU

Mike
I think I got it. If you treat daily in the same way you would treat H1 you are truely picky then! I should learn this!
  • #91,328
  • Mar 10, 2011 6:20pm Mar 10, 2011 6:20pm
Quoting Donkey
Really liking this concept...this evening I've been going through chart drawing weekly HCR/LCS and looking at past PA at the levels....CADJPY was interesting.

It was too choppy on weekly to draw the lines so I moved up to monthly to draw the lines (I'm kind of partial to drawing three). Hindsight is 20/20, but dropping to daily, the Feb 24 daily pin that triggered the current daily up move had confluence at a monthly LCS from last June's monthly bar.

There was a RN for the daily pin, obvious ppz, LCS, ema, and 61.8 retracement as confluence....
Hey .D, The more you look at these levels (HCR/LCS) the more you'll like them.

On the Cad/Jpy . that PB formed from the Weekly PBT&CA at the 83.00 level not the Monthly PBT&CA. . .I knew what you meant ..

The Eur/Jpy had a bit of a battle at the 115.00 . .looks like the sellers won ... lol I think you'll agree that the HCR of the Eur/Jpy consolidation, 114.75/114.86, played a role.


Here's a chart on the Daily GBP/Aud to better illustate the Entry/Stop loss placements using PBT&CAorB and HCR/LCR. You can see its more of a Touch Trade method but PA sure makes it better .. Its basicaly the same way I looked at the Eur/Jpy.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,329
  • Mar 10, 2011 6:29pm Mar 10, 2011 6:29pm
Quoting jarroo
Hey .D, .


Here's a chart on the Daily GBP/Aud to better illustate the Entry/Stop loss placements using PBT&CAorB and HCR/LCR. You can see its more of a Touch...
Euro
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Indicators show the past. Price Action "Indicates" the future.
  • #91,330
  • Mar 10, 2011 6:34pm Mar 10, 2011 6:34pm
Quoting Atc
Waiting

Your wait maybe ending . ..


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.
Indicators show the past. Price Action "Indicates" the future.
  • #91,331
  • Mar 10, 2011 6:42pm Mar 10, 2011 6:42pm
Quoting DBallerz
How do you guys feel about GBPUSD? Sucks we couldn't get a solid close above 1.62

Hey DB, even with a Close above the 1.62 it still would have been a tough trade . . running right in to a strong PPZ level at the 1.6250.

Now a big BUOB with the Close above the 1.6250 . .now you're talking ..
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Indicators show the past. Price Action "Indicates" the future.
  • #91,332
  • Mar 10, 2011 6:55pm Mar 10, 2011 6:55pm
Quoting Adilius07
There is Put Adilius07 on Your Ignore List too...but I really don't even want to experiment with this, cause I just cannot imagine the cosequences of this...

Well I try to delete myself now, embarrasing this thing...

Go on...Be a Sport...Give it a try or, you'll never really know!

The LOL
  • #91,333
  • Mar 10, 2011 6:56pm Mar 10, 2011 6:56pm
Quoting Pinbar
Jarroo, can you post a chart.
I posted mine but you must have missed it.

I think you are talking about the breakout of this range but, there is also a H&S pattern so, I am not sure.

Did you see my chart?
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Indicators show the past. Price Action "Indicates" the future.
  • #91,334
  • Mar 10, 2011 7:11pm Mar 10, 2011 7:11pm
Quoting jarroo
Did you see my chart?

Morning Jarroo

No, I just saw it.

Just tried it as I would draw them myself and marked in the logic for it.

Any chance you could put me straight?

Thanks in advance
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  • #91,335
  • Mar 10, 2011 7:28pm Mar 10, 2011 7:28pm
Quoting Pinbar
Morning Jarroo

No, I just saw it.

Just tried it as I would draw them myself and marked in the logic for it.

Any chance you could put me straight?

Thanks in advance

Its good that you look for these Price Flips in the past but let's focus on current Price. I like to draw a box (yellow) in the consolidation area to show it more clearly.

Price appears to be breaking out of this consolidation area, but we need some confirmation of this break out. One way we do this is if Price can break through and close below the consolidation . .or the Support level of consolidation

Are you following here or did I loss you? I'll continue but I want to make sure you're following me here.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,336
  • Mar 10, 2011 7:33pm Mar 10, 2011 7:33pm
Quoting jarroo
Its good that you look for these Price Flips in the past but let's focus on current Price. I like to draw a box (yellow) in the consolidation area to show it more clearly.

Price appears to be breaking out of this consolidation area, but we need some confirmation of this break out. One way we do this is if Price can break through and close below the consolidation . .or the Support level of consolidation

Are you following here or did I loss you? I'll continue but I want to make sure you're following me here.

Yes, Jarroo, I think I am with you.

You are looking at the macro level of the breakout instead of the micro level meaning. You are looking at that consolidation box to breakout and pullback at the retest and see if it is going to now act as resistance probably at the LCS.


That is the grasp of it I have, currently.
  • #91,337
  • Mar 10, 2011 7:42pm Mar 10, 2011 7:42pm
Quoting Pinbar
Yes, Jarroo, I think I am with you.

You are looking at the macro level of the breakout instead of the micro level meaning. You are looking at that consolidation box to breakout and pullback at the retest and see if it is going to now act as resistance probably at the LCS.


That is the grasp of it I have, currently.
Yes, that's right . .I don't like the word "retest" because we are not retesting anything here. We know that a Support level will turn into a Resistance level once Price break through and closes below it . . most of the time . . .if it doesn't, it wil usually go back to its Support level. . .make sense to you?
Indicators show the past. Price Action "Indicates" the future.
  • #91,338
  • Mar 10, 2011 7:45pm Mar 10, 2011 7:45pm
Quoting jarroo
Yes, that's right . .I don't like the word "retest" because we are not retesting anything here. We know that a Support level will turn into a Resistance level once Price break through and closes below most of the time . . .if it doesn't it wil usually go back to its Support level. . .make sense to you?
Yes, this is the key word and indeed shows how you have learned to trust this method. I understand why you don't like the word "retest" but at the same time you require confirmation with PA.
  • #91,339
  • Edited 9:50pm Mar 10, 2011 7:51pm | Edited 9:50pm
Quoting Pinbar
Yes, this is the key word and indeed shows how you have learned to trust this method. I understand why you don't like the word "retest" but at the same time you require confirmation with PA.

That's right. So if at the end of this week, Price has close below this Support level, specifically LCS, we now look for confirming bearish PA at this level.

You got it. . .that's all there is.
Indicators show the past. Price Action "Indicates" the future.
  • #91,340
  • Mar 10, 2011 7:58pm Mar 10, 2011 7:58pm
Quoting menomoo
Come Back for Tea.... only to get F..ALL ,,, well FALL )) well donno why but probably in my head I thought pirce Come Back and Test... May be it should be Come Back ReTest.. CMRT... Didnt wana come up with something new or anything just thinking loud in my head and just how it ended up on the chart...


Cheers

V

Oh Ok . . .lol
Indicators show the past. Price Action "Indicates" the future.
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